On June 16, 2024, the chief executive officer (CEO), founder, and director of V21 Group of Ventures (V21), a real estate conglomerate based in Pune, India, was preparing to meet with members of a housing society in Mumbai to finalize the agreement for a residential reconstruction project. While the CEO had successfully built five real estate ventures, this was V21’s first project in the challenging field of real estate development, and it presented distinct challenges, including navigating complex regulatory environments, establishing credibility in a competitive market, and securing substantial funding in an industry known for its high entry barriers. The move into real estate development represented a pivotal moment in this entrepreneurial journey, one that could elevate the V21 Group to new heights, and the CEO was facing several critical decisions: He needed to decide how to visualize the business model for this development venture. What should be its key elements? What key strategies should he develop for market entry, funding, and marketing, and how could he tailor these to both the external environment and his available resources? Most importantly, as the Mumbai market was dominated by established players and strict regulatory hurdles, how could he overcome the credibility gap he faced as a new developer in this market?
In September 2024, the governor of India’s central bank was reading a newspaper article that criticized the current monetary policy, the Flexible Inflation Targeting framework. The article questioned the appropriateness and effectiveness of the framework and was calling for a return to the previous multiple-indicators approach. Since its implementation in 2016, the Flexible Inflation Targeting framework was focused on price stability as the primary goal of monetary policy, with the Consumer Price Index combined as the nominal anchor and with the Monetary Policy Committee being responsible for setting policy rates to achieve a specific inflation target. Expert opinions were divided on the optimal monetary policy framework but the governor had to evaluate all options and make a decision. He could replace the framework with the previous multiple-indicators approach, “rejig” (or modify) the current framework by adjusting metrics or target values, or continue pursuing the Flexible Inflation Targeting framework. Which option would best achieve the central bank’s monetary goals and manage the trade-off between growth and inflation in the pursuit of price stability?
In a collective prisoners' dilemma or commons problem, self-interested behavior by firms results in poor outcomes for all. Can self-regulation through an industry association solve the commons problem? Specifically, what explains NASSCOM's (National Association of Software and Service Companies) success in saving a scandal-ridden member company, Satyam, from going out of business? Satyam's demise would have shattered client trust in all Indian IT firms; saving it was an unprecedented feat for an industry association. The case provides concrete examples for instructors to highlight the varieties of commons problems faced by industry. It also provides background information on how NASSCOM established its identity and credibility with the government, formulated its values, and crafted its governance model. This background helps students relate to Elinor Ostrom's core design principles that characterize robust institutions for solving commons problems.
Mysore Deep Perfumery House (MDPH) faced the challenge of scaling a low-tech business in the incense stick market. Led by Prakash Agarwal and his sons, MDPH secured a substantial domestic market share through competitive pricing and extensive distribution, aiming to achieve a ₹10 billion turnover by 2026. The company had to choose between expanding their core business or diversifying into related or new product lines. Expansion entailed deeper market penetration and product variation, while diversification presented opportunities in sectors like home fragrances or personal care products. The chosen strategy had to align with MDPH's economic and non-economic family goals, considering market dynamics and consumer trends. By leveraging their brand equity and distribution networks while staying true to their values, MDPH had the opportunity to navigate industry challenges and realize their growth ambitions.
Mysore Deep Perfumery House (MDPH) faced the challenge of scaling a low-tech business in the incense stick market. Led by Prakash Agarwal and his sons, MDPH secured a substantial domestic market share through competitive pricing and extensive distribution, aiming to achieve a ₹10 billion turnover by 2026. The company had to choose between expanding their core business or diversifying into related or new product lines. Expansion entailed deeper market penetration and product variation, while diversification presented opportunities in sectors like home fragrances or personal care products. The chosen strategy had to align with MDPH's economic and non-economic family goals, considering market dynamics and consumer trends. By leveraging their brand equity and distribution networks while staying true to their values, MDPH had the opportunity to navigate industry challenges and realize their growth ambitions.
In August 2022, a student pursuing his master of business administration degree in Mumbai at one of India's top business schools found himself in a despondent situation as he prepared his curriculum vitae (CV) to apply for an internship position at Golden Tobacco Company. He had written an email to his former project supervisor (a senior fellow of the MIT Media Lab at the Indian Institute of Technology Bombay), requesting him to approve the project the student had worked on under his supervision as relevant experience for the internship position. In response, the student received an email from his supervisor with one terse line: "Is this an order?" With a deadline that very evening to submit the CV, the student was in a tizzy. Where had he gone wrong in his email to prompt the terse reply from his former supervisor? How could he fix the situation? And how could he prevent such a situation when writing emails in the future?
In August 2022, a student pursuing his master of business administration degree in Mumbai at one of India’s top business schools found himself in a despondent situation as he prepared his curriculum vitae (CV) to apply for an internship position at Golden Tobacco Company. He had written an email to his former project supervisor (a senior fellow of the MIT Media Lab at the Indian Institute of Technology Bombay), requesting him to approve the project the student had worked on under his supervision as relevant experience for the internship position. In response, the student received an email from his supervisor with one terse line: “Is this an order?” With a deadline that very evening to submit the CV, the student was in a tizzy. Where had he gone wrong in his email to prompt the terse reply from his former supervisor? How could he fix the situation? And how could he prevent such a situation when writing emails in the future?
In May 2022, Rohan Jain, the second-generation entrepreneur of an Indian family-managed carpet design firm, TexCarp Consulting, had to decide whether to enter a new vertical with one of their biggest clients, American Carpets. The opportunity involved using technology and personnel to carry out virtual reality rendering for American Carpets so that the US-based company could showcase its products to clients in virtual space. Jain tried to convince his father to invest. But the technology involved high costs, and Jains's father was opposed to the idea, since it would involve tying capital to fixed costs. But Jain could also convert the fixed costs into variable costs by either hiring technology or outsourcing the project. Should Jain go ahead with the VR rendering project? And if so, which of the three options should he select: buy, hire, or outsource the required technology and personnel?
In May 2022, Rohan Jain, the second-generation entrepreneur of an Indian family-managed carpet design firm, TexCarp Consulting, had to decide whether to enter a new vertical with one of their biggest clients, American Carpets. The opportunity involved using technology and personnel to carry out virtual reality rendering for American Carpets so that the US-based company could showcase its products to clients in virtual space. Jain tried to convince his father to invest. But the technology involved high costs, and Jains’s father was opposed to the idea, since it would involve tying capital to fixed costs. But Jain could also convert the fixed costs into variable costs by either hiring technology or outsourcing the project. Should Jain go ahead with the VR rendering project? And if so, which of the three options should he select: buy, hire, or outsource the required technology and personnel?
In May 2021, the South Korean boy band BTS beat out other international musicians for all four of the <i>Billboard</i> Music Awards for which they had been nominated. “Dynamite,” BTS’s top-selling song, was the band’s first song in English. BTS and other K-pop groups had been able to achieve a high level of global success, especially since 2013, despite singing in a language that was foreign to many listeners. K-pop and other elements of Korea’s creative economy represented Hallyu or “Korean Wave” of globally popular Korean entertainment and culture. Hallyu had contributed to the South Korean economy since 1999. Were Hallyu and its constituents serendipitous? How did BTS, K-pop, and Korea’s creative economy act as Korea’s secret weapon? Were there limits to the use of Hallyu?
In May 2021, the South Korean boy band BTS beat out other international musicians for all four of the Billboard Music Awards for which they had been nominated. "Dynamite," BTS's top-selling song, was the band's first song in English. BTS and other K-pop groups had been able to achieve a high level of global success, especially since 2013, despite singing in a language that was foreign to many listeners. K-pop and other elements of Korea's creative economy represented Hallyu or "Korean Wave" of globally popular Korean entertainment and culture. Hallyu had contributed to the South Korean economy since 1999. Were Hallyu and its constituents serendipitous? How did BTS, K-pop, and Korea's creative economy act as Korea's secret weapon? Were there limits to the use of Hallyu?
In March 2021, faced with emphatic calls from a minority group of dissatisfied investors worried about Danone SA’s poor financial performance, Danone’s board of directors asked Emmanuel Faber, Danone’s chair and chief executive officer (CEO), to step down from his leadership position.<br><br>Danone had a long history of being a purpose-driven company, and Faber’s personal values mirrored the company’s values. Why did a historically purpose-driven company succumb to the demands of a minority of shareholders? How would Faber’s departure affect the general movement toward responsible capitalism? Was his strategy justifiable and should it be continued or rejigged under a new CEO?
In March 2021, faced with emphatic calls from a minority group of dissatisfied investors worried about Danone SA's poor financial performance, Danone's board of directors asked Emmanuel Faber, Danone's chair and chief executive officer (CEO), to step down from his leadership position. Danone had a long history of being a purpose-driven company, and Faber's personal values mirrored the company's values. Why did a historically purpose-driven company succumb to the demands of a minority of shareholders? How would Faber's departure affect the general movement toward responsible capitalism? Was his strategy justifiable and should it be continued or rejigged under a new CEO?
In October 2020, Google LLC (Google) found itself involved in a controversy with both the Indian government and the country’s developers of mobile applications (apps). Google announced that it would be enforcing its global policy that required app developers to pay a 30 per cent commission on all in-app purchases of digital goods bought on Google Play, the company’s digital distribution platform for app purchases. Google’s announcement drew particular opposition in India. With 500 million smartphone users in India, of which 95.85 per cent operated on Google’s Android operating system, the app market was heavily skewed in favour of Google. In its goal to dominate the Indian app market, Google had to resolve several key issues. What advantages to users and developers could the company emphasize to justify imposing what India’s start-ups and app developers were calling a Google tax? Could a new competitor, such as the proposed platform from India’s government or from the technology start-ups, replicate those same advantages? How should Google respond to the complaints against the policy and the threats of antitrust action against the company?
In October 2020, Google LLC (Google) found itself involved in a controversy with both the Indian government and the country's developers of mobile applications (apps). Google announced that it would be enforcing its global policy that required app developers to pay a 30 per cent commission on all in-app purchases of digital goods bought on Google Play, the company's digital distribution platform for app purchases. Google's announcement drew particular opposition in India. With 500 million smartphone users in India, of which 95.85 per cent operated on Google's Android operating system, the app market was heavily skewed in favour of Google. In its goal to dominate the Indian app market, Google had to resolve several key issues. What advantages to users and developers could the company emphasize to justify imposing what India's start-ups and app developers were calling a Google tax? Could a new competitor, such as the proposed platform from India's government or from the technology start-ups, replicate those same advantages? How should Google respond to the complaints against the policy and the threats of antitrust action against the company?