Cas pédagogiques

Bain Capital’s “Take Private” of China Fire

D. GROMB, M. KITTEN

2016

The case centers on the 2011 buyout of China Fire, a NASDAQ-listed Chinese fire protection firm. The MBO, backed by private equity firm Bain Capital, comes amid a wave of "take China privates" aimed at exploiting valuations depressed by fraud scandals at some U.S.-listed Chinese firms. In response to the $9 cash bid, China Fire's board has formed a Special Committee to negotiate terms. As the committee's financial advisor, Barclays Capital must conduct financial due diligence, including the valuing of China Fire with various methods.

Mots clés : Company valuation, buyout, reverse merger, China

L’Oréal: Attracting the Next Billion Consumers

P. DUSSAUGE, N. LUGAGNE

2016

African Solar Rise: Electrifying Rural Tanzania

S. AFLAKI, A. MASINI

2014

The case is about a German NGO that provides solar energy solutions in Tanzania and faces several challenges in order to scale its organization to generate much-needed revenue.

It examined the NGO, African Solar Rise (ASR), as it worked to improve its supply chain operations and last-mile distribution challenges while raising necessary capital to put it on more solid footing

Mots clés : Accounting/Finance; Base of the Pyramid; Economics; Emerging and Developing Economies; Emerging Markets; Entrepreneurship & Innovation; Frontier Markets; International Business; Marketing/Sales; Operations Management/Supply Chain; Social Enterprise (Social Entrepreneurship); Social Impact; Strategy & Management; Sustainability

After the Spin-off from Accor: Creating a New Strategy for Edenred

P. DUSSAUGE, F. LEROY

2014

The case describes the process through which the “prepaid services” division of the Accor hotel group was spun off in 2010 as Edenred, an independent publicly traded company. It goes on to explain what prepaid services are and to describe the prepaid services industry, before focusing on Edenred itself. Finally, it points out changes occurring in and around the industry that might undermine the future profitability of the industry as a whole and of Edenred in particular. Students are asked to suggest possible strategies for the future in order to maintain the abnormally high profitability Edenred has enjoyed for many years.

Mots clés : Business strategy; Two-sided markets; Network externalities; Unusual business models; Government support; Tax incentives; Spin-offs; De-mergers; Digitalisation

Après la scission du Groupe Accor : Une nouvelle stratégie pour Edenred

P. DUSSAUGE, F. LEROY

2014

Le cas Edenred décrit le processus qui a conduit à la scission entre la branche Hôtellerie d'Accor et Accor Services (la division des titres de services prépayés). Ce spin-off a eu lieu en 2010 et a donné naissance à Edenred, une entreprise indépendante et cotée en bourse.
Le cas décrit ce que sont les titres de services prépayés, présente les principales caractéristiques de cette industrie puis se focalise plus particulièrement sur Edenred. Après avoir décrit la nouvelle entreprise et ses activités, le cas analyse les changements en cours dans le secteur. Ces changements pourraient modifier les relations entre les acteurs et éventuellement altérer le business model, la position stratégique et la profitabilité d'Edenred.
Les étudiants et participants doivent envisager diverses options stratégiques et choisir celles qui leur paraissent les plus pertinentes pour qu'Edenred continue à dégager une bonne rentabilité comme cela a été le cas pendant des années et conserve un cours de l'action suffisamment attractif pour les marchés financiers.

Mots clés : Stratégie d'entreprise, marchés à double face, externalités de réseau, modèles économiques alternatifs, soutien gouvernemental, avantages fiscaux, spin, off, scission, digitalisation.

Freedom for Noses!

T. PARIS, G. LANG

2014

The case is about an SME in the luxury perfume sector.
Its founder, an insider in the sector, created it after seeing that the sector was finding it increasingly difficult to offer atypical and original designer perfumes, and that a certain number of consumers were growing frustrated. This observation led him to create his own company and devise a different business model.
The case comprises two parts, which can be addressed successively or separately. The first part leads students to carefully analyze the perfumery sector and the causes of these problems, and then to identify business opportunities to offer a range of products that guarantees a high level of creativity. The second part describes the business model of the company, its operation, positioning and offer and raises the issues of business development.

Mots clés : Perfume Industry, Luxury, Business Model, Business Development, Innovation

Glass Hostaria – Restaurant Innovation in the Heart of Trastevere

S. SALVEMINI, G. CINQUE, P. V. MANNUCCI

2014

This case study is about strategic growth in a creative industry. It presents the steps undertaken by a highly symbolic organisation in order to acquire and maintain a distinctive position in a very competitive environment. Moreover, the case discusses the organisational structure and culture that help in fostering innovation and quality, and offer an interesting example of women’s entrepreneurship. Glass Hostaria is a Michelin-starred restaurant based in Trastevere, a neighborhood in Rome renowned for its stereotypical and fake traditional trattorias. In a relatively short period, Glass succeeded in creating for itself a distinctive position and image. This was achieved thanks to its unique mix of innovation, tradition and managerial practices. The continuous growth in quality and popularity led Glass to gain a Michelin star, a result that was hoped but unexpected. This accomplishment brought Glass management and staff to face a series of radical strategic choices for the future. The case highlights Glass key success factors by presenting the restaurant philosophy, its managerial practices and organisational structure.

Mots clés : Entrepreneurship; Women's entrepreneurship; Food and beverage; Restaurant business; Management; Strategy; Enogastronomy; Michelin-starred restaurants; Creative industry; Innovation

Liberté pour les nez!

T. PARIS, G. LANG

2014

Le cas porte sur une PME du secteur de la parfumerie de luxe. Son fondateur, un insider du secteur, l'a créée après avoir constaté une difficulté croissante du secteur à proposer des parfums de création atypiques et originaux, et une frustration pour un certain nombre de consommateurs. Ce constat l'a amené à créer sa propre entreprise en pensant un business model différent.
Le cas présente deux parties, qui peuvent faire l'objet de traitements successifs ou séparés. La première place les étudiants dans la situation de l'entrepreneur confronté au constat de dysfonctionnements. Elle les conduit dans un premier temps à analyser finement le secteur de la parfumerie et les causes de ces dysfonctionnements, dans un second temps à identifier les opportunités entrepreneuriales pour proposer une offre de produits qui garantisse un niveau élevé de créativité. La seconde partie porte sur le développement de l'entreprise.

Mots clés : Parfumerie , Luxe , Business Model , Business Development , Innovation

Competing Through Alliances in the Airline Industry: The Air France-KLM / Delta Air Lines Joint Venture

P. DUSSAUGE, U. WASSMER

2013

Air France KLM and Delta Airlines formed a revenue and cost sharing Joint Venture that includes all transatlantic routes of the two airlines. In 2011, this joint venture generated sales of over € 12 billion. The case describes the airline industry, focusing in particular on the fact that airlines have formed alliances and joint ventures on a scale unheard of in other industries. It then presents Air France KLM and Delta, the partner firms, and provides a detailed description of their joint venture, its organization, structure and operations. It also mentions tensions that have arisen between the partners over time.
Participants are asked to analyze the data in the case from the point of view of the Air France KLM management, analyze what the JV contributes to Air France KLM, identify sources of conflict and potential threats and finally suggest changes to the JV agreement that can resolve these issues.

Mots clés : Business strategy, Industry analysis, Strategic alliance, Joint venture, Airline industry

Sales Disease at Hadaara Technology

D. ROUZIES, S. NERI

2013

This case study deals with a company-wide transformation: from a telecom commodity player into an ICT service company in Europe. The reorganization of the sales force is especially addressed as well as the key account management structure.
The case offers insights into the evolution of a global industry and the consequences on its players, particularly focusing on sales strategy, sales management and sales competencies. The core issues are the sales structure and the missing sales competencies. The case also offers the opportunity to reflect on the role of politics in corporate life and how often they get in the way of sound and fact-based decision-making, particularly in sales management.
The case is very useful also for leading a discussion on Key Account Management ("KAM") and its purpose and role within a sales strategy. In parallel it provides a context for developing a good understanding of sales competencies needed in KAM for complex business-2-business ("B2B") solution selling. It illustrates the importance of competency assessment as a base for sales force development and as a core part in building a sale structure.
On a corporate strategy level, it poses students questions about the possible organizational structures of an international sales division and its effects on customer perception, sales motivation and compensation as well as brand awareness.

Mots clés : Information and communications technology sector, B2B sales force, KAM organizational structure, KAM competencies


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