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The case is based on data collected from in-depth interviews, and from company, third-party and regulatory–agency documents. In addition to prior conversations over several years between the company founders and the lead case writer, there were several rounds of interviews in 2023 with the surviving founder and in-depth interviews with eight of the company’s key managers. Company documents reviewed included bylaws, organization charts, profit and loss statements and staffing statistics, all from founding to sale. Also reviewed were documents and evaluations of company operations and performance produced by the merger & acquisition firm that handled the company’s eventual sale. The company owner insisted on complete disguise of the company and all its members and prohibited disclosure of detailed proprietary financial data.

At the strategic level, this case is about how the unique, complex and changing healthcare environment created opportunities and threats to which a women-owned and run start-up company, Aloe Health (AH), had to respond to become and remain successful. At the personal level, the case illustrates what it takes for an entrepreneur and leader having clinical but no real business acumen to start, expand and turn around a company and ultimately position it for a successful acquisition, continually learning and adapting along the way.

The case describes how two women who were friends for many years started up a home healthcare company later in their lives and grew it into the largest women-owned business of its kind in the USA. Based in the Southwest USA, an area with many factors conducive to success, they navigated the many complexities of US Medicare regulations to create a fully-integrated home healthcare company providing unskilled personal care, medically skilled homecare and end-of-life hospice services to thousands of clients. The case provides background on the founders and the home healthcare industry context, and details the steps taken to start up and build the company into a fairly successful enterprise; one of the largest of its kind in the region. The (A) case ends with one of the founders facing a crisis brought on by the death of her co-founder and the revelation of some significant organization dysfunctions, leaving her unable to profitably exit the company and unsure of whether she would be able to turn things around. The students are tasked with making recommendations for what she should do next.

The (B) case brings events up to fall 2023, describing the steps the surviving founder took to transform her leadership style and the company’s systems and culture, and to navigate the due diligence process associated with preparing for an (ultimately very successful) acquisition. It also shares the owner’s “lessons learned,” and briefly notes the current state of the acquired company and the many AH employees that it continues to employ.

The case provides ample information for students to appreciate the company’s strategy and the challenges of operating in the highly regulated health care industry. However, it is probably even better suited to illustrating the “soft” issues of new-venture management, such as the tendencies of founders to overload themselves by micro-managing their growing venture and not adapting to expansion, and for those with clinical backgrounds to focus on caring for patients and employees while overlooking business essentials and organization systems. It also illustrates how business partnerships among strong-willed individuals can produce dynamics in the founding team similar to a “marriage,” with affection and complementary talents, yet also tensions. It further illustrates the process of a successful turnaround strategy, and the “due-diligence” challenges of preparing for an acquisition.

This case has a range of course applications at multiple education levels. Although it is probably best suited for graduate and executive-level programs, it can also be selectively used in undergraduate classes, particularly if populated by upperclassman. It is ideally suited to courses on entrepreneurship and on healthcare management. For an entrepreneurship course, it could be positioned mid-way through the semester, after covering topics relating to the entrepreneurial mindset, founding teams and business models. It can be used to get the class focusing on competitive issues and the challenges of starting up a company in a highly regulated environment, on entrepreneurial founding-team characteristics and management tendencies (e.g. micro-management control tendencies), on transition issues from start up to growth stages and on exit strategies.

We believe this case is also well suited as a teaching exercise for students pursuing healthcare management studies in baccalaureate and graduate programs (MBA, MHA, MHS) in which instructors wish to broaden student exposure to a real-world scenario that focuses on entrepreneurial behavior in a healthcare setting (a topic of increasing interest to healthcare practitioners and managers given the current trend toward provider formation and ownership of health facilities). Here, the case may be used to focus on the complexities of the healthcare industry, the key differences between various healthcare service business models and on the challenges that technically (clinically) trained professionals often face when trying to manage a healthcare business. Ideal placement of the case would be in a capstone course, after students have been introduced to their functional coursework in topics such as introduction to management, organizational behavior and leadership, financial management and strategic thinking. The case also challenges students to apply knowledge obtained in specialized coursework in healthcare systems and policy, industry regulation, as well as healthcare reimbursement methods.

The case also may be used in organization behavior courses to focus on team, cultural and leadership issues and in strategic management courses to focus on strategy implementation. In addition, there are enough family business themes in the case (even though Aloe is not actually a family business) to use it in a course on managing family businesses.

The primary aim of this study is to resolve a longstanding debate concerning the impact of takeover premiums on post-acquisition performance. Specifically, we aim to examine how acquirers' marketing capabilities and payment methods moderate the relationship between takeover premiums and post-acquisition performance.

This study employs linear regression to examine the relationship between acquirers' marketing capabilities, payment methods, takeover premiums and post-acquisition performance in the Chinese manufacturing industry. Data for the analysis were collected from both mergers and acquisition (M&A) announcements and the China Stock Market & Accounting Research Database (CSMAR), covering 1,169 acquisitions from 2012 to 2021.

The results indicate that acquirers' marketing capabilities moderate the impact of takeover premiums on post-acquisition performance. When acquirers possess strong marketing capabilities, takeover premiums increase post-acquisition performance. Conversely, when acquirers lack strong marketing capabilities, takeover premiums are not significantly related to post-acquisition performance. Additionally, it is noteworthy that takeover premiums show a positive correlation with post-acquisition performance, irrespective of the payment methods employed by acquirers for target firms.

Given that takeover premiums are essential for acquiring resources from target firms, it is crucial to maximize the value of these acquired resources. Our findings suggest that acquirers with weaker marketing capabilities before the deal should consider a more conservative approach to pricing target firms.

The purpose of this paper is to assess the success factors in a large organization that contributed to the success of organizational transformation (OT) through business diversification using a complex adaptive systems (CAS) framework. This assessment is done to determine how well the CAS framework can explain the success factors that contribute to the success of large-scale organizational change in complex organizations. If the CAS framework is capable of explaining the organizational factors that lead to the success of change implementation, the managers can employ this framework to increase the likelihood of success while implementing change.

This study uses qualitative research methodology. The data were collected from the case study organization (CSO) through 40 in-depth semi-structured interviews and analyzed using thematic deductive analysis approach.

The CAS framework explains the success factors that contribute to the success of OT through business diversification.

This paper provides a comprehensive guide for change implementation by combining the insights from the CAS framework with identified success factors (for change implementation) from the case organization.

The originality of this paper lies in extending the principles of existing change models, for successful change implementation by using the CAS framework. The prescribed change models and the CAS framework/complexity theory are two distinct sets of literature; this paper successfully merges the two to develop a comprehensive set of guidelines for change implementation. By doing so, this paper highlights the fact that alternative, non-linear, change approaches, instead of conventional multistep change models, can be effective in implementing large-scale organizational change successfully given the complexities of current organizational environments.

Fraud within the procurement process remains a persistent challenge, resulting in substantial financial losses and lack of social justice. This paper underscores the significance of records for the integrity of the procurement practices and proposes using blockchain technology to mitigate records fraud. Analyzing international regulations this paper highlights their emphasis on proper records management for promoting transparency, accountability, and integrity of procurement procedures. This paper aims to contribute to a comprehensive understanding of the relationship between records management and procurement accountability while addressing blockchain technology's innovative use in mitigating records forgery and omission.

This research involves a comparative analysis of international regulations investigating their directives on the relevance of records in public procurement and a survey of records fraud cases in the Brazilian context to illustrate the significance of the problem and to indicate how blockchain technology can be applied as a solution to ensure accountability and prevent records forgery and omission.

The findings highlight the explicit importance ascribed to proper records management by international regulations, and indicates how blockchain technology can serve as a valuable resource to reduce the records fraud opportunity in public procurement.

The research does not consider context-specific regulations. The survey of frauds is limited to the Brazilian context.

This research introduces a pioneering approach by investigating the use of blockchain technology to combat records forgery or omission in public procurement procedures.

The purpose of this study is to investigate the relationship between the absorptive capacity (AC) of a firm and project success (PS), with particular attention to the mediating role of customer knowledge management capability (CKMC) and the moderating role of environmental complexity (EC). By using data collected from Turkish SMEs across different sectors, the study seeks to understand how AC impacts project success, how CKMC mediates this relationship, and how EC moderates the link between AC and CKMC. The research contributes to both theory and practice by providing insights into these relationships and suggesting future research directions.

This study focuses on Small and Medium-sized Enterprises (SMEs) in Turkey, specifically within the cities of Istanbul, Ankara, Izmir, and Konya. To gather data, the researchers utilized a non-probabilistic convenience sampling method and distributed self-administered surveys to a selected pool of 918 respondents including shift supervisors, project managers, and team members within these SMEs. The surveys were translated to Turkish to avoid language issues. Out of the surveys distributed, 401 valid responses were collected, resulting in a response rate of 43.68%.

The main findings of the study indicate that a firm’s absorptive capacity (AC) positively impacts project success and customer knowledge management capability (CKMC). Furthermore, CKMC plays a mediating role, positively influencing project success. Additionally, the study reveals the moderating effect of environmental complexity (EC) on the relationship between AC and CKMC, suggesting that as EC becomes more complex, it strengthens the link between AC and CKMC. Moreover, CKMC was found to mediate the moderating effect of EC on the relationship between AC and project success, emphasizing the significance of environmental complexity in this interaction.

This study’s limitations stem from its cross-sectional approach, which limits the ability to establish causal relationships between the constructs of absorptive capacity (AC), customer knowledge management capability (CKMC), and project success. It does not examine other potential mediators, such as customer relationship capability and innovation capability. Furthermore, the existing literature on this topic is scarce, suggesting a need for further research, particularly on constructs like team skills for managing CKMC. There is also an unexplored area around the effects of different forms of complexity, such as resource and technical complexity. Finally, further research is needed to understand how SMEs, which often face resource constraints, leverage AC in different functional domains for successful new product development.

The study’s findings have significant practical implications for SMEs, highlighting the importance of absorptive capacity (AC) and customer knowledge management capability (CKMC) in promoting project success, particularly under conditions of environmental complexity. As businesses navigate uncertain environments, external knowledge acquisition becomes crucial for improvement and innovation. Efficient transformation of this knowledge can enhance project success rates. Thus, firms should cultivate a proactive, innovative, and risk-taking climate. Also, firms should regularly assess their AC and CKMC in the face of shifting stakeholder expectations and market competition. The ability to detect, integrate, and apply external knowledge in product and service development can significantly enhance project success rates.

This study’s originality lies in its exploration of the complex interplay between a firm’s absorptive capacity (AC), customer knowledge management capability (CKMC), environmental complexity (EC), and project success (PS). By examining Turkish SMEs across various sectors, the study uncovers the mediating role of CKMC and the moderating role of EC in the relationship between AC and PS. Furthermore, it reveals how the effect of AC on PS through CKMC strengthens with increasing environmental complexity. These findings offer fresh insights into the complexity theory and the factors influencing project success, providing a unique perspective for both academics and practitioners, with practical implications for managing SMEs in complex environments.

This study explores the role of knowledge management capabilities (KMCs) in enhancing competitive advantage and organisational performance in fashion retailing. Employing the resource-based view (RBV) and knowledge-based view (KBV) perspectives, it investigates the interplay between managing knowledge effectively and fashion products’ complexity. The goal is to provide new insights into optimising KMC for greater agility and success in the fashion retail industry.

The study analysed survey data from 322 US fashion retail professionals using partial least squares structural equation modelling (PLS-SEM).

The results revealed that knowledge infrastructure capability enhanced both competitive advantage and organisational performance significantly. In contrast, knowledge process capability did not significantly affect competitive advantage, it improved organisational performance. Importantly, product complexity moderated the relationship between competitive advantage and organisational performance negatively.

This study underscores the necessity for retailers in the fashion industry to enhance their KMC to bolster competitive advantage and organisational performance, while it also acknowledges product complexity’s effect on these strategies. These insights offer actionable guidance for industry leaders to optimise knowledge management to navigate the rapidly evolving retail landscape.

This research offers novel insights into the interplay of product complexity and KMC in fashion retail and highlights the unique effects on competitive advantage and organisational performance valuable for both academia and industry.

This study aims to evaluate the impact of product complexity, product involvement and product diagnosticity on shaping webrooming behavior in emerging fashion retailing, with product knowledge acting as a moderator and information processing, and uncertainty reduction theory contributing as the theoretical foundation.

In total, 371 responses were collected from fashionable consumers who had recently purchased fashion products via a purposive sampling approach, and the data were analyzed using structural equation modeling and PROCESS macro.

The results illustrated that product complexity had a significant impact on product involvement and product diagnosticity, and consumer attitude. Attitude, in turn, had a favorable impact on webrooming behavior. Likewise, product diagnosticity and product involvement had a positive mediating association between product complexity and consumer attitude. Product knowledge significantly moderated the relationship between product complexity, product involvement, and consumer attitude, but it exhibited a negative moderation association between product complexity, product diagnosticity, and attitude.

This study represents a novel research endeavor, shedding light on webrooming from the perspective of product attributes in fashion retailing. It contributes to the growing body of literature on fashion marketing by analyzing the rapidly evolving phenomena of webrooming behavior within the multichannel context of the fashion industry.

While existing literature extensively explores manufacturing firms expanding into services, little is known about the modes of servitisation, the means by which they carry it out. This paper concentrates on acquisitions as a mode of servitisation. Post-acquisition integration is when the potential of an acquisition is realised. The paper therefore aims to categorise types of integrations following the acquisition of servitised firms and discusses their consequences for servitisation.

The empirical part of the paper is based on two case studies, each involving the acquisition of servitised firms. Both acquirers changed their integration approach over time.

The paper conceptualises three types of integrations: rhetorical, insulated and transformative integrations, indicating whether and how the acquirer becomes servitised following the integration. These highlight the analysis of integration based on business models and customer orientation in relation to servitisation.

This paper contributes to research on servitisation by emphasising acquisitions as a mode of servitisation and conceptualising three integration types related to business models and customer orientations. Furthermore, the paper highlights how an acquirer's servitisation leads to new offerings targeting new customers, as opposed to strengthening existing relationships.

Drawing on organizational design theory and organizational learning theory, this paper aims to examine component technology (CT) and the interaction between CT and experiential learning (EL) effects on the degree of integration (DI) of cross-border technological acquisitions.

Using a sample of 267 firms consisting of 229 acquirer firms who started cross-border technological acquisitions from developed economies and 38 acquirer firms who initiated cross-border technological acquisitions from emerging economies over the period of 1993–2016, this study adopts a value chain framework to measure the acquirers’ acquisition integration degree for the investigation of the effects of CT and the interaction between CT and EL.

First, this paper finds CT in cross-border technological acquisitions exerting a positive influence on the acquirer firm’s likelihood of the DI implementation, in line with the organizational design theory. Second, in view of organizational learning theory, this study finds EL and the combined effect of CT and EL to have an inverse influence on the DI.

The results imply that the moderating role of EL significantly optimizes decision choices for an acquirer firm for integration implementation strategies in the form of DI, such as full integration (structural integration), partial integration and no integration (structural separation), which appears to be crucial for cross-border technological acquisitions.

This study contributed to international business strategies by shedding light on the importance of the DI for an acquirer firm that undertakes a cross-border technological acquisition with a CT target firm. This study explains why structural integration might be necessary in cross-border technological acquisitions regardless of the costs of disruption it imposes, as well as the contexts in which it becomes less important or unnecessary. The study disclosed that the increase in the likelihood of DI because of CT depends on the EL of the acquisition company in the host country environment and fluctuates with the prior acquisition knowledge and EL of the host country. Combining two cross-border technological acquisition’s literature streams, such as CT and EL, this study enlightens the importance of organizational learning theory and theory of organization design strategic direction making on acquisition integration implementation strategies.

This study aims to examine the multidimensional nature of institutional distance as a driver of acquisition decisions in emerging markets. Then, this study aims to offer a nuanced perspective on the role of its various formal and informal dimensions by taking into account the potential contingency role played by a firm’s context experience.

Building on institutional economics and organizational institutionalism, this study explores the heterogeneity of institutional distance and its effects on the decision to enter emerging versus advanced markets through cross-border acquisitions. Thus, institutional distance is disentangled into its formal and informal dimensions, the former being captured by regulatory efficiency, country governance and financial development. Furthermore, our framework examines the moderating effect of an acquiring firm’s experience in institutionally similar environments, defined as context experience. The hypotheses are analyzed on a sample of 496 cross-border acquisitions by Italian companies in 41 countries from 2008 to 2018.

Findings indicate that at an increasing distance in terms of regulatory efficiency and financial development, acquiring firms are less likely to enter emerging markets, while informal institutional distance is positively associated with such acquisitions. Context experience mitigates the negative effect of formal distance and enhances the positive effect of informal distance.

This study contributes to institutional distance literature in multiple ways. First, by bridging institutional economics and organizational institutionalism and second, by examining the heterogeneity of formal and informal dimensions of distance, this study offers a finer-grained perspective on how institutional distance affects acquisition decisions. Finally, it offers a contingency perspective on the role of context experience.