More from these Authors

• Teaching Plan | HBS Case Collection | 2013

  Fonterra (TP)

  David E. Bell, Mary Shelman and Annelena Lobb

  Citation:

  Bell, David E., Mary Shelman, and Annelena Lobb. "Fonterra (TP)." Harvard Business School Teaching Plan 513-024, April 2013.

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• Article | Management Science | April, 2013

  Overcoming Resistance to Organizational Change: Strong Ties and Affective Cooptation

  Julie Battilana and Tiziana Casciaro

  We propose a relational theory of how change agents in organizations use the strength of ties in their network to overcome resistance to change. We argue that strong ties to potentially influential organization members who are ambivalent about a change (fence-sitters) provide the change agent with an affective basis to coopt them. This cooptation increases the probability that the organization will adopt the change. By contrast, strong ties to potentially influential organization members who disapprove of a change outright (resistors) are an effective means of affective cooptation only when a change diverges little from institutionalized practices. With more divergent changes, the advantages of strong ties to resistors accruing to the change agent are weaker, and may turn into liabilities that reduce the likelihood of change adoption. Analyses of longitudinal data from 68 multi-method case studies of organizational change initiatives conducted at the National Health Service in the United Kingdom support these predictions and advance a relational view of organizational change in which social networks operate as tools of political influence through affective mechanisms.

  Citation:

  Battilana, Julie, and Tiziana Casciaro. "Overcoming Resistance to Organizational Change: Strong Ties and Affective Cooptation." Management Science 59, no. 4 (April, 2013): 819–836.

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Preem (A)

  Bo Becker, Annelena Lobb and Aldo Sesia

  High yield bond fund Proventus Capital Partners (PCP) has invested in underwater bonds issued by Preem, a large oil refinery. As maturity approaches, in the midst of financial crisis, Preem appear unlikely to be able to refinance. Meanwhile, Prreem has a complicated multi-currency capital structure with both senior, secured bank loans and junior bonds. PCP has to decide whether to push for bankruptcy in a European court, or to push for out of court renegotiations. The case is a tool for studying the difference between liquidity problems and solvency problems, weighing bankruptcy vs. out of court restructuring, and dealing with negotiations between creditors.

  Keywords: Insolvency and Bankruptcy; Financial Liquidity; Restructuring; Courts and Trials; Negotiation; Bonds; Mining Industry; Energy Industry; Europe;

  Citation:

  Becker, Bo, Annelena Lobb, and Aldo Sesia. "Preem (A)." Harvard Business School Case 213-008, March 2013. (Revised from original August 2012 version.)

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