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Business contracts are formed through negotiations, where the parties agree on some terms, disagree on others and keep yet others undecided. Over a period of time, they see themselves as having moved from being negotiating parties to contracting parties, settling on most of the terms. The law, however, states that a contract is formed when a person makes an offer and the other accepts it. The principle arose from the rudimentary trade practices in the past. The principles coming from the prior centuries and the modern business practices may not be in consonance. The Gibson v. Manchester City Council Case, a judgement of the House of Lords of the United Kingdom, reviewed attempts to modernize the law.

In February 2018, Jerome Powell had taken over as chair of the FOMC. At first glance, the macroeconomic conditions inherited by Powell appeared favorable for continued stability: unemployment and inflation were low, and the economy had been steadily growing for nearly a decade. Yet despite the appearance of stability, the economy faced significant risks that required the Federal Reserve's attention. Was an uptick in inflation imminent, and if so, should Powell raise rates to limit any inflationary pressure? Or was the economy still operating below capacity, and if so, should the Federal Reserve take a more accommodative stance? To gain perspective, Powell needed to look back at the past fifty years of monetary policy in the United States.

After completion of the case study, students will be able to understand general and specific challenges associated with carrying on a family business that faces market challenges including stiff competition from existing and newer players, understand the plywood manufacturing process and its supply chain management, understand the businesses operating in an organized versus the unorganized market, comprehend the marketing strategies adopted and identify a reasonable solution to address the challenges associated with the operations of a business.

This case study focuses on Gattani Industries (a plywood manufacturing company) located in the northeastern region of the Indian state of Assam. Headquartered at Cinnamara industrial zone of Jorhat district, Assam, the company began its operation in 1992 under the leadership of Makhan Gattani (Director). Gattani Industries catered to both residential and commercial demand. Its clients included the departments of central and state governments in India, public sector undertakings and civil contractors. The company had a wider distribution network across the country and adopted the one- and two-level marketing channels to reach consumers. It aimed to sell its products through dealers across the cities in India. However, in December 2019, Gattani faced the challenge of developing a growth strategy to overcome competition and use the upcoming market opportunities for business growth in the diverse and complex environment that existed in the country.

This case study is designed for use in graduate or undergraduate programs. This case study can be used in strategy, supply chain and marketing courses at Bachelor of Business Administration and Master of Business Administration levels.

Teaching notes are available for educators only.

CSS11: Strategy.

Marketing management, consumer behaviour, rural marketing and integrated marketing communications.

The case is for the use of undergraduate and also postgraduate students of management in courses of marketing management, consumer behaviour, rural marketing and integrated marketing communications. This case may also be used in human resources’ management course lectures which focus on social capital.

This case on the Centre of Science for Villages (CSV), Wardha, attempts to identify how value can be co-created through innovative technology and how social capital can be developed for rural markets through the use of integrated marketing communications tools, particularly word-of-mouth and the influence of opinion leaders. Effective campaigns can be designed for the target audience based on the 3A framework (Awareness, Adoption and Addition of Value) and McGuire’s Model of Persuasion. The CSV has been typically chosen for the study because its products are unique, innovative and eco-friendly and blend well with the rural lives. It has been able to enrich the lives of rural population by generating employment and in creating entrepreneurial opportunities. The biggest challenge, however, lies in educating rural consumers to accept and adopt its innovative technology in their daily lives.

The case study has been written to enable students to understand the concepts of value co-creation and social capital in the context of Indian rural markets. The students will learn the dynamics of rural markets by pondering over these points: understand the concept of value co-creation for rural markets; comprehend the creation of social ecology for managing knowledge in an organisation; identify the development and role of social capital and use it as a promotional tool, particularly word-of-mouth and opinion leaders(reference groups); recommend the use of different marketing mix variables for an organisation, operating in rural markets; and connote designing of effective campaigns for the target audience, based on the 3A framework and the Persuasion Model (6 steps) suggested by McGuire.

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 case has been used in a first-year required course called Global Economies and Markets in a module on monetary policy. On October 24, 2005, President Bush nominated Ben S. Bernanke to be chairman of the board of governors of the Federal Reserve System for a term of four years along with a 14-year term on the board of governors. With the U.S. Senate confirmation widely anticipated, Bernanke was expected to take over stewardship of the U.S. monetary policy from Chairman Alan Greenspan when he retired in January 2006. While the U.S. economy was in good shape at the end of 2005, Bernanke had to prepare to deal with two challenges when charting a course for managing U.S. monetary policy. First, the sharp rise in energy prices that began in 2002 had the potential to bring back the specter of inflation and dampen desired consumer and business spending. Second, the housing boom could turn into a housing bust, throwing the mortgage industry into turmoil and weakening consumer business confidence. There was also the possibility that the housing bust could affect broader financial markets. Bernanke had to consider his options for dealing with contingencies in the not-so-distant future.

This case describes the evolution of MHFC, a player in the Indian informal housing sector. As a new entrant offering micro home loans to the financially excluded lower income families of urban India in 2008, MHFC had grown to an annual number of 18,000 loans worth INR 8 billion with an average ticket size of INR 0.43 million (USD 6,000).

With a 53.5% purchasable equity stake in MHFC, Chopra and his team were left with certain decisions to make. Should the company on-board a new social investor? Or should it bring on the more readily available and capital-rich private equity investors interested in the lucrative prospects of the microfinance housing sector?

The case discusses two key objectives: (1) to understand the entire entrepreneurial journey of a group of entrepreneurs and how they plan to exit the venture, and (2) to enable classroom discussion on how to develop a business model from scratch, get it funded, achieve scale and then exit.

South Africa had formally introduced a policy of inflation targeting (IT) in February 2000. By December 2001, the governor of the South African Reserve Bank, after reading the latest statistics, was concerned with the disappointing economic data. Economic activity had slowed drastically, to the point that the country appeared to be heading for a recession. The gloomy statistics forced the governor to consider whether the country had pursued the right policy. Persistently high unemployment, one legacy of the apartheid era, meant that South Africa did not have the luxury of waiting for new policies to bear fruit. With the inflation forecast to exceed the mandated target, the governor would have to tighten monetary policy, which would further restrict investment. Was it is time for South Africa to change course?

Innovation, privatisation and property development.

Undergraduate and MA level property development courses; modules covering privatisation within undergraduate, MBA and MA level management programmes.

This paper presents the genesis and motivating factors that stimulate a managing director of a housing development (D&B Private Limited Company) to introduce innovation as a strategic solution to the challenges which hinder his firm's growth. The recently launched Ten Malaysian Plan and the Sustainable Programme for Corporate Malaysia are identified as the two stimulating events that triggered the initiation and subsequent implementation of innovation into Design and Build Sdn Bhd. Innovation has been recognized as an endeavor that impacts positively and significantly the performance of the firm that innovates. There was a major focus on factors that enhance innovation of a firm: structure, culture, resources and how to address or react to external factors such as government regulation on innovation, environmental uncertainty and market competition. The quest to be an innovative firm has led to major changes in the structure, culture and review of the firm intangible resources. Coupled with some corporate responsibilities, Design and Build Sdn Bhd has been recognized for its unique performance resulting from the competitive advantage derived from this very idea of innovations.

Students are expected to be able: to present a basic understanding of the motivations and driving force behind the housing developer's keen interest to innovate, to present the multiple benefits of adopting innovation in the housing industry, to highlight the internal and external factors which positively influence innovation among housing developers?, to present how housing developers are able to manage challenges facing their companies through innovation.

Teaching notes.

In 2011, Sherry Hunt was a vice president and chief underwriter at CitiMortgage headquarters in the United States. For years she had been witnessing fraud, as the company bought billions of dollars in mortgage loans from external lenders that did not meet Citi credit policy and sold them to government-sponsored enterprises (GSEs). This resulted in Citi selling to GSEs such as Fannie Mae and Freddie Mac pools of loans that were considerably defective and thus likely to default. Citi had also approved hundreds of millions of dollars' worth of defective mortgage files for U.S. Federal Housing Administration insurance. After reporting the mortgage defects in regular reports, notifying and working closely with her direct supervisor (who was subsequently asked to leave Citi after alerting the chairman of the board to these issues) to stop the purchase of defective loans, leaving anonymous tips on the FBI's and the Department of Housing and Urban Development's websites, and receiving threats from two of her superiors who demanded that she change the results of her quality control unit's reports, the shy and conflict-avoidant Hunt had to decide who she should tell about the fraud, and how.

The case gives students the opportunity to recommend how Hunt should proceed based on their analysis of the stakeholders involved. To aid instructors, the case includes Kellogg-produced videos of Hunt—the only on-camera interviews she has ever given—explaining what happened after she reported the fraud to Citi HR and, later, the U.S. Department of Justice. Within the case, students are also briefly exposed to legislation and bodies pertinent to whistle-blowing in the United States, including the Dodd-Frank Act, the Sarbanes-Oxley Act, and the SEC Office of the Whistleblower.

This case won the 2014 competition for Outstanding Case on Anti-Corruption, supported by the Principles for Responsible Management Education (PRME), an initiative of the UN Global Compact.

• Analyze stakeholders' motivations to prepare counter-arguments to the resistance one might encounter when reporting unethical behavior

• Write a script for who to tell, how, and why

• Discuss how incentive structures, management, and culture play roles in promoting or hindering ethical behavior in organizations

• Identify behaviors that help a whistle-blower be effective

• Gain experience resolving ethical dilemmas in which two values may conflict, such as professional duty and personal ethics

Analyze stakeholders' motivations to prepare counter-arguments to the resistance one might encounter when reporting unethical behavior

Write a script for who to tell, how, and why

Discuss how incentive structures, management, and culture play roles in promoting or hindering ethical behavior in organizations

Identify behaviors that help a whistle-blower be effective

Gain experience resolving ethical dilemmas in which two values may conflict, such as professional duty and personal ethics

The case is focused to meet the following learning objectives: the readers will be able to recall basic cash flow estimation concepts; and the readers will be able to explain various features of capital cash flow (CCF). The participants will be able to implement the CCF model in real estate firm valuation. The participants will be able to compare CCF and free cash flow to the firm (FCFF) models. The participants will be able to evaluate the benefits of CCF over FCFF. The readers will be able to construct the CCF valuation model for firm valuation.

On 19th April 2019, Mr Kai, an analyst tracking real estate firms was excited to present to his team a new robust technique of firm valuation suitable for real estate companies, namely, the CCF technique and was also keen to deliberate on its application. Though the investment scope using this technique could be located in Godrej properties (GP), a reputed brand and the largest listed real estate developer by sales in 2018, yet, he was concerned about the assumptions of growth of real estate industry in India, in general, and the GP in particular. Importantly, this was because the real estate market in India was undergoing many structural changes. For instance, the buyers’ preferences were changing and unsold inventory in the industry was at its peak. Under these market conditions, an announcement was made by GP about a target return on equity of 20% in 2018–2023 expecting a dominant place in the real estate market in India, which also carried the threat of jeopardizing the reputation of GP, if under any circumstance the target was not accomplished.

Masters program.

Teaching notes are available for educators only.

CSS: 11 Strategy.