Perfect Day was a rising cellular agriculture company specializing in lab-based milk. Its founders had created and patented a formula for an ingredient that could produce authentic-tasting non-dairy products. At the beginning of 2020, the US-based firm received US$140 million in funding, and the founders had to navigate a complex operating and stakeholder environment to map out a growth strategy. The complex situation required them to answer related questions that were easy to understand but difficult to answer. First, the founders would have to chart the expected evolution of the lab-based milk industry as it moved to the full roll-out of products. The founders would next have to decide on Perfect Day’s positioning in its changing industry. Finally, they would have to assess the myriad players, both as stakeholders and as potential alliance partners, in order to support the strategic positioning decision.
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