Here are the top 10 case studies every MBA student should know

• MBA students should expect to read case studies, or real-world examples of why businesses succeed or fail. 
• The case-reading practice in business schools was originally pioneered at Harvard, where the MBA curriculum requires students to read up to 500 cases during their two-year program. Other business schools eventually adopted the Harvard case method, preparing students for future leadership challenges. 
• Business Insider has compiled a list of the most influential cases recommended by business school professors. 
• One of the cases include how Apple's name change in 2007 allowed the company to redirect its focus from solely Macintosh computers to the iPod, iPhone, Apple Watch, and streaming services. Today, computer sales only account for a tenth of the company's $1 trillion market capitalization, Business Insider reported. 
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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. 

The case method teaching practice was originally pioneered at Harvard Business School (HBS), where the MBA curriculum requires that students read up to 500 cases during their two-year program. The Harvard case method soon spread across business schools as professors sought to prepare their students with leadership and decision-making challenges in the workplace.

There are some classic cases that every business student should know — like why Apple changed its name.

Business Insider has compiled the most influential cases here, with recommendations from business school professors across the nation and abroad.

SEE ALSO: BUSINESS SCHOOL PREP: The ultimate guides to getting into the top MBA programs in the world

Why Apple changed its name

Case: Apple Inc., 2008

Key takeaway: Sometimes you can't take a rival head on.

What happened? Three decades after its founding, Apple Computers changed its name and became Apple Inc. in 2007. That reflected the company's shifted focus from its iconic Mac computers toward other digital products like the iPod, iPhone, Apple Watch, and media streaming services. Apple's widened niche led to skyrocketing sales and spiked share prices, putting the Cupertino company on a trajectory to become the first US publicly traded company with a $1 trillion market capitalization in 2018, Business Insider reported. Now, the Macintosh computer only accounts for a tenth of the company's business. Rather than beating rival Windows for more shares in the computer market, Apple reinvented itself and redefined the realm of digital devices. 

Thanks to Dr. Aaron Chatterji, Professor at Duke University's Fuqua School of Business, for his suggestions.  

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? On December 11, Lululemon announced its third-quarter fiscal results. Between August to November, the retail company generated $33 million, increasing its net revenue to $916 million in 2019. Much of the 21-year-old brand's transformation is credited to former CEO Christine Day, who leveraged her experience in expanding the Starbucks brand worldwide to align with Lululemon's model. 

Day replaced founder Dennis "Chip" Wilson in 2008, and she stepped into her role facing many problems: Outperforming stores, hefty investments in low-demand locations, and poor workflow between teams. 

She convinced the founders to attend management programs at Harvard and Stanford so they could better understand how the company must change. Day nearly tripled her team from having 2,683 employees in 2008 to 6,383 in 2013, all while she redesigned the company's structure, according to Pitchbook data. In five years time, she turned Lululemon into an athleisure powerhouse. 

Day stepped down as CEO in 2013 after a series of quality control issues with the clothing, Business Insider reported. She is now the chief executive at Luvo, a frozen food company. 

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management  at UC Berkeley's Haas School of Business, for her suggestions.

How Cisco bounced back

Case: Cisco Systems: Developing A Human Capital Strategy

Key takeaway: Invest in developing leaders in your team

What happened? Cisco is one of the most acquisitive companies in tech. It buys about 10 companies a year, including a $2.6 billion acquisition of Acacia and $380 million purchase of chip company Leaba in 2019, Business Insider reported. 

During the Dot Com Bubble in the 1990s, Cisco's first priority was to scale, bringing in up to 1,000 new employees each month by buying smaller firms. Between 1991 and 2011, Cisco bought more than 140 companies, Business Insider reported. 

But scaling a startup is much more than just increasing headcount. When the Dot Com Bubble burst, then-CEO John T. Chambers realized he had to redirect his focus by developing leaders within the team and build on his company rather than buying more teams through acquisitions.

The company introduced "Cisco University," a training program to promote a versatile workforce. Within three years, the company was listed as one of the top companies where employees are most likely to become leaders. Today, Cisco has a learning network that offers various kinds of classes, certifications, and webinar programs around the world. 

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management at UC Berkeley's Haas School of Business, for her suggestions.

How USA Today reinvented itself

Case: USA Today: Pursuing The Network Strategy

Key takeaway: Sometimes the old guard can't handle a new reality.

What happened? Like many print publications in the early 2000s, USA Today was facing falling circulation of its business amid the rise of digital news. Tom Curley, the company's CEO at the time, saw the need to better integrate his company with internet and broadcasting platforms. His management team and staff were resistant, claiming insurmountable divides in culture and work style. Curley made the case that it was essential for the future of the business, and eventually replaced five of seven senior managers as part of the change. Nevertheless, this case emphasizes that what the company needed at the time wasn't a complete staff change: It needed a new business strategy and more integration as the company was transitioning into its electronic version. 

As of 2018, USA Today sites have nearly 97.4 million unique visitors and 1.2 billion page views, according to the company's website. It has become an award-winning digital news platform. 

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management at UC Berkeley's Haas School of Business, for her suggestions. 

How Dreyer's survived a disaster

Case: Dreyer's Grand Ice Cream

Key takeaway: Don't try to spin bad news or mislead workers.

What happened? Before rising to become one of the most popular ice cream brands in the US, Dreyer's had to overcome a company restructure.

In the late 1990s, Ben & Jerry's signed a distribution agreement with Häagen-Dazs and ended its partnership with Dreyer's, The Wall Street Journal reported. Despite still having contracts with Healthy Choice and Nestlé, Dreyer's was dealing with a variety of problems including high input prices and collapsing sales of a low-fat product line.

The company's executives flew all over the country and met with every employee to discuss the restructuring plan. They wanted to preserve the company's culture of openness and accountability. Dreyer's continued to invest in leadership programs, and the company was able to bounce back within a couple of years through consistency and effective communication with its workers. 

Dreyer's continued to experience fluctuating sales in the 2000s, which led the company to merge with Nestlé through a $2.4 billion deal in 2002, The New York Times reported.  

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management at UC Berkeley's Haas School of Business, for her suggestions.

How ethical decisions are different abroad

Case: Merck Sharp & Dohme Argentina, Inc.

Key takeaway: Staying committed to the ethical precepts

What happened? 2019 was a good year for US drug giant Merck & Co. Since it debuted the cancer drug Keytruda, the company's stocks has jumped almost 40% in the past year, giving it a market value of nearly $220 billion, Business Insider reported. 

One way to ensure Merck's increasing sales is if it was on the government's healthcare roster, and when managing director Antonio Mosquera joined the company's Argentine subsidiary, he was faced with an ethical dilemma.

Mosquera was tasked with transforming Merck into a more modern and professional business organization. During the selection process of a highly competitive internship, he had to choose between two candidates, one of whom was the son of a high ranking official in the Argentine healthcare system. 

It was implied that hiring the student would ensure that Merck's drugs would be included on the government's list, which would increase sales. It was a conflict between Mosquera's desire to reform, and the realities of doing business in a changing country.

Mosquera ended up picking the student who wasn't of high government prestige. 

Thanks to Dr. Timothy Vogus, Brownlee O. Currey Jr. Professor of Management at Vanderbilt's Owen School of Management, for his suggestions. 

Why Cirque du Soleil moved outside its comfort zone

Case: Cirque du Soleil - The High-Wire Act Of Building Sustainable Partnerships 

Key takeaway: Sometimes you have to move past an old partnership in order to grow.

What happened? Cirque du Soleil had a mutually beneficial and very profitable partnership with the MGM Mirage casinos. The casino made capital investments in theaters for the company's unique shows, and the shows brought in high-spending clients. Faced with opportunities in Asia and the Middle East, CEO Daniel Lamarre had to figure out how to create different partnerships.  

Thanks to Dr. Aaron Chatterji, Professor at Duke University's Fuqua School of Business for his suggestions. 

Why Airborne Express lost the delivery race

Case: Airborne Express

Key takeaway: Specialization can compete with economies of scale, but only up to a certain point. 

What happened? Airborne Express, a smaller mailing competitor to giants like FedEx and UPS, managed to significantly grow revenues despite its size. Part of that came on the heels of a strike at UPS, and the company took advantage of that. Airborne found a way to specialize in order to stay in the market along with big corporations like FedEx and UPS. 

They targeted high volume business customers, shipped primarily to large metropolitan areas, aggressively cut costs, and adopted new technology after FedEx and UPS. Ultimately, that strategy wasn't sustainable, and the company was acquired by DHL in 2003. 

Thanks to Dr. Gautam Ahuja, Professor of Management and Organizations at Cornell University's Samuel Curtis Johnson Graduate School of Management, for his suggestions.

Why Nucor Steel took a company-sized gamble

Case: Nucor at a Crossroads 

Key takeaway: Operations expertise has limits; new investment determines its scale. 

What happened? In 1986, Nucor's CEO Kenneth Iverson had to make a critical decision on whether or not to adopt a new steel casting technology that would allow the company to gain significant first-mover advantage and reduce costs in the long run. However, the company would have to make a huge investment, and technology back then was unproven.

In 1989, Nucor followed through with its ambition to build the world's first steel-making mill in Indiana. The company remains an industry giant, announcing a $250 million micromill set to be the first steel plant to run on wind energy in the US, CNBC reported. 

Thanks to Dr. Aaron Chatterji, Professor at Duke University's Fuqua School of Business for his suggestions.

How bad communication nearly ruined a manager

Case: Erik Peterson (A)

Key takeaway: The importance of being proactive in defining one's role and engaging in managing up to get the support you need

What happened? The case follows a recent MBA graduate who became the general manager at a subsidiary of a large cell phone company in the late '80s. Erik Peterson's group was in the process of building up to offer cell phone service in parts of New Hampshire and Vermont. The project was behind schedule, and Peterson had offered a plan to meet a revised target reviewed by headquarters.

Peterson had trouble with his immediate superior. He did not know who he had to report to, which created problems on both ends while he was attempting to complete a significant reorganization and had problems with his chief engineer. Because of the lack of support, Peterson had to go it alone in many ways.

Eventually, the company was restructured and Peterson's role became more clear.

Thanks to Dr. Timothy Vogus, Brownlee O. Currey Jr. Professor of Management at Vanderbilt's Owen School of Management for his suggestions. 

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