Research

In recent workshops I've conducted, I was asked to discuss the process of resolution research and provide some insights on how teams can develop their research pieces. I believe that this is a crucial aspect of pre-competition preparation, which has significantly contributed to my team's success.

It’s important to examine financial information, conduct industry research, and gather insights into typical budgets, wages, and project costs. Understanding these financial aspects helps provide a clearer picture of project expenses and personnel costs. Additionally, you should look at key financial indicators, such as equity versus debt ratios, which can vary between different industries.

Another critical area of focus is regional and country research, particularly if you're competing internationally. It’s essential to understand the cultural nuances and business practices of the countries involved, especially when dealing with cases related to specific regions. This background knowledge can be invaluable.

Your understanding of various industries will grow as you work through different cases, and you should continually add this pre-competition research to your toolkit. When you begin the competition, the timeline typically involves reading the case, participating in a case discussion (often using flip charts), and then solution building. The amount of time available for preparation and presentations can vary dramatically, especially for shorter competitions.

If the research phase is limited to just a few hours, you might face constraints such as a lack of internet access. Therefore, it’s crucial to leverage the information contained within the case itself. After the initial case discussion, assign questions to team members so they can research specific areas relevant to their assignments. If one area has numerous questions, it may be helpful to divide them among multiple individuals.

Following this research, reconvene to share findings and integrate them into the ongoing case discussion. As you begin the solution-building process, there may still be opportunities for additional research. During the review session, if you’re faced with discrepancies or uncertainties, take the time to verify information to address those issues.

In summary, foster open discussion within your team, conduct any necessary research, share insights, and then collaboratively build the solution you’ll present.

In order to proceed to the next steps and the resolution, which includes the review and presentation, it is important to consider the various types of research available. General research can involve looking at company websites, but other valuable resources include business cases from consulting firms, white papers, and similar documents. If you have more time, you might also engage in traditional research methods to gain further insights into the financials of a specific industry.

I recommend utilising business cases and white papers as additional research tools, as these can provide valuable insights. Company websites are also a key source of information that can help you generate ideas for your proposed solutions.

Another significant aspect to consider today is the use of AI. The first question to ask is whether it will be useful. In some instances, AI can be very beneficial, while in others it may not be as effective. You need to make that decision carefully. Often, case competitions require you to justify your use of AI; if you choose not to use it, you should be prepared to explain why it was not deemed useful in that particular case.

It’s essential to think more critically about the questions you ask AI in order to receive clarifications that can yield meaningful answers. During a recent workshop with students, we discussed how AI could serve as a useful tool to help identify key terms to include in your searches and thus enhance your general research efficiency.

However, it’s crucial not to use AI blindly. Consider how you plan to use it, what questions you want to ask, and how it can assist you in conducting further research as you progress.