Journal of Business Management & Social Sciences Research (JBM&SSR) ISSN No: 2319-5614 Volume 1, No.3, December 2012 _________________________________________________________________________________ www.borjournals.com Blue Ocean Research Journals 13 Case Study Method of Teaching In Management Education Dr .Suresh Reddy Jakka, Assistant Professor, Department of Business Management, Mahatma Gandhi University, Nalgonda, Andhrapradesh, India Sita Ramanjaneyulu Mantha, Head & Associate Professor, Department of Business Management , Adarsh P.G.College of Comp.Sciences,Mahabubnagar,Andhrapradesh, India ABSTRACT Management Education is dynamic in nature and need diverse information to handle different management problems. Management student’s should undergo in depth training to learn the management concepts. To understand the peculiar situations and to handle them effectively, case studies are widely used. The case study method helps the students in developing wisdom and gives lot of scope for application of knowledge. The purpose of the case method is to bring into the classroom “a chunk of reality, ”which is complex and multi faced, it follows that teaching cases should present, as a whole, a balanced view of the many dimensions of the organizational life. Key Words: Case Study Method, Management Education, Decision making, Faculty Role, Competitive Advantage. INTRODUCTION Let no man ever contemplate an act ill-conceived and ill-considered, ill-done without proper scrutiny. Inspect a matter with utmost care before reaching conclusions and rushing into actions; else, bitter remorse is let loose. — Panchatantra Indians are credited with the invention of the zero, as well as algebra and its application of astronomy and geometry. What has been discovered by modern progressive sciences had been already expounded and mapped in those thousands of years old ancient philosophical scriptures in India. So also this Case Study Method. The Great King (Chandra Gupta) Bhatti Vikramadithya cracked several cases put forth by the vethala. They were all cases where wise decisions were made in the context of that peculiar situation. Pancha Thanthra stories followed an unique way of enabling learning by children. They teach morals to be imbibed in the minds of children. Abimanyu learnt cracking of Padma viyugam from womb, as was described by Lord Krishna. Paramartha Guru and His Five Sishyas teach our children how ignorant they should not be. These are all nothing but case studies under different names, enabling the reader or listener to position himself in that situation and think and act swiftly. In the 5th-century BC, the philosopher Lao-Tse (also Lao-tzu) wrote "If you tell me, I will listen. If you show me, I will see. But if you let me experience, I will learn." And so began one of the first active learning philosophies. Other Chinese philosophers, such as Kung Fu-tse (Latinized as Confucius) and Han Fei-Tzu, followed Lao-Tse by using a method that closely resembles what we now call the case method or case study. In Management Education Case Method of teaching may be used like practicals in science. But in science we get the unique answer at all times under given circumstances, where as in Management it varies based on time, environment ,competition and people. Literature review: In an ambiguous and uncertain world, the most difficult part of decision making is not choice making , but sense making (weick, 1995). That is , how to digest the in(formation “to structure the unknown” (Waterman , 1990:p. 41). In that sensce , the most critical task of business education is not about teaching students analytical tools but developing appropriate “mental models.” The case method plays an essential role in management education (Banning, 2003; Dooley & Skinner, 1977). According to “an introduction to cases” published by the Harvard Business School, the function of a case is to provide a “ description of real business situations that serve as a metaphor of a particular set of problems” ( Shapiro, 1984: 1). Lawrence(1953: 215) described a case as “the vehicle by which a chunk of reality is brought into the classroom to be worked over by the class and instructor.” Erskine , Leenders , and Mauffette Leenders (1981: 10) defined a case as “a