Robert G. Eccles

Professor of Management Practice

Unit: General Management

Contact:

(617) 495-8585

Send Email

Robert G. Eccles first joined the faculty in 1979 and received tenure in 1989. He left in 1993 to work in the private sector and rejoined the faculty in 2007. Right after receiving tenure, Professor Eccles started doing research on corporate reporting, a topic which remains of great interest to him from a research, managerial practice, and public policy perspective. He has written three books on this subject, The ValueReporting Revolution: Moving Beyond the Earnings Game (with Robert H. Herz, E. Mary Keegan and David M. H. Phillips), Building Public Trust: The Future of Corporate Reporting (with Samuel A. DiPiazza Jr.), and One Report: Integrated Reporting for a Sustainable Strategy (with Michael P. Krzus), which is the first book on this subject. One Report was the winner of the 2010 PROSE award in the category of Business, Finance, & Management. He is a member of the International Integrated Reporting Council (http://www.integratedreporting.org/) and the founding Chairman of the Sustainability Accounting Standards Board (SASB) ( www.sasb.org). Dr. Eccles is the co-founder, with Professor George Serafeim of Harvard Business School, of the Innovating for Sustainability social movement (https://www.facebook.com/innovatingforsustainability), and a member of the Advisory Board of the Institute for Sustainable Value Creation (https://www.conference-board.org).

Professor Eccles continues his active research program on integrated reporting. His next book on the subject, The Integrated Reporting Movement: Meaning, Momentum, Motives, and Materiality (with Michael P. Krzus and Sydney Ribot) will be published in November 2014. This book introduces the ideas of an annual board of directors “Statement of Significant Audiences and Materiality” and the “Sustainable Value Matrix.” In developing these ideas, Professor Eccles worked closely with Mr. Tim Youmans.  He and Professor Eccles are now writing a book with the working title of “The Meaning of Materiality” which will be an in depth treatment of the ideas introduced in The Integrated Reporting Movement and will include a public policy perspective on the important but elusive concept of materiality. Youmans received his Master’s Degree in Public Administration from the Harvard Kennedy School (2013) and is a Harvard Kennedy School Lucius N. Littauer Fellow.

Professor Eccles is working on two other books. The first is in collaboration with Professor George Serafeim of the Harvard Business School with a working title of “Mobilizing the Global 1000.” This is based on an extensive and continuing research program on sustainability the two of them have been engaged in for the past three years. The premise of this book is that the increasing economic concentration in the world’s largest companies makes them a force even more important than governments in creating a sustainable society. Eccles and Serafeim have created an executive education program called “Aligning Sustainablity with Corporate Performance” and a doctoral seminar called “The Role of the Corporation in Society.”

The other book is on professional service firms, being written in collaboration with Professor Das Narayandas of Harvard Business School and Mr. Partha Bose, the author of “Alexander the Great's Art of Strategy: The Timeless Lessons of History's Greatest Empire Builder.”  The premise of this book, “Building Capabilities: Ensuring Long-Term Success in a Professional Service Firm,” is that professional service firms need to balance short-term capacity utilization with long-term capability building. The latter is done at the individual and organizational level by properly managing the talent market and the client market in an integrated way.

In 2011, Dr. Eccles was selected as one of the Top 100 Thought Leaders in Trustworthy Business Behavior - 2012 for his extensive, positive contribution to building trust in business.

Dr. Eccles received an S.B. in Mathematics and an S.B. in Humanities and Science from the Massachusetts Institute of Technology (1973) and an A.M. (1975) and Ph.D. in Sociology (1979) from Harvard University.


Featured Work

Publications

Books

  1. One Report: Integrated Reporting for a Sustainable Strategy

    "One Report" refers to an emerging trend in business taking place throughout the world where companies are going beyond separate reports for financial and nonfinancial (e.g., corporate social responsibility or sustainability) results and integrating both into a single integrated report. At the same time, they are also leveraging the Internet to provide more detailed results to all of their stakeholders and for improving their level of dialogue and engagement with them. Providing best practice examples from companies around the world, One Report shows how integrated reporting adds tremendous value to the company and all of its stakeholders, including shareholders, and also ultimately contributes to a sustainable society. Filled with case studies and the most current trends on integrated reporting, this book is an invaluable guidebook on the future of reporting and how this future can lead to a sustainable society.

    Keywords: Integration; Reports; Strategy;

    Citation:

    Eccles, Robert G., and Michael Krzus. One Report: Integrated Reporting for a Sustainable Strategy. New York: John Wiley & Sons, 2010. (Winner of PROSE Award for Excellence in Business, Finance & Management "For Professional and Scholarly Excellence" presented by Association of American Publishers.) View Details
  2. Building the Information-Age Organization: Structure, Control, and Information Technologies

    Keywords: Organizational Structure; Information Technology;

    Citation:

    Cash, J. I., Jr., R. G. Eccles, N. Nohria, and R. Nolan. Building the Information-Age Organization: Structure, Control, and Information Technologies. 3rd ed. Irwin Case Book Series in Information Systems Management. Irwin, 1994. View Details
  3. Instructor's Manual to Accompany Managing Behavior in Organizations: Text, Cases, Readings

    Keywords: Management; Behavior; Organizations; Information; Cases; Books;

    Citation:

    Schlesinger, Phyllis F., Leonard A. Schlesinger, Robert G. Eccles, and John J. Gabarro. Instructor's Manual to Accompany Managing Behavior in Organizations: Text, Cases, Readings. New York: McGraw-Hill, 1983. View Details

Journal Articles

  1. Companies and Investors Should See More of Each Other

    Company executives and institutional asset managers are increasingly working sustainability into their strategy and operations. Similarly, institutional asset managers are doing the same in constructing their portfolios. Yet both groups are doing this relatively independently of each other. These two groups should and will be seeing more of each other as sustainability matures.

    Keywords: sustainability; Environmental Sustainability; Growth and Development Strategy;

    Citation:

    Eccles, Robert G., and George Serafeim. "Companies and Investors Should See More of Each Other." Bloomberg.com (July 23, 2012). View Details
  2. The Impact of Corporate Sustainability on Organizational Processes and Performance

    We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 U.S. companies, we find that corporations that voluntarily adopted sustainability policies by 1993—termed as High Sustainability companies—exhibit by 2009 distinct organizational processes compared to a matched sample of companies that adopted almost none of these policies—termed as Low Sustainability companies. The boards of directors of High Sustainability companies are more likely to be formally responsible for sustainability, and top executive compensation incentives are more likely to be a function of sustainability metrics. High Sustainability companies are more likely to have established processes for stakeholder engagement, to be more long-term oriented, and to exhibit higher measurement and disclosure of nonfinancial information. Finally, High Sustainability companies significantly outperform their counterparts over the long-term, both in terms of stock market and accounting performance.

    Keywords: sustainability; Sustainability Management; Sustainability Research; sustainability reporting; sustainability targets; corporate social responsibility; corporate accountability; reporting; corporate governance; investor clientele; investor communication; stock market; Corporate Social Responsibility and Impact; Environmental Sustainability; Performance; United States;

    Citation:

    Eccles, Robert G., Ioannis Ioannou, and George Serafeim. "The Impact of Corporate Sustainability on Organizational Processes and Performance." Management Science (forthcoming). View Details
  3. A Tale of Two Stories: Sustainability and the Quarterly Earnings Call

    One of the challenges companies claim to face in making sustainability a core part of their strategy and operations is that the market does not care about sustainability, either in general or because the time frames in which it matters are too long. The response of investors who say they care about sustainability—and their numbers are large and growing—is that companies do a poor job in providing them with the information they need to take sustainability into account in their investment decisions. Whatever the merits of each view, the fact remains that an effective conversation about sustainability requires the participation of both sides of the market. There are two main mechanisms for companies to communicate to the market as a way of starting this conversation: mandated reporting and quarterly conference calls. In this paper, the authors argue that neither companies nor investors can be seen as taking sustainability seriously unless it is integrated into the quarterly earnings call. Until that happens, the core business and sustainability are two separate worlds, each of which has its own narrator telling a different story to a different audience. The authors illustrate their argument using the case of SAP, the German software company. SAP was the first company to host an "ESG Briefing," a conference call for analysts and investors held on July 30, 2013 in which the company discussed both its sustainability performance and how its sustainability initiatives were contributing to its financial performance. The narrative of this call was very similar to the narrative of the company's first "integrated report," which was issued in 2012 and presented the company's sustainability initiatives in the context of its operating and financial performance. However, the contents of the "ESG Briefing" and those of its traditional quarterly earnings conference calls were very different—and so were the audiences. Whereas the quarterly call was attended mainly by sell side analysts—and the words "sustainability" or "sustainable" failed to receive a single mention—the ESG briefing was delivered to an investor audience made up exclusively of the "buy side."

    Keywords: sustainability; Communication; Integrated Corporate Reporting; Investment; Environmental Sustainability;

    Citation:

    Eccles, Robert G., and George Serafeim. "A Tale of Two Stories: Sustainability and the Quarterly Earnings Call." Journal of Applied Corporate Finance 25, no. 3 (Summer 2013): 66–77. View Details
  4. The Performance Frontier: Innovating for a Sustainable Strategy

    By now most companies have sustainability programs. They're cutting carbon emissions, reducing waste, and otherwise enhancing operational efficiency. But a mishmash of sustainability tactics does not add up to a sustainable strategy. To endure, a strategy must address the interests of all stakeholders: investors, employees, customers, governments, NGOs, and society at large. To do that, it has to increase shareholder value while at the same time improving the firm's performance on environmental, social, and governance (ESG) dimensions. This article outlines a process that can be used to execute a sustainable strategy and extend the boundaries of The Performance Frontier.

    Keywords: sustainability; innovation; environment; governance; corporate reporting; corporate social responsibility; Governance; Strategy; Value; Corporate Social Responsibility and Impact; Performance; Environmental Sustainability; Innovation and Invention;

    Citation:

    Eccles, Robert G., and George Serafeim. "The Performance Frontier: Innovating for a Sustainable Strategy." Harvard Business Review 91, no. 5 (May 2013): 50–60. View Details
  5. Sustainability in Financial Services Is Not About Being Green

    Keywords: sustainability; financial services; financial services industry; banks; insurance companies; risk management; risk; accounting; Risk Management; Insurance; Accounting; Banks and Banking; Financial Services Industry;

    Citation:

    Eccles, Robert G., and George Serafeim. "Sustainability in Financial Services Is Not About Being Green." Harvard Business Review Blogs (May 15, 2013). View Details
  6. The Need for Sector-Specific Materiality and Sustainability Reporting Standards

    Even though the supply of sustainability information has increased considerably in the last decade, companies are still failing to disclose material information in a comparable format. We believe this has two downsides. On the one hand, companies are not adequately managing important business issues. On the other hand, risks to investors' portfolios, such as exposure to climate change, remain hidden. If this disclosure void continues to exist, the competitiveness of U.S. companies and its capital market will be at risk. While not a panacea, we believe that developing sector-specific guidelines on what sustainability issues are material to that sector and the Key Performance Indicators (KPIs) for reporting on them would significantly improve the ability of companies to report on their Environmental, Social and Governance (ESG) performance.

    Keywords: sustainability; reporting; accounting; standard setting; regulation; Environmental Sustainability; Accounting; Standards; Integrated Corporate Reporting; Corporate Disclosure; Competitive Advantage; Capital Markets; Accounting Industry; United States;

    Citation:

    Eccles, Robert G., Michael P. Krzus, Jean Rogers, and George Serafeim. "The Need for Sector-Specific Materiality and Sustainability Reporting Standards." Journal of Applied Corporate Finance 24, no. 2 (Spring 2012): 65–71. View Details
  7. How to Become a Sustainable Company

    Using field and survey data we identify the characteristics of sustainable companies, and we develop a two-stage model that can help companies develop a culture of innovation, trust, and the ability for transformational change.

    Keywords: sustainability; innovation; trust; leadership; Leadership; Environmental Sustainability; Organizational Culture; Innovation and Invention; Trust; Organizational Change and Adaptation;

    Citation:

    Eccles, Robert G., Kathleen Miller Perkins, and George Serafeim. "How to Become a Sustainable Company." MIT Sloan Management Review 53, no. 4 (Summer 2012). View Details
  8. Sustainability at Dow Chemical

    Dow Chemical Company, which was founded in 1894, is now the second-largest chemical company in the world. From the outset, the company has been committed to high-technology research and commercial innovation in chemistry, advanced materials, and agro-sciences. But if Dow's long history of innovation is impressive, the greatest change in the past few years has been the company's use of innovation to reinforce its commitment to sustainability. In 1996, the company produced its first set of 10-year sustainability-related goals. In an effort to meet such goals, the company invested a total of $1 billion in environmentally beneficial products such as new seeds and traits in Dow's AgroSciences business, solar shingles, and advanced battery technologies. Along with the social benefit of higher crop yields and reduced carbon emissions, the company's return on this investment has been estimated at $5 billion. The company was even more ambitious when setting its next set of 10-year goals in 2006. In this statement, Dow's leadership aimed to create a culture that saw sustainability as a business opportunity from the perspective of a "triple bottom line"—a performance evaluation scheme focused on "people, planet, and profit" that construes success in terms of social benefits, environmental stewardship, and economic prosperity. Dow is now starting the process of developing its third set of 10-year goals, with the aim of producing a plan that will ensure the viability of the company 50 years from now. With this end in mind, Dow's leaders understand their obligation to continue investing in the health and well-being of their employees, their communities, and the environment while still creating value for their shareholders.

    Keywords: Value Creation; Corporate Strategy; Chemicals; Environmental Sustainability; Innovation and Invention; Chemical Industry;

    Citation:

    Eccles, Robert G., Kathleen M. Perkins, and Mark Weick. "Sustainability at Dow Chemical." Journal of Applied Corporate Finance 24, no. 2 (Spring 2012): 38–44. View Details
  9. Is There an Optimal Degree of Sustainability?

    Corporate sustainability is not a one size fits all concept. A successful strategy balances all business pressures.

    Keywords: Corporate Social Responsibility and Impact; Strategy;

    Citation:

    Eccles, Robert G., Ioannis Ioannou, and George Serafeim. "Is There an Optimal Degree of Sustainability?" Ethical Corporation (February 2, 2012), 39–43. View Details
  10. The Role of The Board in Creating a Sustainable Strategy

    While conceptually elegant, the belief that a corporation's role is to maximize value for shareholders is under increasing challenge as society's expectations for companies change. An equally elegant new concept that takes account of these dual pressures has yet to emerge, but terms such as "corporate social responsibility," "shared value," "theory," and "sustainability" are being heard more and more. The high-level rhetorical gloss that good performance on environmental, social, and governance (ESG) dimensions results in good financial performance and value creation for shareholders is too simplistic. Sometimes this is indeed the case but often these decisions require tradeoffs, at least in the short-term. Moreover, these decisions involve great uncertainty due to the lack of information and an understanding of costs and benefits. We argue that it is now essential for companies to have a deliberate process for making the tough decisions that involve short- and long-term tradeoffs involving shareholders and other stakeholders and that it is the responsibility of the board of directors to ensure that this process exists, and it is effective.

    Keywords: Value Creation; Business and Stakeholder Relations; Corporate Strategy; Business and Shareholder Relations; Corporate Social Responsibility and Impact; Performance Expectations; Governing and Advisory Boards; Management Practices and Processes; Decisions; Risk and Uncertainty; Cost vs Benefits; Information;

    Citation:

    Eccles, Robert G., Ioannis Ioannou, and George Serafeim. "The Role of The Board in Creating a Sustainable Strategy." TrustLaw (November 29, 2011). View Details
  11. The Role of the Board in Accelerating the Adoption of Integrated Reporting

    This report examines the concept of integrated reporting and its current state of adoption around the globe. It also discusses the benefits to both companies and society and recommends ways boards can help their organizations accelerate the implementation of integrated reporting.

    Keywords: Cost vs Benefits; Governing and Advisory Boards; Corporate Social Responsibility and Impact; Integrated Corporate Reporting; Social Issues; Global Range; Adoption;

    Citation:

    Eccles, Robert G., and George Serafeim. "The Role of the Board in Accelerating the Adoption of Integrated Reporting." Director Notes (The Conference Board) (November 2011). View Details
  12. Market Interest in Nonfinancial Information

    Market interest in nonfinancial (e.g., Environmental, Social, and Governance [ESG]) information, including data produced by the Carbon Disclosure Project (CDP), is growing. Using data from Bloomberg we analyze this interest from a variety of different perspectives, and in doing so are able to provide a level of granularity about market interest in nonfinancial information that has not yet been provided.

    Keywords: Markets; Data and Data Sets; Perspective; Environmental Sustainability; Social Issues; Corporate Disclosure; Projects; Interests;

    Citation:

    Eccles, R. G., Michael P. Krzus, and George Serafeim. "Market Interest in Nonfinancial Information." Journal of Applied Corporate Finance 23, no. 4 (fall 2011). View Details
  13. Leading and Lagging Countries in Contributing to a Sustainable Society

    To determine the extent to which corporate and investor behavior is changing to contribute to a more sustainable society, researchers Robert Eccles and George Serafeim analyzed data involving over 2,000 companies in 23 countries. One result: a ranking of countries based on the degree to which their companies integrate environmental and social discussions and metrics in their financial disclosures.

    Keywords: Change; Society; Corporate Disclosure; Natural Environment; Rank and Position; Social Issues; Financial Statements; Behavior;

    Citation:

    Eccles, Robert G., and George Serafeim. "Leading and Lagging Countries in Contributing to a Sustainable Society." HBS Working Knowledge (May 23, 2011). View Details
  14. Reduce the Risk of Failed Financial Judgments

    When crucial financial estimates rely on judgment, companies can minimize their risk by turning to appraisers, actuaries, and evaluators, whether internal, external, or a combination.

    Keywords: Financial Statements; Judgments; Financial Management; Risk Management;

    Citation:

    Eccles, Robert G., Jr., and Edward J. Riedl. "Reduce the Risk of Failed Financial Judgments." HBS Centennial Issue. Harvard Business Review 86, nos. 7/8 (July–August 2008). View Details
  15. Media Reputation of the Insurance Industry: An Urgent Call for Strategic Communication Management

    Keywords: Media; Reputation; Insurance; Strategy; Communication; Management;

    Citation:

    Eccles, Robert G., Jr., and Matthias Vollbracht. "Media Reputation of the Insurance Industry: An Urgent Call for Strategic Communication Management." Special Issue on Reputational Risk Geneva Papers on Risk and Insurance: Issues and Practice 31, no. 3 (July 2006). View Details
  16. Bureaucratic versus Craft Administration: The Relationship of Market Structure to the Construction Firm

    Keywords: Relationships; Markets; Business Ventures; Construction Industry;

    Citation:

    Eccles, Robert G., Jr. "Bureaucratic versus Craft Administration: The Relationship of Market Structure to the Construction Firm." Administrative Science Quarterly 26 (September 1981): 449–469. View Details

Book Chapters

  1. Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board

    This book is a comprehensive reference work exploring recent changes and future trends in the principles that govern institutional investors and fiduciaries. A wide range of contributors offer new perspectives on dynamics that drive the current emphasis on short-term investment returns. Moreover, they analyze the forces at work in markets around the world, which are bringing into sharper focus the systemic effects that investment practices have on the long-term stability of the economy and the interests of beneficiaries in financial, social, and environmental sustainability. This volume provides a global and multi-faceted commentary on the evolving standards governing institutional investment, offering guidance for students, researchers, and policy makers interested in finance, governance, and other aspects of the contemporary investment world. It also provides investment, business, financial media, and legal professionals with the tools they need to better understand and respond to new financial market challenges of the twenty-first century.

    Keywords: Governance; Integrated Corporate Reporting; Institutional Investing; Financial Services Industry;

    Citation:

    Eccles, Robert G., J. Herron, and George Serafeim. "Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board." Chap. 31 in Cambridge Handbook of Institutional Investment and Fiduciary Duty, edited by James P. Hawley, Andreas G.F. Hoepner, Keith L. Johnson, Joakim Sandberg, and Edward J. Waitzer, 403–415. Cambridge University Press, forthcoming. (Due in July 2014.) View Details
  2. Beyond Platinum: Making the Case for Titanium Buildings

    Buildings are the nation's greatest energy consumers. Forty percent of all our energy is used for heating, cooling, lighting, and powering machines and devices in buildings. And despite decades of investment in green construction technologies, residential and commercial buildings remain stubbornly energy inefficient. This book looks beyond the technological and material aspects of green construction to examine the cultural, social, and organizational shift that sustainable building requires, examining the fundamental challenge to centuries-long traditions in design and construction that green building represents. The contributors consider the changes associated with green building through a sociological and organizational lens. They discuss shifts in professional expertise created by new social concerns about green building, including evolving boundaries of professional jurisdictions; changing industry strategies and structures, including the roles of ownership, supply firms, and market niches; new operational, organizational, and cultural arrangements, including the mainstreaming of environmental concerns; narratives and frames that influence the perception of green building; and future directions for the theory and practice of sustainable construction. The essays offer uniquely multidisciplinary insights into the transformative potential of green building and the obstacles that must be overcome to make it the norm.

    Keywords: Buildings and Facilities; Energy; Attitudes; Environmental Sustainability; Construction Industry; Green Technology Industry; United States;

    Citation:

    Herron, J., Amy C. Edmondson, and Robert G. Eccles. "Beyond Platinum: Making the Case for Titanium Buildings." Chap. 4 in Constructing Green: The Social Structures of Sustainability, edited by Rebecca Henn and Andrew Hoffman, 77–100. MIT Press, 2013. View Details
  3. Capturing the Link between Non-financial and Financial Performance in One Space

    Keywords: integrated reporting; sustainability; Integrated Corporate Reporting;

    Citation:

    Eccles, Robert G., Jess Schulschenk, and George Serafeim. "Capturing the Link between Non-financial and Financial Performance in One Space." In Making Investment Grade: The Future of Corporate Reporting, edited by Cornis van der Lugt and Daniel Malan, 43–48. United Nations Environment Programme, 2012. View Details
  4. Accelerating the Adoption of Integrated Reporting

    This chapter describes the concept of integrated reporting, provides a brief history of its development, reviews the current state of practice, presents a strategy for institutional change that will accelerate the adoption of integrated reporting in order to meet the five-year objective, and concludes with a call to the reader to do whatever he or she can to speed the adoption of integrated reporting.

    Keywords: Integrated Corporate Reporting; Business History; Organizational Change and Adaptation; Practice; Adoption;

    Citation:

    Eccles, Robert G., and George Serafeim. "Accelerating the Adoption of Integrated Reporting." Chap. 2.2 in CSR Index, edited by Francesco de Leo and Matthias Vollbracht, 70–92. InnoVatio Publishing Ltd., 2011. View Details
  5. Sustainable Cities: Oxymoron or the Shape of the Future?

    Two trends are likely to define the 21st century: threats to the sustainability of the natural environment and dramatic increases in urbanization. This paper reviews the goals, business models, and partnerships involved in eight early "ecocity" projects to begin to identify success factors in this emerging industry. Ecocities, for the most part, are viewed as a means of mitigating threats to the natural environment while creating urban living capacity by combining low carbon and resource-efficient development with the use of information and communication technologies to better manage complex urban systems.

    Keywords: Environmental Sustainability; City; Urban Development; Infrastructure; Housing; Urban Scope; Business Ventures; Business Model; Green Technology Industry;

    Citation:

    Eccles, Robert G., Annissa Alusi, Amy C. Edmondson, and Tiona Zuzul. "Sustainable Cities: Oxymoron or the Shape of the Future?" Chap. 18 in Infrastructure Sustainability and Design, edited by Spiro Pollalis, Andreas Georgoulias, Stephen Ramos, and Daniel Schodek, 247–265. New York: Routledge, 2012. View Details
  6. Integrated Reporting Requires Integrated Assurance

    In the wake of the recent financial crisis, increasing the effectiveness of auditing has weighed heavily on the minds of those responsible for governance. When a business is profitable and paying healthy dividends to its stockholders, fraudulent activities and accounting irregularities can go unnoticed. However, when revenue and cash flow decline, internal costs and operations may be scrutinized more diligently, and discrepancies can emerge as a result. Effective Auditing for Corporates provides you with proactive advice to help you safeguard core value within a corporation and to ensure that auditing processes and key personnel meet the expectations of management, compliance, and stockholders alike. Aimed primarily at auditors (both external and internal), risk managers, accountants, CFOs, and consultants, Effective Auditing for Corporates covers the following: 1) compliance and the corporate audit, 2) fraud detection, 3) risk-based auditing, 4) the development of Sarbanes-Oxley, 5) cultural changes in external auditing, and 6) auditing management information systems.

    Keywords: Risk Management; Crime and Corruption; Integrated Corporate Reporting; Governance Compliance; Organizational Culture; Management Systems; Laws and Statutes; Information Management; Accounting Audits; Financial Crisis;

    Citation:

    Eccles, Robert G., Michael P. Krzus, and Liv A. Watson. "Integrated Reporting Requires Integrated Assurance." In Effective Auditing for Corporates: Key Developments in Practice and Procedures, edited by Joe Oringel, 161–178. London: Bloomsbury Information Ltd., 2012. View Details
  7. Taking Sustainability Seriously: The Time Has Come for Integrated Reporting

    Citation:

    Eccles, Robert G., Jr., and Michael P. Krzus. "Taking Sustainability Seriously: The Time Has Come for Integrated Reporting." Chap. 9 in Kapitalmarkt in Theorie und Praxis, edited by Fritz H. Rau and Peter Merk, 437–443. Deutsche Vereinigung für Finanzanalyse und Asset-Management (DVFA), 2010, German ed. View Details
  8. How XBRL Will Dramatically Improve Reporting and Control Processes

    Keywords: Financial Reporting; Software; Standards;

    Citation:

    Eccles, Robert G., Liv Watson, and Mike Willis. "How XBRL Will Dramatically Improve Reporting and Control Processes." Chap. 25 in Governance, Risk and Compliance Handbook, edited by Anthony Tarantino, 353–365. John Wiley & Sons, 2008. View Details
  9. Framework for Design of the Emerging Global Organization Structure

    Keywords: Globalized Firms and Management; Organizational Design; Organizational Structure; Framework;

    Citation:

    Eccles, Robert G., Jr., and Richard Nolan. "Framework for Design of the Emerging Global Organization Structure." In Globalization, Technology, and Competition: The Fusion of Computers and Telecommunications in the 1990s, edited by S. P. Bradley, J. A. Hausman, and R. L. Nolan. Boston: Harvard Business School Press, 1993, Korean ed. View Details
  10. Producers' Market

    Keywords: Supply and Industry;

    Citation:

    Eccles, Robert G., Jr., and Harrison C. White. "Producers' Market." In The New Palgrave: A Dictionary of Economic Theory and Doctrine, edited by John Eatwell, Murray Milgate, and Peter Newman, 984–986. London: Macmillan Press, 1987. View Details

Working Papers

  1. Corporate and Integrated Reporting: A Functional Perspective

    In this paper, we present the two primary functions of corporate reporting (information and transformation) and why currently isolated financial and sustainability reporting are not likely to perform effectively those functions. We describe the concept of integrated reporting and why integrated reporting could be a superior mechanism to perform these functions. Moreover, we discuss, through a series of case studies, what constitutes an effective integrated report (Coca-Cola Hellenic Bottling Company) and the role of regulation in integrated reporting (Anglo-American).

    Keywords: sustainability; sustainability reporting; integrated reporting; corporate reporting; corporate accountability; corporate social responsibility; Corporate Disclosure; disclosure; accounting; Investing; information; Corporate Accountability; Corporate Disclosure; Integrated Corporate Reporting; Corporate Social Responsibility and Impact;

    Citation:

    Eccles, Robert G., and George Serafeim. "Corporate and Integrated Reporting: A Functional Perspective." Harvard Business School Working Paper, No. 14-094, April 2014. (Revised May 2014.) View Details
  2. Market Interest in Nonfinancial Information

    Market interest in nonfinancial (e.g., Environmental, Social, and Governance [ESG]) information, including data produced by the Carbon Disclosure Project (CDP), is growing. Using data from Bloomberg we analyze this interest from a variety of different perspectives, and in doing so are able to provide a level of granularity about market interest in nonfinancial information that has not yet been provided.

    Keywords: Integrated Corporate Reporting; Corporate Governance; Markets; Corporate Social Responsibility and Impact; Environmental Sustainability; Social Issues;

    Citation:

    Eccles, Robert G., Michael P. Krzus, and George Serafeim. "Market Interest in Nonfinancial Information." Harvard Business School Working Paper, No. 12-018, September 2011. View Details
  3. Sustainable Cities: Oxymoron or the Shape of the Future?

    Two trends are likely to define the 21st century: threats to the sustainability of the natural environment and dramatic increases in urbanization. This paper reviews the goals, business models, and partnerships involved in eight early "ecocity" projects to begin to identify success factors in this emerging industry. Ecocities, for the most part, are viewed as a means of mitigating threats to the natural environment while creating urban living capacity, by combining low carbon and resource-efficient development with the use of information and communication technologies (ICT) to better manage complex urban systems.

    Keywords: Communication Technology; Investment; City; Infrastructure; Business and Government Relations; Environmental Sustainability; Urban Development; Information Technology; Green Technology Industry; Real Estate Industry;

    Citation:

    Alusi, Annissa, Robert G. Eccles, Amy C. Edmondson, and Tiona Zuzul. "Sustainable Cities: Oxymoron or the Shape of the Future?" Harvard Business School Working Paper, No. 11-062, December 2010. (Revised January 2011, March 2011, April 2011.) View Details

Cases and Teaching Materials

  1. Integrated Reporting at Aegon

    In 2011, Aegon adopted integrated reporting—a corporate reporting approach that sought to present company performance in a holistic light by considering medium- to long-term issues, stakeholder opinions, and the relationship between material financial and nonfinancial data. By 2013, Aegon had reduced the page count of its annual corporate reporting documents, helped stakeholders gain a more thoroughgoing understanding of its strategy, and begun the transition from being a product manufacturer to a customer-centric company. Still, the company's integrated report was separate from its regulatory filing. Although work in an area where there was not much regulatory or legislative guidance assuaged the Disclosure Committee's fears of accidentally violating regulations or taking on extra liability by reporting on non-financial information that was difficult to verify by a third-party, some felt the report's status meant it had not driven some of the organizational change it could have. Could Aegon benefit from publishing its integrated report as the official regulatory document? How could Aegon create a more interactive, real-time integrated reporting website that was connected to the core of their strategy? How should Aegon Asset Management include the integration of EGS factors in its investment processes and engagement with portfolio companies? What should the next step be?

    Citation:

    Eccles, Robert G., Georgios Serafeim, Sydney Ribot, and Michael Krzus. "Integrated Reporting at Aegon." Harvard Business School Case 315-011, October 2014. View Details
  2. A Note on Knowledge Management in Professional Services Firms

    Knowledge management is a subject of broad interest, especially in "knowledge industries" and "knowledge economies." It is also a topic filled with frustration on the part of practitioners and the level of resource commitment to this function waxes and wanes. This note focuses on a sector where knowledge is the very basis of their offering — professional service firms. One element of competitive success is the extent to which a professional service firm can harness and increase the knowledge of its professionals, making knowledge of individuals an asset of the firm. Historically the focus has been on "codification" with a focus on IT applications. More recently, with Web 2.0, there is an increasing emphasis on collaboration so that individuals are interacting with each other, not simply documents. This note, based on extensive interviews in more than 20 professional service firms, describes the knowledge management challenge in professional service firms and how to address it. The note traces the history of knowledge management in professional service firms, examines the current state of practice, and speculates about possible future directions in which it will evolve.

    Keywords: knowledge management; Knowledge Management;

    Citation:

    Eccles, Robert G., Ana Kreacic, and Penelope Rossano. "A Note on Knowledge Management in Professional Services Firms." Harvard Business School Background Note 314-034, August 2013. View Details
  3. Innovation at the Boston Consulting Group

    This case is about how the Boston Consulting Group has approached innovation from its founding to the present day. It discusses the role of the firm's talent market and client market in developing these innovations.

    Keywords: innovation; strategy consulting; professional service firm; knowledge management; client management; product development; leadership; Customer Focus and Relationships; Customer Value and Value Chain; Independent Innovation and Invention; Innovation and Management; Innovation Leadership; Innovation Strategy; Value Creation; Consulting Industry;

    Citation:

    Eccles, Robert G., Das Narayandas, and Penelope Rossano. "Innovation at the Boston Consulting Group." Harvard Business School Case 313-137, May 2013. (Revised May 2014.) View Details
  4. Developing the Materiality Matrix at Telefónica

    Telefónica, one of the largest telecommunication companies in the world and headquartered in Spain, has been issuing a corporate sustainability report since 2002. In its 2011 Sustainability report, the company included a "materiality matrix," and was one of only five of the 97 companies in Spain that produced a sustainability report that year. The case describes the purpose of the materiality matrix, how it was developed, and the opportunities the company sees for improving it.

    Keywords: sustainability; sustainability reporting; sustainable strategy; CSR; corporate social responsibility; Communication Technology; Environmental Accounting; Corporate Social Responsibility and Impact; Environmental Sustainability; Telecommunications Industry; Spain;

    Citation:

    Eccles, Robert G., George Serafeim, and Asun Cano-Escoriaza. "Developing the Materiality Matrix at Telefónica." Harvard Business School Case 413-088, December 2012. (Revised October 2013.) View Details
  5. Integrated Reporting in South Africa

    This case presents a 20-year history of the evolution of corporate governance and corporate reporting in South Africa starting in 1992 with a focus on the three King codes of corporate governance (King I in 1994, King II in 2000, and King III in 2009). From a reporting perspective these reforms culminated in the "apply to explain why not" mandate for integrated reporting by all companies listed on the Johannesburg Stock Exchange.

    Keywords: integrated reporting; sustainability reporting; stock exchanges; South Africa; corporate governance; corporate reporting; regulation; nonfinancial performance; History; Corporate Disclosure; Markets; Integrated Corporate Reporting; Performance; Corporate Governance; South Africa;

    Citation:

    Eccles, Robert G., George Serafeim, and Pippa Armbrester. "Integrated Reporting in South Africa." Harvard Business School Case 413-038, September 2012. (Revised November 2012.) View Details
  6. A Note on the International Integrated Reporting Council: Towards An International Framework

    Citation:

    Eccles, Robert G., George Serafeim, Pippa Armbrester, and Jess Schulschenk. "A Note on the International Integrated Reporting Council: Towards An International Framework ." Harvard Business School Technical Note 413-072, November 2012. View Details
  7. Addleshaw Goddard LLP (Abridged)

    Addleshaw-Goddard (AG), the 15th largest law firm in the UK, is seeking ways to serve larger clients on more important legal matters. Part of this strategy involves its "Client Development Centre (CDC)," an innovative idea and set of services launched by Dr. Jim Hever who holds a Ph.D. in Strategic Leadership Development. The mission of the CDC is to improve the capabilities of clients' in-house legal departments by making them better partners with the business units and improving their leadership skills. The CDC has adopted an innovative pricing structure. Rather than charging direct fees for these consulting services, it proposed to the client that it contract with the firm for five times this amount in legal fees that might otherwise have gone to another law firm. It is in this way, AG hopes to increase its position with its larger clients. AG has also developed a very systematic program for identifying and serving its key clients, developed in collaboration with Cranfield School of Management. It is these clients that will be the focus of the efforts for the CDC. In addition, the firm has co-developed a training program with Cranfield to improve the skills of its own partners. The case explores whether these initiatives will lead to a long-term competitive advantage. The firm believes what really will produce competitive advantage is its "Me-To-You Mindset" initiative that encourages partners to look at the world through their clients' eyes. At the end of the case Hever is reflecting on a proposal he submitted for providing CDC services to one of the largest UK companies. The general counsel wants to pay for these services in cash should he decide to accept the proposal, rather than hiring AG for more legal work. Hever is wondering if this is a good way to take advantage of recent reforms allowing law firms to provide other professional services, like consulting, or if this is "off-strategy" for the mission of the CDC.

    Keywords: Price; Innovation and Invention; Service Operations; Partners and Partnerships; Competitive Advantage; Diversification; Legal Services Industry; United Kingdom;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, and James Weber. "Addleshaw Goddard LLP (Abridged)." Harvard Business School Case 413-064, September 2012. (Revised December 2012.) View Details
  8. Shanghai Diligence Law Firm (B)

    Shanghai Diligence Law Firm continued with its approach to grow through a merger, rather than organically, and was eventually merged into a bigger law firm in China. After the merger, a refined A-B-C-D model is still in use as compensation system, although the challenge remains as for how to enhance both willingness and capabilities of associates to improve team performance at the firm.

    Keywords: professional service firms; compensation; law firms; motivating professionals; client management; developing professionals; entrepreneurship; China; Mergers and Acquisitions; Employee Relationship Management; Compensation and Benefits; Groups and Teams; Legal Services Industry; China;

    Citation:

    Eccles, Robert G., and Catherine Zhang. "Shanghai Diligence Law Firm (B)." Harvard Business School Supplement 413-027, July 2012. (Revised March 2013.) View Details
  9. Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd.

    This case is about the establishment, growth, and direction of the Shanghai Zhangjiang Hi-Tech Park ("Zhangjiang Park"), which is located in the Pudong New Area of Shanghai. Considered to be one of the most competitive hi-tech industry clusters in China, the combined business strategy of Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. ("Zhangjiang Hi-Tech"), a key operator of Zhangjiang Park, included real estate development, hi-tech investment, and integrated services. As of the time of the case, members of the Board of Directors of Zhangjiang Hi-Tech were faced with open questions such as how Zhangjiang Park would be able to maintain its sustainable competitiveness in comparison with other hi-tech and industrial parks in China. Board members were also concerned with how Zhangjiang Hi-Tech would be able to meet the needs of both capital market and regional development.

    Keywords: Industry Clusters; Technology; Capital Markets; Urban Development; Buildings and Facilities; Competition; Business Strategy; Governing and Advisory Boards; Technology Industry; Real Estate Industry; Shanghai;

    Citation:

    Eccles, Robert G., Catherine Zhang, Cheng-hua Tzeng, Liang Cheng, and Penelope Rossano. "Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd." Harvard Business School Case 411-081, March 2011. (Revised May 2012.) View Details
  10. Buro Happold (Abridged)

    In 1996, Ted Happold, the founder of the engineering services firm Buro Happold, passed away, and Padraic Kelly became the firm's new managing director (MD). One of his first initiatives was "Aim for Growth," which was intended to help the firm grow beyond its current size, wherein it was constrained by a structure of having each of the firm's founding partners responsible for a group of 25 to 30 engineers. This initiative was very successful, but the firm then found itself with a lack of leadership skills at all levels of the organization to manage a company of a much larger size, growing by a factor of 10 over 10 years. The lack of leadership skills was recognized by clients who gave the firm feedback on this. In response, Buro Happold developed its first formal internal training programs under the name of "Archimedes Academy." The first two programs were (1) the Job Leader Program, targeted for senior engineers and designed to help them be more effective in working with clients and (2) the Project Leader Program, targeted for project leaders and designed to help them develop the "softer" management skills to complement their technical ones. A distinctive aspect of Archimedes Academy is that these first programs were developed and delivered by the cohorts who first attended them. Rather than partner with a university to develop an accredited program, the firm decided it would be better off developing the program itself, with the help of an outside consultant who had done something similar at his previous employer, in order to make sure the programs were specific enough to Buro Happold's needs and relevant to the firm's culture. The first two programs were a big success, and the firm expanded the training offerings under the Archimedes banner. The case ends with a client, a Middle Eastern city authority, asking Buro Happold Consulting, a new unit created by Padraid Kelly after stepping down as MD in 2006, asking the firm to develop a training program for them. This request raises the question of whether this internal training capability should become the basis of an external service offering.

    Keywords: learning and development; training; entrepreneurship; managing growth; organizational design; diversification; client management; leadership skills; Entrepreneurship; Growth and Development Strategy; Leadership Development; Management Skills; Training; Programs; Customer Relationship Management;

    Citation:

    Eccles, Robert G., and Ryan Johnson. "Buro Happold (Abridged)." Harvard Business School Case 412-123, June 2012. View Details
  11. GoodGuide

    GoodGuide, a high-technology start-up company, founded by University of California Professor at Berkley Dara O'Rourke is at a critical junction. The venture capital funded company has yet to find the business model to monetize a very promising product that provides consumers and manufacturers with information about the sustainability of a product.

    Keywords: Entrepreneurship; Growth and Development Strategy; Strategic Planning; Venture Capital; Goods and Commodities; Business Model; Technology; Knowledge; Education Industry; California;

    Citation:

    Serafeim, George, Robert G. Eccles, and Tiffany A. Clay. "GoodGuide." Harvard Business School Case 112-031, September 2011. (Revised May 2012.) View Details
  12. Aviva Investors

    The case describes Aviva Investors' engagement strategy with companies and stock exchanges to improve its sustainability performance and the flow of sustainability related information to markets. Aviva Investors, a GBP 259 billion fund, is the investment arm of the large British insurance company, Aviva plc. Aviva Investors is committed to sustainability under the leadership of its CEO, Paul Abberley, and head of sustainability research and engagement, Steve Waygood. The case describes Aviva Investors' policies on materiality, engagement, and its corporate responsibility voting policy. It then explores how the company is implementing these policies in the case of a particular company, the FTSE 100 diversified mining company Vendanta, and the Sustainable Stock Exchange Initiative under the sponsorship of the UN Principles for Responsible Investment.

    Keywords: Investment; Business and Shareholder Relations; Environmental Sustainability; United Kingdom;

    Citation:

    Serafeim, George, Robert G. Eccles, and Kyle Armbrester. "Aviva Investors." Harvard Business School Case 112-047, December 2011. (Revised August 2012.) View Details
  13. Allied Electronics Corporation Ltd: Linking Compensation to Sustainability Metrics

    Robert Venter, second-generation Chief Executive (CE) of family-owned Allied Electronics Corporation Ltd (Altron), considered the pros and cons of more clearly linking the firm's compensation system to sustainability performance. In June 2011, Altron, a conglomerate headquartered in Johannesburg, South Africa, controlled more than 200 companies in Africa, Europe, the US, the UK, Australia, and the Far East. More than 14,000 employees designed, developed, manufactured, and marketed a range of telecommunications, electronics, power electronics, and information technology systems and products. Having made a clear commitment to sustainable development, Venter was confident that the commitment was shared across the senior management team. However, there appeared to be more acceptance in the operating units for meeting financial targets than for meeting sustainability targets. Did the existing incentive structure send the correct message about the sustainability-oriented corporate strategy? Looking at the reshaped strategic themes, Venter considered the pros and cons of more clearly linking the firm's compensation system to sustainability performance.

    Keywords: Compensation and Benefits; Motivation and Incentives; Environmental Sustainability;

    Citation:

    Eccles, Robert G., George Serafeim, Shelley Xin Li, and Alan Knight. "Allied Electronics Corporation Ltd: Linking Compensation to Sustainability Metrics." Harvard Business School Case 412-075, November 2011. (Revised June 2013.) View Details
  14. Tough Decisions at Marks and Spencer

    In 2007, under the leadership of CEO Stuart Rose, the iconic British retailer Marks and Spencer, with great fanfare, announced its "Plan A" initiative. Based on the five essential pillars of climate change, waste, sustainable materials, fair partnership, and health, the plan sought to transform the company's practices. By 2012, the program's aim was to ensure that M&S was carbon neutral and sent no waste to landfill. It also aimed to help its customers and employees achieve a healthier lifestyle, and to improve the lives of all involved in the company's supply chain with fair wages, as well as improved working hours and conditions. Called Plan A "because there is no Plan B," the company identified 180 projects to improve the sustainability of its operations and business practices in anticipation of the need for a very different business model in the future. Key aspects of Plan A included more sustainable sourcing and influencing the business practices of the company's supply chain; communication to employees, customers and investors; and employee engagement. The case concludes with the tradeoffs involved in the decision of whether or not to install refrigerator doors in the grocery section of its stores. While the energy savings and reduced carbon emissions are relatively clear and easy to measure, the impact on customers and revenues is harder to assess.

    Keywords: Decision Making; Environmental Sustainability; Corporate Social Responsibility and Impact; Corporate Strategy; Retail Industry;

    Citation:

    Eccles, Robert G., George Serafeim, and Kyle Armbrester. "Tough Decisions at Marks and Spencer." Harvard Business School Case 112-062, January 2012. (Revised June 2013.) View Details
  15. InterfaceRAISE: Sustainability Consulting

    InterfaceRAISE is a sustainability management consulting firm created to leverage the capabilities of its parent company Interface Inc., a carpet manufacturer recognized as a global leader in corporate environmental sustainability. This case illustrates the challenges of turning an internal capability into a client‐facing revenue stream. This is made especially difficult by the fact that the parent company is a manufacturing firm and InterfaceRAISE is a professional service firm (consulting). InterfaceRAISE is not being staffed by a traditional consulting firm model, relying instead on the part‐time availability of employees in the parent company. At the time of the case, InterfaceRAISE was grappling to identify the appropriate business model for the type of consulting firm it wants to be, to determine what its client portfolio should look like, and to set its pricing structure. InterfaceRAISE needed to decide how to accelerate its growth while better achieving its three objectives: improving its clients' sustainability performance, enhancing its parent company's brand image and sales, and increasing operating profits.

    Keywords: Problems and Challenges; Integrated Corporate Reporting; Corporate Social Responsibility and Impact; Entrepreneurship; Performance; Environmental Accounting; Profit; Marketing Strategy; Human Resources; Business Model; Leveraged Buyouts; Salesforce Management; Consulting Industry; Manufacturing Industry;

    Citation:

    Toffel, Michael W., Robert G. Eccles, and Casey Taylor. "InterfaceRAISE: Sustainability Consulting." Harvard Business School Case 611-069, May 2011. (Revised March 2012.) View Details
  16. Hassina Sherjan

    Hassina Sherjan was born in Afghanistan but grew up and was educated in the United States. A trip to Afghanistan when she was an adult inspired her to move back to her home country with two missions. The first was to educate young women through a non-profit organization she started called Aid Afghanistan for Education and a for-profit company, Boumi, that manufactures and distributes products for the home such as curtains, cushion covers, tea cozies, coasters, bedclothes, and bathroom accessories. The mission of Boumi is to create jobs in Afghanistan, especially for women, based on traditional Afghani designs and using only locally grown cotton. Sherjan wants to grow Boumi so that it can be a substantial, if not major, funding source for Aid Afghanistan for Education. In order to grow Boumi, Sherjan must confront a number of challenges including funding, finding and managing skilled workers, and getting distribution for Boumi products in major markets such as Europe and the United States.

    Keywords: Environmental Accounting; Non-Governmental Organizations; Nonprofit Organizations; Corporate Social Responsibility and Impact; Social Entrepreneurship; Leadership; Innovation Leadership; Development Economics; Growth and Development; Problems and Challenges; Retail Industry; Afghanistan; United States;

    Citation:

    Eccles, Robert G., George Serafeim, and Pippa Eccles. "Hassina Sherjan." Harvard Business School Case 112-029, September 2011. (Revised March 2012.) View Details
  17. Dow Chemical: Innovating for Sustainability

    Dow Chemical is one of the few major American industrial corporations that was founded in the late 19th century that is still in existence. From its origins producing bromine out of the brine underneath Midland, Michigan, the company has evolved from a diversified commodity chemical company to an advanced materials company whose products and services can make its clients more sustainable. During the 1960s and 1970s the company received a series of external shocks in the form of negative public opinion for some of its activities. These challenged the company's perception as being a "good company" and made it realize it needed to more proactively seek outside perspectives on how the company was viewed and what it should do. This led to the formation of the Corporate Environmental Advisory Council in 1992 which was renamed the Sustainability External Advisory Council (SEAC) in 2008. With substantial input from the SEAC, the company set two ambitious sets of ten-year goals: 1996-2005 and 2006-2015 and was largely successful in meeting them or on the way to doing so. In 2011, Neil Hawkins, Vice President of Sustainability and EH&S (Environmental, Health and Safety) is trying to decide what the content and format of the next ten-year goals should be to ensure the company's viability on its 200th birthday. Should they be incremental goals like the ones for 2005 or ambitious stretch targets like the ones for 2015? Or should they be broad statements of principles that encourage innovating for sustainability throughout the company? A further challenge facing the company is that it was rapidly globalizing with a large portion of its workforce outside its Midland, Michigan headquarters, making it even more difficult to preserve a common culture and commitment to sustainability.

    Keywords: Innovation Strategy; Environmental Sustainability; Chemical Industry;

    Citation:

    Eccles, Robert G., George Serafeim, and Shelley Xin Li. "Dow Chemical: Innovating for Sustainability." Harvard Business School Case 112-064, January 2012. (Revised June 2013.) View Details
  18. KKR: Leveraging Sustainability

    The case describes KKR's Green Portfolio Program, one of the firm's environmental initiatives, which has achieved $160 million in cost savings. While pleased with its progress in achieving greater energy efficiency and reduced carbon emissions, the firm is looking for other ways to expand its sustainability initiatives, such as in its supply chain and incorporating sustainability into its due diligence and deal making processes.

    Keywords: Private Equity; Investment Portfolio; Energy Conservation; Cost Management; Supply Chain Management; Risk Management; Social Enterprise; Growth and Development; Performance Efficiency; Financial Services Industry;

    Citation:

    Eccles, Robert G., George Serafeim, and Tiffany A. Clay. "KKR: Leveraging Sustainability." Harvard Business School Case 112-032, September 2011. (Revised March 2012.) View Details
  19. Exeter Group, Inc. (A)

    Jonathan Kutchins and Mark Cullen, managing partners of IT consulting firm Exeter Group, Inc., are considering four potential client engagements. Three of them involve prominent universities, an area of market strength for the firm, and one involves a top-tier strategy consulting firm, a new market for Exeter. Each of the projects has both attractive and unattractive attributes, with various degrees of upside and downside risk. As a relatively new and small IT consulting firm, Exeter needs to make careful choices about how it allocates resources to projects, and it is not clear if the firm has the capacity to add all four projects at once. Thus Kutchins and Cullen have to decide which, if any, of these projects to do. In some cases they must also decide whether they want to try to restructure the nature of the engagement to better fit the firm's service model. Although young and small, the firm has grown successfully and is optimistic about its future prospects. Kutchins and Cullen thus want to make decisions about these very specific client engagements in the context of their overall strategy and the contributions of these engagements in helping the firm achieve its long-term goals.

    Keywords: Decision Choices and Conditions; Resource Allocation; Market Entry and Exit; Service Operations; Performance Capacity; Business Strategy; Information Technology; Consulting Industry;

    Citation:

    Eccles, Robert G., Das Narayandas, and Kerry Herman. "Exeter Group, Inc. (A)." Harvard Business School Case 409-001, February 2009. (Revised February 2012.) View Details
  20. A Note on Water

    This note provides background on the complex issues regarding the supply and consumption of water and how this natural resource is at increasing risk, resulting in significant economic, political and environmental issues.

    Keywords: Economics; Government and Politics; Demand and Consumers; Supply and Industry; Risk and Uncertainty; Natural Environment; Pollution and Pollutants; Environmental Sustainability;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, George Serafeim, and Sarah E. Farrell. "A Note on Water." Harvard Business School Background Note 412-050, August 2011. (Revised February 2012.) View Details
  21. Integrated Assurance at Philips Electronics N.V.

    Philips Electronics is a leader in integrated reporting. In 2010 it produced its third generation report. Since its first report in 2008, Philips' integrated reports and its integrated reporting website had grown in sophistication. In planning for its integrated report for 2011, the company is exploring the issues that will need to be addressed in order to produce an integrated report. KPMG is the company's auditor for both the financial and nonfinancial information contained in the integrated report, but these are covered by separate assurance opinions. Among the challenges of providing an integrated audit is getting the internal measurement and control systems for nonfinancial information to be of the same quality as for financial information. A further challenge is that the cultures of the finance function and those who work in sustainability are very different.

    Keywords: Accounting Audits; Reports; Organizational Culture;

    Citation:

    Eccles, Robert G., and Daniela Saltzman. "Integrated Assurance at Philips Electronics N.V." Harvard Business School Case 412-054, January 2012. (Revised May 2013.) View Details
  22. Natura Cosméticos, S.A.

    Rodolfo Guttilla, Director of Corporate Affairs for Natura Cosméticos S.A. (Natura), prepared for a meeting with key stakeholders to discuss the future of integrated reporting at Natura. A cosmetics company with a strong brand, robust growth in international and domestic markets, and premium price and margins, Natura was consistently rated as one of the preferred places to work in Brazil. Its focus on social and environmental responsibility was a source of innovation; strong employee motivation contributed to the company's superior productivity and market share gain in Brazil's cosmetics, fragrances, and toiletries (CF&T) industry. By 2009, Natura's direct sales business model generated income for over 1 million people in Brazil and Latin America. Natura was the first organization in Brazil to produce an integrated report. Senior leadership was convinced that Natura's success over the years had been aided by its corporate responsibility and strategy to continuously seek improvements in both financial and nonfinancial (e.g., environmental, social, and governance) performance. As he prepared for the meeting, Guttilla considered the future of integrated reporting for Natura. What should the future of integrated reporting be like at Natura? How could the organization increase society's participation in the collaborative effort to develop new solutions to today's most challenging problems? How could the report provide a clearer representation of the organization's strategy and its ability to create and sustain value over the long term? And finally, how could web-based technologies be used to promote the organization's integrated reporting and sustainable development objectives?

    Keywords: Beauty and Cosmetics Industry;

    Citation:

    Eccles, Robert G., George Serafeim, and James Heffernan. "Natura Cosméticos, S.A." Harvard Business School Case 412-052, November 2011. (Revised June 2013.) View Details
  23. Chevron: A Stranded Asset?

    Oil giant, Chevron, faced numerous challenges on environmental, social and governance (ESG) grounds in the first decade of the 21st century, including some major lawsuits and actions by NGOs. The case describes those challenges and raises questions about what is the optimal response on the part of the company in order to ensure future growth and profitability, and how those challenges are going to affect the future competitiveness of not only Chevron but of the whole oil and gas sector.

    Keywords: Energy Industry;

    Citation:

    Serafeim, George, Robert G. Eccles, and Phillip Andrews. "Chevron: A Stranded Asset?" Harvard Business School Case 112-065, February 2012. (Revised January 2013.) View Details
  24. Caesars Entertainment: CodeGreen

    The case describes the development of Caesar's sustainability initiative program, the effect of the initiative on employee engagement and motivation, and on customer satisfaction.

    Keywords: Customer Satisfaction; Employees; Corporate Social Responsibility and Impact; Environmental Sustainability; Motivation and Incentives; Accommodations Industry; Entertainment and Recreation Industry;

    Citation:

    Serafeim, George, Robert G. Eccles, and Tiffany A. Clay. "Caesars Entertainment: CodeGreen." Harvard Business School Case 111-115, March 2011. (Revised August 2012.) View Details
  25. Foxconn Technology Group (A)

    The case describes the challenges that Foxconn faced after a series of suicides took place at its plants. The response of Foxconn's management is presented and the associated implications for Foxconn's stock price are discussed.

    Keywords: Employee Relationship Management; Leadership; Stocks; Social Issues; Corporate Social Responsibility and Impact; Capital Markets; Supply Chain Management; Environmental Accounting; Human Capital; Human Resources; Electronics Industry; Manufacturing Industry; China;

    Citation:

    Eccles, Robert G., George Serafeim, and Beiting Cheng. "Foxconn Technology Group (A)." Harvard Business School Case 112-002, July 2011. (Revised June 2013.) View Details
  26. Novo Nordisk: A Commitment to Sustainability

    The case describes the early commitment of a European pharmaceutical company, Novo Nordisk, to integrated reporting. Novo Nordisk is one of the pioneers of integrated reporting and it emerged out of its commitment to a "Triple Bottom Line approach to managing the company." The case describes the company's "Blueprint for Change Programme" designed to facilitate stakeholder engagement and communicate how the company delivered value to business and society. The case also provides an investor perspective on the company's integrated reporting efforts and its plans for how to improve it in the future.

    Keywords: Strategic Planning; Business Ventures; Business or Company Management; Integrated Corporate Reporting; Business Strategy; Pharmaceutical Industry;

    Citation:

    Eccles, Robert G., and Michael P. Krzus. "Novo Nordisk: A Commitment to Sustainability." Harvard Business School Case 412-053, October 2011. (Revised June 2013.) View Details
  27. Weber Shandwick: The Client Relationship Leader Program

    In 2002 Weber Shandwick, a leading global public relations agency, instituted a Client Relationship Leader (CRL) Program for its top 32 global accounts. The purpose of the program is to ensure that all of the firm's resources across geographies, practice areas, and specialty areas are coordinated and effectively delivered to Weber Shandwick's most important clients. Each of these clients is assigned a "Client Relationship Leader" and the case discusses the skills and abilities that are needed to be successful in this role in a very complex multidimensional organizational structure. There are two basic types of CRLs: hunters whose job is growing accounts with a lot of potential and farmers whose job is to maintain strong and broad-based relationships. CRLs must walk a fine line between being close to the client, even considered part of their team, and not being too close by "going native" and ignoring their responsibilities as Weber Shandwick employees. Unlike office managers, who are measured based on the bottom line, CRLs are measured on top-line growth. Another objective of the CRL program is to enable Weber Shandwick to differentiate itself in a highly competitive environment where it is very difficult for PR firms and their holding-company media conglomerate parents to do so. The public relations industry in the broadest sense has undergone a tremendous amount of consolidation through acquisitions over the past 20 years. It is also being challenged to adapt to new technologies like blogging and social networking, which both change and enhance existing service offerings. Another way that Weber Shandwick is adapting to new technologies is through an Internet-based platform called WeberWorks (3.0) that fosters communication and collaboration between the firm and the client and within the client team.

    Keywords: Blogs; Competency and Skills; Customer Relationship Management; Organizational Change and Adaptation; Organizational Design; Social and Collaborative Networks; Competitive Advantage; Public Relations Industry;

    Citation:

    Eccles, Robert G., and Kerry Herman. "Weber Shandwick: The Client Relationship Leader Program." Harvard Business School Case 408-077, February 2008. (Revised December 2011.) View Details
  28. Ricoh Company, Ltd.

    Ricoh, the Japanese copier manufacturer, is committed to reducing its environmental impact to one-eighth of its 2000 levels by 2050. It has already introduced three stages of environmental awareness to its operations, and its recycled copier business broke even in 2006. The company developed environmental accounting methods and produces annual environmental and sustainability reports, but Ricoh is concerned that investors may not take these efforts into account.

    Keywords: Environmental Accounting; Financial Reporting; Integrated Corporate Reporting; Investment; Operations; Corporate Social Responsibility and Impact; Environmental Sustainability; Electronics Industry; Manufacturing Industry; Japan;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, Marco Iansiti, and Akiko Kanno. "Ricoh Company, Ltd." Harvard Business School Case 610-053, February 2010. (Revised December 2011.) View Details
  29. Southwest Airlines One ReportTM

    In 2009, Southwest Airlines produced its first integrated annual report, the Southwest Airlines One Report, combing financial and nonfinancial performance information. This case examines Southwest's environmental and corporate social responsibility (CSR) reports produced in the two years preceding 2009 and follows the company's decision to transition to a new reporting format. Preparing for the 2010 report, the Southwest reporting team contemplates how to improve the One Report. The case also allows for debate on the future of integrated reporting, including its impact on internal management processes, integrated audits, and mandated nonfinancial reporting.

    Keywords: Environmental Accounting; Financial Reporting; Integrated Corporate Reporting; Innovation and Invention; Corporate Social Responsibility and Impact; Environmental Sustainability; Air Transportation Industry; United States;

    Citation:

    Eccles, Robert G., Beiting Cheng, and Susan Thyne. "Southwest Airlines One ReportTM." Harvard Business School Case 411-042, September 2010. (Revised December 2011.) View Details
  30. Exeter Group, Inc. (B)

    This case presents a brief description of the decisions the company made regarding whether or not to pursue each of the four projects that are the basis of the (A) case.

    Keywords: Customers; Decision Choices and Conditions; Projects;

    Citation:

    Eccles, Robert G., Das Narayandas, and Kerry Herman. "Exeter Group, Inc. (B)." Harvard Business School Supplement 412-035, September 2011. View Details
  31. A Chronology of Integrated Reporting

    This technical note traces the development of integrated reporting through published materials, research, and the formation of various committees. Readers will gain an understanding of how the topics of nonfinancial information, sustainable development, corporate disclosure, and integrated reporting, among others, overlap.

    Keywords: Integrated Corporate Reporting; Corporate Disclosure; Product Development; Corporate Social Responsibility and Impact; Environmental Sustainability; Social Issues;

    Citation:

    Eccles, Robert G., and Michael P. Krzus. "A Chronology of Integrated Reporting." Harvard Business School Background Note 411-049, September 2010. (Revised August 2011.) View Details
  32. Exeter Group, Inc. (TN)

    Teaching Note for 409001.

    Keywords: Markets; Projects; Resource Allocation; Corporate Strategy; Goals and Objectives; Performance Capacity; Service Delivery; Information Technology Industry; Consulting Industry;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "Exeter Group, Inc. (TN)." Harvard Business School Teaching Note 412-024, August 2011. View Details
  33. Shanghai Diligence Law Firm (TN)

    Teaching Note for 409065.

    Keywords: Problems and Challenges; Opportunities; Brands and Branding; Competitive Strategy; Innovation and Invention; Compensation and Benefits; System; Talent and Talent Management; Legal Services Industry; Shanghai;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "Shanghai Diligence Law Firm (TN)." Harvard Business School Teaching Note 412-018, July 2011. View Details
  34. Miles Everson at PricewaterhouseCoopers (TN)

    Teaching Note for 410062.

    Keywords: Partners and Partnerships; Employees; Financial Institutions; Opportunities; Networks; Managerial Roles; Experience and Expertise; Attitudes; Leadership; Service Industry; United States;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "Miles Everson at PricewaterhouseCoopers (TN)." Harvard Business School Teaching Note 412-022, July 2011. View Details
  35. Weber Shandwick: The Client Relationship Leader Program (TN)

    Teaching Note for 408077.

    Keywords: Service Delivery; Organizational Structure; Groups and Teams; Employees; Growth and Development; Situation or Environment; Consolidation; Acquisition; Technology Platform; Blogs; Social and Collaborative Networks; Internet; Public Relations Industry;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "Weber Shandwick: The Client Relationship Leader Program (TN)." Harvard Business School Teaching Note 412-023, July 2011. View Details
  36. Addleshaw Goddard LLP (TN)

    Teaching Note for 409056.

    Keywords: Innovation and Invention; Corporate Strategy; Leadership Development; Business Units; Price; Contracts; Training; Competency and Skills; Partners and Partnerships; Competitive Advantage; Mission and Purpose; Legal Services Industry; United Kingdom;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "Addleshaw Goddard LLP (TN)." Harvard Business School Teaching Note 412-026, July 2011. View Details
  37. a-connect: In Search of Talent Partners (TN) (A) and (B)

    Teaching Note for 409036 and 411085.

    Keywords: Revenue; Business Offices; Attorney and Client Relationships; Customer Focus and Relationships; Initial Public Offering; Organizations; Change; Consulting Industry; Boston; Hong Kong; Singapore; San Francisco;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "a-connect: In Search of Talent Partners (TN) (A) and (B)." Harvard Business School Teaching Note 412-014, July 2011. View Details
  38. The Credit Suisse/Gerson Lehrman Group Alliance (TN)

    Teaching Note for 409046.

    Keywords: Competition; Equity; Alliances; Competitive Advantage; Leadership; Research; Business Model; Quality; Revenue; Contracts; Financial Markets; Consulting Industry; Service Industry;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "The Credit Suisse/Gerson Lehrman Group Alliance (TN)." Harvard Business School Teaching Note 412-016, July 2011. View Details
  39. Mandatory Environmental, Social, and Governance Disclosure in the European Union

    In 2011, the European Commission was deciding on how to best modify the existing European Union policy on corporate disclosure of environmental, social, and governance (ESG) information. Previous directives had recommended that European companies report ESG information, but now the EC was deciding if organizations should be required to disclose nonfinancial information. The EC had to determine what types of organizations would be required to disclose, which international framework would serve as a standard reporting guideline, and if ESG disclosure would be integrated with financial material in one annual report. This case outlines the history and trends of corporate social responsibility reporting to encourage a discussion around the decision points and implications of reporting regulations.

    Keywords: Integrated Corporate Reporting; Corporate Strategy; Corporate Disclosure; Environmental Accounting; Competitive Strategy; International Accounting; Financial Reporting; Corporate Social Responsibility and Impact; Governing Rules, Regulations, and Reforms; Debates; Europe;

    Citation:

    Eccles, Robert G., George Serafeim, and Phillip Andrews. "Mandatory Environmental, Social, and Governance Disclosure in the European Union." Harvard Business School Case 111-120, June 2011. (Revised February 2013.) View Details
  40. Cognizant Technology Solutions

    In the highly competitive information technology outsourcing industry, Cognizant Technology Solutions has developed a strategy to differentiate itself by emphasizing building very close client relationships through its "Two-in-a-box" (TIB) model. This model is based on having two people share complete responsibility for the client. In the U.S. or Europe, the "on site" person, along with his or her relationship management team, is responsible for understanding the client's needs, obtaining projects and properly scoping out the work. The "offshore" person in India or elsewhere, along with his or her delivery team, is responsible for completing the project in a high-quality and timely way. The same top- and bottom-line metrics are used to evaluate the performance of both the on-site and offshore managers. This strategy (as opposed to ones based on things like low cost and innovation used by Cognizant's competitors) is intended to build deep and strong client relationships that will maximize Cognizant's "share of wallet." One interesting aspect of TIB is Cognizant Business Consulting, a 1,700-person group which advises clients in the context of helping them develop IT solutions for their business challenges. More recently, and as the next evolution of the TIB model, Cognizant is developing what it calls "Cognizant 2.0" or C2. C2 is a delivery platform based on Web 2.0 technology that enables Cognizant to subdivide work into tasks that can be allocated wherever in the world the best resources within Cognizant exist based on cost, expertise and availability while at the same time maintaining collaboration and integration to ensure timely and high-quality delivery.

    Keywords: Customer Relationship Management; Knowledge Sharing; Resource Allocation; Competitive Advantage; Information Technology; Information Technology Industry;

    Citation:

    Eccles, Robert G., David Lane, and Prabakar 'PK' Kothandaraman. "Cognizant Technology Solutions." Harvard Business School Case 408-099, January 2008. (Revised May 2011.) View Details
  41. A Note on Compensation Research

    This note provides guidelines to consider and reviews the sources available for compensation research. Having an understanding of the “outside option,” that is effectively the average salary being offered for a position in a specific type of firm is an important component of conducting analysis for compensation decisions. The information in this note will help in locating the information necessary for this type of analysis.

    Keywords: Decision Choices and Conditions; Compensation and Benefits; Jobs and Positions; Research;

    Citation:

    Eccles, Robert G., Boris Groysberg, and Ann Cullen. "A Note on Compensation Research." Harvard Business School Background Note 408-114, February 2008. (Revised May 2011.) View Details
  42. Addleshaw-Goddard LLP

    Addleshaw-Goddard (AG), the 15th largest law firm in the U.K., is seeking ways to serve larger clients on more important legal matters. Part of this strategy involves its "Client Development Centre (CDC)," an innovative idea and set of services launched by Dr. Jim Hever who holds a Ph.D. in Strategic Leadership Development. The mission of the CDC is to improve the capabilities of clients' in-house legal departments, such as by making them better partners with the business units and improving their leadership skills. The CDC has adopted an innovative pricing structure. Rather than charging direct fees for these consulting services, it proposed to the client that it contract with the firm for five times this amount in legal fees that might otherwise have gone to another law firm. It is in this way that AG hopes to increase its position in its larger clients. AG has also developed a very systematic program for identifying and serving its key clients, developed in collaboration with Cranfield School of Management. It is these clients that will be the focus of the efforts for the CDC. In addition, the firm has co-developed a training program with Cranfield to improve the skills of its own partners. The case explores whether these initiatives will lead to a long-term competitive advantage. The firm believes what really will produce competitive advantage is its "Me-To-You-Mindset" initiative that encourages partners to look at the world through their clients' eyes. At the end of the case Hever is reflecting on a proposal he submitted for providing CDC services to one of the largest U.K. companies. The general counsel wants to pay for these services in cash should he decide to accept the proposal, rather than hiring AG for more legal work. Hever is wondering if this is a good way to take advantage of recent reforms allowing law firms to provide other professional services, like consulting, or if this is "off-strategy" for the mission of the CDC.

    Keywords: Price; Innovation and Invention; Service Operations; Partners and Partnerships; Competitive Advantage; Diversification; Legal Services Industry; United Kingdom;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, and James Weber. "Addleshaw-Goddard LLP." Harvard Business School Case 409-056, March 2009. (Revised May 2011.) View Details
  43. The Credit Suisse/Gerson Lehrman Group Alliance

    The equity research department of Credit Suisse and the expert network firm of Gerson Lehrman Group, historically competitors, have established a strategic alliance which both believe will give them a competitive advantage. Under the leadership of its head of equity research, Stefano NateIIa, Credit Suisse has responded to the continuing pressures on the sell-side research function with a focus on making it a revenue center. One pressure on sell-side research is the introduction of alternative business models for providing sell-side research, such as from expert networks like the Gerson Lehrman Group (GLG). GLG has established a network of nearly 200,000 experts who provide advice to institutional investors in a different way, which emphasizes private consultations with these experts about questions of very specific interest to the investor. Natella and Saint-Amand have agreed to a two-year alliance which gives the analysts at Credit Suisse access to the experts in GLG's network, as a way of improving the quality of their research. Credit Suisse can also get additional revenues by placing its analysis in the GLG network, although under some severe constraints. GLG gets additional revenues from its contract with Credit Suisse and from introductions to other potential clients that Credit Suisse will make. It also grows its network from the addition of the analysts at Credit Suisse. The alliance has been announced just before the financial markets began their meltdown in October of 2008, and both Natella and Saint-Amand are wondering what this means for the future of the alliance.

    Keywords: Business Model; Financial Crisis; Investment Banking; Innovation and Invention; Alliances; Social and Collaborative Networks; Competitive Advantage; Banking Industry;

    Citation:

    Eccles, Robert G., and Laura Winig. "The Credit Suisse/Gerson Lehrman Group Alliance." Harvard Business School Case 409-046, March 2009. (Revised May 2011.) View Details
  44. a-connect: In Search of Talent Partners (B)

    The a-connect: In Search of Talent Partners (B) case updates company changes since the (A) case. Key updates include leadership and management appointments and organizational changes.

    Keywords: Business Model; Selection and Staffing; Leadership; Growth and Development Strategy; Organizational Change and Adaptation; Organizational Structure; Consulting Industry;

    Citation:

    Eccles, Robert G., and Penelope Rossano. "a-connect: In Search of Talent Partners (B)." Harvard Business School Supplement 411-085, March 2011. (Revised March 2013.) View Details
  45. Mistry Architects (A)

    Describes an architecture firm founded and run by a husband and wife team, Sharukh and Renu Mistry, that emphasizes "green" building. The firm presents an unusual mix of projects-spanning the spectrum from larger corporate projects to small private homes. The mix also includes more profitable work and projects deliberately selected for social good, including the design of orphanage communities for SOS Children's International and other nonprofit organizations. The mix engages teams of young architects in different kinds of learning opportunities and allows them to manage these projects with an unusually high level of independence. The firm's founders are dedicated to being both very client-oriented and environmentally responsible. This can lead to some difficult choices and the case illustrates one example. The firm has been commissioned by SOS to design homes for some villages destroyed in the December 24, 2004 tsunami. The preferred design is thatch roofs which is in keeping with the local environment. However, the villagers want a more functional (and more expensive) reinforced cement concrete roof. Sharukh must decide which of his principles is to dominate in this situation.

    Keywords: Family Business; Customer Focus and Relationships; Design; Housing; Corporate Social Responsibility and Impact; Business and Community Relations; Environmental Sustainability; Nonprofit Organizations; Conflict and Resolution;

    Citation:

    Edmondson, Amy C., Robert G. Eccles, and Mona Sinha. "Mistry Architects (A)." Harvard Business School Case 609-044, February 2009. (Revised April 2011.) View Details
  46. Mistry Architects (B)

    This case is a follow-up of Mistry Architects: Innovating for Sustainability (A) (Case 609-044). In Case (A) Sharukh and Renu Mistry found and run an architectural firm dedicated to being both client-oriented and environmentally responsible. The case uses a difficult design decision in a tsunami rehabilitation project to illustrate the challenges faced by professional services firms, and the role of innovation in meeting the needs of multiple stakeholders. The specific design decision is to make a choice between thatch roofs which are environmentally friendly, versus reinforced cement concrete roofs that the villagers desire for its functionality. Case (B) reveals and explains the firm's choice, while describing how the community rebuilds itself after the tsunami, as well as how the firms evolves.

    Keywords: Problems and Challenges; Emerging Markets; Business and Stakeholder Relations; Natural Disasters; Environmental Sustainability; Product Design; Innovation and Invention; Construction Industry;

    Citation:

    Edmondson, Amy C., Robert G. Eccles, and Mona Sinha. "Mistry Architects (B)." Harvard Business School Supplement 609-064, February 2009. (Revised April 2011.) View Details
  47. Mistry Architects (C)

    This case is a follow-up to "Mistry Architects: Innovating for Sustainability (A)" (Case 609-044) and (B) (Case 609-064). In Case (A) Sharukh and Renu Mistry founded and run an architectural firm dedicated to being both client-oriented and environmentally responsible. The case uses a difficult design decision in a tsunami rehabilitation project to illustrate the challenges faced by professional services firms and the role of innovation in meeting the needs of multiple stakeholders. The specific design decision is to make a choice between thatch roofs, which are environmentally friendly, versus reinforced cement concrete roofs that the villagers desire for their functionality. Case (B) reveals and explains the firm's choice, while describing how the community rebuilds itself after the tsunami, as well as how the firm evolves. The (C) case discusses the future plans of the firm including growth and succession issues.

    Keywords: Decision Choices and Conditions; Growth and Development Strategy; Management Succession; Corporate Social Responsibility and Impact; Business and Community Relations; Nonprofit Organizations; Environmental Sustainability;

    Citation:

    Edmondson, Amy C., Robert G. Eccles, and Mona Sinha. "Mistry Architects (C)." Harvard Business School Supplement 609-086, February 2009. (Revised April 2011.) View Details
  48. Heidrick & Struggles and Standard Chartered Bank: Managing Global Key Accounts

    Daren Kemp, a partner at leadership consultancy and executive search firm Heidrick & Struggles, is responsible for the firm's relationship with Standard Chartered Bank (Standard Chartered). Standard Chartered is one of 94 companies in Heidrick's strategic partners program (SPP). The purpose of the SPP is to build strategic, value-based relationships with clients. Kemp joined Heidrick in 2008 and by 2010 has successfully built a strong relationship with Standard Chartered. The case describes how Kemp and his team grew this relationship and raises questions about what can be learned from this experience and applied to the other accounts in the SPP.

    Keywords: Customer Relationship Management; Service Delivery; Partners and Partnerships; Business Strategy; Consulting Industry; Employment Industry;

    Citation:

    Eccles, Robert G., and Kerry Herman. "Heidrick & Struggles and Standard Chartered Bank: Managing Global Key Accounts." Harvard Business School Case 411-011, July 2010. (Revised March 2013.) View Details
  49. a-connect: In Search of Talent Partners (A)

    a-connect was started in 2002 by three former McKinsey partners who wanted to develop an alternative business model consulting firm, which they have positioned as a high-end staffing company. The company has been very successful, growing to revenues of CHF 30 million with offices in Zürich, Düsseldorf, Boston, San Francisco, Hong Kong, and Singapore. Instead of hiring full-time employees, the company uses a pool of 700 independent professionals (IP) who are typically former consultants from firms like Bain, BCG, and McKinsey. These professionals are managed by Talent Partners who match up IPs with client needs. One of the biggest challenges the firm faces is finding people who can fill this Talent Partner role since it requires a wide range of interpersonal and business development skills. As a way of instilling discipline in processes and procedures, from the very beginning the company set the objective of doing an IPO as a staffing company, thereby hoping to get the multiple of that category. Achieving this will require substantial growth in order to get to revenues of CHF 100 million, which they think is the size they need to be. Through the "Crystal Initiative" the company reviewed the three strategic choices of leveraging the operating platform, expanding the service portfolio, and focusing on the Global Sliver . They chose the latter, which means they decided to focus on getting deeper penetration into their existing large accounts. At the end of the case the founders are wondering if an IPO is still the right thing to do.

    Keywords: Business Model; Decision Choices and Conditions; Initial Public Offering; Selection and Staffing; Growth and Development Strategy; Marketplace Matching; Expansion; Consulting Industry;

    Citation:

    Eccles, Robert G., and Dilyana Karadzhova. "a-connect: In Search of Talent Partners (A)." Harvard Business School Case 409-036, November 2008. (Revised March 2011.) View Details
  50. First Boston's Union Carbide Deal: Acquiring a New Client (TN)

    Teaching Note for 897201.

    Keywords: Governing and Advisory Boards; Negotiation Offer; Investment Banking; Relationships; Revenue; Capital Structure; Chemical Industry;

    Citation:

    Eccles, Robert G., and Penny Rossano. "First Boston's Union Carbide Deal: Acquiring a New Client (TN)." Harvard Business School Teaching Note 411-090, March 2011. View Details
  51. Cognizant 2.0: Embedding Community and Knowledge Into Work Processes

    Knowledge management has been a high priority for Cognizant Technology Solutions since its inception since its global delivery model requires the global sharing of knowledge. Its first major tool was called the Knowledge Management Appliance but as Web 2.0 tools came into wider use, this evolved into what the company called "Cognizant 2.0" (C2) which was designed to ensure that the KM Appliance capabilities for storing documents and participative tools such as blogs and wikis were directed towards supporting business goals. This required the development of a set of structured work process guidelines and tasks for each major type of work performed internally and for clients. Increasing awareness amongst its clients about C2 has led the company into considering whether it should turn this into a client-facing service offering itself. As its clients become more interested in knowledge management within their own companies, the interest in a C2-based offering could grow.

    Keywords: Knowledge Management; Knowledge Sharing; Knowledge Use and Leverage; Product Development; Service Delivery; Business Processes; Organizational Structure; Cooperation; Information Technology Industry;

    Citation:

    Eccles, Robert G., and Thomas H. Davenport. "Cognizant 2.0: Embedding Community and Knowledge Into Work Processes." Harvard Business School Case 410-084, March 2010. (Revised February 2011.) View Details
  52. Eden McCallum: A Network-Based Consulting Firm (A)

    Eden McCallum pioneered the network-based ("virtual") consulting firm model in the U.K. Contracting freelance consultants on a per-project basis keeps overheads lean so that Eden McCallum's fees are a fraction of the big firms' rates. Their flexible, low-cost model has attracted top-notch corporate clients, resulting in steady double-digit annual growth in its first nine years. In January 2009, however, the global economic crisis has dramatically reshaped the competitive landscape and the founders must decide between pursuing their high-growth strategy versus retrenching—including cutting costs and pulling out of their first international expansion that they had launched the prior year. This case explores how the elements of a firm's innovative model reinforce each other and what happens when the environment changes.

    Keywords: Business Model; Decision Choices and Conditions; Financial Crisis; Growth and Development Strategy; Expansion; Consulting Industry; United Kingdom;

    Citation:

    Gardner, Heidi K., and Robert G. Eccles. "Eden McCallum: A Network-Based Consulting Firm (A)." Harvard Business School Case 410-056, September 2009. (Revised February 2011.) View Details
  53. Shanghai Diligence Law Firm (A)

    Shanghai Diligence Law Firm, started in January 2006, is a rapidly growing law firm in China's burgeoning legal services market. In addition to the usual challenges facing all professional service firms (picking and retaining talent and building a desired client portfolio), the firm faces some challenges and opportunities that are unique to its setting in China and the fact that the firm is not yet three years old. The legal profession in China is a new and rapidly growing one with a large number of small firms all trying to carve out a distinctive niche for themselves. One of the partners in the firm, Joseph Shang, has created an innovative compensation system he calls the "A-B-C-D Model" which enables even the most junior associates to earn compensation for bringing in new business. This model is a kind of hybrid between the typical compensation system found in a Chinese law firm and those found in U.K. and U.S. law firms. The goal of this approach to compensation is to enable the firm to get and keep promising lawyers while also giving them an incentive to help grow the business. Somewhat unusual for a typical law firm, or any type of professional service firm, this compensation model is only used in Shang's practice. The founder and CEO, Chenyao Wu, has his own version of an "A-B-C-D Model," and discussions are taking place about what the firm should be doing about compensation. In addition to compensation, the firm is grappling with issues regarding divergent views amongst the partners, building a brand in a very competitive marketplace, and the stability of the core team. Finally, the firm has been presented with an opportunity to join two other firms in a three-way merger and the partners are debating the risks and opportunities in going forward with this.

    Keywords: Business Startups; Compensation and Benefits; Retention; Growth and Development Strategy; Service Operations; Motivation and Incentives; Legal Services Industry; China;

    Citation:

    Eccles, Robert G., and Catherine Zhang. "Shanghai Diligence Law Firm (A)." Harvard Business School Case 409-065, February 2009. (Revised March 2013.) View Details
  54. Talent Recruitment at frog design Shanghai

    This case illustrates the complexity and importance of hiring decisions in the Chinese operation of a global design and innovation firm.

    Keywords: Selection and Staffing; Recruitment; Talent and Talent Management; Decision Making; Complexity; Innovation and Invention; Shanghai;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, and Yi Kwan Chu. "Talent Recruitment at frog design Shanghai." Harvard Business School Case 411-040, December 2010. (Revised November 2013.) View Details
  55. Managing Creativity at Shanghai Tang

    Shanghai Tang is a luxury brand that focuses on Chinese-inspired fashion, accessories, and home decoration products. In fall 2008, amidst a growing global economic crisis, Raphael Ie Masne, executive chairman of Shanghai Tang, had to decide what to do with the recently vacant creative director position. Did Shanghai Tang need to hire a new creative director at this uncertain economic time? Or could he take on the role of the creative director himself? In addition, Ie Masne had to grapple with balancing the perennial tensions between business imperatives and the creative aspirations of his designers. How could he better manage employees who see themselves as artists?

    Keywords: Talent and Talent Management; Financial Crisis; Employee Relationship Management; Selection and Staffing; Creativity; Apparel and Accessories Industry;

    Citation:

    Chua, Roy Y.J., and Robert G. Eccles. "Managing Creativity at Shanghai Tang." Harvard Business School Case 410-018, August 2009. (Revised November 2010.) View Details
  56. DLA Piper and Christie's International (B)

    Nigel Knowles, joint CEO and Managing Partner of international law firm DLA Piper, responds to Christie's complaint that the relationship between the two organizations has major shortcomings and needs to be improved or will otherwise be terminated. A number of actions taken in the course of several months lead Christie's to regain trust in its legal services provider and conclude that the relationship is back on track.

    Keywords: Law; Leadership Style; Organizations; Relationships; Trust; Attorney and Client Relationships; Legal Services Industry;

    Citation:

    Eccles, Robert G., and Dilyana Karadzhova. "DLA Piper and Christie's International (B)." Harvard Business School Supplement 411-065, October 2010. (Revised November 2010.) View Details
  57. DLA Piper and Christie's International (A)

    International law firm DLA Piper is selected as major legal services provider of renowned art business Christie's International. Nine months after the start of relationship, the client calls Nigel Knowles, DLA Piper joint CEO and Managing Partner, with a litany of complaints regarding the relationship. The list includes poor relationship management, disjointed billings and reporting, undelivered value-add, and local issues in several offices. Knowles has to find a way to rescue the relationship or otherwise risk the firm's reputation to manage global relationships.

    Keywords: Attorney and Client Relationships; Law; Practice; Reputation; Ethics; Risk and Uncertainty; Legal Services Industry;

    Citation:

    Eccles, Robert G., and Dilyana Karadzhova. "DLA Piper and Christie's International (A)." Harvard Business School Case 411-064, October 2010. View Details
  58. Buro Happold

    Padraic Kelly became Managing Director (MD) of the engineering services firm Buro Happold in 1996. One of his first initiatives was "Aim for Growth," which was intended to help the firm grow beyond its current size where it was constrained by a structure of having each of the firm's founding partners responsible for a group of 25-30 engineers. This initiative was very successful, but the firm then found itself with a lack of leadership skills at all levels of the organization to manage a company of a much larger size, growing by a factor of 10 over 10 years. In response, Buro Happold developed its first formal internal training programs under the name of "Archimedes Academy." The first two programs were (1) the Job Leader Program, targeted for senior engineers and designed to help them be more effective in working with clients and (2) the Project Leader Program, targeted for project leaders and designed to help them develop the "softer" management skills to complement their technical ones. A distinctive aspect of Archimedes Academy is that these first programs were developed and delivered by the cohors who first attended them. Rather than partner with a university to develop an accredited program, the firm decided it would be better off developing the program itself, with the help of an outside consultant who had done something similar at his previous employer, in order to make sure the programs were specific enough to Buro Happold's needs and relevant to the firm's culture. The first two programs were a big success, and the firm expanded the training offerings under the Archimedes Banner. The case ends with a client, a Middle Eastern city authority, asking Buro Happold Consulting, a new unit created by Padraic Kelly after stepping down as MD in 2006, to develop a training program for them. This request raises the question of whether this internal training capability should become the basis of an external service offering.

    Keywords: Training; Entrepreneurship; Leadership Development; Growth and Development Strategy; Management Skills; Organizational Culture; Programs;

    Citation:

    Eccles, Robert G., and Kerry Herman. "Buro Happold." Harvard Business School Case 409-021, April 2009. (Revised August 2010.) View Details
  59. One Firm One Future at Davis Langdon (A)

    Senior Partner Rob Smith just led construction consultancy firm Davis Langdon through a major organizational change in Europe and the Middle East. In the past, compensation arrangements had not incentivized partners to collaborate across the firm to serve clients' increasingly global and complex needs. In 2007, under Smith's leadership, the partnership agreed to implement holistic change. This included a shift from geographical to sector structure and a new profit-sharing system that encouraged partners to work together for the benefit of the firm as a whole. Amidst the global economic crisis, Smith must decide how to extend on a global basis the alignment the firm has begun to achieve in Europe and the Middle East.

    Keywords: Profit Sharing; Global Strategy; Compensation and Benefits; Leading Change; Organizational Change and Adaptation; Partners and Partnerships; Cooperation; Expansion; Consulting Industry; Europe; Middle East;

    Citation:

    Eccles, Robert G., and Kaitlyn A. Simpson. "One Firm One Future at Davis Langdon (A)." Harvard Business School Case 411-006, July 2010. (Revised March 2013.) View Details
  60. The Greening of DUMBO

    The Brooklyn, New York, neighborhood Down Under Manhattan Bridge Overpass (DUMBO) has seen a revitalization since the late 1970s. The neighborhood's business improvement district (BID) is charged with supplementing New York City's efforts in several areas, including safety, sanitation, marketing, promotional programs, capital improvements, and beautification. Since 2007, the DUMBO BID has done "small things that are collectively big" to improve the area and are in line with New York City's "plaNYC," a blueprint to become a "sustainable city" by increasing water quality, energy efficiency, and open space while decreasing greenhouse gas emissions. This year, the DUMBO BID must decide if it should continue its small actions or pursue a neighborhood-wide Leadership in Energy and Environmental Design (LEED) rating while constrained by its budget, staff size, and the recession.

    Keywords: Transformation; Local Range; Business and Community Relations; Business and Government Relations; Environmental Sustainability; Wastes and Waste Processing; Urban Development; Public Administration Industry; New York (city, NY);

    Citation:

    Eccles, Robert G., Amy C. Edmondson, and Abhijit Prabhu. "The Greening of DUMBO." Harvard Business School Case 410-079, March 2010. (Revised June 2010.) View Details
  61. Arup: Building the Water Cube

    Arup, an engineering firm, collaborated with PTW Architects and China Construction Design Institute to develop a design for the 2008 Beijing Summer Olympics Aquatics Center design competition. Their winning concept for the Water Cube combined elements of Chinese culture with innovative materials and sustainability requirements. The multidisciplinary and cross-company team, based in Sydney, Australia with counterparts in Beijing, faced project management challenges and cultural differences. The Water Cube became an iconic image during the Olympics, and managers at Arup now wonder how to leverage the impact within the company.

    Keywords: Buildings and Facilities; Environmental Sustainability; Design; Construction; Cross-Cultural and Cross-Border Issues; Projects; Groups and Teams; Real Estate Industry; Sports Industry; Beijing; Sydney;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, and Dilyana Karadzhova. "Arup: Building the Water Cube." Harvard Business School Case 410-054, February 2010. (Revised June 2010.) View Details
  62. Miles Everson at PricewaterhouseCoopers

    Miles Everson, a partner at PricewaterhouseCoopers (PwC), is the Global Engagement Partner (GEP) for a large U.S. financial institution and about to take over this role for a much larger global financial institution. The GEP role is a critical one at PwC. GEPs have responsibility for the firm's largest and most important clients. They must manage a vast external network of client employees and an equally vast internal network of the firm's employees. The GEP needs to have a deep understanding of the client and its industry in order to identify opportunities and problems where the firm's resources can be brought to bear and to match the firm's capabilities to the client's needs. GEPs must be able to simultaneously manage a larger number of tasks, often under great time pressure. This case describes how a very effective GEP-Miles Everson, who was named one of the top 25 consultants for 2006 by Consulting magazine-performs this role and provides insights into the attitudes, skills, and subject matter expertise necessary to be successful in this role. Insights into how Everson does this job are provided by both PwC and client personnel. As is often the case, Everson is responsible for a business (in his case Governance, Risk, and Compliance), and so he has substantial internal management responsibilities as well. The case raises questions about whether he will be able to retain these internal management responsibilities when he takes over a much larger and more complex global client and becomes the Senior Engagement Partner (SEP) on his current client. (SEPs perform an oversight role for the work being done by the GEP and his or her team and are typically very senior members of the firm.) The case also raises areas where Everson can improve.

    Keywords: Experience and Expertise; Customer Relationship Management; Globalized Firms and Management; Managerial Roles; Consulting Industry;

    Citation:

    Eccles, Robert G., and David Lane. "Miles Everson at PricewaterhouseCoopers." Harvard Business School Case 410-062, November 2009. (Revised March 2013.) View Details
  63. Living PlanIT

    Living PlanIT is a start-up company that has developed a new, innovative business model for sustainable urbanization. This model reflects the software and technology backgrounds of its founders, Steve Lewis and Malcolm Hutchinson, and is in vivid contrast to other models for green or smart cities that are variations on a massive real estate development project. The main economic engine driving Living PlanIT's model is a partner channel strategy adopted from the high technology industry. The case shows how the Living PlanIT business model has evolved from the original vision of Lewis and Hutchinson to radically transform the construction industry to a go-to-market partnership model using the real estate as a "showroom" for evolving sustainable urban technology—a $3 trillion global market over the next 20 years. Living PlanIT is developing its first project, a new city called PlanIT Valley, outside of Porto, Portugal. The company has clarified its vision and is moving into the implementation phase, which involves fundraising, signing up channel partners, and negotiating various issues with the Portuguese government for its pilot project. Success in PlanIT Valley will translate into a strong market position as global population and demand for new cities increases, particularly in developing countries such as China and India.

    Keywords: Business Model; Business Startups; Development Economics; Entrepreneurship; City; Technological Innovation; Environmental Sustainability; Urban Development; Construction Industry; Green Technology Industry; Real Estate Industry; Portugal;

    Citation:

    Eccles, Robert G., Amy C. Edmondson, Susan Thyne, and Tiona Zuzul. "Living PlanIT." Harvard Business School Case 410-081, February 2010. (Revised November 2013.) View Details
  64. Rebranding at Oliver Wyman Group

    Keywords: History; Integration; Organizational Change and Adaptation; Marketing Strategy; Service Operations; Organizational Structure; Organizational Culture; Brands and Branding; Consulting Industry;

    Citation:

    Eccles, Robert G., and Kaitlyn Simpson. "Rebranding at Oliver Wyman Group." Harvard Business School Case 409-055, November 2008. (Revised February 2010.) View Details
  65. CalPERS' Emerging Equity Markets Principles

    The California Public Employees' Retirement System (CaIPERS)—the largest public pension fund in the U.S.—had adopted a new principles-based approach to investing in emerging market equities in November 2007. Previously, CalPERS internal and external money managers were prohibited from investing in certain developing countries because the countries failed to meet certain standards for political stability, human rights, market regulation, etc. The new principles-based approach would allow CalPERS money managers to invest in companies that were financially attractive and competitively positioned provided their business practices were sound from an environmental, social, and governance (ESG) perspective regardless of where they were located. By allowing investment in these types of companies regardless of where they operated, CalPERS had hoped to improve its investment returns. The case is set in January 2009, a little more than a year from the time the principles-based approach had been adopted. It is a good time to review the implementation process and how the new principles-based approach changed CaIPERS' emerging market equities portfolios and their returns. The case focuses on one of CalPERS' external fund managers, Dimensional Fund Advisors (DFA), and a service provider to DFA and CalPERS, KLD Research and Analytics. One question facing CalPERS with this new approach is whether to invest in PetroChina, which had been off-limits previously due to the screening criteria that were used to identify which countries qualified for emerging markets investments. The case also raises the issue of the difference between "value" and "values" investing and the future importance of ESG investing.

    Keywords: Values and Beliefs; Investment Return; Investment Funds; Investment Portfolio; Emerging Markets; Corporate Social Responsibility and Impact; Value; Financial Services Industry; Public Administration Industry; China; California;

    Citation:

    Eccles, Robert G., and Aldo Sesia. "CalPERS' Emerging Equity Markets Principles." Harvard Business School Case 409-054, March 2009. (Revised October 2009.) View Details
  66. KPMG (A): A Near-Death Experience

    Describes the way in which "Big Four" auditor KPMG dealt with an indictment stemming from the firm's sale of tax shelters. In 2005 Tim Flynn has been KPMG Chairman for a matter of days when he learns that the government is preparing to indict the firm on charges of selling illegal tax shelters. Flynn has to decide whether to fight the charges and risk the dissolution of his firm, or cooperate with investigators, effectively keeping the firm safe but sacrificing the tax partners involved in the shelter sales. Further, the case describes the government's prosecution of former KPMG tax partners and asks students to determine whether prosecutorial tactics during the government's investigation were warranted or represented a case of overreaching.

    Keywords: Accounting Audits; Crime and Corruption; Taxation; Lawsuits and Litigation; Crisis Management; Partners and Partnerships; Accounting Industry; Service Industry;

    Citation:

    Eccles, Robert G., and Eliot Sherman. "KPMG (A): A Near-Death Experience." Harvard Business School Case 408-073, December 2007. (Revised June 2009.) View Details
  67. Heidrick & Struggles International, Inc.

    As CEO of leading executive search firm Heidrick & Struggles for the past 18 months, Kevin Kelly was pleased with his accomplishments so far but concerned about threats he perceived to Heidrick's position at the highest levels of the executive search business. In response, Kelly had begun making strategic investments in firms offering technology-based solutions, but had not yet made significant progress convincing Heidrick's search consultants about the significance of the threats, or the risks and opportunities being created by information technology and the Internet. The increased emphasis Kelly placed on building leadership consulting services was itself a big change. The case asks what levers Kelly can use, from culture to compensation, to make the challenges to Heidrick's traditional business model understood and how to implement the strategic initiatives he has launched.

    Keywords: Business Model; Recruitment; Disruptive Innovation; Organizational Change and Adaptation; Organizational Culture; Competition; Competitive Strategy; Employment Industry; Service Industry;

    Citation:

    Eccles, Robert G., and David Lane. "Heidrick & Struggles International, Inc." Harvard Business School Case 408-066, April 2008. (Revised April 2009.) View Details
  68. The Carlyle Group

    This case describes the investment philosophy, organizational structure, management processes and culture of the largest private equity firm in the world measured in terms of assets under management ($89 billion). The Carlyle Group is distinctive in several ways, including its origins in Washington, D.C. and its early commitment to organizing the firm and its investment decision-making process along industry lines. The latter enables the firm to build deep knowledge and capabilities in particular sectors which makes it possible for it to identify investment opportunities that will not be apparent to others, such as in industries where the fundamentals do not look promising. Carlyle is also very geographically diverse with 33 offices around the world, giving it a higher overhead structure than some of its peers. Through the "One Carlyle" approach which emphasizes collaboration, information sharing and knowledge transfer across sectors and geographical locations, the firm seeks to leverage the vast array of capabilities it has built over time. It is attempting to improve on this through the use of information technology. The case describes the firm's foray into financial services, an industry largely neglected by PE firms due to the inability to use leverage to improve returns, and professional services, another largely-neglected sector because the primary asset is human capital. The case also describes how the firm had to learn to develop a different approach to PE investing in Asia. Looking forward, the firm faces huge challenges in delivering attractive returns to its investors given its size and the size of the PE industry as a whole. These challenges are compounded by the financial crisis happening at the time of the case and the prospects of a potentially severe economic recession, raising questions about the future prospects of the PE industry and its role in the capital markets.

    Keywords: Financial Crisis; Assets; Private Equity; Investment; Global Strategy; Innovation and Invention; Knowledge Use and Leverage; Management Practices and Processes; Organizational Structure; Information Technology; Asia; Washington (state, US);

    Citation:

    Eccles, Robert G., and Carin-Isabel Knoop. "The Carlyle Group." Harvard Business School Case 409-050, January 2009. (Revised April 2009.) View Details
  69. Martha Schwartz (A): Growing a Landscape Architecture Firm

    The landscape architecture firm of Martha Schwartz Partners (MSP) has been retained by the Danish architecture firm Henning Larsen Architects (HLA) to perform the public realm part of a project being done under the auspices of Her Excellency Mrs. Asma al-Assad the First Lady of Syria. HLA is responsible for the Discovery Center. The overall project is an important initiative for an NGO called Massar, whose mission is the educational and personal development of children in Syria between the ages of 5 and 15. This project is an extremely high-profile one given its setting and sponsorship. It is a complex project and of a scope and scale not done in Syria for decades. Neither the client (Massar and ultimately the First Lady) have experience with these projects or working with HLA and MSP. HLA and MSP have themselves never worked together before. The inherent complexity of the project and problems in the rapidly growing MSP (including having work done in both Cambridge, MA and London) and with Schwartz's leadership style and personality have contributed to a number of problems on the project, including delays, poor communications, and an almost constant state of crisis. In order to address these problems and to maintain the client for the next and more lucrative stages of the project, HLA has called for a meeting with MSP at their offices in Copenhagen. The purpose of this meeting is to understand and resolve the problems in this project. The case includes nearly 20 minutes of live and mostly unedited footage of this real meeting that vividly reveals personalities of the major actors involved from HLA and MSP, the perspectives each have on the causes of the problems on the project, their views on what should be done, and the process dynamics of the conversation. Such video material is extremely rare and provides a large variety of teaching opportunities.

    Keywords: Leadership; Business Strategy; Adaptation; Growth and Development Strategy; Growth Management; Strategy; Construction Industry; Syria;

    Citation:

    Eccles, Robert G., and Kerry Herman. "Martha Schwartz (A): Growing a Landscape Architecture Firm." Harvard Business School Video Case 409-703, April 2009. View Details
  70. Russell Reynolds Associates, Inc.

    This brief document presents the schedule of events for Russell Reynolds Associates 2007 New Associates Program, an opportunity for recent hires to spend time with each other and the firm's senior leadership while learning subtleties of the search process amid bonding to the corporate culture.

    Keywords: Talent and Talent Management; Learning; Recruitment; Leadership; Organizational Culture; Programs; Consulting Industry; Service Industry;

    Citation:

    Eccles, Robert G., and David Lane. "Russell Reynolds Associates, Inc." Harvard Business School Case 408-067, March 2008. (Revised February 2009.) View Details
  71. KPMG (B): Risk and Reform

    Under the leadership of Tim Flynn, Chairman and CEO of KPMG, the firm made a number of changes in compensation, governance, and culture in order to address the underlying reasons for actions that occurred prior to him becoming CEO that led to the accounting giant paying $456 million to the federal government over allegedly selling illegal tax shelters. These changes included a common compensation bonus pool for the entire firm and rewarding people for professionalism as much as for business development; strengthening governance by adding a lead director to the board, removing the chairman and deputy chairman from board member selection, and creating separate committees for professional practice, ethics, and compliance and operations; and enhancing its ethics and compliance program through human resource processes (e.g., recruiting, orientation, training, and exit interviews), implementing periodic and required ethics courses, active firm leadership in these courses, and establishing multiple channels of communication for employees to raise concerns with an explicit "no retaliation" policy. In January 2007, 86% of the employees were proud to work for the firm, compared to 60% in 2005. Employee turnover was at an all-time low. And the Tax Practice, the source of the problems, was the fastest growing such practice in the Big Four accounting firms at 18%.

    Keywords: Communication Strategy; Ethics; Corporate Governance; Governance Compliance; Governing Rules, Regulations, and Reforms; Governing and Advisory Boards; Compensation and Benefits; Employee Relationship Management; Organizational Change and Adaptation;

    Citation:

    Eccles, Robert G., and Eliot Sherman. "KPMG (B): Risk and Reform." Harvard Business School Supplement 409-075, January 2009. View Details
  72. Eden McCallum

    This case illustrates the leadership and management challenges of starting a new firm based on a new business model and how success creates pressures that challenge the work/life balance which was one of the original goals of its two founders. The case also raises issues about the changing nature of careers and changing preferences people have for structuring their personal and professional lives.

    Keywords: Business Model; Business Startups; Entrepreneurship; Leadership; Work-Life Balance;

    Citation:

    Gardner, Heidi K., and Robert G. Eccles. "Eden McCallum." Harvard Business School Case 409-060, November 2008. View Details
  73. Uría Menéndez (A)

    Uria Menendez, the pre-eminent law firm in Iberia, is at a critical point in its long and distinguished history. Its newly appointed second generation co-managing Partners are facing some critical strategic decisions concerning how the firm should position itself in Iberia, geographical expansion to serve the needs of its clients, and its "Best Friends Network" with leading law firms in other countries. The firm must also address critical issues regarding the hiring, development per in work/life balance, and compensation of the top law school graduates the firm needs to maintain its position and reputation.

    Keywords: Global Strategy; Networks; Selection and Staffing; Work-Life Balance; Compensation and Benefits; Decision Making; Expansion; Legal Services Industry; Iberian Peninsula;

    Citation:

    Eccles, Robert G. "Uría Menéndez (A)." Harvard Business School Case 408-088, January 2008. (Revised March 2008.) View Details
  74. Uría Menéndez (C)

    The Uria Menendez C case describes the passing of the firm's founder, Rodrigo Uria, its continued success (including being one of the Top 10 MNA law firms in the world) and its decision to open an office in Warsaw.

    Keywords: Business Offices; Decisions; Success; Expansion; Legal Services Industry; Iberian Peninsula; Poland;

    Citation:

    Eccles, Robert G. "Uría Menéndez (C)." Harvard Business School Supplement 408-090, January 2008. (Revised March 2008.) View Details
  75. Uría Menéndez (B)

    The Uria Menendez (B) Cas describes the three major strategic options facing the firm. It can be used when the instructor wants to teach the case over two classes. The first class, based on the A case, explores the reason for the the firm's success. The B case describes the three main strategic options and the issues regarding each option. In the second class, students can debate each option.

    Keywords: Geographic Location; Law; Success; Strategic Planning; Expansion; Legal Services Industry; Iberian Peninsula;

    Citation:

    Eccles, Robert G. "Uría Menéndez (B)." Harvard Business School Supplement 408-098, January 2008. (Revised March 2008.) View Details
  76. Uría Menéndez (B) (Abridged)

    This one-page case, to be handed out in class, briefly lists the three major strategic options facing Uria Menendez.

    Keywords: Corporate Strategy; Law; Geographic Location; Expansion; Strategic Planning; Legal Services Industry; Iberian Peninsula;

    Citation:

    Eccles, Robert G. "Uría Menéndez (B) (Abridged)." Harvard Business School Supplement 408-089, January 2008. (Revised March 2008.) View Details
  77. Gerson Lehrman Group

    Gerson Lehrman Group (GLG) brought together decision makers in search of hard-to-find answers with specialized experts in nearly every imaginable field. Over time, GLG developed software to help minimize potential conflicts of interest among and between experts and their employers on the one hand, and the decision makers and their employers on the other. GLG CEO Alexander Saint-Amand needed to assess both whether the compliance mechanisms in place were adequate for all parties, and if so, how or whether the company could exploit them as a source of competitive advantage.

    Keywords: Experience and Expertise; Customer Focus and Relationships; Governance Compliance; Conflict of Interests; Competitive Advantage; Software; Consulting Industry;

    Citation:

    Eccles, Robert G., Jr., and David Lane. "Gerson Lehrman Group." Harvard Business School Exercise 408-076, February 2008. View Details
  78. Two Brattle Center: A Mental-Health Clinic in Search of a Viable Operating Model

    Two Brattle Center (TBC) is a struggling for-profit private mental health clinic based in Harvard Square. Its founder, Dr. Joan Wheelis, is a nationally recognized practicing psychiatrist who has developed outpatient treatment programs based on Dialectical Behavior Therapy (DBT) for patients with borderline personality disorder (BPD). These patients, typically adolescent girls and young women, struggle with emotional crises and are prone to destructive behaviors such as cutting, excessive use of alcohol, taking drugs and suicide attempts. These patients are very difficult to treat and TBC has developed programs that make a noticeable difference to these patients. DBT requires teams of people with different types of expertise and so the original operating model developed by Dr. Wheelis was one in which TBC was staffed by a large number of part-time clinicians, the "affiliate model." However, changes in the health care environment, particularly the advent of managed care, have put very real pressures on this model and the company is now in a state of crisis. Dr. Wheelis is trying to decide whether and how to keep it going. The key decision is whether to shift to a "staffing model" based on a larger number of full-time clinicians. This will require a larger patient population to make the economics of greater fixed capacity viable. Another constraint is the poor state of its basic financial systems. Morale is low and thus staff turnover is high, with many clinicians taking patients with them into their private practice when they go. TBC is trying to decide whether to join the Blue Cross Blue Shield network, which would increase its patient population but at rates much lower than it currently charges by only taking private patients. Dr. Wheelis is also pondering whether to start a non-profit foundation as a way of getting money to support its teaching and training programs, or even making the company a non-profit itself.

    Keywords: Business Model; For-Profit Firms; Decision Choices and Conditions; Financial Strategy; Health Care and Treatment; Health Disorders; Medical Specialties; Nonprofit Organizations; Emotions; Health Industry; United States;

    Citation:

    Eccles, Robert G. "Two Brattle Center: A Mental-Health Clinic in Search of a Viable Operating Model." Harvard Business School Case 408-103, January 2008. (Revised January 2008.) View Details
  79. KPMG Peat Marwick: The Shadow Partner

    KPMG Peat Marwick executives needed to decide whether to fund full development of "The Shadow Partner," the name coined to describe a worldwide information network that would link all KPMG professionals to each other and to a wealth of data bases and information services. Partners, by sharing and gathering information through the network, would be able to use the entire company's knowledge and experience to serve clients. Many partners felt that implementation of the shadow partner was vital, as clients had greater demands and competition in the accounting industry had escalated. Other partners questioned the necessity of the shadow partner. The firm had committed to establishing a technology committee to investigate shadow partner design and cost. Since the firm was a partnership, the partners eventually had to decide whether, and to what extent, to support shadow partner implementation.

    Keywords: Information Management; Data and Data Sets; Knowledge Management; Knowledge Use and Leverage; Networks; Partners and Partnerships; Information Technology;

    Citation:

    Eccles, Robert G., Jr. "KPMG Peat Marwick: The Shadow Partner." Harvard Business School Case 492-002, July 1991. (Revised October 1995.) View Details
  80. Rethinking the Corporate Workplace: Case Managers at Mutual Benefit Life

    In early 1991, a spirit of innovation and organizational change was in the air at Mutual Benefit Life, with the success of the new "case manager" program its most concrete manifestation. Using powerful computer workstations, case managers could see insurance applications through from start to finish, and many had been trained to do their own underwriting. The shift from manual bureaucracy to a new era of "Personalized Computing" would however present many new challenges to the company, particularly its human resources function. Objective is to explore the organizational changes necessitated by personal computer technology in the setting of a rapidly changing firm.

    Keywords: Organizational Change and Adaptation; Technological Innovation; Change Management; Information Technology; Insurance; Human Resources; Insurance Industry;

    Citation:

    Eccles, Robert G., Jr. "Rethinking the Corporate Workplace: Case Managers at Mutual Benefit Life." Harvard Business School Case 492-015, September 1991. View Details
  81. Jacobs Suchard: Reorganizing for 1992

    Jacobs Suchard, the Swiss-based coffee and chocolate producer, is preparing for the common market and EEC 1992. At the time of the case, the company is still organized toward independent, local country markets, and believes it must move toward a more global organization structure. The case covers actions taken to date and plans for the future.

    Keywords: Organizational Change and Adaptation; Expansion; Organizational Structure; Markets; Global Strategy; Food and Beverage Industry; Switzerland;

    Citation:

    Eccles, Robert G., Jr. "Jacobs Suchard: Reorganizing for 1992." Harvard Business School Case 489-106, May 1989. (Revised September 1989.) View Details
  82. Progressive Corp.'s Divisionalization Decision (A)

    Describes a company that is considering whether to establish an experimental division as a relatively independent profit center under a general manager. Data relevant to this decision include the company's strategy, markets, products, current structure, size, and the perceptions and interests of individual managers. Illustrates how both objective and subjective factors influence organizational design decisions.

    Keywords: Business Divisions; Decision Making; Data and Data Sets; Managerial Roles; Organizational Design; Situation or Environment;

    Citation:

    Eccles, Robert G., Jr. "Progressive Corp.'s Divisionalization Decision (A)." Harvard Business School Case 481-067, November 1980. (Revised August 1986.) View Details

Presentations

Other Publications and Materials

  1. Strategical Conception of the New Evaluation System for China's Sustainable Development

    China’s sustainable development faces three challenges: firstly, the follow-up momentum of sustainable economic growth and economic transformation is insufficient; secondly, some resources and environment loads have reached their limits; thirdly, some products affecting the health and rights of the people as well as the related bodies’behavior are challenging bottom lines of the law and the moral. These three aspects require to establish a new evaluation system including the indexes of economic performance, environmental performance, and social responsibility evaluation, which cover the bodies in three levels of the national, regional, and enterprises’, for the purpose of realizing the comprehensive evaluation of economic, environmental performance, and social responsibility. Considering that the lessons from the implementation of evaluation system of the green GDP, and before the forming of the system complexity model, the easiest issues first can be taken to establish the evaluation system of the economic, environmental, and social responsibility respectively, which will be integrated in practice by the executive bodies. The strategy of new evaluation system needs adjusting the structure of the original evaluation system with the idea of reform, and requires that the related development of the rule of law, including formulating relevant laws and the legal framework. This paper proposes three specific suggestions about the new sustainable evaluation system, and emphasizes that the evaluation on the basis of the integrated report is the specific performance of the new evaluation system strategy at the level of the enterprise.

    Keywords: sustainable development,new evaluation system,integrated report; China;

    Citation:

    Eccles, Robert G., and Peijun Duan. "Strategical Conception of the New Evaluation System for China's Sustainable Development." Art. 1. Zhongguo ke xue yuan yuan kan [Bulletin of the Chinese Academy of Sciences] 29, no. 4 (2014): 401–409. View Details
  2. Capturing the Link between Non-financial and Financial Performance in One Space

    Keywords: integrated reporting; sustainability; Integrated Corporate Reporting;

    Citation:

    Eccles, Robert G., Jess Schulschenk, and George Serafeim. "Capturing the Link between Non-financial and Financial Performance in One Space." In Making Investment Grade: The Future of Corporate Reporting, edited by Cornis van der Lugt and Daniel Malan, 43–48. United Nations Environment Programme, 2012. View Details

    Research Summary

  1. Sustainability and Integrated Reporting

    A sustainable strategy for a company is one that enables it to create value for shareholders over the long term while contributing to a sustainable society. In doing so, it must balance the needs of different types of providers of financial capital (e.g., shareholders and debt holders) and stakeholders representing various environmental and social interests of civil society. Typically tradeoffs are involved, although these can be reduced or even reversed through innovation. It is ultimately the responsibility of the board of directors to determine the relative emphasis a company places on providers of financial capital and other stakeholders and over what time frames in their fiduciary duty to represent the interests of the corporation as a legal entity. One mechanism for helping companies make these resource allocation decisions is integrated reporting in which a company communicates both internally and externally its financial, environmental, social, and governance performance and the relationships between them.

    One Report: Integrated Reporting for a Sustainable Strategy (with Michael P. Krzus), is the first book on this subject. One Report was the winner of the 2010 PROSE award in the category of Business, Finance, & Management. Professor Eccles continues his active research program on integrated reporting. Professor Eccles’ next book on the subject, The Integrated Reporting Movement: Meaning, Momentum, Motives, and Materiality (with Michael P. Krzus and Sydney Ribot) will be published in November 2014. This book introduces the ideas of an annual board of directors “Statement of Significant Audiences and Materiality” and the “Sustainable Value Matrix.” In developing these ideas, Professor Eccles worked closely with Mr. Tim Youmans.  He and Professor Eccles are now writing a book with the working title of “The Meaning of Materiality” which will be an in depth treatment of the ideas introduced in The Integrated Reporting Movement and will include a public policy perspective on the important but elusive concept of materiality. Youmans received his Master’s Degree in Public Administration from the Harvard Kennedy School (2013) and is a Harvard Kennedy School Lucius N. Littauer Fellow.

    In collaboration with Professor George Serafeim of the Harvard Business School, Eccles has been engaged in an extensive and continuing research program on sustainability. This has resulted in a number of articles and cases which explore how companies can develop and implement sustainable strategies. The audience for their work includes both academics and practitioners. For the latter, two relevant articles are The Performance Frontier: Innovating a Sustainable Strategy (with George Serafeim) and How to Become a Sustainable Company (with Kathleen Miller Perkins and George Serafeim). For both audiences, the research they have done with Professor Ioannis Ioannou of the London Business School comparing the characteristics and performance of a matched set of “High Sustainability” and “Low Sustainability” companies is relevant. (Is There an Optimal Degree of Sustainability? (with Ioannis Ioannou and George Serafeim).) Eccles and Serafeim are currently working on a book with the working title of “Mobilizing the Global 1000.” The premise of this book is that the increasing economic concentration in the world’s largest companies makes them a force even more important than governments in creating a sustainable society. Based on their research, Eccles and Serafeim have created an executive education program called “Aligning Sustainablity with Corporate Performance” and a doctoral seminar called “The Role of the Corporation in Society.”

     

    Professor Eccles is working in a number of ways to translate his research on sustainability and integrated reporting into practice. He is a member of the International Integrated Reporting Council (http://www.integratedreporting.org/) and the founding Chairman of the Sustainability Accounting Standards Board (SASB) ( www.sasb.org). Dr. Eccles is the co-founder, with Professor George Serafeim of Harvard Business School, of the Innovating for Sustainability social movement (https://www.facebook.com/innovatingforsustainability), and a member of the Advisory Board of the Institute for Sustainable Value Creation (https://www.conference-board.org).

    Keywords: sustainability; sustainability reporting;

  2. Building Capabilities in Professional Service Firms

    One of the most distinctive aspects of professional service firms is that the vast majority of the people who work in them are directly involved in serving clients.  Long-term success in a professional service firm requires obtaining and developing the right professionals (managing the talent market), obtaining and developing the right clients (managing the client market), and matching clients' needs with the professionals in the firm who have the appropriate capabilities.  Another distinctive aspect of professional service firms is the extent to which working for clients is the basis upon which both its individual professionals and the firm itself builds capabilities in order to satisfy new needs of existing clients and the needs of new clients.  This can occur in relatively modest and incremental ways, such as when a young associate is put on a project in an industry she hasn't worked in before. It can also occur in very major ways, such as when a client has a problem that has never been solved before and in helping the client solve this problem, the firm develops a major innovation that leads to a new service offering, not only for the firm but for the entire profession in which it operates.  In collaboration with Professor Das Narayandas in the Marketing Unit and Mr. Partha Bose, author of “Alexander the Great's Art of Strategy: The Timeless Lessons of History's Greatest Empire Builder,” Dr. Eccles is using the insights gained from a number of new cases developed for the MBA elective course on "Leading Professional Service Firms" and the Executive Education program "Building Client Management Capabilities in Professional Service Firms, along with supplementary research, to develop the concept of "building capabilities" as a core principle for ensuring long-term success in a professional services firm. 


    Teaching

  1. Won the 2010 PROSE Award for Professional and Scholarly Excellence in the Business, Finance & Management category for his book with Michael Krzus, One Report: Integrated Reporting for a Sustainable Strategy (John Wiley and Sons, 2010). This award is given by the Professional and Scholarly Publishing Division of the Association of American Publishers.

  2. Selected on January 31, 2011 as one of the Top 100 Thought Leaders in Trustworthy Business Behavior by Trust Across America.

Areas of Interest