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In June 2021, the chief executive officer of Hallmark Cards Inc., a leading US greeting cards and gifts company, faced challenges as the digitalization of cards was gaining pace. This growing trend forced the company to overhaul its operations. Although it tried to cope with the changing business environment, the company suffered both in revenue and profit marking. The chief executive officer took efficiency-increasing measures and laid off employees from the greeting cards division, retail business, and corporate support functions. He also invested in greeting card digitalization and innovation efforts, but was wondering if he should focus more on efficiency or innovation measures to achieve turnaround for the company's operations. What innovation strategies should he pursue to make Hallmark Cards Inc. relevant to changing consumer preferences?

In 2021, the US grocery industry had been undergoing several changes. The competitive landscape had changed significantly since the first decade of the twenty-first century. Walmart Inc. (Walmart) had emerged as the dominant retailer in all markets leading to bankruptcies and mergers with erstwhile market leaders. However, mistakes made by Walmart in that same period allowed ALDI SÃœD Dienstleistungs-SE & Co. (Aldi) to make its presence felt with Walmart's customers. Aldi was gaining its advantage through rapid expansion, with an increasingly broader assortment of products meant to attract upscale customers. Walmart initially tried to respond by opening small-format stores. Walmart had to decide whether this was the right approach to use to fight Aldi, or whether it was even a worthwhile fight. On the other hand, Aldi needed to be careful with how fast and far it should deviate from the core business model that had been instrumental in its success. Finally, the grocery business model had a growing online component that became more prominent during the COVID-19 pandemic. Therefore, Aldi and Walmart also had essential decisions to incorporate these online aspects into their respective business models.

In January 2021, Girish Hanchate, the vice-president of the industrial distribution segment at SKF India Ltd. (SFK India), located in the Indian city of Pune, was facing a difficult problem. He had to find a way to mitigate the ongoing drop in sales from key industrial customers in India resulting from COVID-19 pandemic lockdowns, with many SKF India customers switching to lower-priced competitors. SKF India had been successfully delivering industry-leading, high-value products, services, and knowledge-engineered solutions to its customers for many years. The company was well respected for its outstanding product quality, performance, and unmatched customer-centric approach. However, Hanchate was wondering if he should rethink the company’s business strategy. The drop in customers meant a significant revenue loss for SKF India because the industrial division was a significant profit driver for the company.

In January 2021, Girish Hanchate, the vice-president of the industrial distribution segment at SKF India Ltd. (SFK India), located in the Indian city of Pune, was facing a difficult problem. He had to find a way to mitigate the ongoing drop in sales from key industrial customers in India resulting from COVID-19 pandemic lockdowns, with many SKF India customers switching to lower-priced competitors. SKF India had been successfully delivering industry-leading, high-value products, services, and knowledge-engineered solutions to its customers for many years. The company was well respected for its outstanding product quality, performance, and unmatched customer-centric approach. However, Hanchate was wondering if he should rethink the company's business strategy. The drop in customers meant a significant revenue loss for SKF India because the industrial division was a significant profit driver for the company.

Science, technology, engineering, and math (STEM) students are expected to learn an overwhelming amount of information in order to graduate college; however, in today's job market, it takes more than simply understanding STEM concepts to be successful. In this text, Roger Forsgren-NASA's former chief knowledge officer-offers STEM students critical lessons within four main areas: being an introvert in an extroverts' world, communication skills, critical thinking, and ethics. Each chapter acts as a practical guide and includes actionable strategies and historical case studies-some surrounding engineering topics, some not-demonstrating essential knowledge for STEM graduates as they progress in their careers. While this book is specifically written for individuals in STEM, many college graduates will find value in it regardless of their degree. Chapter 1 begins by describing a stereotypical engineer's personality: curious, extremely logical, focused, practical, and orderly. An engineer's personality is typically that of an introvert, but we live in an extrovert's world. Rather than changing their personality, engineers need to learn to adapt and temporarily transform into ambiverts in order to succeed. Ambiverts recognize that they may have to set aside their introversion at times and speak up; advice is offered on how to have your voice be heard, including practicing beforehand, making eye contact, and volunteering to speak first. Three case studies are presented. The need to speak up is demonstrated through the NASA Challenger tragedy and a project for NASA's Hypersonic Test Facility. A case focusing on Herbert Hoover is also offered along with questions and discussion points.

Science, technology, engineering, and math (STEM) students are expected to learn an overwhelming amount of information in order to graduate college; however, in today's job market, it takes more than simply understanding STEM concepts to be successful. In this text, Roger Forsgren-NASA's former chief knowledge officer-offers STEM students critical lessons within four main areas: being an introvert in an extroverts' world, communication skills, critical thinking, and ethics. Each chapter acts as a practical guide and includes actionable strategies and historical case studies-some surrounding engineering topics, some not-demonstrating essential knowledge for STEM graduates as they progress in their careers. While this book is specifically written for individuals in STEM, many college graduates will find value in it regardless of their degree. Chapter 2 discusses the importance of building communication skills. Communication skills are vital for everyone in their careers, but both old and new engineers struggle with this. Suggestions on how to write professionally are outlined, such as including a clear thesis statement, being aware of tone, and avoiding the use of pronouns. Ultimately, professional writing should be as direct and simple as possible. Tips on speechmaking and giving presentations are also offered, including being prepared but not overprepared, sharing something about yourself at the beginning, and recognizing that the audience wants you to be successful. In all communication, concision is key. The three case studies in this chapter share stories of a fire at Mann Gulch, NASA's Mars Surveyor 1998 program, and how Lee's lack of communication skills may have affected the outcome of the Battle of Gettysburg.

Science, technology, engineering, and math (STEM) students are expected to learn an overwhelming amount of information in order to graduate college; however, in today's job market, it takes more than simply understanding STEM concepts to be successful. In this text, Roger Forsgren-NASA's former chief knowledge officer-offers STEM students critical lessons within four main areas: being an introvert in an extroverts' world, communication skills, critical thinking, and ethics. Each chapter acts as a practical guide and includes actionable strategies and historical case studies-some surrounding engineering topics, some not-demonstrating essential knowledge for STEM graduates as they progress in their careers. While this book is specifically written for individuals in STEM, many college graduates will find value in it regardless of their degree. Chapter 3 focuses on the need for critical thinking skills. Socrates taught critical thinking skills and techniques; he asked focused questions to confirm the logic and determine the validity of an idea. He would examine the premise, challenge the assumption, examine the logic, consider motivations, and think through the implications. Being aware of our own limitations is also vital to critical thinking skills. Emotion can get in the way of critical thinking, and while intuition is real, it can be dangerous for an engineer to rely on intuition. Recognizing cognitive biases is essential to developing critical thinking skills; several cognitive biases are outlined, including overconfidence bias, hindsight bias, and sunk cost effect bias. Case studies looking at sudden infant death syndrome in the early 1900s and the protection of Allied planes during World War II are offered.

Science, technology, engineering, and math (STEM) students are expected to learn an overwhelming amount of information in order to graduate college; however, in today's job market, it takes more than simply understanding STEM concepts to be successful. In this text, Roger Forsgren-NASA's former chief knowledge officer-offers STEM students critical lessons within four main areas: being an introvert in an extroverts' world, communication skills, critical thinking, and ethics. Each chapter acts as a practical guide and includes actionable strategies and historical case studies-some surrounding engineering topics, some not-demonstrating essential knowledge for STEM graduates as they progress in their careers. While this book is specifically written for individuals in STEM, many college graduates will find value in it regardless of their degree. Chapter 4 starts by describing the human brain's prefrontal cortex and how it provides humans with a conscience and the ability to intrinsically know ethical behavior. Morals are personal beliefs we try to guide our lives by, and ethics are societal or organizational rules to regulate behavior. While morals and ethics are often complimentary, they can conflict. Morals and ethics, not just data, must be taken into account in an engineer's work. Several questions are offered in order to determine whether or not a situation is a moral issue and to make ethical decisions. The three case studies provided describe the Volkswagen emissions scandal (Dieselgate), NASA's Apollo 12 mission, and Albert Speer's work for Nazi Germany.

LCA action plans integrate responsibility and accountability into decision-making and planning. This module note was designed for the LCA course and reviews six steps leaders can follow to develop a practical LCA action plan for their business. It shows how integrating an LCA perspective can help leaders make better strategic decisions when planning by helping them clarify analysis, sharpen criteria for success, and be better prepared to manage risk.

The "Moral Complexity in Leadership" series of cases and teaching notes help business instructors harness the power of fiction to prepare students for the moral and ethical dilemmas they will face throughout their careers. Meaningful fiction challenges students intellectually and emotionally; it reveals the inner worlds of human players and enables learning that can be difficult to access through case studies, commentary, or reporting. Through literature, students will wrestle with the kinds of problems they will face as leaders looking to make courageous decisions aligned with their moral codes. The works in this series represent a wide range of settings, viewpoints, and cultural frameworks; the characters are complex and contradictory, and the systems within which they operate (whether family, organizational, or cultural) influence them in varied ways. They have been taught to executive, full- and part-time MBA student audiences for many years. The series aims to increase students' understanding of moral frameworks and enhance their skills in facilitating and participating in healthy and productive dialogue about complex and provocative issues. In this installment of the series, "Greed," we examine Leo Tolstoy's "How Much Land Does a Man Need?" This classic tale of a man who forfeits everything in his pursuit of more land gives students an opportunity to discuss how comparison and escalating acquisitiveness (greed) affect them in their professional and communal circles. It also creates an opportunity for meaningful discussion of ways to identify and manage the human tendency to want more.

The authors contend that addressing the question "How much do my employees trust me?" is the real key to employee engagement. They discuss a free tool developed at Deloitte "HX TrustID" that companies can use to gauge employee trust and devise strategies for improving it. They then describe how two organizations one large, and one small have used the tool to address leaders' performance in four areas that contribute to employee trust: humanity, transparency, capability, and reliability.

GRW Engineering (Pty) Ltd. (GRW) is a road transport equipment designer, manufacturer, and servicer based in South Africa. With GRW facing increased competition in 2022 when one of GRW’s major suppliers buys out a local competitor, Gerhard Van der Merwe, co-founder of GRW and chief executive officer since its inception in 1996, knows that GRW must now compete directly against a giant multinational and develop an appropriate strategy. Van Der Merwe must decide whether to compete directly with the international firm or to internationalize. If GRW were to internationalize, he will need to determine whether to focus GRW’s energies on Sub-Saharan Africa or to manufacture in Europe.

GRW Engineering (Pty) Ltd. (GRW) is a road transport equipment designer, manufacturer, and servicer based in South Africa. With GRW facing increased competition in 2022 when one of GRW's major suppliers buys out a local competitor, Gerhard Van der Merwe, co-founder of GRW and chief executive officer since its inception in 1996, knows that GRW must now compete directly against a giant multinational and develop an appropriate strategy. Van Der Merwe must decide whether to compete directly with the international firm or to internationalize. If GRW were to internationalize, he will need to determine whether to focus GRW's energies on Sub-Saharan Africa or to manufacture in Europe.

Information asymmetry is pervasive in business and can often confer great advantage. This note distinguishes forms of deceptive behavior in the face of information asymmetry and aims to help students analyze their impermissibility. The note also introduces students to the method of reflective equilibrium as an approach to ethical analysis.

When it comes to valuing projects in highly uncertain business environments, real options valuation (ROV) isn’t popular as a management tool despite having long been touted as a best practice in academic circles. Seeking to understand why industry has failed to adopt this best practice, the authors interviewed valuation specialists in finance, consulting, and the mining industry. This article aims to help more industry players see ROV as, well, a real and valuable option by highlighting the case for using real options in highly uncertain business environments and offering recommendations on how to effectively deploy ROV. The authors found that the poor adoption of ROV occurs for three key reasons. First, it happens due to a lack of managerial expertise and knowledge. Second, the ROV computation process is highly complex. Third, communication issues exist because the outcomes of ROV are not easily understood without strong knowledge of the underlying concepts. To overcome these limitations and promote the use of real options, the authors present three recommendations: improve training and education, practice greater transparency, and communicate clearly. In order to facilitate these three recommendations, the authors have developed a new ROV software tool to value commodity-producing projects such as mines or refineries. Their Monte Carlo simulation method approximates the ROV by determining the optimal exercise strategy, enabling users to model complex real options problems that include multiple stochastic variables, early exercise rights, and operational flexibility.

Planet Milk produced and distributed A2 milk in Bhubaneswar, the capital city of the state of Orissa, in India. Despite the best efforts of its founder, Planet Milk had remained unprofitable since the COVID-19 pandemic struck in March 2020. In January 2022, the founder considered three broad alternatives to revive his milk business. The first was to change the milk’s packaging from glass bottles to Tetra Pak cartons. This change in packaging would increase the milk’s shelf life, allow wider customer reach, and improve revenues. The second alternative was to introduce an online order management option for consumers, which would increase the visibility of demand and thereby increase the operational efficiency of the business, reduce wastage and logistics costs, and increase profits. However, these options also required significant capital investments that would potentially not be recouped if the desired increase in sales did not occur. The third option was to target institutional buyers or retail channel partners, which would potentially increase sales but also decrease margins and increase credit. The founder had three months to implement a revival plan; if it proved unsuccessful, he could sell the business.

Planet Milk produced and distributed A2 milk in Bhubaneswar, the capital city of the state of Orissa, in India. Despite the best efforts of its founder, Planet Milk had remained unprofitable since the COVID-19 pandemic struck in March 2020. In January 2022, the founder considered three broad alternatives to revive his milk business. The first was to change the milk's packaging from glass bottles to Tetra Pak cartons. This change in packaging would increase the milk's shelf life, allow wider customer reach, and improve revenues. The second alternative was to introduce an online order management option for consumers, which would increase the visibility of demand and thereby increase the operational efficiency of the business, reduce wastage and logistics costs, and increase profits. However, these options also required significant capital investments that would potentially not be recouped if the desired increase in sales did not occur. The third option was to target institutional buyers or retail channel partners, which would potentially increase sales but also decrease margins and increase credit. The founder had three months to implement a revival plan; if it proved unsuccessful, he could sell the business.

Gaining the ability to make better investment decisions via ROV analysis isn't as complex as many business managers think

No hierarchies, no superiors, circles, roles, and complete transparency. That was the secret to Liip's success after it moved from a pyramid to a holacratic structure. In starting the high-tech digital agency in 2007, the co-founders were clear that the firm's employees belonged at the centre of all activities, projects, and decisions, and they enjoyed enormous freedom, trust, and responsibility. If employees were not doing well, customers and the company itself were not doing well. The company gained speed, flexibility, and agility with this management system. By 2022, Liip had expanded to six Swiss locations, and its employee number had jumped from 130 to more than 200. Holacracy was integral to operations, and every staff member could explain exactly how holacracy worked. Liip had been a pioneer in implementing holacracy, and while it had experienced steady growth, it had also faced many challenges.