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For General Motors (GM), the year 2004 brought a wide variety of new challenges that added to an already complex business environment. The industry structure was changing quickly. Demand and supply projections for motor vehicles had promised substantial increases in sales and profits, but suddenly the optimism faded. China's new membership in the World Trade Organization created expectations of a level playing field for foreign investors, but - at least in the short run - major barriers remained. Government intervention persisted, particularly the requirement of a joint venture partner, competition from government-owned assembly firms, and arbitrary rules such as sector-specific credit restrictions. Violation of intellectual property, with the copying of foreign automobile designs and false-branding of parts, was an ongoing threat. Also, inflation was increasing and the government was unsure whether and how to use monetary and fiscal policies. The government had purposely kept the renminbi undervalued for many years. Pressure was building for the government to change its foreign exchange rate policy, but a higher renminbi would suddenly decrease GM China's international competitiveness.

Coastal Uniforms provides a cleaning service for work uniforms. In an effort to improve profitability, the company institutes a series of measures of increasingly questionable ethics, causing a downward spiral of the company's corporate culture and budget/incentive system. A sales representative for the company must decide if he should quit his job or consider legal action in response to the changes to the incentive program.

RRR, a $1 billion private equity fund, is trying to decide how much to bid for Pacific Salmon Inc. and how to finance the acquisition.

Discusses the bankruptcy reorganization process, with an emphasis on valuation and capital structure. Serves as the basis for a bankruptcy reorganization game that has been used for many years in Creating Value Through Corporate Restructuring, a second-year finance course. The game is played in Chapter 11, after previous efforts to complete an out-of-court restructuring failed. Students are divided into five claimholder groups--secured debt holders, unsecured senior debt holders, etc.--and these groups, under the supervision of a bankruptcy judge, must negotiate a satisfactory plan of reorganization or suffer significant incremental losses through liquidation. Provides the background information with respect to Delaware's history, prospects, and financial condition necessary to play the game. A rewritten version of an earlier case.

The Leveens started a high-end catalog business as a small home-based venture in 1987. It grew into a nationally recognized, $60 million company, offering products that ranged from unique pens and pencils to leather briefcases and fully furnished offices. In 1999, it reached saturation in the U.S. marketplace, and the owner-founders must consider new avenues of growth, including expansion of the catalog business into international markets; private labeling products for a large, national retailer; retailing in partnership with others; or retailing through company-owned, free-standing stores.

The investment-strategy decisions of a Darden Capital Management student-portfolio management team in 2004 are examined. Case materials allow students to estimate CAPM-based expected returns using market data. The case focuses on introducing the portfolio-allocation decision; exploring the relevance of various investment-risk metrics; developing the intuition of diversification, market risk, and the capital-asset-pricing model; building judgment on how to appropriately estimate the CAPM parameters using available market data; and discussing the fundamental concepts of market efficiency.

Capital One CEO and founder, Rich Fairbank, had much to be proud of both in terms of his and co-founder Nigel Morris' accomplishments and the accomplishments of Capital One. However, he and Morris didn't want to rest on their laurels. In 2000, they called a meeting with their senior managers to assess the company's strategy. Specifically, Fairbank wondered whether the company had executed on the optimal strategy throughout its history and whether the company's strategy was consistent, yet fluid and flexible, during changing times. Also, had the various functions optimally aligned with the company's strategy? Other financial companies imitated Capital One's successes. Fairbank wanted to ensure that the company remained ahead of the competition, while maintaining its culture of testing and innovation.

Focuses on the search for opportunity, the generation and evaluation of business concepts, creation of a business plan, and the start-up process. Follows experienced entrepreneur Christy Jones as she combines her business skills and personal experience to generate new business concepts. Jones' assessment of the market opportunity for the egg harvesting and cryopreservation business was based on firsthand observations of the needs of young professional women and extensive field and scientific research. The plan, which won the HBS business plan contest in 2004, provides a good example of the form and substance of a well-crafted plan. Provides an opportunity to discuss the underlying social issues that make it attractive for young women to purchase "fertility insurance" while they pursue professional careers.

Describes the career path and insights of Stanley Lapidus, a successful serial entrepreneur in the medical and life sciences industry. Lapidus is the founder of Cytyc Corp. (NASDAQ: CYTC) and EXACT Sciences (NASDAQ: EXAS) and is currently the CEO of his third start-up, Helicos BioSciences. Gives students insight into the skills and experiences that are helpful in building successful medical technology companies.

Simon Property Group launched a hostile tender offer for upscale Taubman Centers. This case discusses issues of Real Estate Investment Trust (REIT) valuation, financial policy, and corporate governance, as Robert Taubman and his company's independent directors must decide whether to accept the $20 per share offer and, if not, what other action to take.

A renowned manufacturer and designer of niche vehicles for major automobile companies has traditionally competed on flexibility using a highly skilled design and manufacturing workforce and low levels of automation. However, the European auto market is threatened with a shakeout. The director of operations must decide whether to accept an offer from Mitsubishi to become the exclusive European manufacturer of a sport utility vehicle. The order would more than double the company's manufacturing volume and relieve pressure to replace models currently in production. However, the fit of the order with existing manufacturing strategy is poor, and major changes in facilities and equipment as well as people and systems would be required. The case is suitable for use in an operations class to introduce or apply basic concepts in operations strategy or to discuss operations capability and strategy with executives.

Unicon supplies pre-cast concrete products to the flourishing construction market in Hong Kong. The deputy managing director, is evaluating an opportunity to pursue a blanket regulatory approval for Unicon's custom-designed concrete products with its largest customer, the Hong Kong Housing Authority. This opportunity promised to offer cost savings to both Unicon and this customer, although questions remain about the broader implications for Unicon's manufacturing operations and other customers. At the same time, management must develop a plan to expand its manufacturing capacity if Unicon hopes to capitalize on the rapidly expanding market and fend off new competitors from mainland China.

The general manager of COM DEV's Chinese facility which assembled satellite components, was trying to decide whether the plant should seek ISO 9000 certification. Not only did ISO 9000 registration have a number of advantages and disadvantages, but as well, the decision in the Chinese plant would have some implications for COM DEV's other facilities in Canada and Europe. In addition, if the general manager decided to seek ISO 9000 certification for his plant, he would have to decide which level of certification to seek.

The chief executive officer of Brent-Harbridge Developments had just received confirmation of several upcoming property auctions. Brent-Harbridge Developments was currently asset short after some successful recent disposals, which made the CEO keenly interested in three of the properties being auctioned. She needed to prepare a bidding strategy in order to try to acquire at least one or perhaps more of the development properties being auctioned. (A Microsoft Excel data file is available for use with this case, product 7A98E042.)

Management at PCB Manufacturing, Inc. was concerned that a significant number of faulty printed circuit boards were reaching their customers. Should the testing system be changed so that the number of bad boards being shipped decreases? (A Microsoft Excel model is available for use with this case, product 7A98E043.)

The CEO of Northern Napa Valley Winery must forecast aggregate sales of red table wine for the product year, as well as month-by-month sales for the same period. This case provides the student with the opportunity to try to forecast a time series characterized by distinct trend and seasonality with almost nine years of monthly data available. (A Microsoft Excel data file is available for use with this case, product 7A98E046.)

The newly appointed division head must examine organizational or communication problems within a division of a billion dollar semiconductor manufacturer. The manager made a decision, which an employee emotionally responded to, creating the potential for conflict within the department. Cross-cultural issues come into play given that the manager, although originally from China, was educated and gathered extensive experience in the West and was thus considered an expatriate by his employees. The manager must also examine the effect of organizational culture on an employee's behavior.

Alpha Gearing Systems Shanghai Co., Ltd. (Alpha Shanghai), a joint-venture between Alpha Gearing Systems of Illinois, USA (a large producer of gearing products), and Kai Li Machine Systems (one of China's largest manufacturers of gearing systems for mopeds and motorcycles), had invested several millions of dollars in tooling in the hope of winning a major contract. The general manager of Alpha Shanghai had made the decision that the next round of negotiations would either significantly advance, or sever, the relationship between Alpha Shanghai and San Yu Mopeds, a large Chinese moped producer, and a customer which Alpha Shanghai had hoped would become one of its largest. The case decision revolves around Alpha Shanghai's senior management perspectives, strategy and assumptions which affected the negotiating process, and specifically how their communication patterns were effected by their experience and culture.

It had been almost a decade since the first article surfaced in the media alleging that factories sub-contracted by Nike in China and Indonesia were forcing workers to work long hours for low pay, and for physically and verbally abusive managers. The article was the seed of a media campaign that created a public relations nightmare for the company. A financial crisis in Asia and intense competition in the domestic market contributed to a decline in Nike's revenue and market share after three years of record performance. Though no direct correlation could be proven between the consumer's negative perceptions of Nike and the company's decline in market share and stock, it certainly did not help in their efforts to establish themselves as the global leader in a hotly competitive industry. A linear overview of the adverse publicity that Nike received, and the perspectives of Nike senior management, demonstrates to students the importance and elements of the timely development of an effective media and consumer relations campaign.

The newly appointed general manager of Alfonso's Department Store has initiated a review of Alfonso's newspaper marketing, in part to gain familiarity with the store's marketing practices, but also to look for ways to enhance both sales and market share. (A Microsoft Excel data file is available for use with this case, product 7A99E002.)