Participating in a case competition is not only a great way to apply your academic skills, but it's also a fun and engaging experience. Throughout the competition, you'll put your case-solving, presentational, and analytical skills to the test. By defining the problem, testing hypotheses, and communicating your findings, you'll gain invaluable skills that will benefit you both as a student and as an economist. Don't worry if it seems daunting at first - everyone can learn these skills with the right training and preparation. Join our case-solving workshops, where you'll learn to think like a case-solver and master the various aspects of case-solving.
Additionally, our guide and access to previous cases and winning presentations will inspire and prepare you for the competition. Get ready to have fun while learning and growing your skills!
A Structured Process
A 5-step approach to solving a problem
Problem Definition: This step involves understanding the problem and defining it clearly and concisely. This includes identifying the problem's context, scope, and impact, as well as gathering relevant data and information.
Problem Structuring: In this step, the problem is broken down into smaller, more manageable parts, and a framework or hypothesis is developed to guide the analysis. This involves brainstorming and structuring the problem using frameworks such as MECE (Mutually Exclusive, Collectively Exhaustive) or hypothesis-driven problem-solving.
Data Gathering and Analysis: This step involves collecting and analyzing data to test the hypothesis or framework developed in the previous step. This includes identifying relevant data sources, conducting interviews and surveys, and using analytical tools to analyze the data.
Hypothesis Testing and Solution Development: In this step, the hypothesis or framework is tested against the data gathered and refined based on the results. Potential solutions are then developed and evaluated based on their feasibility and impact.
Solution and Implementation: The final step involves developing an action plan to implement the chosen solution so it can be successfully executed. This further includes identifying potential obstacles and developing strategies to mitigate them. While solving a case competition, it's vital to not miss this final stage after doing a thorough analysis.
Breaking down the ISSUE
THE MECE Framework
How can you grow a business?
The MECE (Mutually Exclusive, Collectively Exhaustive) framework is a powerful problem-solving tool that helps break down complex problems into smaller, more manageable components. The MECE framework requires breaking down a problem into a set of mutually exclusive categories that collectively exhaust all possible solutions. This approach ensures that every piece of information is accounted for and no important aspects of the problem are overlooked.
Should you enter a new market?
Using the MECE framework, each category should be independent of the others, and together, the categories should be complete, meaning they cover all aspects of the problem. This framework helps to organize thoughts and data in a structured way, which leads to a better understanding of the problem and ultimately leads to more effective solutions. The MECE framework can be applied in various fields, including business, management, and consulting, and it is a fundamental tool for problem-solving in these fields.
Do you still need more inspiration before our upcoming case? Take a look at our guide on creating a winning presentation. This guide is designed to provide you with the key steps to create a well-structured and compelling presentation that will help you to effectively communicate the value of your solution.
In addition to the guide, you may also find it helpful to look at the solution of previous winners. By examining how they approached their cases and what strategies they used, you can gain valuable insights into what works and what doesn't when it comes to solving complex business problems.