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The decision to go public is a very complex process for a growing business. From completing the requirements of the US Securities and Exchange Commission (SEC) filings to answering complicated questions from potential investors, it is a major decision and an inflection point in the journey of a private company. Yet, the benefits often outweigh these downsides and cofounders are usually excited by the prospect of an initial public offering (IPO). This technical note aims to unpack the process of IPO, including the internal and external factors companies need to judge when considering taking the step.

This case examines Rent the Runway (RTR), a company that provided its customers the luxury of getting to wear the hottest designer fashions without having to pay the often exorbitant price to own the clothing. RTR built the world's largest shared designer closet, containing over 18,000 styles by more than 750 designer brands. Customers could rent individual pieces, buy products through resale offerings, or pay for a subscription guaranteeing new deliveries monthly. RTR went public with an initial public offering (IPO) on October 26, 2021. While some investors were initially excited about the first company with an all-female board and all-female leadership team to go public, RTR's unicorn status was not enough to guarantee success. RTR had decided to go public to fuel its expansion plan as well as pay off debt, but things didn't go smoothly after the IPO, and the company suffered from bad press related to its unexplained financial reporting. The case, appropriate for finance, leadership communication, and general management courses, encourages students to consider communication strategies employed by firms going public and digs into several specific issues such as depreciation of assets. Though the case focuses on the struggles of the company focused on a public offering to generate capital, it also provides a variety of other discussion topics such as the purpose of an IPO, the right time for a company to go public, and how to tackle the scrutiny of investors in a newly public company. It pairs well with a technical note, ""All Things IPO"" (UVA-BC-0282), which unpacks the process of an IPO, including the internal and external factors companies need to weigh before taking the step.

Honorable Mention; 2022 DEI Global Case Writing Competition. It is March 2022, and Imani Furaha, founder and CEO of Dynamo Relations, is at a key point with respect to the next step of her company's growth. After growing her public relations and brand management firm in both 2018 and 2019, the company had been hit by hard times during the COVID-19 pandemic, forcing her to make some tough adjustments. As the pandemic waned, Furaha was ready for lucrative new projects. But what had at first looked like the project that could give Dynamo a huge lift, turns out to be possibly detrimental to a star employee-Nathaniel de Guzman-who was born with cerebral palsy. Dynamo just received a proposal from one of its biggest clients, the mayor of Chicago, who is running for governor of Illinois. The mayor wants de Guzman as her key PR representative on her campaign and he clearly has the required skills and experience, but Furaha has many concerns. Are there increased physical risks for de Guzman due to the many on-site appearances required with a statewide campaign? Will Dynamo have to bear additional costs associated with his travel and work accommodations for this assignment? Might he become tokenized as a "voted-getting" element?

In the summer of 2022, it became clear that Netflix would introduce an ad-supported tier alongside its existing subscription plans in the near future. Speculation abounded as to the details of the new tier: How many minutes of advertising would it include? What picture quality would it offer? How many screens could be viewed at the same time? And, critically, how much would it cost the consumer per month? In this exercise, students are tasked with trying to assess whether Netflix should indeed go ahead with introducing a new ad-supported tier - and if so, how? - or whether the company would be better off sticking with its existing tiers and repricing them - and if so, by how much? Students need to evaluate which of these options would maximize the number of subscribers, and importantly, profits. Students have at their disposal results from market research (specifically a conjoint analysis study), financial reports, and industry data. The exercise also allows for a conceptual discussion of the merits of alternative revenue models: ad-driven vs. pure subscription-driven vs. a hybrid of the two.

Spreadsheet supplement for case 523033.

This note provides an overview of real estate iBuying, or instant buying, a business model that involves buying homes and then reselling them at a profit. Introduced in the mid-2010s, iBuying streamlined the process of selling a home by offering instant, all-cash offers to sellers. This note includes context on the traditional home buying and selling processes, the impact of property technology (PropTech), the iBuying process and unit economics, and the iBuying market landscape (e.g., top players and geographic markets).

Supplement to case 920051.

In 2020, the World Health Organization (WHO) had faced the largest existential crisis since its founding in 1948. The directing and coordinating authority for health within the United Nations system, WHO had been severely criticized for its response to the COVID-19 pandemic by several member countries - especially the U.S. The organization had been accused of being too China-centric, not doing enough to quickly obtain accurate information from China about the new airborne illness, failing to press China for the speedy admittance of a WHO team of international experts, and only declaring the spread of COVID-19 to be a public health emergency of international concern (PHEIC) at a time and in a manner that was deferential to the Chinese government. Dissatisfied with WHO's actions, U.S. President Donald Trump decided in April 2020 to suspend funding to the international organization and, three months later, formally withdrew the U.S. from WHO. Based entirely on public information, this case gives students an opportunity to reflect on WHO's role in dealing with global health crises, why it was criticized during the early months of the COVID-19 pandemic, whether that criticism was warranted, and how the organization could be reformed to prepare for future PHEICs.

Organizations and top teams downplay or ignore how hard it is to be a good manager to skillfully hire, engage, develop, coach, supervise, evaluate, and promote people. Most managers aren't held accountable for building and exercising these critical skills. Instead, they've internalized the strong message that qualities like strategic vision and executive presence matter much more, leaving them and their organizations poorly equipped to deal with reality. Here are the skills that can turn the tide.

June 16, 2020, marked another milestone in the Hong Kong Jockey Club (HKJC)'s long history - the opening of the new Clubhouse. Scarlette Leung, the Executive Director of Corporate Planning, Branding and Membership at the HKJC, was introducing the new clubhouse to the guests attending the opening ceremony. Nearly forty months after the new Clubhouse design and business plan was approved by HKJC's Board of Stewards, it was finally ready to be unveiled to HKJC's members. The HKJC had long contemplated the implementation of a digital transformation. The launch of the new Clubhouse project provided the opportunity to go ahead and realize new benefits and services for the members. The initial usage patterns and informal feedback indicated that members were delighted with the new Clubhouse, especially the younger segments. With the new clubhouse, the demand pipeline had increased. Many members had also started using the new digital app, even some of the older ones who were less tech savvy. Still, it was too early to pop the champagne bottles. Challenges remained on the horizon. The pandemic was still ebbing and flowing. Government-imposed social distancing measures severely complicated hospitality businesses, including private clubs such as HKJC. Scarlette was reflected on some of the challenges lying ahead. Would the recent initiatives be sufficient to attract younger members to the Club without alienating older club members? Would there be more breakthroughs for operations to realize new capabilities from the membership transformation? Would new programs and events realize the intent of the business design to attract the younger segments and their social circles for more regular visits? And how about the operational staff who had all learned the new way of operation that was hardwired by the new systems - would they continue to improve and buy into the new direction the Club was heading toward?

Joy4Home Brands, the maker of novel houseware items, was gearing up for its launch. The company would be introducing two lines: kitchenware products and storage containers. The initial go-to-market plan called for a direct to consumer (DTC) channel strategy. While Joy4Home had a handle on its customer acquisition efforts, it had yet to determine the DTC pricing for each line. Moreover, two additional opportunities had recently emerged. The first was a B2B opportunity involving a modified kitchenware line, and the second was a brick-and mortar wholesale proposal for larger storage containers. The Chief Marketing Officer (CMO) had market research data and other information to help her determine the optimal pricing scheme for these various sales avenues. Recommendations were needed soon.

Joint ventures make meaningful contributions to corporate revenue and can enable new growth strategies, but they increase their shareholders' risk exposure, often in ways that are hard to manage. The authors see a clear statistical correlation between good governance and the medium-term financial and strategic performance of JVs. To build a foundation for good governance, JV owners must reach clarity and alignment on the JV's purpose and operating model.

In July 2018, Amir Bell was heading the Operational Excellence (OpEx) team for the Light Duty Pickup Truck Seat Cost Reduction program at General Motors (GM). GM had decided to launch the new full-size truck program in 2019 at assembly plants in Fort Wayne, Indiana, and Silao, Mexico. To increase profits, GM sought to decrease costs in the manufacturing process. At the time, GM enjoyed a long-term tier-1 supplier relationship with Skübi Automotive North America LLC (Skübi) for its truck seats. Skübi's facility in Indiana could not fully support the seat assembly for the new truck program, but Skübi did have capacity at its plant in Ohio, and so it approached GM about moving all or some of the new truck seat production. However, GM had investigated some additional cost-saving opportunities. GM could contract directly with tier-2 suppliers (directed buy) for some parts and negotiate volume pricing, though these arrangements could harm relations with long-time supplier Skübi. Alternatively, GM could assume the risk of raw material cost fluctuations by entering material indexing contracts with its directed-buy suppliers. Bell needed to analyze these alternatives and their related risks, and choose the most cost-effective option for GM.

In 2021, Rogers Communications Inc. (Rogers), one of the largest telecommunications companies in Canada, suffered a leadership crisis amid conflict between members of the Rogers family controlling the company. A decision by board chair Edward Rogers to oust chief executive officer Joe Natale triggered a chain of events that pitted Edward Rogers against his mother and two sisters (all board members). The company's complex governance model, which consisted of a dual-class share structure and the Rogers Control Trust representing the majority shareholders on the company's board, made it unclear who had effective decision-making power. In the light of this uncertainty, investors owning Rogers Class B non-voting shares had to decide whether to hold on to, sell, or purchase more shares.

Tire manufacturer Linglong initiated its green supply chain management (GSCM) program in 2018. By extending the ongoing green practices from within the organization to external supply chain partners, Linglong developed a green concept based on the entire product life cycle, which involved materials suppliers, equipment suppliers, distributors, and other stakeholders. After a one-year trial, the company saw an opportunity to mitigate the environmental risks in the supply chain and to enhance both environmental and economic performance at the supply chain level. However, the company also encountered challenges, such as the supply chain partners' limited understanding of the value of GSCM and a lack of senior leadership support among suppliers. Faced with these challenges, Linglong had to decide whether to extend its GSCM program and how to improve it.

Tom Ewart had been recently promoted to associate vice-president (VP) of Sustainability at The Co-operators Group Limited (Co-operators), a Canadian financial services company focused on insurance. Ewart and his team were in the process of publishing the company's annual integrated report to inform stakeholders of the firm's current environmental, social, and governance (ESG) initiatives and commitments. With sustainability trends rapidly growing, Ewart wanted to ensure Co-operators was well positioned to address upcoming changes and to continue to be a catalyst for a sustainable society. Ewart was excited about the growing industry, but he also wanted to find ways to improve Co-operators' current sustainability strategies and ensure the company was on track towards its ESG commitments. One option Ewart was considering was to hire more individuals to join his Sustainability team, which currently had 3.5 employees. Given the lack of clear career structure in the industry, he was unsure of the types of candidates he should be looking for and what sort of experience they should have. Ewart reflected on his own career journey and the path he had taken to reach his current role as a sustainability executive. He also thought about the experiences and traits of his employees and how they brought value to the team.

Major League Baseball (MLB) had been financially impacted by the COVID-19 pandemic. With a shortened season without fans in attendance, revenue-generating opportunities decreased dramatically from previous years. This case examines issues that MLB teams dealt with during the 2020 season, including the loss of revenue during the worldwide COVID-19 pandemic. How would MLB move forward into the 2021 season, having lost a significant amount of money in the previous year? How should its teams invest their resources to maximize earning potential-despite the ongoing pandemic-for this upcoming season and possibly years to come?

This exercise can be used in conjunction with the main case "Zalora: Data-Driven Pricing" to facilitate class discussion without requiring data analysis from the students. Instead, the exercise presesnts reports that were created by the data science team to answer the pricing question presented in the case. The students analyze those reports to facilitate learnings about data genertaing process, descriptive analysis, statistical analysis, and other aspects important for data driven decision making.