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  • Pitcher Perfect: Visualizing Interactive Beer Profiles

    This fictional case introduces students to interactive presentations through the situation of a US craft beer company that is developing a new beer product. The case discusses an organizational push to incorporate technology to help drive decision-making throughout. It opens with a product manager who is starting to design a new beer flavor and feeling pressure from his boss to embrace the CEO's desire for interactive presentations. Having relied on static presentations previously, the manager searches for guidance to get started. This case is taught at Darden in a first-year MBA elective business communications course, "Storytelling with Data." It could also be used in a module on producing interactive presentations. The material can be taught in tandem with an introductory lesson in Tableau, Power BI, or some other interactive presentation program.
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  • Where's the (Sustainable) Beef? McDonald's Quest

    In 2006, the Food and Agriculture Organization of the United Nations (FAO) published "Livestock's Long Shadow: Environmental Issues and Options," which, among other things, detailed the connection between livestock agriculture, particularly beef, and its adverse impact on the environment, including land, soil, and water degradation as well as the reduction of biodiversity. Raising livestock contributed, globally, to 18% of the world's greenhouse gas emissions. The report presented a problem for McDonald's, one of the world's largest fast-food restaurant chains, which was one of the largest global purchasers of beef, at 500 million pounds annually. Bob Langert, McDonald's Vice-President of Sustainability, was tasked by the CEO to create a "bold, offensive strategy" in sustainability. Langert knew that for McDonald's to consider its operations truly sustainable, it should begin to look beyond fixing incremental problems within its current system and instead consider transforming the beef system itself. Because of its global reach and international scale, McDonald's was ideally situated to lead the US beef industry to explore more sustainable practices. The company already had a track record of sustainable transformation in waste, packaging, and recycling. However, Langert knew it would not be an easy task, since there would be many environmental organizations as well as the National Beef and Cattlemen's Association that would be scrutinizing McDonald's efforts. Langert and his colleagues would need to navigate the large cast of characters-internal and external, both individuals and organizations-in their efforts to address the issues around livestock agriculture and sustainability.
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  • Daniel Defense: Responding to the Shooting at the Robb Elementary School in Uvalde, TX

    At 11:33am on May 24, 2022, an 18-year-old man from Uvalde, Texas walked into the Robb Elementary School carrying a semi-automatic "AR-15-style" rifle manufactured by Daniel Defense and killed 19 children and two adults. Three days later, Representative Carolyn Maloney (D-NY), Chair of the House Oversight Committee, sent a letter to Marty Daniel, the CEO of Daniel Defense, requesting information for a Congressional hearing to be held on June 8. Daniel must now respond to the request for information on his firm's marketing practices, gun sales, and profitability; prepare for Congressional testimony; and decide whether to change any of his company's business practices (e.g., the products it sold and the way it marketed them). Daniel also had to decide whether to support new calls for gun control legislation or continue resisting all attempts to restrict Second Amendment rights to gun ownership. At a higher level, this case explores the legal, ethical, and moral responsibilities companies have, if any, for the criminal misuse of their legally manufactured and legally sold products.
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  • Use Your Ambivalence to Make More Ethical Decisions

    Being conscious of ambivalence and conflicting feelings of positive and negative emotions has great value: It helps decision makers suspend initial judgments, deflect biases, and integrate contradictory material. Recent studies have found that when people are aware of being ambivalent and understand the cause, they're spurred to consciously assess the moral aspects of their choices and are better able to resist distracting biases.
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  • Three Ways Companies Are Getting Ethics Wrong

    Business ethics has become too complex and is undermining the ability of companies to meet the ethical expectations of stakeholders. Simpler is better. Leaders need to stop outsourcing ethics and explain their company's value propositions in a clear, concise, nontechnical sentence or two that their least sophisticated stakeholder can understand. And they need to resist making big bets on visions for future social change instead of being transparent around current sources of profitability.
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  • JUUL and the Vaping Revolution: A 2022 Update

    This case provides a brief update (2019-2022) on the rise and fall of JUUL Labs, the maker of the popular JUUL e-cigarette.
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  • Kingold Jewelry's USD3.2bn Counterfeit Gold Scandal

    Kingold Jewelry, Inc. (NASDAQ: KGJI), was one of mainland China's largest gold processors and gold jewelry manufacturers. In 2002, Jia Zhihong, chairman and CEO, founded the company, which was based in Wuhan, Hubei Province. In August 2010, it was listed on NASDAQ using "backdoor listing." It sold gold jewelry, ornaments, and investment-oriented products. Between 2015 and 2020 Jia decided to increase Kingold's reliance on gold as collateral to obtain loans at around CNY20.6bn (USD3.2bn) from 14 Chinese commercial banks and trusts across different provinces, including China Minsheng Trust Co. Ltd., Hengfeng Bank, and Dongguan Trust Co. Ltd. The 83 tonnes gold bars were largely secured physically in bank vaults after independent testing institutions certified them and insurance companies examined them; other financial institutions did not have access to the gold bars. In late 2019, Kingold defaulted on a loan repayment to Dongguan Trust and in February 2020, the bank demanded to liquidate the collateral and discovered the fraud. In June 2020 a Beijing-based financial news outlet, Caixin, published a story about Kingold's counterfeit gold scandal that was initiated by Dongguan Trust and other defaulted loan cases. On 11 August 2020, Kingold filed for voluntary delisting from NASDAQ without filing its overdue financial reports. On 26 August 2021, the Wuhan court began to press charges against Jia and Kingold and detained Jia and other personnel. How could Kingold's corporate governance be improved to disallow such a situation and protect lenders and investors? How could lenders reduce their credit risk in accepting gold bars as collateral when they could not fully rely on their clients, independent testing companies, and insurance companies? Do you consider US regulators' listing and other regulations were adequate for foreign companies? Did Friedman LLP as auditors make a best effort to examine Kingold's assets and present its client's financial information fairly.
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  • Conflict Minerals: Influencing the Supply Chain for Public Purpose, Postscript

    Gold, tungsten, tantalum, and tin are essential to a wide array of today's products. Industries ranging from electronics to health care to defense rely on these minerals. A sizable portion of these minerals are sourced from Democratic Republic of the Congo (DRC) where funds raised from mining these minerals have fueled a decades-long civil war. Thus these minerals from the DRC are referred to as "conflict minerals." Global supply chains have been designed to use DRC sources based on economics and logistics; although, there are alternative sources. Some U.S. policymakers sought limit the conflict in the DRC by reducing the flow of conflict minerals. Initial Congressional action was unsuccessful; however the policy was incorporated into section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in 2010. The legislation required the Securities and Exchange Commission (SEC) to establish a reporting requirement for publicly traded corporations using conflict minerals in their supply chains. These corporations could also certify their supply chains as DRC conflict-free through an independent private sector audit. The primary focus of the case is on how supply chains can be modified by public policies to achieve desired social outcomes. The case can also be used to teach the policymaking process.
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  • Conflict Minerals: Influencing the Supply Chain for Public Purpose

    Gold, tungsten, tantalum, and tin are essential to a wide array of today's products. Industries ranging from electronics to health care to defense rely on these minerals. A sizable portion of these minerals are sourced from Democratic Republic of the Congo (DRC) where funds raised from mining these minerals have fueled a decades-long civil war. Thus these minerals from the DRC are referred to as "conflict minerals." Global supply chains have been designed to use DRC sources based on economics and logistics; although, there are alternative sources. Some U.S. policymakers sought limit the conflict in the DRC by reducing the flow of conflict minerals. Initial Congressional action was unsuccessful; however the policy was incorporated into section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in 2010. The legislation required the Securities and Exchange Commission (SEC) to establish a reporting requirement for publicly traded corporations using conflict minerals in their supply chains. These corporations could also certify their supply chains as DRC conflict-free through an independent private sector audit. The primary focus of the case is on how supply chains can be modified by public policies to achieve desired social outcomes. The case can also be used to teach the policymaking process.
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  • Dynastic Control of Suzuki Motor

    The case study is about the Japanese carmaker Suzuki. The 100-year company was founded at the peak of Japan's silk-production industry in the early 20th century. Michio Suzuki (1887-1982), a gifted inventor, started tinkering with weaving looms and in 1920 founded the Suzuki Loom Manufacturing Company in the coastal village of Hamamatsu. The case is an example of dynastic control - where the family control its strategic direction but own an insignificant number of shares - as well as an illustration of the role played by adult adoption in family businesses in Japan. When adopted son-in-law Osamu Suzuki retired in 2021 and his son took over as chairman, it was the first time the top job had gone to a natural heir since 1957, when the founder retired. The narrative follows the transformation of the small car company into a global player via a partnership strategy. Osamu was able to expand sales in North America following a tie-up with GM in 1981 (that lasted until 2008). Even more significant was his decision to enter the Indian car market in partnership with Maruti, a poorly performing state-owned carmaker, which would ultimately make Maruti Suzuki the biggest brand in India.
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  • TECO: Too Old to Rule or Too Young to Succeed

    The case is an example of how a family can control a large conglomerate - TECO Electric & Machinery, a Taiwanese engineering business - yet with almost no ownership stake. Founded by five prominent business families in 1956, TECO has been run by Mao-Hsiung "Theodore" Huang for the past 50 years, the son in law of the former CEO and co-founder, who married into the dominant founding family and rose up the ranks. Theodore's eldest son, Eugene, is impatient take over the reins. However, he makes a discovery just before the Annual General Meeting in 2021 and reaches the conclusion that at 83, his father simply does not want his son to take over the leadership, and will control the company from behind the scenes via non-family professionals he has installed in the executive suite. The case highlights a dilemma facing many Asian family-owned companies dominated by octogenarians who don't know how to retire gracefully. It also addresses some of the ambiguities of bringing in non-family professionals when perhaps the ulterior motive is to avoid a change of leadership.
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  • Gender and Negotiation: Review of Research and Implications for Practitioners

    This technical note addresses when and how gender is relevant in a negotiation setting. It provides an up-to-date summary of existing research as well as advice for practitioners (particularly those identifying and/or presenting as women) as they navigate their careers. This note can be used in general negotiation courses (undergraduate, MBA, or executive education) or in programming specific to women in leadership. It is currently used in the Darden Executive Education program "Women in Leadership."
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  • Qinheyuan: Redefining Elderly Care

    This case describes how Qinheyuan Group Co., Ltd. (hereinafter "Qinheyuan") created shared value by solving pain points associated with traditional elderly care. In addition to providing elderly care services, Qinheyuan also sought to address the psychological needs of senior citizens-specifically, to give them a sense of self-worth by making them feel needed or able to help others. In the late 2000s, Qinheyuan pioneered an upscale, membership-based elderly care model that sought to give the elderly sufficient freedom and respect while engaging them in creating and sharing value. This model was implemented in its two retirement communities, namely Kangqiao Apartments (dubbed "Version 1.0", with a 95% occupancy rate) and Yingfeng Apartments ("Version 2.0", with a 90% occupancy rate). The company's founder Xi Zhiyong subsequently decided to develop an improved version of the company's elderly care model (dubbed "Version 3.0"). This coincided with claims by parent company Yihua Healthcare that Qinheyuan had failed to meet its performance targets for 2019. As a result, Yihua Healthcare demanded compensation of ¥81.7 million and required Qinheyuan to ramp up efforts to market its existing apartments. Despite these pressures, Xi insisted that Qinheyuan should continue to work on its new model. Could Xi turn a blind eye to the demands of Qinheyuan's parent company, and if not, could he find a compromise?
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  • Mexico City's Hoy No Circula: Restricting Car Travel to Abate Air Pollution (B)

    The rapid, sprawling growth of the Mexico City megalopolis-combined with industrialization, a fast-expanding fleet of gas-fueled vehicles, and a location vulnerable to deadly thermal inversions-led to a serious air pollution crisis in the city in the mid 1980s. Having neglected air quality for many years, government officials prioritized it in the mid 1980s, attacking poor air quality with some energy and a five-year package of reforms to address the problem from different angles. They recognized, however, that most of these reforms would require several years, at least, to yield results. Eager to do something with more immediate impact-and keen, too, to signal to motorists the serious negative consequences of driving-they decided to add a driving restriction program to their package: the Hoy No Circula ("No Driving Today") program. This policy required all private car owners to refrain from driving one workday per week, based on the last digit of their vehicle's license plate. The simplicity of the approach was its selling point. It could be implemented almost at once at very little cost, and, policymakers reasoned, should result in an immediate 20 percent reduction in traffic, Monday through Friday. In fact, the idea was so appealing that many other developing countries followed Mexico's lead, enacting their own versions of Hoy No Circula in the years that followed. In this two-parter, the A case introduces Mexico City's air pollution problem at the time, and provides the rationale for enacting Hoy No Circula. The B case explains what happened once the policy was enacted, and how policymakers responded to some of its unforeseen consequences.
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  • Mexico City's Hoy No Circula: Restricting Car Travel to Abate Air Pollution (A)

    The rapid, sprawling growth of the Mexico City megalopolis-combined with industrialization, a fast-expanding fleet of gas-fueled vehicles, and a location vulnerable to deadly thermal inversions-led to a serious air pollution crisis in the city in the mid 1980s. Having neglected air quality for many years, government officials prioritized it in the mid 1980s, attacking poor air quality with some energy and a five-year package of reforms to address the problem from different angles. They recognized, however, that most of these reforms would require several years, at least, to yield results. Eager to do something with more immediate impact-and keen, too, to signal to motorists the serious negative consequences of driving-they decided to add a driving restriction program to their package: the Hoy No Circula ("No Driving Today") program. This policy required all private car owners to refrain from driving one workday per week, based on the last digit of their vehicle's license plate. The simplicity of the approach was its selling point. It could be implemented almost at once at very little cost, and, policymakers reasoned, should result in an immediate 20 percent reduction in traffic, Monday through Friday. In fact, the idea was so appealing that many other developing countries followed Mexico's lead, enacting their own versions of Hoy No Circula in the years that followed. In this two-parter, the A case introduces Mexico City's air pollution problem at the time, and provides the rationale for enacting Hoy No Circula. The B case explains what happened once the policy was enacted, and how policymakers responded to some of its unforeseen consequences.
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  • Vitana: Choosing Partners

    This case study examines the founding of Vitana, a dentistry-focused search fund founded by Ashish Bagai, Monika Srivastava, and Amir Fardshi. In this case, students are encouraged to explore the advantages and disadvantages of being solo founders versus having founding partners. The case also delves into the frameworks used to identify attributes, skills and criteria for evaluating prospective co-founders. Additionally, the case examines the potential risks of starting a new venture with friends and family, and strategies for mitigating those risks. Furthermore, students are encouraged to explore the complexities and issues of governance that may arise in a three-person founding team.
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  • Canature's Sustainable Development: Explorations and Practices

    This case describes how Canature, whose main business is water filtration, spent like crazy to build a Zero Liquid Discharge (ZLD) system, turning its substandard wastewater discharge to zero discharge and even "negative discharge" since 2013. The ZLD system helped create a better campus environment while providing a basis for Canature to launch an industrial tourism program. When implementing the tourism program, Canature never advertised or marketed its products. Instead, it disseminated health-related concepts. Over time, Canature has initiated multiple extension activities to expand its industrial tourism program. After some shifts in the management team, Qu Yaming, who is son of the founder Qu Jianguo, took over the business and started redefining Canature's development path. Canature's water filtration business is booming overseas, increasing its sales revenue and profit significantly. Content as he is, Qu Yaming is wondering whether to generate ¥50 million in annual revenue from industrial tourism, the business that Canature prides itself on. He is thinking carefully if the effort is worthwhile and if so, how Canature should position its industrial tourism program.
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  • Walking the IPO Catwalk: Rent the Runway's Public Offering

    This case examines Rent the Runway (RTR), a company that provided its customers the luxury of getting to wear the hottest designer fashions without having to pay the often exorbitant price to own the clothing. RTR built the world's largest shared designer closet, containing over 18,000 styles by more than 750 designer brands. Customers could rent individual pieces, buy products through resale offerings, or pay for a subscription guaranteeing new deliveries monthly. RTR went public with an initial public offering (IPO) on October 26, 2021. While some investors were initially excited about the first company with an all-female board and all-female leadership team to go public, RTR's unicorn status was not enough to guarantee success. RTR had decided to go public to fuel its expansion plan as well as pay off debt, but things didn't go smoothly after the IPO, and the company suffered from bad press related to its unexplained financial reporting. The case, appropriate for finance, leadership communication, and general management courses, encourages students to consider communication strategies employed by firms going public and digs into several specific issues such as depreciation of assets. Though the case focuses on the struggles of the company focused on a public offering to generate capital, it also provides a variety of other discussion topics such as the purpose of an IPO, the right time for a company to go public, and how to tackle the scrutiny of investors in a newly public company. It pairs well with a technical note, ""All Things IPO"" (UVA-BC-0282), which unpacks the process of an IPO, including the internal and external factors companies need to weigh before taking the step.
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  • All Things IPO

    The decision to go public is a very complex process for a growing business. From completing the requirements of the US Securities and Exchange Commission (SEC) filings to answering complicated questions from potential investors, it is a major decision and an inflection point in the journey of a private company. Yet, the benefits often outweigh these downsides and cofounders are usually excited by the prospect of an initial public offering (IPO). This technical note aims to unpack the process of IPO, including the internal and external factors companies need to judge when considering taking the step.
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  • GCL-Poly: Non-compliance of the Listing Rules and Lack of Internal Control

    In 2021, when GCL-Poly Energy Holdings Limited was the second largest global polysilicon manufacturer. It made and sold polysilicon in mainland China used in the production of solar energy equipment. In September 2019, GCL-Poly's wholly-owned and major subsidiary, Jiangsu Zhongneng Polysilicon was engaged in an engineering, procurement and construction contract (EPC Contract) valued at CNY1.9bn (USD0.3bn). The EPC Contract involved a granular silicon project and engaged a state-owned enterprise (SOE) lead contractor and a subcontractor. But the majority of the holding company's directors claimed they were unaware of this EPC Contract and the contract sum, and they did not announce it to the public and the Stock Exchange of Hong Kong (SEHK). The company's former auditors, Deloitte, raised concerns on the commercial rationale of the EPC Contract, including the validity of the prepayment of CNY510m (USD79.8m) made to the lead contractor. Due to outstanding audit issues and resignation of Deloitte, the company did not release its annual results for year-end 31 December 2020 by the 31 March 2021 deadline. On 1 April 2021, the company's shares were suspended from trading. After the company terminated the EPC contract, on 26 April 2021, the company received a refund from the lead contractor at CNY495.28m (USD77.5m) for the prepayment. The EPC Contract and the prepayment were approved by Jiang Wenwu, the former ED of GCL-Poly's holding company and GM of Jiangsu Zhongneng. According to Jiangsu Zhongneng's relevant internal policy, Jiang also breached the company's internal policy. At the end of October 2021, the SEHK accepted GCL-Poly forensic accountant's report, internal control recommendation, and the new auditor's financial results. The company's shares resumed trading and SEHK and other regulatory bodies did not take disciplinary action towards the company.
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