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In 2016, Chinese telecommunications equipment firm Huawei Technologies Co. Ltd. (Huawei) aspired to be the world’s top smartphone manufacturer. The company had identified German camera company Leica Camera AG (Leica) as a long-term partner to reinvent Huawei’s smartphone photography to beat an influx of domestic rivals and the market leaders, Apple and Samsung. The flagship dual camera smartphone that was co-engineered by Huawei and Leica, the P9, contained a camera module that was actually made by a Chinese manufacturer, Sunny Optical Technology Co., under Leica’s authorization. As a result, Huawei’s motives for the partnership with Leica were criticized as a quick fix to beat Apple in the dual camera market and repair negative publicity the company had suffered earlier. Was the long-term alliance really the best solution for both Huawei and Leica? Was it the right alliance in an emerging market?

In June 2016, Illinois Tool Works (ITW), a Fortune 500 manufacturing company in the United States, was at a critical juncture in its evolution. The company had identified a number of lofty goals in its 2015 annual report to be achieved by the end of 2017. These expectations included reaching over 200 basis points in organic growth above the market, a 23 per cent operating margin, a 20 per cent after-tax return on invested capital, 100 per cent free cash flow as a percentage of net income, and 12 to 14 per cent shareholder returns. Riding on the success of 2015, these targets had seemed achievable based on ITW’s performance and operational excellence. However, the U.S. and world economies faced a variety of challenges related to political uncertainty in the United States due to a presidential election and also in Europe because of the United Kingdom’s recent decision to exit the European Union. Additional challenges such as continued weaknesses in emerging markets and volatile currencies also affected ITW's outlook. ITW’s acquisition strategy had yielded excellent results over the past few years by effectively using diversification and decentralization strategies in its growth, but there was considerable uncertainty about achieving future goals. ITW had to make important choices about resource allocation across product groups based on their past performance and future prospects. The CEO also had to make appropriate decisions for continued superior performance.

Twitter Inc. (Twitter), based in California, was a social media platform whose growth had stalled over the past few years. Once a promising tool for individuals looking to broadcast short messages to a network, Twitter had been eclipsed by other platforms such as Facebook, Snapchat, and LinkedIn. Unlike other social media platforms, Twitter limited its users’ messages to 140 characters. This format served Twitter well in its early days, but users had turned to other more flexible platforms. In October 2016, Twitter’s chief marketing officer faced two main challenges: how to advertise an already popular social media platform to non-users and how to encourage current users to stay with the platform.

In 2006, the regional director for Texas’ Environmental Defense Fund (EDF) was on his way to a hearing about permits for new coal plants proposed by Texas electricity provider TXU when he received a call from private equity firm Texas Pacific Group, concerning TXU's plans to build 11 new coal-fired power plants. How could he negotiate with the private equity firm as it pursued the largest recorded leveraged buyout deal? The private equity firm was opposed to acquiring a firm embroiled in a pitched battle with environmentalists, and claimed to be willing to make substantial concessions. However, as an environmental non-government organization, EDF would face significant risks if it elected to work with TXU and private equity firms to facilitate this deal. Should EDF support the buyout, and what concessions should it ask for in return?

In May 2013, iGATE Corporation suffered a major blow after terminating its president and chief executive officer, Phaneesh Murthy, as a result of allegations of sexual harassment. Murthy had previously been forced to step down from Infosys Limited for similar reasons. After Murthy’s unceremonious exit, iGATE struggled to fill its top leadership position. Finally, in September 2013, a new chief executive took over and outlined a plan of action that differed completely from his predecessor’s strategy. However, the company, which had been poised to achieve big ambitions, had lost momentum and appeared directionless. Had iGATE made a mistake by hiring Murthy as its top executive just 18 months after he had been fired from Infosys? Why did iGATE not conduct due diligence on its talent acquisition and management, especially for the critical position of chief executive officer? How could other organizations turn around a position of vulnerability to become resilient?

In October 2013, future prospects for TransCanada’s pipeline project were uncertain, as the company had to find ways to establish and manage relationships with Aboriginal communities along the proposed Energy East pipeline in Canada, particularly in the province of New Brunswick. Following Supreme Court rulings that reinforced the duty to consult and accommodate, Aboriginals came to have a powerful voice in the development of energy infrastructure, creating new requirements for companies wishing to expand into areas subject to Aboriginal title and treaty claims.

<p style="color: rgb(197, 183, 131);"><strong> AWARD WINNER - INFORMS Case and Teaching Materials Competition</strong></p><br>Founded in 1972, the Association of Tennis Professionals (ATP) was the governing body of three professional men’s tennis circuits: the ATP World Tour, the ATP Challenger Tour, and the ATP Champions Tour. In addition to the ATP World Tour tournaments, there were four highly coveted and extremely competitive Grand Slam tournaments, one of which was Wimbledon. In 2014, two professional tennis players sought to determine their respective odds of placing first at Wimbledon, by using an understanding of probability, stochastic modelling, and Markov chain application. Both players were ranked outside the top 100 and faced a momentous task.

In 2015, Snapdeal, an e-commerce company in India, faced a supply chain situation in reverse logistics. In conforming to the industry trends, the company had a policy on assured product returns, which led to most customers returning to an online merchant for future purchases. However, by the end of 2015, the estimated worth of products returned under the Indian e-commerce platform was $800 million to $1 billion. The rate of returns of online products could add substantial logistics costs to each product return, hampering the industry’s growth. Snapdeal had some serious questions to address. Should it reverse its policy and not give customers a chance to return products? Should the company connect organizations and retailers with customers and derive valuable feedback from them? Should Snapdeal alter its product return policy in favour of a free returns or no questions asked return policy? Would corrective action be required for the e-commerce industry so companies like Snapdeal could create a return policy for customers who had legitimate reasons to return products?

In 2016, blockchain, the technological innovation behind the cryptocurrency bitcoin, was gaining traction as companies began to integrate blockchain-based technology into their existing business models. While blockchain technology was still in its infancy, it could potentially transform the US$40 trillion global supply-chain industry. Ultimately, the emergence of blockchain would challenge market positioning in established businesses. Some advantages would become obsolete with the introduction of blockchain into the supply-chain network. How would vertically integrated companies compete with multiple participants that specialized in a particular task linked by blockchain? Would the key to future businesses be providing value-added services rather than seeking information asymmetry in the market? What kinds of firms could leverage this technology to better position their brands and value creation?

On July 19, 2013, the documentary Blackfish was released. The movie claimed to have uncovered a series of animal abuses at SeaWorld and alluded to the negative impact of captivity on orcas, known as killer whales, which had resulted in the harm and even death of whale trainers. Whether real or alleged, such negative publicity threatened to affect the company’s image, stock prices, profits, and many of the company’s corporate relations. SeaWorld now faced several options in terms of responding to the movie release: ignore it, respond to it, or use it as an opportunity to completely rebrand. Which option would be the best for the company in the long run?

In 2014, Alibaba Group (Alibaba), the largest e-commerce platform operator in China, boasted in its New York Stock Exchange prospectus about its e-commerce ecosystem, which was being built over time. Alibaba’s chairman and chief executive officer declared that the company’s mission was to “make it easy to do business anywhere.” However, the ecosystem, which was well suited for people’s Internet habits of the past, would not likely be up-to-date in the mobile age, when browsing for information no longer posed a problem and people became fascinated by mobile apps that provided practical and entertaining services. Internet traffic, representing people’s attention, started to take on a new pattern. Having thrived on pooling Internet traffic by displaying a huge variety of merchandise on its platform, Alibaba could not afford to now lose Internet traffic to countless customized small apps.

BYD Company Limited (BYD) manufactured rechargeable batteries, mobile phone components, and automobiles. In 2008, the company caught the attention of Warren Buffet’s investment group, and their investment in BYD caused BYD’s share price to increase 917.86 per cent over just a year, setting Chinese investors’ expectations high for BYD’s release of A-shares, planned for June 2011. <br><br>BYD’s 2010 annual report showed that the company’s performance had already taken a dip, but its prospectus was optimistic about the market prospects. The first quarter report for 2011, issued the day before the A-shares were to be released, was not as optimistic. BYD’s A-shares fared well on the first day of release, but the company’s net profits declined remarkably, and reports forecasted further decline. However, the company’s 2011 annual report showed a drop in operating profits of just 49.04 per cent year over year—just slightly less than the 50 per cent decline that would have triggered intervention by the securities regulators. <br><br>Was the company making a remarkable recovery? Were BYD’s A-shares still a sound investment, or had the company “managed” its financial statements to protect itself and its securities underwriters?

In January of 2016, Singapore International Airlines Group (SIA) announced that it had secured more than 90 per cent stake in Tiger Airways Holdings Limited (Tigerair), and would take Tigerair private. Once the buyout offer closed on February 19, trading in Tigerair’s shares would be suspended because the free float had fallen below the minimum 10 per cent threshold. Tigerair had been suffering losses amounting to more than SG$600 million from 2012 to 2015. When SIA initiated the buyout offer, Tigerair’s shareholders wanted to use the discounted cash flow model, the discounted dividend model, and relative valuation to determine whether the buyout was a fair deal.

In 2016, a soccer fan closely followed the scores, standings, and transfers of players in the European soccer leagues. Having witnessed countless exchanges of players from one team to another, she wondered about the factors that team managers considered when determining the players’ market values. She gathered data on 77 notable soccer players in an effort to better understand the essential factors that made the players valuable. Could she use the variables she had collected to also build a functioning model that would predict a player’s market value?

The Canadian brand manager of Zelboraf had to decide how to introduce and price Zelboraf in the Canadian market. Zelboraf was a breakthrough discovery in treatment for melanoma cancer patients. Hoffmann-La Roche (Roche) began developing Zelboraf in 2005. During the clinical trials, the drug yielded such positive results in targeting late-stage (metastatic) melanoma cancer that Roche ended clinical trials early in order to expedite FDA approval and market launch. A competitor was developing a drug—Dabrafenib—that targeted the same segment of patients with B-RAF genes. It was unclear if this specific market segment could support two similar products. It was also unclear whether Dabrafenib’s Canadian market launch would affect the likelihood that Zelboraf got on the approved drug list to secure government reimbursement. The brand manager and her team also needed to determine the right price point for Zelboraf. Roche had to set a price that ensured profitability, but did not compromise Zelboraf’s competitive position.

In 2015, Britannia Industries — India’s most recognized biscuit brand — had overtaken Parle as the market leader in the biscuit (cookie) category and faced stiff competition from Parle, ITC’s Sunfeast, and many regional competitors. Britannia had to devise a strategy that would allow it to further consolidate its leadership position without losing market share; increasing the price alone was not an option in this highly competitive market. What could Britannia do to remain India’s number-one biscuit maker? How could it stay ahead of its rivals in the area of product innovation? In a market swamped with near-identical product packaging, it had to devise a strategy that would help it avoid an identity crisis and make it the consumer’s first choice. The company’s senior management needed to chart a clear roadmap for the future.

Jumbo Group Ltd. (Jumbo) was among Singapore’s leading food and beverage establishments. Founded in 1987, the group consisted of eight brands and operated 16 outlets—14 in Singapore and two in China. On October 28, 2015, Jumbo announced its initial public offering (IPO) of SG$22.06 million, consisting of two million retail shares and 86.23 million placement shares at SG$0.25 each. In this highly competitive market, the company’s chief executive officer and chairman was motivated to list Jumbo so it would have a bigger platform and better exposure to grow faster. He hoped a softer IPO market would attract more long-term investors. Jumbo was clearly profitable, but based on its past financial performance, what would be a reasonable valuation for each of its shares? The case covers valuation using the discounted cash flow model, weighted average cost of capital, discounted dividend model, and relative valuation, as well as the computation of underpricing.

In March 2016, Eveready Industries India Limited (Eveready) announced its intention to venture into the consumer-appliance segment. Eveready was the market leader in the batteries segment in India, with a market share of more than 50 per cent. The company’s portfolio comprised dry-cell batteries, flashlights, packet tea, compact fluorescent lamps, and LEDs. Eveready was readying itself to take on the giants of home appliances in India. With India’s home-appliances industry still underpenetrated, was Eveready’s entry into this segment timely? If yes, what strategic capabilities could it leverage? How should it then differentiate itself at a time when the market was saturated with multilevel segmentation? What could be the possible obstacles to Eveready’s success in the consumer-appliance industry?

In 2007, the founders of Airbnb were looking to solve a problem and ended up transforming their idea into a $10 billion company. What started as a quick website to advertise an overnight stay on their apartment airbeds along with breakfast in the morning eventually grew into an online accommodation booking business that spanned the world. Airbnb used its business model to carve out an extremely important space in an already crowded industry. However, along with success came challenges in terms of the scalability of its business model. In 2014, Airbnb was also facing legal challenges by state attorneys general that could make its business model suspect. The founders had to decide whether to defend their business model in a court of law and in the court of public opinion, or change it.

In 2012, the founder of Patanjali Ayurved Limited (PAL) and his associate were leveraging a unique business model by venturing into the fast-moving consumer goods sector in India. By March 2016, PAL had become the fourth-largest company in this highly competitive industry and was planning to become the market leader by 2020. Through its low-priced herbal and Ayurvedic products, PAL occupied a unique white space in the already existing strategic groups of domestic and multinational competitors. Industry experts were undecided about whether PAL posed a serious threat to multinational and domestic firms or if PAL should be praised for creating a new market for its products in India. If PAL was posing a real threat, then other fast-moving consumer goods firms had to develop strategies to maintain their own position, and PAL needed a plan to face the challenges involved in its future growth.