Case studies

Bain Capital’s “Take Private” of China Fire

D. GROMB, M. KITTEN

2016

The case centers on the 2011 buyout of China Fire, a NASDAQ-listed Chinese fire protection firm. The MBO, backed by private equity firm Bain Capital, comes amid a wave of "take China privates" aimed at exploiting valuations depressed by fraud scandals at some U.S.-listed Chinese firms. In response to the $9 cash bid, China Fire's board has formed a Special Committee to negotiate terms. As the committee's financial advisor, Barclays Capital must conduct financial due diligence, including the valuing of China Fire with various methods.

Keywords: Company valuation, buyout, reverse merger, China

5 mini-cas de comptabilité de gestion - coût complet

V. MALLERET

2015

La série « 5 mini-cas de comptabilité de gestion » comporte 5 problèmes ou mini-cas situés dans des contextes fictifs variés et traite essentiellement de calculs de coûts complets ; elle aborde les sujets suivants: définition des objets de coûts, structure des centres d'analyse ou activités, choix d'unités d'œuvre (ou cost driver), calcul et analyse de différents niveaux de marge.
Le fait de mobiliser ces outils et notions dans des situations dont l'hétérogénéité a été voulue et pensée (en termes de produits, d'activités, de structure organisationnelle) permet à l'étudiant de les assimiler en profondeur; l'étudiant prend aussi conscience du fait qu'un « bon » système de calcul des coûts passe par une compréhension des clients, des produits et des processus opérationnels de l'organisation.

Keywords: Coût complet, comptabilité, gestion, unité d'œuvre, marge

The Days after Tomorrow: North Korea Has Fallen A, B, C, D

J. GHEZ

2015

This case is a war game, based on a fictional scenario that describes the fall of the North Korean regime and its political, economic and business consequences in the region and beyond. Participants adopt the point of view of a specific actor (like a company, a non-state actor or a foreign government) of their or their instructor's choosing. Participants need to identify opportunities and risks in a very unstable political and business context and to adapt their approach as the scenario unravels.

The scenario is divided up into four distinct sequences. For each day, participants are asked to develop a response and a strategy in the wake of the new regional architecture. Depending on the game structure that the instructor chooses, there may be debriefing sessions between each sequence, leading participants to react not only to the scenario but to the approaches taken by fellow participants as well.

Keywords: Strategy; General management; Geopolitics; North Korea; Long, term planning; Strategic foresight; International business; Crisis management; Risk; Uncertainty; Asia; Leadership; Vision

African Solar Rise: Electrifying Rural Tanzania

S. AFLAKI, A. MASINI

2014

The case is about a German NGO that provides solar energy solutions in Tanzania and faces several challenges in order to scale its organization to generate much-needed revenue.
It examined the NGO, African Solar Rise (ASR), as it worked to improve its supply chain operations and last-mile distribution challenges while raising necessary capital to put it on more solid footing

Keywords: Accounting/Finance; Base of the Pyramid; Economics; Emerging and Developing Economies; Emerging Markets; Entrepreneurship & Innovation; Frontier Markets; International Business; Marketing/Sales; Operations Management/Supply Chain; Social Enterprise (Social Entrepreneurship); Social Impact; Strategy & Management; Sustainability

After the Spin-off from Accor: Creating a New Strategy for Edenred

P. DUSSAUGE, F. LEROY

2014

The case describes the process through which the “prepaid services” division of the Accor hotel group was spun off in 2010 as Edenred, an independent publicly traded company. It goes on to explain what prepaid services are and to describe the prepaid services industry, before focusing on Edenred itself. Finally, it points out changes occurring in and around the industry that might undermine the future profitability of the industry as a whole and of Edenred in particular. Students are asked to suggest possible strategies for the future in order to maintain the abnormally high profitability Edenred has enjoyed for many years.

Keywords: Business strategy; Two-sided markets; Network externalities; Unusual business models; Government support; Tax incentives; Spin-offs; De-mergers; Digitalisation