Annual Report 2011

From the Dean

Dear Friends,

I am pleased to share with you the 2011 Annual Report for Harvard Business School. Our aim in assembling this document each year is twofold. The first and foremost objective is to provide you with a detailed look at our financials, including our revenues and expenses and an overview of the School's economic model. This past year, as you'll see, the School's recovery from the 2008 recession continued, with both our Publishing and Executive Education groups doing better than expected in sectors that continue to face challenges.

An equally important objective for the report is to give you a window into, and feel for, the key areas of the School—such as, for example, our educational programs, faculty and research, and new initiatives—and a sense of how we are making progress toward our strategic objectives. This past year, an important focus for us was laying the groundwork for the five priorities we identified for the School. That meant, for instance, designing and building out the ten classrooms (we're calling them hives to reflect the nature of work they'll enable) in Batten Hall at 125 Western Avenue to support the emerging ideas for innovation in the MBA Program. It also meant preparing to launch the Harvard Innovation Lab, a new space to enhance and foster the entrepreneurial energy of students throughout Harvard University.

At the same time, we did not lose focus on our core activities. Beneath the data presented here are thoughtful initiatives to enhance the foundational work of the School—whether attracting and retaining a diverse and talented faculty and staff, bringing to campus outstanding students and participants, redefining the library of the 21st century, investing in our technology infrastructure, building out our Publishing platform, or thinking carefully about how our campus can continue to enrich the learning experience and culture of our community.

It is a remarkable time to be at Harvard Business School. Thank you for your interest in and support of our efforts.

Nitin Nohria
Dean of the Faculty

Dean Nohria