“A case study can be described as the study of an object, person or situation in its natural habitat in an uncontrolled and observational manner”.
When any management graduate undertakes his course; he will frequently come across with various case studies during his academic curriculum. There is no management course without referring to case studies. Research reveals that students may work with as many as 800 case studies during a two year MBA program. It indicates the importance and significance attached to case studies. Apart from Management, the medicine and other courses also club case studies as the part of the academic curriculum. In this context, it is essential to explain the meaning and definition of a case study.
WHAT IS CASE STUDY?
Case study is the study of a particular situation or case or a problem in a given scenario thoroughly after weighing the pros and cons, taking a practically feasible decision in the best interests for effective implementation. Case studies are essential for MBA so that the students can step into the shoes of the given case study, understand the implications and the complications involved and can have the feeling that of a trouble shooter. To put in a nut shell, case study is a simulation of a management situation that helps the management graduates to react in a real situation and helps them by providing right direction towards right decision making and problem solving.
The technical students like engineering graduates have both theory and laboratory activities. The faculty teaches the theory in the class room and then takes them to laboratory to try and test what was taught in the class. The students will be in a position to correlate the theoretical concepts and aspects with that of the practical experiments in the laboratory. As a result, the gap between learning and doing is minimized and also students can grasp, understand and memorize quickly. And while doing practical experiments in the laboratory they may have a few doubts and the same can be clarified, verified and authenticated.
The case studies are also just like laboratory activities. Since for management education the students can not be taken to industry for each and every theoretical concept the case studies will prove handy for them. When the management concepts are explained then the case studies of the companies are explained so that students in the class room can feel like in a simulated situation and they will be able to understand the concepts effectively and efficiently.
IMPORTANCE OF CASE STUDIES:
People, in general, love to listen stories, examples, case studies and anecdotes. No teaching will be complete without the same. And teaching for management graduates is no exception.
Case studies will arouse the interest amongst the students. Every class should have at least one case study to make the teaching process interesting and entertaining. The students, for a while, get into the shoes of the key player in the case study and think and act like him.
There are institutions which are specializing in case studies alone and they have acquired prominence globally. ICFAI has number of case studies under its reservoir and its case studies are accepted and adopted all over the world especially USA, Canada, UK and other European countries. There is specialization in every discipline in these days. IBSCDC which is the acronym for Icfai Business School Case Development Centre was set up in 2003 and it has developed over 2000 world class case studies. Its case studies have been featured in more than 30 international textbooks on Management. It has sold more than 1, 30,000 copies to various global B-schools and universities. It is the second largest producer of case studies in the world and the biggest producer of case studies in Asia. Under the visionary leadership of Dr.Nagendra V Chowdary, Dean of IBSCDC, who has passion for excellence, it is set to conquer the globe with innovative case studies. IBSCDC believes in quality research and catering quality case studies. It coined a new tool ‘Structured Assignment’ for the first time in the world. Now days, the world looks at the innovative tools and techniques. Innovation is the key to survival in this cut throat competitive world.