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Rituals, founded in the Netherlands in 2000 by Raymond Cloosterman, has had double digit growth over the last 15 years. It had taken the European beauty industry by storm, opening two to three stores weekly. At its current pace, Rituals would soon be opening over 150 new shops per year and expanding to new markets on an annual basis. In addition to having its own stores network, Rituals' sales channels included franchises, travel stores, various partners such as luxury hotels and an online shopping platform in multiple languages. Cloosterman's ambition was to double his business from €1 billion to €2 billion over the next 5-10 years. Part of that plan was a very strong footprint with brick-and-mortar stores, and an online share of 25% to 30%. Offline and online experiences had to become a seamless kind of operation. Cloosterman believed that it would be difficult to reach a €2 billion target without expanding his brand into Asia.

Established in 1979, Dayang Group Ltd. (Dayang), has become the world's preeminent made-to-measure garment manufacturing enterprise. It was among the first Chinese manufacturers to integrate into the global value chain using an original equipment manufacturing (OEM) model. What began as a small workshop with just 85 rural women has blossomed into a top-tier international apparel enterprise boasting assets of RMB 4.3 billion. As of 2019, Dayang's yearly integrated garment production capability reached 11 million pieces/suits, with suit exports hitting 6 million pieces/suits, consistently leading the national charts for several years. Its annual production capacity for customized attire stood at 1.3 million pieces/suits. With over 1,000 global collaboration custom storefronts, Dayang has established a global marketing network spanning four continents and more than thirty countries. Centered on Dayang's Chairwoman, Li Guilian, this case delves into the debate between OEM and own brand manufacturing (OBM) as well as between "mass production" and "mass customization." It retraces Dayang's journey from OEM to achieving global customization on the international stage. Furthermore, the case highlights Dayang's intricate decisions and balancing acts between "domestic focus" and "international reach" amidst the dual challenges posed by the unexpected COVID-19 pandemic and the ongoing China-U.S. trade tensions.

Structurally almost identical to the Sally Soprano role simulation, KSL Communications is a two-party, non-scorable negotiation between a communications consultancy and a streaming content service provider over the terms of a potential service contract. Lisney is one of the world's largest entertainment content producers with plans to launch its streaming service in South-east Asia. The consultancy that was supposed to handle the launch, Rattlemen, was forced to withdraw because of a "no competition" clause it had with Lisney's closest competitor. Lisney is now eager to sign a service contract with KSL, a reputable but financially troubled consultancy considered to be only second in the market to Rattlemen. Indeed, Lisney headquarters has authorized its Asia-Pacific Vice-President for Communications to offer KSL up to $5 million per year for the contract, though Lisney would like that figure to be lower if possible. KSL desperately wants this contract, which would attract additional clients and give the company certainty about its future, including the ability to acquire the third largest consultancy in the market. The contract is so important that KSL would almost be willing to work at cost (S$300,000 a year) except for the impact on the company's professional reputation and pride.

This case is used to demonstrate the acquisition method in the accounting for business combinations using the SGX-listed firm Medinex, which made three acquisitions in 2019. These were reported in its FY 2020 annual report. Medinex's expansion-through-acquisition strategy resulted in Medinex reporting high goodwill amount. The Securities Investors Association (Singapore) (SIAS) had raised queries regarding Medinex's acquisitions and the possibility of overpayment due to aggressive assumptions used in their valuations. How valid were SIAS's concerns about aggressive assumptions and overpayment? If goodwill was a significant element of each acquisition, were there enough disclosures for shareholders to understand what the goodwill represented? The primary learning objectives are to: 1. Understand the significance of the acquisition date in the acquisition method; 2. Understand how consideration transferred is determined; 3. Apply the requirements of the standard to determine the goodwill; 4. Identify the key assumptions needed for the goodwill impairment test; and 5. Assess the adequacy of the disclosures on goodwill.

After being named the "best bank in the world", DBS set its sights to be "the best bank for a better world" in its third wave of transformation. This meant concerted organizational efforts towards responsible banking, responsible business practices, and creating social impact. The bank leveraged its digital capabilities (now a key competitive advantage) to drive these wider social changes around sustainability and to seize new market opportunities for growth. Yet, a host of VUCA factors (e.g., economic uncertainty, geopolitical tensions, hybrid work, Web3 & DeFi, and next-gen AI) continue to emerge on the horizon. How can DBS aim to do good and do well in this new wave of transformation? Even as DBS continues to pivot towards a new agile and AI-augmented way of working, what are some strategic next steps it should consider, as it ponders the future of banking?

In July 2019, 15-year-old Charli D'Amelio posted a dance video on the relatively new social media platform TikTok and became a TikTok sensation, soon becoming the first person to reach 50 million followers on the app and earning her a spot in the Guinness World Records. TikTok's meteoric rise, however, was at risk of being short-lived. In 2020, the US government was concerned about the app's rapid expansion and threatened to ban it in the United States. Even if the ban announced by the US government failed to materialize, the D'Amelios and numerous other up-and-coming celebrity TikTokers had to contend with many other issues that threatened to compromise their growing social media influencer business. There was growing public concern about TikTok's lack of content moderation policy, which resulted in the routine posting of questionable content on the platform. The company was also slow in developing a monetization scheme to incentivize, remunerate, and retain its most influential creators. How could the D'Amelios best "future-proof" their fast-growing but fickle business against potential risk?

Established in 2020, Nurture.farm was a digital platform that focused on reimagining the next generation of sustainable technology-based solutions for agriculture. In June 2021, Nurture.farm's chief executive officer Dhruv Sawhney and his team recognized a grave problem in northern India. Environmental hazards were being created from mass rice stubble burning, which was an inexpensive and quick way for farmers to clear their field for the next crop cycle. In response, Sawhney and his team conceptualized and executed India's largest crop residue management (CRM) program. The organization's initial success in providing its services to over 25,000 farmers and curbing the stubble burning problem gained international recognition and helped Nurture.farm earn several new partnerships within a year of operations.<br><br>By March 2023, Nurture.farm was hoping to scale up its CRM program and expand into over 800,000 hectares (2 million acres) of land, primarily in India's rice paddy fields. In this mission, Sawhney and his team found themselves facing some difficult questions. Could they efficiently scale this mission-driven campaign to additional states? How could they convince and garner organic trust from farmers? Modern technologies helped Nurture.farm facilitate its operations, but what challenges could the company face in the future? What sustainable practices could help the company drive its CRM program?

In June 2021, the head of the information technology department at Ka Shui Group, a Hong Kong-based original equipment and original brand manufacturing company, was asked by the group's chief executive officer to evaluate whether Ka Shui Group should discontinue the Industry 4.0 program it had been using as road map for digital transformation. Ka Shui Group had launched the program in 2016 with the goal of creating a cyber-physical, connected workplace featuring digitized data transparency and connectivity, smart manufacturing and research and development, and self-monitoring and error-correction capabilities. However, the i4.0 initiative had yet to progress beyond this first stage over the last three years. The program's cascading progress within Ka Shui Group was stagnant, and results were meagre. At the same time, stakeholders were getting restless. All these problems, along with lukewarm reactions from employees and questions from investors about the benefits of Industry 4.0, were forcing Ka Shui to consider whether it was necessary to discontinue the program and, if so, what direction it should take next.

Jay Williams, cohead of the Nashville office of the William Morris Endeavor (WME), must decide how to respond to an incident involving Morgan Wallen, one of the talent agency's fastest-rising country music stars. Wallen, a white singer, was caught on home security footage using an ethnic slur with a group of white friends after a night of drinking. The following day, the footage was released to the public, and Wallen was swiftly disavowed by his record company, the two largest country music institutions, and hundreds of country radio stations. Williams faces pressure from executives in WME's Beverly Hills corporate office, because Black A-list clients are lobbying the agency to drop the enormously popular Wallen from the WME client roster. In this A case, Williams considers several complicating factors: (1) Dropping Wallen would hurt WME's bottom line, which was already damaged by the COVID-19 pandemic, and Williams does not want to be responsible for more layoffs. (2) The social justice movement from the summer of 2020 is still fresh in Williams's mind, and he knows that companies like WME need to take swift action after a racially charged incident or risk public backlash. (3) Wallen's agent is Austin Neal, the son of a WME partner, and forcing Neal to drop Wallen could permanently damage the company's relationship with this rapidly rising agent. (4) WME's parent company is preparing for an IPO, so there is extra pressure for the Nashville office's finances to look good, as well as to avoid controversy. This case set can be applied to a range of relevant topics: ethical decision-making, corporate responsibility, cancel culture, business and political polarization, employee (talent) representation, public relations and scandal management, and leadership.

This case study begins in October 2022, two years after Sophia and Eileen Goh, who were sisters, rebranded the footwear company to expand its customer base from baby boomers and Gen X to millennials and Gen Z. The footwear brand was originally positioned as a workwear brand, specifically to cater to women who had wide feet and suffered from bunions. Growth was steady in the first 20 years and was primarily driven by word-of-mouth. However, by 2020, the brand had lost its appeal to the millennials and Gen Z. In September 2020, the sisters embarked on an initial rebranding strategy by repositioning DMK as shoes for every occasion and milestone across a woman's lifetime journey. The rebranding effort was further strengthened by focusing on five pillars including supporting the female community, product diversification, reintroduction of DMK Care to enhance comfort of the shoes, introducing a new retail experience to provide immersive customer experience at the outlets and strengthening of DMK's digital capabilities. The Singapore footwear market was worth US$870 million in 2020 and was expected to grow to US$1,270 million by 2025. What else could DMK do to further elevate the brand and future prooffuture-proof the business?

This case examines the challenges and opportunities of doing business in Peru. It highlights Peru's economic transformation in the decades leading up to 2023 in the context of its history, culture, and politics. The case gives an overview of some of the main obstacles faced by businesses operating in the country, contrasting these with the efforts undertaken by the government to improve the country's business climate. This is illustrated through the discussion of a fictional business dilemma.

The Apple's Electric Vehicle case provides an interesting context for discussion in which participants can explore whether a very successful global company with a powerful brand should enter a new emerging product market such as Electric Vehicles (EVs) that may represent an attractive opportunity. Specifically, the questions faced by Apple are 1) whether EVs represent an attractive opportunity, 2) whether Apple has an opportunity to be successful in this industry, and finally 3) how Apple should participate in this industry. The company had to make key strategic decisions regarding the competitive positions of its proposed product offering and the scope of its participation in the industry while recognizing the uncertainties of customer demand, competitor actions, and government regulations.

The "Moral Complexity in Leadership" series of cases and teaching notes help business instructors harness the power of fiction to prepare students for the moral and ethical dilemmas they will face throughout their careers. Meaningful fiction challenges students intellectually and emotionally; it reveals the inner worlds of human players and enables learning that can be difficult to access through case studies, commentary, or reporting. Through literature, students will wrestle with the kinds of problems they will face as leaders looking to make courageous decisions aligned with their moral codes. The works in this series represent a wide range of settings, viewpoints, and cultural frameworks; the characters are complex and contradictory, and the systems within which they operate (whether family, organizational, or cultural) influence them in varied ways. They have been taught to executive, full- and part-time MBA student audiences for many years. The series aims to increase students' understanding of moral frameworks and enhance their skills in facilitating and participating in healthy and productive dialogue about complex and provocative issues. In this installment of the series, "Empathy," we examine Ken Liu's short story "The Paper Menagerie," in which the biracial son of a Chinese immigrant mother and a White native-born American father internalizes the racist attitudes and comments of those around him and tries to fit in with the majority cultural norms by rejecting his Chinese heritage and his mother--and his subsequent realization of their value. The story highlights issues of dislocation and pressures to conform that can mean a loss of identity; the personal impact of racist attitudes and remarks; and lack of empathy and curiosity about others' points of view and background.

The "Moral Complexity in Leadership" series of cases and teaching notes help business instructors harness the power of fiction to prepare students for the moral and ethical dilemmas they will face throughout their careers. Meaningful fiction challenges students intellectually and emotionally; it reveals the inner worlds of human players and enables learning that can be difficult to access through case studies, commentary, or reporting. Through literature, students will wrestle with the kinds of problems they will face as leaders looking to make courageous decisions aligned with their moral codes. The works in this series represent a wide range of settings, viewpoints, and cultural frameworks; the characters are complex and contradictory, and the systems within which they operate (whether family, organizational, or cultural) influence them in varied ways. They have been taught to executive, full- and part-time MBA student audiences for many years. The series aims to increase students' understanding of moral frameworks and enhance their skills in facilitating and participating in healthy and productive dialogue about complex and provocative issues. In this installment of the series, "Empathy," we examine Jhumpa Lahiri's short story "Mrs. Sen's," about an 11-year-old American boy who spends his after-school hours at the apartment of his babysitter, an Indian woman married to a university professor. The author's frequent theme of what she has called the "tension between alienation and assimilation" are highlighted here, as well. The story gives students the opportunity to discuss deep themes such as sacrifice for one's own or a partner's career; coming to terms with a bicultural life and managing the expectations of one's home family and friends; facing a lack of empathy and curiosity about one's points of view and background; and how the simplest of human connections can transform an individual's experience.

The case covers a specific instance of state-led innovation in the provision of financial services to Indian citizens: through the the "Common Services Centres" (CSC) scheme. The CSC scheme engages a vast network of rural entrepreneurs to drive the delivery of a variety of services, including - in collaboration with banking organisations and bodies in the country - financial services (banking and insurance). This is particularly relevant since India has long suffered from extremely limited financial inclusion of its citizens, especially in rural areas and among marginalised groups and communities. Banking penetration as well as financial awareness too have historically been low. The present scheme has been an effort to combat these (and other related) challenges to bring hitherto underserved regions into the ambit of the formal banking system in India using a combination of locl social networks, innovative use of digital technologies, and iterative policy design.

Preparing and strengthening the developing world for the 4th Industrial Revolution is a challenge that Computer Aid is tackling head on. Founder Tony Robert's vision is "Empowering the developing world by providing access, education, implementing technology and supporting environmentally responsible solutions." The case discusses the extent of digital divide gaps and challenges in the developing world. It traces Computer Aid's evolution from operations in a single African country to regionalization in Southern Africa with operations in many countries, and South-South expansion to Latin America and other developing country locations. Regionalization efforts focus on localization of operations within a region for creation of a mutually beneficial context for local businesses to become part of the digital divide solution through processing obsolete donated technology that Computer Aid then recycles and matches with beneficiary needs. The company has built a regionalization hub in South Africa. While they have had some success, questions remain-Is this the best approach for leveraging their service delivery, technology refurbishment and education? Will regionalization be effective in Latin America?

Ice Cool was a Singaporean brand that produced and distributed beverages and canned food in the off-trade food and beverage retail industry. While the brand, owned by Sheng Sheng F&B Industries Pte Ltd (SSFB), had been in use for more than 30 years, it was not a household name. This was even so for its top-seller, coconut water (aka coconut juice), which accounted for more than 70% of sales revenue within SSFB's house branded beverage products. The company has invested limited funds in branding and marketing. The main promotional tool the brand utilised was point-of-sale instruments. Company management hypothesised that Ice Cool's lack of strong brand identity and awareness were important factors contributing to stagnant sales. Thus, SSFB believed that the key to increasing sales revenue was improving the brand's image and identity. This case can be used to explore how brand architecture, brand hierarchy, and brand reinforcing strategies might influence brand performance. In addition, how should SSFB meet the challenges and capitalise on the opportunities from ecommerce to grow the Ice Cool brand?

Crurated, a start-up founded in 2019, combines various technologies to address previously unmet needs in the fine wine market through a bold marketing approach. The innovative ecommerce marketplace enables high-end consumers to connect with and purchase wine from renowned producers. Stepping into the shoes of founder Alfonso De Gaetano, students analyse how value is created through status-building across the product life cycle, identify opportunities to fix market failures and address unmet customer needs, combine technological solutions to articulate an effective value proposition, and formulate approaches to product, pricing, placement and promotion.

"Patagonia has long been a revered company in the world of outdoor gear, and environmental and social sustainability. Known for pushing the bounds of what it means to be a mission-driven organization, the company has challenged the status quo of consumerism. A key initiative early on in Patagonia's journey was its now-famous Common Threads Initiative and accompanying ad campaign to inspire customers to reduce unnecessary consumption. (Ironically, the extraordinary "Don't Buy This Jacket" ad was followed by increased sales.) Patagonia followed that with another program contrary to the typical clothing business: the company began providing significant resources for responsible care, repair, reuse and resale, and recycling at the end of a garment's life. Patagonia further questioned consumerism with a form of refusal. In April 2019, it stopped co-branding apparel with companies and organizations in certain industries, including finance. In April 2021, Patagonia took this policy one step further and announced it would no longer allow any companies' logos to be embroidered on its clothing. The company said non-removable logos reduced the lifespan of clothing because such garments are less likely to be worn beyond the time of employment, regifted, or passed on to someone else. This case takes place in May 2023, a few years after the new logo policy was announced. Students assume the role of the fictional vice president of global sales to develop a sales strategy based on the impact of Patagonia's business model that includes a unique refusal strategy."