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Steve Maiden (A): A Hedge Fund Manager's Fall from Grace
In mid-2008, hedge fund manager Steve Maiden was riding high. The self-assured Maiden had launched his own fund in late 2006 and it was substantially outperforming the market. Investors wanted in, and Maiden's personal wealth exceeded even his own lofty expectations. But then things began to fall apart. The global financial crisis hit and several of Maiden's large investments were imploding. His efforts to capture some value hinged on reaching an agreement with several partners. To buy time until an agreement could be reached, Maiden began to falsify his fund's returns to investors. He continued to do this for over two years. In May 2013, Maiden pleaded guilty to securities fraud and was given a seven-year prison sentence, leaving behind his wife and two young children. The Steve Maiden case series (consisting of UVA-OB-1437, UVA-OB-1438, and UVA-OB-1439) provides an inside look at the rise, demise, and resurrection of an ambitious young man whose profile is not unlike that of many MBA students. It gives students a unique opportunity to witness events as they unfolded, and read Maiden's own words about his thoughts and feelings as things unraveled, as well as his candid reflections on what he learned from the experience. -
Steve Maiden (B): A Hedge Fund Manager Hits Rock Bottom
In mid-2008, hedge fund manager Steve Maiden was riding high. The self-assured Maiden had launched his own fund in late 2006 and it was substantially outperforming the market. Investors wanted in, and Maiden's personal wealth exceeded even his own lofty expectations. But then things began to fall apart. The global financial crisis hit and several of Maiden's large investments were imploding. His efforts to capture some value hinged on reaching an agreement with several partners. To buy time until an agreement could be reached, Maiden began to falsify his fund's returns to investors. He continued to do this for over two years. In May 2013, Maiden pleaded guilty to securities fraud and was given a seven-year prison sentence, leaving behind his wife and two young children. The Steve Maiden case series (consisting of UVA-OB-1437, UVA-OB-1438, and UVA-OB-1439) provides an inside look at the rise, demise, and resurrection of an ambitious young man whose profile is not unlike that of many MBA students. It gives students a unique opportunity to witness events as they unfolded, and read Maiden's own words about his thoughts and feelings as things unraveled, as well as his candid reflections on what he learned from the experience. -
Steve Maiden (C): A Hedge Fund Manager Writes a New Life
In mid-2008, hedge fund manager Steve Maiden was riding high. The self-assured Maiden had launched his own fund in late 2006 and it was substantially outperforming the market. Investors wanted in, and Maiden's personal wealth exceeded even his own lofty expectations. But then things began to fall apart. The global financial crisis hit and several of Maiden's large investments were imploding. His efforts to capture some value hinged on reaching an agreement with several partners. To buy time until an agreement could be reached, Maiden began to falsify his fund's returns to investors. He continued to do this for over two years. In May 2013, Maiden pleaded guilty to securities fraud and was given a seven-year prison sentence, leaving behind his wife and two young children. The Steve Maiden case series (consisting of UVA-OB-1437, UVA-OB-1438, and UVA-OB-1439) provides an inside look at the rise, demise, and resurrection of an ambitious young man whose profile is not unlike that of many MBA students. It gives students a unique opportunity to witness events as they unfolded, and read Maiden's own words about his thoughts and feelings as things unraveled, as well as his candid reflections on what he learned from the experience. -
Arla Foods: Data-Driven Decarbonization (A)
Arla implemented a data based price incentive systems to measure, track, and influence climate friendly changes to reduce CO2 emissions across the world's fourth largest dairy cooperative. -
Arla Foods: Data-Driven Decarbonization (A), Spreadsheet Supplement
Supplement to 624003. -
Arla Foods: Data-Driven Decarbonization (B)
The case describes Arla's history, in particular its climate change mitigation efforts, and how it implemented a price incentive system to motivate individual farms to implement scope 1 greenhouse gas emissions mitigation measures and receive a higher milk price. The case, and its data supplement, highlight Arla's use of a data score card and regression analysis model to track CO2 emissions across dairy farms in multiple European countries. -
SeaCloud Real Estate: Performance Management
This case describes how SeaCloud, a real estate company founded in 1999, redesigned its performance management system in an attempt to achieve the strategic goal of improving efficiency at a time when many Chinese real estate enterprises doubled down on their strategies to undertake projects with short turnaround times. In December 2018, Ling Yun, the Founder and CEO of SeaCloud, discovered that a major project under development by the company was significantly behind schedule, despite most employees meeting their performance goals. It was then he realized that there were problems with the company's existing performance management system, and he asked the HR Director, Liu Min, to undertake a full review and redesign the performance management system. The new performance management system needed to address a number of issues, including (i) there was no direct link between mid-level and junior employees' performance appraisal results and salary increases; (ii) neither was there a link between corporate strategy and the performance criteria used to evaluate staff performance; (iii) senior executives were appraised annually, limiting the ability to take more timely corrective measures and actions; and (iv) cross-departmental collaboration was not effective. Under the new system, mid-level and junior employees' performance bonuses were based on and determined by both individual and departmental evaluation outcomes. In addition to job responsibilities, key performance indicators (KPIs) and key work processes were established by managers and used to evaluate staff performance. Senior executives were now appraised on a quarterly rather than annual basis. The results of 360-degree feedback were also taken into consideration when assessing staff promotion. To enhance cross-departmental cooperation, employees from different departments would also be jointly evaluated. -
Katchia Gethers: In the Business of Getting Better
This field-based case uses the challenges an elementary school principal encountered during her first year as a seasoned professional in an underperforming school to set the stage for unfolding a framework on cultures, situations, and selves. The material also reveals elements of burnout, racism, and interpersonal and structural problems. The case allows an exploration of managers unconsciously placing greater expectations on high-performing women employees of color. The case opens with Katchia Gethers, a Black female principal of the second-largest school district in South Carolina, questioning whether to continue or leave. Pushback from some inside the school, critiques from individuals who want to keep Gethers in line with their views, and anonymous online attacks have left her questioning her own leadership. But Gethers has made a difference-the underperforming school showed signs of academic improvement. A strong circle of supporters among those she reports to and those who report to her encourage her to continue. This case would be suitable for MBA and undergraduate courses in organizational behavior or ethics. It could be used at the end of the module about developing self-awareness or about belonging and inclusion. This case can also be used to teach students about managing stakeholders with different interests and goals. The material touches on everything to which effective managers should pay closer attention throughout their careers. -
Toby Norman: Is Passion Enough for Simprints to Thrive?
As co-founder and CEO of Simprints-a social enterprise with the mission to "transform the way the world fights poverty"-Toby Norman was at a crossroads. His organization had developed ground-breaking technology used to verify aid delivery, reached more than 2.5 million people in 17 different countries, and received widespread accolades in the global health community. Having initially exclusively focused on partnerships with like-minded NGOs, Simprints attracted highly passionate employees willing to make sacrifices in service of the organization's mission. To scale its impact, Norman had recently decided that Simprints begin working with governments, a move many employees disagreed with, leading nearly half of the organization's workforce to quit. Despite initial success with its new strategic path, Norman wondered how central passion should be to the future direction of the organization. Should Simprints cast passion aside entirely and focus on bringing its technology to as many people as possible, including in areas beyond international development? Should Norman find a way to re-center passion, perhaps by making its technology open-source in an effort to sidestep discussions of who Simprints should be used by? How else could Simprints keep its employees motivated to fulfill its mission? -
Stay or Go? Sarah Reynolds at Kensington Partners
Sarah Reynolds, a Partner at the global Kensington Partners strategy consulting firm, has headed the firm's Telecommunications Group for a few years. Thanks to her stellar track record with clients, she has brought the group, and herself, a range of accolades and recognition. Amid this success, she faces a handful of challenges: a new hybrid work paradigm within client services, mentoring the Vice Presidents and Associates within her group, integrating and utilizing new technical staffs into her existing practice, and more, all while maintaining the same level of results that brought her such responsibilities in the first place. With seemingly not enough hours in the day to tackle everything, Reynolds faces difficult tradeoffs for what to prioritize moving forward. -
Washington Avenue: Road Diet or Road Buffet? (A)
In this field-based case, the City of Philadelphia's Office of Transportation, Infrastructure, and Sustainability is deciding how best to improve safety and move more people and goods in a way that would provide economic opportunities on a major corridor. The problem-solving opportunities in the city's repaving process set the stage for an exploration of creative problem-solving and introduction of the concept of subtraction neglect. The case opens with the director of the Office of Complete Streets thinking about all the options for the major corridor and considering tensions around how each stakeholder might perceive change on Washington Avenue. The director's team engages with numerous city departments, businesses, and community members for input around potential changes that would culminate in proposed lane reconfiguration options to present publicly. The team starts going through the transportation planners' toolbox of what is possible: What are the priorities? What will each cost? Will they be easily incorporated into the paving project? And if the team had play money to put toward the different improvements, where would it put it? This case is suitable for MBA and undergraduate organizational behavior or strategy courses. It could be used at the end of the module about problem-solving, making change, and removing complexity. This case can also be used to teach students about managing stakeholders with different interests and goals. Firms across industries seek managers with skill in problem-solving, and as such, this case could also be used in a broader introductory organizational behavior, innovation, design-thinking, creativity, human resources, or strategy course. -
Washington Avenue: Road Diet or Road Buffet? (B)
In this field-based case set, the City of Philadelphia's Office of Transportation, Infrastructure, and Sustainability is deciding how best to improve safety and move more people and goods in a way that would provide economic opportunities on a major corridor. The problem-solving opportunities in the city's repaving process set the stage for an exploration of creative problem-solving and introduction of the concept of subtraction neglect. The A case opens with the director of the Office of Complete Streets thinking about all the options for the major corridor and considering tensions around how each stakeholder might perceive change on Washington Avenue. The director's team engages with numerous city departments, businesses, and community members for input around potential changes that would culminate in proposed lane reconfiguration options to present publicly. The team starts going through the transportation planners' toolbox of what is possible: What are the priorities? What will each cost? Will they be easily incorporated into the paving project? And if the team had play money to put toward the different improvements, where would it put it? This B case includes relevant images. This set is suitable for MBA and undergraduate organizational behavior or strategy courses. It could be used at the end of the module about problem-solving, making change, and removing complexity. This case can also be used to teach students about managing stakeholders with different interests and goals. Firms across industries seek managers with skill in problem-solving, and as such, this case could also be used in a broader introductory organizational behavior, innovation, design-thinking, creativity, human resources, or strategy course. -
Stress in the Workplace: Mental Health Conversations-The Boss
Most managers will one day be in a situation where they must help another employee with a mental health issue. How should they prepare for these conversations? What resources are available? This role-play case duo sets up a discussion on mental health-specifically, depression and anxiety-between an employee and their manager in a US context. Students will be assigned either the role of the boss or the direct report, and will be asked to navigate a difficult conversation around mental ill health and performance at work. The material allows students to learn about the various policies and laws that govern these discussions and the typical workplace resources that may or may not be available, and to practice having these tricky conversations. This case set may not be appropriate or useful for audiences with several employees who work or plan to work outside of the United States because mental health symptom presentations, norms surrounding mental health discussions, and mental health resources in other countries differ significantly from what is discussed in this case set. -
Stress in the Workplace: Mental Health Conversations-The Employee
Most managers will one day be in a situation where they must help another employee with a mental health issue. How should they prepare for these conversations? What resources are available? This role-play case duo sets up a discussion on mental health-specifically, depression and anxiety-between an employee and their manager in a US context. Students will be assigned either the role of the boss or the direct report, and will be asked to navigate a difficult conversation around mental ill health and performance at work. The material allows students to learn about the various policies and laws that govern these discussions and the typical workplace resources that may or may not be available, and to practice having these tricky conversations. This case set may not be appropriate or useful for audiences with several employees who work or plan to work outside of the United States because mental health symptom presentations, norms surrounding mental health discussions, and mental health resources in other countries differ significantly from what is discussed in this case set. -
The Gift Card Swap: Speak Up or Let It Lie?
In this short vignette on ethics in consulting, Brenda Thompson, a new Associate at a prestigious consulting firm, learns that a fellow Associate is using the firm's meal expense benefits to pocket the difference between the maximum daily allowance and his actual amounts spent in the form of prepaid gift cards. Though this practice was not explicitly said to violate the policy, Brenda feels uneasy about the situation and must decide how to act on her ethical sensibilities. -
The Ethical Tightrope: When to Disclose the AI Shortcut
In this short vignette on ethics in consulting, John Child, a new Associate at a prestigious firm who is eager to impress, decides to use an AI tool to expedite his analysis and craft his presentation due to a short project timeframe. Feeling uneasy about his decision not to inform his team after a successful presentation, he must weigh the tradeoffs of providing late disclosure, whether partial or full, or continuing to withhold his decision from his team and client, and the ethical and career implications those decisions might carry. -
CEOs Can Make (or Break) an Organization Redesign
Full-on CEO engagement is needed for a successful organization redesign but many CEOs have difficulty maintaining that level of involvement. While the most effective CEOs keep their finger on the pulse of the redesign on an almost daily basis, from start to finish, leaders who lose control tend to have weaknesses such as half-heartedness, over-appeasement, indecisiveness, and incapacitation. The authors present a framework to help leaders recognize and overcome these vulnerabilities. -
The Psychology of Problem-Solving
This technical note introduces the concept of applying subtractive thinking to problem-solving. The essential work of almost any employee in an organization is to solve problems and make something better. And more often than not, the tendency is to add to what currently exists, not take something away. This note shares obstacles to the use of subtractive ideas for transformations and changes, as well as the advantages of removing complexity. It offers an overview of the problem-solving process, from mental representation of the initial situation, through brainstorming possible transformations, to conceiving of various goals. -
Toyota South Africa Motors: Flood Devastation and A Plant in Crisis (Part I)
On April 12, 2022, a devastating mudslide covered 87 hectares of the Toyota South Africa Motors factory located in Durban, South Africa. The company's president and chief executive officer was facing various immediate issues including mud flooding of the plant, employees stranded within the plant, growing concerns over electrical shorting and possible electrocution due to rising water levels, and the plant's closure in response to the flooding. As a result of the flooding, the plant had to shut down for five months, which deeply impacted the entire supply chain of original equipment manufacturers and dealers who depended on Toyota South Africa Motors for their sustainability. The consequences of a prolonged plant closure could affect multiple stakeholders, including 8,000 employees and the larger South African economy. Toyota South Africa Motors contributed approximately 130,000 Toyota vehicles per year for the local market and for global export. The company's president needed to contain the immediate crisis and work with Toyota South Africa Motors stakeholders to lead a substantial recovery from the disaster. -
Sustainability Progress Is Stalled at Most Companies
Despite widespread public commitments to integrate sustainability into business models, less than a third of U.S. employers engage in practices that support that objective, recent research shows. Many employees see a lack of commitment from management and short-term focus as key challenges. The authors share six practices observed at organizations that have made good progress at embedding sustainability into the business.