Case studies

The learning outcomes of this study are as follows:

1) illustrate the project management failures that contributed to the fire accident at Grenfell using a fishbone diagram;

2) identify and classify the power and influence of various stakeholders involved in a brownfield project using a relevant framework; and

3) elaborate the need for following effective stakeholder management processes and project leadership, especially in the context of a refurbishment/renovation project.

On 14th June 2017, the Grenfell Tower in North Kensington, West London, UK, caught fire. The fire raged for 60 h and around 72 people lost their lives. Many criticized the response of the London Fire Brigade (LFB) and their lack of preparedness to respond to such an emergency. There were calls for Dany Cotton, the Chief of LFB, to resign. However, there had been a major cladding-related refurbishment at Grenfell, and subsequent investigations revealed that the use of combustible materials, a lack of compliance with the fire-safety norms and a blatant disregard for resident safety had contributed to the fire. The tragedy was a cumulative outcome of failure on two counts: effective project management and stakeholder management during the process of refurbishment, especially in the context of a low-cost housing project. Given this situation, this case considers whether Dany Cotton should own up to her responsibility and resign from her position. In the process, the case considers Grenfell refurbishment from the theoretical lens of project management in the construction management scenario to understand the factors that could have led to an “avoidable” tragedy.

Postgraduate students of construction management; final year undergraduate engineering students who have a foundational course on project management; and architects.

Teaching notes are available for educators only.

CSS 2: Built environment.

The learning outcomes are as follows: to be able to evaluate early warning signs/red flags through financial statement analysis; to be able to analyse company’s credit or debt servicing using a thorough process of fundamental analysis; to be able to analyse and decode the financial health of an organization through different financial tools applicable according to the industry such as default probability and financial ratios; and to be able to synthesize credit rating framework and role of credit rating agencies in the bond market.

In late January 2019, the allegation by an online investigative portal about the misuse of the Dewan Housing Finance Corporation Ltd. (DHFL) money by its promoter for buying asset abroad was the start of the fall of the non-banking finance company giant. This was followed by a series of downgrade by credit rating agencies on its debt and eventual default on its interest payment on 4 June 2019 which upset multiple portfolio investors and the regulators. Investors became sceptical about the regulator’s policy and inefficiencies of credit rating agencies in predicting the default along with asset management houses which were expected to guard investors’ interest. One investor, Shikhar Pachori, decided to scrutinize all hidden information on DHFL to investigate if DHFL crisis arises because of unknown factors which was not in control of management or if it a clear negligence on the part of all involved parties. The case tries to emphasize the aspect of Asset-Liability Management and process of credit analysis while looking for red flags which aids in identifying any stress in company’s financial or any potential default by company.

This case can be used in the advance level of post-graduate finance course or MBA program for elective/specialization courses such as Financial Statement Analysis, Financial Institutions and Market and Fixed Income.

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CSS 1: Accounting and Finance

Through this case, participants will be able to:

▪ understand the different approaches to preparing operating budgets;

▪ classify the costs based on traceability to its cost centres;

▪ understand the difference in budget preparation and its analysis under different cost centres;

▪ put together the required information, identify the format and prepare major operating budgets; and

▪ evaluate operating budgets and give suggestions to the company based on budget analysis.

This case is about a manufacturing company that is going to introduce a budgeting system. It highlights the process of information collecting from key employees for budget preparation. This case also deals with various decisions to be made during the implementation of the new system such as the context of budgets, cost units and sequence of budgets.This case will help students to enhance their understanding of the operating budgets. The students will able to visualize the difficulty faced by companies to implement a new system.

This case is applicable in the courses such as Master of Business Administration, Master of Commerce or other postgraduate studies. This can also be discussed in professional courses such as Chartered Accountants, Certified Management Accountants, Company Secretaries, Institute of Cost and Works Accountants of India and Chartered Financial Analysts.

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CSS 1: Accounting and Finance.

Supply Chain Management, Technology, Procurement, Supply Chain Finance

The key learning objectives are as follows: to gain critical insights into e-commerce supply chains of fashion garments; understand the importance of digitization to manage the risks due to supply chain disruptions; evaluate the role of digitization to improve supply chain performance; understand the importance of supply chain finance in maintaining a healthy buyer–supplier relationship; and appreciate the role of supply chain digitization to transform a regional supply chain into a global supply chain.

This case highlights the challenges faced by fashion garments industry due to fragmented nature of their supply chains, where the manufacturing base was in the east and most of the consumers in the west. Digitization can create a bridge to integrate these supply chains to drive out their inefficiency, fragility and vulnerability to disruptions.

The case could be discussed in 90 min of an Operations Management, Supply Chain Management and Technology Management class at MBA or Executive MBA level.

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CSS 9: Operations and Logistics.

At the end of the case, a successful learner will be able to:▪ develop sound criteria to guide investors entering into hotel management agreements (HMAs);▪ reconcile principal and agent disputes through the lens of an agency framework; and▪ evaluate the impact of the work environment on employee and organisational outcomes.

Muyiwa, Chairman of Fara Ltd., signed a HMA with Aytello Hotel Group to operate his hotel in Nigeria, the Mélange Abuja. Aytello was an international hotel management company based in the USA. It was a renowned operator with several brands in its portfolio. The Mélange brand was contemporary, upscale and targeted young business guests with an appetite for adventure. It was the first Mélange to have opened in West Africa. A management agreement was signed in August 2016, which meant that Aytello was now responsible for operating the hotel on behalf of its Owner, Muyiwa. On his part, Muyiwa provided the funds needed to run the hotel profitably. However, soon after the opening, the operator and owner showed signs of conflict. Muyiwa began to distrust the operator and intervened directly in operations. The frequent clashes between Muyiwa and the operator soon led to an impasse that made productive dialogue difficult. As relationships soured, Muyiwa needed to make a decision soon. This case study is designed to teach agency relationships in organisational behaviour.

This case study is designed for business leaders on executive programmes and postgraduate students.

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CSS 12: Tourism and Hospitality.

After reading the case, the students shall be able to explain the concept of insider trading and differentiate between illegal insider trading and legal insider trading, business ethics, financial institutions, financial markets and accounting; to interpret the legal framework for prevention of insider trading; to identify the role and significance of the market regulator, Securities and Exchange Board of India (SEBI), in detecting financial crimes such as insider trading; to demonstrate the association between information, stock trading and stock prices within the framework of efficient markets; and to appraise the ethical dilemma in a family-owned firm, where the family members of the promoter group are alleged to have indulged in a financial crime.

The case revolves around allegations of insider trading against the promoter and the promoter group of the family owned and controlled firm, Lux Industries Limited. On January 24, 2022, the SEBI, the regulator of securities markets in India, accused Udit Todi, the Executive Director of Lux Industries Limited, of engaging in insider trading through a chain of 14 connected parties. Udit Todi was also the son of the Managing Director, Pradip Kumar Todi, and the nephew of the Executive Chairman, Ashok Kumar Todi. In its interim order, SEBI alleged a breach of insider trading regulations by a group of 14 connected entities that had built up long positions starting from May 21, 2021, before the quarterly financial results (Q4) and the annual results of the financial year (FY) 2021 in the equity shares of Lux Industries Limited, with its registered office in Kolkata, India, were announced. Subsequently, they squared off the long positions to make a profit of ₹29.43m. To restore the confidence of the investors, the Executive Chairman, Ashok Kumar Todi, needed to review the matter expeditiously and impartially. Taking into consideration the family ties of the accused, it was not going to be an easy task, yet, it had to be done. The case highlights the role of the regulator, SEBI, in unearthing financial frauds such as insider trading in an emerging market such as India.

Postgraduate programs in management, Executive education programs.

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CSS 1: Accounting and Finance

1. What are public goods? What are the defining characteristics of public goods?2. What is special about managing common resources like Markhors/Ibex (and other rare species)? What is the free rider problem?3. How the incentives-based system works?4. What are the consequences of Community Trophy Hunt Program (CTHP) in Pakistan?

Learning objectives are as follows:1. applying new approaches to manage common resources;2. understanding the various types of goods that society needs for its material progress;3. understanding the challenges associated with the management of common resources because of their particular nature; and4. understanding the need for incentive-based engagement in the management of public policies at the community level.

Management of shared resources is challenging. This case uses the problem of a forest officer who was given the task of managing the animal population of the region. The primary focus of the case is common resources and how it can be managed through incentive-based system. The case demonstrates how individual actions have external effects. These external effects are sometimes good for the community, but sometimes, they are bad. Many desirable outcomes require social cooperation, but they cannot be achieved because individual self-interest dominates collective well-being, the issue called Prisoners' Dilemma. Gulnar (the fictional forest officer) was convinced about the potential of managing common resources by means of a CTHP in the Gilgit–Baltistan region (in Pakistan). The CTHP provided not just environmental benefits but also substantial social and economic benefits to the local community. The financial gains from the initiative can be used in community projects that help locals become less reliant on their natural environment, create more space for wildlife and enhance the quality of life for people.

BS (Hons.) Economics, MS Economics (Public Policy), MBA (Business Economics)

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CSS 4: Environmental Management

▪ Students learn how an educational institute impacts water resources on the campus and its surrounding community.

▪ Students acquire knowledge on how decision-making, related to natural resources, is influenced by the institute’s obligations towards surrounding communities and the long-term sustainability of the resources.

▪ Students become acquainted with the decision-making process adopted by an educational institute for achieving resource-efficient development on the campus.

▪ Students learn how to design evaluation methods for investments related to water conservation at an educational institute.

▪ Students become proficient with the payback method specifically when evaluating water-enhancing projects at an educational campus.

Dr Ajit Parulekar, Director at Goa Institute of Management (GIM), Goa, India, was evaluating options to improve the sources of water at GIM at the beginning of 2021. He was reviewing the projects proposed to meet the water requirement at the campus for the next five years (2021–2025). The projects were recommended by consultants (ENV Consultants Pvt Ltd) who proposed a total expenditure of US$68,667 which involved storage enhancement and water table upgradation (See Case Exhibit 11). The maintenance department had studied the plans but their projections showed that the execution of these projects and initiatives would still lead to a deficit of water in the future. Dr Parulekar reviewed the reports and weighed the expected tangible and intangible benefits from the proposed projects. The projects had to be carefully selected, keeping in mind the multiple objectives to be met: an increase in water supply within a short time, a financially optimum investment and a minimum impact on the surrounding community. The selected projects had to meet the long-term sustainability objective of resource efficiency at the campus.

Students studying finance, project appraisal, campus sustainability at graduate or postgraduate management programs.

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CSS 4: Environmental Management.

At the end of the case students will be able to:

1. Relate risk as one of the 12 principles in project management contemplated in the international standards of the PMBOK Seventh Edition guide.

2. Determine high-level risks by articulating the WBS and RBS of a construction project.

3. Perform a qualitative and quantitative analysis of the probability and impact of risks through the heat map tool and the Expected Monetary Value (EMV) technique.

4. Propose the different response strategies contemplated in the risk management through the formulation of a response and contingency plan.

MORESA S.A.S was a family company founded in 1994, whose value proposition focused on construction and permanent advice for the execution of innovative and contemporary projects with more than 27 years of experience in the city of San José de Cucuta, department of Norte de Santander, Colombia. The objective of the case is to Relate risk as one of the 12 principles in project management contemplated in the international standards of the PMBOK Seventh Edition guide; Determine high-level risks by articulating the WBS and RBS of a construction project; Perform a qualitative and quantitative analysis of the probability and impact of risks through the heat map tool and the Expected Monetary Value (EMV) technique and propose the different response strategies contemplated in the risk management through the formulation of a response and contingency plan. The teaching case is designed for academic programs in areas of knowledge of civil engineering, architecture and at postgraduate level such as: Master’s in civil engineering, Master’s in risk management, Master in project management or MBA. For this case, an expert judgment was developed with professionals belonging to different areas of knowledge. Likewise, secondary information was collected from the organization's strategic documents and the analogous estimation through the historical records of the project portfolio developed by the construction company. Finally, the case, classified in the Built Environment, a challenge that project managers must face in VUCA environment through risk management.

The teaching case is designed for academic programs in areas of knowledge of civil engineering, architecture and at postgraduate level such as: Master’s in civil engineering, Master’s in risk management, Master’s in project management or MBA. In the modules of risk management, project management, international standards, the case guides the applicability of methods and artifacts used in risk management considering the process identification, quantitative, qualitative analysis, and development of response strategies and contingency plans.

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CSS 2: Built Environment.

▪ Perform relevant analysis (financial and non-financial) related to investment decision-making.

▪ Make decision based on the analysis.

Jade Sdn. Bhd. (JADE), since its establishment, has been mainly involved in providing services in facility management and cleaning services. Apart from these main services, JADE was also involved in hospitality management, travel and tours, and agribusiness. The current involvements were already varied, and the Board was thinking of furthering the diversification activity to generate more revenues. As the Chief Executive Officer (CEO) of JADE, Ahmad was required to conduct the necessary analysis and provide his recommendation to the Board whether JADE should proceed with the purchase of Tulip Garden Hotel (TULIP). He had one month to act before proposing his recommendation to the Board.

Undergraduate and Postgraduate

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CSS 1: Accounting and Finance.

The case primarily focused on a real-life problem and shows that existing operations management tools can be used to solve a complex problem. Through this case, the participants will learn the application of the factor loading method and aggregate planning.

This case revolves around the Modi Agro Pvt. Ltd, a mango procurement and distribution business established in 1994 by Mr Dhanush Modi in Mumbai, India. Mr Mahendra Modi, son of the company owner, observed that the different seasons of cultivation and varied customer demands lead to changing workforce requirements during the procurement process. In addition, the production quality, variety, available resources, procurement location and cost play a significant role in establishing a long-term relationship with the customers. This case highlights the problem faced by Mahendra in determining an appropriate location among all available options for mango procurement and the optimal workforce for each month to meet the varying customers’ demands.

The case can be used as teaching material for participants of the course Service Operations Management, Operations Management, Decision Analysis and Quantitative Techniques

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CSS 9: Operations and logistics.

▪ Identify and explain the factors that contribute to the success of a restaurant business.

▪ Analyse different sources of entrepreneurial finance.

▪ Identify and explain local entrepreneur’s expectations from a funding agency.

▪ Evaluate investment decision-making criteria for entrepreneurial funding agencies.

Kartikey Rajput, the promoter of a food park Urban Chowk, was waiting for the Covid regulations in the country to be relaxed. The entrepreneur in him found a business opportunity to provide hygienic food with a beautiful ambience and floated a food park (Urban Chowk) with the support of his wife Nikita Agrawal in 2017 and the second edition amidst Covid in 2020. The business model was well-appreciated by food vendors as well as customers. Rajput could see future growth potential in urban India. But his aggressive business plan to open five food parks in different cities in the next three years was disrupted due to the Covid pandemic. The expansion required huge investments, and post-pandemic challenges were plenty. The decision to go beyond Ahmedabad required the selection of cities besides the major challenge of the financing choice. The new cities might have huge footfall potential but finding the right location at the right price was a different challenge. Rajput was also concerned with the sources of getting the required finances. The entrepreneur was contemplating and evaluating the alternative sources of finance available to a start-up.

This case is appropriate for a graduate and post-graduate level programme in the courses like entrepreneurial finance, entrepreneurship and strategy. This case can also be used in an executive programme on management and Management Development Programmes (MDPs) on entrepreneurship or entrepreneurial finance.

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CSS 1: Accounting and Finance.

The learning outcomes are as follows: to decipher the role of technology in the supply chain management (SCM); to understand the importance of supply chain integration with various stakeholders in the supply chain in increasing efficiency and effectiveness; and to comprehend the challenges in the implementation of technology in SCM.

This case study presents Haryana’s challenges in implementing the digitization of the supply of food grains to the public. Mr Srinivas, a consultant to the Department of Food and Public Distribution, is required to suggest the future roadmap while accounting for the challenges faced in the digitization of the distribution of grains to the public in the state of Haryana. The students are expected to use the information given in the case and exhibits to discuss and critically think about the various stakeholders involved when change initiatives are implemented on an organizational level and recommend solutions based on the voices of various internal stakeholders.

Postgraduate/Masters in Business Administration/Masters in Management.

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CSS 9: Operations and Logistics.

The learning outcomes of this study are as follows:1. Learn to analyze a hostile takeover bid from the perspectives of the acquirer, target firm’s management and a large institutional investor in the target firm.2. Review the structuring, financing, valuation, mode of consideration, legal and regulatory aspects of a hostile takeover.3. Understand the role of the target firm’s board in a hostile takeover transaction.4. Address “to sell or not to sell” dilemma of a large institutional investor in the target firm in the event of a tender offer given financial and non-financial considerations.

On June 14, 2019, Pulak Prasad, Founder and Chief Executive Officer (CEO) at Nalanda Capital, in consultation with other managing partners at Nalanda Capital, had to decide whether to tender a 10.6% equity holding in Mindtree Ltd. in an unsolicited open offer made by Larsen and Toubro (L&T) Ltd. Until then, Nalanda Capital, led by Prasad, had aligned with the Mindtree founders and had led a campaign to thwart L&T’s bid to acquire Mindtree; L&T’s offer to acquire 31% of Mindtree shares was because of open on June 17, 2019 and it is time for Prasad and the management team to take a reasoned call – whether to stay in Mindtree or to exit? Associated aspects included – What could be the consequences of not selling the stake? What could be L&T’s game plan? Could Mindtree continue to create wealth for its shareholders under L&T?

This case is appropriate for Mergers & Acquisitions and Strategic Financial Management courses in modules focused on structuring, financing and takeover defence techniques in a hostile takeover transaction. The case is appropriate for graduate MBA and EMBA programmes.

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CSS 1: Accounting and Finance.

This case aims to help students achieve the following learning objectives: ■ to apply the Emergence of Social Enterprise in Europe (Emergence des Enterprises Sociales en Europe – EMES) Network definitional framework to the case, and in doing so, have a useful framework to define social enterprises in emerging markets; ■ to identify the factors that can play important role in making strategic decisions in social enterprises; ■ to evaluate the sustainability of a social enterprise; and ■ to address the unique funding and financial challenges faced by social enterprises.

This case study discusses the dilemmas related to business expansion faced by Waste4Change (W4C), a waste management organization based in Bekasi, Jakarta, Indonesia. W4C was founded in 2014 by a group of young men who shared the idealism of changing the world by doing the right things. This principally involved protecting the environment and educating communities while maintaining economic profitability. However, idealism can sometimes create dilemmas within decision-making as an organization attempts to prevent market logic from dictating its direction. This case examines two different types of decision: the problem of securing a waste management contract when a permit had not been granted by the local government; and the problem of selecting the appropriate funding sources to enable the organization to grow. The first decision occurred in the context of a dilemma in 2017 when W4C expanded their waste management services to several regions in Indonesia but without having succeeded in securing a permit from the local government to provide such services. Attempts to provide such services without a formal legal permit would have been considered a violation of the law, even though the clients needed them (be it residents or companies) and the nature of the service in question had a positive connotation (i.e. maintaining the cleanliness of the city through waste management).The second decision concerned W4C’s plan to go public around 10 years from now. The CEO, Mohamad Bijaksana Junerosano, also known as Sano, has been considering this option since 2020 in a bid to grow the social enterprise. W4C differed from other startups; however, in the sense that while many startups will approach a plan to go public as an exit strategy, Sano wanted to preserve the idealism that had been a cornerstone of the enterprise since its inception. In other words, for W4C, going public was not just a means to an end.

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

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CSS 1: Accounting and Finance.

The key teaching objectives of the case are the following:▪ to develop an awareness of a megaproject’s external environment (through PESTLE) in terms of challenges from each source;▪ to introduce theory that allows students to identify, characterise and describe factors that can lead to inter-organisational conflict during construction projects;▪ to develop the ability to apply the typology of causal factors (identified in Objective 2) to a given context, answering why each factor may have contributed to the given contractual dispute;▪ to develop an understanding of the procurement and contract management process wherein contracts are not only the logical outcome of the procurement process but also the primary vehicles for clarifying responsibilities (for task completion) and risk transfer; and▪ to understand specific dynamics of construction projects that make disputes inevitable and ways to overcome these.

Priced at US$1.63bn (in 2015), the Orange Line Metro Train (OLMT) project in Lahore was one of Pakistan’s earliest (and costliest!) transport infrastructure megaprojects ever undertaken. Devised to ease congestion in Lahore, promote ecofriendly, efficient, modern and affordable transport systems and lead to improved mobility across Lahore, the OLMT was a socially, politically and economically important project.The case is seen through the eyes of the protagonist, Uzair Shah, a seasoned public servant and an experienced Transport Engineer. At the time of the decision, Shah was General Manager – Operations at the newly established Punjab Metrobus Authority (PMA – the project sponsor) and was also the project lead of OLMT’s Project Management Unit (PMU). Through Shah’s eyes, students approach the project at a juncture when the most serious contractual dispute in the project’s history has erupted. The parties at the interface were Lahore Development Authority (LDA), PMU’s technical interface with contractors and consultants and Maqbool-Colson Joint Venture (MCJV), one of the two civil work contractors hired for OLMT’s civil works.While quality issues had been emerging with MCJV for a few months, LDA had maintained unilateral communications and remained considerably adversarial in their dealings with MCJV. Eventually, in October 2016, this relationship had soured to such an extent that it appeared irreconcilable. It was only then that LDA had recommended Shah to take the contractor to court for non-performance.The decision that Uzair faced was whether to take LDA’s advice and take the contractor to court (terminate the contract, claim performance guarantee and appoint a new contractor) or negotiate and continue with the current contract. The decision had huge financial, legal, reputational, political and schedule-related implications. The decision needed to be taken by the protagonist in the context of all these factors.

The case was initially developed for use within a Procurement and Contracts Management course for a (business) executive audience. The case is intended for the business school audience or students enrolled in courses related to the construction management discipline.Courses where the case can be used include Construction Project Management, Public Sector Projects, Contracts and Procurement and Strategic Projects and Practice (or similar). The case can also be used within an MBA setting.

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CSS: 9: Operations and Logistics.

In this case study, the alternative route designs were observed to significantly decrease transportation costs and the total distance traveled. This decrease in logistics requirements almost halved the annual number of shipments and the time needed for operation and documentation activities. In addition, reduced carbon emissions made this an environmentally friendly transportation model, in line with trends in society.

The basis for this case study was the analysis of Whirlpool Turkey’s transportation system for materials used in the production of white goods. Data obtained through fieldwork and cooperation with company consultants showed that some suppliers have high annual logistics costs. This inefficiency causes time loss and increases the total distance traveled and thus carbon emissions. In the case study, the current application created inefficiency in cost and time management, and therefore, after determining the factors that increase costs, different transportation solutions were developed accordingly.

This case is particularly designed for undergraduates in the final semester of management courses that specialize in supply chain and operation management.

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CSS 9: Operations and logistics.

This study aims to introduce students to uncontrolled and unprecedented business scenarios and strategies to deal with them, to make students understand the importance of contingency planning and create what-if scenarios, to step by step guide students how to build a network contingency planning tool and to enable students to use tools such as solver to build up a dashboard with given information.

The case is about Godrej Commercial, a vertical of Godrej and Boyce that handles warehousing and transportation support to five verticals under the banner of Godrej operating pan India. How Godrej is trying to deal with COVID pandemic, what were their coping strategies and how contingency planning is done is what this case is all about. The main focus of this case is understanding how network contingency planning is done and what parameters should be considered. How a dashboard can be developed that can be used as a base for taking strategic decisions related to networking given the uncertainties due to COVID. The case gives hands on to students to use solver and build a dash board, plus gives a peep into Godrej and its operations.

This study is suitable for students of undergraduate or first year MBA level. Specifically, the case can be used in business strategies, operations and supply chain management courses.

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CSS 9: Operations and Logistics.

The learning outcomes are as follows: Students/participants can understand the type of financial fraud pertaining to the case; Students/participants can analyse the case using the fraud triangle perspective; students/participants can describe detection/anticipation strategies to prevent such acts from taking place in the future; students/participants can evaluate the case using the ethical decision-making framework; and students/participants can comprehend the importance of financial literacy when investing, especially in this digital era.

This case discusses the investment funds mismanagement accusations addressed to PT Jouska Finansial Indonesia (Jouska). Jouska is a financial planner business that was immensely popular among Indonesian young investors. It actively posted interesting content on its social media accounts, gaining attention from the millennial and Gen Z generations. However, in 2020, many of its clients reported and filed complaints that their portfolio values decreased significantly because of Jouska’s decision to invest their funds in low-quality stocks. Jouska was also alleged to violate its role as a financial planner by being able to perform several activities that fell under the authority of investment managers. This case attracted the attention of authorities so that the Investment Alert Task Force (SWI) stopped Jouska’s operational activities and initiated an investigation into the case. SWI also blocked Jouska’s websites, applications and social media accounts, in cooperation with the Ministry of Communication and Information. Despite settlement agreements that Jouska claimed had been offered to several clients, at the end of 2020 some of its clients and former clients filed a formal lawsuit. As of January 2021, several alleged criminal actions attributed to Jouska were still under investigation, comprised of money laundering, clients’ funds embezzlement, fraud, and insider trading. In October 2021, Aakar’s status was a suspect in the allegations. This case is another example of investment misconduct or fraud; to put it another way, it is the effect. It is expected that the participants can deliberate other perspectives during the discussion that could be the cause of such a case, hence viewing it holistically.

Undergraduate level.

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CSS 1: Accounting and Finance.

The learning outcomes are as follows:• demonstrate an understanding of the fruit farming process;• compare the pros and cons of farming different fruits;• understand the general characteristics of entrepreneurs and identify the issues they face;• compare the risk and returns from two types of investments;• apply capital budgeting techniques to ascertain the best available investment option; and• perform sensitivity analysis based on different anticipated situations for a new business.

Since his birth, Mr Bashir Khan, a 45-year-old father of four, lived as a farmer in Kallar Kahar, Pakistan. He owned 15 acres of land which he used to cultivate wheat and millet. He decided to start fruit farming after harvesting wheat in April 2021 to satisfy his long-standing desire to own a garden. He recently met a friend who was earning well from grape farming, who suggested that Khan set up a vineyard farm which could become a profitable venture for him. At the same time, Khan learned that the government had declared the Potohar region of Pakistan an olive valley, and was giving massive subsidies on olive cultivation. Khan now had a choice of fruits to plant on his land. One of his relatives, Omar Khayam, was an accountant at a firm. Khayam offered to conduct a feasibility analysis for Khan, to provide the relevant data, and help Khan select a high profit-yielding fruit farm.

Introductory finance courses at the undergraduate and postgraduate levels as well as executive training courses focused on the agri-finance discipline.

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CSS 1: Accounting and Finance.

MBA/MS/Executive Training.

Business and society; sustainability; women business leaders.

This case is about the development of sustainable viticulture in Israel. Michal Akerman, a viticulturist and agronomist, implemented out-of-the box ideas at Tabor Winery, Israel, and was successful in developing organic and sustainable vineyard. However, she faced challenges in terms of improving the quality of grapes as she looked forward to growing some of the best quality French grapes in Israel in the challenging conditions of the Negev desert region.

The expected learning outcomes are: to analyze the environmental impact of viticulture and sustainable viticulture through Tabor’s example, to examine how leaders can drive businesses to be involved in sustainable practices and challenges involved in implementing sustainable practices and to develop a framework for female leaders working in male-dominated business environments.

This case captures Michal Akerman’s (Michal) endeavours to develop organic and sustainable viticulture at Israel-based Tabor Winery. The traditional practices followed to grow the vineyards were proving adverse to the biodiversity. Unsustainable practices wiped out rare plants, and micro-organisms, which were essential for cultivation of grapes. The imbalance and unnatural ecosystem ultimately posed a threat to the very sustenance of the vineyards. As a seasoned viticulturist, Michal was of the view that a stable, diverse and balanced ecosystem prevented diseases among plants, and improved the quality of grapes.

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CSS 4: Environmental Management.

The case would be relevant to undergraduate level or an introductory master's level course in operations management (OM), supply chain management and production.

The case can be used as part of a core OM course in the MBA curriculum or any OM or supply chain elective.

As a highly diversified manufacturing services company, Jabil's S&OP solution supports customers across many industries such as automotive, cloud computing, consumer packaging, healthcare, mobile, retail and telecommunications. Jabil's customers expect a rapid and accurate response to their demand within hours. Previously, Jabil used a series of legacy disconnected planning tools, unsynchronized data required time-consuming manipulation with Excel. Processes were conducted in siloes leading to a “load and chase” approach, which resulted in excess inventory, component shortages and inadequate capacity. The case focuses on one of the Jabil executives, Lizet Tymon (she). Struggling with the issues caused by the disconnected planning tools, Lizet champions implementing a fully integrated suite of services (built on top of the Kinaxis' RapidResponse software platform). The technology solution proposed by Lizet was ultimately implemented across the company, and the project received high marks, and it opened up career opportunities for her. However, it was not a smooth ride at the very beginning. The case focuses on the issues experienced by Lizet, as she is introducing a new technological solution approach and trying to earn support from her team, her peers, her immediate supervisor, her customers and her higher-level executives.

The teaching objectives include: understanding and appreciating the supply chain complexities experienced by a global contract manufacturer; helping students think critically regarding the issues around the sales and ops planning; identifying the data needs for the operation and management of a worldwide, connected supply chain; investigating agile solution approaches for information sharing, decision-making and decision-sharing; and exposing the challenges associated with a large-scale technology adaptation.

This case study describes the supply chain challenges experienced by a global manufacturing solutions provider and illustrates the technology adaptation led by a female executive.

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CSS 9: Operations and Logistics

Learning objectives are as follows: Analyze the reasons for the implementation of retrospective taxation by the Government of India; infer the dynamics of international tax laws and the settlement process of international taxation disputes; critically analyze the factors that led to the Indian Government’s decision to scrap the retrospective tax; and infer the relationship between a country’s taxation system and its potential to attract foreign direct investment.

This case is an analysis of the Indian Government’s decision to scrap the retrospective taxation amendment. The case discusses the underlying factors that led the incumbent government to take this sudden decision. The case discusses in detail the causes for the introduction of the retrospective taxation amendment and the tax terror unleashed by this draconian law. The case also discusses the embarrassment faced by the Indian Government because of a series of adverse decisions against it and in favor of Cairn Energy and Vodafone in the international courts. It also discusses the adverse effect on Indian banks in case of ailing telecom conglomerate Vodafone Idea Ltd failure.

The case is best suited for postgraduate and executive students studying Taxation subjects in Commerce and Business Management streams.

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CSS 1: Accounting and Finance.

The learning outcomes of this paper is as follows: to understand and analyze the turnaround model of Pearce and Robbins (1993); to familiarize with parameters and actions in the Prompt Corrective Action (PCA) framework of Reserve Bank of India (RBI); to comprehend the probable situation warranting turnaround; to identify the key ratios which signal the financial health of a bank; and to understand the applicability of the turnaround model in bank’s revival.

The case explores various challenges faced by Mr Prashant Kumar during the turnaround process of Yes bank. The youngest bank started its operation in 2004, and in the first six years of operations, Yes bank registered a compound annual growth rate of 100% on the balance sheet, becoming the fourth-largest private sector bank in the country. However, the irony is that this shine and glitter was a short-lived phenomenon and after the regulatory inspection of 2016, Yes bank collapsed like a house of cards. This case has incorporated the three major phases of Yes bank i.e. the rise, the fall and the revival. The turnaround process led by Mr Kumar was explained using the turnaround model given by Pearce and Robbins (1993) and the PCA framework of the RBI. The conditions which warranted the need for the turnaround in Yes bank and the factors responsible for the same are discussed. The multiple challenges faced by Mr Kumar and the strategic responses adopted by him were incorporated in great detail. What were the outcomes of those strategic choices? Should he continue with similar approaches? Was he successful in stabilizing the bank which was broken from the core? What next if stability is achieved? How Mr Kumar should lift Yes bank to the recovery zone? And most importantly, will Mr Kumar be able to change the poor public image of Yes bank? The reflections of all the above questions are narrated with the actions of Mr Kumar.

The case is intended to be taught in the class of strategic management for postgraduate-, master- or executive-level participants of business administration. As the case is focused on a banking organization, it also can be taught in banking class.

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CSS 1: Accounting and Finance.

This study will help students determine the economic value of a firm particularly in case of a small business. The crux of the case is to help students estimate an enterprise value for a company and figure the actual worth of the company to aid in decision-making.

This case is about a decision dilemma faced by Shashi Hegde, Director, Hycons Renewable Private Ltd, a company ventured into the production of Bio-CNG. It is about a recent proposal received by the firm from APL Ltd for equity investment with 40% stake in the firm. The case reflects the dilemma faced by small businesses to choose between investment or loss of control. Accepting the proposal will bring in additional funds, whereas the Board loss control on the firm. The case revolves around this dilemma. To help Hegde in this task, he seeks advice from his CFO and his confidant Kumar.

This case is most appropriate for a core finance class for both under-graduate and graduate programs.

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CSS 1: Accounting and Finance.

By reading and understanding this case study, students are expected to: 1.Able to understand and review the impact of unethical practices from accounting perspective; 2.Able to make an analysis of how one unethical act triggers a series of forced unethical acts (ripple effect); 3.Identify the unfair practices as well as be proactive in preventing unfair practices in the business day to day affairs; 4.Able to relate the function of various ratios (current ratio, quick ration, debt to asset ratio, debt to equity ratio etc.) and its impact on the business performance; and 5.Able to apply various lean quality tools, doing the root cause analysis in identifying and solving problems.

T.M. Exports (TME) was an India-based privately owned and operated enterprise. The company had a brilliant employee named Sanjay, who was a 12-year veteran. TME’s Business Intelligence (BI) department at TME head office, Kanpur, India, ostensibly learned on April 8, 2019, from the rumors about a brand-new vehicle dished out to Sanjay by his friend who made fortune worth of millions from certain transactions. To add fuel to the fire, another incident surfaced concerning a warehouse keeper, Mohit, who was also involved in embezzlement in one of the sales offices. On May 16, 2019, BI reported these two incidents to the internal auditor who launched an internal investigation to get to root of this case. Consequently, the company owner, Tariq Mahmood got himself caught up in a dilemma to fire both Sanjay and Mohit only or restructure the organization for better transparency and integrative approach in future. Moreover, the newly appointed Chief Executive Officer had the dilemma of keeping high safety stock to maximize service level or keeping conservative safety stock and rely on-spot market-buying if demand spiked. He decided and instructed all the warehouses to keep higher inventories to meet the forecasted demand, considering unexpected spikes in demand witnessed historically. Thus, increase in inventory caused panic in the sales department as demand was sluggish. He, therefore, offered high discounted prices to liquidate the stock. This study integrated the theories of accounting/financial ratio metrics, accounts reconciliation, business ethics and lean tools. It was demonstrated in this case that the irregularities in sales accounting and their inability of reconciliation had a serious impact on business performance. The concept of total reward was also invoked to understand the disruptive and unscrupulous practices.

This case has been particularly focused on undergraduate and postgraduate early-stage-level students pursuing business or commerce program, particularly those specializing in accounting (sales accounting) and human resource management courses.

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CSS 1: Accounting and Finance.

Need for preventive health care: To comprehend the contribution of preventive health care in improving the health quotient. Sri Sathya Sai Sanjeevani Hospital (SSSSH) and its initiative is an apt example of the wonder which preventive care can bring in the context of rural health. Community participation: The case can be instrumental in showing the pathway to encourage community involvement in mainstream health by promoting the holistic model of SSSSH that understands mothers and children's health profile and needs, especially in the unreached rural segments of an emerging economy like India. Importance of healthy childhood: World Health Organization (WHO) promotes the school health programme to prevent health risks among children by inculcating healthy behaviours during childhood. The successful SSSSH model proves that it is implementable by integrating comprehensive health education modules in the existing institutions for medical care.

The challenge of a healthy childhood is inadequate availability and accessibility of quality care. Non-awareness of the parents is also a significant reason for the children who miss the benefit of a happy childhood. While much is planned by the Government and some part of it being executed, this case highlights the effectiveness of the maternal and child health programme executed by the Sri Sathya Sai Sanjeevani Hospital (SSSSH). This initiative fulfills the dire need of ensuring the preventive healthcare component leading to safe motherhood and safe birth of healthy children. Further, the case is also the culmination of pin-pointed innovative awareness activities such as school health screening and the Divine Mother and Child Health Program (DMCHP). It opens up the discussion on the current model of health care followed by SSSSH, Raipur, and its impact in the local areas to decide on its expansion across the country for nationwide implementation.

Bachelors in Business Administration, MBA, Executive MBA, Post Graduate Diploma in Healthcare Management

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CSS 2: Built Environment.

This case study aims to be taught at an MBA level. Students who are majoring in the supply chain would benefit the most from this case study. This case study has elements of logistics management, supply chain management, supply chain strategies, warehouse and logistics and responsible supply chain. The learning outcome of this case study could be seen if the students identify the gaps in the real market setting and come up with strategies that would connect and/or fill the areas missing. Teaching objective 1: students should be able to identify unstable demand scenarios and learn how demand collaboration could be implemented in that setting. Teaching objective 2: students should identify how a transparent and interconnected supply chain, both upstream and downstream, can be created. Teaching objective 3: students should be able to understand the role of a responsible supply chain and to define the role and responsibility of each party. Teaching objective 4: students should be able to learn the dynamics of safety stocks, reorder points and incorporate that in warehouse management decisions.

Based in Lahore, Pakistan, Total Technologies (Pvt.) Ltd is a company that supplies medical equipment and provides solutions in the health-care industry. This case explores the supply chain issues faced by Tallat Mehmood, who is the Managing Director of the company, during the third wave of the COVID-19 pandemic in April 2021. Oxygen cylinders have become the need of the hour as more and more patients need oxygen. The supply of medical gases across Pakistan has become a logistical issue, causing hospital reserves to be drained without timely replenishment. Increasing the number of beds in hospitals, with limited oxygen outlets, has increased the demand for oxygen cylinders. Operating under unstable demand and not being able to meet it has caused Tallat to realize that the company is out of its comfort zone and is not responding well to the environment. The company needs to redesign the supply chain as well as collaborate with the supplier and buyer to provide better levels of service.

Masters level supply chain courses.

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CSS 9: Operations and logistics.

The case intends to achieve the following objectives with the audience: Apply the knowledge of fundamental analysis to select good companies for investment; analyse companies for investment through the contrarian strategy; and appreciate the need of own research before investing.

This case study provides an insight into the general process around investment for a retail investor. The protagonist of the case, Rajdeep Sharma, is a middle-class, salaried IT consultant from India. He has taken inspiration from Rakesh Jhunjhunwala, a renowned investor in India, and started his journey on the road to generate wealth. He decides to adopt the contrarian strategy and identifies Jaiprakash Associates Limited (JPA) to invest his savings. JPA is a large conglomerate with decades of experience, which has diversified business across multiple sectors. However, JPA’s pursuit of growth and expansion has created financial issues because of a large amount of debt it has amassed over the past few years. The company has been unable to repay its interest and principal obligations to the debt holders, making it consider a restructuring plan to meet these responsibilities. Meanwhile, Rajdeep has been optimistic about his investments but must experience excessive turmoil due to the high volatility in the company’s share prices. The case highlights the value of sound analysis, along with the impact of information on retail investors’ decision-making process. It will help prospective investors appreciate the importance of economic, sectoral and financial statement analysis before making any investments.

Fundamental analysis for MBA students majoring in Finance.

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CSS 1: Accounting and Finance.

After working through and discussing this case, learners should be able to:1. evaluate the financial condition of Ellerine Holdings Limited (EHL) at the time of the merger proposal and use it to make inferences about the company’s ability, at that time, to function effectively as a going concern;2. identify the conditions within EHL and in the operating environment that may have made it necessary for EHL to seek to change its business strategy;3. determine whether the acquisition price offered to EHL by African Bank Investments Limited (ABIL) was fair; and4. compute the value accretion/loss expected to be realised by the existing shareholders of ABIL and EHL under the merger proposal.

This case situates the directors of Ellerine Holdings, a furniture retail company that merged with African Bank Limited in 2007, reflecting on the events that led up to both entities being placed into business rescue in 2014 and asking whether the merger was the cause of the demise. If they had chosen an alternative partner, would the results have been different?

Masters Level students – MBA or Masters in Finance.

For instructors.The following material has been provided with the teaching note for instructors:- Teaching Note.- Johannesburg Stock Exchange News System (SENS) extract of related original filing.For students.The following supplementary material has been provided to accompany the case:- Financial information on the two companies (Excel spreadsheet).- Johannesburg SENS extract of related original filing.

CSS 1: Accounting and Finance.

Through this case, the students will be able: to study how developments in the external environment impact businesses, in general, and banking sector, in particular, banks/banking, environmental management, financing/borrowing, government, political business risk and politics; to identify the politico-legal constituents of the external environment which significantly influence businesses; and to analyse the pros and cons of loan-waivers as a policy decision on various stakeholders including banks, borrowers, governments as well as the larger society.

The case is symptomatic of the dilemmas faced by the Indian bank employees, in charge of loan-disbursals, torn between seemingly contradictory demands from their top management and the governments.

The case is meant to be used in the course on “Business Environment” both at the UG and PG levels. It can be used along with the module on “External Environment and its Constituents” to augment students’ understanding of the “Impact of Political Environment on Business.” The case can also enrich the class discussion on the PEST (politico-legal/economic/socio-cultural/technological) framework for analysing the forces in the external environment acting upon a business.

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CSS 4: Environmental Management.

This case study aims to be taught at an MBA level. Specifically, those students who are majoring in supply chain would benefit the most from this case study. This case study has elements of supply chain management, supply chain strategy, warehousing and logistics, and a digital supply chain for Industry 4.0. The learning outcome of this case study could be seen if the students are able to identify the challenges and opportunities of a digital supply chain for Industry 4.0 and how it could be implemented methodically. Teaching Objective 1: Students should be able to identify what challenges organizations face if they implement a digital supply chain for Industry 4.0. Teaching Objective 2: Students should be able to identify what opportunities can be tapped if Big Data Analytics are used in a supply chain teaching. Objective 3: Students should layout a methodical plan of how an analogue company can gradually achieve the objective of implementing a digital supply chain for Industry 4.0 in procurement function.

Based in the Lahore region of Pakistan, Xarasoft is a footwear manufacturing company which has undertaken a decision to transcend to a digital supply chain for Industry 4.0 by 2027. Asif, who is the Head of the Department of Supply Chain, has to come up with a plan to present in the next meeting with the CEO. Xarasoft is a company that preferred to work in an analogue routine. The company set production targets and sold goods through marketing. With no forecast or exact demand, the company had decided to procure 140 million units of raw material and carrying a huge inventory, a percentage of which had to be thrown away as it started to degrade. While the company did have machinery on the production floor, they were operated manually and were a generation behind. Asif faced the question of what challenges he would face and exactly how would a digital supply chain for Industry 4.0 be implemented in the company.

Masters level supply chain courses

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CSS 9: Operations and Logistics.

After studying this case, students must be able to explain the rationale for going public; identify the type of markets available for listing a company on Bursa Malaysia and explain the listing process; and analyse pre-IPO financial performance using trend analysis, comparative analysis and common-size analysis.

Uniutama Education and Consultancy Sdn. Bhd. (UECSB) in Universiti Utara Malaysia (UUM) was a company with strong financial performance and growth opportunities. In 2020, UECSB was planning for an initial public offering (IPO), whereby the company could offer shares to the public. This would allow UECSB to raise capital from public investors, and increase UECSB’s credibility and exposure. Therefore, Halim, who was the General Manager of UECSB, needed to decide whether or not UECSB should go for an IPO.

This case is more appropriate for final-year undergraduate students, particularly those majoring in Finance. This case is also suitable for postgraduate students, especially those enrolling in Master of Business Administration (MBA), Master of Business Management (MBM) and Doctor of Business Administration (DBA) programmes, and Executive Education programmes in Management.

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CSS 1: Accounting and Finance.

This study enables to critique the development of a sustainability strategy brand; integrated reports, sustainability reports, usage of safe internet and online learning skills to reduce inequalities and increase stakeholders’ values.

Digi Telecommunications (Digi) has been publishing annual sustainability reporting in line with Global Reporting Initiatives since 2009. Albern Murty, Chief Executive Officer (CEO) of Digi, the largest player in the mobile telecommunications industry in Malaysia by the number of subscribers, decided to establish a responsible business brand known as Yellow Heart in 2018 to better serve their stakeholders demand. There was a low stakeholder understanding of Digi’s sustainability efforts and societal impacts. Digi’s Sustainability department aspired to make Yellow Heart the best industry practice for continuous improvements by making Responsible Business commitment one of the main pillars of the company’s strategy and vision. Yellow Heart was linked to Sustainable Development Goals (SDG)10 on reducing inequalities by focusing on Digital Inclusion and Resilience to increase safe access opportunities, provide marginalized communities with opportunities to pursue interests in digital learning pathways and create a more sustainable digital future for all. The case study illustrates the sustainability management at Digi and the planned migration from sustainability reporting to integrated reporting to build trust in the business with all the stakeholders. The case dilemma involves the challenges that Philip Ling Oon Hun, the Head of the Sustainability, faced in deciding the SDGs to focus on and measuring and reporting their outcomes to contribute to the greater good, not only in pure business terms but also to society at large.

This case is appropriate for undergraduate or graduate-level programs in Accounting, Corporate Governance and Strategy Implementation.

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CSS 1: Accounting and Finance.

Familiarize with the retail operations of handicrafts, facility location problem, apply multi-criteria decision through the goal programming approach and solving the same with MS Excel.

The case portrays a dilemma in the context of retail operations of a small-scale handicraft company known as Odisha Craft. Located in Odisha, Susanta Mohanty, the owner, was finding it a challenge to decide on the most promising location for his new retail outlet in the neighbouring city of Kolkata. He had five choices for the locations. Odisha craft was established by his father-in-law in 2009 with an objective to preserve and promote the rich culture of the handicrafts designed by the local artisans and ensure sustainable rural livelihood. The company had been facing numerous challenges and the pandemic has given a very formidable blow to the monthly revenues. The case brings out the multi-faceted dilemma of deciding on the facility location in 2020, involving a set of conflicting criteria. The case unfolds a systematic solution approach resolving the dilemma using MS Excel.

Courses such as operations research, operations management, service operations and retail operations for MBA students and trainings for junior-middle level executives.

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CSS 09: Operations and Logistics

The primary teaching objective is to discuss the capital raising efforts of a firm under financial distress. It also provides supporting data to calculate cost of capital, DuPont/modified DuPont values and Altman’s Z-Score that can appropriately be incorporated into the discussion. Case-B provides information and data of the company’s recent performance and to changes in bankruptcy law in India. Overall, this case study provides ample scope to discuss, understand and provide the solution to the following key corporate finance themes as follows: 1. Analyzing accounting statements and examine potential earnings quality issue. 2. Predicting default and bankruptcy using qualitative analysis, financial ratios, traditional and modified DuPont models and Altman’s Z score model. 3. Examining the capital raising efforts of a distressed firm, which has already defaulted on borrowings. 4. To explore the impact of changes in regulation on the turnaround efforts of the firm as well as on the promoters of the firm.

Since 2005, Amtek Auto moved at a breathtaking speed with the goal of reaching $10bn in sales, from the current level of about $1.2bn. The group had acquired more than a dozen companies spending about Rs.5,000cr. ($850m) during this period primarily through borrowed funds. However, the market and business expansion was not happening as expected. The company’s capacity utilization was just about 40% (approx.) during much of this period. The mounting fixed costs of operation and debt servicing grew to the level of unsustainability, led the firm to default on its borrowing. Now the company had to quickly recapitalize itself to run its operations and retain the premier position in auto component industry. The company and its promoters were considering various methods of debt restructuring, asset sale and further equity infusion.

Introductory and elective level corporate finance.

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CSS 1: Accounting and Finance.

This case can be used to help students achieve the following objectives: To project financial statements and assemble different pieces of financial information to create a valuation model (objective #1, create), To calculate a value for Arcor shares, supporting the estimated value with the chosen assumptions and methodologies (objective #2, evaluate), To draw connections between four different approaches to valuation (DCF, EVA, RV and VI), contrasting them and weighting their advantages and limitations (objective #3, analyze), To examine the relationship between forecasted financial statements and valuation (objective #3, analyze), To discuss the calculation of the Weighted Average Cost of Capital in a new situation as is an emerging economy, with the corresponding country-risk adjustment (objective #4, apply), To discuss the sources of value creation in a family-owned private company in a developing economy (objective #4, apply), To understand the dilemma that the head of a company was facing, identifying the three possible financing alternatives discussed in the text as follows: corporate bonds, earnings reinvestment and an IPO (objective #5, understand). To recall basic facts, as the main character’s opinion on the direction of the local economy or the fact that Arcor already complies with the information requirements of a public company (objective #7, remember).

This case is based on the valuation of the world’s largest candy maker, Arcor S.A.I.C., originally a Latin American company, which remains a private family business. The key problem presented by the case is the use of different valuation approaches to price Arcor shares, in view of a possible Initial Public Offer. The case illustrates the application of four main valuation approaches as follows: Discounted Cash Flow (DCF), Economic Value Added (EVA), Relative Valuation (RV) and Value Investing (VI). Additionally, it includes a fundamental analysis of eight years of historical financial information and the preparation of forecasted financial statements. Set in a developing economy, the Arcor case introduces the complexities of calculating the cost of capital with the inclusion of country risk, as well as the financial analysis distortions caused by an environment of high inflation.

The Arcor case is appropriate to be used in graduate courses of Corporate Finance, Valuation or Private Equity.

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CSS 1: Accounting and Finance.

The teaching case is designed to be used by students in higher education institutions at the undergraduate level. This case may also be relevant for staff at the bursary departments of any public universities or public organizations that have biological assets.

This case provides a study on agricultural activity at Universiti Pengurusan Malaysia (UNIPM). The purpose of this case is to create greater awareness for case users on the accounting framework and on methods recommended for recording specific assets in agricultural activity, i.e., biological assets. This case provides users with experience in explaining the nature of an organization’s agricultural activities and accounting for biological assets as recommended in the Malaysian accounting framework. In addition, users are exposed to some current issues in accounting standards, such as ethical issues. In this case, Fakhrul, an accountant at UNIPM and a leader of the Asset Unit, was responsible for reporting the value of all UNIPM’s assets, including biological assets. He was instructed to accurately recognize, measure, and disclose the value of biological assets according to the appropriate accounting standard. Furthermore, UNIPM had been urged to replace the existing accounting standard of the Malaysian Private Entity Reporting Standard (MPERS) with the Malaysian Public Sector Accounting Standard (MPSAS). Fakhrul was considering how to account for and report biological assets according to the new MPSAS. This case is a decision making or ‘unfinished’ case which is suitable for financial accounting and reporting courses. The names of the people and the university are fictitious, but the details were based on actual events. A series of interviews were conducted with the key players to gather the data. Other useful documents such as the university’s annual report, university’s website and the deer reports were also referred.

The primary objective of this teaching case is to provide an opportunity for case users to understand both the accounting framework and the methods recommended for recording specific assets in agricultural activity. More specifically, the teaching objectives of this case are to achieve the following learning outcomes: to identify the relevant accounting standard for recognizing, measuring, reporting, and disclosing biological assets by public universities in Malaysia, to apply the appropriate accounting treatment in recognizing, measuring, reporting, and disclosing biological assets in accordance with the appropriate accounting standard for public universities in Malaysia and to understand the ethical issues involved in deer valuation methods.

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CSS 1: Accounting and finance.

Financial management – Specifically start-up valuations.

Honours or masters level (professional or academic).

The case is around a tech start-up in the informal transport market in South Africa, that has obtained some government funding and developed a working SaaS. However, requires funding to expand and grow. Informal transport is significant in emerging and developing markets and the product is portable internationally. In South Africa, two listed companies (US and SA) were started with similar concepts in Logistics and private client market and are now global in 124 and 24 countries. Management of the venture capital firm are senior and experienced and have invested years and funding into this company, and while willing to offer equity had quite a high value in mind, the venture capital company (with an impact mandate) needs to decide whether to fund the start-up and negotiate a value.

Characteristics of a successful start-up are formulating an appropriate discount rate, using real world data; performing a DCF and relative valuations given limited information; scenario analysis and sensitivity analysis; and the importance of negotiating (understanding managements side).

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This case was written for use in financial management classes in either an academic full-time student (final year undergraduate/bachelor) or a postgraduate program with working students/professional (MBA) program level.

CSS: 1: Accounting and finance.

The following subjects are addressed through the case: Integrated thinking; professional skills; ethics and values; sustainability; and responsible leadership.

This teaching case is aimed at Postgraduate accounting honours or masters students or MBA students.

The case begins on 16 May 2018, with Jason Roberts, Head of Environmental Programmes at World wide fund for nature (WWF), reflecting over bad news. The Department of Agriculture, Forestry and Fisheries (“DAFF”, also referred to as “government”), have just approved the 2017/2018 Total Allowable Catch (“TAC”) for the West Coast (WC) rock lobster at 1,924 tons, almost three times the amount recommended by the scientific community. The events describe a history of tension between the primary objectives of the WWF and the government; difficulties in stakeholder management, and the potential consequences for the survival of the WC rock lobster and those who depend on it for their livelihood. The different perspectives held by different stakeholders; the relevance of the scientific evidence; the legal provisions in place and the process applicable to making the TAC decision; all highlight the complex environment in which decisions were made; to which the WWF is wondering how to respond.

The case’s primary learning objective is to highlight the variety of considerations involved in complex decision-making, also known as “integrated thinking”. Students will be required to critically analyse and evaluate the information in the case, as well as the exhibits; to comment on the appropriateness of various decisions and recommendations; evaluate the ethical/moral responsibilities of WWF; understand different perspectives and the reasons for these perspectives; identify actions and statements that reflect responsible leadership, as well as those that reflect the contrary; and apply learnings from this case to personally reflect on one’s role as a responsible business leader.

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CSS 1: Accounting and Finance.

Mr Qazi was sitting in his office in the Multan branch, reviewing his past month’s key performance indicators when he got a call from his Town Operations Supervisor, Mr Ahmed, based in Bahawalpur. Ahmed was recently promoted and transferred to Bahawalpur, from Multan branch. He informed Qazi about the huge inventory variances, which were not earlier reported by the previous Town Operations Supervisor, Mr Sagheer. Qazi was informed that differences were around 2.37% of total sales vs the allowable company limit of Zero inventory variance. Qazi was worried about whether to report these differences to higher management or not. He was very well aware that reporting might even cost him his job, and that of Sagheer too. He could not see any solution to the recovery of the inventory or cash against the same. Should Qazi take a risk and let go of Sagheer? Should he report the differences?

1. Demonstrate the fraud and integrity-related issues. Why and how happened? 2. Analyzed the role of organizational policies in the decision of blow the whistle. 3. Identify the behaviors that helped a whistle-blower. 4. Assess the ethical dilemmas in which professional duties may conflict with personal ethics. 5. Propose organizational policies to encourage whistle-blowing and to discourage the fraud or integrity-related issues.

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CSS 9: Operations and logistics.

BBA.

Integrated Case Study, Advanced Management Accounting, Environmental Management Accounting (EMA), Human Resource Management.

This case is designed for undergraduate students in accounting, business or human resource management programmes.

The case is about Irfan, a former Production Manager in Omicron, a small and medium-sized enterprise in Selangor, Malaysia, manufacturing automotive metal parts. Irfan is truly enthusiastic for environmental and cost-reduction tools and wishes to pursue it further to his best possible. The case presents Irfan facing the dilemma of how to align his passion for these tools to his future career choice. He is faced with three options – to remain in Omicron, to accept a job offer in another company or to establish his own consultancy firm. The case highlights the heavy involvement of Irfan in the implementation of a new environmental tool, Material Flow Cost Accounting (MFCA) in Omicron, and all the tasks, activities, benefits and challenges encountered. Being at the ground with the implementation and outputs achieved, Irfan is excited about MFCA and wants to continue with it, due to the rich and valuable experience gained from its implementation and its potential for future savings. However, he does not seem to observe a similar excitement among the higher management. The case details an example of the implementation of MFCA for one of Omicron’s products and other relevant information that could serve as a guidance to any future implementation either in Omicron, the new company or even his own company. The case also provides details about Omicron and how Irfan regard Omicron as his second family to hint a strong pulling factor for Irfan to remain in Omicron, hence providing the extra weight on the dilemma he faces.

In the process of assessing a career choice dilemma for a middle-level manager, students are expected to analyse the three career options available to this middle manager, whose dilemma also relates to his passion of pursuing environment-related and cost-reduction tools. Where the environment is concerned, some parties need extra persuasion to pursue it and this also triggers the middle-manager’s dilemma. This case is intended to provide a tool to enable students to review and discuss matters, such as overcoming obstacles of pursuing environmental-related initiatives and progressing a mid-life career that provides self-fulfilment financially, emotionally and mentally. Among the theories and concepts referred include diffusion of innovations theory, EMA concepts and Hofstede’s cultural dimensions.

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CSS 1: Accounting and Finance.

Project Management, Entrepreneurship, Risk Management, Communication.

Study level: MBA and Executive Education.

Applicability: This case can be taught in the project management course. It will cover the project-planning phase, which is an iterative or progressive elaboration for the entire project lifecycle. The case will help in discussing how project management is an important discipline to manage projects and stakeholders effectively.

The case depicts the dilemma of a passionate entrepreneur who is setting up an ambitious dairy business but project execution goes awry. The case discusses the challenges related to project planning and execution.

It captures the essence of proactive risk management, measures that can mitigate risks and create opportunities. The case also discusses the entire project lifecycle from project initiation to closure and the challenges a manager has to face in terms of stakeholder engagement, risk management, stakeholder communication and scope change.

To understand the alignment of the project with the organisation strategy; to learn to create a project plan and monitor and control the scope, schedule, resources and costs; to accurately estimate project costs, timelines, and quality and schedule, using tools like MS Project; to learn the risk management techniques for managing projects, teams and stakeholders; and to manage stakeholder communication effectively.

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CSS 2: Built Environment.

After completion of the case, students will be able to understand the following: how to understand financial statements, income statements and cash-flow statements with the help of ratios; understand the concept of shareholding pattern along with different entities, namely, non-promoters, foreign institutional investor, domestic institutional investor and others; financial ratio analysis with traditional DuPont and extended DuPont analysis; understand the differences between comparable firms; how to analysis return, risk, covariance, correlation, market risk and capital assets pricing model (CAPM) and how to suggest an appropriate investment strategy.

The case presents company background and financial statements of four companies listed under departmental stores in India, namely, Vmart retail, V2 retail, Avenue Supermarts (known as DMart) and future retail. Students are asked to determine, which company is performing better to make a recommendation for investment. Students learn the tools of financial ratio i.e. profitability, efficiency, liquidity and market-based ratio along with the traditional DuPont decomposition and the extended DuPont analysis. Students also learn how to measure stock return, standard deviation, covariance, correlation, market risk and CAPM.

This case is suitable for management accounting, financial analysis and security analysis and portfolio management courses at the post-graduate or graduate levels. The case can be used in similar courses such as in financial statement analysis courses or security analysis and portfolio management courses.

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CSS: 1 Accounting and finance.

After completing this case, students should be able to: identify and compute relevant cash flows in relation to a real estate project and compute the net present value (NPV). Determine the target return or cost of capital (by looking at historical economic indicators). Design or formulate a sensitivity analysis to determine the drivers of the project value. Evaluate real estate and other investments taking qualitative and quantitative factors into consideration. Demonstrate the computation of a break-even rate to determine the minimum or maximum revenue or cost required for a project to be viable.

This case study is about the Golden Beak Securities Pension Fund that wanted to invest in a Hostel Project in one of the universities in Ghana. Most universities in Ghana faced an acute shortage of on-campus accommodation. Also, the Government of Ghana, in 2017, implemented a programme to make Senior High School in Ghana free. This was expected to increase the number of students who will enter the existing universities. The project was therefore seen as strategic, as it would help ease the pressure of on-campus accommodation while providing diversification for the pension fund. As part of the investment committee’s (IC) quest to improve the skill set available to it, especially in relation to real estate investments, Esi Abebrese was appointed as one of the members of the IC of GSB. Her main task was to collect information on key macroeconomic variables, as well as granular information on project costs and revenues and conduct investment appraisal. Esi was scheduled to make a presentation to the IC on the 15th of October 2019 following which the Committee will debate and make a decision. The project had an estimated cost of GH¢52m with a total number of 3,424 student beds and ancillary facilities. Undertaking the project required moving funds from investments in money market securities with one of the banks in Ghana. The investments in the money market securities were currently yielding about 16% a year. The determination of the cost of capital was critical and Esi and Nana eventually settled on a long-term weighted average cost of capital of 14%. This was after considering the trend of inflation, monetary policy rates, treasury rates, stock market returns and a report on returns on commercial real estate properties in Ghana. An exit capitalisation rate of 20% was also estimated for the purposes of determining the value of the property at the end of the investment horizon. Esi also obtained estimates of cost and revenue for the project and proceeded to carry out a feasibility analysis on the project. This consisted of an NPV analysis and sensitivity analysis on various factors to determine the drivers of the project value. The IC had to take several factors (both quantitative and qualitative) into consideration before making a decision. Esi believed that these factors included the diversification of the fund’s assets, the return on investment, potential oversupply of hostel accommodation, the social responsibility of providing student accommodation and the impact of any prolonged shutdown of the university.

Masters/advanced undergraduate.

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CSS 1: Accounting and Finance.

It enables students to understand and design a business model canvas, design standard operating procedure (SOP) for very unorganized business operations and also devise base pricing for vendor negotiation.

Mr Gaurav Chaudhary, chief executive officer and Founder of Pashushala.com, established a first-ever Livestock online marketplace in India, leveraging the penetration of internet users in 2019. Pashsuhala.com evolved as an all-inclusive ecosystem that offered an innovative business model by bundling financial aid, logistics, veterinary and insurance solutions to its buyers and sellers. While every other aspect seemed to have had fallen in place, Gaurav was not convinced with the everyday handling of the cattle especially during transportation. Transporting cattle was the most challenging task tempered with issues such as changing weather conditions, stock density, lack of training on handling cattle while loading and unloading, long journey hours, feeding and watering procedures and many more for which Gaurav had to depend on the logistics partners. Gaurav was in a dilemma whether to have his own fleet armed with trained personnel for transporting the cattle or to streamline the existing operating procedures into SOP to be followed by logistics partners. If he continued with logistics partners he also had to work on standard costs i.e. fixed and variable costs incurred during the transportation of livestock. The case deals with business concepts such as supply chain risk management in the livestock sector, SOPs for a very unstructured and unpredictable ecosystem, pricing strategies and business model canvas.

Masters in business administration (MBA) and Executive MBA level.

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CSS 9: Operations and Logistics.

After discussing this case, the authors expect that the students will have the following learnings: critically analyse the latest Reserve Bank of India (RBI) banking proposal, which was proposed by the Internal Working Group (IWG) in November 2020. Understand concepts such as connected lending, crony capitalism and financial crisis. Have a basic idea about the Banking Regulations Act, 1949 and regulatory framework in the Indian banking sector.

This case is an analysis of the recent RBI proposal on banking regulations in India. The authors have referred secondary data in terms of published papers by stalwarts and experts in the banking and economics field. This case analyses the pros and cons of the IWG proposal to RBI governing body. The case also touches upon interesting banking and macroeconomics concepts. What makes this case interesting is that RBI is open to receive comments from all the stakeholders till January 2021.

Applicable to undergraduate and postgraduate students studying banking and finance specialisation in commerce and business management streams.

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CSS 1: Accounting and Finance.

The case illustrates the application of the prospect theory to risk-seeking investor behavior. It also provides an example that standard valuation methods such as discount cash flow), discount divided model and price multiples are not always applicable to value a stock. The students are exposed to a real situation where investors turn risk-seeking. The case offers insights into why irrational investors are attracted to risky assets and their probable socio-demographics.

This case illustrates a case when investors become risk-seeking and how the prospect theory explains the investors’ risk appetite. Energy Earth PCL is a coal importer and distributor incorporated in Thailand. Its shares had been suspended for trading before the Stock Exchange of Thailand allowed temporary trading in July 2019. A series of unfavorable events leading up to the temporary trading period suggest that the company’s financial health was severely distressed. Its book value was presumably negative and its going concern was threatened. However, investors still bought the shares with the hope of hitting the jackpot. The case presents an example of the psychological aspects of humans when investing in a stock market. With an application of the prospect theory, irrational risk-seeking behavior explains the motivation to invest in risky stocks.

Introductory finance course.

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CSS: 1 Accounting and Finance.

The learning outcomes of this paper are as follows: to understand the context of seaport logistics and supply chain design structure, to apply Monte Carlo simulation in the interface of the supply chain and to analyze the Monte Carlo simulation algorithm and statistical techniques for identifying the key seaport logistics factors.

It was 9:00 p.m. on November 10, 2020, and Nishadh Amonkar, the CEO of OCTO supply chain management (SCM) was glued to the television watching the final cricket match of the Indian Premier League, 2020. Amonkar’s mobile phone rang and it was a call from Vinod Nair, a member Logistics Panel of Ranji Industries Federation. Nair informed Amonkar that it was related to the rejection of several export consignments of agricultural products from Ranji (in the western part of India). The rejection was due to the deterioration in the quality of the exported agricultural products during transit from Ranji to various locations in Europe.

This course is suitable at the MBA level for the following courses: Operations research (Focus/Session: Applications on Monte Carlo Simulation). SCM (Focus/Session: Global SCM, Logistics Planning, Distribution Network). Logistics management (Focus/Session: Transportation Planning). Business statistics (Focus/Session: Application of Hypothesis Testing).

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CSS 9: Operations and logistics.

The case explores Ayesha’s reasoning, who is also a financial expert, regarding how she approaches the question of Riba (interest) so that she can maximize her financial returns and remain true to her religious identity. The discussion in the case revolves around alternate rationalizations as to why Riba (interest) continues to remain important for many Islamic investors.

Historically, the prohibition of Riba (interest) prevented the exploitation of the poor borrower who was charged exorbitant interest rates by wealthy lenders. In the modern day, a banking system which operates in a regulated setup and charges market-based interest rates, the rationale regarding the exploitation of the poor seems less compelling. Furthermore, other economic realities such as inflation and currency fluctuations further lend support to protecting one’s investments through prudent financial decisions. In this case the authors approach this decision regarding the prohibition of Riba (interest) in Islam from the point of view of the protagonist, Ayesha Bhatti, who is religiously conscious and is faced with certain personal investment choices.

The case focuses on one of the core issues of Islamic finance (IF), that of the prohibition of charging Riba (interest) on debt and the reasons behind this ruling. The relevance of this prohibition to modern day financial markets is essential to understand IF.

Teaching notes are available for educators only.

CSS 1: Accounting and Finance.