If you attend business school, you can expect to read a lot of case studies. Professors love them because they offer real-world examples of why businesses succeed and fail.
There are some classic cases that every business student should know, like why Apple changed its name and how Ryanair beat two industry giants.
We've compiled the most influential cases here, with recommendations from business school professors across the nation and abroad.
Click here to see the case studies >
Thanks to Professor Jennifer Chatman of UC Berkeley's Haas School Of Business, Professor Aaron Chatterji of Duke's Fuqua School of Business, Professor Timothy Vogus of Vanderbilt's Owen School of Management, Professor Gautam Ahuja of Michigan's Ross School of Business, and Professor Laurence Capron of INSEAD for their input.
Why Apple changed its name
Case: Apple Inc., 2008
Key takeaway: Sometimes you can't take a rival head on.
What happened? Apple changed its name from "Apple Computers" to "Apple Inc." in 2007. That reflected a fundamental shift in its business, away from its iconic Mac computers and towards new lines like the iPod and new iPhone, which made up more than half of the company's revenue by then. Though still an important part of the company, Apple's amazing success came from completely changing the world of digital devices rather than from beating "Wintel" for share of the computer market. It reinvented itself, and did so very successfully.
Thanks to Dr. Aaron Chatterji, Associate Professor at Duke University’s Fuqua School of Business for his suggestion
How Lululemon kept its cult
Case: Leadership, Culture, and Transition at lululemon
Key takeaway: Figure out how to bring the founders into a strategy rather than alienating them.
What happened? In mid-2008 new CEO Christine Day took over from founder Dennis "Chip" Wilson. The decision came as the company wanted to expand and become more corporate. At the same time, Wilson was concerned about maintaining the culture and values of the company.
Day faced entrenched problems like outperforming stores, a poor real estate strategy, and barriers between various parts of the company. She used her experience from helping expand Starbucks worldwide to align the whole company with a strategic plan. She even convinced the founders to attend advanced management programs at Harvard and Stanford so they could better understand how the company must change. Worth around $350 million at the start of her tenure, Lululemon is now a $10.59 billion dollar company.
Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management Chair at UC Berkeley's Haas Management of Organizations Group for her suggestion
How Cisco bounced back
Case: Cisco Systems: Developing A Human Capital Strategy
Key takeaway: Great homegrown talent and a culture that values it are a huge advantages in a tough environment.
What happened?: Cisco grew rapidly during the tech bubble, acquiring 70 companies and more than doubling its work force. After the bubble burst, the company had to change the way it grew and developed talent, to build more from within rather than going out and buying it.
The company created a team to develop and leverage Cisco's talent and began the 'Cisco University' initiative to promote an agile and versatile workforce. Within three years, the company had turned around and was listed as one of the top companies to become a leader.
Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management Chair at UC Berkeley's Haas Management of Organizations Group for her suggestion
See the rest of the story at Business Insider