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HBS Case Selections

a case study in strategic management

OpenAI: Idealism Meets Capitalism

  • Shikhar Ghosh
  • Shweta Bagai

Generative AI and the Future of Work

  • Christopher Stanton
  • Matt Higgins

Copilot(s): Generative AI at Microsoft and GitHub

  • Frank Nagle
  • Shane Greenstein
  • Maria P. Roche
  • Nataliya Langburd Wright
  • Sarah Mehta

Innovation at Moog Inc.

  • Brian J. Hall
  • Ashley V. Whillans
  • Davis Heniford
  • Dominika Randle
  • Caroline Witten

Innovation at Google Ads: The Sales Acceleration and Innovation Labs (SAIL) (A)

  • Linda A. Hill
  • Emily Tedards

Juan Valdez: Innovation in Caffeination

  • Michael I. Norton
  • Jeremy Dann

UGG Steps into the Metaverse

  • Shunyuan Zhang
  • Sharon Joseph
  • Sunil Gupta
  • Julia Kelley

Metaverse Wars

  • David B. Yoffie

Roblox: Virtual Commerce in the Metaverse

  • Ayelet Israeli
  • Nicole Tempest Keller

Timnit Gebru: "SILENCED No More" on AI Bias and The Harms of Large Language Models

  • Tsedal Neeley
  • Stefani Ruper

Hugging Face: Serving AI on a Platform

  • Kerry Herman
  • Sarah Gulick

SmartOne: Building an AI Data Business

  • Karim R. Lakhani
  • Pippa Tubman Armerding
  • Gamze Yucaoglu
  • Fares Khrais

Honeywell and the Great Recession (A)

  • Sandra J. Sucher
  • Susan Winterberg

Target: Responding to the Recession

  • Ranjay Gulati
  • Catherine Ross
  • Richard S. Ruback
  • Royce Yudkoff

Hometown Foods: Changing Price Amid Inflation

  • Julian De Freitas
  • Jeremy Yang
  • Das Narayandas

Elon Musk's Big Bets

  • Eric Baldwin

Elon Musk: Balancing Purpose and Risk

Tesla's ceo compensation plan.

  • Krishna G. Palepu
  • John R. Wells
  • Gabriel Ellsworth

China Rapid Finance: The Collapse of China's P2P Lending Industry

  • William C. Kirby
  • Bonnie Yining Cao
  • John P. McHugh

Forbidden City: Launching a Craft Beer in China

  • Christopher A. Bartlett
  • Carole Carlson

Booking.com

  • Stefan Thomke
  • Daniela Beyersdorfer

Innovation at Uber: The Launch of Express POOL

  • Chiara Farronato
  • Alan MacCormack

Racial Discrimination on Airbnb (A)

  • Michael Luca
  • Scott Stern
  • Hyunjin Kim

Unilever's Response to the Future of Work

  • William R. Kerr
  • Emilie Billaud
  • Mette Fuglsang Hjortshoej

AT&T, Retraining, and the Workforce of Tomorrow

  • Joseph B. Fuller
  • Carl Kreitzberg

Leading Change in Talent at L'Oreal

  • Lakshmi Ramarajan
  • Vincent Dessain
  • Emer Moloney
  • William W. George
  • Andrew N. McLean

Eve Hall: The African American Investment Fund in Milwaukee

  • Steven S. Rogers
  • Alterrell Mills

United Housing - Otis Gates

  • Mercer Cook

The Home Depot: Leadership in Crisis Management

  • Herman B. Leonard
  • Marc J. Epstein
  • Melissa Tritter

The Great East Japan Earthquake (B): Fast Retailing Group's Response

  • Hirotaka Takeuchi
  • Kenichi Nonomura
  • Dena Neuenschwander
  • Meghan Ricci
  • Kate Schoch
  • Sergey Vartanov

Insurer of Last Resort?: The Federal Financial Response to September 11

  • David A. Moss
  • Sarah Brennan

Under Armour

  • Rory McDonald
  • Clayton M. Christensen
  • Daniel West
  • Jonathan E. Palmer
  • Tonia Junker

Hunley, Inc.: Casting for Growth

  • John A. Quelch
  • James T. Kindley

Bitfury: Blockchain for Government

  • Mitchell B. Weiss
  • Elena Corsi

Deutsche Bank: Pursuing Blockchain Opportunities (A)

  • Lynda M. Applegate
  • Christoph Muller-Bloch

Maersk: Betting on Blockchain

  • Scott Johnson

Yum! Brands

  • Jordan Siegel
  • Christopher Poliquin

Bharti Airtel in Africa

  • Tanya Bijlani

Li & Fung 2012

  • F. Warren McFarlan
  • Michael Shih-ta Chen
  • Keith Chi-ho Wong

Sony and the JK Wedding Dance

  • John Deighton
  • Leora Kornfeld

United Breaks Guitars

David dao on united airlines.

  • Benjamin Edelman
  • Jenny Sanford

Marketing Reading: Digital Marketing

  • Joseph Davin

Social Strategy at Nike

  • Mikolaj Jan Piskorski
  • Ryan Johnson

The Tate's Digital Transformation

Social strategy at american express, mellon financial and the bank of new york.

  • Carliss Y. Baldwin
  • Ryan D. Taliaferro

The Walt Disney Company and Pixar, Inc.: To Acquire or Not to Acquire?

  • Juan Alcacer
  • David J. Collis

Dow's Bid for Rohm and Haas

  • Benjamin C. Esty

Finance Reading: The Mergers and Acquisitions Process

  • John Coates

Apple: Privacy vs. Safety? (A)

  • Henry W. McGee
  • Nien-he Hsieh
  • Sarah McAra

Sidewalk Labs: Privacy in a City Built from the Internet Up

  • Leslie K. John

Data Breach at Equifax

  • Suraj Srinivasan
  • Quinn Pitcher
  • Jonah S. Goldberg

Apple's Core

  • Noam Wasserman

Design Thinking and Innovation at Apple

  • Barbara Feinberg

Apple Inc. in 2012

  • Penelope Rossano

Iz-Lynn Chan at Far East Organization (Abridged)

  • Anthony J. Mayo
  • Dana M. Teppert

Barbara Norris: Leading Change in the General Surgery Unit

  • Boris Groysberg
  • Nitin Nohria
  • Deborah Bell

Adobe Systems: Working Towards a "Suite" Release (A)

  • David A. Thomas
  • Lauren Barley

Home Nursing of North Carolina

Castronics, llc, gemini investors, angie's list: ratings pioneer turns 20.

  • Robert J. Dolan

Basecamp: Pricing

  • Frank V. Cespedes
  • Robb Fitzsimmons

J.C. Penney's "Fair and Square" Pricing Strategy

J.c. penney's 'fair and square' strategy (c): back to the future.

  • Jose B. Alvarez

Osaro: Picking the best path

  • James Palano
  • Bastiane Huang

HubSpot and Motion AI: Chatbot-Enabled CRM

  • Thomas Steenburgh

GROW: Using Artificial Intelligence to Screen Human Intelligence

  • Ethan S. Bernstein
  • Paul D. McKinnon
  • Paul Yarabe

a case study in strategic management

Arup: Building the Water Cube

  • Robert G. Eccles
  • Amy C. Edmondson
  • Dilyana Karadzhova

(Re)Building a Global Team: Tariq Khan at Tek

Managing a global team: greg james at sun microsystems, inc. (a).

  • Thomas J. DeLong

Organizational Behavior Reading: Leading Global Teams

Ron ventura at mitchell memorial hospital.

  • Heide Abelli

Anthony Starks at InSiL Therapeutics (A)

  • Gary P. Pisano
  • Vicki L. Sato

Wolfgang Keller at Konigsbrau-TAK (A)

  • John J. Gabarro

a case study in strategic management

Midland Energy Resources, Inc.: Cost of Capital

  • Timothy A. Luehrman
  • Joel L. Heilprin

Globalizing the Cost of Capital and Capital Budgeting at AES

  • Mihir A. Desai
  • Doug Schillinger

Cost of Capital at Ameritrade

  • Mark Mitchell
  • Erik Stafford

Finance Reading: Cost of Capital

a case study in strategic management

David Neeleman: Flight Path of a Servant Leader (A)

  • Matthew D. Breitfelder

Coach Hurley at St. Anthony High School

  • Scott A. Snook
  • Bradley C. Lawrence

Shapiro Global

  • Michael Brookshire
  • Monica Haugen
  • Michelle Kravetz
  • Sarah Sommer

Kathryn McNeil (A)

  • Joseph L. Badaracco Jr.
  • Jerry Useem

Carol Fishman Cohen: Professional Career Reentry (A)

  • Myra M. Hart
  • Robin J. Ely
  • Susan Wojewoda

Alex Montana at ESH Manufacturing Co.

  • Michael Kernish

Michelle Levene (A)

  • Tiziana Casciaro
  • Victoria W. Winston

John and Andrea Rice: Entrepreneurship and Life

  • Howard H. Stevenson
  • Janet Kraus
  • Shirley M. Spence

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a case study in strategic management

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a case study in strategic management

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a case study in strategic management

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After 35 years as an academic, I have come to the conclusion that there is a magic in the way Harvard cases are written. Cases go from specific to general, to show students that business situations are amenable to hard headed analysis that then generalize to larger theoretical insights. The students love it! Akshay Rao Professor, General Mills Chair in Marketing at the University of Minnesota

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a case study in strategic management

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Top 40 Most Popular Case Studies of 2017

We generated a list of the 40 most popular Yale School of Management case studies in 2017 by combining data from our publishers, Google analytics, and other measures of interest and adoption. In compiling the list, we gave additional weight to usage outside Yale

We generated a list of the 40 most popular Yale School of Management case studies in 2017 by combining data from our publishers, Google analytics, and other measures of interest and adoption. In compiling the list, we gave additional weight to usage outside Yale.

Case topics represented on the list vary widely, but a number are drawn from the case team’s focus on healthcare, asset management, and sustainability. The cases also draw on Yale’s continued emphasis on corporate governance, ethics, and the role of business in state and society. Of note, nearly half of the most popular cases feature a woman as either the main protagonist or, in the case of raw cases where multiple characters take the place of a single protagonist, a major leader within the focal organization. While nearly a fourth of the cases were written in the past year, some of the most popular, including Cadbury and Design at Mayo, date from the early years of our program over a decade ago. Nearly two-thirds of the most popular cases were “raw” cases - Yale’s novel, web-based template which allows for a combination of text, documents, spreadsheets, and videos in a single case website.

Read on to learn more about the top 10 most popular cases followed by a complete list of the top 40 cases of 2017.  A selection of the top 40 cases are available for purchase through our online store . 

#1 - Coffee 2016

Faculty Supervision: Todd Cort

Coffee 2016 asks students to consider the coffee supply chain and generate ideas for what can be done to equalize returns across various stakeholders. The case draws a parallel between coffee and wine. Both beverages encourage connoisseurship, but only wine growers reap a premium for their efforts to ensure quality.  The case describes the history of coffee production across the world, the rise of the “third wave” of coffee consumption in the developed world, the efforts of the Illy Company to help coffee growers, and the differences between “fair” trade and direct trade. Faculty have found the case provides a wide canvas to discuss supply chain issues, examine marketing practices, and encourage creative solutions to business problems. 

#2 - AXA: Creating New Corporate Responsibility Metrics

Faculty Supervision: Todd Cort and David Bach

The case describes AXA’s corporate responsibility (CR) function. The company, a global leader in insurance and asset management, had distinguished itself in CR since formally establishing a CR unit in 2008. As the case opens, AXA’s CR unit is being moved from the marketing function to the strategy group occasioning a thorough review as to how CR should fit into AXA’s operations and strategy. Students are asked to identify CR issues of particular concern to the company, examine how addressing these issues would add value to the company, and then create metrics that would capture a business unit’s success or failure in addressing the concerns.

#3 - IBM Corporate Service Corps

Faculty Supervision: David Bach in cooperation with University of Ghana Business School and EGADE

The case considers IBM’s Corporate Service Corps (CSC), a program that had become the largest pro bono consulting program in the world. The case describes the program’s triple-benefit: leadership training to the brightest young IBMers, brand recognition for IBM in emerging markets, and community improvement in the areas served by IBM’s host organizations. As the program entered its second decade in 2016, students are asked to consider how the program can be improved. The case allows faculty to lead a discussion about training, marketing in emerging economies, and various ways of providing social benefit. The case highlights the synergies as well as trade-offs between pursuing these triple benefits.

#4 - Cadbury: An Ethical Company Struggles to Insure the Integrity of Its Supply Chain

Faculty Supervision: Ira Millstein

The case describes revelations that the production of cocoa in the Côte d’Ivoire involved child slave labor. These stories hit Cadbury especially hard. Cadbury's culture had been deeply rooted in the religious traditions of the company's founders, and the organization had paid close attention to the welfare of its workers and its sourcing practices. The US Congress was considering legislation that would allow chocolate grown on certified plantations to be labeled “slave labor free,” painting the rest of the industry in a bad light. Chocolate producers had asked for time to rectify the situation, but the extension they negotiated was running out. Students are asked whether Cadbury should join with the industry to lobby for more time?  What else could Cadbury do to ensure its supply chain was ethically managed?

#5 - 360 State Real Options

Faculty Supervision: Matthew Spiegel

In 2010 developer Bruce Becker (SOM ‘85) completed 360 State Street, a major new construction project in downtown New Haven. Just west of the apartment building, a 6,000-square-foot pocket of land from the original parcel remained undeveloped. Becker had a number of alternatives to consider in regards to the site. He also had no obligation to build. He could bide his time. But Becker worried about losing out on rents should he wait too long. Students are asked under what set of circumstances and at what time would it be most advantageous to proceed?

#6 - Design at Mayo

Faculty Supervision: Rodrigo Canales and William Drentell

The case describes how the Mayo Clinic, one of the most prominent hospitals in the world, engaged designers and built a research institute, the Center for Innovation (CFI), to study the processes of healthcare provision. The case documents the many incremental innovations the designers were able to implement and the way designers learned to interact with physicians and vice-versa.

In 2010 there were questions about how the CFI would achieve its stated aspiration of “transformational change” in the healthcare field. Students are asked what would a major change in health care delivery look like? How should the CFI's impact be measured? Were the center's structure and processes appropriate for transformational change? Faculty have found this a great case to discuss institutional obstacles to innovation, the importance of culture in organizational change efforts, and the differences in types of innovation.

This case is freely available to the public.

#7 - Ant Financial

Faculty Supervision: K. Sudhir in cooperation with Renmin University of China School of Business

In 2015, Ant Financial’s MYbank (an offshoot of Jack Ma’s Alibaba company) was looking to extend services to rural areas in China by providing small loans to farmers. Microloans have always been costly for financial institutions to offer to the unbanked (though important in development) but MYbank believed that fintech innovations such as using the internet to communicate with loan applicants and judge their credit worthiness would make the program sustainable. Students are asked whether MYbank could operate the program at scale? Would its big data and technical analysis provide an accurate measure of credit risk for loans to small customers? Could MYbank rely on its new credit-scoring system to reduce operating costs to make the program sustainable?

#8 - Business Leadership in South Africa’s 1994 Reforms

Faculty Supervision: Ian Shapiro

This case examines the role of business in South Africa's historic transition away from apartheid to popular sovereignty. The case provides a previously untold oral history of this key moment in world history, presenting extensive video interviews with business leaders who spearheaded behind-the-scenes negotiations between the African National Congress and the government. Faculty teaching the case have used the material to push students to consider business’s role in a divided society and ask: What factors led business leaders to act to push the country's future away from isolation toward a "high road" of participating in an increasingly globalized economy? What techniques and narratives did they use to keep the two sides talking and resolve the political impasse? And, if business leadership played an important role in the events in South Africa, could they take a similar role elsewhere?

#9 - Shake Shack IPO

Faculty Supervision: Jake Thomas and Geert Rouwenhorst

From an art project in a New York City park, Shake Shack developed a devoted fan base that greeted new Shake Shack locations with cheers and long lines. When Shake Shack went public on January 30, 2015, investors displayed a similar enthusiasm. Opening day investors bid up the $21 per share offering price by 118% to reach $45.90 at closing bell. By the end of May, investors were paying $92.86 per share. Students are asked if this price represented a realistic valuation of the enterprise and if not, what was Shake Shack truly worth? The case provides extensive information on Shake Shack’s marketing, competitors, operations and financials, allowing instructors to weave a wide variety of factors into a valuation of the company.

#10 - Searching for a Search Fund Structure

Faculty Supervision: AJ Wasserstein

This case considers how young entrepreneurs structure search funds to find businesses to take over. The case describes an MBA student who meets with a number of successful search fund entrepreneurs who have taken alternative routes to raising funds. The case considers the issues of partnering, soliciting funds vs. self-funding a search, and joining an incubator. The case provides a platform from which to discuss the pros and cons of various search fund structures.

40 Most Popular Case Studies of 2017

Click on the case title to learn more about the dilemma. A selection of our most popular cases are available for purchase via our online store .

a case study in strategic management

Case Studies in Strategic Management

How Executive Input Enables Students’ Development

  • © 2019
  • Gunther Friedl 0 ,
  • Andreas Biagosch 1

TUM School of Management, Technical University of Munich, Munich, Germany

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  • Merges theoretical knowledge, strategic thinking and specific analysis with practical business decisions
  • Presents a new approach to case studies applied at the TUM School of Management
  • Includes two case studies that won the international case writing competition at EFMD

Part of the book series: Management for Professionals (MANAGPROF)

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Table of contents (4 chapters)

Front matter, case: the renewed case seminar.

  • Andreas Biagosch

Supporting Companies and Participating Managers in Case Study Presentations

Case: unu gmbh: sharing is caring—a suitable business model for e-scooter in germany.

  • Franziska Beck, Michael Krauß, Frieder Weidenbach

Case: UBS—Acquisition of Commerzbank AG as a Possible Growth Strategy

  • Fahrudin Abazi, Philipp Deisler, Michael Eisenlauer

Back Matter

  • Case Method
  • Executive Education
  • Business School
  • Commerzbank AG

About this book

Editors and affiliations.

Gunther Friedl, Andreas Biagosch

About the editors

Andreas Biagosch worked for McKinsey & Company for more than 30 years. He is now member of several supervisory boards of large family firms and lectures at the Technical University of Munich.

Gunther Friedl is a Professor of Management Accounting at the Technical University of Munich and Dean of its Business School TUM School of Management.

Bibliographic Information

Book Title : Case Studies in Strategic Management

Book Subtitle : How Executive Input Enables Students’ Development

Editors : Gunther Friedl, Andreas Biagosch

Series Title : Management for Professionals

DOI : https://doi.org/10.1007/978-3-319-95555-1

Publisher : Springer Cham

eBook Packages : Business and Management , Business and Management (R0)

Copyright Information : Springer International Publishing AG, part of Springer Nature 2019

Hardcover ISBN : 978-3-319-95554-4 Published: 22 September 2018

Softcover ISBN : 978-3-030-07057-1 Published: 08 February 2019

eBook ISBN : 978-3-319-95555-1 Published: 08 September 2018

Series ISSN : 2192-8096

Series E-ISSN : 2192-810X

Edition Number : 1

Number of Pages : XX, 91

Number of Illustrations : 21 b/w illustrations, 45 illustrations in colour

Topics : Accounting/Auditing , Management Education , Innovation/Technology Management , Start-Ups/Venture Capital , Financial Accounting

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Case Studies in Strategic Management

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Book description

Through handpicked cases from a variety of areas and business houses, this book illustrates how strategic management can be used to achieve better operational performance and strengthen their services by aligning business goals with performance measures.

Table of contents

  • Copyright (1/2)
  • Copyright (2/2)
  • ONLINE WEB RESOURCES
  • ACKNOWLEDGEMENTS
  • BSC PERSPECTIVES
  • BSC APPROACH TO BUSINESS VALUE DELIVERY
  • FRAMEWORK FOR DESIGNING MIS
  • FURTHER READINGS
  • INTRODUCTION
  • RMRB INTERNATIONAL’S DIVISIONS
  • SECTORS RESEARCHED BY RMRB
  • SERVICES OFFERED BY RMRB
  • SYNDICATED OFFERS
  • PARENT COMPANY
  • KANTAR GROUP
  • RMRB INTERNATIONAL’S DIVISION: SRRI
  • INFORMATION SECURITY
  • DERIVATION OF OPERATIONAL STRATEGY
  • DESIGN OF MANAGEMENT INFORMATION SYSTEM (MIS)
  • MIS FOR THE RESEARCH DEPARTMENT
  • DISCUSSION QUESTIONS
  • COMPANY PROFILE
  • HOLDING STRUCTURE
  • BUSINESS DIVISIONS
  • INDUSTRY OVERVIEW
  • BUSINESS STRATEGY
  • UNDERSTANDING THE TERM MERGER AND ACQUISITION (M&A)
  • M&AS: A BUSINESS STRATEGY
  • SOME ISSUES IN M&As
  • MANAGING THE CHANGE DURING INTEGRATION
  • STAGES IN M&A INTEGRATION
  • BUSINESS PROCESS
  • MAJOR STAKEHOLDERS
  • MANAGEMENT INFORMATION SYSTEM (MIS) FOR INTEGRATION
  • OBJECTIVES OF A MIS
  • PRE-INTEGRATION STRATEGIC INFORMATION SYSTEM
  • STRATEGIC INFORMATION SYSTEM FOR PROCESS INTEGRATION
  • ARCHITECTURE FOR STRATEGIC INFORMATION FLOW
  • BALANCED SCORECARD FOR M&A
  • BUSINESS LOGIC
  • MEASUREMENT OF KEY PARAMETERS
  • A SAMPLE MIS REPORT
  • BUSINESS BENEFITS OF MIS
  • ECONOMIC BENEFIT PROJECTION
  • BIBLIOGRAPHY
  • INTRODUCTION TO TATA CHEMICALS
  • GROWTH WITH RESPONSIBILITY
  • ENRICHING LIFE
  • FERTLIZER SECTOR OF TCL
  • INDIAN AGRICULTURE AT A GLANCE
  • TATA FERTILIZER
  • STATERGIES ADOPTED FOR FERTILIZER BUSINESS
  • INFORMATION FLOW FOR MARKETING OF FERTILIZERS BY TATA CHEMICALS
  • COST-BENEFIT ANALYSIS FOR TECHNOLOGY INVESTMENT
  • COMPETITION ANALYSIS
  • SWOT ANALYSIS
  • HISTORY OF MONSANTO
  • ORGANOGRAM OF MONSANTO
  • STAKEHOLDERS OF MONSANTO—A BRIEF REVIEW
  • STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS (SWOT) ANALYSIS
  • ENTERPRISE RESOURCE PLANNING (ERP) TAKES ROOT
  • FUNCTIONAL INTEGRATION
  • INFORMATION SYSTEM ARCHITECTURE
  • MONSANTO’s BUSINESS STRATEGY
  • OPERATIONAL STRATEGY
  • DEVELOPING R&D METRICS USING THE BALANCED SCORECARD APPROACH
  • STRATEGY TREE
  • THE BENEFITS OF INFORMATION SYSTEM (IS) ENABLED MANAGEMENT TRANSFORMATION
  • FUNCTIONAL BENEFITS OF FUNCTIONAL INTEGRATION
  • COST–BENEFIT ANALYSIS OF FUNCTIONAL INTEGRATION
  • EVALUATION OF TANGIBLES
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  • SAMPLE MANAGEMENT INFORMATION SYSTEM (MIS) REPORT
  • COST–BENEFIT ANALYSIS
  • VISION OF A FIRM
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  • DERIVATION OF OBJECTIVES USING BALANCED SCORECARD FOR PANTALOONS
  • MIS TOOLS USED IN PANTALOONS
  • DISCUSSIONS AND FINDINGS
  • RPG: BACKGROUND
  • CURRENT SITUATION
  • COMPANY OVERVIEW
  • VISION OF THE COMPANY
  • MISSION OF THE COMPANY
  • VALUES OF THE COMPANY
  • OBJECTIVES OF RPG
  • CORPORATE STRATEGY
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  • CALCULATING THE ROI
  • MANAGEMENT INFORMATION SYSTEM (MIS) IMPLEMENTATION
  • INDUSTRY ANALYSIS
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  • FACTORS AFFECTING THE IT STRATEGY OF TATA SKY
  • IT STRATEGY FOR TATA SKY
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  • IMPLEMENTATION
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  • ARCHITECHTURE
  • A COMPONENT-BASED ARCHITECHTURE
  • BUSINESS ANALYTICS
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  • TECHNOLOGY IN THE INDIAN BANKING INDUSTRY
  • ICICI BANK COMPANY OVERVIEW
  • CORPORATE STRATEGY OF ICICI BANK DERIVED FROM SWOT ANALYSIS
  • STAKEHOLDERS OF ICICI BANK
  • CORPORATE STRATEGY TO ADDRESS STAKEHOLDER PERSPECTIVES
  • ROLE OF CHIEF INFORMATION OFFICER (CIO)
  • IMPLEMENTATION OF MANAGEMENT INFORMATION SYSTEM (MIS)
  • PROPOSED BI SYSTEMS FOR ICICI
  • BI TOOLS USED IN ICICI BANK
  • BUSINESS INFORMATION STRATEGY (BIS)
  • RISK MANAGEMENT AND IT SECURITY
  • RISK ASSESMENT AND SECURITY SYSTEMS USED BY ICICI
  • TECHNOLOGY AND SYSTEMS THAT ARE SECURED AT ICICI
  • BUSINESS CONTINUITY PLAN (BCP) AND DISASTER RECOVERY IN ICICI
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  • HARDWARE AND NETWORK AT ICICI
  • IT-ENABLED SERVICES
  • CURRENT SYSTEMS IN PLACE
  • WAY FORWARD

Product information

  • Title: Case Studies in Strategic Management
  • Author(s): Sanjay Mohapatra
  • Release date: June 2011
  • Publisher(s): Pearson India
  • ISBN: 9788131759844

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Nike Strategic Management: The Case Study Essay

Introduction, marketing environment and success strategy, drivers to superior performance, strategic management tools, marketing strategy and international markets, competitive advantage and value creation.

Nike Inc. is an international company based in the United States, which deals with sportswear and other apparels. The company is ranked as the top seller of sports shoe and clothing. Nike was started in 1964 by Bill Bowerman and was originally called Blue Ribbon Sports, but was later changed to Nike in 1978. During that time, its main goal was to produce low cost, high quality shoes for Americans to break Germans control over domestic trade (Nike, Inc., 2009).

Today, Nike not only distributes its products domestically, but also all around the globe. It has market regions in continents such as Asia, Europe, and United States. Besides, Nike has produced many brands such as Nike Skateboarding and Nike Pro. This paper focuses on the Nike Company and the strategic methods and tools that have led to its superior performance.

According to Peters (2009), Nike produces a wide range of products, which are categorized according to their relevant sports. Nike’s first products were track shoes, which were meant for running: the company has managed to design and produce shoes for different games such as baseball, hockey, football, basketball and Cricket.

This is due to the ever-increasing number of customers favoring the company’s products. The latest product that has been produced is the Cricket shoe named as air zoom Yorker (Nike, Inc., 2009). Air Zoom Yorker is better because it is 30% lighter as compared to the one designed by Reebok. Another new product is air Jordan XX3, which is meant for basketball.

Additionally, as a company that relies on collaborative marketing, Nike together with Apple Inc. has designed a product that is able to check runner’s performance through a radio device, which is placed inside the shoe and is connected with the iPod nano. Nike has also produced shoes that contain flywire and lunarlite foam meant to make the shoe lighter.

The Nike+sports brand records the mileage, lost calories, and time used. According to Mintzberg, Ahlstrand, and Lampel (2005), product differentiation and market segmentation form the basis for strategic management in marketing. In this light, meeting customers’ demands has been the strategic objective in Nike’s plan.

Dess and Alan (2006) affirm that the marketing strategy used by Nike is an essential element for its success. It has enticed its customers through advertising with a slogan ‘Just Do It’. Nike has also teamed up with athlete celebrities through sponsorship agreements. It has many elements of advertising such as advertising through television.

The first advert was created by Wieden and Kennedy at New York marathons. Similarly, Nike has also won Emmy Awards for commercial advert. The advert that won the award was based on what an athlete could face if there was Y2K realization on 1 January 2000.

The second commercial advert was called ‘move’, which marked the famous athletes. In product promotions, Nike pays players to wear their products such as t-shirts, shoes and shorts in order to advertise them. Such players include Michael Jordan, and through him, the promotion has boosted Nike’s publicity and sales. It also sponsors many football clubs in Brazil, Netherlands and United States.

Golf players like Tiger Woods and Michelle Wie have also benefited from the sponsorships. Nike also sponsors high school basketball and has developed websites for various sports such as nikerunning.com (Johnson & Scholes, 2008).

However, Nike has faced a tough competition in the market with companies such as Reebok and Adidas, which sell the same products as it does. Reebok has many female consumers, but has a weakness of poor marketing as compared to Nike. It does not always advertise its products on Televisions as compared to other Companies. Nike has tried to capture a big market share of female customers by sponsoring Women’s world cup football, which was held in 1999.

Nike has used the five forces model of competition that determines the industry structure. This model has helped it to deal with external forces such as, new entrants in the market, alternative products or services, bargaining influence of suppliers and buyers and competition and enmity among other competitors (Berman & Evans, 2006).

Onkvisit and Shaw (2004) argues that the risk of new entrants has been a threat to Nike since there are other firms in the clothing and shoe industry that have a potential to produce sportswear shoes and clothes if given a choice. Entry of new entrants has affected the prices because Nike has lowered some of its product costs.

However, the threat has been minimized by government regulations and brand loyalty. Further, Nike avoids extreme rivalry among other competitors because it is a risk to profitability rates. Nike, Inc. considers the bargaining power of the buyers as a threat because strong buyers have the power to lower the products prices and hence raise costs. The buyers are capable of buying in huge quantities and therefore getting a lot of profit while the firm suffers loss (Lynch, 2006).

The company has balanced its products productions and costs to minimize the bargaining power of buyers. Nike has also been able to cope with the bargaining power of suppliers, which poses a threat because the suppliers have power to increase the prices on raw materials. Nike has reliable suppliers who inform the management first upon the increase of costs of raw materials.

Nike has common drivers that produce superior performance. These drivers include people management, which entails realization of the potential of the employees either in groups or in an individual level. The company has come up with a strategy of upholding fairness among the employees, communication and caring for employees (Nike, Inc. 2009).

Through communication, the company ensures that there is a flow of information between the top, middle and higher levels to ensure that every employee’s contribution is taken into consideration. Nike, Inc. also motivates the employees by giving them incentives and rewards to build commitment to promote the organization.

People development enables employees to utilize their potentials and fully contribute to the organization’s goal realization. Rewards and recognitions motivate employees to give their best performance and strive to excel through continuous improvement (Berman & Evans, 2006). Furthermore, Nike has authorized the customer liaison manager to replace customer’s products in case of a complaint. The manager can make decisions without consulting the management.

Johnson and Scholes (2008) assert that leadership is another driver to superior performance, and it entails transforming the organizations direction and instigating others to follow. Leadership is paramount in Nike’s strategic management. Leaders have a stake in realization of the vision, mission and objectives of an organization because they ensure that other employees follow the organizations values. Leadership is developed at top, middle and lower levels in the organization.

Continuous improvement is another driver, which is activated by both customers and employees. In this case, there is feedback from the customers and from the employees and hence customer’s needs are met. Organizations’ processes are improved because customers provide their needs and the employees act and produce products according to customer’s specifications – all the stakeholders gain improvement benefits (Joshi, 2005).

Similarly, customer focus is a driver where a relationship with customers is an important issue. This entails assessing customer’s perceptions about products and acting on their response as soon as they raise an issue of concern about a product. Close relationships with customers benefits all the stakeholders involved. Nike has also employed process focus as a driver for performance improvement. The system performance has to meet the set objectives since it is a key technique (Nike, Inc., 2009).

Another important driver to performance is collaborating with suppliers. This entails relationships between the organization and the suppliers (Lynch, 2006). Nike has recognized suppliers as key for the organization to achieve shared goals while also sharing expertise and knowledge.

Improving on processes allows working with suppliers to share resources and improve performance. Nike applies various communication strategies within all its stakeholders to encourage openness and reliance. When communication flows through all the levels in the organization, it makes it easy for the employee’s ideas to be taken into consideration.

Stimulating innovation and creativity is another driver that has supported Nike to build up competitive products and services. This has been achieved by modifying the organization structure and being involved with product improvement activities. Nike has also managed its assets and resources to improve the effectiveness and efficiency of the organization. Protection of its properties maximizes customer’s value (Mark, 2000).

Onkvisit and Shaw (2004) concurs that measuring performance and benchmarking is another driver that Nike uses for superior performance. By utilizing a balanced score card, it has been able to measure process improvements alongside with the organizations objectives.

The company also monitors performance in other organizations and collect information from existing and future stakeholders. It uses the information to plan for the future, set targets to be achieved within a certain period, and get unique ideas on improvements from other organizations.

Furthermore, Nike employs corporate social responsibility as a driver to superior performance as well as interacting with the society representative. A good example of this is boosting children’s games in the community by sponsoring their sports and provision of uniforms that has Nike’s logo (Nike, Inc., 2009).

Strategic management is a technique that Nike, Inc. has been able to apply to determine how it is performing in its current position and how its future should be. This has greatly helped the managers to lay a plan for the organization and take it where they want it to be. The management employs strategic management components such as vision, environmental analysis, strategy creation, strategy implementation, and strategy assessment (Nike, Inc., 2009).

Nike has set business plans through strategic management in order to assess its business areas. It is a process which managers build strategies to get better results in performance. This involves studying the competitors’ techniques, both in the current and future. The Company has utilized strategic management tools which have supported it to examine itself in the present and perceive how its future will be. Strategic management acts as a road map to show managers the best direction to follow for the organization to be where it is supposed to be (Lynch, 2006). The tools employed for strategic management include mission statement, SWOT analysis, SMART goals and benchmarking.

Mission statements help to make clear how the organization is observed and how it will be perceived in the future. The organization reflects on how it will be different from other competitors like Reebok in the market place. SWOT analysis has been applied to find out the organizations strengths, weaknesses, prospects and risks.

Berman and Evans (2006) affirm that this has supported the organization to take advantage of its strengths and reduce the impact of its weaknesses. SWOT analysis has assisted the management to consider other external factors such as new openings and risks to be avoided.

SMART goals ensure that the goals and objectives laid down are specific, assessable, achievable, appropriate, and timely. SMART goals are essential for Nike’s management because they have enabled the company to get rid of frustrations due to unrealistic goals. The management has been specific to establish whether the set goals have been met.

Measuring enables the management team to gauge whether they are about to reach their goals and if not close to the goals, how much time and work is remaining in order to get there (Mintzberg, Ahlstrand, & Lampel, 2005).

Benchmarking is another tool that is employed to scrutinize and adapt to the best processes from other organizations around the globe. As explained earlier, managers have been able to improve the organizations performance to meet its goals and to be at the competitive edge over its competitors.

Other techniques that have been used in project management include program evaluations; this helps the company to evaluate a project from start to end. This has supported the management to ascertain the time left to for the completion of the projects. Nike utilizes these projects and programs to reach its goals and achieve its objectives.

The Company uses break even analysis technique to decide on the number of products to sell to break even and grow to be profitable. Lynch (2006) says that game theory is applied in the market to conclude how the customers will react and it does this either through increase in prices or introduction of new products.

Financial control techniques like budgets, audits, and financial breakdown are efficient in controlling and balancing the cost of business. Budgets are employed to manage the organizations income and expenditure as well as allocation of resources to different activities and projects.

Nike has many strategic management techniques organized in steps to achieve the laid down goals and objectives. First, environmental scanning is a process that the company employs to collect information from both internal and external environments that has power to influence the organization. This is meant for improving the processes through analyzing competitors, employees, products, and suppliers (Mark, 2000).

After analyzing the environment, strategy formulation is the next step where Nike management takes the best plan among many to accomplish organizational goals and objectives. Through this stage the managers set strategies for business and functional policies. Strategy implementation is taking the best plan and implementing it (Berman & Evans, 2006). Organization structure is devised in this step together with the allocation of resources, hiring of human resource and coming up with a clear decision making process.

Strategy evaluation is the last step where the strategy implemented is assessed to determine whether it is performing well and if it has deviated, and that the best corrective actions are taken. The purpose for the evaluation is to make sure that that the organization goals are met.

In light of this, Nike has been on the global market and has gained competitive advantage on the market. Its marketing managers keep on analyzing the global industries and how competition keeps changing. Trade is increasingly becoming global because of improvement in transport and communication. Nike’s consumers have been able to have access to a wide range of products in their countries. Nike started exporting its products in small amounts, but later increased and reached the export stage. It got more and more foreign orders until it was able to export its products all over the world (Nike, Inc., 2009).

Nike has stayed at international market for a long time and it applies many techniques such as adding new brands. Nike keeps on adding new products such as sports shoe and clothes. The information about the new product is posted on the website (nike.com) where consumers can read. Joshi (2005) asserts that through advertising of the new product, Nike gains an increase in sales because this has brought in new customers who have never bought the current products.

The existing customers have had a variety of the products to choose. Nike combines the new brand and the old ones into an exceptional package as an offer. Nike has also become a valuable resource to its customers by giving them free information about the products. They have assisted their customers to easily get services, fast deliveries, and at low costs.

The company is unique since it produces exclusive and best quality products. They have also promoted the end result of products by telling the consumers about the benefits they will get when they choose to use the products. Nike keeps on changing its marketing strategies due to other aggressive and innovative rivals like Puma, Reebok, and Adidas (Peters, 2009).

Nike’s brands have turn out to be to be very strong as compared to others such as Reebok and Puma. Their secret is brand management because despite selling their products at a higher price, consumers are still willing to pay more money for its brands which are believed to be of high quality with different styles. Due to the strong brand competitive advantage, Nike has been able to increase its market share all over the globe. Its prices are a bit high as compared to other competitors but it has made many sales than those of its competitors.

Nike, Inc. has gained a competitive advantage over its rivals. This is achieved through giving consumers a greater value and offering high quality products. The company has devised superior value over other competitors. Nike, Inc. uses Michael Porters strategies for competitive advantage such as cost leadership, focus, and differentiation (Johnson & Scholes, 2008).

The reason why Nike, Inc. has gained a competitive advantage over other companies is that it undertakes an evaluation process, which involves evaluation of resources, clarification of goals, defining customers and examining competitors.

In evaluation of resources, the company relies on the resources available and plans on how to use them through product offering and resources. In goals clarification, Nike plans on how to achieve its goals and objectives. Defining customer’s strategy entails looking at the products and services that the plans to develop, and is not provided by the other competitors.

This assists Nike, Inc. to determine and communicate to its customers in order to understand their needs and get additional suggestions from them. Examination of competitors helps to identify other ventures targeting a particular market. Through this, Nike compares its strengths and weaknesses with the other competitors (Nike, Inc., 2009).

In this regard, there are many techniques used to achieve a competitive advantage. These techniques include product differentiation, service differentiation, people differentiation, image differentiation, quality differentiation, and innovation differentiation (Lynch, 2006). Product differentiation implies that Nike has a wide range of products. Other competitors have tried to imitate its products but it remains upfront due to its quality and the products are different in styles and consistency.

Peters (2009) argues that in service differentiation, Nike, Inc. offers additional services such as delivery and product return services. This extra service is the one that consumers are after. Information and other instructions about the products are also extra services that attract customers.

People differentiation entails hiring result oriented employees who are better than those in other rival companies. Because employees are intangibles, it is difficult to imitate them as in the case of tangibles. Training employees and paying attention to their needs gives Nike Inc. a competitive advantage.

Employees such as production staff produce quality products, and it is hard for the competitor to know that the competitive advantage is due to employees’ improvement. The competitor may think that the competitive advantage is due to equipments and materials. People differentiation is essential when customers are directly served by the employees. The way employees handle a customer at first time determines whether he will return another time (Berman & Evans, 2006).

Image differentiation is another technique that has been applied by Nike to differentiate its brand image from other competitors. A negative image can destroy the company’s image within a short time. As Nike undertakes many activities, it supports its image because the “Nike” mark symbolizes good, and it is easy to identify. In quality differentiation, Nike sells high quality products to its customers. Innovation differentiation entails process innovation.

Process innovations reduce the costs of production and the competitors may take time to discover what the company is doing to gain competitive advantage (Nike, Inc., 2009). Nike strives to sustain its competitive advantage because it is not long lasting. This sustainability is achieved through giving value to customers, creation of non-imitable products, which may not be copied by its rivals, and production of products that cannot customers cannot substitute easily.

In selecting a competitive advantage, Nike, Inc. selects ways of making products that competitors cannot imitate easily because the management understands what its customers needs are.

The company has realized that variety is totally different from differentiation. Nike has strived to stay at the competitive edge because of its efforts and strategies. It has faced many challenges since other competitors have tried to copy it through successful advantages for their business in the dynamic market place. Thus, establishing the market edge is important as well as maintaining it (Mark, 2000).

There are many ways that Nike has attracted its customers for value creation. Customer incentive programs are one of the successful programs within the organisation (Nike, Inc., 2009). Nike offers give away to customers, tickets, sales, sponsorships and discounts. Nike sponsors many players in different sports.

Such players who have benefited from sponsorships include; James Blake and Roger Federer. It also sponsored Indian cricket team for a period of five years and national soccer clubs in countries like India, Netherlands and Malaysia. Top golfers like Tiger woods and Lucas Glover has also benefited from Nike’s sponsorships.

Moreover, Nike has retained both traditional and non-traditional methods of distribution in over 100 companies, but it focuses more on its primary market regions. Apart from product diversification, Nike has diversified supply chain and manufacturing due to international economic crises and other risks. It has many contracted suppliers outside the United States, including Vietnam and Thailand. There are other contractors who manufacture its products in over 35 countries.

In the year 2003, China manufactured 38%, Indonesia 27%, Vietnam 18% and Thailand 16%, while the rest was manufactured by other countries. This has enabled Nike to make large amount of sales. Supplier diversity has also increased its competitiveness in the market and it continues to contract more suppliers in many countries because it believes that supplier relationship is vital.

Nike Inc has also employed value creation as a management goal. Creating value for consumers has increased sales as well as the shareholders through the increase in stock price. Value creation is characterized by brands, people and innovation (Mintzberg, Ahlstrand, & Lampel, 2005). Nike, Inc. has prioritized value creation in its decision-making. This has helped the managers to know where and how to build the companies capability to attain profitable and lasting growth.

Mark (2000) agrees that through value creation, the company has been able to understand the basis and drivers of value creation in the business and market place. They have realized that the consumers value high quality and timely delivery of products and so the processes that lead to the delivery of high quality products are greatly valued. Some of the customers have valued innovation and so the processes involved in creation of new products are also highly valued.

Value creation also entails product and process innovation as well as knowing the consumers needs. Nike, Inc. has also realized that value for employees is essential since they feel motivated and work hard to produce better results. Therefore, proper treatment of the employees and involving them in decision-making creates value.

Nike has awarded and promoted managers who have defeated the other competitors like Puma in value creation. In this case the managers have positioned capital better than the other competitors. Nike has gained an advantage in developing the organizations ability to get more profits and future growth.

Other companies that have achieved the benefits of value creation are Coca-Cola and the Lloyds banks. These companies applied value creation as a technique and have realized growth and increase in their profitability. In acquisitions, Nike has acquired Upscale Footwear Company, surf apparel company, Hurley international and converse Inc. It has sold some of its subsidiaries such as Bauer Hockey and Starter (Nike, Inc., 2009).

Nike, Inc. has achieved its superior performance, mostly through competitive positioning and value creation. This has been achieved through advertising, brand name recognition, product innovation, and striving to be at the competitive edge despite having a stiff competition.

Nike employs many strategies and techniques such as strategic management tools and models, product differentiation, and proper distribution channels. Many consumers have realized the uniqueness of their products and recognize them through the trade name ‘Just Do it’ and Swoosh Logo. They have maintained customers because of their high quality products and unique marketing strategies.

Berman, B. and Evans, J. (2006), Retail Management, A strategic Approach , London: Prentice Hall.

Dess, G. L. and Alan, B. E. (2006), Strategic Management: Text and Cases. Boston: McGraw-Hill Irwin.

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Joshi, R. M. (2005), International Marketing , New York: Oxford University Press

Lynch, R. (2006), Corporate Strategy , (4 th edn) London: Prentice Hall.

Mark, M. H. (2000), Creating Public Value: Strategic Management in Government, Cambridge: Harvard University Press.

Mintzberg, H., Ahlstrand, B. and Lampel, J. (2005), Strategy Safari: A Guided Tour Through the Wilds of Strategic Management , London: Prentice Hall 11.

Nike, Inc. (2009), Annual Report on Form 10-K , [pdf]. Available at: < http://media.corporate-ir.net/media_files/irol/10/100529/AnnualReport/nike-sh09-rev2/docs/Nike_2009_10-K.pdf > .

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Strategic Management: Text and Cases, Tenth edition , written by authors Dess, McNamara, Eisner,and Lee continues its tradition of being readable, relevant, and rigorous. Its engaging writing style minimizes jargon to maximize readability.  It provides examples from management practice and societal themes including environmental sustainability, ethics, globalization, entrepreneurship, and data analytics to make the content relevant.  It draws on the latest research by management scholars and insights from executives to balance accessibility with rigor. 

They provide separate chapters on the role of intellectual assets in value creation (Ch. 4), entrepreneurial strategy and competitive dynamics (Ch. 8), and fostering entrepreneurship in established organizations (Ch. 12). This version includes the all the text and 38 cases.

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About the Author

Gregory Dess

Gregory G. Dess is the Andrew R. Cecil Endowed Chair in Management at the University of Texas at Dallas. His primary research interests are in strategic management, organization environment relationships, and knowledge management. He has published numerous articles on these subjects in both academic and practitioner-oriented journals. He also serves on the editorial boards of a wide range of practitioner-oriented and academic journals. In August 2000, he was inducted into the Academy of Management Journal  Hall of Fame as one of its charter members. Professor Dess has conducted executive programs in the United States, Europe, Africa, Hong Kong, and Australia. During 1994 he was a Fulbright Scholar in Oporto, Portugal. In 2009, he received an honorary doctorate from the University of Bern (Switzerland). He received his PhD in business administration from the University of Washington (Seattle) and a BIE degree from Georgia Tech.

Gerry McNamara

Gerry McNamara is the McConnell Broad Professor of Management at Michigan State University. His research draws on cognitive and behavioral theories to explain strategic phenomena, including strategic decision making, mergers and acquisitions, and environmental assessments. His research has been published in the Academy of Management Journal , the Strategic Management Journal, Organization Science, Organizational Behavior and Human Decision Processes , the Journal of Applied Psychology , Personnel Psychology , the Journal of Management , and the Journal of International Business Studies . Gerry’s research has also been abstracted in the Wall Street Journal, Harvard Business Review, New York Times, Bloomberg BusinessWeek , the Economist , and Financial Week . He has served as an associate editor for the Strategic Management Journal and the Academy of Management Journal . He received his PhD from the University of Minnesota.

Alan Eisner

Alan B. Eisner is Dean of the School of Management and Professor of Management at Clark University. He received his PhD in management from the Stern School of Business, New York University. His primary research interests are in strategic management, technology management, organizational learning, and managerial decision making. He has published research articles and cases in journals such as Advances in Strategic Management, International Journal of Electronic Commerce, International Journal of Technology Management, American Business Review, Journal of Behavioral and Applied Management , and Global Journal of Business Pedagogy . He is the former associate editor of the Case Association’s peer-reviewed journal, The CASE Journal.

Seung-Hyun Lee

Seung-Hyun Lee is a Professor of strategic management and international business and the Area Coordinator of the Organization, Strategy, and International Management area at the Jindal School of Business, University of Texas at Dallas. His primary research interests lie on the intersection between strategic management and international business spanning from foreign direct investment to issues of microfinance and corruption. He has published in numerous journals including Academy of Management Review, Journal of Business Ethics, Journal of International Business Studies, Journal of Business Venturing, and Strategic Management Journal . He received his MBA and PhD from the Ohio State University.

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Quality Risk Management for Biopharmaceuticals

Quality Risk Management for Biopharmaceuticals

In the dynamic and highly regulated world of biopharmaceutical manufacturing, maintaining and ensuring quality is a critical success factor. An effective quality risk management (QRM) system is a key component in the overall quality management infrastructure of biopharmaceutical organizations. It offers a structured, scientific, and risk-based approach to decision-making, addressing potential quality issues during manufacturing. High performing organizations effectively implement QRM into overall quality policies and procedures to enhance and streamline decision-making.

Implementing a robust QRM system is more than just a compliance requirement. It fundamentally contributes to the organization’s commitment to patient safety, product quality, and data integrity. A robust QRM system consists of key characteristics with clearly defined processes that contribute to the system’s success.

Reviewing the Risk Compliance Data

The following graphical data shows the relative compliance risk for pharmaceutical manufacturing organizations based on US Food and Drug Administration (FDA) regulatory activity (see Figure 1). Monitoring regulatory trends based on actual FDA activity provides useful insight for evaluating internal quality management system performance and proactively identifying areas of opportunity to improve overall compliance. Six major pharmaceutical regulation subparts are charted with relative annual activity increasing significantly from 2016 to 2020. During that period, the Building and Facilities, Laboratory Controls, and Production and Process Controls subparts were the largest areas, receiving 483 observations during regulatory inspections.

Those areas present increased compliance risk that would benefit from a formal review, gap analysis, and remediation to improve overall quality system performance and serve as priorities for time and resources. Regulatory risk during the COVID-19 pandemic decreased dramatically as the FDA performed few, if any, on-site investigations. However, activity during 2022 represents renewed on-site investigations with associated regulatory risk.

Figure 2 provides an annual trend of the top cited pharmaceutical regulations from 483 observations during regulatory investigations. These regulations are from the subparts identified in Figure 1 and the largest contributors to pharmaceutical regulatory risk. Any efforts to evaluate biopharmaceutical risk should consider the specific requirements identified in these regulations and address gaps identified during formal review and gap analysis as part of a QRM plan.

A Case Study

This case study concerns a major biopharmaceutical organization that specializes in producing monoclonal antibodies (mAbs) used in the treatment of various autoimmune diseases. As part of their commitment to quality and regulatory compliance, they have implemented a robust QRM system.

The organization’s production engineers identified a potential risk in their manufacturing process. The risk was related to variability in the cell culture phase, which could potentially lead to inconsistencies in the final product’s efficacy and safety.

Risk Identification

The QRM team initiated the risk identification process using failure mode and effects analysis (FMEA) and brainstorming sessions with cross-functional teams. They identified key risk factors, such as pH imbalances, temperature fluctuations, and contamination risks during the cell culture phase.

Figure 1: Data from total Title 21 CFR Part 211 key pharmaceutical subpart citations showing relative compliance risk for pharmaceutical manufacturing organizations.

Risk Assessment

Using a risk matrix, the team assessed the potential impact and likelihood of each identified risk. They determined that temperature fluctuations posed the highest risk due to their high likelihood and potential to significantly impact product quality.

Risk Control

The organization decided to implement additional control measures to mitigate this risk:

  • Enhanced monitoring: Installing advanced temperature monitoring systems with automatic alerts for deviations.
  • Process improvement: Optimizing the cell culture process to be more robust against minor temperature changes.
  • Employee training: Conducting extensive training for staff on the importance of maintaining optimal temperature conditions.

Risk Communication

The QRM team communicated the identified risks, their potential impact, and the planned control measures to all relevant stakeholders, including the manufacturing team, quality assurance department, and senior management.

Implementation

The proposed measures were implemented, and their effectiveness was closely monitored. This included regular review meetings and updates to the risk management plan.

The new control measures led to a significant reduction in temperature-related variability in the cell culture process. As a result, the consistency and quality of the mAbs improved, leading to enhanced patient safety and regulatory compliance.

Lessons Learned

The proactive approach to identifying and managing a critical risk in their manufacturing process demonstrated the importance of a dynamic and integrated QRM system. The case also highlighted the need for continuous monitoring and improvement in risk management practices.

Case Study Conclusion

This case study exemplifies the application of a structured QRM process in the biopharmaceutical industry. It illustrates the importance of identifying, assessing, controlling, and communicating risks in a systematic manner to ensure the production of high-quality biopharmaceutical products.

Characteristics of a Biopharmaceutical Qrm System

Identification of risk is a cross-functional effort that begins in the late development stages prior to technology transfer. In the early stages, research and development (R&D) is the main contributor in the risk identification process, which is facilitated by quality and manufacturing who are participants. As manufacturing develops detailed knowledge of the new process and technology, it provides a strong perspective on potential issues and risks that may exist in day-to-day manufacturing. At this time, all teams must compromise to ensure the final technology and process transfer meet the strategic goals of launching a new product.

Once the technology transfer is complete, manufacturing takes the lead in monitoring risk, along with quality. The manufacturing team also proposes any potential changes, which are reviewed by R&D, quality, and, possibly, commercial participants. Performance metrics are developed jointly between quality and manufacturing and used to periodically report to cross-functional leaders.

The main characteristics of a robust QRM system for biopharmaceutical manufacturers are identified in the following sections.

The initial step in any QRM system is the identification of potential risks. It is necessary to understand what could potentially go wrong in the manufacturing process to manage and mitigate these risks effectively. Elevated performance in risk identification is demonstrated by organizations conducting risk identification with input from cross-functional subject matter experts.

This typically involves brainstorming sessions with relevant stakeholders, analysis of historical data and problem reports, and reviews of process documentation. Clear guidelines should be established for what constitutes a risk, and all identified risks should be documented and maintained in a risk register.

In addition to brainstorming sessions and historical data analysis, other tools such as FMEA, hazard identification, or process hazard analysis can be implemented for a systematic approach. Expert opinions and predictive models can also be used. A successful process should also involve reassessing the risk landscape periodically and after any significant changes. Changes requiring revalidation are a notable trigger to update risk profiles.

A robust biopharmaceutical QRM system recognizes that the process of risk identification is continuous and dynamic, adjusting to changes in procedures, equipment, materials, and the overall business environment. It also considers both internal and external sources of risk.

After identifying risks, it is crucial to evaluate them in terms of their potential impact on product quality and the probability of their occurrence. This allows the company to prioritize its risk management efforts.

Risk assessment usually involves qualitative or quantitative methods. Qualitative methods might include rating risks on a scale from low to high, whereas quantitative methods might involve statistical analysis or simulation. Risk assessment is about creating an informed understanding of the risk and considering the severity of the impact, the likelihood of occurrence, and the detectability of the risk. This aids in prioritizing resources and efforts for risk control.

The process should include risk ranking or scoring systems that can objectively evaluate and compare different risks. Detailed risk maps or matrices can be created to visualize the risk landscape. Risk assessments should be periodically reviewed and updated, especially when new information becomes available.

This step involves deciding on and implementing measures to mitigate the identified risks. Without this step, the risk management process would be incomplete. Risk control involves not only mitigating risks but also deciding whether to accept, transfer, or avoid certain risks. Risk control measures should be proportional to the significance of the risk.

Risk control could involve anything from making changes to the manufacturing process to training employees in new procedures. A key part of this step is documenting the control measures and monitoring their effectiveness over time. After devising risk control measures, a pilot test can be conducted for complex or high-stake measures to ensure their effectiveness before full-scale implementation. The measures should also be reviewed and updated regularly, and particularly after any significant incidents.

Communication and Consultation

Effective communication ensures all relevant stakeholders are aware of the risks and the steps being taken to control them. This not only fosters a culture of risk awareness, but also ensures risk management efforts are coordinated across the organization. Effective communication promotes a shared understanding of risks, risk management practices, and individual roles and responsibilities in managing risk. It should involve all levels of the organization, as well as external stakeholders when appropriate.

This could involve regular meetings, reports, or automated notifications. The key is to ensure that the right information reaches the right people at the right time. The communication process should be a two-way street, allowing feedback from all stakeholders. In addition to meetings and reports, knowledge management systems or collaboration platforms could be used to facilitate communication. Clear protocols should be established for escalation of high-priority risks.

Continuous Monitoring and Review

The risk landscape can change over time, with new risks emerging and old ones disappearing or changing in severity. Continuous monitoring and review ensure that a QRM system stays relevant and effective. Incorporating accurate trend data based on regulatory activity provides an additional level of input elevating the effectiveness of risk management activities.

This can involve regular risk assessments, audits, and reviews of risk control measures. Any changes should be documented and communicated to relevant stakeholders. Monitoring and review processes should include the risks themselves and the effectiveness of the QRM system, changes in context, and the identification of emerging risks.

Risk Management Integration

Risk management should be an integral part of all organizational processes—not a separate activity. This ensures risk considerations are a part of all decisions, rather than being an afterthought. Integrating risk management with other business processes ensures risk management is proactive rather than reactive. It allows risks to be addressed before they can cause problems.

This could involve incorporating risk management into existing process documentation, training employees on risk management, or establishing a risk management committee. This could involve the use of integrated management systems or embedding risk management into standard operating procedures. Cross-functional teams or committees could be established to oversee the integration. Key performance indicators related to risk management should be established and monitored. Audits and reviews should be scheduled regularly and triggered by significant changes or incidents. Feedback from these activities should be used to drive continuous improvement.

Root Cause Analysis

Understanding the root cause of a problem allows for more effective risk management. It helps avoid merely treating the symptoms of a problem, which can lead to recurrence. The goal of root cause analysis is to prevent recurrence of problems by addressing their underlying causes, not just the symptoms. It allows for more efficient use of resources and improves process understanding.

Techniques such as the five whys and fishbone diagrams, among others, can be used to identify root causes. Once identified, these root causes should be addressed in the risk control measures. When conducting root cause analysis, it is important to ensure a blame-free environment where all ideas are considered. Tools such as Pareto charts could be used to prioritize root causes. Root cause prioritization may also reference regulatory trends based on current regulatory activity. Corrective and preventive actions should be devised to address the root causes.

Data-Driven Decision-Making

Decisions about risk management should be based on data, not on gut feelings or intuition. This leads to more objective and effective decisions. The use of data promotes objectivity, consistency, and efficiency in decision-making. It also allows for tracking and demonstrating the performance of the QRM system. An example of data-driven decision-making used by high-performing organizations uses available newsletters, visualizations, and trend tracking regulatory data to provide accurate insights to compliance risk.

This might involve collecting and analyzing data on process performance, product quality, and the effectiveness of risk control measures. Decision-making tools such as decision trees or Bayesian networks can also be used. An effective process should include not only collection and analysis of data, but also data management practices to ensure data integrity and usability. Advanced data analytics or artificial intelligence could be used for predictive risk modeling. Regulatory trends and current regulatory activity are also indicators providing insight into predictive risks of regulatory audits.

Quality Culture

A strong culture of quality fosters individual accountability, intrinsic motivation, and proactive behavior in managing risk and it ensures risk management is not the responsibility of just the quality department. Successful organizations building a strong culture of quality and compliance have notable focus and support from executive leadership. A successful quality culture can only succeed with outstanding support from organizational executives. The “tone at the top” significantly drives the performance and adherence of the organization to quality principles.

This could involve training, recognition programs, or changes to organizational structure. It is important to regularly assess the culture of quality and adjust as needed. Activities to foster a quality culture could include workshops, training sessions, recognition programs, and team-building activities. Regular culture assessments could be conducted through surveys or interviews and the findings used to inform culture improvement initiatives.

A robust biopharmaceutical QRM system recognizes that the process of risk identification is continuous and dynamic, adjusting to changes in procedures, equipment, materials, and the overall business environment.

Flexibility and Adaptability

As the organization and its external environment change, the QRM system needs to be able to adapt. A rigid system that cannot handle change will quickly become ineffective. A flexible and adaptable QRM system allows the organization to respond effectively to changes and challenges, turning them into opportunities rather than threats. It helps ensure the system’s resilience and long-term sustainability. Using data-driven metrics and tracking tools facilitates effective management of quality and compliance risk.

This can involve regular reviews of the QRM system and a process for making changes to it. Feedback from stakeholders should be actively sought and incorporated. Scenario analysis or stress testing could be used to evaluate and improve the system’s adaptability. A change management process should be established to handle changes in a systematic and controlled manner. Integral to a change management process should be the incorporation of risk assessment and evaluation relevant to any proposed changes.

Compliance with Regulations

Biopharmaceutical companies operate in a heavily regulated environment. Compliance with regulations avoids legal problems and ensures products are safe and effective. It also promotes trust and credibility among stakeholders, and it provides a baseline for risk management practices.

Compliance can be ensured by keeping up to date with regulatory changes, incorporating these changes into the QRM system, and regularly auditing for compliance. Regular training should be provided to keep staff current on regulatory requirements. Regulatory intelligence activities could be conducted to anticipate and prepare for upcoming changes.

Compliance checks should be integrated into the risk assessment and review processes. Additionally, compliance reports and newsletters summarizing regulatory activity provide valuable insight into risks and trends associated with regulatory compliance for life sciences. Further expanding compliance data to broader time horizons increases insights into longer-term trends and the value of current trends in a historical perspective.

Traceability and Documentation

Documentation provides evidence of the QRM system’s functioning. It also allows for traceability, which is crucial for root cause analysis and for demonstrating compliance with regulations. Proper documentation allows the team to preserve institutional knowledge, learn from past experiences, and demonstrate compliance. Traceability is crucial for investigating incidents, validating processes, and ensuring product quality.

Documentation should be maintained for all risk management activities, including risk identification, assessment, and control. It should be kept in a format that is easily accessible and understandable. Traceability can be maintained through unique identifiers for risks and control measures, and by linking related documents. A document management system could be used to manage and control documents. The system should support version control, approval processes, and easy retrieval of documents. Traceability could be maintained through traceability matrices or dedicated software systems.

An effective QRM system in biopharmaceutical manufacturing is multifaceted, involving the identification and assessment of potential risks, robust control mechanisms, effective communication strategies, and regular monitoring and review procedures. The QRM system should be flexible and adaptable, grounded in data-driven decision-making, and deeply integrated within the organization’s culture and processes. The risk management process, which includes risk identification and mitigation, is a cross-functional effort requiring participation from R&D, quality, and manufacturing, with metrics for monitoring and reporting process effectiveness to cross-functional leaders.

Organizations performing at elevated levels consistently demonstrate an ability to incorporate risk criteria into daily operations using various tools to evaluate risk according to product and patient impact. Compliance with regulations and maintaining detailed traceability and documentation are also of paramount importance. Although implementing such a comprehensive system can be complex, the benefits of ensuring product quality and safety, and ultimately patient health, are profound. The successful deployment of QRM necessitates a continual commitment to each of these characteristics, fostering a culture of quality that permeates every aspect of the organization.

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Case Studies Relating to Collaborations and Joint Ventures between Japanese and Foreign Companies in Japan companies Compiled

- Tips for enhancing management power through cooperation with foreign companies to achieve further growth -

April 24, 2024

The number of collaborations and joint ventures between Japanese and foreign companies in Japan has increased by approximately three time over the past ten years, and the transaction amount thereof has increased by approximately five times over the past ten years. The number of such transactions is at its highest level in the past 20 years. In light of this, the Ministry of Economy, Trade and Industry(METI)has prepared a research on "Case Studies relating to Collaborations and Joint Ventures between Japanese and Foreign Companies in Japan" as a reference upon the use of foreign capitals as one of the options to solve management issues and accelerate growth. 11 cases have been selected, which achieved innovations and overseas expansions as exemplified and responded to their corporate management issues. This is the first time that METI has compiled and published a comprehensive research of case studies on collaborations and joint ventures between Japanese and foreign companies with their actual company names, covering M&As, minority investments, and joint investments. The case studies contain cases that elucidate the significance of collaborations and joint ventures with foreign companies, approaches to making contacts with foreign companies, difficulties and devised efforts, and future visions, with an aim the case studies reflect more practical and implementable contents. METI wishes that a wide variety type of Japanese companies will make use of this case studies as a reference that will help these companies to choose collaborations and joint ventures with foreign companies as one of the options to solve management issues and accelerate growth.

1. Background

The number of collaborations and joint ventures between Japanese and foreign companies in Japan has increased by approximately three time over the past ten years, and the transaction amount thereof has increased approximately five times over the past ten years. The number of such transactions is at its highest level in the past 20 years.

Japanese companies that engage in collaborations and joint ventures with foreign companies are utilizing foreign companies’ global networks and know-hows, including but not limited to, to expand overseas sales channels, improve management such as the promotion of digital transformation (DX) and human capital management, and create innovations.

In recent years, the Japanese economy has been experiencing signs of a turning point, as seen in the highest volume of capital investments in the private sector and the highest wage increase in 30 years. In addition, the Japanese market is attracting more attention from the rest of the world based on the recognition of its geopolitical stability. METI considers it important for Japanese companies to take this opportunity to proactively accept foreign investments and strengthen their management power, which is a critical key to achieving sustainable corporate growth.

For the regional economy, METI also expects that this approach will contribute not only to creating new industries and employment that support regional areas but also to vitalizing such areas through enhanced supply chains.

Meanwhile, as some point out, Japanese companies are often psychologically resistant to foreign capital and are delayed in building internal management structure, and Japanese companies lag behind of their competitor foreign companies in other countries with respect to collaborations and joint ventures with foreign companies.

For this reason, METI has prepared research on "Case Studies relating to Collaborations and Joint Ventures between Japanese and Foreign Companies in Japan" as a reference upon the use of foreign capitals as one of the options to solve management issues and accelerate growth.

2. Outline of the Research

The Case Studies present 11 carefully selected cases of Japanese companies that have succeeded in effectively utilizing overseas capital to solve management issues and achieve corporate growth, including their acceptance of joint investments with foreign companies and minority investments from foreign companies. To provide the most practical contents possible, the case studies also outline the background, challenges, history, and purposes of Japanese companies’ collaborations and joint ventures with foreign companies as well as the process of collaboration(consolidation) and the results achieved after accepting such investments. It also presents Japanese companies’ efforts made to solve challenges, key points of success, and devised efforts in advancing collaborations and joint ventures, in a well-organized manner.

Major benefits brought about by collaborations and joint ventures

photo

3. Case Studies provided in the research

The Case Studies explains cases of not only large companies but also regional SMEs and startups.

4. Features of the Research

  • The Case Studies Relating to the Use of Inbound M&A Transactions, which METI released in April 2023, mainly features inbound M&A (majority investments), while the scope of the Case Studies has widely subjected to not only collaborations and joint ventures, but also options such as joint investment with foreign companies and acceptance of minority investment from foreign companies, aimed at responding to a wider range of needs for these transactions and making the content for more practical application.
  • The Case Studies consist of the cases that METI selected based on the consideration of a balance of industries, regions, and corporate sizes and of nationalities of foreign companies.
  • All of these cases are disclosed with their company names.
  • It presents indexes that will help companies to retrieve case studies based on the target benefits that they are interested in (e.g., creation of new business models and innovation).
  • It presents efforts that successful companies made, ranging from the background to their utilization of foreign capital, to the processes that led to business growth after collaborations and joint ventures, together with the opinions of stakeholders. It is designed as a practical collection, referring to not only the positive aspects of collaborations and joint ventures with foreign companies, but also specific difficulties and devised efforts.

5. An Online Briefing to explain the research (May 27, 2024)

METI and the Research Institute of Economy, Trade and Industry (RIETI) will jointly hold an online briefing to explain the Case Studies, including explanations on the outline of the collection, lectures on collaborations and joint ventures, and an introduction of Case Studies of successful companies shown in the collection.

If you wish to learn the details of the briefing and how to view it, visit the RIETI website below.

  • Date and time: Monday, May 27, 2024; from 12:15 to 13:15 (tentative)
  • Format of the briefing: Online (live broadcast; free of charge)
  • For information on how to view the briefing and the related details, visit this link .

Related Material

Related links.

  • Case Studies relating to Collaborations and Joint Ventures between Japanese and Foreign Companies in Japan (webpage exclusively for the Case Studies)

Note: An English version will be available on the above web page at a later date.

  • The Study Group for Collaboration and Joint Venture Cases Between Japanese and Foreign Companies

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    Case Study Research & Development (CRDT) | December 19, 2017. We generated a list of the 40 most popular Yale School of Management case studies in 2017 by combining data from our publishers, Google analytics, and other measures of interest and adoption. In compiling the list, we gave additional weight to usage outside Yale. We generated a list ...

  7. PDF Case Studies in Strategic Management

    case studies, we explain our purpose in a case study format. The following chapter presents the case and explains the path to the approach in detail, elaborating on the experience gathered from 90 cases. It also contains students'reactions and feedback to this format, which has so far been extremely encouraging and convinced us of the

  8. Strategic Management: Text and Cases

    Strategic Management: Text and Cases,written by authors Dess, McNamara, Eisner, and Sauerwald continues itstradition of being readable, relevant, and rigorous.Its engaging writing styleminimizes jargon to maximize readability. It provides examples frommanagement practice and societal themes including environmental sustainability,ethics, globalization, entrepreneurship, and data analytics to ...

  9. Strategy Case Studies

    The mission of the MIT Sloan School of Management is to develop principled, innovative leaders who improve the world and to generate ideas that advance management practice. Find Us MIT Sloan School of Management 100 Main Street Cambridge, MA 02142 617-253-1000

  10. Case Studies in Strategic Management [Book]

    Title: Case Studies in Strategic Management. Author (s): Sanjay Mohapatra. Release date: June 2011. Publisher (s): Pearson India. ISBN: 9788131759844. Through handpicked cases from a variety of areas and business houses, this book illustrates how strategic management can be used to achieve better operational performance and strengthen their ...

  11. PDF Strategic Analysis Of Starbucks Corporation

    Its other core competence is its human resource management's values-based approach for building very strong internal and external relationships with suppliers, which drives the ... Starbucks has stores in some of the most prime and strategic location across the globe. They target premium, high-traffic, high-visibility locations near a variety ...

  12. PDF 15e Guide to Case Analysis

    Each managerial situation has unique aspects, requiring its own diagnosis, judgment, and tailor-made actions. Cases provide would-be managers with a valuable way to practice wrestling with the actual problems of actual managers in actual companies. The case approach to strategic analysis is, fi rst and foremost, an exercise in learning by doing.

  13. Business Strategy: Articles, Research, & Case Studies on Business

    Dynamic pricing is widely applied in industries like airline ticketing, ride-sharing, and online retailing. This paper identifies two downsides of dynamic pricing: opportunistic returns and strategic choice of payment method. The impact can be significant and has implications for managers and researchers. 31 May 2017.

  14. Strategic Management: Concepts and Cases, 4th Edition

    Students enjoy the concise and approachable style of Strategic Management: Concepts and Cases, 4e. Written in an accessible Harvard Business Review style with lots of practical examples and strategy tools, this course engages students with an easy-to-understand learning experience to strategic management concepts that will help students succeed in todays workplace. The newest edition of ...

  15. PDF STRATEGIC MANAGEMENT Concepts and Cases

    Steps to Develop an EFE Matrix 79 • Step 1: Develop a Full and Narrow List of Key External Factors 79 • Step 2: Assign Weights to Key External Factors 80 • Step 3: Assign Ratings to Key External Factors 80 • Step 4: Obtain Weighted Scores80 • Step 5: Obtain Total Weighted Score 80 • An Example EFE Matrix Test81.

  16. Nike Strategic Management: The Case Study

    Introduction. Nike Inc. is an international company based in the United States, which deals with sportswear and other apparels. The company is ranked as the top seller of sports shoe and clothing. Nike was started in 1964 by Bill Bowerman and was originally called Blue Ribbon Sports, but was later changed to Nike in 1978.

  17. Case Studies: How Companies Are Succeeding With Strategic ...

    This strategic operation not only boosted profitability but also strengthened their reputation in the market. Case Study 3: HealthCare Plus - Enhancing Patient Experience. HealthCare Plus, a ...

  18. What Passes as a Rigorous Case Study?

    theory have provided the strategic management field with ground-breaking insights (e.g., Penrose, 1960; Chandler, 1962; Pettigrew, 1973; Burgel-man, 1983). Despite this, the case study method ... and they deal with real management situations. Case studies therefore represent a methodology that is ideally suited to creating managerially rel ...

  19. Strategic Management: Text and Cases

    This version includes the all the text and 38 cases. Get real-world support and resources every step of the way. Get the 10th Edition of Strategic Management: Text and Cases by Gregory Dess, Gerry McNamara, Alan Eisner, Seung-Hyun Lee and G.T. (Tom) Lumpkin Textbook, eBook, and other options. ISBN 9781260075083.

  20. Business Strategy Management Case Studies

    Representing a broad range of management subjects, the ICMR Case Collection provides teachers, corporate trainers, and management professionals with a variety of teaching and reference material. The collection consists of Business Strategy case studies and research reports on a wide range of companies and industries - both Indian and international, cases won awards in varies competitions, EFMD ...

  21. Strategic Management Case Studies Mg

    Strategic Management Case Studies Mg. Mott MacDonald is a global management and engineering consultancy firm with over 13,000 employees working on projects in 120 countries. The company aims to provide customer satisfaction through professional excellence, commercial success, and employee fulfillment, as stated in its mission.

  22. Case Solutions for Strategic Management

    Strategic Management Project Module 1. To give students practical insight into the strategic management process, this book provides a series of strategic modules; one is at the end of every chapter. Each module asks students to collect and analyze information relating to the material discussed in that chapter.

  23. Strategic Management Case Studies 4th Sem MBA

    Strategic management case studies 4th sem MBA - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. Strategic management case studies for MBA

  24. Strategic Operations Management: MBHE Case Study & Servitisation

    Advanced Project Management Formative Assessment 1 (Case Study) Questions. S.1.pdf. MANCOSA (Pty) Ltd - Johannesburg. MANAGEMENT OPERATIONS. 12094005-Thapelo-Moloto-TRL4861. ... View strategic management Apple Inc.docx from MGMT E-5000 at Harvard University. MGT604... 21512 Essay1 2015 Sample 1.pdf. University of Technology Sydney.

  25. Quality Risk Management for Biopharmaceuticals

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  26. Case Studies Relating to Collaborations and Joint ...

    The Case Studies present 11 carefully selected cases of Japanese companies that have succeeded in effectively utilizing overseas capital to solve management issues and achieve corporate growth, including their acceptance of joint investments with foreign companies and minority investments from foreign companies.