This case, a follow-up to "Quarterly Earnings Report at T-Rex (A)" (UVA-BC-0304), continues the story of fictional company T-Rex Inc., an engineering equipment manufacturer, and its CEO, Maya Hoffman, as the company prepares for the Q2 2024 earnings call. On July 18, 2024, prior to the market opening, T-Rex released its quarterly earnings. Thirty minutes later, at 8:00 a.m., T-Rex's stock was down almost $2 in pre-market trading. Hoffman, the CFO, and the head of investor relations need to manage the earnings call.
This quarterly earnings case set is based on a fictional company, T-Rex Inc., an engineering equipment manufacturer that named its first construction machine the T-Rex because its shape was comparable to that of the prehistoric dinosaur. The once-small family company went public in 2010, growing to over 6,000 employees in three offices by 2024. Customers were typically heavy civil construction companies based in the 20 largest cities in the United States. Beginning in 2023, the company had set a strategic objective to sell machines to construction companies in Mexico and Canada. Maya Hoffman, a member of the family that had started T-Rex, had been CEO since 2005. The case is set as the company prepares for the Q2 2024 earnings call. During the first two quarters of 2024, the company had performed well. But there always seemed to be some cause for concern or stress in the run-up to the earnings report. This two-case set creates two potential activities for students: a role-play and a presentation. Depending on the focus of the course in which the set is used, instructors can choose which avenue to follow.
This note provides an overview of the regulatory documents the Securities and Exchange Commission (SEC) requires of public companies in the United States. Specifically, an S-1 filing is required by any security that meets SEC criteria before shares can be listed on a national exchange, and thereafter, the SEC requires Form 10-Q or 10-K quarterly. The note provides details about these three primary communication disclosures, plus links to other resources where students can learn more. It is meant to be a quick reference guide for business or commerce students.
The case protagonist is preparing for her final interview to be spokesperson for the Institute Office of Communications at the Massachusetts Institute of Technology (MIT). The case is set during a time in which many university presidents are in the spotlight of the debate of freedom of speech on campuses, which includes student and donor debate about the war between Israel and Hamas that started in October 2023. On the morning of January 3, 2024, a news article specifically mentioned MIT's president being under scrutiny. The case requires students to consider the financial models of US institutions of higher education, the role of a university president, and crisis communications. Instructors can use this case in multiple ways, but a clear focus is the communications strategy for MIT. When the university needed to send a message to its community, the case protagonist would be instrumental in deciding who should deliver the message, what the message would be, and which channel(s) MIT would use.
This case covers strategic financial planning at the Boys & Girls Clubs of Central Virginia (BGCCVA), a nonprofit youth-serving organization with an annual expense budget of $6.7 million. In preparation for the next fiscal year, the CEO and CFO were compiling data and talking points for the May 2023 board meeting. BGCCVA was a high-performing, complex nonprofit with multiple locations serving more than 1,000 kids annually, and was often recognized as a standout by Boys & Girls Clubs of America (BGCA). The case explores two strategic challenges with financial implications: a new building and a staff development initiative, in addition to a recent leadership change. This case is inherently about managing competing strategic priorities, and gives instructors the option to explore everything from leadership transitions to annual budgeting. An obvious way to focus the discussion is through financial storytelling: first, understanding what the numbers mean, then second, evaluating the best way to communicate. There are opportunities to compare for-profit and nonprofit organizations as well. The teaching note includes an optional individual or team class exercise. This case is appropriate for full-time MBA, part-time MBA, and Executive MBA students, and can be taught in person or virtually.
The case revolves around an entrepreneur, Maggie Fleur, who manages several businesses on her family's farm and who is considering a complementary new business in the burgeoning industry of human composting. The case includes background on the death-care market in the United States in addition to how human composting (which was legal in five US states as of spring 2023) works. It explores the industry leader, private company Recompose, providing details about company history, fundraising, and basic financials.
This case is set in 2022, a year after Mary Barra, chair and CEO of General Motors (GM), set a goal to phase out production of gas-powered (internal combustion engine [ICE]) vehicles and only sell electric vehicles (EVs) by 2035. At the time of the announcement, no other large automaker had set a target date for exclusively producing EVs. GM said it would invest $35 billion over the next five years to build its EV production capabilities and capacity, including the manufacture of batteries. As one management scholar stated, ""There is a huge disruption coming."" The protagonist is a prospective employee who would lead investor relations for GM, and who is interested in learning about the company's objectives, potential pitfalls, and greatest strengths. She will need to evaluate how to communicate the EV transition to stakeholders, and the GM employees are one specific audience. The case introduces opportunities to discuss labor unions, a powerful force in the US automobile industry. A variety of financial tables and graphs in the case exhibits enable instructors to focus on topics they feel are most appropriate for their individual courses.
This case examines Rent the Runway (RTR), a company that provided its customers the luxury of getting to wear the hottest designer fashions without having to pay the often exorbitant price to own the clothing. RTR built the world's largest shared designer closet, containing over 18,000 styles by more than 750 designer brands. Customers could rent individual pieces, buy products through resale offerings, or pay for a subscription guaranteeing new deliveries monthly. RTR went public with an initial public offering (IPO) on October 26, 2021. While some investors were initially excited about the first company with an all-female board and all-female leadership team to go public, RTR's unicorn status was not enough to guarantee success. RTR had decided to go public to fuel its expansion plan as well as pay off debt, but things didn't go smoothly after the IPO, and the company suffered from bad press related to its unexplained financial reporting. The case, appropriate for finance, leadership communication, and general management courses, encourages students to consider communication strategies employed by firms going public and digs into several specific issues such as depreciation of assets. Though the case focuses on the struggles of the company focused on a public offering to generate capital, it also provides a variety of other discussion topics such as the purpose of an IPO, the right time for a company to go public, and how to tackle the scrutiny of investors in a newly public company. It pairs well with a technical note, ""All Things IPO"" (UVA-BC-0282), which unpacks the process of an IPO, including the internal and external factors companies need to weigh before taking the step.
The decision to go public is a very complex process for a growing business. From completing the requirements of the US Securities and Exchange Commission (SEC) filings to answering complicated questions from potential investors, it is a major decision and an inflection point in the journey of a private company. Yet, the benefits often outweigh these downsides and cofounders are usually excited by the prospect of an initial public offering (IPO). This technical note aims to unpack the process of IPO, including the internal and external factors companies need to judge when considering taking the step.
In the summer of 2021, an Exxon Mobil Corporation (ExxonMobil) executive was secretly recorded dismissing climate science that his company had publicly supported. ExxonMobil is a vertically integrated business with decades of financial performance to consider. Recent activity at the organization-including activist investor action to change the board of directors' composition-coupled with years of confusion over climate science creates a complex situation with multiple stakeholders. By comparing ExxonMobil's performance to Apple Inc. (Apple) and other technology companies, it provides context for the moment of the crisis and asks readers to consider how to manage the communication complication. Students are challenged to consider nuance in their arguments and balance short-term shareholder returns with longer-term organizational pursuits.
Alyssa Harris was the CEO of TechTeen, a Washington, DC, nonprofit. Like many organizations during summer 2020, TechTeen issued a statement supporting the Black Lives Matter movement. A valuable board member expressed concern, threatening to resign over the statement, which escalated discussions among staff and volunteers. The case considers how Harris should manage and respond to these issues. Harris must consider each of her stakeholders, how they might be affected, what to communicate, and how to communicate. This case enables discussion of values in addition to managing public opinion. The teaching note for this case guides the instructor to: (1) map the issues, stakeholders, and potential actions relevant to the case; and (2) critically assess the multiple aspects of the case that apply in business settings.
Through most of 2020, the United States was battling the same demon as the rest of the world: the COVID-19 pandemic. During the pandemic, a large number of people worldwide spent more time at home, so they noticed repairs that needed to be made and used the increased time spent in their living quarters to paint rooms, garden, build, and complete projects. Many people turned to The Home Depot for the materials and tools to achieve these goals. To address the needs of its workforce, The Home Depot invested in its employees by offering additional compensation, changing employee benefits, and creating a safe environment. As the pandemic continued, the executive team knew that safety measures would be essential to the organization's ongoing success. The Home Depot needed to protect its associates and the public. But the company's biggest selling season loomed. Spring was the kickoff for the many home-improvement projects and jobs across the United States. Leadership had to consider the need to manage increased customer traffic and sales without aiding in the spread of the coronavirus.
Peloton had redefined many things about the boutique exercise experience, bringing it into members' homes and eliminating per-class fees of roughly $34, instead charging $40 per month. Rather than chatting with a pal beside the gym locker for a few moments before class, customers had Peloton's online community of hundreds of thousands of people who interacted with one another digitally throughout the day. The instructors themselves were part of Peloton's cult following. They were expected to lead and inspire, not just teach a class, and each had a large social media following and minor celebrity status. The company was poised for an IPO in 2019 by identifying a new opportunity in a constantly evolving fitness space, by defining its business broadly, and by capitalizing upon the energy of celebrity and personality that online communities could bring to a brand. But how could a business built on a social community pivot to a position in the public marketplace?
This case, "vineyard vines and The Brotherhood of the Traveling Pants," introduces students to a unique partnership in the social media advertising world. Preppy clothing powerhouse vineyard vines had a history of interacting with its customers by featuring user-generated content in its catalogs and on its website and decided to continue this tradition on social media by partnering with a group of fans called The Brotherhood of the Traveling Pants. This successful and authentic social media marketing campaign resulted in increased sales for vineyard vines and influencer status for the members of The Brotherhood. At the end of the campaign, the vineyard vines marketing team is left debating how to grow its social media presence through partnerships. The case has been used as part of a social media marketing course and would be effective in any undergraduate- or graduate-level marketing course.
This technical note describes the history and benefits of social media marketing and discusses the ways in which it differs from traditional marketing. Seven major social media platforms-Facebook, Instagram, Twitter, YouTube, Pinterest, Snapchat, and WhatsApp-are covered in detail, and the authors outline the different techniques that companies can use with each one to uniquely engage with their customers. This technical note is used in a Darden course elective covering social media marketing and would be an appropriate addition to any marketing class, particularly in a module focused on social media marketing.
The case is set in summer 2016, centered on the writer and performing star, Lin-Manuel Miranda, whose Broadway show Hamilton had grossed almost $75 million and won 11 Tony Awards. The musical's cultural influence was buoyed by Miranda's 578,000 Twitter followers. Hundreds of celebrities from Oprah Winfrey to Jennifer Lopez had become ambassadors for the musical; and its impromptu #Ham4Ham live performances were engaging thousands of people on social media with each release. The case explores specific tactics the show employed, challenges students to consider the importance of personality in creating social media buzz, and studies the practical influence social media may have had on the show's success. It is appropriate for any marketing course, particularly a digital media class in which students are familiar with the major platforms.
In 2013, Under Armour had $2.3 billion in sales yet only $500 million came from its women's apparel, and the company was ready to expand into the female market segment. The "I Will What I Want" global women's marketing campaign was the largest Under Armour had ever run. Founder Keven Plank and his team launched the campaign on a mulitchannel platform, with social media at its core. The campaign's success surpassed what Plank had imagined, and he is left wondering where to take Under Armour's advertising and marketing next. This case has been used successfully in a marketing course and would be suited for any class with a focus on interactive media, technology, and multichannel marketing.
By July 2015, 20% of Starbucks' payments in the United States came through its mobile app. The company had created a tool to both drive loyalty and grow its customer base. No stranger to innovation, Starbucks was partnering with iTunes as early as 2007, earned its first mobile marketer of the year award by 2010, introduced its mobile app in 2011, and by 2015, 94% of Facebook users were either fans of Starbucks or friends with someone who was. This case explores the company's commitment to mobile and its social media prowess, and considers just what it takes to drive loyalty in a customer base.
This case follows a young entrepreneur as she launches a crowdfunding campaign to expand her already-established craft ice cream company. The story reveals the several steps taken from the planning phase through execution of the online campaign. This case provides an opportunity for students to learn about the benefits and drawbacks of crowdfunding, both as a form of marketing a business as well as garnering capital for expansion of a small business.