Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2009 to 2013. Examples of project-financed investments include the the Kashagan oil field development in Kazakhstan (1997), the $1 billion Port of Miami Tunnel (2007), the $54 billion Gorgon liquefied natural gas (LNG) project in Australia (2009), and the $6 billion Oyu Tolgoi copper mine expansion in Mongolia (2014). Globally, firms financed a record $415 billion of capital expenditures using project finance in 2013, and the use of project financed-investment has grown at a compound rate of 8% over the past 15 years despite several macroeconomic crises.This note focuses primarily on private sector investment in industrial and infrastructure projects and contains four sections. The first section defines project finance and contrasts it with other well-known financing mechanisms. The second section describes the evolution of project finance from its beginnings in the natural resources industry in the 1970s, to the U.S. power industry in the 1980s, to a much wider range of industry applications and geographic locations in the 1990s and 2000s, and most recently to infrastructure finance in the 2010s. The third section provides a statistical overview of project-financed investment over the last five years (2009 to 2013) and looks at industry, project, and participant specific data. The third section also provides recent data on infrastructure investments and public-private partnerships. The final section discusses current and likely future trends.
At the close of open-enrollment in March of 2014, Kevin Counihan, CEO of Access Health CT, Connecticut's state health insurance exchange, stops to consider the success it has experienced so far and think about how to ensure its long-term sustainability.
When Reckitt Benckiser (RB), a leading consumer goods company, first entered China, it encountered significant challenges. RB's strategy relied on selling high margin products supported by cost-effective advertising and distribution, but the highly competitive Chinese market made it hard to sustain high margins, inflated television advertising rates made marketing expensive, and an inefficient distribution system increased costs further. In 2010, RB managed to overcome these constraints for one of its brands, Durex, the best-selling condom brand in the world, by leveraging Chinese social media platforms and investing in offline and online distribution. The new strategy paid off - Durex condom sales increased threefold in China and market share increased by over 10%. RB now wanted to generate the same results for its other brands in the country, and needed to decide how to balance investments in offline distribution, social media campaigns, and e-commerce in order to keep growing not just in China, but in other emerging markets as well.
Starbucks Coffee Company: Transformation and Renewal analyzes the turnaround and reconstruction of Starbucks Coffee Company from 2008 to 2014 as led by CEO and co-founder Howard Schultz. The case offers executives and students an opportunity to examine in depth how Schultz and his team saved Starbucks from near-collapse, by both executing a deep, comprehensive return to its core values and, at the same time, investing in a range of new products, customer experiences and organizational capabilities designed to make the company fit for enduring success in a turbulent global economy. Set against the backdrop of the Great Recession, the case also considers the impact of unprecedented important shifts in consumer spending and confidence as well as new competitive forces on Starbucks' transformation. The case concludes by examining Schultz's own leadership journey, the lessons he learned personally during Starbucks transformation, and how he is using these lessons-within Starbucks and on the national stage-to redefine the roles and responsibilities of a public corporation in the 21st century.
This case series deals with an executive education institution and its entrepreneurial-minded leader on the 25th anniversary of the institution. Central to developing a strategy for the future is a decision about leadership capacities that need to be developed for the school's participants, and what kind of education will be needed. The central figure of the case believes strongly in parallels between arts and management and in innovative experiences which inspire leadership. How far to go with these relative to the usual "boiler-plate" of leadership teaching is major feature of these cases. The A case takes the perspective of the school's president. The B case takes the multiple perspectives of eight contrasting stakeholders. The C case takes the perspective of the Board. The D case brings the participant up to date on what actually happened.
Zeta Mining, one of the world's largest producers of metallurgical coal, operates a number of mines in the Bowen Basin, Central Queensland, Australia. The company has invested about AU$8 billion in the region. Before extracting the coal, the overburden of dirt, rock and other geological waste has to be removed, and this is usually done by draglines, which are imported from the United States and constructed on site, requiring a significant investment in time and money. In 2012, Zeta’s chief financial officer tasked the Bowen Basin project evaluation director to decide whether to walk one of the 3,400-tonne draglines six kilometres to another mine or to employ external contractors to remove that mine's overburden. To do so, the director was required to perform an incremental comparison analysis using net present value methodology. The CFO will then use the analysis and any other relevant factors in making a final decision.
In the early morning of Saturday, July 6, 2013, the chairman of the Montreal, Maine & Atlantic Railway Limited faced a catastrophic situation when a company train carrying crude oil derailed in the small town of Lac-Mégantic, Quebec, Canada, causing a series of explosions that decimated the downtown core. Emergency crews fought to put out fires and search for survivors; residents were relocated to a local school to escape the noxious fumes, but the death toll and number of missing continued to rise. In the days that followed, as the provincial police and federal agencies began to investigate and suggested they might lay charges of criminal negligence, the company, which had no permanent public relations staff, needed to devise a communication strategy to reassure various stakeholders who were looking for answers as to why the derailment occurred, who would be held accountable and ultimately what action would be taken in the aftermath of such a deadly event. Also available is the supplement case <a ref=https://www.iveycases.com/ProductView.aspx?id=62139>9B13M136</a>.
本個案主要討論精聯電子全球營運的組織佈局，如何因應產業環境變化與新興市場的需求重新進行組織設計。精聯電子以「unitech」品牌行銷全球，主要市場為美洲、歐洲、日本、中國和台灣，於2012年全球營業額達19.6億，為台灣第一大「自動資料收集」(auto data capture,以下簡稱ADC) 廠商。精聯電子在美歐日市場採子公司方式經營，2011年後營運面對幾項問題。首先，金融風暴後全球經濟萎縮，精聯電子在歐美地區的業務拓展也受到影響，導致各子公司獲利下滑。其次，新興市場對ADC產品需求日增，但在現有歐美子公司營運無法有效開展的情況下，亦未能有效開發新興市場。最後則是歐美地區適任人才招聘留任的困難，以及人力成本過高的問題。面對此些經營難題，個案中將深入討論如何由公司策略、條件、產品特性與產業環境，釐清精聯電子價值活動執行的關鍵要素，重新思索應如何調整全球營運組織佈局，促成公司策略性成長。
It's long been known that time management and designated time off improves employees' quality of life. New research shows that it also dramatically increases companies' productivity. The key to success is not to focus on individual behavior but rather to empower teams to collectively manage their time.
Research on cross-border acquisitions shows that, contrary to conventional wisdom, they don't hamper domestic operations--they add to their efficiency and productivity. By acquiring foreign companies, firms gain a great deal of knowledge through exposure to new market ecosystems, R&D capabilities, functional skills, organizational processes, and managerial practices.
For many qualified non-native English speakers, invisible barriers to high-level employment and to receiving funding for entrepreneurial ventures remain a fact of life. New research shows that this results from perceptions that accented speakers are lacking in political skills, and suggests actions individuals and companies can take to mitigate the problem.
Research on product adoption in the airline industry suggests that being first to market can make a big difference to an offering's success, even if the customers are companies rather than consumers.
The 75th secretary of the U.S. Navy writes about how to lead a large, complex organization that is interdependent with other large and complex entities. His approach begins with a narrow focus on the organization's unique strength and role. In the navy's case, that means presence.