Competence in understanding business cases can be developed through collaboration with supportive teams, frequent practice, and learning to present business cases. This can significantly impact the world of work, assisting companies when they need to resolve specific business cases or face real-world business challenges.
Firmansjah Muhammad, an analyst at the global consulting agency McKinsey & Company, has firsthand experience winning business case competitions and working with various companies in Indonesia. Firmansjah led the workshop “Understanding Case Studies in Business and Management” at the Ganesha Business Festival in collaboration with SBM ITB on Sunday (25/2). The workshop aimed to equip students with the skills to understand business cases effectively.
According to Firmansjah, solving a business case typically involves following the seven McKinsey Steps. It begins with defining the problem, selecting an appropriate approach, analyzing it using the correct method, and developing recommendations based on the latest findings from the analysis.
Analyzing business cases requires a framework that serves as a structured approach to finding solutions. Frameworks are instrumental in addressing business cases and commonly include SWOT Analysis, Supply Chain Analysis, and 6P Analysis.
Firmansjah emphasizes that honing decision-making skills is essential for developing the ability to analyze or research business cases effectively. A thorough understanding of the business case is crucial for generating recommendations that address the underlying issues.
For consultants, Firmansjah believes that there is no definitive right or wrong answer when solving a business case. The case must be continuously developed until optimal solutions are reached. Consultants maintain a curious character and consistently inquire about the progress of the business case.
Firmansjah advises practicing effective case analysis as much as possible to enhance skills in business case analysis. This approach enables participants to comprehensively understand how to resolve business cases within companies or address real business challenges.
