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Case study 31: Game Plan - Coggle Diagram
Case study 31: Game Plan
Preparing for the final exam
Back to basics
In order to prepare for a case study exam, it is important to firstly understand the basics:
Wat is a case study
Why do we do case studies
Important steps and principles
This will assist you when compiling your case by helping you to be able to identify the important info. You will understand the "why" and the "how".
What is a case study:
It is a real-life scenario that presents a certain problem or challenge
It presents different decisions that have to be dealt with on a regular basis
It records the events and responses. It provides opportunities for identification of problems and recommendation of solutions.
What is the purpose of a case study
It is a tool, used to create a platform for learning
It provides an opportunity for the student to imagine a real-life scenario, which he/she has probably never experienced before and where decision making can be tested.
It also creates an environment where students can learn from each other, use information to make decisions and bring theory and skills together to find a solution.
Important step of a case study
Read the case study thoroughly, more than once
Compile a list of the issues
Analyse the company situation by making notes and preliminary calculations
*Apply concepts and prior knowledge to the situation
Number crunching
*Make recommendations
Prioritise recommendations
*Validate each recommendation
Review your recommendations
*Avoid unrealistic or contradicting recommendations
Prior knowledge and understanding
While analysing the case, make sure to identify and examine the problems. Read the case study thoroughly, as many times as needed and list the issues.
Consider the information provided and determine the following:
History, growth and development of the company
SWOT
Porter's Five Forces
Financial position
Company's strategy
Company's internal controls
If needed, do additional research on the industry, the company, and other company's in the industry.
Do proper revision of previous modules as the following knowledge will be required in order to analyse the case and make proper recommendations
Financial management:
Financial data, such as ratio analysis, and capital budgeting will be very useful when analysing and determining the financial health of a company.
Analysis of the financial data will help you understand why the financial state is what it is
Auditing:
Make sure you understand control objectives, internal controls and test of controls for all business cycles.
Auditing is the process where al 3 aspects are monitored to determine if the internal controls are working as intended
Accounting:
Accounting treatments are regulated and have specific rules regarding implementation of it.
Prior knowledge of IFRS and IAS is necessary in order to make recommendations for the accounting treatment of certain issues.
Structure and recommendations:
The following structure should be followed:
Introduction: A summary of the case. This is where you identify the issues and where you provide a summary of the relevant information pertaining to the company and industry.
Recommendation: Short explanation for the recommendation.
Discussion: Explanation of how you have come to your conclusion. This includes calculations and evidence.
Action plan: This includes the actions that should be taken, now and later, to achieve the recommended outcomes.
For each problem there must be a recommendation, discussion and action plan.
Conclusion: A summary of the report.
Recommendations: This is the final part of the case study analysis.
Each issue identified must have an appropriate recommendation.
The aim of each recommendation must be to solve the issue and improve shareholder profitability.
Make sure the recommendations make sense
Make sure the recommendations do not contradict each other
Do you recommendations in a logical meaningful order
Substantiate your recommendations with proof and evidence.
4IR:
It is vitally important to have knowledge of the 4IR technologies that is ever-changing and fast growing and that will have an impact on the way a business operates.
In order t make recommendations, make sure to incorporate new and evolving technologies that can be successfully implemented in that particular industry, as well as that particular company.