個案總覽

This case details how semiconductor company PMC-Sierra implemented different corporate entrepreneurship strategies to take advantage of two major industry disruptions: 1) the transition from hard disk drives to solid state drives; and 2) the rise of cloud computing. The core business of PMC-Sierra's enterprise storage business was developing products called controllers that interfaced directly with hard disk drives. The company sold these controllers to the world's largest storage equipment manufacturers, including HP, Dell, and IBM. The case focuses on the years 2010-2012, during which the company strove to develop a new type of controller optimized for solid state drives-while maintaining the strength of its existing core hard disk drive business. With the rise of cloud computing, PMC-Sierra added a major new customer base: giant cloud service providers like Amazon, Google, and Facebook. As these cloud service providers grew in strength, they upended the industry supply chain, negatively impacting PMC-Sierra's traditional core customers such as Dell and HP. The big challenge, and opportunity, for PMC-Sierra was to retain its current large customers while capturing new growth opportunities. The case ends in 2012 at a decision point for PMC-Sierra. Should the company continue building solid state drive products internally, given that it was emerging from two major setbacks-or look for an acquisition possibility, which would be very expensive? Either way, the company had to decide how to organize its next development effort, drawing from corporate entrepreneurship lessons it had learned in the previous few years. Additionally, the company had to decide whether to develop a newer, but riskier, technology on the horizon. Could PMC-Sierra launch and maintain development of two new technologies, or would it have to choose one or the other?

In August 2017, MoviePass dramatically lowered its subscription price from $50 per month to just $10 for up to one movie per day. The idea was to rapidly scale the business to the point where it could generate incremental revenue streams from related businesses (e.g., a share of ticket and concession revenues from theaters, advertising revenue from movie studios; and revenue from ride-sharing companies). Within two days, Moviepass had gotten 150k new subscribers; within six months, it had more than 2 million. But as of February 2018, the company faced three challenges: theaters were resisting the concept, investors were shorting the stock in record numbers as losses mounted, and competitors were beginning to appear. Could CEO Lowe convince investors that the company was viable and it could, indeed, monetize the growing subscriber base? At the same time, Lowe had to decide whether to raise subscription prices to cover the growing losses or keep prices low to grow the subscriber base as quickly as possible.

After long dominating Mexican microfinance, Compartamos Banco faces the emergence of fintech, just as for the first time its loan portfolio and clients have declined. Enrique Majós, CEO of GENTERA, the bank´s parent company, is keenly aware of the profound changes since the Compartamos IPO in April 2007, when it was valued at $1.5 billion and became the first bank wholly dedicated to microfinance to be quoted in a major stock exchange. Since then, the market has become intensely competitive, with both large established institutions and new entrants vying for the same customers. Simultaneously, the digital era has spawned fintech, threatening to disrupt Compartamos' highly successful model but also providing opportunities for the bank to reshape it. While challenged to manage key innovation within a leading incumbent, Majós must consider whether to commit his team to a major cost reduction in the next few years to his board of directors at their next meeting at the end of the month.

On January 6, 2019, HelloSelf, a London-based "BrainTech" company, founded a year earlier by Charles Wells, soft launched. The proposition was simply to help its members "Be your Best Self." The company provided its registered members with access to a clinical psychotherapist, a life coach, and an AI engine that personalized advice. The platform provided members with the ability to set goals, track progress, and discover new things about themselves. Throughout the previous nine months, over 500 people had registered interest in the proposition, price points had been tested, competitors analyzed, members and specialists interviewed, and wireframes developed, but there were several questions still crossing Wells' mind. Did the subscription LifeCoach bot model combined with pay-as-you-go therapist sessions make sense? How could he attract an early cohort of users? How would HelloSelf interact with the broken mental health solutions in the UK? How quickly would the platform scale and learn to provide meaningful AI support for both therapists and the LifeCoach bot? And most importantly, would the platform deliver on the mission "to help everyone discover, understand and experience their Best Self"?

Tucker Company Worldwide Inc. (TCW), located in Haddonfield, New Jersey, specialized in providing supply chain logistics solutions to companies in the energy, pharmaceuticals, and food sectors; and to government organizations. On Friday, June 1, 2018, TCW's president and chief operating officer received a bidding solicitation from a refinery in Reading, Pennsylvania. He tasked his most responsible carrier sales manager with responding to the bid. Both men knew that winning this bid was important for the company and would be a valuable gain. However, the bid needed to be submitted by the end of the day, and the sales manager was challenged with how to effectively showcase TCW's value, address all practical transport options, and remain consistent with the company's core practices.

BloombergQuint (BQ) was started as a collaboration between Quintillion Media (QM) and Bloomberg in April 2016. In the competitive landscape of business news broadcasters in India, it started by providing stock updates, financial sector news and opinion articles on financial issues on its website. BQ later expended by providing video content in September 2017. It had applied for a television broadcasting license and awaited approval from the Ministry of Information and Broadcasting, Government of India. The lack of a suitable television channel obligated BQ to use alternate distribution channels for ensuring that its content reached a wider audience. One of the alternate channels used by Ankit Dikshit, Manager, Digital Marketing, at BQ, was WhatsApp, a mobile messaging app widely used in India. This case explains the process whereby BQ grew its user base through WhatsApp. Growth by WhatsApp has led to Anil Uniyal, the CEO of BQ, setting ambitious targets for Dikshit. Class participants have to guide Dikshit on the way forward for BQ.

CareerWise Colorado (CWC) is an organization that equips high school students with the skills to build successful careers through apprenticeships. Founded in 2016, the young organization has attracted interest from different groups and civic leaders from across the U.S., some of whom want to replicate CWC's model, and others who want CWC to bring and then operate its program in their localities. Noel Ginsburg, CWC's founder and CEO, and Ashley Carter, COO, now have to decide how, when, and where to grow CWC. They both believe in CWC's apprenticeship model's widespread applicability, but so far it is still a relatively small-with just over 200 active apprentices spread across two cohorts; all of whom live in Colorado-and unproven entity. As of late 2018, no apprentices had yet completed the three year program. They did not want to scale the program too soon, but Ginsburg and Carter also did not want to miss out on the attractive opportunities being presented to them. How should they scale this organization?

On December 5, 2018, Waymo LLC, a subsidiary of Alphabet Inc., launched the United States' first commercial driverless-car ride-hailing service (Waymo One), based in Phoenix, Arizona. As with other ride-hailing services such as Uber and Lyft, Waymo One riders downloaded an app onto their smartphones that allowed them to request pick-up and drop-off points. At launch, Waymo One was limited to an area of roughly 100 square miles, but few doubted that the service would soon be extended to more geographies. When asked where it would be launched next, CEO John Krafcik commented, "We're going to grow and be paced by the level of safety that the technology provides in each of the environments that we serve." Just how fast that pace would be was driven by a whole host of regulatory, technological, and competitive uncertainties. There was also the question of the ultimate role Waymo might play in the autonomous vehicle world. What should Waymo be aiming for?

By mid-2016, five years of aggressive growth had transformed Fetchr from a small logistics startup to a 1,000-employee, full-fledged last-mile delivery company operating across four countries in the Middle East and North Africa (MENA). Already beneficiaries of the largest Series A round to the Middle East from an American firm, CEO Idriss Al Rifai and the Fetchr team had ambitions of raising another $40 million in Series B and deliberated continuing international expansion. But first, Al Rifai and his team needed to address the operational efficiency and profitability issues that led their investors to threaten the discontinuation of funding, and put the company's future at stake. The case provides background information on the logistics sphere in the Middle East and the challenges companies face in the region. The case then takes the reader through Al Rifai's journey of founding and growing Fetchr, backed with innovations like their patented GPS-based delivery technology. Finally, the case zooms in on Fetchr's management team as they race against time to perform evaluations of their operational efficiency, weigh cost-cutting options, and explore strategies to improve profitability.

On June 12, 2018, 29-year old PlayDate founder and CEO Amanda Raposo and advisor Michael Ryan-Southern considered an offer from "celebrity mom" and founder of a fashion brand Daphne Decoates to combine their independent playdate app start-ups and split the equity 50-50. Raposo, had been running PlayDate in various formats since 2010 but Decoates' app was still in the conceptual phase. The decision was urgent, as Raposo had committed to investors that she would launch PlayDate's online application by July 31, in six weeks. Raposo also had internal issues: her lead app developer had been hospitalized the day before, and she needed to finalize the equity split with her co-founder and part-time chief marketing officer, Courtney Bernabei. Lastly, conversations with senior executives in larger parental outsourcing firms brought to light challenges with the complexity and expense of simultaneous vetting of multiple caregivers and multiple families. Raposo considered her best path forward with respect to company ownership, strategic partnerships, and delivering on a compelling, differentiated value proposition. This case asks students to consider the multitude of issues that an entrepreneurial leader must manage as they move towards launching their venture.

Forced by the investor preference for passive instruments like exchange-traded funds (ETFs) driven by ETFs' fee and performance advantages, regulatory pressures, and the rise of robo-advisors, the renowned active manager Fidelity embraced ETFs by introducing smart beta ETFs. As the new chairman, Abigail Johnson had to consider the challenges ahead including incompatibility with Fidelity's investment philosophy and fierce industry competition. The case is based on several concepts including ETFs, mutual funds, index funds, factor asset pricing models, financial innovation, active vs. passive investment management, and efficient market hypothesis, aiming to help students understand ETFs, especially smart beta ETFs, as well as Fidelity and other ETF providers. The case can be used to facilitate teaching in the area of Finance & Investments.

Set in December 2017, the case discusses Bellamy's Australia Limited (BAL)'s debacle in China, and its subsequent turnaround. BAL was the leading supplier of infant milk formula and baby food products in China, its largest export market. In mid-2016, the Chinese government, in a bid to control the growing proliferation of sub-quality products in the industry and boost consumer confidence, introduced new import regulations. These regulations restricted all companies, domestic and foreign, to selling a maximum of three product lines, and mandated their pre-approval and registration with the Certification and Accreditation Administration of the People's Republic of China (CNCA) and China Food & Drug Administration (CFDA). BAL's top management's subsequent liquidation of part of their shares in the market, coupled with an attempt to mislead the shareholders regarding the impact of the new regulations on the company's sales in the country, triggered a strong negative investor sentiment. BAL's stock prices plummeted by more than 40% overnight, leading to the company requesting for a voluntary trading suspension of its shares at the Australian Securities Exchange (ASX). In January 2017, the board of directors undertook a series of corrective steps including the appointment of Andrew Cohen as the new CEO. By December 2017, the market situation had improved with BAL reporting reduced inventory, positive operating cash-flow, renewed momentum in sales and a significant improvement in investor outlook. BAL's share price picked up by 60%. Yet, there were many concerns going forward. Would BAL be able to sustain and build upon the positive results, given the highly sensitive nature of the infant milk formula and baby foods industry in addition to the complex legal structure and bureaucracy of the Chinese market? What would be a prudent financial accounting and reporting strategy for BAL management to pursue in order to rebuild its market credibility?

Guanxi, political connections in China, can provide unique competitive advantages, but can expose business leaders to regulatory and political risks in the region. The fictional case focuses on how U.S. banks in Hong Kong, a major financial center for the Chinese market, are pinned upon the horns of a dilemma. Banks can abide by the letter of the law and not win any business; alternatively, they can break the law, in spirit if not actually the letter, and win business at the cost of incurring legal jeopardy and possibly violating one's own sense of morality by hiring the children of well-connected senior management of a Chinese business who can direct substantial mandates to the employers.

Jeanette Williams, the administrative assistant of the IT department of a large firm, had suggested creating a departmental gift fund to which employees would each contribute a set amount each year and that could be used to purchase gifts to mark significant events in the lives of department employees. Though she had managed the fund since its inception, Dave Babcock, the interim manager, had decided to take over its management. Over the course of several months, a number of events occurred requiring the use of the gift fund. In most cases, those events were of the type for which the fund had been created - births, deaths, promotions, and departures. However, Dave had also used the fund to pay for a social event, generating mixed reactions from employees. The fund had been depleted, and Dave had solicited volunteer contributions from employees when more events occurred calling for gifts. Department staff had begun to ask questions about Dave's management of the gift fund. Faced with another event and a depleted fund, Dave had to decide what to do next.

Fairfax Financial Holdings Limited (Fairfax), the Canadian insurance and investment company, made an offer in 2016 for a majority stake in the Catholic Syrian Bank Limited (CSB), a regional private bank in India. Despite its initial enthusiasm for the deal, the CSB rejected the offer because of low valuation. At the behest of the Reserve Bank of India, the CSB made a counter-offer to Fairfax for a majority stake at a substantially higher valuation. Should Fairfax take the offer?

While Samsung remains one of the largest and most profitable companies in the world, it is facing a need to re-invent itself. Chinese competitors like Huawei have benchmarked Samsung's business model, taking market share away from Samsung's core smartphone business and compressing its margins. To stay ahead of these competitors, Samsung has been transforming itself into a Silicon Valley entity that aims to create new markets for new product categories. In order to take advantage of Silicon Valley and its rich innovation ecosystem, however, Samsung must overcome strategic and organizational challenges. This case examines Samsung's traditional strengths as a technology manufacturing powerhouse and its emerging strengths as an innovator, and challenges students to leverage both strengths in re-imagining Samsung.

El Sistema explores an NGO that changes the life of thousands of young people in Venezuela and around the world through musical education.

Accion, an NGO, had been a pioneer in microfinance since its entry into that sector in the early 1970s. Its investments in Banco Compartamos paid off, when the microfinance bank went IPO in 2007, leaving an influx of $138 million for Accion. Under a new CEO, Michael Schlein, who came from Citibank, the organization was constantly wrestling with what its next strategic direction should be. In 2010, Schlein decided to move the organization in the direction of fintech, betting that the new digital technologies would enable a rapid inclusion of the 1.7 billion people who had been traditionally excluded from financial products and services. The case lays out the components of the new strategy and asks students to assess its effectiveness.

The case describes the investment of hedge fund, Totem Point Management in Analog Semiconductors (ADI) as a way to discuss forecasting and valuation in growth companies. In June 2016, hedge fund Totem Point invested in ADI at around $55 a share. In general, Totem Point aimed for their investments to yield 50 percent returns over a two-year time horizon. It was now 2018, and Totem Point was evaluating whether to maintain its position in ADI, expand it, or close it and walk away with its (substantial) winnings from the investment. Though the stock had done well in the prior two years, it had recently seen numerous downgrades by sell-side analysts, as its price slid 15 percent from a historic high. The question facing Totem Point, was whether it would grow by a further 50 percent over the next two years. To answer this question, Totem Point considered growth trends in each of ADI's main end-markets: industrial applications, consumer applications, automotive applications, and telecommunications applications. If these end-markets expanded over the coming two years, ADI would do very well, but if they failed to expand, the stock would stagnate. Totem Point's task was to figure out which scenario was most likely and what that scenario would mean for the stock's price.