Stitch Fix Inc. (Stich Fix), started by Katrina Lake in 2011, combined modern technology and online shopping with a retail clothing shopping experience. Customers subscribed to Stitch Fix and received boxes of clothing, shoes, and accessories based on individual style and preferences; a personal stylist was matched with each customer to personalize each box prior to shipping. A significant part of the company’s value came from its unique value chain elements, including sophisticated algorithms that permeated all aspects of the company’s value chain.<br><br>However, in early 2020, the company was facing a significant challenge, with both Amazon Prime Wardrobe and Nordstrom Trunk Club entering the industry. How should Stitch Fix modify its business model to stay ahead of the competition and possibly expand its boundaries to other customer segments?
On August 12, 1819, a crew set sail for the Pacific Ocean on a three-year voyage on the Essex whaling ship. On November 20, 1820, a giant sperm whale emerged from the ocean and critically damaged the Essex’s starboard hull. The crew consisted of the captain, two officers, three boat steerers, and 13 sailors, most of whom lacked experience. While the captain and officers of the Essex huddled to plan their next move, the crew trusted the first officer to make the crucial decisions about using the ship’s three remaining whaleboats for the long voyage home. Surviving the wreckage would not be an easy task; therefore, making the right decisions would be essential for survival. As the ship continued to take in water, the captain and officers had to decide who should go in each whaleboat, what direction they should take, and what provisions they should carry.
Viral Nation, a six-year-old company based in Ontario, was North America's leading influencer marketing company. In March 2020, as the global COVID-19 pandemic struck, the founders of the company were assessing their venture's future growth prospects. Having just received three competing acquisition offers for their company, they needed to make a decision: Should they accept any of the offers, and if so, which one? Or, should they instead continue to grow organically in an increasingly uncertain market environment?
Viral Nation, a six-year-old company based in Ontario, was North America's leading influencer marketing company. In March 2020, as the global COVID-19 pandemic struck, the founders of the company were assessing their venture's future growth prospects. Having just received three competing acquisition offers for their company, they needed to make a decision: Should they accept any of the offers, and if so, which one? Or, should they instead continue to grow organically in an increasingly uncertain market environment?
On August 12, 1819, a crew set sail for the Pacific Ocean on a three-year voyage on the Essex whaling ship. On November 20, 1820, a giant sperm whale emerged from the ocean and critically damaged the Essex's starboard hull. The crew consisted of the captain, two officers, three boat steerers, and 13 sailors, most of whom lacked experience. While the captain and officers of the Essex huddled to plan their next move, the crew trusted the first officer to make the crucial decisions about using the ship's three remaining whaleboats for the long voyage home. Surviving the wreckage would not be an easy task; therefore, making the right decisions would be essential for survival. As the ship continued to take in water, the captain and officers had to decide who should go in each whaleboat, what direction they should take, and what provisions they should carry.
Open innovation includes external knowledge sources and paths to market as complements to internal innovation processes. Open innovation has to date been driven largely by business objectives, but the imperative of social challenges has turned attention to the broader set of goals to which open innovation is relevant. This introduction discusses how open innovation can be deployed to address societal challenges - as well as the trade-offs and tensions that arise as a result. Against this background we introduce the articles published in this Special Section, which were originally presented at the sixth Annual World Open Innovation Conference.
On November 23, 2018, the US jewellery maker Tiffany & Co. (Tiffany) received the final verdict in a years-long legal battle with the Swiss watchmaker The Swatch Group Ltd. (Swatch), which required Tiffany to pay Swatch millions of Swiss francs in damages (plus additional legal fees). The subject of the conflict was a strategic alliance the two companies had announced in 2007, which had once been called a "historic agreement" and a "pathbreaking strategic move." The alliance’s objective was to design and manufacture luxury watches under the Tiffany brand name and distribute them across Swatch's vast retail network and through Tiffany's own stores. How did this once-promising alliance come to be terminated in 2011, less than four years later? What lessons could be derived from the failure of this alliance?
Ireland-based Ryanair DAC (Ryanair) was the largest European low-cost airline, serving approximately 120 million customers in 34 countries in 2016–2017. The airline was considering entering new markets as its growth in existing markets had plateaued. The untapped Ukrainian market offered a huge growth opportunity for Ryanair as the country had recently signed a free-trade agreement with the European Union (EU) and was about to enter a visa-free regime that would increase travel between Ukraine and the EU. However, in July 2017, Boryspil International Airport (KBP) in Kyiv returned a co-signed service agreement that withheld several important terms and breached earlier verbal agreements it had made with Ryanair. KBP didn’t want to provide a preferential tariff for Ryanair’s flights to London because this would conflict with existing routes. It also insisted on solving disputes in Ukrainian courts rather than in UK courts, as Ryanair preferred. As the airline was confronted by KBP, Ryanair’s chief executive officer, Michael O’Leary, needed to decide what to do in order to enter the Ukrainian market: What were the available entry options and entry timing? How should Ryanair proceed?
Vijay Sales Ltd., established in 1967, had become one of India’s leading retail chains in consumer electronics and appliances by 2020. The company sold products through 102 exclusive stores in northern, western, and southern India and had developed a loyal customer base across wide geographies, particularly among the 40-plus age group. However, the company faced challenges in attracting a younger demographic, specifically millennial customers. To secure its future, the company needed an effective marketing strategy to position it as millennial customers’ preferred retail brand for consumer electronics and appliances.
Ashiana Housing Ltd. (Ashiana) was a small real estate developer in India, specializing in mid-priced domestic housing. The company was tightly run and had attracted investment interest from large reputable firms, but its financial performance had recently deteriorated—a state that was reflected in the company’s declining share price. The industry was also undergoing change with far-reaching reforms, which was leading to consolidation and the exit of smaller players. Did Ashiana have the right business strategy for the market and was this the right time to invest in the company?
On November 23, 2018, the US jewellery maker Tiffany & Co. (Tiffany) received the final verdict in a years-long legal battle with the Swiss watchmaker The Swatch Group Ltd. (Swatch), which required Tiffany to pay Swatch millions of Swiss francs in damages (plus additional legal fees). The subject of the conflict was a strategic alliance the two companies had announced in 2007, which had once been called a "historic agreement" and a "pathbreaking strategic move." The alliance's objective was to design and manufacture luxury watches under the Tiffany brand name and distribute them across Swatch's vast retail network and through Tiffany's own stores. How did this once-promising alliance come to be terminated in 2011, less than four years later? What lessons could be derived from the failure of this alliance?
Vijay Sales Ltd., established in 1967, had become one of India's leading retail chains in consumer electronics and appliances by 2020. The company sold products through 102 exclusive stores in northern, western, and southern India and had developed a loyal customer base across wide geographies, particularly among the 40-plus age group. However, the company faced challenges in attracting a younger demographic, specifically millennial customers. To secure its future, the company needed an effective marketing strategy to position it as millennial customers' preferred retail brand for consumer electronics and appliances.
Ashiana Housing Ltd. (Ashiana) was a small real estate developer in India, specializing in mid-priced domestic housing. The company was tightly run and had attracted investment interest from large reputable firms, but its financial performance had recently deteriorated-a state that was reflected in the company's declining share price. The industry was also undergoing change with far-reaching reforms, which was leading to consolidation and the exit of smaller players. Did Ashiana have the right business strategy for the market and was this the right time to invest in the company?
Ireland-based Ryanair DAC (Ryanair) was the largest European low-cost airline, serving approximately 120 million customers in 34 countries in 2016-2017. The airline was considering entering new markets as its growth in existing markets had plateaued. The untapped Ukrainian market offered a huge growth opportunity for Ryanair as the country had recently signed a free-trade agreement with the European Union (EU) and was about to enter a visa-free regime that would increase travel between Ukraine and the EU. However, in July 2017, Boryspil International Airport (KBP) in Kyiv returned a co-signed service agreement that withheld several important terms and breached earlier verbal agreements it had made with Ryanair. KBP didn't want to provide a preferential tariff for Ryanair's flights to London because this would conflict with existing routes. It also insisted on solving disputes in Ukrainian courts rather than in UK courts, as Ryanair preferred. As the airline was confronted by KBP, Ryanair's chief executive officer, Michael O'Leary, needed to decide what to do in order to enter the Ukrainian market: What were the available entry options and entry timing? How should Ryanair proceed?
By May 2020, Rivian Automotive (Rivian), a new electric vehicle (EV) battery manufacturer in the United States, had become a darling of the new battery electric vehicle (EV) market in North America. Rivian had not yet released any products, yet it had customers signed up and waiting in three distinctly different market segments. First 10,000 customers had deposited US$1,000 each for one of Rivian's two electric adventure vehicles. Second, the Ford Motor Company, a Rivian shareholder, had made a commitment to purchase Rivian's advanced electric skateboard powertrain, positioning Rivian as an EV component wholesaler. Finally Amazon.com Inc., also a Rivian shareholder, had pre-ordered 100,000 electric delivery vans. With three different markets, three different sets of customers, and three different commercialization challenges, had Rivian bitten off more than it could chew?
Grupo Argos, the third-largest business group in Colombia, was dedicated to cement production, energy, coal extraction, port management, and real estate development. The President of Grupo Argos was to meet his team to analyze whether its five subsidiaries had the necessary means to increase revenues and reduce portfolio uncertainty. The group considered deepening their core businesses so that by 2023, 80% of EBITDA would be generated by core businesses, 15% from experimental scalable businesses, and without risking the portfolio, the remaining 5% from emerging markets. The goal was for 50% of its revenues to come from operations outside Colombia, 10% from new businesses, and for the cement business to reach revenues of USD 10 billion. The executive committee questioned whether it was best for Grupo Argos to maintain its current portfolio or whether it should divest.
In November 2020, Chief Veterans Experience Officer, Lynda Davis, and Deputy Chief Veterans Experience Officer, Barbara C. Morton reflect on a busy four years leading the Veterans Experience Office at the U.S. Department of Veterans Affairs. The case provides an update on the transformation efforts at VA that were documented in the "Improving Access at VA" case.