THREE APPROACHES TO CASE STUDY DEVELOPMENT FOR
ENTREPRENEURSHIP EDUCATION
Mary C. Gentile and Heidi M. Neck
(This is a working draft. Please do not distribute or reproduce without permission.)
Case studies used for teaching purposes are usually written narratives that present a
particular business situation or decision, although video and web-based products are
growing in popularity, either as supplements or replacements for the written document.
Typically cases are fact-based, although sometimes the actual actors, organizations and
data are disguised and occasionally a fictional case will be created to illustrate a
particular hypothetical scenario for teaching purposes.
Case studies can be used as marketing tools, archival documents, or as the basis of
scholarly research, but here the focus is on educational case studies for an
Entrepreneurship curriculum. Thus, these cases are presented in a way that facilitates a
focused and fact-based discussion on topics such as opportunity identification,
opportunity evaluation, resource acquisition, entry and growth strategies, creative
problem solving, team building, family enterprising, innovation, financing, or the harvest
event. And very importantly, the case developers have a defined set of learning
objectives that drives their decisions about what information to include and exclude, and
how to structure and present the case itself. It is useful to note that defined "learning
objectives" do not necessarily translate into defined "solutions" or answers to the case
challenges.
A case-writing recipe does not exist. Though the Harvard Business School case tradition
is well known throughout business education, a monolithic case writing methodology is
not encouraged for teaching entrepreneurship. The study of entrepreneurship involves
understanding how opportunities are discovered, created, and exploited by whom and
under what circumstances.1 Given the multidisciplinary nature of the field and the
multiple foci demanded to reflect the variability, flexibility, and uncertainty associated
with entrepreneurship, an entrepreneurship-case writer is encouraged to think beyond the
“traditional” case study to better reflect the true practice of entrepreneurship and help
students work to develop empathy for the entrepreneur. As a starting point, let’s consider
three types of entrepreneurship teaching cases:
1
Venkataraman, S. (1997). The dinstinctive domain of entrepreneurship research. In J. Katz & R. Brockhaus (Eds.),
Advances in Entrepreneurship, Firm Emergence, and Growth (Vol. 3, pp. 119-138). Greenwich, CT: JAI Press.
1
(1) Opportunity Creating Cases2
The opportunity creating case study focuses on the process of creating a suitable
opportunity for an entrepreneurial venture. This type of case is very much centered on the
entrepreneur, the entrepreneurial team, and associated networks. It is less about the actual
opportunity, although it may be present, and more about the act of creating or making an
opportunity. It is both possible and probable that the entrepreneur(s) featured in the case
may not even have a venture idea but simply want to engage in the process of creating
something of value. Typically, however, the case introduces an individual entrepreneur
and describes his/her interests and context, and the focus of the classroom discussion is
on what venture(s) the the entrepreneur might start, and how he/she might do so . Such a
case approach is appropriate for the development of an entirely new organization, or the
development of a new offering within an existing organization.
The opportunity-creating case can be structured as a more traditional decision-making
case (format described below), or it can be written more informally as a sort of
straightforward and hopefully compelling "story" – a sort of opportunity biography. The
key factors in this type of case are that the protagonist is an entrepreneur (or a prospective
one); the story concerns the entrepreneur's journey in deciding to start a venture and
figuring out what it will be; and the case includes enough information so that the
discussants can identify and dialogue about the motivation, ability, resources and
potential opportunities of the entrepreneur.
The approach for writing and teaching opportunity-creating cases is grounded in the
Effectuation Approach to entrepreneurship presented in the research and writing of
Professor Saras Sarasvathy of the University of Virginia’s Darden Graduate School of
Business. The Effectuation approach is contrasted with a more causal approach to venture
creation. A traditional scenario found in many entrepreneurship courses and cases starts
from the assumption that an entrepreneur simply discovers or finds an opportunity. Then
the entrepreneur conducts an analysis to predict the size of the opportunity and the
resources required to realize it; creates a plan; and acquires resources to start the venture.
The case story follows a chain of causal reasoning, from opportunity discovery through to
launch.
Rather than starting with a defined opportunity and attempting to predict all
contingencies in advance of action and thereby control for them, an effectuation approach
suggests that an entrepreneur focuses upon understanding all the means and resources
available and then to imagine as many opportunities as possible. In other words, the
entrepreneur seeks to act quickly, determine what can be done next, given the means at
hand, and to understand what he/she can afford to lose rather than what the risk/return
ratio may be.
As a result, the analysis of this sort of opportunity-creating case is organized around the
following four questions:
2This
form of case is heavily influenced by the work of Dr. Saras Sarasvathy and her entrepreneurship theory of
Effectuation. For a comprehensive description see: Sarasvathy, S. D. (2008). Effectuation: Elements of Entrepreneurial
Expertise. Northampton, MA: Elgar.
2




Who is the entrepreneur?
What does the entrepreneur know?
Whom does the entrepreneur know?
Then, based on the answer to the above three questions, what should the
entrepreneur do?
Thus an opportunity-creating case can focus on what the entrepreneur should do first, or
next, to start the venture or what opportunity the entrepreneur should explore. The above
four questions allow discussants to identify the field of potential opportunities or
pathways to start up that the case protagonist has before him or her, based on the
entrepreneur's personal, experiential, intellectual and relational resources. The idea here
is to be open-ended; to allow for the generation of as many ideas as possible; to follow
potential leads as far as the available or obtainable resources will allow; and to be
constrained only by a definition of "affordable loss" as opposed to a pre-defined
"projected gain." This type of analysis provides students with the opportunity to actually
practice the flexibility, freedom, creativity and rapid response times that real-life
entrepreneurs must possess, especially during the emergent stages of an idea or venture.
The discussion plan will be one of opening up the conversation to generate – and
examine – multiple ideas and potential venture objectives, or paths to launch, through the
process of creating as opposed to finding – the "Bird-in-Hand" approach. Additionally,
the discussion plan for an opportunity creating case might be organized around the
question "What can the entrepreneur afford to lose?" or the question "Who are the
networks that the protagonist can tap/partner with?" or "How can the entrepreneur" work
with, rather than against, the challenges and obstacles that present themselves?" Each of
these teachable questions reflects one of the principles of creation-oriented behavior that
Sarasvathy has identified in her studies of successful entrepreneurs (Figure 1).
Table 1
Principles of Creation-Oriented Behavior
Principle
Meaning
What it’s not…
Bird-in-Hand Principle
Start with Who you are,
What you know & Whom
you know
Starting with pre-set goals
Affordable Loss Principle
Invest in what you can afford
to lose – extreme case $0
Predicting expected return
Crazy Quilt Principle
Build a network of selfselected stakeholders
Competitive Analysis
Lemonade Principle
Embrace and leverage
surprises
Fearing failure or avoiding
surprises
Sarasvathy, S. D. (2008). Effectuation: Elements of Entrepreneurial Expertise. Northampton, MA: Elgar.
3
The teaching and writing of an opportunity-creating case is not devoid of market
understanding and analysis; they are just not the primary emphasis. Dew and colleagues3
offer another framework (Figure 1) that can be used in the discussion of an opportunitycreating case and that illustrates the relationship of this type of market analysis to the
examination of the individual entrepreneur's opportunity creation behaviors. In creating
an opportunity, personal feasibility and personal value are fundamental to venture
creation. If the entrepreneur (individual) and opportunity align, then logic follows that
market, technical, and financial feasibility must also then be considered in light of the
entrepreneur's ability and motivation. But in-depth examinations of market feasibility and
value will normally take places in the discussion of decision-making cases(descibed
below). Although sometimes the same text can be used as anopportunity-creating case
and also as a decision-making case, the teaching objectives and focus of the classroom
discussion would be significantly different.
Figure 1
Is an idea a good opportunity?
FEASIBILITY
VALUE
Is it doable?
Technical feasibility
Market feasibility
Is it worth doing?
Financial feasibility
(affordable loss)
Can I do it?
PERSONAL What does it take?
Who else do I need?
Do I want to do it?
What excites me
about it and why?
MARKET
Source: Dew, Read, Sarasvathy, Wiltbank, & Ohlsson, Effectuation in
Action, Work in progress, March 2009, p. 36.
(2) Decision-Making Cases
The decision-making case study is very much inspired by the Harvard case writing
tradition. This type of case generally focuses on a particular business process challenge
or functional area analysis, while set within an entrepreneurial venture. Most often,
however, the decision-making case in entrepreneurship courses documents the journey of
venture creation and students must apply analytical tools and frameworks in order to
assess, select and justify a decision to act in a particular way... In other words, through a
decision-making case students should be prepared to answer: What do the market factors,
competitor analyses and financial projections tell me about the potential profitability and
viability of this opportunity at a certain point, and how best to realize them?
3
Dew, Read, Sarasvathy, Wiltbank, Ohlsson, Effectuation in Action, Work in progress, March 2009 page 36/88.
4
Beyond this overarching question, there is a problem to be solved or a critical decision
point. Decision-making cases move from a discussion of the opportunity to a statement of
a problem or decision challenge and an implicit or explicit question about "what should
the entrepreneur do?" In order to evaluate options and formulate a decision, the case
analysis requires the application of specific techniques, evaluation/analysis methods,
strategic frameworks, etc. Some of these techniques, methods and frameworks are
specific to entrepreneurial situations (e.g., venture funding models, valuation, hiring
employees, building a team, market entry strategy, evaluating resources, intellectual
property) and some of them are more generic business tools (e.g., break-even analysis,
financial statement analysis, industry analysis).
This type of case study is less about uncovering or creating new ground than it is about
managing effectively within the terrain that the entrepreneur has already identified and
many actions have taken place prior to the point where a decision is required. As such a
decision-making case includes a significant amount of background on the key decisionmakers, the organization, the context and any relevant financial or other data, either in the
body of the case or in appendices.
The traditional decision-making case study is typically shaped and framed from the
perspective of a single case protagonist (e.g., the entrepreneur). Specific questions are
highlighted, simply because they are the questions for which the entrepreneur or
entrepreneurial team was responsible. For example, a typical Babson decision-making
case introduces the entrepreneur and the idea that formed a venture. There is enough
information in the case to evaluate the attractiveness of the opportunity at the time of
venture creation but then the entrepreneur is challenged in some way. Students might use
the contextual, competitor and customer data provided to design an initial marketing
approach; or they might use the financial data provided to define the initial investment
levels required to launch the concept.
The standard Babson framework used in decision-making cases is the Timmons Model
created by the late Babson professor, Jeffry Timmons.4 Figure 2 depicts the basic model
as having three main components: the opportunity, the resources, and the team. This
simple but powerful model is a useful guide for both writing and teaching a decisionmaking case. The students should view the Timmons Model as an entrepreneur juggling
three balls – opportunity, resources, and team.
In an ideal state all three balls should be the same size and easy for the entrepreneur to
juggle but in most situations there is an imbalance. The opportunity may be significant in
size (large opportunity circle) but there are few resources available to act (small resources
circle) and the team is lacking some important skills (medium team circle). At any given
point in the case students should be able to evaluate all three components and make a
decision about the viability of the venture and/or how to enhance it.
Additionally analyzing the case using the Timmons model is a nice way to codify the
information presented and helps students navigate through the important decision point(s)
4
For a more comprehensive view of the Timmons model see Chapter 3 in J. Timmons & S. Spinelli (2009) New
Venture Creation, McGraw-Hill.
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highlighted in the case. Achieving balance between the three components in this model
will be influenced by the behavior, mindset and skillfulness of the case protagonist – that
is, by the creativity, communication, and leadership of the particular entrepreneur. And
the business planning process is a good exercise to identify the fits and gaps of the
venture and where the imbalance may be and what is needed in order to regain balance.
Again, the goal is to keep the model in balance and have the circles equal in size. It is a
classroom tool that is both visual and analytical.
Figure 2
Timmons Model of Entrepreneurship
Communication
Opportunity
Resources
Business Plan
Fits and gaps
Creativity
Leadership
Team
Founder
Though these are actions that may seem relevant for an opportunity-creating case, it is
important to remember that there is little analysis in the opportunity-creating case from
market, industry, and financial perspectives. The decision-making case requires the use of
data, market research, and business planning tools to decide if the entrepreneur should
have started the venture or not and what options should be pursued in the future. Based
on historical analysis, using the Timmons model, student attempt to predict the future and
make decisions accordingly. The Timmons model, when used to frame a decisionmaking case, serves to help student evaluate options.
On the other hand, the opportunity-creating case serves as a vehicle to help students learn
to identify and create all the options. Figure 3 illustrates the flow of the two types of
cases and subsequent case discussions. The decision-making case narrows; the
opportunity-creating case expands.
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Figure 3
Decision-Making versus Opportunity-Creating Case Flow
Decision-Making Cases
narrow down
options, evaluate,
and make
decisions.
Every input
(actions,
information,
resources)
expands the possible
opportunities
available.
Entrepreneurial Thinking
information
analyzed to
Managerial Analysis
Large
amounts of
Opportunity-Creating Cases
A widely accepted decision-making case format includes: a brief opening that presents
the case "problem" or decision focus; discrete background sections on the company, the
case protagonist, and the industry; background sections on any other relevant players or
constituencies (e.g., competitors, suppliers, consumers, other members of management,
other employees, investors, partnering organizations, relevant government or community
bodies, etc.); a chronological narrative of the situation being described which concludes
where the case originally began – that is, with a statement of the case "problem" but
without a decision. Sometimes a brief follow-on "B" case is prepared that provides a
description of what actually happened. These cases are typically 15-20 pages long and
can include numerous appendices and exhibits which present relevant background
documents, financial reports, market research data, and so on.
The more compelling and challenging the decision point, the more impactful the case
study will be. In fact, deciding on a decision focus is often the hardest part of writing a
good decision-making case. It should be focused enough that the student preparation and
faculty teaching plan can be quite specific. However, it should be the kind of problem
that once engaged, requires one to examine many streams of data and to consider
multiple possible scenarios. The best decision-making cases can support more than one
plausible response, although there should also be some clearly less optimal responses,
such that students can hone their analysis and logic by going down multiple paths and the
occasional dead end. In other words, the decision should not be one that is obvious and
that the entire class will agree with early on in the case discussion.
Increasingly, educators have begun to experiment with variations on the traditional
decision-making case study. Babson College, for example, uses collaboration tools,
specifically wikis, to build cases in real time. The professor creates the base case but
then company management, industry experts, and other stakeholders add and edit content
as well as answer student questions that are posted. Students, professors, and practitioners
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are all collaborating and interacting to build case content, exchange ideas, and test
alternatives.5
Another trend capitalizes on readily available and current information found on the web.
Instead of providing all the relevant data, pre-packaged as it were, case developers will
craft the problem statement and then gather web-links to a variety of different types and
sources of background information.6 More data will be made available in this way than
one individual student could possibly assimilate, requiring students to make judgments
about which data is salient and most important and which information they may safely
ignore, and/or to work in teams where different individuals are responsible for different
aspects of the problem to be solved. These cases are intended to be more reflective of real
life, since typically entrepreneurs are not handed all the relevant information in a neat 15
page document.
(3) Implementation/Scripting Cases
Like the decision-making case, the implementation/scripting case study7 focuses upon a
particular business challenge, set within an entrepreneurial venture, and presents the
situation from the perspective of an individual case protagonist or actor – usually the
entrepreneur but can be other stakeholders. Unlike the previous two types of cases,
however, the implementation/scripting case study ends at the point where the protagonist
has already decided what to do and needs to build an action plan and a script to get it
done. The focal questions therefore are "how can the case protagonist get this done? what
information will be needed? what arguments will be effective? what allies are needed?
what steps should be taken, in what sequence?" and so on.
Implementation/scripting cases are presented as narratives or stories, following the case
protagonist's thinking about a particularly compelling challenge and sharing enough
detail about who the protagonist is such that discussants can understand the strengths and
challenges that he or she will bring to the situation. Often the case will end with the need
for the protagonist to persuade certain target audiences to get on board with a decision
and students will spend time developing actual scripts for how he or she can be most
persuasive.
The implementation/scripting case study is typically much briefer than the other two
types of cases described here. It may be as brief as a paragraph or as long as 3 or 4 pages.
Because the cases are shorter, they are more suggestive, relying on the students' own
experience and knowledge, as well as outside research (reading, practitioner interviews,
etc.). For this reason, students often benefit from team preparation of their action plans,
so that they can share different data-gathering/research or interviewing tasks and also use
Iyer, B. R., Parise, S., McGuire, M., & Santiage, E. “Babson College’s Wiki-based Platform for Innovative Case
Development.” Paper presented at the 2008 Organization Behavior Teaching Conference, Wellesley, MA.
6 For example see information on Yale’s “raw” cases at
http://mba.yale.edu/news_events/CMS/articles/pdf/RawvsCooked.pdf
7 This case model is based upon the case format and approach developed by Mary C. Gentile Ph.D, for the Giving
Voice to Values curriculum (www.aspenCBE.org).
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peer coaching and brainstorming to generate effective and persuasive "scripts" for
building support for the protagonist's decision.
Implementation/scripting cases pertaining to the entrepreneurship process may include
topics such as succession issues in family enterprising, the first time an entrepreneur must
fire an employee, and countless ethical dilemmas faced by entrepreneurs. The
implementation/scripting cases are ideal for emotional challenges faced by entrepreneurs.
An implementation script case allows for the effective facilitation of sometimes highly
charged, emotional discussions.
The analysis, discussion and resolution of implementation/scripting cases typically follow
a simple process by answering the following questions:







What is your purpose in pursuing this decision?
What kind of information do you need in order to plan and act responsibly
and effectively in the pursuit of your purpose?
What are your action options and what do you need to be successful?
What is at stake for each affected party, including the protagonist and the
parties he or she wants to persuade?
What are the main arguments or the typical "reasons and rationalizations"
the protagonist is likely to encounter as objections to his or her decision?
What are the most effective responses ("scripts") or "levers" that case
protagonist can use to counter those objections?
When preparing and sharing their scripts, students should be encouraged
to go beyond their first line of argument, anticipating what their target
audience might say in response, and then developing follow-up scripts.
Therefore, they are developing a kind of decision-tree of responses.
Taking all the above into consideration, what will be the most effective
action plan – target audiences; sequence; context; etc.?
Although the cases themselves are brief, implementation/scripting cases often require just
as much research and preparation by their authors as the other case formats. However,
much of this information is analyzed and presented in the teaching notes, as opposed to
the case study document itself.
Conclusion
The three types of case studies described above provide a defined yet flexible framework
for the development of case teaching materials for an entrepreneurship curriculum. It is
important to note that one format is not better than the other. What is most important,
however, is that the educator has an understanding of which case type to use when (in
their teaching) and what case issue is most appropriate for each form (when writing).
Table 2 provides an overview and can act as a helpful guide for both case writing and
teaching. Entrepreneurship is a multifaceted process with different actors (e.g.,
entrepreneurs, team, stakeholders) and artifacts (e.g., assets, resources, venture design,
business plans, business models); thus, a comprehensive and similarly multi-faced case
approach will optimize student learning and entrepreneurial development.
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Table 2
Summary of Entrepreneurship Case Study Types
Approach
Teaching
Objective
Effectuation
Engage students in
the process of
creating
Type
Implementation/
Scripting
What does the
entrepreneur say?
How can the
entrepreneur get it
done? What
information is
needed?
Persuasion
Engage students in the
process of scripting
and action planning
Best for…
Discussing the
emergent side of
entrepreneurship
Working through
challenging situations
at startup and beyond
Length
Short/Medium/Long
Short
Focal
Questions
Opportunity
Creating
Who is
entrepreneur? What
does the
entrepreneur know?
Whom does the
entrepreneur know?
Decision Making
What’s the problem
or opportunity? What
are the options?
What’s the best
decision?
Causation
Engage students in
the process of
managerial decision
making?
Using or
demonstrating
analytical tools for
analysis
Long
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