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This case examines the causes and consequences of the Lehman Brothers bankruptcy during one of the most fascinating weekends in financial history. It's about the commercial paper market, a major funding market served by Lehman Brothers, and the events that led to “breaking the buck” on money market funds. It also examines the CDS market where Lehman was such a big player, the potential impact that CDSs had on the crisis, and the notion and validity of the too-big-to-fail hypothesis.

The theoretical basis for this case is a focus on strategic positioning as related to Porter’s generic strategies. The case describes GameStop’s previous differentiation approach, executed through physical stores and knowledgeable staff. With technological shifts and the introduction of digital downloads, this strategy is less effective. The case requires students to consider how GameStop might revise its generic strategy based on the new competitive landscape in which it operates.

In writing this case, the research team conducted thorough analysis through primary data collection in stores as well as secondary data collection through the use of market research tools, such as IBIS World, MergentOnline, S&P Net Advantage, and academic journals, trade magazines, and websites.

With high uncertainty shown by stakeholders about the future of GameStop coupled with falling share prices, the company must find a way to stay in play given the rapidly growing digital gaming market. As it planned to close at least 150 of its 7,500 stores, the company was starting to take measures to reduce operational costs and restructure to sectors that best fit consumer interests. GameStop’s core competencies were no longer aligned with market conditions, and its executives were now questioning where it could expand the organization’s operations as they focused on finding untapped areas of the market that have an opportunity for a new competitive advantage. Given its unique market share in gaming memorabilia and trade-in values, students are tasked with finding GameStop’s existing competitive advantages or identifying potential new ones that can be leveraged in a technology-driven industry.

This case could be taught at either the graduate or undergraduate level strategy course. At the undergraduate level, it would be best taught when discussing industry life cycle or competitive dynamics. At the graduate level, MBAs could discuss competitive dynamics facing GameStop and how it might find areas for future strategic growth.

Dick Mayo, one of the most celebrated value investors in America was puzzled by the New Economy's continuous bias toward growth investment strategies. He examines the basics of his philosophy versus that of a growth orientation by evaluating the long-term expected returns of several value and growth stocks. This case can be used to pursue several objectives: (1) to define value and growth investing-where the differences lie and whether one approach is superior to the other or whether both have merit; and (2) to discuss issues related to consistency of one's investment philosophy. Should one stay true to one's philosophy even when the market seems to run counter to it for a prolonged period of time? Can value investing deliver value in this New Economy or is it only an Old Economy concept? The students are instructed to perform basic valuations of Cisco Systems (a growth company), CVS, R.R. Donnelley, and Manor Care (value companies) and compute their long-term expected returns. The case comes with an Excel spreadsheet containing the data and relevant valuation ratios for the above firms. The valuations are straightforward, but they tell an interesting story: the expected returns of glamorous stocks in reality may not be so glamorous.

The case is set in summer 2016, centered on the writer and performing star, Lin-Manuel Miranda, whose Broadway show Hamilton had grossed almost $75 million and won 11 Tony Awards. The musical's cultural influence was buoyed by Miranda’s 578,000 Twitter followers; hundreds of celebrities from Oprah Winfrey to Jennifer Lopez had become ambassadors for the musical; and its impromptu #Ham4Ham live performances were engaging thousands of people on social media with each release. The case explores specific tactics the show employed, challenges students to consider the importance of personality in creating social media buzz, and studies the practical influence social media may have had on the show’s success. It is appropriate for any marketing course, particularly a digital media class in which students are familiar with the major platforms.

At the dawn of the twenty-first century, Boeing and Airbus, the leading manufacturers of large aircraft, were locked in a battle for market share that drove down prices for their new planes. At about the same time, the two industry heavyweights began developing new aircraft families to address the future market needs they each projected.

Aircraft take many years to develop, so by the time the new planes made their inaugural flights, significant changes had occurred in the global environment. First, emerging economies in the Asia-Pacific region and elsewhere were growing rapidly, spawning immediate and long-term demand for more aircraft. At the same time, changes to the market for air travel had created opportunities for new products. These opportunities had not gone unnoticed by potential new entrants, which were positioning themselves to compete against the market leaders.

In October 2007, the Airbus superjumbo A380 made its first flight. The A380 carried more passengers than any other plane in history and had been touted as a solution to increased congestion at global mega-hub airports. Four years later the Boeing 787, a smaller long-range aircraft, was launched to service secondary cities in a point-to-point network.

The case provides students with an opportunity to analyze the profit potential of the global aircraft manufacturing industry in 2002 and in 2011. Students can also identify the actions of participants that weakened or intensified the pressure on profits within the industry.

Audio format (.mp3 file) available with purchase of PDF. Contact cases@kellogg.northwestern.edu for access.