Case Studies Collection - IMD business school for management and leadership courses

Case Study

Hilti Fleet Management: Driving a global transformation

The case describes Hilti’s transformation from a premium tool maker to a solution provider in commercial construction, while keeping its innovation leadership. Confronting industry pain points such as lost tools, downtime, safety risks and thin margins, Hilti created Fleet Management FM. This subscription bundles NURON tools, repairs, loaners, t…

Strategy Marketing Business Transformation Leadership

By Stefan Michel

Hilti Fleet Management: Driving a global transformation

By Stefan Michel
Case reference: IMD-2697 ©2025

Summary

The case describes Hilti’s transformation from a premium tool maker to a solution provider in commercial construction, while keeping its innovation leadership. Confronting industry pain points such as lost tools, downtime, safety risks and thin margins, Hilti created Fleet Management FM. This subscription bundles NURON tools, repairs, loaners, theft coverage, and Hilti’s ON!Track asset management system into predictable monthly payments. IoT connectivity delivers real-time insights on utilization, battery health and maintenance. Moving towards end-to-end optimization E2E, FM digitally connects warehouses, vans and administrative processes, unlocking measurable productivity and margin improvement. FM also operationalizes circularity: productivity analyses right-size tool parks often by 2030 fewer assets, tools are refurbished or donated for a second life, and non-usable materials are recycled via a global network of local partners. The case illustrates how business model innovations with global coverage necessitate fundamental organizational transformations that can take many years. It allows students to develop concise, concrete and convincing value propositions in a B2B market environment. It also facilitates a discussion on solution readiness offering, supplier, contract, and customer and the identification of a sustainable competitive advantage based on the VRIO framework.

Reference IMD-2697

Copyright owner IMD Copyright

Organization Hilti

Industry Manufacturing, Machinery

Available Languages English

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Related topics

Strategy

Marketing

Business Transformation

Leadership

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Case Study

Oculis: Transforming ophthalmology a drop at a time

For the team at Oculis, the announcement of the new USD 100 million fundraising could not have come at a more opportune moment. The biopharmaceutical startup was founded in 2017 to transform ophthalmology by developing not only original delivery mechanisms but also groundbreaking treatments for eye diseases like Diabetic Macular Edema (DME). Est…

Start-up Venture Capital Entrepreneurship Strategy

By Benoit F. Leleux, Abdulaziz A. AlSayyari, Barbara Müller and Vladimir Novotny

Oculis: Transforming ophthalmology a drop at a time

By Benoit F. Leleux Abdulaziz A. AlSayyari Barbara Müller and Vladimir Novotny
Case reference: IMD-2692 ©2025

Summary

For the team at Oculis, the announcement of the new USD 100 million fundraising could not have come at a more opportune moment. The biopharmaceutical startup was founded in 2017 to transform ophthalmology by developing not only original delivery mechanisms but also groundbreaking treatments for eye diseases like Diabetic Macular Edema (DME). Established by seasoned industry experts, Oculis aimed to replace invasive eye treatments with more accessible, patient-friendly solutions such as topical eye drops. The initial research conducted in a laboratory in Iceland led to a pipeline of drug candidates, now at various stages of clinical testing. The firm continued to ramp up thanks to successive rounds of financing from top investors and partners, totaling more than USD 500 million at the end of 2024. However, it also faced some dramatic events, including the sudden death in early 2024 of its CTO. The company continued to scale, strategically balancing clinical advancements with regulatory milestones. The recent secondary offering on Nasdaq would accelerate the clinical development pipeline, in particular its novel neuroprotective candidate Prisosegtor (OCS-05), OCS-01, a topical eye drop for DME, and OCS-02, a topical biologic eye drop candidate for dry eye disease. Oculis now grappled with a number of strategic decisions, with two questions in particular concerning the team. Should it rely mostly on outsourcing production to a contract development and manufacturing organization (CDMO) or develop its own in-house manufacturing capabilities? There were strong benefits and drawbacks to both approaches. It faced a related dilemma with its product pipeline. Should it continue to rely on its own R&D, as in the past, or should it consider acquiring technologies outside, through M&A activities?

Reference IMD-2692

Copyright owner IMD Copyright

Organization Oculis

Industry Healthcare, Pharmaceuticals

Available Languages English

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Related topics

Start-up

Venture Capital

Entrepreneurship

Strategy

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Case Study

The seven dimensions of academic strategy: A systems framework for higher education excellence

Academic institutions face unprecedented complexity from technological change, evolving funding models, diverse stakeholder demands and pressure to demonstrate societal impact. Traditional strategic planning – periodic exercises that typically yield lengthy reports but little change – no longer suffices. This technical note introduces the Seven …

Strategy Leadership Decision Making

By Michael D. Watkins

Case Study

Lemonade: Is its “AI everywhere” strategy a competitive advantage?

The case examines how a New York-based 10-year-old start-up, Lemonade Inc., successfully disrupted the insurance industry. Powered by artificial intelligence, Lemonade’s mobile app replaced brokers and bureaucracy with bots and machine learning. The combination of simple product, no jargon, zero paperwork and an all-digital engagement allowed Le…

Customer Centricity Artificial Intelligence Disruption Start-up

By Goutam Challagalla and Ivy Buche

Case Study

The seven elements of adaptive advantage

This technical note presents a comprehensive framework for achieving adaptive advantage, which is the ability to consistently evolve at a speed that surpasses environmental and competitive change. In today’s rapidly changing business environment, characterized by technological advancement, AI disruption, geopolitical turbulence and climate shift…

Organizational Change Organizational Design Leadership

By Michael D. Watkins

Case Study

Chugai (C): Navigating the next century of global innovation

Chugai C focuses on the company’s future as it celebrates its 100th anniversary in 2025. In 2021, Chugai launched its ambitious ‘TOP I 2030’ growth strategy, aiming to transition from Japan’s top innovator to a global leader. The strategy sets two primary targets: doubling RD output and launching one in-house global product annually by 2030. The…

Strategy Mergers and Acquisitions Organizational Culture Global Business

By Kazuo Ichijo and Yunfei Feng

Case Study

Chugai (B): Alliance with Roche to be among the best

Chugai B examines the pivotal strategic alliance formed in October 2002 between Chugai Pharmaceutical and Swiss giant Roche. Facing constraints in RD funding and global reach, Chugai’s President Osamu Nagayama sought a partnership to achieve the firm’s ambition of becoming Japan’s number one pharmaceutical enterprise while preserving its autonom…

Strategy Mergers and Acquisitions Organizational Culture Global Business

By Kazuo Ichijo and Yunfei Feng

Case Study

Chugai (A): Overcoming adversity with a transformative leap

Chugai A traces the transformative journey of a leading Japanese biopharmaceutical firm from its founding in 1925 to the early 2000s. Starting with founder Jz Ueno’s vision to ‘create medicines that benefit society,’ the case details the company’s evolution from an over-the-counter OTC drug importer to a research-driven enterprise. Key milestone…

Strategy Mergers and Acquisitions Organizational Culture Global Business

By Kazuo Ichijo and Yunfei Feng

Case Study

Ten principles for making better decisions

This Technical Note presents a comprehensive framework of ten evidence-based principles for improving decision-making effectiveness in leadership contexts. Drawing from cognitive science, behavioral economics and management theory, it addresses the critical challenge that leaders face in making sound decisions under pressure and uncertainty.The …

Decision Making General Management Leadership

By Michael D. Watkins

Case Study

Building an IT ecosystem at Intertech

In April 2021, Sava oban, the newly appointed EVP of Intertech, faces a perfect storm of Turkey’s economic crisis and the global scramble for tech talent. This forces him to confront an operational meltdown at Intertech, the IT subsidiary of DenizBank. The massive talent exodus results in a 60 turnover rate, which threatens to derail critical pr…

Strategy Innovation Digital Talent Management

By Murat Tarakci

Case Study

DNB Bank: Embracing startups as a growth strategy

The case examines how DNB Bank, Norway’s largest financial services company, reshaped its growth strategy by focusing on startups and SMEs, a segment traditionally considered unprofitable. In 2013, DNB launched a bold SME strategy, deliberately choosing a gross approach to win new startups early in their life cycle rather than a net approach foc…

Strategy Customer Centricity Business to Business

By Goutam Challagalla, Francis D. Kim and Philip Charles Zerrillo

DNB Bank: Embracing startups as a growth strategy

By Goutam Challagalla Francis D. Kim and Philip Charles Zerrillo
Case reference: IMD-2706 ©2025

Summary

The case examines how DNB Bank, Norway’s largest financial services company, reshaped its growth strategy by focusing on startups and SMEs, a segment traditionally considered unprofitable. In 2013, DNB launched a bold SME strategy, deliberately choosing a gross approach to win new startups early in their life cycle rather than a net approach focused on the profitability of existing accounts. This strategy, enabled by a significant investment in digitalization and a cultural shift toward customer lifecycle engagement, generated exceptional results and by 2025, the SME segment delivered the highest return on allocated capital. The journey, however, was not linear. A European regulatory crackdown in 2019, following the Danske Bank money laundering scandal, forced DNB to shift its focus from growth to compliance. The bank reallocated 1,000 employees to KYC units, dismantling its startup-friendly onboarding process and causing customer acquisition to stall. As competitors advanced, DNB had to orchestrate a strategic Restart effort to rebuild its SME leadership. This involved launching superior digital tools, providing automated lending decisions within a minute, and renewing its customer-centric focus. By 2025, the recovery was well underway, with one in three Norwegian SMEs banking with DNB. The case challenges students to evaluate DNB’s past choices, the critical balance between growth and compliance, and the future of SME banking as AI and digital agents transform customer interactions.

Reference IMD-2706

Copyright owner IMD Copyright

Organization DNB Bank

Industry Finance and Insurance, Banking

Available Languages English

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Related topics

Strategy

Customer Centricity

Business to Business

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Case Study

Thermax: Four paths to succession in a family business

From its origins as a manufacturer of hospital equipment for the Indian market, Thermax has grown into a multinational corporation operating in 90 countries, offering integrated solutions in heating, cooling, power generation, water treatment and recycling, air pollution control, and chemicals with a focus on ensuring clean air, clean energy and…

Family Business

By Peter Vogel and Anouk Lavoie

Case Study

Confronting Elon Musk? Nia vs. Tesla

The case follows Kristin Hull, founder and CIO of Nia Impact Capital, a mission-driven investment firm in California, as she faces a pivotal decision in July 2025: Should she file a shareholder resolution against Tesla, Inc.? Hull and Nia have engaged Tesla for over five years on issues of human capital management, workplace equity and board ove…

Sustainability Corporate Governance Diversity and Equity and Inclusion Decision Making

By Vanina Farber and María Helena Jaén

Case Study

Kontor: When VR faces reality. An internal innovator’s dilemma

The case looks at the fundamental challenges, tensions and opportunities associated with an internally run venture as opposed to an externally funded startup or spin-off company. It discusses the genesis and context of Kontor, an internal venture funded by Resmed Inc. Resmed is an S&P 500 MedTech company. At the time of the case, May 2024, Konto…

Innovation Strategy

By Jim Pulcrano, Greg Knight, Liming Chen and Michael Pinczuk

Case Study

The power of brand-led differentiation: What Vanzetti Engineering learned from luxury brands (B) (Video case)

This case series explores what companies can learn from luxury brands without becoming luxury brands themselves. The video B case features interviews with three Vanzetti Engineering executives: the marketing director, the CEO and owner and the chief commercial officer. With the shrinking of the automobile industry, the company has had to reposit…

Luxury Marketing Strategy

By Stéphane J. G. Girod and Martin Králik

The power of brand-led differentiation: What Vanzetti Engineering learned from luxury brands (B) (Video case)

By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-2696 ©2025

Summary

This case series explores what companies can learn from luxury brands without becoming luxury brands themselves. The video B case features interviews with three Vanzetti Engineering executives: the marketing director, the CEO and owner and the chief commercial officer. With the shrinking of the automobile industry, the company has had to reposition itself in other industrial sectors where it is significantly smaller than the customers. Vanzetti Engineering embraced some of the codes of luxury branding according to what suited it and ignored others. The company discovered that although it was focused mostly on creating functional value, it had to dwell much more on emotional and societal value creation. The process of brand elevation required a complete cultural transformation, and one of the lessons from the case is that a brand is not a slogan but a way of being and of delivering value.

Reference IMD-2696

Copyright owner IMD Copyright

Organization Vanzetti Engineering

Industry Construction and Engineering;Manufacturing

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Luxury

Marketing

Strategy

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