Mukti Khaire

Associate Professor of Business Administration

Unit: Entrepreneurial Management

Contact:

(617) 496-4621

Send Email

Mukti Khaire is an Associate Professor at Harvard Business School. She teaches an elective course on entrepreneurship in creative industries that examines the relationship between business and culture.  She has previously taught the required first-year MBA course, “The Entrepreneurial Manager.” She has also taught in the HBS Executive Education programs, including custom executive education offerings, the preMBA, and START. Mukti currently serves as the Faculty Chair of the School's 2+2 initiative.

Mukti received her PhD in Management from Columbia Business School. Her dissertation explored how intangible resources such as legitimacy and status help new ventures grow despite their inherent financial constraints. She studied young ad agencies in New York and Chicago and examined how they overcame financial constraints and the problems associated with founder departure. In addition to quantitative analysis of longitudinal data, she interviewed several ad agency founders to understand how new ventures whose products are direct manifestations of their founders’ talents or abilities cope with expansion and founder departure.

Mukti’s research interests lie at the intersection of entrepreneurship, culture, and creative industries. She has studied how entrepreneurs construct the value of new products, creating new markets and affecting broader cultural institutions in the process. Her work has shed light on how entrepreneurs created a global market for modern Indian art and constructed a distinctive identity for Indian fashion. In other papers, she has examined the interaction among the media and entrepreneurs in the process of market-creation and is currently exploring the process of value-construction in market exchanges.

Mukti's case-writing focuses on entrepreneurship in uncertain or new markets and in the creative or cultural industries, market-creation, and the re-construction of value by entrepreneurs and its impact on society and culture.

Mukti received an award from the Eugene Lang Center for Entrepreneurship at Columbia Business School for her research on entrepreneurship in the advertising industry. Her paper, “Great Oaks from Little Acorns Grow: Strategies for New Venture Growth,” based on her dissertation is included in the Best Paper Proceedings of the 2005 Academy of Management Conference. Her papers have been accepted at various conferences including the American Sociological Association Conference, and the Organization Science Winter Conference. Her paper with Heather Haveman (on founder ideology) was included in “Columbia Ideas at Work” which showcases cutting-edge research at Columbia Business School which has practical applications. Mukti’s research has also been featured twice in the Entrepreneurship section of HBS Working Knowledge. One of these articles was among the top 20 most-read HBS Working Knowledge articles in 2008

Before Columbia University, Mukti got her Masters in Management from the Indian Institute of Technology (IIT), Bombay. For her B.S and M.S. from the University of Pune she received the Sathe Memorial Award and the Joshi Memorial Award for the top-ranked graduate. She worked as an environmental management consultant before IIT and co-founded a non-profit venture for enabling grassroots level biodiversity conservation.

Mukti currently lives in Cambridge. She and her husband Samir Patil are foodies and enjoy independent films and traveling. Most recently they visited Lisbon.

Featured Work

Publications

Journal Articles

  1. Fashioning an Industry: Socio-cognitive Processes in the Construction of Worth of a New Industry

    This study of the high-end fashion industry in India examines the process of construction of the worth of a new industry. Analyses of data from multiple sources revealed that framing by early entrepreneurs and the socio-cognitive processes that resulted from the transactions of field-constituents with the new industry constructed the worth of the industry. These socio-cognitive processes—curation and certification, commentary and critique, and co-presentation, comparison, and commensuration—enabled broader audiences to make sense of the industry and comprehend its worth. The findings form the basis of a general model of the social construction of worth through a process of distributed sanctification, contributing to the growing literature on social construction of value.

    Keywords: fashion and creative industries; Fashion Industry;

    Citation:

    Khaire, Mukti. "Fashioning an Industry: Socio-cognitive Processes in the Construction of Worth of a New Industry." Organization Studies 35, no. 1 (January 2014): 41–74. View Details
  2. Context, Agency, and Identity: The Indian Fashion Industry and Traditional Indian Crafts

    Identity is an important resource for firms, since it is a critical precursor of an important strategic resource-legitimacy. However, identities of new firms in new industries are typically inchoate, since they cannot be classified within pre-existing cognitive categories and therefore do not benefit from a pre-existing understanding or identity of an industry. Given the importance of identity, it is critical that we understand how the identity of a new industry is generated. I attempt to address this gap in our knowledge in this study of the high-end fashion industry in India from its emergence in the mid-1980s to 2005. Although prior studies have attributed the specific identity, structure, and characteristic features of fashion industries in France, Italy, and the UK to the culture of Paris, Milan, and London, respectively, I find that the identity of a new industry is in fact the result of an interaction between contexts and entrepreneurial agency. With the help of oral histories, magazine primary sources, and other databases I show that the Indian fashion industry's specific identity-traditional styles with heavy embellishments, rather than innovative, modern cuts and designs-was not a function only of something inherently and ineffably Indian (as opposed to a modern, Western sensibility), or purely cultural. Rather, it was the result of the actions of early entrepreneurs in the Indian fashion industry, who were making decisions that made them more acceptable to customers given the particular social, cultural, and economic contexts within which they were embedded.

    Keywords: History; Decision Making; Identity; Entrepreneurship; Outcome or Result; Fashion Industry; France; Italy; United Kingdom; India;

    Citation:

    Khaire, Mukti. "Context, Agency, and Identity: The Indian Fashion Industry and Traditional Indian Crafts." Business History Review 85, no. 2 (Summer 2011). View Details
  3. Isolating the Symbolic Implications of Employee Mobility: Price Increases after Hiring Winemakers from Prominent Wineries

    When a skilled employee moves from one organization to another, the effects on the hiring organization can be substantive (i.e., changes in actual outcomes) and symbolic (i.e., changes in expectations or valuations and therefore prices). We theorize that strong or even purely symbolic effects can materialize when former employers are highly prominent because these hires increase the hiring organization's market visibility. Leveraging an idiosyncratic feature of wine markets (i.e., the variable time lag between a wine's production and its release to the market), we isolate an effect of winemaker mobility on wine prices that is not accompanied by a substantive effect on quality. Within-winery analysis of 65 wineries' wines released before and after a hiring event reveal that hiring a winemaker from a more prominent winery negligibly influences wine quality but positively influences wine prices—even for wines that were produced and bottled prior to the new winemaker's arrival. In the absence of substantive justification (i.e., increased quality), the hiring wineries appear to be basking in the reflected glory of their prominent affiliations when setting prices. Implications for research on the substantive and symbolic effects of inter-organizational affiliations are discussed.

    Keywords: Employees; Organizations; Performance Expectations; Price; Competency and Skills; Quality; Management Analysis, Tools, and Techniques; Selection and Staffing; Valuation; Food and Beverage Industry;

    Citation:

    Roberts, Peter W., Mukti Khaire, and Christopher I. Rider. "Isolating the Symbolic Implications of Employee Mobility: Price Increases after Hiring Winemakers from Prominent Wineries." American Economic Review: Papers and Proceedings 101, no. 3 (2011): 147–151. View Details
  4. Changing Landscapes: The Construction of Meaning and Value in a New Market Category Modern Indian Art

    Stable category meanings act as institutions that facilitate market exchange by providing bases for comparison and valuation. Yet little is known about meaning construction in new categories or how meaning translates into valuation criteria. We address this gap in a descriptive study of these processes in an emerging category-modern Indian art. Discourse analysis revealed how market actors shaped the construction of meaning in the new category by reinterpreting historical constructs in ways that enhanced commensurability and enabled aesthetic comparisons and valuation. Analysis of auction transactions revealed greater inter-subjective agreement about valuation over time, as the new category institutionalized.

    Keywords: Change; Valuation; Auctions; Market Transactions; Arts; Agreements and Arrangements; Management Analysis, Tools, and Techniques; India;

    Citation:

    Khaire, Mukti, and R. Daniel Wadhwani. "Changing Landscapes: The Construction of Meaning and Value in a New Market Category Modern Indian Art." Academy of Management Journal 53, no. 6 (December 2010). (Special Issue on Organizations and Their Institutional Environments: Bringing Meaning, Culture, and Values Back In.) View Details
  5. Young and No Money? Never Mind: The Material Impact of Social Resources on New Venture Growth

    Although growth is a desirable outcome for new ventures due to the many advantages of large size, most new firms fail to grow, largely due to their limited resources and adaptability. This paper addresses the question of how new ventures grow despite their limited financial resources. I explore the effect of two specific non-financial, social resources—legitimacy and status—on new venture growth. I propose that new firms can acquire legitimacy by mimicking the structures and ceremonial activities of established firms in their industry, and status by affiliating with high-status entities. Using a unique panel dataset on a cohort of advertising agencies founded in New York and Chicago between 1977 and 1985, I show that legitimacy and status have a favorable impact on the growth of new firms' revenues and number of employees. The paper makes important contributions to social embeddedness and institutional research by examining the strategic impact of firm-level social resources, and to the literature on entrepreneurship in general, and new venture growth in particular.

    Keywords: Business Startups; Entrepreneurship; Growth and Development Strategy; Organizational Change and Adaptation; Status and Position; Advertising Industry; Chicago; New York (city, NY);

    Citation:

    Khaire, Mukti. "Young and No Money? Never Mind: The Material Impact of Social Resources on New Venture Growth." Organization Science 21 (January–February 2010): 168–185. View Details
  6. Getting Known by the Company You Keep: Publicizing the Qualifications and Former Associations of Skilled Employees

    When product quality cannot be ascertained in advance of purchase, producers must convince relevant audiences that they are worthy of consideration as quality players. We propose that quality-oriented producers will selectively publicize information about their skilled employees in anticipation of signaling benefits, which include the accrual of visibility and the projection of quality-based identities. We validate our perspective on publicizing affiliation information by analyzing how a sample of Australian wine producers publicized specific career information about their skilled employees (i.e., their winemakers), including the names of certain former employers of these individuals.

    Keywords: Competency and Skills; Employees; Product; Quality; Food and Beverage Industry; Australia;

    Citation:

    Roberts, Peter, and Mukti Khaire. "Getting Known by the Company You Keep: Publicizing the Qualifications and Former Associations of Skilled Employees." Industrial and Corporate Change 18, no. 1 (February 2009). View Details
  7. Creativity and the Role of the Leader

    In today's innovation-driven economy, understanding how to generate great ideas has become an urgent managerial priority. Suddenly, the spotlight has turned on the academics who've studied creativity for decades. How relevant is their research to the practical challenges leaders face? To connect theory and practice, Harvard Business School professors Amabile and Khaire convened a two-day colloquium of leading creativity scholars and executives from companies such as Google, IDEO, Novartis, Intuit, and E Ink. In this article, the authors present highlights of the research presented and the discussion of its implications. At the event, a new leadership agenda began to take shape, one rooted in the awareness that you can't manage creativity - you can only manage for creativity. A number of themes emerged: The leader's job is not to be the source of ideas but to encourage and champion ideas. Leaders must tap the imagination of employees at all ranks and ask inspiring questions. They also need to help their organizations incorporate diverse perspectives, which spur creative insights, and facilitate creative collaboration by, for instance, harnessing new technologies. The participants shared tactics for enabling discoveries, as well as thoughts on how to bring process to bear on creativity without straitjacketing it. They pointed out that process management isn't appropriate in all stages of creative work; leaders should apply it thoughtfully and manage the handoff from idea generators to commercializers deftly. The discussion also examined the need to clear paths through bureaucracy, weed out weak ideas, and maximize the organization's learning from failure. Though points of view varied, the theories and frameworks explored advance the understanding of creativity in business and offer executives a playbook for increasing innovation.

    Keywords: Leadership; Commercialization; Managerial Roles; Creativity; Innovation and Management; Social and Collaborative Networks; Diversity Characteristics;

    Citation:

    Amabile, Teresa M., and Mukti Khaire. "Creativity and the Role of the Leader." Harvard Business Review 86, no. 10 (October 2008). View Details
  8. Business Methods Patents as Real Options: Value and Disclosure as Drivers of Litigation

    This paper proposes that patents are real options that allow holders of patents the right but not the obligation to sue others. We suggest that the likelihood of a patent's being litigated is positively associated with the value of the patent and the extent of disclosure (prior art cited) in the patent. However, under the conditions of greater value, increases in disclosure reduce the likelihood of litigation of the focal patent. Similarly, under conditions of greater disclosure, increases in value reduce the likelihood of litigation of the focal patent. Rare events logit analyses of business method patents that were litigated compared to patents that were not litigated offer empirical evidence supporting the hypotheses.

    Keywords: Value; Corporate Disclosure; Lawsuits and Litigation; Patents; Rights; Business Processes;

    Citation:

    Nerkar, Atul, Srikanth Paruchuri, and Mukti Khaire. "Business Methods Patents as Real Options: Value and Disclosure as Drivers of Litigation." Advances in Strategic Management 24 (2007): 247–274. View Details
  9. Survival Beyond Succession? The Contingent Impact of Founder Succession on Organizational Failure

    Keywords: Failure; Organizations;

    Citation:

    Haveman, Heather, and Mukti Khaire. "Survival Beyond Succession? The Contingent Impact of Founder Succession on Organizational Failure." Special Issue on the Proceedings of the Conference on Evolutionary Approaches to Entrepreneurship in Honor of Howard Aldrich, University of Maryland, October 3, 2002. Journal of Business Venturing 19 (May 2004): 437–463. View Details

Book Chapters

Cases and Teaching Materials

  1. The Development of the Markets for Natural, Organic, and Health Foods in the U.S.

    Discourses on the links between eating, health, and social standing in America have deep roots. As mechanisms of food production, distribution and storage were developed in the nineteenth century, Americans began receiving information about what to and not-to eat, from public and religious figures, scientists, government officials, and food companies. In an increasingly industrializing and urbanizing society, such information translated into consumer decisions that had both economic and cultural antecedents and consequences. Even before the growth in the market for organic, health, and gourmet foods in the late twentieth and early twenty-first century, food choices were associated with lifestyle.

    Keywords: food marketing; food; Food; Markets; Food and Beverage Industry; United States;

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "The Development of the Markets for Natural, Organic, and Health Foods in the U.S." Harvard Business School Module Note 815-054, September 2014. View Details
  2. The Ullens Center for Contemporary Art

    Since its opening in Beijing in November 2007 as the first non-profit art center in China, UCCA had been operating with the mission to “promote the continued development of the Chinese art scene, foster international exchange, and showcase the latest in art and culture to hundreds of thousands of visitors each year.” For the past six years, UCCA had worked with more than 100 artists and designers to present 87 art exhibitions and 1,826 public programs to over 1.8 million visitors, including many important leaders from all over the world. Given the context of the economic and political environment in the rapidly changing Chinese art market, the founders and senior management of UCCA wondered what they could do to achieve growth and financial viability while continuing to realize their mission.

    Keywords: art world; art gallery; art market; Arts; Nonprofit Organizations; Entrepreneurship; China;

    Citation:

    Khaire, Mukti, and Nancy Hua Dai. "The Ullens Center for Contemporary Art." Harvard Business School Case 815-022, September 2014. View Details
  3. The Structure and Functioning of Art Markets

    The production, valuation, and consumption of contemporary art are guided by cultural and economic forces that play out in primary and secondary markets. Artists seek the attention of art dealers, who, along with auction houses, play a large role in determining what is and is not innovative and important—and therefore valuable—in the market. Museums, collectors, and critics also play a significant role in affecting public perception and valuation of works of art, while ancillary service providers such as advisors, insurers, and private wealth management and financial services firms support the workings of the market.

    Keywords: art dealer; art market; Arts; New York (city, NY);

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "The Structure and Functioning of Art Markets." Harvard Business School Background Note 815-042, August 2014. View Details
  4. The Structure and Functioning of the Fashion Industry

    Fashion is the quintessential social-consumption good; all consumers comply with or react to fashion. Although very few consumers actually control trends, virtually every consumer is affected by fashion and contributes to it by adopting or rejecting popular styles. A number of market players are involved in the process of fashion creation and consumer engagement. The objective of this note is to describe the process by which clothing becomes fashion and illustrate the roles and functions of the relevant actors in the process. This note provides background information for "Moda Operandi: A New Style of Fashion Retail", HBP# 812-040.

    Keywords: fashion and creative industries; fashion; retail; Fashion Industry; Fashion Industry;

    Citation:

    Khaire, Mukti, and Hannah Catzen. "The Structure and Functioning of the Fashion Industry." Harvard Business School Background Note 815-028, July 2014. View Details
  5. Noma: A Lot on the Plate

    In 2014, the restaurant Noma, based in Copenhagen, Denmark, was considered to be amongst the best restaurants in the world, and its co-founder, co-owner and chef, René Redzepi, among the most influential chefs. The restaurant was also leading the new Nordic food movement, a movement focused on rediscovering Nordic cuisine and ingredients, which had helped increase the popularity of Danish cuisine. Since 2013 Noma had a new investor, the American Marc Blazer, who joined to help Redzepi increase the restaurant's margins to make it a more sustainable business. But the question was—how? What options really were available?

    Keywords: restaurant industry; Food; Entrepreneurship; Food and Beverage Industry; Europe;

    Citation:

    Khaire, Mukti, and Elena Corsi. "Noma: A Lot on the Plate." Harvard Business School Case 814-097, March 2014. (Revised June 2014.) View Details
  6. Milk Baths and Charm Necklaces: Had Randy Weiner (Finally) Gone Too Far?

    The case on Randy Weiner explores the tensions between artistic and financial imperatives in a for-profit immersive theater venture. In order to revive the dormant Manhattan nightclub "The Diamond Horseshoe," theater-impresario Randy Weiner created "The Queen of the Night," a hybrid performance that combines food, opera, circus arts, and dance. While "The Queen of the Night" is the latest in a string of productions categorized as "immersive theater," a category Weiner is credited with inventing, it is also more expensive and more artistically risky than anything he has ever done before. Has Weiner finally gone too far, or will he be able to pull this off? This case explores the creation of a market for immersive theater, as well as structures Weiner has created to fund, manage, and create his productions. Additionally, this case examines the psyche of Weiner, a successful artist-entrepreneur, and investigates the role of risk, controversy, and the line between avant-garde and controversial art in creating works that are both financially profitable and artistically impactful.

    Keywords: entertainment; entrepreneurship; Theater Entertainment; New York (city, NY);

    Citation:

    Khaire, Mukti, and Hannah Catzen. "Milk Baths and Charm Necklaces: Had Randy Weiner (Finally) Gone Too Far?" Harvard Business School Case 814-079, March 2014. View Details
  7. The Michelin Restaurant Guide: Charting a New Course

    Created in 1900 by the tire manufacturer Michelin, the Michelin Restaurant Guide was widely considered the international benchmark of food rating, and, by 2013, boasted paper editions in 23 countries, and had recently expanded to the United States and Asia. Paper sales however had dropped, following the emergence of free, online guides, global players, and more broadly, the wider diffusion of the Internet. In 2012, the Guide had launched a new range of services targeting restaurateurs. The Director of the Guide was contemplating developing the Guide even more internationally and on digital formats, but also knew he needed to limit costs.

    Keywords: restaurant; food; Corporate Entrepreneurship; Business Model; Food; Brands and Branding; Media; Culture; Expansion; Corporate Strategy; Value Creation; Food and Beverage Industry; Tourism Industry; Media and Broadcasting Industry; Publishing Industry; Transportation Industry; Travel Industry; Europe; United States; Japan; China;

    Citation:

    Khaire, Mukti, Elena Corsi, and Jerome Lenhardt. "The Michelin Restaurant Guide: Charting a New Course." Harvard Business School Case 814-088, February 2014. (Revised August 2014.) View Details
  8. Ministry of Supply: Will Professionals Demand Its Performance?

    Ministry of Supply is an entrepreneurial venture in the apparel sector. The firm focuses on a specific segment—'performance professional wear'—within the sector, specializing in clothes that use fabrics with high-tech performance features (such as moisture-wicking, deodorizing, and temperature control) to make professional attire (button-down shirts, dress pants, etc.) for men. The firm has had success in fund-raising and its innovative product has garnered it good publicity, but the unusual combination of seemingly contradictory features—performance fabrics commonly used in outdoor leisure activities and a professional look and design—in the product has also generated cognitive challenges among consumers. How, if at all, can the firm increase the sales of its products?

    Keywords: fashion and creative industries; entrepreneurship; Entrepreneurship; Fashion Industry;

    Citation:

    Khaire, Mukti, and Hannah Catzen. "Ministry of Supply: Will Professionals Demand Its Performance?" Harvard Business School Case 814-042, November 2013. View Details
  9. The Pritzker Architecture Prize: Building Value (B)

    The case provides a history of the architectural profession and the Pritzker Prize and also describes the role of prizes in validating innovations and making them acceptable and valuable in creative industries. By providing their imprimatur, coveted Prizes with good reputations can especially influence the careers of entrepreneurs and new members of creative professions. The case describes the elements that constitute a reputed prize that can change the course of a field. It also asks the question of whether the prize itself may become an objective, rather than innovation, and spurs a discussion about innovation in creative fields. The B case presents the perspective of architects and architecture critics and members of the Pritzker jury and further elucidates the value of such prizes for entrepreneurs and innovators.

    Keywords: architecture; innovation; valuation; History; Valuation; United States;

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "The Pritzker Architecture Prize: Building Value (B)." Harvard Business School Supplement 813-131, February 2013. View Details
  10. The Pritzker Architecture Prize: Building Value (A)

    The case provides a history of the architectural profession and the Pritzker Prize and also describes the role of prizes in validating innovations and making them acceptable and valuable in creative industries. By providing their imprimatur, coveted Prizes with good reputations can especially influence the careers of entrepreneurs and new members of creative professions. The case describes the elements that constitute a reputed prize that can change the course of a field. It also asks the question of whether the prize itself may become an objective, rather than innovation, and spurs a discussion about innovation in creative fields. The B case presents the perspective of architects and architecture critics and members of the Pritzker jury and further elucidates the value of such prizes for entrepreneurs and innovators.

    Keywords: architecture; value drivers; innovation; History; United States;

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "The Pritzker Architecture Prize: Building Value (A)." Harvard Business School Case 813-124, February 2013. View Details
  11. The Atavist: Reinventing the Book

    Atavist, a start-up founded by journalists, publishes enhanced ebook singles as well as the software to create enhanced ebooks. The company is currently engaged in both publishing and software development, but as they raise funding and grow, must decide whether to focus on one or the other.

    Keywords: entrepreneurship; disruptive technology; growth strategy; innovation; publishing; software industry; technological change; Publishing Industry;

    Citation:

    Khaire, Mukti, and Mary Tripsas. "The Atavist: Reinventing the Book." Harvard Business School Case 812-177, June 2012. View Details
  12. Moda Operandi: A New Style of Fashion Retail

    Moda Operandi is a startup in the fashion industry. The firm organizes online trunk shows of designers' collections, allowing its members to directly order clothes from the collections shown in Fashion Weeks all over the world. Moda Operandi conveys the preorders to the designers and the members receive their clothes six months later. The founders of Moda Operandi - Aslaug Magnusdottir and Lauren Santo Domingo - believe that the firm has the potential to address and eliminate inefficiencies in the fashion industry. While the founders plan to include editorial content on the site, the question is - can Moda Operandi succeed despite removing an essential piece of the fashion industry?

    Keywords: Business Startups; Entrepreneurship; Order Taking and Fulfillment; Distribution Channels; Internet; Design; Fashion Industry; Retail Industry;

    Citation:

    Khaire, Mukti. "Moda Operandi: A New Style of Fashion Retail." Harvard Business School Case 812-040, October 2011. (Revised May 2012.) View Details
  13. The Kid Grows Up: Decisions at the Sundance Institute

    The Sundance case raises the question of how markets for innovative cultural products can be created and what the role of intermediaries in creative industries ought to be. The case describes the history of the Sundance Institute, which was founded by actor/director Robert Redford to promote independent filmmaking. Started as a "Lab," where independent filmmakers could work on their film projects, the Institute soon expanded to organize the Sundance Film Festival in order to facilitate the exhibition and distribution of independent films, including those not supported by the Sundance Labs. Thirty years after Sundance was founded, its top management team wonders whether the mission of Sundance would be best served by increasing and improving the supply of independent films in the market, or by educating consumers to create an audience for independent cinema.

    Keywords: entertainment; entrepreneurship; Decision Making; Film Entertainment; Motion Pictures and Video Industry; United States;

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "The Kid Grows Up: Decisions at the Sundance Institute." Harvard Business School Case 812-051, December 2011. (Revised September 2012.) View Details
  14. Cahiers du Cinéma and The French Film Industry

    The French film magazine Cahiers du Cinéma contributed to strengthening the characterization of film as art in France. The note provides background information on the magazine's history, on the French film industry, and on French film magazines.

    Keywords: Film Entertainment; Journals and Magazines; Motion Pictures and Video Industry; Publishing Industry; France;

    Citation:

    Khaire, Mukti, Elena Corsi, and Emilie Billaud. "Cahiers du Cinéma and The French Film Industry." Harvard Business School Background Note 812-125, January 2012. (Revised March 2012.) View Details
  15. Music and the (Real) World: Thirty Years of MTV

    The case is useful for teaching students the structure of creative industries - especially fashion - and the issues to consider when attempting disruptive innovation and entrepreneurship in these industries.

    Keywords: Industry Structures; Entrepreneurship; Disruptive Innovation; Internet; Networks;

    Citation:

    Khaire, Mukti, and Eleanor Kenyon. "Music and the (Real) World: Thirty Years of MTV." Harvard Business School Case 812-041, October 2011. (Revised March 2012.) View Details
  16. WildChina: Taking the Road Less Traveled

    This case deals with supplier difficulties faced by WildChina—a travel service provider in China. WildChina is a classic case of a company that is trying to bring a local, within-country product to a market outside the country (in this case, travelers to China from around the world). In doing so, start-ups have to build competences to deal with local suppliers and global customers. The case describes the operations of WildChina providing detailed information on how they evaluated suppliers to determine their appropriateness, given WildChina's customers. The decision in the case revolves around what the founder should do when faced with a supplier who is trying to bypass WildChina to reach customers directly—a common problem faced by intermediaries.

    Keywords: Business Model; Business Startups; Customer Focus and Relationships; Local Range; Globalized Markets and Industries; Supply Chain Management; Conflict Management; Travel Industry; China;

    Citation:

    Khaire, Mukti, Daniel Isenberg, Victoria Song, and Shirley Spence. "WildChina: Taking the Road Less Traveled." Harvard Business School Case 811-019, September 2010. (Revised December 2011.) View Details
  17. Coco Chanel: Creating Fashion for the Modern Woman (A)

    Chanel, the iconic haute couture house, founded by Gabrielle "Coco" Chanel in 1913, came to embody its founder's philosophy, taste, and style and set a distinctive and influential tone for women's fashion. Coming to prominence during the height of cultural modernity in the 1920s and 1930s, Chanel's designs wrapped high and low cultural references into beautiful yet practical clothing and jewelry for women of Europe and the Americas. In their articulation of clean, classic lines, her designs set a standard for women's fashion and clothing, relevant from 1910 through to the 1960s. She created several iconic but understated staples of many women's wardrobes, such as her signature cardigan and suit, the quilted handbag with a chain-link strap, which left its wearer's hands free, and "the little black dress," all of which continue to be part of women's wardrobes today in some shape and form. Chanel died in 1971 leaving the future of the brand and its leadership uncertain.

    Keywords: fashion and creative industries; apparel manufacturing; Apparel and Accessories Industry; Fashion Industry; France;

    Citation:

    Khaire, Mukti, and Kerry Herman. "Coco Chanel: Creating Fashion for the Modern Woman (A)." Harvard Business School Case 812-001, November 2011. (Revised June 2014.) View Details
  18. Paddle8: Painting a New Picture of the Art Market

    The Paddle8 case is a short case that presents the idea for a new business in the global art market and asks students to evaluate whether it will work, given the structure and unique workings of the art market. Paddle8 is a New York-based startup that partners with well-known galleries to offer art works from their collections for sale on the Paddle8 website to carefully selected, globally-dispersed members. The firm aims to help galleries overcome their geographic limitations and to make art more accessible to a wide range of new collectors with the help of its technology platform. The question is: will this succeed in the context of the art market where exclusive access is a prime driver of value?

    Keywords: Arts; Business Plan; Business Startups; Corporate Entrepreneurship; Online Technology; Trade; Fine Arts Industry; New York (city, NY);

    Citation:

    Khaire, Mukti. "Paddle8: Painting a New Picture of the Art Market." Harvard Business School Case 812-047, October 2011. View Details
  19. SEWA Trade Facilitation Center: Changing the Spool

    The case is about the decision to convert a not-for-profit organization into a for-profit company. SEWA Trade Facilitation Center (STFC), which is part of a larger non-profit organization—the Self-Employed Women's Association (SEWA)—works to improve the livelihoods of very poor rural and urban women in India. It does so by translating traditional Indian embroidery skills into contemporary apparel and home furnishings that STFC then helps to market and sell around the world. Organized as a producers' cooperative, STFC is owned by its artisan members. STFC is thinking of changing to for-profit status because it would enable faster and more sustainable growth by providing access to outside funds and also allow the payment of dividends, which would further improve the women's livelihoods. The legal and financial implications of such a move aside, it is not clear that STFC would be able to withstand the changes such a transformation would entail. Most importantly, would an organization accustomed to taking decisions based solely on social benefit criteria be able to adjust to a for-profit mentality? And, would customers accept the change?

    Keywords: Cooperative Ownership; For-Profit Firms; Gender Characteristics; Business Model; Organizational Change and Adaptation; Nonprofit Organizations; Arts; Entrepreneurship; Economic Growth; Growth and Development Strategy; Consumer Products Industry; India;

    Citation:

    Khaire, Mukti, and Kathleen L. McGinn. "SEWA Trade Facilitation Center: Changing the Spool." Harvard Business School Case 810-044, February 2010. (Revised June 2011.) View Details
  20. Zotter – Living by Chocolate

    This case is about a boutique chocolate manufacturer's decision to grow. Zotter, an Austrian company that was a pioneer in the organic and Fairtrade chocolate movement, uses the traditional confit technique to make premium hand-scooped chocolates in unusual and innovative flavor combinations. Having done many novel things to educate the market about the value of premium, organic and Fairtrade chocolate, Zotter consolidated its market position within the premium segment of the Austrian market for chocolate. The company only recently started to sell its product outside Austria. However, the time- and labor-intensive manufacturing process and the high prices of Zotter chocolates limit the scalability of the company, even though the founder desires to grow. While the founder has many ideas for the firm, it is not clear which path would be optimal for the kind of growth he desires. The case provides students an opportunity to discuss how entrepreneurs create markets for novel products, and how they can consolidate their position.

    Keywords: Market Entry and Exit; Entrepreneurship; Global Strategy; Innovation and Invention; Growth and Development Strategy; Manufacturing Industry; Food and Beverage Industry; Austria;

    Citation:

    Khaire, Mukti, Stefan Aichinger, Monika Maria Elisabeth Hoffmann, and Maximilian Georg Manfred Schnoedl. "Zotter – Living by Chocolate." Harvard Business School Case 810-091, February 2010. (Revised June 2011.) View Details
  21. Mirae Asset: Korea's Mutual Fund Pioneer

    Park Hyeon-Joo, the founder and chairman of Korea's earliest and largest mutual fund company, plans to expand internationally. After first offering emerging market funds to its Korean customers, the company then began selling local-currency funds in India and Brazil. Now Hyeon-Joo has to decide his next steps. Should he build on his emerging market expertise and focus his business expansion in developing countries? If so, where should he concentrate his efforts—India, Brazil, China, or other countries? Or should he instead focus on expanding into developed markets through operations in New York and London?

    Keywords: Developing Countries and Economies; Entrepreneurship; Investment; Global Strategy; Emerging Markets; Financial Services Industry; South Korea;

    Citation:

    Khaire, Mukti, Michael Shih-ta Chen, and G.A. Donovan. "Mirae Asset: Korea's Mutual Fund Pioneer." Harvard Business School Case 810-123, March 2010. (Revised June 2011.) View Details
  22. Globant

    The case deals with an IT company born in Argentina in 2003 to provide software services to established companies in the developed world. After reaching sales of $57 million in 2010, the company ponders its next steps to achieve $500 million in revenues by 2015.

    Keywords: Talent and Talent Management; Entrepreneurship; Global Strategy; Growth and Development Strategy; Service Delivery; Software; Information Technology Industry; Argentina;

    Citation:

    Khaire, Mukti, Gustavo A. Herrero, and Cintra Scott. "Globant." Harvard Business School Case 811-059, March 2011. View Details
  23. ABICI

    The co-founder of an Italian, design based bicycle manufacturer evaluates if reducing costs by outsourcing would impact its brand. The company was founded in 2005 in Italy by three friends and in its first five years, it had enjoyed steady growth and built a strong reputation for producing high-quality city bicycles, appreciated for their retro-look and style. Its country of origin had probably helped them exporting their products as their bicycles were 100% made in Italy and the Made in Italy label had a reputation of high quality, craftsmanship and creativity. Yet their profit margins were relatively low as their manufacturing costs were very high. Should they outsource their production? If so, to China or to Eastern Europe? Was there some other way to improve the profitability of the company?

    Keywords: Trade; Entrepreneurship; Profit; Job Cuts and Outsourcing; Brands and Branding; Product Design; Product Development; Production; Bicycle Industry; Manufacturing Industry; Italy;

    Citation:

    Khaire, Mukti, Elena Corsi, and Elisa Farri. "ABICI." Harvard Business School Case 811-085, February 2011. View Details
  24. GLOBIS

    Yoshito Hori, dean of the Graduate School of Management, GLOBIS University, was planning to launch a full-time English MBA program in September 2012. GLOBIS University was already offering successful part-time MBA programs in English and Japanese. The full-time English program was a necessary step to fulfill Hori's ambition to make GLOBIS the No. 1 business school in Asia, however it remained to be seen whether the school could attract international students who needed to relocate to Japan and compete with other world-class international business schools.

    Keywords: Business Model; Business Education; Entrepreneurship; Leadership; Adaptation; Expansion; Education Industry; Japan;

    Citation:

    Khaire, Mukti, Akiko Kanno, and Nobuo Sato. "GLOBIS." Harvard Business School Case 811-061, January 2011. (Revised February 2011.) View Details
  25. Saffronart.com: Bidding for Success

    Saffronart, a five-year-old online art auction company, leads the market for modern Indian art and now faces competitors in the market it created. Established in 2000 by the wife-and-husband team of Minal and Dinesh Vazirani, Saffronart.com is an innovative online auction firm that specializes in modern and contemporary Indian art. Having been the first firm to offer Indian fine art with authenticity guarantees in an auction setting that increased the transparency of prices, Saffronart succeeded in establishing the genre of modern and contemporary Indian art in the art world, and in creating a market for it. This market, and Saffronart's revenues, grew rapidly from 2000 to 2005. Saffronart's estimate was that the Indian art auction market would be worth $125 million in 2006, with their revenues being $45 million. While this success was gratifying, the firm and its founders faced new internal and external pressures; particularly worrisome was the entry of auction giants Christie's and Sotheby's into the market. The Vaziranis' main challenge now is to consolidate their leading position in the market they created in the face of the unpredictable cyclicality of the secondary art market and increasingly strong competitors.

    Keywords: Arts; Business Startups; Entrepreneurship; Auctions; Industry Growth; Competition; Online Technology; Fine Arts Industry; India;

    Citation:

    Khaire, Mukti, and R. Daniel Wadhwani. "Saffronart.com: Bidding for Success." Harvard Business School Case 808-027, July 2007. (Revised February 2010.) View Details
  26. Fabindia Overseas Pvt. Ltd.

    Fabindia is a for-profit Indian retail company with the stated mission of providing employment to weavers and traditional handicraft artisans in rural India. Established in 1960 as an exporter of home furnishings, Fabindia has grown as a consumer-facing retailer of apparel, home furnishings, organic food, and body care products, and has plans to expand further. Given their mission, their supply chain is fragmented, geographically scattered, and unpredictable. Can they overcome these challenges and still grow profitably while staying committed to their mission?

    Keywords: Business Model; For-Profit Firms; Growth and Development Strategy; Supply Chain; Mission and Purpose; Expansion; Retail Industry; India;

    Citation:

    Khaire, Mukti, and Prabakar (PK) Kothandaraman. "Fabindia Overseas Pvt. Ltd." Harvard Business School Case 807-113, March 2007. (Revised February 2010.) View Details
  27. SEWA Trade Facilitation Center: Changing the Spool (TN)

    Teaching Note for [810044].

    Keywords: Nonprofit Organizations; Welfare or Wellbeing; Sales; Financing and Loans; Transformation; Decision Making; For-Profit Firms; Poverty; Rural Scope; Urban Scope; Cooperative Ownership; Customers;

    Citation:

    Khaire, Mukti. "SEWA Trade Facilitation Center: Changing the Spool (TN)." Harvard Business School Teaching Note 810-100, February 2010. View Details
  28. Jack Strang at SequenceLabs

    How can entrepreneur manage his firm if things go wrong despite having a great idea, a solid team, and financial backing? Jack Strang founded a biotech firm with his friend Peter Evans, to develop molecular pathway-based "cures" for metabolic disorders. The idea was revolutionary and had both scientific validity and commercial applicability. No wonder, then, he was the darling of the venture capital industry when he approached them for funding, and he easily got first round financing. He and Evans had also assembled a strong team with impeccable credentials. Nothing, it seemed, could go wrong. Yet, close to second-round financing, nothing seemed to be right, and Strang could not help but worry. The product development was behind schedule, and his team was demoralized and tired. The future seemed uncertain. What had gone wrong? Was there anything that could be done?

    Keywords: Corporate Entrepreneurship; Business or Company Management; Venture Capital; Factories, Labs, and Plants; Business Growth and Maturation; Failure; Biotechnology Industry;

    Citation:

    Khaire, Mukti, John J. Gabarro, and Lynda M. Applegate. "Jack Strang at SequenceLabs." Harvard Business School Case 806-088, January 2006. View Details

Presentations

Other Publications and Materials

  1. Medium and Message: The Role of the Media in Establishing Institutional Logics

    Research on industry institutional logics has provided insights into the factors that influence organizational behavior and actions. However, we still lack a detailed understanding of how industry logics emerge from societal-level values, get disseminated, and become available to organizations. Content analysis of 586 articles on fashion published in India's leading women's magazine reveals that the media play a large role in these processes by providing the venue for the translation of societal values into industry logics and disseminating these logics among fashion firms, and sheds light on the emergence of a competing logic that promoted entrepreneurship and organizational variation.

    Keywords: Entrepreneurship; Values and Beliefs; Governing Rules, Regulations, and Reforms; Media; Organizations; Behavior; Societal Protocols; Fashion Industry; India;

    Citation:

    Khaire, Mukti, and Erika Richardson. "Medium and Message: The Role of the Media in Establishing Institutional Logics." 2011. View Details
  2. Height Taken but Worth Unknown: Valuation as an Institutional Process

    Drawing on research from organizational studies, sociology, history, and anthropology, we develop a framework for understanding valuation as an institutional process in markets. We posit that three institutional elements—categories, criteria, and standards—are integral to the interpretive process of value construction that is in turn shaped by recursive interactions among actors, texts, and the social, cultural, and historical contexts that constitute markets. We also examine the conditions under which such institutions are subject to change by entrepreneurs. The paper contributes to institutional and organizational literature by theorizing how institutions shape perceptions of value and providing a framework for understanding variations in the organization of value in different markets.

    Keywords: Interactive Communication; Markets; Standards; Situation or Environment; Perception; Valuation;

    Citation:

    Wadhwani, R. Daniel, and Mukti Khaire. "Height Taken but Worth Unknown: Valuation as an Institutional Process." 2011. View Details
  3. Fashioning an Industry: Cognitive Processes and the Construction of WorthIn the Institutionalization of a New Industry

    This inductive study of the high-end fashion industry in India explores how the worth of a new industry is constructed. Interviews with entrepreneurs and constituents of the field revealed that the worth of the industry was constructed through framing by early entrepreneurs and the actions of field-constituents as they interacted and transacted with the new industry. Field-constituents engaged in cognitive processes—curation and certification, commentary and critique, and co-presentation, comparison and commensuration—which enabled broader audiences to make sense of the industry and comprehend its value. This helped establish the cognitive legitimacy of the new industry, thus institutionalizing it.

    Keywords: Market Design; Framework; Entrepreneurship; Value; Cognition and Thinking; Industry Structures; Fashion Industry; India;

    Citation:

    Khaire, Mukti. "Fashioning an Industry: Cognitive Processes and the Construction of WorthIn the Institutionalization of a New Industry." October 2010. View Details

    Research Summary

  1. Pioneer- Entrepreneurship and Industry Emergence

    This set of projects studies entrepreneurship in a creative industry-i.e. high-end fashion in India-with the main aim of understanding industry emergence and the role of pioneer-entrepreneurs.

    Fashioning an Industry: How Entrepreneurs and Others Shaped the Emergence Shape the Emergence and Evolution of an Industry.

    Mukti is studying the evolution of the nascent fashion industry in India. This project provides insights into how entrepreneurs individually and collectively deal with the multiple levels of uncertainty inherent in being entrepreneurs in a new industry, and how the ecosystem of the industry contributes to uncertainty-alleviation. It also shows how industries evolve by borrowing institutional norms from other contexts, and adapting them to suit their specific needs.

    Medium and Message: The Role of the Media in Establishing Institutional Logics

     This working paper involves a massive effort to collect magazine articles on Indian fashion published in leading Indian magazines for the last 20 years in order to understand how the identity of an industry is iteratively understood and constructed.

  2. Entrepreneurship, Value-construction, and Market-creation

    Changing Landscapes: Creating a Market for Modern Indian Art

    In this project on the creation and consolidation of a market for modern and contemporary Indian art, Mukti and her co-author Daniel Wadhwani study the role of entrepreneurs and incumbent firms in constructing a market for products with subjective attributes and intangible value.

    Height Taken but Worth Unknown: Valuation as an Institutional Process

    This theoretical conceptualization of the process by which value is constructed provides a new perspective for understanding entrepreneurship as a process of reinterpretation of value in market contexts, which in turn influences culture.

  3. New Venture Growth

    Young and no Money? Never Mind: Strategies for New Venture Growth. Being revised (R&R) for Organization Science.

    Mukti's dissertation, "Great Oaks from Little Acorns Grow: Strategies for New Venture Growth," explored how intangible resources such as legitimacy and status help new ventures grow despite their inherent financial constraints. In this paper she studied how young ad agencies in New York and Chicago acquired legitimacy by imitating existing large firms, and acquired status from high-status clients. These intangible resources helped the agencies grow despite their limited financial resources.

  4. Intangible Resources

    Getting Known by the Company you Keep: Publicizing the Qualifications and Associations of Skilled Employees to Indicate Producer Quality (with Peter Roberts) Under second review at Industrial and Corporate Change.

    In a second paper with Peter Roberts (Emory University), and Chris Rider (U. Cal, Berkeley), Mukti surveys winemakers in California to examine the interaction between winemaker careers, their resultant reputation, and winery reputations.

      19 May 2013
      Boston Herald
      10 May 2013
      Harvard Gazette
      07 Sep 2010
      New York Times
      18 Jun 2012
      New York Times
      07 Dec 2012
      Harvard Crimson