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• Case | HBS Case Collection | October 2019

  Serbia at a Crossroads

  Sophus A. Reinert, Federica Gabrieli and Jyotika Banga

  In the fall of 2018, Serbia found itself at a crossroads yet again. Following the Balkan Wars of the 1990s and the collapse of Yugoslavia, the country had embarked on a slow and arduous process of accession to the European Union (EU). This had been further hampered by the country’s tortuous relations to its breakaway province of Kosovo, one of several regions fighting for political independence at a time when the continent itself was seeking greater economic and political integration in the form of the EU. Support for the EU accession was falling in Serbia, however, also in light of the increasing presence in the country of Russian and Chinese interests and investments. But would the country eventually have to pick a side amidst the rapidly changing geopolitics of the early twenty-first century?

  Keywords: geopolitics; EU accession; Economic Systems; Government and Politics; Serbia;

  Citation:

  Reinert, Sophus A., Federica Gabrieli, and Jyotika Banga. "Serbia at a Crossroads." Harvard Business School Case 720-004, October 2019.  View Details

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• Case | HBS Case Collection | September 2019

  JTC: Stronger Together with Shared Ownership

  Ethan Bernstein and Daniela Beyersdorfer

  Nigel Le Quesne, CEO of Jersey-based financial services firm JTC, firmly believed that "shared ownership" was at the heart of his company’s successful track record. The firm had seen its revenues, profits, and number of clients and staff grow steadily throughout its over 30-year history, and management attributed much of its competitive edge to its culture in which engaged employee owners had fully aligned interests and collaborated for the greater good of the firm. Le Quesne had seeded the first employee benefit trust with some of his own equity when becoming CEO in 1998, making all employees—from the receptionists to top executives—direct shareholders in the firm. Over time, the employee owned equity had grown from 5% to 23% and the trusts created significant value that had already been directly distributed to employees in two past pay-out events. In 2018, after JTC’s successful IPO, Le Quesne and his leadership team have to decide if and how to adjust the shared ownership tools to their new public markets environment.

  Keywords: Ownership; Employee Ownership; Leadership Style; Compensation and Benefits; Organizational Culture; Employee Stock Ownership Plan; Going Public; Mission and Purpose; Management Practices and Processes; Human Resources; Financial Services Industry; Channel Islands; Europe; United States;

  Citation:

  Bernstein, Ethan, and Daniela Beyersdorfer. "JTC: Stronger Together with Shared Ownership." Harvard Business School Case 420-008, September 2019.  View Details

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• Case | HBS Case Collection | November 2018 (Revised June 2019)

  The Rise of Populism and Italy's Electoral 'Tsunami'

  Rawi Abdelal, Dante Roscini and Elena Corsi

  Italy’s March 2018 elections led to a populist government that included the right-wing League and the anti-establishment 5 Star Movement. To respect their electoral promises, the two parties came up with a budget plan that provided for a public deficit at 2.4%, a figure higher than what the previous administration had promised the EU Commission. On October 23, 2018, the EU Commission rejected the plan asking Italy to revise downwards the public deficit. The same day, Italian bond yields spoke to 4-year highs, up to 3.7% as investors questioned Italy’s capacity to repay its public long-term debt, the second highest in the EU. Would the Italian government be able to implement its plan?

  Keywords: globalized economies; unemployment; extremism; Political Elections; Immigration; Poverty; Social Issues; Government and Politics; Financial Condition; Financial Markets; Italy;

  Citation:

  Abdelal, Rawi, Dante Roscini, and Elena Corsi. "The Rise of Populism and Italy's Electoral 'Tsunami'." Harvard Business School Case 719-042, November 2018. (Revised June 2019.)  View Details

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