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Case Study
Jubilee Enterprises of Thailand: Growing through insights

Unyarat Pornprakit (Unya) is the youthful chief executive officer of Jubilee Enterprise PLC, a diamond jewelry retailer. Since Unya became CEO in 2008, she has expanded the chain to 128 stores and grown the revenue to $400 million. She has managed to deliver record earnings for 12 straight years. Unya’s father began the process of professionaliz…

General Management Entrepreneurship Family Business
By Philip Charles Zerrillo and Goutam Challagalla
Case reference: IMD-7-2527, © 2024
Jubilee Enterprises of Thailand: Growing through insights
By Philip Charles Zerrillo and Goutam Challagalla
Case reference: IMD-7-2527 ©2024
Summary
Unyarat Pornprakit (Unya) is the youthful chief executive officer of Jubilee Enterprise PLC, a diamond jewelry retailer. Since Unya became CEO in 2008, she has expanded the chain to 128 stores and grown the revenue to $400 million. She has managed to deliver record earnings for 12 straight years. Unya’s father began the process of professionalizing and standardizing Jubilee Enterprises and diamond jewelry retail in Thailand. He introduced standardized pricing, store design and store-in-store concepts. Unya took standardization to a new level but with an eye to customer experience. She focused on employee training and new store concepts such as “islands” for freer customer interactions. Although she has been using data for a long time, she is now institutionalizing its use to manage the firm. Every morning her regional managers receive a report with her personal suggestions on what to do. She is also using data from in-store cameras to monitor the activities of salespeople and use data from the video feed to train salespeople. Will her managers and store employees accept such direction?
Reference IMD-7-2527
Copyright ©2024
Copyright owner IMD Copyright
Organization Jubilee Enterprises
Industry Consumer Goods, Luxury Goods and Jewelry
Available Languages English
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Case Study
Carvajal: Building a holistic family enterprise

The Carvajal case is based on interviews with four family members and executives of Carvajal S.A., one of Latin America’s leading family businesses. The case focuses on how, over the span of 120 years, the Carvajal family built a holistic family enterprise to govern both its business and its family ownership structure. The system includes the ty…

Family Business
By Peter Vogel and Anouk Lavoie Orlick
Case reference: IMD-7-2438, © 2024
Carvajal: Building a holistic family enterprise
By Peter Vogel and Anouk Lavoie Orlick
Case reference: IMD-7-2438 ©2024
Summary
The Carvajal case is based on interviews with four family members and executives of Carvajal S.A., one of Latin America’s leading family businesses. The case focuses on how, over the span of 120 years, the Carvajal family built a holistic family enterprise to govern both its business and its family ownership structure. The system includes the typical governance attributes of a large family enterprise – including a family council, shareholders’ assembly and family constitution – and in addition, it puts special emphasis on entrepreneurship and social and economic welfare. Yet, with the family expanding in size and scattering geographically, the Carvajal family must continue to innovate and adapt their family enterprise model. The case explores the particular challenges related to family governance, ownership and CEO succession. It details how Carvajal established NextGen programs and fostered entrepreneurship as a “glue” to bind the family together. It also shows how Carvajal achieved collective impact by aligning the purpose of the business with the purpose of the family foundation, the family council and the wider family enterprise. From a broader perspective, the case illustrates how to manage family governance issues in a multi-generational family enterprise by understanding and applying the mechanisms that are available, and by maintaining a healthy balance between family leadership and independent governance.
Reference IMD-7-2438
Copyright ©2024
Copyright owner IMD Copyright
Organization Carvajal
Industry Manufacturing, Paper and Pulp Products;Manufacturing, Packaging and Containers;Consumer Goods, Furniture;Information Technology
Available Languages English
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Case Study
Robert Kuok: The century-old Asian legend without a clear succession plan

Robert Kuok is a prominent Malaysian entrepreneur and the founder of the Kuok Group. He has led the Kuok Group to become one of Asia’s most dynamic multinational conglomerates, with publicly listed companies scattered across Hong Kong, Singapore, and Malaysia, complemented by a web of privately held companies. However, in 2023, the 100-year-old …

Family Business Human Resources Entrepreneurship
By Marleen Dieleman and Phuong Thao Pham Thi
© 2024
Robert Kuok: The century-old Asian legend without a clear succession plan
By Marleen Dieleman and Phuong Thao Pham Thi
©2024
Summary
Robert Kuok is a prominent Malaysian entrepreneur and the founder of the Kuok Group. He has led the Kuok Group to become one of Asia’s most dynamic multinational conglomerates, with publicly listed companies scattered across Hong Kong, Singapore, and Malaysia, complemented by a web of privately held companies. However, in 2023, the 100-year-old …
Copyright ©2024
Copyright owner External Copyright
Organization Kuok Group
Available Languages English
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Case Study
The VELUX Group: The path to lifetime carbon neutrality

The case explores how the family-owned VELUX Group – inventor and manufacturer of roof windows since 1941 – took incorporating sustainability in its business operations to heart, leading to its pledge to become lifetime carbon neutral by its centenary in 2041. In its early days and at the behest of its founder, the VELUX Group adopted its “Mod…

Sustainability Family Business Strategy
By Sameh Abadir and Marc Chauvet
Case reference: IMD-7-2367, © 2022
The VELUX Group: The path to lifetime carbon neutrality
By Sameh Abadir and Marc Chauvet
Case reference: IMD-7-2367 ©2022
Summary
The case explores how the family-owned VELUX Group – inventor and manufacturer of roof windows since 1941 – took incorporating sustainability in its business operations to heart, leading to its pledge to become lifetime carbon neutral by its centenary in 2041. In its early days and at the behest of its founder, the VELUX Group adopted its “Model Company Objective (MCO),” a charter for how the business should be run. The case illustrates how the MCO set the company on a course toward sustainable operations, allowing it to spearhead such efforts in an industry often reluctant to engage with the topic.
Reference IMD-7-2367
Copyright ©2022
Copyright owner IMD Copyright
Organization VELUX
Industry Manufacturing
Available Languages English
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