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The case describes the family tensions and corporate crisis at City Developments Limited (CDL), a large and well-reputed Singaporean property firm that was the flagship company of a larger family-controlled business group. The gradual transition to the third-generation leader was marked by an aggressive growth strategy in China, which unravelled when the Chinese property sector experienced headwinds and CDL’s Chinese joint venture partner experienced liquidity problems. These events forced the family firm to write off US$1.32 billion in 2021, causing it to report its first loss in decades. Moreover, four board members resigned, with one citing “unresolved differences in opinion” as part of his rationale for his resignation. The combination of a corporate crisis and a family boardroom drama elicited questions as to what steps the company should take to recuperate from the adverse events and resume its internationalization strategy.

The case describes the family tensions and corporate crisis at City Developments Limited (CDL), a large and well-reputed Singaporean property firm that was the flagship company of a larger family-controlled business group. The gradual transition to the third-generation leader was marked by an aggressive growth strategy in China, which unravelled when the Chinese property sector experienced headwinds and CDL's Chinese joint venture partner experienced liquidity problems. These events forced the family firm to write off US$1.32 billion in 2021, causing it to report its first loss in decades. Moreover, four board members resigned, with one citing "unresolved differences in opinion" as part of his rationale for his resignation. The combination of a corporate crisis and a family boardroom drama elicited questions as to what steps the company should take to recuperate from the adverse events and resume its internationalization strategy.

In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold standard for facilitating innovative financial technology (fintech) solutions. NPCI was created as a not-for-profit “coopetitive” organization, initiated by India’s central bank, the Reserve Bank of India, but owned by a consortium of India’s leading banks and largely run independently. While NPCI’s success in devising an open innovation platform had led to a new competitive playing field, it had also raised the question of whether or not its original coopetitive organizational design was still suitable for sustaining the flow of fintech innovations.

In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold standard for facilitating innovative financial technology (fintech) solutions. NPCI was created as a not-for-profit "coopetitive" organization, initiated by India's central bank, the Reserve Bank of India, but owned by a consortium of India's leading banks and largely run independently. While NPCI's success in devising an open innovation platform had led to a new competitive playing field, it had also raised the question of whether or not its original coopetitive organizational design was still suitable for sustaining the flow of fintech innovations.

In 2020, the Indonesian bank PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) had to make a decision regarding a digital transformation strategy for its future. BTPN had started as a small bank that focused on pensioners, but became known for its innovation after a private equity partner bought a stake in 2008. Initially innovating successfully in microfinance, BTPN decided to go digital by creating an in-house start-up in 2015 called Jenius, thereby leapfrogging to become one of the forerunners in Indonesian digital consumer banking. The COVID-19 pandemic had accelerated digital financial services, and BTPN had to decide how to scale Jenius to transform the company. Was the in-house start-up model the best choice after all, or would the large incumbent banks digitalize faster?

In 2020, the Indonesian bank PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) had to make a decision regarding a digital transformation strategy for its future. BTPN had started as a small bank that focused on pensioners, but became known for its innovation after a private equity partner bought a stake in 2008. Initially innovating successfully in microfinance, BTPN decided to go digital by creating an in-house start-up in 2015 called Jenius, thereby leapfrogging to become one of the forerunners in Indonesian digital consumer banking. The COVID-19 pandemic had accelerated digital financial services, and BTPN had to decide how to scale Jenius to transform the company. Was the in-house start-up model the best choice after all, or would the large incumbent banks digitalize faster?

In late 2018, the chief executive officer and founder of Tunaiku, a new digital consumer-lending financial technology (fintech) company in Indonesia, faced a dilemma. Although he had set out in 2014 to revolutionize Indonesia's consumer lending by providing people in the underserved lower segment of society with small unsecured loans, he now faced his most crucial challenge—dealing with Indonesia’s changing regulatory environment. When he had launched the venture in 2014, fintech was unknown, and the founder had eventually decided to offer the product through a bank. But after Indonesia introduced a new fintech regulation, he needed to reconsider his earlier decision. Should Tunaiku move to a fintech licence or remain as a bank?

In late 2018, the chief executive officer and founder of Tunaiku, a new digital consumer-lending financial technology (fintech) company in Indonesia, faced a dilemma. Although he had set out in 2014 to revolutionize Indonesia's consumer lending by providing people in the underserved lower segment of society with small unsecured loans, he now faced his most crucial challenge-dealing with Indonesia's changing regulatory environment. When he had launched the venture in 2014, fintech was unknown, and the founder had eventually decided to offer the product through a bank. But after Indonesia introduced a new fintech regulation, he needed to reconsider his earlier decision. Should Tunaiku move to a fintech licence or remain as a bank?

Malaysian palm oil company IOI Corporation Berhad (IOI) developed from a plantation company in Malaysia to become a vertically integrated manufacturing company with a range of higher value manufacturing businesses across Asia, Europe, and the United States. The rapid expansion into what the chief executive officer (CEO) called a “mini-multinational” placed greater demands on IOI and its leadership. The CEO had struggled to simultaneously achieve growth, innovation, control, and coordination, and the company had experienced a sustainability crisis in 2016. In early 2017, the CEO needed to decide whether to approve an ambitious growth strategy—proposed by IOI’s specialty oils and fats team, which led most overseas operations and handled IOI’s most innovative products—to be achieved by 2025. While he was eager to expand IOI and strengthen its position as a widely admired Asian family multinational, he also needed to weigh the constraints. He could not risk growing the company faster than the leadership’s ability to control it.

Malaysian palm oil company IOI Corporation Berhad (IOI) developed from a plantation company in Malaysia to become a vertically integrated manufacturing company with a range of higher value manufacturing businesses across Asia, Europe, and the United States. The rapid expansion into what the chief executive officer (CEO) called a "mini-multinational" placed greater demands on IOI and its leadership. The CEO had struggled to simultaneously achieve growth, innovation, control, and coordination, and the company had experienced a sustainability crisis in 2016. In early 2017, the CEO needed to decide whether to approve an ambitious growth strategy-proposed by IOI's specialty oils and fats team, which led most overseas operations and handled IOI's most innovative products-to be achieved by 2025. While he was eager to expand IOI and strengthen its position as a widely admired Asian family multinational, he also needed to weigh the constraints. He could not risk growing the company faster than the leadership's ability to control it.

The founder of bKash Limited (bKash), a successful mobile financial services (MFS) model pioneered in Bangladesh, built the company from scratch, targeting services at the lower socioeconomic segment of society and eventually acquiring 26 million customers. bKash has had a positive impact on the lives of countless poor people and has gained worldwide recognition for its innovative business model. The model required close collaboration with telecommunications operators, banks, non-governmental organizations, and regulators. In particular, the Bangladesh central bank supported the venture, allowing experimentation in MFS to address poverty through financial inclusion. By the end of 2016, the founder was concerned about future regulations and looking to strengthen the foundation of his disruptive business to make it more robust. How could the company continue to grow while maintaining its financial inclusion objective?

<h4>bKash: Financial Technology Innovation for Emerging Markets Case Study Description:</h4><p>The founder of bKash Limited (bKash), a successful mobile financial services (MFS) model pioneered in Bangladesh, built the company from scratch, targeting services at the lower socioeconomic segment of society and eventually acquiring 26 million customers. bKash has had a positive impact on the lives of countless poor people and has gained worldwide recognition for its innovative business model. The model required close collaboration with telecommunications operators, banks, non-governmental organizations, and regulators. In particular, the Bangladesh central bank supported the venture, allowing experimentation in MFS to address poverty through financial inclusion. By the end of 2016, the founder was concerned about future regulations and looking to strengthen the foundation of his disruptive business to make it more robust. This bKash case study asks: How could the company continue to grow while maintaining its financial inclusion objective?</p>

In 2016, a personal threat was made against the managing director of Multistrada Agro International, an Indonesian industrial forestry firm. The permits for the firm’s new rubber plantation overlapped with an existing palm oil plantation and the activities of local villagers, and also drew concern from outsiders who claimed to have rights over the land or wished to protect the environment. In sum, the venture altered the delicate balance of conflicting local interests. The managing director knew that unless she managed to work with local stakeholders, she would never be able to successfully operate large-scale rubber plantations. How should she handle this latest threat? What tactics could she use to deal with a variety of stakeholders with divergent interests?

In 2016, a personal threat was made against the managing director of Multistrada Agro International, an Indonesian industrial forestry firm. The permits for the firm's new rubber plantation overlapped with an existing palm oil plantation and the activities of local villagers, and also drew concern from outsiders who claimed to have rights over the land or wished to protect the environment. In sum, the venture altered the delicate balance of conflicting local interests. The managing director knew that unless she managed to work with local stakeholders, she would never be able to successfully operate large-scale rubber plantations. How should she handle this latest threat? What tactics could she use to deal with a variety of stakeholders with divergent interests?

In 2016, the oldest member of the family business The Ong Group was concerned about the ailing firm that he and his siblings were running. The business had been started in 1957 in Hong Kong by their father. After the death of the father and one of the siblings, the remaining family members needed a plan for the future of the business. Should all of the remaining siblings and their children be allowed to become directors in the family firm? How could they create a workable governance structure that would help the family make the right decisions? How would they put the business back on track?

In 2016, the oldest member of the family business The Ong Group was concerned about the ailing firm that he and his siblings were running. The business had been started in 1957 in Hong Kong by their father. After the death of the father and one of the siblings, the remaining family members needed a plan for the future of the business. Should all of the remaining siblings and their children be allowed to become directors in the family firm? How could they create a workable governance structure that would help the family make the right decisions? How would they put the business back on track?

AWARD-WINNING CASE - 2015 AESE Case Writing Competition. The global convenience store brand 7-Eleven entered Indonesia in 2009, with local player PT Modern International as the master franchisor. To differentiate the stores from other convenience stores and to cater to emerging market customers in Indonesia, the CEO combined the idea of a restaurant and a convenience store in his new 7-Eleven outlets. The 7-Eleven stores provided an affordable and convenient location for youth to hang out and have a quick bite to eat. They also offered wireless Internet and a range of services and products like fresh food and beverages. The case requires students to outline the innovative elements that explain 7-Eleven’s success in Indonesia, reflect on its scalability and sustainability, and also to advise the CEO on further strategies to strengthen 7-Eleven in Indonesia.

The global convenience store brand 7-Eleven entered Indonesia in 2009, with local player PT Modern International as the master franchisor. To differentiate the stores from other convenience stores and to cater to emerging market customers in Indonesia, the CEO combined the idea of a restaurant and a convenience store in his new 7-Eleven outlets. The 7-Eleven stores provided an affordable and convenient location for youth to hang out and have a quick bite to eat. They also offered wireless Internet and a range of services and products like fresh food and beverages. The case requires students to outline the innovative elements that explain 7-Eleven's success in Indonesia, reflect on its scalability and sustainability, and also to advise the CEO on further strategies to strengthen 7-Eleven in Indonesia.

Sheng Siong was the third-largest supermarket chain in Singapore. Its chief executive officer co-founded it with his two brothers in 1985. Sheng Siong’s business model was well suited to cater to the price-sensitive and more traditional customer segment in Singapore, with a dominant presence in suburban areas called “heartlands.” It also had a unique corporate philosophy, which was influenced by the personal values of its founding family. However, the market became increasingly saturated, competitors were aggressive and costs were rising. The key question was whether Sheng Siong’s original competitive advantage was sustainable and how it could grow.

Sheng Siong was the third-largest supermarket chain in Singapore. Its chief executive officer co-founded it with his two brothers in 1985. Sheng Siong's business model was well suited to cater to the price-sensitive and more traditional customer segment in Singapore, with a dominant presence in suburban areas called "heartlands." It also had a unique corporate philosophy, which was influenced by the personal values of its founding family. However, the market became increasingly saturated, competitors were aggressive and costs were rising. The key question was whether Sheng Siong's original competitive advantage was sustainable and how it could grow.