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Action Education: A Customer-First Strategic Change
Founded in 2006, Shanghai Action Education Technology Co., Ltd. (Action Education), a provider of management training services for small and medium-sized private enterprises, was the first listed management education company in China. In 2014, due to the fierceness of the market competition and the splitting of the top management team, Action Education changed their strategy from a product-oriented one to customer-oriented one and repositioned themselves as a "world-class practical business school." This strategic change not only helped Action Education win the recognition and loyalty of their customers but enhanced the company's profitability and management ability. However, with the COVID-19 pandemic in 2020 and rising consumer demand, Action Education faced increasing pressure. Li Jian, the chair of Action Education, is considering two paths with different customer value focuses: should he add a consulting business unit and provide one-stop services for customers or standardize the company's management training services and improve their quality and delivery? -
Options Pregnancy Centre: Too Many Options?
In December 2021, the director of Options Pregnancy Centre (Options) was challenged with determining how to expand the services offered by the organization in its Montreal, Quebec, community, as the need to support women who planned to carry their pregnancies and pursue parenting was becoming more acute. Options already offered counselling, grief and loss support, and a variety of parenting programs; it also facilitated required medical services and provided opportunities for pregnant teens to live with host families on either short- or long-term bases. The organization occasionally had opportunities to develop its own residential program. Doing so would mean shifting its strategy from providing services on a non-residential basis to having its own residential program. Should Options expand its current non-residential programs? Should it more actively recruit families who were willing to take pregnant teenagers into their homes for short periods of time? Should it take the bold step of making an offer on a residential building that was currently available? The director recognized that it would be necessary to carefully prioritize Options' programming to ensure that it could secure the resources it needed to run effective programs. -
ZGM: Balancing Culture and Productivity at a Service Company
The partners at ZGM Modern Marketing were pleased with their growth and progress of working within the highly competitive marketing industry and had confidence in their team of skilled employees supporting the company's success. But they also knew a good thing never lasts forever and had to continually strategize to stay ahead of the competition. While the partners were used to being very hands-on with the day-to-day management of people, ZGM had grown to a point where it was becoming difficult to juggle all aspects of the business without adding specialized resources. Bringing on non-billable people such as the new HR Director puts a strain on the profitability of a company. The challenge was how to maximize the value of these new resources. -
Digital Davids, global Goliaths, and the Web3 sling
The Web 2.0 digital economy, centered on dominant platforms, generates substantial opportunities for managers and entrepreneurs yet creates critical dependencies. Platform-dependent businesses engage in competitive actions-rivalrous, competitive-cooperative, and relational-vis-Ã -vis digital platforms to gain a fair share of economic value. While the (supposedly) trustworthy custodians of digital data have captured a disproportionate share of revenue and profits, Web3 promises to tilt the balance away from dominant platforms by providing mechanisms that replace centralized organizational trust with decentralized technological trust. Here, innovations such as blockchains and smart contracts complement antitrust laws and regulations in limiting platform power. Furthermore, this study suggests that end users, peers, and regulators may play an important role in helping businesses draw investors', users', and customers' attention away from Web 2.0 platforms. To effectively leverage decentralized trust as a novel aspect of competitive actions, business leaders must pursue Web3 technologies that are reliable, high-growth market segments that are credible, and ventures that are investable. -
Evidence-based recommendations for recorded-meetings policies
Recordings of virtual meetings have become a common part of virtual and hybrid workplace environments. Meeting recordings offer potential benefits (e.g., speedy transcript production, expedited information sharing, searchable information, inclusion of visual and tonal expressions) and drawbacks (e.g., difficulty discussing sensitive issues, employee privacy, limited off-the-record capabilities, and employee concerns over sharing recordings). Given this variance, policies for virtual meetings are a necessity. Managers can successfully implement a policy by cocreating policy preferences with employees in open-ended and nonjudgmental conversations that openly discuss potential benefits, drawbacks, and employee concerns. Topics such as when to record, when not to record, how to gain consent, and who will have administrative and sharing rights should be covered. Areas of less urgency that may yet be part of these discussions include accessibility concerns, the use or rejection of software features, where and for how long meeting recordings should be stored, and such emerging issues as the use of virtual reality and AI tools. Managers should deliver policy preferences to a group of representatives from Human Resources, Information Technology, and the executive team to compose the policy, request a legal review, and to introduce and implement it in the organization. -
Fear and the poverty entrepreneur: The paradox of failure and success
When low-income and disadvantaged individuals start businesses-herein, poverty entrepreneurs-the experience of fear can be especially impactful on their behavior. In this article, we explore the role of fear as an obstacle and facilitator in both the launching and development of ventures by poverty entrepreneurs. Two primary fears are examined. The first, fear of failure, has been examined extensively by scholars yet has received scant attention concerning poverty entrepreneurs. Our second focus is the fear of success, which has received even less emphasis and is not well-understood in the context of business. It is a seemingly paradoxical notion that individuals can perceive negative consequences from what is otherwise a successful outcome. Using experiences from the Urban Poverty and Business Initiative-an 11-month annual intervention program that operates in 32 cities across the globe and serves over 2,000 disadvantaged entrepreneurs-we developed a series of focus groups with poverty entrepreneurs to learn more about their encounters with fear. A reconceptualization of these fears in a poverty context is provided. The potential upsides and downsides of fear when it comes to entrepreneurial behavior are examined, and implications are drawn from the coexistence of fears of failure and success. -
Feel the churn: Exercising talent management practices to support a climate for career mobility
The rise of employee mobility over the past few decades has significant implications for both organizational performance and individual careers. The traditional organizational response aims to combat turnover with increased retention efforts, but we offer an alternative strategy. In this article, we suggest that organizations also support employee mobility by proactively implementing practices that prepare workers for the next step in their career, whether that be internal or external from the company. When strategically combined, these practices can support a climate for career mobility. Drawing on extant management literature and industry publications, we demonstrate how organizations can create and support a climate for career mobility via workforce planning, job design, recruiting, onboarding, offboarding, and total rewards. Taken together, a strategic bundle of practices allows employers to support the careers of mobile workers as well as advance the goals and performance of the organization. -
Fighting fake reviews: Authenticated anonymous reviews using identity verification
Fake reviews have become a pervasive problem in the realm of online commerce, affecting businesses and consumers alike. These fraudulent reviews can cause significant damage to the credibility of companies and negatively impact consumer welfare. While various platforms, such as Yelp and Amazon, have implemented measures to combat fake reviews, these efforts have been largely ineffective and, at times, even exacerbated the problem. As a result, on November 8, 2022, the Federal Trade Commission announced that it is soliciting input for possible regulations around ways to fight fake reviews. The growing sophistication of Artificial Intelligence-particularly generative AI technologies like ChatGPT-worsens the problem by enabling the production of human-like fake reviews at an unprecedented scale. This lends new urgency to the fake review problem, so it is imperative to examine the pros and cons of extant approaches and propose alternative approaches that are better equipped to tackle the issue. In this article, we introduce a novel approach using digital identity verification, which involves verifying a user's identity via various forms of digital information that represent the individual and have not been applied to online reviews. We highlight the limitations of extant techniques and outline ways in which digital identity verification may be a promising solution to the problem of fake reviews. Potential benefits and challenges, as well as the effectiveness of our proposed approach in addressing the issue of fake reviews, are discussed. -
How business pivots during war: Lessons from Ukrainian companies' responses to crisis
This article explores how large companies in Ukraine have been responding to the crisis caused by the war. We find that the core theories of managerial reaction to crisis-the threat-rigidity and contingency theories-aptly describe companies' responses to the war, with the first theory explaining companies' initial reactions, and the latter theory explaining the subsequent behaviors of companies as the war continued. The most surprising findings here were the value of the pandemic as an experience in dealing with war, and the way in which, when war becomes the new normal, managers seek to take advantage of opportunities to build resilience and redundancy. The shift in perception and attitude this entails exemplifies the adaptability companies display in the face of such difficult situations as a full-fledged war. Our research yields four suggestions for managerial responses to crises: (1) view every crisis as a learning opportunity in preparation for future crises, (2) use business continuity plans as a means of reducing initial threat-rigidity reactions, (3) prioritize crucial over nonrelevant corrective actions, and (4) recognize that crisis-generated discontinuities may last longer than expected, thereby requiring long-term plans that respond both to emerging threats and to novel opportunities. -
To Adapt During Crisis, Take a Lesson From Jazz
What will inspire your team to gain agility during a grave crisis? A multiyear study of two prominent orchestras during the pandemic revealed three critical leadership practices to help teams transform. One key: Leaders need to think more like jazz musicians. Executives in any industry can apply these practices during their organization’s next disruption. -
Kyrö Distillery Company: Brutally Finnish in Japan
Kyrö Distillery Company (Kyrö), founded in 2012 in Isokyrö, Finland, focused on producing rye whisky from Finnish rye. However, it took an average of three years for one batch of whisky to be produced and ready for sale, so, to cover their costs and stay afloat, the founders decided to start producing gin, which could be produced faster. As luck had it, in 2014, Kyrö's rye-based Napue Gin was named the best gin in the gin-and-tonic category in the UK-based International Wine & Spirit Competition, and Kyrö now had two promising products in its roster: rye whisky and rye-based gin. <br><br>Kyrö exported its products to overseas markets, including Japan, where its results had so far been modest, but it planned to expand and grow its businesses in Japan. As an underdog in an industry dominated by major global players, Kyrö had to work to increase its market share. It relied on its authentic brand image, original products, and brand ambassadors. In September 2022, as one of Kyrö's co-founders travelled to Japan to meet with the company's main Japanese distributor, he wondered, How could the company gain growth in a market that was highly competitive and dominated by well-established local companies? -
BigBank: Confidential Information for Borrower 1
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BigBank: Confidential Information for Borrower 2
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BigBank: Confidential Information for Lender
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AMAG: Creating its own future in a disrupted automotive industry
AMAG is Switzerland's premier automotive retail and service company, holding exclusive rights to import Volkswagen Group car brands such as Audi, Volkswagen, Skoda, Cupra and Seat. In 2022 AMAG had 7,300 employees and a revenue of CHF 4.4 billion. The electrification of the automotive industry and the introduction of the agency model by the Volkswagen Group are major challenges for the traditional Swiss company. The case describes AMAG's traditional business model, including recent changes, its vision and ambitions. Follow Frank Boemerle, the head of strategy at AMAG retail, as he develops new business models and captures insights about the company's transformation journey. New business models like Mobility as a Service (MaaS) and Retail as a Service (RaaS) are elaborated and described. Existing and future profit pools are analyzed, and new business opportunities and threats are discussed. The EV transformation and digitalization require up to 50% fewer employees in the after-sales service business, and the impending agency model questions the current infrastructure and capital employed. Therefore, AMAG is searching for new mid-term revenue streams and new employment for the workforce. Change management and up-skilling of the employees are additional challenges after the changes in the financial transactions of future business models on a subscription base. Shall AMAG invest in renewable energy to offer electrification packages to customers next to EVs? Shall AMAG expand to Italy and France? Shall AMAG expand the EV portfolio with new brands from China and potentially risk its exclusivity with Volkswagen? Support Frank in the analysis and make your conclusions on how AMAG can stay in business in Switzerland beyond 2030, given that the electrification of mobility and the new agency model disrupt the main revenue streams of AMAG's current business model. -
Tata Motors: Challenges for the Electric Vehicle Market Leader
Tata Motors Limited (TM), a subsidiary of Tata Sons Pvt. Ltd., was the market leader in the passenger electric vehicle (EV) segment in India. Natarajan Chandrasekaran, chair of Tata Sons, was pleased with the work of Shailesh Chandra who, as managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility (TPEM), had been instrumental in TM's successful turnaround. Chandrasekaran wanted Chandra and his team to capitalize on the robust demand for passenger EVs in India to reach 25 per cent of TM's total sales by 2029, up from 8 per cent in December 2022. However, attaining it was not easy because he would face an onslaught from multiple competitors that would threaten TM's existing market share. To enable TM to maintain its leadership position in this segment in India and to grow over time, Chandra and his team had to ensure they correctly assessed the passenger EV industry's competitive forces. From this analysis, Chandra would then have to evaluate his competitors' strategies and formulate TM's defence and growth plans. -
Tesla Motors in 2024--Turbulence Ahead?
Over its 20 years in existence, Tesla had become nearly synonymous with electric vehicles, and the company assumed an enviable market position. By 2023, however, Tesla faced intense competition. Traditional carmakers and EV upstarts were expected to introduce close to 50 new EV models in 2023 alone. Tesla had to decide how to re-position itself in this drastically altered business landscape. -
Making Strategic Choices
This note lays out a process that students and business leaders can follow to make well-integrated sets of strategic choices. -
Colbun and Chile's Energy Transition
In May 2023, Colbún, Chile's second-largest electricity generator, plans capacity expansions using renewable energy and storage. This strategy supports Chile's commitment to carbon neutrality (also known as net zero emissions) by 2050. The case delves into the advantages and disadvantages of several energy sources and storage technologies, taking into account Chile's energy transition pathway. Colbún aims to expand while ensuring a reliable 24/7 power supply, a challenge due to the intermittent nature of some energy sources, such as solar and wind technologies. To this end, the company must consider complementary energy sources and storage solutions. Additionally, there is a need for new or upgraded transmission lines to transport electricity from new plants, along with regulatory changes to accommodate energy source characteristics. However, these changes are not unfolding as rapidly as renewable energy projects across the country. Chile has become a global hotspot for solar and wind energy developers, but several companies are already running into obstacles. José Ignacio Escobar, who became Colbún's CEO in 2022, must navigate this intricate landscape to determine whether to expedite the company's shift into renewable energies. This choice includes selecting the most suitable technologies to invest in while striking a balance among competitiveness, energy security, reliability, and the sustainability of the energy system. Taking a close look at Colbún's operations, this case illustrates the intricacies of conducting business in the context of global energy markets. It particularly underscores the challenges posed by the ongoing decarbonization of energy systems. -
Silicon Valley Bank: Gone in 36 Hours
This case examines factors contributing to the collapse of Silicon Valley Bank (SVB) in March 2023, an event as unpredicted as it was quick. SVB funded nearly half of all U.S. venture-backed startups and at the end of 2022 held $173 billion in deposits, largely comprising the venture capital those startups had raised. On February 28, 2023, Moody's warned SVB about a potential credit rating downgrade, reflecting concerns over "funding, liquidity, and profitability" which factored in substantial unrealized losses on SVB's debt securities. To strengthen its balance sheet, SVB sold $21 billion in securities on March 8, but the move shocked its customers, as it resulted in a realized loss of $2 billion. The ensuing bank run intensified as SVB proved unable to placate investor fears or raise capital to plug that hole, and SVB was placed in receivership on the morning of March 10. Finger-pointing began immediately. Some argued that misguided pressure from Moody's over the fair value of SVB's debt securities prompted the bank's death spiral. Others blamed SVB management and directors, its regulators, and the venture capitalists whom SVB otherwise benefited. What went wrong, and what lessons could be learned?