“We will now break into groups. You have 30 minutes to tell the CEO of L’Oréal China how you plan to turn Yue Sai, their tired Chinese cosmetic brand, into a must-have for today’s Chinese women.” These are the instructions that I give to the MBAs and executives in my class when we discuss the latest case that I wrote. On their way to their cubicles, some of the students are already talking about how they plan to leverage Youku and Taobao to appeal to reach Chinese teenagers. Others, however, have that puzzled look of someone who has no idea about even where to start. Read more.