Kamrul Tarafder was the President and CEO of ASA Philippines Foundation, a social enterprise dedicated to empowering women by providing microloans for them to start or run small businesses. Unlike traditional microfinance models, these loans are underwritten by able family members and disbursed in groups to reduce administrative costs. The organisation's prudent approach to screening, delivery and collection, which includes starting repayment before the tenure of the loan is over, has made ASA Philippines shape a successful model which aims to solve some challenges of the Grameen cooperative model. Throughout challenging economic periods, Tarafder maintained a strong commitment to financial inclusion by extending the loan duration or waiving loans to support borrowers during difficult times. He operated a sustainable business model by raising funds in the capital markets and ensuring timely repayments to build a positive track record and a credible reputation with lenders. Tarafder hoped to share his insights and strategies with other stakeholders in the industry in order to amplify the impact of microfinance on poverty alleviation and economic empowerment.
After various failed attempts at finding employment for his son with Down Syndrome, Ong Chin Wah, along with four other caregivers of youths with intellectual disability (PIDs) decided to take matters into their own hands. In 2011, they started a cooperative 'Employment for Persons with Intellectual Disability (E4PID)', with its flagship initiative, 'Mushroom Buddies', a social project operated largely by people with intellectual disabilities. The urban farm started with help from a waste management company that offered to sponsor containers retrofitted to grow mushrooms, using the space leased from the Singapore government at a highly subsidised rate. As at June 2023, the farm employed seven PIDs and produced 5-12 kg of mushroom every day that were sold to local restaurants, walk-in customers and at farmers' markets. Mushroom Buddies gave the member caregivers more control over the work environment and the terms of employment, which helped create a model for sustainable, gainful employment for their special needs youth and the opportunity to support more intellectually disabled youth from the community. The founders are acutely aware of the constraints and capabilities their employees have, and recognised that the work needs to be structured and repetitive. 'Mushroom Buddies' was the first successful project by E4PID and while the initial progress is encouraging, for it to sustain and flourish, Ong needs to scale it and find more venture ideas, volunteers, and funds. This case can be used for graduate, post-graduate, and executive classes. Discussion of this case allows students to analyse the issues employees with intellectual disabilities encounter in the workplace.
Afzal Imram, co-founder of State Property, a fine jewellery retailer rooted in Singapore, had achieved a lot. Numerous celebrities, including Michelle Obama, Lady Gaga, Nicole Kidman, and Emilia Clarke, had worn State Property's products. A second brick-and-mortar store had been opened in Singapore, and the company was successful in overseas sales using Net-a-Porter. Despite these successes, State Property's website traffic remained relatively low. Afzal felt that sales would greatly benefit from an increase in the company's reach online. If consumers encountered his company's website earlier in their journey, they could be directed to an online sales platform or a physical store. How could he improve the company's organic ranking in search engine results?
Neeraj Gupta, Principal Investment Officer at the International Finance Corporation (IFC), led the IFC team tasked with assisting the Indian government to structure water sanitation Public-Private Partnership (PPP) projects along the Ganga River. India depends heavily on the river to support its agriculture and manufacturing sectors. Additionally, the river also held religious significance for Hindus. However, inadequate sewage treatment infrastructure had caused the river to become severely polluted. In the past, initiatives launched by the Government of India to clean up the river had been unsuccessful. In August 2011, the National Mission for Clean Ganga (NMCG) was established to help states reduce pollution and implement environmentally sustainable development. However, the lack of expertise and financing made progress slow and external support and advice from the World Bank and IFC was sought. In 2015, a team from the World Bank Group consulted with various stakeholders to understand the problems faced. This time, instead of using the traditional Engineering, Procurement and Construction (EPC) Model, Gupta introduced the Hybrid Annuity Model (HAM) PPP model to address the concerns of both the government and private sector investors. The PPP structure would allow the government to save on the capital outlay as well as engage private sector expertise. The HAM structure allowed for sharing of risks between the private sector partners and the government. The HAM model was successfully trialled in a few pilot projects and Gupta hoped that it would pave the way for more similar projects along the river.
Kaichiro Yamamoto is the 10th generation president of Yamamotoyama (YMY), a tea company that is one of Japan's revered shinise: companies that have operated for more than a century. His only child, Nami Yamamoto, is expected to serve as the first female president of the company after him. YMY had gradually expanded the business overseas to Brazil and the US, and Nami Yamamoto had taken charge of overseas operations. YMY had been a household name in Japan and enjoyed the great reputation of a shinise. At the same time, it faced a changing business environment in which gift giving was becoming less common, reducing demand for YMY's expensive and fine products. Each generation encountered different challenges. Along with it came the tensions among growth, stability, risk-taking, and sustainability. How could the leaders ensure the survival and sustainability of the company?
In 2022, Wang Jun was the chairperson of Ant Fortune, a comprehensive wealth management platform under Ant Group. China's economic growth since 1978 led to a significant increase in the number of people having sufficient money to invest. Ant Fortune aimed to provide inclusive wealth management services to such consumers. Since 2013, Ant Fortune capitalised on China's high internet penetration rate and the popularity of Alipay, and started helping consumers invest in its money market fund Yu'e Bao. The improvement in technology meant that investment barriers were lowered, and users could be easily reached online. Algorithms could help users allocate funds and rebalance their portfolios automatically. Ant Fortune built an open platform to connect users with mutual fund providers. It endeavoured to be user-centric and provided educational tools to help investors make investment decisions. Wang's goal was to make Ant Fortune the most trusted wealth-management platform that promoted investment education to benefit society and the most trustworthy partner for wealth management firms.
Shantanu Bhattacharya, Professor of Operations Management at Singapore Management University (SMU), observed how waste in Singapore was incinerated before it was poured into the country's only landfill. The government wanted to maximise the country's limited land resources by using waste-to-energy (WTE) plants that would decrease the volume of waste that was deposited in landfills. Additionally, the heat generated could be used to generate electricity. In 2005, Keppel Seghers was awarded a public-private partnership (PPP) contract to develop the country's fifth WTE plant. This would be the first incineration plant in Singapore to employ technology from a local company. The PPP structure would allow the government to save on the capital outlay and capitalise on private sector expertise. Keppel Seghers would have to ensure that it would be able to provide sufficient incineration capacity. Bhattacharya supported the waste management strategy but knew the landfill had a limited lifespan. He hoped to study more innovative waste management solutions in the future.
Li Xia is the founder of Shenzhen Power Solution (SPS), a social enterprise established to aid people at the bottom of the pyramid (BOP). Her family's financial troubles during her childhood helped her understand the difficulties faced by the BOP consumers. She knew that BOP consumers did not have access to electricity, which restricted their ability to read and improve their standard of living. SPS provides consumers with products such as solar-powered lamps which replaced the more harmful candles and kerosene lamps. Li spent her time reducing costs and improving the quality of her products for BOP consumers, a segment that was underserved. After penetrating the African market, Li was keen on expanding the business, however, the pandemic struck adding unexpected challenges. Supply chain issues caused the business to slow dramatically. She now needs to raise working capital to keep the company running. This case may be used for graduate, postgraduate and executive education classes. By analysing the case, students should be able to gain an insider's perspective into the opportunities and constraints of impact-oriented enterprises, explore commercially viable business models for BOP customers and understand the different avenues for fundraising and the implications on growth and scaling.
The Singapore Tourism Board (STB) had been working on a new brand campaign to attract visitors to Singapore. However, instead of highlighting the country's attractions and listing the reasons why it would be a good destination, they wanted to roll out a different kind of campaign that would resonate with consumers. Working with the Economic Development Board (EDB), STB developed a country brand to deliver a more compelling message to tourists and investors alike. Drawing on Singapore's early history, STB focused on telling stories that showed how Singaporeans overcame adversity on their road to success. STB worked with many people and organisations before launching the campaign about people following their passions. After the launch of the 'Passion Made Possible' campaign, STB hoped for widespread adoption of the country brand and a useable framework for future campaigns.
Chonladet Khemarattana, CEO of Robowealth Group, an investment advisory company, wanted to disrupt the traditional investment advisory industry in Thailand by promoting greater financial inclusion. He founded a financial technology (FinTech) start-up, Robowealth, that could provide investment opportunities for every Thai citizen; it would help Thais achieve financial freedom. The traditional investment advisory industry helped high net worth individuals (HNWI) build their investment portfolios. This process required relationship managers to understand the investment goals, risk tolerance and time horizon of their clients before implementing an investment strategy. Robowealth used technology to build user-friendly digital platforms that used algorithms to drive investment decisions. It sought to capitalise on the digitisation trend to reach consumers through an easy-to-download app. Even low-income workers would be able to make small investments and benefit from diversification. Robowealth also developed a business-to-business (B2B) channel that allowed collaborations with other industry players in order to build a more efficient financial ecosystem for locals.
In 2020, amid the coronavirus pandemic, Chou Cheng Ngok, CEO of Popular Holdings Limited, a local multiproduct bookstore in Singapore, wanted to develop an omni-channel retail strategy to make up for the loss of foot traffic at the store. The book industry was already changing rapidly due to digitisation. Books became available on electronic readers and the advent of e-commerce gave online retailers a cost advantage over brick-and-mortar stores when it came to rental expenditure and sourcing from the cheapest distributors located anywhere in the world. While many local bookstores went out of business, Popular had managed to succeed by understanding the needs of its target audience. For instance, students and their parents would buy tuition materials to supplement the official curriculum in an effort to excel in Singapore's competitive education system. Popular also sold other ancillary products such as stationery and electronic gadgets. As brick-and-mortar stores continue to lose market share to online retailers, Chou wanted to implement an integrated omni-channel approach to provide a better experience for consumers.
In January 2019, Raymond Holmes, head of the Singapore Association of Chief Marketing Officers (CMO), an informal roundtable of CMOs from multinational corporations, went to explore Habitat, a hi-tech grocery store by Honestbee, a food and grocery delivery company. The advent of e-commerce allowed consumers to buy products online. Asset-light retailers had cost advantages over physical stores when it came to rental expenditure and inventory storage. Honestbee pioneered the food concierge service in Singapore, helping busy consumers fulfil and deliver online grocery orders from partners that had physical stores. Three years after its founding, the company added a physical storefront that aimed to be a lifestyle destination with a grocery store and other dining concepts. The futuristic store would also attract non-shoppers to the area. Holmes wondered if Honestbee's multichannel approach would provide a better experience for the consumers and enhance its profitability.
In January 2021, Kwek Hong Sin, a Singaporean, attended a crowdfunding roadshow. She had been captivated by Thailand's retail environment and founded the crowdfunding platform Sinwattana in 2012 to help Thai businesses, particularly SMEs, raise capital. SMEs constituted over 99% of all enterprises in Thailand, and many were unable to borrow from banks because of strict lending requirements. These businesses suffered from the lack of government support, limited marketing skills and inadequate skilled labour. However, Kwek felt that Thai businesses were worth investing in. Crowdfunding would allow them to issue debt or equity directly to individual investors, including those overseas. Sinwattana provides consultation services to help companies succeed, and also offers business insights to prospective investors. The Sinwattana platform allows these stakeholders to connect; it provides companies with much needed capital and investors with attractive returns they might not have access to elsewhere.
In August 2019, Oliver Jones, senior manager at the New South Wales Institute of Qualified Accountants, was following the case of the insolvency of Dick Smith Group. The company began when the founder started servicing radios and expanded to carry a wide range of electronics products. Over the years, the competitive consumer electronics industry saw Dick Smith undergo several strategic changes. The founder had sold the company to Woolworths before the supermarket retailer decided to exit the consumer electronics business. After private equity firm Anchorage turned the company around and sold it for a profit in 2014, Dick Smith again experienced financial troubles. Management had bought too much inventory, chose the wrong products to buy and ultimately assumed too much debt during its expansion phase. In 2016, Dick Smith went bankrupt. Subsequently, creditors began litigation against top Dick Smith executives for pursuing a "rebate maximising" strategy that prioritised rebates over customer demand. The auditor was also implicated. While Jones was unsure if the auditor was legally responsible for investor losses, he wondered how they had not found any risks worth flagging.
Case A is set in 2010. Shinji Tanaka is a senior economist at Kyoto Heritage Foundation, a Japanese think tank, and he wondered if Sharp's new manufacturing plant in Sakai could turn the company around. Sharp's vision and innovative culture led it to invest in LCD technology. It played an important role in consigning cathode ray tube technology to the past and eventually outlasted plasma as well. However, Sharp's fortunes started to take a hit as plant construction racked up large debts and profitability declined as the global economy shrank and LCD prices fell due to increased competition. The company responded by doubling down on LCD technology and built a larger and more expensive plant to build more technologically advanced LCD panels. Case B continues in 2016. Technological improvements continued to bring down the prices of LCD panels. Sharp had to be bailed out from its losses twice and was facing bankruptcy again. The company had to decide between two choices. One option was to merge with the Innovation Network Corporation of Japan (INCJ), a government-owned investment fund, to create a national champion. The second one involved doing a deal with Foxconn, a Taiwanese electronics giant that could realise synergies. Which option should Tanaka suggest Sharp to take?
Case A is set in 2010. Shinji Tanaka is a senior economist at Kyoto Heritage Foundation, a Japanese think tank, and he wondered if Sharp's new manufacturing plant in Sakai could turn the company around. Sharp's vision and innovative culture led it to invest in LCD technology. It played an important role in consigning cathode ray tube technology to the past and eventually outlasted plasma as well. However, Sharp's fortunes started to take a hit as plant construction racked up large debts and profitability declined as the global economy shrank and LCD prices fell due to increased competition. The company responded by doubling down on LCD technology and built a larger and more expensive plant to build more technologically advanced LCD panels. Case B continues in 2016. Technological improvements continued to bring down the prices of LCD panels. Sharp had to be bailed out from its losses twice and was facing bankruptcy again. The company had to decide between two choices. One option was to merge with the Innovation Network Corporation of Japan (INCJ), a government-owned investment fund, to create a national champion. The second one involved doing a deal with Foxconn, a Taiwanese electronics giant that could realise synergies. Which option should Tanaka suggest Sharp to take?
In November 2019, Tommy Leong, Zone President, East Asia & Japan (EAJ), of Schneider Electric, a French multinational corporation (MNC), hosted regional clients in the Singapore HQ building. He highlighted how the company would capitalise on digital transformation to help create a futuristic city. Despite the high operating costs, Singapore was an ideal location for a regional HQ because of its first-rate infrastructure, strategic location and business-friendly corporate ecosystem. Through the Economic Development Board, the government actively pitched to MNCs and provided concierge services when possible. Schneider Electric was the global leader in energy management and industrial automation with strong growth prospects due to increasing urbanisation and digitisation trends. Leong had identified ASEAN as the growth region for the company. How could he create customised solutions for the business requirements of clients?
Associate Professor Chng Wee Joo, Director of the National University Cancer Institute Singapore (NCIS), started to move the treatment of cancer patients out of the hospital to the community and patients' homes. This innovative business model was implemented to manage the lack of space in the hospital and to reduce costs for patients. Chng also believed that an environment of strong family and community support would strengthen the morale of patients and result in fewer hospital readmissions. While Singapore had a reliable and balanced healthcare system, it faced higher healthcare expenses due to prolonged life expectancies and an ageing population just like other industrialised countries. Sedentary lifestyles, traditional diet habits and an increasingly polluted environment had led to an increase in cancer cases and cancer becoming the leading cause of death. The rising demand for cancer treatment had pushed the existing infrastructure and resources in hospitals to its limits and the shortage of hospital beds had resulted in a strategy to keep patients "out of the hospital" as long as possible. Operating under the National University Health System (NUHS) healthcare cluster, NCIS was a specialty centre designed to gain synergy by addressing all aspects of care related to the disease. With the clustering of public healthcare services in Singapore in 2017, NCIS now had the opportunity to incorporate primary care and end of life considerations in the care journey of a cancer patient. With his specialty in myeloma, a type of blood cancer, Chng led his team to focus on shifting healthcare out of the hospital and into patients' communities and home and started experimenting to deliver treatment outside of the hospital. Chng succeeded in treating myeloma in the outpatient clinic and subsequently in the patient's home. After the initial success, his team began working on similar projects in other type of cancers.
Even as Parachute oil is the clear brand leader in the branded regular coconut oil market, having rapidly taken away share from the loose oil market, there is a threat emerging. The fastest growing segment in this category is the Value Added Hair Oil (VAHO) market which is further divided into four sub-segments - perfumed, cooling, Coconut Oil + and non-coconut oil. In each of these four categories, Marico's offerings are laggards. Not only are their shares a lot lower than the individual brand leaders in these four categories, some of these brands are actually directly comparing themselves (in television advertisements) to the flagship Parachute coconut oil brand. Shome thus has to balance maintenance of the leading position in the coconut oil market, to minimise cannibalisation in promoting the various VAHO offerings of Marico, and to gain on the leaders in these other categories. At Kobe, Leong and her team provided end-to-end influencer marketing services for clients including consultation on marketing strategies for realising brand objectives, assisting clients in identifying KPIs, execution and monitoring of campaigns, analysis of campaign results and providing recommendations. In addition, Kobe's AI driven influencer platform allowed clients to choose the most suitable influencers from a database of over 5000 influencers. Millennials in Singapore were social media savvy and often-brought products based on recommendations of influencers they trusted. Targeting this customer segment through social media was therefore a viable option. However, the Jia Jia campaign had a few limitations including a small budget and a short timeframe. Another constraint was that herbal tea was not popular with millennials.