Gillespie Business Economics 2e Chapter 5 – Case Study Solution
The second Gillespie Business Economics 2e Chapter 5 is the very last of the book. It covers the elements and tools that are at the core of case study analysis.
For those of you that have not yet completed Gillespie Business Economics 2e Chapter 5, we are going to discuss an example from the case study analysis portion of the book. You may know or even be familiar with the Case Study Solution, but for those of you that do not, please read on. This will save us some time reviewing this in greater detail.
This part of the book takes a factual approach. Most students, prior to taking this course, will have been shown in this example. They will understand the approach, and the goal is usually for the student to summarize. This occurs at the conclusion of the case study.
In this instance, the student chooses an example from their experience, with a friend who will get a raise if he or she acts as the “manager” for their project. This example was taken from the actual presentation that the new manager was required to make. This is a question and answer session and the actual presenter knows exactly what the answer will be.
After the manager has been selected, they will then present the findings from the project to the team and deliver the management lesson. This requires a thorough understanding of business management skills as well as data and factual analysis.
Step one is to select an example from your life that is related to what they are discussing. Do not choose a hypothetical situation, because the examples in this section are based on real world occurrences. Because of this, the scenario can only be about the topic at hand.
As they describe the example, they give a description of what took place at the roundtable discussion. In this case, it is discussing how an employee will be judged on performance. In other cases, a direct situation may be used. In this case, a more difficult situation to describe, yet also harder to ascertain the appropriate behavior, is given.
The second step in the scenario is to identify how potential conflict will arise. The result of a good case study will include the ideas and behaviors of both the manager and employee. The narrative by the manager is carefully selected and will be effective, but the problem with a generic example is that you are often just guessing as to the outcome.
The third step is to decide whether or not you would actually act on these ideas. This is the case of the hypothetical example. In this instance, the business student chose to actually act on these ideas. Therefore, a greater number of students will be able to predict the outcome and conduct their own business case analysis.
The fourth step in the scenario is to answer the question of why this lesson is important to the manager. The rationale for the lesson must be carefully chosen. This is a very critical step, because the lesson must be relevant to the case. A typical scenario will involve the same business issue, yet the critical step is the reason.
The fifth step is to give an explanation of the change that will occur after the lesson. This action, or inaction, can either benefit or hurt the company. The final step of the event is to explain how the change affects the situation. This may require completely new information or a re-reading of the lesson.
Remember, business students love this book. This final, step should be done with utmost care.