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This paper aims to discuss the role of a grassroots initiative in engaging local people in an innovative place-making fringe festival. Festivals such as the Carnival of Flowers are a major tourism event for regional cities like Toowoomba and contribute to place-making through marketing and engagement. Within the professional management of such events, there exists space for innovation and genuine community involvement, which can assist in authentically reflecting place identity. Avant Garden (2007-2008) models a successful grassroots fringe festival, initiated by community members in response to the challenge of long-term drought. Avant Garden engaged locals and tourists in a positive re-imagining of place via site-specific public artworks generated by the community.

A survey of 504 visitors to Toowoomba’s public gardens during the first weekend of the 2007 Carnival of Flowers examined how Avant Garden was received by the community.

The paper suggests that fringe festivals can provide place-making capacity in broadening festivals as an expression of local identity. Fringe festivals can allow authentic community engagement within a mainstream festival and can indicate longer-term innovations to place branding.

The paper includes implications for festival managers about effective ways to engage community in grassroots initiatives which reflect innovation, authenticity and greater diversity.

The paper provides a study of a visual arts fringe festival in the context of place management. The project described allows a “bottom up” approach to engaging the local community which provides authenticity and broadens the scope of an existing mainstream garden festival.

This paper seeks to redress the imbalance between technology and information by first examining three models of Knowledge Management with reference to the law firm context. Secondly, it examines the relationship that exists between the harnessing of corporate knowledge and the overall goals of a law firm, and in particular law firm profitability. Finally, given the existence of this relationship, it provides some signposts for the development of a Law Firm Knowledge Management Strategy.

Groupon, an online coupon company, was one of many companies that considered an initial public offering (IPO) during what might be a second technology/internet/social media IPO boom in 2011. Some companies chose to postpone their IPOs, while others took advantage of the media attention focussed on technology companies, and in particular, social media firms. Should investors hop on the tech IPO bandwagon, or hold off to better evaluate the long-term prospects of tech companies, and in particular social media companies? Would the valuation of Groupon justify an investment in IPO shares?

The case was researched from secondary sources, using Groupon's IPO filing information, news articles about the IPO and industry research sources, such as IBIS World.

This case is appropriate for an advanced undergraduate or MBA corporate finance or investment elective. Most introductory finance classes do not have the time to cover later chapters in a finance textbook, where information about IPOs is generally found. It could also be used at the end of a core finance course, where the instructor wanted to introduce this topic through a case study of a hard-to-value internet-based company to illustrate the difficulties in setting IPO prices. The case could also be used in an equity analysis class, an entrepreneurial finance class or an investment class, to spur discussion about valuing an internet company and choosing appropriate investments for pension fund investing. This case could also be used in a strategy class, focussing on the five forces question, and eliminating the valuation question.

There is a great deal of literature about IPOs and their long-term performance. An excellent source is Jay R. Ritter's research, http://bear.warrington.ufl.edu/ritter, which has a longer time period and more data than could be contained in this case. IPO puzzles include persistent undervaluing of IPOs; in other words, the offer price is lower than, and sometimes substantially lower than, the first day close price. A second issue is the generally poorer long-run performance of companies after their IPO when compared to similar firms that did not do an IPO.

Marketing Management, Business Strategy and Promotion & Advertising.

Associated degree, undergraduate and graduate students as well as executives from profit-making organizations.

Groupon is the world's largest daily-deal Web site and a pioneer in the group-buying industry. The major feature of the company's business model is that merchants use Groupon as a platform to offer coupons with a discounted price, and the coupon buyers can then redeem these coupons. Groupon has done business in over 50 countries and, by 2012, had over 39.5 million subscribers received its daily news. It had a 59.1 per cent share of the daily-deals market in 2013. Groupon is a publicly listed company on the NASDAQ in the USA, trading under the ticker symbol of “GPRN”.

The students' business knowledge and skills will be sharpened by working through this case, and students will be challenged to identify solutions to the marketing concerns: specifically, how the driving approach of its daily-deal business model enabled the company to adopt a growth strategy that will confront the difficulties of the emergent “golden age” of the daily-deal industry in the twenty-first century. In addition, it will also be of help to the students to take the active roles of thinker, analyst, evaluator, decision-maker and implementer to evaluate the continuing changes in a competitive environment and consider how Groupon can seize available opportunities to predict future performance by comparing data from 2008 and 2012.

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