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In 2022, the NatWest Executive Committee (ExCo) shifted its strategy to focus increasingly on growth. The previous 15 years had been spent on restructuring and reshaping following a government recapitalisation in 2008. For the ExCo to transform NatWest into a future-ready bank, it embarked on a four-retreat engagement with IMD to help it develop…
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Picking up where Case A ends, Case B reveals that Grupo Inca decided to innovate internally and develop a new fabric from the rare black alpaca fiber. After nearly three years of effort, the Inoue brothers’ dream of creating a luxury collection from undyed black alpaca fiber became a reality. The collaboration between the Inoue brothers, Incalpa…
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Grupo Inca, a conglomerate that owned Peru’s leading textile business with a long history of working with alpaca fleece, was at a crossroads regarding the conservation and commercialization of black alpaca fiber. Historically, black alpacas were as common as their lighter-colored counterparts, but market preferences drove them to near extinction…
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This case follows the steps taken by Kaichi Yokoyama, Moon Creative Lab’s CEO, to establish the entity as a pioneering venture studio and entrepreneurial talent development entity within the Mitsui Group. As a corporate venture, the story began in 2018 when Kaichi embarked on a mission to reshape Mitsui’s deeply entrenched traditions and pursue …
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AMAG is Switzerland’s premier automotive retail and service company, holding exclusive rights to import Volkswagen Group car brands such as Audi, Volkswagen, Skoda, Cupra and Seat. In 2022 AMAG had 7,300 employees and a revenue of CHF 4.4 billion. The electrification of the automotive industry and the introduction of the agency model by the Volk…
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Nespresso, the global leading brand in portioned coffee, is facing an existential threat. The company’s current market base, which consists primarily of aging consumers, is likely to decline in the medium to long term. To compensate for the certain shortfall, the company needs to attract young coffee drinkers among Millennials and Generation Z, …
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Assortment optimization presents a complex challenge for retailers, as it depends on numerous decision factors. Changes in assortment can result in demand redistribution with multi-layered consequences. This complexity is even more pronounced for omnichannel retailers, which have to manage assortments across multiple sales channels. Choice model…
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Entrepreneurship has emerged as a vibrant and dynamic field of academic inquiry, capturing the attention of scholars in management and other social science and engineering disciplines. Its significance extends beyond academia to policymakers and practitioners, who recognize entrepreneurship’s crucial role in economic development, innovation and …
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The recent and rapid ascent of China into today’s scientific powerhouse is increasingly debated in circles of economic politics and policy making. Yet, we still know relatively little how such rise has materialized in terms of Chinese scientists’ openness to international collaborations and relative focus on high-impact research, particularly in…
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Existing research on social entrepreneurship has tended to focus on its favorable outcomes and positive societal impacts. While we acknowledge and commend this optimistic perspective, we contend that the lack of robust and systematic attention given to the negative outcomes and effects of social entrepreneurship restricts our understanding of th…
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This study investigates whether male and female entrepreneurs exhibit systematic differences in the customer learning actions they pursue, and how those actions convert to venture performance. Drawing from a dyadic sample of founders and startup advisors in the high-technology context, we explore the effects of two alternative customer learning …
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We examine the predictive power of the net asset value (NAV)/price ratio for the LPX50 index, a key benchmark in the field of listed private equity, using monthly data from 2002 to 2024. A risk factor model reveals the index’s significant exposure to small-cap and value stocks. Autocorrelation tests indicate market inefficiencies and suggest pot…
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Set in 2024, the case describes the trajectory of Nike’s success and how it had recently lost its way. The company was experiencing its worst slump in more than 10 years. Since 2020, CEO Donahoe oversaw a significant shift away from wholesale, with a focus on direct channels and a suite of apps. However, direct-to-consumer (DTC) sales failed to …
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This brief case exercise presents an increasingly common business scenario: An established player acquires a small, agile start-up to re-energize its value proposition. In this case, established global beauty giant UrbanLuxe acquires beauty start-up KYX. UrbanLuxe represents an old-school company selling a classic portfolio mainly via traditiona…
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This is a riveting case about poor board governance at Theranos that fostered a culture of deception and led to the company’s collapse and the criminal conviction of its celebrated founder, Elizabeth Holmes. Case B explains Theranos’s eventual collapse and highlights how the board contributed to a culture of deception within the company.
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Shenzhen Power-Solution (SPS), founded in 2009 in China as an entrepreneurial venture, disrupted traditional lighting markets in African villages with its flagship product, Candles Killer. This solar lamp, priced under $5, replaces hazardous kerosene lamps and has an optimized design (9 components, water-bottle stands). The candles killer solar …
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This is a riveting case about poor board governance at Theranos that fostered a culture of deception and led to the company’s collapse and the criminal conviction of its celebrated founder, Elizabeth Holmes. Case A outlines the establishment and growth of Theranos, it’s board expansion and the issues that led to the Wall Street Journal article t…
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The case describes Legendary Foods Africa, a food-tech company founded in 2020 in Ghana by Canadian entrepreneur Shobhita Soor. Legendary Foods Africa is focused on farming, processing and selling palm weevil larvae products for human consumption. Palm weevil larvae, a traditional local food, are rich in protein, healthy fats and essential nutri…
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Leaders can feel less stressed and improve decision-making if they learn the art of conscious breathing.
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In a time of trade tensions, Fabian Grimm explains why recognizing deeper patterns of adaptation matters more than winning headlines in economic negotiations.
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Robert Vilkelis shares a four-step framework to help translate your expertise into audience impact in part two of his series on effective communication for leaders.
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Family enterprise governance is vital for success, yet too much family involvement in these systems may undermine their effectiveness and long-term stability.
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Cass R Sunstein joins IMD’s Julia Binder to discuss rethinking responsibility in climate justice, innovation, global equity, and the moral duty of rich nations.
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Firing on all engines, Unilever’s ‘crown jewel’ is scaling digital, talent, and strategy to lead growth in India’s fast-approaching $5tn economy.
Research Information & Knowledge Hub for additional information on IMD publications

Leaders can feel less stressed and improve decision-making if they learn the art of conscious breathing.
Research Information & Knowledge Hub for additional information on IMD publications

In a time of trade tensions, Fabian Grimm explains why recognizing deeper patterns of adaptation matters more than winning headlines in economic negotiations.
Research Information & Knowledge Hub for additional information on IMD publications

Robert Vilkelis shares a four-step framework to help translate your expertise into audience impact in part two of his series on effective communication for leaders.
Research Information & Knowledge Hub for additional information on IMD publications

Family enterprise governance is vital for success, yet too much family involvement in these systems may undermine their effectiveness and long-term stability.
Research Information & Knowledge Hub for additional information on IMD publications

Cass R Sunstein joins IMD’s Julia Binder to discuss rethinking responsibility in climate justice, innovation, global equity, and the moral duty of rich nations.
Research Information & Knowledge Hub for additional information on IMD publications

Firing on all engines, Unilever’s ‘crown jewel’ is scaling digital, talent, and strategy to lead growth in India’s fast-approaching $5tn economy.
Research Information & Knowledge Hub for additional information on IMD publications
The explosion of generative AI has sparked a wave of case studies showing how quickly and profoundly it is transforming businesses. Yet most of these use cases still apply the technology to enhancing existing systems. This book makes the case for why business leaders must revisit the fundamentals of generative AI and look beyond short-term, tact…
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The State of Globalisation brings together leading economists to examine how technology, policy, and geopolitics are simultaneously reshaping the global economy in unprecedented ways. Far from marking a simple retreat, today’s divergent forces are transforming cross-border trade, investment, and supply chains, generating both new risks of fragme…
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From self-awareness to team excellence – master the essential skills that separate great leaders from the rest. Today’s leaders face unprecedented challenges: navigating ethical gray zones, building trust across generations, and making critical decisions under intense pressure. This collection brings together breakthrough insights from world-cla…
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The IMD World Competitiveness Ranking (WCR) is a renowned tool for assessing the competitiveness of economies worldwide. This year, IMD’s World Competitiveness Center (WCC) has expanded its scope to include Kenya, Namibia, and Oman. This year’s ranking highlights that government efficiency is key to fighting social divides and keeping economies …
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Have you ever wondered why AI and sustainability seem so promising, yet so often fail to take off inside traditional companies? Or why, despite their potential synergy, AI and sustainability are so rarely pursued together? Too often, companies treat AI and sustainability as separate tracks, believing it’s simpler to manage change that way. But t…
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Necessity entrepreneurship is broadly understood as the identifying and seizing of business opportunities to address basic needs such as food and shelter. This volume proposes new ways of seeing, theorizing, and researching necessity entrepreneurship. Scholars from across the management field expand our collective understanding, presenting neces…
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