Longbow Capital Partners is a value-oriented long/short hedge fund focused on stocks in the energy sector. In January 2011, Longbow invested in NiSource, a Fortune 500 company that owns a diverse portfolio of regulated energy businesses. In late 2014, Longbow was deciding whether or not to maintain its position in NiSource. To make this decision, students must perform a discounted dividend analysis to determine the fundamental value of NiSource's stock. Students are also asked to perform a sum-of-the-parts analysis to assess the implications of NiSource's recent proposal to pursue a tax-advantaged spin-off its pipeline business.

Max Ventilla and his team launches in 2013 AltSchool, a new network of tech-savvy independent K-8 "micro-schools." AltSchool is born out of Ventilla's frustration with the education options available for his young daughter. During his search, Ventilla comes to the conclusion that American schools are not adequately preparing students for the future. Ventilla leverages his network and his expertise in personalization developed during his time as a serial entrepreneur and a founding team member of Google+; he sets about recruiting engineers, educators, VC investors, and families to set in motion his mission to provide high-quality personalized education that will change the way parents, students, and educators experience the school day. Ventilla focuses on three aspects: 1) using technology to reduce operational costs of the traditional school, 2) intense focus on customer service and reframing school as a service for parents, teachers, and students, and 3) using technology and data in the classroom to create a continuous improvement cycle. As Max and the AltSchool team wrap up their first year in operation, they reflect on lessons learned from their iterative process; they reflect on the best ways for the team to grow their network of schools, to demonstrate success to their investors, and to have an impact on changing education in America. The case gives students the opportunity to explore how an education technology company can build new education technology tools, and alter school structures and funding models to set the stage for a new model for the education sector.

Case traces the design and development of the Boeing 787 Dreamliner. Emphasis is on executive leadership and firm strategy in coordinating across a global network of partners in the production of a new aircraft.

Quincy Apparel designs, manufactures and sells work apparel for young professional women that offers the fit and feel of high-end brands at a lower price. In late 2012, Quincy's cofounders are debating how to approach a crucial board meeting. Their seed-stage startup is running low on cash; to survive, they will need more capital, probably in the form of a bridge loan from existing investors, who will attend the board meeting. Quincy's sales have been strong, but due to the company's novel sizing scheme, which provides more measurement dimensions than typical women's clothing, inventory is high and operations are complex. Operational challenges have made it difficult to consistently deliver better fit, and merchandise return rates are high. With more time and capital, the cofounders are confident they can resolve operational problems. But will they be able to persuade investors to provide more capital?

The (B) case provides post-mortem analysis from Quincy's cofounders on why their startup failed and what they could have done differently. Explanations for failure focus on Quincy's ambitious value proposition and resulting operational challenges; cofounder conflict; poor approaches to hiring and motivating employees; a dysfunctional relationship with lead investors; and shortcomings in Quincy's go-to-market plan.

For the co-founder and CEO of Booster Juice, Canada’s largest chain of juice and smoothie bars, international expansion was integral to the firm’s strategy, especially as the Canadian market matured. However, working with business cultures and practices in different countries was a major challenge. Booster Juice had been opening three stores per month through the end of 2013, and the CEO was re-examining Booster Juice’s international operations, including those in India, where Booster Juice had 18 stores. The CEO was contemplating considerable expansion in the Indian market, which had great potential but presented many challenges. He wanted to open many more stores in India, but existing stores showed merely average performance. Could India provide the sustained market growth that the CEO desired? What would be the perfect approach to India’s complex market?

MedCath is a horizontally integrated chain of heart hospitals that partners with local cardiologists. It claims that its focus leads to better and cheaper results than those of an everything-for-everybody general hospital. Community hospitals generally vehemently oppose their entry into a new area. What options does MedCath have?

Mibanco, a microfinance icon, is for sale and Edyficar, owned by BCP, Peru's largest bank, is evaluating its acquisition. Until recently, such a transaction would have been fanciful given Mibanco's pre-eminent role in Peruvian microfinance which has made it the country's fifth largest bank. The case examines why Mibanco is on the block, while also relating the evolution of Edyficar and its own acquisition by BCP (Banco del Credito) several years earlier. Percy Urteaga, Edyficar's CEO, and Gianfranco Ferrari, the chair of his board and senior BCP executive, must decide whether to go forward and, if so, at what price.

This technical note provides a history and context for corporate venture capital (CVC) investment, or the practice of corporations making equity investments in startup companies outside their core business. The note outlines the growth of CVC, from its inception in the 1960s through its maturation today, and explores companies' motivations for making these types of investments, which typically involve a combination of both financial and strategic goals. In addition, the note explores how CVC units within companies are structured, how they evaluate and finance investment opportunities, and how they generate business value for the parent company.

This case investigates the issues involved in a private equity (PE) firm's decision to invest in the debt of a distressed leveraged buyout. The analysis has been purposefully simplified to involve only two classes of outstanding debt, senior debt and junior debt, so that students do not need to have detailed knowledge of the bankruptcy process to complete the analysis. The main analytical task requires students to compute the expected internal rate of return for two debt-investment strategies. This case has been successfully taught in a second-year elective course covering entrepreneurial finance and PE, and in an undergraduate course on PE. The case is appropriate for use in classes on PE, debt restructuring, advanced corporate finance, or deal valuation.

This case investigates the issues involved in a private equity (PE) firm's decision to invest in the debt of a distressed leveraged buyout. The analysis has been purposefully simplified to involve only two classes of outstanding debt, senior debt and junior debt, so that students do not need to have detailed knowledge of the bankruptcy process to complete the analysis. The main analytical task requires students to compute the expected internal rate of return for two debt-investment strategies. This case has been successfully taught in a second-year elective course covering entrepreneurial finance and PE, and in an undergraduate course on PE. The case is appropriate for use in classes on PE, debt restructuring, advanced corporate finance, or deal valuation.

The head of human resources at Attock Refinery Limited was trying to evaluate the company’s existing performance appraisal system in the context of the forthcoming refinery expansion project as well as looming changes in industry dynamics. Over the last few decades, the performance management system at Attock Refinery had undergone significant changes as a result of both internal and external factors. The modified performance management system had solved certain issues, but other challenges remained. The company wanted to determine whether the changes in the performance management system were effective in managing several administrative tasks (e.g., promotion and fixing performance increments), development activities like training and, above all, the fulfillment of Attock Refinery's strategic aim to inculcate a company-wide culture of performance.

In helping to liberate one-fifth of the world’s population from colonial rule, Gandhi became a paragon of visionary leadership. Yet despite hundreds of biographies, the man remains an enigma. In fact, his greatest achievements as a leader might be waiting to be discovered. This article looks to dispel myths about Gandhi in order to reclaim him as a human being and draw leadership lessons from his successes and failures. It shows how Gandhi’s life offers many great leadership lessons. For example, not all people share the same values, so leaders must understand their own and others’ values and intentions. It is not always wise to be good to a fault; discretion can be the better part of valor. Moderation is a hallmark of wisdom. Leaders do not do what they like to do; they do what needs to be done. Ultimately, while Gandhi was indeed great, his greatness lies not only in what he accomplished, but in what he did despite his human failings.

This case examines Communauto, North America's first carsharing organization, which is based in Montreal, Quebec, Canada. The case focuses primarily on Communauto's CEO, Benoit Robert, as he builds on his success and ponders how to make carsharing even more widespread and environmentally impactful. Unlike many sustainability oriented cases which focus on translating a 'concept' into a viable enterprise or offering, this case focuses on an organization that is already established, is financially sound, and is attaining its environmental objectives. Students examine how the founder can address the inevitable tension between growing the business and pursuing his ambitious goal of meaningfully reducing the environmental impact of personal transportation. It illustrates a for-profit model of social entrepreneurship in a North American context, providing a contrasting focal point to the multitude of cases that depict not-for-profit social entrepreneurship initiatives in less developed countries.

In January 2013, Mike Johnson, CEO of Headwaters Software, was weighing the opportunity to diversify into a new but related market. Despite being a small company, Fisdap, as everyone called it, was the leading provider of software solutions and content to students and educators in the field of emergency medical services (EMS). Since its inception, Fisdap had played a key role in facilitating new ways to track and manage clinical internships of EMS students. Now, it appeared that educational programs for other healthcare occupations were likely to adopt methods similar to those now used in EMS. Johnson had recently returned from a visit to a community college using Fisdap's EMS software, which had requested Fisdap to consider developing solutions for their nursing program as well. Nursing education was a large market, offering substantial growth potential for Fisdap. However, entering the market involved a number of risks, and meant that the company would move away from its existing strategy and direction. Johnson was concerned about whether the company could manage growth while maintaining its company culture and conservative approach to financing. Furthermore, the size of the nursing education market might entice larger competitors than Fisdap had encountered to date. Johnson felt that the nursing education software tools market might develop rapidly, so if he was going to enter, he had better do it now.

This case describes the circumstances that led the City Council of Denver, Colorado to consider outdoor advertising restrictions on the medical marijuana industry in 2012. It is written from the perspective of Michael Elliott, executive director for the Medical Marijuana Industry Group (MMIG), a trade association representing over fifty Colorado businesses. The MMIG was founded in 2010 "to help protect and promote the Colorado medical marijuana regulatory framework, serve as a responsible resource for policy makers, and protect the rights of medical marijuana patients." The decision facing Elliott and the MMIG was whether to support the Council's proposed motion (banning outdoor advertising within 1,000 feet of schools, parks, and daycares), oppose the motion, or come up with an alternative proposal for regulating outdoor advertising in Denver.

Roger Cosgrove had to make a decision on what to do with his employee, Jennifer Johnson, whom he learned had allegedly stolen $120,000 from his former business associate, Michael Libretti. He was conflicted by the ethical dilemmas this issue raised. In April 2011, Cosgrove had a chance meeting with Libretti at Libretti's place of business, Starbright Jewelers. Cosgrove and Libretti once operated Starbright in a joint operation but, because of changing economic conditions, dissolved their joint operation amicably in 2008. Johnson, who had worked for both men at Starbright, elected, at Cosgrove's request, to follow him to his new business venture, Silver Shine. She continued to work part time on Saturdays for Libretti at Starbright, to supplement her income. Cosgrove and Libretti had remained friends, and occasionally met to catch up on news. It was at one of these get-togethers that Cosgrove heard from Libretti the accusation of theft. Johnson had left her part-time job at Starbright in 2010 on her own accord. When Libretti subsequently hired a replacement for Johnson, he discovered through the replacement's efforts that Johnson stole about $120,000 from him from 2004 through 2010. After Libretti shared with Cosgrove this story, he asked Cosgrove what he, Cosgrove, was going to do, in Libretti's words, "with the thief who is working for you now." Cosgrove had to balance the competing needs of the many persons who had an interest in his decision. He wanted to protect his business, his reputation, and his customers from exposure to a potential thief. He wanted to protect his family's well-being and also to be supportive to his business associate, Libretti. Even so, he felt that taking action on Johnson was assuming she was guilty already, without benefit of any investigation. He sought advice from several sources, and was frustrated that there was no clear direction to follow.

India had long suffered floods during the monsoons, droughts during the dry seasons, and periodic death causing famines during multi-year droughts. The old canal-based irrigation system developed by the British had crumbled from neglect and wealthier famers had turned to wells. Water shortages were compounded by the rapid population growth in India and water pollution. Dinesh Shindey had been asked by the prime minister to chair a task force to study the social, environmental, technical, and economic aspects of the proposed River Linking Project. It was a massive federal government project that required the construction of 34 new dams, 94 tunnels, and 12,500 kilometers of new canals. Proponents believed it would greatly increase the supply of water, but opponents believed it would never work as designed. Many simply believed that it was impossible to complete such a massive project in corruption plagued India. A former Secretary of the Ministry of Water Resources of India named S. Kannan believed that the solution to the water crisis in India lay instead in a decentralized approach based on conservation, the completion of numerous small, decentralized regional and local projects, and in managing the demand for water. After meeting with S. Kannan, Shindey's task force would write their recommendations in a report that would become a basis for how India would respond. This case presents a complex multicriteria decision problem that requires students to examine the relevant political, economic, cultural, environmental, and legal aspects as related to a wide-ranging mix of stakeholders. Students can assign probabilities and do a decision tree analysis before looking at the situation through the rational, incremental, and garbage can models of decision making. The case illustrates both how carefully humans need to manage natural resources in the face of rapidly growing demand and also how incredibly complex it is to manage such resources in a democratic system.