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

Equipe de France de natation: la conquête des sommets

T. PARIS

2016

L’équipe de France de natation rentre des Jeux olympiques d’Atlanta avec ce bilan sans ambiguïté : trois participations aux finales individuelles, aucune médaille, pour une délégation de vingt-quatre nageurs. La France est une nation de second rang en natation.
Seize ans plus tard, l’équipe de France rentre des Jeux de Londres, en 2012, avec 7 médailles dont 4 en or, ce qui lui permet de figurer en 3ème position au classement mondial des médailles, derrières les États-Unis et la Chine, et ce, après en avoir remporté 10 aux Championnats du monde de Shanghai l’année précédente. En l’espace de quelques années, la France de la natation est passée de l’antichambre au podium mondial. Coup de chance ? Génération spontanée de nageurs talentueux ?
Au contraire, le cas, qui s'appuie sur des entretiens avec l'ensemble des acteurs (nageurs, entraîneurs, fédération) impliqués dans cette période, montre que cette métamorphose est le résultat d’une action de management, c’est-à-dire la conséquence d’actions structurantes, conduites à différents niveaux, celui de l’entraînement, celui des clubs, celui de la Fédération nationale, pour faire basculer la natation française dans une culture de la victoire.
Mots-clés : Performance, sport de haut niveau, management des talents, gestion du changement

How a feminist activist group builds its repertoire of actions: a case study

F. HILDWEIN

2016

This chapter analyses the tactical repertoire of a French feminist group focusing on the absence of women in high positions in organisations and in positions of power. The article presents an example of a CSO actively promoting the emancipation of women and introducing new theoretical perspectives, by questioning French feminism. Theoretical and ideological resources can provide a good starting point for the struggle for women’s emancipation, enabling women to create new tactical repertoires to voice their claims and reveal patterns of domination. The analysis presented here describes the strategy of an activist group attempting to trigger change in organisations and in management practices and demonstrates how a social movement is influenced by its theoretical inspirations. The chapter concludes that research into the tactical repertoires of social movements should pay more attention to the theoretical inspirations that motivate activist groups and to the innovations conducted by activists in renewing their repertoire

Mots clés : social movements, tactical repertoire, feminism, activist groups, women, emancipation

L’Oréal: Attracting the Next Billion Consumers

P. DUSSAUGE, N. LUGAGNE

2016

Prada’s Hong Kong IPO

D. GROMB, Alberta DI GIULI

2016

In March 2011, Prada is preparing an IPO, set for June in Hong Kong. A team at one of its underwriters, Crédit Agricole’s CLSA unit, is setting a preliminary price range, structuring the offering and preparing the IPO process.

Mots clés : Prada, Initial public offering, IPO, Hong Kong, China

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


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