The document discusses the case study method used in business schools to enhance learning. A pharmaceutical business case study comprehensively describes actual business situations and problems in a drug company. The objectives of case studies are to merge theory with practice, develop problem-solving skills, and validate marketing theories. Presenting the case study involves preparing a written report and oral presentation, which are then interrogated by another group to discredit the solutions and strengthen the analysis. The goal is to encourage learning through questioning and debate.
The document discusses the case study method used in business schools to enhance learning. A pharmaceutical business case study comprehensively describes actual business situations and problems in a drug company. The objectives of case studies are to merge theory with practice, develop problem-solving skills, and validate marketing theories. Presenting the case study involves preparing a written report and oral presentation, which are then interrogated by another group to discredit the solutions and strengthen the analysis. The goal is to encourage learning through questioning and debate.
The document discusses the case study method used in business schools to enhance learning. A pharmaceutical business case study comprehensively describes actual business situations and problems in a drug company. The objectives of case studies are to merge theory with practice, develop problem-solving skills, and validate marketing theories. Presenting the case study involves preparing a written report and oral presentation, which are then interrogated by another group to discredit the solutions and strengthen the analysis. The goal is to encourage learning through questioning and debate.
method adopted in business schools both with undergraduate and graduate programs enhances learning by drawing out of the class a fresh exchange of experiences, innovative ideas and practical applications develops in the students a strong analytical and decision-making skills Pharmaceutical Business Case Study Defined as a comprehensive and objective description of actual business situations in a particular drug company and/or related businesses Gives company background; products and services, sales target and volume, customer profile and even SWOT. Provides exhaustive analysis of a work problem and hints on possible solutions. Pharmaceutical Business Case Study Highlights a specific deviation in the companys business operations in the area of ethical and over-the-counter (OTC) products, branded and unbranded generics, pricing, promotions, or place or people It may be focused on the non-attainment of marketing and business goals, i.e. sales/ revenues, market share, market growth, market leadership, profitability and survival of on-going business concern Pharmaceutical Business Case Study A pharmaceutical business case can be prepared from actual marketing problems Prepared by researchers or marketing students. It is NOT designed to illustrate effective or ineffective handling of marketing and business problems. Use is merely as a basis for discussion in classes, seminars, and workshops Objectives of a Pharmaceutical Business Case Method 1. To merge theory and practice to help students in identifying business and marketing issues that need to be addressed.
2. To infuse an integrated approach to exercises in problem solving, decision making, and problem analysis so that students will be given valuable practice in formulating and evaluating marketing plans
3. To provide the students case materials that will serve as instruments to validate the applicability of theories in true-to-life business situations. Objectives of a Pharmaceutical Business Case Method 4. To guide the students in formulating a thesis and an approach in putting together a written pharmaceutical business case and an oral presentation of the business case.
5. To enhance decision making skills of the students through open debates and discussions, sharing of perceptions, impressions and work-related experiences among participants. A Case for Case Analysis Case Analysis is bridging the gap between classroom learning and the so-called real world of marketing management. Provide an opportunity to develop, sharpen and test analytical skills at: Assessing situations Sorting out and organizing key information Asking the right questions Defining opportunities and problems Identifying and evaluating alternative courses of action Interpreting data A Case for Case Analysis Provide an opportunity to develop, sharpen and test analytical skills at: Evaluating the result of past strategies Developing and depending new strategies Interacting with other managers Making decisions under conditions of uncertainties Critically evaluating the work of others Responding to criticism The Case Method The use of business cases was developed by the faculty of the Harvard Graduate School of Business Administration in the 1920s Case studies have been widely accepted as one effective way of exposing students to the decision making process Cases generally entail both qualitative and quantitative data which the student must analyze to determine appropriate alternatives and solutions The Case Method The primary purpose of the case method is to introduce a measure of realism into management education Rather than emphasizing the teaching of concepts, the case method focuses on application of concepts and sound logic to real world business problems The students learn to bridge the gap between abstraction and application and appreciate the value of both. Basic Approach to Case Analysis 1. Problem definition 2. Alternative courses of action are formulated 3. The alternatives are analyzed in terms of their strength and weaknesses 4. An alternative is accepted and a course of action is recommended This basic approach is quite useful for students who are well versed with case analysis, particularly for shorter cases, however this framework may be inadequate or oversimplified . Expanded Framework for Case Analysis 1. Analyze and record the current situation Phase 1: the environment-economic, social, political and legal areas. May contain threats and opportunities for the firm Phase 2: the industry Consider- rivalry among existing competitors -Threat of new entrants -Threat of substitute products -Bargaining power of suppliers -Bargaining power of buyers Phase 3: the firm Phase 4: marketing strategy-analysis of current strategy
Expanded Framework for Case Analysis 2. Analyze and record problems and their core elements 3. Formulate, evaluate and record alternative courses of action 4. Select and record the chosen alternative and implementation details Pitfalls to Avoid in Case Analysis 1. Inadequate definition of the problem 2. The search for the answer - There is no one official or correct answer to a case. Rather there are usually several reasonable alternative solutions 3. Not enough information 4. Use of generalities. Be specific 5. A different situation 6. Narrow vision analysis / Change in marketing element will have effect on the others
Pitfalls to Avoid in Case Analysis 7. Realism 8. The marketing research solution 9. Rehashing the case material 10. Premature conclusions Operational Approach to Case and Problem Analysis 1. Read the case quickly to get an overview of the situation 2. Read the case again thoroughly. Underline relevant information and take notes on potential areas of concern 3. Review outside sources of information on the environment and the industry. Record relevant information and the source of the information 4. Perform comparative analysis of the firm with the industry and industry averages 5. Analyze the firm 6. Analyze the marketing program Operational Approach to Case and Problem Analysis 7. Record the current situation in terms of relevant environmental industry, firm and marketing strategy parameters. 8. Make and record necessary assumptions to complete the situational framework 9. Determine and record the major issues, problems and their core elements 10. Record proof that these are the major issues 11. Record potential courses of action Operational Approach to Case and Problem Analysis 12. Evaluate each initially to determine constraints that preclude acceptability 13. Evaluate remaining alternatives in terms of costs and benefits 14. Record analysis of alternatives 15. Select an alternative 16. Record alternative and defense of its selection 17. Record the who, what, when, where, how and why of the alternative and its implementation
Case Handling Presentation Presenting Group 1. The group will prepare a comprehensive group case report on a scheduled date and time to the instructor. The group will also provide copies of the report to the members of the liquidating group 2. The group will prepare a 30 minute presentation of the case report. The presentation should include a Powerpoint show, and if the group decides a role- playing activity.
Case Handling Presentation Presenting Group 3. The team leader assign case presenters to discuss the completed case reports before the class. 4. The group will prepare the presentation materials such as posters, mobiles, print ads, flyers, leaflets, and other promotion and merchandising materials. 5. If necessary , the group will present product prototypes, radio jingles, print ads, and television commercials Case Handling Presentation Presenting Group 6. Each member of the group has to fully understand the business case report. At the end of the oral presentations, they will have to answer questions from the liquidating group. It is the responsibility of each member of the group to give satisfactory answers that will leave no lingering doubt about the soundness of the case report presentation.
Case Handling Presentation Liquidating group 1. The liquidating group is given 30 minutes to interrogate the reporting group 2. The liquidating group will prepare questions based on the written and oral reports of the presenting group. 3. The liquidating group should aim to discredit the business and marketing plan of the reporting group.
Case Handling Presentation 4. The liquidating group usually throws questions at the person singled out as the weakest link in the presenting group. 5. The role of the liquidating group is to look into the soundness of the business case report,pointing out the weak points, and beefing up the case analysis, courses of action and strategies. Case Handling Presentation The aim of the exercise is to encourage a healthy learning-sharing process. It hopes to get all members of the group to speak out their minds on matters they feel strongly about. Each member of the presenting and liquidating group is given opportunity to ask and answer questions. The team leader of each group acts as a moderator. They see to it that the open forum is managed within the allotted time After the liquidating group finishes its job, the rest of the class get the chance to comment on the case report of the presenting group. This time the teacher facilitates the discussion Case Handling Presentation The teacher facilitator 1. The teacher/ facilitator sets the guidelines for the written group reports, including date of submission. He or she also sets the time allotted for the oral presentation, intermission, liquidating groups rejoinder and the class critique. 2. The teacher/facilitator evaluates the finished reports of the presenting and liquidating groups. He or she takes note of areas that are noteworthy,vague or weak. He or she gives specific comments and suggestions for areas that need improvement. The teacher/facilitator gives the appropriate grades for the finished reports. Case Handling Presentation The teacher facilitator 3.The teacher/facilitator recaps the case discussion. He or she summarizes the positive and negative aspects of the whole proceedings, gives pointers for improvements, congratulates both the presenting and liquidating group for their efforts, and declares the winner of the oral exercise.
Content of the Finished Pharmaceutical Business Case Report I. Time Frame II. Point of view III. Central problem IV. Secondary or sub- problems V. Objectives VI. Areas of consideration VII. Alternative courses of action VIII. Decision criteria IX. Recommendation X. The Business Plan XI. The Implementation Plan XII. Management Control XIII. Exhibits and figures Time Context Determine the actual time frame, year, month of the particular deviation or problem in the case occurred. Analyze the case problem within the actual period of the case Point of View Higher management point of view- chairman of the board, president, general manager, marketing VP or owner of the company Central Problem Can be a deviation in one of the 4 Ps of the marketing mix (products, price, promotion, and place) A slack in the overall performance of the company Business goals not met i.e. in terms of sales/revenues, market share, market growth, target market leadership or market segments When the central problem is not properly stated, the case analysis is weak and indefensible The central problem can be expressed in general declarative statements, question form or by using one or two phrases.
Secondary or Sub-problems Can be listed down as many as they come Appear in any of the areas of marketing, marketing research, production, finance or human resources. When sub-problems are well-defined and correspondingly solved, they become valid claims that support the solution of the whole problem Objectives Expectations in solving the central problem and sub-problems Basis for making decisions and courses of actions Objectives are desired results that must be achieved after solving the central problem and sub-problems Decide on standard of evaluation when setting case objectives which must be very specific in order to implement them as soon as possible. Examples of Statement of Objectives To increase the sales of RiteMED Amoxicillin capsules (250 mg and 500 mg) to 500 percent by the end of 2005. To have RiteMED Philippines capture 50% of the generic drug market by 2005. To capture a 100% sales growth for LVP in 2005. The statements of objectives should be SMART (Specific, Measurable, Attainable, Results- Oriented, Time-Bound) No motherhood statements Areas of Consideration Information about the cause and effect of the situation, policies, programs or standard operating procedures relative to the problems or the assumptions Hard evidence and logical thinking support these facts. SWOT analysis strengths and weaknesses of the company and products relative to competition Opportunities and threats to the external environment Alternative Courses of Action Possible answers to problems that have been clearly identified Independent from each other Should be able to solve the central problem or sub-problems Workable and achievable Should be very specific and quantifiable Suggested Statements of Alternative Courses of Action PROCARD, a fish oil product that is good for the heart, will be marketed through the multilevel marketing channel instead of the traditional pharmaceutical business and marketing approach effective January 1996, initially in Metro Manila and Luzon LVP , a dextrose product , will be relaunched primarily in the pharmacy departments of tertiary hospitals and lying in clinics nationwide in the fourth quarter of 2004, at a price discount of 10% lower than the market leaders Abbott and Euromed Dextrose Decision Criteria Specific criteria for each alternative course of action in quantifiable terms to be able to arrive at a well-balanced choice in the final recommendation Match the criteria with every alternative course of action using a scale of 1-5, with 5 as the highest and 1 being the lowest in percentage ratings. Suggested criteria may be a combination of the following factors: Sales/revenues, market-share, market-growth and profitability or market leadership
Decision Criteria The alternative course of action that garner the highest percentage ratings shall be adopted in the final recommendation CRITERIA Criteria ACA-1 ACA-2 ACA-3 Sales/Rev 5 4 3 Market Share 5 4 3 Mkt Growth 5 4 3 Profit 5 4 3 Total 20 16 12 Recommendation The best alternative course of action Will form the basis for a comprehensive business and marketing plan that will ensure early realization of company goals.