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Alex Honnold is the world's most accomplished free climber. To many, climbing sheer vertical faces of rock- like the famed El Capitan- without a rope is viewed as not simply risky, but reckless. Honnold contrasts this sentiment by presenting his perspective on risk taking and the challenges of living a fulfilled life.

invisaWear is a start-up that used Internet of Things (IoT) technology to create a fashionable, single-purpose wearable for young females to provide them with peace of mind when faced with a dangerous situation. The smart product consisted of a charm attached to either a bracelet, necklace, or key chain which, when pressed, sent an SOS to the user's family, friends, and optionally, the police. The case study illustrates the entrepreneurial steps of identifying an opportunity, assembling a team, gathering resources, and then thinking big but starting small. In describing the invisaWear line of smart jewelry, the case provides a primer on IoT and it highlights the steps required to build smart, connected products.

This case provides an opportunity to evaluate different strategic factors that influence decision-makers when creating a country brand that is able to withstand today's competitive global context. It also explores the challenges of public-private partnership. Building a brand is not easy and to attempt one in the context of a country is quite challenging. It becomes even more difficult when dealing with developing countries, short- and long-term socio-economic crises, and constant pressure from a neighbor like the United States that has considerable influence on a country's image.

This case describes how Richard Lou, KEMET's Director of China Operations, was offered an opportunity from the U.S. headquarters to integrate the Batam Plant in Indonesia after he had led his Chinese team to successfully integrate the Shanghai Plant and the Nantong Plant. The opportunity gave Richard mixed feelings, for he was aware that the task of integrating the Indonesian plant, which had a very complicated background and had been suffering losses for many years, would be fraught-a make-or-break moment of his career. Should he rest on his laurels or rise to the challenge? Richard had to make a critical decision.

This case study discusses the entrepreneurial story of FreshFresh Trade and Commerce (Shanghai) Co., Ltd. ("FreshFresh" for short), showing the continuous improvements and innovations it has made to develop a profitable model in the fresh food industry. At the end of 2013, its two founders, Leo (Bin) Shen and Baiyuan Fang, first got the idea of creating an online platform to provide fresh food. Since then, they have constantly tested the business model of FreshFresh. After two years of effort, its model became recognized by users and capital markets. By the end of June 2016, over 700,000 users have registered, and nearly 50% of them have purchased products on its platform at least once. The repeat purchase rate (at least twice) is around 45%. In March 2016, FreshFresh announced that it had raised US$20 million in Series A financing. On June 30, the company won the 2016 Top Digital award, making it the only fresh food e-commerce platform to win a prize at that year's innovation launch ceremony for China's telecommunication, media, and technology industries. However, just like 99% of companies in this sector, it has not yet managed to establish a profitable model. In 2015, it suffered losses of around ¥20 million, representing 20% of its operating revenue. After a series of improvements, the company hoped to make a profit in the first half of 2016, and to expand its business to other cities. But when Shen receives the performance report in July 2016, he decides to abandon this plan. He imagines fresh food e-commerce to be like running a marathon, and he wonders how FreshFresh can make a profit and achieve sound development by rationally allocating its strategic resources.

This case illustrates the challenges of Peter Wong, CEO of Dow Chemical Greater China, in locally implementing Dow's global sustainability strategy around 2016 when the mainland government has only recently begun to tackle its problems of pollution and corporate responsibility. Dow's 20-year journey to embedding sustainability in global corporate strategy is reviewed in some detail, illustrating the step-by-step process of aligning resources, transforming culture, and building external partnerships to enhance the possibility that sustainability strategies yield financial gains. The case challenges students to make sense of this corporate transformation, and subsequently assess the wisdom of continuing support for commercializing a total dust containment solution when an abrupt drop in the price of coal reduced the solution's financial attractiveness to future purchasers. To make recommendations about further support, students must consider the best ways to measure and interpret a sustainability strategy's impact.

This case study describes how restaurant operator Wowprime, known for its brand creativity, implemented a diversification strategy in China's mainland. Having been present in the market for 14 years, Wowprime set out plans in August 2016 to expand from 149 restaurants to 1,000 by 2022. In a market where demand for customized offerings is gaining traction, should Wowprime maintain its fixed-menu-based diversification strategy for growth, or should it focus on core brands and priority markets? The case invites class participants to step into the shoes of Wowprime decision-makers and consider strategic options to achieve the 2022 goal while taking into account resource constraints as well as local market trends.

This case describes the process of Austrian chocolate producer Zotter Chocolate entering the Chinese market. There are several things that make this company stand out: it is a small, family-run entrepreneurial firm from Austria that makes a wide range of unconventional flavors of chocolate. It prides itself on being organic and fair trade, and has attracted many loyal customers and visitors to its "chocolate factory" in its headquarters in Bergl, Austria. After successfully entering the German market-an "obvious" target for a firm from Austria-the founder, Josef Zotter, and his family considered where to go next, in 2010. After comparing the U.S. and Chinese chocolate markets, Zotter Chocolate selected China as its first major non-European market. The case introduces how Zotter sought out a local partner in Shanghai and decided to enter the market with an "experience-based" offering in its first chocolate factory outside its home market, overseen by the founder's daughter Julia. Their innovations and learning process are also presented in the case. The case ends with Julia's key concerns about Zotter China's next step when she has to leave China for Zotter Chocolate's Austrian headquarters in August 2017.

This case describes how Opple Lighting, a leading company in China's lighting industry, developed its e-commerce business as online selling brought wholesale changes to the traditional market. Numerous questions emerged as the company embarked on its e-commerce journey. The gulf between online and traditional offline distribution channels in lighting meant that many management figures opposed the move, seeing it as a threat to long-established business lines. Opple's e-commerce team needed to find a way to gain recognition and business support from other departments. While flexible pricing is common in offline stores, price transparency is a defining feature of e-commerce. The next hurdle was ensuring that the e-commerce business avoided direct competition with offline channels. Traditional lighting fixtures are the result of long-term R&D and are subsequently produced in large quantities, whereas e-commerce products undergo rapid iteration and come in small batches. The final challenge for this department was to determine how to iterate new products and which distribution channels to use. The case chronicles the development of Opple's e-commerce business unit between 2012 and 2019. During this period, the team continuously optimized different links, including product development, production, manufacturing, logistics, warehousing, marketing and after-sales service. It also adjusted organizational structure, pursued an innovative talent management approach and improved its performance incentive system. The BU's efforts paid off as online sales rose to make up 30% of total revenue in 2019, up from 6.5% in 2003. E-commerce became a new growth driver for Opple. The BU also spearheaded changes in the company's working culture, structure and incentive system. In 2020, however, Opple witnessed a decline in both online profit and growth rates as competition intensified. What lessons can Opple draw from its journey into e-commerce to be better prepared for the future?

This case focuses on the distinctive "paternalistic" leadership and management style of Ren Zhengfei, founder of Huawei Technologies Co., Ltd. (hereinafter "Huawei") and considers whether he needed to adapt his style in light of new challenges at the company. Ren's own military experience shaped Huawei's early corporate culture and management structure. It emphasized clear-cut goals, hard-and-fast rules, employee dedication and absolute obedience. At the same time, the company acknowledged the contributions of dedicated employees by remunerating them generously. This approach transformed Huawei into a company of strivers and fueled rapid business growth. Nevertheless, as the market evolved and employee characteristics shifted, the shortcomings of Ren's management model grew ever apparent. Consequently, Huawei's performance took a nosedive and employee satisfaction also sank. Beset by internal and external challenges, Huawei needed to completely rethink its approach to business, corporate culture and company management.

This case series tells a story of post-merger integration, depicting a string of challenges faced by Guangxi LiuGong Machinery Co., Ltd. during its cross-border M&A. As a large SOE specialized in R&D, manufacturing and construction equipment sales, LiuGong was one of China's most internationalized companies, setting a prime example for local peers in the construction machinery sector with global aspirations. The case series comprises two parts: Case (A) and Case (B). Case (A) introduces the background of LiuGong's globalization strategy, summarizes the acquisition of the civil construction machinery division of Polish state-owned firm HSW as well as its wholly-owned subsidiary Dressta, and describes the integration process of LiuGong Poland, managed by former HR Director Teddy Wu, who was appointed General Manager of LiuGong Poland at a critical moment. China headquarters deployed him to Poland with a series of missions to carry out. After the acquisition, wholly-owned Dressta continued to operate independently, but its performance fell short of expectations, and a significant part of its operations overlapped with those of LiuGong Poland. One of the first major decisions Wu faced was to determine whether merging Dressta with LiuGong Poland was necessary.

This case describes why and how Advantech Co., Ltd. (hereinafter referred to as Advantech) has transformed in the age of the Internet of Things (IoT). Aware of the ecosystem attributes of the IoT industry and committed to the company's principle of altruism, Advantech strategically positioned itself as an "IoT platform provider" and an "enabler" of IoT applications. Since carrying out reforms in terms of its internal management, external cooperation, and development model, Advantech has evolved from an industrial computer maker into an IoT solution provider. Since the launch of the "co-creation model" at the end of 2016, Advantech has drawn attention from many excellent companies in traditional industries. With the Internet of Everything close at hand, Chairman KC Liu is well aware that there are many challenges to overcome as Advantech strives to build an industrial IoT ecosystem, the evolution continues. Case discussion will be carried out based on a three-step analysis of ecosystem strategy (seeing the ecosystem-choosing your position-winning the game) proposed by Ron Adner. Students will take a close look at the critical decisions made by Advantech as it made inroads into the IoT ecosystem as well as its organizational transformation and exploration as the company implemented strategic decisions. Through this case, students will not only learn about the latest developments of the emerging IoT industry, but will also gain a systematic understanding of "ecosystem strategy" and get to know a new corporate growth model called "co-creation."

Brian Patterson was the lead developer of a large office project in Moscow when the global financial crisis hit. His project, which had looked like it would be jaw-droppingly profitable just months before, was suddenly thrown into turmoil, and he faced trouble on all fronts. His local development partner wanted to sell in order to shore up its failing balance sheet, his world-class anchor tenant suddenly reneged on its pre-lease agreement, the contractor was running months behind schedule, and the project's bank was looking for any excuse to pull the construction loan. Just months earlier, the project pro forma had projected hundreds of millions of dollars in profit. Suddenly there were serious questions around whether the project could even be completed. And if it could, what rent and cap rate values could be assumed to determine if it made sense to continue development? Patterson needed to make some assumptions to determine whether or not to accept a sale offer that had been drudged up by his local partner. And if he decided to turn down the sale offer, he needed to find a way forward through a maze of (i) diverging interests amongst his partners and (ii) project development problems. As the economic and financial system faced global turmoil and threatened collapse, Patterson had to decide whether to keep developing the project - at significant risk to both the project and his personal career - or to sell for a modest profit and live to fight another day.

The case presents a decision point in the development of the California-based Chopra Center from the considerations of the center's Chief Operating Officer. The center was founded in 1996 by the physician and author Dr. Deepak Chopra in partnership with Dr. David Simon with the goal of bringing the insights of a 5,000-year-old Indian healing tradition to modern medicine. Two decades on from its founding, the center is confronting important structural questions about its portfolio of customer offerings, the role that digitization of programs and marketing will play and how these questions will be informed by the center's commitment to its founding values.

Vittala International Institute of Ophthalmology (Vittala), a not-for-profit organization was involved in providing free/highly subsidized eye care to the rural and the economically underprivileged population in the state of Karnataka, India. The case describes the challenges faced by the founder and his family in building the state-of-the-art institution and sustaining it through its difficult initial years. They had to build awareness of avoidable blindness, make eye care accessible and affordable, and develop the right networks and alliances, all within limited resources. Unlike certain eye care issues such as cataract, Vittala focused on retinal eye care problems that required periodic monitoring and treatment. Diagnosis required sophisticated and expensive equipment, which had to be made available in far-flung small towns and villages, and that posed difficulties. To address the challenges, the organization and its founders executed pioneering innovations in organizational arrangements and processes. The case closes with the dilemma facing Krishna, Director of Vittala, which was to examine how the social enterprise could enhance the revenue streams to increase Vittala's reach in providing eye to the economically disadvantaged citizens. He needs to consider issues like creating the right balance of paying and non-paying patients to ensure sustainable operations, consistent quality of care, keeping technology updated, and attracting and retaining medical staff with right skills and values. The case is significant as it highlights what is required to make healthcare accessible and affordable to the poor, and how policy measures can be executed at the ground level through appropriate organizing efforts. It describes how the founder inculcated a system of values to keep the family members together, thus contributing to the effectiveness and sustainability of the social enterprise.

Launched in East Africa, M-KOPA is an innovative pay-as-you-go solar system that provides reliable energy to low-income households. To serve these customers profitably, M-KOPA's solution relies on digital innovation and the integrated adaptation of every element business model, including a new profit model akin to the data-driven platform models of the likes of Amazon and Tencent. The founders' challenge was how best to continue growing their for-profit business in the face of new competition, while staying true to M-KOPA's social mission and values.

The case, set in mid-2017, traces the evolution of a gender-responsive regional level multi-stakeholder platform called GREAT Women ASEAN, dedicated to the economic empowerment of women micro-producers. In 2008, Jeannie Javelosa (Jeannie) and her friends Regina Francisco and Pacita Juan, had set up ECHOstore under a private entity called Earth Life Store Supply Inc. ECHOstore retailed organic products to upmarket consumers of Manila, Philippines. Identifying the potential to improve the marketability and earnings of the micro-producers, the trio founded ECHOsi, a non-profit foundation in 2009. ECHOsi helped micro-producers improve their products as well as their market base by providing market-linking and business support services through its network of business owners and intermediaries. The Philippines Commission on Women (PCW) roped in ECHOsi as the private sector partner to implement the projects of GREAT Women Programme (GWP), a Women Economic Empowerment (WEE) programme funded by the Canadian government. The efforts resulted in a seamless ecosystem of government agencies, private enterprises and non-profits collaborating to create an inclusive economy for micro-entrepreneurs. As the GREAT Women brand garnered commercial traction, its ownership was transferred to ECHOsi, which entrusted its commercialisation to Earth Life Store Supply Inc. The United States Agency for International Development (USAID) eventually identified the GWP as an ideal WEE model to be replicated in the ASEAN region. It enlisted the help of ECHOsi to integrate women micro-entrepreneurs into the regional value chain. Jeannie was in the process of creating a collaborative network of business owners, intermediaries, facilitators, donors and government agencies to sell the products of beneficiaries under the GREAT Women brand. As the impact model scaled, Jeannie had to prepare for the risks involved in franchising the social enterprise and also find the means of funding the expansion.

Havilah Merchants Nigeria Ltd. is Nigeria's leading one-stop shop for outfitting libraries and archives. It serves three primary market segments: (i) public university libraries, (ii) multi-national companies in the oil and gas industry and (iii) banking industry. Over the years since its incorporation in 1995, Havilah has successfully executed many library and archive projects, and its products and services have become the benchmark in the local industry for quality. Yet, in 2015, despite their operational successes, Lanre Adesuyi, the founder and CEO of Havilah, and his management team are at a crossroad. While the business is profitable, with a fairly strong order backlog, their expansion to date has consumed their cash, leaving them with no working capital to fund the projects in the pipeline. Unless changes are made, they run the risk of stagnating, and in doing so, disappointing their customers and diminishing their brand. After careful consideration of several options to raise more funds - such as increasing the bank borrowing or issuing stock - Havilah's management team has decided to focus instead on generating more cash within their value chain. Specifically, the management team was deliberating whether Havilah could work with its customers and suppliers to reduce the working capital requirements and alleviate the cash flow pressures. On other words, could Havilah harness untapped cash potential from its value chain? The case examines several potential modifications to the terms of Havilah's engagements with its varied customers (universities, banks and multinational oil and gas companies) and suppliers of books and shelving materials, and attempts to quantify the potential effects these value chain initiatives could have on Havilah's cash position.

AMÓS Health and Hope was a Nicaraguan non-governmental organization (NGO) founded in 2007 to empower rural communities to establish their health needs and develop action plans to solve them. It also supported these communities, following up on their plans and providing guidance to execute the actions planned. Dr. Laura Chanchien Parajón, AMÓS´ Medical Director and co-founder, was working on a funding application to be submitted to the United States' Agency for International Development (USAID), hoping that it would allow the organization to expand its operations in Nicaragua. AMÓS' new project sought to fight diseases transmitted by the Aedes Aegypti mosquito, like , Zika, Dengue, and Chikungunya. The rate of these diseases among Nicaragua's population showed a growing trend over recent years. Dr. Chanchien had scheduled a meeting for the next day with Dr. Parajón, the organization's Executive Director, to decide whether they would submit the application or not. Dr. Parajón had some qualms about this new project, including whether it would draw AMÓS away from its mission and whether the organization had the capabilities required to execute it successfully.

The legal availability and use of marijuana is on the rise. More than half the states in the country allow its use for medical purposes, eight of which also permit it for recreational purposes. The manufacture, sale, and use of marijuana is largely a cash business because it is still against the federal Controlled Substance Act. Most banks will not allow such businesses to open a bank account as a result. This case addresses the ethical issues faced by a CPA who is asked to accept the client's request to hold back reporting 25% of the cash sales as taxable income, arguing that since it is a cash business no one would be the wiser. The tax accountant does not want to go along with the firm's request as she knows it would be wrong to do so. She values honesty and integrity in tax reporting and is concerned about violating the AICPA rules of professional conduct, especially the acts discreditable rule. In preparation for a meeting with her superiors, the tax accountant considers ways to effectively voice her values by responding to the likely reasons and rationalizations she might encounter. The associate teaching note addresses the stakeholders, how to build a coalition to support her position, and the most powerful and persuasive responses she can make to positively influence her superiors.