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The owner of Tesco Cranes Engineers Pvt. Ltd. was considering the impact of various issues that had led to the closure of the company’s sub-assembly plant in December 2012. Despite his efforts, he had not been able to stop workers from joining a regional trade union in July 2012. Immediately after joining the trade union, workers had slowed down production and gone on strike. Later, the plant had been closed by the owner. The company had suffered a production decline as a consequence of the strike and the subsequent plant closure. In view of these unexpected events, the owner was facing a dilemma. On one hand, he was wondering whether he should take proactive action to prevent a similar situation from occurring in the other two Tesco Cranes Engineers Pvt. Ltd. plants in the future. On the other hand, he was questioning whether it had been ethical of him to close the sub-assembly plant; he knew that this decision had left all of those workers unemployed and helpless, with most of them doing menial work or returning to their villages.

Pahalwan’s was a chain of four outlets that offered sweets, snack food and fast food in Jammu, India. It had a major presence in the state of Jammu and Kashmir and was delivering products to other parts of India, such as Delhi. However, local, national and international food retailers had entered the market, increasing the competition. Changing consumer preferences had also started affecting the company. Pahalwan’s did not believe in advertising its products and focused little energy on branding activities. Thus, there was a need to plan for an innovative and cost-effective communication strategy to boost its sales. Pahalwan’s also needed to think about new products and new markets to stay in business.

Waze successfully developed a free smartphone mapping application that gave consumers turn-by-turn directions and real-time traffic data. This digital map compiled driver-generated data from Waze's community of users to relay constantly updated information on conditions such as traffic accidents, speeding-camera locations, and construction zones. By October 2012, Waze had captured 10 percent of the U.S. iOS mapping market and had grown to serve over 28 million users, with an expectation of reaching 100 million "Wazers" by 2015. Noam Bardin, Waze's CEO, recognized the company's emergence as a leader in its space and understood that a fresh capital injection would be needed to lead it through the next stage of development. Waze's previous fundraising attempts had been fraught with challenges. In October 2009, just one day before Bardin anticipated accepting a Series B term sheet, Google released Google Maps Navigation. Investors felt Waze would eventually be pushed out of the market by what would now be considered the industry's 800-pound gorilla and rescinded their offers for funding. But now, in 2012, Waze's strong market position enabled Bardin to negotiate with potential investors from a position of strength. In December 2012, Bardin secured a $100 million Series D round of financing at a $700 million pre-money valuation. Prior to finalizing the terms of the agreement, however, the CEO hesitated. With the draft term sheet before him, Bardin thought, "Have I exhaustively evaluated all of the changes that might ensue by taking this money?"

The case provides an overview and history of women in venture capital. The case examines the lack of funding that female entrepreneurs have had in the past. The case focuses on 4 women at venture capital firms: Sharon Wienbar (Scale VP), Joyce Chung (Garage Technology Venture Partners), Patricia Nakache (Trinity Ventures), and Rebecca Lynn (Canvas Venture).

GenapSys, a California-based startup, was soon to release a new DNA sequencer that the company's founder, Hesaam Esfandyarpour, believed was truly revolutionary. The sequencer would be substantially less expensive-potentially costing just a few thousand dollars-and smaller than other sequencers, many of which were large devices costing tens of thousands or hundreds of thousands of dollars. GenapSys' device, named GENIUS, could also quickly generate large amounts of data, as it was capable of sequencing an entire human genome in less than eight hours. At this price, GenapSys' device would be attractive to customers that had been unable to afford sequencers, such as smaller laboratories or hospitals, and even expand the market to include industries such as agriculture and biofuels. As GenapSys came closer to releasing its product, Esfandyarpour and his Senior Director of Operations and Strategy, Leila Rastegar (HBS '11), sat down to decide which of three business models they would choose to bring this device to market. In the first model, the company would sell sequencers at a higher price to those entities which already purchased sequencers, primarily major research labs and pharmaceutical firms, but position its machine as a faster alternative to existing technologies. In the second model, GenapSys would sell its sequencer at a lower price but charge more for the cartridges necessary to run a sample, and earn its primary revenue from these cartridges. The third model would see GenapSys sell its device at or around cost, but use the data customers generated to create a proprietary database of genetic information. Customers could pay to access the database for research, to create genetic tests, or for many other purposes. GenapSys would also build an online store with the genetic tests customers created. Esfandyarpour's and Rastegar's decision would determine GenapSys' customer base and financial position for the coming years, and also impact develop

At the time of the American War of Independence (1776-1783) and for several decades after it, Great Britain dominated the global production of cotton textiles. In fact, Britain became so dominant in textile manufacturing and trading that Manchester, its industrial capital, was nicknamed "Cottonopolis." By contrast, American manufacturing of export-oriented or even tradable-quality cotton textiles was practically nonexistent. This position of relative American backwardness changed with the influence of two prominent individuals: Samuel Slater (1768-1835) and Francis Cabot Lowell (1775-1817). Slater, a skilled British textile machinery engineer helped to develop the country's first cotton spinning mill. Lowell, a member of a prominent New England mercantile family, established the first integrated cotton spinning and weaving facility in what became the city of Lowell, Massachusetts. Together Slater and Lowell brought the sophistication of British industrial revolution technology and introduced innovative methods of factory production to the United States.

Course overview of The Entrepreneurial Manager.

Ecovative Designs (Ecovative), a start-up company in upstate New York, uses an innovative process to combine agricultural waste and mycelium (mushroom “roots”) to grow forms for use in a wide variety of applications, especially a protective packaging material. Not only does this new product replace the need for the environmentally harmful alternative, extruded polystyrene, but the production process is less energy intensive. It exemplifies the cradle-to-cradle design indicative of a sustainably embedded product and attractive to companies looking to reduce their carbon footprint. In just a few years, Ecovative has expanded from a lab to a large facility funded partly through research grants and partly from contracts with two large corporations. In 2013, the partners are considering whether to sign a contract with Sealed Air, one of the largest distributors of packaging materials in the world, but the deal would mean relinquishing control over the only profitable segment of their company. They are considering alternative growth strategies to find the one that fits best with their goal: to have the largest impact on the planet while remaining profitable.

A budding entrepreneur in India is planning to set up a fly ash brick manufacturing plant near a thermal power plant. Not only does making bricks out of the residue of coal power generation reduce the amount of fly ash waste dumped on the ground, but the government is actively supporting the fly ash brick industry as a way to meet the increasing demands for construction materials that are environmentally sustainable. On the basis of preliminary analysis, the entrepreneur decides to set up a plant that will have the capacity to manufacture four million bricks. Though actual production will depend on market demand, he and his potential partner estimate that 2.4 million bricks can be sold per year at an average Rs 7,000 per 1,000 bricks. He wants to ascertain the feasibility of the project using a cost-volume-profit analysis.

It was February 2009, when Eric Edelson wondered to himself how he had gotten into this situation. Less than two years earlier, Edelson had been an MBA student at the Stanford Graduate School of Business ready to market a footwear product to the elderly. Since then, he had been unemployed, fired from his first job, and had acted as an underpaid consultant for a series of small and struggling companies. At present, Edelson was an operator at Fireclay Tile, an insolvent tile manufacturer with revenues of less than $3 million. Much had changed for Edelson since his pre-GSB days at Lehman Brothers. As Edelson sat in Fireclay founder Paul Burns' car driving what would become a daily commute from his home in San Francisco, California, to Fireclay's headquarters in San Jose, California, he evaluated the challenges that lay before him. Edelson had initially been brought in by Burns and his partner to evaluate BottleStone, one of Fireclay's product lines. Over time, Edelson had become more involved in Fireclay's strategy development and operations, eventually helping Burns highlight Fireclay's inefficiencies and providing him with actionable recommendations on how to address them. Little did Edelson know then that his work would result in his potentially joining and operating the company. Edelson had provided Burns with his turnaround plan just a few weeks before with the expectation that Burns would execute the recommendations himself. Now, Edelson was in a position to take charge and assume the responsibility of turning around the flailing organization. Pulling up to Fireclay's headquarters in San Jose, and with his game plan in hand, Edelson knew he had his work cut out for him.

Martin Blair is a first-time entrepreneur who draws on his experience in the food service industry to develop two different restaurant concepts almost simultaneously. In relating his experiences, he reveals several important concerns of the thoughtful entrepreneur, ranging from securing financing to building out physical spaces. Both restaurants are successful, and Blair now wants to grow the business. In particular, he must decide whether to grow one or both of the concepts, and whether to use franchising as a growth strategy for either, or potentially both. He must consider the pros and cons of franchising, which apply differently to each of his restaurant brands.

Spreadsheet Supplement for Product #914521

Nurturing Green is a three-year-old private company that is trying to change the gift-giving culture of India by offering attractively packaged potted plants in place of the traditional candy or cut flower bouquets presented on special occasions to friends, family and business associates. The founder of the start-up is a young, passionate entrepreneur who is risking much in order to grow his company. To realize the idea of “green gifting” to help the environment, he has accepted funding from a venture capitalist firm in exchange for giving up 25 per cent equity in his business. Now, it is time to revisit that agreement and, although the company has been very successful, the owner is concerned that the investors will demand more control and a faster growth focus than he is willing or able to meet. He is also worried about the sales forecast, return on investment for the short and the long term, monthly cash flows and employee motivation and performance reviews. Should he respond to the many requests to franchise the business or should he concentrate on developing the brand in new markets? How can he expand business-to-business sales while also opening more stores in malls in all parts of the country to sell directly to customers? Will the new website develop more online sales? As he prepares for a meeting with the auditors and investors, the owner looks for a solution to continue growing while retaining control over his company.

A wealth management company in Chile that provided financial advisory services to high net worth individuals and pension funds was at a crossroads. After 15 years in business, the company had become very successful. To increase its value without incurring undue corporate financial risk, the owner, who has invested most of his personal wealth in the company, has the opportunity to make an investment in a similar wealth management company in Colombia. What are the risks and rewards of such a complex international merger and acquisition for this medium-sized enterprise operating in an uncertain political and economic environment?

The pharmaceutical industry prides itself on being the second largest growth industry in India; by the year 2015, it will be the third largest industry in the world. One of its major players, Micro Labs Limited, was established to provide quality healthcare products at an affordable cost. From supplying antibacterial antiseptics and vitamins to a local market, the company has expanded both nationally and internationally in such fields as eye care, heart disease, diabetes, neuropsychiatry, dermatology, paediatrics and gynecology. It not only provides training for specialists in its various sectors, but has a strong emphasis on research and development of new drugs and licensing them internationally. The founder’s sons have taken over the firm and now must decide how to maintain its competitive edge and how to achieve its goal of becoming a $1 billion company while respecting and enhancing their father’s vision for the brand.

Indian Foods Fermentation Limited (IFFL) was established in 1992 by Narayanan to develop an expert dosa maker that will be used in fast food restaurants, "Dosa King". According to market research carried out by IFFL in 1992, on any given day, 20 million dosas were consumed in India. Narayanan and his colleagues at IFFL decided to develop an automatic dosa delivery system that would deliver standardized dosa at an interval of 30 seconds. The system requirement was that the dosa should have the same size, color, crispiness, and taste. The project was funded by venture capitalists and Narayanan had to take several decisions during the design and development of automatic dosa delivery system. The Dosa King was intended to be a mass-distributed item, and the number of retail points across the country was meant to be in excess of 10,000 within 5 years from its launch in 1992. The IFFL realized that their largest stakeholder would therefore inevitably be the retailer or franchisee who invested in dosa machines, batter, and masala, and also interfaced with the customer. The IFFL conducted a market survey to capture the "voice of the customers" for the dosa delivery system and identified various system requirements. At various stages of product development, Narayan had to take several key decisions related to the design and development of machine, decision on inputs for preparation of dosa batter and other accompaniments, etc. In 1992, India did not have any western fast food chains. India went through a period of major economic reform in 1991 and the economy started growing much faster after the nineties. Narayanan expected the demand for fast food to grow in all major cities of India. Equipped with his experience at Coca-Cola and Nestlé, Narayanan was confident that he could change the restaurant industry in India.

An owner was concerned about the condo she bought in Mont Tremblant, Quebec in 2006 as an investment property and for occasional use by her family. A beautiful, five-bedroom unit with a panoramic view over the La Bête golf course, it was close to the ski area, the village of Tremblant, shopping, spas, restaurants and a casino. It was fully furnished with many upgrades. However, by 2010, the number of rentals was disappointing, and the unit was operating well below expectations. Something had to be done to increase occupancy or she would have to sell the property. She considered changes in all aspects of marketing: her target, positioning, product features, pricing, distribution and promotion. She needed to assess the situation and determine what could be done to generate more bookings and make the venture profitable.

An owner was concerned about the condo she bought in Mont Tremblant, Quebec in 2006 as an investment property and for occasional use by her family. A beautiful, five-bedroom unit with a panoramic view over the La Bête golf course, it was close to the ski area, the village of Tremblant, shopping, spas, restaurants and a casino. It was fully furnished with many upgrades. However, by 2010, the number of rentals was disappointing, and the unit was operating well below expectations. Something had to be done to increase occupancy or she would have to sell the property. She considered changes in all aspects of marketing: her target, positioning, product features, pricing, distribution and promotion. She needed to assess the situation and determine what could be done to generate more bookings and make the venture profitable.

Struggling Sibling Partners deals with the difficulty of creating a sense of fairness in family business relationships. The case explores the challenges of leading and governing a family business equally owned by three siblings. It is used as an introduction to the concept of Fair Process, at the core of INSEAD's work with family businesses. Developing a sense of fairness is the critical goal of family business governance processes, including family meetings and councils, boards of directors and family constitutions.