What's a Case Study?

If you are a business major, an economics major, a finance major, or a major in any related field, you will need to learn what a case study is (if you don't already). Case studies are, quite literally, the study of a particular case. In the business world, the case is a real-world situation, either on a small scale (such as what to do when there is a conflict between a manager and an employee) or on a large scale (such as how Starbucks managed to grow so rapidly on a global scale). Students read often quite interesting accounts of these situations, usually only a few pages, and are then asked to answer a series of questions about them. These questions range from common sensical to mathematical.

For example, students might be asked what Mr. Johnson should have done to calm down a frantic employee so as to prevent what he ended up doing, which was rampaging through the company plant. Such a question pulls upon students' prior experience in the business world, general human resource knowledge, and, again, common sense. Or, students might be asked budgetary questions, such as how they could project earnings into the next six months if the company took a particular risk (or chose not to take it). These questions demand a more honed sort of knowledge, often what the student was supposed to have learned in the course readings and lectures in the semester thus far.

The trick to case studies is that you have to employ a combination of critical thinking skills and regurgitative information skills. The latter is often much easier than the former; one need only root through one's notes and textbook, for the most part, to find the answers. But to think critically about the situation and not only answer the question, but give supportive reasons for the answer (which all case study assignments demand) requires the ability to think: to take the time, weigh different options, see how they might play out (in the mind's eye, of course), and then choose the best answer from among those that arose mentally.

In a way, case studies are quite fun! But while they appear relatively easy on the surface, they can be complex. Don't underestimate them, but by the same token, don't fear them either. Take your time, read the case, and allow yourself to think about the answers.