Case-Based Analysis in ICFAI Business School

 There are ample ways to deliver the quality education and one of these ways is Case-Based Learning Methodology.

Today ICFAI Business School (IBS) becomes India’s Top leading Business School, who adopted the Case-Based Learning Module way back in late 20^th century.

These kind of pedagogies helps the management students to develop a critical thinking, logical reasoning and problem solving effectively. In contemporary phase the technologies play a major role in providing a convenience to human life.

Now, let’s move ahead to find out the emerging factors of this technology and innovation.

Also, how case-based methodology helps in better assimilation.

As you know from late 1990s, there was a competitive phase going on globally. At that time, different sectors of the economy, whether primary or secondary or tertiary, witnessed massive growth and development.

Now, after deep downing the process, researchers have found many causing factors but the common factors were introduction of digital era and innovation, which leading the whole world simultaneously.

Since our existence, we have seen a tough time and adopted the path of innovation to brought convenience in our life. But the significant elements that led us throughout the journey were Innovation and Leadership in your work, skills, daily routine, etc., to ease your life and achieve success.

Similarly, in the business sector, if you want to capture the market share and be a market leader, then Innovation is one of the ways to succeed. Many business firms implement/adopt the change in sync with the environmental change. Also, Innovation helps the business to address the real problem of the masses and to find an adequate solution through their products and services.

 

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On similar note, many Indian firm come up with unique plans and strategies for their customer.

Now, let us understand, how case-based learning help us to understand the importance of the innovative strategies.

Fortunately, as a student of ICFAI Business School Gurgaon, one of the faculty members discussed a case study on a market-leading firm 'TATA Motors'. The reason behind taking this case study was the transformational changes within TATA Motors, like Innovation, Technological Advancement, Structural Changes etc.

 

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 The case study also enumerated the positive change in the market share of TATA Motors before and after adopting these fundamental changes, which showed how TATA Motors is leading the market from the front. 

The success factor of TATA Motors is Theory of Innovation based on the output of different elements.

Theory of Innovation

Different theories explain how evolution processes take place in any organization, how ideas spread amongst the employees, and how TATA Motors adopted Innovation through human interactions and interpersonal networks, including techies, visionaries, pragmatists, conservatives, and skeptics.

This theory follows a five-stage high-involvement framework such as:

Stage 1: Natural involvement

Stage 2: Structured creativity

Stage 3: Deployment of strategic goals

Stage 4: Proactive/empowered brains

Stage 5: High Innovation.

Overall, the significant sources of Innovation are brainstorming, heuristics and competency mapping.

The causing elements are as follows:

Leadership: TATA Motor used to regulate its global operations through five functional units finance, engineering, strategy, human resource, and communications. Heads of these departments are dynamic, agile, and always open to listening the new ideas. Which leads to optimal performance in every situation.

Organization Structure: TATA Motor has a flat organizational structure that includes a group of vibrant and energetic young professionals to drive the concept of Innovation. Which indicates that TATA Motor relies more on their people rather than any other factors of production.

Culture: TATA's culture based on collectivism, enabling the easy information flow between the top and middle-level management. Which results in effective relationships, healthy communications, and optimal use of resources.

Operational Strategy: The competition is growing day by day in the automotive industry globally. Therefore, TATA had adopted a strategy to implement innovation in its operational processes. Which helped them to differentiate themselves from their industry rivals.

Market Forces: TATA Motor had gone through the deep market research and understand the nerves of the masses. The Indian market demands the advanced technology, premium features, Sporty design, and their budget bar deflected between the range of INR 10-25 Lakh.

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 So, these are the valuable areas which TATA Motor understand and also assimilate them as well.

Overall, you have seen that TATA Motors has a broader view of Innovation because its managers believe that concepts are not new. We can apply radical ideas in several other areas within the company.

For example, the corporate used the participative leadership style and a flat structure to support the company's concept of Innovation, which is people-oriented instead being process-oriented. Hence, the key attribute of Tata's innovation plan is the usage of multiple strategies to maintain their uniqueness among different market segments.

Moreover, TATA Motor followed different business strategies in different nations. For example, the strategies for Sri Lanka differ from those adopted in Bangladesh, and the plan for Vietnam differs from those of the United Kingdom.

And, For Indian Market they adopted the strategies where they promoted the assembly of profitable cars and leaving out the unsuccessful ones. This strategy achieves the core idea behind the company's creative approach, i.e. 'One size does not fit for all'.

Therefore, the Innovation and leadership strategies of TATA Motors helped them to nurture their creative leaders globally. Also, every individual enhanced their professional skills required to succeed in the future.

 

 

Himanshu Gurjar

22BSP0623