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• Case | HBS Case Collection | 2013 (Revised from original 2011 version)

  Vehbi Koç and the Making of Turkey's Largest Business Group

  Asli M. Colpan and Geoffrey Jones

  The case describes the creation of Turkey's largest business group by Vehbi Koç. The foundation of this group in the interwar years, and its subsequent diversification into many industries, including automobiles, household goods, and services, is analysed. The case serves as a vehicle to explain why diversified business groups are so important in emerging markets such as Turkey. It explores the role of market imperfections, government policies and entrepreneurial ambition in their creation, as well as the organizational challenges posed by managing such diversified firms owned by a family. Much of the firm's growth came from licensing and joint venture agreements with multinational firms which were unable, or unwilling, to invest directly in Turkey because of political risk and government restrictions. The case ends in 1988, when the founder has received a report from the management consultancy Bain calling for the firm to reduce the range of activities it undertakes because of the competitive challenges resulting from the liberalization of the Turkish economy.

  Keywords: Emerging Markets; Entrepreneurship; Globalization; Organizational Structure; Diversification; Manufacturing Industry; Turkey;

  Citation:

  Colpan, Asli M., and Geoffrey Jones. "Vehbi Koç and the Making of Turkey's Largest Business Group." Harvard Business School Case 811-081, April 2013. (Revised from original June 2011 version.)

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• Technical Note | HBS Case Collection | 2012

  Early Career LBOs Using the Search Fund Model

  Howard Stevenson, Michael Roberts and Jim Sharpe

  The funded search model is one alternative for individuals who, at some point in their career, want to run their own companies. This note looks at the funded search, as a means to entrepreneurship through acquision and describes the path to buy and run a business using debt and equity as a means of financing the purchase. While applicable to an early career choice, many of the process steps are applicable to unfunded searches at later stages of a career.

  Keywords: Search Funds; search; leveraged buyouts; entrepreneurial finance; investor behavior; career planning; entrepreneurial management; fundraising; negotiation; Entrepreneurship; Capital Structure; Borrowing and Debt; Personal Development and Career; Private Ownership; Acquisition; Finance; Leveraged Buyouts;

  Citation:

  Stevenson, Howard, Michael Roberts, and Jim Sharpe. "Early Career LBOs Using the Search Fund Model." Harvard Business School Technical Note 813-119, December 2012.

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• Case | HBS Case Collection | 2012 (Revised from original 2012 version)

  Dragonfly Corporation

  Howard H. Stevenson and Jim Sharpe

  After 3 years of losses and under legal threats from their landlord, a husband and wife team are faced with shutting the company down, buying time with the landlord or turning to their parents for additional funds. Despite opening a new location and seeing that sales were up from last year, their financial statements were still reporting losses forcing them to consider what steps to take to turn children's retail clothing business around.

  Keywords: entrepreneurship; entrepreneurs; entrepreneurial management; turnarounds; bankruptcy; bank loan; crisis management; family business; retail trade; financial crisis; financial analysis; Entrepreneurship; Insolvency and Bankruptcy; Retail Industry; United States;

  Citation:

  Stevenson, Howard H., and Jim Sharpe. "Dragonfly Corporation." Harvard Business School Case 813-042, November 2012. (Revised from original July 2012 version.)

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