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Entrepreneurship

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published: 31 Aug 2018

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Abstract:
Grab, Uber and Go-Jek compete in ride-hailing and related logistics and transport services (e.g., food delivery, courier service) across Southeast Asia, including Indonesia, Philippines, Vietnam, Thailand, Malaysia and Singapore. The case focuses on differences in company history and strategy, and how they influence shape the competition and ultimately performance differentials. The goal is to illustrate the dynamics of platform-based competition across a region. Issues covered include network effects, achieving scale, one-country focus versus expansion in an interconnected region, technological standardization versus localization, mutual forbearance and real options across product features and market geographies, and how equity ownership and control drive consolidation in platform ecosystems.

Pedagogical Objectives:
The case offers lessons in digital entrepreneurship, platform competition, network effects, internationalization strategy, technology standards, mutual forbearance, real options, market consolidation, and equity ownership and control.

Keywords:
Digital Entrepreneurship, Platforms, Competition, Network Effects, Mutual Forebearance, Real Options, Ride-Sharing, Ride-Hailing, Two-Sided Market, Southeast Asia, Indonesia, Singapore, Malaysia, Uber, Grab, Go-Jek

published: 30 Jul 2018

  • Topic: Entrepreneurship
  • Region: Asia

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Abstract:
The case tells the story behind “My INSEAD Story” – a unique book for children based on the INSEAD MBA experience of their parents. Sian Bentson and Ankur Grover came up with the idea as part of their final assignment for the “SPSD: Creative Thinking” course. It subsequently became the basis of a commercial product and, ultimately, a company, StoryPie (storypie.co) – which creates storybooks from the personal experiences of parents. Ankur Grover shares the behind-the-scenes journey, describing the rollercoaster ride from concept development to product launch. The case explains how innovation projects (even for simple products) are carried out – from gathering user insights to ideation, prototyping, and testing – and the sources of uncertainty that a project leader has to manage during the innovation journey. There are two versions of the case. Part 1 describes the product conceptualization as part of a 10-day course assignment. The complete version covers the journey over the two months that followed the course to develop it into a commercial product.

Pedagogical Objectives:
. Understanding and appreciating how innovation is enabled in a process-driven manner . Comprehending and analyzing the challenges of managing an entrepreneurial/innovative project . Evaluating business opportunities and identifying appropriate business models to go with them

Keywords:
Innovation, Entrepreneurship, Design Thinking, Lean Startup

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published: 30 Jul 2018

  • Topic: Entrepreneurship
  • Region: Asia

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Abstract:
The case tells the story behind “My INSEAD Story” – a unique book for children based on the INSEAD MBA experience of their parents. Sian Bentson and Ankur Grover came up with the idea as part of their final assignment for the “SPSD: Creative Thinking” course. It subsequently became the basis of a commercial product and, ultimately, a company, StoryPie (storypie.co) – which creates storybooks from the personal experiences of parents. Ankur Grover shares the behind-the-scenes journey, describing the rollercoaster ride from concept development to product launch. The case explains how innovation projects (even for simple products) are carried out – from gathering user insights to ideation, prototyping, and testing – and the sources of uncertainty that a project leader has to manage during the innovation journey. There are two versions of the case. Part 1 describes the product conceptualization as part of a 10-day course assignment. The complete version covers the journey over the two months that followed the course to develop it into a commercial product.

Pedagogical Objectives:
. Understanding and appreciating how innovation is enabled in a process-driven manner . Comprehending and analyzing the challenges of managing an entrepreneurial/innovative project . Evaluating business opportunities and identifying appropriate business models to go with them

Keywords:
Innovation, Entrepreneurship, Design Thinking, Lean Startup

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published: 23 Apr 2018

  • Topic: Entrepreneurship
  • Industry: Digital Platform, Mobile Application, Logistics, Ride-Sharing, Food Delivery
  • Region: Asia
  • Website: https://cases.insead.edu/go-jek

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Abstract:
Read a related Knowledge article "Digital Lessons from Go-Jek, Indonesia’s Answer to Uber and Grab" by Jason Davis.

Go-Jek, a ride-sharing, food-delivery and logistics company, was the first ‘unicorn’ startup (private company valued over $1 billion) to be founded in Indonesia. Case (A) focuses on the launch of Go-Jek as a mobile ride-sharing and food delivery platform, the network effects, and the digital disruption of existing taxi drivers. Case (B) describes the competition with digital entrants Uber and Grab and with incumbent taxi companies, and its use of funds from Sequoia, Rakuten, KKR, Temasek, Tencent, and Google to compete. Case (C) explores Go-Jek’s product experimentation in financial services with the Go-Pay wallet, potential international expansion and the ultimate goal to achieve 'super app' status (like Alipay and Wechat in China) in Southeast Asia.
Please visit the dedicated case website to access supplementary material.

Pedagogical Objectives:
This case series offers lessons in digital entrepreneurship, launching platforms, network effects, platform competition, product experimentation, internationalization by start-ups, and diversification to become a 'super app'.

Keywords:
Digital Entrepreneurship, Platforms, Network Effects, Experimentation, Ride-Sharing, Transportation and Logistics, Lean Startup, Two-Sided Market, Indonesia, Southeast Asia, Singapore

Related:

published: 23 Apr 2018

  • Topic: Entrepreneurship
  • Industry: Digital Platform, Mobile Application, Logistics, Ride-Sharing, Food Delivery
  • Region: Asia
  • Website: https://cases.insead.edu/go-jek

Show details ...

Abstract:
Read a related Knowledge article "Digital Lessons from Go-Jek, Indonesia’s Answer to Uber and Grab" by Jason Davis.

Go-Jek, a ride-sharing, food-delivery and logistics company, was the first ‘unicorn’ startup (private company valued over $1 billion) to be founded in Indonesia. Case (A) focuses on the launch of Go-Jek as a mobile ride-sharing and food delivery platform, the network effects, and the digital disruption of existing taxi drivers. Case (B) describes the competition with digital entrants Uber and Grab and with incumbent taxi companies, and its use of funds from Sequoia, Rakuten, KKR, Temasek, Tencent, and Google to compete. Case (C) explores Go-Jek’s product experimentation in financial services with the Go-Pay wallet, potential international expansion and the ultimate goal to achieve 'super app' status (like Alipay and Wechat in China) in Southeast Asia.
Please visit the dedicated case website to access supplementary material.

Pedagogical Objectives:
This case series offers lessons in digital entrepreneurship, launching platforms, network effects, platform competition, product experimentation, internationalization by start-ups, and diversification to become a 'super app'.

Keywords:
Digital Entrepreneurship, Platforms, Network Effects, Experimentation, Ride-Sharing, Transportation and Logistics, Lean Startup, Two-Sided Market, Indonesia, Southeast Asia, Singapore

Related:

published: 23 Apr 2018

  • Topic: Entrepreneurship
  • Industry: Digital Platform, Mobile Application, Logistics, Ride-Sharing, Food Delivery
  • Region: Asia
  • Website: https://cases.insead.edu/go-jek

Show details ...

Abstract:
Read a related Knowledge article "Digital Lessons from Go-Jek, Indonesia’s Answer to Uber and Grab" by Jason Davis.

Go-Jek, a ride-sharing, food-delivery and logistics company, was the first ‘unicorn’ startup (private company valued over $1 billion) to be founded in Indonesia. Case (A) focuses on the launch of Go-Jek as a mobile ride-sharing and food delivery platform, the network effects, and the digital disruption of existing taxi drivers. Case (B) describes the competition with digital entrants Uber and Grab and with incumbent taxi companies, and its use of funds from Sequoia, Rakuten, KKR, Temasek, Tencent, and Google to compete. Case (C) explores Go-Jek’s product experimentation in financial services with the Go-Pay wallet, potential international expansion and the ultimate goal to achieve 'super app' status (like Alipay and Wechat in China) in Southeast Asia.
Please visit the dedicated case website to access supplementary material.

Pedagogical Objectives:
This case series offers lessons in digital entrepreneurship, launching platforms, network effects, platform competition, product experimentation, internationalization by start-ups, and diversification to become a 'super app'.

Keywords:
Digital Entrepreneurship, Platforms, Network Effects, Experimentation, Ride-Sharing, Transportation and Logistics, Lean Startup, Two-Sided Market, Indonesia, Southeast Asia, Singapore

Related:

published: 15 Dec 2017

  • Topic: Entrepreneurship
  • Industry: Local and Suburban Passenger Transportation
  • Region: Middle-East

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Abstract:
Careem, a Dubai-based ride-hailing company, was founded in 2012 in the United Arab Emirates (UAE) by two ex-McKinsey consultants who saw a gap in the transport market. Started as a web-based car booking service for corporate clients, Careem had evolved into a leading application-based booking service in the Middle East and North Africa (MENA) region, with a differentiated business model tailored to the tastes and preferences of Middle Eastern consumers. Fuelled by venture capital funding rounds in September 2013 and December 2014, Careem was again on the fundraising trail in 2015 for a Series C investment round to further scale its existing business and continue its roll-out across MENA. The Abraaj Group, a leading emerging markets private equity investor, was interested, but with Uber competing fiercely in the MENA region, it had to decide whether Careem could compete with its well-funded global competitor.

Pedagogical Objectives:
This case helps students understand: • The evolution of a successful start-up, from concept to funding to scaling. • The challenges faced by operators of early-stage companies and the key questions and metrics considered by investors in early-stage companies. • The convergence of traditional venture capital and private equity roles in the late-stage venture capital market. • How private equity investors add value to their portfolio companies and differentiate themselves in the market. • How global business models in the “new economy” can be modified and refined to suit consumer preferences and provide a competitive advantage in emerging markets.

Keywords:
Ride-Hailing, Mena, Smart Devices, Digital Disruption, Smart Apps, Uber, Start-Up, Private Equity

published: 28 Aug 2017

  • Topic: Entrepreneurship
  • Industry: Private Equity
  • Region: Europe

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Abstract:
In May 2012, private equity firm KKR is considering the buyout of WMF group (WMF), a diversified kitchenware and professional coffee machine manufacturer headquartered in Geislingen, Germany. The deal seems a potentially compelling investment opportunity, with various options for value creation – expanding WMF’s well-established brand to other geographies as well as reducing costs. Priorities must be set, however, to generate an attractive return by the end of the investment period. The deal team has to decide which business segments are worth putting more resources into and which to divest, which brands should be kept and which to trim off, and how to take up any operational slack without affecting the overall strategy.

Pedagogical Objectives:
This case emphasizes private equity firms’ focus on operational value creation in a large buyout, in particular the process of analysing the potential for returns by improving operations in the target company. This differs from classic studies on takeovers based purely on financial metrics. Presenting a concrete example of the potential for PE to improve the competitive positioning, operations and culture of a portfolio company, the case provides an inside view of the way deal teams evaluate potential acquisitions. It also shows the challenges posed by the target company’s capital structure that must be addressed, and how this affects the potential for value creation.

Keywords:
Private Equity, Buyout, Lbo, Operational Value Creation, Retail, E-Commerce, Growth Strategy, Europe, Germany

published: 28 Aug 2017

  • Topic: Entrepreneurship
  • Industry: Transportation
  • Region: Europe

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Abstract:
RAPID, a private company with complex ownership and nontransparent management systems, faces challenges associated with fast growth and an archaic governance structure. The founders of the company recognize the challenges, but lack knowledge and experience to deal with them. Specifically, they are about to discuss replacement of the CEO and reorganization of their governance system. The system of corporate governance which has emerged at RAPID represents a strange mix of some contemporary practices such as a separation of chairman and CEO roles, and independent audit, family traditions, and an informal entrepreneurial approach. The case recounts the different approaches the RAPID founders explored in approaching the CEO succession and governance reform, and shows how their thinking process evolved and what decisions they made at different stages of the change process.

Pedagogical Objectives:
The pedagogical objective is to give students the opportunity to see the real situation in managing a family business, the challenges such a firm faces, and possible ways to deal with them. Moreover, the case study allows students to see how local companies in emerging markets enter the global world, how such growth affects the culture and the management system inside the organization, and how challenging it is for successful first-generation entrepreneurs to adapt and to switch to a different, international corporate and financial strategy.

Keywords:
Corporate Governance, Management, Board of Directors, Family Business, Ceo Succession, Entrepreneurship, Founder, Russia, Corporate Governance, Board Process and Remuneration at the Top

published: 28 Aug 2017

  • Topic: Entrepreneurship
  • Industry: Fashion
  • Region: Europe

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Abstract:
This case illustrates solutions to a) the vexing problem of how to stop counterfeit luxury goods from being sold on the Internet; and b) the larger issue of how to sell lots of pre-owned personal luxury goods without fear of undermining their lofty prices. When the “fake luxury goods” problem first appeared in the mid-2000s, brands like L’Oreal, Hermès and Tiffany responded by taking one of the biggest online marketplaces, eBay, to court. The big brands won millions in damages and dragged eBay’s name through the mud for years to come. But on the sidelines were three different sets of entrepreneurs, almost all French, who saw in this scandal the opportunity of a lifetime. Separately they launched three competing digital platforms where pre-owned luxury products can be bought and sold on the condition that they are fully authenticated by experts. While all three are still in business, the company that started with six co-founders has been the most successful. This case examines the role of all six people and why eight years later the two “techies” were able to leave the company on good terms.

Pedagogical Objectives:
The case can be taught in executive education and elective MBA courses in luxury management, organizational behavior and entrepreneurship. With the case, instructors can focus on a wide range of issues related to both the sourcing and distribution of second-hand personal luxury goods within a global market. When sellers first offer goods for sale on the Vestiaire Collective platform, curators take them through a number of steps to ensure that the products are suitable for inclusion in the catalogue. Matching supply with demand is a key variable of success in this business, since fashion products have an especially unique set of characteristics that vary from one region to another, from one designer to another and from one epoch to another. Once a purchase is concluded, curators then ascertain if the actual product conforms to the seller’s description and is a genuine item. Creating trust among customers is also an absolute necessity in this business. In sum, instructors can use the case to discuss the essentials of business and management in an easily accessible setting.

Keywords:
Digital Platforms, E-Commerce, Fashion, Product Certification, Authentic Goods, Counterfeit Goods, Personal Luxury Goods, Premium Designer Clothes, Vintage Clothes, Curation, Concierge Service, Videdressing, Vestiaire Collective, Instantluxe

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