Ivey Publishing

New Venture Creation: Entrepreneurship for the 21st Century

Spinelli, S.; Adams, R.J.,9/e (United States, McGraw-Hill Irwin, 2012)
Prepared By CaseMate Editor,
Chapter and Title Chapter Matches: Case Information
Chapter 1:
The Global Entrepreneurial Revolution for a Flatter World

J. Robert Mitchell, Ken Mark

Product Number: 9B14M015
Publication Date: 1/24/2014
Revision Date: 5/1/2015
Length: 6 pages

The president of General Mills Canada wants to build a culture of innovation in his firm. Prior to a senior management meeting in 2010 to review the company’s plans for 2011 and beyond, he met with the vice-president of Human Resources and asked him to provide feedback and suggestions about what the organization could do to change its corporate culture. A conservative organization with a collegial atmosphere where consensus and support were essential to moving projects ahead, General Mills Canada had developed an analysis-based, detail-oriented culture that was not necessarily conducive to innovation. This case provides an opportunity to engage in a discussion about the uncertainty faced by senior management in terms of specifically how to build a culture of innovation. While the senior leaders know they want to build a culture of innovation, the real question is how they should go about doing this. Also available is supplement case 9B14M016.

Teaching Note: 8B14M015 (20 pages)
Industry: Manufacturing
Issues: Culture; innovation; change management; marketing; human resources; Canada
Difficulty: 5 - MBA/Postgraduate

Kanika Gupta, Melissa Leithwood, Oana Branzei

Product Number: 9B13M103
Publication Date: 9/26/2013
Revision Date: 9/26/2013
Length: 9 pages

SoJo is an online resource hub — optimized for web and mobile — focused on helping early-stage social innovators turn their ideas into action. Founded in Canada as a for-profit venture in 2010, the company depends mainly on volunteer part-time staff and competes for traffic in cyberspace with its own content providers. Many skeptics doubted the idea would ever work: why would content providers forego traffic on their own sites by relinquishing their “good stuff” to SoJo? Yet by 2012, with over 2,000 active users, 50 content partners, 1,300 Twitter followers, 80,000 articles viewed and more than 1,000 unique pieces of content that earned global praise from traditional business media outlets, SoJo is well positioned to grow even further and faster. However, its founder and chief catalyst, an award-winning social entrepreneur, is anxious to make the company self-sustaining by generating revenue through product and service extensions and by increasing its user base a hundred-fold. How can such a social enterprise be modeled to support the pace of growth it needs to remain the one best resource for change-makers the world over?

Teaching Note: 8B13M103 (11 pages)
Industry: Social Advocacy Organizations
Issues: social enterprise; social innovation; social change; youth entrepreneurship; Canada
Difficulty: 4 - Undergraduate/MBA

James McMaster, Jan Nowak

Product Number: 9B09A008
Publication Date: 5/13/2009
Revision Date: 5/10/2017
Length: 21 pages

This case analysis traces the establishment and subsequent operation of FIJI Water LLC and its bottling subsidiary, Natural Waters of Viti Limited, the first company in Fiji extracting, bottling and marketing, both domestically and internationally, artesian water coming from a virgin ecosystem found on Fiji's main island of Viti Levu. The case reviews the growth and market expansion of this highly successful company with the brand name FIJI Natural Artesian Water (FIJI Water). The company has grown rapidly over the past decade and a half, and now exports bottled water into many countries in the world from its production plant located in the Fiji Islands. In 2008, FIJI Water was the leading imported bottled water brand in the United States. In the context of great marketing success of the FIJI brand, particularly in the U.S. market, the case focuses on how the company has responded to a number of corporate social responsibility (CSR) issues, including measuring and reducing its carbon footprint, responsibilities to key stakeholders, and concerns of the Fiji government with regard to taxation and transfer pricing issues. The case provides a compelling illustration of how CSR challenges may jeopardize the sustainability of a clever marketing strategy.

Teaching Note: 8B09A08 (11 pages)
Industry: Manufacturing
Issues: Environment; Corporate Responsibility; Marketing Communication; Transfer Pricing; International Marketing; Greenwashing; Green Marketing; Brand Positioning
Difficulty: 4 - Undergraduate/MBA

Chapter 2:
The Entrepreneurial Mind: Crafting a Personal Entrepreneurial Strategy

Marina Apaydin, Hend Mostafa, Mariam Mohamed Sherin, Mariam Ali Mobarak, Amal Mohsen Fahmy, Dina Sameh Labib

Product Number: 9B13M098
Publication Date: 3/31/2014
Revision Date: 3/27/2014
Length: 7 pages

This is the second case in the Azza Fahmy series. This case and the three others in this series (9B13M097, 9B13M099 and 9B14M023) can be used together or on a standalone basis.

This case series features a female Egyptian entrepreneur who faces the challenge of developing her self-titled jewellery brand. In this case, the entrepreneur realizes the importance of having a clear organizational structure with different departments and a clear chain of authority. As a result, she hires her daughter as the managing director to take on the responsibility of developing a mission, vision and explicit organizational structure. This restructuring allows the company to grow further, which leads the entrepreneur to consider her opportunities in the international market.

Teaching Note: 8B13M098 (10 pages)
Industry: Other Services
Issues: Internationalization; institutionalization; alliances; Egypt
Difficulty: 4 - Undergraduate/MBA

T.N. Swaminathan, Arun Thamizhvanan

Product Number: 9B13M085
Publication Date: 9/20/2013
Revision Date: 9/10/2013
Length: 14 pages

Jade Magnet was India’s largest creative crowdsourcing platform. It had grown from an entrepreneurship project idea of two MBA students to one that had completed more than 700 projects for 200 brands through 3,000 providers that offered a range of creative services. As 2011 was coming to a close, the founders were preparing for a meeting with their mentor and angel investor to discuss a number of issues including whether to grow the business by expanding domestically in India and/or expanding internationally into the Middle East. A decision to enter the Middle East would raise further questions concerning market knowledge, competitors, external funding sources, joint ventures and branding.

Teaching Note: 8B13M085 (10 pages)
Industry: Information, Media & Telecommunications
Issues: Co-creation; mentoring; small and medium enterprises (SME); business models; growth strategy; India
Difficulty: 5 - MBA/Postgraduate

Jean-Louis Schaan, Huanglin Wang

Product Number: 9B09M057
Publication Date: 12/11/2009
Revision Date: 9/21/2011
Length: 19 pages

The president and chief executive officer (CEO) of Holey Soles - a developer, manufacturer and distributor of injected-molded footwear - was optimistic and upbeat. Sales had grown at 300 per cent in each of the past two years, it ranked number four in a leading publication's 2006 Canada's Emerging Growth Companies, and the CEO herself was a finalist for the 2007 Ernst & Young Entrepreneur of the Year Award. Sustaining the momentum that had been building since the company had been bought in 2004 was proving to be a challenge. Fast growth was stretching the capabilities of Holey Soles in all areas: securing financing, sourcing, developing new markets, maintaining high quality, expanding the product portfolio and management talent. The CEO wondered what the available options, priorities and next steps would be to continue to build a strong foundation for growth, and to reach her aggressive target of $40 million in sales by 2009.

Teaching Note: 8B09M57 (10 pages)
Industry: Manufacturing
Issues: Strategy; Planning; Corporate Strategy; Market Strategy; Growth
Difficulty: 4 - Undergraduate/MBA

Chapter 3:
The Entrepreneurial Process

Andrew Karl Delios

Product Number: 9B13M138
Publication Date: 3/24/2014
Revision Date: 3/21/2014
Length: 14 pages

JOG Sports, a sports apparel and sports marketing business, has crossed the psychologically important threshold of $1 million in annual sales. Although the company was started as a hobby and side interest of the chief executive officer (CEO) and main founder, management of the company soon became his only occupation. The scale of the company increased quickly, with the sports apparel business growing in product lines, geographic scope of sales and diversity within products. Meanwhile, the sports marketing arm also grew as the CEO organized new and larger ice hockey tournaments. The CEO needs to make some important decisions regarding the future growth of the company, including issues of strategy formulation and strategy implementation, an explicit process within the rapidly growing company.

Teaching Note: 8B13M138 (8 pages)
Industry: Arts, Entertainment, Sports and Recreation
Issues: Growth; strategy formulation; implementation; Thailand
Difficulty: 4 - Undergraduate/MBA

Saikat Banerjee, Amit Aneja

Product Number: 9B13A045
Publication Date: 1/14/2014
Revision Date: 1/10/2014
Length: 14 pages

ONergy, a for-profit social enterprise in the renewable-energy-based products industry is poised to scale up its operations — namely, providing electricity to the underserved, bottom-of-pyramid market in India. Creating a brand in this market has proved difficult, as competition comprises many large and small players. However, given the government’s support of renewable-energy-based products, the company expects substantial and continuous growth and aims to carve out a prominent position in this up-and-coming market. ONergy views investment in brand building as a way to ensure better acceptance by consumers and it is exploring innovative branding strategies that may be adopted by start-up social enterprises to create unique brands in a strategically profitable way. The key question now facing ONergy’s founder is how to maintain brand-building momentum and take the brand to the next level.

Teaching Note: 8B13A045 (7 pages)
Industry: Social Advocacy Organizations
Issues: Start-up branding; social enterprise; brand development; brand execution; India
Difficulty: 5 - MBA/Postgraduate

Kenneth G. Hardy

Product Number: 9B06A004
Publication Date: 3/29/2006
Revision Date: 9/9/2009
Length: 20 pages

For many years two entrepreneurs have run a successful chefs school in combination with Ontario's apprenticeship program, their two private restaurants and the support of a few generous patrons. However, as they approached eventual retirement, they had no successors in sight and no teaching building apart from their restaurants. A professional fund-raising firm said that the various interested parties might raise $600,000 to help fund a teaching building but the total need of $2 million would be out of reach. The entrepreneurs were looking for a marketing and fund raising campaign to raise $2 million.

Teaching Note: 8B06A04 (6 pages)
Industry: Educational Services
Issues: Funding; Education; Marketing Communication; Strategic Planning
Difficulty: 4 - Undergraduate/MBA

Chapter 4:
Clean Commerce Is an Opportunity Sea Change

Peter W. Moroz, Simon Parker, Edward Gamble

Product Number: 9B14M030
Publication Date: 3/24/2014
Revision Date: 4/2/2014
Length: 12 pages

In 2014, two friends have launched tentree (TT), a Canadian entrepreneurial venture that sells an environmentally sustainable and trendy brand of apparel. For every product sold, TT plants 10 trees in locations around the world. Although TT is still in its infancy, it is already experiencing huge growth. The entrepreneurial founders now face several challenges: how to keep pace with the growing demand; how to plant as many trees as they can while staying true to their sustainable, environmental philosophy; how to break into the U.S. and other markets; and where to source their product.

Teaching Note: 8B14M030 (7 pages)
Industry: Manufacturing
Issues: Social enterprise; media; sustainability; growth; Canada; United States
Difficulty: 4 - Undergraduate/MBA

Cara C. Maurer, Valentina Bardorf

Product Number: 9B13M127
Length: 18 pages

In December 2012, the senior management team of Whole Foods Markets, Inc. was contemplating the company’s options for international expansion. Headquartered in Austin, Texas, the company was a natural and organic foods supermarket that was known as, and trademarked as “America’s Healthiest Grocery Store.” Since 1977, the company had grown from a single small store to a multinational chain with a presence in Canada and the United Kingdom. Its goal was to achieve a total of 1,000 stores by 2022 across all markets. Now, counting on the demand for organic products from the growing demographic of well-educated and wealthy professionals concerned about obesity and its related health issues, senior managers were wondering if it was time to expand further into Canada and, if yes, into which provinces. With unions being a clear factor in a Quebec expansion, would it be possible to enter the province without risking cultural inconsistency? Would its current U.S. team facilitate the expansion, or should a Canadian management team be developed? These issues must be resolved before the company can move forward.

Industry: Retail Trade
Issues: Organic food industry; international expansion; growth strategy; Canada; United States
Difficulty: 4 - Undergraduate/MBA

Chris Laszlo, Abdel Latif Ladki, Abraham Weiner

Product Number: 9B13M125
Publication Date: 12/20/2013
Revision Date: 12/20/2013
Length: 8 pages

Ecovative Designs (Ecovative), a start-up company in upstate New York, uses an innovative process to combine agricultural waste and mycelium (mushroom “roots”) to grow forms for use in a wide variety of applications, especially a protective packaging material. Not only does this new product replace the need for the environmentally harmful alternative, extruded polystyrene, but the production process is less energy intensive. It exemplifies the cradle-to-cradle design indicative of a sustainably embedded product and attractive to companies looking to reduce their carbon footprint. In just a few years, Ecovative has expanded from a lab to a large facility funded partly through research grants and partly from contracts with two large corporations. In 2013, the partners are considering whether to sign a contract with Sealed Air, one of the largest distributors of packaging materials in the world, but the deal would mean relinquishing control over the only profitable segment of their company. They are considering alternative growth strategies to find the one that fits best with their goal: to have the largest impact on the planet while remaining profitable.

Teaching Note: 8B13M125 (10 pages)
Industry: Manufacturing
Issues: Sustainability; science, biomimicry; United States
Difficulty: 5 - MBA/Postgraduate

Chapter 5:
The Opportunity: Creating, Shaping, Recognizing, Seizing

Susan Fleming, Alyssa W. Goldman

Product Number: 9B14C022
Publication Date: 5/2/2014
Revision Date: 4/23/2014
Length: 12 pages

In fall 2009, the new president and chief executive officer of PAR Springer-Miller Systems, based in Stowe, Vermont, is tasked with leading the most significant innovation effort the company has undertaken since its founding in 1984. The company is a leading provider of property management, point-of-sale and spa management systems for high-end hotels, resorts, spas and casinos worldwide, but its legacy products are based on outdated technology and subject to increasing customer complaints; at the same time, the global recession has negatively affected the high-end market. In his first year, the new president has made significant progress in restructuring the organization and shifting its culture to a more entrepreneurial one. He is ready to begin the development of an entirely new product but has to decide on strategy, in particular deciding on the best market on which to focus the new software product and then mapping out a plan to execute its development and launch. How can he elicit a radical innovation from a team of management and employees so culturally rooted in their past accomplishments and legacy products? Should he look for a technology partner and develop the new product in a different location? Can the legacy products be kept up and running long enough for the new product to generate sufficient sales that they can be retired? These are the issues that must be addressed or the company may well face a dire future.

See B Case 9B14C023.

Teaching Note: 8B14C022 (16 pages)
Industry: Professional, Scientific, and Technical Services
Issues: Innovation; technology; hospitality; leading culture change; United States
Difficulty: 4 - Undergraduate/MBA

Margaret Sutherland, Tashmia Ismail

Product Number: 9B14M026
Publication Date: 5/12/2014
Revision Date: 5/12/2014
Length: 11 pages

SABMiller, the world’s second largest brewer, has developed a business model in Mozambique that represents a radical departure from the firm’s traditional approach to beer production. Despite this multinational’s well-developed global supply chains and heavily centralized processes, it has disrupted both established processes and products and has, instead, innovated to produce a cassava-based beer in an effort to serve the low-income consumers who comprise the bulk of the African economic pyramid. In a marked departure from corporate best practices, the manufacturing process begins outside of the brewery and in the vicinity of the scattered and rural cassava farming plots.

Teaching Note: 8B14M026 (23 pages)
Industry: Manufacturing
Issues: Innovation; low income markets; bottom of pyramid; Mozambique
Difficulty: 5 - MBA/Postgraduate

Mei Qi, Lieven Demeester

Product Number: 9B13D020
Publication Date: 2/24/2014
Revision Date: 2/24/2014
Length: 13 pages

Founded in 1973 with a vision of inclusion, integration and normalization, Monnikenheide had pioneered a series of innovative approaches to improve the quality of life of people with mental disabilities. It had introduced some of its practices to local partners in China, India and Indonesia and now had the most sought-after facilities in Belgium for families with special-needs children and other family members. At the age of 69, the co-founder of Monnikenheide felt the necessity to plan for the transition for Monnikenheide, and decided to appoint her third son to be the director of the board. Her son and the board were confronted with how to evaluate the options for the transition. Should it continue as an independent organization or join a larger group with adequate organizational capabilities? How should Monnikenheide go about meeting its financial targets? Should Monnikenheide play a bigger role globally and, if so, how?

Teaching Note: 8B13D020 (7 pages)
Industry: Social Advocacy Organizations
Issues: Integration; inclusion; innovation; Belgium
Difficulty: 4 - Undergraduate/MBA

Chapter 6:
Screening Venture Opportunities

Mridula Anand, Anand Nandkumar, Charles Dhanaraj

Product Number: 9B13M004
Publication Date: 4/16/2013
Revision Date: 4/16/2013
Length: 7 pages

AWARD WINNING CASE - Indian Management Issues and Opportunities Award, 2013 European Foundation for Management Development (EFMD) Case Writing Competition.The Embrace case series provides an engaging context to understand social innovation, by taking students through a sequence of critical decisions from opportunity analysis and market feasibility study to formulating a competitive strategy and developing business models for growth. The focus of the case is on an innovative idea to solve the problem of a high number of fatalities in premature births in rural India, and the potential for an affordable product.

The case is structured as a four-part series:

  • Part A: Opportunity Identification. The setting is an MBA classroom where five teams have been given five ideas and the students are asked to match each idea to each team. The focus is on how to identify and evaluate an appropriate opportunity given a unique entrepreneurial team, its composition, and its prior experience. Often, entrepreneurs discount the critical role that team-task fit plays in subsequent success.

  • Part B: Market Feasibility Analysis (9B13M005). The social problem associated with neonatal care in rural India is presented and the economics of providing reasonable care for premature babies is discussed. Is it possible to find an affordable and profitable price point, and make the project sustainable?

  • Part C: Competitive Strategy (9B13M006). The students are taken through an external analysis of the potential competition. This calls for a close analysis of what the competitive advantage of the venture is and whether it is sustainable. It forces the students to consider other available neonatal care options in the market, as well as to think about the IP issues they could face.

  • Part D: Building the Business Model (9B13M007). The team must decide between manufacturing the product in-house or outsourcing to vendors. Also, issues of distribution and sales require consideration.

Teaching Note: 8B13M004 (16 pages)
Industry: Health Care Services
Issues: Emerging markets; affordable innovation; business plan; social entrepreneurship; India
Difficulty: 5 - MBA/Postgraduate

Anil Nair

Product Number: 9B09M019
Publication Date: 5/22/2009
Revision Date: 5/4/2017
Length: 18 pages

IMAX was involved in several aspects of the large-format film business: production, distribution, theatre operations, system development and leasing. The case illustrates IMAX's use of its unique capabilities to pursue a focused differentiation strategy. IMAX was initially focused on large format films that were educational yet entertaining, and the theatres were located in institutions such as museums, aquariums and national parks. However, IMAX found that its growth and profitability were constrained by its niche strategy. In response, IMAX sought to grow by expanding into multiplexes. Additionally, IMAX expanded its film portfolio by converting Hollywood movies, such as Harry Potter and Superman, into the large film format. This shift in strategy was supported by the development of two technological capabilities - DMR for conversion of standard 35 mm film into large format, and DMX to convert standard multiplexes to IMAX systems. The shift in strategy was partially successful, but carried the risk of IMAX losing its unique reputation.

Teaching Note: 8B09M19 (11 pages)
Industry: Arts, Entertainment, Sports and Recreation
Issues: Business Policy; Strategic Positioning; Industry Analysis; Corporate Strategy
Difficulty: 4 - Undergraduate/MBA

James M. Hagen

Product Number: 9A99A037
Publication Date: 4/13/2000
Revision Date: 5/23/2017
Length: 17 pages

The CEO of Ben & Jerry's Homemade, Inc. needed to give sales and profits a serious boost; despite the company's excellent brand equity, it was losing market share and struggling to make a profit. The company's product was on store shelves in all U.S. states, but efforts to enter foreign markets had only been haphazard with non-U.S. sales accounting for just three per cent of total sales. The CEO needed to focus serious attention on entering the world's second largest ice cream market, Japan. An objective of Ben & Jerry's was to use the excess manufacturing capacity it had in the U.S., and it found that exporting ice cream from Vermont to Japan was feasible from a logistics and cost perspective. The company identified two leading partnering options. One was to give a Japanese convenience store chain exclusive rights to the product for a limited time. The other was to give long-term rights for all sales of the product in Japan to a Japanese-American who would build the brand. For the company to enter Japan in time for the upcoming summer season, it would have to be through one of these two partnering arrangements.

Teaching Note: 8A99A37 (6 pages)
Industry: Manufacturing
Issues: Strategic Alliances; Market Entry; International Marketing; Corporate Strategy
Difficulty: 4 - Undergraduate/MBA

Chapter 7:
Opportunities for Social Entrepreneurship

Oana Branzei, Marlene J. Le Ber, Patrick Shulist

Product Number: 9B14M046
Publication Date: 5/7/2014
Revision Date: 5/7/2014
Length: 9 pages

In the aftermath of the 2008 financial crisis, the not-for-profit sector in Ontario was forced to shift from a provider of social needs to a creator of social opportunities for communities doubly hit by rising unemployment and falling social supports. The Ontario Trillium Foundation moved to fund innovative, collaborative programs involving not-for-profit organizations, businesses and governments in creating viable social enterprises. Ottawa, London and Sarnia were three communities faced with different, but still difficult economic times, and each had responded to the crisis by proposing alternative models of social transition. In 2013, representatives from the not-for-profit sector in these cities joined with the Richard Ivey School of Business to present a proposal that promised they would work collaboratively, learn from each other, document the entire process and develop tools to prepare and guide many others. Would the Trillium Foundation support such a creative and ambitious project? See supplemental cases 9B14M046B.

Industry: Social Advocacy Organizations
Issues: Financial crisis; poverty; social innovation; collaboration; Canada
Difficulty: 4 - Undergraduate/MBA

Sandeep Goyal, Amit Kapoor, Rajen Gupta

Product Number: 9B14M048
Publication Date: 5/6/2014
Revision Date: 5/6/2014
Length: 16 pages

More than one-third of India remained without electricity or received less than eight hours of electricity per day. To fight energy poverty, Boond was in the business of providing lighting solutions to the low-income population in rural India. By 2013, it had created a network of four hubs (energy centres) and impacted the lives of more than 50,000 people across two states in India through its solar energy systems. It had forged non-traditional partnerships with regional rural banks and community-based organizations and its plan was to shift from the inception phase to the growth phase in 2013–2014. The aim was to set up 30 hubs covering more than 50 districts in the states of Rajasthan and Uttar Pradesh by 2015. This required evaluating the transformational challenges and creating an action plan to address them without losing sight of the social mission. Key obstacles included attracting social investors, extending its reach, and finding and retaining skilled employees willing to operate in small towns and villages.

Teaching Note: 8B14M048 (16 pages)
Industry: Utilities
Issues: Social entrepreneurship; social enterprise; business model; market building strategy; India
Difficulty: 5 - MBA/Postgraduate

Michael Goldman, Jennifer Lindsey-Renton

Product Number: 9B13A052
Publication Date: 4/28/2014
Revision Date: 4/24/2014
Length: 13 pages

AWARD WINNING CASE - 2014 Emerald/AABS Case Study Competition. In December 2012, the CEO of the professional services company Business Systems Group (BSG) called his management team together to evaluate the firm’s continued sponsorship of the BSG Triathlon Series. The previous five years of the sponsorship were considered a worthwhile investment by the business, although the relationship with Triathlon South Africa (TSA) was becoming increasingly strained. The case charts the growth of BSG’s business in South Africa and the United Kingdom, as well as the evolution of the sponsorship and relationship with TSA. The decisions facing BSG were whether to renew the sponsorship and build towards the Rio Olympics in 2016, continue with the BSG Triathlon Series without TSA sanction or exit the firm’s involvement in the sport.

Teaching Note: 8B13A052 (9 pages)
Industry: Information, Media & Telecommunications
Issues: Sport marketing; sponsorship objectives; relationship quality; renewal; exit; South Africa
Difficulty: 4 - Undergraduate/MBA

Ilan Alon, Everlyne Misati

Product Number: 9B11A022
Publication Date: 6/8/2011
Length: 14 pages

Oded Carmi was a social entrepreneur striving for a “green Bali.” He started Sari Organik as a model farm intended to grow according to market demands and to benefit the local community while serving as an educational centre for small-scale farmers in the region. Thirteen years later, the idea was not as well embraced as he had hoped. The case discusses some of the challenges the entrepreneur was facing as the founder and owner of Sari Organik farm and the restaurant Warung Bodag Maliah (“overflowing basket”). His main challenge was to replicate and sustain his organic rice-farming model across Bali and eventually other parts of Indonesia. His initial thoughts involved some options: (a) to utilize the established village system and its leadership to re-introduce traditional rice-farming culture in Ubud, Bali, and eventually Indonesia; (b) to introduce a new model such as micro-franchising through which he would recruit a number of local farmers and provide them with the resources to grow rice organically; (c) to go into a joint venture with the few existing organic rice farmers in the region; and (d) to expand his business as a sole proprietor. The case may be a good starting point for a discussion on the impact of modernization on a traditional society and the role of business in society. Carmi, a native of Israel, tried to revive traditional farming techniques that were more sustainable and healthy. He realized he had to come up with a strategy soon.

Teaching Note: 8B11A022 (6 pages)
Industry: Agriculture, Forestry, Fishing and Hunting
Issues: Sustainable Development; Social Entrepreneurship; Micro-franchising; Rice Farming; Agriculture; Bali, Indonesia
Difficulty: 4 - Undergraduate/MBA

Chapter 8:
The Business Plan

Francis Ayensu, Nicole R.D. Haggerty, Julianna Faircloth, Helen Fisher, David MacNicol

Product Number: 9B14M041
Publication Date: 4/2/2014
Revision Date: 7/30/2018
Length: 4 pages

In October 2011, a young entrepreneur in Ghana faced a critical moment. Given his degree in marketing and his experience running a retail clothing store, he was confident he could branch out and start his own photocopying service in his hometown of Koforidua, where there was a distinct undersupply of photocopying services. The proposed store would be located near All Nations University, whose students and faculty would provide a stable demand for his offerings. Now he must perform a breakeven analysis and return on investment calculation to assess if he should go forward with the venture.

Teaching Note: 8B14M041 (8 pages)
Industry: Other Services
Issues: breakeven analysis; return on investment; new venture; emerging markets; Ghana
Difficulty: 3 - Undergraduate

Raymond Pirouz, Janice Zolf

Product Number: 9B14A002
Publication Date: 3/20/2014
Revision Date: 3/20/2014
Length: 12 pages

The founder of a bricks-and-mortar kitchen accessories retail store, Jill's Table, is considering the expansion of her existing information-based website to an e-commerce presence, but wonders whether the factors that have led to her current success can be replicated in the virtual world. Students are asked to make decisions related to translating brand values from the real world to the virtual world; overcoming technological hurdles; addressing design issues in terms of the user experience; developing a content marketing and digital promotions strategy, including social media and email marketing; determining a pricing strategy; planning for fulfillment and returns; handling customer service and measuring performance.

Teaching Note: 8B14A002 (3 pages)
Industry: Retail Trade
Issues: Online retailing; etailing; ecommerce; Internet marketing; Canada
Difficulty: 4 - Undergraduate/MBA

Chapter 9:
The Entrepreneurial Leader and the Team

Simon Parker, Ramasastry Chandrasekhar

Product Number: 9B14M063
Publication Date: 5/22/2015
Revision Date: 5/22/2015
Length: 13 pages

Entravision, a leading Spanish-language broadcasting company in the United States that targets Hispanic Americans, has just set up a digital analytics division called Luminar, which uses Big Data to focus a company’s marketing to a particular set of consumers. The idea of launching Luminar has been mooted by an outsider who is a friend and protegé of the company’s founding chairman. As the incumbent president of the new division, he is grappling with some major issues. How should he secure the buy-in of line and staff managers at Entravision? How should he find a structural fit between Entravision and Luminar? How should he leverage business opportunities beyond digital analytics? What kind of entry barriers can he build so that Luminar retains its first mover advantage?

Teaching Note: 8B14M063 (6 pages)
Industry: Information, Media & Telecommunications
Issues: Big data; digital analytics; corporate venturing; United States
Difficulty: 4 - Undergraduate/MBA

Ting Wang, Paul W. Beamish, Zhou Liman, Luo Jingjing

Product Number: 9B14C009
Publication Date: 2/14/2014
Revision Date: 2/14/2014
Length: 10 pages

In February 2012, a human resources appointment attracted wide attention from China's domestic lubricating oil industry. The iconic general manager of Shell Tongyi (Beijing) Petroleum Chemical Co., Ltd. officially took the position as the chief executive officer (CEO) of Huo's Group, thus returning to work for his former boss, the founder of the former Tongyi Lubricating Oil. Before the merger between Tongyi and Shell in 2006, the private entrepreneur and the professional manager had jointly created the well-known Tongyi Lubricating Oil and were renowned as perfect partners by many in the business media. In 2012, their hope was to achieve glory again on this wider business platform - Huo's Group. Was this likely?

Teaching Note: 8B14C009 (9 pages)
Industry: Manufacturing
Issues: Leadership; personnel; professional manager; family business; China
Difficulty: 4 - Undergraduate/MBA

Sunita Mehta, Surya Kant Sharma

Product Number: 9B13C040
Publication Date: 1/8/2014
Revision Date: 12/20/2013
Length: 17 pages

An infrastructure conglomerate is facing serious challenges following its construction of a world-class airport. The group's leader possesses unique managerial skills, coherent leadership and clear vision, but the airport must contend with an unstable political and economic environment, both nationally and internationally, as well as a number of delays and bureaucratic hurdles. As a result of these external factors, revenues have been much lower than expected, in spite of the overall success of the group's groundbreaking airport project. The company's leader knows that it will take stringent steps and corrective action to confront these issues effectively.

Teaching Note: 8B13C040 (7 pages)
Industry: Transportation and Warehousing
Issues: Airports; leadership; India
Difficulty: 5 - MBA/Postgraduate

Simon Parker, Matthias A. Tietz

Product Number: 9B11M043
Publication Date: 6/21/2011
Revision Date: 11/1/2011
Length: 6 pages

The founder of the Lakkard Leather Company was proud of his business, and attributed much of its success to his own leadership style, which did not allow for anyone else’s participation in important decisions. When he was badly injured in a car accident, his son stepped in and kept the business going. Without any intention to take over, the son altered the leadership and operations of the company in the space of a few months, so that by the time the founder returned, the company had changed and his role was significantly reduced. The son, in the meantime, grew to like his interim position and believed he did a better job than his father. Both men became locked in a power struggle; yet the company faced several key decisions that had to be taken in terms of expansion, product offering, and sale opportunities.

Teaching Note: 8B11M043 (6 pages)
Industry: Manufacturing
Issues: Family Succession; Leadership Conflict; Leather; Family Business; Germany
Difficulty: 4 - Undergraduate/MBA

Tom A. Poynter, Paul W. Beamish

Product Number: 9B08M037
Publication Date: 4/15/2008
Revision Date: 5/18/2017
Length: 12 pages

Victoria Heavy Equipment (Victoria) was a family owned and managed firm which had been led by an ambitious, entrepreneurial chief executive officer who now wanted to take a less active role in the business. Victoria had been through two reorganizations in recent years, which contributed to organizational and strategic issues which would need to be addressed by a new president.

Teaching Note: 8B08M37 (7 pages)
Industry: Manufacturing
Issues: Growth Strategy; Organizational Structure; Leadership; Decentralization
Difficulty: 4 - Undergraduate/MBA

Chapter 10:
Ethical Decision Making and the Entrepreneur

Oana Branzei, Kim Poldner

Product Number: 9B10M089
Publication Date: 11/26/2010
Length: 16 pages

AWARD WINNING CASE - Latin American Business Cases Award, 2012 European Foundation for Management Development (EFMD) Case Writing Competition. This case illustrates the founding and growth of Veja, the first eco-sneaker company in the world, in the broader context of the evolution of the fashion industry and the emergence of the eco-fashion movement. By September 2010, the five-year old venture had become a reference in ethical fashion, and an inspiration for other eco-fashion start-ups. Its path, its successes and its aspirations made it a perfect acquisition target; like-minded companies like Timberland were already feeling out the two founders.

Sebastien Kopp and Francois-Ghislain Morillion were still fulfilling their dream. They had fun trying to craft ever more sustainable business approaches. They were still excited about the opportunity to develop solutions or workarounds for socially- and environmentally-problematic business practices. The case presents several solutions, focusing on the development of sustainable business practices in organic cotton, wild natural rubber and traditional veggie-tanned leather. The case also deals with the issue of how ventures integrate sustainable practices into a holistic and ever improving offering, which engages multiple supply chain participants (employees, consumers, suppliers, partners, even artists) in co-devising a value proposition that appeals not just to our sense of fashion, but also to our conscience. Essentially, the case is a story of fashioning identities by artfully bending consumers' appreciation towards the expression of unity with the earth and across cultures.

Teaching Note: 8B10M89 (15 pages)
Industry: Manufacturing, Social Advocacy Organizations
Issues: Corporate Responsibility; Ethical Issues; Strategy Implementation; Emerging Markets; Leadership; Strategy Development
Difficulty: 4 - Undergraduate/MBA

Anne T. Lawrence

Product Number: 9B09M011
Publication Date: 2/19/2009
Length: 11 pages

How can a biotechnology start-up navigate a complex regulatory and stakeholder terrain to bring to market an innovative product with potentially significant public health benefits? This case focuses on the challenges facing Ventria Bioscience, a small biotechnology firm based in California. The company had developed an innovative technology for growing medical proteins useful in the treatment of childhood diarrhea in genetically modified rice. The company's efforts to obtain regulatory approval in California to commercialize its invention met with a firestorm of opposition from a wide range of stakeholders, including environmentalists, food safety activists, consumer advocates and rice farmers. The case presents the hurdles faced by Ventria as it has attempted to commercialize its invention in the context of the broader debate over the ethics of plant-based medicines. This case is suitable for an upper-division undergraduate or graduate course in entrepreneurship, small business, the management of technology or biotechnology. In such a course, it is best positioned in a discussion of the regulatory environment and stakeholder relations. Alternatively, the case may be used in a segment on technology or stakeholder relationships in a course in business and society.

Teaching Note: 8B09M11 (10 pages)
Issues: Genetically Modified Crops; Stakeholders; Biotechnology; Government Regulation
Difficulty: 4 - Undergraduate/MBA

Terence Tsai, Borshiuan Cheng, Shubo Philip Liu

Product Number: 9B08M077
Publication Date: 1/12/2009
Revision Date: 6/11/2009
Length: 20 pages

As the economies of Greater China continued the process of rapid transformation and industrialization, newly industrialized countries (NICs), such as Taiwan and mainland China, experienced dramatic changes in their business settings. Accompanying the industrialization of east Asian economies, business ethics were in a state of flux, as traditional values were often swept aside to justify profit maximization. In this ever-changing business environment, what were the characteristics and benefits of Chinese business ethics? What role did they play? Could an integrity-based business practice serve as a source of competitive advantage? What business settings were supporting business ethics? Few studies have paid attention to these kinds of questions. Sinyi was one of the most successful real estate agent companies in Taiwan and mainland China. From a Confucian perspective, Sinyi's founder cultivated a people-centered culture for both its customers and employees. By applying business ethics as a central differentiating strategy, Sinyi established an excellent corporate image and was regarded by many as the role model of responsible business. Sinyi service was regarded as premier in Taiwan. Its customer satisfaction rating was also far above the industry average. Trustworthiness and fair dealing were the company's guiding principles. This was in contrast to the-then chaotic environment of the real estate industry in Taiwan, where basic trust between buyers and sellers was rare and deceit existed everywhere. Focusing on using business ethics as a central differentiating strategy, Sinyi had grown into Sinyi Group, which successfully integrated upstream, midstream and downstream industries and established a highly-acclaimed business model. Over the past two decades, Sinyi Group had expanded its operations to mainland China and forged an alliance with global real estate brokerage Coldwell Banker. The case can be used for MBA and EMBA courses in business ethics (in a module on culture and business ethics) and strategic management (in a module on strategic business ethics). This case should provoke holistic thinking and discussion on sustainable business, Confucian entrepreneurship and the relationship between business ethics and competitive advantages.

Teaching Note: 8B08M77 (13 pages)
Industry: Real Estate and Rental and Leasing
Issues: Ethical Issues; Sustainability; Management Science and Info. Systems; Human Resources Management; Corporate Social Responsibility; Differentiation; Strategy; CEIBS
Difficulty: 5 - MBA/Postgraduate

Chapter 11:
Resource Requirements

Francis Ayensu, Nicole R.D. Haggerty, Logan Burnett, Stephanie Lachance-Coward, Taylor Klimosko

Product Number: 9B14M042
Publication Date: 4/2/2014
Revision Date: 7/31/2018
Length: 9 pages

EA Financial Services was a microfinance institution in Koforidua, Ghana. In its seven months of operation, it had done well to establish a client base, before it lacked sufficient capital to meet the growing demand for new loans. Although having a growing client base is a positive sign, the lack of capital was a significant burden—the company had to begin turning down loan requests. The owner knew that potential clients would likely deal with one of his many competitors if he could not provide financial services for them. He wondered if he should first explore obtaining additional operational capital or concentrate on improving current operations. Several alternatives to addressing these issues had presented themselves. What was the best course of action?

Teaching Note: 8B14M042 (9 pages)
Industry: Finance and Insurance
Issues: microloans; human resource management; emerging markets
Difficulty: 3 - Undergraduate

Dante Pirouz, Karam Putros

Product Number: 9B13A050
Publication Date: 2/4/2014
Revision Date: 4/16/2014
Length: 10 pages

Ten years after its founding, California-based Tesla Motors is close to becoming one of the world’s premier luxury car manufacturers. Its innovative design — using carbon fibre and aluminum rather than steel to construct body and parts — and technology — lithium ion battery packs rather than gasoline for power and a simple powertrain to provide maximum acceleration — make its models treasured options for eco-friendly and tech-savvy consumers as well as wealthy professionals. Relying almost entirely on word-of-mouth promotion through social media, the company sells its cars through factory stores in upscale malls rather than through dealerships and has built service centres to provide free battery charging. However, just as it is expanding into Europe and Asia and is contemplating buying its own factory to secure its battery supply, three of its cars have burst into flames following collisions, although no one has been injured. In addition, analysts claim that the company has been covering up its lack of cash flow by using non-generally accepted accounting principles for reporting its revenue. The CEO knows that the company has tremendous potential but is struggling with public relations problems arising from the crashes and questions about its financial stability and return on investment to investors.

Teaching Note: 8B13A050 (4 pages)
Industry: Manufacturing
Issues: Electric cars; premium; sales; public relations; United States
Difficulty: 4 - Undergraduate/MBA

Chapter 12:

John S. Haywood-Farmer, Emily Hubling, Azim Remani

Product Number: 9B09D008
Publication Date: 10/21/2009
Revision Date: 9/23/2011
Length: 16 pages

A current franchisee of Marble Slab Creamery (producer of the self-proclaimed Freshest Ice Cream on Earth) was set to open his second location in Waterloo, Ontario. In a recent phone conversation with Marble Slab's Canadian president, the contentious issue of the corporate ice-cream weighing policy had come up. The franchisee was convinced that his managerial abilities and the growth potential of the new location would result in an ultimately successful franchise; however, the president had expressed hesitation at the franchisee straying from the policy. Two questions were foremost in his mind as he weighed his options: 1) What did customers truly value in the Marble Slab service concept? 2) How would the chosen weighing policy affect the customer experience? The franchisee had hopes of owning several Marble Slab franchises, and knew that his weighing policy decision could have lasting effects on his business operations and his relationship with head office.

Teaching Note: 8B09D008 (13 pages)
Industry: Accommodation & Food Services
Issues: Customer Service; Service Quality; Operations Analysis; Franchising
Difficulty: 4 - Undergraduate/MBA

Ilan Alon, Mirela Alpeza, Aleksandar Erceg

Product Number: 9B08A013
Publication Date: 8/14/2008
Revision Date: 4/20/2010
Length: 10 pages

On their return to Croatia following a six-year visit to the United States, a couple has decided to open their own coffee house, one that is new to Croatia — a California-style coffee house that offers the quality, service, product assortment, ambiance, and efficiency found in sophisticated coffee shops in developed markets, and all for a locally affordable price. The major challenge faced by the couple is how to grow. Specifically, should they consider franchising over organic growth? If so, how should they go about franchising in a country where the market is developing and where franchising is under-regulated, underdeveloped, and misunderstood?

Teaching Note: 8B08A13 (10 pages)
Industry: Accommodation & Food Services
Issues: Business Development; Retail Marketing; Corporate Governance; Human Resources Management; Franchising; Brands
Difficulty: 2 - Intro/Undergraduate

Ilan Alon, Amber Xu

Product Number: 9B06M054
Publication Date: 4/28/2006
Revision Date: 9/21/2009
Length: 11 pages

Franchising in China is a relatively new and growing phenomenon. Among the franchising pioneers in China are the large and well-known food and beverage brands such as Kentucky Fried Chicken and McDonald's. Less known, but equally important, are the non-food retailing and service industries, such as The Athlete's Foot company. This U.S. born company made early entry into China using master international franchising. As the industry continues to grow, The Athlete's Foot franchise is losing its first-mover advantage and faces increased competition from department stores and brand-specific retailers, among other challenges. The case describes franchising in China, the Athlete's Foot company, and the experiences of the Chinese master franchisee.

Teaching Note: 8B06M54 (14 pages)
Industry: Retail Trade
Issues: China; Competition; Franchising; Retailing; CEIBS
Difficulty: 4 - Undergraduate/MBA

Stewart Thornhill, Ken Mark, Jordan Mitchell

Product Number: 9B05M071
Publication Date: 4/28/2006
Revision Date: 10/1/2009
Length: 12 pages

An entrepreneur has received additional information on the Cartridge World franchising concept - a store focused on the refilling of printer cartridges. The idea for Cartridge World began in Australia in 1988 and has grown to almost 200 locations in Australia, New Zealand and the United Kingdom. The entrepreneur must look at the market opportunity in Canada and decide whether he should apply for the country's master franchise, a single franchise, or abandon the concept altogether. Students will evaluate a franchise concept based on market opportunity and the franchise contract.

Teaching Note: 8B05M71 (13 pages)
Industry: Retail Trade
Issues: Models; Franchising; Investment Analysis; Market Analysis
Difficulty: 4 - Undergraduate/MBA

Chapter 13:
Entrepreneurial Finance

Debashis Sanyal, Smita Mazumdar

Product Number: 9B14N009
Publication Date: 4/17/2014
Revision Date: 4/17/2014
Length: 11 pages

Valjibhai Stones, a supplier of quality stone chips in India, has been approached by a multinational company that needs a reliable supplier of quality stone chips for the next eight years. Accepting the order would require a capacity expansion to produce high-quality aggregate solely for the multinational company and at the cost of foregoing all of its existing business. If the offer is accepted, the company would earn substantial revenue for eight years, but would then need to seek fresh business in a highly competitive market.

Teaching Note: 8B14N009 (14 pages)
Industry: Mining, Quarrying, and Oil and Gas Extraction
Issues: Strategic cost management; cost of capital; investment decision; return on investment; economic value added; India
Difficulty: 5 - MBA/Postgraduate

James E. Hatch, Edward Chow

Product Number: 9B11N013
Publication Date: 10/28/2011
Length: 20 pages

The president and founder of the Taiwanese firm Shacom.com plans to set up an insurance scheme for low-income earners. A financial model for the operation has been created and students must assess the viability of the business, its adherence to financial regulations, and the risks that it entails.

Teaching Note: 8B11N013 (12 pages)
Industry: Finance and Insurance
Issues: Insurance; Financial Model; Financial Regulations; Taiwan; CNCCU/Ivey
Difficulty: 4 - Undergraduate/MBA

Simon Parker, Ken Mark

Product Number: 9B10M028
Publication Date: 3/22/2010
Revision Date: 5/4/2017
Length: 10 pages

Twitter has become an incredibly popular micro-blogging service since its launch in 2006. Its founders have ambitious plans for the service, and are backed by hundreds of millions of dollars of venture capital funding, which values the company at $3.7 billion in 2011. Twitter seems to attract a diverse audience of users, such as political organizers looking to disseminate information to their followers; businesses looking to reach out, in real time, to potential customers; and social users. The company charges consumers nothing for its service. By 2011, competitors have emerged, some of whom are financially strong. It remains unclear - at least to some observers - whether the company will ever make money from its service.

Teaching Note: 8B10M28 (10 pages)
Industry: Other Services
Issues: Social Networking Media; Strategic Positioning; New Venture
Difficulty: 4 - Undergraduate/MBA

Chapter 14:
Obtaining Venture and Growth Capital

Allen H. Kupetz

Product Number: 9B14M001
Publication Date: 3/14/2014
Revision Date: 3/13/2014
Length: 7 pages

An early stage investment firm is ready to launch after receiving funding from its first investor. With $400,000 in capital and twice that amount forthcoming, venVelo needs a process so it can be exposed to those seeking funding, evaluate the opportunities, make investments and mentor its portfolio clients. The challenge for venVelo’s management team is to apply the same principles in managing venVelo that it looked for in other companies seeking investment: don’t focus on being perfect; focus on getting better every day.

Teaching Note: 8B14M001 (6 pages)
Industry: Other Services
Issues: Venture capital; angel investing; United States
Difficulty: 4 - Undergraduate/MBA

Gordon K. Adomdza, David T.A. Wesley

Product Number: 9B13M013
Publication Date: 2/11/2013
Revision Date: 2/6/2013
Length: 13 pages

MassChallenge Inc. is a large non-profit startup accelerator that connects new ventures with other stakeholders within an established business ecosystem. For this new company to engage stakeholders in the numbers envisaged and create a crowd-sourced deal management system, the founders need to develop a model that brings in as many quality or attractive startups as possible. Instead of taking equity in participating ventures as traditional accelerators do, MassChallenge focuses on developing a marketplace for stakeholders to gain access to startups and for startups to access the resources provided by investors and other stakeholders, including government; angel investors, venture capitalists and lawyers; and businesses, foundations and universities. The founders also need to find ways to build MassChallenge through possible expansion and funding opportunities.

Teaching Note: 8B13M013 (6 pages)
Industry: Social Advocacy Organizations
Issues: New Venture; Venture Capital; Non-profit Organization; Government and Business; United States
Difficulty: 4 - Undergraduate/MBA

Stephen Sapp

Product Number: 9B13N007
Publication Date: 4/30/2013
Revision Date: 3/19/2015
Length: 9 pages

A small startup firm in the environmental services industry has spent the majority of its time developing its technology and overcoming the significant regulatory hurdles involved in bringing its technology to market. Having achieved success with the technology, the company must now decide which path to take to grow. The owners can try to raise the money themselves through a bank loan and do the expansion on their own terms. On the other hand, they can forge a financial partnership with a venture capital firm or a strategic partnership with another firm, or they can issue preferred shares to a local investment fund or corporate bonds to a local insurance company. These alternatives will share the risks and expense of expansion, but the company may lose some autonomy in its decision making in future.

Teaching Note: 8B13N007 (9 pages)
Industry: Administrative, Support, Waste Management and Remediation Services
Issues: Capital Raising; Debt; Equity; Venture Capital; Canada
Difficulty: 4 - Undergraduate/MBA

Simon Parker, Rocky Liu

Product Number: 9B10A013
Publication Date: 5/21/2010
Length: 6 pages

MusicJuice.net is a new website designed to bring together musicians and a fan-base in order to raise finance for new bands. It enables musicians to bypass the large established record companies and their high royalty takes, while giving fans direct contact and involvement with exciting new acts. It is an example of a venture idea transported from one country (the Netherlands) and applied in a new and larger geographical setting (North America). The case illustrates the novel crowd-sourcing business model, which is designed to raise finance from customers rather than the entrepreneur. Most importantly, the case illustrates the challenges of starting new Internet ventures and the early stage founding issues that are involved. After a long and costly delay in establishing their website, the two founders of MusicJuice.net have struggled to generate any interest or even awareness amongst online musicians and fans, despite only limited competition from other players in the marketplace - a situation, which is already beginning to change. Students are asked what the entrepreneurs behind MusicJuice.net can do to raise awareness of their service and to generate enough customers to survive.

Teaching Note: 8B10A13 (8 pages)
Industry: Arts, Entertainment, Sports and Recreation
Issues: Internet; Competition; Dominant Designs; New Venture Challenges; Startups
Difficulty: 4 - Undergraduate/MBA

James E. Hatch, Zhou Zhang

Product Number: 9B09N025
Publication Date: 10/30/2009
Length: 16 pages

The investment manager at Prairie Ventures Limited, a Saskatchewan based venture capital firm, is examining the merits of financing a management buyout of Crestline Coach, a manufacturer of ambulances and distributor of buses. Students must design a term sheet and create an appropriate financing package. Students are provided with an Excel model to assist in their analysis.

Teaching Note: 8B09N25 (28 pages)
Industry: Manufacturing
Issues: Venture Capital; Management Buyout; Valuation; Hill
Difficulty: 4 - Undergraduate/MBA

Chapter 15:
The Deal: Valuation, Structure, and Negotiation

Paul W. Beamish, Megan (Min) Zhang

Product Number: 9B12M003
Publication Date: 2/13/2012
Revision Date: 11/17/2014
Length: 11 pages

In early 2011, the senior executives of the venerable Canadian hockey stick manufacturer Sher-Wood Hockey were considering whether to move the remainder of the company’s high-end composite hockey and goalie stick production to its suppliers in China. Sher-Wood had been losing market share as retail prices continued to fall. Would outsourcing the production of the iconic, Canadian-made hockey sticks to China help Sher-Wood to boost demand significantly? Was there any other choice?

Teaching Note: 8B12M003 (15 pages)
Industry: Manufacturing
Issues: Offshoring; Outsourcing; Insourcing; Nearshoring; R&D Interface; Labour Costs; Canada; SME
Difficulty: 4 - Undergraduate/MBA

Craig Dunbar, Ken Mark, Michael Comisarow

Product Number: 9B06N007
Publication Date: 6/21/2006
Revision Date: 9/23/2008
Length: 13 pages

An entrepreneur must decide if he should bid to acquire a commercial bakery, Cake Masters, given his objectives in his search and his investors' expected returns of 20-30 per cent. If he bids, he must decide how much to bid and in what form of consideration. Students are introduced to valuation methodologies and will evaluate an acquisition or opportunity, understand the process of acquiring a small company, learn how preceding transactions are considered and learn about discounted cash flow analysis.

Teaching Note: 8B06N07 (8 pages)
Industry: Manufacturing
Issues: Entrepreneurial Finance; Valuation; Financial Analysis
Difficulty: 4 - Undergraduate/MBA

Craig Dunbar

Product Number: 9A98N013
Publication Date: 4/30/1999
Revision Date: 11/17/2011
Length: 14 pages

Canada-based Oxford Learning Centres (OLC) entered into a licensing agreement with U.S.-based Childtime Learning Centers (Childtime) where Childtime would operate OLC supplemental education programs in their facilities. In less than six months, Childtime decided to make an offer to purchase OLC. OLC's CEO must decide how to approach the impending negotiations. The case describes the North American supplement education industry, valuation considerations and private firm purchase negotiations. Detailed comparables are provided for such firms as Sylvan Learning Systems and Corporate Family Solutions. The case provides an opportunity to apply a number of valuation techniques including discounted cash flow, and multiples based on comparable firms and transactions.

Teaching Note: 8A98N13 (12 pages)
Industry: Educational Services
Issues: Mergers & Acquisitions; Joint Ventures; Education; Valuation
Difficulty: 4 - Undergraduate/MBA

Chapter 16:
Obtaining Debt Capital

Nicola Young, Karen Lightstone

Product Number: 9B13B020
Publication Date: 10/4/2013
Revision Date: 10/3/2013
Length: 8 pages

The Brooklyn Warehouse, a popular restaurant in Halifax, Nova Scotia, is cramped for space because of its popularity within its neighbourhood and as a tourist destination in the city. The restaurant is a private company with two shareholders, one of whom is not involved in operations. Because of the economic downturn, the risky nature of the business and the fact that it has been open only four years, the owners are having trouble securing financing for their expansion plans from their bank and other conventional lenders. However, while negotiating a renewal of their lease in late 2011, their landlord offered to pay for half the cost of building a patio to increase the size of the restaurant. To raise the other half, the owners turn to crowdfunding as a method of raising capital through social media by tapping into their community of friends, family and loyal customers. In return for their donation, which may vary from $100 to $2,500, sponsors are offered various packages, including free meals, a company T-shirt and their name listed on a wall of honour. However, little is known about the appropriate accounting or tax treatment for money raised in this manner. The owners had heard horror stories about businesses that used innovative ideas to raise funds only to have fines and penalties levied by government agencies for income tax and sales tax or even by the Securities Commission for improper accounting. The owners turn to their accountant for advice.

Teaching Note: 8B13B020 (10 pages)
Industry: Accommodation & Food Services
Issues: Crowdfunding; innovative financing; Canada
Difficulty: 3 - Undergraduate

Simon Parker, Ken Mark

Product Number: 9B12M097
Publication Date: 10/29/2012
Revision Date: 1/20/2020
Length: 10 pages

In 2010, a hybrid entrepreneur working at a full-time job has come up with the idea for his first product, a smartphone car stereo. He has invested $10,000 of his own money plus $3,000 from an early investor to develop his prototype. He needs to put together a viable commercialization plan and is considering crowdfunding as a viable funding source. He also needs to decide whether to distribute his product through direct sales or a traditional retail model.

Teaching Note: 8B12M097 (9 pages)
Industry: Manufacturing
Issues: Crowdfunding; Finance; Innovation; Virtual Product Development; Supply Chain, United States
Difficulty: 4 - Undergraduate/MBA

David Simpson, Colin McDougall

Product Number: 9B11N001
Publication Date: 2/3/2011
Length: 5 pages

Late in August 2004, Chris Higgins was forced into the unenviable position of determining the future of Ring-A-Wing, a London, Ontario-based fast food producer of premium chicken wings for home delivery. After making a personal loan to a friend wishing to invest in the business, the situation devolved in less than nine months from Higgins being a passive lender to being a significant investor to sitting in a bankruptcy meeting trying to determine the future of the business. The issue in the (A) case is whether the Higgins group should reopen Ring-A-Wing.

Teaching Note: 8B11N001 (4 pages)
Industry: Accommodation & Food Services
Issues: Personal Loan; Reopen; Bankruptcy; Food Delivery; Small Business
Difficulty: 4 - Undergraduate/MBA

Chapter 17:
Leading Rapid Growth, Crises, and Recovery

Justin Paul, Charlotte Feroul

Product Number: 9B10M067
Publication Date: 10/19/2010
Revision Date: 2/22/2017
Length: 20 pages

This case deals with the opportunities and challenges of Louis Vuitton, the leading European luxury-sector multinational firm, in Japan, taking into account the unique features of brand management and integrating culture and consumer behaviour in Japan. In the last decade, Japan has been Louis Vuitton’s most profitable market, but the global economic crisis has presented challenges.

Facing a weak economy and a shift in consumer preferences, Louis Vuitton has been adapting its unique strategy in the Japanese market. The days of relying on a logo and a high price seem to be gone, as there is more interest in craftsmanship and value for money. To promote sales, the company has had to launch less expensive collections made with cheaper materials. The brand has also been opening stores in smaller cities, where the lure of the logo still works.

Over the years, Japanese consumers have demonstrated fascination with and passion for the iconic brand. What have been the keys to Louis Vuitton’s successful business model in the Japanese market?

Teaching Note: 8B10M67 (8 pages)
Industry: Manufacturing
Issues: International Marketing; Strategic Management; Brand Management; Luxury Goods; Financial Crisis; Japan; France
Difficulty: 4 - Undergraduate/MBA

Paul W. Beamish, Nathaniel C. Lupton

Product Number: 9B08M049
Publication Date: 5/15/2008
Revision Date: 11/17/2014
Length: 18 pages

In April 2008, Bruce MacNaughton, president of Prince Edward Island Preserve Co. Ltd. (P.E.I. Preserves), was focused on turnaround. The company he had founded in 1985 had gone into receivership in May 2007. Although this had resulted in losses for various mortgage holders and unsecured creditors, MacNaughton had been able to buy back his New Glasgow shop/cafe, the adjacent garden property and inventory, and restart the business. He now needed a viable product-market strategy.

Teaching Note: 8B08M49 (9 pages)
Industry: Manufacturing, Retail Trade
Issues: Bankruptcy; Product Diversification; Growth Strategy; Exports; Tourism; SME
Difficulty: 4 - Undergraduate/MBA

Chapter 18:
The Family as Entrepreneur

Kavil Ramachandran, John Ward, Sachin Waikar, Rachna Jha

Product Number: 9B11M075
Publication Date: 11/18/2011
Revision Date: 6/21/2012
Length: 16 pages

Most family businesses do not survive beyond two or three generations. One of the main reasons for this short lifespan is the lack of governance mechanisms in family businesses. With better family governance, business development becomes a richer experience and continuity is ensured across generations. This case is about an Indian family business, GMR Group, which was established a quarter-century ago, and by 2010 had become one of the major diversified infrastructure organizations in the country, with large-scale interests in infrastructure (energy, roads, and airports) and manufacturing (agri-business, mainly sugar). Since its founding, the Group had come a long way, from an independent proprietary enterprise to a family-owned holding corporation with several companies under its control, along with external stakeholders. The growth of the group had been led by the entrepreneurial zeal and organizational capabilities of its founder, G.M. Rao. Having seen many family businesses breaking up for lack of adequate governance mechanisms, Rao led the way for the writing of his family business's constitution with the help of several experts in 2007. The writing process of the constitution and the policies and processes developed were optimal for maximizing GMR's performance and the family's prosperity in current and future generations. This case captures the essential processes and outcomes of writing a family business constitution.

Teaching Note: 8B11M075 (5 pages)
Industry: Other Services
Issues: Family Governance; Family Business; Family Constitution; Entrepreneurship; India; Ivey/ISB
Difficulty: 5 - MBA/Postgraduate

Paul W. Beamish, Majid Eghbali-Zarch

Product Number: 9B10M093
Publication Date: 11/12/2010
Revision Date: 9/21/2011
Length: 13 pages

In June 2010, Naser Tavazo, one of the three owner/manager brothers of both Tavazo Iran Co. and Tavazo Canada Co., was considering the company's future expansion opportunities, including further international market entry. Candidate cities of interest were Los Angeles, Dubai and other cities with a high Iranian diaspora. Another question facing the owners was where to focus on the value chain. Should the family business use its limited resources to expand its retailer business into more international markets, or to expand their current retailer/wholesale activities within Canada and Iran?

The objectives of this case are: (A) to discuss the typical problems that small companies confront when growing internationally and the implication of being a family business in this transition; (B) to provide a vehicle for developing criteria for market selection; (C) to highlight the importance of focus in the value chain regarding horizontal vs. vertical integration.

This case can be used in international business, strategic management or family business (entrepreneurship) courses. In international business, it may be used as an internationalization case and positioned early in the course. In a strategic management course, it might be positioned in sections dealing with managerial preferences, or diversification.

Teaching Note: 8B10M93 (9 pages)
Industry: Agriculture, Forestry, Fishing and Hunting, Manufacturing
Issues: Market Selection; Family Business; Internationalization; Imports; Exports; SME
Difficulty: 4 - Undergraduate/MBA

Ilan Alon, Kimberley Howard

Product Number: 9B09C015
Publication Date: 7/16/2009
Length: 9 pages

In late May 2009, Albert Bohemier, CEO of Survival Systems Limited (SSL), located in Dartmouth, Nova Scotia, paced the deck of the training pool at Survival Training Simulation Theatre wondering how best to transition the company to new leadership. During the past five years, attempts at succession planning had been unsuccessful. As the leader of the company for over 25 years, Bohemier was ready to retire, but there were many aspects of succession planning to consider. Bohemier's personal criteria for incoming leadership were threefold: it had to be good for SSL's existing clients, a positive move for the company as a whole and good for the current team.

Teaching Note: 8B09C15 (6 pages)
Industry: Educational Services, Manufacturing
Issues: Succession Planning; Organizational Change; International Business
Difficulty: 4 - Undergraduate/MBA

Paul W. Beamish, Lambros Karavis

Product Number: 9A99M003
Publication Date: 2/20/1999
Revision Date: 5/24/2017
Length: 16 pages

A family-owned brick manufacturer has built an export business to Japan and other Asian markets from zero to 10 per cent of its volume in seven years. The case examines the company's export strategy and organization in light of the recent Asian economic crisis and the reasons for their competitive success both in Australia and Asia. The managing director is raising the question of whether it is time to change their regional export strategy and organizational structure.

Teaching Note: 8A99M03 (9 pages)
Industry: Manufacturing
Issues: Organizational Structure; International Marketing; International Business; Exports
Difficulty: 4 - Undergraduate/MBA

Chapter 19:
The Harvest and Beyond

Richard Howard, Kimberley Howard

Product Number: 9B13N008
Publication Date: 6/12/2013
Revision Date: 7/27/2017
Length: 11 pages

A wealth management company in Chile that provided financial advisory services to high net worth individuals and pension funds was at a crossroads. After 15 years in business, the company had become very successful. To increase its value without incurring undue corporate financial risk, the owner, who has invested most of his personal wealth in the company, has the opportunity to make an investment in a similar wealth management company in Colombia. What are the risks and rewards of such a complex international merger and acquisition for this medium-sized enterprise operating in an uncertain political and economic environment?

Teaching Note: 8B13N008 (13 pages)
Industry: Finance and Insurance
Issues: Company valuation; minority acquisitions; Chile; Colombia
Difficulty: 4 - Undergraduate/MBA

Christopher Williams, Melissa Davis

Product Number: 9B11M014
Publication Date: 2/18/2011
Revision Date: 9/29/2017
Length: 17 pages

Infusion had grown over the 10 years between 2000 and 2010 to become a $50 million per year international software services business with 350 employees. The president was wondering how he could move the company towards becoming a $100 million per year international business through a mix of organic growth and initiatives with partners. The entrepreneurial vision of its original founders lived on in many ways, but the company had found it necessary to install an administrative structure with a professional management layer to underpin delivery in both domestic and international markets. It had not been an easy ride. The company had encountered problems in India, and there had been periods of staff attrition and challenging deliveries to clients. Clients were beginning to pull the company in new directions. The pace of technology change appeared to be relentless. While entrepreneurship was still encouraged in the form of an idea incubator called Infusion Angels, the CEO was faced with some critical decisions.

Teaching Note: 8B11M014 (9 pages)
Industry: Administrative, Support, Waste Management and Remediation Services
Issues: Personal Development; Entrepreneurial Behaviour; Growth Strategy; Technological Change
Difficulty: 4 - Undergraduate/MBA

Bo Bernhard Nielsen, Torben Pedersen, Jacob Pyndt

Product Number: 9B08M014
Publication Date: 5/29/2008
Revision Date: 5/10/2017
Length: 21 pages

ECCO A/S (ECCO) had been very successful in the footwear industry by focusing on production technology and assuring quality by maintaining full control of the entire value chain from cow to shoe. As ECCO grew and faced increased international competition, various value chain activities, primarily production and tanning, were offshored to low-cost countries. The fully integrated value chain tied up significant capital and management attention in tanneries and production facilities, which could have been used to strengthen the branding and marketing of ECCO's shoes. Moreover, an increasingly complex and dispersed global value chain configuration posed organizational and managerial challenges regarding coordination, communication and logistics. This case examines the financial, organizational and managerial challenges of maintaining a highly integrated global value chain and asks students to determine the appropriateness of this set-up in the context of an increasingly market-oriented industry. It is suitable for use in both undergraduate and graduate courses in international corporate strategy, international management, international marketing, supply-chain management, cross-border strategic management and international business studies in general.

Teaching Note: 8B08M14 (15 pages)
Industry: Manufacturing
Issues: Marketing Management; Operations Management; Global Strategy; Vertical Integration; Value Chain; Competitor Analysis
Difficulty: 4 - Undergraduate/MBA

Tevya Rosenberg

Product Number: 9B07N007
Publication Date: 4/2/2007
Length: 14 pages

The chief financial officer (CFO) of Workbrain Corporation (Workbrain) must prepare a memo for the upcoming board of directors meeting. Workbrain, a venture-backed company, has grown substantially since its founding in November 1999. Now the CFO must communicate to the board whether it is time to consider an initial public offering (IPO) and, if so, in which exchange market the stock should be offered. The company must also consider what financing alternatives are available (including maintaining the current venture financing arrangement) and whether the company needs to raise money at all. The CFO is thinking about the memo, knowing that his words will have considerable impact on the company.

Teaching Note: 8B07N07 (7 pages)
Industry: Administrative, Support, Waste Management and Remediation Services
Issues: Initial Public Offerings; Valuation; Exit Strategy; Venture Capital
Difficulty: 4 - Undergraduate/MBA