Hypothetical Business Situation

Hypothetical Business Situation

Hypothetical Business Situation
Question
Answered

How to Solve a Case Study
A case study is a collection of facts and data based on a real or hypothetical business situation. The goal of a case study is to enhance your ability to solve business problems, using a logical framework. The issues in a case are generally not unique to a specific person, firm, or industry, and they often deal with more than one retail strategy element. Sometimes, the material presented in a case may be in conflict. For example, two managers may disagree about a strategy or there may be several interpretations of the same facts.
In all case studies, you must analyze what is presented and state which specific actions best resolve major issues. These actions must reflect the information in the case and the environment facing the firm.
STEPS IN SOLVING A CASE STUDY
Analysis should include these sequential steps:
i.    Presentation of the facts surrounding the case.
ii.    Identification of the key issues.
iii.    Listing of alternative courses of action that could be taken.
iv.    Evaluation of alternative courses of action.
v.    Recommendation of the best course of action.
Presentation of the Facts Surrounding the Case
It is helpful to read a case until you are comfortable with the information in it. Re-readings often are an aid to comprehending facts, possible strategies, or questions that need clarification and were not apparent earlier. In studying a case, assume you are a retail consultant hired by the firm. While facts should be accepted as true, statements, judgments, and decisions made by the individuals in a case should be questioned, especially if not supported by facts—or when one individual disagrees with another.
During your reading of the case, you should underline crucial facts, interpret figures and charts, critically review the comments made by individuals, judge the rationality of past and current decisions, and prepare questions whose answers would be useful in addressing the key issue(s).
Identification of the Key Issue(s)
The facts stated in a case often point to the key issue(s) facing a retailer, such as new opportunities, a changing environment, a decline in competitive position, or excess inventories. Identify the characteristics and ramifications of the issue(s) and examine them, using the material in the case and the text. Sometimes, you must delve deeply because the key issue(s) and their characteristics may not be immediately obvious.
Listing Alternative Courses of Action That Could Be Taken
Next, alternative actions pertaining to the key issue(s) in the case are listed. Consider courses of action based on their suitability to the firm and situation. Thus, the promotion strategy for a small neighborhood stationery store would not be proper for a large gift store located in a regional shopping center. Proposed courses of action should take into account such factors as the business category, goals, the customer market, the overall strategy, the product assortment, competition, legal restrictions, economic trends, marketplace trends, financial capabilities, personnel capabilities, and sources of supply.
Evaluation of Alternative Courses of Action
Evaluate each potential option, according to case data, the key issue(s), the strategic concepts in the text, and the firm’s environment. Specific criteria should be used and each option analyzed on the basis of them. The ramifications and risks associated with each alternative should be considered. Important data not included in the case should be mentioned.
Recommendation of the Best Course of Action
Be sure your analysis is not just a case summary. You will be critiqued by your professor on the basis of how well you identify key issues or problems, outline and assess alternative courses of action, and reach realistic conclusions (that take the retailer’s size, competition, image, and so on into consideration). You need to show a good understanding of both the principles of strategic retail management and the case. Be precise about which alternative is more desirable for the retailer in its current context. Remember, your goal is to apply a logical reasoning process to retailing. A written report must demonstrate this process.

Our Essay Writing Service Features

Qualified Writers
Looming deadline? Get your paper done in 6 hours or less. Message via chat and we'll get onto it.
Anonymity
We care about the privacy of our clients and will never share your personal information with any third parties or persons.
Free Turnitin Report
A plagiarism report from Turnitin can be attached to your order to ensure your paper's originality.
Safe Payments
The further the deadline or the more pages you order, the lower the price! Affordability is in our DNA.
No Hidden Charges
We offer the lowest prices per page in the industry, with an average of $7 per page
24/7/365 Support
You can contact us any time of day and night with any questions; we'll always be happy to help you out.
$15.99 Plagiarism report
$15.99 Plagiarism report
$15.99 Plagiarism report
$15.99 Plagiarism report
$3.99 Outline
$21.99 Unlimited Revisions
Get all these features for $65.77 FREE
Do My Paper

Frequently Asked Questions About Our Essay Writing Service

Academic Paper Writing Service

Our essay writers will gladly help you with:

Essay
Business Plan
Presentation or Speech
Admission Essay
Case Study
Reflective Writing
Annotated Bibliography
Creative Writing
Report
Term Paper
Article Review
Critical Thinking / Review
Research Paper
Thesis / Dissertation
Book / Movie Review
Book Reviews
Literature Review
Research Proposal
Editing and proofreading
Other
Find Your Writer

Latest Feedback From Our Customers

Customer ID:  # 678224
Research Paper
Highly knowledgeable expert, reasonable price. Great at explaining hard concerts!
Writer: Raymond B.
08/10/2021
Customer ID: # 619634
Essay (any type)
Helped me with bear and bull markets right before my exam! Fast teacher. Would work with Grace again.
Writer: Lilian G.
08/10/2021
Customer ID: # 519731
Research Paper
If you are scanning reviews trying to find a great tutoring service, then scan no more. This service elite!
Writer: Grace P.
08/10/2021
Customer ID: #499222
Essay (any type)
This writer is great, finished very fast and the essay was perfect. Writer goes out of her way to meet your assignment needs!
Writer: Amanda B.
08/10/2021
Place an Order

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
×

Powered by essayworldwide.com

× WhatsApp Us