Abstract

TSL is a family business in a traditional jewelry industry in Hong Kong that is being driven to change by many external and internal factors. This scenario, which is faced by many businesses, can be challenging when perceived from a conventional corporate mindset. To design a future for TSL, the management team needs to embrace an entrepreneurial mindset and build the “new company” by starting from basic principles, then completely re-think how to focus on providing value to new as well as existing customers through innovative products, service, and operating procedures.

The case is set in early 2016, when TSL was facing increased competition, new price sensitivity among its customers, and industry changes. Issues raised in this case are quite broad and could be useful in a wide range of courses, including Strategy, Marketing, and Organizational Behavior. The case could be used as part of a discussion on innovation, strategy, business development, change management, family businesses, company culture, branding, or similar topics.

The students are asked to take the viewpoint of Annie Yau Tse, the new Chairman, on how to move forward in this environment. Remarkably, Annie is the daughter-in-law of the patriarch/founder, and had little experience in the industry. Her background and training is in information technology. She brought a fresh viewpoint and the courage to institute dramatic changes in the management of operations.

Learning Objectives

The learning objectives for the students are:

1. Develop awareness of issues that businesses face when adapting to change

2. Determine needs for re-structuring the management team to implement innovative corporate strategy

3. Develop strategies for updating and enhancing an established brand to maintain relevance

To have a meaningful experience, students will need to embrace the entrepreneurial mindset and see themselves as leaders, not just managers.