From MBA students to budding entrepreneurs, everyone is looking for better ways to improve businesses and maximise profits. It might seem like a straightforward goal, but the sheer number of variables makes it a complicated task. So how do you begin? Business case studies!

Business case studies of various companies have always been the go-to resource for anyone attempting to learn about running a business. They offer fresh, domain-specific perspectives and are inspiring because they are well documented true stories. 

Let’s look at the best case studies out there that will help you understand businesses better. 

Ford 

Ford Motor has been a goliath in the automobile industry for decades. They paved the way for the entire industry in the 1800s by introducing the assembly line that would change the world. Although, we will not discuss their early genius in this blog. 

Let’s skip to the early 1960s when Ford is struggling to stay relevant in the industry. For the first time, the company felt the generation gap and was getting pummeled by its competitors. The new generation didn’t want a boring, dependable vehicle. They wanted an aggressive, sporty car that screamed suave and speed. 

In their attempt to acquire sports cars, they went to the biggest name in the race car world, Ferrari. Ultimately the deal fell through because Ford demanded ultimate autonomy in overall operational decisions. Ferrari sold a chunk of his company to Fiat and insulted Ford in the process. 

Finally, Ford decided to build a sports car that would beat Ferrari in the biggest race in the world, Le Mans. It is a gruelling 24-hour race that test’s the drivers and the cars to their breaking point. Ferrari was a reigning champion, and no American car had ever won the race. After a few years of R&D, losses, and operational failures, Ford finally won the Le Mans in 1966 with their most powerful vehicle at the time, GT40. 

This case study highlights the importance of keeping an eye on the horizon. Stagnancy kills companies, and you need to keep evolving with the changing times and consumer demand. If a giant like Ford was on the brink of bankruptcy, any company could fall prey to the inability to adapt. 

Apple

Apple is the most incredible rags to riches story in the tech industry. From a few boys in a garage to a trillion-dollar company in less than two decades, the company and late owner inspire everyone. 

In 2008, the company changed its name from Apple Computers to Apple. The simple drop of computers from the name might seem insignificant, but it set their future. They realised that they were a technology company that was not shackled to the computer industry. 

Apple also had the foresight to understand that computers would become redundant compared to devices like mobile phones, tablets and online stores. The number of computer units they sell grows every year, but the revenue percentage is considerably lower compared to their other product lineup. Currently, the company has created an ecosystem of devices and software that harmonises them in unison. 

This case study is an excellent example of being an industry leader who understands the market landscape. A company can only make the right decisions if they have all the correct information ahead of time. A simple name change can be a big step towards brilliance. 

Business case studies are a great way to gain knowledge and broaden your perspective. But it does not amount to anything if you do not practice it in your life. Do not be afraid to fail. All these success stories were built on steps of failures and heartbreak. Seize every opportunity and take your business into greatness. 

Leave a Reply

Your email address will not be published.