Sanjil Shah, Managing Partner of Alignvest Student Housing REIT (ASH), faces the most significant decision thus far in his career: is it the right time to sell the company? Together with his partner Reza Satchu, Shah had developed ASH into the largest student housing platform in Canada in only a few years since its launch. Key to their success was the partners' decision to forego a traditional private equity structure and instead supplement initial investments of their own personal capital with that of high-net-worth individuals and retail investors. Their strategic intuition paid off, helping them emerge strong from the COVID-19 pandemic and eventually, in 2023, receive a buyout offer worth $1.05 billion. The timing was perhaps fortuitous: an increasing housing shortage, a sudden surge in interest rates over market capitalization rates, and brewing restrictions on international students all threatened to curtail further expansion. Factoring in additional pressure from investors, Shah wondered whether it was the right time to exit. And yet, their hypothesis had held strong so far. What if there was still room to grow? What if selling now meant pulling out too early? To sell, or not to sell? That is the question.

Amidst the complex landscape of non-governmental organizations (NGOs) in mainland China, CrossBorder Environment Concern Association (CECA) has emerged as an independent grassroots environmental NGO focused on conserving coastal biodiversity. With the vision to become a leading think tank, CECA provides well-founded research findings to authorities through early intervention, ensuring environmental compliance in government-proposed development projects. In its advocacy efforts, CECA emphasizes community engagement and relies on its well-trained volunteers to carry out complex procedures. The NGO sets itself apart by upholding independence, transparency, and refusing government funding or any illicit "guanxi" connection. This raises questions about how CECA secures its funding and diversifies its revenue streams. Furthermore, the partners contemplate how CECA can more effectively demonstrate its environmental and community impact to stakeholders, thereby further enhancing both financial and societal support. Readers are invited to analyze the competitiveness of CECA in the industry, identity success factors, as well as potential challenges. They are also encouraged to propose alternative strategies for CECA to consider, taking into consideration of the missions of the NGO.

Open Network for Digital Commerce (ONDC) was backed by the government in India as an innovative solution to onboard numerous small-scale retailers and other businesses to participate in the digital commerce ecosystem comprised primarily of e-commerce platforms, on-demand food delivery, and ride-sharing platforms, through standard technology and processes, policies, and entrepreneurship. ONDC was officially incorporated in December 2021 under the Department for Promotion of Industry and Internal Trade as a non-profit section 8 company. As a set of protocols to foster open, unbundled, and interoperable networks, ONDC-enabled communication among various players or entities of an e-commerce transaction. Functions of typical e-commerce such as discovery, matching, order fulfillment, or delivery were unbundled so that multiple players could execute each of these steps independently. ONDC had onboarded seller-side apps (applications interacting with merchants), buyer-side apps (applications interacting with consumers), logistics providers, and customers over the past two years, but the scale of ONDC's growth was limited compared to existing players. Also, there were considerable questions on ONDC's decisions pertaining to continual subsidy offerings for sellers and discounts to customers. Some success was seen in areas of hyperlocal mobility through apps developed on ONDC such as Namma Yatri and hyperlocal delivery of restaurant food, but order volume was an impending issue. Technology service provider firms stepped forward to help sellers in building and managing services. In the latter half of 2023, Antler Innovation Private Limited ONDC was launched to fund, train, and onboard promising participants in the network. ONDC now had to strategically address areas in which it needed to make investments, whom to subsidize and charge, how to enable scaling, and formulate effective governing policies.

Open Network for Digital Commerce (ONDC) was backed by the government in India as an innovative solution to onboard numerous small-scale retailers and other businesses to participate in the digital commerce ecosystem comprised primarily of e-commerce platforms, on-demand food delivery, and ride-sharing platforms, through standard technology and processes, policies, and entrepreneurship. ONDC was officially incorporated in December 2021 under the Department for Promotion of Industry and Internal Trade as a non-profit section 8 company. As a set of protocols to foster open, unbundled, and interoperable networks, ONDC-enabled communication among various players or entities of an e-commerce transaction. Functions of typical e-commerce such as discovery, matching, order fulfillment, or delivery were unbundled so that multiple players could execute each of these steps independently. ONDC had onboarded seller-side apps (applications interacting with merchants), buyer-side apps (applications interacting with consumers), logistics providers, and customers over the past two years, but the scale of ONDC’s growth was limited compared to existing players. Also, there were considerable questions on ONDC’s decisions pertaining to continual subsidy offerings for sellers and discounts to customers.<br><br>Some success was seen in areas of hyperlocal mobility through apps developed on ONDC such as Namma Yatri and hyperlocal delivery of restaurant food, but order volume was an impending issue. Technology service provider firms stepped forward to help sellers in building and managing services. In the latter half of 2023, Antler Innovation Private Limited ONDC was launched to fund, train, and onboard promising participants in the network. ONDC now had to strategically address areas in which it needed to make investments, whom to subsidize and charge, how to enable scaling, and formulate effective governing policies.

Vedanta Limited (VEDL), an Indian conglomerate, operated in natural resources business segments, including aluminum, power, steel, oil and gas, and base metals segments such as copper, zinc, lead, silver. In September 2023, the company’s market value was approximately half of its intrinsic value, as its individual business segments were estimated to be worth significantly more operating independently.<br><br>The chair of VEDL needed to take the necessary steps to enhance shareholder value by unlocking conglomerate discounts. The combined segments were perceived to generate negative synergies for the conglomerate, as indicated by the trading multiples of comparable companies. In looking for viable ways to eliminate the discount, he had to choose among the following options: (1) a share repurchase, (2) divestiture, (3) a spinoff of one or more segments, or (4) a spinoff of all segments.

Ivan and Dan MacKinnon grew up on a farm in Bath, Ontario, where the brothers learned about the importance of farming and local supply chains. In 2014, the brothers put together their farming assets and brewing and engineering skills and launched their farm-based brewery, MacKinnon Brothers Brewing Company. After nearly 10 years of operations, the MacKinnons were faced with a growth challenge. Should they leverage their farm brewery brand and grow its distribution beyond the local region? Or should they “dig in” on their local farm concept and explore more sustainable growth options in the food and beverage tourism industry?

In March 2023, Gopuff, a player in the quick commerce (Q-commerce) industry, was experiencing intense competition and was also unprofitable. Gopuff’s vertical integration model was different than other e-commerce or marketplace companies like Amazon or Instacart, as it purchased products directly from consumer product companies and wholesalers and stored them in micro-fulfillment centres for quick delivery on demand. The company intended to achieve profitability by reducing spending, scrapping off its lower-performing warehouses, and emphasizing higher-margin revenue streams like advertising. Did Gopuff have a feasible business model? Could it earn a competitive advantage over its competitors? What strategies could its co-founders consider to make Gopuff financially feasible?

In February 2019, D. K. Ram, the executive director of liquid petroleum gas at Bharat Petroleum Corporation Limited (BPCL), read a newspaper headline in his office in Mumbai. The paper reported that two delivery boys had been killed while returning to a distributor of BPCL after delivering gas cylinders. Ram thought of the risks to the safety of delivery people who were transporting cash they had collected from customers. He wondered whether BPCL should seek novel technologies to digitize last-mile delivery. Would BPCL choose to implement an all-encompassing digitization payment strategy, or would it execute a phased approach that entails incremental growth in the digital realm?

In August 2022, a senior sales executive at Dabur India Ltd. was facing mounting pressure to meet the company’s sales and distribution key performance indicators. He was responsible for urban retail expansion, as well as promoting new products in a territory where the company dominated the market. However, challenges such as retailer dissatisfaction and low sales were persisting due to expired products cluttering retailer shelves, among other issues. The senior sales executive was grappling to maintain sales efficiency and customer satisfaction, amid sales team governance setbacks. Key concerns included expired items on retail shelves, lack of in-store promotions, and competing sales forces becoming increasingly automated. The senior sales executive had to address these challenges to improve the territory’s performance and sales.

Vedanta Limited (VEDL), an Indian conglomerate, operated in natural resources business segments, including aluminum, power, steel, oil and gas, and base metals segments such as copper, zinc, lead, silver. In September 2023, the company's market value was approximately half of its intrinsic value, as its individual business segments were estimated to be worth significantly more operating independently.<br><br>The chair of VEDL needed to take the necessary steps to enhance shareholder value by unlocking conglomerate discounts. The combined segments were perceived to generate negative synergies for the conglomerate, as indicated by the trading multiples of comparable companies. In looking for viable ways to eliminate the discount, he had to choose among the following options: (1) a share repurchase, (2) divestiture, (3) a spinoff of one or more segments, or (4) a spinoff of all segments.

Ivan and Dan MacKinnon grew up on a farm in Bath, Ontario, where the brothers learned about the importance of farming and local supply chains. In 2014, the brothers put together their farming assets and brewing and engineering skills and launched their farm-based brewery, MacKinnon Brothers Brewing Company. After nearly 10 years of operations, the MacKinnons were faced with a growth challenge. Should they leverage their farm brewery brand and grow its distribution beyond the local region? Or should they "dig in" on their local farm concept and explore more sustainable growth options in the food and beverage tourism industry?

In March 2023, Gopuff, a player in the quick commerce (Q-commerce) industry, was experiencing intense competition and was also unprofitable. Gopuff's vertical integration model was different than other e-commerce or marketplace companies like Amazon or Instacart, as it purchased products directly from consumer product companies and wholesalers and stored them in micro-fulfillment centres for quick delivery on demand. The company intended to achieve profitability by reducing spending, scrapping off its lower-performing warehouses, and emphasizing higher-margin revenue streams like advertising. Did Gopuff have a feasible business model? Could it earn a competitive advantage over its competitors? What strategies could its co-founders consider to make Gopuff financially feasible?

In February 2019, D. K. Ram, the executive director of liquid petroleum gas at Bharat Petroleum Corporation Limited (BPCL), read a newspaper headline in his office in Mumbai. The paper reported that two delivery boys had been killed while returning to a distributor of BPCL after delivering gas cylinders. Ram thought of the risks to the safety of delivery people who were transporting cash they had collected from customers. He wondered whether BPCL should seek novel technologies to digitize last-mile delivery. Would BPCL choose to implement an all-encompassing digitization payment strategy, or would it execute a phased approach that entails incremental growth in the digital realm?

In August 2022, a senior sales executive at Dabur India Ltd. was facing mounting pressure to meet the company's sales and distribution key performance indicators. He was responsible for urban retail expansion, as well as promoting new products in a territory where the company dominated the market. However, challenges such as retailer dissatisfaction and low sales were persisting due to expired products cluttering retailer shelves, among other issues. The senior sales executive was grappling to maintain sales efficiency and customer satisfaction, amid sales team governance setbacks. Key concerns included expired items on retail shelves, lack of in-store promotions, and competing sales forces becoming increasingly automated. The senior sales executive had to address these challenges to improve the territory's performance and sales.

The scenario: Top managers see themselves as the parents of middle managers who never take initiative. Middle managers say the top managers don't trust them. Mistakes get covered up by everyone â€" and progress stalls. That is a parent-child dynamic in all its dysfunctional glory at the workplace. Is your organization falling into this damaging trap? This article explains how leaders can spot the trouble signs and move the culture toward a healthy, adult-adult dynamic.

Despite the supply chain disruptions caused by the COVID-19 pandemic, Toyota Motor Corporation (Toyota) managed to increase its sales and retain its title as the world’s top-selling carmaker for three consecutive years from 2020. However, the gradual shift in global market trends toward battery electric vehicles (BEVs) threatened to leave Toyota lagging behind, particularly in China, the United States, and Europe. In response to the threats from BYD Auto and Tesla in Toyota’s main markets, Koji Sato was appointed president of Toyota in April 2023. Under Sato’s leadership, Toyota announced plans to establish a BEV Factory, with the goal of producing 1.5 million BEVs by 2026. Despite Toyota's commitment to hydrogen fuel cell electric vehicles, exemplified by the Mirai, the company struggled to increase sales in this category due to infrastructure challenges. With Toyota’s Hydrogen Factory scheduled to open in July 2023, Sato emphasized Toyota’s intention of preserving hydrogen as a viable option for achieving a carbon-neutral society. The company faced the challenge of determining whether it was a solid strategy to develop and maintain both battery and hydrogen options in pursuit of a zero-emissions environment. Both endeavours demanded tremendous financial investments and time-consuming efforts, thus potentially slowing Toyota’s battery development. While other carmakers focused solely on BEVs, Toyota’s ability to compete in this category once the BEV Factory commenced mass production in 2026 while also investing in hydrogen remained uncertain.

The case highlights deliberations led by Brett Barakett, CEO and chief investment officer of Tremblant Capital, just months prior to launching an actively managed ETF, Tremblant Global (TOGA). However, his team continued to have reservations around the launch. On the one hand, TOGA would provide investors compelled by Tremblant's investment philosophy a more tax-efficient, liquid, and transparent product, at a lower cost than its long-only fund. On the other hand, there were concerns that TOGA might cannibalize Tremblant's higher-fee hedge fund business, increase its disclosure requirements, and expose the firm to greater counterparty risk.

Alexander and Lorenzo were at a crossroads with their biotech startup, PhagoMed. They had left high-profile positions at Boston Consulting Group (BCG) three years earlier, driven by a bold vision to tackle the global crisis of antibiotic resistance using phages, viruses with the remarkable ability to target specific bacteria. Despite a robust commitment to R&D yielding deeper insights into phage biology, the journey from lab to clinic was frustratingly slow. And with their capital dwindling, they faced the urgent need to reassess their strategic direction and resource allocation.

This case expounds on how Global Technology was established as a supplier in the upstream automotive industry chain and how it competed in a monopolistic market - the Chinese chassis-by-wire market with high technical barriers to entry and already dominant players such as Bosch and Continental enjoying combined share over 90%. It turned out that Global Technology, which epitomized the many tech firms aiming to produce local substitutes, managed to gain a market footing. The case first provides information about the automotive chassis-by-wire industry, ranging from relevant policies and technologies to market size and competitive landscape. It introduces the histories and businesses of major international giants, providing a glimpse into the market environment in which Global Technology was operating. The case also describes the founder Liu Zhaoyong's work experiences and motivations for entrepreneurship and explains why Liu entered the chassis-by-wire arena long dominated by international giants. It then illustrates how Global Technology progressed from 0 to 1 by creating great products to gain customer trust. It ends with a question on the company's current challenge: How should Global Technology compete with established giants in the future?