Case studies

After completion of the case study, students will have the ability to identify and apply various distribution strategies in the low-income market segment, to identify how last mile distribution is organized and executed in unconventional market situation and to identify and apply the 4Ps to support low-income market in last mile situations.

Mariam Atinga, the founder and owner of Mariam Special, was a native of Garu in the Upper East region. Mariam Special had specialized in the processing of freshly grown sorghum in the community into sorghum drink alongside some other natural spice additives. The drink was popularly called and known in the Garu community as “Zomkom”. Although there were other women who also processed and sold the drink in the community, the competitive advantage with Mariam Special was on the hygiene and innovative way it was prepared. She was also outward looking and had already made some attempt at expanding her business and passion beyond the community/district and into the villages. This was where her passion and interest caught the attention of a non-governmental organization (NGO) with interest in supporting low incomes in last mile situations. Atinga’s main interest and that of the NGO was hence to develop a route-to-market and associated strategic marketing approaches to reach this type of market or audience in Garu environs in the Upper East region of Ghana.

This case study is suitable for undergraduate students.

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After completion of the case study, the students will be able to assess Paytm’s share buyback in the context of conventional practices, especially for loss-making firms, analyze the influence of initial public offering (IPO) performance on market sentiments and the role of subsequent events in shaping investor confidence, explore the regulatory framework for share buybacks in India and its impact on Paytm’s decision, scrutinize Paytm’s post-IPO financials and evaluate the board’s rationale for the share buyback and examine the factors influencing Paytm shareholders’ decisions amid the buyback, considering market conditions and the company’s outlook.

This case study discusses the unorthodox choice made by Paytm, a leading Indian digital payments and financial services provider, to begin a share repurchase program just one year after its substantial IPO. Paytm encountered difficulties as its stock price experienced a sharp decline of 74% following the IPO, which raised concerns among shareholders and elicited mistrust from analysts. This case study explores the reasoning for the buyback, the legislative framework of share buybacks in India and the diverse viewpoints of analysts regarding the company’s financial strategy. This case study provides not only ample opportunity to discuss ethical issues around managers’ corporate actions but also brings investors a dilemma.

This case study is suited to Master of Business Administration/Master of Science/Bachelor of Business Administration/Bachelor of Science.

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After reading and discussing the case, the students will be able to: apply paid, owned and earned digital marketing tools to Zilli’s, analyze the omnichannel and e-commerce strategy of Zilli’s, evaluate digital marketing strategy of Zilli’s and elaborate resources available to Zilli’s in the context of emerging markets.

Anubhav Bhatnagar founded Zilli’s – The Spice Company to bring grandma’s recipes to modern kitchens. This case study chronicles the growth and challenges faced by the company. Zilli’s philosophy relied on hand-pounding spices, which retained their aromatic signature, flavor intensity, nutritional value and cultural importance better than their commercially processed counterparts. Bhatnagar started his business during the lockdown. The founder aimed to produce spices that were free of preservatives and had long-lasting aromas. His kitchen trials demonstrated that hand-pounded spice powders simplified cooking and improved flavor. Direct manufacturer ties and a Hyderabad production plant managed by local rural women enabled the firm to expand to India and a few neighboring markets. Zilli’s growth was slow due to heavy competition from well-known brands. E-commerce was Zilli’s only viable option. The prospect sounded great, but the company needed to strategize differently to build an effective digital marketing strategy. Marketing and sales of Zilli’s products presented various constraints as it was difficult to convince consumers of Zilli’s products’ authenticity, quality and pricing. Many retail outlets and e-commerce platforms already sold numerous competitor’s products. The company’s aspiration to establish a global footprint could be hampered by low consumer acceptance of Zilli’s goods due to its limited reach. Thus, Bhatnagar sought digital marketing tactics to promote Zilli’s products and create brand awareness and recall for his spice powders in the competitive spice powder category. This case requires the reader to debate, analyze and propose digital marketing strategies to boost Zilli’s product visibility, acceptability and sales. The readers could identify gaps in Zilli’s existing digital marketing strategy and offer suggestions to Zilli’s for increasing spice powder sales in the online marketplace.

This case study applies to a postgraduate-level management course.

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This case study aims to equip students with the skills to evaluate the rationale behind a demerger decision, derive the enterprise value and equity value of the conglomerate using the discounted cash flow valuation modelling and assess the company’s value based on qualitative parameters using economy industry company analysis and strengths, weaknesses, opportunities and threats analysis.

This case study delves into the demerger of the financial services arm of Reliance Industries Limited into a separate unit named Jio Financial Services Limited. The independence of this unit is anticipated to enhance shareholder value and unlock the conglomerate discount. In light of these factors, a fundamental analysis of the firm is conducted to determine whether it presents a viable investment opportunity.

This case study is suitable for -graduate and postgraduate courses in financial management.

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The learning outcomes are as follows: to evaluate the suitability of Surplus business model from accounting, finance, strategy and cultural perspectives; to identify the factors that contribute to the reluctance of business partners to join Surplus ecosystem and to suggest solutions; to identify the factors that contribute to the reluctance of consumers to join Surplus ecosystem and to suggest solutions; and to address unique funding and financial challenges faced by Surplus.

This case study discussed the challenges faced by Surplus Indonesia, a company founded upon the belief that a harmonious balance can be achieved between profitability and environmental stewardship. Stemming from the founder’s encounter with leftover food going to waste after buffets, Surplus embarked on a pioneering initiative using an application technology to address food wastage at the consumer level. Collaborating with various stakeholders such as retail outlets, restaurants, bakeries, cafes and hotels, the goal was to combat food waste while supporting Sustainable Development Goals 2, 12 and 13: Zero Hunger, Responsible Consumption & Production and Climate Action, respectively. Each meal saved through the Surplus app not only translated to reduced expenses for businesses but also contributed to reducing greenhouse gas emissions from landfills. Surplus’ overarching mission was to cut food waste and loss in Indonesia by half by 2030, fostering an environment where food waste is virtually nonexistent in the nation.

Undergraduate as well as graduate courses that focus on sustainability, accounting, financing and strategy

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This case is written to help students understand the concept of segmentation, targeting and positioning in the context of the biscuit industry. The primary learning objectives can be identified as follows: understand the different categorisation in the biscuit market; analyse the basis of consumer segmentation in the biscuit market; analyse the marketing mix strategy of a firm; and highlight the importance of positioning.

Rao, the Director (Marketing) of Mayora India Private Limited, was in dilemma as to how to position Coffee Joy biscuits in the Indian market. The Indian market was intensely competitive with major players like Britannia, Parle and ITC capturing a major share of the market. Should he consider the only the south Indian market based on geography?” Or “Should he target the modern aspirational youth of the country who frequent “Starbucks”?

This case is appropriate for the use in postgraduate course on Marketing particularly on “Segmenting-Targeting-Positioning” (STP) module. The science of STP lies in the collection and analysis of market knowledge and research to understand consumer’s mind, whereas its art lies in generating various implementable alternatives so that the brand can find a place in the hearts and minds of consumers.

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After completion of the case study, students will be able to understand the service offerings within the nascent electric vehicle (EV) sector and end-consumer needs of EV charging services, understand the reasoning behind Sunfuel Electrics (SFEs) prioritisation of destination charging for their first go-to-market (GTM) strategy and appreciate SFE’s use of community marketing and alliance partners to execute its various strategies. Connect game-theory with the proposed strategies.

SFE was an early start-up in EV charging space. The co-founders believed that any success would hinge on their ability to play a differentiated game and carve a distinct yet profitable niche in the EV charging arena. SFE deliberately focussed on “destination charging” and identified a segment that they were confident of making a difference: the discerning high-end consumer. Soon, SFE’s success caught the eye of its deep-pocketed competitors who also entered the same space. As a single service company, the co-founders set in motion a back-up plan and identified three new strategic thrust areas to maintain SFE’s competitive edge. The first involved entering the city charging segment, and the second was a pioneering concept branded “E-Trails” targeted at a community of EV owners who were motor enthusiasts. Thirdly, SFE conceptualised an EV-Roadhouse concept, promising a full-bouquet of select premium services at a pit-stops along the highway. The co-founders needed to test which and to what extent would these initiatives would translate into real gains and if returns were commensurate with investments and SFE’s ability to deliver a scalable consistent experience. Specifically, if these proposed asset-light avenues added the required heft to their GTM strategy.

This case study is suitable for post-graduate students in marketing, strategy, entrepreneurship and sustainability courses.

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After completion of the case study, the students will be able to define and compute equivalent units of production, apply management accounting procedures for manufacturing businesses (Furqani Sugar Mills), calculate product cost and track product cost flows and prepare process cost summary using the weighted average method. By studying this case, learners will gain insights into the challenges and financial complexities faced by a sugar mill and how strategic decisions and economic analysis can impact the sustainability and profitability of such businesses.

This case study explained the problem Mr Zoraiz, chief financial officer (CFO) of Furqani Sugar Mill, was facing. The problems started in the month of November 2020. Mill’s owner Mr Jabbar asked him for suggestions that employees should not be laid off. So he was analysing and estimating the cost of production when increasing production. He was focusing on cost reduction in process or increasing production, and utilization of resources efficiently and effectively. This case study focused on the market segment of the sugar industry for process costing. Furqani Sugar Mill, founded in 1992 in Pakistan (Company Document), had a noble mission to improve the lives of local peasants by producing sugar and molasses. Pakistan heavily relied on agribusiness, particularly sugar production, which contributed significantly to manufacturing. However, Furqani Sugar Mill faced a dire situation despite its vital role. During the sugarcane season, it struggled due to a shortage of raw materials, primarily sugarcane. Zoraiz, the CFO, grappled with running the mill below total capacity in recent years due to two significant issues: government-fixed sugar prices and limited sugarcane supply from local farmers. The high cost of sugarcane hindered Zoraiz’s desire to operate at total capacity. Zoraiz, Furqani’s CFO, must decide what he can do so that the mill can operate at its total capacity. The future of Furqani Sugar Mill hung in the balance as Zoraiz navigated complex financial decisions while striving to uphold the mill’s legacy and commitment to the local community.

This case study is suitable for teaching in several modules, notably managerial accounting and control systems, management accounting decision-making and cost and management accounting. Specifically, it covers performance management and process costing in management accounts. It is appropriate for teaching at the undergraduate and postgraduate levels.

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Upon completion of the case study, students will be able to assess the business environment a firm faces and develop strategies to match its strengths and weaknesses vis-à-vis opportunities and threats; formulate growth/expansion strategies for a firm; and evaluate resources of the firm to develop a competitive advantage.

The case describes the journey of Praajasv Foundation, an institute that provides coaching for students pursuing civil service exams in Gujarat. Established in 2019 in a rented space in Ahmedabad, Praajasv made a name for itself in the competitive market of civil service exam coaching by 2022, thanks to its expert tutors and focus on quality education. However, with the changing dynamics of the industry, Malhar Bhatt, the COO of Praajasv, must navigate the institute to strengthen its position. The increasing number of aspirants for the Class-III cadre exams and the presence of strong national competitors pose significant challenges for Malhar in terms of strategic planning. The rise of online education as an alternative to classroom teaching has also altered the competitive landscape of the industry. How do these trends impact Malhar’s plans for Praajasv? How should Malhar plan to expand the Praajasv Foundation in the coming years?

This case can be useful for students majoring in strategic management and marketing management at the master’s level

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After completion of this case study, students will be able to understand about characteristics of urban poor in the city of Mumbai which will aid in understanding about other emerging markets as well, to apply Health Belief Model to help students analyse behaviour change model, to apply social marketing strategies to popularize a social marketing cause, to learn about non-traditional intermediaries and apply to promote a social marketing cause, to apply Ansoff matrix and evaluate various strategies for growth and to analyse various challenges faced by social entrepreneurs and enable learners to arrive at solutions (applicable for social entrepreneurs and marketing executives).

This case study looked at a Mumbai-based organization, Medow Brite Enterprises, which sold sanitary napkins under the brand FeelOn to women particularly from urban poor background. The protagonist Mrs Ameeta Neel Ramesh was at the helm of the organization and was stuck with a dilemma – whether to enter rural markets or focus on selling incinerators and aid in disposing used sanitary napkins which was adding to the volume of non-biodegradable waste in the city. In 2019, Ameeta made her first investment in Medow Brite. The organization had seen turbulent times during COVID-19 outbreak. However, Ameeta with her astute strategy, helped the company get back on its feet. Medow Brite instead of manufacturing started procuring quality sanitary napkins from specific vendors. In contrast to many other sanitary napkins available in the market, FeelOn had cotton sanitary napkin variant without presence of plastic in the pads. Ameeta had taken a different route for sale of her sanitary napkin, she conducted awareness sessions with the help of non-governmental organizations in various locations of Mumbai as well as Maharashtra. Post these sessions she sold her sanitary napkins among the attendees of the awareness sessions.

The case study can be included in marketing management course, consumer behaviour as well as social marketing courses in both undergraduate level and postgraduate level. In addition, the case study is also suitable for social entrepreneurs and marketing executives to discuss about non-traditional sales and marketing approaches, identifying unique segments and understanding behaviour change theories.

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At the end of the case study exercise, students will be able to evaluate a company’s competitive standing and formulate business growth strategies based on internal and external environment analysis, develop business strategies for a company to strategise product offerings and recommend promotional strategies for a company to best market new product offerings.

This case study is about the Central Production Unit (CPU), a wholly owned subsidiary of Sirah Heritage Holdings Sdn. Bhd. (owner of the popular restaurant brand “Tuuu […] Dia Pak Tam”), which was initially set up to standardise production for the whole company. However, ever since the subsidiary was set up, the management realised a few pertinent issues that needed their attention. Firstly, the CPU was underutilised even with the large number of Tuuu […] Dia Pak Tam restaurants across Peninsular Malaysia. Furthermore, the CPU was also tasked to introduce new products and services that could attract consumers and increase the visibility of their restaurants, but the company had no idea how to promote its new products. This study aims to look at the issues faced by the CPU by applying analytical tools such as SWOT analysis, Ansoff matrix and promotion mix.

This case study is designed for undergraduate and postgraduate students who are taking courses such as strategic management, marketing management and business development. This case study can also be used by training departments, corporate trainers and other relevant managers to improve growth strategies using business theories.

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After completing this case study, students will be able to understand the issues firms, brands and influencers face due to sponsorship disclosure regulation and the impact of self-regulation on firms engaging in influencer marketing, explain the challenges regulators face in ensuring compliance in an emerging market, explain Advertising Standard Council of India (ASCI)’s challenges in adopting influencer guidelines from emerged markets and recommend ethical theory (or theories) and strategies to firms engaged in influencer marketing.

This case study centers on Mr Manish Chowdhary, co-founder of WOW Skin Science, who started the beauty and personal care business with his brother Karan Chowdhary in 2015 in Bangalore, India. The company successfully built its brand through influencer marketing but faced challenges after the ASCI implemented new influencer guidelines. On May 31, 2021, he expressed disagreement with ASCI guidelines during an interview with Akansha Nagar from Buzz in Content, particularly the requirement to label every product or service received by influencers as an advertisement. He expressed concern about certain rules, fearing they might harm organic content and reduce viewership and followers. Subsequently, ASCI registered noncompliance cases against the company and communicated with them about complaints regarding influencer guideline violations. In this situation, Manish needed to evaluate his decision on noncompliance with regulation and required an action plan to strategically manage its influencer marketing campaign by incorporating ASCI’s guidelines. Overall, this case study highlights the journey of WOW Skin Science and its challenges with self-regulatory authorities over its influencer marketing strategy in an emerging market. Additionally, students can gain insight into the marketing communication ethics of a startup operating in an emerging market by embodying the protagonist’s role.

This case study is suitable for postgraduate level students pursuing a Master of Business Administration program. The difficulty level ranges from moderate to complex. It fits well into integrated marketing communication and marketing strategy courses. This case study discusses marketing ethics, advertising and promotion regulation.

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After completion of the case study, the students will be able to understand the complexity of diversification and market expansion strategies in a growing consumer-driven market context, apply strategic frameworks to analyze the Indian oral care market, analyze brand positioning principles to develop a marketing strategy for Aquawhite and evaluate and identify the pros and cons of the various decisions taken during market diversification.

This case study seeks to examine the market expansion dilemmas faced by Aquawhite, a brand in the oral health-care sector, and the role of key decision-makers in addressing these challenges. This case study aims to provide insights into the complexities of brand extension and market expansion strategies in the context of a developing consumer-driven market. This case study is structured as a qualitative analysis based on publicly available information, including Aquawhite’s historical data, market trends and industry reports. Additionally, insights from relevant interviews with key stakeholders within the company have been considered to present a comprehensive view. This case study highlights the dilemmas faced by Aquawhite as it navigates market expansion. It reveals the critical role of Nikhil Nanda, the managing director in addressing these dilemmas and shaping the brand’s future. This case study emphasizes the need for a strategic approach that balances market dynamics with brand identity.

This case study is suitable for use in undergraduate and postgraduate-level courses on marketing management and strategic management. This case study provides insights into brand development, market entry and expansion strategies. It can be used to discuss the marketing mix, segmentation and targeting, as well as competitive analysis.

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Through analysis and discussion of the case study, students should be able to understand the marketing mix concept in the context of the retail industry, analyse how the adoption of new media such as social media transforms the elements of the marketing mix and evaluate the marketing mix strategies and their influence on future buying behaviours.

Founded in 2012, “Gecko Kids” is a designer clothing brand based in Mauritius, renowned for its vibrant and playful designs catering to children's fashion and lifestyle. Inspired by the lively spirit of Mauritius, Gecko Kids offers a diverse range of clothing and accessories designed to ignite children's imaginations and celebrate their sense of adventure. In addition to its captivating designs, Gecko Kids, under the leadership of its lead designer, Varnee Moodely, is committed to sustainability, using organic and ethically sourced materials wherever possible. Through responsible manufacturing processes and partnerships with local artisans, the brand strives to minimise its environmental footprint while supporting the communities that inspire its creations. After 32 years in operation, the brand finds itself struggling with challenges stemming from its current marketing mix strategy. This case study delves into the brand’s struggles across the 4Ps – product, price, place and promotion – and explores potential solutions, especially in the 21st century where most companies are adopting digital marketing strategies. Can the company rectify the repercussions of an inadequate marketing plan to sustain the Gecko Kids brand as a thriving local Mauritian entity?

This case study is suitable for undergraduate-level programmes in marketing.

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After completion of the case study, the students will be able to critically analyze the business model of Desiri Naturals, analyze the pricing strategy of Desiri Naturals, examine the importance of experiential marketing in the success of an environment-friendly business, identify the challenges faced by new entrepreneurs and evaluate the sustainability practices of Desiri Naturals.

This case study discusses the business model of an environmentally friendly business. The challenges and obstacles faced by entrepreneurs are illustrated in this case. The entrepreneurs’ vision to provide chemical-free food is highlighted and their business operations as a means to fulfill this vision are explained. Desiri used an age-old bull-driven method of oil extraction (Ghana). Challenges in pricing due to the availability of low-priced mass-produced edible oil using the solvent extraction process are presented in this case. The entrepreneurs faced the pricing dilemma at the inception of the business, as oil produced using the natural cold pressing method cost three times the selling pricing of solvent-extracted oil. Innovative methods of experiential marketing such as Ghana tourism are explained in this case. This case study also explains the sustainable and natural farming techniques propagated through its network of farmers. This case study provides insights into the scalability of this model and the scope for employment generation in rural India. The environmentally friendly practices followed by Desiri, such as the use of glass bottles and reusable steel containers for packaging oil are emphasized. Finally, this case presents the marketing and operational challenges faced by entrepreneurs in their quest to expand their operations.

This case study can be used by postgraduate and undergraduate students studying marketing, entrepreneurship, sustainability and operations management courses in commerce and business management streams.

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After completion of the case study, students will be able to appreciate the challenges in managing a pharma sales team by learning the nuances of business hygiene, learn how new managers taking over a pharma sales team analyze data of a sales territory by balancing both quantitative and qualitative factors, evaluate the challenges of performance management of sales teams and balancing the expectations of various stakeholders, understand the approach of sales and effort hygiene – correlating data points that may not be directly connected but have a dependency and learn to forecast and build a business projection

Innov-Health’s dermatology (skin and hair) division in West Bengal, an Eastern state of India, recently hired Pradeep Vir as the area business manager. Innov-Health, a leading 100-year-old global healthcare player, was headquartered in the USA, with categories spanning oncology, immunology, neurosciences, metabolic, dermatology and pain management. Its brand Acnend, an acne cream, the only product in the division, was a market leader in India. Acnend required doctors’ prescriptions to be bought and was sold by pharmacies via distributors. In India, Acnend was doing well at the end of the first quarter (January–March) of 2022 in a highly competitive product category. Vir had just joined the West Bengal territory with four major cities, each with a district manager (DM). The position had been vacant for the past three months, but the DMs had done well in their sales performance for Quarter 1. All of them had achieved their targets, so Quarter 2, when he joined, started on a high note. But Salil Govind, the regional sales manager, his boss, was very concerned that a territory that had no manager had been consistently doing so well. He was concerned that the territory had far greater potential than the Quarter 1 projections had laid out. Govind now wanted Vir to re-work the Quarter 2 projections of West Bengal on priority since April had already begun. As Vir started working on the data, he was perplexed. While at a very obvious level, all four DMs were outperforming, there were gaps in varying degrees in the effort levels of each. The cumulative key performance indicators such as inventory, call average and doctor coverage and the data essentials for business hygiene[1] were worrisome and needed to be addressed. In addition, the doctor coverage, resulting in conversion, left a lot to be desired. However, he was conscious that he was new to the organization and would have to tread carefully. He wanted to do well. Vir got down to analyzing and taking action.

This case study is suitable for use in graduate-level management programs. It can be useful in courses such as sales management, marketing strategy and marketing analytics. The case study is also well suited to introducing students to the basics of sales, sales productivity, territory management, managing a team and business forecasting. The case study provides students a step-by-step understanding of business hygiene, and how just looking at overall sales numbers may not be conclusive, but a deep dive into effort and productivity is far more useful for forecasting.

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After completion of the case study, students will be able to enumerate the unique characteristics of business-to-business (B2B) versus business-to-consumer marketing, explore strategic positioning and how niche marketing can create a competitive advantage, deduce the significance of core values in corporate culture and decision-making, explore innovative partnership and talent acquisition models, infer the role of educational marketing in sectors where clients are not fully aware of their needs and apply strategic decision-making to balance short- and long-term goals in terms of profitability and growth.

This case study tells the story of BarkB2B, a boutique marketing firm specialized exclusively in B2B marketing. Founded in Egypt in 2018, BarkB2B focused on creating long-lasting partnerships with clients in industries such as IT, logistics, construction and renewable energy. The case explores the critical aspects of BarkB2B’s business model and offers a comprehensive view of real-world challenges and opportunities in the B2B marketing landscape. It helps learners understand strategic positioning, core values in decision-making, innovative partnership-based business models, the role of educational marketing and the complexities associated with growth. It concludes by highlighting the dilemma faced by BarkB2B’s founder and managing director Naela Sakr as she reflects on the challenge of maintaining the company’s positioning while achieving greater profitability and growth.

The case study is intended for undergraduate and graduate students in marketing, strategic marketing, consumer behavior and entrepreneurship courses. It is also beneficial for marketing professionals, entrepreneurs, corporate training and executive education programs.

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The case study’s primary learning objectives are to develop a number of professional competencies, such as personal ethics and citizenship, decision-making acumen and business acumen. Students deal with a novel situation, underpinned by four Sustainable Development Goals (reduced poverty, quality education, decent work and economic growth, and reduced inequalities) and are required to consider a broad range of historical and cultural nuances in a resource-constrained environment, to address the dilemma at hand.

This case study tracks the efforts of a non-profit company called Just Grace, which was established in 2012 in Cape Town. Just Grace’s mission is to uplift the Langa community, an underprivileged urban suburb in Cape Town, via educational, career development and social programmes. Just Grace’s programmes have achieved success in Langa. The dilemma now facing Just Grace is whether their existing model is transferable to a rural community in the Eastern Cape in South Africa.

The case study is aimed at both local and international postgraduate students studying an honours or master’s degree in a business-related field such as accounting or an MBA.

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Upon completion of the case study, student will be able to discuss valuation of new-age ventures and understand how it is different from the valuation of organisations with a longer history; analyse the considerations (quantitative and qualitative) while evaluating investments in new-age ventures; and develop a framework involving the various dimensions of investment readiness.

The fintech space in India has seen an upsurge of activities since 2016. The growth of Paytm, RazorPay and many such ventures and the drastic improvements in this ecosystem have been significant catalysts for this segment of new-age tech companies. Funding and valuations have seen a sharp increase, especially when businesses worldwide felt the after-effects of the pandemic, with India being home to a large number of unicorns, second only to the USA. Open Financial Technologies Ltd (OPEN TECH) is one such venture that claimed its spot as the 100th unicorn of India within a span of five years since inception. With a strong focus on disrupting the banking sector in India, this neo-bank aspires to be the equivalent of Stripe in India and eventually be a strong competitor in the international market.

Richard O’Neil is an active investor in the fintech space, based out of the UK, and he is currently looking to expand the market by considering investment options. In the process, Richard and his team have identified India as a viable and competitive market, as new venture support and funding are increasingly emphasized through policies such as Startup India, Make in India and many such more to sustain and propel its benefits. As the team was exploring ventures worth investing, Open Financial Technologies caught their attention. However, Richard, given his experience across fields and being a seasoned private equity investor, realised that valuing new-age companies is as much an art as it is a science. Multiple quantitative and qualitative aspects need to be considered while relevance of traditional valuation techniques to put a value on such entrepreneurial ventures is questioned. At this juncture, he finds it crucial to evaluate the investment readiness of OPEN TECH.

This case allows students to understand how valuation of new ventures is different from that of established companies and analyse the crucial factors worth considering while evaluating an investment proposal as a venture capitalist, which eventually helps shape the funding pitch of an entrepreneur in the space.

This case study can be useful for students undertaking graduate- and executive-level courses on business valuation and strategy and entrepreneurship, as well as entrepreneurial finance elective at the undergraduate level. One could use this case in courses on entrepreneurship and innovation, such as an introductory course on entrepreneurial finance and a course on venture capital and private equity. It also allows discussion on fintech and neobanking and the valuation of privately held companies.

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This case aims to introduce students to the social sector financing (internal and external) landscape, and its nuances. It specifically provides material to enable critical evaluation and decision-making around financing a for-profit social enterprise and its associated challenges.

The case highlights the fundraising options available to a social enterprise in an emerging economy like India. EnglishHelper Technologies Private Ltd. (EH) commenced operations in 2011 as a subsidiary of its parent Boston-based company, to provide technology-based learning solutions primarily to the underserved segments of the country’s population. Sanjay Gupta, co-founder and CEO, EH Inc., wanted to explore funding options suitable for the company’s next growth stage. The existing funding sources of equity from its parent company, grants and revenues (mainly from product sales to government schools) had worked well for EH in the initial years of its growth. But its financial performance was being impacted, and, additionally, further scaling up would require sources that could give a much larger quantum of funds and add support to EH’s operations. EH would also need to revisit its revenue model to strengthen its financial sustainability, by drawing lessons from the other prevalent ones in the ed-tech sector and make it more effective. The case encourages students to assess the various funding alternatives, internal and external, for a social sector private company with a for-profit model like EH, to enable it to achieve its scaling-up plans while serving its social mission.

The case is relevant for both undergraduate and postgraduate students and can be used in business administration programs.

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