Comm 101 Tutorial Section 101 Week 4 Week 4 Agenda Case Skills Lieber Case Business Plan Questions Discussion (if time) Week 4 Case based learning - Why • Apply tools and concepts to real-world scenarios • Engage critical thinking skills • Fantastic learning tool for students • Reinforce the connection between analysis and recommendations/solutions Case Skills Lieber Biz Plan Questions 3 Discussion Week 4 Case based learning - How • • • • Issues, Analysis, Recommendations Approach Prioritizing Framing your response Case Skills Lieber Biz Plan Questions 4 Discussion Week 4 Issues, Analysis, Recommendations 1. Issues: important problems, decisions or issues. 2. Analysis: analysis of underlying causes of issues, and alternative actions considered, selectively supported by relevant concepts and frameworks as you learn them. 3. Recommendations: a set of clear recommendations, supported by your analysis. • Because cases are complex, yet the memos (or class discussion opportunity) brief, you will face the challenge and discipline of organizing your thinking well and writing/talking concisely. Case Skills Lieber Biz Plan Questions Discussion Week 4 Stages of learning in cases • • • • Individual Preparation Small group discussion Large group (class) discussion After case personal reflection L LG SG Ind. Case Skills Lieber Biz Plan Questions t Discussion Week 4 Approaching a Case • Skim the case quickly to “get a feel” • Look to see if a specific decision point is identified (typically in the first or last paragraph) • Then, read the case carefully and make notes (but do not take too long) • Can you identify the issues? • How are they linked? Case Skills Lieber Biz Plan Questions Discussion Week 4 The Case Preparation stages A) Identify Issues B) Analysis C) Alternative Generation D) Decision Criteria E) Alternative Assessment F) Recommendation G) Action & Implementation H) Assumptions Case Skills Lieber Biz Plan Questions Discussion Week 4 Prioritizing Issues • • • • • Importance & Urgency of Issues Cause & effect diagram (fishbone) SWOT framework Comparative data Financial analysis Your list will grow as you progress through your degree Case Skills Lieber Biz Plan Questions Discussion Week 4 Prioritizing Issues Fishbone analysis: cause & Urgency/importance quadrant effect Case Skills Lieber Biz Plan Questions Discussion Week 4 Decision Criteria – What decision criteria could you use to screen alternative options? – Hint: list under qualitative and quantitative • Provide examples relevant to the practice case • $ Return, aligns with strategy, etc. Case Skills Lieber Biz Plan Questions Discussion Week 4 Framing your response • Know your audience – report/memo • What are the issues? • “What” course of action should be taken. – Without this you risk listing lots of items but failing to commit to one • “Why” reflects your evidence, directly from the case and distilled from your analysis • “How” is the implementation plan Case Skills Lieber Biz Plan Questions Discussion Week 4 Framing your response • Memo – Not everything from your prep will fit in the memo constraints – Check each set of instructions – Be selective in what you choose to present – Develop your own style and “voice” – Learn from exemplars Case Skills Lieber Biz Plan Questions Discussion Week 4 Recap of case fundamentals • Make a decision based on the information at hand – Issues – Analysis – Alternative solutions – Recommendation • Persuasion and argument in support of the Decision – “my analysis shows” beats “I think.” Case Skills Lieber Biz Plan Questions Discussion Week 4 Student Myths • MYTH: I have an advantage because I know this company You will only learn the keys to success if you can “abstract” away from the case -this means getting beyond the detail or specific situation to recognize and deal with the broader principles Also, your knowledge may post-date the case! Case Skills Lieber Biz Plan Questions Discussion Week 4 More Student Myths • MYTH: I will have an advantage if I go to the company’s web site and spend a lot of time doing research on this company • In fact, you may be wasting your time. All the information you need for the assignment is in the case. Case Skills Lieber Biz Plan Questions Discussion Week 4 Conclusion • There is no single right answer to a case • With practice you can become good at tackling – – – – – New industries Complex data Ambiguity Building your “toolkit” and making good tool selections And characterize problems and opportunities • PROCESSING the situation via – ISSUES – ANALYSIS – RECOMMENDATIONS Case Skills Lieber Biz Plan Questions Discussion Week 4 Lieber Case • What are we being asked to do? Lieber Case Skills Biz Plan Questions 18 Discussion Week 4 Lieber Case • What are we being asked to do? • Evaluate whether or not we can afford to drop our price by 20% Lieber Case Skills Biz Plan Questions 19 Discussion Week 4 Lieber Case • How do we do that? Lieber Case Skills Biz Plan Questions 20 Discussion Week 4 Lieber Case • How do we do that? • We are going to look at the profit we make off of each unit sold and check to see if it covers our fixed operating costs • Let’s look at the numbers Lieber Case Skills Biz Plan Questions 21 Discussion Week 4 Lieber Case Exit Presentation and double-click object Lieber Case Skills Biz Plan Questions 22 Discussion Week 4 Lieber Case • Questions? Lieber Case Skills Biz Plan Questions 23 Discussion Week 4 Business Plan Assignment • Each team selects one business plan – No duplicates – register on form through assignment guidelines pdf • Identify elements of a business plan – do not analyze the business plan • Note the assignment specs on the pdf Biz Plan Case Skills Lieber Questions 24 Discussion Week 4 Business Plan Assignment - Rules • Maximum 1000 words – Include word count • Don’t submit late Biz Plan Case Skills Lieber Questions 25 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 26 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 27 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 28 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 29 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 30 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 31 Discussion Week 4 Business Plan Assignment • You are NOT analyzing the business plan • Just show your knowledge and comprehension of the business plan • Access Bloom’s taxonomy to ensure you are not over-analyzing Biz Plan Case Skills Lieber Questions 32 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 33 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 34 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 35 Discussion Week 4 Business Plan Assignment Biz Plan Case Skills Lieber Questions 36 Discussion Week 4 Business Plan Assignment • Questions? Questions Case Skills Lieber Biz Plan 37 Discussion Week 4 Discussion Discussion Case Skills Lieber Biz Plan Questions 38 Week 4 Discussion Discussion Case Skills Lieber Biz Plan Questions 39