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VALR: More than Courage Required to Scale
內容大綱
<p align="justify">VALR, a cryptocurrency platform and South African financial technology (fintech) company, was experiencing scaling challenges in August 2021. Launched in 2018, the start-up took on the market incumbent—a company trading in 40 countries. Within 18 months, VALR had become the market leader in terms of locally traded volume. However, this created growth pains and presented the issue of how the company could scale successfully. The company’s chief executive officer, Farzam Ehsani, believed that entrepreneurial orientation (EO) was a core strength and an instrumental factor in VALR’s success, but he was faced with the dilemma of how to scale it. The founding team had been able to sustain an organizational culture that advanced autonomy and risk-taking to that point, and maintained high levels of competitiveness and service. However, as the business entered a new phase of maturity, Ehsani faced the challenge of how the organizational culture could be scaled to continue fostering EO. In addition, Ehsani worried about the regulatory uncertainty that characterized the cryptocurrency industry.
學習目標
<p align="justify">This case study is best suited to undergraduate- and graduate-level students in the fields of entrepreneurship, strategy, and innovation. This case brings together the theories of EO and scaling of ventures, addressing the question of how to scale EO and how rapidly to scale in the face of regulatory risk and complexity. EO is made up of five components: autonomy; competitive aggressiveness; innovativeness, proactiveness and risk-taking. After working through the case and assignment questions, students will be able to do the following:<br><br><ul><li>Identify each of the five EO dimensions and apply the EO framework to their own working context.</li><li>Explain the link between EO and an organization’s performance, and comprehend why nurturing EO should be a priority for companies that want to positively influence performance.</li><li>Equip students with the ability to perceive which companies are likely to perform well, and leave them with an appreciation for members within in their own organization that demonstrate EO.</li><li>Apply the knowledge transfer framework to explain how ventures should scale, and recommend which processes should be put into place by performing a gap analysis.</li><li>Define the various strategies available depending on the level of regulatory complexity and regulatory risk, and recommend which strategy would be most appropriate in the specific circumstances.</li></ul>