Each year, the EFMD Case Writing Competition celebrates the power of storytelling in management education. The 2024 edition showcased an impressive collection of cases spanning industries, regions, and institutions, all reflecting remarkable innovation, depth, and impact.

We continue this special interview series by spotlighting the voices behind these outstanding cases and celebrating their meaningful contributions to management development.

In this interview, we are pleased to feature Rajani Ramdas from Manipal Academy of Higher Education, winner in the “Finance and Banking” category.

‘Dune Technologies: An Enchanting Dream or a Dreadful Nightmare?’

1. Could you briefly introduce yourself and share your academic and/or professional background?

I’m Dr. Rajani Ramdas, a Finance and FinTech professor with over 16 years of teaching experience in undergraduate and postgraduate programs. I hold a Ph.D. in Finance, with a focus on corporate restructuring, along with an MBA and a Postgraduate Diploma in Business Administration in Finance. Currently pursuing an FMVA certification from Corporate Finance Institute (CFI), UK. I’ve been an avid case writer in the area of corporate valuation, financial management and entrepreneurship to name a few. My goal is to bridge academia and industry through innovative teaching, research, and consultancy.

2. What personal or professional experiences inspired you to write this particular case?

A casual conversation with one of my MBA students during a New Venture Finance session at Manipal Academy of Higher Education, Dubai, inspired the creation of an award-winning case study. The protagonist, a student in the class, shared a compelling perspective on a startup’s financing challenges, igniting my passion for writing a case on this company. Having taught finance courses for over 16 years, I’ve often found existing cases lacking in alignment with my course objectives and student engagement needs—an initial spark that drove me to craft my own cases. This discussion with the protagonist motivated me to develop a case centered on a fresh, dynamic concept tied to an industry that captivates students.

3. What story were you aiming to tell through your case, and why do you believe it resonates today?

As case writers, we aimed to craft a narrative around Arar Infra Contracting Co. LLC’s strategic decision to enter the emerging cloud-based fire alarm systems (CloudFAS) market in the UAE through Dune Technologies. The story follows Kasim, who pitches an ambitious plan to the board, highlighting the tension between innovation and tradition, opportunity and risk. It explores Arar’s potential to leverage its infrastructure expertise in a technology-driven sector, emphasizing themes like early-mover advantage, financial feasibility, and alignment with the UAE’s smart city vision. The case delves into the complexities of securing funding, navigating regulations, and competing while Kasim grapples with convincing a skeptical board wary of diverting resources from Arar’s core business, especially with new tenders from others.

This case resonates today due to its focus on smart technologies like IoT and AI, which are central to global urban innovation, particularly in the UAE’s push for smarter, safer cities. The narrative captures the universal challenge of entering nascent markets, balancing ambition with financial discipline through tools like capital budgeting and sensitivity analysis. It reflects ongoing debates about diversification versus specialization, relevant to firms navigating rapid industry changes. The UAE’s context—its urban density, fire safety needs, and economic growth—amplifies the story’s relevance, making it a compelling study of leadership, risk, and strategic decision-making in a dynamic, high-growth environment.

4. How did working on this case challenge or shift your perspective as an educator or researcher?

The process of developing a case study about Arar Infra Contracting Co. LLC’s potential entry into the cloud-based fire alarm systems (CloudFAS) market in the UAE required a deep dive into a niche, technology-driven industry, strategic decision-making, and financial analysis, which pushed me to refine my approach to teaching and research. The primary challenge was synthesizing complex technical, financial, and market data into a cohesive narrative that was engaging yet rigorous enough for classroom discussion. Balancing the need to provide sufficient detail—such as Kasim’s financial assumptions, UAE tax regulations, and industry growth projections—with the goal of leaving room for ambiguity to spark debate was difficult.

As an educator, it reinforced my belief in the value of case-based learning to develop critical thinking, as students must wrestle with incomplete information, much like Kasim does in the boardroom. It also deepened my appreciation for interdisciplinary teaching, as the case integrates elements of finance, strategy, technology, and regional business dynamics, encouraging students to connect concepts across domains.

The case also challenged my assumptions about corporate diversification, as Arar’s dilemma—whether to invest in a risky new venture or focus on its core business—underscored the nuanced trade-offs firms face. This shifted my research lens toward exploring how contextual factors, like regional regulations or cultural attitudes toward risk, shape strategic decisions. Ultimately, working on this case strengthened my commitment to creating research and teaching tools that bridge theory and practice, preparing students and scholars to navigate complex, real-world business challenges.

5. If there’s one key insight or message you would like readers or students to take away from your case, what would it be?

The key insight I want readers and students to take away from the case is that strategic decision-making in emerging markets requires balancing bold innovation with rigorous financial and operational planning. The case of Arar Infra Contracting Co. LLC and Dune Technologies illustrates that while opportunities in cutting-edge fields like cloud-based fire alarm systems (CloudFAS) can be transformative, success hinges on thoroughly assessing risks, securing funding, and aligning with market and regulatory realities. This teaches the importance of grounding visionary ideas in data-driven analysis to navigate uncertainty and achieve sustainable growth.

The Sponsor’s Commentary

The category “Finance and Banking” is kindly judged by The Case Centre. EFMD deeply appreciates the invaluable expertise and the dedicated efforts of The Case Centre in supporting the Case Writing Competition. Vicky Lester tells us more about the winning case:

1. Could you share a brief overview of your institution?

The Case Centre is the independent home of the case method. As a not-for-profit organisation and registered charity, we are dedicated to advancing the case method worldwide, sharing knowledge, wisdom, and experience to inspire and transform business education across the globe.

Founded in 1973, The Case Centre holds and distributes the world’s largest and most diverse collection of management cases, articles, book chapters, and teaching materials. Our collections include materials from leading business schools across the globe. We also provide a range of services to support the global case community: from access to materials and distribution to recognition programmes, workshops, awards, and knowledge resources.

The case method is a cornerstone of management education, fostering critical thinking, decision-making, and real-world problem-solving skills. By ensuring educators and students have access to high-quality, accessible materials and training, we play a critical role in shaping the next generation of business leaders.

We work globally with over 1,500 academic organisations, educators, and case writers, supporting excellence in management education. Through initiatives like our Impact Index and case awards, we recognise and promote best practice in case writing and teaching, further strengthening the case community worldwide.

Our core values of passion, independence, collaboration, continuity, innovation, and support guide our work in the case community, with partners, and with each other.

2. What inspired your institution to keep supporting the EFMD Case Writing Competition?

Supporting the EFMD Case Writing Competition aligns with our mission and core values. We’re thrilled to have the opportunity to recognise high-quality educational materials that are enriching business education. We hope that our contribution reflects our commitment to advancing the case method, sharing knowledge and innovative ideas, while celebrating best practices.

3. What trends or challenges in the business world make this category especially relevant right now?

4. What stood out to you most about the winning case in your sponsored category this year?

There were a number of high-quality cases to choose from this year, all well written and with teaching notes that were well-structured.

What stood out to me about the winners in each category was that they reflected what’s currently going on in our wider societal context. Bringing real-world business dilemmas into the classroom is what the case method is all about.

What’s more, the winning cases all had high-stakes dilemmas at their core that, I think, will spark discussion and get students participating.

Add to that, each winner had an opening hook that grabbed my attention straight away. Leading on to an engaging story that I quickly became invested in. If I’m reading a case and I can’t look away because I need to find out what happens next, I’m usually onto a winner.

About Sponsorship

EFMD Case Writing Competition is proud to have dedicated sponsors who drive management education towards impactful teaching and learning. Sponsoring a category allows you to showcase your institution’s expertise in the specific field of management education in the wide EFMD network. The choice of category, its exact definition and any specific conditions are the privileges of the sponsor. Sponsorships for the following categories are currently available: Bringing Technology to Market, Continuous Improvement: the Journey to Excellence, and Finance and Banking. If you are interested in sponsoring the mentioned categories or launching a new category relevant to case writing and teaching, please contact Petra Grestenbergerova at petra.grestenbergerova@efmdglobal.org.

More information about the 2024 EFMD Case Writing Competition can be found on the EFMD Case Writing Competition page. Please visit The Case Centre’s webpage to access the collection of the winning cases. See other interviews from this series.