This case has been written to illustrate the pros and cons of asset-light and asset-heavy strategies. China has seen a rise in the use of asset-heavy strategies over the last few years, particularly with heavy asset users. By using financial tools such as sale and leaseback, fund management business models, and capital recycling, users can build asset-heavy real estate and capture lucrative real estate development profits. The users can then lighten the balance sheet by employing various financial techniques, thus achieving the economic benefit of the asset-heavy strategy while eventually enjoying the lower financial burden and higher flexibility of the asset-light strategy. This real industry case focuses on cold chain logistics real estate (refrigerated warehouses), which is developing in a similar manner to that of the ambient logistics real estate sector over the last 20 years. The company's name has been disguised for confidentiality purposes and the shipment data has been randomly re-generated, but it retains its overall statistics profile for greater realism. The case is written primarily for corporate strategy discussions, but the strong quantitative element also allows it to be used as an operations management network optimisation case as well.

A sports car manufacturer commits to carbon neutrality and to electrifying a large part of its car fleet.

The authors researched social investments at work and found that women may receive a lower ROI than men do for their work weaving the social fabric of their organizations. Men reported providing less frequent and different types of social support to colleagues than women yet reported higher levels of organizational encouragement and rewards and job satisfaction. To build future workforce communities both efficiently and equitably, organizations must revisit their policies and expectations.

Case A explores Goldman's corporate strategy and growth, charting its history from when Marcus Goldman moved to the US and launched a commercial paper business in 1869. It follows the firm's expansion in terms of its products/services, and its growth via acquisitions and alliances. Throughout the 20th century it built a reputation for innovation as a leader in M&A advisory, but remained firmly focused on investment and wholesale banking (the B2B side). Subsequently, in the aftermath of the 2008 financial crisis and a period of underperforming on the stock market, Goldman pivoted to retail banking in search of new growth and more stable sources of income. How effective its strategy would be remained to be seen. Case B explores how Goldman Sachs built the capabilities to enter consumer finance - a whole new market. Whereas others entered the market through acquisitions, alliances, or internal development, Goldman began by recruiting talent and gradually building a consumer business internally, then adding a combination of bolt-on acquisitions, partnerships, and further internal initiatives. The case ends in 2022 with the question: Did Goldman Sachs choose the right strategy?

Case A explores Goldman's corporate strategy and growth, charting its history from when Marcus Goldman moved to the US and launched a commercial paper business in 1869. It follows the firm's expansion in terms of its products/services, and its growth via acquisitions and alliances. Throughout the 20th century it built a reputation for innovation as a leader in M&A advisory, but remained firmly focused on investment and wholesale banking (the B2B side). Subsequently, in the aftermath of the 2008 financial crisis and a period of underperforming on the stock market, Goldman pivoted to retail banking in search of new growth and more stable sources of income. How effective its strategy would be remained to be seen. Case B explores how Goldman Sachs built the capabilities to enter consumer finance - a whole new market. Whereas others entered the market through acquisitions, alliances, or internal development, Goldman began by recruiting talent and gradually building a consumer business internally, then adding a combination of bolt-on acquisitions, partnerships, and further internal initiatives. The case ends in 2022 with the question: Did Goldman Sachs choose the right strategy?

In Case (A), ZUIG attempted to acquire a controlling stake in Zhenxing Biochem through a tender offer but faced opposition from both its board of directors and its largest stakeholder, Zhenxing Group. The opposition parties used various tactics to fend off the tender offer, such as halting trading, filing real-name reports, and pursuing lawsuits. Zhenxing Group even transferred all of its shares to its white knights, KAISA Group Holdings Ltd. (KAISA) and Cinda Securities Shenzhen Office (Cinda Securities), but its efforts proved unsuccessful. Ultimately, ZUIG replaced Zhenxing Group as the largest shareholder in Zhenxing Biochem. In Case (B), a fierce battle broke out between ZUIG and KAISA for control of Zhenxing Biochem after the successful tender offer. Eventually, an agreement was reached, and ZUIG gained control of the company. Under ZUIG's governance, Zhenxing Biochem embarked on a new phase of development through strategic partnerships, asset restructuring, and other initiatives. This case study provides a comprehensive overview of the target company's development before the tender offer, the complex tender offer and anti-takeover measures, and the challenging integration process that followed. The entire process was characterized by ups and downs, making it a classic example of a hostile takeover that provides valuable lessons for all market participants.

Supplement to ZUIG's Tender Offer Takeover of Zhenxing Biochem (A): Barbarians at the Gate. In Case (B), a fierce battle broke out between ZUIG and KAISA for control of Zhenxing Biochem after the successful tender offer. Eventually, an agreement was reached, and ZUIG gained control of the company. Under ZUIG's governance, Zhenxing Biochem embarked on a new phase of development through strategic partnerships, asset restructuring, and other initiatives. This case study provides a comprehensive overview of the target company's development before the tender offer, the complex tender offer and anti-takeover measures, and the challenging integration process that followed. The entire process was characterized by ups and downs, making it a classic example of a hostile takeover that provides valuable lessons for all market participants.

In the last few years, marketing has increasingly focused on storytelling as a way for brands to deepen relationships with customers. However, there is limited guidance for practitioners on how to apply storytelling in nonprofit contexts, especially in small ones that are financially constrained. After a brief review of the literature on storytelling for charitable organizations, we present a storytelling framework for small nonprofits, illustrated with examples primarily from animal rescues. The use of our suggestions should result in more effective and meaningful storytelling for small nonprofits that seek the support of donors, volunteers, and other community members.

Sustainability is high on the strategic agenda and is here to stay. While some companies have been sustainable since inception, others are repositioning themselves to be associated with sustainability values. In both situations, communicating about sustainability is key but requires delicate handling to avoid misleading perceptions. Authenticity and emotions are therefore key dimensions of sustainability communication, which match with strategic storytelling elements. Storytelling is discussed in this article as a powerful mechanism to bring about the desired change in individuals, communities, organizations, and society. Drawing from the literature on storytelling, we present, discuss, and illustrate a framework with four strategic elements for companies that want to be successful with sustainability storytelling, which we refer to as the 4 A's: Aim (the "why" of the story), Actors (actively engaging stakeholders and associating with partners), Aspiration (using an aspirational context), and Action (using the right media to bring your story to life). We also emphasize that a holistic approach is key to doing sustainability storytelling the right way. We conclude with general recommendations that managers must consider when conducting sustainability storytelling.

Are you involved in a new venture but just can't find the right name? Are you part of an organization that has outgrown its name, perhaps because of geographic/product expansion or societal changes? Or worse, does your organization need to shed its name owing to scandal or unfortunate family association? While many entrepreneurs and managers understand intuitively that names are imbued with meaning and that this meaning helps convey a company's identity and tell its story, they may not know what makes a great name. Even though choosing a name marks a universal rite of passage for an organization and a key strategic decision, there is surprisingly little practical, accessible, and consolidated guidance available to those in search of the "perfect" name. So, how can organizations improve their chances of crafting an outstanding name? We extract research-driven insights from a variety of disciplines to describe, examine, and evaluate five principal naming strategies. As such, we explore the effectiveness of organization names that are affiliated with the organization's signature product/service, family, or geography, as well as those adopting humor or pursuing novelty via portmanteaus. We also offer recommendations for maximizing the cognitive fluency and emotional resonance of potential names.

Brands become relevant to consumers via storytelling, and archetypal myths in popular culture inform this effect. The hero is an archetype of enduring interest, yet as the marketing literature is replete with heroic undertones, the scope of empirical research is limited and dominated by North American perspectives. To address this shortcoming, this study explores Australian consumer relationships with hero archetypes to provide a contemporary view of how consumers enact brand myths. An in-depth case study of R.M. Williams, an iconic Australian brand, shows the relevance of iconic heroes and reveals how historical archetypes can evolve to address emergent consumer-brand storytelling needs. The study identifies several novel archetypal patterns which contribute to a deeper understanding of how consumers enact brand myths. These archetypes influence consumers in their consumption quests, reconciling social needs and facilitating their immersion in the brand's story. To improve consumer-brand engagement, marketers must focus on engaging consumers with the brand's narrative through the strategic use of archetypal myths.

This Guest Editor's Perspective discusses strategic storytelling and the role it can play in business

When managers consider storytelling part of their organizational strategy, it is generally considered a marketer's task. However, we argue that intentionally building a storytelling culture across domains and functions can provide value to all parts of the organization. Even so, storytelling can often feel like a formidable undertaking, exclusive to firms with ample in-house resources or finely tuned existing brand stories. This is not the case, and in this article we offer examples and concrete advice for companies of all sizes and resource levels to embed storytelling throughout the organization. Likewise, we build a case for developing organizational culture and capacity to harness the power of storytelling not only for marketing strategy, but also for overall organizational functionality. We provide examples of potential storytelling applications, a review of storytelling benefits, and step-bystep guidance on how to manage and embed storytelling.

Narratives help entrepreneurs and potential venture supporters to make sense of new ventures and to frame entrepreneurial journeys. Despite current understanding of how narratives shape entrepreneurial outcomes, however, there is limited guidance about how entrepreneurs might craft their own narratives in practice. In this article, we identify six types of entrepreneurial narratives-(1) an identity narrative, (2) an opportunity narrative, (3) a projective narrative, (4) a failure narrative, (5) a pivot narrative, and (6) a resourcefulness narrative-and we detail practical storytelling strategies entrepreneurs can use to shape each of these narrative types. We then propose that entrepreneurs can combine, sequence, and revise these narratives as the entrepreneurial journey unfolds. Knowledge of how to strategically manage the full entrepreneurial narrative repertoire enables entrepreneurs to create meaning and value where there once was none and to capture that value over time as a venture grows.

As a captivating way to engage, inform, and persuade one's audiences, storytelling can serve as a strategic skill in an entrepreneur's arsenal. Although entrepreneurs often use storytelling to mobilize financial resources from external stakeholders, less attention has been paid to how entrepreneurs can leverage this powerful tool to gain strategic partnerships. As such, there is little practical guidance on utilizing storytelling to gain a competitive advantage. In this article, we use wisdom from the academic and practical world to illuminate the science of storytelling, identify the type of stories that entrepreneurs may narrate (or refrain from telling), and understand the mechanism through which stories engage and persuade external stakeholders. We also highlight Freytag's Dramatic Arc, which can teach entrepreneurs how to frame profound stories that gain attention from external stakeholders. We offer practical guidelines for entrepreneurs interested in learning and harnessing the power of compelling storytelling for strategic partnerships.

Yukimi Daifuku was an ice cream that had been sold exclusively during the winter season in Japan for almost four decades. Lotte Co., Ltd. (Lotte) entered the ice cream market thirty years after its major competitors, so the company strategically targeted the ice cream off-season, when other producers were not promoting their products. Lotte successfully grew the product's sales, and Yukimi Daifuku became an iconic winter ice cream in Japan. However, the external environment surrounding Yukimi Daifuku had undergone significant changes, and in 2018, Lotte decided to sell the product year-round in order to boost availability and sales. Yukimi Daifuku saw sales momentum in 2019, but growth stalled in 2020. Without the benefits of its historical (and iconic) off-season position, Yukimi Daifuku faced the challenge of thriving in the competitive Japanese ice cream market. In addition, the patent on the product development process of Yukimi Daifuku was set to expire in March 2021. Without the iconic winter ice cream positioning and patent-the two key factors for their forty-year success-what were the next steps needed for the Yukimi Daifuku Branding Division for the product?

In a little over a year, more than 6,500 workers at over 250 corporate-owned Starbucks stores had voted to unionize with Workers United. The former CEO, Kevin Johnson, retired unexpectedly in April 2022 after weeks of increasing pressure from investors as the unionization effort grew. Starbucks Founder Howard Schultz was then named interim CEO and he went on to make numerous statements against unionization and visited many Starbucks locations in an effort to curb unionization efforts. The next CEO, Laxman Narasimhan, was taking charge in April 2023, and Schultz would be his advisor through the rest of the year and remain on Starbucks' Board of Directors. How Narasimhan managed the unionization efforts would be critical to his future at Starbucks. The case's fictional protagonist, the employee relations advisor, is assigned to counsel the corporation's new CEO on how to respond. The protagonist, who started at Starbucks as a barista, can see many sides of the situation and is well aware that corporate leadership has resisted unionization, and knows that what comes next could be critical for Starbucks' future.

SPACE is a course with two goals: to use the tools of economics to better understand the rapidly evolving space sector, and to train the next generation of commercial space leaders. We pursue these goals through a systematic study of the growing space economy, proceeding through a series of case studies that chronicle the past, describe the present, and help us to speculate about the future of what is arguably the industry most important to the future of humanity. The cases cover the full range of civil, commercial, and national security space, and they confront the most pressing and substantial questions facing the sector. We pair each case with at least one classic tool of economic analysis, providing both rigor and generalizability of the lessons learned.

Digital platforms have completely reshaped everyday life in the modern world; nevertheless, innovation leaders do not always understand the importance of the digital platform impact or how to use platform-based business models to create value for all businesses, not just digital services and startups. This text provides a framework as well as practical tools to effectively utilize digial transformation in any and all organizations. Platform ecosystems are complicated, but this book will help those interested in the platform world to become platform thinkers-those who are able to put platform-based mechanisms at the center of digital business transformations-by training them to read the platform world around them and then guiding them in writing new platform models. Chapter 1 introduces the idea of platforms and outlines how they have changed daily life. Dozens of regular tasks depend on platforms today-listening to music, driving to a new location, and ordering food, to name a few. While the vast majority of people use these platforms on an everyday basis, they probably do not fully understand them; likewise, managers do not tend to go beyond the surface of platforms. Platforms are not solely another business model. They can enable technological and nontechnological innovation. Platforms are also not just for startups; established companies can become platform thinkers and further their innovation. Multiple real-world examples are offered throughout the chapter.

Digital platforms have completely reshaped everyday life in the modern world; nevertheless, innovation leaders do not always understand the importance of the digital platform impact or how to use platform-based business models to create value for all businesses, not just digital services and startups. This text provides a framework as well as practical tools to effectively utilize digial transformation in any and all organizations. Platform ecosystems are complicated, but this book will help those interested in the platform world to become platform thinkers-those who are able to put platform-based mechanisms at the center of digital business transformations-by training them to read the platform world around them and then guiding them in writing new platform models. Chapter 2 provides a brief summary of how the concept of platforms came about in the innovation conversation. Two types of platforms are the roots of the platform field: product platforms and innovation platforms. Multiple cases are offered as examples of these platform types-for instance, the Sony Walkman as a product platform and Microsoft Windows as an innovation platform. The chapter then builds on the idea of multisided platforms by discussing transactional, orthogonal, and hybrid platforms. Transactional platforms include groups of customers that are directly linked and value that is agreed upon by the involved groups, such as credit cards. Orthogonal platforms deal with sales of two different services to two different groups who do not directly interact, and hybrid platforms are those that integrate multiple types of platforms.