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This case is used in Darden's course elective, Corporate Financing, and is accompanied by a teaching note for instructors and Excel spreadsheet for students. The Carlyle Group IPO case explores the circumstances leading up to the firm's IPO in May 2012. Over the past 25 years, Carlyle had grown from a fledgling private equity firm to one of the world's largest and most diversified investment firms. Carlyle had prepared extensively for the roadshow; management anticipated some tough questions. Students are asked to evaluate the extent to which Carlyle is undervalued relative to its peers. The case provides information on how to evaluate the earnings received by the public shareholders and outlines several alternative approaches to value PPEs.

The learning outcomes of this paper are as follows: to assess the extent to which a new business concept or entrepreneurial idea represents a commercial success or practical failure, to estimate the complexities associated with the management of a partnership-based venture in the context of emerging markets, to demonstrate understanding of entrepreneurial action and strategic adaptation under the condition of uncontrollable external shocks (e.g. COVID-19) and to evaluate the pros and cons of different strategic options and provide viable recommendations for the future.

Startup entrepreneurship constitutes the backbone of the socioeconomic activity of any nation and a driver of innovation, industrial diversification and wealth generation, particularly in emerging market settings. Drawing upon narrative storytelling techniques, this case study immerses the reader into the intricacies of entrepreneurial venture creation within the dynamic startup ecosystem in the Middle East. It follows the story of a young serial entrepreneur, Omar, who decided to launch a business in the creative industry of arts in the United Arab Emirates in partnership with his friend, Ahmed. Their common venture, Mont8, showcased and promoted the artwork of budding and well-known Arab talents and was on track to become a recognizable brand in the Middle Eastern business of arts until the COVID-19 crisis shook the world taking everyone by surprise. In an attempt to build a successful post-pandemic future, Omar was convinced that Mont8 needed to fast-track its digital transformation. He envisioned an e-commerce marketplace that would empower Arab artists, designers and photographers to create customized virtual galleries on their own web-stores through the Mont8’s digital platform. Yet, Omar’s vision diverged drastically from the very conservative mindset of Ahmed, who did not want to disrupt tradition and argued in favor of a back-to-business-as-usual approach. It remains unclear whose option would be selected and whether the two partners would stay in this makeover together or rather part ways.

Upper-level undergraduate courses.

Teaching notes are available for educators only.

CSS 3: Entrepreneurship.

The learning outcomes of this study are to estimate the complexities associated with the management of a novel business idea in the context of emerging markets; to demonstrate an understanding of entrepreneurial action and strategic adaptation under various challenges of the business world; to apply the principles of design thinking and innovation to analyze the sustainability of a social enterprise; and to evaluate the pros and cons of different strategic options and provide viable recommendations for future development.

Many riverine communities in Nigeria battled water hyacinth spread for decades, until Achenyo Idachaba-Obaro contributed her time, creativity and innovation to resolve the issue. She sacrificed her successful computer science career in the USA to launch her social enterprise, MitiMeth. The startup aimed to resolve the unaddressed environmental problems of her home country and to provide a decent living to the vulnerable community of indigenous artisans. This case study discusses Idachaba-Obaro’s efforts in researching the alternative usages of the water hyacinth weed under the condition of a limited availability of resources. Considering Nigeria’s creative arts culture and dismal socioeconomic conditions, she chose to weave the weed into handmade artifacts by educating herself and training local artisans to manufacture and sell handicrafts in the market. To receive financial support and attract environmentally conscious customers, Idachaba-Obaro had to participate in funding competitions, regularly attend exhibitions and partner with private entities, nongovernmental organizations (NGOs) and government authorities. This case study further elaborates on multiple hindrances associated with female entrepreneurial activities in a conservative Nigerian society characterized by marginalization, social stigma and gender-based stereotypes. Despite many challenges ensuing from a limited market access in rural areas, high unemployment rates and low levels of disposable incomes in the country, MitiMeth ambitioned to maintain its culture of creativity and innovation. The team regularly studied materials used and conducted brainstorming sessions with artisans to launch new items, improve existing products and incorporate needed alterations based on customer feedback and special demands. MitiMeth made its notable contribution toward the achievement of several sustainable development goals, while striving to continuously increase remittances to working artisans. Recently, the company was challenged by the vertiginous technological advancements of the digital era, as many businesses around the globe used machines to upscale their operations. Idachaba-Obaro pondered whether she should use technology in product manufacturing processes or focus on her commitment to provide a livelihood to local artisans and preserve the authentic look-and-feel of handmade crafts.

This case study is for an upper-level undergraduate audience.

Teaching notes are available for educators only.

CCS 3: Entrepreneurship.

One of the major reasons of layout-related difficulties faced by manufacturing industries is non-value-adding and redundant work. Plant layout study aims at economic production with larger volumes and variety as well. Method studies focus on the effectiveness with efficiency by a systematic critical scrutiny of work being done. The intention is to identify logical sequence of activities highlighting and eliminating the unnecessary mudas. Time and motion study is a combination of time study and motion study analysing and eliminating any unnecessary movement for productivity optimization of that job or process. Thus, through the elimination of unnecessary motions, times for performing the processes may be reduced and productivity increased. The intention is to subdivide the different operations of a job or process into measurable elements. Hence this case has been developed based on the primary data. The primary data was collected using Industrial Engineering Studies like layout study, method study and time and motion study. This case has been classroom tested with MBA students in their Lean Management Course.

Arin Synthetics Ltd. (ASL) though had installed modern machinery in its facility, process efficiency and optimization were a concern. Top Brass at ASL believed that ASL was overstaffed and its processes had creep as far as efficiency is concerned. This case focuses on ways to improve the process efficiency to rationalize the manpower at ASL. Presence in large growing global markets put cost pressure on ASL, thus mandating improvement in the efficiency of its processes through manpower rationalization. This case, therefore, discusses one of the highly staffed process of waste collection. Could ASL achieve reduction in the manpower in waste reduction without affecting the overall process? Was there a strategic mistake in the thought process of disposing of the waste generated by the manufacturing complex?

Operations management, Productivity and performance, Quality management, Lean management.

This case focuses on social entrepreneurship where social externalities lie behind a commercial activity. It aims to help students understand the ins and outs of social entrepreneurship concept and justify its application or not to “The Good Thymes”. It leads to an in-depth reflection in the strategic management field but within the framework of a social enterprise. It presents a good foundation to help students applying the strategic tools to this particular context. It aims to help master’s students in the business field to explain the concept of social entrepreneurship by drawing out its elements from the case study, identify and list the components of business development and management, design "The Good Thymes" business model and list its value chain and evaluate the future orientation of a company based on its characteristics.

Young, ambitious, in love with his native village "Kfarhouna", in Southern Lebanon, Fady Aziz, a branding specialist living in the capital Beirut, proposed in January 2016, in a friendly discussion, to the priest of the monastery of Saint-Georges to rent him an agricultural land. He aims to have a reason, at the end of the week, to go up in his village with his family. Skeptical to the idea, the priest accused him of "not understanding anything about agriculture" and challenged him to propose a valuable agricultural project likely to make him change his mind. M. Fady Aziz fought to meet this challenge which will allow him not only to reinvigorate his abandoned village but also to reconnect with his origins. He obtained the right to exploit a plot of land belonging to the Monastery of St. Georges. He had the idea of planting thyme and transformed his "hobby" into the outset of a long journey where his products crossed the borders, under a purely artisanal brand: "The Good Thymes". Today, M. Aziz is facing a new challenge: Would he be able to fulfill all these orders and remain faithful to the philosophy that led him to invest in his village without impairing the natural and artisanal aspect of his thyme?

Master in 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 11: Strategy.

Critical analysis of observed practice.

Field study.

To expose accounting and MBA students to Lean management and the performance measures that support Lean management by presenting a case of a comprehensive and very successful Lean transformation; to give accounting and MBA students the opportunity to construct a strategy map and a balanced scorecard based on a rich case description; and to critically assess the suitability of balanced scorecards for a company that embraces Lean management.

The case describes a comprehensive transformation from conventional management to Lean management and business practices, with an emphasis on the largely non-financial performance measures used to support the transformation. Around the time of the Lean transformation, the balanced scorecard, a multi-dimensional measurement approach, was introduced to address the problems of excessive reliance on financial performance measures. Students are asked to compare and contrast Wiremold’s approach to the balanced scorecard.

Graduate or upper level undergraduate courses in cost accounting, managerial accounting and strategic management.

Lean thinking and organizational culture

MBA, Executive Education, Post Graduate Diploma

The case details the adoption of lean thinking at K-Way, a contemporary technical textile manufacturer of outdoor apparel and accessories. The case covers the 12-year journey at K-Way, detailing the process and cultural improvements the company underwent. The case closes as Bobby, the General Manager at K-Way, thinks about his new challenges. The CEO of K-Way’s parent company, Cape Union Mart, wants Bobby to start devolving the lean thinking approach to other units within Cape Union Mart, in particular a newly acquired and under-performing children’s clothing business. Bobby is excited at the prospect, but simultaneously anxious about the work that still needs to happen at K-Way and more importantly, whether the organization is ready for his, and his key consultant-coach’s withdrawal as the primary “voices” of lean thinking. Would there be a reversal of progress in their absence and how can they counter this?

Understanding lean thinking as a management system and not a mere set of tools for waste reduction, while recognizing the importance of waste reduction. An understanding of how to entrench lean thinking in an organization after initial adoption with specific emphasis on the following: Kata and scientific thinking – what it is and how it can be employed; Hoshin Kanri/Strategy Deployment – what it is and how it can be used; Leader Standard Work, what it is and how it can be used. Consider responses for a company that has been on a lean journey for 10 years, with a focus on how (or if) lean leaders can withdraw from the operation.

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: 9: Operations and logistics

Entrepreneurship, new venture management, new venture planning.

The case involves various issues within entrepreneurship and the new venture management field such as business model, SWOT analysis, Pros and Cons analysis and challenges faced during the idea commercialization phase. Thus, this case can be used for covering multiple perspectives related to entrepreneurship and new venture planning. This case is useful for discussion in a session on opportunity recognition at ideation stage. This case is also ideal to teach the “Business Model Canvas”, which is fast gaining centre-stage for modern enterprises. The case also covers issues within strategic management such as what actually constitutes a strategy.

The case is based on a field study and primary data collected by interviewing the co-founder of the portal www.drivers420.com. This case describes a situation in which Malkit Singh Bal (Bal) Partner of Bal Road lines shares with Mr Amarpreet Singh (Singh), who was about to be hired as a consultant for Bal Roadlines, information regarding the rise in fraud and crime carried out by fleet drivers and asks him to help him find a solution to the problem.

Prepare a “Business Model Canvas” for the successful operation of business by identifying intended customer segment, value proposition, cost structures and revenue streams. Conduct “Pros and Cons” analysis for starting a business. Conduct “SWOT” analysis for starting a business. Understand what actually constitutes a strategy and understand the five elements constituting strategy.

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.

This case was developed to explore what social entrepreneurship looks like in an emerging market context. It tells the story of Neil Campher, a self-identified social entrepreneur working in South Africa, a country that has recently been awarded middle income status by the World Bank despite sharing a ranking with Syria on the Human Development Index. In environments of deep market failure, what does social enterprise look like? and can you sustain change in communities of extreme poverty? The case looks at the academic characteristics of social entrepreneurs and applies them to Neil to see if he “qualifies”. It has a particular focus on the bricoleur social entrepreneur. It explores concepts of poverty, and looks at sustainability, achieved through asset-based community development. It explores the need for organisations to transition in response to the environment and provides a tool to assess sustainability. The value of the paper is in exploring what social entrepreneurship looks like in an emerging market context. It also raises important questions on sustainability in environments which are inherently constrained.

This case study is aimed at students of social entrepreneurship, development studies, sustainable livelihoods and asset-based development. It is written at an Honours level and is therefore appropriate for use in customised or short programmes. The case study is a good introduction for students with a background in business (e.g. Diploma in Business Administration/MBA/custom programmes) who are wanting to understand social enterprise and blended theories of social and economic change.

The case study follows self-identified social entrepreneur Neil Campher in the grime and crime-ridden township of Helenvale, outside Port Elizabeth, in South Africa. Campher has given up his glitzy career as a financier in the economic hub of Johannesburg and returned to his home town, drawn by a need to give back. Helenvale used to be where he and his school friends would hide from the apartheid police, but as an adult, his friends are focused on strengthening and progressing the community. Campher’s entry point to change is a small waste recycling project, and the case study looks at how he uses this as a lever to achieve deeper structural change in the community. The teaching case exposes several questions around social entrepreneurship and change: what is social entrepreneurship in an emerging context and is Campher a social entrepreneur? What is community led change and can it be sustainable? Campher’s dilemma is around sustainability – has his extensive involvement of the community been enough to achieve progress in Helenvale?

The case study gives insight into social entrepreneurship in a developing country context. It highlights the nuances in definition and introduces the importance of context in shaping the social entrepreneur. The case is an opportunity for students to interrogate ideas on poverty and classical interpretations of social entrepreneurship and relate them to a small community that mirrors the macro country context in South Africa. The case study shows how asset-based approaches to development are interlinked with basic principles of social entrepreneurship. It shows that sustainability is more than a secure and predictable income stream and the need for community engagement and commitment to the solution. In tackling these issues, the case questions sustainability potential and the need for the organisation to transition to respond to opportunity and the changing environment.

Video X1 5minute video interview with Neil Campher 5min: YouTube Video of Campher from Interview 1 www.leadingchange.co.za (live from 01 April 2016) Video News report of gang violence in Helenvale 3min: YouTube. This is a quick visual introduction to Helenvale. It is a news clip, so is particularly focused on the angle of the story. It includes interviews with residents. The site www.youtube.com/watch?v=TluLpTuEq8I Northern Areas burning 2min: YouTube is a collection of video footage from a local reporter which shows Helenvale and its surroundings. The site www.youtube.com/watch?v=NCW-Hp24vMI shows the Text Global Competitiveness Report: South Africa; the first page gives additional information on social and economic development in South Africa, highlighting developed/developing country attributes. It also highlights how Helenvale is a microcosm of the negative social development indicators in South Africa (http://reports.weforum.org/global-competitiveness-report-2014-2015/economies/#economy=ZAF). 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.

In April 2012, JPMorgan Chase & Company was struggling with large losses that had the potential to damage the reputation of the company, of its Chairman, Jamie Dimon, and of its Chief Investment Officer, Ina Drew. The losses arose from large credit derivative trades in the London office that Dimon described as “bad strategy … badly executed … poorly monitored”.