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Under the guidance and vision of founder Peter Munk, Barrick Gold Corporation had risen to become an industry leader and the world’s largest gold producer. The company had grown, mostly through mergers and acquisitions, from one single mine in Northern Ontario to 26 operating mines on five continents, with more than 20,000 employees worldwide. By 2013, however, weak gold prices, asset value writedowns and operational cost overruns have negatively affected the company’s stock price. Many attribute the company’s problems to Munk’s personality and his control over the board of directors. Munk has announced that he will retire in 2014 and will be replaced as chairman by his current co-chairman, John L. Thornton. How can Thornton effectively chair Barrick’s board in the wake of Munk’s legacy? Will his vision for the company conflict with Munk’s dream of turning it into an international diversified mining company? How much of a role will Munk play in the future given his level of informal power? Finally, what can Barrick do to lift itself out of an industry mired in volatility and financial uncertainty?

Bitcoin is part of a new wave of financial technology – or fintech – innovations. These innovations are disrupting the technical, highly regulated financial industry that has been dominated by large banks and other financial institutions.After three years of trading in relative obscurity, the emergence of bitcoin in 2013 as a viable cryptocurrency is promising both to open up new possibilities to entrepreneurs and incumbent firms and to pose challenges to regulators such as the U.S. Federal Reserve. Rising in value from just $0.05 in mid-2010 to over $1,000 by November 2013, bitcoin is to some people the 21st century version of Tulipmania and to others a viable alternative to fiat currencies. Bitcoin’s popularity has prompted the development of competing cryptocurrencies, the establishment of a foundation to promote its interests and the emergence of legitimate and grey market entrepreneurs looking to capitalize on the currency itself and its features. Its position as a currency concerns regulators around the world, and hackers have already exploited security gaps in service providers such as Mt. Gox, a bitcoin exchange platform, for their own benefit. Looking at recent developments, what will the future of bitcoin be?

In January 2013, the general manager of the Planning Division of the Bank of Maharashtra in Pune, India, is considering how best to analyze the performance of the bank’s 1,728 branches in 28 states and two union territories and its staff of nearly 14,000 people. Such a process would help develop a comprehensive yearly plan by setting realistic targets for each of the bank branches, which have a wide variety of operating conditions. With its market share falling and increasing competition from major players in both the private and public sectors, the bank must take proactive steps to develop a strategy for expansion. The general manager meets a business school graduate who suggests using performance evaluation and benchmarking tools that will not only help evaluate performance in terms of an efficiency score but also indicate possible potential improvements. Should the general manager trust that the young analyst can pinpoint why some branches are not meeting their targets and suggest how their performance can be improved, or should he hire a more experienced consultant?

Sudarshan Chemicals Industries is a top player in the Indian chemicals industry. This case traces the remodelling of its corporate social responsibility (CSR) initiative, both along scientific lines and aligned to its core business strategy. Faced with an informal and unstructured CSR initiative, the company uses an innovative method of problem-solving – crowd-sourcing ideas from a top business school in India. A team of students assesses the situation completely in order to make recommendations to the company’s top managers. The case details a process of scientific value-creation in CSR that can be adopted by companies as they make the transition from local to global.

EADS N.V. (EADS), Europe’s leading aerospace and defence company, is reviewing its strategic positioning. EADS had planned to merge with a British company to form the world’s largest aerospace company, but the merger failed mainly due to resistance from government shareholders. As a result, the firm cannot achieve its major strategic goals that were tied to the merger. In the highly competitive aerospace industry and despite also facing production issues and a corruption investigation, the firm’s management must revise both its short-term goals and future action plan.

Zeta Mining, one of the world's largest producers of metallurgical coal, operates a number of mines in the Bowen Basin, Central Queensland, Australia. The company has invested about AU$8 billion in the region. Before extracting the coal, the overburden of dirt, rock and other geological waste has to be removed, and this is usually done by draglines, which are imported from the United States and constructed on site, requiring a significant investment in time and money. In 2012, Zeta’s chief financial officer tasked the Bowen Basin project evaluation director to decide whether to walk one of the 3,400-tonne draglines six kilometres to another mine or to employ external contractors to remove that mine's overburden. To do so, the director was required to perform an incremental comparison analysis using net present value methodology. The CFO will then use the analysis and any other relevant factors in making a final decision.

For many qualified non-native English speakers, invisible barriers to high-level employment and to receiving funding for entrepreneurial ventures remain a fact of life. New research shows that this results from perceptions that accented speakers are lacking in political skills, and suggests actions individuals and companies can take to mitigate the problem.

In India and other large emerging economies, rural markets hold great promise for boosting corporate earnings. Companies that sell in the countryside, however, face poor infrastructure, widely dispersed customers, and other challenges. To better understand the obstacles and how to overcome them, the authors--researchers with Accenture--conducted extensive surveys and interviews with Indian business leaders in multiple industries. Their three-year study revealed several successful strategies for increasing revenues and profits in rural markets: (1) Start with a good distribution plan. The most effective approaches are multipronged--for example, adding extra layers to existing networks and engaging local partners to create new ones; (2) Mine data to identify prospective customers. Combining site visits, market surveys, and GIS mapping can help companies discover new buyers; (3) Forge tight bonds with channel partners. It pays to spend time and money helping distributors and retailers improve their operations; and (4) Create durable ties with customers. Companies can build loyalty by addressing customers' welfare and winning the trust of community leaders.

The target market of Citibank cards in India was aligned with the profitability objectives of the company. However, if it continued with its current strategy, it faced the risk of being a niche player in a growing market and losing the profit potential from other segments and geographies in the near future. The CEO needed to reconsider the target market and finalize a marketing strategy in the face of the changing composition of the marketplace, the competition and the commercial imperatives of the credit card business. This was a critical decision that would have a long-term impact on resource deployment and budgeting.

Ludhiana City Bus Service Limited (LCBSL) was created to improve the urban transportation system in the city of Ludhiana, India. As per the existing pricing strategy, bus fares (one of key revenue source for LCBSL) were set by the state government. LCBSL management was convinced that there was ample scope for raising the bus fares. The partial project implementation had been generating a return on capital of 1.9 per cent. To reduce this breakeven period and achieve targeted returns on capital of 4 per cent, management was considering the option to increase fares across different distance categories. Would this price restructuring be a game changer for LCBSL and a benchmark pricing strategy for other city bus service projects to follow?

The performance of Wonderla, the leader in the amusement park industry in South India, for the year 2011/12 could not be better. It grew at 30 per cent with more than one million customers visiting each of its two parks in Kochi and Bangalore. It also completed the development of a three-star hotel in its Bangalore park. Its growth is creating challenges that it has not faced before. The chief executive officer is concerned with the issue of prioritizing investment among its different businesses as the existing amusement parks are growing and new parks are being planned in two new locations. At the same time, effort is required to create demand for the hotel business. The concern extends beyond investment to examining the option of leveraging the brand Wonderla, which stands for “Fun,” to its hotel, with attendant implications for that business and for the brand and its image.

<p>This <a href="https://www.iveypublishing.ca/s/category/collection/international-business/0ZG5c000000k9be?c__results_layout_state=%7B%7D">International Business</a> case study explores how the profits of a generic-pharmaceutical company, Parkin Laboratories, are dwindling as a result of recent legislation implemented by the Indian government. To compensate for the loss in value, the company needs to increase its sales volumes.&nbsp;The&nbsp;general manager of sales is exploring the idea of investing in a program of sales force effectiveness to increase the efficacy of the sales team.&nbsp;</p>

The human resources department at China Sunwah Bank had to decide on 22 new appointments — only 12 of which were officially advertised — to Sunwah Bank’s 28 branches. More than 4,000 applications had been received and the final list of candidates based on merit had been reduced to 48. The department members had spent many hours reading applications and conducting interviews; however, some members had been coping with specific endorsements for certain applicants from government officials, friends, former teachers and bank managers in a system known as “guanxi,” which was based on a reciprocal exchange of favours that bound individuals together. The challenge was how to choose the most qualified and talented recruits for the new positions at Sunwah Bank, keeping in mind the guanxi-based requests for favours from important stakeholders and friends — including some who had granted significant favours to Sunwah Bank executives in the past. The choice would require sensitivity and cultural awareness. Who would the department hire and why?

In 1999, IBM India became a wholly owned subsidiary of IBM Corporation and established a presence in 14 cities across the country. True to its integrated philosophy of corporate citizenship, as the parent company expanded business operations to growth markets around the world, it rolled out citizenship initiatives in those markets. In 2011, IBM International Foundation awarded a grant of US$100,000 to IBM India for Smarter Villages, an India-specific project whose goal was to bring rural Indian villages to technological parity with cities by setting up supply chains and introducing micro financing and other services to create opportunities for an increase in farmer incomes. IBM India management hoped that, if successful, the project could be embedded in the organizational fabric of the global company and thus would reflect its own responsible leadership. The question was whether it would be possible to inculcate a spirit of stakeholder engagement and inspire volunteerism among the company’s young workforce.

<p style="color: rgb(197, 183, 131);"><strong> AWARD WINNER - PRODUCTION AND OPERATIONS MANAGEMENT CATEGORY - THE CASE CENTRE AWARDS AND COMPETITIONS</strong></p><br>An analyst for a money management firm is studying Apple Inc. as one of the firm’s key investments. In 2013, Apple had a market capitalization of nearly US$500 billion and sales of US$171 billion. According to the research firm, Gartner Group, it had the world’s best supply chain, ranking ahead of companies such as Walmart, Amazon and Inditex (Zara). As part of the analysis, a full review of Apple’s supply chain is required to look for insight into the future performance of the company in order to decide whether or not the analyst’s firm should continue to hold Apple shares.

In spring 2014, XiamenAir is the most profitable of the five largest airlines in China. With bases in Xiamen, Fuzhou and Hangzhou, its flight network covers major cities in China with international service to Macao, Taiwan, Hong Kong and other Southeast Asian countries. The company prides itself on its differentiation strategy: customer service, building a brand and reputation that its customers trust and providing a service for which its customers are willing to pay a premium price even when there are low cost/low price carriers available. Its management is contemplating buying six new Boeing Dreamliner wide-body aircraft that will allow the company to expand its market to Europe, Australia and western North America. Will this purchase enable Fujian Province to more quickly become established as the regional hub for Southeast Asia, Northeast Asia and cross-strait transportation? Will it help speed China’s push to internationalize its passenger airlines? In the face of growing competition from high-speed rail networks and both Chinese and international airlines, the management must decide how best to grow the company and maintain its profits.

The director of the Fundación Bringas Haghenback (FBH), a non-profit community service organization in Mexico City, was preparing to present alternative market strategies to the board of directors for the three senior citizen homes run by the foundation. She hired a consulting team to research the services and marketing of each home as well as the external environment. She knew the demographic shifts in the Mexican population projected a drastic need for senior living facilities but had not yet decided how to meet the need. She faced the challenge of compiling the information into a convincing recommendation.

Ideas Kitchen is a medium-sized kitchen maker that specializes in customizing the modular kitchen. As a result, it has built a loyal customer base. Business has been relatively good for Ideas Kitchen, and the company has been doing well financially. It has been capitalizing on the burgeoning growth of the modular kitchen market in India. However, several foreign players have begun entering the Indian market and almost all of them have been expanding at a rapid pace either through franchise models or by opening showrooms in a number of cities. The founder of Ideas Kitchen is in a dilemma about whether to stay a niche business or to take a bold step toward expanding product range and geographical reach.

Amway Korea Ltd. faces both motivations and challenges as it pursues enhancement of the firm's social responsibility in a multi-level marketing industry. This case asks students to consider whether the firm’s social participation can be an effective solution to gain legitimacy and enhance its reputation. Stakeholders and the general public have two different views about the firm’s attempts at corporate social responsibility: the window-dressing view (that the firm is making a distrustful attempt to deceive stakeholders) and the value-enhancement view (that the firm is making a genuine investment to improve its responsibility and stakeholder value). Students are also introduced to the concept of creating shared value, which Amway Korea adopts as a strategic initiative in its role as a corporate citizen.

Four managers at Jones Schilling, an Asia-based retailer, are preparing to coach their Gen Y employees on how they can better contribute to the firm’s performance. Each of these managers needs to coach an employee with distinct issues.