個案總覽

This case is about Colbun, Chile's second largest electricity generator, which is facing significant uncertainty regarding the cost and availability of alternative energy sources. Problems with the contracted supply of natural gas and the volatility of oil prices, coupled with regulatory changes made by the government, force Colbun to revise its business strategy and its sourcing mix. New legislation will replace historically regulated electricity prices for certain customers with free market prices and therefore change the conditions under which the company must operate. The case also deals with the pros and cons of various energy sources in view of their perceived environmental impact. As the company's CEO, Bernardo Larrain Matte has to take all these different considerations into account when planning Colbun's future, especially in the light of new opportunities and challenges posed by global climate change. The case analyzes the Chilean electricity sector and the operations of Colbun to illustrate the complexities associated with conducting business under the influence of global energy markets, government regulations, and environmental activism.

The case describes the history and business model of Cirque du Soleil (CdS). The case allows for a rich discussion and analysis of Cirque du Soleil's business model with an emphasis on how it interacts with that of MGM Mirage. Le Cirque and MGM's business models complement one another: MGM makes important capital investments in theaters tailored to CdS's shows that are located in the middle of MGM casinos, CdS acts as a magnet for traffic for an exclusive clientele that spends large amounts of money at the casino. CdS's partnership with MGM has been tremendously profitable. This raises the question of why hold up and opportunism have not destroyed competitive advantage for both entities: What features in CdS and MGM Mirage's business models have resulted in such a successful partnership? The case is set at a juncture where Daniel Lamarre (CdS's CEO) is looking for new opportunities for growth. Lamarre is pondering the likelihood of success of Cirque's first resident show in Asia at Tokyo Disney Resort, its entry in the Macao market, and a new partnership with two subsidiaries of Dubai World, the sovereign wealth fund of the Emirate. The question is: Can Le Cirque find a new model of complementary relationships that will be as profitable as its relationship with MGM Mirage?

After one year of operations, the new manager of a tennis pro shop and bar lounge must prepare, with the help of the company's accountant, financial statements from notes kept throughout the year. The case is intended to be an introductory exercise in accounting for simple transactions relating to assets, liabilities, revenues and expenses. Adjusting entries such as amortization and cost of goods sold are required. Students are asked to complete the accounting cycle by preparing closing entries and an income statement and balance sheet.

This is the first of a two-case series. Cirque du Soleil very successfully entered a structurally unattractive circus industry. It was able to reinvent the industry and created a new market space by challenging the conventional assumptions about how to compete. It value innovated by shifting the buyer group from children (end-users of the traditional circus) to adults (purchasers of the traditional circus), drawing upon the distinctive strengths of other alternative industries, such as the theatre, Broadway shows and the opera, to offer a totally new set of utilities to more mature and higher spending customers. **ecch European Case Awards Category Winner 2006 and ecch European Case Awards Overall Winner 2009.

Hedge fund Magnetar Capital had returned 25 percent in 2007 with a strategy that posed significantly lower risk to investors than the S&P 500. Magnetar had made more than $1 billion in profit by noticing that the equity tranche of CDOs and CDO-derivative instruments were relatively mispriced. It took advantage of this anomaly by purchasing CDO equity and buying credit default swap (CDS) protection on tranches that were considered less risky. Now it was the job of Alec Litowitz, chairman and chief investment officer, to provide guidance to his team as they planned next year's strategy, evaluate and prioritize their ideas, and generate new ideas of his own. An ocean away, Ron Beller was contemplating some very different issues. Beller's firm, Peloton Partners LLP, had been one of the top-performing hedge funds in 2007, returning in excess of 80 percent. In late January 2008 Beller accepted two prestigious awards at a black-tie EuroHedge ceremony. A month later, his firm was bankrupt. Beller shorted the U.S. housing market before the subprime crisis hit, and was paid handsomely for his bet. After the crisis began, however, he believed that prices for highly rated mortgage securities were being unfairly punished, so he decided to go long AAA-rated securities backed by Alt-A mortgage loans (between prime and subprime), levered 9x. The trade moved against Peloton in a big way on February 14, 2008, causing $17 billion in losses and closure of the firm.

On May 16, 2007, India-based Hindalco Industries, a subsidiary of AV Birla Group of companies acquired the US-Canadian aluminum giant Novelis. The acquisition was the result of an agreement arrived at between Hindalco and Novelis on February 10, 2007. Hindalco was to buy Novelis for US $6 billion in cash, making it the second biggest acquisition by an Indian company till then. The acquisition resulted in formation of a Fortune 500 company -- the world's largest producer of aluminum -- and expected to be the industry cost leader with a presence over the entire aluminum value chain from mining to final aluminum products. The case provides a general introduction to the aluminum industry including different products, players, and processes. Also there is indirect analysis of the industry and a mentioning of the critical success factors for the industry. The case covers the growth strategies of Hindalco and Novelis and briefly covers their competition as well. It also talks in detail about the various synergies of the deal and ends with the description of the situation post-deal, with Novelis turning black owing to a variety of reasons.

ReliantShare Bank is about to receive $5 billion in U.S. federal assistance. After all the negative publicity, CEO Ben Marshall knows he needs to deliver a positive message to customers and the market. His chief customer officer, Ammon Rodriguez, proposes an ad campaign thanking the taxpayers for their "investment." CFO Vernon Scott argues instead for focusing investors' and opinion makers' attention on the bank's recapitalized balance sheet and future growth prospects. What message should ReliantShare send to restore the public's confidence? Three experts comment on this fictional case study R0906B and R0906Z. An effective thank-you campaign, says University of Miami professor Michael McCullough, would need to include a clear statement of the bank's intention to translate the $5 billion into increased capacity to serve the public. But, he adds, if Ben isn't willing to eat a little crow, then Vernon is right - they'd be better off keeping their gratitude to themselves and quietly rebuilding their business. Brunswick Group chair Alan Parker asserts that ReliantShare must show contrition and acknowledge its role in creating the mess it's in - though that won't be enough. The bank will probably also need new leadership. Parker suggests that Ben get ahead of events and orchestrate a clean, orderly departure by publicly expressing his regret for shareholders' losses, ensuring that ReliantShare executives aren't walking off with extravagant bonuses, and tendering his resignation. C. William Pollard, former chair and CEO of ServiceMaster, says that Ben would make things worse if he resigned, because a new leadership team would take too much time to get up to speed. But Pollard does think that some heavy-duty PR is in order - not a campaign simply expressing gratitude, but one that emphasizes stewardship, transparency, and a restoration of trust.

ReliantShare Bank is about to receive $5 billion in U.S. federal assistance. After all the negative publicity, CEO Ben Marshall knows he needs to deliver a positive message to customers and the market. His chief customer officer, Ammon Rodriguez, proposes an ad campaign thanking the taxpayers for their "investment." CFO Vernon Scott argues instead for focusing investors' and opinion makers' attention on the bank's recapitalized balance sheet and future growth prospects. What message should ReliantShare send to restore the public's confidence? Three experts comment on this fictional case study R0906B and R0906Z. An effective thank-you campaign, says University of Miami professor Michael McCullough, would need to include a clear statement of the bank's intention to translate the $5 billion into increased capacity to serve the public. But, he adds, if Ben isn't willing to eat a little crow, then Vernon is right - they'd be better off keeping their gratitude to themselves and quietly rebuilding their business. Brunswick Group chair Alan Parker asserts that ReliantShare must show contrition and acknowledge its role in creating the mess it's in - though that won't be enough. The bank will probably also need new leadership. Parker suggests that Ben get ahead of events and orchestrate a clean, orderly departure by publicly expressing his regret for shareholders' losses, ensuring that ReliantShare executives aren't walking off with extravagant bonuses, and tendering his resignation. C. William Pollard, former chair and CEO of ServiceMaster, says that Ben would make things worse if he resigned, because a new leadership team would take too much time to get up to speed. But Pollard does think that some heavy-duty PR is in order - not a campaign simply expressing gratitude, but one that emphasizes stewardship, transparency, and a restoration of trust.

ReliantShare Bank is about to receive $5 billion in U.S. federal assistance. After all the negative publicity, CEO Ben Marshall knows he needs to deliver a positive message to customers and the market. His chief customer officer, Ammon Rodriguez, proposes an ad campaign thanking the taxpayers for their "investment." CFO Vernon Scott argues instead for focusing investors' and opinion makers' attention on the bank's recapitalized balance sheet and future growth prospects. What message should ReliantShare send to restore the public's confidence? Three experts comment on this fictional case study R0906B and R0906Z. An effective thank-you campaign, says University of Miami professor Michael McCullough, would need to include a clear statement of the bank's intention to translate the $5 billion into increased capacity to serve the public. But, he adds, if Ben isn't willing to eat a little crow, then Vernon is right - they'd be better off keeping their gratitude to themselves and quietly rebuilding their business. Brunswick Group chair Alan Parker asserts that ReliantShare must show contrition and acknowledge its role in creating the mess it's in - though that won't be enough. The bank will probably also need new leadership. Parker suggests that Ben get ahead of events and orchestrate a clean, orderly departure by publicly expressing his regret for shareholders' losses, ensuring that ReliantShare executives aren't walking off with extravagant bonuses, and tendering his resignation. C. William Pollard, former chair and CEO of ServiceMaster, says that Ben would make things worse if he resigned, because a new leadership team would take too much time to get up to speed. But Pollard does think that some heavy-duty PR is in order - not a campaign simply expressing gratitude, but one that emphasizes stewardship, transparency, and a restoration of trust.

The Essilor Korea case series focuses on the efforts of Stephen Shawler as he attempts to build a world-class joint venture between French-based Essilor and its Korean partner, Samyung Trading. Facing huge cultural barriers and partner relationship issues, Shawler must determine the targets and tactics of several change initiatives. Each of the (A), (B) and (C) cases deals with a different set of decisions for Shawler; the (D) case provides a summary of final observations.

A consultant with CARE Enterprise Partners (CEP) is tasked to provide consulting for three social enterprises in different stages of development, each benefiting from CEP funding and support. CONASE - an oatmeal manufacturer selling to the government's vaso de leche free breakfast program - asked for advice on strategic analysis and creative approaches to customer relations. Seviagro - a market linkage social enterprise aggregating produce from smallholder artichoke farmers for resale to a large processing and export company - requested support with cost analysis and accounting. Corporacion Solar - initially established as a buyer and reseller of spinach produced by Andean farmers but currently transitioning from a market linkage model to a hybrid model - was looking for assistance in reshaping its growth strategy to target major buyers in Lima with a more diversified product offering. The three for-profit social enterprises profiled in this case sample a new breed of locally-reliant, market-driven models, which could further Peru's rural development in mountainous regions like the Ancash province. Their success could be tremendously influential in charting a new approach to development in the Andes. Success here could also endorse CEP's pioneering approach to development around the world. But despite careful start-up planning and very promising triple-bottom line projections, each enterprise confronted unexpected challenges in customer relations, cost management, sourcing and distribution. As these social ventures were getting off the ground, their founders' ability to simultaneously meet their social goals and remain economically viable was in jeopardy. The case asks students to put themselves in the consultant role and reposition these social ventures for sustainable growth.

A biotech company receives umbilical cells for processing. A number of operational improvements are being considered in order to maintain the company's position and reputation in the market. Information on expected delivery dates is known. However, there is a great uncertainty around these dates. The company needs to take account of this variability when arranging for staffing. A supporting data set is available, product 709E10 for the (A) case, as well as the supplemental B case, product 909E11.

In December 2008, Erica Mills and her husband, Craig, were making plans. They had recently decided to start a family within the next 12 months and were now making decisions about how to manage their careers as they were about to take this momentous step. Erica had started Warm Fuzz Cards, a Toronto-based greeting card company, just over two years ago in 2006. The business was growing slowly but profitably. Craig was employed as a human resources executive at a large company. He was very supportive of Erica's business. In fact, he believed that the business could grow much more quickly. Erica, on the other hand, liked her slow growth strategy. However, she was not sure that she could manage the business as it was currently structured and raise a family at the same time. They were going to have to decide what to do soon. They would need time to decide how fast to grow, develop a plan, raise money, and possibly hire staff, all before they started their family. This case provides students with an example of an entrepreneurial start-up and an understanding of: 1) the decision of how fast to grow 2) the decision of how much and where to invest in a growing business 3) how management skills, knowledge and preferences can impact decision-making in entrepreneurial/family business ventures 4) how important cash management is in the early stage of growth 5) how various stages in the development of a new venture will dictate the need for the detailed financial tracking and management of a business. This case is appropriate for a 75-minute introductory entrepreneurship class.

Alain Deronde, the CEO of a French personal care company, has to choose a successor to head global product development from a diverse set of candidates with different backgrounds, strengths, and weaknesses. The candidates include Elise Bernier, Vice President of Marketing for Skin Care Products, Antoine Lambert, General Manager of Coeur Tendre (an ex-entrepreneur whose company Deronde had bought), Yang Jianguo, Country Manager of Deronde International's Chinese subsidiary, and Yves Saurac, Vice President of Product Development for Developed Markets.

The case describes the Indian business environment and the enormous opportunities and challenges presented by rural markets as they expand rapidly. It focuses on the innovative business model deployed by ITC to engage the rural population in multiple ways and create a platform for procuring commodities and providing a range of goods and services to the bottom of the pyramid in rural India. It gives students the opportunity to evaluate the future of ITC's rural business.

Dr. Bill Lemont is the new chief medical officer of a large academic medical center. During his first week on the job he has become aware of the abusive behavior and temper outbursts of a prominent orthopedic surgeon. How Dr. Lemont handles the situation will be scrutinized inside and perhaps outside the hospital.

On September 23, 2008, in the midst of an historic crisis in the U.S. financial markets, Warren Buffet's Berkshire Hathaway invested $5 billion in Goldman Sachs. Goldman CEO, Lloyd Blankfein, said: "We are pleased that given our longstanding relationship, Warren Buffett, arguably the world's most admired and successful investor, has decided to make such a significant investment in Goldman Sachs." He added that the deal "will further bolster our strong capitalization and liquidity position," calling Buffett's decision "a strong validation of our client franchise and future prospects." For his part, Buffett called Goldman "an exceptional institution" with "...an unrivaled global franchise, a proven and deep management team, and the intellectual and financial capital to continue its track record of outperformance." This case provides an opportunity to evaluate Goldman's decision to raise capital, the cost of the firm of Buffett's investment, and the decision by Warren Buffett to make the investment, all in the context of a profound market crisis that may have altered the usual metrics for such decisions.

John Mason, a principle at Oldwell Partners, was facing a decision of whether or not to invest in DiagnoFirst, a molecular diagnostics firm. DiagnoFirst's key product was a genetic test that identified a subset of prostate cancer patients with a high risk of clinical progression and death. DiagnoFirst had applied for patents, in both the U.S. and EU, for the sequence of 40 genes, the new methodology for gene amplification, and the specific mechanics of the genetic tests. Mason's decision to invest in DiagnoFirst was based in part on the likelihood of obtaining patents and in part on the projected cash flows of the business under various scenarios. This case examines issues of intellectual property in science, international differences in patent law, and the decision-making process of venture capital in biotechnology deals.

Although the global trend toward liberalization of electric utilities forced Enel, the largest power company in Italy, to give up some of its assets in its home base, it also opened up many opportunities abroad, including in Russia, one of the largest electricity markets in the world. The case outlines Enel's internationalization strategy and then focuses on one piece of the company's strategic puzzle of global expansion: acquisition of major power-generation assets in the course of the break-up of RAO UES, the Russian electricity monopoly. The case highlights the decision-making process by the company executives in the context of possible political risks to foreign investment in Russian strategic industries and economic risks to investment in the yet-to-be-formed liberalized and deregulated electricity market in Russia.

Reliance Baking Soda is Stewart Corporation's oldest and most established product. The new Domestic Brand Director needs to create a 2008 marketing budget that delivers a profit increase of 10% over 2007 levels. She must first evaluate the effectiveness of past consumer and trade promotions and determine if a price increase will have net bottom line benefits. Then she must decide on the optimal allocation of her marketing budget, taking into account the brand's apparent "cash cow" role in the Household Division of Stewart Corporation. Students are expected to complete a quantitative assignment: create and defend a budget.