Case studies

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

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

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

Teaching notes are available for educators only.

CSS 8: Marketing.

This case study offers the following learning opportunities for students: to identify and assess how a management team can establish effective working relationships to build a cohesive team during times of severe crisis and to prepare business for the restoration period; and to find alternative ways aimed at restoring the company’s operations and suggest ways of adapting to the new, normal situation.

This case study examines the strategic decisions of IT-Integrator, a Ukrainian IT company, during the Russian invasion of Ukraine in 2022. It highlights the leadership of vice president Nadiia Omelchenko in navigating the crisis, focusing on initial chaos, the development of a business continuity plan and efforts to restore operations and ensure employee safety. Despite warnings, the outbreak of war on February 24, 2022, was unexpected, with no established emergency protocols. Companies independently decided on measures for safety and business continuity, especially those critical to infrastructure and banking. In 2021, IT-Integrator faced reluctance within its executive team regarding resource allocation for wartime scenarios. Omelchenko’s push for a comprehensive business continuity plan proved crucial. Despite the plan’s effectiveness, unpreparedness for the crisis’s scale hindered recovery efforts. During the early days of the invasion, Omelchenko managed the dual challenge of safeguarding the business and its employees amid uncertainty and workforce reduction. Each decision had significant implications, requiring a balance between immediate survival and future stability. The case of IT-Integrator underscores the importance of proactive crisis management, strategic planning and resilient leadership. Omelchenko’s experience offers valuable lessons for businesses facing similar crises, emphasizing preparedness, adaptability and a focus on both immediate and long-term recovery.

This case study is suitable for MBA and executive development programs.

Teaching notes are available for educators only.

CSS 6: human resource management.

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

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

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

Teaching notes are available for educators only.

CSS 1: Accounting and finance.

This case study draws on secondary sources as well as my personal experience and industry contacts within the cement sector during my time teaching in Spain, a country where the cement industry plays a significant role in the economy. I have also benefited from conversations with my colleague, Arnaud Blandin, an ESG expert with a deep understanding of the sustainability challenges facing the cement industry, particularly in Asia, where he lived for several years. His contribution is acknowledged in the disclaimer below the title.

This case study explores how Holcim, the global leader of the cement industry addresses the sustainability imperatives through a set of structured initiatives and policies. The case focuses on the challenges faced by Holcim at a time when the imperatives of climate change, resource scarcity and stakeholder expectations converged to reshape the very foundations of its business strategy, compelling the firm to reimagine its operations through a lens of environmental, social and governance principles. The case starts with a brief description of the industry of cement, which is, at the same time, one of the most consumed products globally but also a major contributor to global carbon dioxide emissions and then to global warming. Next, the case briefly introduces Holcim and its major competitors. Then, the case presents the major environmental challenges for the cement industry as well as the possible solutions with operational advances, innovation and collaboration within actors. Finally, the case details the ESG strategy of Holcim in 2023 with a first evaluation of its results.

This case study has been written for Master of Business Administration and Master of Science students. The case can be used in multiple courses, including Corporate Strategy, Business and Society, Ethics and Sustainability, Corporate Social Responsibility and General Management Implementation.

Information from secondary sources was used to develop this case study. The sources of the data included the organization’s website, yearly reports, news releases, reports that have been published and documents that are accessible online.

As of 2023, Kenya generated around 0.5–1.3 million tons of plastic waste per year, of which only 8% was recycled. The remaining waste was either dumped into landfills, burned or released back into the environment. In addition to the plastic problem, a deforestation crisis was looming large in the country. Despite the country’s efforts to improve recycling, banning the use of single-use plastic to reduce plastic pollution, plastic waste continued to be a major issue. Growing up in the Kaptembwa slums of rural Kenya, Lorna saw the adverse impact that plastic waste had on the local ecosystem. Also, she was perturbed by the widespread cutting down of trees for construction of buildings, etc., which had resulted in deforestation. Lorna’s concern for the environment and her desire to address these issues motivated her to found EcoPost, a business that promoted a circular economy by gathering and recycling plastic waste.

With the common goal of enhancing circularity, EcoPost and Austria-based chemical company Borealis collaborated to stop waste from seeping into the environment and to make a positive socioeconomic and environmental impact. The funding from Borealis would help EcoPost in increasing its capabilities, providing training and recruiting more waste collectors. The funds were also supposed to help formalize the work of the waste pickers (mostly youth and women from marginalized communities) by financing the entrepreneurial start-up kits. Lorna aimed to create a business model that would not only solve the plastic waste problem but would also contribute to the social and economic development of local communities. Amidst these gigantic problems of plastic waste and deforestation that Kenya was facing, how will Lorna achieve her ambitious goal of reducing plastic waste and save trees? How will EcoPost pave the way to a cleaner, healthier and more sustainable future?

This case is intended for use in MBA, post-graduate/executive level programs as part of entrepreneurship and sustainability courses.

Data for this case was collected through multiple interviews with the founder, staff and customers of Miss Rizos. In total, about 10 h of interviews were recorded and transcribed. To write the case, the authors visited the firm’s premises in Santo Domingo. Furthermore, observations, participation as clients and informal interactions also resulted in additional data and evidence that supported the case. In addition, the authors consulted corporate documents and archival data, as well as secondary sources, such as internet news, blogs, YouTube and other social media.

In 2011 Carolina Contreras opened a beauty salon (“Miss Rizos”) located in the heart of Santo Domingo, on the same street where slaves were once sold. The “unapologetic” powerful aim of the salon was to empower Afro-descendant, Afro-Latino, Afro-Dominican women, helping them revitalize their image and feel proud of their coils, curls and waves – and ultimately, of their identity. By the end of 2019, Carolina established a second hair salon in New York City. The case dilemma takes place in the summer of 2023. It involves choices the firm faces regarding the enhancement of its “activist” spirit, the adequacy of its organization and, more urgently, regarding its viability and possible growth/“scaling-up”.

This case is useful in undergraduate courses for teaching issues on social entrepreneurship, race and responsible leadership.

The case is primarily based on publicly available data, which includes the company website, industry reports and articles published in various media sources, as well as video-recorded interviews with the company representatives. Some factual data is fetched from or triangulated with public and licensed databases such as Statista, Crunchbase and PitchBook.

In November 2021, six years after its establishment, a Finnish food delivery platform startup, Wolt Enterprise Oy, was acquired by San Francisco-based technology company Doordash, Inc., in a staggering all-stock transaction of approximately US$8.1bn (EUR 7bn). This case invites students to analyze the international growth of a startup from its establishment toward becoming a unicorn amidst an ongoing pandemic and further toward a top-level exit deal and continuation as a subsidiary of a publicly listed multinational company. The case provides an overview of the food delivery industry and its key players and examines the challenges and opportunities faced by Wolt as it expanded to different regions, including Europe, Asia and the Middle East. The case provides a comprehensive and nuanced perspective on the strategic decisions and trade-offs that entrepreneurs face in the rapidly evolving food delivery market. By the end of this case study, students will learn about internationalization challenges and opportunities in the food delivery industry, how to navigate external shocks like COVID-19, analyze the competitiveness of a born-global startup in a competitive delivery business and evaluate the pros and cons of an acquisition deal for future international growth.

The case is designed for use in graduate courses in international business and entrepreneurship, such as internationalization of the firm and global marketing, strategies of business growth and international business strategy. A more diverse student body will be beneficial in uncovering different views on country differences, including various competitive, technological and regulative landscapes.

It provides insights into the challenges digital platforms like Wolt face when expanding globally. Students can apply theories such as the Uppsala model and platform economics while exploring how network effects and first-mover advantages influence Wolt’s competitive edge. The case also highlights localization strategies for global marketing and serves as a basis for examining valuation and integration in mergers and acquisitions. Overall, it helps students understand the unique dynamics and growth strategies in digital platform businesses worldwide. This case was classroom tested in the Internationalization of Firm and Global Marketing course for first-year master’s students of the International Business and Entrepreneurship program of LUT University Business School, Finland, during the years 2020–2023. Prior to this course, the students completed the Global Business Environment course, where they learned how to analyze forces in the external environment for further development of firm-level internationalization strategies.

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

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

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

Teaching notes are available for educators only.

CSS 1: Accounting and Finance.

By the end of this case study analysis, students are expected to understand the dynamics of global markets by identifying institutional voids in prospective export destinations using the framework by Khanna and Palepu; evaluate potential export destinations for Nablus Soap Company (NSC), taking into account the identified institutional voids and their implications for market entry.

Formulate strategies for NSC to address institutional voids and manage exports effectively to the selected country.

Assess various global expansion strategies beyond exporting for NSC, examining their respective advantages, disadvantages, and feasibility within the context of the company’s goals.

Analyze the factors that contributed to NSC’s successful expansion into 72 countries, despite the longstanding challenges faced by Palestinians since 1948, including the recent impact of the 2023 situation in Gaza on the West Bank.

This case study provides students with an in-depth understanding of the Palestinian economy, focusing on the NSC, a small and medium enterprise in the olive soap industry. Founded by Mojtaba Tbeleh in 1971, NSC’s legacy spans 400 years. It is known for crafting handmade, 100% natural soap with olive oil as a key ingredient. As of November 2023, NSC has successfully expanded its exports to more than 72 countries. Despite this achievement, the company faces significant challenges due to various restrictions, particularly those imposed by occupying forces. The case study provides insights into NSC’s international expansion challenges, guiding students in understanding how institutional voids in potential expansion destinations impact market entry decisions. It encourages them to identify these voids select appropriate markets and formulate strategies to leverage NSC’s global expansion potential.

This case study is suitable for undergraduate- or postgraduate-level students.

Teaching notes are available for educators only.

CSS 5: International business.

The authors gathered the core information for this case using publicly available filings from the US Department of Justice and the US Securities and Exchange Commission. Publicly available news articles were used to complement the core information. All sources are cited.

This case involves an assumed fraud perpetrated by the C-suite members of Celadon Group, Inc. – formerly one of the largest trucking companies in North America. By 2016, the value of Celadon’s truck inventory significantly decreased in value. Instead of reducing the inventory to its market value on the Balance Sheet, management engaged in a series of trades and creative accounting to conceal the fact they had overvalued the trucks.

Investment analysts at Prescience Point Capital Management and Jay Yoon (both published on Seeking Alpha) found inconsistencies and red flags in Celadon’s 2016 and 2017 financial reports and reported their suspicions to the public. Soon after, Celadon’s audit committee declared the company’s recent financial statements could no longer be relied upon, resulting in an immediate market loss of $62.3m. In 2019, Celadon entered into a Deferred Prosecution Agreement and was ordered to pay $42.2m in restitution. The Department of Justice (DOJ) criminally charged Danny Williams (president of Quality, a Celadon subsidiary) and he entered a plea agreement. The DOJ also criminally charged Bobby Lee Peavler (CFO) and William Eric Meek (COO). Celadon filed for bankruptcy and operations ceased. Then, in an unexpected turn of events, in 2022, the DOJ dismissed the criminal case against Peavler and Meek.

This case allows students to apply theory learned in a fraud examination or forensic accounting course to an actual fraud case. It discusses red flags and how perpetrators of fraud often need to keep perpetrating wrongdoing to keep the original fraud from being discovered. The authors designed the case for upper-level or graduate business students. It should be included in the course when covering financial statement fraud.