CBE Professors Kouchakdjian and Galstyan Publish Case Study on WineWorks

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A Tribute to the World-Renowned Professor J Barkev Kasserjian

YEREVAN, Armenia — The American University of Armenia (AUA) Manoogian Simone College of Business and Economics (CBE), a leader in case-based teaching and learning in Armenia, proudly announces the publication of a new business case study “WineWorks: Catalyzing the Rebirth of the Armenian Wine Industry,” authored by Professor and the Director of Entrepreneurship and Product Innovation Center, Dr. Michael Kouchakdjian, and Adjunct Lecturer and Governor of the Central Bank of Armenia, Dr. Martin Galstyan. This case study was published in the most recent volume of Case Focus (Issue 4), an acclaimed international journal dedicated to management and business topics.

Case-based teaching is a leading approach used in many disciplines at universities worldwide, providing real-world relevance and encouraging students to tackle complex business situations using a holistic approach. As such, case-based learning develops students’ active learning skills and advances their decision-making abilities under uncertainty while encouraging collaboration and teamwork among them. Like other world-class colleges, CBE uses the case-based teaching approach, significantly contributing to the overall delivery and effectiveness of its courses and duly increasing the value derived by students. 

Through their meticulous depiction of the case, the WineWorks authors examine the revival of the Armenian wine industry, showcasing Vahe Keushguerian as the driving force behind this resurgence. The case delves into the intricacies of developing the right business strategy amid rapid growth. It explores the vital role of technology transfer, foreign investment, and human capital in nurturing a burgeoning industry. Keushguerian’s rise to the challenge of exporting Armenian wine to China is the focal point of the study, entailing numerous options, encounters, and considerations for developing the right strategy to seize the opportunity and scale up production.

By utilizing this case, students will not only gain a deeper understanding of Armenia but also be able to explore the dynamic landscape of its wine industry. Notably, institutions like the University of Mons in Belgium, where CBE Professor Theofanis Varvoglis recently lectured, have embraced this case study as a valuable educational resource in their academic programs.

The case study offers a comprehensive account of the rebirth of the Armenian wine industry, highlighting its significance as a prominent sector in the country. At the heart of this revival is Vahe Keushguerian, a wine expert who returned to Armenia from the US and Italy to spearhead the efforts. Through this case, students gain valuable insights into the convergence of macroeconomic and industry development factors in a developing country, coupled with the intricacies of business strategy during a phase of rapid growth. Moreover, students witness the pivotal role played by technology transfer, foreign investment, and human capital in fostering the development and expansion of a rising industry. The primary focus of the case centers around Keushguerian’s exceptional opportunity to export Armenian wine to the burgeoning Chinese market. However, he must grapple with various challenges associated with this prospect, all while considering personal concerns linked to the twilight of his successful career and the matter of family succession. The case study immerses readers in the captivating challenges faced by Mr. Vahe Keushguerian, the founder of WineWorks and the central figure in the case. It explores the challenge of delivering hundreds of thousands of bottles of Armenian wine to the burgeoning Chinese market. Students will need to evaluate the strategies and options and propose courses of action available to Mr. Keushguerian. The case looks ahead, as projections indicate that customer orders are poised to surge to millions of bottles in the coming years, surpassing Armenia’s current production capacity. Consequently, strategic thinking and meticulous planning become imperative to seize this opportunity while addressing the complexities, challenges, and dilemmas of scaling up production and ensuring sustainable growth.

The WineWorks study was written in collaboration with J. Barkev (JB) Kassarjian, a globally recognized expert in case writing and case presentation. In the introduction by Case Focus, the journal that published this case, Editor-in-Chief and CEO of The Case Centre, Vicky Lester, pays tribute to JB Kassarjian, “I’d also like to honor JB Kassarjian, co-author of the last case on an Armenian wine producer (the last case in that volume of the journal). JB sadly passed away after a short illness in May 2023. He was deeply committed to the case method, both as an instructor and as the author of many cases and accompanying materials. I’m proud that this issue of Case Focus can showcase the final piece of JB’s case legacy.” 

This tribute by The Case Centre is echoed by the lead authors of the case. Professors Kouchakdjian and Galstyan state, “Barkev’s contribution to this case was immense. Although both of us use case studies extensively in our teaching, this was our first attempt at writing a case study. Barkev’s patience, steady guidance, and continued encouragement helped us to write a high-quality case that highlights important aspects of business management, entrepreneurship, and industry development. Barkev also cared deeply about Armenia, visiting at least once annually and always, with enthusiasm and affection, joining in our long discussions about Armenia’s future. His final work is a fitting legacy of his love for Armenia and for case writing and teaching.” 

JB Kassarjian was professor emeritus of Management at Babson College in Massachusetts and professor emeritus of Strategy and Organization at the renowned International Institute for Management Development (IMD) in Lausanne, Switzerland. Professor Kassarjian has made significant contributions to IMD starting in the mid-1980s, concurrently holding a position at Babson College, where, besides teaching, he served as chair of the Management Division from 1981 to 1987. Prior to that, he distinguished himself as a respected faculty member at Harvard Business School.

Throughout his illustrious career, Professor Kassarjian demonstrated an unwavering dedication to the case method, both as an esteemed instructor and as the author of numerous influential cases and accompanying materials. Notably, his exceptional case study, “Shaping Spaarbeleg: Real and Unreal,” was awarded the prestigious Case Award in the Policy and General Management category in 2000. Furthermore, his collaborative work with longtime colleague Professor Kamran Kashani on the Sony Europa case series garnered widespread acclaim, becoming a perennial bestseller across multiple years (https://www.imd.org/faculty/professors/j-barkev-kassarjian/).

CBE Dean Dr. Gabrielyan maintains that the College highly values teaching through contextualized knowledge that students can relate to. From this perspective, the publication of the WineWorks case study is a welcome resource since it can be used in multiple classes at AUA that address the different business concepts it tackles. 

In summary, this important new publication (along with the accompanying teaching and industry notes), available at The Case Centre, portrays the academic excellence and international prominence of AUA CBE faculty. The invaluable contribution of Dr. Michael Kouchakdjian, Dr. Martin Galstyan, and the late JB Kassarjian has added new knowledge to the field and expanded the wealth of business case studies for student analysis. Undergraduate and graduate students at AUA and elsewhere around the world will gain insightful perspectives from the WineWorks case and augment their understanding of business concepts and perspectives.

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.