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The case is designed to be used with the digital business model framework developed by Peter Weill and Stephanie Woerner of Massachusetts Institute of Technology (MIT) (Weill and Woerner, 2015) and is referred to as the W & W framework. This approach provides a useful structure for thinking through the strategic options facing environments ripe for digital transformation.

Research for this case was conducted through face-to-face interviews with the protagonist, as well as through a review of their business planning documents and other data and documentation provided by the founder. Some of the market and industry data were obtained using secondary research and industry reports. Interviews were digitally recorded and transcribed to ensure accuracy.

The case follows the story of Kurt Waltenbaugh, a Minnesota entrepreneur who shared the dream of using data analytics to reduce costs within the US health-care system. In early 2014, Waltenbaugh and a physician colleague founded Carrot Health to bring together their personal experience and expertise in both consumer data analytics and health care. From the beginning, they focused on how to use data analytics to help identify high-risk/high-cost patients who had not yet sought medical treatment. They believed that they could use these insights to encourage early medical interventions and, as a result, lower the long-term cost of care.

Carrot’s initial success found them in a consultative role, working on behalf of insurance companies. Through this work, they honed their capabilities by helping their clients combine existing claims data with external consumer behavioral data to identify new potential customers. These initial consulting contracts gave Carrot the opportunity to develop its analytic tools, business model and, importantly, to earn some much-needed cash flow during the start-up phase. However, they also learned that, while insurance companies were willing to purchase data insights for one-off market expansion projects, it was much more difficult to motivate them to use data proactively to eliminate costs on an ongoing basis. Waltenbaugh believed that Carrot’s greatest potential lay in their ability to develop predictive models of health outcomes, and this case explores Carrot’s journey through strategic decisions and company transformation.

This case is intended for either an undergraduate or graduate course on entrepreneurial strategy. It provides an effective introduction to the unique structure and constraints which apply to an innovative start-up within the health-care industry. The case also serves as a platform to explore the critical criteria to be considered when developing a digital transformation strategy and exposing students to the digital business model developed by Weill and Woerner (2015) at MIT (referred to in this instructor’s manual as the W&W framework). The case was written to be used in an advanced strategy Master of Business Administration (MBA) class, an undergraduate specialty health-care course or as part of a health-care concentration in a regular MBA, Master of Health Care Administration (MHA) or Master of Public Health (MPH). It may be taught toward the end of a course on business strategy when students are building on generic strategy frameworks and adapting their strategic thinking to the characteristics of specific industries or sectors. However, the case can also be taught as part of a course on health-care innovation in which case it also serves well as an introduction to the health-care payments and insurance system in the USA. Finally, the case can be used in a specialized course on digital transformation strategy in which case it serves as an introduction to the MIT W&W framework.

The case is particularly well-suited to students who are familiar with traditional frameworks for business strategy and business models. The analysis builds on this knowledge and introduces students interested in learning about the opportunities and challenges of digital strategy. Equally, the case works well for students with clinical backgrounds, who are interested in how business strategy can influence changes within the health-care sphere. Finally, an important aspect of the case design was to develop students’ analytical confidence by encouraging them to “get their hands dirty” and to carry out some basic exploratory data analytics themselves. As such, the case requires students to combine and correlate data and to experience the potentially powerful combination of clinical and consumer data. Instructors should find that the insights from these activities give students unique insights into the potential for of data analytics to move health care from a reactive/treatment ethos to a proactive/intervention ethos. This experience can be particularly revealing for students with clinical backgrounds who may initially be resistant to the use of clinical data by commercial organizations.

This case study would enable students to understand the concept, process and advantages of mergers and acquisitions as a growth strategy with respect to 1mg. Also, the students would be able to use the threats, opportunities, weaknesses and strengths matrix to map 1mg’s strengths, weaknesses, opportunities and threats.

This case study analyses the transformation journey of 1mg to Tata 1mg, one of the most trusted internet pharmacies in India. This case describes a small start-up that was launched in 2013 and had made many acquisitions since then. This case revolves around Tata Digital’s purchase of 1mg. The case starts out by explaining 1mg’s financial situation and why the company was acquired. This case study focuses on how the integration helped Tata Digital and 1mg realize their respective missions. Furthermore, the case study illustrates the benefits and difficulties of this integration.

This case study is basically aimed at postgraduate management students; it can be used in strategic management and health-care courses. Students can understand the concept of diversification and acquisition with the help of this case study. Students can also gain an insight into the organic and inorganic diversification as a growth strategy.

Teaching notes are available for educators only.

CSS 11: Strategy.

After completion of this case study, students will be able to describe the funding path for start-ups, including the amounts and profiles of the usual investors or sources of funds, according to the moment in their life cycle and the characteristics of the initiative; highlight the challenges faced by start-up founders in weak entrepreneurial ecosystems and risky institutional environments; and argue in favor of or against different modes and typical instruments of venture capital (VC) investments in the early stages of new businesses, each of them different regarding dilutions, valuation potential, depth of negotiations and term sheets.

Asistensi, a technology and telemedicine start-up founded in 2020 in Venezuela by three entrepreneurs (Andrés Simón González-Silén, Luis Enrique Velásquez and Armando Baquero), raised US$3m in less than a year in a seed round in which it attracted the attention of professional VC funds such as Mountain Nazca, Alma Mundi Ventures and 468 Capital. Everything was set for launching operations in Mexico and the Dominican Republic in April 2021. However, a series of difficulties led to higher expenditure than planned, prompting the entrepreneurs to seek additional capital. The decision on the financial instrument to be associated with the potential valuation and shareholder dilution figures has been posed as a dilemma.

The case study focuses on understanding the start-up financing process. It can be used effectively in management- and finance-related subjects for graduate students taking introductory topics in entrepreneurship and entrepreneurial finance, as well as introductory executive education courses in entrepreneurship, entrepreneurial finance and VC.

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CSS3: Entrepreneurship

This case study is designed to enable students to analyze the competitive landscape of a business impacted by technological disruption; evaluate the viability of an organic growth strategy using stakeholder analysis; evaluate the revenue and cost structure of Apollo 24/7 and decide on the future investment strategy; and analyze funding strategies of traditional hospitals versus pure digital players.

To extend its reach, Apollo Hospitals Enterprise (Apollo Hospitals), a leading private sector brick-and-mortar hospital chain in India known for using state-of-the-art technology, launched a unified virtual mobile platform Apollo 24/7 in February 2020, 45 days into the COVID-19 pandemic. The management believed that the digital platform had a unique ecosystem that could not be replicated. The analysts were optimistic about the impact of the decision on the future performance of Apollo Hospitals, as it was expected to lead to higher penetration and increased revenue. They also anticipated the unlocking of value, as and when the venture capitalist (VC) would invest in Apollo Hospitals. However, with increasing operating expenses on account of burgeoning technological and marketing expenses, things did not seem to go going as planned. Three years later, in February 2022 after the Q3 of financial year 2023 results. Suneeta Reddy, the company’s managing director found herself pondering whether the digital platform could boost Apollo Hospitals’ profitability in addition to expanding its reach and increasing affordability when the company missed the analyst estimates. In India, which was then the second most populous country, “incremental access” and “affordability” were what mattered to the patients, However, for the investors and analysts, it was quarter-on-quarter performance. The change in the macroeconomic environment stalled the company’s plan of raising money from VCs.

Furthermore, the financing dilemma also plagued Reddy. She knew there was a difference between financing for conventional businesses that for digital businesses. She also had to take decide between short-term profitability with which investors were obsessed versus long-term sustainability, which involved taking care of stakeholders’ interests.

This case study is basically aimed at postgraduate courses and executive management courses.

Teaching notes are available for educators only.

CSS11: Strategy.

After working on the assignment questions, the learners can achieve the following learning outcomes: understand the buying behavior towards sustainable products in the context of mindful consumption and product characteristics, appraise the market segmentation and positioning strategy of a sustainable business, understand the application of 5C’s framework for a sustainable business and critically evaluate a new sustainable business’s challenges in the emerging business environment.

Dr Joe Fenn, founder and director of PFoods, with extensive experience in the pharma industry overseas, observed a decline in the consumption of traditional dairy foods. Alternative plant foods come as a savior to people who are lactose intolerant and offer a host of health benefits with low environmental impact. Riding on the waves of veganism and sustainable foods, he saw an opportunity in India. PFoods developed and launched two products, namely, Just Plants (plant-based milk alternative) and Plotein (plant-based protein alternative), in collaboration with scientists at the Indian Institute of Science, a premier scientific institution in India, and PMEDS (PreEmptive Meds), a US-based nutraceutical Company. PFoods launched and pilot-tested Just Plant, a dairy alternative substitute for milk in select reputed organizations in Bangalore. The upcoming challenges for Fenn would be to select the right segment, educate the market and position the product that would resonate well with the target customers.

The case study suits undergraduate and graduate courses such as marketing management, sustainable marketing and sustainable business. The case study can also be used in entrepreneurship management and entrepreneurial marketing courses to introduce the challenges of a sustainable startup. The case study highlights the marketing challenges faced by the disruptive and growing plant-based foods or alternative dairy industry in emerging markets.

Teaching notes are available for educators only.

CSS 8: Marketing.

The case study draws on structured interviews with Rob Chase, Founder and CEO of NewGen Surgical, as well as secondary data sources to analyze the effectiveness of these solutions in mitigating the risks and enhancing the company’s competitive advantage.

This case study examines how NewGen Surgical, a small- to medium-sized medical equipment manufacturer based in the USA, navigates a supply chain crisis caused by post-pandemic (COVID-19) supply and demand distress, trade restrictions, and the US–China trade war in 2022. It outlines the journey of CEO and Founder, Robert Chase, as he started, grew and is maintaining the company and its various challenges. The case study reviews the risks and vulnerabilities of the company, which heavily relies on Chinese suppliers for most of its operations. To address the supply chain challenges, the case study explores alternative solutions such as insourcing, reshoring, diversifying the supplier base, changing safety stock and implementing new technologies. The case can be designed to teach business courses such as global business, supply chain and entrepreneurship.

This case study is intended for undergraduate and graduate students in courses such as global business, supply chain and entrepreneurship. In addition, this case study may be incorporated with modules on learning organizations, knowledge management and entrepreneurship to aid students in comprehending the principles of global sourcing, offshoring and supply chain management.

After completion of the case study, the students will be able to illustrate issues in offline marketing and strategy for an in-store business, familiarize students with the challenges involved in the decision-making in integrating online and offline marketing strategies, evaluate the advantages and disadvantages of online and offline marketing and motivate students to apply marketing strategies to real-world business situations

Deepa Kumar, the founder of Yashram Lifestyle, had successfully built a niche brand with a strong online presence in the lingerie industry. Yashram Lifestyle was known for its innovative products and commitment to addressing the real-life vulnerabilities faced by women at different stages of life. With a vision to be a one-stop destination for all intimate and practical needs of women and girls, Yashram had introduced unique products such as period panties, starter bras, incontinence underwear and hygiene panties. On the contrary, Kumar acknowledged that offline marketing strategies, such as pop-up stores, collaborations with physical retailers and participation in industry events, could provide valuable insights into customer preferences, enhance brand visibility and foster direct customer engagement. Offline channels might also enable Yashram Lifestyle to better understand the market dynamics and further drive product innovation. However, owing to the associated costs, logistics and potential risks, Kumar was apprehensive about venturing into offline marketing. She wondered whether Yashram Lifestyle had the necessary assets and expertise to successfully scale up its operations while making these alternate decisions. Furthermore, she questioned herself whether offline marketing efforts would be worth the investment and whether they could lead to substantial growth and increased market share for Yashram Lifestyle.

The purpose of this case study is to provoke critical thought among undergraduate and postgraduate business and management students about Kumar’s potential course of action for Yashram Lifestyle to engage in offline marketing. It applies to the implementation of marketing strategy.

Teaching notes are available for educators only.

CSS 8: Marketing.

The objective of writing this case study is to allow management students to engage with the complexities of mergers and acquisitions (M&As) in the insurance sector in an emerging economy like India. Upon completion of this case study, the students will be able to critically evaluate the business environment of the insurance sector of a developing economy like India, analyse the impact of M&As on the insurance industry of India, appraise the post-merger consequences and strategies to deal with these consequences, assess the applicability of market power and growth theories in the context of M&As and develop a strategic action plan for handling post-merger challenges.

On 3 September 2021, the Insurance Regulatory and Development Authority of India (IRDAI) approved the “Scheme” related to the merger of the non-life insurance division of Bharti AXA General Insurance Company Limited (“Bharti AXA”) with ICICI Lombard General Insurance Company Limited (“ICICI Lombard”). Earlier, on 21 August 2020, the boards of the companies had approved entering into definitive agreements through a scheme of arrangement. The merger received approvals from different regulatory bodies as mandated (Gandhi et al., 2023). Bhargav Dasgupta, managing director and Chief Executive Officer of ICICI Lombard, stated, “This is a landmark step in the journey of ICICI Lombard, and we are confident that this transaction would be value accretive for our shareholders” (FE Bureau, 2020). However, the merger posed a dilemma for Dasgupta and the management regarding crop insurance owing to its impact on profitability. Crop insurance historically had high claim ratios nearing 135% for ICICI Lombard for financial year 2018. The company ceased to underwrite this product from 2019 onwards (TNN, 2019). However, ICICI Lombard had to fulfil the three-year commitment made by Bharti AXA to the state governments of Maharashtra and Karnataka towards crop insurance. It was a scheme initiated by the Government of India, covering farmers against losses due to cyclonic rains, rainfall deficits and other unforeseen calamities. Dasgupta faced a challenge in managing the interests of the farmers and the company’s shareholders while balancing profitability, which had already been impacted by the COVID-19 pandemic. This case study delves into post-merger complexities in the financial sector non-life insurance industry in emerging countries like India.

This case study is suitable for undergraduate and post-graduate management students and executives from the insurance industry.

Teaching notes are available for educators only.

CSS 11: Strategy.

This case aims to study the growth, evolution, and social innovation of iThrive Games, a socially minded initiative that aims to create meaningful opportunities using technology for teens to enhance the knowledge, mindsets, and skills they need to thrive through development and across the continuum of mental disorder to wellness. iThrive's focus has been on creating “meaningful games”—that is, games that promote health and well-being of teen players. Founded in 2014 by Dorothy Batten, President of DN Batten Foundation, the organization's mission was to collaborate with game developers, partner with teens across the game development cycle (ideation to testing), and provide resources to foster teen thriving through gameplay. To do so, the organization took a unique social entrepreneurial approach. Drawing on a positive psychology framework and building the brand among key stakeholders including game developers, researchers, funders, youth, educators, and parents, the organization orchestrated a community dedicated to advancing the meaningful games field, and in doing so, have widespread impact.

The research methodology used for this case study follows a comprehensive approach, combining both primary and secondary sources to ensure a well-rounded understanding of the subject. Primary sources include in-depth interviews with the founders of the company, providing valuable firsthand insights into their experiences and decision-making processes. Multiple company visits were also conducted, enabling a closer examination of the operational aspects and allowing for a more holistic perspective on the case. Complementing these primary sources, secondary sources were used, consisting of a diverse array of articles from leading journals, newspapers, magazines and other reputable sources. These secondary sources offer a broader context and perspective, enriching the case study’s content and ensuring a robust foundation for classroom discussion and analysis.

True Elements was a clean health food brand that emerged from the vision of Mr Sreejith Moolayil and co-founder, Mr Puru Gupta, who recognized the potential of promoting healthy foods in India inspired by the health-conscious lifestyle that they observed during their work tenure in China. The co-founders began their entrepreneurial journey in 2011 with “Healthy World” kiosks inside IT company campuses in Delhi, Mumbai and Pune. However, early challenges surfaced as the target market narrowed. Undeterred, the founders sought innovative solutions to expand their reach and created “True Elements” – a brand that resonated with health-conscious consumers given its positioning as a clean and minimally processed food brand devoid of chemicals, preservatives and added sugars. True Elements excelled in the online market and catered to a few offline markets. To sustain and augment their success, the entrepreneurs sought a strategic partnership and succeeded with Marico Ltd. However, challenges remained on the horizon. One was the need to appeal to a new target group: the 25–45 age group with a lower monthly income of INR 30,000. Another pressing question was exploring the entry into the modern trade sector.

This case can be taught in undergraduate and post-graduate business management programs for marketing, strategy and innovation and entrepreneurship related courses. Apart from that, this case can also be discussed in incubator programs as cases highlighting entrepreneurship can facilitate discussions among early-stage founders, providing practical insights and lessons for their ventures. This case also can be discussed very effectively in management classes for working executives.