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Case Studies by Randel Carlock

43 case studies

by Publication Date
published: 28 May 2018

  • Topic: Family Business
  • Region: North America

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Abstract:
This is not your typical family business case and that is what makes it such a rich teaching tool and learning experience. The Paul Newman story covers several family business topics and issues including Fair Process, philanthropy, social ventures, estate and succession planning, governance, next generation roles, entrepreneurship, family communication and relationships, and non-family executives. The sense of fairness is achieved with effective family communication and governance that builds trust to support long-term family commitment. The Newman case demonstrates the difficulty of making ownership, governance and leadership decisions that are effective and perceived as fair by the next generation.

Pedagogical Objectives:
Fair Process is at the core of INSEAD’s work with business families. The sense of fairness is achieved with effective family and business communication and governance that builds trust and supports long-term family commitment. The Newman case deals with the difficulty of making leadership and ownership decisions that are perceived as fair by a business family.

Keywords:
Fair Process, Social Ventures, Planning, Next Generation Leadership, Communication, Non-Family Executives, Estate Planning, Difficult Conversations, Entrepreneurship, Next Generation Commitment, Family Relationships, Next Generation Careers

published: 28 Oct 2016

  • Topic: Family Business
  • Industry: Eyeglasses
  • Region: Global

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Abstract:
This three-part case study explores the development of Adlens, a commercial firm, and Vision for a Nation as the social venture developed in parallel. The entrepreneur’s strategy is to sell the innovative Adlens optical products in middle-to-high income economies for profit, while Vision for a Nation is dedicated to improving vision in the developing world, starting with Rwanda. A key synergy comes from the “Buy one, give one” model, whereby for every pair of Adlens glasses purchased, another pair (adjustable or traditional glasses) is given away for free in Rwanda. Developing Adlens and Vision for a Nation as viable ventures has been not been an easy task. Despite the vast amount of time and money James Chen has invested in these projects, their long-term sustainability has yet to be demonstrated. But as an investor of ‘patient capital’, he sees beyond the logic of short-term profit making.

Read a related Knowledge article "Entrepreneurship Lessons from a Family Venture Philanthropist" by Randel Carlock.

Pedagogical Objectives:
. Apply entrepreneurship behaviors as an approach to strategy and leadership . Identify the relationship and tasks of the different forms of entrepreneurship . Understand potential strategic synergies between social enterprises and moneymaking ventures . Analyze investment horizons and the sunk cost dilemma in a new venture . Appreciate the career opportunities created by philanthropic ventures and family offices beyond working in the family business . Understand the importance of patient investment capital and the family legacy for philanthropic and social ventures

Keywords:
Social Entrepreneurship, New Ventures, Disruptive Technologies, Africa, Family Business, Family Enterprise, Start-Up, Venture Investing, Wicfe, Education, Entrepreneurship, Leadership, Social Entrepreneurship, Impact Investing, Philanthropy

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published: 28 Oct 2016

  • Topic: Family Business
  • Industry: Eyeglasses
  • Region: Global

Show details ...

Abstract:
This three-part case study explores the development of Adlens, a commercial firm, and Vision for a Nation as the social venture developed in parallel. The entrepreneur’s strategy is to sell the innovative Adlens optical products in middle-to-high income economies for profit, while Vision for a Nation is dedicated to improving vision in the developing world, starting with Rwanda. A key synergy comes from the “Buy one, give one” model, whereby for every pair of Adlens glasses purchased, another pair (adjustable or traditional glasses) is given away for free in Rwanda. Developing Adlens and Vision for a Nation as viable ventures has been not been an easy task. Despite the vast amount of time and money James Chen has invested in these projects, their long-term sustainability has yet to be demonstrated. But as an investor of ‘patient capital’, he sees beyond the logic of short-term profit making.

Read a related Knowledge article "Entrepreneurship Lessons from a Family Venture Philanthropist" by Randel Carlock.

Pedagogical Objectives:
. Apply entrepreneurship behaviors as an approach to strategy and leadership . Identify the relationship and tasks of the different forms of entrepreneurship . Understand potential strategic synergies between social enterprises and moneymaking ventures . Analyze investment horizons and the sunk cost dilemma in a new venture . Appreciate the career opportunities created by philanthropic ventures and family offices beyond working in the family business . Understand the importance of patient investment capital and the family legacy for philanthropic and social ventures

Keywords:
Social Entrepreneurship, New Ventures, Disruptive Technologies, Africa, Family Business, Family Enterprise, Start-Up, Venture Investing, Wicfe, Education, Entrepreneurship, Leadership, Social Entrepreneurship, Impact Investing, Philanthropy

Related:

published: 28 Oct 2016

  • Topic: Family Business
  • Industry: Eyeglasses
  • Region: Global

Show details ...

Abstract:
This three-part case study explores the development of Adlens, a commercial firm, and Vision for a Nation as the social venture developed in parallel. The entrepreneur’s strategy is to sell the innovative Adlens optical products in middle-to-high income economies for profit, while Vision for a Nation is dedicated to improving vision in the developing world, starting with Rwanda. A key synergy comes from the “Buy one, give one” model, whereby for every pair of Adlens glasses purchased, another pair (adjustable or traditional glasses) is given away for free in Rwanda. Developing Adlens and Vision for a Nation as viable ventures has been not been an easy task. Despite the vast amount of time and money James Chen has invested in these projects, their long-term sustainability has yet to be demonstrated. But as an investor of ‘patient capital’, he sees beyond the logic of short-term profit making.

Read a related Knowledge article "Entrepreneurship Lessons from a Family Venture Philanthropist" by Randel Carlock.

Pedagogical Objectives:
. Apply entrepreneurship behaviors as an approach to strategy and leadership . Identify the relationship and tasks of the different forms of entrepreneurship . Understand potential strategic synergies between social enterprises and moneymaking ventures . Analyze investment horizons and the sunk cost dilemma in a new venture . Appreciate the career opportunities created by philanthropic ventures and family offices beyond working in the family business . Understand the importance of patient investment capital and the family legacy for philanthropic and social ventures

Keywords:
Social Entrepreneurship, New Ventures, Disruptive Technologies, Africa, Family Business, Family Enterprise, Start-Up, Venture Investing, Wicfe, Education, Entrepreneurship, Leadership, Social Entrepreneurship, Impact Investing, Philanthropy

Related:

published: 22 Apr 2016

  • Topic: Family Business
  • Industry: Commodities
  • Region: North America

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Abstract:
Founded in 1865, Cargill one of the world's largest family businesses but has faced several challenges as it transitions from generation to generation. Business succession is complicated by the involvement of two families; the Cargills and their in-laws the MacMillans. A difficult transition to an in-law in the early 1900s eventually resulted in the Cargills losing control. However, the animosity between the two families focused their attention on building a vision based on shared values of entrepreneurship, fair play and a commitment to long-term family ownership.

Pedagogical Objectives:
This case explores family business role transitions and the challenges of family investment and liquidity. It also discusses the importance of managing beyond the family, the importance of entrepreneurial innovation, and effective communication in family businesses. Finally, it demonstrates the concept of stewardship as an ownership model.

Keywords:
Family Business Transitions, Family Investment, Stewardship, Non-Family Executives, Fair Process, Communication in Family Business, Succession Planning, Family Business Liquidity, Corporate Governance, Corporate Governance for Family Firms, Wicfe, Succession, Next Generation, Fair Process, Communication, Psychology, Gender, Governance, Parallel Planning, Strategy, Boards

published: 29 Jun 2015

  • Topic: Family Business
  • Region: Middle-East

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Abstract:
Growing family businesses need to create new governance structures to ensure the alignment of family expectations with the needs of the business, as well as accountability. As the family and business mature, and ownership/management functions are separated, the role of the family is increasingly one of governance. Alignment of family and business governance processes among family, owners and management is therefore an important family responsibility.

Pedagogical Objectives:
This case helps owners, management and boards appreciate the role of family and business governance in decision making and accountability. It also encourages business families to heed the challenges they face in planning and decision making. Family governance is much more complex than business governance because the structures and processes involved depend on the family’s values, characteristics, shared experiences and business situation.

Keywords:
Family Business, Next Generation, Board of Directors, Governance, Philanthropy

published: 29 Jun 2015

  • Topic: Entrepreneurship
  • Industry: Computer hardware/software and IT
  • Region: North America

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Abstract:
This governance simulation is a role-play between a powerful, charismatic chair-CEO and an equally powerful and demanding board of directors. The aim is to achieve the respective characters' goals and find the best possible and most workable outcome for all the stakeholders involved given the circumstances.

Pedagogical Objectives:
Participants gain a better understanding of the governance function by observing and experiencing how board relationships and dynamics influence the board's decisions and actions. They are challenged to discusss and resolve issues faced by the HP board of directors as they assess the performance of the business and its leader.

Keywords:
Acquisition, Decision Making, Board Governance, Tough Leadership, Merger, Personality Conflicts, Strategic Direction, Abrasive Leadership

published: 29 Jun 2015

  • Topic: Strategy
  • Industry: Oil and Gas
  • Region: Asia

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Abstract:
The Petro case deals with the difficulty of making decisions when organizational structures impede the possibility of improving overall efficiency within the organization. It shows how a conflict of interest between two divisions adds to the challenge of influencing the key decision makers.

Pedagogical Objectives:
To highlight common issues faced by general management, particularly the lack of authority of less popular managers when a conflict of interest arises within a subdivision of an organization.

Keywords:
Decision Making, Conflict of Interest, Proposal Negotiation, Process Efficiency, Leadership, Influencing, Perceived Credibility, Subdivision

published: 28 Apr 2014

  • Topic: Family Business
  • Region: Global

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Abstract:
Studying or practicing? Being an entrepreneur or a manager? Working for the family business or not? How much should business-owning families support their young? The Trusted Family case discusses some fundamental dilemmas of next-generation family business members. It follows two young family entrepreneurs who launch their own company, a social media platform for other family businesses, thus finding not only a new way of working with the family business, but also how to leverage it.

Pedagogical Objectives:
1) Discussing career options for next-generation members, understanding the value of making one's own choices, understanding one's own position in a family business. 2) Discussing the pros and cons of providing support to a business as a parent and of the intergenerational dialogue. 3) Demonstrating the stages of entrepreneurship from opportunity recognition to professionalization and the role of the entrepreneurial team.

Keywords:
Family Business, Startup, Career Planning, Next Generation, Social Media, Parent Generation, Entrepreneurial Teams, Professionalization

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published: 28 Apr 2014

  • Topic: Family Business
  • Region: Global

Show details ...

Abstract:
Studying or practicing? Being an entrepreneur or a manager? Working for the family business or not? How much should business-owning families support their young? The Trusted Family case discusses some fundamental dilemmas of next-generation family business members. It follows two young family entrepreneurs who launch their own company, a social media platform for other family businesses, thus finding not only a new way of working with the family business, but also how to leverage it.

Pedagogical Objectives:
1) Discussing career options for next-generation members, understanding the value of making one's own choices, understanding one's own position in a family business. 2) Discussing the pros and cons of providing support to a business as a parent and of the intergenerational dialogue. 3) Demonstrating the stages of entrepreneurship from opportunity recognition to professionalization and the role of the entrepreneurial team.

Keywords:
Family Business, Startup, Career Planning, Next Generation, Social Media, Parent Generation, Entrepreneurial Teams, Professionalization

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