Bank of Baroda (BoB) is one of the oldest banks in India with a large international footprint. The bank was nationalized in 1969 and was under the control of the government. Ever since the India embarked on the program of economic reforms of 1991, there were efforts to address the structural and governance aspects of banks. The ideas around reform have included among other things - repeal of the Bank Nationalization Act, to bring it on-par with companies incorporated under the Companies' Act, disinvestment, and also consolidation of multiple banks. In an effort to infuse new thinking and to reform the banking sector, the government as a first step, appointed a non-executive chairperson and a chief executive officer laterally from the private sector in 2015. Therefore, BoB (along with Canara Bank) was seen as a bank where the early experimentation of reform in the sector could happen. However, subsequently, there have been mounting concerns in the banking sector which have created significant challenges associated with the banking reform process. This case thus illustrates and examines the challenges associated with the governance of a large bank with legacy systems and with multiple expectations from various stakeholders arising from the State being a part owner, and from customers, financial markets, and minority shareholders.

Bank of Baroda is one of the oldest banks in India with a large international footprint. The bank was nationalized in 1969 and since then has been under the control of the government. Ever since India embarked on the program of economic reforms of 1991, there have been efforts to change the culture and management of public sector banking enterprises in India. As a part of the larger reform process, the Government of India appointed an independent non-executive chairman for the bank and also laterally recruited the CEO from the private sector banking space. In the light of this move, this case examines the challenges of managing a large bank with legacy systems and with multiple expectations - from customers, markets, and the state. Given the nature of the bank's incorporation and ownership, it operates under multiple constraints at the operational and governance levels. The case documents the challenges and opportunities at the operational level; examines the process of transformation and raises the questions regarding these changes and whether they could last beyond the current leadership. The case also juxtaposes the experience of the transformation exercise undertaken by the organization in the past to review the progress of some of the erstwhile changes and provides an opportunity to examine the subsequent transformation exercise amidst a severely constrained situation.

This case provides a platform to discuss the role of the board in the governance of a corporation. Extant discourse on the role of the board is largely centered on the challenges of monitoring managerial behavior and as a consequence on board independence. The two other critical tasks of the board - mentoring the leadership (based on expertise) and maintaining continuity with robust succession of both the board and the executive leadership - are not as well documented. Set in 2019, this case documents the rollercoaster ride of Infosys Limited - India's second largest software services company - from an icon of corporate governance to its fall from grace after an ugly fight between its co-founders and the board, following whistle-blower allegations of governance failures. The case helps demonstrate the importance of issues related to board succession (to ensure continuity) and board capital (to guide strategic choices) that are often overlooked.

Mahindra Financial Services (MMFSL) is an Indian non-banking financial services organization largely involved with financing of tractors, commercial, and passenger vehicles. The company is nearly 30 years old with a turnover of more than US$ 1 billion. MMFSL grew as an organization following a regional structure. However, with growth in business both in terms of volume and diversity, MMFL felt that the regional structure was creating constraints rather than facilitating its growth. Therefore, it undertook a restructuring exercise and adopted a product-based structure. The case describes the conditions that led MMFSL to consider the structural change, how it went about implementing the change and what was the impact of the structural change? The elaborate process that MMFSL adopted in implementing the change ensured that the transition was smooth and that the new structure created architecture for further business growth.

Large established organizations need to innovate as much as small entrepreneurial firms. The problem is, it takes real creativity to build something new out of something old. Harvard Professor and innovation expert Gary Pisano introduces the concept of 'creative construction', which entails redesigning an enterprise in a fundamental way while still operating the core business. He defines four types of innovation that large enterprises should embrace, and argues that all four types likely have a place in every organization's innovation portfolio.

Data science may well prove to be the most rewarding and exciting profession of the 21st century. That's because advances in computer processing speeds and reductions in data storage costs are enabling us to reach conclusions from large data sets in ways that were simply not possible 20 or 30 years ago. However, the author shows that this seismic shift in business comes with several key issues for society: data privacy, biased algorithms, ethics and transparency. In the end, he says, a continuing challenge for the human race will be to address these issues and figure out how to partner with machines in ways that benefit rather than harm humankind.

We often assume that only purely digital companies like Google or Netflix can be called 'algorithmic'. But the reality is that every type of organization, at every scale, will soon live and breathe by its capacity to leverage data, automation and algorithms to be more effective and create better customer experiences. The author shows that as a result, a new breed of leader is emerging with an ability to use machine intelligence to transform organizations - and reinvent the world. He argues that these 'algorithmic leaders' are different from traditional leaders in three key ways.

Since 2006, China has been in fast-forward mode as government ministries have rolled out ambitious plans to make the country an innovative society, with a growing emphasis on science and technology and the declared aim to become a world leader in advanced manufacturing and artificial intelligence (AI). Can China meet its lofty goals? In this article, the author summarizes some of the advantages China enjoys over other countries -as well as the challenges it faces in making its vision a reality.

Disruption is no longer a once-in-a-career problem to be dealt with. It's a constant cycle. Technology is increasingly creating the tools your competitors - incumbents and entrepreneurs alike - are using to build new digital products and services that target and release latent demand and serve unmet needs. The authors, senior leaders at Accenture, call that potential revenue 'trapped value' - and they argue that if you don't get to it before others, you may find not just your future growth disrupted, but your current business as well.

No one would argue that that online and mobile banking have transformed the financial services industry. Tech-savvy customers welcome online banking for its convenience, and banks view it as a way to increase efficiency. But the author argues that despite the rapid growth of digital tools and solutions, personal relationships remain critical in the financial sector. She describes her research findings, which indicate that there are hidden costs to abandoning personalized banking relationships - and that such relationships between borrowers and lenders can benefit both parties.

Despite widespread agreement on the importance of creativity, leaders often fail to recognize creative ideas-or worse, reject them outright. The authors summarize research pointing to a variety of conditions that bias managers toward judging creative ideas negatively. Heeding the call for tools that aid in the recognition of creativity, they then describe their model for successfully pitching ideas in organizations, which, assuming true idea novelty, features two critical proactive behaviours on the part of the employee: idea enactment and influence tactics.

In a world plagued by information overload, it is not surprising that we often resort to categorical thinking to simplify incoming information. The problem is, this habit can manifest itself in a tendency to group individuals on the basis of social categories including race, gender and age. Further, such categories are often imbued with associations and expectations - a.k.a. stereotypes. One little-discussed sub-category of stereotypes is 'occupational stereotypes' - collections of traits or attributes with which individuals associate members of different occupations. The authors describe their research into these stereotypes, showing how they lead to occupational segregation and impact vocational choice, recruitment and selection.

The billionaire founder of Sun Microsystems Vinod Khosla talks to Creative Destruction Lab Founder Ajay Agrawal about the AI-generated opportunities (and dangers) that lie ahead. In particular, he points to the potential of AI to increase income disparity to dangerous levels that could lead to societal unrest. He also argues that lower skilled jobs like truck driver and restaurant worker will likely be fine, but that higher skilled knowledge-based jobs like radiologists are in trouble. On the bright side, AI could eradicate unsatisfying work; we are at the beginning of a continuous 'hypercycle' of innovation; and the future is shapeable: Technology doesn't rule; it serves. We get to decide on its goals.

In May 2019 Memphis-based pharmacist and social entrepreneur Phil Baker hopes coding will start soon on blockchain software and related applications that will enable efficient and secure collection of usable drugs from individual donors and redistribution to needy authorized patients. To reach this point, he founded the subscription-based Good Shepherd charitable pharmacy, which bypasses pharmacy industry middlemen to sell medications at low prices, and distribute free donated drugs. Next, he successfully lobbied for passage of a Tennessee law that allows medications to be donated by individuals from anywhere in the US, to be redispensed to Tennessee patients, prioritized by need. After forming RemediChain LLC, recruiting a software development team, conducting some pilot tests to verify how to attract willing donors and needy patients, and launching the design phase for the blockchain system architecture, he formed a small consortium of pharmacy schools and other health-care organizations, in anticipation of further pilot-testing. Now, he wants to identify and plan how to mitigate foreseeable blockchain system project challenges before the system architecture and key elements are designed and software development begins. Since his two organizations (RemediChain LLC and Good Shepherd Pharmacy) are under financial pressure, and he wants to move forward quickly on building a scalable solution.

Anna and Jack Oleson, long-time owners of a bridal and formal wear shop in a small community in Michigan's Upper Peninsula (U.P.), are contemplating making an offer to buy the Keweenaw Mountain Lodge (KML) property, located in Copper Harbor on the Keweenaw Peninsula. The property has been owned and operated by Keweenaw County since its beginnings in 1933, constructed under the Civil Works Administration and the Work Progress Administration during the Great Depression. Situated on 167 heavily-wooded acres in the northernmost part of Michigan, the facility includes a 6,000 square foot lodge built from logs and rough-cut stone, a banquet room and conference center, 24 rustic cabins, an eight-room motel, a nine-hole golf course, mountain biking and hiking trails, a tennis court, and disc golf. In 1970, the lodge was listed on the National Register of Historic Places, and in 1976, it was designated as a Michigan State Historic Site. Keweenaw Mountain Lodge, however, has not produced profits in several years. A consultant noted that while some repairs were needed (e.g., roof replacement/repairs, replacement of carpeting, installation of Wi-Fi), it has been a utilized for both hosting wedding receptions and as family vacation destination for Michiganders and other Midwesterners. The asking price for the property is $1.5 million. The Olesons, who are in their 70's in age, are considering selling the bridal shop and using proceeds towards purchasing the KML. The case provides a general overview of Michigan's Upper Peninsula and its unique culture, and the considerations involved in making a purchase decision - i.e., marketing, location and local demographics, marketing positioning, operations and management, succession planning, and financial valuation. It requires the reader to utilize the planning, analytical, and decision-making techniques of an entrepreneur investigating a new business opportunity.

AlloVoisins, a web platform founded in 2013, had reached its 2018 enrolment goals seven months ahead of schedule. Because of a large new competitor entering the market, Edouard Dumortier, CEO, was evaluating a list of partners for his planned Business-to-Business-to-Consumer (B2B2C) strategy. These partnerships aimed to drive further enrolment. AlloVoisins allowed people within communities to post needs (e.g. babysitting, borrowing tools, house checking, etc.) for other members to fulfill for a mutually agreed upon fee. The company had previously used paid media but did not find that such channels resulted in the enrolment figures Dumortier believed he needed to compete. This type of advertising and promotion also required a lot of cash, which as a start-up AlloVoisins did not have. Therefore Dumortier opted for B2B2C strategies, which required less cash on hand. AlloVoisins was considering partnering with other businesses and selling to them, or getting them to promote his company, rather than communicating directly with customers. The question, though, involved selecting partners from a list he came up with after some research to best achieve his goals. In order to maximize AlloVoisins' opportunities, partners would need to provide access to the largest database of customers possible but also fit well with the value offered by AlloVoisins.

The CEO of Green Zebra weighs the implications of growth for a small chain of innovative, organic neighborhood grocery stores. The firm was at the forefront of both healthy food and convenience trends but faced fierce competition from larger players entering the market. A rapidly diminishing cash position forces the CEO to compare how two investing-financing alternatives contribute to growth and to reducing the cash burn of current operations. A slow growth option requires less financing and may allow the company to achieve a positive cash flow more rapidly. The alternative, rapid expansion into a new market, has the potential to rapidly scale operations and enhance competitive position. Students develop financial forecasts, calculate the weighted average cost of capital (WACC), estimate cash flows, prepare net present value (NPV) and evaluate financing alternatives. This is an integrated case that illustrates the financial implications of growth and the capital rationing issues faced by small firms. It can be used as a final exam case for an MBA-level course in corporate finance and as a vehicle for structured case analysis in an upper division undergraduate course in finance or entrepreneurship.

In late 2017, Peri Malhotra, Head of Employee Development at Quatrro Global Services (QGS) was concerned about the future of the One Woman campaign started at the firm two years prior. She led the initiative with her direct manager, Alok Narain, Executive Vice President of Human Resource and Development. Despite a concerted effort, Malhotra remained one of the few senior women executives at the firm. The One Woman campaign was launched in 2015 with the aim of attracting, retaining, developing and most importantly, helping women ascend the leadership ladder. The program was well received by participants, generating substantial buzz among women employees, but Malhotra had also heard some grumblings from male employees, especially about the preferential treatment the program maybe promoting. The financial budgeting process for 2018 had begun and unless Malhotra and Narain were able to provide a comprehensive assessment of the campaign, the value added by the initiatives and ways to improve it, the program would most likely be cut. Malhotra and Narain were reflecting on their efforts and both were eager to sustain the program.

Student spreadsheet for case NA0619.

As author Ryan Cohen was on the verge of launching an online jewelry business with cofounder Michael Day, he had a revelation: He was standing in a local pet store with his toy poodle, Tylee, discussing her food with the proprietor, when he realized that millions of other pet owners were equally concerned about their animals' well-being. Clearly, the opportunity was huge--and he cared much more about pet food than about jewelry. He went door-to-door in Silicon Valley looking for funding, but not until Chewy had beaten sales projections did the company find a significant backer, at Volition Capital. Cohen describes that first round of funding as a major watershed. "From that point on, the mission was larger," he writes. "I was even more committed to making Chewy an industry leader because it was no longer just our own money on the line. . . I felt that responsibility." The financing allowed him and his team to scale up the operation rapidly and plan for an IPO, but before that happened, they sold Chewy to PetSmart for $3.35 billion. Its early-stage investors made huge gains, and later-stage ones made significant money. "Those investors put their trust in me and my vision," Cohen writes, "and I repaid them with returns."