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Kaleidofin was co-founded in 2017 by Puneet Gupta and Sucharita Mukherjee; former CFO and CEO of IFMR (Institute for Financial Management and Research) Holdings Pvt Ltd. As part of their roles at IFMR, Gupta and Mukherjee focused on designing products and developing technology to push for financial inclusion. In their field interactions, the co-founders had an epiphany of the challenges faced by people while trying to save towards important life goals. They saw an opportunity in the large segment of financially under-served people in India and quit their jobs to start Kaleidofin. Kaleidofin was conceptualised as a digital platform that offers customised financial solutions to help customers meet their life goals. The start-up partnered with mutual fund companies for solutions on one hand and network partners (NGOs, microfinance organizations, cooperative banks) on the other for access to their existing customers.

Kaleidofin grew from 50 customers in January 2018 to 15,000 customers by March 2019. Aiming to grow to 1 million customers in the next 30 months Kaleidofin faces a dilemma about its future course. The start-up could continue to grow by expanding its current target segment which is the low-income households and preserve its vision at the risk of increasing costs. The second option would be to look at other potential target segments, such as, middle-income households and risk diluting their vision. The case study highlights the unique customer-centric model of Kaleidofin and the need for start-ups to understand the value proposition of their products/services.

Social Entrepreneurship.

This case study can be used on the module on introduction to social entrepreneurship for postgraduate students specializing in Social Entrepreneurship or Social Work.

This case explores the difference between social entrepreneurship and idealism. It captures the journey of Charlene Vaz and Kavita Gonsalves, two passionate young women, who formed “The Bake Collective” (TBC). Kavita and Charlene are both full-time employees, who spend their weekends and evenings running TBC and through bake sells raise funds for supporting social causes. The women have been able to get a teacher hired for differently abled children, provide water purifiers to victims of the Nepal earthquake, furnish a classroom in a school for less privileged children and provide teaching material for schools in over 400 villages in the State of Maharashtra in India. The case highlights the power of volunteering for a cause that can result in developing a social enterprise. It helps to unfold the steps undertaken to kick-start the cause as well as the risks involved in the start-up stage. It also discusses the measures that can be taken to mitigate the risks in the start-up phase and the ways by which social entrepreneurs can scale and grow their programme.

From this case, students will learn about the factors that lead to the germination of a social enterprise and identify characteristics of social entrepreneurs. They will be able to understand critical factors required to sustain start-up enterprises. The case will also enable students to explore systems and processes that need to be designed to sustain the start-up phase. Further, the case will help students to brainstorm on growth strategies for social enterprises.

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.

The learning outcomes of this case study are to understand and apply the PESTLE framework with a special focus on sociocultural nuances of a conservative society, appreciate the role of innovation and effective leadership in the success of entrepreneurial ventures, understand the bricolage theory to critically evaluate the role of entrepreneurs as agents of social change and develop monetization strategies for digital start-ups and recommend strategies that would help social enterprises to strike the right balance between their social aspirations and commercial goals.

In March 2020, Kanwal Ahmed, founder of the much-lauded Facebook group Soul Sisters Pakistan (SSP), was posed with a critical situation. SSP’s first face-to-face member meetup, which had been hyped up by Pakistanis residing in Canada for months, had to be called off due to the advent of COVID-19. What worried Ahmed was not just the immediate impact of the postponement; rather, she was more concerned about how her social enterprise would sustain in the longer run. The new normal had changed the way businesses operated; tried and tested revenue generation strategies of SSP would neither be feasible in a COVID-stricken world nor reap the same results. Ahmed knew that her social enterprise could have a far-reaching impact in a pandemic-stricken world. However, she was unsure about how to monetize her business model so as to ensure steady revenue generation streams that would keep the enterprise afloat. Ahmed knew that the clock was ticking, and she had to act quickly and think of ways to ensure SSP’s long-term sustenance.

This case study is suitable for undergraduate students enrolled in courses of entrepreneurship and strategy.

Teaching notes are available for educators only.

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Learning outcomes can only be achieved through using case-based pedagogy. Instructors must encourage students to dive deeply into the case dilemma, so they are able to engage with the case objectives and questions, applying the appropriate theory. By doing so, students can provide solutions based on five core objectives. These are the objectives that students should learn after completing the case discussion: ■ Critique the marketing activities for implications of global branding. ■ Understand the turnaround strategies in the context of the digital economy and COVID-19 crisis to build a global brand and drive B2C customers from awareness and advocacy. ■ Suggest a map of traditional and digital marketing strategies to enhance the company’s efficiency and effectiveness. ■ Discuss the three main sources of influence marketers can implement to drive customers from awareness to advocacy across the customers’ path. ■ Discuss the application of the UN 17 SDGs practices in today’s fashion industry.

In 2018, Ali El Nawawi and Mai Kassem decided to start up the Scarabaeus Sacer brand to take their passion for social and human development and create ethical fashion streetwear. Scarabaeus Sacer was an Egyptian brand that sold 100% organic Egyptian cotton fashionable streetwear, and the core mission of the fledgling company was “promoting Egyptian organic cotton textiles with a premium quality globally” (Al Nawawi, 2021). While Scarabaeus was mainly guided by the well-being, sustainability, and mental health goals of the UN Sustainable Development Goals (SDGs) numbers 3, 8, 11 and 12 (good health and well-being; decent work and economic growth; sustainable cities and communities; and responsible consumption and production), their position as an advocacy brand was only beginning to be understood by their customers in Egypt. With the rapid increase of e-commerce during the COVID-19 crisis and their previous international experience, the co-founders wanted to achieve their mission of building a global brand that promotes Egyptian organic cotton and sustainability while offering unique designs of fashionable streetwear. To achieve this mission, the co-founders El Nawawi and Kassem faced major decisions related to marketing strategies at the beginning of 2020. These included how to build global brand awareness and brand advocacy for well-being, sustainability and mental health with a special focus on penetrating new markets (namely, Europe and the USA) to stock their products on e-commerce platforms and advocating their cause and increase their sales.

This case is suitable for graduate-level marketing courses in which it allows students to engage with classical marketing strategies, digital marketing, global branding, communication, media and sales within a management framework.

Teaching notes are available for educators only.

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Understand the implementation phase of sustainable start-ups. Identifying the 4 Ps of sustainable start-ups. Understand the different types of challenges faced by Up-Fuse regarding their target customers and their value proposition. Highlighting the important strategic decisions that sustainable start-ups have to consider in their business cycle. Analyzing the differences between the market conditions globally and in the Middle East and North Africa (MENA) region.

Sustainable entrepreneurship is the type of entrepreneurship that is market-oriented and creative while at the same time putting the environment, society and economy into consideration. Sustainable entrepreneurs offer value through their goods and services that are beneficial or at least do not harm the environment or the society. The case provides background information and facts about doing business in the MENA region and Egypt specifically. Afterward, the case study emphasizes the challenges that are faced by sustainable entrepreneurs in Egypt through analyzing the case of a sustainable Egyptian start-up. The case study is on Up-Fuse, one of the sustainable start-ups in Egypt that produce backpacks, shoulder and waist bags, laptop sleeves, cases and pouches. This case study aims at describing the different challenges and strategic decisions that sustainable start-ups go through in Egypt.

This case targets undergraduate management students, marketing students, master of business administration students, entrepreneurship students and entrepreneurs. This case can be taught in courses with marketing, entrepreneurship and sustainability focus.

Teaching notes are available for educators only.

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By working through the case and assignment questions, students will be able to conduct a marketing environmental analysis to aid strategic decisions; analyse the first-mover advantages of a retail firm and how these can be sustained; comprehend online retail business models and the challenges therein; understand the trade-offs of online/offline retail experiences specific to an emerging market’s beauty and personal care sector; conceptualize and formulate actionable growth strategies that balance the individual and collective requirements of brick and mortar and retail e-commerce environments.

The case is set in 2022, right after Nykaa – the pioneer of beauty and wellness e-commerce platforms in India makes a blockbuster stock market debut in 2021. Starting in 2012 with a disruptive online model for selling beauty and wellness products online in India, Nykaa had come a long way with expansions in physical retail and other segments such as fashion. The firm, which initially aimed to be a virtual store, is now thinking of aggressively expanding in the brick-and-mortar retail space as it opens its 85th retail outlet.

Falguni S. Nayar, founder and CEO of Nykaa, wanted to roll out 300 physical stores targeting 100 cities in India in the next couple of years. She aspired to establish Nykaa as a category leader as the “Indian Sephora” in the beauty and personal care market. Nykaa’s first-mover advantage in the online beauty and personal care marketplace worked well to establish it as a brand with positive endorsements by digital shoppers that enhanced the investment potential with potential financiers. However, the pandemic had brought every physical retailer to the online platform. Most e-commerce platforms dealing in grocery to lifestyle had added personal care products to their existing merchandise.

Additionally, several start-ups had ventured into the online marketplace. Online was a cluttered marketplace with little to no differentiation. In this bloodbath, would the first-mover advantage for Nykaa in the online space still count as a competitive advantage? Nayar was all set to expand Nykaa’s physical presence aggressively. The concern was that the beauty and personal care segment had also moved online as a function of long stay-at-home periods. In the post-pandemic times, would the customer indeed revert to brick and mortar once again? Nykaa was also into product formulations, but so was every big and small player in the space. What was the differentiated winning formula for the consumer’s heart and mind?

The case can be effectively used in foundation courses in marketing and a wide range of specialized courses on marketing management (core/foundation course), retail marketing and e-commerce/digital marketing and e-commerce for B-school learners. The complex decision points faced by an innovative e-commerce start-up firm on its road to market expansion make the case suitable for niche courses such as Marketing for Start-ups. Moreover, learners in executive MBA programs with considerable experience can benefit from the case analysis that balances a growing retail company’s long- and short-run objectives.

Teaching notes are available for educators only.

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This case study was developed using data from secondary sources. The data was collected from the organization’s website, annual reports, press releases, published reports and documents available on the internet.

According to the International Energy Agency’s (IEA) World Energy Outlook (WEO), 775 million people worldwide would not have access to electricity even by 2022, with the majority of them living in sub-Saharan Africa (SSA) (Cozzi et al., 2022). In SSA, energy poverty had been a serious issue over the years. According to the IEA, 600 million people lacked access to electricity in 2019, while 900 million people cooked with traditional fuels (Cozzi et al., 2022). A World Bank report from 2018 said many SSA countries had energy access levels of less than 25% (Cozzi et al., 2022). Energy poverty in SSA hampered sustainable development and economic growth.

Despite significant efforts to address this poverty, Africa remained the continent with the lowest energy density in the world. Although solar and other energy-saving products were appealing, their adoption rates were modest, and their distribution strategies were not particularly effective. The lack of electricity exacerbated a number of socioeconomic problems, as it increased the demand for and use of wood fuel, which caused serious health problems and environmental harm.

While working in Uganda, Katherine Lucey (Lucey) saw that having no electricity had negatively affected women’s health in particular because it was women who were responsible for taking care of the home. These effects were both direct and indirect. The women’s reliance on potentially harmful fuels for cooking, such as firewood and charcoal, resulted in their suffering from respiratory and eye problems, in addition to other health issues. Furthermore, the distribution of energy-saving and renewable energy items was seen as the domain of men, and there was an inherent gender bias in energy decisions. Women were not encouraged to participate in energy decisions, despite the fact that they were the ones managing the home and would gain from doing so. In addition, because there was no light after dusk, people worked less efficiently. Lucey saw the economic and social difficulties that electricity poverty caused for women in rural Africa. She also witnessed how the lives of a few families and organizations changed after they started using solar products. This motivated her to start Solar Sister with the mission of achieving a sustainable, scalable impact model for expanding access to clean energy and creating economic opportunities for women.

Solar Sister collaborated with local women and women-centric organizations to leverage the existing network. Women were trained, provided all the necessary support and encouraged to become Solar Sister Entrepreneurs and sell solar products in their communities and earn a commission on each sale. To provide clean energy at their customers’ doorstep, the Solar Sister Entrepreneurs received a “business in a bag” – a start-up kit containing inventory, training and marketing assistance.

Solar Sister’s business model empowered the women in SSA by providing them with an entrepreneurship opportunity and financial independence. Also, the use of solar products helped them shift from using hazardous conventional cooking fuels and lead a healthy life. The children in their households were able to study after sunset, and people in the community became more productive with access to clean energy.

The COVID-19 pandemic outbreak, however, had a serious impact on Solar Sister. It found it challenging to mentor and encourage new business owners due to restrictions on travel and on group gatherings. The Solar Sisters were unable to do business outside the house either. Their source of income, which they relied on to support their families, was therefore impacted. The COVID-19 outbreak also slowed down the progress achieved by the community over the years and made household energy purchasing power worse. Furthermore, the organization was also grappling with other issues like limited access to capital, lack of awareness and infrastructural challenges. Another challenge lay in monitoring and evaluating the organization’s impact on the last mile.

In the absence of standardized measurement tools and issues in determining the social impact of Solar Sister, it would be interesting to see what approach Lucey will take to measure the impact of Solar Sister on the society. What measurement tool/s will Lucey implement to gauge the social impact of Solar Sister?

This case is intended for use in PG/Executive-level programs as part of a course on Social Entrepreneurship and Sustainability.

This case study attempts to sensitize the impact of restructuring on the organization’s employer brand. The students shall learn to appreciate the criticality of maintaining a balance between being an employee-centric organization and building a sustainable business model, to analyze the alternative people management strategies in emerging start-ups.

This case study illustrates the innovative human resource (HR) policies adopted by the start-up Meesho. Meesho was started as “Fashnear” by two Indian Institute of Technology graduates Sanjeev Barnwal and Vidit Aatrey in the year 2015, with the headquarters located in Bengaluru, Karnataka, India. It was a social commerce platform wherein the local apparel sellers or manufacturers could register themselves on the app and sell their products online to nearby consumers and the product would be delivered to their homes. Later, it was renamed Meesho (Meri E-Shop) with an improved business model. The innovative people-centric policies got Meesho recognition as one of the most employee-friendly start-ups and an innovative employer. However, later as part of the restructuring exercise, it had to lay off employees, which had a counter impact on its reputation and image as a desirable employer. This case study captures the dilemma faced by start-ups like Meesho who were in the process of sustaining their growth and optimizing their workforce and, at the same time, have to manage their employer brand in the process.

This case study can be used at the postgraduate level of management and in executive management programs.

Teaching notes are available for educators only.

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The students should be able to understand the potential and competitive advantage of community-based business model. The students should be able to familiarise themselves with the concept of entrepreneurship through acquisitions. The students should be able to decide when a firm should use acquisition as a key driver coupled with fewer efforts on organic growth or vice-versa. The student should be able to evaluate the success or failure acquisition as a growth strategy. The student should be able to evaluate the key metrics and other variables in the acquisition of target companies. The students should be able to wear the shoes of the protagonist and resolve the dilemma.

The teaching case looks at the dilemma of Sairee Chahal. Chahal is the founder of SHEROES, an online community for women. SHEROES started as an online career ecosystem for women. As time progressed Chahal witnessed conversations beyond career and moved towards women-centric themes. Chahal decided to pivot it into an online community for women. Her growth strategy for SHEROES has primarily been driven by serial acquisitions coupled with dispersed efforts on organic growth. In the meanwhile, Chahal had harboured an ambition to bring 100 million users to SHEROES by the year 2024. In a period spanning from 2016–2020, SHEROES acquired six niche women-centric companies. SHEROES grew to be a community of 1 million users to 20+million women users by 2020. On the other hand, the industry leader, Mogul used a diametrical approach to grow the platform into 30+million users by 2020. It had primarily used organic growth strategies such as content development, designing courses, referrals and many more. However, Chahal found herself in a dilemma when a reporter posed a question to Chahal. Chahal’s growth strategy depended on acquisitions, coupled with less effort in organic growth. Conversely, Mogul grew primarily via organic growth strategies. The reporter’s question forced her to question and revisit her growth strategies. She wondered if a target of 100 million users could be achieved with the acquisition as a major driver and less effort invested in organic growth or whether it might be better to make organic growth the key growth strategy while pushing acquisitions to the back seat. The uniqueness of the case lies in the female protagonist who is trying to build a larger-than-life community primarily via acquisitions with little effort on organic growth. Such a phenomenon has rarely been explored in teaching cases. The case is based on secondary data and the information is available in the public domain.

The case is designed for post-graduate students in the entrepreneurship curriculum. Within entrepreneurship, it is well-suited for use in specialised courses on “growth of an entrepreneurial venture” or “entrepreneurial strategies”. An instructor may take it up in the middle of the module as students would have familiarised themselves with various growth strategies. An instructor may use the case for a very niche course such as entrepreneurship through acquisition. An instructor may take it up as an introductory case in such a course. It can also be used in the executive programme aimed at “women entrepreneurship”, “community-based model” and “serial acquisitions” to teach how women or founders create and grow entrepreneurial ventures with acquisitions or communities as their focal tenet. The case has been tested in the authors’ post-graduate student’s entrepreneurship course. An instructor can use it when the instructor wants to discuss the various growth strategies available to an entrepreneurial firm.

Teaching Notes are available for educators only.

CSS 3: Entrepreneurship.

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.

Teaching notes are available for educators only.

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