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Supplements the (A) case.

Supplements the (A) case.

Over seven years, the owner of a highly successful drive-through, take-out hamburger chain has built his business and knew that there was a tremendous potential for the idea. He was unsure whether to expand by opening additional company-operated stores (using retained earnings), or by establishing a franchise system. Two Excel spreadsheets are available; one for the student, product 7A94B008 and one for the instructor, product 5A94B08.

An entrepreneurial university student found himself contemplating several decisions that could drastically alter the operations of his summer business distributing household paper products and cleaning supplies in Montreal. These decisions included three ways to expand (enlarge the salesforce, target a new market and pursue a franchise program), and three ways to change the nature of the venture (launch an environmental line, distribute non-perishable foods and reduce delivery quantities). Underlying all of these was the possibility of selling the business and pursuing an opportunity with a multi-national corporation. Students have to evaluate the current strategy and operations and assess the viability of the proposed alternatives.

However popular comprehensive research and planning may be in some business arenas, they don't suit the fast-moving environment of start-ups. Entrepreneurs must move quickly or opportunity may no longer exist. Theirs is a world of ingenuity, spontaneity, and hustle. Profitable survival requires an edge derived from some combination of a creative idea and a superior capacity for execution. Research on more than 200 thriving ventures reveals four helpful guidelines for aspiring founders. First, effective entrepreneurs screen out unpromising ideas as early as possible, and they accomplish this through judgment and reflection, not gathering lots of data. Next, they assess realistically their financial situation, personal preferences, and goals for the venture. To conserve time and money, successful new founders also minimize the resources they devote to researching ideas. And, unlike managers in big corporations, entrepreneurs don't need all the answers to act.

This technical note shows how to structure a financing deal which meets the needs of the owners of a firm, existing suppliers of capital and proposed new suppliers of capital.

This case is about a small "outdoor-adventure" business at a crossroads. The business was originally founded by a man and a woman to serve the counseling and team-building needs of local schools and hospitals. Its discovery by corporate clients presents a "big-business" opportunity. The protagonists, however, are not sure they want to leave the realm of part-time "fun" and enter the realm of potentially lucrative full-time business.

The son of the founder and owner of Blackshop Bistro (and an employee) had to decide how to respond to his father's suggestion that the family business relocate to a new commercial building nearby. The fine-dining restaurant had enjoyed great success; however, to achieve its growth objectives and offer the founder's sons an opportunity, the business must seek alternatives to expand sales. Expansion may ultimately threaten the Bistro's current strategy and target market. In addition, the move would require significant financial, marketing, and operational changes.

Provides students with a workable framework for analyzing new ventures. Stresses the importance of matching analytical tasks to the type of venture contemplated.

An entrepreneurial division within Corning, Serengeti Eyewear, has grown rapidly in its brief 10-year history. Now it must decide whether to launch a new line of sunglasses and take on the industry leader. The company has prospered by developing and cultivating relationships with suppliers, customers, employees, and retailers. Its leader, Zaki Mystafa, has created a remarkable, flexible, and responsive organization. The case describes Mystafas's highly informal managerial style, and his skill at managing "up" to his superiors at Corning.

Cross River makes and sells an innovative, folding baby stroller to the U.S. market. The company has broken even in its first year, selling mainly to small retailers. CEO Deaver Brown urgently wants to expand distribution to national chains and has secured appointments with the buyers of Macy's and K-Mart. What pitch should he make?

Following a store expansion in 1993, a small general merchandise retailer has not realized the expected growth in sales volume, and is now, in fact, losing money. He is evaluating his product offerings, service levels, hours, inventory, and pricing, and is trying to decide what he should do next.

Covers the firm's growth from 1956 to 1966. May be used with McKinsey & Co. (A)--1956.

Focuses on the efforts of a small company to raise funds in a variety of ways. In the course of its efforts to raise equity capital, the company commits a number of SEC violations. The case includes an example of both a poor, aggressive offering circular and a tightly drawn, conservative circular. A rewritten version of an earlier case.

Two equal partners arrange a sealed bid auction to decide which one buys out the other's interest in a lighting fixture company started by their fathers. After 25 years together, they had developed irreconcilable differences over how to manage the company. A rewritten version of an earlier case.

Focuses on two individuals' attempts to purchase Clarion Optical Co. Forces students to consider alternative proposals for financing the purchase; generate pro forma cash flows to assess the feasibility of these proposals; estimate the sources and magnitude of financial return to each of the involved parties; and assess the advantages and disadvantages of the proposals. A rewritten version of an earlier case.

Two professional women are contemplating a business venture. They must assess the nature of the opportunity, what options it opens if they are to pursue the venture, and how they might finance the new business. A rewritten version of an earlier case.

Describes the aftermath of the (A) case. Describes the actions taken and the possible consequences for the company and its principals. Also describes the principals' attitudes at this point. A rewritten version of an earlier case.

Shows the final ending of the situation. A rewritten version of an earlier case.

Mark Ain is the founder and manager of Kronos, which has grown to a $33 million dollar company in 13 years. The case focuses on Ain's role in the company. Presents data from a personality assessment of Ain and his senior management team as input to this decision.