This chapter provides a road map for how instructors can teach most effectively using the case method. It describes the history of the case method and the reasons to use it. It provides an overview of what instructors can do before, during and after teaching to maximize student learning, as well as a brief for students on how to prepare and participate to maximize their learning.
This case descibes the journey of a social entrepreneur as she establishes a new venture in the garment manufacturing business. It explores how she chose to become an entrepreneur, how she utilized her ecosystem to establish her venture and the choices and challenges she faced creating and financing a new venture. At the end she is faced with strategic decisions about how to grow the venture and its impact. This case provides an excellent illustration of the challenges faced by early stage entrepreneurs, as well as the value of using a hypothesis driven approach to evolving a new venture.
The case describes a difficult choice faced by Victor Wang, Managing Director of Singapore-based Eurasian Brewing Company (EBC), concerning the competing product launch plans of Le Jie, Vice President of EBC's China and East Asian operations, and Vivian Chin, EBC's Director of Marketing and Export Sales. Wang's decision will shape not only the company's future strategy but also the organization model and management approach EBC takes in its fast-growing business. The narrative focuses on the role of Le Jie in growing the sales and profitability of EBC's beer business in China and subsequently in its East Asian operations. Tension arises when Le announces his plan to introduce a new product into the fast-growing craft-beer segment in China. Simultaneously, Vivian Chin initiated a rollout of a small-batch craft-type beer that she felt had strong regional and perhaps even global potential. The two executives have escalated their conflict to Wang. His decision will not only shape EBC's product market strategy but will also exert a strong organizational influence on the division of responsibilities between headquarters and subsidiary management. In addition, it will likely send a signal about the risks and rewards of local entrepreneurial initiative. The case can be taught in courses in strategy, general management, international business management, global marketing, organizational behavior, and entrepreneurship at both the MBA and executive education levels. Its action-oriented decision focus suggests using it in the later stages of a course.
The Relax case traces the history of a massage services company from its founding in 2007 to mid-2017, when it is considering the best strategy for growth and an acquisition. The company's owner and top managers wonder how the firm should reorganize to cope with the challenges posed by the company's transformation from a small, independent operation to a professionally managed enterprise. This case illustrates the challenges of preparing for rapid growth. It covers issues of internal management and organization, as well as brand management decisions. Relax can be used in an entrepreneurial management or small business course. Because of the emphasis the company places on its brand, it may also be applicable for some marketing or brand management classes.
Having an idea is just the first step in an entrepreneurial journey. Turning that idea into a compelling opportunity requires analytical capabilities, passion, and determination. Successful entrepreneurs know how to take their ideas and shape them into opportunities to create value for all stakeholders. Beginning with the stories of 3 entrepreneurial journeys, this Reading examines that process of identifying and shaping opportunities. Opportunity recognition and shaping comprise 3 distinct activities: (1) perceiving an unmet market need, or a capability that could meet a need that has yet to be identified; (2) discovering the fit between market needs and the capabilities and resources available to the entrepreneur; and (3) creating a product, service, or solution that can be delivered to a specific market to address a specific need while generating value for all stakeholders. The novelty of an entrepreneurial opportunity--whether in market need or in skills needed to execute--influences the level of uncertainty in the assumptions that the entrepreneur must make in shaping the opportunity, which, in turn, influences the level of risk. After sharing the journeys of 3 entrepreneurs, this Reading explores how entrepreneurs identify opportunities and ends by discussing how they shape them by crafting business models and identifying risks and uncertainty. Although entrepreneurial ventures are usually formed in an iterative rather than a sequential manner, and founders are engaged in multiple parts of the new-venture-formation process simultaneously, this Reading lays out sequential steps for simplicity.
Success in launching a new business depends on an entrepreneur's ability to clearly communicate the market opportunity, outline the proposed solution, describe the implementation plan and expected benefits for all stakeholders, and account for the risks involved. A crisp, well-articulated business plan and pitch are therefore two of the most critical components in building a successful venture. Developing Business Plans and Pitching Opportunities explains how to both evaluate opportunities and translate a business model into a compelling business plan and pitch. The Reading introduces the concept of entrepreneurial planning and relevant debates about its role in early-stage ventures. It also covers the importance of crafting a succinct, powerful pitch for a new business plan, how to practice and present that pitch, and how to craft it so that it effectively conveys the opportunity to different stakeholders in different situations.
Among the many challenges that entrepreneurs must face is assembling the resources necessary to build a successful business. Most entrepreneurs will go through an iterative process of building a team, raising capital, and developing an ecosystem. An entrepreneur's decisions are highly interdependent--for example, the ability to attract customers, partners, and team members may depend on the ability to attract financing, which depends on ecosystem connections and a high-quality team. This Reading addresses 2 of the 3 kinds of resources critical to early-stage ventures: people (attracting cofounders, key employees, and advisors) and a business network (building the ecosystem of customers, suppliers, partners, and evangelists needed to develop products and get them to market). The third resource category, the capital required to finance the launch of the venture, is discussed in detail in Entrepreneurship Reading: Financing New Ventures [HBP No. 8072]. Attracting Talent and Building Ecosystems first explores the talent a new venture needs, including cofounders, key employees, advisors, and board members. The Reading then discusses how entrepreneurs can assemble the ecosystem of customers, partners, and other stakeholders who help develop and launch entry products and services, attract early customers, and gain traction in the market. Finally, the entrepreneurial story of Dan Bricklin, the inventor of the electronic spreadsheet, serves as an example of the process. There is also a glossary of key terms, as well as suggestions for complimentary cases and further reading.
Reed Supermarkets is a high-end supermarket chain with operations in several Midwestern states. Meredith Collins, vice president of marketing, visits stores located in Columbus, Ohio, an important region with the largest market and the greatest impact on revenue growth. She is concerned about increased competition from dollar stores and limited-assortment stores offering very low, appealing price points. Reed's market research shows that as a result of the economic downturn, customer loyalty is dwindling and consumers are willing to go to multiple stores to get the best deals. Collins must decide whether to change the current marketing and positioning plan in an effort to increase market share to meet challenging corporate targets. Her options include retreating from price competition and focusing on quality or embracing more private-label brands and competing more aggressively on price. She can also maintain the current positioning and appeal to customers looking for a quality shopping experience. The case contains an implicit quantitative assignment that instructors can emphasize to the degree they choose.
The case, set within the European organization of a giant multinational breakfast foods company, describes a launch decision for a new cereal product. As the case evolves, the decision has major strategic and organizational implications for Lora Brill, European VP. The case focuses especially on two important decisions facing Brill: Should Healthy Berry Crunch become the company's first Eurobrand and be introduced in a coordinated manner Europewide? And, from an organizational perspective, should she create Eurobrand Teams to implement her proposed Eurobrand concept?