My Top Ten Case Studies
My post last week about Cracker Barrel received quite a bit of attention. I’m surprised to report that not everyone agreed with me. Cracker Barrel is following some of my recommendations and pulled back from the logo change. There is hope.
Today, I’m focusing on a less controversial topic: great business school case studies.
A Great Case
What makes for a great business school case discussion? First, it has to be a situation most students won’t know about. This makes some topics inappropriate for a case discussion. Can Tesla successfully enter the auto-industry? This is not a great topic because Tesla pulled it off (at least so far!). Should Goldman Sachs enter consumer banking? This is another poor topic because they tried and failed in a spectacular fashion. What is the outlook for Contrave, a new drug from Orexigen? This might work, since I suspect few people have heard of the drug or the company.
Second, there has to be something interesting. Maybe there is a great debate, and students can argue the different sides. Perhaps there is a twist or something unexpected. A discussion that is just pros and cons won’t last. Remember, a case study discussion usually lasts 90 minutes, so there has to be something to keep it engaging.
Third, the case has to lead to broader lessons. Learning that the quality of packaging is important in industrial fertilizers isn’t going to be important for most students. Understanding why executives so often misjudge competitors is more broadly relevant.
My Top Ten
Here are my top ten favorite cases. These are cases that I enjoy teaching; I suspect there is a correlation with student opinion, but I haven’t done the research to prove this. During my time as a marketing professor, I’ve likely taught over 50 different cases. These are the best ones. I’ve written many of them, but not all.
10. Crescendo: Steinway’s Growth Strategy
This is my newest case. It is focused on Steinway – a remarkable global brand. The question for discussion is simple: how do you build this business? The case is easy to teach, with distinct discussion questions about positioning, brand portfolio and strategic choices that lead to a nice resolution.
9. Solvaldi: Pricing a Breakthrough Drug
Two of my Kellogg colleagues wrote this case: Meghan Busse and Craig Garthwaite. If you know that pair, it isn’t a surprise that the case is a joy to teach. The initial question is simple: Did Gilead price Solvaldi too high, or too low? A majority of the class argues it is too high. This leads to a lively discussion about pricing, ethics, value and corporate responsibility.
8. Genzyme: The Synvisc One Investment Decision
I believe that ultimately all business questions link back to the financials. The numbers have to work. The Synvisc case is wonderfully complex. To evaluate investing in a clinical trial, students have to work through the financials. This is a great finance exercise. But in the process, the discussion shifts to the assumptions. What are we assuming will be the product appeal? What will be the adoption rate? Why? The case teaches important concepts in a natural way.
7. How Peloton Built the Foundation for Enduring Success (A)
This is a complicated case to teach for the simple reason that the title is completely wrong. The case, written by Columbia’s Len Sherman in 2020, is focused on Peloton’s amazing growth. That is all interesting, but most students know what happened: instead of enduring success, Peloton is perhaps best known as a pandemic stock that crashed partly due to inept management.
But that is what makes this case fun to teach. What happened? What went wrong? And what is the outlook today?
6. A1 Steak Sauce: Lawry’s Defense
This is, without a doubt, the easiest and most fun case I teach. It isn’t easy for students. It is easy for the instructor. The reason is that this case breaks down into a series of distinct activities. What is the A1 income statement? How worried should A1 be about Lawry’s steak sauce? Why? What should A1 do? The learnings are important and hit home after the discussion.
5. Chlorhexidine Adoption in Nigeria
I wrote this case with my Kellogg colleague Kara Palamountain. The topic: reducing infant mortality in Nigeria. Chlorhexidine is a very effective product with the potential to dramatically reduce mortality. The challenge: how to build adoption? This case teaches important lessons about global health, understanding people, sustainability and the important work of organizations like USAID.
4. Merck: Pricing Gardasil
One of the questions when writing a case is finding the issue. I wrote a case about Gardasil, Merck’s HPV vaccine, but it just didn’t work. I couldn’t find the interesting piece. I then rewrote the case to focus it on pricing. What is the right price for Gardasil? That is an interesting question. With the new focus the case worked beautifully; there were lots of issues to address including healthcare value and cost per QALY calculations.
3. Building Hoopes Vision
This is the most popular case that I’ve written, at least according to the latest sales report. It is a very fun discussion about a LASIK practice. I begin it with a video of a LASIK surgery, which gets students engaged. The discussion then focuses on competitive threats, financial analysis, customer insight, and strategic choices.
2. MedImmune: FluMist Introduction
Many case studies are long and complicated, loaded with data. FluMist, a case I wrote about a nasal flu vaccine, isn’t one of those. The case is just a few pages. But the discussion is complex, and the case dramatizes the power of a crisp positioning.
1. Philip Morris: Marlboro Friday (A)
My favorite case is actually the oldest one that I teach. The case, written by Bruce Isaacson and Alvin Silk from HBS, looks at the dramatic pricing move Philip Morris rolled out in 1995. I often ask students to evaluate the move before class. Usually the class splits, with 50% in favor and 50% against. This leads to a lively debate. The resolution is unexpected and the learnings are sharp.
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