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Paytm was India’s first digital wallet service provider. It revolutionized the country’s digital payments landscape, but it was slow to adopt Unified Payments Interface (UPI) payments. The entry of WhatsApp into the digital payments industry on November 6, 2020 intensified the competition in the UPI segment of the market that Google Pay and PhonePe already dominated by focusing on person-to-person (P2P) transactions. With a strong 400-million user base, WhatsApp threatened to be a formidable competitor in the P2P segment. Paytm was in third position in the UPI-based payments market, but maintained a firm hold on the person-to merchant (P2M) segment. Should Paytm continue to focus on that segment or should it expand to P2P, which was a larger market with big competitors?

In August 2021, Singapore Airlines Group (SIA) was at a critical juncture in its history. Since early 2020, the COVID-19 pandemic had forced commercial travel to almost a standstill, requiring SIA to idle most of its fleet. The group’s overall revenues had declined by 76 per cent in the 2020/21 financial year, resulting in a loss of S$4.27 billion. The massive cash bleed forced the group to issue new capital, thus diluting the stake of its existing shareholders. Although SIA’s results had improved for the quarter ended June 30, 2021, the emergence of new virus variants and continued travel restrictions meant that the group needed to make critical decisions that would have implications for both its short-term survival and its long-term performance.

After Wirecard AG (Wirecard) collapsed in 2020, the financial technology (fintech) company, revealed as an elaborate fraud, came to be known as Germany’s Enron as investigators confirmed many of the concerns that had been raised by whistle-blowers and journalists. For instance, they confirmed that the company was using round-tripping to inflate revenues and that escrow accounts in Southeast Asia did not exist. Auditors had raised concerns for years, but then signed off on the company’s financial statements. What were the responsibilities of regulators and auditors with regard to the company, and what red flags should they have paid attention to?

By January 2022, approximately 100 employees from Microsoft Corporation’s (Microsoft) HoloLens division, which had pioneered augmented reality (AR), quit. Most joined Meta Platforms Inc. (formerly Facebook), despite the company’s recent controversies. Meta was seeking talent for metaverse technology that required AR and virtual reality (VR) expertise. Metaverse talent was scant industry wide. Meta offered double salaries to poach talent from Microsoft, its partner for different projects. The executives leaving Microsoft were key employees of the HoloLens division. Microsoft’s choice to not hire more engineers after the US Army contract led employees to question Microsoft’s commitment toward HoloLens, a part of metaverse technology. However, Satya Nadella, chief executive officer of Microsoft, confirmed Microsoft’s commitment toward metaverse technology, though some employees disagreed. What could Nadella do to retain HoloLens employees? With an increasing demand for metaverse-related skills, how could Nadella attract more talent? Was Meta’s employee poaching likely to bring any good news for Microsoft?

<p align="justify">When vaccines became widely available in 2021, Dr. Bonnie Henry—the provincial health officer of British Columbia (BC)—was tasked with the monumental mission of immunizing all BC residents against the COVID-19 pandemic. By November 19, 2021, almost 91 per cent of eligible residents had received their first dose of the vaccine, and 87 per cent had received their second dose. At the same time, the pediatric vaccine for children aged five to eleven was approved by Health Canada; however, polling suggested that BC parents were hesitant to vaccinate their young children. Henry faced the new challenge of creating a plan to convince parents and caregivers that vaccinating their children was both necessary and safe.<p>

Urban Company (UC) was a digital labour platform that connected consumers with service providers (referred to as “partners” by UC) for home services such as plumbing, painting, and beauty and salon services. UC was ranked as the top digital platform company in India in the Fairwork India Ratings in 2020, but on October 10, 2021, the company met with a protest by its women partners from the beauty and salon segment. Two months later, on December 20, it faced another protest from its partners for unfair work practices. UC had shown a stellar performance in 2020, registering a 146 per cent increase in its revenue. However, the company was unprofitable, and its losses inflated further in 2021. Accommodating the partners’ demands might deteriorate the company’s bottom line further and might adversely impact the success of its initial public offering, planned for 2023. Additionally, continued unrest by the women partners might tarnish the company’s image, adversely affecting its rating in Fairwork’s annual survey. There was also a possibility that the government might impose stricter norms for the functioning of digital platforms. What should the company do to appease the protesters while also protecting its bottom line?

In December 2021, Forest Essentials opened its one hundredth store in India and a store in the United Kingdom; the Indian home-grown luxury Ayurveda brand had rapid expansion plans despite the obstacles it faced. Twenty-one years earlier, the company’s founder, liberal arts graduate Mira Kulkarni, converted the six-thousand-year-old science of Ayurveda into bottles and jars of luxurious skin-care and hair-care products, making Forest Essentials an aspirational luxury brand. Forest Essentials had grown to establish a robust presence in five categories—skin care, hair care, wellness, health, and makeup—while acquiring a large and loyal customer base in India. The company was meticulous about the quality of its ingredients and put great effort into sourcing high-quality ingredients from all over India; however, easy access to cheaper Ayurveda-based brands and the entry and availability of international wellness brands into the Indian market threatened Forest Essentials’ customer retention.<br><br>Kulkarni and her son, Samrath Bedi, needed to sustain the growth of Forest Essentials across digital and physical channels in India’s cluttered beauty and wellness market, with a price-sensitive customer base, while also growing the brand’s presence in cross-cultural markets overseas. Could they pursue growth in both marketspaces consistently? Should Kulkarni and Bedi focus on engaging with their existing and potential customers in India, or should they aim to establish their luxury brand in international markets?

Michael Katchen, chief executive officer and co-founder of Wealthsimple Technologies Inc. (Wealthsimple), made history when his company launched Canada’s first regulated cryptocurrency exchange in 2020. By designing a platform complying with regulations, Wealthsimple provided Canadians with a safer and more secure platform to invest in cryptocurrency, thereby creating a point of differentiation and source of competitive advantage for the company. However, the perceived risks of cryptocurrency-based products meant that Wealthsimple’s pivot into cryptocurrency had not been met with unanimous support, with some industry commentators claiming that Wealthsimple’s strategy to enter cryptocurrency and the higher transaction fees that followed stood in stark contrast to the low-risk investment strategy and principle of wealth democratization upon which Katchen had founded the company. In 2022, with an aim to grow its user base, Wealthsimple had to consider whether to continue to expand in the Canadian cryptocurrency industry. Could it achieve its growth objectives by expanding its crypto offerings, or should it explore alternatives outside the sector?

In July 2022, a portfolio manager for an investment company was considering adding the Coca-Cola Company (Coca-Cola) stock to its flagship global blend fund, which invested in firms with neither predominant value nor growth characteristics. Her initial task was to develop an investment thesis by first gathering qualitative and quantitative information related to Coca-Cola and its peers. Her thesis would consider what long-term trends might play out in the industry, as well as any short- and medium-term considerations related to the economy, the industry, and Coca-Cola itself. She wondered whether an analysis of recent financial performance coupled with expectations of future performance could provide any clues as to the suitability of current investments. Recognizing that further analysis would follow (such as an in-depth discounted cash flow analysis), the portfolio manager needed to know whether the fund should consider investing in Coca-Cola’s stock based on her preliminary analysis.

After the 2008–09 financial crisis, the Chinese shipping industry grew markedly and took on a more dominant role in global shipping. As a result, it was felt by some that China’s state-driven economic model had possibly created an unequal playing field. Under the political agenda of the Belt and Road Initiative, specifically the Maritime Silk Road, Chinese state-owned enterprises acquired strategic infrastructure assets, establishing a global network of shipping infrastructure through investments in strategically important ports and terminals. The growth of China’s shipping industry raised several concerns in Europe and for AP Moller–Maersk, the largest container shipping conglomerate in the market. By late 2020, some European governments were becoming more cautious; the European Union had increased restrictions on investments by Chinese companies, and European governments had become increasingly outspoken about China’s geopolitical ambitions. How could AP Moller–Maersk use non-market strategies to better position itself relative to increasing competition from China?

Costco Wholesale Corporation (Costco), the world’s second-largest retailer, officially entered the Chinese market in Shanghai in August 2019. The opening day was so jam-packed with customers that the massive influx forced the company to close early, after only five hours of operations. However, after only one week, customers were lining up outside the store, asking Costco for refunds for their membership cards. The warehouse’s traffic declined significantly as well. What caused this situation? Did Costco make the right decision to enter the Chinese market? Does Costco’s membership system fit the Chinese market? What kinds of challenges will Costco face in the future?

Zenoti was a software-as-a-service (SaaS) unicorn based out of Bellevue, Washington. Zenoti’s SaaS was focused on back-office resource allocation and enabling multi-location spas and salons to digitize the consumer experience. After the latest round of funding, Zenoti’s chief executive officer, Sudheer Koneru, was keen to invest in artificial intelligence and other cutting-edge technologies to deliver an Uber-like experience to consumers. Other options for pursuing growth included geographic expansion, new customer segments, and entry into new competitive arenas. In January 2021, Koneru would have to identify and consider new growth ideas for Zenoti.

On the evening of June 4, 2021, the Nigerian government ordered the suspension of business operations for Twitter in Nigeria, accusing the social media company of spreading misinformation and fake news and allowing activities that could undermine the corporate existence of Nigeria. The suspension caused anger and outrage in Nigeria and sparked reactions around the world. Four months later, on October 1, 2021, the Nigerian government stated that it was ready to revoke suspension if Twitter agreed to certain prescribed conditions. Twitter was keen to resolve the issue and resume operations in Nigeria, but accepting some of the requirements could compromise its core values. Should Twitter agree to the government’s conditions?

On the morning of June 30, 2019, the Orlando Magic had only a few hours to make a major decision, before the National Basketball Association free agency period was set to begin at 6 p.m. The management team needed a recommendation regarding whether to offer a new contract to the team’s current player, Terrence Ross, or pursue a free agent replacement, such as Rudy Gay. With extensive analytical data available, a thorough analysis was needed to predict which player was most likely to contribute to the Orlando Magic’s future success.

On October 28, 2021, Mark Zuckerberg, founder, chief executive officer, and chair of Facebook Inc. (Facebook), announced Facebook’s name change to Meta Platforms Inc., reflecting his vision for the company’s transition to metaverse technology. At the same time, Facebook was plagued by multiple scandals related to a data privacy breach, the spread of misinformation on the social media platform, employee whistle-blowing, and surveillance-style marketing and advertising. Trust in Zuckerberg’s leadership was diminishing. Zuckerberg controlled 58 per cent of Facebook’s voting shares, and stakeholders, critics, and regulators were calling for distributed leadership. How could Zuckerberg restore trust in his company and his leadership? What did he need to change to become a more effective leader?</p>

In May 2021, Alibaba Group Holding Limited (Alibaba), China’s biggest e-commerce company, faced a number of challenges. Alibaba, which operated under a platform business model, was confronted with weakened consumer spending due to the coronavirus pandemic as well as increased competition from JD.com Inc. (JD.com) and other e-commerce entrants. To boost business growth and strengthen Alibaba’s leading position in China’s e-commerce market, Daniel Zhang, the company’s chief executive officer, would need to evaluate the possibility of adding a direct online retail model to complement the operations of its flagship platforms Taobao and Tmall. What challenges could Alibaba potentially face in its e-commerce business expansion?

On May 11, 2021, US federal agents raided the premises of a Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) temple in New Jersey and freed dozens of workers who had been operating under modern slavery conditions. Shortly afterward, six workers filed a class-action lawsuit against BAPS at the United States District Court, District of New Jersey. The lawsuit solicited to address the violation of the laws applied to workers, including laws prohibiting forced labour. The lawsuit claimed, among other things, that BAPS isolated workers, coerced workers to live and work in conditions causing psychological deterioration, limited workers’ outside contacts, and caused financial and reputational harm. Although this was only one particular case to come to light, it pointed to a broader problem faced by many companies across the world, either within their own operations or in the supply chains of the organizations they partnered with for corporate social responsibility purposes. How could companies ensure that they abided by fair labour practices and avoided the use of modern slavery?

In January 2021, the Japanese fashion company Uniqlo was accused of using forced labour in its supply chains. Various news reports had been claiming that Uyghur Muslims were being detained and forced to work on cotton farms, production factories, and processing facilities in China’s Xinjiang Uyghur Autonomous Region. The United States Customs and Border Protection claimed that Uniqlo was not able to fully demonstrate that its products and inputs were manufactured without use of forced labour or modern slavery in Xinjiang, China and issued a Withhold Release Order to detain Uniqlo’s shipment of cotton garments. Uniqlo’s attempts to dispute the allegations and overturn the WRO were unsuccessful. The company had to find a way to ensure transparency and uphold traceability across all streams of its value chain activity. But how could Uniqlo ensure ethical sourcing for all aspects of its products, given limited oversight over suppliers and subcontractors? Was cotton traceability a viable and feasible option? How could Uniqlo ensure the compliance all key actors in its value chain streams, across tiers of suppliers and layers of subcontractors?

In January 2022, Microsoft Corporation (Microsoft) announced the acquisition of Activision Blizzard, Inc. (Activision) for US$68.7 billion. With a growing franchise of games, and with Microsoft’s apparent ambitions for the games console market, Activision was an attractive acquisition target. Activision owned some of the most popular games in the world and had a $54 billion market value in 2020. The acquisition would also take Microsoft a step closer to expansion into the metaverse, where—along with the cloud gaming and video game software industries—it hoped to gain an edge. However, gaming was a small part of Microsoft’s business. So why had Microsoft pursued the acquisition? What advantages did Microsoft see in it? And what would the move mean for Sony Interactive Entertainment (Sony), the market leader in the video games industry? Finally, how should Microsoft address the allegations of harassment and other employee complaints that had arisen at Activision and set right the environmental, social, and governance (ESG) issues that had arisen at Activision?

In February 2021, the Indian government announced new regulations to increase the accountability of social media companies for misusing their platforms in spreading fabricated news, misinformation, and obscene material. The new rules were not welcomed by some prominent social media companies, including Twitter. The giant microblogging network claimed that the new rules were designed to suppress freedom of speech among the citizens of India, one of the largest democracies of the world. However, Indian regulators argued that the new rules were required to prevent abuse on open social media networks. Twitter contended that it was self-regulated and argued that its users’ voices should not be regulated because it would clearly amount to suppression of the right to free expression. In a changing political and legal environment, how could Twitter meet increasing demands from regulators to moderate content, while remaining aligned with its mission, vision, and ethical standards? Were the self-regulatory mechanisms of social media companies adequately effective without interference from external forces?