How To Write A Caselet 3f6g15

How to write a Caselet

This How To is based on a note by Prof. Rajeev Roy, Professor of Entrepreneurship, XIMB that is given to his students in the Entrepreneurship Course. Case writing is used as an assignment in this elective that he offers. He uses case writing as an individual assignment but feels that it does lend itself very well to being a group assignment as well.

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How To Write a Caselet Writing a caselet may be given as an assignment for students as part of an introductory course in entrepreneurship. This is a guide can be provided by the faculty to the students with relevant details of the assignment. This document will guide the students on how to develop an entrepreneurial story into a caselet. It provides them with the process of data collection, interviewing guidelines and essential writing tips.

Introduction: Entrepreneurial Stories are always a great source of motivation and inspiration. They serve as good examples for anyone interested in new venture creation. It may do well for you as students of entrepreneurship, to study the case of an entrepreneur(s) to understand the various facets, issues and challenges in starting and growing a business. Hearing about the journey directly from the entrepreneur and compiling his story can be a great learning experience. The case need not be always about a successful entrepreneur to know what helped the success; studying a not so successful entrepreneur to understand what lead to the failure will provide you with valuable lessons learnt from the experience. In fact, little is spoken about a failed venture as against the frequently discussed glory of successful ventures.

Why would the entrepreneur co-operate? This may be the question on top of your mind – Why would the entrepreneur co-operate? The entrepreneur may simply be glad to contribute to academic literature. Often entrepreneurs are more than willing to share their learnings, especially, to encourage students wanting to be the future entrepreneurs. Sharing the entrepreneurial story is also a good way of getting exposure and building publicity for the venture. Normally, this is a classic win-win situation for all concerned.

Getting started Leads for the story can originate from a variety of sources. Business publications like Business world, Business Today and Economic Times are good places to pick up recent information on entrepreneurs. You may have an inclination to write about your favorite entrepreneurs. You may also make a decision based on your interest in a particular function or a sector. Sometimes you may be very specific about the kind of problem you wish to investigate, for example, Reactions in a price war. All the above are good starting points. Once you have decided on the subject of your case, you can go ahead with your first field visit.

Field visit Often, you may have to make a series of visits to the company/office or place of business of the entrepreneur. You may directly approach the company or if you have anyone acquainted to the entrepreneur, you may go through their reference. Being a student usually gives you a good port and easy access into any organization. If you choose to go directly then ensure that you do the following:

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The first field visit is important to: • • • • •

Approach the entrepreneur with your request Get a feel of the company and its business environment Identify the issues to be focused on Identify and get access to data sources Identify other interviewees and liaisons

The subsequent visits should include efforts to obtain past financial data, informal semi structured interviews with employees, business associates and customers.

It is suggested that an interim submission be made to the faculty at the end of the initial field visits. The interim submission can include • Focus of the story • Information needs • Identification of data sources and interviewees This can help to ensure that you are on track; it also allows the faculty member to channelize your efforts and review your work as you progress through the assignment. Next Steps The natural next step would be to schedule the interview with the entrepreneur.

Collecting back ground information before the interview Other than published news items, financial records of the company and industry reports will contribute greatly in getting the full picture. The internet is obviously is likely to be a great source of information about the company and the industry. Obtaining as much available information before meeting with the entrepreneur will be a good way to use his time well. This will help you focus on other important aspects that you would like to know. Guide to interviewing Interviews are probably the most important means of getting qualitative information and of getting leads on quantitative information. Some simple rules of engagement are listed below: • • • • •

Start with non-probing, general questions to get a flow of words going. This is to ensure a minimum comfort level in the interview. It might be preferable to go with a set of prepared set of questions and have a relatively unstructured interview built around those questions.(See Entrepreneurship Lecture Series on www.nenonline.org) Listen attentively. If possible, record electronically instead of taking notes. Be sensitive to the concerns of the interviewee Pleasing manner and politeness will help you build the rapport with the entrepreneur

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Writing the case After collecting all data and relevant information, it should all be put together carefully. Most importantly, one has to that: 1. An entrepreneurial story is not a rambling of entrepreneurial success but is focused on particular issues relating to entrepreneurial management. 2. Packaging all information relevant to the situation being described will benefit anyone reading it. 3. The length of the case depends on the details that you would like to cover but a very lengthy case can be avoided. 4. Sometimes, data, numbers, dates, names or brands may have to be disguised to preserve confidentiality. The students should be willing to do this if the entrepreneur so desires.

Helpful tips for writing the story: • • • • • •

Use simple language State the issue being addressed very early and clearly. Divide entire text into several sections Sections should be ordered logically Irrelevant data and information should be removed In case the story is found suitable for being used in class for a case discussion, it will work well if the you contribute in writing a teaching note and provide substantial information on the situation

Example Please refer to Appendix 1 of this document, for such an example.

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Appendix I Given below is a case developed by as an assignment for the Entrepreneurship Course offered by Rajeev Roy, Faculty Leader- NEN and Professor of Entrepreneurship - XIMB.

YEARS DOWN THE LINE The bill arrived early last year. According to the notice, Niraj’s nightclub, Aqua Java, owed Rs.170,0000 in overdue real estate taxes. It wasn't the first indication of trouble at the club -which Niraj had entrusted to his childhood friend Ashish after moving to Kolkata and starting a new business. And it wouldn't be the last. Staring at the notice, Niraj wondered whether mixing friendship and business had been such a great idea after all. Aqua Java had been a Kolkata’s institution since the 2007, helping launch the careers of DJ’s such as Prince and the Rock. But revenue at the club had been sliding since 2002. Niraj’s relationship with Ashish was suffering as well. Since moving west in 2001, Niraj had little direct involvement with the nightclub. Though he reviewed quarterly financial results and wrote the occasional check, he no longer knew who was headlining on a Saturday night; he visited just once a year. For a couple of years, the arrangement had worked out fine. But Niraj had come to regret his hands-off approach. Was it too late to step in and save his business? Doing so would not be easy. Niraj and Ashish had been pals since they were 8. In 1989, at the age of 25, Niraj signed a lease on a former Bhawaipore bus station in downtown Kolkata and transformed it into a live music venue, the Depot, which he later renamed Aqua Java. Ashish soon ed him. Though Niraj was the club's sole owner, the two ran the place like partners. Niraj focused on marketing and strategy, while Ashish, a A, maintained the books. Nightclub veterans Steve McClellan and Jack Meyers handled day-to-day operations, from overseeing the bar staff to booking acts. Throughout the 1990s, the club was a critical and financial success. In 1999, Aqua Java was the setting for Prosenjit’s cult movie sosurbari zindabad, which sent the club's fortunes soaring even higher. But the years of late nights and loud music were taking a toll, and Niraj was getting burnt out. In 1988, he and his wife, Rose, decided to focus on a more subdued business in a warmer climate. They moved to Marin County, Chennai, where they established a fine-art publishing company in canteen road and an art gallery in Park. Niraj says he never had a doubt about leaving Aqua Java in the hands of his buddies back home. "I knew these guys shared my objective to keep the arts alive in Kolkata," he says. "I thought they would never do anything to risk losing it." And Aqua Java continued to prosper. In fact, Niraj was so pleased with the business that in 2000, along with Ashish, McClellan, Meyers, and Niraj’s brother, Ron, he formed a partnership that purchased the building that housed the club. Ashish, for the first time, now had a financial stake in the business; indeed, he was the building's largest single shareholder, though Niraj remained sole owner of the club itself. But two years later, things took a turn for the worse. "After Kolkata Pantaloons attack, people didn't want to come out in big groups to see music," says Meyers. What's more, R&B and hip-hop had grown increasingly popular in the Twin Cities, making Kolkata’s all-rock format seem outdated. Meanwhile, a slew of new bars and clubs were cutting into the club's customer base. In 2003, revenue plunged nearly 25%, to Rs.3.9 million, Niraj says. He urged his associates to shift the club's strategy by scheduling more DJs and dance nights. But Ashish disagreed, insisting that the club remain true to its rock 'n' roll roots. Now that his own money was on the line, he was in no mood to compromise -- and McClellan and Meyers agreed. "In this industry, you have to roll with it and hang on through the trends," McClellan says.

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As Kolkata’s financial problems mounted, the arguments increased in both frequency and ferocity. Niraj was horrified when Ashish spent some Rs.2,000,000 on renovations, which included a plush new VIP lounge. His trust in his old friend eroding, Niraj decided he had to make a drastic move. If he allowed his buddies to continue running Aqua Java their way, he was convinced, the business was bound to go bankrupt. But if he returned to the club, things could get ugly. For Niraj, it was beginning to look like a no-win situation. The Decision In March 2003, shortly after getting the bill for back taxes, Niraj fired Ashish from the club, sending the pink slip in the mail. Not long after, he boarded a plane for Kolkata and fired Meyers and McClellan, who had grown increasingly bitter after Ashish's departure. "Their loyalty went completely to Ashish," Niraj says. "I had to take back control." Commuting between Kolkata and Marin, Niraj immediately added a Latin dance night and more Top 40 parties. He repainted the club's interior with silver stars to appeal to a trendier crowd, added bright fluorescent lights to the entrance, and even replaced the nondescript black T-shirts worn by staffers with flashy gold ones. At first, the new plan appeared to be working. Over the summer and fall of 2001, revenue jumped about 15%, Niraj says. But the overall financial picture remained grim. One problem was that Ashish had green-lighted a number of raises and bonuses before Niraj arrived; increasing the club's operating expenses. Even worse, Ashish, Meyers, and McClellan all filed wrongful termination suits against their former boss, leaving Niraj with mounting legal bills. By the end of the year, the club had just Rs.4,000,000 in assets, against liabilities of Rs.8.4 million. Niraj consulted his attorneys, who advised him to cut his losses. Last October, he filed for Chapter 7 bankruptcy on behalf of Aqua Java. Losing his club after more than 4 years was devastating, he says. But what happened next stung even more. Ashish, McClellan, and Meyers formed a partnership and purchased the club's assets for a mere Rs.2,000,000. They reopened Aqua Java on November 20 -- without Niraj. Aqua Java has struggled to stay afloat since then. The club's full-time staff has been reduced from 30 to nine, and it's open only three nights a week. Ashish, who now splits his time between Kolkata and Bangalore, says his only involvement is as a landlord. And he has no regrets. "I can take credit for making sure that there still is music at First Avenue," he says. "I hope that Allan is able to be happy for what he has and leave it at that. I don't expect to be back in touch ever again." McClellan, for his part, still helps with the club's communications and strategy, while Meyers handles operations. Back in Mumbai, Niraj is dealing with the implications of Kolkata’s bankruptcy. The court says he still owes Rs.500,000 to creditors -- a ruling Niraj is fighting. Yet slowly, the nightclub that consumed most of his adult life is receding into history. Instead, he's turned his attention back to his art business, which now includes three galleries and generated Rs.5 million in sales last year. Still, he says, nothing can make up for the Aqua Java debacle. "Losing that club was like losing a child," he says. The Experts Weigh In It sounds like Niraj wasn't watching his own backyard, so he lost his club. While he wasn't deeply involved in Aqua Java on a daily basis, he had invested in it heavily. Obviously, his company's bylaws did not appropriately protect him from liability. A lawyer should have advised him that he was getting overextended. -----------------------------------------------------

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