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Measurements tend to be consistent and translatable across countries, cultures, and languages. If an object's length is measured in feet in the United States, the measurement will need to be converted to meters for those in the United Kingdom to understand. The physical length stays exactly the same; the description of it is what differs. Time, temperature, weight, and distance are all other measurements that are consistent no matter the place and that simply have to be translated. However, value is a measurement that can vary widely within a single country and between countries. Costs and selling prices fluctuate for a number of reasons, which can result in problems when measuring in the same currency, and it's difficult to create an international standard for how to calculate cost. This text examines financial transactions where accounting rules have tried to solve this inconsistency problem and outlines global differences generally and on a country-specific level. Chapter 4 explores the Islamic religion, Islamic law (Sharia), and how they affect accounting in Muslim countries. Islamic financial institutions have grown vastly in the past few decades; however, international accounting-specifically International Financial Reporting Standards (IFRSs)-differ from Islamic accounting. Zakat (charitable donation) is offered as an example of a distinction and conflict between Islamic accounting and IFRS. A brief history and description of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is provided as well as an outline of accounting standards in several Muslim countries. Accounting concepts and assumptions in Islamic accounting are described, including the entity concept, money measurement, and conservatism. Interest is prohibited by Sharia law, so Islamic institutions use different modes of borrowings and investments to meet financing needs.

Measurements tend to be consistent and translatable across countries, cultures, and languages. If an object's length is measured in feet in the United States, the measurement will need to be converted to meters for those in the United Kingdom to understand. The physical length stays exactly the same; the description of it is what differs. Time, temperature, weight, and distance are all other measurements that are consistent no matter the place and that simply have to be translated. However, value is a measurement that can vary widely within a single country and between countries. Costs and selling prices fluctuate for a number of reasons, which can result in problems when measuring in the same currency, and it's difficult to create an international standard for how to calculate cost. This text examines financial transactions where accounting rules have tried to solve this inconsistency problem and outlines global differences generally and on a country-specific level. Chapter 5 discusses developments that are changing corporate reporting. Rather than focusing solely on financial reporting to shareholders, companies are now paying attention to various interests in corporate activities. Some specific pressures have led to corporate reporting changes, such as giving financial information to employees. Changes in the United Kingdom, the United States, and Islamic countries are described. There are many countries that don't set financial reporting standards anymore, but developments in international regulations are considered, including the establishment of the International Accounting Standards Committee (IASC). Technology has also influenced corporate reporting, especially eXtensible Business Reporting Language (XBRL). The Integrated Reporting Model and sustainability accounting and reporting are also explored.

Many of the most successful firms - such as Alibaba, Google, and Uber - operate platforms. Electric vehicles (EVs) are platform goods as well because value comes from the vehicle plus complementary providers. Gasoline vehicles are also platform goods, but managers in the industry can ignore that because the refueling network is mature. However, temporal and structural differences in network effects for electric vehicles make it crucial for EV firms to incorporate platform strategies. This article explains these differences and outlines the key platform strategy decisions that EV firms need to make, including platform network coordination, launch, and openness.

Aravind Eye Care System (AECS) exploited economies of scale to offer affordable eye care for masses, with a mission to eliminate needless blindness. Over the years, AECS had built a strong organisational culture based on compassion and service. The organisation had made its first foray into large metro cities by establishing a presence in Chennai in 2017 and was gradually scaling up when the Covid-19 pandemic erupted globally in March 2020. The precipitous decline in patient volume triggered questions on the survival of the business model, which was dependent on high volumes. The case details various challenges faced by AECS and the responses of the leadership team during the March-July 2020 period. The pandemic jeopardised the delivery of eye care to patients in need; challenged organisational sustainability owing to dwindling volumes; and affected the morale of employees, who were afraid of contracting Covid-19. As eye camps were not being organised due to lockdown restrictions, vulnerable patients-economically disadvantaged people and older adults-were at risk of blindness; this risk was exacerbated by the postponement of surgery and fears of contracting Covid-19. Fear turned into panic among doctors, nurses and staff when two nurses at Aravind Eye Hospital Chennai tested positive for Covid-19. To tide over the crisis, Dr S. Aravind, Chief Medical Officer (CMO) of Aravind-Chennai, had to return to the roots of the organisation and reinforce its culture. The Covid-19 pandemic had exposed hidden fault lines in society and shortcomings of the efficiency-oriented business model of AECS. Dr Aravind had to determine ways to reduce the fragility and build resilience in the organisation.

Vroom Inc. (Vroom) was a video conferencing technology company located in London, Ontario, Canada. The founder of Vroom was reviewing the company's financial performance for its second fiscal year. He had already reviewed the company's operating decisions over the past fiscal year and was now eager to review the company's financing and investing transactions.

The case revolves around the decision on March 23, 2022 by Mark Schneider, the chief executive of Swiss-based Nestlé, to withdraw the emblematic Kit Kat chocolate bar from sales in Russia in response to the invasion of Ukraine in the previous month, although not its infant food and medical/hospital nutrition, and other businesses deemed essential to the local population. The decision is set against Nestlé's long tradition of neutrality that enabled it to operate in countries regardless of their political system and human rights policies, as well as the corporation's more recent embrace of Michael Porter's shared value paradigm. The case facilitates discussion of the usefulness of the shared value concept, and more broadly provides a vehicle to debate the ethical role and social responsibility of transnational corporations in contexts in which international norms are blatantly flouted.

This two-part case describes the efforts of the Longueuil agglomeration police department (SPAL) and Fady Dagher, its chief of police, to improve relationships between the officers and the communities they serve. In the wake of a policy implemented by the Quebec government to create a more community-based police force, the SPAL had adopted a community policing approach to this effect. The focus of this case is the fundamental transformation of police culture to highlight not just protection but also collaboration, with the police also playing a social role.

This two-part case describes the efforts of the Longueuil agglomeration police department (SPAL) and Fady Dagher, its chief of police, to improve relationships between the officers and the communities they serve. In the wake of a policy implemented by the Quebec government to create a more community-based police force, the SPAL had adopted a community policing approach to this effect. The focus of this case is the fundamental transformation of police culture to highlight not just protection but also collaboration, with the police also playing a social role.

The case describes the family tensions and corporate crisis at City Developments Limited (CDL), a large and well-reputed Singaporean property firm that was the flagship company of a larger family-controlled business group. The gradual transition to the third-generation leader was marked by an aggressive growth strategy in China, which unravelled when the Chinese property sector experienced headwinds and CDL's Chinese joint venture partner experienced liquidity problems. These events forced the family firm to write off US$1.32 billion in 2021, causing it to report its first loss in decades. Moreover, four board members resigned, with one citing "unresolved differences in opinion" as part of his rationale for his resignation. The combination of a corporate crisis and a family boardroom drama elicited questions as to what steps the company should take to recuperate from the adverse events and resume its internationalization strategy.

King's Hawaiian Bakery, West Inc. (King's Hawaiian), a beloved and highly regarded company, produced a line of bread products dating back to the 1950s and was inspired by a Portuguese sweet bread. The business had grown over time, adding more production facilities and expanding from Hawaii to the mainland United States in 1977. King's Hawaiian had done minimal consumer research related to its development of new products before it hired Troy Figgins as its new head of consumer insights. In October 2018, Figgins was tasked with creating a new consumer insights department; what this department looked like and how it functioned were entirely up to him. He was eager to design a best-in-class insights team to work with new strategies, tools, and partners. King's Hawaiian knew it had to conduct market research to uncover insights to keep pace with evolving customer needs-but how? Figgins considered his problem and possible solutions to deliver great insights.

In May 2022, a consultant with global management consulting firm Kearney was working on a project for a private equity client, Opal Partners Inc. (Opal). The client was looking to acquire a high-end wine producer in Oregon and had engaged Kearney to complete an operational due diligence of its wine-making operations. The consultant and his team would be flying to Oregon to complete a series of site visits and ask questions directly to the wine-making team. These meetings would allow the consultant to confirm his assumptions and would provide him with an opportunity to investigate possible operational constraints and identify potential solutions. Kearney's due diligence report was expected to evaluate potential longer-term operational issues, specifically whether Silverton would have sufficient capacity to support Opal's expansion plans, which were expected to start in the 2023 harvest season.

Dual-class share structures offer stakeholders real advantages, but more firms need to follow best practices in deployment to mitigate the risk of abuse. This article highlights four different ways that Canadian firms, including Rogers and Shaw, implement dual-class share structures. It also discusses the related advantages and risks. Advantages include how dual-class shares facilitate the execution of strategy; encourage founders to publicly list stock; insulate the firm and management from short-termism; protect founders from activist shareholders; and protect firms making capital expenditures with long pay-off horizons. Disadvantages include how dual-class shares create agency issues and conflicts of interest, especially when controlling shareholders have minimal economic interest; create an inferior class of shareholders; allow entrenchment of management with directors often elected by controlling shareholders; increase the likelihood of related-party transactions; and reduce the likelihood of independent/non-executive board leadership. The article finishes with some governance considerations, including how the Canadian Coalition for Good Governance developed a dual-class share policy that encourages best practices for companies with dual-class shares. Some of the key principles include subordinated rather than non-voting shares, meaningful equity ownership, and mandatory sunset provisions.

Dietz and Watson (D&W), a family run business that had been operating in Philadelphia for over eighty years, was a key player in the deli meat product market. D&W was concerned about losing market share overall; it was dependent on the aging baby boomer segment and possibly not top of mind for a younger, more progressive demographic. In early 2019, the company's vice-president of brand strategy had to consider various options for investing the brand's resources and offer a credible plan to the chief financial officer. What tactics could the company employ? What were the risks of various marketing strategies, and how could the company mitigate those risks? Could a digital strategy help D&W make inroads with the targeted demographic? If so, what would such a strategy look like?

In March 2020, the outbreak of the COVID-19 pandemic disrupted global supply chains. The spread of the SARS-CoV-2 virus affected the entire world, including the scenic Prince Edward County in Eastern Ontario. Three co-owners of the boutique distillery Kinsip House of Fine Spirits (Kinsip) were inspired to contribute to their community's efforts to limit further spread of the virus. As a distillery, Kinsip was aptly able to produce the principal ingredient of hand sanitizer-ethanol. The other two main ingredients-glycerol and hydrogen peroxide-were generally procured on the open market from North American suppliers. Obtaining the right packaging for the sanitizer as quickly as possible, including both the bottle and the cap, was one of the key challenges the three partners were facing. Another challenge was navigating Health Canada's approval process. In addition, the partners needed to determine Kinsip's capacity to supply hand sanitizer to the local region and the production schedule on which it could deliver the product.

At the time the case is written, Duolingo is the most popular language learning service in the world. The company has more than 40 million monthly active users, and the company's total annual revenue has reached $250 million a year. Still, the sustainability of the business appears uncertain. Critical questions involve the company's approach to monetization, as well as the robustness of its customer growth model. For now, the company's bet on gamification as a mechanism to fuel user engagement appears to be working, but it is also creating tensions involving everything from the company's stated purpose to the company's revenue generation model.

In June 2020, Jeremy Blank prepared for a meeting with his fellow partners at York Capital to discuss an investment he had championed in Enovix, a company developing a state-of-the-art, silicon-based battery. Early-stage technology companies, like Enovix, were not typical investments for York, but Blank had convinced his partners to invest. However, the partnership wanted to be "one and done" without reinvesting in future rounds. By 2020, Enovix had made great progress but not as quickly as forecasted. The company had set out to raise more money and received a term sheet from a well-known publicly-traded company. Blank saw this as an exciting opportunity for Enovix, but he was disappointed to see that it would require York to invest more capital and forego a key protective feature. How should Blank approach this meeting with his partners, and what should he recommend?

For more than 30 years, Dr. Joan Reede worked to increase the diversity of voices and viewpoints heard at Harvard Medical School (HMS) and at its affiliate teaching hospitals and institutes. Reede, HMS's inaugural dean for Diversity and Community Partnership, as well as a professor and physician, conceived and launched more than 20 programs to improve the recruitment, retention, and promotion of individuals from racial and ethnic groups historically underrepresented in medicine (UiMs). These efforts have substantially diversified physician faculty at HMS and built pipelines for UiM talent into academic medicine and biosciences. Reede helped embed the promotion of diversity, equity, and inclusion (DEI) not only into Harvard Medical School's mission and community values, but also into the DEI agenda in academic medicine nationally. To do so, she found allies and formed enduring coalitions based on shared ownership. She bootstrapped and hustled for resources when few readily existed. And she persuaded skeptics by building programs using data-driven approaches. She also overcame discriminatory behaviors and other obstacles synonymous with being Black and female in American society. Strong core values and sense of purpose were keys to her resilience, as well as to her leadership in the ongoing effort to give historically marginalized groups greater voice in medicine and science.

The Green Monday Group was co-founded in 2012 by Hong Kong entrepreneur David Yeung. Capitalizing on the developing global sustainability movement and the market opportunity from growth in flexitarianism, Yeung acquired a research and development company to innovate a plant-based pig meat product, OmniPork. Through product innovation, global distribution, and celebrity endorsement, Yeung was determined to bring OmniPork to global markets. He announced in 2020 that Green Monday Holdings had raised US$70 million of equity investment, the largest funding of its kind in Asia. In 2021, the question left was how those funds could be used to expand flexitarianism globally and capture new consumers of OmniPork.

Mysore Saree Udyog is an iconic retail store in Bangalore for sarees, fabric and other Indian traditional wear. Its success rests on the family's merchandising skills and the delivery of a personalised in-store experience, both of which are difficult to replicate. The next generation has a different vision and does not want to be involved in day-to-day operations. The founders have concluded that the best way forward is to professionalise and expand geographically, but they are worried about the associated risks. The case offers insights into a structured approach for family businesses to build a professional culture and maximise Enterprise value while minimising risks.

In the midst of increasing press scrutiny of the bottled water industry's environmentally harmful practices, FIJI Water made a series of sustainability promises. The boldest of these was a pledge to go "carbon negative." The company said that not only would they offset or mitigate all of their carbon emissions, but would go further, making every purchase of their hip, luxury bottles a net benefit for the environment. The unusual methodology they used to calculate their environmental benefit drew skepticism, and FIJI executives needed to evaluate how to move forward with their sustainability agenda.