Spruceland Properties Inc.: Social Enterprise through Real Estate Development

內容大綱
In February 2016, SpruceLand Properties Inc. (SpruceLand) faced a difficult decision that would determine the future of the company. SpruceLand had been founded as a community development company mandated to create financial returns while engaging in socially beneficial projects. Residents of the northern Alberta region could choose to be shareholders and invest in their own communities’ economic development. The company had grown successfully, but it had become a victim of its own success. It had diversified investments and continued to grow and be profitable, but the company’s initial mandates had long been achieved and the liquidity of shares remained a problem. What actions should the chief executive officer recommend to the board?
學習目標
This case can be used in both undergraduate- and graduate- level courses on corporate finance, real estate, or general business, or in strategy courses that focus on corporate governance or alternative business models. This case could either be introduced early in a course to pique students’ interest or used later in the course to summarize students’ understanding of this content. After working through the case and assignment questions, students will be able to do the following:<ul><li>Effectively analyze and evaluate options for dissolution, restructuring, or continuation, keeping in mind strategy, finance, and a consideration of social factors.</li><li>Understand the reasons for establishing a dividend reinvestment plan and the issues around setting the price for a thinly traded stock.</li><li>Evaluate a social enterprise model and assess the feasibility of replicating it elsewhere.</li></ul>
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