Editorial

Welcome to the first issue of 2024. This year, we will continue our tradition of encouraging the adoption of the case method pedagogy by publishing high-quality teaching cases in management sciences. We are pleased to present a diverse selection of compelling cases that embody the essence of experiential learning in management education. These cases shed light on various factors such as corporate governance, marketing management, strategic marketing, product management, entrepreneurial finance, growth strategies in an emerging market and the impact of the pandemic on valuation variables. Through engaging narratives, thought-provoking dilemmas and in-depth analyses, these cases immerse students in the complexities and intricacies of managerial decision-making.

The first case of this issue explores the entrepreneurial journey of a dairy business owner, providing a nuanced perspective on the dynamics of the Pakistani dairy market. ‘Capital Dairy: Buffalo vs. Cow Decision’, authored by Hassan Chaudhry and Syed Zain ul Abidin, offers insights into SME-level dairy business dynamics, medium-sized dairy farm management, challenges in yield management and financial intricacies. The students will develop an understanding of SME-level dairy business dynamics, insights into the management of a medium-sized dairy farm, recognition of challenges in yield management and comprehension of the financial intricacies that necessitate periodic investments in assets. This case is well-suited for undergraduate and graduate, as well as agribusiness courses.

The case, ‘IndiGo: Cruising in Market but Crashing Within’, by Reeti Kulshrestha, Arunaditya Sahay and Subhanjan Sengupta, focuses on the tumultuous situation at IndiGo, a once-prominent airline in India, facing internal strife and corporate governance challenges, triggered by the departure of Aditya Ghosh. This event led to public disputes between co-founders Rakesh Gangwal and Rahul Bhatia, prompting a SEBI investigation into governance lapses. Chairman Damodaran faces the intricate task of restoring effective governance and reconciling the warring factions. The case offers students valuable insights into corporate governance, aligning with Bloom’s Taxonomy to address learning objectives such as information recall, application in devising governance strategies, analysis of constituent parts and evaluation of governance standards.

In the third case of this issue, ‘Macrantha Sealant: A Positioning Strategy’, Shraddha Purandare highlights the dilemma faced by an entrepreneur in promoting and positioning a product in the Indian sealant market. Recognizing the vast potential in the market, the entrepreneur faces challenges in targeting the appropriate segment. The case serves as a valuable tool for discussions on promotion and positioning strategy analysis, highlighting the importance of strategic thinking and the potential risks if proper strategies are not implemented. Suitable for courses in marketing management, strategic marketing and product management, the case emphasizes the relevance of understanding segmentation, targeting and positioning. Students are prompted to assess the challenges associated with promoting and positioning a product during its launch, making it a valuable tool for strategic and product management education.

The case, ‘EDSAI Education: Start-up Valuation Amidst nCOVID-19’, focuses on business valuation, exploring the challenges faced by a young EdTech firm in choosing between opportunities arising from the COVID-19 pandemic. Students are challenged to apply the venture capital model, discounted cash flow model and relative valuation model to estimate the cost of equity using the capital asset pricing model. EDSAI’s founder, Amit Mathur, must choose between market expansion and product expansion opportunities, seeking a timely resolution for a strategic investment meeting with investors. The case is designed for business valuation courses in MBA, postgraduate and executive programmes as well as equity valuation modules in professional certifications and entrepreneurial finance courses. The students will apply the venture capital model, discounted cash flow model and relative valuation model, gaining insights into start-up valuation building blocks.

‘Value-Added Activities of Venture Capitals in Entrepreneurial Finance: Evidence from the Growth of Flipkart’ by authors Moirangthem and Nag delves into the multifaceted nature of entrepreneurial finance, highlighting the non-financial roles and value addition offered by venture capital firms, using Flipkart as an example. The case aims to shed light on the substantial non-financial roles and value addition offered by venture capital firms in the entrepreneurial finance process. This will help students understand different forms and sources of entrepreneurial finance, explore the relationship between start-up stages and financing types, study the non-financial roles of venture capital firms and analyse empirical evidence from Flipkart. Designed for graduate courses, it is suitable for entrepreneurship, start-up funding, venture capital and enterprise value addition courses, offering valuable insights into the intricate dynamics of entrepreneurial finance and its impact on start-up success.

Authored by Verma and Dewani, ‘Enerzi Microwave Systems: Growth Strategies in Emerging Market’ explores growth options for Enerzi Microwave Systems Pvt Ltd (EMSPL) in the industrial microwave heating systems market. In 2018, the company faced a critical juncture, seeking rapid growth and contemplating diversification into radio frequency heating systems amid changing technology trends. The case thoroughly analyses various growth options available to EMSPL, emphasizing the critical examination of alternatives and highlighting the significance of analytical processes in decision-making. It introduces students to the market size estimation process, especially when data is not readily available, requiring the use of multiple data points. Students are challenged to analyse different growth strategies, including market development, product development, diversification and market penetration, calculating revenue and net income for each option.

‘Sindh Fruit Traders: Expanding Abroad’ case unfolds the narrative of Sindh Fruit Traders, a small-scale enterprise initiated by Mr Imtiaz and his partner, Mr Tehseen. After achieving success in the domestic market, the duo faces saturation and contemplates international expansion. The pivotal challenge involves selecting the optimal country for exports and preparing thoroughly for this venture. The case offers a comprehensive account of traditional fruit cultivation and harvesting methods, extending the discussion to encompass local trading practices in the dates market, Khairpur. The exploration further delves into research methodologies crucial for expanding business through exports. Students engaging with this case are expected to grasp the intricacies of date farming and export business, understand the factors influencing entrepreneurial decisions in small businesses, apply research skills for well-informed decision-making and utilize a decision support model to pinpoint export opportunities. Tailored for modules on entrepreneurship, small business management and macroeconomics, this case provides valuable insights into fundamental business concepts and diverse business forms. Additionally, it is well-suited for courses in comparative management or international management and applied research methods within MBA or BBA programmes, serving as an assessment tool for students’ overall comprehension of entrepreneurship.

The last case of this issue, ‘Financial Crisis at Jet Airways Limited: Turnaround or Bankruptcy’, provides a comprehensive exploration of Jet Airways’ trajectory, initiated by Naresh Goyal in 1992 with the goal of establishing India’s premier airline. Despite its initial success, Jet Airways encountered a significant shift in 2006 due to heightened competition from low-cost carriers, resulting in a decline in market share and profitability. Despite conducting an initial public offering (IPO) in 2005 and securing substantial investments, the airline grappled with industry challenges and managerial decisions that ultimately led to insurmountable debt and the suspension of operations in April 2019. The case underscores pivotal factors contributing to Jet Airways’ financial downturn, including its IPO, the acquisition of Air Sahara, the impact of crude oil prices and broader challenges within the Indian airline industry. Tailored for corporate finance and financial management courses at both postgraduate and graduate levels, the case aims to enhance students’ understanding of financial ratio calculation and interpretation, the implications of business acquisitions, analysis of the dynamic business environment and industry challenges in the Indian airline sector and the evaluation of alternative business bailout strategies, considering their respective advantages and disadvantages.

We appreciate the input and feedback from our reviewers and contributors. Please contact the authors directly for teaching notes related to the published cases. We hope these cases will enrich your teaching curriculum and stimulate meaningful discussions, deepening students’ understanding of the subject matter. I hope that these cases will find their way to your classrooms.