1. How to Excel in the Fox MBA Classroom MBA Essentials Arvind Parkhe Professor of International Business and Global Strategy

2. Agenda for Today ’ s Session General culture and expectationsGeneral culture and expectations The use of Case Analyses at the Fox SchoolThe use of Case Analyses at the Fox School –What are cases? –Why do we use them? –The frustrations and challenges you will experience. –How to get the most from a case analysis – some hints on how to prepare for a case discussion. –The in-class experience The Ellen Moore CaseThe Ellen Moore Case

3. The Use of Case Studies at the Fox School What are case studies?What are case studies? –Real business situations faced by real managers in real companies. –Complex problems with no obvious right answer. –You take the position of the decision-maker in the case. –Written primarily by case-writers at Harvard Business School

4. Why Do We Use Cases? We live in a world of big and complex problems…We live in a world of big and complex problems… –How do you know when to exit a market? –How do you know whether to expand plant capacity? –How do you respond when your product injures someone? –How do you price a new product in highly competitive markets? –How do you value an acquisition target? –How do you take a company public? –How do you increase sales while at the same time reducing costs? –How do you negotiate a contract with a labor union? –How do you know which markets are most likely to grow over the next decade and which ones are likely to decline?

5. Why Do We Use Cases? To help you develop frameworks of analysisTo help you develop frameworks of analysis –How to break a problem into smaller questions How to handle large amounts of data… And make decisions when you have limited dataHow to handle large amounts of data… And make decisions when you have limited data –Develop your skills in inference making and logic

6. Why Do We Use Cases? Develop your skills in writing succinctly, clearly and persuasivelyDevelop your skills in writing succinctly, clearly and persuasively Develop your impromptu public speaking skillsDevelop your impromptu public speaking skills Develop your skills in taking qualified risksDevelop your skills in taking qualified risks Develop your skills at applying important concepts in a variety of different situationsDevelop your skills at applying important concepts in a variety of different situations –This is where much integrative learning takes place

7. Why Do We Use Cases? Lectures are fine for conveying information …but wisdom cannot be “ told ”Lectures are fine for conveying information …but wisdom cannot be “ told ” –What is the difference between “ understanding ” and “ knowing ” something?

8. KNOWLEDGE Remembering information. COMPREHENSION Understanding information. APPLICATION Using what is already learned in new situations. ANALYSIS Understanding all the parts. SYNTHESIS Putting the parts together into something new. EVALUATION Judging the value.

9. KNOWLEDGE NameOutlineList DescribeSelectLabel DefineMatchState COMPREHENSION MatchExtendLocate GeneralizeIdentifyWrite Give examplesResearchExplain APPLICATION SketchChangeDraw ComputeRecordOperate SolveApplyUse ANALYSIS CompareClassifyDissect SurveyAdvertiseCategorize Separate AnalyzeDiagram SelectDivideDescribe SYNTHESIS CreateInventProduce HypothesizeDesignCompose ConstructDevelopModify PlanReviseTranslate EVALUATION DefendDecidePredict DebateDetermineSuppose JudgeCriticizeSummarize JustifyRecommendSupport

10. Some Frustrations You Can Expect And a few Suggestions on How To Handle Them “ Too much information/not enough information ”“ Too much information/not enough information ” –Suggestions… Clearly define the decision problemClearly define the decision problem Clearly define specific questions you need to answer in order to solve the primary problemClearly define specific questions you need to answer in order to solve the primary problem Get comfortable drawing inferences from limited dataGet comfortable drawing inferences from limited data After a class discussion… “ that was enjoyable and interesting, but what did I get out of it? ”After a class discussion… “ that was enjoyable and interesting, but what did I get out of it? ” –Suggestion After class, write down three or four major general learnings from the caseAfter class, write down three or four major general learnings from the case

11. Some Frustrations You Can Expect And a few Suggestions on How To Handle Them “ I don ’ t care about (or don ’ t like) that industry ” “ I will never work in that industry, why should I care about this case? ”“ I don ’ t care about (or don ’ t like) that industry ” “ I will never work in that industry, why should I care about this case? ” –Remember You are not studying an industry context. Keep in mind, you are focusing on learning how to solve general problems that transcend industry boundariesYou are not studying an industry context. Keep in mind, you are focusing on learning how to solve general problems that transcend industry boundaries “ This case takes place in 1982, it ’ s out of date. ”“ This case takes place in 1982, it ’ s out of date. ” –Recognize… Major business problems/decisions are timelessMajor business problems/decisions are timeless The cases your professors select are usually the best available to demonstrate how to solve a particular problemThe cases your professors select are usually the best available to demonstrate how to solve a particular problem

12. Some Frustrations You Can Expect And a few Suggestions on How To Handle Them “ Oh no! The ideas discussed in class do not look like the ones in my case write-up …I have failed! ”“ Oh no! The ideas discussed in class do not look like the ones in my case write-up …I have failed! ” –Remember… The purpose of class discussion is often to go beyond your written analyses into new areasThe purpose of class discussion is often to go beyond your written analyses into new areas “ So…what is the right answer? What do you mean there ’ s no one right answer? ”“ So…what is the right answer? What do you mean there ’ s no one right answer? ” –Remember… There is sound judgment. In many cases, sound judgment can lead different people to different answers.There is sound judgment. In many cases, sound judgment can lead different people to different answers.

13. Some Frustrations You Can Expect And a few Suggestions on How To Handle Them “ If there is no right answer, how can the professor grade my work? ”“ If there is no right answer, how can the professor grade my work? ” –Remember… There is good logic/reasoning and poor logic/reasoningThere is good logic/reasoning and poor logic/reasoning The soundness and how thoroughly you cover key issues is the focus of evaluationThe soundness and how thoroughly you cover key issues is the focus of evaluation

14. Some Frustrations You Can Expect And a few Suggestions on How To Handle Them “ What did the company end up doing?:“ What did the company end up doing?: –Remember… It really does not matter…it may not have been the best course of action anywayIt really does not matter…it may not have been the best course of action anyway You are not here to study “ outcomes ” … you are here to learn a process of decision makingYou are not here to study “ outcomes ” … you are here to learn a process of decision making “ How do I know which financial analyses to do? ”“ How do I know which financial analyses to do? ” –Remember… Focus on the questions you are trying to answerFocus on the questions you are trying to answer Put yourself in the shoes of the decision maker in the casePut yourself in the shoes of the decision maker in the case “ I would talk more in class, but I ’ m nervous. ”“ I would talk more in class, but I ’ m nervous. ” –Remember… Trust us…the classroom is a reasonably safe environment…we will not embarrass youTrust us…the classroom is a reasonably safe environment…we will not embarrass you

15. Learning From Case Discussions… A Few Hints on How to Prepare 1.Read the case quickly at first Take a few rough notesTake a few rough notes Focus on gaining a sense of the general decision problemFocus on gaining a sense of the general decision problem 2.Step back and break-down the problem... what are the sub-questions you need to answer? 3.Go back and read the case carefully – build your fact base Organize case facts on paper according to each sub- question you are trying to answerOrganize case facts on paper according to each sub- question you are trying to answer

16. Learning From Case Discussions… A Few Hints on How to Prepare 4.Identify alternative actions that could be taken to address the central problem 5.For each alternative, write down the positive points and negative points Consider what it would take to overcome the “ negatives ”Consider what it would take to overcome the “ negatives ” Include financial analyses whenever possibleInclude financial analyses whenever possible 6.Propose the alternative you think is best and note what factors led you to make that decision

17. The In-Class Experience You “ own ” the discussionYou “ own ” the discussion –The role of the professor is to manage the discussion and keep student comments organized Always listen carefullyAlways listen carefully –Do not carry on a dialogue strictly with the professor…respond to the statements made by your classmates Constructive conflict and debate will often occurConstructive conflict and debate will often occur –The ideal case discussion involves a lot of interaction between students “ Cold calls ” and “ warm calls ”“ Cold calls ” and “ warm calls ” How to overcome shyness/fearHow to overcome shyness/fear