Learning (and Unlearning) as a Strategy: How Multiply Group Transformed from a Marketing Agency to a Global Investment Holding Company

This case offers a platform to discuss (1) how businesses can develop a learning culture that fuels growth and creates a lasting competitive advantage, and (2) what leading with a learning mindset looks like. It describes the remarkable transformation of Multiply Group from a niche marketing consultancy into a multi-billion-dollar diversified investment holding company. Founded in Abu Dhabi in 2003 as Multiply Marketing Consultancy (MMC), the company evolved as a result of strategic acquisitions, bold leadership decisions, and developing a company-wide learning mindset. Readers step into the shoes of Samia Bouazza, CEO of Multiply Group, as she transitions from a service-driven business to a high-growth investment powerhouse. Through discussion and short group work, students examine how to turn learning into a strategic asset—that not only fosters adaptability but positions an organization to thrive in fast-changing markets. The case unpacks how Multiply institutionalized knowledge-sharing fostered a "learning-by-doing" approach, encouraged unlearning of outdated practices, and embedded a culture of intellectual curiosity into strategic decision-making. From high-stakes investment decisions to IPO preparation, Multiply’s learning culture became a key differentiator, allowing the company to scale beyond its origins and compete on a global stage. Designed for courses on leadership, transformation, corporate strategy, entrepreneurship, and organizational change, the study prompts a compelling discussion on managing business reinvention, scaling through acquisitions, and fostering a learning culture. Participants engage with themes of decision-making under uncertainty, instilling a growth mindset, and the rewards of digital transformation in investment strategies.

- How learning cultures drive business reinvention and resilience. - The role of curiosity in leadership and strategic decision-making. - Balancing unlearning with new capability-building during transformation. - Scaling a learning culture in a high-growth environment. - Linking knowledge-sharing and talent development to competitive advantage