In mid 2010 the Sealed Air Corporation has to decide on next steps for its novel video tracking technology (called VTID) after unsuccessful attempts to market it in three different industry settings. The company must determine whether its most recent target market, the quick-serve restaurant segment, is still worth pursuing or whether the company should look for a different application and market altogether. The company could also revisit the previous two applications, tracking and tracing processed meat and tracking employee safety practices. At the other extreme, after seven years of R&D and marketing efforts and millions of dollars in expenses, the company could cease attempts to commercialize VTID.
After much internal debate, THE VELUX FOUNDATIONS of Denmark have decided to allocate a small percentage of their investment portfolio to impact investments. Cambridge Associates, one of the leading investment advisory firms in the world, has been engaged to assist them in developing and implementing an "impact strategy." VELUX only invests in funds (as opposed to direct investments) and must now decide on fund selection criteria and on specific fund investment options that have been presented to them.
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. Chapter 1 offers an overview and definitions of entrepreneurship. From an economic perspective, entrepreneurship is generally conceptualized as the creation of a new business and the bearing of the risk associated with that business in exchange for profits to be derived from the exploitation of opportunities in the marketplace (e.g., demands of consumers that are not currently being satisfied). One of the most famous types of entrepreneurship, one that has also become closely aligned with conceptualizations of entrepreneurship, is Schumpeter's "creative destruction." In Schumpeter's view, the entrepreneur is driven by innovation, which can take the form of a totally new product or process or an innovative change to existing products or processes, which ultimately "destroy," or render obsolete, products and processes that have been used in the past.
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. This chapter offers a broad overview of the research on entrepreneurship, which includes work on: culture/ethnicity; economic growth; education/learning; entrepreneurship theory and practice; ethics; family-owned businesses; finance; firm performance/planning; gender; human resources; intraÂpreneurship versus entrepreneurship; international entrepreneurship, cross-national comparisons, and individual country studies; internationalization, exporting, and small business; motivation/firm creation or dissolution/founder characteristics; quality systems; resource-based views of the firm; social networks, business groups, and alliances; strategic planning and product development; supply chain management and distribution; teams; technology and technology-based firms; and venture capital.
Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. This chapter examines what factors influence the prevalence of entrepreneurship, including the motivational traits of the prospective entrepreneur, entrepreneurial opportunities and conditions, and cognitive factors.
This case revolves around Verisk Analytics' initiatives to drive innovation throughout the firm's many business verticals. Verisk, originally named ISO, started life as an insurance rating agency in the early 1970s, acting as an intermediary between insurance companies and state governments. Over time, the firm transformed from being a non-profit to a for-profit entity, while expanding its lines of business to realms other than insurance. By both exploring the history of the insurance industry and Verisk's unique position within it, the case provides readers with an understanding of the firm's growth strategy and why innovation is so crucial for its success. The case leaves readers to ponder Verisk's innovation and growth strategy, challenging them to assess its strengths and weaknesses.
The Diet Center (DC) was Lebanon’s first nutritional company to offer food consultancy services and meal catering to the public. The company faced numerous challenges competing in an unstable local market. Despite her company’s growth in sales and product development, DC’s general manager was extremely frustrated with the operating results and the bottom line. In November 2014, she decided to consider migrating to an enterprise resource planning system that would integrate all of DC’s operations and deliver real-time relevant financial and operational data. The sales manager of System, Applications, and Products in Data Processing (SAP) for the Middle East and North Africa region suggested that DC should migrate to the gold standard SAP business management software to reap many benefits. Should DC implement the new SAP system? Would the benefits exceed the costs? What challenges would DC face if it chooses to adopt a SAP system?
While there are a number of courses focused on helping students create and perfect innovative new products, there remains a gap regarding how to create and perfect the idea-or the positioning behind the product. The reality is that it is significantly more difficult than most people think to create a superior positioning concept. In addition, most sophisticated marketing organizations begin with a winning idea before they begin to deploy R&D resources to create a product. This note helps students understand what a positioning concept is, the critical elements of a testable positioning concept, and the attributes of those concepts that tend to be superior to those of their rivals. It is useful for undergraduate and graduate students interested in marketing, sales, brand management, and entrepreneurship.
Among only a handful of early adopters of a new revenue recognition mandate for calendar year 2017 annual reports, beginning of the year retained earnings for Ford Motor Company (Ford) was adjusted $36 million higher while General Dynamic's was adjusted down by $301 million, both a result of their early adoption of the new revenue recognition guidelines. A new revenue recognition mandate, she noted three important points.
This case study gives an overview of the creation of the Pay-for-Success (PFS) Lab at the University of Virginia (UVA). It promotes discussion of how other university institutions can scale up their own research labs with a limited budget, and also introduces students to the PFS concept and the role university research institutions can play in the social impact process. It highlights the key opportunities and challenges of launching such research labs and concludes with several key decision questions that should be considered.
Branded Lifestyle Holdings Limited (Branded Lifestyle) was an Asian apparel retail company that emerged in 2011 after Fung Retailing Limited acquired Hang Ten Group Holdings Limited, a company listed on the Hong Kong Stock Exchange. With five apparel brands, Branded Lifestyle was profitable in most of its Asian markets. However, it was struggling in China and had reported annual loses until the acquisition. In 2014, a new managing director of global brands was appointed at Branded Lifestyle. Looking at the evolving apparel industry in China, and reviewing the company's weak performance over the past years, the managing director knew he needed to develop a strategic plan to turn around the company's operations. His aim was to build a strong and sustainable business in the Chinese market.
The case describes the career path of Lebanese businessman Fadi Baaklini and traces the evolution of MEPCO (Middle East Paper Company), the enterprise he founded with a partner in 1997. MEPCO started out selling paper and later became a paper trading company, operating in markets in the Middle East, North Africa, and India. After presenting Fadi Baaklini's initial experiences as an entrepreneur and his early career in the timber industry and then the paper industry, the case focuses on MEPCO's rapid growth into a successful paper brokerage and prosperous SME. In 2005, the company opened a sales office in Tunisia and a subsidiary in India. In 2006, Fadi Baaklini bought the shares of his business partner, becoming the sole owner of MEPCO. From 2006 to 2016, MEPCO continued to expand, opening new sales offices in Egypt and Lebanon. In 2017, MEPCO employed some thirty people and had over US$100 million in sales. Fadi Baaklini has decided to put his retirement plans on hold in order to launch a new partnership with a Canadian firm specializing in biodegradable chemicals. His plan is to export these products to India for use in waste-water treatment, as well as in the agricultural, pulp and paper, and poultry industries. He sees in this opportunity the potential to turn MEPCO into a multinational company generating billions of dollars in sales.
In 2013, the Indian government passed a new Companies Act that mandated a two per cent spend on corporate social responsibility (CSR). This amount needed to be spent on activities over and above the normal course of business. As a result, the senior vice-president of corporate affairs for Nestlé India was facing a complex problem. He needed to revisit all existing programs—the ones covered under the normal course of business and the ones that had no relationship with the normal course of business—and then decide which ones to extend further. Any decision to discontinue programs would have an adverse impact on the company and on the many people who had come to depend on them. What was he to do?
On January 5, 2015, the chief executive officer of the Beijing Aircraft Maintenance and Engineering Corporation (Ameco) was busy reviewing the company’s annual report. Overall, the company’s performance in 2014 had been good: eight foreign airlines had become new customers of the company, which meant that more than 70 international customers had signed contracts for airline maintenance-related business. The growth trend in labour costs had been contained to a certain extent, thanks in part to the implementation of the Direct Control of Personnel Cost monthly performance evaluation program. Over the previous four years, the implementation of this program had generated many positive influences on Ameco. However, new challenges created by changes in the external environment resulted in sharp conflict among departments, raising questions such as how could Ameco set up indicators to motivate the employees and keep talented personnel in the company; minimize the impact of external factors; and avoid the phenomenon of “unmerited” workers being rewarded. How could Ameco use performance appraisals to increase the overall performance of the company?
In June 2017, transportation company Uber Technologies Inc. (Uber), which operated in 70 countries and had net revenue in the fourth quarter of 2016 of US$1.7 billion, fired its chief executive officer, Travis Kalanick. By the time of Kalanick's departure, negative publicity had contributed to a decline in market share, and a number of other high-level executives had left the company. What options could the company identify for the future that would address existing issues, including those surrounding its culture, practices, financing, and consumer confidence?
In January 2017, Banro Corporation, a Canadian gold mining company in the Democratic Republic of Congo, underwent recapitalization to cope with financial distress, and to optimize its operations of mining assets. Since the commencement of commercial mining in 2009, unexpected social conflicts and operational challenges had led to significantly lower production than expected, with a large cost overrun, while the price of gold declined sharply from 2012. Would the recapitalization enable Banro Corporation to carry out its medium-term strategic plan of incremental growth by operational improvements, through cost reduction and throughput expansion over a five-year horizon? How could the company achieve its long-term goal of being a model of excellence in sustainability?
Infosys Limited, a large Indian information technology (IT) company, had set a target of achieving revenues of US$20 billion by 2020 (known as Vision 2020) and thus needed swift growth. Acquisitions were a possible source of growth, but the problem was where and what to acquire and how to take the post-merger integration factor into account for achieving this growth. Infosys Limited had already made several acquisitions, which improved the company’s client base, knowledge, and geographical expansion, but a few had also been controversial. If Infosys Limited was going to use acquisitions to continue the swift growth it needed to meet its Vision 2020, the company needed the right buyout strategy. Which business and geographical segments should Infosys Limited invest in, and what should be the key determining factors to drive the acquisitions—increased clientele, enhanced technology, or increased geographical reach?
Sagamok First Nation (Sagamok) was one of several First Nations living on land that was a mineral resource. Canada's Indigenous Peoples had an historical claim to swaths of land and their resources; however, as Canada became increasingly colonized, the government negotiated treaties with the First Nations that resulted in smaller boundaries for First Nations lands, but required mining companies that wanted to mine reserved lands to negotiate access with the relevant First Nation.<br><br>Sagamok had negotiated access with three mining companies and their relationships with the three companies varied. One relationship left Sagamok with open pit mines and an environmental mess; another resulted in good relations, opportunities for Sagamok, and environmental stewardship; and the third was in early stages and already showing problems. In 2016, the Chief of Sagamok needed to resolve the dispute and to consider how to apply what the community had already learned to build capacity in evaluating opportunities for resource extraction, environmental stewardship, and economic development.