Cash is King:
Working Capital Management
in Times of Crisis


Case by
Luca Gelsomino PhD
Christiaan de Goeij MSc
& Ed Weenk MPDEng

Access complete online case for free:

Cash is King: Working Capital Management In Times of Crisis


The COVID-19 crisis is disrupting global supply chains, financial markets and the day-to-day operations of businesses all over the world. Now more than ever, a company’s need for capital can come quickly and unpredictably. As a result, there is a real risk for otherwise healthy companies to run out of cash. What can businesses do to safeguard their cash flow, working capital and ultimately their company?

Case Description

Take your students into the simulation game ‘The Cool Connection’ for an immersed case study on Working Capital Management during COVID-19.

In ‘The Cool Connection’, students take on the role of consultant and are asked to deal with urgent cash flow problems at a multinational cosmetics company. Accompanied by a Harvard-style Teaching Case, students are asked to understand and measure the impact of the crisis on the company’s supply chains. Based on their findings, students make policy recommendations to face the disruptions.

Learning Objectives

This teaching case is designed for Working Capital Management courses. With this teaching case, students are challenged to learn and practice:

  • how to analyze a company’s supply chain through flowchart mapping
  • how to analyze short-term supply chain risks and changes in customer demand
  • how to develop mitigation strategies for both short- and long-term supply chain risks

What’s included in this FREE online teaching case?

  • Harvard-style teaching case on Working Capital Management and COVID-19
  • Access for educators and students to online business game ‘The Cool Connection’
  • Class discussion points
  • Comprehensive teaching notes
  • Introduction video about ‘The Cool Connection’
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