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How to Excel in the Fox MBA Classroom

How to Excel in the Fox MBA Classroom. MBA Essentials. Arvind Parkhe Professor of International Business and Global Strategy. Agenda for Today ’ s Session. General culture and expectations The use of Case Analyses at the Fox School What are cases? Why do we use them?

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How to Excel in the Fox MBA Classroom

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  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 expectations • The 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 Case

  3. The Use of Case Studies at the Fox School • What are case studies? • Realbusiness situations faced by real managers in realcompanies. • 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… • 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 analysis • How to break a problem into smaller questions • How 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 persuasively • Develop your impromptu public speaking skills • Develop your skills in taking qualified risks • Develop 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” • What is the difference between “understanding” and “knowing” something?

  8. KNOWLEDGE Name Outline List Describe Select Label Define Match State COMPREHENSION Match Extend Locate Generalize Identify Write Give examples Research Explain APPLICATION Sketch Change Draw Compute Record Operate Solve Apply Use ANALYSIS Compare Classify Dissect Survey Advertise Categorize Separate Analyze Diagram Select Divide Describe SYNTHESIS Create Invent Produce Hypothesize Design Compose Construct Develop Modify Plan Revise Translate EVALUATION Defend Decide Predict Debate Determine Suppose Judge Criticize Summarize Justify Recommend Support

  9. Some Frustrations You Can ExpectAnd a few Suggestions on How To Handle Them • “Too much information/not enough information” • Suggestions… • Clearly define the decision problem • Clearly define specific questions you need to answer in order to solve the primary problem • Get comfortable drawing inferences from limited data • 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 case

  10. Some Frustrations You Can ExpectAnd 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?” • Remember • You 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.” • Recognize… • Major business problems/decisions are timeless • The cases your professors select are usually the best available to demonstrate how to solve a particular problem

  11. Some Frustrations You Can ExpectAnd 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!” • Remember… • The 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?” • Remember… • There is sound judgment. In many cases, sound judgment can lead different people to different answers.

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

  13. Some Frustrations You Can ExpectAnd a few Suggestions on How To Handle Them • “What did the company end up doing?: • Remember… • It 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 making • “How do I know which financial analyses to do?” • Remember… • Focus on the questions you are trying to answer • Put yourself in the shoes of the decision maker in the case • “I would talk more in class, but I’m nervous.” • Remember… • Trust us…the classroom is a reasonably safe environment…we will not embarrass you

  14. Learning From Case Discussions… A Few Hints on How to Prepare • Read the case quickly at first • Take a few rough notes • Focus on gaining a sense of the general decision problem • Step back and break-down the problem... what are the sub-questions you need to answer? • 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 answer

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

  16. The In-Class Experience • You “own” the discussion • The role of the professor is to manage the discussion and keep student comments organized • Always 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 occur • The ideal case discussion involves a lot of interaction between students • “Cold calls”and “warm calls” • How to overcome shyness/fear

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