Tony’s Chocolonely: The pursuit of growth with purpose

Founded in 1996, Rustomjee Group real estate developers has developed into a notable player and a well-known brand in the Mumbai Metropolitan Region (MMR). The case examines two flagship concepts – “Childhoods Available” and “My Spaces” – and sheds light on how Rustomjee Group has managed to achieve differentiation while catering to two distinctively different market segments. The mass market of middle-income families and the premium market of the $1 million+ customer.

Founded in 1996, Rustomjee Group real estate developers has developed into a notable player and a well-known brand in the Mumbai Metropolitan Region (MMR). The case examines two flagship concepts – “Childhoods Available” and “My Spaces” – and sheds light on how Rustomjee Group has managed to achieve differentiation while catering to two distinctively different market segments. The mass market of middle-income families and the premium market of the $1 million+ customer.

The Qualios case tracks the search, negotiations and ultimate acquisition of an industrial, family-owned SME in Southern Germany. Using a variety of materials, including sophisticated composites, the company produces customized, high-quality braided sleeves primarily for technical applications. The fourth-generation owners were led to sell due to a lack of succession and health issues. A reputable niche business serving automotive, packaging, construction and industrial clients across Germany and internationally, Qualios generated €12 million in revenue and healthy EBITDA and employed around 50 staff. The company faced several issues, such as rising raw material and production costs, difficulty attracting skilled workers to the region and growing demands from customers for sustainability certifications. The potential buyer, Konrad, believed he had a joker up his sleeve with Georg, an experienced operating manager, family confidant and potential co-investor. Negotiations proved complex until the duo was able to bypass the broker and establish direct links to the seller. A deal was ultimately closed, involving not only a significant earnout element from the seller but also 90% leverage offered by local banks, with strenuous covenants. Nonetheless, fundamental questions remained after the deal: Had the buyer paid the right price and established the proper structure to ensure long-term success? Closing was only the first battle: Could Qualios grow fast enough to service the debt, repay the vendor loan and justify the price tag – all while honoring the company legacy that mattered so deeply to the seller?

This qualitative study explores how individuals try on entrepreneurship during crisis. We discover that individuals use entrepreneurship as a way to envision a possible future in a moment when their occupational trajectory is upended. We reveal th...

The case places students in the role of LanzaTech's founder, Dr Sean Simpson, in April 2012. The company was built on the radical idea of using proprietary microbes to capture and convert carbon-rich waste gases from heavy industry (like steel mil...

Drawing on his recent IMD podcast with Amar Bhidé, IMD Professor of Management Stefan Michel debunks longstanding misconceptions about entrepreneurship.

ZURICH (SWITZERLAND), 14 JUNE 2024. The sustainability team at On had been on high alert as TV journalists were once again investigating some of its sustainability claims. Founded in 2010 by former Swiss Ironman champion Olivier Bernhard, the comp...

Global brands expert suggests simple ways for businesses to walk the tightrope between buzz and backlash in today’s divisive cultural and political landscape.

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.

There is another entrepreneurial world that is born not from opportunity but from necessity, and it has much to teach us.