Each year, EFMD celebrates influential contributions to management development through the Case Writing Competition. The 2023 edition showcased a remarkable array of winning cases from diverse industries. To delve deeper into the stories behind these achievements, we spoke with the winners about their motivations, inspirations, and the challenges they overcame.

In this interview, we feature Hubert Pun, the winner of the “Finance & Banking” category.

“Royal Bank of Canada: Bitcoin Mining and Climate Change?'”

Can you briefly introduce yourself and share your academic or professional background?

Professor Hubert Pun is the J. Allyn Taylor/Arthur H. Mingay Chair and the PhD Program Director at the Ivey Business School at Western University. He is widely recognised for his expertise in blockchain business applications, having made significant contributions to the field through his research. Hubert’s dedication and scholarly impact on blockchain business application were honored with the Western Faculty Scholar Award. His work not only advances academic understanding but also bridges the gap between theoretical concepts and practical implementations in the industry.

What inspired you to develop this particular case study?

Understanding disruptive technologies like Bitcoin and blockchain is crucial for business leaders; if they don’t disrupt, they risk being disrupted. However, at the same time, Bitcoin mining, the process of validating transactions, has significant environmental impacts due to its high energy consumption. This has raised concerns about sustainability, prompting discussions on balancing technological advancement with environmental responsibility. The purpose of this case is to provide resources for professors, enabling them to effectively teach this vital topic to future business leaders, ensuring they are well-prepared for the challenges ahead.

What were the biggest challenges you faced during the research and writing process, and how did you overcome them?

Usually, the most challenging aspect of writing a case is establishing meaningful connections with industry practitioners. Fortunately, this case originated from a class project in the Executive MBA program by Karim Hamasni (one of the coauthors and the head of Crypto Asset Innovation at Royal Bank of Canada). His direct involvement and industry expertise significantly facilitated the process, providing invaluable insights and practical perspectives that enriched the case study. This collaboration underscores the importance of integrating academic projects with real-world industry experience to produce relevant and impactful educational materials.

How do you hope your case study will impact future learners and educators in your field?

As Bitcoin’s popularity surges, more people are eager to adopt it. However, the environmental impact of Bitcoin mining, due to its high energy consumption, raises significant concerns. This case aims to teach business leaders to understand the multifaceted tradeoff of Bitcoin mining, ensuring informed decision-making.

The Sponsor’s Commentary

The category “Finance & Banking” is kindly sponsored by Portsmouth Business School. EFMD deeply appreciates the invaluable sponsorship, the profound expertise, and the dedicated efforts of Portsmouth Business School in supporting the Case Writing Competition.

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 Latin American Business Cases. 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 2023 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.