How Top MBA Students Win Every Case Competition (Insane Strategy Breakdown)

Summary

In this video, the speaker shares a seven-step framework to excel in case competitions, drawing from their team's success in securing second place nationally out of 543 submissions. The steps include thorough case reading, defining objectives, conducting research, brainstorming solutions, representing ideas effectively, testing hypotheses, and creating an implementation plan. Emphasizing the importance of practice, research, and structured thinking, the speaker highlights key strategies such as customer persona creation, hypothesis validation, and slide presentation skills. The video wraps up with advice for MBA students about finding and participating in case competitions.

Takeaways

• 😀 Case competitions require a thorough understanding of the problem, not just skimming the case. Read it at least three times to avoid misinterpretations.
• 😀 Define both the explicit and hidden objectives of the case. Identifying underlying goals is crucial to solving the problem effectively.
• 😀 Predict second-order problems that could arise from solving the main issue. This demonstrates foresight and depth in your analysis.
• 😀 Create a detailed customer persona to better understand the target audience and shape the strategy accordingly.
• 😀 Research should be structured: start with secondary research to understand the industry, followed by primary research to gather real-world insights.
• 😀 Use brainstorming sessions to generate a wide range of ideas. Ensure that team members come prepared with ideas to foster diverse thought.
• 😀 Test every solution idea using a litmus test: feasibility, realism, alignment with business context, and scalability (both geographically and over time).
• 😀 Presentation is key: master Microsoft PowerPoint to create clear, engaging slide decks that tell a compelling visual story.
• 😀 Hypothesis testing involves getting feedback from your primary research participants to validate or refine your solution.
• 😀 Develop a robust implementation plan that includes operational, marketing, and financial aspects to bring the solution to life.
• 😀 Always perform a final quality check before submission. Proofread for grammar, check for formatting issues, and ensure clarity in your story flow.

Q & A

What was the main achievement of the speaker's team in the B Tribe Case Challenge?

The speaker's team secured second place nationally out of 543 case submissions in the B Tribe Case Challenge.

What is the first step in the speaker's seven-step framework for case competitions?

The first step is case reading and defining objectives. The speaker emphasizes the importance of reading the case in detail at least three times to avoid misinterpretations and to identify the objectives clearly.

What are 'second order problems' in case competitions, and why are they important?

Second order problems are issues that arise as a result of solving the first-order problem. Identifying these demonstrates depth of thought and foresight, which the judges appreciate.

How does the speaker suggest defining the objectives in a case competition?

The speaker suggests defining both the explicit goals stated in the case and the hidden objectives that the team will specifically target. This ensures clarity on the real problems the team aims to solve.

What is the concept of a customer persona, and why is it important in the case competition process?

A customer persona is a fictional representation of the target customer, helping teams to understand their audience better. It helps in formulating strategies that are aligned with customer needs and behaviors.

What is the difference between secondary and primary research, according to the speaker?

Secondary research refers to data that has already been collected by others, while primary research involves gathering data directly from individuals or groups, such as through surveys, interviews, or focus groups.

What approach does the speaker recommend for brainstorming solutions in a case competition?

The speaker recommends structured brainstorming, where team members prepare ideas individually before meeting. This ensures diverse thinking and prevents groupthink, allowing for more creative solutions.

What criteria should be used to evaluate proposed solutions during brainstorming?

The solutions should be evaluated based on feasibility, realism, alignment with business context, and scalability—both geographically and over time.

Why does the speaker emphasize the use of Microsoft PowerPoint in case competition presentations?

The speaker emphasizes Microsoft PowerPoint because it offers extensive features for creating professional, impactful presentations. Mastery of the software is crucial for effective slide design and storytelling.

What is hypothesis testing, and how does it apply to case competitions?

Hypothesis testing involves making an educated guess (hypothesis) and testing it with real people to determine if the proposed solution solves the problem. It helps validate the solution and shows that the team has considered practical feedback.