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Sustainability
Latest Case Studies
Case Study
Should Unilever pivot from being purpose-led?

The case study delves into strategic transformation and leadership transitions at Unilever since 2009. Unilever has been an industry leader of business sustainability. Paul Polman was a pioneer who introduced the idea that, by addressing social and environmental problems, a company can unlock new growth opportunities. Polman launched a 10-year S…

Strategy Marketing Purpose Sustainability Diversity and Equity and Inclusion
By Goutam Challagalla and Samaja Penumaka
Case reference: IMD-7-2578, © 2024
Should Unilever pivot from being purpose-led?
By Goutam Challagalla and Samaja Penumaka
Case reference: IMD-7-2578 ©2024
Summary
The case study delves into strategic transformation and leadership transitions at Unilever since 2009. Unilever has been an industry leader of business sustainability. Paul Polman was a pioneer who introduced the idea that, by addressing social and environmental problems, a company can unlock new growth opportunities. Polman launched a 10-year Sustainable Living Plan with three objectives: to enhance health and well-being, livelihoods and environmental sustainability. Alan Jope followed in Polman’s path and launched a novel plan for the new decade called The Unilever Compass, focused on sustainability. Unilever took a strategic turn during Jope’s tenure and asked the brands to use their products to solve social issues. He called this “purpose-led branding,” which confused investors. They believed social branding would take the company’s focus away from growth. Tensions were high at Unilever and resulted in a change in leadership. The company wants to focus on growth, which raises questions about the future of corporate sustainability at Unilever.
Reference IMD-7-2578
Copyright ©2024
Copyright owner IMD Copyright
Organization Unilever
Industry Consumer Goods
Available Languages English
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Case Study
From grease to green: Impact investing due diligence on ZhanaSolutions

Fatbergs and grease waste from industrial kitchens are hardly the most enticing topics for a business school case study. Yet ZhanaSolutions, the start-up examined in this impact investment due diligence case, is all about grease waste. At least, on the surface. When one dredges deeper, the case reveals a compelling story about how to embed impac…

Social Innovation Entrepreneurship Finance Sustainability
By Vanina Farber and Shih-Han Huang
Case reference: IMD-7-2518, © 2024
From grease to green: Impact investing due diligence on ZhanaSolutions
By Vanina Farber and Shih-Han Huang
Case reference: IMD-7-2518 ©2024
Summary
Fatbergs and grease waste from industrial kitchens are hardly the most enticing topics for a business school case study. Yet ZhanaSolutions, the start-up examined in this impact investment due diligence case, is all about grease waste. At least, on the surface. When one dredges deeper, the case reveals a compelling story about how to embed impact into decision making. It illustrates the risk, return and impact relationship – specifically, the added-value that impact investors can bring by investing in companies that generate a clear measurable impact, even when the risk-return profile could lead traditional commercial investors who do not consider impact to underappreciate the business opportunity. The ZhanaSolutions case looks at due diligence in the impact investing context. The protagonist, José Lozano, is the Latin American managing director of the Geneva-based impact investor AlphaMundi Group (AMG), an impact first but very commercially minded impact investor that invests in Africa and Latin America. In the case, Lozano and his team have completed the due diligence and are deciding whether to present a positive recommendation to the AMG Investment Committee to invest in ZhanaSolutions, The start-up, headquartered in Bogotá, offers a novel leasing model for its grease removal G-Trap technology to industrial kitchens in Colombia. Students assume the role of Lozano and will need to balance impact and financial considerations as they make a recommendation. Through the case, students can experience a real impact investing due diligence, explore the layers of considerations needed to build a compelling investment case and simulate how best to present proposals to an investment committee. The case underscores the idea that investable opportunities can be found in even the most mundane places.
Reference IMD-7-2518
Copyright ©2024
Copyright owner IMD Copyright
Organization AlphaMundi, ZhanaSolutions
Industry Finance and Insurance, Investment Management;Services, Water Supply and Sanitary Services
Available Languages English
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Case Study
Ikea Belgium Welcome Home Project: From ad hoc to deep social impact

The case describes IKEA’s new approach to making an impact through IKEA Belgium’s “Welcome Home Project,” dedicated to assisting single-parent families. The idea for the program came about during a cross-functional brainstorming session and initially involved donating funds and furniture to centers and shelters supporting such families. The proj…

Social Innovation Sustainability
By Sophie Bacq and Valerie Keller-Birrer
Case reference: IMD 7-2549, © 2024
Ikea Belgium Welcome Home Project: From ad hoc to deep social impact
By Sophie Bacq and Valerie Keller-Birrer
Case reference: IMD 7-2549 ©2024
Summary
The case describes IKEA’s new approach to making an impact through IKEA Belgium’s “Welcome Home Project,” dedicated to assisting single-parent families. The idea for the program came about during a cross-functional brainstorming session and initially involved donating funds and furniture to centers and shelters supporting such families. The project evolved to engage IKEA co-workers who volunteered their expertise during working hours to help set up housing and shelters. Another dimension was added as the initiative gained momentum and IKEA began collaborating with numerous social welfare organizations, collectively working towards policy changes intended to create a fairer and more supportive environment for single-parent families. While the program achieved remarkable results, the journey was not without its share of challenges. Transitioning from traditional donations to more innovative collaborative approaches required courage, and the team encountered resistance and skepticism along the way. Some of the social welfare organizations questioned the authenticity of IKEA’s motives, sometimes assuming economic self-interest instead of altruism. Collaboration with organizations that were so fundamentally different from IKEA required perseverance. Despite the enthusiasm of the IKEA co-workers who volunteered to support the social welfare organizations, internal communication efforts to raise awareness about the program proved to be an ongoing challenge. Recognizing the potential for international inspiration, IKEA considered sharing insights within its network. Simultaneously, the local team contemplated the next steps for IKEA Belgium, aware of the potential for further impact.
Reference IMD 7-2549
Copyright ©2024
Copyright owner IMD Copyright
Organization IKEA
Industry Consumer Goods, Furniture
Available Languages English
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Case Study
Galeneo Health: Scaling the hospital@home platform

MADRID (SPAIN), MARCH 2023. Jaime Garcia-Prieto, founder and CEO of Galeneo, was polishing the deck for the fundraising for his healthcare start-up. The seed round of €1 million would take him to the institutional A round scheduled for Q3-2024, a comfortable 18-month+ runway. His proposal to decentralize healthcare through a tech-enabled hospita…

Digital Transformation Disruption Entrepreneurship Operations Sustainability
By Benoit F. Leleux
Case reference: IMD-7-2496, © 2023
Galeneo Health: Scaling the hospital@home platform
By Benoit F. Leleux
Case reference: IMD-7-2496 ©2023
Summary
MADRID (SPAIN), MARCH 2023. Jaime Garcia-Prieto, founder and CEO of Galeneo, was polishing the deck for the fundraising for his healthcare start-up. The seed round of €1 million would take him to the institutional A round scheduled for Q3-2024, a comfortable 18-month+ runway. His proposal to decentralize healthcare through a tech-enabled hospital@home platform offered the solution people were looking for not only in Spain but also in most advanced economies. According to a recent Economist article, the NHS, like many healthcare systems, had become a sickness service, not a health service. To live up to the promise of its name would require a shift in focus, away from hospitals to the community, from centralized treatment to community-based prevention and bedside medicine. In other words, health systems needed to be investing in smoke alarms, not fire extinguishers. In 2020, as the Covid pandemic began, Jaime envisioned the future of in-home care for patients with chronic treatment needs. In 2021, he embarked on developing a platform to coordinate bedside medical care anywhere, anytime, in minutes. Galeneo was born. By 2023, it had integrated 200+ healthcare providers (HCPs) and 11+ institutional partners in the Madrid region, enabling the provision of general high-value services outside hospital. Revenues of €1.6 million in 2023 were expected, with a growth rate of about 8% every month and net profit breakeven reached in February. Things looked positive, but there were issues around scaling fast – although Jaime had found solutions. To counter the limited availability of qualified healthcare workers, he developed the Galeneo Academy to train future in-home bedside specialists. Tech-enabled standardization reduced operational complexity through an easy-to-use app and included real-time monitoring and quality control. Finally, the whole concept of community-based bedside medicine was still nascent, which meant market participants needed to adopt original approaches. But it was a large market with great potential.
Reference IMD-7-2496
Copyright ©2023
Copyright owner IMD Copyright
Organization Galeneo
Industry Healthcare, Health and Medical Services
Available Languages English
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Case Study
Vestiaire Collective: What lessons for luxury brands’ next business models? (Mini case)

By 2023, the global online resale marketplace Vestiaire Collective – founded in 2009 – had attracted more than 23 million members across 50 countries. Investors included global luxury group Kering. According to Vestiaire Collective’s executives, the secondhand apparel market was valued at between US$100 billion and US$120 billion. The company de…

Sustainability Digital Strategy
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2526, © 2023
Vestiaire Collective: What lessons for luxury brands’ next business models? (Mini case)
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2526 ©2023
Summary
By 2023, the global online resale marketplace Vestiaire Collective – founded in 2009 – had attracted more than 23 million members across 50 countries. Investors included global luxury group Kering. According to Vestiaire Collective’s executives, the secondhand apparel market was valued at between US$100 billion and US$120 billion. The company described itself as having a “a circular business model” and being “one piece of the puzzle in circularity.” Vestiaire’s leaders estimated that buying a used garment extended its life by 2.2 years, on average, reducing its environmental footprint by 90%. In addition, 82% of items bought on Vestiaire were believed to have replaced a first-hand purchase. Furthermore, Vestiaire was the first fashion resale platform to ban ultra-fast fashion. The company was also one of the first marketplaces to insert itself as a trustworthy middleman by authenticating the items for sale. Nevertheless, the fashion resale market was seeing significant consolidation, suggesting that only the biggest and fittest would survive. As of April 2023, Vestiaire Collective was still not profitable. Selling pre-worn clothes online remained a challenging process where every item must be sorted, priced, photographed and described in a listing. Against this backdrop, what were Vestiaire Collective’s best bets to achieve profitability? Importantly, should luxury brands venture into this territory – and if so, how?
Reference IMD-7-2526
Copyright ©2023
Copyright owner IMD Copyright
Organization Vestiaire Collective
Industry Consumer Goods, Luxury Goods and Jewelry;Consumer Goods, Apparel and Fashion
Available Languages English
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Case Study
Patagonia: Can circularity and sustainability win together? (Mini case)

Although Patagonia is not a player in the luxury segment per se, its track record in achieving circularity speaks volumes to luxury brands in terms of what a more mass-market brand is prepared to achieve in the circularity space and on its implications. Patagonia has discouraged overproduction and overconsumption, consistently working to create …

Sustainability Operations Strategy
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2525, © 2023
Patagonia: Can circularity and sustainability win together? (Mini case)
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2525 ©2023
Summary
Although Patagonia is not a player in the luxury segment per se, its track record in achieving circularity speaks volumes to luxury brands in terms of what a more mass-market brand is prepared to achieve in the circularity space and on its implications. Patagonia has discouraged overproduction and overconsumption, consistently working to create products that would never end up in a landfill. The main tenets of the company’s approach were called the five Rs. Reduce: Don’t buy what you don’t need. Repair: Fix items that still have life in them. Reuse: Sell or pass clothing on. When you’ve exhausted those options: Recycle. The last tenet, Reimagine, was a pledge to “take only what nature can replace.” Early on, Patagonia executives began investigating how they could encourage customers to reuse older clothing items that were not worn or no longer fit. Nevertheless, studies on textile circularity in general have pointed out that the practice has yet to establish sustainable economies. Large-scale reuse, repair and recycling have typically been hindered by high transportation, labor and processing costs as well as the decreasing quality and cost of new products. Furthermore, notwithstanding its status as the clothing industry’s beacon of sustainability – and billing itself as “in business to save our home planet” – Patagonia has never shied away from pursuing a high-growth, for-profit business model.
Reference IMD-7-2525
Copyright ©2023
Copyright owner IMD Copyright
Organization Patagonia
Industry Consumer Goods, Apparel and Fashion
Available Languages English
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Case Study
Pandora: Mastering the success factors of circular supply chains (Mini case)

Jewelry manufacturer and retailer Pandora is one of the largest jewelry players in the world. One of the key programs in Pandora’s circularity efforts had to do with the target of sourcing 100% recycled silver and gold by 2025. Executing on this goal became a complex journey, particularly as recycling precious metals represented a supply chain i…

Sustainability Global Business Operations
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2524, © 2023
Pandora: Mastering the success factors of circular supply chains (Mini case)
By Stéphane J. G. Girod and Martin Králik
Case reference: IMD-7-2524 ©2023
Summary
Jewelry manufacturer and retailer Pandora is one of the largest jewelry players in the world. One of the key programs in Pandora’s circularity efforts had to do with the target of sourcing 100% recycled silver and gold by 2025. Executing on this goal became a complex journey, particularly as recycling precious metals represented a supply chain in its own right. It also came with its own set of carbon impacts and environmental protection requirements. Could Pandora overcome the many constraints in operationalizing a viable circular model for silver and gold?
Reference IMD-7-2524
Copyright ©2023
Copyright owner IMD Copyright
Organization Pandora
Industry Consumer Goods, Luxury Goods and Jewelry
Available Languages English
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Case Study
Sony Honda Mobility: A joint venture between two iconic Japanese brands

In March 2022 Sony and Honda signed a memorandum of understanding to establish a joint venture to develop an electric vehicle that would combine Honda’s car-building expertise with Sony’s skillset in imaging, sensors, communication, networking and entertainment technologies for the vehicle’s travel and service platform. Despite being a leading p…

Strategy General Management Social Innovation Sustainability Future Readiness
By Kazuo Ichijo and Yunfei Feng
Case reference: IMD-7-2480, © 2023
Sony Honda Mobility: A joint venture between two iconic Japanese brands
By Kazuo Ichijo and Yunfei Feng
Case reference: IMD-7-2480 ©2023
Summary
In March 2022 Sony and Honda signed a memorandum of understanding to establish a joint venture to develop an electric vehicle that would combine Honda’s car-building expertise with Sony’s skillset in imaging, sensors, communication, networking and entertainment technologies for the vehicle’s travel and service platform. Despite being a leading player in the automotive industry for decades, Honda had recently fallen behind its competitors in one crucial area – the development of EVs. Sony, while successful in image sensor and content IP, had also entered the EV market. Given the competitive landscape of EVs, it was not surprising, in view of the two giants’ complimentary expertise, that they decided to cooperate and establish Sony Honda Mobility. The newly formed joint venture had a bold purpose: “Move people, through the pursuit of innovation with diverse inspirations.” In January 2023 Sony Honda Mobility unveiled the world premiere of its prototype electric car − the Afeela – in Las Vegas at the Consumer Technology Association’s annual trade event, CES. With plans to hit the North American market in 2026, the Afeela was set to revolutionize the way people perceive electric mobility.
Reference IMD-7-2480
Copyright ©2023
Copyright owner IMD Copyright
Organization Sony Honda Mobility
Industry Automotive, Electric Vehicles
Available Languages English
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