Decision making is what managers do. The decisions of managers directly influence revenues, costs, and profits of a business firm.
If you are to be successful manager, you must learn to be a good decision maker. You must develop the ability to apply classroom training in business and economics to so that you can learn how to
(1) make decision making easier,
(2) improve the analytical quality of decisions,
(3) reduce the time required to make decisions, and
(4) increase the frequency of correct decisions.
What is a Case Study:
This is a specialized type of technique used mainly by IIMA and IIMI.
A short situation (usually a problem faced by an organization or a manager) is given in less than a page.Participants have to discuss the situation and recommend the appropriate course of action.
Here all the participants possess an equal level of information about the situation since the same case is given to everybody.
Remember the evaluators are testing the information processing and analytical skills of the participants as well as the group skills.
How to approach Case Study:
1. Read the case thoroughly.
2. Define the central issue.
3. Define the firm's goals.
4. Identify the constraints to the problem.
5. Identify all the relevant alternatives.
6. Select the best alternative.
7. Develop an implementation plan.
Examples of Case Studies at IIMs :
1. In a company X, a woman is facing some problem as she is the only working member in her home.She takes frequent leaves and is quite insincere in her work.She is not able to deliver quality in her work.Her husband is idle and does not support her and asks her to continue her job.She does kitchen work, takes care of her kids and also work in the office.You are the manager of this company , so how will you solve her problem.(IIM Indore)
2. Ramu has been working with XYZ Co. Ltd. for the last six years and has been rated as one of the efficient in the job.One day he is caught with a stolen bulb leaving the duty.The management is in a predicament.What should it do?(IIM Indore)
3. A handloom company is running in heavy losses and its sales have gone down.You as a head of the team have to discuss various reasons for the same.The group also supposed to suggest possible solution to the identified problems.(IIM Ahmedabad)
4. The case was on a textile manufacturing co. established in 1984 having a global presence in the industry with its clientage consisting of big companies like Walmart etc.The comapny is presently managed by the son(MBA from Stanford) of the owner.The father doesn't believe in recruiting MBAs while the son is of the converse opinion.Suggest arguments that the son can use to convince his father.(IIM Bangalore)