HELSINKI UNIVERSITY OF TECHNOLOGY

DEPARTMENT OF INDUSTRIAL ENGINEERING AND MANAGEMENT

INSTITUTE OF STRATEGY AND INTERNATIONAL BUSINESS

King of Cases
A practical and theoretical guide to solving
management cases and winning case competitions

Olli Salo 2007-03-01

olli@ollisalo.net

Preface
Looking out from the window of the airplane, the Helsinki Team was
admiring the gradually vanishing landscape of Brussels. After a tough week
of competition at the TIMES 2006 finals, they felt its a time to relax.
Looking back at the past days, each was wondering, what were the key
elements to their success? How does one successfully understand, solve and
present cases? How to win a case competition?
This manual builds on the years of continuing success of Prodeko's TIMES teams. The
purpose is to preserve and spread the knowledge gained during the years. Helsinki
University of Technology has been among the most successful participants in the annual
competition since it was started in 1994. Every year the Prodeko team has won its semifinals and made it to the final competition.
The case solving advice contained in this document can be used for enhancing one's
general analytical thinking and problem solving skills, but more specifically it is targeted
to teams pursuing success in various case-based courses and competitions.
There are three major sources of data backing up the recommendations and guidelines of
this guide. Firstly, written material by competition participants and scholars, such as
Niklas Kari's guide Ace your Case (from this the name of this guide is also derived), is
used. Secondly, an empirical study on presentations' effect on performance has been
specifically conducted for this report. Thirdly and perhaps most importantly, the tacit
knowledge gathered by previous teams has been extensively collected with interviews
and less formal discussions.
Cases are an advanced teaching tool. They combine general problem solving skills with
more specific applications, and often also give insight to different industries and different
companies. Doing experiments and hands-on work in the area of social sciences in
general and also in management studies is often impossible, and here cases help by
placing the students in the position of the management in a simulated setting. The setting
tries to mimic the real life decision making process to a high enough degree.
Solving a business case efficiently requires and develops analytical abilities, creativity,
know-how of analytical tools, presentation skills and a basic understanding of doing
business in various settings.
Solving cases is both art and science. While the science part can be learned through
studying strategy, management, presentation skills and related disciplines, the
craftsmanship can only be learnt through practice. I hope that after reading this guide you
and your team is able to speed up your learning process and become masters in the field.
If you have any questions relating to this guide or solving cases, Im always ready to
help. You can contact me via email at olli@ollisalo.net.
Espoo, March 1, 2007
Olli Salo

Acknowledgements
This guide was not written in isolation: it is more like a step in the larger
journey on improving case solving skills at the Helsinki University of
Technology. Also numerous individuals have been of great help in writing
this guide.
Firstly I would wish to thank the faculty and staff of the Department of Industrial
Engineering and Management for their continuous efforts at educating the students in the
discipline of management. The core skills in solving cases can best be acquired from the
various courses offered by the department. Professor Tomi Laamanen deserves special
thanks for his continuous effort in guiding case competition teams even beyond the
courses he teaches. Antti Sillanp deserves special thanks for supervising the report
creation process and offering valuable suggestions on how to do it.
Important contributors to the ideas presented by this guide are my TIMES 2006 case
competition teammates: Heikki Frkkil, Anni Kauranen and Tommi Kemppainen.
Numerous discussions and practical training in preparation for the TIMES semi-finals
and finals have been an incredibly valuable source of new ideas. I would also like to
thank the members of other teams in which I have previously competed in case solving.
There is no case competition without a jury. I would like to thank the active jury
members who have not only devoted their time to act as a jury in different competitions,
but have also found time to answer my survey related to this study: Heikki Kivilaakso,
Timo Rinne, Mikko Rnkk and Teppo Voutilainen.
Also the following successful case competition participants have assisted in creating this
report by sharing their insight and experience: Harry Broman, Ville Heikkil, Antti
Hovila, Heikki Kauma, Aleksi Krkkinen, Mats Sarelin, Heikki Saukola and Petri
Valkama.
Beyond these people mentioned by name I would wish to thank all those people who
have helped in creating this report: respondents to the audience and competitor surveys,
members of teams whose presentations I have observed and analyzed both in Finland and
abroad, jury members giving valuable feedback in different case competitions and those
which I have encountered in some other case setting.
Of special help in creating this guide has been Meeri Mkrinen, who beyond personal
support has helped in the analysis and visualization of data.

Table of contents
1.

INTRODUCTION ............................................................................................................................. 1
1.1.
1.2.
1.3.
1.4.
1.5.

2.

EMPIRICAL STUDY........................................................................................................................ 9
2.1.
2.2.
2.3.
2.4.
2.5.
2.6.
2.7.

3.

OWN EXPERIENCE AND LITERATURE STUDY ............................................................................... 10

INFORMAL DISCUSSIONS WITH TEAM AND FRIENDS .................................................................... 14
FOCUS GROUP SURVEY ............................................................................................................... 16
QUESTIONNAIRE TO JURY ........................................................................................................... 22
PERFORMANCE ANALYSIS .......................................................................................................... 31
QUESTIONNAIRE TO WIDER AUDIENCE ....................................................................................... 42
CLOSING REMARKS ON THE EMPIRICAL RESEARCH ..................................................................... 54

PREPARING THE CASE SOLUTION......................................................................................... 56

3.1.
3.2.
3.3.
3.4.
3.5.
3.6.
3.7.

4.

WHAT IS A CASE ........................................................................................................................... 1

WHAT IS A SOLVED CASE.............................................................................................................. 2
WHAT IS A SUCCESSFULLY SOLVED CASE ..................................................................................... 3
WHAT IS A WINNING CASE SOLUTION ........................................................................................... 4
AND WHATS BEHIND A WINNING SOLUTION ................................................................................ 8

TIME ALLOCATION ..................................................................................................................... 56

ROLE DIVISION ........................................................................................................................... 56
GROUP DIVISION AND WORK COORDINATION ............................................................................. 58
THE SOLVING ATMOSPHERE ....................................................................................................... 60
TOP-DOWN, BOTTOM-UP AND MIXED METHODS.......................................................................... 61
WAYS OF WORKING .................................................................................................................... 64
IDEA CREATION .......................................................................................................................... 69

A WINNING CASE SOLUTION ................................................................................................... 74

4.1. ELEMENTS OF A CASE SOLUTION ................................................................................................ 74
4.2. STRUCTURE OF A CASE SOLUTION .............................................................................................. 75
4.3. BACKGROUND ANALYSIS ........................................................................................................... 77
4.4. PROBLEM STATEMENT................................................................................................................ 78
4.5. ANALYSIS FRAMEWORKS ........................................................................................................... 79
4.6. ANALYSES .................................................................................................................................. 81
4.7. RECOMMENDATION .................................................................................................................... 88
4.8. RISKS ......................................................................................................................................... 90
4.9. FINANCIAL IMPLICATIONS .......................................................................................................... 91
4.10. SYNTHESIS ................................................................................................................................. 92
4.11. BACKUP SLIDES .......................................................................................................................... 92

5.

EFFECTIVE PRESENTATIONS.................................................................................................. 93
5.1. SLIDE DESIGN ............................................................................................................................. 93
5.2. PRESENTING ............................................................................................................................... 96

6.

GENERAL TIPS AND TRICKS.................................................................................................. 100

6.1.
6.2.
6.3.
6.4.

7.

FORMING A TEAM ..................................................................................................................... 100

TRAINING ................................................................................................................................. 101
THE JURY ................................................................................................................................. 102
TIMES SPECIFIC ADVICE .......................................................................................................... 102

SYNTHESIS................................................................................................................................... 104

8.

TERMS AND EXPLANATIONS................................................................................................. 105

9.

REFERENCES .............................................................................................................................. 106

APPENDIX A GRADING SHEET FROM TIMES FINALS 2006

APPENDIX B GRADING SHEET FROM ACS 2005 AND 2006
APPENDIX C QUESTIONNAIRE FOR CASE COMPETITION PARTICIPANTS
APPENDIX D QUESTIONNAIRE FOR JURY MEMBERS6

1. Introduction
The first chapter first presents an overview of what to expect from a case
and what to do with them. The purpose is to establish the standard case
solving principles and terminology that are then expanded in later chapters.
While the concrete skills required to solve cases are not presented yet, after
reading this chapter you should possess the necessary background
knowledge to enjoy being in the audience of a case competition.

1.1. What is a case

A typical management case is simply a description of a real or imaginary firm and its
surroundings in a certain point in time. This description might be augmented with
questions or tasks that point the solver towards focusing on some issues of the situation
and giving less attention to others. Often, however, the case description is stand-alone,
and the reader must herself determine what is relevant in the situation at hand. If there are
no explicitly formulated questions, it is implicit that the question to tackle is what
should be done in the described situation? (Bonoma 1989)
Cases were originally used in disciplines such as law and medicine to teach students.
They were first used in the teaching of management and business administration in the
early 1920s at Harvard Graduate School of Business Administration, and have since
gained worldwide support as a learning tool. (Roberts 1983)
Quite often the firms are facing one or more difficulties to tackle or choices to make.
However, this is not always the case and sometimes it might seem that all is going well
and there are no clear new paths that the company might follow.
The case usually consists of both written text and supporting exhibits in the forms of
tables, diagrams, charts etc. While most of the data can often be used in some way or the
other, the case may also contain data that clearly has no relevance to the problem at hand.
Cases are prepared by various institutes of learning, such as the Harvard Business School,
INSEAD, ICFAI and others. The topics of the cases used for teaching managements vary
a lot. Typical issues are major strategy decisions, restructuring and organizational issues
and problems relating to operations, marketing, competition, market entry, investment
decisions and other fields. While the focal unit of analysis is usually a single firm, the
scope of analysis can vary a lot: individual people, teams, departments, SBU's,
companies, alliances, networks, industries and even whole nations are sometimes the
subject of the case. (ECCH 2006)
There are some underlying assumptions, or rules of the game behind case texts:

Numerical data, projections and clearly stated facts can be assumed to be correct
or at least to the best understanding of the people involved. Naturally they can
also be challenged to some degree, especially in the dimension of relevance.

Opinions, statements and other personal comments usually represent only the
reality of the person expressing them and can be challenged

While explicit questions might be included in the case, there might also be some
underlying issues that are not explicitly formulated but still must be tackled. Also
the relevance of the questions can be challenged.

The decision to be done is located in the present day of the case reality, meaning
that one should focus on what to do next and not on how the company could have
performed differently in the past.

Cases are delivered typically as a written report of about 5 to 50 pages with the
appendices in the end giving more specific data. Sometimes the format can vary and
some of the information might be given for example during an oral briefing session
before the case, on a multimedia presentation CD-ROM, in a database accessible with a
computer or other means. Quite often the use of additional data sources not explicitly
given, including course books, is not allowed in case competitions.

1.2. What is a solved case

It is important to notice that cases are typically not solved in competitions, but in
classroom discussions. Hence many of the guides available on this topic are more focused
on preparing for and participating in classroom discussions than giving stand-alone case
presentations. However, this case guide is aimed at case competition participants and
tailored towards solving cases in a team.
The format of a case solution varies from a short paper report to a presentation delivered
by a case solving team. This guide focuses on oral presentations presented to a jury and
supported by presentation material in the format of slides - however the general
frameworks and solution methods presented later also lend themselves to solutions
delivered in other formats.
To solve the case, the team is given a set amount of time. This can range from the
plenteous weeks or even months given in some school courses to the strict 3-4 hours
typical for TIMES competitions. When a longer time period is given the team has more
flexibility as to where to meet and how to split up for work, as well as to decide how
many hours it will put to the case altogether.
Cases in competitions are typically solved in war rooms, which are meeting rooms
reserved exclusively for the case team for the duration of the preparation time. Depending
on the setting, they should have thinking aids like flipcharts, scrap paper, pens and so on.
The team is given the case together with the material needed for preparing the solution,
such as transparencies and pens.
After the preparation time is over, its time to enter the presentation room. The jury,
audience and possibly also competing teams are sitting and eagerly waiting for the teams
presentation. After introducing the team members, it is time to start the presentation.
The case solution presentation typically first gives an overview of the situation, proceeds
with analyzing different aspects of it, and based on the analysis gives a recommendation
of what the decision makers of the focal unit should do about the issues identified. This
presentation is delivered to a jury and possible general audience. Depending on the

situation, the duration of the presentation, number of slides, number of speakers and other
aspects of the situation might be controlled.
Typically a case presentation is followed by a questioning session from the jury or the
general audience. In this session the analyses, arguments and given recommendation are
explored in more detail in those areas that the jury feels deserve more attention. The case
team is also usually allowed to present new ideas and maybe even show support slides
not shown during the presentation, however the main argument should be delivered
before the questioning session begins.
A case solution in a competition or class room setting is then evaluated by the jury. Often
the jury makes notes and preliminary grading right after the presentation. After all the
teams are done the jury members gather together and hold a meeting where they compare
their notes and give the final points and rankings.

1.3. What is a successfully solved case

The information above sets the framework in which all teams operate and give a general
idea of what the jury expects to see from each team. Sometimes teams come to case
competitions unprepared and do not even know what to expect, so by having a clear idea
of what to do one is already ahead of some competitors. However, just possessing these
threshold competencies is only enough to ensure you will not make a complete fool out
of yourselves, it is not enough for a successful case solution.
There are typically no right solutions to a case study, but usually there are some really
wrong answers and some really good answers. Unlike in for example mathematics, the
grading of case solutions can not be based on some kind of correctness metric
(Hammond 1987). Rather, the solution has to be assessed from a number of directions.
To determine the criteria for a successful case solution, the marking sheets of the jury can
be used as a guideline. Appendix A contains the actual grading sheet used in the finals of
the TIMES competition 2006 by the jury members. Appendix B displays the evaluation
form used 2006 by the Helsinki University of Technology course TU-91.2015 Advanced
Case-Seminar in Strategy.
Based on this material, the elements of a successful case solution can be roughly
summarized according to Figure 1. The area of each element corresponds to their relative
importance as loosely determined by the percentages in Appendix A and the amount of
grading elements allotted to each section in Appendix B.

Content

Delivery

Key issues

Analysis

Presenting

Synthesis

Defending

Figure 1. Value bringing elements of a case solution

To elaborate further, based on the marking sheets in the Appendices, a case solution will
be appreciated by the judges when

The key issues, meaning the important aspects of the situation, are properly
identified and presented. This means that the case team demonstrates that they
understand what parts of the situation are critical and which problems are less
important.

The identified problems are then further analyzed using appropriate tools and
frameworks in a correct way. The tools can be either standard textbook
frameworks such as the BCG matrix, GE/McKinsey matrix, five forces, VRIOS
etc., or they can be invented and explained by the case team. What is important to
notice is that while many presentations are focusing heavily on the analysis part,
its only a very small fraction of the total points.

The analysis is not just done for the sake of analyzing, but rather points out
certain decisions that should be made. The synthesis part consists of the teams
recommendations and action plan for the focal company. A good synthesis is
relevant, feasible, addresses the identified problems and takes into account
alternatives and risks.

The whole solution must be presented in a professional way so that the jury
understands the solution. Clarity, use of visuals and control of voice and body
language are valued.

Defending, or being able to answer questions given by the jury so that they are
convinced of the logic behind the recommendations and can feel confident that
the team has understood the situation.

This is how the grading officially looks. However, the clinical analysis above gives a
somewhat wrong perspective on how to actually win a case competition. Next we will go
beyond the grading sheet and look at what really makes a winning case solution.

1.4. What is a winning case solution

It is most essential that the jury understands the solution. Most teams do not
understand that the quality per se does not matter, but the quality as perceived by
the jury is essential. Especially when teams get more experienced, they are able to
do much more analysis in 4 hours that they can present in 20 minutes. - Juror
(jury survey)
4

To answer the simple question of what makes a winning case solution; lets start with a
somewhat complex visual metaphor. Figure 2 depicts a typical case solution and
presentation for a typical team.

Preparation phase

Presentation

Jurys understanding

Figure 2. Case solution funnel

During from the preparation phase, the team has a bunch of ideas that are somewhat
related to the problem at hand. The ideas are often analyses, observations about what to
recommend and so on. They emerge during the preparation time at random moments, and
typically are then forced together into some kind of a sequential structure.
The case team has been intensively involved in the solution process for hours, and the
solution seems excellent to them. Some analyses are so great that they are carried out
very deeply, while those ideas appearing later maybe receive less attention. Suddenly
somebody from the team realizes there is only little time left, and so its time to plan the
presentation. All the great ideas are grouped together somehow under the heading of key
issues, analyses and recommendations, and the team is ready to present.
The presentation, however, is like a bottleneck or a funnel. Not all ideas can be
communicated during the short time allotted for the team to present. In the end, the jury
gets a rather distorted picture of what the great ideas of the preparation time were. They
only hear the presentation; they can not know anything left out or the implicit
connections behind the issues.
Great ideas are spheres, the logical connections between them are strings and the funnel
represents the constraints of the presentation setting, such as the teams skills in
presenting the ideas and the jurys capability of absorbing them. Some spheres are
deformed in their way through.
The question of how to deliver a winning case can be reformulated: What different ways
are there to make the collection of spheres received by the jury as value-adding as
possible?
You might want to take a minute or two to think about the problem before going further.
Here are some possibilities and their connections with the problem at hand identified by
the author of this guide:

Make the funnel bigger

o by improving your presentation skills

o by making it easier for the jury to understand your ideas

Put more valuable spheres through the funnel

o by having more relevant analyses
o by letting go of ideas that are nice but not critical yet still take up time
o by knowing what kinds of ideas the jury wants to hear

Make the jury understand and remember the value of the your spheres
o by stating the so what of each analysis and other part of presentation
o by clarifying all apparent misunderstandings in the questions phase
o by having special tricks or other dissimilarities with other teams

Polish the spheres so that they fit the funnel better

o favor ideas that are communicable and clear over messy ones
o rehearse delivering the content in an effective way

Put your most valuable spheres down the funnel more than once to ensure they get
through
o by summarizing, synthesizing and using agendas

By delivering them in a logical order so the strings do not get tangled

o proceed in a logical order

By making the jury help you by pulling the spheres

o have an atmosphere of professionalism
o create a sense of excitement
o make the logical string connecting them easy to follow

The collection above reads a bit like a shopping list of tricks rather than an analytical
answer to the question of how to make a winning case solution. However, a clear theme
emerges from the funnel metaphor: the presentation is the only element really graded by
the jury. Only things mentioned and showed during the presentation can affect the
grading. This does not mean that content is irrelevant, just that only content delivered has
any value. Put in other words, the team which has the best thinking, greatest ideas and
most brilliant solutions can loose to a group which has simpler ideas but is able to get
them through.
Figure 3 below shows the relationship between content and delivery. The grey shaded
area in the top left half of the diagram represent the area where content is lost due to
lacking competencies in delivery. The white area in bottom right half is where there is
sufficient skills in delivery, but they are not harnessed to their fullest potential. The 45
degree line is where the two skills create a perfect match. This diagram is derived from
the answers of the jury survey explained in section 2.4.

Team types
1: Content overkill
2: Stageshow
3: Balanced

Content

1
2

Delivery
Figure 3. Content/Delivery relationship

The diagram also has three different types of team evolution paths. Team 1 is a typical
engineer approach, where the focus is heavily on content but not much is delivered
through. Unconnected brilliant ideas are wasted because the jury does not understand
them. We are just too smart for these people could be their internal explanation for
failure. To cope, they result in reducing the amount of content.
Team 2 is more of a traveling stageshow than an analytical think tank. They have clear
structure, logical approach and charisma, but the actual content is lacking. These people
just are so boring academic could be their mindset when accepting critique. To improve
they tune down the show a bit.
The balanced team 3 is constantly striving towards higher quality content that they are
able to present in a coherent and easily understandable way. This is what this guide tries
to teach.

1.5. And whats behind a winning solution

So a winning case solution is one where the jury effortlessly follows an impeccable and
eloquent presentation covering the key issues with relevant analyses and feasible
recommendations. How to put one together? The rest of this guide tries to answer this
question. This report is structured according to Figure 4.

1. Introduction
2. Empirical study
3. Preparing the case solution
4. A winning case solution
5. Effective presentations
6. General tips and tricks
7. Synthesis
Figure 4. The structure of this report

After this primer to good case solutions, the next chapter presents the empirical studies
done to determine the drivers of good case solutions. This chapter contains valuable
insights and the empirical study is the source of most of the recommendations presented
later. However, if you are in a hurry and just wish to see the concrete recommendations
and tips, you can jump to the later chapters where the results of the empirical study are
analyzed.
Chapters three to five go over a case competition presentation from preparation to content
to how to present in as effectively as possible. Chapter six contains general tips and tricks
that teams can use to improve their presentations. Lastly a synthesis of the key ideas is
presented in chapter seven.

2. Empirical study
The second presents the empirical studies conducted to discover the recipes
for success. A layered approach was used, where different smaller studies
follow each other in an attempt to uncover the best practices in different
case solving areas. The findings of this empirical study form the backbone
of later chapters, and the results from each study are elaborated in the later
chapters. A reader in haste might wish to jump over this chapter directly to
the recommendations.
The purpose of the empirical study was to introduce rigor into the recommendations
given in this report. Instead of relying on the experience of a single individual or team,
the advice given in this report is gathered from a broad range of sources.
When planning this study, the initial idea was to determine the best study method to
tackle the problem. However, since the subject matter is so large, no single tool can be
used to cover all the relevant aspects. To alleviate this problem, a layered approach was
used. In this approach, the problem is tackled with a series of separate studies building
atop the findings from previous ones.
Figure 5 gives an overview of how and when each element of case solutions was studied.

Study method

Study phase
1

Own experience and literature study

Informal discussions with team and friends

Focus group survey

3
4

Questionnaire to jury

Performance analysis

Idea and hypothesis

generation

Result validation

Questionnaire to wider audience

Subject

General understanding

Preparation

Solving process

Presentation

Evaluation

Learning

Figure 5. Empirical study methods and subjects studied

Starting from the bottom of the diagram, case solving can be split into four phases.
Preparation deals with the training and discussions of the team conducted before the
actual case start. The solving process is what happens inside the case solving room during
the allotted time, and the presentation is what the audience and jury members see. The
presentation is then evaluated by the jury. Ideally the feedback received is then fed back
to each of the stages of the case solving. This process was studied using six different
approaches.

Before any problem can be approached in a clear and rational way, it must be understood
by the researchers. At this stage the results are more ideas, opinions and bits of wisdom
than actual verifiable facts.
Firstly, my own experience in solving and judging cases as well as previous material
covering the area was used to determine how the problem should be approached. Also
some general ideas and hypotheses were created that were later tested in subsequent
stages. Second a series of informal discussions with team members in different case
solving competitions as well as people on other teams or in the jury were used to widen
my own perspective on case solving.
Moving to the idea and hypothesis generation phase, a more diverse set of opinions was
collected using surveys. In this I used two study methods.
A survey was sent to a focus group of students who have performed well in case solving
competitions. The purpose of this questionnaire was to gather a larger variety of opinions.
Also a questionnaire was sent to a selected group of eight active jury members, who have
been in the jury of a case competition two or more times. This survey was done to include
the point of view of the people judging the cases so that one knows what the listeners
expect.
As the results obtained from a large set of interviews and own experiences are still
qualitative in nature, the final phase of analysis involved quantifying them.
A quantitative analysis was performed on the quantifiable aspects of case solution slides
to determine if there are any statistically significant determinants of success based on the
slides. Finally, a questionnaire was sent to a larger audience of those who had
participated either as contestants or audience members in one or more case solving
events. The purpose of this final questionnaire was to validate the quantitative results
obtained earlier with qualitative data.
Each of the separate layers of inquiry is covered in the following sections in terms of
research questions, data, methods and results. The nuggets of information discovered are
collected together, analyzed and presented in later chapters.
Learning from feedback is a topic that was not explicitly studied in the scope of this
report. Some remarks on learning based on my own experience are given, but they are in
no means comprehensive. Learning from cases is a complicated topic on its own right.
See Shapiros (1988) or Bonomas (1989) guides for primers in learning from case
solving.

2.1. Own experience and literature study

2.1.1.

Own experience

The starting point for this study was reflecting back on my own experience with case
solving. I have partaken in the following case-related activities:

Case training evening with McKinsey & Company, participant, 2003

TKK course Advanced Case-Seminar in Strategy, participant, 2004

10

TKK course Advanced Case-Seminar in Strategy, course assistant, 2005

Business Masters case competition, competitor, 2005

BCG Masters case competition, competitor, 2006

TIMES case competition, competitor, 2006

HSE Corporate Credit International Case Competition, competitor, 2006

TKK course Advanced Case-Seminar in Strategy, guest lecturer, 2006

TIMES case competition, local qualifications, assistant to the jury, 2006

Altogether I have participated in the solving process in approximately 30 cases, of which

most were related to competing in and preparing for the TIMES 2006 competition. I have
also been in the jury in 6 different case sessions, grading altogether about 30 case
presentations.
While this experience is valuable in writing this report, it also introduces a bias. The
opinions and findings based on my own experience are likely to reflect the style of
solving cases used by myself and those teams I have been a part of. Other teams have
other preferred ways of working and presenting that might be equally good. The teams in
which I have had an influence will most likely have experienced lock-in: instead of being
truly open to good ideas, we have mainly conducted local search, meaning that we have
focused on streamlining and incrementally improving our process rather than being open
to completely different, and maybe better, ways of doing things.
In analyzing my own bias, I have tried to compare my view on solving cases with those
presented both in the literature and by other case competition participants. From these
discussions I would deduct that I tend to place more importance on structure, clarity and
flow of solution than others. In extreme cases, this would mean favoring solutions that
are easy to present over ones that are complicated, in such cases where the superiority of
either can not be clearly seen.
In addition to these idea-level biases, one naturally becomes attached to ones practical
ways of doing things. In terms of structuring the solution process and presentation, I
prefer the BPARS-framework explained later in chapter 3.6.2. I feel it is one of the
cornerstones of our teams success in TIMES, but at the same time understand that there
must exist equally good, if not better, ways of structuring case solutions.
Two steps have been taken to combat the bias stemming from personal opinion. Firstly,
the later phases of this study draw from a larger set of individuals and attempt to do that
in a transparent and value-free fashion. Secondly, I have attempted to clearly mark those
results and recommendations that are solely based on my own experience and not
validated by the study by including the text (own experience) after the claim as an
indicator of source.

2.1.2.

Literature study

This is not the first attempt to write a case competition guide. Instead of building it solely
on own research, a set of earlier reports was used in constructing the findings.

11

Case solving can be seen as a small stream mingled with the larger schools of though
such as the industrial organization school, resource based view and dynamic capabilities
view. The most successful frameworks and tools from the literature are usually applied in
case solving, and the changes in the popularity of different schools of strategy are
reflected in the different analyses used.
On the other hand, case solving itself is part of the subject matter of management
cognition studies, which tries to understand managers think and act. The studies of the
effect of top management team composition on performance also are somewhat related to
the group dynamics and group formation problems potential case competition participants
face. Social psychology, cognitive psychology and even sociology are also related to the
problem solving processes that the team has to conduct.
However, the theoretical literature was not used as a starting point for the literature study
of this report. Firstly, the literature on tools and strategy in general should be covered by
the previous studies the participants have completed. While some suggestions on the
applicability of different frameworks are given in this report, the basics of strategic
management are assumed to be known. Secondly, the studies on problem solving and
cognitive issues is general are too broad to be usable in a very practical guide such as
this.
Instead, the literature study is focused on guides and instructions specific to solving
cases. The literature research was done using ECCHs database of case solving literature.
From this database one is able to extract a large collection of notes and guides written by
experienced case solving teachers. Another source for information was the earlier guides
prepared at TKK for case solving.
The insight given by the different sources is presented in later chapters in the relevant
context and is identified with the author and year of the report. Full bibliographical
references are included in the end of the report.
The following materials, presented below in the order of publication, have been used

Note on Case Analysis (Haywood-Farmer 1979)

o A prescriptive guide offering a 12 step method for preparing a case
solution. Very academic and rationality based approach, little emphasis on
the role of the solver.

Notes for the Guidance of Students in the use of Case Studies and the Case Study
Method in Teaching and Learning (Roberts 1983)
o Presents a set of questions and analysis areas developed by the author to
ensure solution completeness and aid in its development.

How to Avoid Getting Lost in the Numbers (Maister 1985)

o A quick guide to the calculations done in typical business case solutions,
together with advice on what to calculate and what mistakes to avoid.

Learning by the Case Method (Hammond 1987)

o An introduction to cases in general, and a presentation of a very loose
structure to solve them based on immersion.
12

An Introduction to Cases (Shapiro 1988)

o How to learn from cases, and a set of questions with which to begin
tackling a case.

Learning with Cases (Bonoma 1989)

o An overview of how cases are used as a learning tool, how case
performance is assessed and some guidelines for solving cases.

Analysis of Financial Data in Case Studies: A guide for Management and

Business Studies Students (Pallett 1992)
o An overview of financial analysis in the case solving process, including
guidelines on the selection of appropriate analysis methods and how to
execute the analyses.

A Note on Case Learning (Corey 1999)

o A walkthrough of an example case to explain the steps and analyses used
in typical case solutions.

Working with Cases (Backholm 2000)

o A prescriptive guide for preparing a case presentation and the structure of
a good case solution

Ace Your Case (Kari 2001)

o A large guidebook prepared at the Helsinki University of Technology
(TKK). Detailed approaches to presenting and solving cases as well as
practical tips derived from the authors own case competition experience.

Note to the student: How to discuss and study cases (Bruner 2001)
o Focusing on the individual case solver, presents advice on attitude,
working habits and case solving in general.

A Note on Financial Ratio Analysis (Srikanth 2004)

o A good overview of useful financial ratios, includes formulas and
explanations on what each ratio measures.

In evaluating the literature study, one must note that the same biases inherent in the
personal experience section are also present. Most of the case solving guides are written
with a strong personal bias, and are usually grounded more on the personal opinion of the
author than actual verifiable facts.
Also the validity of some of the advice might be questionable, as it is aimed more
towards a classroom discussion setting than a case solving competition. However, the
basic steps in approaching a case should be similar, except for the additional time and
presentation format constraints included in a case solving competition, and the presence
of a team. The fact that case solving in competitions is usually done with the help of a
team rather than alone is an issue that requires further attention by other ways of study.

13

Quite many case solving manuals give advice that is generally very similar. This is
expected as it is quite reasonable to expect that there is some kind of established way that
has proven successful. However, it might also reflect the fact that many of the guides rely
on previous guides for the advice they give. Hence the same original ideas, even though
they might be flawed, propagate through the literature and gradually become accepted
mainstreams facts. This study should partly be able to alleviate this problem by
combining the findings from literature with findings from actual case solving experience.
A further bias in the literature study is introduced by the fact that ECCH was used as the
main source for literature. The case collection contains a large set of guides, but is in no
way comprehensive. The bias of the updater of the collection is reflected in the selection
of available materials. There might well be a body of literature not included in the
mainstream of case solving, but which would still be able to give valuable suggestions.

2.2. Informal discussions with team and friends

2.2.1.

Overview and research questions

Own experience and literature studies are an insufficient platform for valuable research.
Before undertaking the more formal empirical studies reported in the later sections of this
guide, it was necessary to determine the answer to the following two questions:

What kind of a case solving guide is needed?

What are the areas with most confusion and where direction is most needed?

By answering these questions, one ensures that the research is relevant to the topic under
study. If the problem is approached from a wrong perspective, or if the real problem is
missed, the resulting analyses and recommendations do not offer value to the intended
readership of the report.
It would also be a waste to ignore the insights that friends involved in case solving are
able to provide. Hence the third research question for this part of the research is:

2.2.2.

What general advice on case solving can my team and friends provide?

Discussions

The idea to write a guide on solving cases materialized in January 2006 while our team
was attending the TIMES semi-finals in Cambridge. We had developed some original
ideas and approaches to case solving, and I felt that it would be valuable to collect the
learning done by both our team and others into a guidebook.
After this, I have discussed and debated issues relating to case solving with different
people, with the aim of shaping the concept of the guidebook. Most of this was highly
informal, and regrettably little notes have survived during this process.
Rather than disguising this phase of the study as empirically sound and rationally planned
series of steps, I will try to document it as it has occurred - as a mess of ideas flowing
from different sources.
Below the following sources of ideas and what I consider the most important feedback
and ideas from each are listed.
14

Case course instructor

o Encouragement to write a guidebook, and advice to focus more on the
general principles of solving cases than precise descriptions of different
models or what type of pens to use in each slide area.

ESTIEM active with a role in planning TIMES

o Confirmation that an international need for such a guide exists, also advice
to include beginner-level advice for teams not having a background in
case solving.

Teammates in TIMES team 2006

o Developing the BPARS-framework during the competition and training,
tips and tricks in presentations, the shortcomings of previous case solving
guides, division of jurys between academic and business focus,
encouragement to write this guide.

Other teams in TIMES 2006 competitions

o Need for advice on solution structure and basics of case solving, the
importance of a clear yet flexible approach in solving cases. Tips for
presenting effectively and different models that can be used.

Participants of TIMES 2007 local qualifications

o Idea of solution postponement, verification of the three important areas
where solutions and jury needs mismatch: analysis of alternatives,
financial analysis and type of analyses (textbook vs. custom).

2.2.3.

Emerging themes

A multitude of valuable ideas has emerged from these discussions. The practical ideas
related to actual case solving are explained in later chapters in the appropriate places,
whereas here the following topics related to the research itself are explained.

Three topics of confusion

o Based on the discussions there are three main areas where the participants
of different case solving competitions are unclear as to what practices are
the best. These are the analysis of alternatives, financial analysis and
whether to favor textbook analyses (for example SWOT-analysis) or
custom analyses. Special emphasis is places on these topics, especially in
the jury questionnaire.

Division between business and academic jurys judgment

o This theme is explored by Kari (2001), and is still seen as an important
aspect when planning case solutions. It is widely believed that the
composition of the jury is an important aspect in determining what types
of presentations are valued. Academic jurors are to thought to favor
analysis of alternatives and analyses in general, while jurors with a

15

business background are considered to favor presentations giving tangible

recommendations in the beginning and backing them up with data.

2.2.4.

Evaluation

As unrecorded informal discussions are one of the worst empirical methods in terms of
reliability, a formal analysis of the shortcomings of this phase of the research is not even
included as will be done for later, better documented research methods. The reason for
including this part is more to acknowledge and differentiate the different sources of ideas
that this report builds on. In the following chapters, results that are based on informal
discussions with friends are labeled with a description of the individual, for example as
(Teammate in TIMES team 2006).

2.3. Focus group survey

2.3.1.

Overview and research questions

To broaden and structure the findings based on the experience accrued by personal
experience and informal discussions, a more formal survey was conducted to selected
members of successful past teams. The questions in the survey attempted to tackle the
first three parts of the subject in the empirical framework presented earlier: preparation,
solving process and the presentation.
The data was collected with survey consisting of 24 open questions. It was sent via
electronic mail to 11 participants of past case solving competitions that each competed in
different teams. Nine replies (82%) where received. The questionnaire is included in
Appendix C. The answers were collected, grouped as a tree and analyzed.
The third study method set out to discover and codify the tacit knowledge created by past
teams. The purpose was to gather both current practices and insights into improvements
that could be made. The task can be broken down into the following questions:

How have teams organized their working processes?

How do teams perform the solving process and create the presentations?

What types of presentations do the teams prepare?

How do teams train for case solving competitions?

What advice can the teams give to others based on their experience?

2.3.2.

Data and methods

The data was collected by sending a survey with 24 open questions to 11 potential
respondents, of which 9 replied in the time frame given. The questions were delivered
with electronic mail as in-body text to allow for easy replying for the participants. The
total time allotted for answering was one week, and two reminder messages were sent:
one when half of the time was remaining and the other with only one day remaining.
The sample was selected using the following principles

16

Each person had participated in at least one of the following events. Numbers in
brackets indicate responses received from each area. It should be noted that a
single person can have competed in different settings.
o TIMES (5)
o Business Masters (2)
o BCG Masters (4)
o Advanced Case-Seminar in Strategy (6)
Only one person per team was selected to allow for maximum diversity of scope.
Electronic mail addresses and participant lists were collected from competition
organizers, course participant lists and through common contacts for those whose
addresses were unknown.

The questionnaire was constructed in a roughly chronological or sequential fashion,

where the different aspects in the case solving process were enquired in about the same
order as they are encountered by competing teams. As the different methods employed by
the teams might differ a lot, the questions were kept as open ended as possible so that
they would not limit or direct the answers.
After the questions were received, they were collected together in a tree structure
according to topic. This tree was then used in two different ways. Firstly, the ideas
discovered during the analyses are incorporated in the later chapters of this guide together
with supporting quotes and remarks from the raw data. Secondly, a condensed version of
the tree is reported in the following sections.
Three trees were built based on the empirical research framework outlined in Figure 5,
which divides the topic as the solving process, presentation and preparation. For each tree
the answers provided by the focus group on that topic where analyzed. Similar ideas were
grouped together, and a number next to the comment or idea indicates the number of
respondents mentioning each that particular issue.
In the condensed trees, answers are paraphrased from the raw text comments to maximize
readability and to separate each individual idea mentioned by the respondents as a
separate item. These trees are shown in the following sections.

2.3.3.

Results

These results are presented here uncommented, and are further elaborated in the
following chapters under the corresponding topics. The evaluation of the results in terms
of validity and reliability is done in chapter 2.4.4 together with the results from the jury
questionnaire, as the research methods between these two studies are rather similar.
The resulting condensed analyses are presented in the following pages. Figure 6 shows
the participant opinions on the solving process. Figure 7 (two pages) contains the
opinions on the actual presentations. Lastly, Figure 8 contains advice on training as well
as general tips on case solving.

17

Work division
Leadership
1 Clear dictator with decision power and controlling function. Used to prevent lengthy unproductive discussion and
guarantee completeness of solution
2 Ad hoc leadership, the one with the best understanding of the particular case was selected as a leader
2 Did not employ a leader, but considered it a good idea
3 One person was responsible for keeping time and controlling the process, but with no content authority
2 No leadership or central time control
Task division: roles
1 Based on personal interest, each took the analysis or task that he or she was most interested in
4 Based on know-how in the areas of the case, decided during case solving
1 Three different preset roles: background, analyses, recommendations, but only used in slide preparation, all
discussions done together except background person focusing on slide drawing
1 Would like to divide according to skills, but no significant variance in skill profiles of members
Task division: time
5 Preset schedule for each phase of the work
4 Flexible usage of time
Rehearsing the presentation
3 Presentations usually not rehearsed due to lack of time
2 Presentations tried to be rehearsed
1 Individual "meditation" on own slides, no group rehearsals
Advice on work division
2 Case does not have to be read by everyone completely, team can start earlier
1 Remember to set enough time for slide preparation, as slide finishing really ads value to presentation
Analysis methods during case solving
Deciding the solution
2 Bottom-up: Individual analyses and key issue analysis distributed to individuals, solution and recommendation done
together in the end
5 Top-down: Group discussion and agreement of solution first, individual supporting analyses in the end
1 Mixed: Analyses conducted verbally in the team as the solution was formulated
Structuring the solving process
1 Use a storyboard method, make empty mock slides and arrange them
1 Use a clear framework: BPARS (background, problem definition, analysis, results, summary) to structure thinking
3 Free flowing idea generation
1 Try to settle on the solution as late as possible
1 Three phases: Overall story, analyses and recommendations & financials
Idea creation
3 Structured through analyses and checklists
6 Free thinking and brainstorming
Ensuring completeness of solution
2 Writing all upcoming issues down and checking in the end that all are adressed
2 Using premade checklists or frameworks
3 Not used, 1 thinks that it is important
2 Through concluding discussion "Is everything now covered?"
Slides
Slide preparation
3 Done by a single individual to ensure consistency
5 Done by the maker of the analysis
1 Ready templates used
Slide contents
5 Keep simple, include only key elements. Explain all content during presentation
5 Prefer pictures
1 Use backup slides very sparingly as they are a potential way to waste time
2 Minimise slide count and content per slide, maximise pictures
1 Use implication in all slides
3 Have a fixed formatting for all slides

Figure 6. Focus group comments on the solving process

18

Presentation
Rehearsing presentation
3 Tried to do if time permitted
4 Not considered time well spent
Structure
1 From easy to understand to complicated
3 Flow of presentation is very important. No gaps in logic, jumps or "Why is this slide here"-situations
1 a) Problem statement b) Background and key issues c) Analysis d) Solution and recommendation
4 Key issues, Problem definition, (Options), Analysis, Solution, recommendation and risks.
1 Use TRAIN-framework
1 Prefer decision trees, but develop visual ad hoc models or other custom frameworks if tree not possible. Always have
some connecting framework
1 Use RBV as basic structure
1 Repeat agenda between sections
1 Use hypothesis driven approach where possible
1 Intro - agenda - brief analysis - key issues - problem statement - presentation of the analysis - recommendations risks - conclusion
Models and frameworks
Preferred models
3 SWOT
1 Software provider - Hardware provider - Customer base -cycle
1 Porter Five Forces
1 Decision tree
1 Custom matrix showing the position of alternatives in some space
1 Correlation of variables
1 RBV
1 BCG matrix
1 Skill/ will matrix
1 Cash flow analysis
1 Folding matrices analysis
1 Alternative comparison
Model selection
2 Prefer simple, well-known frameworks so that team and jury are familiar with them
4 Avoid text-book frameworks unless they really suit the situation well
2 Avoid using complicated or sexy frameworks unless they are exceptionally well suited for the problem at hand
1 Models should jusut bring the important issues together, not be overcomplicated
1 Numerical analysis instead of qualitative
1 Use combination where possible
1 Consider jury composition when selecting how complicated models to use
Model reporting
1 Always report all analyses
3 Do not show those analyses that do not fit the presentation
1 Do not state the name of the models used unless it is relevant to the issue
1 Show assumptions and remember to keep them reasonable
Comparison of alternatives
2 Done during preparation, but not reported
3 Rarely done, which reduced performance of our team
2 Try to include as often as possibke
1 Two methods, either show first and analyse, or quickly select one and develop that alternative
2 Use simple +/ - comparison
1 Use rough NPV calculations of different alternatives
2 Depends a lot on case, typically not relevant
Financial analysis
2 Use graphical format
1 Permit to the degree allowed by the case material
1 Show cost and sales
4 Show only profit-level data
1 Use also in analyses, not just in the end recommendation
3 Show results only, not calculations
1 Do a reality check on all numbers
1 Show sensitivity to assumptions
2 When some numbers not available, use assumptions and report them
2 Calculations included in backup slides

19

Recommendations
Charasteristics
2 Must answer the questions and be relevant
2 Link to analyses and problem statement
Presenting recommendations
2 Justify all recommendations and show why better than alternatives
2 Present with confidence, do not give "maybe this, maybe that"-recommendations
2 Show risks together with the presentation
2 Use division between short and long term actions
2 Let the most convincing person present this part
1 Avoid having to make the recommendations in a haste due to ending of allotted time
Risk analysis
Presentation format
1 Show in connection with alternatives to demonstrate why some are not feasible
4 Use 2D matrix impact x likelihood
2 List ways to reduce risks
1 Show ways to reduce both impact and likelihood separately
2 Last slide, as an obligatory slide with little real valua
Observations
3 The more assumptions made, the more risks related to them should be assessed
1 Often detached part that is only included in the end as a "must have" item. Should be more tightly integrated with
the solution
Answering questions
Division between group
3 The person who has presented the area under questions answers
1 If nobody else answers, the leader does
1 In our group one person was too dominant in answering, and this reduced performance
2 Try to balance so that everyone looks smart
Answering strategy
1 Have backup slides ready for difficult areas such as financials
1 In case of tight pressure by the jury, try to relax and focus on basic principles of your solution
1 Do not rush, use time to think
1 Short answers that are to the point
1 You can ask for clarification; this gives you time to think
1 Avoid answering same question by multiple team members

Figure 7. Focus group opinions on presentations

20

General tips
Preparation
3 Practice all aspects
1 Trust and equality among team
1 Use experienced teams for benchmarking and as a source of advice
1 Prepare well before the case, for example by developing checklists
1 Every team member needs to know that the other members can do what they are expected to do
2 Do not waste time on small issues or arguments
1 When forming a good team, try to think in terms of competences rather than friendship ties
Ways of working
1 Open but very focused discussion
1 Use a common structure each time so no time is wasted in developing one
1 Solutions are developed best by leveraging the intuition and understanding of the group members in brainstorming
discussion. The analytical tools are actually only tools for presenting your rationale.
1 The team members must leave their egos outside the room when solving a case.
1 Try to specialize in some roles if possible
Solution
1 The internal consistency or the flow of thought is the most important aspect of the solution.
1 A crucial thing is not to start looking for the perfect solution. The case solving time is very limited, and wasting
more than 10 minutes of it in debating on whether this alternative is marginally better than that is a big mistake.
1 Always include numerical estimates and check that the solution makes financially sense
Presentation
1 Practice makes perfect! Group dynamics is also of great importance.
2 Do not blabber, there is not enough time. The jury will ask for clarification if needed
1 Never have non-critical slides
1 Focus your presentations on the key issues, not general stuff relating to the case situation
1 The happier you look and seem about your own solution, the better you are likely to do.
1 Practicing presenting a few times beforehand helps a lot.
1 All presentations are virtually the same, only the content varies so general training helps.
1 Talk slow, be relaxed
Comments
1 It is surprising how useful case solving skills are also in working life.
1 I genuinely think that the cases, case competitions and practicing for them are probably the most valuable part of a
DIEM degree
1 Solving cases in fun, I definitely recommend taking place in case competitions!
Training
Methods
2 Discussions about group dynamics and working habits
1 Training cases with "real" jurys from faculty and consulting companies
3 Train by solving cases from past competitions
1 Benchmark other teams you have been a part of
1 Allotting task division
1 Going over possible frameworks
1 Designing the working method to be used in cases
1 Try to discover the strengths and weaknesses of each team member
Tips
3 Train in a holistic way, always have time limit + jury
1 Record presentation on video
3 Focus on second-order learning, what went wrong in the process that caused the bad solution or vice versa
1 Remember to keep up good team spirit
1 ACS course staff can provide training cases
1 Focus on presentations skills and try to get as much experience as possible
1 First focus on working methods and team dynamics, then try to cut the slack and aim at 3 to 4 hours solving times

Figure 8. Focus group opinions on preparation

21

2.4. Questionnaire to jury

2.4.1.

Overview and research questions

Simply looking at what current teams are doing does not give a complete picture on case
solving, as teams typically have a limited view on how the presentations are actually
valued by the jury. To better understand the elements of a winning case solution, a
questionnaire was also sent to active jury members. This was done to shed light on the
grading of case solutions and to collect valuable insight from the experts on case
solutions.
A questionnaire with 20 questions was sent via electronic mail to 7 active jury members,
of which 5 responded (71%). The questionnaire is included as Appendix D.
This part of the research attempts to answer the following questions:

What does the jury see as most important when grading teams?

What types of analyses are liked and disliked by the jury?

Specifically, what is the jurys opinion on the three hot topics identified earlier
with discussions with team members and friends?

How does the jury wish to see the recommendations?

What types of structures are seen as most efficient by the jury?

What types of presentation characteristics are favored by the jury?

What specific tips can the jury give on solving cases?

2.4.2.

Data and methods

The data from the jury was collected with the help of questionnaire due to the nature of
the respondents. The persons acting in a jury are typically busy professionals, and
reaching them is most easily done in a manner most convenient to them. An electronic
mail survey allows the participants to answer at a time most suitable for them, and with
the depth they have time for. A questionnaire also enables the easy analysis and grouping
of data not possible with a more freeform interview.
The sample was selected by following the steps outlined below:

A set of seven active jury members was selected based on their involvement with
case competitions. To ensure a broad selection of views, the sample was chosen
so that different occupations and backgrounds would be included. This was done
because of the disparity of these perspectives identified by discussions done in the
second study. In the end, the five respondents represent the following
backgrounds:
o Business perspective:

Consultant at a consulting company (2)

Company representative (1)
22

o Academic perspective:

Course instructor (1)

Course assistant and competition participant (1)
The sample was chosen so that each jury member would have plenteous
experience from acting as a jury member. For this study, the minimum of case
presentations graded by the juror was set at ten.

An electronic mail was sent to each member of the sample, and an answering time of one
week was given to allow sufficient time to answer while preventing the issue fading from
the active task list of the potential respondents. Two reminding emails were sent, one
when half of the time was left and one when one day was remaining.
The answers are reported in their original format, with very minor typographical
corrections, to preserve the richness of the answers. The jury members opinions on a
good case solution are more divergent than those found in the focus group study, and
hence a similar grouping is not possible. They also contain more argumentation and
hence any truncation would possible destroy the underlying logic.

2.4.3.

Results

The answers by the jury members were collected by question and are reported in Figure
9Figure 15. Following the structure of earlier studies in this report, the analysis and
synthesis of these findings is done in later chapters together with the other analyses.
The raw text included here is meant to enable the readers of this report to form an own
appreciation of the scope of opinions expressed by the jury, and to act as a source of raw
material for insights into developing good solutions.
Each comment is preceded with a letter. In the figures, B stands for the comment
originating from a jury member representing the business perspective, and A for jurys
with an academic background.

23

Grading
Most important elements of a solution when grading
B Team not just build around one star but has a consistent quality of team members and a good interaction between its members.
A Feasibility and robustness. The solution might not be perfect, but if it is logical and well argumented, it is a much better solution
than any less robust with better conclusions. In other words, I would stress the importance of being clear about your solution
and the rationale for it.
A Typically - at the end of the day - the final decision is made between the two best teams. Often one team has a more insightful
solution that takes into account all the major issues that one should consider in the case and is able to develop an innovative, but
realistic solution. In contrast, the other team may have a much better presentation, the flow of logic of the analysis, and a more
extensive use of methods, but is not getting the solution to be quite as good as the other team. Sometimes, the first wins,
sometimes the second depending on how well they cover the other missing aspect, but it is really impossible to say which style
would win more often. What is possible to say, however, is that in those cases when the first kind of team has won, they have
almost always also done well also in the European TIMES case competition. The second team type has often not done so well.
B Coherence of storyline and logic behind solution and feasibility of recommendations combined with the ability to convince the
audience through the presentation skills (incl. verbal, non-verbal presentation capabilities and quality of slideware)
B Key idea behind the recommendation (key issues, analysis, recommendation) and the structure of the presentation
How winning teams typically outperform others
B The presentation is typically more consistent across team members, and there typically is at least one distinctively good presenter
in a winning team.
A Winning team is usually one with most clearest presentation and best logical flow of the solution. I would stress here the
importance of making the jury understand what you are talking and how it relates to the overall solution.
A They typically have better grasped the overall situation, its key issues, and are able to go deeper in developing their
recommendations + the numerical support for it. Often this is supported with a well-honed presentation and a well-structured
overall package.
B Good structure of the presentation and analysis is key as it facilitates the rest (easy to present, follow, answer questions)
B Winning teams seem to outperform in all areas but usually they have the best numerical information backing up their solution.

Figure 9. Jury views on grading

Analyses
Good frameworks and analyses
B Overall, the frameworks used shouldn't be too complex in a case competition meaning that they should be rather selfexplanatory when put on a slide. Therefore, it's not a bad idea to use recognizable basic frameworks like SWOT, Porter,
GE/ McKinsey matrix - depending of course on the type of problem at hand. Keep it relatively simple. The best thing is if a
team comes up with a creative analysis of their own that is relevant and specific to the problem at hand and is easy to explain (so
called killer analysis).
A I personally like decision trees or matrices because they structure both analysis and presentation. One framework which is used
too seldomly is heatmap, which is a good way to capture a lot of information in a simple presentation.
A An understanding of the numbers provides the best basis for judging where the biggest money lies and then concentrating with
different tools to analyze issues surrounding that could produce the best results.
B 4P good to consider while crafting solution,and VRIO is also a good one, "what is really what makes the company stand from
the pack". SWOT also simple and good
B Situation, Complication, Resolution model is a general model used to structure the presentation. Free cash flow analysis for
valuation purposes. Porter's 5 force model to reiterate the 5 key areas to explore during case solving. In many cases the
problems are so unique in nature that it is not feasible to forcefully utilize any specific model . Overall I would suggest that
persons use their imagination to come up with innovative yet logical solutions.
Often overused or misapplied
B The basic analysis frameworks are tricky if you try to use them in every problem and do not take into account their
shortcomings.
A Most frameworks presented in PRISMA or the Tuta-POJ course (Basic strategy courses). Some teams think that they should
include a lot of these frameworks even if they do not fit the problem or solution.
A SWOT analyses and forced Porter industry analyses in situations where they really do not fit. When teams get more experienced
they tend to use less frameworks (except for structuring presentations), and use a broader collection of tools.
B I would rather be careful on the way the frameworks are used. In my opinion they should be only used to convey messages and
not as something that must be done for the sake of it
B SWOT model is often misused and it does not add any value to the storyline

Figure 10. Jury views on analyses

24

Special issues in analyses

Financial analysis
B I agree that calculation of basic financials is required in most cases. In order for the recommendations to be relevant, I need to
understand the implications - and as a member of the jury in a case competition, I need to see that the team has considered and
understood the implications of their recommendation. I would expect to see some kind of forecasted future cash flows or at
least P&L, and this should be weighted against the possible investments required so that the ROI is also feasible.
A This can be sometimes a bias on the jury side. Some calculations are "mandatory". The team should always show the costs or
revenues of their solution and be prepared to answer where the money to cover the cost will come from. The problem with
financial analysis is that in many cases there is insufficient data to solve the case purely by numbers. Also, when you are unable to
use spreadsheet, the time that the calculations take is sometimes better used in other analyses. A good use of numbers would be
for example the following: -when identifying key issues, show a few financial ratios describing the firm (make sure that these
support your story) -show some analysis of the numbers when presenting conclusions -at the end of the solution, show a graph
of financial impact. (when money is going to be gained and when spent) ECCH has a few good teaching notes explaining
financial analysis (included as attachement) [included in literaturestudy].
A Yes, it is too often neglected. One should at the minimum have an understanding of where the biggest money in the industry is,
how much do the actions that are proposed cost, and what are their value creation implications in terms of sales and profitability
when compared to the investments required. If there are no figures given, realistic rules of thumb may do well.
B Change in KPI's or financials, meaning what benefits does the solution bring and how does it help to achieve ojectives. In certain
jurys it is essential to do the figures
B Financial aspects form the crucial backbone of a coherent solution. Financial implications explain the "so what" of the proposed
solution.
Analysis of alternatives
B I really want the team to stand behind their recommendation and not water it down with too many ifs and buts. That being
said, a smart team would present their underlying assumptions clearly and - again depending on the case - could bring up
alternative solutions for different scenarios. So to me this a case-specific thing, the most important is to see the assumptions sometimes they are not so sensitive that they would require the different alternatives to be analyzed.
A Should be a part of the presentation. At least in text books, developing alternatives is virtually always presented as a part of
strategy process. Also, developing alternatives is most likely going to lead to a better solution. Showing the alternatives and some
reasons for rejecting them to the jury increases the robustness of the solution, since it is perhaps one of the best ways to present
why the team chose their proposal.
A Should be included. There should be an analysis of alternative strategies and their implications before one concludes with the
recommended strategy.
B In my opinion alternatives may not be needed if the selected track is good one. However, in some cases the "other alternatives"
need to be proved to be less good than the selected one.
B Analysis of feasible next best alternatives illustrates that the team has truly explored other possible solutions and have thus come
up with the best solution that exists in the solution space. Alternatives can be analysed in terms of their financial impact to the
firm, the competitive or customer reactions to making the specific actions and in addition, it could be reviewed as to how the
proposal fits with the strategy of the firm.
Textbook vs. custom analyses
B The best thing really is if a team cracks the case with an approach that is really specific to the problem at hand. This can feel and often is - somewhat of a risk-taking, but in a competition where most rely to safer textbook solutions, this approach can
make the team stand out.
A Generally no difference. I do not care much how the analysis was done or presented, as long as I can uderstand it. The
advantage of the text book models is that they give a common frame of reference and hence can enable the jury to better
understand the solution. Also, having a tested framework to use speeds up the analysis. The problem with analysis frameworks
are that some teams think of them more as a solution than a tool. This leads to presenting frameworks which are not essential
for the solution. I would discourage any slides where the presenter could start "And in this slide we see framework X..."
A I would prefer to have the analyses invented by the team to fit the particular case, but it would be good that these inventions
have their background in textbook analyses.
B Best analysis that is one that fits the case, understanding of the textbook analyses is important, but does not need to be on the
presentation
B Innovation and applicability of framework to the problem at hand is key.

Figure 11. Jury views on special issues in analysis

25

Solutions and recommendations

Good recommendations
B A recommendation is good when you can trace it back to assumptions and analyses made, and can then justify that all of them
make sense. Also, the recommendation should be a synthesis with some creativity and not just a summary of the analyses done.
A It is most essential that the jury understands the solution. If there is ambiquity in the presentation or it arises to many questions,
then the solution is probably not a good one. Most teams do not understand that the quality per se does not matter, but the
quality as perceived by the jury is essential. Especially when teams get more experienced, they are able to do much more analysis
in 4 hours that they can present in 20 minutes. Because of this, the solution which is most defendable in 20 minutes presentation
is usually the best one. Also, I give a lot of weight for not having mistakes in the solution. For example if the solution is brilliant,
but based on a false assumption, it is not a really good solution at all.
A Ability to take all issues into account that all the other teams and the jury can come up with and then develop a solution that best
optimizes the companys response under all these diverse issues and circumstances identified.
B Implementable, relevant, well argumented, strategically sound
B Practical, actionable, logically derived, backed by facts and numbers, takes into consideration the external environment
(competitive actions, customer reactions, legislation, etc.)
Good ways to present recommendations
B I would first link the recommendations back to the problem that the team was trying to solve, and then take it to a concrete
level with an action plan. Timeline is good, because it makes the recommendation more concrete.
A A combination of different methods. First present the how the solution addresses the key issues and then show actions tied to
timeline. Alternatively, these can be in other order if there is a summary slide in the end.
A Timeline is useful to have, because it makes recommendations concrete also in terms of timing. Often, however, also timelines
are used in a somewhat too abstract manner.
B As long as the points make sense and hep getting towards the objectives it does not really matter how they are presented
B Linking the proposed recommendations to the initially identified key issues so there is a logical bridge between them. In
addition, the proposed actions should be presented in a timeline illustrating the order of steps and the interlinkages between the
actions (i.e., one action can only be commenced when another activity has finished). This conveys the fact that the plans are well
thought out.
Good ways to present risks
B At least two good ways: do a sensitivity analysis around your assumptions and/ or have a page after the recommendation that
pictures the risks in terms of probability and size (matrix works really well here)
A This is something that should be done, but do not spend too much time here. I appreaciate if the team can present impacts and
counteractions for each risk that they have identified. Table is probably the best form to present these, but also other alternatives
exist.
A The uncertainty matrix is sometimes slightly mechanistic. Uncertainties should be somehow understood in terms of the financial
implications and their potential range.
B Key risks of the solution should be identified and a mean to mitigate them defined
B Risks can be expressed in matrix format whereby one axis shows the magnitude of impact and the other axis the probability of
occurrence. Numbered bubbles are placed into the matrix and these numbers are explained on the right-hand side by depicting
the risk and the contingency measures. Best practice is to have appr. 4 risks identified and placed in different quadrants.

Figure 12. Jury views on solutions and recommendations

26

Structure
Opinion on different structures: a) Intro - Analysis - Recommendation b) Intro - Alternatives - Analysis - Recommendation c) Intro Analysis - Alternatives - Recommendation d) Intro - Recommendation - Analysis/ Backing up.
B
(a) This is a safe bet. Can be used in all cases, especially if you are unsure about your audience. (b) I would imagine could work
if the case clearly outlines more than two alternative paths. (c) I would use instead of (a) if the case - after analyzing - warrants
this (d) Typical consultant approach to start with recommendation, and then back it up. Doesn't work if the recommendation is
very controversial, as then you typically would have to build the case first. Also some audiences may not be used to this kind of
straight-to-the-point presentation style, so it is a bit risky. However, can be very powerful if the recommendation is solid.
A The last one is in most cases the best. The reason for this is that if the jury knows in advance where the analysis is leading to, it is
much easier to understand the team. Also, when you know the solution, it is easier to stay focused. I would replace the intro
with intro/ alternatives.
A Alternatives two and three are the best from my perspectives depending on the case and the problem solving style of the team.
B - Hard to choose from these - generally I prefer to give background and identify key issues/ options and then tell on summary
what is recommended and why. Then I would go through the relevant analysis that lead to the solution (including alternatives if
needed), followed by recos and action plan
B - In many cases the posed case questions dictate the structure of the solution - Alternative: * Intro - Alternatives - Analysis
Recommendation * has worked in many previous case solutions due to fact that it basically leaves "no stones unturned"
Advice on structure
B I have not really seen any teams to overdo the structure, so rather err on the "too much" side of structure than "too little". The
more explicit the structure, the easier for the jury to understand the presentation. Also, explain upfront which structure you are
going to use.
A You should study TRAIN-framework. It does a really good job in presenting how you get your point through. It is important
to always make sure that the Jury knows what you are doing and how it relates to your higher level solution.
A Alternatives should be followed by additional analyses of them, but sufficient key issue analyses should also be carried out in
order to end up with the alternatives.
B Think about the structure. Most of the cases can be made to fit a standard structure, it makes solving cases very efficient and
presentations powerfull
B Do not rigidly stick to one structure but innovatively approach the problem at hand
Ensuring the flow of presentation
B Be explicit on your structure and storyline. Also, make sure the slides shown are linked with a good logic. This shouldn't be a
detective novel where you keep the jury guessing for what is coming next. Include support on the slides for the structure (e.g.,
trackers, numbering chapters).
A Reserve roughly 20% of your presentation time (and slides) for summarizing, describing the structure of your solution, making
transitions of spekers, etc. Some good rules of thumb: -One slide tells one main point. If you have two main points, make two
slides. Also make sure that the jury understands what your mainpoint is. If a slide does not have a clear main point, you should
reconsider including the slide. -It is a good ideaa to structure the presentation as a tree. For example if you have internal and
external analysis, these form two branches. When you travel to a branch, first introduce the structure of this branch and describe
how it relates to your overall solution. Again, when leaving a branch, tell briefly what the content of the branch was and how it
related to your solution. -Each slide should contribute to your solution. There is no point in showing something just to show
that you did some kind of analysis (does not apply to the mandatory financials, risks and timeline slides at the end)
A I do not see the flow typically problematic. The case should start with understanding the situations and the key issues related to
it. Based on that one should understand the alternatives that the organization if facing. These alternatives should be analyzed and
then eventually based on the analyses recommendations given.
B Tell recommendation at the beginning (before going to analysis). This gives a good mindset to follow the rest of presentation
and enables jury to follow analysis better from your recommendation point of view
B Use tracker on slide - Explain clearly at beginning structure of presentation - before each section Explain what is to be told next at end of each section summarize key findings - Allow audience to read each slide before speaking

Figure 13. Jury views on structure

27

Presentations
Slide design
B Illustrations work wonders. Too much text only gets the jury to read the slides and distracts from listening to what the presenter
has to say. Titles should be action-oriented or at least contain some insights. Finally, I appreciate if teams use some kind of
master template, be that only a simple borderline or whatever, but it makes the presentation look much more "professional"
A The less text you have, generally the better. One main message for each slide. There should be somekind of logical transition
between slides. Practice making nice looking slides. If you use powerpoint, make slide templates before hand.
A No specific comments here. Good looking slides do improve the impression that the team gives, but the content is in these case
contests much more important.
B Tell a story with titles: reading the titles only should be your executive summary! Focus on relevant stuff on the slides, put
something on the slides only if you want to communicate something with it (i.e. your solution)
B - Use limited number of words - Use frameworks, graphs, tables, colours, arrows, force diagrams, flow diagrams, pie charts
and other visual enhancements to improve visual appeal
Improving presentation skills
B Have somebody make a videotape of your team's presentation and analyze that.
A Practice timign. There are two kinds of people, thos who speak too fast to be understood and those who spend overtime. If
you are not able to present some sliedes that you intended because you run overtime is an easy way to ruin your solution. Some
people tend to get nervous when they have to present in English, but I cannot give any solution for this.
A The skills of the presenters vary quite a lot. In teams, one should consider positioning each team member to that kind of
position where they fit best. Presentation skills can and should also be developed constantly. Presenting basic stuff very slowly
can sometimes be slightly disturbing.
B Argument clearly, repeat key messages - Retain eye contact to audience and speak clearly
B Be confident, speak slowly and clearly and have eye contact to audience
Answering questions by the jury
B Agree that questions are answered by the person that presented around the topic of the question. Agree in the team that there is
somebody who picks up the ball in case of odd questions. On one or two questions, have another member of the team to build
on what was first answered (not for all questions!). Avoid saying things like "that is a good question". Have all of the team give
subtle physical support (e.g., nodding) to the one that is giving the response.
A Before the presentation (or before the case competition), have a meeting and discuss how you are going to show other people
in your team that you want to answer the question. Also, make sure that you understand what your strenghts and weaknesses
within the team are, so that you can divide the questions better. Remember that there is no rush in answering. Some common
mistakes include: -Not answering the question or telling too much things that are irrelevant to the question and answer. Some
people seem to love their voice so much that they just need to spend several minutes on an answer that could be given in 10
seconds. Rememer that the jury can ask further questions. Also, at the end of the answer you can encourage the jury to ask
moree questions of the topic if they feel interested. -Having too many people answering a question. This causes the jury to think
that not everyone in the team backs the answer. Every new person to answer should give at least 50% better answer to the
question.
A Answer to the question and keep it relatively short.
B Make sure each group member answers questions
B Allow different persons to answer questions - Keep answer short and crisp - Only in limited number cases is another person
allowed to further continue answering question (when person has clearly missed the essence of posed question). In such cases use
transition wording such as "further building on this...", "furthermore...", "in addition..."

Figure 14. Jury views on presentations

28

General advice
Most common mistakes
B Not understanding the financial implications of their recommendations, not sanity-checking the numbers (e.g., a cinema that
requires 10,000 spectators per day), having somebody take a too controlling role in the presentation
A Structure of the presentation is the biggest problem. The second biggest is identifying the key issues. The third is not considering
important points that should be always considered (e.g. where does to money come from)
A Development of the quantitative understanding of the overall situation and, thus, the strategically most important key issues.
Developing a numerical understanding of the solution and what would it mean in practice.
B Solution relevancy often poor, be carefull when identifying the key issues and after that focus on solving them
B Lack of self-confidence and lack of clarity of speech
General tips and tricks
A Case solving is something that you can practice. You should also study presentations by other people to learn new ways of
presenting and analysing. As a last tip, make sure that your solution answers all the questions explicitly presented in the case.
B Have a large digital clock in-front of team whilst presenting presentation so as to not run out of time
A Practice, practice, practice
B Have someone lead the case solving process - person is responsible for making decisions - Assign specific roles and
responsibilities prior to case solving and also during case solving

Figure 15. General advice by the jury members

2.4.4.

Evaluation of the results

The research methods employed in both the focus group and jury surveys were fairly
similar, and hence the evaluation of both stages of the study was done together. The most
potential sources of bias to the results are highlighted below.

Sample
o Sample selection

The selected sample involves jurors and competition participants

that are somehow connected to the case activities of the Helsinki
University of Technology. It might well be that the opinions
expressed by this group come from a fairly homogenous cluster of
people, and the same truths are repeated over and over again by
different people. Having a more diverse set of respondents would
have alleviated this problem. However, in the context of case
competitions held at TKK, these opinions are very relevant. The
success enjoyed by TKK teams in various international case
competitions also suggests that the ideas are not completely
irrelevant in other settings.

o Sample size

Nine case competition participants and five jury members is too

small a sample for quantitative analysis and the construction of
statistics. Hence the results should be viewed more as examples of
the diversity of opinions and rough indicators of potential
consensus in some areas than indicators of how opinions are
divided in the population. This problem is partly alleviated by later
studies on competition participants and audience, but a larger scale
quantitative jury member study is not within the scope of this
report.

29

Questionnaire study limitations and biases

o Question inclusion

The selection of questions naturally limits the scope of answers

received. The selection of questions was done based on the results
of the previous phases of the research, but it is still highly
subjective. It is possible that important findings could have been
received with different questions. This problem was attempted to
be alleviated by including different General sections in the
questionnaires, but it is still likely that interesting data was left
uncollected.

o Question formulation

The way in which a question is asked has an effect on the way

people answer it. While attempts were made to keep the questions
as unbiased as possible, it is still likely that they reflect the biases
of the researcher.

o Scope of answers

It is likely that the respondents have not answered exhaustively to

each of the questions as they are likely to limit the amount of time
and energy invested to the study. A larger sample would alleviate
this problem to some degree, currently the reader of this report has
to accept that some information related to the questions is lacking.

o Lack of possibility to clarify

Because a questionnaire is static by nature, it is not possible to

deepen the answers as could be done in an interview session. This
creates the possibility for both leaving out important data as well
as some answers being unclear or misunderstood. This can create
problems for example in the grouping of answers in the focus
group survey.

Analysis of results
o Paraphrasing answers

In the competitor survey, the answers exhibited reasonable

similarity so that they could be grouped together and paraphrased.
This process is prone to classification errors, so it is possible that
some views are lost in the process.

o Surface vs. underlying view

The questions attempt to arrive at the underlying reasoning and

opinions of the competitors and the jury members. However, it is
likely that only the surface level is met. In practice this means for
example that even though the jury member thinks that he values A
over B, in reality his grading might show the opposite to be true.
Or a team stating that rigorous analysis is the key might rely more
30

on intuition in a competition setting. The statements of what the

jury and competitors feel important should hence be taken with a
grain of salt, as in true situations they might behave differently.
o Dependent on context and observations

The results obtained depend on the experience accumulated by the

respondents, together with all the biases of observing the
experience that the respondent has. Individual events and irrational
beliefs might hence influence the results to a large degree.
Comparing the opinions of different people might help in
alleviating this bias.

In the following chapters, the recommendations that are based on the focus group survey
are labeled as (focus group) and those based on the opinions obtained from the jury as
(jury survey).

2.5. Performance analysis

2.5.1.

Overview and research questions

The fifth study method was to study actual presentations delivered by case solving teams.
The sample for this part of the study was presentations that were conducted during the
TKK course Advanced Case-Seminar in Strategy in 2005 and 2006. As the original
presentations are not recorded in any direct way, the presentation slides and points
received by the jury were used.
The data collected was summarized and analyzed using different statistical tools:
calculating the properties of an average presentation, comparing the best and worst
presentations, calculating pairwise correlations between the variables and analyzing the
relationships between the different graded items.
The purpose of this study was to discover the answers to the following questions:

What are the conventions in case solution presentations?

What are the differences between good and bad case solution presentations?

What are the value drivers of a presentation?

2.5.2.

Data collection

The source for data was all available presentations from the 2005 and 2006 sessions of
Advanced Case-Seminar in Strategy, altogether 42 sets of slides. While the set was
complete for the 2005 session, not all presentations from the latter year were accessible.
This sample was selected for a variety of reasons.
Firstly, it was easily available and reliably organized, unlike data from case competitions.
After many case competitions the slides are dispersed among the participants or
completely lost. The ordering of slide sets in competitions is not readily deducted,
because often the hand made slides are disorganized after the presentation. Also the

31

grading is usually done in a more ad hoc than systematic way due to the time pressure on
the jury.
Secondly, the setting for the case course is relatively stable for a large number of case
presentations. The basic format, the instructions given to the jury and the presenting
teams remain constant between the sessions. There are some differences between years,
but not too dramatic ones.
Thirdly, a case course provides a fairly authentic simulation of a case competition in
many ways. In both instances, the groups are in a competitive setting with the aim of
performing as well as possible. The cases used are drawn from the same pool of cases
and are similar. The output is an oral presentation aided with slides. Of course some
individual details, for example the type of slides (PowerPoint versus overhead
transparencies), are somewhat different between the two types of case events.
A better alternative would have been recorded presentations, or detailed transcripts of
verbal presentations. Unfortunately these do not exist as the presentations in general are
not recorded. A larger set of data would also have been desirable, but was not available as
the grading information and slides from previous years were not available.
Data was collected following these steps:

First five presentations were studied in detail to determine a broad set of

variables. The variables included had to be simple enough so that their recording
process would be reliable, and at the same time contain meaningful information
about the presentation.

These variables were calculated for the ten first presentations. Variables that had
no variance or that were too hard to unambiguously collect were dropped, and
new variables which were possible to collect were added. The collected variables
were verified with the help of a second classifier. In the case on differing results,
the data collection guidelines were made clearer. Remaining data was collected.

Simple transformations were done on the original raw data set to make the
variables more meaningful. For example, counts of items were transformed to
fractions of all slides and some variables were combined.

The presentation data was linked with performance data collected from the jury
grading forms used during the courses. To ensure that researcher bias was not
introduced in the results, points given by course assistants were not included as I
was assisting on the course in 2005.

To overcome possible yearly variations in performance due to different course

format, different cases and different competing teams, the results from 2006 were
normalized by scaling each point category with the ratio of the averages. The
scaling was between 0 to 5 % depending on the category.

In the end each row of data contained measurable observations from a single set of slides
together with the resulting points in different categories. The raw data set had 92
observations from 42 presentations resulting in altogether 3864 data points. Table 1
contains the 47 final variables based on the raw data that are used in the study together
with clarifying notes.
32

Table 1. Sample descriptive statistics

Variable

Mean

Std. Dev.

Min

Max

N otes

Points: Overall point average

Points: Structure
Points: Identification of key issues
Points: Robustness of analyses
Points: Quality of end recommendation
Points: Presentation skills and clarity
Points: Response to questions

3.72
3.82
3.82
3.50
3.46
3.88
3.80

0.53
0.56
0.75
0.75
0.80
0.78
0.50

2.41
2.94
1.58
2.00
1.98
2.00
2.51

4.67
5.00
5.00
5.00
5.00
5.00
5.02

Points are calculated from

those given by the course
lecturer and visiting staff,
course assistants are not
included.

Number of content slides

Number of background slides
Number of analysis slides
Number of problem statement slides
Number of recommendation slides
Number of financial impact slides
Number of risk assessment slides
Number of backup slides

16.52
1.79
8.62
1.05
3.45
0.74
0.88
0.79

3.02
1.91
2.58
0.49
1.84
0.77
0.71
1.85

6.00
0.00
4.00
0.00
1.00
0.00
0.00
0.00

21.00
6.00
14.00
3.00
9.00
3.00
3.00
10.00

Each slide is counted into

one of these categories or
as a structuring slide which
is not shown.

Analysis slides per one recommendation slide

Fraction of slides containing implications
Fraction of slides containing data
Fraction of slides making recommendations
Fraction of slides having a claim title
Fraction of slides having a question title
Fraction of slides having a basic title

3.63
0.26
0.26
0.32
0.13
0.04
0.88

3.06
0.19
0.14
0.17
0.18
0.07
0.23

0.63
0.00
0.00
0.11
0.00
0.00
0.20

14.00
0.65
0.50
0.94
0.70
0.20
1.40

Total count of analysis models used

Fraction of standard models
Fraction of own models
Fraction of alternative comparison models
Number of standard models
Number of own models
Number of alternative comparison models
Competitor analysis included
Internal analysis included

7.21
0.43
0.46
0.11
3.10
3.36
0.76
0.57
0.76

2.17
0.23
0.24
0.18
1.81
1.96
1.28
0.50
0.43

3.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

11.00
0.86
1.00
0.86
8.00
8.00
6.00
1.00
1.00

A model is defined as any

structuring of data.
Standard models are typical
strategy models found from
textbooks, own models are
unique and comparison
models compare options.
Inclusion of analyis based
on whole presentation.

Visual financials
Numerical financials
Visual and numerical financials
Qualititative financials
Financials contain profit estimations
Financials contain sales estimations
Financials contain cost estimations

0.21
0.17
0.17
0.02
0.48
0.36
0.24

0.42
0.38
0.38
0.15
0.51
0.48
0.43

0.00
0.00
0.00
0.00
0.00
0.00
0.00

1.00
1.00
1.00
1.00
1.00
1.00
1.00

Visual is defined as graphing

the results as a function of
time. Numerical financials
include figures and
calculations.

Recommendations have short and long term division

Recommendations are divided into programs
Recommendations include a timeline of actions

0.38
0.45
0.52

0.49
0.50
0.51

0.00
0.00
0.00

1.00
1.00
1.00

Flow of analysis: standard model

Flow of analysis: unconnected analyses
Flow of analysis: own model

0.14
0.79
0.07

0.35
0.42
0.26

0.00
0.00
0.00

1.00
1.00
1.00

Risks are shown in impact x probability matrix

Risks are listed
Risks have also counter-actions specified

0.55
0.19
0.55

0.50
0.40
0.50

0.00
0.00
0.00

1.00
1.00
1.00

Fractions calculated from

content slides only.

Flow of analysis refers to the

connection between
individual analyses.

Sample size 42 presentations

33

2.5.3.

Typical presentations

The results are first analyzed in terms of descriptive statistics to present a typical case
solution. The purpose of this analysis is to give teams completely unfamiliar with case
solution structures an overview of what case solutions are made of, as well as act as a
basis for further analyses that attempt to discover the relationship between each
characteristic and performance.
The analysis consists of two parts, individual slide analysis and presentation level
characteristics. Figure 16 shows statistics of average slides.

Slide title is
Claim 31 %

Description 38 %

Question 31 %

Content slides in presentations

Contain implications
Contain recommendations

26 %

32 %

Contain numerical data

from the case

26 %
0%

10 %

20 %

30 %

40 %

Figure 16. Typical slide properties

From these numbers one can note that there isnt a standard way for using slide titles.
Instead, three primary different styles are used:

Claim titles make a claim or assertion that the slide attempts to prove true.
o Sales have increased rapidly

Descriptive titles provide an overview of what the slide contents are about.
o Sales between 1990 and 2006

Question titles pose a question that the content of the slides answers.
o How have the sales developed?

Implications refer to the explicit stating of what the contents of the slide suggest, they
answer the so what? question. Recommendations are statements about what should be
done by the company, and can either be together with the analyses or separately.
Numerical data from case, usually in the form of exhibits is also found from about 25%
of the slides.
Presentation level properties are summarized in Figure 17.

34

Figure 17. Typical presentation properties

35

Average slide show: 22.4 slides

0.8

0.9

0.7

3.5

8.6

1.0

1.8

5.1

Average slide
count
per type

Backup slides

Risk analysis

Financial impact

Recommendations

Analysis

Problem statement

Background

Structuring slides

Slide type

29 %

71 %

57 %

100 %

100 %

90 %

60 %

100 %

Percentage of
shows where
slide type
used

Counter-actions included

Risk analysis presented as

Profit included
Costs included
Sales included

Type of financial forecast

Short and long term division explicit

Contains a timeline
Contains actions
Divided into different programs

Flow of analysis

38 %

Impact/ severity matrix 77 %

visual only 38 %

unconnected 79 %

Types of models used

Competition analysis
External environment analysis
Company internal analysis

7.2
own models 46 %

14 %

general 19 %

specific 69 %

repeated 51 %
on each slide 10 %
simple list 71 %

0%

Average of different models used

Problem divided into subquestions

Contains illustrations

Type of problem statement

Type of agenda

Agenda usage

Statistics

60 %

90 %

own framework 7 %

80 %
List of risks 23 %

visual & numerical 29 %

qualitative only 4 %

77 %

72 %

numerical only 29 %

45 %

textbook framework 14 %

52 %

none 12%

standard models 43 %
alternative comparison 11 %
57 %
100 %
76 %

81 %

hierarchy 24 %
illustration 5 %

shown once 37 %
no agenda 2 %

100 %

2.5.4.

Subsample analysis

The average properties of presentations are not useful when attempting to determine the
properties of a winning presentation. Hence the next step of analysis was to seek the
differences between the best and worst presentations.
First the sample was divided into three groups based on the average total score received
by the presentation as shown by Figure 18. As the average for the 13th and 14th best
happened to be exactly the same, the sample size for the best was reduced to 13. The
same occurred with the worst presentations, and thus the final groups both contained 13
presentations.
5

4.5
4

Average of points

8.333333
3.5

3
2.5
2

Worst 1/3 of presentations

Best 1/3 of presentations

1.5
1

Figure 18. Best and worst performers

In terms of grading, the worst presentations had an average exactly or below 3.5 and the
best had an average above 4. To determine how they differed in other aspects, the
statistical properties of the variables were examined for both subgroups. To compare the
groups, a standard t-test was used with a 95% confidence interval. This analysis is
reported in Table 2.

36

Table 2. Comparison of the best and worst presentations.

Best 1/ 3 of presentations
Variable

Worst 1/ 3 of presentations

Mean

Std. Dev.

Min

Max

Mean

Std. Dev.

Min

Max

Points: Overall point average

Points: Structure
Points: Identification of key issues
Points: Robustness of analyses
Points: Quality of end recommendation
Points: Presentation skills and clarity
Points: Response to questions

4.29
4.31
4.40
4.11
4.28
4.46
4.14

0.22
0.52
0.40
0.62
0.55
0.58
0.34

4.00
3.43
3.68
3.00
3.29
3.00
3.75

4.67
5.00
5.00
5.00
5.00
5.00
5.02

3.09
3.47
3.05
2.75
2.73
3.25
3.30

0.34
0.54
0.61
0.43
0.47
0.70
0.46

2.41
2.94
1.58
2.00
1.98
2.00
2.51

3.50
4.50
4.20
3.50
3.50
4.75
4.00

Number of content slides

Number of background slides
Number of analysis slides
Number of problem statement slides
Number of recommendation slides
Number of financial impact slides
Number of risk assessment slides
Number of backup slides

16.54
1.23
9.54
1.08
3.00
0.92
0.77
0.69

2.03
1.36
2.67
0.64
1.00
1.04
0.73
1.03

13.00
0.00
6.00
0.00
1.00
0.00
0.00
0.00

19.00
4.00
14.00
3.00
5.00
3.00
2.00
3.00

16.69
2.15
7.77
0.92
4.08
0.69
1.08
0.77

3.88
2.23
2.52
0.49
2.78
0.63
0.76
2.77

6.00
0.00
4.00
0.00
1.00
0.00
0.00
0.00

21.00
6.00
12.00
2.00
9.00
2.00
3.00
10.00

Analysis slides per one recommendation slide

Fraction of slides containing implications
Fraction of slides containing data
Fraction of slides making recommendations
Fraction of slides having a claim title
Fraction of slides having a question title
Fraction of slides having a basic title

3.52
0.35
0.29
0.27
0.11
0.02
0.92

1.46
0.17
0.16
0.13
0.13
0.06
0.15

1.40
0.06
0.00
0.11
0.00
0.00
0.60

7.00
0.65
0.50
0.50
0.30
0.20
1.10

3.71
0.19
0.20
0.36
0.11
0.05
0.89

3.78
0.16
0.12
0.15
0.17
0.07
0.21

0.63
0.00
0.05
0.17
0.00
0.00
0.40

12.00
0.45
0.50
0.65
0.50
0.20
1.20

Total count of analysis models used

Fraction of standard models
Fraction of own models
Fraction of alternative comparison models
Number of standard models
Number of own models
Number of alternative comparison models
Competitor analysis included
Internal analysis included

7.31
0.37
0.46
0.16
2.62
3.54
1.15
0.69
0.85

1.93
0.26
0.31
0.26
1.71
2.50
1.95
0.48
0.38

4.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

11.00
0.86
1.00
0.86
6.00
7.00
6.00
1.00
1.00

7.23
0.48
0.41
0.12
3.31
3.00
0.92
0.38
0.77

2.74
0.12
0.14
0.13
1.11
1.63
1.04
0.51
0.44

3.00
0.30
0.14
0.00
1.00
1.00
0.00
0.00
0.00

10.00
0.67
0.67
0.43
5.00
6.00
3.00
1.00
1.00

Visual financials
Numerical financials
Visual and numerical financials
Qualititative financials
Financials contain profit estimations
Financials contain sales estimations
Financials contain cost estimations

0.31
0.31
0.00
0.00
0.62
0.23
0.08

0.48
0.48
0.00
0.00
0.51
0.44
0.28

0.00
0.00
0.00
0.00
0.00
0.00
0.00

1.00
1.00
0.00
0.00
1.00
1.00
1.00

0.15
0.15
0.15
0.08
0.38
0.46
0.31

0.38
0.38
0.38
0.28
0.51
0.52
0.48

0.00
0.00
0.00
0.00
0.00
0.00
0.00

1.00
1.00
1.00
1.00
1.00
1.00
1.00

Recommendations have short and long term division

Recommendations are divided into programs
Recommendations include a timeline of actions

0.46
0.38
0.54

0.52
0.51
0.52

0.00
0.00
0.00

1.00
1.00
1.00

0.38
0.31
0.54

0.51
0.48
0.52

0.00
0.00
0.00

1.00
1.00
1.00

Flow of analysis: standard model

Flow of analysis: unconnected analyses
Flow of analysis: own model

0.15
0.69
0.15

0.38
0.48
0.38

0.00
0.00
0.00

1.00
1.00
1.00

0.15
0.77
0.08

0.38
0.44
0.28

0.00
0.00
0.00

1.00
1.00
1.00

Risks are shown in impact x probability matrix

0.38
Risks are listed
0.23
Risks have also counter-actions specified
0.46
Figures in boldface indicate higher mean with 95% probability

0.51
0.44
0.52

0.00
0.00
0.00

1.00
1.00
1.00

0.69
0.23
0.62

0.48
0.44
0.51

0.00
0.00
0.00

1.00
1.00
1.00

The results indicate that the best presentations have statistically significantly less
background slides, more analysis slides, less recommendation slides and less risk
assessment slides. They tend to use implications and data more, and have fewer slides
making recommendations and with question titles. They rely less on standard models and
include competitor analysis more often. The financial analysis of the best presentations is
more focused on profit calculations.
These results are drawn upon and further analyzed in later chapters.

37

2.5.5.

Value drivers in presentations

As the comparison between the best and worst presentations ignores data from the
average presentations and might only serve as an indicator of what types of mistakes to
avoid in order for not to deliver a bad presentations, a final third analysis was performed
on the collected presentation data.
This analysis has two parts. Firstly, the interrelationships between the different grading
elements were studied with cross-correlation. Next, the pairwise correlations between the
presentation variables and the different grading elements were calculated.
The results are tabulated in Table 3. First the interrelationships between the grading
elements are shown, and the elements are listed in decreasing order of effect on the total
points. Below this, the different presentation variables and their effect on each grading
element are listed in decreasing effect on the overall point average. The most important
elements are emphasized.

38

Table 3. Relationships between presentations characteristics and grading, and interrelationships between
different grading items.
#
1
2
3
4
5
6
7

Grading element
Points: Overall point average
Points: Quality of end recommendation
Points: Robustness of analyses
Points: Identification of key issues
Points: Structure
Points: Response to questions
Points: Presentation skills and clarity

1
1.00
0.82
0.81
0.78
0.78
0.73
0.69

Correlation with each point category

2
3
4
5
6
1.00
0.58
0.65
0.60
0.54
0.37

1.00
0.53
0.59
0.55
0.48

1.00
0.46
0.60
0.33

1.00
0.41
0.57

1.00
0.37

1.00

0.23
0.18
0.24
0.07
0.11
0.07
-0.04
0.14
-0.01
-0.06
-0.07
0.18
0.10
-0.04
0.13
0.01
0.18
0.16
0.01
-0.07
0.06
0.05
0.09
-0.02
-0.13
-0.1
-0.12
-0.27
-0.08
-0.28
-0.20
-0.17
-0.15
-0.14
-0.19
-0.23
-0.19
-0.18
-0.14
-0.23

0.42
0.12
0.36
-0.02
0.23
0.17
0.35
0.24
0.23
0.06
0.31
0.03
0.09
-0.04
0.15
-0.03
-0.11
-0.11
0.01
0.17
0.08
-0.11
-0.05
-0.16
-0.03
-0.14
-0.15
-0.07
-0.23
-0.09
-0.13
-0.07
-0.07
-0.15
-0.02
-0.22
-0.15
-0.13
-0.25
-0.34

0.17
0.30
0.13
0.25
0.12
0.02
0.01
-0.06
-0.01
0.17
0.00
0.01
0.25
0.18
-0.18
0.09
0.06
0.09
0.08
-0.09
-0.03
0.04
0.06
0.17
-0.10
0.01
-0.12
-0.18
-0.01
-0.18
-0.20
-0.09
-0.08
-0.10
-0.16
0.02
-0.06
-0.19
-0.14
-0.44

0.39
0.26
0.12
0.30
0.08
0.28
0.19
0.08
0.01
0.26
0.16
-0.12
-0.09
0.08
-0.06
-0.07
0.00
0.02
0.15
-0.03
0.02
-0.10
0.06
-0.08
-0.02
-0.09
0.01
0.07
-0.23
0.02
0.10
-0.02
-0.28
-0.17
-0.23
-0.05
-0.18
-0.07
-0.20
-0.29

Rank Presentation variable

1
Fraction of slides containing implications
0.18
0.38
0.36
2
Number of analysis slides
0.32
0.39
0.20
3
Number of problem statement slides
0.28
0.22
0.23
4
Fraction of slides containing data
0.10
0.24
0.38
5
Financials contain profit estimations
0.21
0.21
0.23
6
Flow of analysis: own model
0.19
0.13
0.20
7
Fraction of alternative comparison models
0.17
0.19
0.09
8
Visual financials
0.16
0.04
0.26
9
Internal analysis included
0.13
0.14
0.23
10
Analysis slides per one recommendation slide
0.12
0.13
-0.02
11
Number of alternative comparison models
0.12
0.13
0.06
12
Competitor analysis included
0.12
0.18
0.22
13
Numerical financials
0.12
0.13
0.13
14
Fraction of slides having a claim title
0.10
0.13
0.16
15
Recommendations have short and long term division
0.07
0.11
0.11
16
Number of financial impact slides
0.04
0.08
0.11
17
Number of own models
0.04
-0.07
0.11
18
Fraction of own models
0.03
-0.08
0.04
19
Recommendations are divided into programs
0.03
-0.06
-0.01
20
Recommendations include a timeline of actions
0.01
0.08
0.00
21
Fraction of slides having a basic title
0.00
-0.08
-0.05
22
Total count of analysis models used
0.00
-0.01
0.12
23
Flow of analysis: unconnected analyses
0.00
0.12
-0.24
24
Number of backup slides
-0.01
-0.03
0.13
25
Risks are listed
-0.06
0.01
0.00
26
Fraction of slides having a question title
-0.07
-0.05
0.06
27
Number of content slides
-0.08
-0.02
0.00
28
Risks have also counter-actions specified
-0.12
0.07
-0.20
29
Number of standard models
-0.13
-0.03
-0.01
30
Number of risk assessment slides
-0.14
-0.11
-0.04
31
Fraction of slides making recommendations
-0.14
-0.13
-0.12
32
Risks are shown in impact x probability matrix
-0.14
-0.14
-0.13
33
Flow of analysis: standard model
-0.15
0.14
-0.23
34
Fraction of standard models
-0.16
-0.06
-0.12
35
Financials contain sales estimations
-0.16
-0.16
0.04
36
Visual and numerical financials
-0.17
0.04
-0.29
37
Financials contain cost estimations
-0.19
-0.19
-0.07
38
Number of background slides
-0.09
-0.21
-0.28
39
Qualititative financials
-0.16
-0.11
-0.22
40
Number of recommendation slides
-0.40
-0.34
-0.26
Figures in boldface indicate correlation coefficient over 0.20, and are in italics if the effect is negative

The analysis results are partly similar to those discovered in the subsample analysis. Use
of implications, number of analysis and problem statements slides, fraction of slides
containing data and the use of profit in financials are linked to increasing points.

39

Additionally the usage of own models as a tool to structure the overall flow is linked to
performance. Background slides, qualitative financials and the number of
recommendations slides are negatively related to performance.
Also the relationships between variables and individual grading items are interesting. For
example, using alternatives seems to be rewarded in terms of more points from the
presentation structure.
Table 4 presents a closer analysis of the different grading elements in terms of statistical
properties and importance in determining the final score.

Quality of end recommendation

Presentation skills and clarity

Response to questions

R2 value
Correlation coefficient
Implied weight

Robustness of analyses

Correlation with total points

Identification of key issues

Mean
Median
Min
Max
Standard deviation

Structure

Statistical properties

Overall point average

Table 4. Statistical properties and importance of different grading elements.

3.72
3.75
2.41
4.67
0.53

3.82
3.92
2.94
5.00
0.55

3.82
4.00
1.58
5.00
0.75

3.50
3.50
2.00
5.00
0.75

3.46
3.46
1.98
5.00
0.80

3.88
3.87
2.00
5.00
0.78

3.81
4.00
2.51
5.021
0.50

0.60

0.60

0.66

0.67

0.48

0.53

0.77
0.78
0.81
0.82
0.69
0.73
17.0 % 17.0 % 18.7 % 19.0 % 13.4 % 14.9 %

Figure being over 5.00 explained by the scaling of 2006 scores

Particularly interesting is the last row, which calculates the implied weight of each
element. The implied weight means the percentage of the final score explained by the
particular grading element. If there would not be any correlations between the elements,
each item would have a weight of one sixth (16.7%). However, some items seem to
influence others more that others, and consequently exert a larger influence on the total
score.
Based on the analysis, the quality of end recommendations and the robustness of analyses
are the best predictors of overall score. A presentation scoring well on these dimensions
is likely to do well in also the others, and vice versa. These results are further elaborated
in later chapters.

2.5.6.

Evaluation of results

The numerical analyses presented here and their underlying assumptions are subject to
various potential flaws and shortcomings explained below.

40

Variable inclusion

Presentations vs. slides

o Although ideally one would wish to study the characteristics of
presentations as a whole, in this case the scope of analysis was limited
to slides. This omits the potential clarifying remarks given by
speakers, and also reduces the potential variables that can be included.

Variables constructed
o Because this phase of the study remained strictly in the quantitative
realm, the variables derived from the presentations remained rather
superficial. For example, studying the application of individual models
might reveal valuable insights. However, because the specific models
used vary so much, it was not feasible to dive into the level of models
more deeply than the simple own vs. textbook vs. alternative
comparison division used.

Variable construction and measurement

Reliability
o Even though steps were taken to ensure the consistent measurement of
the variables in all slide steps, it is possible that the measurements are
not completely accurate and comparable between one presentation and
another.

Validity
o The constructed variables might not be the most effective ones to for
one to discover the intended differences between presentations. For
example, the style of pointing out implications might be verbal for
some teams, and hence would not be recorded in this study.

Analysis methods

Direction of relationship
o In the value driver analysis, the direction of causality is not clear. This
is a common problem for all correlation-based analyses. Although the
hypothesis is that the value drivers cause good or bad performance, it
might well be that good or bad teams just use them more often.

Cross-correlation issues
o In the analyses, each individual item was correlated against the
performance metrics individually. This introduces the possibility that
some items that are not so important by themselves receive higher
correlation coefficients simply because they correlate with some of the
more valuable drivers.

Choice of method

41

o Correlation studies are typically able only to detect simple linear

relationships between the variables, or relationships that have been
transformed to be linear with some transformation. More advanced
methods such as qualitative comparative analysis (QCA) could be used
to uncover relationships that are not found with traditional analysis.
However, they were not used as the variables formulated from the
presentations sets were on such a general level that it is unlikely that
QCA or other heavier methods would have been able to reveal any
significant findings.

Analysis results

Generalizability
o The findings draw from two consecutive years of Advanced CaseSeminar in Strategy, and their applicability to case solving
competitions outside this setting is questionable. I might well be that
different presentation styles are favored in different contexts. Also the
time allotted for solving cases is more flexible in case courses than
case competitions. On the other hand, the composition of the jury and
the cases used during the course are almost identical to those typically
found in TIMES qualifications.

Strength of discovered relationships

o Especially in the analysis concerning the value drivers of
presentations, one should note the overall low values for correlation.
They are expected, as the grading is a sum of many included and not
included variables of which most are likely not even included in the
variables used. A higher coefficient for some item would mean that it
is overvalued in the awarding of points. Nonetheless, correlation
coefficients of around 0.20 discovered in the analysis are typically
labeled as Small in the methodology literature (for example Cohen
1998)

The findings from the performance analysis are used later in this guide, and to show that
a particular piece of evidence is drawn from this study, the notation (performance
analysis) will be used next to the particular claim. Hence while evaluating the validity of
a certain recommendation stemming from this analysis, the potential sources of bias
identified above should be kept in mind.

2.6. Questionnaire to wider audience

2.6.1.

Overview

The last study sought to gather a wider perspective on the findings of the previous phases,
as well as to explore the current state-of-the-art in case team preparation and
presentations. The study consisted of a two-part questionnaire. The first part was meant
for both audience members and participants of case solving competitions, and the latter
was for participants only.
42

The audience was questioned on what they value in a presentation, and how easy each
element of a presentation is to understand. The participants were additionally surveyed on
their teams working methods and their perceptions of the relative importance of different
grading elements.
The questionnaires were conducted as online surveys. A link to the questions was sent to
the students of Industrial Engineering and Management. A total of 26 audience members
and 13 competition participants answered. The total number of potential responders can
not be known exactly, but is in the order of 100 for the audience survey and about 50 for
the competitor survey. Based on this estimate, the response rate was around 25% for both
surveys.
This part of the research attempts to answer the following questions:

What types of presentations are valued by the audience?

What analyses and models are most effective?

How do case solving teams currently organize their work?

What are the differences between team perception of the importance of different
grading elements and the true importance?

2.6.2.

Method

The data was collected using an online survey delivered to potential respondents, second
year and later students, via electronic mail hyperlinks. This method was chosen as it
allows one to reach a wide audience with relative ease, and provides a reliable way to
collect qualitative data. An alternative to this method would have been to conduct exit
surveys during case competitions and related events; however this was not done as no
suitable events took place during the period of the research.
The students of Industrial Engineering and Management are divided by year of starting
studies, and each year can be targeted individually. Because first year students have not
yet had the opportunity to learn the concepts behind the cases or to participate in case
solving competitions, they were excluded from the sample.
An electronic mail was sent to the selected students, urging them to access the online
surveys. The participants were given 4 days to answer. The response time was a trade-off
between too short time leading to sample members not becoming aware of the
questionnaire on time, and too long time enabling the potential respondents to push the
issue to the undetermined future and consequently forget it. It is expected that students
read their electronic mail more frequently than every four days so that the message
arriving too late should not be an issue for most potential respondents.
To encourage participation, a nominal prize of a 40 EUR gift certificate was raffled
among the respondents. Email addresses not linked to the answers to the questions were
collected to make it possible to deliver the prize.
The questionnaire was coded with the OPINIONS-Online platform. This software allows
the user to create simple questionnaires by inputting the questions and answer options
through the programs interface. Answers are collected and accessible to the author of the
survey. The system has been used by the Department of Industrial Engineering and
43

Management for a wide range of studies including course feedback, and has proven itself
as reliable.
After the response period was over the answers were collected from the server and
analyzed. The questions and answers are presented in the following chapters based on the
research questions identified above.

2.6.3.

Audience valuation of presentations

Although the general audience is generally different than a jury, it is still valuable to
study the opinions of the audience on how a case solution should look like. Firstly, in
some instances the audience has an effect on the final score, for example in the course
Advanced Case-Seminar in Strategy where a portion of the participants act as a jury each
time. Secondly, the opinions of the audience indicate how good presentations typically
are constructed and what the audience expects, and this likely correlates with the opinions
of the jury to some degree.
The first analysis of the survey was to present a range of claims derived from the results
of the previous studies. For each claim the respondents had to indicate from 1 (Strongly
disagree) to 5 (Strongly agree) what they think about it. An answer of 3 is labeled
Neutral. The results and claims are displayed in Figure 19..

44

Figure 19. Audience opinions on claims relating to presentations

45

Slides should have an clearly marked implication somewhere

It is important that all team members answer questions equally

The problem definitions of the teams clearly shape the rest of the presentation

Usually the problem definitions between teams vary a lot

The wording of the problem definition is very important

When analysing risks, it is imporant to include counter-actions as well

Risks inherent to the solution should be presented

Financial analysis is very important

It is important that the analyses are connected together with a unifying framework

In terms of financial analysis, it is important to show explicitly all calculations

The case presentation should focus on good analyses as opposed to detailed action plans

Slides should rather contain data or exhibits that text

Claim titles work better than general titles

0%

10 %

1
20 %

30 %

2
40 %

50 %

3
60 %

70 %

4
80 %

90 %

5
100 %

Based on the survey, there is a fairly broad consensus that claim titles work better than
general titles, an unifying framework should be used, financial and risk analysis should
be included and risks should be met with counter-actions. Explicit calculations are not
important in financial analysis, and the problem definitions of different teams are fairly
similar. On other issues the answers are more heterogeneous.
The audience members were also asked to state their preferences on the structure of the
presentation on two issues found to be important dividers of opinion in the focus group
survey. The results are displayed in Figure 20.
The presentation content part should begin with
Simple topics and
background
54 %
None of the above
23 %
The most important
issues, for example
radical
recommendations
23 %

The recommendations should be given

In the end in a separate
section
19 %

In the beginning of the

presentation
12 %

At the same time as the

analyses, and
summarised in the end
57 %

At the same time as the

analyses, for example
by using implications
12 %

Figure 20. Audience opinions on structure

These results indicate that there is not a clear expectation of presentation structure in
these areas. The majority favors presentations starting with simple topics and background
and which give recommendations both along the way and summarized in the end.
However, there is flexibility in this issue as there does not exist a clear standard on this
issue.

2.6.4.

Suitability of different models

Moving from the general level to more specific content analysis, the second part of the
audience survey focused on different models and frameworks typically used in case
solving presentations. The respondents were given a list of 17 models and asked to rank
the five best models you consider the best suited for a typical case solution in order of
preference. The models listed were collected from the presentations analyzed in the
performance analysis study and from those identified in the focus group study answers.
The participants could rank the top five models freely from the list. In the analysis, each
ranking was given points from 5 (ranked first) to 1 (ranked fifth) and the points given
were counted together and indexed to 100. The results are shown in Figure 21.

46

General suitability index

10

20

30

40

50

60

70

80

SWOT-analysis
Alternative comparison: a matrix/ graph showing the positions in space
Financial analysis: detailed analysis of sales, costs and profit
Porter's Five forces analysis
Value chain analysis
Resource-based view (RBV): Sources of competitive advantage
Analysis using a tree model
Competitor analysis in terms of key figure comparison
Financial analysis: calculations of profit or additional cash flow only
Alternative comparison: + / - given
Competitor analysis in terms of offering characteristics
Risk analysis in terms of severity x probability
BCG matrix
Alternative comparison:points given
Alternative comparison: weighted points given
4P (Product, Place, Promotion, Price) model
Financial analysis: only qualitative estimates

Figure 21. Audience opinion of best suited models

Based on the results, SWOT-analysis, custom made alternative comparisons, detailed

financial analysis, Porters Five Forces analysis and value chain analysis are seen to
generally be the best models.
This general suitability score however does not give a deep enough understanding of the
nature of the different models. To get a better picture, respondents were asked to indicate
whether they knew each model, how easy the model is to understand from 1 (very hard)
to 5 (very easy), how useful they consider the model to be in a typical case solution from
1 (destroys a lot of value) to 5 (adds a lot of value) and how often they have seen the
model used in a case presentation from 1 (never) to 5 (almost always).
The scores on usefulness and ease of understanding for each model were calculated as
averages from those who were familiar with it. Next, the models were plotted in a graph
for comparison. The results of this analysis are shown in Figure 22.

47

90

100

4.2

Symbol Description
VC

SWOT
5F
BCG
VC
RBV
A:wp
A:p
A:+/ A:cust

A:cust
F:p

F:scp
C:offer

3.8

risk

tree 5F

SWOT

RBV
Usefulness

A:+ / -

3.4

C:offer
C:figure
4P
tree
risk
F:p

A:p

A:wp
C:figure

BCG
4P

F:scp

3.0
F:q

Known by > 95%

Known by 75-95%
Known by < 75%

F:q
2.6
3.2

3.6

4.0

SWOT-analysis
Porter's Five forces analysis
BCG matrix
Value chain analysis
Resource-based view: Sources of competitive advantage
Alternative comparison: weighted points given
Alternative comparison: points given
Alternative comparison: +/ - given
Alternative comparison: matrix/ graph showing the
positions in space
Competitor analysis in terms of offering characteristics
Competitor analysis in terms of key figure comparison
4P (Product, Place, Promotion, Price) model
Analysis using a tree model
Risk analysis in terms of severity x probability
Financial analysis: calculations of profit or additional
cash flow only
Financial analysis: detailed analysis of sales,
costs and profit
Financial analysis: only qualitative estimates

4.4

4.8

Circle area represents how often encountered

Ease of understanding

Figure 22. Usefulness, ease of understanding and familiarity of different models

Firstly one should notice that the axes of the matrix are scaled to maximize the separation
of the different models in space to enhance readability. Yet, considerable differences
exist between the models.
This matrix is central in developing ideas on models further in chapter 4. The results will
be elaborated and the matrix repeated in that chapter.

2.6.5.

Participant preparation

The purpose of the participant questionnaire was to answer the third research question
relating to the work organization of case teams. Insight into this area was gained from the
focus group survey, but a wider and more quantifiable set of data was needed to verify
the findings.
In the first part of the participant questionnaire the respondents were presented with a
series of claims relating to how their team organized their work. For each claim, the
options ranging from 1 (Strongly disagree) to 5 (Strongly agree) were presented, with 3
meaning Neutral. The claims and results are presented in Figure 23, with I do not
know-answers being left out.

48

Figure 23. Participant views on preparation

49

It is helpful to have a common structure used in most cases

Our team had a common structure that was used in most cases

Time spent on rehearsing the presentation is well spent

Even under time pressure we typically rehearsed the presentation

Our team tried to favor data and exhibit slides over text slides

Our team tried to minimize the amount of content on each slide

Our team tried to make all slides have an uniform appearance

It is helpful to have a single person responsible for timekeeping

In our team, a single person was responsible for timekeeping

It is helpful to have a preset schedule

Our team had a preset schedule for the case solving

It is helpful to have define stages in the solution process

Our team had defined stages in the solution process

It is helpful to have a clear leader

Our team had a clear leader

It is helpful to have preset roles

Our team mostly used preset roles

Training case solving on my own time was helpful in developing my case solving skills

Participating in competition was helpful in developing my case solving skills

Participating in case solving training was helpful in developing my case solving skills

Advanced Case-Seminar in Strategy was helpful in developing my case solving skills

0%

10 %

20 %

1
30 %

40 %

2
50 %

3
60 %

70 %

4
80 %

90 %

5
100 %

The results show that Advanced Case-Seminar in Strategy is the most useful way to
prepare for case solving, teams use defined stages and schedules in their solution process
and find it useful, strive to make their slides have an uniform appearance and a to use a
similar structure in all cases. A similar structure is also found helpful. Preset roles, such
as that of a timekeeper, are typically not used, and presentations are not rehearsed when
there is time pressure. On other issues the opinions are more widespread.
The questionnaire also included seven multiple choice questions on task division and idea
generations. The answers to these questions are presented in Figure 24. For each question
the respondents also had the option of None of the above, but in instances where it was
not selected by any respondent it is left out.

50

In our team, initial ideas were mostly developed

As a team
46 %

In our team, analyses were mostly developed

As a team
23 %

Individually
31 %

Individually
39 %

In subgroups
38 %

In subgroups
23 %

In our team, key issues and the problem statement were typically decided

In our team, detailed slide contents were mostly developed

During the same time

as analyses were made,
or between analysing
15 %

As a team
15 %
In subgroups
8%

Right after reading the

case
8%
After a short discussion
77 %

Individually
77 %

After all the analyses

were made
0%

In case of a conflict between opinions, the conflict was usually solved

In our team, the ideas originated mostly from

None of the these

methods
15 %

Structured analyses on
case data performed as
a team
8%
Structured analyses on
case data performed
individually
8%
Free flowing individual
thinking
8%

By the team leader's

decision
15 %
With a vote
15 %

Free thinking and

discussions with the
team
76 %

Through reaching
concensus by
discussion
55 %

In our team, the slides were usually prepared

Made by the performer
of the analysis
47 %

Completely by one
member
15 %

Sketched by the
performer of the analysis,
finished by a single
person
38 %

Figure 24. Multiple choice answers in participant survey

51

The results show a wide variety of methods used by different teams. In terms of work
organization, individuals working alone, subgroups and whole team participation are all
used, with a slight tendency for teams to begin by working together and end in individual
work as the big picture is complete. Conflicts are solved typically through discussion, and
free discussion is also main the source of ideas for most teams. Slide preparation methods
are widespread.

2.6.6.

Importance of different grading elements

The last research question was What are the differences between team perception of the
importance of different grading elements and the true importance? This is relevant, as it
might well be that teams are optimizing their preparation and presentation time for issues
that are not critically important.
To discover the opinions of teams, each respondent was asked to rank each grading
element in terms of importance. The ranks were assigned points from 6 (most important)
to 1 (least important) and the total points for each element were counted, and normalized
so that the maximum would be 100.
From the jurys questionnaire the answers to the question concerning weighting were also
normalized to reveal how important the jury members see each element. Finally also the
results from the performance analysis study were normalized. Each is plotted in Figure
25.
Perspections of importance, index

10

20

30

40

50

60

70

80

90

100

Identification of key issues

Presentation skills and clarity
Structure
Quality of end recommendation
Robustness of analyses
Response to questions
Team rankings

Performance analysis results

Jury survey results

Figure 25. Perceptions of importance of the grading elements

The results suggest that the ratings of importance between the elements are not perfectly
aligned. Naturally the different calculating schemes yield different distributions of scores,
so the differences in the graphs in Figure 25 should be treated as only giving rough
estimates of magnitude. Figure 26 shows the difference between the participants
weighting and the average of the jurys opinion and actual scoring correlation data.

52

Response to questions

Underrated

Robustness of analyses

Quality of end recommendation

Identification of key issues

Overrated

Structure

Presentation skills and clarity

-60 %

-50 %

-40 %

-30 %

-20 %

-10 %

0%

10 %

20 %

30 %

Differences in team perceptions and reality

Figure 26. Over- and underrated value drivers in presentations

This analysis suggests that responses to questions, robustness of analysis and quality of
end recommendations are areas where the participants do not typically allocate enough
attention to. Presentation skills, structure and identification of key issues are considered
more important by the competitors than the jurors.

2.6.7.

Evaluation of results

The results obtained by analyzing the questionnaire deserve scrutiny before being
accepted as facts. Some of the important sources causing potential bias in the results are
identified below.

Sample
o Original sample selection

The sample was selected as students of industrial engineering and

management at the Helsinki University of Technology. This is a
rather limited sample in comparison to the thousands of students of
participating TIMES schools for example. The selection was done
to enable assuming a common base knowledge of all respondents
and for accessibility reasons. A larger sample would have allowed
for cross-school comparisons and more generalizability in the
results.

o Respondents compared to sample

The rate of response was average, everyone did not participate.

There is a possibility that those responding differ from those not
responding, and this introduces a potential for bias. One method of
checking for this is comparing late and early responders answers,
and hypothesizing that late responders are more similar to nonresponders. However, in this case the sample size was too small for
this kind of a comparison. It is likely that the people responding
are more interested in case solving and helping in developing case
solving guidelines. It is not evident how this biases the results.
53

Questionnaire
o Question inclusion

The selection of questions determines the limits of what can be

found. It is possible that many relevant issues were left untouched
by the questionnaires questions. There was also no possibility for
free answers given in this questionnaire to make it as simple as
possible. This kind of bias is reduced by the fact that earlier studies
on the focus group and literature were used to aid in constructing
the questionnaire.

o Question formulation

The wording of the questions and answering alternatives can have

an effect on the answers given. Effort was made to keep the
questionnaire as neutral as possible, and the questions are reported
in order for the reader to gain an understanding on what exactly
was asked.

Analysis
o Strength of discovered effects

The size of the sample was rather small, and this prevented
subsample comparison and more detailed statistical analysis. The
reported averages and other variables should be treated with
caution and only as indications of general trends as the variance in
answers has the potential for biasing the results.

o Variable construction

The general suitability index, model categorization and other

analyses are attempted to be made transparent by explaining the
method of construction. The way in which they were calculated
should be kept in mind when considering their implications.

Later in this report results based on the questionnaire to wider audience are marked with
the label (wider audience questionnaire).

2.7. Closing remarks on the empirical research

The empirical research conducted for this report consisted of six different parts: own
experience and literature survey, informal discussions with team and friends, a focus
group survey, a jury survey, performance analysis on old presentations and a
questionnaire to case competition participants and audience members.
The preceding sections have focused on the presentation of the raw data discovered
during different phases of the empirical research process without deeper analysis and
without providing explicit implications for case competition teams. This is done in the
following chapters, where the results from the six different empirical studies are
interwoven together to present recommendations on the preparation, content and
presenting of case solutions.
54

While attempts are being made to keep the given suggestions free from the personal bias
of the author and transparent in terms of their source, they should still be read in light of
the identified weaknesses of each empirical study method.

55

3. Preparing the case solution

This chapter begins the utilization of the empirical results reported in the
previous chapter. The focus is on how to use the allotted preparation time in
the best possible way in terms of time and role division, working methods
and practical issues. The purpose is to give you insight into different work
structuring methods and enable you and your team to select and fine-tune
the best method for you.

3.1. Time allocation

Three hours is an extremely short time to read a case and develop a sound
recommendation for a set of critical judges. While a normal group assignment typically
has plenteous time for working, a case solving team does typically not have this luxury.
The tight schedule forces teams to devise ways of using the time as efficiently as
possible.
Based on the wider audience questionnaire and the focus group survey, a staged approach
is typically used. In this approach, the team has devised a rough schedule for each phase
of the work, and attempts to follow it. This means for example that even if the analyses
are not completely fine-tuned at a certain point in time, the team still moves forward to
the next phase.
Some teams, however, use a more flexible method of allocating time. This means that
while the general time constraint is kept in mind, the time spent for different issues is
allowed to vary. In some cases the teams use an otherwise flexible timing system, but
have a set latest time when slide preparation must be started in any case. (focus group)
In any case, it is important to make sure that no time is wasted. A scheduled approach
ensures that the whole team knows the whole time what they should be doing, and very
little time is spent on coordination during the case solving. If a more flexible approach is
used, there will inevitably be discussions on what should be done and when. If this
discussion goes well, the time allotting can be optimized for the particular case with very
little time spent on coordination. On the other hand, a lot of time can be wasted on
useless time allotting discussion. (own experience)
The flexible approach can be better suited for some teams and cases, but often leads to
trouble if the scheduling of the team fails and there is no time to prepare the actual
presentation (own experience). Hence the decision to use flexible timing should be made
consciously rather than out of neglect, and the consequences of it must be kept in mind.

3.2. Role division

The team in a case solving competition is typically treated by the organizers as consisting
of equals, but internally it is allowed to use any kind of role division seen fit by the team.
In the focus group survey, some of the respondent replied that their team uses preset roles
and has a clear leader, and other teams thought it would be a good idea.

56

In the survey conducted on case competition participants, however, mixed support for
having preset roles and a clear leader was found. Some teams do not see that they add
value, while others strongly think so. Again, it seems that the decision on whether to use
preset roles in the process or not depends on the team.
To give an idea of different process roles, Table 5 collects the different roles encountered
in the focus group survey and in other settings.
Table 5. Different roles in case solving

Role

Description

Usage

Leader

A person responsible for coordination, the 2 of 9 teams in focus

overall solution and the performance of the group study, additional 3
team.
teams consider as a good
idea

Dictator

A person having the final and unquestionable 1 of 9 teams

say on all arguments so that they can be ended
quickly

Timekeeper

A person responsible for keeping the preset 3 of 9 teams

schedule and controlling time

Slide maker

A person specializing in creating the final 3 of 9 teams

slides, often alongside doing other work as
well.

Presenter

A person or persons responsible for the Rarely used at TKK,

presentation part and doing all the public sometimes by foreign
speaking
teams (own experience)

Sanity
checker

A person responsible for checking the sanity

of the proposed solutions at all times,
especially the financial sanity. Ensures that
wrong paths are not followed too long.

Rarely used at TKK, but

could be a valuable role
in light of focus group
and jury survey.

In addition to simple roles, case solving teams can also employ more complicated roles
related to the case solving process. Table 6 shows one such process with different roles
for each participant. Further examples will be given in later sections.
Table 6. Process specialization by the TIMES 2001 team (from Kari 2001)

1. Everyone reads the case and discusses about the key issue and the problem definition.
When these issues are agreed upon, the person specializing in this phase (the key
issue and problem definition phase) drops off from the case solving and starts making
the first slides about key issues.
2. The remaining three persons discuss how the problem can be structured and analyzed
and what the main thesis or the best alternative is. Again, when this is agreed upon,
the person specializing in this phase (the problem structuring and main thesis phase)
drops off from the solving and starts making slides.

57

3. The last two members discuss the major recommendations and how to synthesize the
presentation. Then both of them prepare the slides of the phase (developing
recommendations or synthesizing) they are specialized in.
4. The different parts have to be combined for the presentation. This phase starts when
the first slides are ready and it requires interaction of all the team members.
A similar role division was used by the TIMES 2006 team, which followed the division
outlined in Table 7. The key difference is that the roles of the Analysis and
Recommendation persons are enacted only in the final phase of preparation, and most of
the preparation is done in a subgroup of three people with everyone being equal. The
process is explained in more detail later.
Table 7. TIMES 2006 role division (based on own experience)

Role

Description

Background & Slides A person responsible for drawing the final slides based on
sketches and instructions from other people, and finalizing the
(B&S)
background analyses based on team discussion.
Analysis (2 people)

After the sensemaking phase (where also Recommendationperson is present), finalize the analyzes decided by the team.

Recommendation

Collecting the recommendations of the sensemaking phase and

preparing the action plan, financials, risk assessments and
summary slides.

In addition to process role division, teams can also divide the case preparation process
based on responsibilities on different areas. For example, the different potential areas
where to look for problems in the company, which are presented later in Table 18, can be
divided among the team so that each member has a responsibility for ensuring that they
are covered in the solution, if appropriate.
Based on the focus group study, the division of content is typically done during the case
solving process rather than being preset. Many teams feel that the team members do not
differ substantially in the skills and background knowledge they have, and hence any
functional division would not be beneficial. To overcome this limitation, it might be
useful to either build the team so that it has a wide variety of backgrounds, or develop
competencies in different areas while preparing for the competition. The latter option is
naturally extremely demanding, but might be something ambitions teams could consider.

3.3. Group division and work coordination

Related to the division of roles is the decision on how to work as a group in terms of
individual and teamwork balance. A three hour case with a four person teams has
altogether 12 work hours, the problem is how to make the most of them. Based on the
wider audience questionnaire, there is no uniform way of approaching this problem.
Some teams prefer to use the whole team the whole time, while others opt for more work

58

as a group. The questionnaire shows that there is a trend towards more individuality as
the solution proceeds. Initial ideas and the rough solution are more typically done as a
team, while later phases are often done individually or in subgroups.
A lack of a uniform approach suggests that deciding how to work is a complicated
tradeoff decision. It is true that working alone can be said to quadruple the effective time,
but on the other hand it demands careful coordination so that time is not wasted and the
individual work supports the overall group goals. To aid in developing a good process for
your team, Table 8 lists some potential value destroying situations that you might
encounter while solving a case.
Table 8. Value-destroying activities in individual and group work (based on informal discussions with
team members and own experience)

Individual work

Problem

Description

Full Stop

Team stops individual work as someone asks a question

addressed to everyone.

Useless work

For example, a slide is prepared by one person which later is

determined not relevant by the group opinion.

Duplicated work

Two team members unknowingly perform the same analysis

or do other duplicate work.

Unemployed
person

One person in the group has nothing to do and waits for

others to finish.

Underemployed
person

A person has run out of meaningful work, and starts to do

work which does not add value.

Bottleneck waiting

Occurs when some resource (for example slide pens or team

leader attention) is in short supply and a person has to wait.

Repetition of facts

Whole team listens while one person explains issues that

everyone already knows and agrees with.

Group work

One does, others One person has captured the attention of others and does
something taking time (often calculations) while whole
wait
group waits.
Too specific issues Whole group time is taken by very detailed issues that could
be easily decided by a single person
discussed
Unverified
assumptions

To avoid the One does, others wait situation, analyses are

left undone and the discussion proceeds by assuming the
results of analyses and calculations never done. Later the
solution proves suboptimal.

Groupthink

Group forgets to do basic sanity checks and to voice

concerns about feasibility as individual members do not wish
to disagree with the majority. Discussion proceeds to
unfruitful end.

59

The table above can be used when analyzing your workflow. How often does each
situation result, and why? Could the issue be solved by improving the working methods
in that stage, or should the degree of group division be completely changed in that
situation, for example by moving from individual work into subgroups?
Because each group is different, no advice to suit all can be given. The TIMES 2006 team
had a preference for group work over individual work except for the very end, where the
detailed slide contents were developed individually. Other successful teams like TIMES
2001 combine interleaving phases of individual and group work. Whatever your team
chooses, it is important to do an informed decision and keep in mind the potential
problems with each approach.

3.4. The solving atmosphere

To decide the best solution, we have an argument, a fight even. Others try to
smash the idea, and if it survives it must be good Focus group member
The atmosphere should be full of trust, the discussion should be kept open and
peaceful and everyone should be treated as an equal. Focus group member
What happens behind the closed doors of the preparation room varies a lot from team to
team. When the focus group members were asked about the atmosphere that the teams
consider the optimal, the following tips and advice were given:

Open, but focused discussion. Everyone should participate, but all comments
should add value and be relevant. Do not spend valuable time on marginal issues

Leave egos outside the solving room. Everyone should focus on the teams
performance rather than their own.

Trust and equality must be developed among the team.

This kind of trusting and open atmosphere is considered good by most teams; however it
can lead to lack of critical thinking and questioning. Because of this, some teams prefer
to have elements of adversary in their atmosphere, at least in some phases. For example,
the discussions on what alternative to choose can be very heated, with people defending
their own ideas fiercely. Yet the overall spirit of the argument remains healthy, and the
people do not have negative feelings afterwards.
It is of utmost importance that interpersonal conflicts do not take up valuable time or
otherwise result in low performance. The best way to solve such conflicts is to recognize
them early, and discuss them openly. Some focus group members dedicate training time
to discussing and improving group dynamics, and this can be very valuable.
These kinds of soft issues might seem secondary in importance to the more clear areas
such as improving the recognition of key issues and performing analyses, but in the end
they are very important. A team that does not have a good case solving atmosphere will
likely operate at lower performance levels, end up training less and be prone to
dysfunction as the pressure increases towards the end. (own experience)

60

3.5. Top-down, bottom-up and mixed methods

The previous sections have focused on the organization of work and people, and mostly
ignored the content of the work being done. The following sections will examine the
different ways in which the solution can be developed.
First we take a look at the three fundamental ways of developing the solution. The topdown, bottom-up and mixed methods are presented in Table 9.
Table 9. Comparison of solution methods

Bottom-up

Top-down

Mixed

Overview

Analysis Solution

Solution Analysis

Analysis Solution

Description

First prepare analyses

of the different issues,
then based on these
develop
a
recommendation.

Start with devising a

solution
and
continue by proving
its
worth
with
analyses.

Free
discussion
where analyses are
done informally and
the solution is kept
flexible as long as
possible.

Caveats

Too much focus on

analyzing every aspect
of the solution. In the
end the presentation
does not have a clear
focused solution.

Initial
intuitive
solution can be
wrong, and this is
discovered too late.
Even
the
team
knows they are
proposing a bad
strategy.

Discussion must be
kept focused and
value-adding, or else
whole time is spent
to useless talking
and no solution is
formed in the end.

Strengths

All issues are likely All analyses are When

executed
taken into account.
relevant and there is properly, combines
a clear structure.
best from top-down
and bottom-up.

The different methods tackle the problem of developing the presentation in

fundamentally different ways. A bottom-up method can be seen as intellectually honest,
because the recommendation is truly the result of a comprehensive analysis. The topdown approach relies more on experience and intuition. A mixed method can easily
become no method at all, but when executed properly the idea is to keep the solution
flexible and modular, and identify the relevant analyses that must be done to decide on
the final structure of the solution.
Examples of working methods that exhibit the characteristics of the different archetypes
are given in Table 10Table 11.

61

Table 10. Time division by the TIMES 2001 team (Adapted from Kari 2001): Bottom-up structure

Phase

Time allotted (min)

Leaf through the case and questions, quick analyses

Reading the case

25-35

Brief discussion

Analyses

15-25

Structure problem, generate main thesis

10-30

In subgroups:

65-90

Analyze problem, produce solid proof

Develop recommendation
Synthesize
Practice presentation

20

Table 11. Time division by a TIMES 2007 Helsinki local qualifications team: Top-down structure

Phase

Time allotted (min)

Browsing through the case: identification of the type (cost 5

reduction, acquisition etc.), industry, are there any
questions in the end
Reading the case and making notes in the case or on 30
separate papers on the way
Deciding the rough solution: based on gut feeling and very 10-30
rough analysis
Drawing the blank slides (i.e. the skeleton of the 5-15
presentation)
Performing analyses: The aim of the analysis is to support 100-130
the solution. Feasibility checks of the solution are usually
done in the previous phase. The slides are prepared along
the way while performing analysis

Table 12. Time division by the TIMES 2006 team: Mixed structure

Phase

Time allotted (min)

Read the case

25

Sensemaking phase with BPARS

120

Individual slide preparation

35
62

While the solution method does not have to correlate with the presentation itself, in
practice it often does. What this means is that teams performing a bottom-up solution
process typically focus on presenting the detailed analyses (after all, this is what they
spent their time doing), while top-down teams typically focus on developing their
solutions during the presentation.

3.5.1.

Evaluation of different methods

Which then is the best method? Before answering this question, Figure 2 should be
studied. It visualizes the observations of an experienced case course instructor related to
the presentations given by case solving teams.
Valuable
3
2

Irrelevant

Analytical and
theoretical

Common sense
and practical

Figure 27. Team evolution (based on discussions with a case course instructor)

According to the observations, teams typically follow a similar trajectory. Beginners

focus on analytical frameworks and theoretical considerations, as they have not yet
developed experience in solving cases. Next the solutions improve with more practice,
and the teams tend to move towards more freely structured, less rigorous solutions. In the
final phase the teams move back towards a more analytical approach, but use the tools
and frameworks in a more value-focused way rather than ends in themselves.
If this observation is correct, and the presentations correlate with the preparation method,
this would suggest that teams also change their solution methods as time proceeds: first a
bottom-up analysis focused method is used, then a top-down solution focused method,
and finally a mixed method combining both. An alternative explanation would be that
teams stick to their preferred solving method, but develop that in a way that masks the
underlying method while increasing the relevancy of the solution.
This analysis is much based on guesswork, but is also supported by my own experience.
In the end, the structure used by the TIMES 2006 team converged to a mixed method,
which was coined the BPARS-framework during one of the training sessions. A bottomup method was used by my ACS team in the beginning, and a top-down method towards
the end of the course. (own experience)
The mixed method is, however, not without caveats. Special care must be taken in
ensuring that it remains a method, not just a mixed up and confused way of approaching
63

case solving. Hence one of the other methods might be a better starting point when
familiarizing the team with solving cases.

3.6. Ways of working

Next we move from the general top-down and bottom-up approaches to more concrete
ways of working. While each case will require different steps in solving it, a number of
different general frameworks have been presented by different approaches. Before
reviewing the results of this study and giving my own recommendations, I would like to
start by presenting different frameworks presented by earlier guides.

3.6.1.

Ways of working based on earlier guides

Table 13 shows the suggested case solution steps given by Hayward-Farmer (1979) for
solving management cases.
Table 13. Example steps in a case solution (Based on Hayward-Farmer 1979)

Phase name

Description

Reading

Read through all the material

Problem definition

Formulate a statement about what problems the company

is facing

Information summary

Collect key issues and important pieces of data

Information analysis

Analyze information to draw conclusions to be used later

in assessing alternatives

Problem re-examination

Check that original problem definition was good enough

Formulation of alternatives

Create a set (2-5) of clearly different alternative courses

of action

Listing advantages
disadvantages

and Go through the alternatives and analyze them

Evaluation of alternatives

Based on the analysis, choose the best alternative

Implementation of chosen Prepare a timed sequence of moves which reaches the

target as well as possible and avoids potential
alternative
disadvantages discovered
Control

Create a set of controls for the management with which

to evaluate implementation

Re-examination

Check previous stages work for consistency and

completeness

Report preparations

Based on previous stages, prepare the formal presentation

This method of solving is very throughout and rigorous, and rather similar to a typical
strategy preparation process recommended by strategy textbooks. Special attention is
64

paid to ensuring that the solution is complete: first the problem definition is checked and
later each alternative solution is evaluated.
The potential shortcomings of this framework is that is demands a lot of time. The steps
are primarily designed to be undertaken when preparing a case solution for class
discussion rather than for a case competition. The final phase, Report preparations is
also very generic and the framework doesnt give explicit recommendation on how to
actually synthesize the discussion into a concise presentation.
An alternative approach for solving cases is given by Roberts (1983), which is also
supported by Shapiro (1988). It is shown in Table 13.
Table 14. Management focused case solving process. (Adapted from Roberts 1983 and Shapiro 1988)

Question

Focus

What is going on in the organization

Analysis

What is management trying to do

Objective

What did the management actually do

Performance

What could management have done

Alternatives

What will management do

Predictive

What should management do

Judgment

What would you do

Personal choice

The key of this framework is the focus on management. This is done to ensure that the
solution is action-oriented and relevant. Alternatives are also considered in this
framework. While it might be useful as a generator of ideas, it is not very specific in
terms of what the team should do and when.
A third framework is developed in the Ace Your Case guide by Niklas Kari (2001). The
framework forms the core of the guide, and Table 15 presents only a brief summary of
the approach.
Table 15. Case solving steps of TIMES 2001 team (from Kari 2001)

Phase name

Description

Read and analyze

Collect key issues from the case, understand what is happening in

the company and the industry
Develop a specific, actionable, focused and though-provoking
problem statement. Identify the symptoms and causes of potential
problems and the aspirations of the company.
Select one of the following structures: (1) the deductive approach,
(2) the minimum criterion approach, (3) the hypothesis driven
approach, and (4) the comparison approach.

Define the
problem
Structure the
problem
Perform analyses

Depending on the structure, perform different kinds of analyses

65

Based on the analyses, develop actionable recommendations.

Develop
recommendations
Prepare the presentation to the structure: Background, Problem
Combine parts
and synthesize the statement, Analysis, Recommendation and Synthesis.
solution
As the Ace Your Case guide is focused on TIMES competition cases, the framework is
also very tightly tailored to this particular case solving setting, taking into account the
time pressures and the experience accrued by the author regarding different case solving
methods. It is very tightly bottom-up, as identified earlier while presenting the related
solving process (Table 10). Many of the ideas presented in the guidebook are also quoted
in this report, but for a more through review on the process, please consult the original
guide.
Departing from the tradition of phase-oriented rigid frameworks, Hammond (1987)
proposes a more flexible solving method where the key is to allow thinking to flow freely
and to immerse to the role of the management as deeply as possible. Through seeing the
case world reality through the lenses of the management the team is then to develop and
record solution ideas, which are then combined into a solution.

3.6.2.

BPARS-framework

The final way to work is presented in Table 16 is the BPARS framework used by the
TIMES 2006 team. This framework was developed by the team between the semi-finals
and the finals based on experience from solving a multitude of different cases.
Table 16. BPARS-framework (based on discussions with team members and own experience)

Phase

Description

Reading

Read the case through and skim through the appendices. When
waiting for the slowest reader, perform quick analyses and
individual informal idea generation.

Decide the key issues of the case: what is happening or has

happened, and what are the implications of this? After this phase,
one person (B&S) starts to finalize the background slides and
prepare rest of the common slideware (agenda, title slides etc).

Sensemaking
(PARS)

Determine the problem statement, different areas demanding

analyses, the recommendations and the overall synthesis of the
solution in a flexible way. Develop an analysis framework that
encapsulates the analyses. Use the BPARS-board to structure
thinking (explained later). Give B&S analysis tasks to complete in
the background if necessary.

Finalize analyses

Divide analyses and recommendations between team members,

sketch the slides on a piece of paper and give to B&S for
finalization.

As the framework is very loose, having few definite phases and involving a mixed
structure, it requires other sources of rigidness than the phase approach used by other
methods. The framework utilizes the BPARS board (typically drawn on a flipchart) to
66

structure the analyses. An explanation of the chart together with example content is given
in Table 17.
Table 17. Elements of the BPARS board

Item

Description

Examples

Collect important key issues and

implications here. Each issue will
later become an individual slide, or
included in a collection of
indicators, or dropped.

Sales down Trouble in current

marketing mix

Problem
Statement

Devise and revise the problem

statement here. Ensure that it
follows the guidelines for a good
problem statement, and reflects the
current understanding of the
problem.

What steps can company X do to a)

improve sales in the short term and b)
ensure long-term competitiveness

Analysis

Collect different analyses here.

Format is always Message
Evidence
Implications. At some point, devise
a unifying framework to connect the
analyses. Check that all relevant
areas are included here in the end of
discussion.

Overly scattered sales force hurts sales

Sales force / area graph
Reduce target market areas
geographically

Recommendation

Collect the implications here, and

group them into strategic initiatives.
Plan the sequence and present an
action plan. No new issues here, all
must follow from analysis.

Market mix improvement: Redistribute

sales force, change product positioning
and increase price level.

Background

Low R&D compared to competitors

Long-term position in danger

90

Synthesis

Final message developed here, top

three issues of the solution, maybe
some kind of a final visualization.
This is something the jury should
remember and set our solution apart
from others.

91

92

93

94

95

96

97

98

99

Capture easy money

Defend market position

Reshape offering

The key philosophy of the BPARS framework is a tight connection between preparation
and presentation, and an emphasis on the clarity of the structure of the presentation. More
specifically, the BPARS framework attempts to address the following issues:
67

Tight connection between preparation and presentation

o Each item on the BPARS board corresponds to a slide in the presentation,
so no wasted work can be done

Ensuring the flow of the presentation

o Story is developed on the BPARS board in a flexible way.
o The analyses are united with a common framework tailored to the
particular case (for example decision tree or 4P framework)
o When possible, the unifying framework is emphasized between all
analyses with a framework slide shown between the analyses

Relevancy of analyses
o Each analysis and background exhibit must follow the Message, Evidence,
Implication structure, no analysis for analysis sake.
o Analyses can be dropped and added freely during the sensemaking phase
with little lost effort.

No claims without evidence

o B&S person can do the heavy number crunching or other tedious analyses
on the background while the rest of the team focuses on other areas
o Each recommendation and implication must be backed up with data, and
forcing the Message, Evidence, Implication structure on the board keeps
this transparent

Extremely tight coordination and coherence of solution

o No need for a combination phase as all persons except B&S are involved
in the whole development of the solution
o Structure of the solution is usually 1-to-1 with the BPARS board.

Professional slides and presentation

o Final slides are prepared by the B&S person, which results into a uniform
look between the slides.
o B&S also acts as quality control, ensuring that slides fit together, use the
same terms and are understandable to an outsider (as the B&S person has
not participated in the detailed analysis)
o Each person presents only those slides he or she has prepared, and hence
has a good understanding of the content.

The BPARS framework is not without its problems. During the training and
competitions, the TIMES 2006 team noted that the following areas can sometimes be
problematic:

Background analysis not entirely in sync with rest of the presentation

68

o This problem arises from the fact that the B&S person prepares the
background slides in a very early phase of the solution process, and the
understanding of the key issues can evolve during later phases. The way to
avoid this is first to keep the B&S person informed about possible radical
changes in understanding, and secondly to keep the background slide
contents rather simple so that no clear commitment is made in them.

B&S person not completely knowledgeable of the final recommendations

o As the B&S person has not participated in the sensemaking phase, he or
she can feel at bit unsure about what actually is the plan. Sometimes this
can be seen in the initial presentation, where by accident a statement not
coherent with the rest of the presentation is given. These situations can be
avoided again by making the beginning very simple.

Not perfectly suitable for cases requiring heavy data crunching

o As the sensemaking phase is done in a group, it tends to be more
qualitative than quantitative in nature. Cases requiring heavy analysis of
figures are not well suited for free flowing discussions. In these cases the
B&S person can be used to provide analytical services, for example by
performing calculations defined by the rest of the team. If this is not
enough, the sensemaking phase could be interrupted with quantitative
individual work after the direction is clear.
o Typically lighter number crunching is done while discussing. Usually
order-of-magnitude estimations are enough to determine a good enough
solution to some problem and the more precise calculations are then done
in the final phase individually.

The BPARS analysis framework was considered a success also by my teammates in the
debriefing after the TIMES 2006 victory. As a war story, one could mention the final
case of the TIMES 2006 finals that was completely unrelated to business: the task was to
provide recommendations for improving the economy of Brazil. As none of us was
deeply familiar with macroeconomics or developing countries, the only asset our team
had was the BPARS framework for solving cases. We followed the same structure as for
other cases, and the result was a success we won the case with the biggest margin.
There is no way to guarantee that any individual solving framework would provide
superior results to a given team. Hence the most important issue is to make the solving
process decision explicitly, and to be informed about the ramifications each decision can
have. Based on my own experience, the solving process is one of the most important
assets a team has.

3.7. Idea creation

Now that the task division and process aspects of solving cases have been covered, the
next question is how to create and refine the great ideas during each phase of the process.
The jury survey indicated that it is important to ensure that the solution process focuses

69

on the right issues. Beyond that, it is up to the team creative capacities to determine how
those issues should be addressed.
We almost never came up with ideas that were not resulting from analysis. In
part this ensured that the ideas were quite feasible, but also meant that there
weren't many ideas floating around. Focus group member
We had methods for three different types of cases. Each method contained a
series of steps and a checklist. Focus group member
Our case solving was mostly brainstorming and free flowing thinking. Usually
the results of the analyses were developed before the analyses were actually
carried out. Focus group member
There are three fundamental ways to create ideas: free flowing thinking, analyses and
checklists. Free flowing thinking refers to methods like brainstorming, where the ideas
are developed without a rigid structure and mostly based on the intuition and experience
of the team. Analyses are structured methods of ensuring that all areas and options are
covered in creating ideas. For example, Porters Five Forces framework ensures that
suppliers, customers, substitutes, new entrants and industry rivalry are all taken into
account. Checklists are similar to analyses, but instead of attempting to create a
framework to connect the areas they rely on separate, and often more specific questions
or topics to ensure that all relevant ideas are taken into account. (focus group)

3.7.1.

Tools for free thinking

Free flowing thinking is next to impossible to teach in a case solving primer such as this.
However, some methods that have been useful in my experience should be outlined:

Analogies, reframing
o When thinking in terms of an analogy, the case situation is transferred to
something more familiar, or something more abstract. For example, one
can think of the case solving and presentation process in terms of pearls
and a bottleneck as was done earlier.
o The same analogy can be used in the presentation, if it proves valueadding and is easy to communicate. However, it should be kept in mind
that an analogy is never proof.

Brainstorming
o Brainstorming refers to the free and uninhibited creation of ideas, which is
then followed by an evaluation phase. The idea is to first focus on the
creation of ideas and only later be concerned about their suitability and
feasibility.

A case bank
o A more experienced team with a long list of solved cases can usually find
similarities to previously solved cases. By focusing on the similar aspects
and the solutions given in the previous case the team can generate some
ideas that can be used later.

70

Thinking from scratch

o Instead of focusing on the current reality the company is facing, take a
look at how the issue would be handled if the solution could be developed
without the historical burden. What would be the ideal way to organize the
situation? For example, in a logistics case, what would be the optimal
logistics network configuration if the current network could be ignored?
o From this vision, work backwards to develop a reasonable solution that is
somewhere between the current reality and the ideal vision and is possible
to implement.

In terms of analyses as a source of ideas, this topic will be developed further in the next
chapter when different analyses are introduced. Commonly an analysis driven idea
creation process would start by general models such as the value chain model, Porters
Five Forces analysis, the resource-based view analysis or SWOT. From there, the issues
discovered would lead to more specific analyses.

3.7.2.

Checklist for solving cases

Checklists can be found from a variety of sources, including text books. To help the
teams develop their own checklists and to provide a rough checklist, Table 18 contains an
checklist derived from Kari 2001, Shapiro 1988, own experience and discussions with
teams and friends. It splits the case situation into internal, external and interface related
issues. While long, it is still nowhere comprehensive.
Table 18. Checklist for potential issues in cases

Internal
Financial situation

Human resources management

Cash reserves, is there risk of

bankruptcy?
Cash generated by operations, profit
margins
ROA, ROS, NOPLAT, inventory
turnover and other metrics to determine
relative efficiency
Company valuation by stock market,
could it be more valuable without some
elements or with some elements added?
Trends in financial indicators and
comparison to competition
Operations

Capacity, capacity utilization rate, need

for modernization?
Cost structure of operations
Differences between units, factories etc
Working capital tied, delivery times,

Quality of workforce in terms of skills

and motivation
Labor costs
Labor relations, union relations
Labor turnover as indicator of problems
with HR management
Sales / employee and other related
metrics
Organizational structure, does it suit the
operations?

Strategy
Competitive advantage of company
Lacking competencies
Assets that could be used better?
Visions, plans and future prospects
Positioning in the market
71

slack in operations

Quality management systems

Logistics, delivery channel
Value creating and value destroying
operations

R&D activities
Economies of scale and scope

Potential for mergers, buyouts,

divestment, joint ventures, alliances,
networks or other large scope moves?
Strategy making process
Management competency, management
bias, management perception of the
situation?

External
Competitors

Marketplace

Competitor strategies
New entrants, exits, shifts in competitor
focus
Alliance, acquisition, joint venture
potential?
Company performance vs. competiors

Customers

Market growth or decline

Price evolution
Market share of company
Different markets the company is
operating in and their relative sizes
Oligopoly,
monopoly,
perfect
competition?

Macro level issues

Who are the customers, end users and

gatekeepers?

How does the value net look like?

What substitutes and complements

exists?
What value does our offering bring to
the customer?
Consumption pattern changes
Customer segmentation

Demographics and trends in them

Global trends
Legal environment, regulation

Interface
Products and services

Pricing

Positioning of products
Relative attractiveness of products
compared to competition?
Product portfolio, does it fit the
demand? Are there gaps?
Key product characteristics in terms of
order qualifiers and order winners
Cannibalization of own products?
Relationships

In what price level are the products?

Pricing mechanism used
Trends in pricing

External image

Relationships with suppliers, potential

conflicts

Brand value
Advertisement campaigns used, their
72

Supply security

Price paid to suppliers

Potential to expand or contract in value
chain
Position in alliances and networks
Customer relationship management
Stakeholder management
Incentives and benefits offered to
partners

effectiveness
Sources of threat for external image
Pressure from outside groups on
external image

When using checklists, one should keep in mind that typically it is not allowed to bring
any own material to the case solving room in case competitions. Hence all checklists
must be memorized by the team members if they are to be used. Also, just going through
all the questions in a mechanistic way is not only extremely time consuming, but also
does not typically lead into creative solutions. (own experience)

3.7.3.

Idea retention

Almost as important as idea creation is preventing from loosing ideas once they are
created. In the case solving setting, it is possible that a key issue is discovered, briefly
discussed and then forgotten as other important issues surface.
Based on the focus group survey, different methods can be used to ensure that ideas
discovered are retained. Writing all ideas down on a flipchart is the most common
method. Some teams also use checklists again in the end to ensure that all items of the
checklist are included. Also concluding discussions can be used, where the team goes
over the presentation to make sure that all relevant points are really covered in the
presentation.
TIMES 2006 team used the flipchart approach. Alongside the BPARS board on a
separate flipchart was the sketching board, where all ideas were developed. The working
arrangement was such that all three people involved in the analyses were typically
standing next to the flipchart, so that a very small size could be used for the drawings and
text. This enabled the team to keep all items on the same piece of paper, which helped to
prevent any ideas being lost among clutter. There was also a culture of writing down and
visualizing all presented ideas if they were evens somewhat relevant. Of these ideas, not
all entered the BPARS board, but were nonetheless visible during the whole time and
hence were not forgotten.

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4. A winning case solution

Moving on from the preparation process, this chapter examines the output of
the preparation phase. The elements of a winning case solution are covered
in sequential order, and the possibilities with each are explored. The purpose
of this chapter is to give you the tools for cracking the different cases you
will encounter. After reading this you should be able to select and apply the
correct tools as well as develop your own.

4.1. Elements of a case solution

The elements of a case solution seem to be rather uniform when examining the slides of
the Advanced Case-Seminar in Strategy course (performance analysis) and when
interviewing past competition participants (focus group). The proportions of each
element vary between presentations so that some are for example rich on analyses while
the others focus of recommendations. And some presentations leave out some elements.
Table 19 shows the basic elements of a case together with a description of what is
typically included in that element. The items in brackets are typically less frequently
encountered.
Table 19. Typical case solution elements (performance analysis)

Element

Description

Background

Quick overview of the situation and key issues

Problem statement

A definition of what the team sees as the critical problems that

must be addressed

Analysis

Longest part of the presentation. Consists of analyzing the

situation the company is facing in different ways. Can involve
comparison of alternative paths to follow.

Recommendations

The teams opinion on what should be done in terms of strategy,

operations and timing. Can contain timelines.

Financial impact

Calculations of how the company will earn money in the future

with the recommended actions.

Risk analysis

Evaluation of the risks and assumptions of the given solution.

(Backup slides)

Slides the team is not planning to show during the presentation,

but which can be used in the questioning session to prove points.

(Synthesis)

A ending slide which summarizes the key points of the

presentation.

The following sections explain the findings and recommendations relating to each
individual element and the total structure. When reading those, the results of the jury and
74

audience surveys relating to value creation should be kept in mind: the primary
determinants of a good case solution are the quality of recommendations and the
robustness of analyses. Other elements add value, but are not as crucial. (wider audience
questionnaire)

4.2. Structure of a case solution

Be explicit on your structure and storyline. Also, make sure the slides shown are
linked with a good logic. This shouldn't be a detective novel where you keep the
jury guessing for what is coming next. -Juror (jury survey)
The quote above makes an important point about structure: first and foremost it should be
clear. The jury had not been present while you prepared your solution, so the only way
they can determine what and how you analyzed is through the presentation. If the
structure is unconnected and unclear, they might be compelled to think that the same
holds true for the presentation as well. The importance of a good structure is also
recognized by the focus group.
In structure, there are two important dimensions: the structure as seen by the jury, and the
structure as something familiar to the team. A clear structure seen by the jury enables
higher points for the particular solution, and a structure clear to the team helps to ensure
good solutions across cases.

4.2.1.

Structure within a case

Generally speaking, most structures used seem to follow the Situation-ComplicationResolution framework to some degree. With this framework the idea is to start by
explaining the basics of the situation and the background, then explain the challenges
faced by the company, and proceeding by explaining how those challenges can be
tackled. This is a very high level framework, and the ways it is applied to case solving
differ. The majority of differences occur in the Resolution phase.
Some different structures together with comments from the jury on their suitability are
given below. Each solution structure begins with the introduction, which is typically a
recount of the important case issues. There is a preference by the audience for the
presentation to start with simple rather than complicated topics (wider audience
questionnaire).

Intro - Analysis - Recommendation

o Traditional approach to solving cases. This is recommended by one jury as
a safe bet fitting all cases and audiences

Intro - Alternatives - Analysis Recommendation

o This is suitable when the case clearly indicates two or more different
alternatives that do not have to be developed by the case team and do not
merit being challenged.

Intro - Analysis - Alternatives Recommendation

75

o A very throughout analysis method, which according to one jury leaves

no stones unturned. The alternatives are developed after the relevant issues
are analyzed to ensure that they are relevant.
o This is the stereotypical academic approach kind of solution.

Intro - Recommendation - Analysis/Backing up recommendation

o A presentation with an inverse structure. Recommended by most academic
and business background judges.
o Typical consultant approach to start with recommendation, and then
back it up. Doesn't work if the recommendation is very controversial, as
then you typically would have to build the case first. Also some audiences
may not be used to this kind of straight-to-the-point presentation style, so
it is a bit risky. However, can be very powerful if the recommendation is
solid. Jury survey respondent

From the above structures, it is evident that there are two important choices to make:
whether to include extensive analysis of alternatives and whether to start with the
recommendation or the analyses. Both are issues that depend on the case as well as the
solution style of the team.
The TIMES 2006 team would typically consider alternatives only in individual analyses
and not on the solution level. The rationale for this is that since a typical case
recommendation has many different degrees of freedom, it is almost impossible to
capture them all with alternatives as the number of alternatives quickly becomes
unmanageable. On the other hand, it is intellectual not honest to show just some
alternatives from the set of possibilities, as this decision would have to be backed up by
analyzing all the unpicked alternatives. Hence the consideration of alternatives was
typically done only in individual analyses.
A variation of this is the sloppy tree analysis framework invented by the team in one of
the case solving sessions. In this analysis framework, the degrees of freedom (in this case
plant type, plant location and plant operating style) were ordered in a sequential fashion,
and the choice in each dimension was done independently and only the chosen strategic
option was then investigated in more depth.
Having the recommendations in the beginning is something that the TIMES 2006 team
never tried. It was felt that providing them in the start without justification would cause
too much chaos as the jury would feel them coming out of the blue. Also by saving them
later the connection between analyses and recommendations could be made more
explicit, so that is was evident that the solution was based on the facts instead of the fats
being twisted to fit the solution.

4.2.2.

Structure across cases

Next we move from single-case structure to the consistency of structure across cases.
Based on the focus group survey, five of the nine groups had a consistent structure across
cases. The degree of rigidness varies somewhat, but typically the structure defines the
ordering of the main elements. The structures used by different teams also tend to be
rather similar, as there are some de facto standards in solving cases that have emerged.
76

Having a consistent structure across cases helps the team in streamlining their case
solving process. This is for several reasons:

Each team member knows what will be included and where, no time is spent
arguing these issues

The visual style of each element can be optimized

The presentation flow is similar, making transitions and other presenting easier

Feedback received can be linked to the structure, so that the structure can be
improved across cases: We could have done this vs. Our structure can be
improved like this.

On the other hand, a too strong structure can damage the teams performance if it does
not suit a particular case.

4.3. Background analysis

The purpose of a background analysis is to establish the situation the firm is
experiencing. This is accomplished by performing quick analyses to different aspects and
from them identifying the most important. The output of this element is recognition of a
set of key issues that can then be formulated problem statement.
Typically a background analysis is carried out in about two or three slides, and
consequently lasts no more than 20% of the presentation time. It is used to show what it
is that your team understands the case is about and to prove that your point of view and
hence the whole later presentation is relevant and addresses the right issues.
Based on the performance analysis, it is best to keep the background slide count at 1 or 2
slides. More slides seem to cause lower points, most likely as they take time away from
more important issues. Only the most important issues should be included (Backholm
2000).
A good background analysis has to balance between being comprehensive and to the
point; and between focusing too much on the case facts and going too deep into analysis.
The first tradeoff means that one should keep in mind and also present the total picture
all the challenges and issues in the internal situation and the external environment while
at the same time recognizing that only some of them are actually crucial.
To balance, a good case solution should not ignore any of the areas while at the same
time boldly focus on the ones that actually are important. This means that while your
team is internally analyzing and discussing each aspect of the case, your actual
presentation focuses on just the important ones.
The second tradeoff is between presenting case facts and analysis. As a good guideline,
one should never repeat the facts in the case you can assume that the jury already
knows them. However, repetition is possible and even beneficial when the facts are
grouped, visualized or analyzed in an interesting new way. However, if the first content
slide you present already has a full-fledged complicated numerical analysis, the audience
will most likely feel a bit overwhelmed. The more hardcore analyses are best saved for
later slides.
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Background analysis slides typically end with the problem statement slide that should
somehow show the connection between the key issues found and the problem statement.
For example, the identified issues could be shown with arrows connecting them to the
problem statement.

4.4. Problem statement

The purpose of the problem statement is to formulate what you consider to be the key
problem of the case, and consequently what your case solution will focus on. Based on
the performance analysis, a problem statement is almost always included in a
presentation.
How then is a problem statement formulated? Taking a look at the literature one can find
a variety of checklists or characteristics used to determine how a good problem solution
should look like.
Firstly, McKinsey & Company uses the following characteristics to determine a good
problem statement (Kari 2001):
1. It is a thought-provoking question, not a fact or assertion
2. It is specific, not general
3. It is actionable, not academic
4. It is focused
A similar definition is given by Hayward-Farmer (1979), who states that the problem
statement should be
1. Written explicitly
2. Clear, concise, specific and unambiguous
3. Broad enough to not unduly limit following analyses
4. Updated as your analysis progresses
5. Include all problems faced and not just focus on one
Corey (1999) emphasizes that a problem statement should be used, updated and relevant,
not just an empty statement. It is important as it determines the direction taken by the
solution process. Ideally they define where the problem really is, and prevent from doing
analyses for analyses sake (Hammond 1987).
Even though the literature places much emphasis on the precise wording of the problem
statement, the wider audience questionnaire results present a different picture. According
to the audience members, the exact wording of the problem statement is not very
important. Additionally they consider that the teams do not greatly differ on this
dimension, which suggests that a problem statement is not a large value driver.
My own experience supports these conclusions. I think a problem statement is more a
hygiene factor than a truly value adding element. If it is completely wrong, for example
ignores the most important issue of the case which is also ignored later in the solution,

78

then the error is likely to cause a lot of damage. However, if it is somewhat relevant, the
exact wording is not too relevant to the judges.
To conclude, I would assert that problem definitions are important to the internal
guidance of the team, but effort should not be wasted to excessively polish them.

4.4.1.

Thesis in place of a problem statement

Sometimes a problem statement could be replaced by a thesis, claim or recommendation

in the beginning. For example, instead of writing What can company X do in terms of
marketing and R&D to increase sales the beginning could have the thesis Company X
should move o direct sales and outsource R&D in order to increase sales. This suits the
recommendation-first structure the best. It is also in line with the TRAIN-framework
presented later in connection with slide design.
The problem with this approach is that the audience might wish to challenge to thesis,
and since no data or analysis is presented previously, they might feel that it is far fetched
or wrong, and consequently not listen objectively to the arguments.

4.5. Analysis frameworks

An analysis framework is the flow of your presentation, the connecting logic between the
individual analyses. The purpose of an analysis framework is to organize the different
messages into a coherent storyline that is easy for the audience to follow. Based on the
performance analysis and own experience, analysis frameworks are typically not used.
For example, in the ACS course 2005 and 2006, only 21% of the presentations used an
identifiable framework (performance analysis).
However, the value of analysis frameworks is supported by the performance analysis,
where the best third of presentation are twice as likely to contain a custom analysis
framework as the worst third. Textbook analysis frameworks, such as using 4P across the
whole presentation, do not seem to add value based on the performance analysis. This
could be due to the limited nature of textbook analyses, as based on the study the best
results come when the analyses are comprehensive and include internal, external and
competitor analysis.
The value of an analysis framework is also supported by the wider audience
questionnaire, where respondents consider it an important aspect of a presentation. Also
three of the five the jury members surveyed consider an analysis framework to be a key
requirement for a winning solution.
Based on the lack of usage in general audiences and the value associated with it by the
jury, an analysis framework seems as a potent way to increase the value of the
presentation. Hence your team should consider investing solving time into devising a
suitable analysis framework for each case.

4.5.1.

Different analysis frameworks

Table 20 lists some analysis frameworks identified from different sources. The purpose
of this table is to give an overview of possibilities to use for structuring your presentation.

79

Table 20. Selected analysis frameworks

Name

Description

Textbook models
(performance analysis)

Textbook models mean models such as 4P, SWOT, Value

chain and so on. Using these as an analysis framework
means that the whole solution consists of detailed analyses
on each issue. For example, using 4P as an analysis
framework means that the analyses are structured around
product, place, price and promotion. Beware: Textbook
analyses are usually too general, and it can be hard to find
a suitable one. Do not seem to add value based on
performance analysis.

RBV/VRIOS (performance
analysis)

Using RBV as the analysis framework means sequentially

analyzing the resources that the company possesses and
then seeking out how they could best be utilized. Beware:
It is a rather rigid and very theoretical framework, so it
might not be best suited for case solutions.

Decision tree (focus group,

jury survey)

Using a decision tree as an overall framework means first

presenting the different options in a summary slide, and
analyzing each branch or leaf in a separate analysis. Very
effective, but some problems can no be organized as trees.

Sloppy tree (focus group,

own experience)

A decision tree where the tree is deepened only for those

branches that seem feasible based on previous analysis,
and consequently the tree is expanded only partially. This
structure supports problems in which choices in one
degree of freedom affect others.

Hypothesis driven (focus

group, Kari 2001)

A hypothesis driven approach starts with presenting a

solution claim such as An upmarket strategy is the most
viable option and then outlining all the things that must
be proved to prove the claim: alternative segments are less
attractive, strategy can be implemented, company can
capture the segment, segment is sustainable, positioning
aligns with corporate level goals and so on. Each claim is
analyzed and proven true, from which follows that the
claim should be true.

Alternative comparison
Kari 2001, jury survey)

An alternative comparison analysis framework first

creates the alternatives, then the relevant dimensions of
analysis and finally analyses each alternative on each
dimension. A visual tool to use for this is the folding
matrix structure (Kari 2001).

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Analogy

Using an analogy as an overall framework means

developing some metaphor of the situation. For example,
one could present the company as a sail ship on the ocean,
and represent positioning as the direction for the ship,
strategic actions as sails, and the HR issues as the crew
and so on. Comment. SS Strategy sail ship analogy was
prepared, but never used by the TIMES 2006 team.

Custom

A custom framework can be almost anything. At its

simplest, it could be a visual depiction of the different
problem areas similar to an analogy. It could also be an
illustration of the activities of the company or something
else. Comment: Quite often the analysis framework used
by the TIMES 2006 teams ended up being custom as none
of the others would fit. In any case, some framework was
always attempted to be included.

The analogies and custom frameworks in the table above ended up being used most by
the TIMES 2006 team. When using them, it is important to communicate to the jury how
the framework works and how it will be explained. A good way to communicate
frameworks is to use structuring slides in the analysis section. Quite often the TIMES
2006 team would show the same framework slide between each analysis to ensure that
the jury knows what is being discussed. Often a separate slide was superimposed on top
of the basic framework slide. The separate slide could contain a circle highlighting the
area of the framework being analyzed next.

4.6. Analyses
While the structuring of the overall solution is important, also the robustness of
individual analyses plays a great role. What then is an analysis in a case competition?
Given the time limits for case solving in TIMES, there really is not room for
formal analysis or use of analytical tools. The problems are identified and
solutions developed best by leveraging the intuition and understanding of the
group members in brainstorming discussion. The analytical tools are actually
only tools for presenting your rationale. Significantly longer competitions are
another story and require different kind of preparation. Focus group member
The quote above reflects, in my opinion, the essence of what an analysis is. It is a way to
bring together information in a new way that provides insight. It is not an exercise in
higher mathematics or complicated logic, or something complicated done just for the
sake of appearing complex (focus group). An analysis should never be done just for the
sake of analyses (jury survey).
From this it follows that rarely an analysis provides an answer. Even when a prescriptive
framework is used, such as the BCG matrix that gives recommendations on what to do
with different SBUs, the actual source of insight is the performer of the analysis rather
than the framework itself. The selection of axes and the selection to use the framework
81

are done by the analyzer, not by the framework. Descriptive frameworks such as SWOT
are even more just tools to synthesize thinking.
An analysis is thus not a pure instrument of rational thought - the value of an analysis
lays in the following (own experience):

Ensures completeness
o All issues relating to the question are considered. For example Porters
Five Forces framework ensures that all important issues relating to the
market attractiveness are considered.

Ensures relevance
o Only ideas related to the issue are considered in that particular setting.
Helps to extract important issues from the sea of facts.

Brings structure
o Shows how the elements are related to each other. For example, ideally a
SWOT analysis would enable to see how the Threats of the environment
are related to the Weaknesses of the organization for example.

Enables communication
o Using a framework enables the presenter to show the logic of his or her
story in a way that is easy for the jury to understand.

The items above can be used as a checklist against which to judge a particular analysis
devised by the team.

4.6.1.

Textbook and custom analyses

A frequently occurring debate is whether to prefer textbook analyses or custom made

analyses. Both have their merits and problems.
Based on the performance analysis, better teams tend to use less textbook analyses and
more custom ones. The jurors surveyed also agree with this view, stating that textbook
analyses should not be unnecessarily used when they do not help to solve a particular
problem. The value of textbook analyses is that they are easy to understand and grasp
quickly. Since the jury must understand each message, an analysis must be easily
comprehendible (focus group).
Overall, the frameworks used shouldn't be too complex in a case competition
meaning that they should be rather self-explanatory when put on a slide.
Therefore, it's not a bad idea to use recognizable basic frameworks like SWOT,
Porter, GE/McKinsey matrix - depending of course on the type of problem at
hand. Keep it relatively simple. The best thing is if a team comes up with a
creative analysis of their own that is relevant and specific to the problem at
hand and is easy to explain (so called killer analysis). -Juror (jury survey)

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4.6.2.

Examples of analyses

Table 21 shows a quick list of selected analyses compiled from the performance analysis,
literature review, own experience and focus group survey. Its purpose is to present a
quick alphabetical list of analyses one will typically encounter in case solutions.
Table 21. Selected analysis models and explanations (based on own experience).1

Name

Brief description

4P

Product, Price, Place, Promotion. A tool for analyzing the marketing

mix of a product or service. Used in planning new products marketing
or analyzing existing marketing. Good: Widely known, easy to
understand. Beware: Ignores some key areas of marketing and is
very simplistic. Does often not really offer insight.

5 Forces

The entry of competitors, the threat of substitutes, the bargaining

power of buyers, the bargaining power of suppliers and the rivalry
among the existing players. Used to analyze the characteristics and
especially profit potential of an industry. Can be used in conjunction
with SCP to analyze the S-component. Good: Very widely known
way to analyze the industry. Beware: Do not make this a laundry list
of important aspect. Also keep in mind that it is an industry, not a
company level analysis.

Alternative
comparison

Different ways to do:

Benefits and disadvantages of each alternatives

Points given to each alternative on a set of dimensions

Points given, and then weighted to get a total score

Positioning of alternatives on some matrix or graph, for

example feasibility and impact of a strategic option

Good: Shows different alternatives have been considered and

relevant aspects have been taken into account. Beware: Keep
relatively simple and only include relevant alternatives and
dimensions. Comment: TIMES 2006 team used the as simple as
possible approach in comparison. +/- analyses and matrices were
preferred over more complicated point allocation schemes.
BCG Matrix

Analyzing strategic business units (SBU) in terms of the growth of

the industry and their market share. Good: Immediately recognized
and easy to understand. Beware: Theoretical basis questionable.
Often misapplied to products or other items. Ignores connections
between SBUs.

For a comprehensive and insightful overview

http://www.valuebasedmanagement.net website.

of

different

usable

models,

visit

83

the

Causal network

Mapping of different issues in terms of what causes them and what

they cause, with the aim of discovering root causes as well as selfreinforcing loops (virtuous / vicious cycles). Good: A good way to
synthesize a lot of issues in a way which adds value. Beware: Can be
hard to draw and explain if too detailed. Comment: Used by the
TIMES 2006 team in some cases as background analysis.

Game Theory

Studying industry situation in terms of a sequence of competitive

moves done by the competitors. Analyses how the situation will turn
out in terms of payoff for each participant. Good: Works in uncertain
situations and takes into account competition reactions, which are
often forgotten. Beware: Can be complicated and add only little
value once explained. Also requires expertise by the performer of the
analysis.

Logic tree

A tree where the issues are divided further in a treelike fashion. Each
subtree ideally consists of items that are mutually exclusive and
collectively exhaustive (MECE). Identified issues can then be tackled
in an orderly way. Good: Shows that solution is complete and allows
for the creation of alternatives. Beware: Can grow extremely large
and confusing. Focus on important issues. Comment: Used and
favored by some consulting companies.

PESTEL

Political, Economic, Socio-cultural, Technological, Environmental

and Legal. This framework is used to understand the different
environment forces (both current and trends) affecting the focal
industry. Good: A comprehensive list of environmental forces.
Beware: Not widely known. User must focus on including only
relevant issues relating to each item. Comments: Can be a viable
option when looking for a way to summarize changes in the
environment.

RBV VRIOS

Resource-based view strategic analysis. Value, Rareness,

Inimitability, Organization, Sustainability. Look at the resources of
the company and how they are able to create value. Good: In touch
with current leading-edge strategy theory. Beware: Highly
theoretical, and often hard to carry out in practice. Comments: Used
as an analysis framework in all cases solved by one ACS 2005 team
with varying success.

Real
options/decision
tree

Consideration of payoff in a tree with different probabilities of and

choices done at each branch. Used to calculate the NPV of different
options in situations with uncertainty. Good: Theoretically sound and
visually appealing. Can be used to evaluate alternatives. Beware: Do
not make numbers and calculations too complicated so that a clear
message is communicated.

84

S-C-P

Structure-Conduct-Performance, a model for looking at how changes

in the industry structure cause changes in the typical fir conduct, and
how these are reflected in performance. Can be used to predict how
external shocks affecting structure will affect the performance of
companies. Good: A clear way to organize historical changes as well
as future events. Beware: Remember to show implications as well,
not just illustrate theoretical issues. Non-visual and heavy, so maybe
not suitable for background analysis.

SWOT

Strengths, Weaknesses, Opportunities and Threats. Analysis of the

internal and external situation. Good: Typically well-known by the
audience and simple to construct. Beware: Three out of five jury
members caution against relying on this framework. Often too
simplistic and does not give clear implications, used only as a list of
issues rather than a value-adding analysis. Comments: Never used by
the TIMES 2006 team due to the perceived lack of relevance and the
fact that it is too general.

Value chain
(company)

A company level value chain analyses primary activities and support

activities of a firm to see where value is created and where lost.
Good: Gives a good understanding of the operations of the company.
Beware: Often mixed with the industry level value chain, so be
explicit what is being analyzed.

Value chain
(industry)

Mapping out the creation of value as a series of steps conducted by

the same company or its suppliers and customers. Can be used to
analyze the structure of the value creation to the customer. Good:
Provides a good look at the potential to change the value creating
system. Well known. Beware: Often used in a way that does not add
value. Comment: Creative misapplication of this framework was
applied numerous times, for example in analyzing the position of the
Brazilian economy in the TIMES 2006 finals.

4.6.3.

Analysis of different models

To move one step further from simply listing analyses and giving advice based on own
feelings, the wider audience survey attempted to study how each type of analysis is
received by the audience.
The original findings on ease of understanding and usefulness were given in Figure 22.
Figure 28 contains the same data with a cluster analysis.

85

4.2

Symbol Description
VC

SWOT
5F
BCG
VC
RBV
A:wp
A:p
A:+/ A:cust

A:cust
F:scp
C:offer

3.8

F:p
risk

B
tree 5F

Usefulness

RBV
3.4

A:wp

C:figure

SWOT

A:+ / -

C:offer
C:figure
4P
tree
risk
F:p

A:p
BCG
4P

F:scp

3.0
F:q

Known by > 95%

Known by 75-95%
Known by < 75%

F:q
2.6
3.2

3.6

4.0

SWOT-analysis
Porter's Five forces analysis
BCG matrix
Value chain analysis
Resource-based view: Sources of competitive advantage
Alternative comparison: weighted points given
Alternative comparison: points given
Alternative comparison: + / - given
Alternative comparison: matrix/ graph showing the
positions in space
Competitor analysis in terms of offering characteristics
Competitor analysis in terms of key figure comparison
4P (Product, Place, Promotion, Price) model
Analysis using a tree model
Risk analysis in terms of severity x probability
Financial analysis: calculations of profit or additional
cash flow only
Financial analysis: detailed analysis of sales,
costs and profit
Financial analysis: only qualitative estimates

4.4

4.8

Circle area represents how often encountered

Ease of understanding

Figure 28. Grouping of different models

The clustering of the analyses supports a rough division of the different analyses into four
clusters:

A Advanced analysis
o Advanced analysis is hard to present, but at its best can deliver lots of
value. An alternative analysis with a matrix showing the position of
alternatives in space (an example is the figure above!) is typically hard to
present, but when properly done proves to the jury that the team has an
deep understanding of the situation.
o This kind of analyses should be limited in number, as there is limited time
and understanding capacity of the jury. Only most critical areas deserve
throughout explanations.

B Basic analysis
o These are the average analyses that likely form the backbone of a solution.
Cover moderately complicated topics with sufficient depth. Basic financial
analysis and risk analysis are often considered a must to have, but can be
explained rather easily.
o Typically forms the backbone of a presentation, and should be the default
style for most issues unless they deserve more deep treatment.

C Cursory analysis
o This kind of analysis is easy and fast to grasp, but does no really add lots
of value to the solution.

86

o You could find this kind of analysis in the beginning of the presentation.
For example, a + / - analysis of alternatives could be done in the beginning
to determine which alternative deserves the attention of the latter part of
the presentation.

D Value destroyers
o These analyses are Pareto-inefficient to other types of analyses. They are
average in complexity, but after explaining the message to the jury the end
result is not that value adding.
o A comparison of competitors in terms of financial ratios is a typical
analysis not adding value: competitor X had more sales last year than
we rarely merits its own slide as the information is directly from the case.

The clustering above is based on visual comparison and the opinion of the general crowd
rather than jurors, so it should be treated with caution. Nonetheless, the basic idea of
value versus complexity should be kept in mind when creating the analyses needed to
support each idea.
The general suitability index given in Figure 21 should be treated with caution. It is more
a metric of familiarity to the general audience than a good guide for scoring different
models.
The design of an effective analysis is explored in more depth later, but the key finding
based on the performance analysis is that the implications of the analysis should be made
explicit on the same slide as the analysis results rather than later as separate
recommendation slides.

4.6.4.

Numerical analysis

Meister (1985) has provided advice on how to perform numerical analysis. The key idea
is to proceed in a systematical way, and remember the following issues:

When calculating, write down all steps so that the calculation can be later checked
and you remember the logic of the analysis and the meaning of each number

Check that units match in the end

Perform feasibility checks in the end.

o This point is supported by the jury survey, where one juror pointed out the
fact that the end financial recommendations should always be checked for
implications. For example, how many customers per day would be needed
to fill the sales goal?

Remember the difference between stocks and flows.

When presenting numerical analysis, it is important to keep in mind the following issues:

Make sure your numbers tell a story or give a message. No numbers for numbers
sake.

Analyze what the results mean. Is 10% ROI good, bad or average?

87

4.6.5.

Show only important steps

Analysis of alternatives

Among with financial analysis, the need for explicitly analyse alternative solutions is
something debated quite a lot, as identified in discussions with team and friends. The
analysis of alternatives seems to something considered very important by some jurors,
but very hard to implement in a good story flow by the teams.
Analysing the evidence, comparing alternatives brings slighlty higher score (performance
analysis). It is also recommended by some members of the focus group and jury. Based
on this, one should thrive to include alternative comparison, if it is feasible given the
case.

4.7. Recommendation
The quality of the end recommendation is the most important determinant of the overall
points given to the solution. The number of recommendation slides correlates the most
negatively with the overall score. There is a clear paradox here: how can
recommendations be valued so highly if their amount correlates negatively?
The answer is that a lenghty recommendation section in the end is a symptom of lacking
connection between analyses and recommendations. The wider audience survey confirms
this: based on the results about 70% the audience wishes to see recommendations given
along the way as implications. A separate recommendation section as the sole place for
recommendations is only preferred by 19% of respondents.

4.7.1.

Charasteristics of a good recommendation

How then should the recommendation section look like? Let us start by defining this
charasteristics of a good recommendation. When the jurors were asked to define a good
recommendation, the following key words were encountered: takes into account all
issues, implementable, relevant, well argumented, strategically sound, practical,
actionable, logically derived, backed by facts and numbers, takes into consideration the
external environment (jury survey).
To make a more clear list of requirement, the summary given by Kari (2001) was
enhanced with findings from other literature sources and this study, and presented in
Table 22.

88

Table 22. Basic requirements of a good case solution (adapted from Kari 2001 and enhanced with study
findings)

Requirement

Explanation

Solid and
understandable
reasoning

Facts or reasonable assumptions used. A logic chain with no gaps

and no overlaps, good structure and presented clearly and
understandably. All recommended actions are traceable to analysis
and do not come out of the blue (focus group, jury survey).

Compact form

Little repetition of known facts unless reworked. No over-proving,

focus on key issues only.

Identification of all Demonstrated awareness of all key issues and their importance,
unimportant issues not focused on in the recommendation (focus
key issues
group).
Recommendation is feasible to implement in the era of the case.
Considering in
which point of time No hindsight is used either: for example Sell companys
the case is situated investments in high-tech companies on March 9, 2000 (1 day
before dot-com bubble burst).
One final solution
instead of many
alternatives

Tangible clear recommendation on what to do instead of leaving

the solution at a maybe this, maybe that level. The need for a
single answer is also emphasized by Backholm (2000).

Feasible

It is possible for the company to do the recommended actions

considering for example its resources and time compression
diseconomies. Sanity check is important (jury survey)

Actionable and
implementable

The recommendation can be acted on and provides at least some

guidance on how to implement it. For example, the
recommendation to improve operations does not provide clear
guidance on how exactly to do this. Another common
recommendation to partner with X usually also lacks clear
advice on how exactly the partnering should be done, and why
would X accept it. Timelines can be a valuable tool, but they are
often used without thinking deeply enough (jury survey)

Sustainable

The recommended actions make sense in the long term beyond just
addressing the immediate short term concerns.

Quantified

The recommendation is backed up with supporting numbers

showing that implementing it makes financial sense. Also the
measurement of success could be included, for example financial
milestones set (Backholm 2000)

89

4.7.2.

Presenting a recommendation

The presentation of a recommendation is very important. As explained before, the best

practice in this area seems to be to first develop the recommendations through the
implications of the analyses, and then collect it together in the end.
How can the end summary then best add value? Several tools can be used to achieve this:

Action timelines
o The idea here is to show how each of the recommended actions should be
paced out in space. How long each will take and what will be the order of
actions. Typically structured as a Gantt chart with an approximate timeline
below in months or years.
o According to one jury member, very valuable tool that is often applied too
shallowly, without thinking and explaining the individual actions. (jury
survey)

Short-term and long-term division

o Separating the proposed actions into short term immediate actions and
more long-term strategic moves. Can be useful when case is set in a crisis
situation, where the immediate threat must be clearly addressed without
forgetting the longer term wellbeing of the company.

Combining actions into initiatives

o Instead of listing all actions to be done as separate items, the team can
group them as strategic initiatives or programs. For example, the different
ways to increase marketing can be called Customer oriented marketing
initiative and later broken down to components. The value of this is that
it structures the solution and allows the jury to see the big picture.

Showing the problem definition or key issues together with recommendation

o This visual method allows you to make sure that all identified issues are
tackled and the jury can see this in a clear way.

What ever methods are used, it is important that the jury can understand clearly what the
recommendation is and is not left guessing. The recommendations should focus on
implementation as well as overall strategic direction. It is hard to strike a balance
between being too specific and too broad.

4.8. Risks
After the recommendation is shown, teams typically address the risks inherent in their
solution. Based on the performance analysis, an ideal risk analysis is brief and relevant
rather than long and comprehensive. The wider audience questionnaire indicates that at
least some kind of risk analysis should be present. Surprisingly, the best third of teams
seem to use less and more simple risk analysis (performance analysis).
The basic format for a risk analysis is a matrix where one dimension shows the likelihood
and the other dimension the impact of each risk factor. This is used in 77% of the ACS
90

2005 and ACS 2006 presentations, and also preferred by the teams (performance
analysis, wider audience questionnaire, focus group).
Showing counter-actions to risks is somewhat controversial. The focus group survey
shows that this is preferred by the teams, and my own experience would also tend to
agree with this. However when looking at the performance analysis results, it seems that
the best teams use somewhat less counter-action specification and overall the
specification of risks correlates negatively with the grade received.
The jury members interviewed suggest that the risk analysis should be linked to the
assumptions done while preparing the solution, and show how sensitive the solution is to
these assumptions. At their current state (likelihood x impact, simple counter actions)
they have plenty of room for improvement: they are often mechanistic and do not show
real impact on financials (jury survey).
All in all this seems to indicate that there is some room for improvement in showing
risks. The current method of showing likelihood, impact and counter actions seems to be
merely used to show that the risks were considered, but doesnt really add value to the
solution. What would be a better way to do this that question is left for your team to
answer!

4.9. Financial implications

Financial aspects form the crucial backbone of a coherent solution. Financial
implications explain the "so what" of the proposed solution. (jury survey)
Financial implications are another source of debate. Some teams consider the inclusion of
numbers which are not 100% accurate and based on heavy assumptions to be almost
pointless, and consequently either do not include the financial implications at all, or
include only simple qualitative analysis that is made more to satisfy the requirement to
have financials than to actually analyze the impact of the recommendation.
However, as the quote above and other comments by the jury show, they are valued by
the jury. Sometimes the solution proposed makes no sense in light of the numbers, for
example the ROI of the proposed actions is extremely low or even negative. Spotting the
financial implications can separate the winning team from the rest.
Also the wider audience questionnaire indicated a need for including financial analysis,
as long as it is not too complicated or too simple. The need to avoid too complicated
analysis is also emphasized by some respondents of the focus group. Based on these
comments and the performance analysis, the best financial analyses seem to be focused
on profit calculations as opposed to both simple qualitative or complex cost and sales
estimations.

4.9.1.

Performing financial analysis

The first advice is to not to keep the financials as a separate end section with no
interlocks to the recommendations or analyses. Ideally, the profit potential should be an
important factor in determining how the problems are addressed by the recommendation,
and hence financial considerations should be considered also in earlier analyses to find
where the money can be made (jury survey).
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When calculating, it is OK to make assumptions as long as they are visible and

reasonable (focus group, jury survey, Corey 1999). The assumptions help in determining
the magnitude of the financial implications, which is more important than getting the
exact decimals correct. Pallet (1992) also recommends screening the case throughout for
figures that could help, for example numbers from comparable industries.

4.10. Synthesis
A synthesis is something rarely seen in case solutions, but something that one juror
recommends. It is ideally a creative summary of the findings (jury survey). The TIMES
2006 team tried to include a synthesis in each presentation, which typically included the
three most important strategic initiatives proposed. The synthesis was visual and kept as
simple as possible.
The reason for having this as the last slide was to create a lasting impression to the jury.
It is important that the jury remembers the key points of the solution so that it can
differentiate from the others shown on the same day.

4.11. Backup slides

Backup slides are slides that the team thinks should not be included in the actual
presentation, but rather kept as backup in case the jury asks questions related to a
particular area. A typical example of a backup slide is detailed financial calculations, as
the focus group members felt that this is a good place to include them (focus group).
On the other hand, creating slides that do not have an important enough message to be
included in the presentation seems like a waste of time and effort (focus group). Based on
my own experience, I agree with this view.

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5. Effective presentations
The ideas created in the previous sections will not take you far unless the
presentation of them is clear. This chapter covers the basics of effective case
solution presentations in terms of slide design and delivering the
presentation.

5.1. Slide design

5.1.1.

Appearance

Based on the wider audience questionnaire, a uniform appearance of all slides is a desired
quality. To achieve this, some of the teams interviewed used a single person responsible
for drawing all slides. However, as this imposes demands for the solution process, some
teams opt for leaving the slide design to the performer of the analysis.
In this case, uniformity of appearance can be achieved by standardizing the elements of
the slide via agreement. For example, the teams can use the template slide method
presented by Kari (2001), where a single slide is taped to the overhead projector in the
beginning. The template slide contains all the stable elements of the slides, such as
borders, tickers and decorations. Actual content slides are then superimposed on this
template slide. Another method is to agree among the team on strict design guidelines.
When doing slides, some points should be kept in mind:

Landscape seems to be the de facto standard in preparing slides (Kari 2001). This
is likely a product of computer assisted presentations. When preparing a
landscape slide, ensure that the width is not too large for the particular overhead
projector being used when this happens it has the potential to destroy the whole
flow of the presentation (Kari 2001).

Remember to use a large font in all exhibits. The jury often sits far from the
projection surface and any text not seen is lost.

Sketch first, prepare slides later. Usually the slides are done with permanent
markers, so any mistakes must be crossed out rather than erased. A large number
of mistakes gives a very unprofessional impression.

5.1.2.

Titles

Titles of slides are one area where the current practices are widespread yet the jury
opinion is clear. What this means is that there is lots of potential value to be created in
this area.
The jury and audience have a preference for claim titles. The performance analysis does
not show a clear connection between claim titles and points, but does indicate that
question titles should not be used.

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The effectiveness of claim titles is that they make the people focus on the right issues.
When you present a slide with sales data and title it Sales 1990-2000 the people will
look at the data and agree that it is about the sales, and then look at whatever issue they
first notice about the data. Then they look at the second issue they can think of and so
own, while at the same time listening half-heartedly to your presentation.
When a claim title is used, for example Sales fluctuate with time of year the audience
will focus on judging if the claim is supported by the evidence. This way they will be
inclined to follow your presentation.
The TIMES 2006 team used claim titles for all slides were it was feasible. Some slides,
such as the agenda slide or action plan slide, do not present claims or contain
implications, and thus a claim title is unnecessary. A claim title also has an effect of

5.1.3.

Content

Based on the competing teams opinions, the ideal in content should be to minimize the
amount of content per slide (wider audience questionnaire, focus group). The jury
members agree with this, recommending that one point per slide should be the guiding
principle (jury survey).
The content on the slides should be predominantly data to score high points (performance
analysis), and text should be avoided (wider audience questionnaire). In practice this
means that and ideal slide contains a simple exhibit with supporting title and
implications, and little more.
Slides containing bullet points typically distract from the presentation. Since the
presentation is oral, any bullet point text can just as easily be delivered orally, and the
slideware used to present supporting evidence.

5.1.4.

Implications

The biggest value driver for presentations is the fraction of slides containing implications
(performance analysis), and their use is also recommended by the general audience
(wider audience questionnaire). An implication means that the slide has a point
answering to the question so what? somewhere in the slide, typically in the bottom.
The implication can also be thought to conform to the pattern Since [slide title] as
proven by [content], it follows that [implication]. For example Since sales fluctuate
with time of year as proven by the sales data graph, it follows that the resources of the
company should be made flexible to accommodate this. This pattern is identical to the
one used in the BPARS method.

5.1.5.

TRAIN-principle

The TRAIN-principle is a method known with many different names: target-based

presentations, persuasive argumentation and so on. The basic idea of the framework is to
provide a tool for communicating ideas in a way that strikes a balance between being too
informative and too argumentative. It encapsulates the ideas of slide content, slide title
and implications brought forward above.

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A TRAIN-based presentation is based on a fractal structure, where the main structure is

repeated in the individual sections and slides.

Main statement

Main evidence
o Sub-statement 1

Evidence

Sub-sub-statement if necessary

Sub-implications

o Sub-statement 2

o Sub statement N

Main implications

A quick summary of the phases of the TRAIN-method is presented by Table 23.

Table 23. TRAIN-phases

Name

Description

Examples

Statement

Make a logical and non-aggressive Current strategy misses the

statement in this phase. Vocabulary
profitable high-end segment

Evidence

Provide evidence to support the -Segment is profitable

statement. Evidence can be data,
-Segment needs are not met
logical argumentation, quotes and so
-Targeting segment would not
on.
harm sales in other segments

Implications

What follows from the statement if it Company X should launch a

is true? This is usually action- high-end strategy
oriented and contains words such as
should and must.

The idea is to think in terms of persuasive logical arguments. They begin with a statement
that can be proven as true on untrue, but does not make claims about what should be done
or not done. In this way the jury (or company board of directors in a real setting) know
what is about to be shown next, but are not prone to listen in a challenging way as the
statement is more in the intellectual domain than political domain. The problem statement
or main thesis in a presentation typically fills this role.
The purpose of the evidence is to provide all necessary proof to prove the statement true.
In a case solution, this proof would typically be the individual analyses done.

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Since the statement was supported by evidence, the next step of showing the implications
to the audience can take the message from the intellectual zone to the action-oriented
zone. In a case solution, this phase is typically the concrete end recommendations.
The fractal nature of the framework means that the structure is repeated in the level of
individual slides. The title is the statement, the exhibits and data is the evidence, and the
implications follow in the end. Sometimes a single message will be broken across slides,
and the actual slides will contain sub-sub-statements.

5.2. Presenting
Winning team is usually the one with clearest presentation and best logical flow
of the solution. I would stress here the importance of making the jury understand
what you are talking and how it relates to the overall solution.
Juror (jury
survey)
Presenting the solution is important in two ways. Firstly it is graded per se, meaning that
the jury will be watching closely how well your team is able to perform. This part,
however, seems to have a low influence on the average score that the presentation gets
(performance analysis).
Secondly and more importantly, it determines how well your teams message will go
through. The good preparation and nice slides are not enough if the team is unable to
deliver a convincing presentation.
General presentation skills are beyond the scope of this report. However, some general
points can be made about presenting:

Do not read the slides

o The most common mistake by presenters is to read the slides aloud instead
of presenting. A good way to avoid this is to leave out any lengthy
passages from the slides so that there is no way to just read them. (own
experience)

Maintain eye contact to the jury

o The jury is the most important audience to your presentation, so remember
to target your presentation to them. (Kari 2001). Try to avoid talking to the
slides, your notes, your shoes or other secondary audiences.

Too fast or too slow?

o Under stressful presentation situations, people commonly either start
talking really fast, or too slow. Try to recognize and avoid this. (jury
survey)

Be happy and confident

o Make an impression that you know what you are saying and are relaxed.
When presenting or waiting to present, maintain a happy face and use
open body language. The TIMES 2006 team was often criticized on this,
as we tended to look very serious, as like someone had eaten our lunch.
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5.2.1.

Rehearsal

The most common answer on how to prepare a good presentation is typically to rehearse
it a lot. However, in the case solving setting there is typically no time for this. Based on
the focus group survey, some teams try to rehearse a presentation, but most do not. This
is confirmed by the wider audience questionnaire: teams generally do not see time spent
rehearsing as adding enough value.
The problem with rehearsing a presentation is that it takes a full 20 minutes of team time
just to go over the presentation simply. Any comments or improvements take an
additional toll on team time, typically at least the same time as the delivery if they are to
add any value. As a result, rehearsing the presentation takes about 30% of the preparation
time not spent on reading the case.
The TIMES 2006 team typically did not rehearse presentations, save for one time in the
final competition where it was thought that the preparation time would be 3 hours when
in reality it was 3 hours 30 minutes. As a result, there was 30 minutes extra time, and this
was spent going over the presentation. In the end this was not felt to add value
significantly, and rehearsing was not used in later cases.
Instead of preparing as a team, it is possible to save some time in the end to cover ones
own part individually if necessary. This focusing on ones own part, which is typically
only about five minutes long, will take less time. Of course the others will then not have
time to comment, which can lead into problems.
One of the sources of need for rehearsal is the perceived need to make sure that the story
in coherent and has a logical flow. In my opinion, doing that in the end is more quality
control than productive time. The flow of the presentation and the arguments presented
should be clear before preparing the individual slides. (own experience)

5.2.2.

Entrance

First impression matter, and thus entrance to the solving room is something to think
carefully about. The team should voice confidence, friendliness, energy and all other
imaginable positive attributes. This can be very hard given that the last three hours have
been spent in intensive and consuming preparation. (own experience)
The best way to make a good entrance is to remember to focus on this aspect of the
presentation as well. The TIMES 2006 team would typically think of different rapport
building jokes or gimmicks to use before the presentations. For example, shaking the
hands of the jury before giving the presentation is something that most teams do not do,
and which consequently sets the team apart from the pack in an early phase.

5.2.3.

Beginning

The beginning of a presentation is typically done while the title slide is shown. The title
slide should at its minimum contain the name of the team and the name of the case
solution. While often teams use simple titles, such as the case name or the case company
name, it is worth trying to use more fancy titles. The TIMES 2006 team tried to make the
title catchy, so that it would summarize the solution or problem in an original way.

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The first presented usually presents the team members and the team. Kari (2001) also
recommends delivering an executive summary at the very beginning, but this is often not
done.

5.2.4.

Transitions

Transitions between slides and between presenters have a potential to disrupt the flow of
the presentation. For example, if the presenter just stops and waits for another presenter
to start the jury might feel that the team has not prepared well enough.
There are two main identified ways to make transitions smoother. Firstly, one can use a
host person, a person whose task is to introduce each speaker and then perform the
transition. For example Thank you X for your market analysis, next Y will take the floor
and introduce the marketing mix. This works well if one person is gifted in presenting,
but might cause a too artificial feeling to the presentation. (Kari 2001)
Another way that was used also by the TIMES 2006 team is to use flagging. This means
that the person ending his or her part signals clearly that a transition is about to happen
using expressions such as This concludes the analysis on the market. I will now hand
over the floor to Y, who will take a look at the marketing mix. This technique is widely
recommended by the different sources, for example Kari 2001 and the jury survey.

5.2.5.

Roles

Not everyone is equally gifted in presenting. And in addition to differences in overall

presentation skills, the personal presentation styles of different persons vary so that they
are better suited for different types of material. (focus group, jury survey)
What this means in case solving competitions is that the team should think who should
present which part. And since often the presentation is done by the person preparing the
slides, the differences in presentation skills can reflect to the preparation phase as well.
According to one juror interviewed, the team should identify star presenters and let the
present the key parts of the solution to maximize the teams performance.
The TIMES 2006 team had identified among itself three different types of presenting
personalities: convincing, friendly and analytic. The particularly friendly person would
start the presentation to make the jury feel positive towards the team. The people seeming
the most analytic would present the analyses, and finally the most convincing personality
wrapped up the recommendations so that the overall solution would seem credible.
Different teams will most likely consist of different personalities, but it is worth it to
think how the personalities work in different parts of the presentation.

5.2.6.

Answering questions by the jury

The focus group and jury surveys revealed five principles of answering questions:

The person presenting the issue related to the question answers

Try to balance so no single group member dominates

All members of the team should answer questions if possible

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Answer in short, precise answers to what has been asked

Avoid multiple team members adding and adding

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6. General tips and tricks

As the name implies, this chapter is about the different general tips and
tricks that a team can use to improve its performance. The tips are drawn
from different sources: the empirical studies done earlier as well as own
experience. Most are related to case solving competitions, but can also be
adapted to different settings.

6.1. Forming a team

Team composition is likely the most important determinant of the teams latter
performance. Of course participant skills can be trained, the group dynamics can be
studied and improved and different tricks and tips can be adopted to make the group
perform better, but these improvements can be minor in comparison to the differences in
the starting point. (own experience)
Team performance is a function of individual skill profiles and team dynamics. If I would
have to choose which is more important, I would suggest the latter based on observing
the various groups I have been a part of. In some instances the skills and talents of the
individual members have been good, but the group dynamics so poor that little value was
produced by the team. Thus when forming your team, make sure that you get along with
all of the team members and your group works efficiently. If this is not the case, I would
almost suggest trying to form a new team before the competition.
There is a wide debate around team heterogeneity, team homogeneity and team
performance. The question is whether teams formed with people sharing a similar
background and personalities are able to outperform teams with a more diverse
composition. The consensus in this area seems to be currently that it depends on the
complexity of the problem: for simple tasks, homogenous teams perform more
efficiently, whereas solving more complex tasks is best done with a more heterogeneous
team.
The question then is that under which category does a case solution fall? I would tend to
answer that the situation demands some creativity and diversity of point of view, but
overall rewards a team that can perform the most effectively under the time pressure.
Hence a rather homogenous team, if it can ensure sufficient idea creation, is likely best
suited for the competition.
Since the time to solve the case is very short, very rarely can a team afford to have people
not contributing. Thus when building the teams it is good to ensure that everyone is about
the same level in terms of knowledge of the subject matter and ability to solve cases. A
team just built around one star faces a disadvantage. Not only will the single star have to
perform most of the work, but also his unequal contribution will be noted as a
disadvantage by the jury. (jury survey)

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6.2. Training
Training for the competition is voluntary, but quite common at least in the TKK setting,
where even the local qualifications are a though. How then to best to train? Based on the
wider audience questionnaire, taking the course Advanced Case-Seminar in Strategy and
participating in earlier case competitions are the two best ways to get general case solving
skills.
In addition to this larger scale effort, the team can improve their performance in a variety
of ways collected from the empirical study:

Use earlier teams as source of advice (focus group)

o It is possible to interview people from past competitions to gain insight
into how they solved cases.

Copy good ideas from others (jury survey)

o When you see a good presentation gimmick, a nice structure or a valuable
analysis, copy it to your own case solving toolkit.

Focus on second order learning (focus group)

o This means that whenever you receive feedback on your case solution, try
to think what in your case solving process caused the good or bad results,
rather than focusing on the particular mistake or good thing. This way you
can use the feedback to steadily improve your process rather than as a
collection of things not to do again.

Use videotapes of presentations (jury survey)

o The can be painful to watch, but they really reveal how your presentation
looks from the viewpoint of the jury. Try to spot any consistent
presentation errors as well as unclear structure. It is sometimes good to
watch the tapes a couple of weeks after the solution so that you are more
able to take the role of the audience.

Train dynamics of team (focus group)

o Have discussions on how the team dynamics work so that you can
improve them. Open and honest discussion and feedback can make the
solving atmosphere better.

Make situations real by having an actual jury (focus group)

o Whenever possible, try to recruit people to listen to your presentation and
give feedback. Having a jury forces the team to take the training seriously
and makes the situation more real. For example course staff, previous
teams, friends and different company representatives can be used as
training juries.

101

Alternate training (focus group)

o The TIMES 2006 team would typically train all phases of the case solution
process at the same time, but it is also possible to concentrate on some
issues while omitting others. For example if the initial structuring of the
solution is the most difficult part, the team can do multiple cases that are
stopped to that phase.

6.3. The jury

When meeting the jury, it is good to think of them as friendly people and not as enemies.
Sometimes this seems to be forgotten by teams who just want to appear extremely smart,
professional and to prove that their solution is the absolute best. So instead of trying to
give a really tight impression, try to build rapport with the jury. This can be done for
example by shaking hands with the jury, commenting something funny about the case
before starting the presentation or doing other normal people-to-people interaction. You
do not have to appear as case-solving robots! (own experience)
Some kind of background check can also be beneficial regarding the composition of the
jury. Kari (2001) recommends studying whether the jury is mainly from a company
background or academic, and adjusting the solution and presentation in accordance with
this. The background check can also be done to predict the cases that will be used. For
example, company representatives often are allowed to pick the case they want, and
consequently the case is likely to have something to do with their area of expertise. How
valuable this kind of information is a bit questionable, as there are too many cases to be
able to study each beforehand, and also the case usually has all the information needed to
solve it without studying the topic area separately.

6.4. TIMES specific advice

Based on the experience gathered by previous TKK TIMES teams, here is a final list off
odds and ends that might come in handy when preparing for a case competition,
especially TIMES:

Have own writing equipment

o In addition to the recommended calculator, it is often possible to bring
additional own equipment to the case solving room if this is cleared with
the organizers. Extra overhead slide pens, transparencies, flipcharts, pens,
tape and such can come in handy if they are in short supply. Also the own
pens can be of a thin variety, which helps to improve the legibility of the
slides.

Have own timekeeping equipment

o The time limit of 20 minutes presentation time is often strict, and at the
same time the case presentation room has no devices to check time. To
alleviate this problem, you can bring along your own clock and keep time
with that. Or as an alternative, you can ask the organizers to show the

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remaining time with papers on 5 min and 1 min for example. Often this is
done automatically, but its a good idea to make sure that this is the case.

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7. Synthesis
As a synthesis of the key ideas of this report, I would like to point out the three key ideas:

Importance of structure
o Having a clear and understandable structure for the case solving process
and the presentation itself is critically important. The team must know
what they are doing while preparing the solution and the jury must
understand what they are seeing and why. A clear structure also enables
second-order learning, as the feedback can be translated to improvement
in the structure rather than remaining on the level of individual items.

Importance of teamwork
o No team can be successful unless it functions properly. Devote attention to
teamwork in the team formation phase as well as later. Make sure that no
conflicts are hindering the solving process, and remember to give honest,
open feedback as often as possible. The goal should be that everyone has
enough trust to openly criticize any aspect of others work at all times, yet
still the atmosphere remains friendly and constructive.

Importance of presentation
o The only element seen by the jury is the final slides and the accompanying
presentation. All phases of the solution process should focus on this
aspect, and the communication of the ideas should be the key priority. A
good idea is worth nothing if it is not understood.

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8. Terms and explanations

ACS

Advanced Case-Seminar in Strategy, an optional course for students of

Strategy and International Business at the Helsinki University of
Technology, consists of solving Harvard-type cases in groups and receiving
feedback on the solutions.

ESTIEM

European Students of Industrial Engineering and Management, an

organization with 45000 student members from 23 countries across Europe.
Organizer of TIMES.

Final Week Final round of TIMES, with teams from the six semi-finals and from the
organizing university competing for the victory.
LQ

Local Qualifications of TIMES, held in most member schools of ESTIEM.

Winner is qualified to attend the one of the semi finals.

SF

Semi-Finals of TIMES. Altogether six SFs are organized across Europe.

The winner is sent to the Final Week.

TIMES

Tournament in Management and Engineering Skills, an annual competition

for all ESTIEM students.

TKK

Helsinki University of Technology

TRAIN

A method for delivering persuasive presentations, originally developed for

the International Business Linkage Program at TKK

105

9. References
Backholm, Ari. 2000. Working with Cases. Presentation given 2000-02-04 at the
Helsinki University of Technology.
Bonoma, Thomas. 1989. Learning with Cases. Note, Harvard Business School.
Distributed by ECCH.
Bruner, John. 2001. Note to the student: How to study and discuss cases. Note,
University of Virginia Darden School Foundation. Distributed by ECCH.
Cohen, J., Cohen P., West, S.G., & Aiken, L.S. (2003). Applied multiple
regression/correlation analysis for the behavioral sciences. (3rd ed.) Hillsdale, NJ:
Lawrence Erlbaum Associates. Quoted in Wikipedia: Correlation. Available online at
http://en.wikipedia.org/wiki/Correlation (Accessed 2006-12-18)
Corey, Raymond. 1999. A Note on Case Learning. Note, Harvard Business School.
Distributed by ECCH.
ECCH. 2006. Case collection update Quarter 3. Available online
http://www.ecch.com/about/case-collections-updates.cfm (Accessed 2006-12-18)

at:

Hammond, John. 1987. Learning by the Case Method. Note, Harvard Business School.
Distributed by ECCH.
Haywood-Farmer, John. 1979. Note on case analysis. Note, Ivey Management School.
Distributed by ECCH.
Kari, Niklas. 2001. Ace Your Case. Special Study, Helsinki University of Technology.
Maister, David. 1985. How to Avoid Getting Lost in the Numbers. Note, Harvard
Business School. Distributed by ECCH.
Pallett, Simon. 1992. Analysis of Financial Data in Case Studies: A guide for
Management and Business Studies Students. Note, University of Northumbria at
Newcastle. Distributed by ECCH.
Roberts, Kenneth. 1983. Notes for the Guidance of Students in the use of Case Studies
and the Case Study Method in Teaching and Learning. Note, North Staffordshire
Polytechnic. Distributed by ECCH.
Shapiro, Benson. 1988. An Introduction to Cases. Note, Harvard Business School.
Distributed by ECCH.
Srikanth, MK. 2004. A Note on Financial Ratio Analysis. Note, ICFAI Center for
Management Research. Distributed by ECCH.

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Appendix A Grading Sheet from TIMES Finals 2006

ls
ss
e
Br
u

Sa
d
ov
i
N

Li
nk

he
ls
ru
Ka
r

ho
ve
Ei
nd

nk
i
el
si
H

Lu
nd

AREA TO BE MARKED
Presentation (20%)

p
in
g

Case:
n

Judge:

Use of Visual Aids

Voice (clarity, volume, etc.)
Professionalism
Body language
Hand-over
Structure
Time management
TOTAL
Application of tools (15%)
Appropriate selection of tools
Appropriate use of tools
TOTAL
Problem analysis (25%)
Extracting relevant information
Indentifying underlying problem
Identifying future perspective
Structured thinking
TOTAL
Solution (30%)
Feasible
Clear
Approriate
Effectiveness
Consideration of alternatives
Answer the Question
TOTAL
Questions from jury (10%)
Relevance of case
Quality of answers
Personal confidence
Precise and clear answeres
Answer the question
Participation of team members
TOTAL

Please give scores out of 6:

6 Excellent

5 Very Good

4 Good

3 Satisfactory

2 Acceptable

1 Poor

Appendix B Grading Sheet from ACS 2005 and 2006

HELSINKI UNIVERSITY OF TECHNOLOGY

DEPARTMENT OF INDUSTRIAL ENGINEERING AND MANAGEMENT
INSTITUTE OF STRATEGY AND INTERNATIONAL BUSINESS

TU-91.2015 Advanced Case-Seminar in Strategy

3 or 5 ECTS

Evaluation Form, Fall 2005

Please note that the evaluation of the case group is applied to all individual group members!
Name of the evaluator:

Name of the case:

Number of the presenting group:

Evaluation for the case presentation

Structure of solution:

0 1 2 3 4 5

Identification of key issues:

0 1 2 3 4 5

Robustness of analyses:

0 1 2 3 4 5

Quality of end recommendations: 0 1 2 3 4 5

Presentation skills and clarity:

0 1 2 3 4 5

Responses to questions:

0 1 2 3 4 5

Notes, comments and general feedback:

Comments

_____

Appendix C Questionnaire for Case Competition Participants

This questionnaire has three parts. Part one deals with the process of making the case
solution: the analyses, work division and so on. Part two deals with the output - the slides,
presentation and question answering. Part three focuses on the preparation phase.
Answer based on the experience of you and your group. Each question consists of a part
focusing on actual experience and a part focusing on hindsight - what could be done better.
Part One: Process
1 - Did you use some kind of preset roles during case solving? If yes, how did you divide the
work? Based on your experience, what would you recommend in terms of task division?
2 - How did you divide time during your preparation? Assuming the total solving time is 3
hours, what phases could you list and how much did each take in terms of time? What would
you recommend in terms of time division?
3 - How and when did you decide on the key issues of the case? What would you recommend
on key issue generation?
4 - What methods did your team use for idea creation (e.g. brainstorming, analogies, free
flowing thinking, checklists, analysis driven idea creation etc.)? What would you recommend
as a good way to create ideas?
5 - How and when did your team decide on the solution? If there was an argument between
team members on what to recommend, how did you solve it? What would you recommend in
terms of solution selection?
6 - Did your team have a procedure for ensuring that the solution was complete and no issues
remained unsolved? What would you recommend as a good way to ensure completeness?
7 - Did you employ some kind of roles related to controlling the process, for example a
leader of the team or a controller of time during the preparation? What would you
recommend in terms of process control?
8 - How did you prepare the slides for the presentation? For example, did each do his or her
own slides on the transparencies, and how did you plan the content and ordering of the
slides? What advice could you give on slide preparation?
9 - Did you typically rehearse the presentation during the preparation time? If yes, how did
you do it? If not, why not? What advise on rehearsing could you give?
10 - Based on your experience, what general advice on the case solving process would you
give to future TIMES competition teams?
Part Two: Output
11 - What different structures did you use in your presentations? Which did you find the most
and least effective? What advise would you give on presentation structure?

12 - What types of slides did you use in terms of amount of text, slide titles, slide text and so
on? Did you have a certain format for all slides? Did you use backup slides? What advice
could you give on slide content?
13 - What content did you typically start your presentations with (after introductions and
agenda and other practicalities)? What advise would you give on this issue?
14 - What types of analyses did you find most useful? Did you favor "textbook" analyses or
own frameworks? What analyses generally resulted in bad results? Did you report all the
analyses you performed, or only the key ones? What advise would you give on analyses?
This is one of the most important questions, so please answer with care.
15 - Did you typically perform a comparison of alternatives? If yes, how was it structured?
Do you have any advice of analyzing alternatives?
16 - Did you typically include financial analysis in your presentation? If yes, what kinds of
analyses did you typically perform? Can you give any advise on performing and presenting
financial analyses?
17 - How did you deliver the recommendations for your case? Do you have any advice for
the recommendations part?
18 - How did you tackle possible contingencies, unknown issues and risks in your
recommendation? Would you have any advice on presenting these?
19 - How did you answer questions from the jury? What would you recommend as a good
question answering strategy?
20 - Would you have any general advice on the presentation of case solutions?
Part Three: Preparation
21 - Did you train together as a team beyond the compulsory exercises (ACS) or
competitions?
22 - If you did train, in what different ways did you train case solving?
23 - Would you have any advice on training for future teams?
General comments
24 - Would you have any general comments related to solving cases, presenting, preparing
for case competitions, this survey, or other issues?
Thank you for your time and effort!

Appendix D Questionnaire for Jury Members

Grading priorities
1 - When acting as a jury member, what do you consider the most important element of the
team's solution and presentation when deciding which team is the winner? Naturally the sum
of the points on the marking paper are important, but is there also some kind of a "gut
feeling", and what do you think it is based on?
2 - How much importance in percentages would you attach to the following graded elements,
if no weighting scheme was provided by the organizer?

Identification of key issues

Quality of analyses

Quality of recommendations

Structure of solution

Presentation

Answering questions by the jury

3 - Based on your experience, do you see that winning teams typically outperform other
teams in a particular area of grading? (For example, that winning teams are usually the ones
answering the questions from the jury best.)
Analysis
4 - Which analysis frameworks you would recommend to fit well to case solving in general?
5 - Which analysis frameworks do you see as overused or applied to the wrong problems?
6 - Some jury members complain that financial analysis is often neglected. Do you agree that
there should be more focus on financial issues? What type of financial analysis would be the
best for a typical case solution?
7 - Often the teams do not explicitly present alternatives to their proposed solution. Do you
consider that analysis of alternatives should receive focus? Which ways of analyzing
alternatives would you recommend?
8 - In general, do you favor "textbook analyses" (direct application of well-known tools) or
analyses invented by the team to fit the particular case?
Solutions and recommendations
9 - Since there are no right answers to cases, it requires expertise to determine which
recommendation is the best. Based on your view, what aspects make a recommendation
good?
10 - Which methods of presenting recommendations do you consider the most efficient? (For
example: presenting a precise timeline, presenting a list of short and long term actions,
showing how each key issue is addresses etc.)

11 - Do you have any advice for presenting uncertainty, contingencies and risks in the
solution?
Structure
12 - Please comment on the suitability of each of these structures to a case solution. Which
do you prefer in general? If the best structure depends on the case, can you give guidelines to
how to select the structure?

Intro - Analysis - Recommendation

Intro - Alternatives - Analysis - Recommendation

Intro - Analysis - Alternatives - Recommendation

Intro - Recommendation - Analysis/Backing up

13 - What additional advice would you wish to give on structure?

14 - "Flow of presentation" is considered to be critical by many. How would you advise
teams to ensure that the jury can understand the flow?
Presentation
15 - What general advice would you give on slide design (titles, exhibits, text, bullet points,
action points etc)?
16 - What general advice would you give on presentation skills? What are the most critical
areas of improvement for typical presenters?
17 - What advice would you give on answering questions presented by the jury?
General advice
18 - What do you see as the most common mistakes or critical areas of improvement for case
teams?
19 - Do you have any good general tips or tricks for solving cases not covered in the
questions above?
Thank you for answering the questions!
20 - Now, would you like to give any other feedback or advice in the general area of solving
cases, or to this particular survey?