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This case discusses the events following the 2006 $33.2 billion buyout of Hospital Corporation of America (HCA) by a consortium of private equity firms, including Bain Capital, KKR, and Merrill Lynch's private equity arm. The case highlights some of the core features of private equity investing. The first objective of the case is to allow students to understand a range of issues associated with the process of exit through an initial public offering. Understanding the economics of leveraged recapitalizations- including leveraged dividend payouts to financial sponsors and the opportunistic 2011 repurchase of Merrill Lynch's $1.5 billion stake-is the second objective of this case. The case protagonist is the management of HCA.

The case follows leading Scandinavian media company Bonnier as it establishes a designated R&D division for the first time. The case, in particular, focuses on its first flagship project, called Mag+, in which it creates a digital platform for publishing digital magazines on the iPad. The case is intended, in part, as an introduction to the challenges media companies face due to the disruptive effects of digitalization, where traditional products and services are challenged by new digital category breakers such as the iPhone, Hulu, or Netflix. To this end, it offers a short tour of the changing print media landscape and reviews major upheavals in its business models. The Bonnier case illustrates how to engage in and manage a radical digital innovation process. In particular, it discusses the challenges associated with responding to the disruptive effects of digitalizing printed magazines. It illustrates concrete challenges that the Bonnier R&D manager Sara Öhrvall needs to tackle as she starts as the first R&D manager at Bonnier.

This Note summarizes the potential of the Jobs Act of 2012 to change the way in which emerging growth companies, or EMGs, access capital markets. Described as among the most significant change to US securities laws in over 20 years, the Jobs Act may reduce the burdens associated with going public while at the same time making it easier for EMGs to remain private. In addition to the so-called "IPO On-Ramp" and "crowdfunding," the Note briefly discusses the changes to general solicitation and general advertising rules, the private holder cap and mini-public offerings.

The case deals with U.S. Financial Service Company (USFSC) and its CEO, John P. Lewis, and their consideration whether or not the company should open operations in India. USFSC would either partner with a local financial service company or invest in a new start-up bank branch or representative office in India. Although Lewis is conducting this analysis in 2012, the case covers the time period from 2005 to 2012 to provide background and to review the economic developments and political policies undertaken by the Indian government to recover from the global financial crisis of 2007-2009. The case requires a performance analysis of the financial ability of USFSC to undertake expansion into India and/or the case also requires an assessment of the economic and political risks of investing in India and how to mitigate those risks

BBC Pvt. Ltd. (BBC), a chemical manufacturing company, was in urgent need of funds in order to secure an important contract. BBC was able to manufacture a product that involved low investment in the form of fixed assets. Although the product was of an inferior quality due to its cost-effective production, the company was able to pass on that cost advantage to its end customers, enabling BBC to maintain its position in the market. In addition, the company sold the product primarily on credit and was therefore a preferable option for buyers. BBC followed a traditional approach to working capital management. Its assets were much greater than its liabilities. The company repaid its creditors promptly before the credit period. However, in terms of credit management, the company followed a casual approach. It extended credit sales for large periods and its large inventory in the form of raw material and finished goods resulted in excessive blockage of working capital. In this case, BBC had the opportunity to pursue a promising contract that would require significant investment immediately. The company's managing director needed to make a decision about how to obtain and manage adequate funds for the upgrade that BBC needed in order to secure its contract.

This case looks closely at the management of a branch of the YMCA in Boston during periods of growth and contraction and at the development of Wendy Zinn's career, all in the context of the YMCA's organizational culture. The roles of strategy, decision-making, leadership and organizational culture are described as critical both to the organization's development and to the career development the organization affords. Social capital and networking skills are also critical success factors in the YMCA's growth.

The focus of the case is on understanding firms' campaign contributions and lobbying strategies - and their limits. The case centers on controversy facing Target Corporation in 2010. In the wake of the Citizens United decision, Target was one of the first companies to take advantage of their newly acquired freedom to use corporate treasury money (rather than money in a corporate-linked PAC) to make a contribution to an independent expenditure committee (aka "Super PAC"). The company decided to make a donation to Minnesota Forward, a political action committee that had the primary goal of supporting job creation within the state. Pro-gay rights activists discovered that Minnesota Forward primarily backed Republican gubernatorial candidate Tom Emmer, who had previously supported traditional marriage. After this, Target, despite its liberal and socially responsible positioning, was subject to harsh criticism and activist protests as its donation was viewed as a contradiction to its social policies. The events put CEO Gregg Steinhafel in a position to revisit the company's policies towards political activities. Should there be constraints on what the firm would do on the political front? If so, what should those be?

Pure Organic Food and Juice Bar (Pure) is a restaurant located in Collingwood, Ontario specializing in raw, organic and vegan foods. The company's strategy is to tap into the growing demand for food that is associated with a healthy and more sustainable lifestyle. However, the difficulty of attracting customers in a small town with seasonal fluctuations in the number of residents/visitors, combined with competition from "green" products provided by competing restaurants and grocery stores and the lack of a focused strategy have resulted in weak profit levels. The co-founders are wondering what needs to be changed to tap into the lucrative mainstream market. Students are pushed to think about how Pure should change its strategy, what sorts of marketing approaches it should use and, most importantly, how the co-founders can tap into the mainstream market without compromising their original values.

With roots in sporting and excursion goods, Abercrombie and Fitch Co. (A&F Co.) has grown into one of the most well-known men and women's retail clothing brands by 2012. From the beginning, A&F has "stuck to (its) knitting by not trying to be all things to all people" and adopted the philosophy of creating a unique brand experience throughout each of its subsidiary brands. The company's CEO was faced with the decision to focus attention on expanding direct-to-consumer operations and international brick and mortar stores, while closing stores domestically. The brand saw growth in sales in recent years but, in 2011, saw a drop in shares after missing Wall Street's projected estimates. A&F Co. was in an interesting position - the company had to decide where to focus its brand and which market segment it would cater toward.

In the summer of 2010, the landscape of university athletics in the United States faced the potential for groundbreaking change. U.S. university sports teams belonged to conferences - alliances of competing sports teams, often from similar geographic locations. Rumours of conference realignment were suggesting a significant shift away from traditional conference membership and structure. With renegotiations for a multi-year television contract looming, a prominent conference has announced plans for expansion, with the goal of securing a lucrative television agreement through new members. While considering factors such as resources, exposure and tradition, various conferences are actively pursuing one dominant institution in particular, the University of Texas. As a result, the Texas team faces a crucial decision: to leave its position for another conference and significantly alter the landscape of collegiate athletics or to remain a member of its current conference and face the ramifications involved in any additional fragmentation.

This case describes the sourcing policy for a consumer electronics company. The company must decide how to structure contracts with their supplier - using a purchase contract, an option contract, or combination of the two. The company can also buy from the spot market. The students use a spreadsheet model with Monte Carlo simulation to analyze the contracting options.

In 2012, Cisco was under intense pressure to show results: growth in its core business was decelerating and a number of exploratory ventures and acquisitions had not proven as profitable as expected. CEO John Chambers vowed to restore the company's health in a way that would support the agility and entrepreneurial mindset required to be successful in emerging sectors while continuing to achieve efficiency and profitability in Cisco's core business. In a world where technologies and customer segments were rapidly evolving, Cisco executives realized that their emphasis on working collaboratively through councils and boards (the company's staple organizational structure in the 2000s) might be impacting the Cisco's ability to be nimble and responsive. This case explores these challenges and Cisco's strategic and organizational response, with a particular focus on Cisco's comprehensive restructuring.

Law Professor Ronald Sullivan was asked to lead a turnaround of the Orleans Public Defenders as a one-year assignment following Hurricane Katrina in 2005. The office was underfunded and had perverse incentives embedded throughout the system. Sullivan's new vision to rectify the challenges was not readily accepted by judges and lawyers who benefitted from the flawed system and put up resistance. The case follows Sullivan and his team in their efforts to bring about positive systemic change to the Orleans Public Defenders and at a minimum live up to the principles provided by the American Bar Association.

Supplement for case 313026

Spreadsheet supplement for case 211072.

The executive of Government and Corporate Affairs at Qantas airlines faced a communication situation that was spiralling out of control. Qantas had launched a contest through the social media service Twitter, asking participants to use Twitter to describe their "dream luxury inflight experience." However, the competition dissolved as thousands of people used the opportunity to express negative comments about Qantas. By the second day, nearly 15,000 people worldwide had used social media to vent their frustrations with the airline. The executive needs to devise a plan of action, before additional damage is incurred by one of Australia's strongest brands.

This case looks at how a new entrant into a market dominated by three established incumbents can win consumer support. Wind Mobile, a new entrant in the Canadian telecommunications industry, not only has to compete with rivals Bell Canada Enterprises Inc., Rogers Communications and Telus Corporation but also confronts Canadian regulations concerning foreign ownership. Although the regulatory body, the Canadian Radio-television and Telecommunications Commission (CRTC), has ruled that Wind is not Canadian controlled, the Conservative government of the day supports the company and the liberalization of the market. The contradictory stances of important regulatory players leaves considerable confusion as to the right of Wind to compete. In addition to its legal challenges, Wind has to secure customers and takes an aggressive stance against the incumbents, who deploy a variety of tactics, including fighter brands and long-term contracts, to retain their customer base.

This note deals with the issues of strategy, the first common source of acquisition failure. An appropriate master plan that links strategy and integration is a critical requirement for this interplay and ensures that the target will improve the acquirer's overall competitive abilities.