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China's three National Oil Companies (NOCs) collectively represent a potent force in the world of oil and gas. While they have been mostly focused on domestic priorities since their founding, they started a methodical program of globalization at the behest of the Chinese government in the mid 1990's. By 2016, they had completed a string of overseas acquisitions and seemed poised to gain enough strength to become contenders in the competitive battles against the more established International oil Companies (IOCs). The government had announced its intent to reform the NOCs in order to make them more efficient such that they would be able to compete against the best globally. The idea was to create a Chinese ExxonMobil out of the three NOCs. However, the road ahead appeared rocky. There were three main issues that posed formidable obstacles. First, the governance structure and state control had bred a culture that did not seem ready for transformative change. Political interference and lack of a clear strategic direction were just two of the outcomes associated with the resistive culture. These shortcomings manifested themselves in the second major obstacle namely the instinct to protect resources although the NOCs themselves did not seem to have the technology to monetize the reserves. The slow development of shale was a case in point. Despite controlling the world's largest reserves of shale, China had not been able to come anywhere close to replicating the runaway success that the US had demonstrated. The government had not articulated a clear shale development strategy, and had been dragging its feet with respect to trying imported technology and allowing foreign companies to operate leases. Lastly, there were clouds on the horizon with respect to global expansion as well. The decline in energy prices and a slowing down of domestic economic growth in China had stifled the global march of the NOCs.

The case study on Rosneft was written to focus on two central themes, (1) the impact of state ownership on the governance and functioning of large corporations in emerging markets, and (2) the growth of State Owned Multinational Corporations (SOMNCs) in the oil and gas industry. The study offers rich insights into the chaotic founding of Rosneft reflecting events that have a lot of parallels in other emerging markets that have been through transformative economic reforms. It chronicles the actions of two powerful leaders who have shaped the destiny of the company from a grab bag of odds and ends to a modern corporation that has become a global powerhouse in the oil and gas industry. In doing so, the case offers several important lessons both in leadership and strategy especially as it applies to mixed ownership companies in settings where the government plays an instrumental role in directing the destiny of corporations.

George Mitchell founded Mitchell Energy to prospect for gas in resource rich Texas. The company was imbued with a counter-intuitive, "can-do" culture right from its start as a scrappy independent player among the more formidable majors, many of whom had a large presence in the region. However, unlike the established rivals who were primarily competing to prospect and produce oil reserves, Mitchell focused on natural gas. The natural gas business was not a hospitable environment especially in the 1970's when Mitchell Energy was getting fully entrenched in the business. George Mitchell brought a new perspective to the gas business by implementing a blue ocean approach. Creating a culture of innovation that encouraged his crew to question received wisdom, fostering an environment helped his staff take well measured and well managed risks, he was able to oversee the advent of the shale gas revolution the United States. The case offers several important lessons on implementing blue ocean thinking in practice that can be used across industry settings.

This case study presents the dilemmas faced by Pioneer Energy in Turkmenistan. The company has to find closure on a variety of issues ranging from procurement of steel casings to complete test wells in the Turkmen region, to implementing a new performance evaluation system mandated by Pioneer's headquarters in Dallas, localization of the workforce, and challenging cross-cultural matters associated with an upcoming trip by Turkmenistan officials to the U.S. offices of Pioneer.

This case study presents the dilemmas faced by the Country Manager of Pioneer Energy in Turkmenistan. He has to find closure on a variety of issues ranging from procurement of steel casings to complete test wells in the Turkmen region, to implementing a new performance evaluation system mandated by Pioneer's headquarters in Dallas, localization of the workforce, and challenging cross-cultural matters associated with an upcoming trip by Turkmenistan officials to the US offices of Pioneer

In 2012, Gazprom was widely believed to be on the verge of a steep decline. It had witnessed meteoric growth from its early days as an experiment in privatization of oil and gas following the rapid break-up of the Soviet Union. The case documents the growth strategies that the company has followed, i its global aspirations, and the impact of its political lineage, and discusses how the winds of change heralded the decline of the company. It discusses in detail the role of government policies toward national companies, the influence of politics and power, as well as the management of state-owned entities in emerging markets. The case offers a rich mix of insights into the contextual forces at work in shaping the destiny of Gazprom, the political pressures it faces as Russia's largest company and its stutter-step approach to globalization. The material in the case allows for a comprehensive analysis and discussion on central themes such as the origin of competitive advantage for NOCs (National Oil Companies), the unique governance conflicts that they have to navigate in setting strategic direction, and the viability of their globalization strategies.

Reliance Industries had evolved into a major player in the Asia Pacific region, and had begun to make its presence felt in the global petrochemicals and refining business segments. It had also made forays into exploration and production for oil and gas in multiple regions worldwide. This case study addresses the evolution of the company from a family-owned small-scale textile manufacturer to a global powerhouse within a few decades. It provides insights into how the company was able to trade on its competitive advantages at home in building a global strategy. Within the entrepreneurship and family business realm, the case allows for a rich thematic discussion around understanding the role of entrepreneurial leaders, the pros and cons of family control in large corporations, and impact on minority shareholders. From a global strategy perspective, the case provides a rich description of the nuances of building competitive advantage in emerging market contexts, the benefits of late movers in the race to globalize, and the unique modes of competition adopted by companies from newly industrializing countries. Since it is set in India, the case offers a comprehensive look at ground realities in that country, covering topics ranging from capital market conditions, governmental control and regulation as barriers to growth, and the role of external relationships management as a key competitive weapon in driving sustainable advantage

Reliance Industries had evolved into a major player in the Asia Pacific region and had begun to make its presence felt in the global petrochemicals and refining business segments. It had also made forays into exploration and production for oil and gas in multiple regions worldwide. This case study addresses the evolution of the company from a fairly small-scale textile manufacturer to a global powerhouse. It provides insights into how the company was able to trade on its competitive advantages at home in building a global strategy. The case allows for a rich thematic discussion around understanding the modes of competition adopted by companies from newly industrializing contexts.

The case discusses the story of Nissan's miraculous turnaround after Renault decided to invest in the company. The automobile industry had just begun another wave of consolidation, and many industry leaders believed that size was crucial for survival. This conclusion led to several mergers and acquisitions that produced varying results. The deal concluded between Renault and Nissan was remarkable because it was not billed or designed as an acquisition or even a joint venture. It was structured as an alliance, emphasizing the fact that both companies would have their own separate identities in the marketplace and separate executive committees that would run their strategy. However, the benefits were expected to originate in cross-company synergies, ranging from design to manufacturing and logistics to R&D. The case offers a rich description of the critical competitive elements that characterized the industry at the time the deal was signed. It also provides a good background on the strengths and weaknesses associated with each of the two companies before getting into the details associated with creating the turnaround plan and its implementation. The study paints a very good picture of the internal challenges that Carlos Ghosn, the incoming leader from Renault, faced in implementing the significant changes that were called for. It particularly emphasizes people-related issues such as performance management, creating change in a tradition-bound culture, the weight of administrative heritage and its impact on performance management, and other related issues. Given the global nature of the setting, the cross-cultural angles provide additional insights into the challenges leaders face when given a mandate for change. The case ends with a description of Renault and Nissan, both of which reported poor performance in late 2007. Ghosn had been at the helm of both firms for some time already, and was finding it difficult to sustain the momentum behind the change.

In 2009, Gazprom was widely believed to be among the most influential companies in the global oil and gas business. It had grown from its early days as an experiment in privatization of oil and gas following the rapid breakup of the Soviet Union. The case documents the growth strategies that the company has followed, its global aspirations, and the impact of its political lineage. The case offers a rich mix of insights into the contextual forces at work in shaping the destiny of Gazprom, the political pressures it faces as Russia's largest company, and its stutter-step approach to globalization. The material in the case allows for a comprehensive analysis and discussion on central themes such as the origin of competitive advantage for NOCs (National Oil Companies), the unique governance conflicts that they have to navigate in setting strategic direction, and the viability of their globalization strategies.

The case discusses two important themes within the context of the oil and gas industry. First, it sheds light on the context of the oil and gas industry in India, the prospects and potential pitfalls, and paints a broad-brush picture of the key players currently operating in the market. Second, it discusses the theme of transformation of India's largest national oil company (NOC), the Oil and Natural Gas Corporation (ONGC). While the industry structure discussion dwells on the business performance drivers in the exploration and production segment, as well as the refining and marketing segment, the transformation discussion focuses largely on the challenges facing leaders who are attempting to infuse state-owned companies with market discipline.

The case discusses two important themes of contemporary interest in global strategy and international business; (1) the impact of location-specific advantage and the role of government policy in helping firms compete, and (2) leveraging home-grown competitive advantages in evolving into full-fledged MNEs (Multinational Enterprises). Emerging market multinationals have become a compelling force to contend with in the global economy, and this case illustrates the unique advantages that these firms bring. The case focuses on the specific issues relating to Korea and LG Electronics, one of the leading consumer electronics manufacturers in the world. It follows the fortunes of LG Electronics, a company that started as a contract manufacturer supplying OEM contracts to a variety of Japanese and U.S. appliance makers. It entered the U.S. market under its Goldstar label fairly early, and quickly realized that it needed to hone important skills of product differentiation, brand positioning, design, and innovation in order to succeed. Given the huge obstacle that this steep learning curve represented, LGE turned to emerging markets as a means of building credibility outside Korea. It charted a systematic strategy that encompassed a range of elements such as locally adapted designs, localized manufacturing, rural distribution, and cultural marketing that resonated very well with emerging market consumers. It had soon built a formidable position across all the BRIC countries (Brazil, Russia, India, and China). Turning its sights once again to the developed countries, it contemplated how it could take some of the lessons it had learned in the developing world to kickstart its developed country strategy into high gear. The case describes the challenges facing companies seeking to enter emerging markets and the important credentials that they can build in the process of understanding these settings

By 2004, Singapore International Airlines (SIA) enjoyed a run of exemplary profitability and service performance. It had built its strategy around the principles of a differentiated positioning using its brand image, geographic location, and outstanding service as the cornerstones of its strategy. The case offers enough data to launch into a rich discussion of the industry factors that drive profitability, and complements it with an in-depth look at the model of strategy that SIA had built in order to compete in the airline business. In recent years, there have been many environmental shocks, such as SARS, that have challenged the continued viability of the model. The company entered into an equity alliance with Virgin that has destroyed significant value. It found itself challenged by the entry of many low-cost airlines in its home market. The case closes with a decision that SIA needed to make about how it would address the onset of low-cost competitors, and whether it would make sense to move away from its differentiated premium approach.

The case explores the fundamental features of the business model that Wal-Mart has been adopting, both in the U.S. and abroad. It places particular emphasis on the company's supplier management approaches, supplier strategies in doing business with Wal-Mart, and the company's track record in international operations. It offers insights into the ways in which Wal-Mart's suppliers can design their own strategies to ensure continued viability amidst significant pricing pressure from the retail giant. It closes with important questions about the continued success of the company in the face of allegations of labor violations, increasing competition in foreign markets, and the likelihood of a supplier push-back against Wal-Mart's continued pressure to bring down their prices.

The case focuses on a joint venture between Honda Motor Company (HMC) of Japan and the Hero Group, a conglomerate of Indian companies held by the Munjal family. Hero is the largest manufacturer of bicycles in the world, and at that time had already dabbled in the motorized two-wheeler market with its mopeds. HMC entered into a 50/50 alliance with Hero to manufacture motorcycles for the Indian market. It assumed product design and technology transfer responsibilities while Hero was in charge of manufacturing and marketing. The venture performed very well until the contract renewal period, when Hero felt that HMC was slowing down its technology transfers. The agreement was extended for another ten years after protracted negotiations. Just as the relationship appeared to get better, HMC announced the setting up of a subsidiary in India to manufacture scooters. It said that the subsidiary would enter the motorcycle market in 2004. This grew from a split between Honda and its Indian partner in a venture that was manufacturing scooters. Having exited the venture, HMC wanted to go it alone. This caused serious concerns for Hero, since HMC's entry into the motorcycle market would threaten its very survival. The case closes with a set of issues that face Hero and sets the stage for exploring alternative paths that Hero could take in managing it future. .

The case discusses the key elements of corporate and business strategy employed by LVMH. It first develops the context of the luxury business, providing an in-depth look at the performance drivers, key players and their strategies. Set in the landscape, it then examines the specific strategies adopted by the biggest player-LVMH. The company wants to double its current sales ($10 billion in an $80 billion industry) and profits by 2005. In marching towards this goal, LVMH has entered into multiple business lines ranging from leather goods to wines, and spirits to art auctions. Many of these acquisitions have come at steep premiums and none have turned a profit yet. Investors and analysts feel that the company should divest some of its holdings and get back to its roots in leather goods and wines. Mr. Arnault, the CEO of the company, however, feels that there are significant synergies that emerge when operating a portfolio of global brands across the entire landscape of luxury businesses. This sets the stage for a good evaluation of its value chain and value-adding activities, the promised synergies and their potential impact on revenues and profits. It also raises questions on how LVMH can grow in this business, which geographic regions it should invest in, and which product-market it should retain.

The case discusses the international expansion efforts of the global coffee retailer, Starbucks. Starbucks had proliferated in several regions of the world, many of which had historical ties to a coffee heritage such as Western Europe. It had also challenged traditionally tea drinking countries such as Japan and China. In implementing its globalization strategy, the company relies on a set of sound principles that call for astute partner selection, real estate management, and managing the brands. While the company had witnessed critical success in most of its major markets overseas, it appeared to be facing significant challenges in every region. For example, in Japan, revenues had declined and so too profitability. New copycat competitors had emerged and many had started questioning the validity of Starbucks' market saturation strategies. In emerging countries, such as Mexico, China and India the company saw very good potential but this rosy picture was somewhat dampened by the ability of the consumer to pay close to $3 for a cup of coffee when local versions retailed at $0.50. The case with several questions related to the future of Starbucks in the global arena: whether it should alter its new store growth strategy, whether it should rethink its uniform pricing policy in emerging markets where affordability was of paramount importance, and where the next major thrust ought to be.

The case focuses on Starbucks Coffee (NSE: SBUX) in the early spring of 2003. The company has demonstrated rapid growth for over a decade, and is continuing to grow profitably through the current recessionary environment. The case details the history and development of the company, highlighting the evolution of the corporate concept of a "third place," and the key individuals in the organization in this development. The second part of the case details the international expansion activities of the firm, highlighting the potential cultural and economic challenges which it may increasingly face as it expands to more traditional coffee-drinking markets, and low-income emerging markets. The third and final section of the case details the increasing pressure placed on Starbucks by the anti-globalization movement. Although Starbucks has actively pursued a number of socially- responsible operating policies, such as the purchase of Fair-Trade coffee, the subsidization of health care facilities in Central America, and the introduction of a number of socially responsible coffee products in its stores, it continues to be the target of anti-globalization activities. The case concludes with the question as to whether the company will be able to continue to grow as rapidly and profitably as the recent past as it reaches saturation point in the domestic market.

LVMH Moet Hennessey Louis Vuitton (France) acquired a large interest in the Gucci Group (Italy and Netherlands) in January 1990. Gucci accused LVMH of undertaking a "creeping acquisition" and refused to cooperate in LVMH's efforts to gain representation in Gucci's management. The case details the actions of the purported takeover attempt, and the defense mechanisms employed by Gucci. The defenses employed included the use of a poison pill and a white knight. Ultimately, Gucci found a white knight, Pinault-Printemps-Redoute (PPR) of France to save it from LVMH's unwanted advances. The primary question, which the case addresses, is whether the actions taken by Gucci's management in defending its independence were actually in the best interests of shareholders.

Singapore Airlines has built a storied reputation for excellence in customer service, attention to detail and a progressive stance in designing strategy. It has established a well-orchestrated system that nurtures significant sources of competitive advantage that are used to support a strategy of differentiation. At the time of the case some of that luster might be fading with the advent of copycat competitors and intensifying pressures to compete on the basis of cost. The increasing incidence of alliances in the aviation industry is also raising new questions for Singapore Airlines. The case focuses on the multi-pronged efforts at SIA to build competitive advantage. It closes with a set of issues revolving around an impending alliance with Virgin Atlantic Airways.