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Learning Through the Case Method at Darden - YouTube
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one of the reasons I think Darden has
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been ranked as the number one education
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business experience is the case method
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and the power it has to help people have
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a positive learning experience every day
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we look at real business problems
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rather than learning from lectures we
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learn from the past failures and
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successes of real companies and there
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might not even be a right answer we're
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expected to draw on all of our
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experiences to come up with what we
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think is the ideal solution at the end
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of every class and did you feel like you
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have control over that like if the
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behavior just like I can get a good
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bonus through my efforts yeah because
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the way you were going to desert here
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just as they tell you as I harvest that
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is double two covers around how exactly
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you slice the other have some fun how
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many times you you know you get one
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research research results leader a lot
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of times patients will describe many
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like nothing it was perfectly acceptable
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and no I wanted to do what in 2001
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diction island actually made sure that
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it was nothing to be found out there
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yeah very measurable right nice method
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means that you have to be on your toes
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you have to be ready at all times and
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that really fosters a dynamic exciting
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environment rather than sitting back in
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waiting for a lecture to come to you
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every one of my case discussions and the
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case discussions across Darden starts
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with what we call a cold call now the
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beauty of the cold call is I randomly
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select a student in the room and it
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could be anyone and I ask them to take
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us into the business problem at hand now
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that student might spend the first 10 to
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15 minutes describing the background of
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the problem potential solutions concerns
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about those solutions and knowing that
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you could be asked to provide that basis
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for the rest of our discussion
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it's a powerful motivator to students to
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come prepared to class to be truly ready
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to be engaged in the discussion about
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the topic that day but let's start start
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why it's begun you so and this is a
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as a standard mutual fund and what
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they're trying to do is figure out they
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might have to manage the compensation
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structure to maximize analyst and
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portfolio manager ed assess these people
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fund in that it really values kind of a
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collaborative culture and it doesn't
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have the learning comes from the
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discussions in the comments of the
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student which may be different from
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class to class so how do you make sure
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that they're on the same page by the end
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of that class and that's where the
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nature of case case teaching comes in so
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we use a Socratic method so at the end
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of the day I don't teach anything I ask
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questions of the students and so if I
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sample across the students and find that
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some of them are having a hard time
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understanding one concept or another
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I'll look for a student who seems like
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they've mastered that concept and use
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them and their experience and their
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understanding to try and help everybody
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get on the same page but here the
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structure is so different we talked
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about this two-and-twenty before what is
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the to and what's the twenty again or
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Mike what's the - what's apply choose a
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management ring so that's going to be
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probably about double or you know thirty
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percent higher you see in a regular me
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sofa and then twenty is a hedge fund
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share of the profits they produce
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perhaps over a benchmark wrap and so
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that 20 doesn't exist at all yeah so you
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think about all the individuals who are
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involved in this discussion have very
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different backgrounds and experiences
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now on one hand you might think that
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will make it difficult for them to have
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a discussion about a single topic but
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most business decisions require
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perspectives across the spectrum
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political matters financial matters the
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community and the social implications
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matter and so having different people in
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the room with those different
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perspectives and as a faculty member
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understanding what those perspectives
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might be and who could contribute in
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different ways allows us to have a much
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more complete discussion I think it's
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impossible to have case method learning
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that isn't influenced by the people in
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the class because the professor's don't
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teach and I use that term lightly but
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the professor's don't give you the N
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sir if no one had experience and no one
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did the work the classroom would be
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silent one of the most important I think
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trends in global business education is
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understanding the importance of having a
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global classroom now it's one thing to
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have classmates from other countries
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other cultures it's another thing to
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have them help teach you
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she's exactly what the case method
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requires of students now let's talk
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about the characteristics of an
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effective bonus right so glamorize talk
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to so so what was give it some
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description I don't have to tell US
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dollar numbers it says a key to pretend
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a favor it was true in 20 I was breaking
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the heads book okay so when we think
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about effective like a bonus that
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actually works so okay so it was a to it
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but why was that motivating why was it
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you did a performance there was no but
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that's it that's pretty much how it
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works okay and when you say perform how
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did you get that box what do you need as
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I told before us introduced above their
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head to history yeah
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no you awful teacher above your guess
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20% that's someone's old work but it
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works one minute decide how much each
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person difficult add Funds yeah Elmo's
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possible so when you think about that
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right so this pirate each the
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investments in portfolio management
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courses in the second year and these are
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both courses that are quantitatively
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pretty intense and it's important to
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know how to use those quantitative tools
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and sometimes the students have to learn
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those in advance but the case setting
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allows you an opportunity to then apply
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them to make real-world decisions so
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it's one thing to do a problem set to
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try and figure out how to use the
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quantitative tool it's a very different
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thing to then say okay I can views it in
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this real word scenario and what kind of
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investment decision does it help you
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line this passive fund and I want to
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know
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I don't think you could do first year at
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Darden without your learning team there
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intentionally set up so it's a diverse
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group of people with a diverse group of
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experiences meaning there's a relative
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expert on every single case you look at
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so beyond just having the experience of
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hey I'm going to have this person take
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the work over here I'm going to take the
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lead here to just divide work really it
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becomes the ability to bounce ideas off
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someone else especially where if you
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don't have experience you can lean on
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your learning team member when you take
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the lead on the case and do your best
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get yourself 90% of the way through and
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they can kind of hold your hand through
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the rest of it so for me a learning team
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really taught me how to depend on others
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how to pull from their experiences and
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it was really a good way to practice
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telling your story and telling your
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answer because if you can't explain it
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to the six people sitting in front of
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you it's pretty challenging to explain
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it to 65 in your section that's a Jay
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you're telling them the NFS chooses to
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pay that manager as well as the growth
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thing so they did over the short run the
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argument would be over the long term you
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kind of get these cycles that may offset
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each other a little bit and
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realistically if your value management's
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the first day of class one of the the
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big improvement is you kind of learn how
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to be patient and measure yourself in
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the flow of the case discussion so
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everyone gets in their first day and
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they're really eager to get in there
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points think it's the most important
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thing the correct answer the right
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answer and to do that you kind of lose
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sight of the process so instead you take
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the chance to sit back learn where you
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can add if you have more experience
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maybe you're going to sit back and say
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all right let's let the conversation
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flow a little bit and then I can jump in
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and say hey here's what I did in my
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previous role whereas it's a class word
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you might not really know what's going
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on that's when you kind of learn to jump
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in throw your questions out give it a
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shot because you know taking that chance
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is really how you start to learn if I
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try to maximize this component of my
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bonus it'd be hard to know how to do
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that right because all of this becomes
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more moral pact okay let's say you go
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yeah it sounds like this whole process
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is very timeless
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I've been sitting on the corpse of
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people were review signs coming out of
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cars that are having people look at them
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and determine the compensation and I
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think they talked about how they did
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compensate the people that were deciding
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this but if you have a day job I mean
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this doesn't seem like a good use of
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people time yeah so you think about the
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people who are doing it - I mean - at
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the firm are we spending days and days
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and I rented some low-level employee it
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smells I mean almost and it seems like
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if you really want people to do a good
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job and spend highly subjective review
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that's just it's asking a lot of their
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time and I think you're going to
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keywording it's hard doing it and then
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they saw Kenya Terra claiming this forty
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percent is somewhat you know not as
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important I think yeah so time-consuming
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right whereas this is the one industry I
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can think of where the measure that we
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care about is most clearly defined as a
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faculty member I get real energy when
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the students have an aha moment when
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they truly understand a concept that
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maybe they'd studied before but hadn't
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quite fully grasped and the beautiful
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thing about case method versus a lecture
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setting is they tend to have a lot more
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of those partly because they're prepared
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partly because they're listening to the
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insights and guidance from their fellow
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students but largely because they're
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dealing with a real-world issue and
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trying to find a solution to that
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real-world issue and when our students
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return for alumni weekends for other
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events they're always talking to us
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about how Darden prepared them for their
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current career case teaching has this
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benefit in that not only do you learn
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the actual technical skills but you're
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able to voice them in a way that in a
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business meeting with other colleagues
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at your work you can communicate your
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perspective clearly if there's one thing
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that defined the Darden experience for
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me it's the case that everyone will
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remember as an alum called George's
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t-shirt it's a lot of analysis it's a
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lot of work and what really stood out is
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the professor took 20 minutes to walk
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through someone's analysis that was
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wrong by walking through that wrong
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answer we got to see how an analysis
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went off the rails and how to explain
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the correct way of thinking and
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so in a way that really brought it all
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together and made us all understand what
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was going on in that case and really
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tied the learning experience together
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