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This case study is developed from secondary sources. Two types of data were used to develop this case. The statistical data are gathered from sources such as Yahoo! Finance, Trading Economics, Investing.com and The Central Bank of the Republic of Turkey. Reports on market developments are gathered from major news outlets such as Bloomberg, The Wall Street Journal and Reuters.

The year 2021 was a volatile year for the Turkish economy: it ended the year with 36% annual inflation, 44% currency devaluation, shortages of basic goods, street protests, etc. How does the Turkish currency crisis in 2021 play out in various financial markets such as the foreign exchange, bond, stock and cryptocurrency markets? This case study introduces students to Turkey’s economic crisis in 2021 and how the Turkish lira’s depreciation, home inflation and central bank policies interact to affect its various financial markets. In the bond market, a depreciated lira heightened the credit risk of Turkey’s bond issuers and effectively crippled the country’s bond market. In contrast, Turkey’s stock and cryptocurrency markets experienced a rally as Turks put their money into equities and cryptocurrencies to hedge against inflation. In international trade, the lira’s fall and the supply chain disruptions in Asia benefited Turkish exporters tremendously. In contrast, Turkish importers suffered. In the Turkish society, the impact of the currency and inflation crisis fell the hardest on ordinary folks, who saw the values of their wages and pension benefits erode. In times of hardship, socially responsible citizens helped the poor by anonymously paying for others’ unpaid bills.

Given the multicomplexity of a currency crisis, this case would be valuable for finance/economics students to understand how a country’s currency crisis and its central bank policies interact to impact its various financial markets. This case is appropriate for courses in Markets and Institutions with a global or cultural learning objective.

1. Describe how the Turkish lira’s depreciation affected its various financial markets, such as foreign exchange, bond, stock and cryptocurrency markets.2. Understand the cultural perspective on usury, how it exists in modern-day finance, and its’ role in President Recep Tayyip Erdoğan’s economic policy.3. Compare and contrast Turkey’s export and import industries and how they are being affected by the lira’s depreciation.4. Evaluate the risk exposure of foreign investors who participate in Turkey’s stock market given a depreciating lira.5. Evaluate the creditworthiness of Turkish corporations who issued dollar- or euro-denominated bonds as well as issuers of lira-denominated bonds given a depreciating lira.6. Understand the social impacts of a currency crisis and the charitable acts of socially responsible citizens.

HRM; recruitment; managing cultural expectations in business; leadership.

Undergraduate management courses; MBA and MSc.

This case focuses on recruitment problems in Europe with an Asian dimension. A young Dutch and a young Chinese graduate are considering a career with postal, courier and logistics firm TNT – what are their concerns as graduating students in looking for a job? From the opposite perspective, the case considers how employers attract graduate recruits. The case encourages students of a wide range of cultural backgrounds to question if they are following their cultural norms, or their own personal needs, regardless of their culture. It introduces students to the concept of perceptions of employer value propositions (EVPs) and how employers can “market” themselves to employees. The case is appropriate for courses in leadership, human resource management, corporate social responsibility (CSR), managing culture, also job hunting and career workshops.

This case is aimed at projecting the importance of career choice criteria from both graduate and employer perspectives. The case examines issues of national culture and associated differences in employee and organizational expectations. The case also examines the role of CSR in attracting employees; and the particular concerns of Generation Y employees.

Teaching note.

The subject areas are family-owned business, entrepreneurship and strategic management.

The target audiences for the case study are BBA and MBA students and management trainees who are interested in learning about family-owned business and the problems faced by them when generations change. This case can be used to teach concepts in family-owned business and strategic management courses in the context of emerging markets. The case also introduces the problems faced by a traditionally operating organization which has to change to survive in the market. The case can be used to teach senior management teams participating in executive education programs on how problems arise in family-owned business. To successfully work with this case study, students need to have the basic theoretical understanding of family-owned business.

Sree Subramania Ayurvedic Nursing home (SSANH), one of the most reputed Ayurvedic treatment centers in Kozhikode, Kerala in India, was converted into its present form in 1974 from Thekkayil Vaidyasala by Thekkayil Rajaratnam Vydiar. The latest addition to this family run nursing home is Dr Sananad Ratnam, who in continuity of his family tradition studied Ayurveda. Dr Sanand wanted to rethink the positioning of the 400-year-old family business system with an objective to increase the number of people served by SSANH. He is armed with ambitious plans to expand SSANH and increase the volume of patients served. Dr Sanand’s father, the second partner of SSANH, was not quite supportive of this idea. His father felt that the increase in scale without compromise in quality was impossible in Ayurveda. Dr Sanand felt handicapped with problems such as lack of marketing strategies, lack of standard managerial procedures, lack of innovation in processes and, more importantly, conflicting ideologies between father and son in the family-owned business. To address these problems, Dr Sanand has recently hired the services of a consulting firm. This case highlights how SSANH, in spite of being in an advantageous position, is unable to exploit its full potential. Further explaining the different ways in which different generations perceive business, this case invites the attention to the dilemma: Should the business proceed with its expansion plan? If it decides to expand, how it should convince the previous generation of the family that the expansion plan accommodates their concerns.

After completion of this case, students would be able to: gain a perspective on the problems faced by a family-owned business which has successfully survived for decades; understand how a family-owned business functions differently from other business models; evaluate different ways in which the organization can look to solve the dilemma by considering the different stakeholders in question; and apply the result of the literature on family-owned businesses to understand the dynamics of business of this specific setting, i.e. one that has a rich heritage, is in an emerging economy and is a family-owned business.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS 3: Entrepreneurship.

Organizational behavior, human resources, culture, international business, international entrepreneurship and emerging market studies.

MBA and MSc students (and some advanced-level undergraduates) in an MBA module being taught face-to-face in an emerging market context. MBA courses such as managing cultural diversity, cross-cultural management, organizational behavior, human resource management, international business and business in emerging markets. The exercise is also relevant to teaching the subject of assignment- and dissertation-writing, given the element of data collection and analysis.

This exercise is designed to be an MBA class exercise in which students try to answer the question: what are the national cultural characteristics of the typical executive or manager in my country? Are these behaviors as the textbooks describe, or have they changed, especially with economic development?

The example of country chosen for the class exercise can be any emerging market country, especially one undergoing significant change. Much of the research on cross-cultural management conducted in emerging markets was carried out 20 or 30 years ago and the changes in emerging markets have been dramatic since then. It is highly likely, when reaching the results of this exercise, that the culture of the chosen country has indeed changed dramatically, becoming more like a typical developed or “emerged” country. Much of the original cross-cultural management research was also based on a similar group – employees of US-based high technology companies, arguably similar to the sample to be involved in our exercise here.

National cultural characteristics can be described and defined in ways which will allow for comparisons, to gain useful insights – and these behaviors are not good or bad, just real and different.

Cultures can change or stay the same, due to certain demographic, economic and social influences, which we can study and measure.

If we proactively interview colleagues and other contacts to test our understanding of these national culture constructs, we can gain more insights and awareness (rather than just listening to a lecture).

Teaching notes, student assignment.

This video case study exercise uses excerpts from the movie Patton and the HBO series Band of Brothers to juxtapose two military leaders (General George S. Patton and Lieutenant Dick Winters) as they face strikingly similar situations – each interacts with a subordinate experiencing “battle fatigue” (a.k.a. shell shock, PTSD) during the Second World War. Patton appears to lack emotional intelligence (EI) as he apparently loses control and strikes a soldier he believes is demonstrating cowardice. Winters, on the other hand, takes a much different approach when dealing with a subordinate in a similar situation. This case exercise is designed to augment assigned theoretical readings and increase student conceptual and practical insight into the construct of EI.

The analysis of film and biographies is based on historical figures.

The case is best used with undergraduates in management or leadership courses who may lack the contextual background to discuss certain aspects of leadership. Specifically, the case is designed to explore the elements that comprise EI as well as how EI may affect a leader’s effectiveness. The case study can also be used to challenge common conceptions of how EI may manifest and to discuss the potential “dark side” of EI.

This case study exercise centers on the concept of EI, with an emphasis on providing a robust understanding of the concept, including how context may come into play and how EI may have a “dark side.” The exercise could also be used to facilitate discussion of multiple topics normally covered in undergraduate management or leadership courses such as personality, perception and attribution, authentic leadership, toxic leadership, transformational leadership and motivation.

After completing the case study, the students will be able to explore, create and capture the dilemmas of a platform strategy; compare, contrast and configure strategies for successful platform adoption; develop fitting configurations for marketplace design; and use temple framework to evaluate the dilemma of the element of time (do it sooner, delay for later or dismiss forever) in launching a new marketplace.

Shoppre was a parcel-forwarding firm established in 2017. In a short period, Shoppre turned out to be one of the best parcel forwarding and cross-border commerce companies in India, thanks to the first-mover advantage it enjoyed. Shoppre had offerings of shopping and shipping of cross-border e-commerce. As a new firm looking forward to increasing its market power, Shoppre faced the dilemma of whether to launch the marketplace, and if yes, whether to do it soon or delay it for the future. There was also confusion in the marketplace’s design and implementation. Nikkitha Shankar’s (she/her) worry was that if Shoppre did not decide quickly on this, there would be possible crises in managing the partners and their financial performance. Shankar was brainstorming the issues with the founding partner and was gauging the dimensions. This case study presented new marketplaces’ dilemmas along with managing sellers, customers, markets, finance, logistics and digital transformation.

The case study is suitable for undergraduate- and graduate-level students pursuing courses in business programmes and senior management professionals participating in executive education programmes. The case study will also fit well for courses such as the “Platform strategy: building and thriving in a vibrant ecosystem” course [1], digital business models [2] and digital business strategy [3].

Teaching notes are available for educators only.

CSS 11: Strategy.

After working through the case, the students should be able to understand Indian political economy and the brand building process of NaMo; identify the media mix strategies used to build the brand NaMo in India; evaluate possible future growth strategies for brand NaMo; and compare and contrast brand NaMo with business brands.

Narendra Modi popularly called as NaMo was the current Prime Minister of India. He belonged to Bhartiya Janata Party (BJP) which won India’s general elections in two consecutive terms 2014 and 2019. NaMo was recognised worldwide for his prudence in leading the country to greater heights of achievement. NaMo started his political journey as the worker of BJP at a tender age. His rise in political career was akin to flagship brand overtaking the parent brand. All the steps taken in the past to position himself as a cult brand, will it fortify to NaMo’s victory in 2024 general elections? Business firms may follow NaMo’s strategies. What can the business brands emulate from NaMo to market and position themselves? Can political success be transpired to business success?

This case is designed for use in a graduate-/postgraduate-level marketing course in segments on brand management, brand expansion and the marketing strategies of a market leader. The case can also be used in a brand management course to discuss brand management models (e.g. Keller’s brand resonance pyramid and brand value chain). This case has particular application for classes that focus on brand equity, STP for any brand (segmentation, targeting and positioning) and brand value chain. The case looks in detail at the Indian political market and brand building process of NaMo and examines competitive moves since its inception. This case can be used in brand management, media management courses. The dilemma can be explained as part of a marketing course for postgraduate and executive programmes.

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS 8: Marketing.

The learning outcomes of this study are as follows: ■ understand organizational turnaround and its sustainability;■ applying the understanding of turnarounds to distinguish between operational and strategic levers of a turnaround strategy; ■ analyze and evaluate past and present turnarounds from a sustainability perspective; and ■ formulate managerial actions to make turnaround sustainable.

Braithwaite Company Ltd. (Braithwaite) was a specialized engineering firm headquartered in Kolkatta, India. It primarily undertook structural steel fabrication to make railway wagons and bridge structures. It was incorporated as a private enterprise almost a century back. However, since its nationalization five decades ago, it has been operating as a public sector undertaking (PSU) under the aegis of Indian Railways, a department of the Government of India. The case documents the past three decades of the firm’s journey, during which it experienced three episodic turnarounds. Details of the first two turnarounds are presented as the background, in light of which sustainability of the third turnaround is to be examined. The case explores the sustainability of organizational turnarounds from the perspective of the current Chairman and Managing Director (CMD), the case protagonist. Braithwaite underwent financial and operational distress in 1992, 2005 and 2015 and negotiated them under different leaders. These leaders from diverse backgrounds used distinct tactics and strategies to bring about organizational turnarounds. The case provides data and information to assess the sustainability of the third turnaround. Hence, it allows a class to explore the paradoxical observation that while “turnaround” inherently implies sustenance of good performance over time, turnaround sustainability is not spontaneous in the real world. The case deals with the performance issues of PSUs, which make significant contributions to the national economy in the case of emerging economies (for example, 5%–8% of the Indian National gross domestic product is contributed by PSUs; https://swarajyamag.com/ideas/psus-are-crucial-for-indias-growth-but-only-if-they-play-a-strategic-role). Under government ownership and management, the poor performance of PSUs is often attributed to bad decision-making by its top management. In contrast, Braithwaite’s top management’s sound contextual decision-making resulted in a jump in its performance during each turnaround phase, but unsound fundamentals resulted in the unsustainability of the turnarounds. Hence, the case enables an exploration of the unique challenges faced by PSU that emanate from legacy roles, monopolistic markets and dual purpose – the concurrent pursuit of profits and social welfare. Consequently, the case allows an examination of the reasons for the distress of PSUs and the viability of turnaround strategies in the context of the broader Business–Government–Society landscape in emerging economies.

The case is written for use in the MBA elective course covering “Strategic Revival and Turnaround Strategies.” It can be used at the beginning of the course to identify reasons for organizational failure/distress or in the later part of the course to discuss the implementation of operational and strategic turnaround strategies.

Teaching notes are available for educators only.

CSS 10: Public Sector Management.

After completion of the case study, the students will be able to gain knowledge on public–private partnerships (PPPs) in emerging markets; understand how to apply the sensing element of the dynamic capabilities framework in analysing context, especially in emerging market context; and understand how to apply the dynamic capabilities framework to the process of developing brand equity.

On 20 March 2020, in Johannesburg South Africa, Dr Barbara Jensen Vorster, the head of corporate communications and marketing at the Gautrain Management Agency, was considering her dilemma of how to manage stakeholders at a time when the patronage guarantee was under question. The nature of the Gautrain PPP transport contract entailed a revenue guarantee that was called a patronage guarantee. How did they build their Gautrain brand equity during the Gautrain PPP patronage guarantee controversy? This case study highlights the perspectives of multiple stakeholders which places the Gautrain brand equity under strain. The Gautrain brand identity was created to project an integrated, overarching brand position for the construction project and later the operating company. The logo illustrated Africanisation, and the slogan “For People on the Move” represented a modern collaborative approach. Upholding the status of the brand is an important quest for the corporate communications and marketing team, and therefore the issue around the patronage guarantee must be addressed. This case study illustrates contrasting views about the Gautrain being elitist versus the rapid rail train enabling economic prosperity. The pro-prosperity versus pro-economic development values were at the heart of the different opinions around the patronage guarantee. Students are therefore confronted with their own values while the case study aims to drive an awareness or consciousness around these issues in an emerging market.

This case study is appropriate for advanced undergraduate and Master of Business Administration courses focused on marketing, communications and/or stakeholder management, such as in business and society courses. At both levels, the case study will be valuable in generating discussion on communications models and how to manage stakeholders ranging from government to community representatives. In courses where dynamic capabilities theory is taught, this case study will offer a specific application of this model in the context of brand communications and building brand equity in times of controversy.

Teaching notes are available for educators only.

CSS 3: Entrepreneurship.

TourAmerica is negotiating a master contract with Voyager Inn International (Bethesda) for hotel rooms during the 1995 tourist season. Issues under consideration include number of rooms during peak, mid-, and off-periods, room rates, breakfast prices, and the cost of ancillary services. While the hotel manager is evaluated on the basis of several criteria, including adjusted daily rates, occupancy rates, and food and beverage profitability, and is also provided with a utility scheme to facilitate trade-offs among the criteria, TourAmerica uses an effective cost per registrant (adjusted for intangibles). These two approaches provide an opportunity to contrast measurement schemes and to justify the use of utility functions. This case is a role-play exercise and must be used in conjunction with “Voyager Inn International” (UVA-QA-0463).