Entrepreneurship | Entrepreneurship and Innovation
Shlomo Maital, D.V.R. Seshadri, Swati Sisodia
The case delineates the journey of L.V. Prasad Eye Institute (LVPEI), which evolved to become the biggest rural eyecare network, and it is amongst the most well-known eyecare providers in the world. Established in the year 1987 in the city of Hyderabad, India, LVPEI had been known internationally for its quality of eye care. As part of its vision, it treats half of its patients free of cost by adopting the cross-subsidization model. It developed the unique 'Pyramid Model' to serve the last mile population. The subject of Strategy and Innovation is riddled with paradoxes. A paradox is typically a pair of opposites, that have to be creatively reconciled, ensuring that both the opposites are simultaneously true. The case is set in the year 2018, and the key highlight of the case is to showcase how LVPEI has reconciled the hierarchy of paradoxes, i.e., strategy paradoxes, and innovation paradoxes during its 30 years journey and achieved excellence in eye care. The vital question of how LVPEI can sustain continued innovative excellence has emerged now. The senior management of LVPEI has to chart their way forward for the coming 30 years, reconciling the hierarchy of paradoxes. These paradoxes are elusively described in the case. Students would need to identify the paradoxes and think through LVPEI's journey ahead by reconciling them.
Objective: This case is ideal for modules on strategy, entrepreneurship, innovative business models, innovation in health care, leadership, and strategic thinking for both MBA and executive MBA participants. Specific objectives of the case are: To understand the strategic and innovation paradoxes; How to foster innovation in an organization; Discuss an innovative Business model (cross-subsidization) in healthcare; Staying true to the founder's core purpose in the face of leadership change.
07 Apr 2020
Subjects: Entrepreneurship, Innovation, Leadership, Managing creativity & innovation, Strategic thinking, Strategy
Published on Apr 7, 2020