Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School, where he has studied and worked with multinational and indigenous companies and investors in emerging markets worldwide. He was named Harvard University's Director of the South Asia Institute in the fall of 2010. He joined the HBS faculty in 1993, after obtaining an engineering degree from Princeton University (1988) and a Ph.D. from Harvard (1993), and an interim stint on Wall Street. During this time, he has served as the head of several courses on strategy, corporate governance, and international business targeted to MBA students and senior executives at Harvard. He currently teaches in Harvard’s College's General Education core curriculum in a university wide elective course on entrepreneurship in South Asia. He is also the Faculty Chair for HBS activities in India. His book, Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours, was published in February 2008 by Harvard Business Press (Penguin in South Asia), and has been translated into several languages. It focuses on the drivers of entrepreneurship in China and India and builds on over a decade of work with companies, investors and non-profits in developing countries worldwide. His most recent co-authored book, Winning in Emerging Markets: A Roadmap for Strategy and Execution, was published by Harvard Business Press in March 2010. His scholarly work has been published in a range of economics and management journals, several of which he also serves in an editorial capacity. Articles in the Harvard Business Review (e.g. China + India: The Power of Two, 2007; Emerging Giants: Building World Class Companies in Emerging Markets, 2006) and Foreign Policy (e.g. Can India Overtake China?, 2003) distil the implications of this research for practicing managers. His work is frequently featured in global newsmagazines as well as on TV and radio. Outside HBS, he serves on the boards of the global power company, AES Corporation, and India's largest microfinance firm, SKS Microfinance, along with several others in the financial services, energy, automotive, and life sciences sectors, and actively invests in and mentors startups in Asia. He also serves on the advisory boards of Parliamentary Research Services, an NGO dedicated to providing non-partisan research input to India's Members of Parliament to enhance the quality of democratic discourse and that of Primary Source, a Boston-based NGO dedicated to helping US schools, from K-12 grades, adopt curricular material reflecting global societies. In 2007, he was nominated to be a Young Global Leader (under 40) by the World Economic Forum. In 2009, he was elected a Fellow of the Academy of International Business. He lives in Newton, MA, with his wife, daughter and son.
Featured Work
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Winning in Emerging Markets: A Roadmap for Strategy and Execution
by Tarun Khanna and Krishna G. Palepu, with Richard Bullock, published by Harvard Business Press in April 2010
 
Most books thus far on emerging markets are either investing-oriented, or country - or market-specific, or descriptive. No book has definitively targeted the corporate strategists who need a practical framework and assessment tools for analyzing emerging markets, identifying new business opportunities, and planning strategy and execution. This book does just that. Rather than defining emerging markets by particular size or growth qualifications, Palepu and Khanna argue that the primary exploitable characteristic of these markets is their lack of developed infrastructures and institutions that might enable efficient business operations. Credit card systems, intellectual property adjudication, and data research firms are all market intermediaries taken for granted in advanced economies, for example, and operating without them poses specific challenges - as well as major opportunities. Building upon of the authors' series of popular HBR articles on the topic, the book gives managers a systematic framework for assessing the institutional context of any emerging market so that they can spot institutional voids, position themselves in the market, and finally build execution strategies that factor in an informed prognosis of that market's future. Translation available in Chinese.
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Billions of Entrepreneurs: How China and India Are Reshaping Their Futures and Yours
By Tarun Khanna, published by HBS Press in January 2008, (Penguin Books in India and South Asia)
Read an excerpt here. Translations available in Arabic, Brazilian Portuguese, Indonesian, Korean, Portuguese, Turkish, Vietnamese.      
Western concerns about the rise of China and India are raising alarms today, much as they were fifty years ago. China and India currently operate in the global economy as mirror images of each other—one favors multinationals over indigenous private companies, the other advantages its locals and shuns foreigners. In a book published by Harvard Business School Publishing, HBS Professor Tarun Khanna explores the likely evolution of the Chinese and Indian models and the implications for the world in four settings—China and the world, India and the world, Chinese and Indian mutual relations, and the view from the developed world. And just as hysteria and protectionism proved unwarranted half a century ago, Khanna argues that the rise of China and India is again an opportunity for profit and hope.
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Business Groups in Emerging Markets: Paragons or Parasites?
by Tarun Khanna and Yishay Yafeh, Journal of Economic Literature, June 2007
 Diversified business groups, consisting of legally independent firms operating across diverse industries, are ubiquitous in emerging markets. Groups around the world share certain attributes but also vary substantially in structure, ownership, and other dimensions. This paper proposes a business group taxonomy, which is used to formulate hypotheses and present evidence about the reasons for the formation, prevalence, and evolution of groups in different environments. In interpreting the evidence, the authors pay particular attention to two aspects neglected in much of the literature: the circumstances under which groups emerge and the historical evidence on some of the questions addressed by recent studies. They argue that business groups are responses to different economic conditions and that, from a welfare standpoint, they can sometimes be "paragons" and, at other times, "parasites." The authors conclude with an agenda for future research.
Online article requires registration
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Can India Overtake China?
By Tarun Khanna and Yasheng Huang, Foreign Policy, July - August 2003
 What’s the fastest route to economic development? Welcome foreign direct investment (FDI), says China, and most policy experts agree. But a comparison with long-time laggard India suggests that FDI is not the only path to prosperity. Indeed, India’s homegrown entrepreneurs may give it a long-term advantage over a China hamstrung by inefficient banks and capital markets. download the PDF Online publication requires registration
Publications
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Book
| 2010
Winning in Emerging Markets: A Road Map for Strategy and Execution
Tarun Khanna, Krishna G. Palepu and Richard Bullock
The best way to select emerging markets to exploit is to evaluate their size or growth potential, right? Not according to Krishna Palepu and Tarun Khanna. In 'Winning in Emerging Markets,' these leading scholars on the subject present a decidedly different framework for making this crucial choice. The authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such "institutional voids" present challenges, they also provide major opportunities for multinationals and local contenders. Palepu and Khanna provide a playbook for assessing emerging markets' potential and for crafting strategies for succeeding in those markets. They explain how to spot institutional voids in developing economies, including in product, labor, and capital markets, as well as social and political systems; identify opportunities to fill those voids, for example, by building or improving market institutions yourself; and exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilities. Packed with vivid examples and practical toolkits, 'Winning in Emerging Markets' is a crucial resource for any company seeking to define and execute business strategy in developing economies.
Keywords: Developing Countries and Economies;
Management Analysis, Tools, and Techniques;
Emerging Markets;
Organizations;
Opportunities;
Business Strategy;
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Book
| 2008
Billions of Entrepreneurs: How China and India Are Reshaping Their Futures and Yours
Tarun Khanna
China and India are home to one-third of the world's population. And they're undergoing social and economic revolutions that are capturing the best minds--and money--of Western business. In "Billions of Entrepreneurs," Tarun Khanna examines the entrepreneurial forces driving China's and India's trajectories of development. He shows where these trajectories overlap and complement one another--and where they diverge and compete. He also reveals how Western companies can participate in this development. Through intriguing comparisons, the author probes important differences between China and India in areas such as information and transparency, the roles of capital markets and talent, public and private property rights, social constraints on market forces, attitudes toward expatriates abroad and foreigners at home, entrepreneurial and corporate opportunities, and the importance of urban and rural communities. He explains how these differences will influence China's and India's future development, what the two countries can learn from each other, and how they will ultimately reshape business, politics, and society in the world around them. Engaging and incisive, this book is a critical resource for anyone working in China or India or planning to do business in these two countries.
Keywords: Talent and Talent Management;
Development Economics;
Entrepreneurship;
Globalized Economies and Regions;
China;
India;
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Article
| Economic & Political Weekly
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Caste and Entrepreneurship in India
Lakshmi Iyer, Tarun Khanna and Ashutosh Varshney
It is now widely accepted that the lower castes have risen in Indian politics. Has there been a corresponding change in the economy? Using comprehensive data on enterprise ownership from the Economic Censuses of 1990, 1998, and 2005, we document substantial caste differences in entrepreneurship across India. The Scheduled Castes and Scheduled Tribes are significantly under-represented in the ownership of enterprises and the share of the workforce employed by them. These differences are widespread across all states, have decreased very modestly between 1990 and 2005, and cannot be attributed to broad differences in access to physical or human capital.
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Article
| Global Strategy Journal
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A 'Core Periphery' Framework to Navigate Emerging Market Governments—Qualitative Evidence from a Biotechnology Multinational
Prithwiraj Choudhury, James Geraghty and Tarun Khanna
We build on the emerging literature of influence-based models to study how multinational firms can navigate host governments. Our "core-periphery" framework posits that the actions that an MNC takes with actors in what we call the "periphery"—comprised of state, quasi-state, and civil society actors—can lead to positive or negative influence with interconnected state actors in a "core." There are two mechanisms by which this can happen: engaging the periphery may either change the information set of the core or help align incentives of multiple core actors. Engaging the periphery might be particularly relevant in settings where the institutional framework is still emerging. We build a case study of a multinational firm in the biotechnology sector to illustrate how the core-periphery framework works in multiple emerging markets across institutional differences. The analysis is based on 32 interviews conducted with the CEO and other executives of Genzyme at the corporate headquarters in Cambridge, Massachusetts, and in subsidiaries in Brazil, China, Costa Rica, France, India, and the United States.
Keywords: Emerging Markets;
Multinational Firms and Management;
Business and Government Relations;
Power and Influence;
Framework;
Biotechnology Industry;
Massachusetts;
Brazil;
China;
Costa Rica;
France;
India;
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Article
| Academy of Management Learning & Education
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EXEMPLARY CONTRIBUTION: Transforming Mental Models on Emerging Markets
Charles Dhanaraj and Tarun Khanna
Economic growth in the Western world increasingly depends on meaningful engagement with emerging markets such as Brazil, China, India, South Africa, and Turkey. Business schools are responding with increased attention to these markets in their research and curricula. However, in order to understand and leverage these opportunities for teaching and learning, it is apparent that students and executives may require a major transformation of their mental models, not just incremental adjustments or extensions. Institutional economics can help prospective and established managers recognize the role of formal and informal institutions and enable them to work around the "institutional voids" in emerging markets (Khanna & Palepu, 2010). We draw on this framework to identify critical shifts in mental models required for managing effectively in emerging markets and suggest core elements of the management learning process required to accomplish such a change.
Keywords: Emerging Markets;
Business Model;
Economic Growth;
Developing Countries and Economies;
Research;
Business Education;
Learning;
Financial Institutions;
Framework;
Transformation;
Perspective;
India;
China;
Brazil;
South Africa;
Turkey;
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Article
| Harvard Business Review
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The Paradox of Samsung's Rise
Tarun Khanna, Jaeyong Song and Kyungmook Lee
Twenty years ago, few people would have predicted that Samsung could transform itself from a low-cost original equipment manufacturer to a world leader in R&D, marketing, and design, with a brand more valuable than Pepsi, Nike, or American Express. Fewer still would have predicted the success of the path it has taken. For two decades now, Samsung has been grafting Western business practices onto its essentially Japanese system, combining its traditional low-cost manufacturing prowess with an ability to bring high-quality, high-margin branded products swiftly to market. Like Samsung, today's emerging giants—Haier in China, Infosys in India, and Koç in Turkey, for instance—face a paradox: their continued success requires turning away from what made them successful. The tightly integrated business systems that have worked in their home markets are unlikely to secure their future in global markets. Samsung has steadily navigated this paradox to transcend its initial success in its home markets and move onto the world stage. It is a story that holds many important lessons for the current generation of emerging giants seeking to do the same.
Keywords: Organizational Design;
Research and Development;
Marketing;
Business Processes;
Brands and Branding;
System;
Globalized Markets and Industries;
Transformation;
Cost;
Forecasting and Prediction;
Production;
Quality;
China;
India;
Turkey;
Citation: Khanna, Tarun, Jaeyong Song, and Kyungmook Lee. " The Paradox of Samsung's Rise." Harvard Business Review 89, nos. 7-8 (July–August 2011): 142–147.
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Article
| World Financial Review
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Winning in Emerging Markets: Spotting and Responding to Institutional Voids
Tarun Khanna and Krishna G. Palepu
Keywords: Emerging Markets;
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Article
| Journal of Economics & Management Strategy
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Diasporas and Domestic Entrepreneurs: Evidence from the Indian Software Industry
Ramana Nanda and Tarun Khanna
This study explores the importance of cross-border social networks for entrepreneurs in developing countries by examining ties between the Indian expatriate community and local entrepreneurs in India's software industry. We find that local entrepreneurs who have previously lived outside India rely significantly more on diaspora networks for business leads and financing. This is especially true for entrepreneurs who are based outside software hubs—where getting leads to new businesses and accessing finance is more difficult. Our results provide micro-evidence consistent with a view that cross-border social networks play an important role in helping entrepreneurs to circumvent the barriers arising from imperfect domestic institutions in developing countries.
Keywords: Diasporas;
Entrepreneurship;
Software;
Information Technology Industry;
India;
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Article
| Journal of Financial Economics
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Synchronicity and Firm Interlocks in an Emerging Market
Tarun Khanna and Catherine Thomas
Stock price synchronicity has been attributed to poor corporate governance and a lack of firm-level transparency. This paper investigates the association between different kinds of firm interlocks, control groups, and synchronicity in Chile. A unique data set containing equity cross holdings, common individual owners, and director interlocks is used to map out firm ties and control groups in the economy. While there is a correlation between synchronicity and shared ownership and equity ties, synchronicity is more strongly correlated with inter-locking directorates. The presence of shared directors is associated with either reduced firm-level transparency or increased correlation in firm fundamentals, for example, due to joint resource allocation within the group. In this way, the results are consistent with models where firm interlocks facilitate coordination across firms and are also consistent with models where relationships affect capital allocation.
Keywords: Stocks;
Price;
Corporate Governance;
Governance Controls;
Governing and Advisory Boards;
Resource Allocation;
Emerging Markets;
Ownership Stake;
Chile;
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Article
| Academy of Management Perspectives
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Learning From Economic Experiments in China and India
Tarun Khanna
Keywords: Economics;
India;
China;
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Article
| Journal of Financial Economics
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Testing Limits to Policy Reversal: Evidence from Indian Privatizations
Siddhartha G. Dastidar, Raymond Fisman and Tarun Khanna
Keywords: Policy;
Privatization;
India;
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Article
| Harvard Business Review
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Where Oil-Rich Nations Are Placing Their Bets
Rawi Abdelal, Ayesha Khan and Tarun Khanna
Keywords: Wealth;
Energy;
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Editorial
| International Herald Tribune
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Why Cooperation Matters
Tarun Khanna
Keywords: Cooperation;
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Journal Article
| Harvard Business Review
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China + India: The Power of Two
Tarun Khanna
China and India are burying the hatchet after four-plus decades of hostility. A few companies from both nations have been quick to gain competitive advantages by viewing the two as symbiotic. If Western corporations fail to do the same, they will lose their competitive edge--and not just in China and India but globally. The trouble is, most companies and consultants refuse to believe that the planet's most populous nations can mend fences. Not only do the neighbors annoy each other with their foreign policies, but they're also vying to dominate Asia. Moreover, the world's fastest-growing economies are archrivals for raw materials, technologies, capital, and overseas markets. Still, China and India are learning to cooperate, for three reasons. First, these ancient civilizations may have been at odds since 1962, but for 2,000 years before that, they enjoyed close economic, cultural, and religious ties. Second, neighbors trade more than non-neighbors do, research suggests. Third, China and India have evolved in very different ways since their economies opened up, reducing the competitiveness between them and enhancing the complementarities. Some companies have already developed strategies that make use of both countries' capabilities. India's Mahindra & Mahindra developed a tractor domestically but manufactures it in China. China's Huawei has recruited 1,500 engineers in India to develop software for its telecommunications products. Even the countries' state-owned oil companies, including Sinopec and ONGC, have teamed up to hunt for oil together. Multinational companies usually find that tapping synergies across countries is difficult. At least two American corporations, GE and Microsoft, have effectively combined their China and India strategies, allowing them to stay ahead of global rivals.
Keywords: Competency and Skills;
Economic Growth;
Cross-Cultural and Cross-Border Issues;
Multinational Firms and Management;
Business History;
Competitive Strategy;
Cooperation;
China;
India;
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Article
| Journal of Economic Literature
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Business Groups in Emerging Markets: Paragons or Parasites?
Tarun Khanna and Yishay Yafeh
Keywords: Groups and Teams;
Emerging Markets;
Citation: Khanna, Tarun, and Yishay Yafeh. " Business Groups in Emerging Markets: Paragons or Parasites?" Journal of Economic Literature 45, no. 2 (June 2007): 331–372. (Reprinted and adapted as Chapter 20 in The Oxford Handbook of Business Groups, edited by Asli M. Colpan, Takashi Hikino, and James R. Lincoln. Oxford Handbooks in Business and Management Series. Oxford University Press, July 2010.)
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Article
| Harvard Business Review
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Emerging Giants: Building World-Class Companies in Developing Countries
Tarun Khanna and Krishna G. Palepu
Keywords: Business Ventures;
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Article
| Journal of International Business Studies
|
Bringing History (Back) into International Business
G. Jones and Tarun Khanna
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Article
| Organization Science
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Interorganizational Ties and Business Group Boundaries: Evidence from an Emerging Economy
Tarun Khanna and Jan W. Rivkin
Keywords: Organizations;
Groups and Teams;
Boundaries;
Information;
Economy;
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Article
| Review of Economics and Statistics
|
Globalization and Similarities in Corporate Governance: A Cross-country Analysis
Tarun Khanna, Joe Kogan and Krishna G. Palepu
Keywords: Globalization;
Corporate Governance;
Theory;
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Article
| Harvard Business Review
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Strategies That Fit Emerging Markets
Tarun Khanna, Krishna G. Palepu and Jayant Sinha
Keywords: Strategy;
Emerging Markets;
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Article
| Academy of Management Review
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Perspectives on How Governments Matter
Tarun Khanna, Gregory Bigley, Thomas DAunno and Peter Smith Ring
Keywords: Perspective;
Government and Politics;
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Article
| Journal of Business
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Business Groups and Risk Sharing Around the World
Tarun Khanna and Yishay Yafeh
Keywords: Groups and Teams;
Risk and Uncertainty;
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Article
| Journal of International Business Studies
|
Globalization and Convergence in Corporate Governance: Evidence from Infosys and the Indian Software Industry
Tarun Khanna and Krishna G. Palepu
Keywords: Globalization;
Corporate Governance;
Computer Industry;
India;
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Article
| Journal of International Business Studies
|
New Frontiers in International Strategy
Joan Enric Ricart, Michael J. Enright, Pankaj Ghemawat, Stuart Hart and Tarun Khanna
Keywords: Strategy;
Global Range;
Citation: Ricart, Joan Enric, Michael J. Enright, Pankaj Ghemawat, Stuart Hart, and Tarun Khanna. " New Frontiers in International Strategy." Journal of International Business Studies 35, no. 3 (May 2004).
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Article
| Journal of Accounting Research
|
Disclosure Practices of Foreign Companies Interacting with U.S. Markets
Tarun Khanna, Krishna G. Palepu and Suraj Srinivasan
We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and Disclosure scores developed recently by Standard & Poor's. These scores rate the disclosure of companies from around the world using U.S. disclosure practices as an implicit benchmark. Results show a positive association between these disclosure scores and a variety of market interaction measures, including US Listing, US investment flows, export to and operations in the US. Trade with US, however, has an insignificant relationship with the disclosure scores. Our empirical analysis controls for the previously documented association between disclosure and firm size, performance, and country legal origin. Our results are broadly consistent with the hypothesis that cross-border economic interactions are associated with similarities in disclosure and governance practices.
Keywords: Management Practices and Processes;
Markets;
Investment;
Size;
Performance;
Cross-Cultural and Cross-Border Issues;
Corporate Governance;
Corporate Disclosure;
Trade;
United States;
Asia;
Europe;
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Article
| World Development
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Facilitating Development: The Role of Business Groups
Tarun Khanna and Raymond Fisman
Keywords: Growth and Development;
Groups and Teams;
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Article
| Foreign Policy
|
Can India Overtake China?
Yasheng Huang and Tarun Khanna
Keywords: India;
China;
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Article
| Strategic Management Journal
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Estimating the Performance Effects of Business Groups in Emerging Markets
Tarun Khanna and J. Rivkin
Keywords: Performance;
Groups and Teams;
Emerging Markets;
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Article
| Academy of Management Journal
|
The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile
Tarun Khanna and Krishna G. Palepu
Keywords: Groups and Teams;
Emerging Markets;
Chile;
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Article
| Strategic Management Journal
|
The Economic Modeling of Strategy Process: 'Clean Models' and 'Dirty Hands'
Tarun Khanna, Ranjay Gulati and Nitin Nohria
Keywords: Economics;
Strategy;
Finance;
Policy;
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Article
| European Economic Review
|
Business Groups and Social Welfare in Emerging Markets: Existing Evidence and Unanswered Questions
T. Khanna
Keywords: Groups and Teams;
Welfare or Wellbeing;
Markets;
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Article
| Journal of Finance
|
Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups
Tarun Khanna and Krishna G. Palepu
Keywords: Groups and Teams;
Profit;
Emerging Markets;
Theory;
India;
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Article
| Journal of Industrial Economics
|
The Structure of Licensing Contracts
B. Anand and T. Khanna
Keywords: Contracts;
Citation: Anand, B., and T. Khanna. " The Structure of Licensing Contracts." Journal of Industrial Economics 48, no. 1 (March 2000): 103–35. (Formerly titled "Intellectual Property Rights and Contract Structure.")
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Article
| Strategic Management Journal
|
Do Firms Learn to Create Value? The Case of Alliances
B. Anand and T. Khanna
Keywords: Business Ventures;
Alliances;
Value;
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Article
| Harvard Business Review
|
The Right Way to Restructure Conglomerates in Emerging Markets
Tarun Khanna and Krishna G. Palepu
Keywords: Business Conglomerates;
Emerging Markets;
Business Strategy;
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Article
| Journal of Economics & Management Strategy
|
Policy Shocks, Market Intermediaries, and Corporate Strategy: Evidence from Chile and India
Tarun Khanna and Krishna G. Palepu
Keywords: Markets;
Business Ventures;
Strategy;
Chile;
India;
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Article
| Journal of Economic Behavior & Organization
|
Is Trust a Historical Residue? Information Flows and Trust Levels
T. Khanna and R. Fisman
Keywords: Information;
Trust;
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Article
| Organization Science
|
The Scope of Alliances
T. Khanna
Keywords: Alliances;
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Article
| Brown Journal of World Affairs
|
Building Institutional Infrastructure
Tarun Khanna and Krishna G. Palepu
Keywords: Infrastructure;
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Article
| Journal of Industrial Economics
|
The Nature of Diversified Business Groups: A Research Design and Two Case Studies
P. Ghemawat and Tarun Khanna
Keywords: Business Ventures;
Groups and Teams;
Corporate Strategy;
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Article
| Strategic Management Journal
|
The Dynamics of Learning Alliances: Competition, Cooperation, and Relative Scope
Ranjay Gulati, Tarun Khanna and Nitin Nohria
Keywords: Alliances;
Learning;
Cooperation;
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Article
| Harvard Business Review
|
Why Focused Strategies May Be Wrong for Emerging Markets
Tarun Khanna and Krishna G. Palepu
Keywords: Strategy;
Emerging Markets;
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Article
| Management Science
|
Firm Asymmetries and Sequential R&D: Theory and Evidence from the Mainframe Computer Industry
T. Khanna and M. Iansiti
Keywords: Research and Development;
Theory;
Information;
Hardware;
Technology;
Computer Industry;
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Article
| Research Policy
|
Racing Behavior: Technological Evolution in the High-end Computer Industry
T. Khanna
Keywords: Behavior;
Technology;
Computer Industry;
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Article
| Industrial and Corporate Change
|
Technological Evolution, System Architecture, and the Obsolescence of Firm Capabilities
Marco Iansiti and T. Khanna
Keywords: Technology;
System;
Design;
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Article
| MIT Sloan Management Review
|
Unilateral Commitments and the Importance of Process in Alliances
R. Gulati, T. Khanna and N. Nohria
Keywords: Alliances;
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Chapter
| The Oxford Handbook of Business Groups
| 2010
Business Groups in Emerging Markets: Paragons or Parasites?
Tarun Khanna and Yishay Yafeh
Keywords: Business Ventures;
Groups and Teams;
Emerging Markets;
Developing Countries and Economies;
Citation: Khanna, Tarun, and Yishay Yafeh. "Business Groups in Emerging Markets: Paragons or Parasites?" Chap. 20 in The Oxford Handbook of Business Groups, edited by Asli M. Colpan, Takashi Hikino, and James R. Lincoln.Oxford Handbooks in Business and Management. Oxford University Press, 2010.
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Chapter
| Business Solutions for the Global Poor: Creating Social and Economic Value
| 2007
Health Services for the Poor in Developing Countries: Private vs. Public vs. Private & Public
Tarun Khanna and David M. Bloom
Keywords: Health Care and Treatment;
Poverty;
Welfare or Wellbeing;
Developing Countries and Economies;
Public Sector;
Private Sector;
Health Industry;
Citation: Khanna, Tarun, and David M. Bloom. "Health Services for the Poor in Developing Countries: Private vs. Public vs. Private & Public." In Business Solutions for the Global Poor: Creating Social and Economic Value, edited by V. Kasturi Rangan, John A. Quelch, Gustavo Herrero, and Brooke Barton. John Wiley & Sons, 2007.
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Chapter
| Asia's Giants: Comparing China and India
| 2005
Indigenous versus Foreign Business Models
Yasheng Huang and Tarun Khanna
Keywords: Business Model;
Citation: Huang, Yasheng, and Tarun Khanna. " Indigenous versus Foreign Business Models." Chap. 9 in Asia's Giants: Comparing China and India, edited by Edward Friedman, and Bruce Gilley. Palgrave Macmillan, 2005.
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Chapter
| The History of Corporate Governance around the World: Family Business Groups to Professional Managers
| 2005
The Evolution of Concentrated Ownership in India: Broad Patterns and a History of the Indian Software Industry
Tarun Khanna and Krishna G. Palepu
Keywords: History;
Business Conglomerates;
Software;
Ownership;
Information Technology Industry;
India;
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Chapter
| Concentrated Corporate Ownership
| 2000
Emerging Market Business Groups, Foreign Investors, and Corporate Governance
Tarun Khanna and Krishna G. Palepu
Keywords: Emerging Markets;
Business Ventures;
Foreign Direct Investment;
Corporate Governance;
Globalized Economies and Regions;
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Chapter
| Managing Strategically in an Interconnected World
| 1998
Competitive Policy Shocks and Strategic Management
P. Ghemawat, R. E. Kennedy and Tarun Khanna
Keywords: Competitive Strategy;
Corporate Strategy;
System Shocks;
Globalization;
Citation: Ghemawat, P., R. E. Kennedy, and Tarun Khanna. "Competitive Policy Shocks and Strategic Management." In Managing Strategically in an Interconnected World, edited by Michael A. Hitt, Joan E. Ricart i Costa, and Robert D. Nixon. Chichester: John Wiley & Sons, 1998.
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Chapter
| Research on Technological Innovation, Management, and Policy
| 1989
On Technological Evolution within and of Industry Boundaries
T. Khanna
Keywords: Technological Innovation;
Industry Structures;
Boundaries;
Citation: Khanna, T. "On Technological Evolution within and of Industry Boundaries." In Research on Technological Innovation, Management, and Policy. Vol. 4, edited by Richard S. Rosenbloom, and Robert A. Burgelman. Greenwich, CT: JAI Press, 1989.
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Chapter
| Competing in the Age of Digital Convergence
| 1997
What Does it Mean for Industries to Converge?
T. Khanna and S. Greenstein
Keywords: Economics;
Citation: Khanna, T., and S. Greenstein. "What Does it Mean for Industries to Converge?" In Competing in the Age of Digital Convergence, edited by D. B. Yoffie. Boston: Harvard Business School Press, 1997.
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Working Paper
| HBS Working Paper Series
| 2013
Independent Directors' Dissent on Boards: Evidence from Listed Companies in China
Juan Ma and Tarun Khanna
In this paper, we examine the circumstances under which so-called "independent" directors voice their independent views on public boards in a sample of Chinese firms. First, we ask why independent directors dissent, i.e. how they justify such dissent to public investors. We find that when independent directors dissent, they tend to offer mild, subjective justifications. Overt criticism of the management team is rare. Next, we ask when an independent director is more likely to dissent and who is more likely to dissent. Controlling for firm and board characteristics, we find that independent directors' dissent is associated with breakdown of social ties between the independent director and the board chairperson, who is at the center of the board bureaucracy in China. Dissent is more likely to occur when the chairperson who appointed the independent director has left the board. Dissent also tends to occur at the end of board "games", defined as a 60-day window prior to departure of the board chairperson or departure of the independent director herself. The endgame effect is particularly strong, seeing 27% of the dissent issued at board "endgames" which represents only 4% of independent directors' average tenure. While directors with foreign experience are more likely to dissent, we do not find that academics, accountants and lawyers are significantly more active in dissenting. Lastly, we show that dissent is consequential to the director and the firm. For directors, we show that dissent is significantly associated with the likelihood of exiting the director labor market. For firms, we document an economically and statistically significant cumulative abnormal return of -0.97% around announcement of dissent. Although the literature has suggested that dissent might be reflective of diverse viewpoints, and perhaps beneficial in and of itself through reduction of firm variability, we do not find this offsetting beneficial effect to be strong.
Keywords: corporate governance;
independent directors;
China;
China;
Asia;
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Working Paper
| HBS Working Paper Series
| 2009
State Owned Entity Reform in Absence of Privatization: Reforming Indian National Laboratories and Role of Leadership
Prithwiraj Choudhury and Tarun Khanna
The literature on state-owned entity (SOE) reform has been focused on privatization. We however show that even in the absence of property rights, SOEs may significantly improve performance and document 42 Indian state-owned laboratories over 1993-2006 starting from a base of negligible U.S. patents, being granted more patents than all domestic private firms combined. Patent licensing revenue increases from 3% to 15% as a fraction of government budget without negatively affecting publication quality and quantity. This follows incentive policy change and leadership change at labs, an event whose timing is plausibly exogenous being dictated by government employment rules.
Keywords: Factories, Labs, and Plants;
Patents;
Rights;
Emerging Markets;
State Ownership;
Privatization;
Performance Improvement;
India;
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Working Paper
| HBS Working Paper Series
| 2004
Bringing History into International Business
Geoffrey Jones and Tarun Khanna
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Working Paper
| HBS Working Paper Series
| 2004
The Evolution of Concentrated Ownership in India Broad Patterns and a History of the Indian Software Industry
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "The Evolution of Concentrated Ownership in India Broad Patterns and a History of the Indian Software Industry." Harvard Business School Working Paper, No. 05–001, July 2004. (Also NBER Working Paper No. 10613, July 2004. Published as a chapter in The Rise and Fall of Business Families, edited by Randall Morck. University of Chicago Press, 2005.)
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Working Paper
| HBS Working Paper Series
| 2003
Globalization and Trust: Theory and Evidence from Cooperatives
Ramon Casadesus-Masanell and Tarun Khanna
Citation: Casadesus-Masanell, Ramon, and Tarun Khanna. "Globalization and Trust: Theory and Evidence from Cooperatives." Harvard Business School Working Paper, No. 03–081, February 2003.
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Working Paper
| HBS Working Paper Series
| 2003
Disclosure Practices of Foreign Companies Interacting with U.S. Markets
Tarun Khanna, Krishna G. Palepu and Suraj Srinivasan
Citation: Khanna, Tarun, Krishna G. Palepu, and Suraj Srinivasan. "Disclosure Practices of Foreign Companies Interacting with U.S. Markets." Harvard Business School Working Paper, No. 03–081, January 2003.
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Working Paper
| HBS Working Paper Series
| 2002
Product and Labor Market Globalization & Convergence of Corporate Governance: The Case of Infosys and The Indian Software Industry
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "Product and Labor Market Globalization & Convergence of Corporate Governance: The Case of Infosys and The Indian Software Industry." Harvard Business School Working Paper, No. 02–040, January 2002.
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Working Paper
| HBS Working Paper Series
| 2002
Globalization and Corporate Governance Convergence? A Cross-Country Analysis
Tarun Khanna, Joe Kogan and Krishna G. Palepu
Citation: Khanna, Tarun, Joe Kogan, and Krishna G. Palepu. "Globalization and Corporate Governance Convergence? A Cross-Country Analysis." Harvard Business School Working Paper, No. 02–041, January 2002.
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Working Paper
| HBS Working Paper Series
| 2001
Analyst Activity Around the World
James Chang, Tarun Khanna and Krishna G. Palepu
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Working Paper
| HBS Working Paper Series
| 2001
The Structure of Profitability Around the World
Tarun Khanna and Jan Rivkin
Citation: Khanna, Tarun, and Jan Rivkin. "The Structure of Profitability Around the World." Harvard Business School Working Paper, No. 01–056, April 2001.
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Working Paper
| HBS Working Paper Series
| 2000
Business Groups and Risk Sharing Around the World
Tarun Khanna and Yishay Yafeh
Citation: Khanna, Tarun, and Yishay Yafeh. "Business Groups and Risk Sharing Around the World." Harvard Business School Working Paper, No. 01–041, December 2000.
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Working Paper
| HBS Working Paper Series
| 2000
Interorganizational Ties and Business Group Boundaries: Evidence from an Emerging Economy
Tarun Khanna and Jan Rivkin
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Working Paper
| HBS Working Paper Series
| 1999
Business Groups and Social Welfare in Emerging Markets: Existing Evidence & Unanswered Questions
Tarun Khanna
Citation: Khanna, Tarun. "Business Groups and Social Welfare in Emerging Markets: Existing Evidence & Unanswered Questions." Harvard Business School Working Paper, No. 00–044, December 1999.
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Working Paper
| HBS Working Paper Series
| 1999
Estimating the Performance Effects of Networks in Emerging Markets
Tarun Khanna and Jan Rivkin
Citation: Khanna, Tarun, and Jan Rivkin. "Estimating the Performance Effects of Networks in Emerging Markets." Harvard Business School Working Paper, No. 99–108, March 1999.
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Working Paper
| HBS Working Paper Series
| 1998
The Future of Business Groups in Emerging Markets: Long Run Evidence from Chile
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "The Future of Business Groups in Emerging Markets: Long Run Evidence from Chile." Harvard Business School Working Paper, No. 99–077, December 1998.
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Working Paper
| HBS Working Paper Series
| 1998
Policy Shocks, Market Intermediaries, and Corporate Strategy: The Evolution of Business Groups in Chile and India
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "Policy Shocks, Market Intermediaries, and Corporate Strategy: The Evolution of Business Groups in Chile and India." Harvard Business School Working Paper, No. 98–100, December 1998.
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Working Paper
| HBS Working Paper Series
| 1998
Emerging Market Business Groups, Foreign Investors, and Corporate Governance
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "Emerging Market Business Groups, Foreign Investors, and Corporate Governance." Harvard Business School Working Paper, No. 99–017, August 1998.
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Working Paper
| HBS Working Paper Series
| 1998
Is Trust a Historical Residue? Information Flows and Trust Levels
Raymond Fisman and Tarun Khanna
Citation: Fisman, Raymond, and Tarun Khanna. "Is Trust a Historical Residue? Information Flows and Trust Levels." Harvard Business School Working Paper, No. 98–008, August 1998.
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Working Paper
| HBS Working Paper Series
| 1998
Facilitating Development: The Role of Business Groups
Raymond Fisman and Tarun Khanna
Citation: Fisman, Raymond, and Tarun Khanna. "Facilitating Development: The Role of Business Groups." Harvard Business School Working Paper, No. 98–076, March 1998.
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Working Paper
| HBS Working Paper Series
| 1997
Corporate Strategies for Emerging Markets in Business Groups
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "Corporate Strategies for Emerging Markets in Business Groups." Harvard Business School Working Paper, No. 97–060, February 1997.
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Working Paper
| HBS Working Paper Series
| 1996
The Nature of Diversified Business Groups: A Research Design and Two Case Studies
Pankaj Ghemawat and Tarun Khanna
Citation: Ghemawat, Pankaj, and Tarun Khanna. "The Nature of Diversified Business Groups: A Research Design and Two Case Studies." Harvard Business School Working Paper, No. 97–043, November 1996.
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Working Paper
| HBS Working Paper Series
| 1996
Corporate Scope and Institutional Context: An Empirical Analysis of Diversified Indian Business Groups
Tarun Khanna and Krishna G. Palepu
Citation: Khanna, Tarun, and Krishna G. Palepu. "Corporate Scope and Institutional Context: An Empirical Analysis of Diversified Indian Business Groups." Harvard Business School Working Paper, No. 96–051, October 1996.
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Working Paper
| HBS Working Paper Series
| 1996
Winner-Take-All Alliances
Tarun Khanna
Citation: Khanna, Tarun. "Winner-Take-All Alliances." Harvard Business School Working Paper, No. 96–033, January 1996.
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Teaching Note
| HBS Case Collection
|
2013
Vale: Global Expansion in the Challenging World of Mining (TN) (A) and (B)
Tarun Khanna and Aldo Musacchio
Keywords: globalization;
mining;
Brazil;
emerging markets;
Mining;
Mining Industry;
Brazil;
South America;
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Teaching Note
| HBS Case Collection
|
2013
Aadhaar: India's 'Unique Identification' System (TN)
Tarun Khanna and Anjali Raina
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Teaching Note
| HBS Case Collection
|
2012
Indian Railways: Building a Permanent Legacy? (TN)
Tarun Khanna and Aldo Musacchio
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Case
| HBS Case Collection
|
2012
(Revised from original 2011 version)
Haier: Taking a Chinese Company Global in 2011
Tarun Khanna, Krishna G. Palepu and Phillip Andrews
In 2011, Haier, China's leading appliance manufacturer, had over $20 billion in worldwide sales and had just been named the leading refrigerator manufacturer worldwide. Describes Haier's rise over three decades from a defunct refrigerator factory in China's Qingdao province to an international player with $5.5 billion in overseas sales. Haier had followed a nontraditional expansion strategy of entering the developed markets of Europe and the United States as a niche player before venturing into Middle Eastern and neighboring Asian markets. Looking ahead to the next decade, Haier CEO Zhang Ruimin saw opportunities for Haier to grow through product diversification and additional market penetration in both developed and emerging markets. He and his colleagues would depend on their experience of acquiring numerous companies, entering and retaining new markets, restructuring the organization, and managing hundreds of subsidiaries around the world. They would need to determine which of the lessons learned from Haier's international operations should be implemented in China and which skills learned at home could best be applied abroad.
Keywords: Business Growth and Maturation;
Global Strategy;
Expansion;
Diversification;
Emerging Markets;
Consumer Products Industry;
Manufacturing Industry;
China;
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Teaching Note
| HBS Case Collection
|
2012
(Revised from original 2009 version)
Genzyme's CSR Dilemma: How to Play its HAND (TN)
Christopher A. Bartlett, Tarun Khanna and Prithwiraj Choudhury
Genzyme, a global biotechnology company, launches a program to develop therapies for neglected diseases (e.g., malaria, TB), giving away the intellectual property. This case focuses on the decision of which diseases, which partnerships, and which markets should management decide to fund. But the bigger issue is how this program, developed under the umbrella role Genzyme's corporate social responsibility, fits into its global competitive strategy.
Keywords: Global Strategy;
Health Care and Treatment;
Intellectual Property;
Corporate Social Responsibility and Impact;
Partners and Partnerships;
Research and Development;
Biotechnology Industry;
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Supplement
| HBS Case Collection
|
2011
Expansion at Narayana Hrudayalaya
Tarun Khanna and Tanya Bijlani
Narayana Hrudayalaya has expanded into a multi-specialty health city in Bangalore, with a 25-acre campus that offers complex tertiary care procedures ranging from orthopedics to cancer care. In 2008, NH raised private equity from JP Morgan and Pinebridge Investments to expand to multiple locations across India. The hospital is in the process of setting up health cities and smaller secondary-care hospitals across the country, in order to treat patients close to where they live. In the city of Mysore, NH is experimenting with a low-cost hospital, with a capital investment of $4 million. Management also plans to set up a hospital in the Cayman Islands, an hour's flight from Miami in the United States, where they will offer tertiary care procedures at a fraction of US prices, thereby bringing Dr. Shetty's model of compassionate care at affordable prices, to those in the developed world.
Keywords: Investment;
Price;
Health Care and Treatment;
Emerging Markets;
Social Enterprise;
Expansion;
Health Industry;
Bangalore;
Cayman Islands;
Miami;
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Supplement
| HBS Case Collection
|
2011
Narayana Hrudayalaya Heart Hospital
Tarun Khanna and Tanya Bijlani
Narayana Hrudayalaya (NH) is one of the world's busiest heart hospitals, where surgeons perform 30-35 complex cardiac surgeries daily. With an average cost of $1,800 per surgery, the hospital treats patients at affordable prices, and does not turn away even the poorest of the poor. The hospital's high volumes provide economies of scale that keep costs low, and offer surgeons greater experience, thereby resulting in high quality. NH utilizes its resources, including its equipment and infrastructure, as well as the time of its doctors and residents, optimally, further pushing costs down. The Yeshasvini insurance scheme, conceptualized by Dr. Devi Shetty, founder of NH, provides members of farming cooperatives access to cashless treatment in over 350 hospitals across the state of Karnataka.
Keywords: Buildings and Facilities;
Experience and Expertise;
Cost Management;
Insurance;
Health Care and Treatment;
Resource Allocation;
Time Management;
Emerging Markets;
Infrastructure;
Cooperative Ownership;
Quality;
Social Enterprise;
Health Industry;
Karnataka;
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Case
| HBS Case Collection
|
2011
(Revised from original 2005 version)
Narayana Hrudayalaya Heart Hospital: Cardiac Care for the Poor (A)
Tarun Khanna, V. Kasturi Rangan and Merlina Manocaran
Describes the mission, vision, and strategy of a team of entrepreneurs headed by a charismatic heart surgeon who founded a heart hospital in Bangalore, India. The purpose of the hospital was to offer health care for the masses. This tertiary care hospital performed over 4,000 surgeries a year (approximately half on pediatric patients), which is more than that performed by The Cleveland Clinic and the Mayo Clinic (ranked #1 and #2 in the United States) combined. The interesting aspect of its business formula was its ability to offer such complex surgeries as CABG (popularly known as bypass surgery) for about $2,000, which was substantially less than other similarly equipped hospitals in India. Its founder has already entered into other complementary activities, such as a statewide insurance scheme for rural farmers--Yeshaswini. The founder has ambitious plans for a comprehensive "Walmartization" of health care in India.
Keywords: Social Entrepreneurship;
Health Care and Treatment;
Goals and Objectives;
Social Marketing;
Mission and Purpose;
Strategic Planning;
Social Enterprise;
Welfare or Wellbeing;
Health Industry;
Service Industry;
Bangalore;
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Supplement
| HBS Case Collection
|
2012
(Revised from original 2011 version)
Narayana Hrudayalaya Heart Hospital: Cardiac Care for the Poor (B)
Tarun Khanna and Tanya Bijlani
Narayana Hrudayalaya (NH) has expanded into a multi-specialty health city in Bangalore and has grown to twelve locations across India. The hospital plans to build 300-bed secondary-care hospitals in smaller cities across India, with a goal to operate 30,000 beds in seven years, which will make it comparable with the world's largest hospital chains. NH operates the world's largest tele-cardiology network, which provides consultations to people in 800 locations across the world, including 53 African countries. Management also plans to open a 2,000-bed hospital in the Cayman Islands to provide underinsured Americans with tertiary care procedures at 40% below U.S. prices, thereby bringing Dr. Shetty's model of compassionate care at affordable prices to the developed world.
Keywords: Emerging Markets;
Growth and Development Strategy;
Goals and Objectives;
Social Enterprise;
Health Care and Treatment;
Poverty;
Welfare or Wellbeing;
Health Industry;
Bangalore;
Cayman Islands;
Africa;
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Supplement
| HBS Case Collection
|
2011
Indian Railways: Building a Permanent Legacy (B)?
Aldo Musacchio, Tarun Khanna and Rachna Tahilyani
Supplement to case 710008.
Keywords: Transportation Industry;
India;
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Class Lecture
|
2011
(Revised from original 2011 version)
Winning in Emerging Markets (FSS)
Krishna G. Palepu and Tarun Khanna
Keywords: Emerging Markets;
Competitive Strategy;
Citation: Palepu, Krishna G., and Tarun Khanna. " Winning in Emerging Markets (FSS)." Harvard Business School Class Lecture 111-713, May 2011. (Revised from original April 2011 version.)
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Case
| HBS Case Collection
|
2011
(Revised from original 2011 version)
Nokia: The Burning Platform
Juan Alcacer, Tarun Khanna and Mary Furey
Overview on the state of Nokia since the “Emerging Nokia?” case was written.
Keywords: Business Strategy;
Corporate Strategy;
Competitive Advantage;
Marketing Strategy;
Emerging Markets;
Network Effects;
Telecommunications Industry;
Computer Industry;
Citation: Alcacer, Juan, Tarun Khanna, and Mary Furey. " Nokia: The Burning Platform." Harvard Business School Case 711-514, May 2011. (Revised from original May 2011 version.)
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Case
| HBS Case Collection
|
2011
(Revised from original 2010 version)
Emerging Nokia?
Juan Alcacer, Tarun Khanna, Mary Furey and Rakeen Mabud
By late 2009, Nokia was grappling with the decision of whether to recover its leading position in the high-profit developed markets, where they were losing market share to the likes of Apple and Samsung, or defend its market leadership in the low-margin, high-volume emerging markets. This case poses the following questions: Should Nokia stay the course, operating in both the developed and emerging markets, or should they forego one for the other? And what would this imply for the types of handsets and services they would need to offer?
Keywords: Innovation and Invention;
Emerging Markets;
Industry Structures;
Competitive Advantage;
Corporate Strategy;
Telecommunications Industry;
Finland;
Citation: Alcacer, Juan, Tarun Khanna, Mary Furey, and Rakeen Mabud. " Emerging Nokia?" Harvard Business School Case 710-429, May 2011. (Revised from original April 2010 version.)
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Case
| HBS Case Collection
|
2010
(Revised from original 2010 version)
Vale: Global Expansion in the Challenging World of Mining
Tarun Khanna, Aldo Musacchio and Ricardo Reisen de Pinho
In 2009 the management of Vale, a Brazilian diversified mining company and the largest iron ore producer in the world, was under pressure from at least two fronts. First, the emergence of China as the most important consumer of iron ore in the last few years had changed the pricing system for iron ore from long-term contracts based on negotiated "benchmark prices" to contracts based on spot prices, usually forcing mining companies to pay for shipping. Second, for Brazil's charismatic president, Lula, a former union leader, Vale's layoffs during the global financial crisis and its perceived move away from Brazil (as Vale increased its exports to China and purchased Chinese vessels to ship iron ore to Asia) were reasons to start an open campaign to pressure Vale and Roger Agnelli to invest in integrated steel mills in Brazil. In October of 2009, the CEO of Vale, Agnelli was going to meet with Lula and had to decide what to do to attenuate these political pressures. What could Agnelli do to deal with political pressures at home? Was the purchase of large vessels to ship iron ore to Asia a good decision at a time when the shipping industry had spare capacity?
Keywords: Financial Crisis;
Investment;
Global Strategy;
Risk Management;
Market Entry and Exit;
Business and Government Relations;
Competitive Strategy;
Mining Industry;
Brazil;
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Case
| HBS Case Collection
|
2010
(Revised from original 2010 version)
TeamLease: Putting India to Work (Il) Legally
Tarun Khanna and Anjali Raina
This case focuses on the growth dilemmas facing Manish Sabharwal, co-founder, TeamLease Services Pvt. Ltd. TeamLease is a human resource outsourcing and temp staffing company located in India, which has grown rapidly from 2002 to 2009. Set in the context of the highly regulated Indian labour market, the case raises the questions of how entrepreneurial leadership and strategy formulation can leverage the opportunities represented by the gaps between what the law says and what the market needs. It provides an opportunity to examine the concepts of power and influence and how they can be created and wielded to catalyze change and build a new industry that is technically illegal.
Keywords: Entrepreneurship;
Employment;
Human Capital;
Lawfulness;
Leadership;
Growth and Development Strategy;
Demand and Consumers;
Power and Influence;
Employment Industry;
India;
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Case
| HBS Case Collection
|
2010
(Revised from original 2008 version)
Dogus Group: Weighing Partners for Garanti Bank
Tarun Khanna, Krishna G. Palepu and Richard Bullock
In August 2005, the leadership of Turkey's Dogus Group considered opportunities for its flagship enterprise, Garanti Bank, to partner with a foreign financial institution. The case describes the Turkish banking industry and Garanti Bank's position within it, and asks students to consider whether partnership makes sense for Garanti and, if so, which bidder it should select.
Keywords: International Finance;
Emerging Markets;
Partners and Partnerships;
Value;
Banking Industry;
Turkey;
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Case
| HBS Case Collection
|
2010
METRO Cash & Carry in China, 2010
Tarun Khanna and David Lane
International wholesaler METRO Cash & Carry in 2010 had little choice but to expand swiftly in Asia to facilitate growth beyond its increasingly mature markets in Western Europe. China was of particular note to MCC, but the company had broken even there only in 2008 after 14 years of operations. Were current approaches sufficient to reach METRO's growth goals in China? If not, what changes were necessary, and how would MCC managers implement them?
Keywords: Expansion;
Business Growth and Maturation;
Business Strategy;
Strategic Planning;
Growth and Development Strategy;
Organizational Change and Adaptation;
Retail Industry;
China;
Citation: Khanna, Tarun, and David Lane. "METRO Cash & Carry in China, 2010." Harvard Business School Case 710-448, April 2010.
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Case
| HBS Case Collection
|
2010
(Revised from original 2006 version)
Teva Pharmaceutical Industries, Ltd
Tarun Khanna, Krishna G. Palepu and Claudine Deborah Madras
How do companies develop a strategy that is both low-cost and differentiated without becoming squeezed in the middle? Describes how Teva, Israel's first and largest multinational, achieved its globally dominant position in generic pharmaceuticals, an industry that has undergone significant change over the last 20 years. Examines its strategies to defend itself against both low-cost competitors from India and other emerging markets as well as Big Pharma companies, which are adopting increasingly aggressive tactics in genetics.
Keywords: Multinational Firms and Management;
Emerging Markets;
Rank and Position;
Competitive Strategy;
Pharmaceutical Industry;
India;
Israel;
Citation: Khanna, Tarun, Krishna G. Palepu, and Claudine Deborah Madras. " Teva Pharmaceutical Industries, Ltd." Harvard Business School Case 707-441, March 2010. (Revised from original September 2006 version.)
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Teaching Note
| HBS Case Collection
|
2010
(Revised from original 2005 version)
Mondragon Corporacion Cooperativa (MCC) TN
Tarun Khanna and Ramon Casadesus-Masanell
Teaching Note to (9-702-457).
Keywords: Cooperative Ownership;
Spain;
Citation: Khanna, Tarun, and Ramon Casadesus-Masanell. "Mondragon Corporacion Cooperativa (MCC) TN." Harvard Business School Teaching Note 705-483, March 2010. (Revised from original March 2005 version.)
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Teaching Note
| HBS Case Collection
|
2010
Narayana Hrudayalaya Heart Hospital: Cardiac Care for the Poor (TN)
Tarun Khanna and V. Kasturi Rangan
Teaching Note for [505078].
Keywords: Health Industry;
Service Industry;
Bangalore;
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Case
| HBS Case Collection
|
2010
(Revised from original 2006 version)
Two Ways to Fly South: Lan Airlines and Southwest Airlines
Ramon Casadesus-Masanell, Tarun Khanna, Jorge Tarzijan and Jordan Mitchell
To maximize their effectiveness, color cases should be printed in color. Looks at the different business models of two highly successful and profitable airlines: Chilean-based Lan Airlines and U.S.-based Southwest Airlines. Lan Airlines pursues a hub-to-spoke international full-service model where passenger and cargo operations are highly integrated. Southwest, on the other hand, is set up for a point-to-point, low-fare, "no frill's" service with a homogenous fleet. Designed for a course on the design of business models. Includes color exhibits.
Keywords: Business Model;
Service Operations;
Competitive Advantage;
Air Transportation Industry;
United States;
Chile;
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Case
| HBS Case Collection
|
2010
(Revised from original 2002 version)
Mondragon Corporacion Cooperativa (MCC)
Ramon Casadesus-Masanell and Tarun Khanna
Mondragon Corp. Cooperativa (MCC) is a conglomerate of more than 100 cooperatives in Basque Country, Spain. From 1996, MCC has pursued an internationalization strategy. As the company goes global, MCC's business model, based on trust and social involvement, seems to be threatened. Can MCC effectively become a global player while being truthful to the principles on which its past successes have been built?
Keywords: Business Conglomerates;
Business Model;
Global Strategy;
Cooperative Ownership;
Trust;
Spain;
Basque Provinces;
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Case
| HBS Case Collection
|
2010
(Revised from original 2008 version)
Finland's S Group: Competing with a Cooperative Approach to Retail
Ramon Casadesus-Masanell, Tarun Khanna, Samuli Skurnik and Jordan Mitchell
The case looks at the two dominant Finnish retailers: S Group and Kesko. S Group is a customer-owned cooperative, which has a unique holding structure whereby 1.7 million residents (or 70 percent of Finnish households) own 22 regional cooperatives. In turn, the regional cooperatives own SOK, a centralized company that provides services to the regional cooperatives. Throughout the 1980s and 1990s, S Group lagged far behind the market leader, Kesko. However, since 2005, S Group has held the leadership position; in 2007, it had captured 41 percent market while Kesko's was 33.9 percent. Kesko Plc is publicly traded and pursues a model whereby retailer entrepreneurs use their personal funds to invest in stores and operate them completely. The case requires that students consider sources of competitive advantage that arise from the companies' markedly different business models.
Keywords: Business Model;
Cooperative Ownership;
Public Ownership;
Competitive Advantage;
Retail Industry;
Finland;
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Background Note
| HBS Case Collection
|
2010
In the Spotlight: The Market for Iron Ore
Aldo Musacchio, Tarun Khanna and Jenna Bernhardson
This note discusses the structure and functioning of the market for iron ore. This market has traditionally functioned using a benchmark pricing mechanism, in which large steel mills in Japan (now in China) negotiate the benchmark price with the largest of the big three iron ore producers (Vale do Rio Doce). Yet this market is changing rapidly, with the rise of China as the main consumer of iron ore the rules seem to be changing. The note examines the increasing importance of the spot market for iron ore and the advantages and disadvantages of abandoning the benchmark price system for both consumers and miners.
Keywords: Industry Structures;
Mining;
Price;
Valuation;
Business Strategy;
Demand and Consumers;
Business and Government Relations;
Mining Industry;
China;
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Supplement
| HBS Case Collection
|
2010
Genzyme's CSR Dilemma: How to Play its HAND - video supplement
Tarun Khanna and Christopher A. Bartlett
Keywords: Biotechnology Industry;
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Case
| HBS Case Collection
|
2009
METRO Cash & Carry in China, 2008
Tarun Khanna
In April 2008, the country head for METRO AG's Cash & Carry wholesaling operations is considering the most appropriate model for expansion in China, where METRO has operated stores for small business professionals for eight years. In addition, METRO is actively developing local suppliers for fresh food, a mainstay of its sales, to differentiate its product quality from local competitors.
Keywords: Developing Countries and Economies;
Emerging Markets;
Distribution Channels;
Partners and Partnerships;
Competitive Strategy;
Expansion;
Retail Industry;
China;
Citation: Khanna, Tarun. "METRO Cash & Carry in China, 2008." Harvard Business School Case 710-432, November 2009.
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Supplement
| HBS Case Collection
|
2009
Gabriel Rozman, Tata Consultancy Services Iberoamerica
Krishna G. Palepu and Tarun Khanna
Keywords: Consulting Industry;
Africa;
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Case
| HBS Case Collection
|
2009
(Revised from original 2008 version)
Crossing Borders: MTC's Journey through Africa
Tarun Khanna and Ayesha Khan
This is the story of MTC, a Kuwaiti telecom company that has grown from a sleepy, state monopoly to become one of the fastest growing telecom companies in the world, with the largest regional footprint across the Middle East and Africa. The CEO of the company, Dr. Saad Al Barrak, had been successful in executing an aggressive growth plan that found its crown jewel in the acquisition of Celtel, one of the largest telecom companies in sub-Saharan Africa. However, this acquisition threw MTC into a dynamic new context and marked the beginning of a very different phase. If Dr. Saad was going to lead MTC into the topmost ranks of global telecom, his team would have to successfully grapple with all the growing pains of managing across borders, brand names, and cultures. All against the backdrop of an unpredictable African market with huge growth potential and rapidly increasing competition.
Keywords: Mergers and Acquisitions;
Cross-Cultural and Cross-Border Issues;
Global Strategy;
Globalized Firms and Management;
Growth and Development Strategy;
Emerging Markets;
Telecommunications Industry;
Africa;
Kuwait;
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Case
| HBS Case Collection
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2009
(Revised from original 2009 version)
Indian Railways: Building a Permanent Legacy?
Tarun Khanna, Aldo Musacchio and Rachna Tahilyani
Keywords: Government and Politics;
Managerial Roles;
Size;
State Ownership;
Performance;
Transportation Industry;
India;
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Case
| HBS Case Collection
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2009
(Revised from original 2008 version)
Sex, Drugs, and Rock 'n Roll: The MTV Approach to Tackling HIV/AIDS
Tarun Khanna, Sonali R. Bloom and David E. Bloom
This case explores the role that MTV, with its heavy diet of music and general youth-oriented media content, plays in spreading public-service messaging to contain the scourge of HIV/AIDS worldwide. There is a focus especially on its efforts in several emerging markets, particularly the parts of Africa that have a heavy disease incidence. MTV has developed a DNA of public service announcements that it claims are of central relevance to its high-risk customer base. How core is this to the strategy of a for-profit firm like MTV? What role can a multinational play in helping develop the health care "soft" infrastructure in such emerging markets?
Keywords: For-Profit Firms;
Developing Countries and Economies;
Multinational Firms and Management;
Health Care and Treatment;
Emerging Markets;
Corporate Social Responsibility and Impact;
Corporate Strategy;
Health Industry;
Africa;
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Exercise
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2012
(Revised from original 2008 version)
Your Strategy—A Strategy Formulation Exercise for the General Management Program (GMP)
Tarun Khanna, Robyn C. Davis and Stephanie R. Khurana
This exercise is meant to help students take strategy concepts learned and adapt/apply them to their organizations.
Keywords: Learning;
Business or Company Management;
Practice;
Strategy;
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Case
| HBS Case Collection
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2009
(Revised from original 1999 version)
Tricon Restaurants International: Globalization Re-examined
Pankaj Ghemawat and Tarun Khanna
Describes a leading fast food operator/franchiser trying to consolidate and standardize its operations worldwide and focus its efforts on a few key markets. Lends itself to a discussion of how global the fast food industry is, whether Tricon's new international strategy is consistent with industry structure and its competitive position, and, if so, which country markets to focus on.
Keywords: Business Ventures;
Global Strategy;
Markets;
Operations;
Competition;
Consolidation;
Food and Beverage Industry;
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Case
| HBS Case Collection
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2009
(Revised from original 2008 version)
House of Tata: Acquiring a Global Footprint
Tarun Khanna, Krishna G. Palepu and Richard Bullock
Chronicles the globalization of the Tata Group, one of India's largest business groups. Since 2000, many Tata Group operating companies have aggressively built international businesses, particularly through overseas acquisitions. After describing the globalization rationales and approaches of the major Tata Group companies, the case asks students to consider whether Tata Motors should pursue the acquisition of the Jaguar and Land Rover brands owned by US-based Ford Motor company.
Keywords: Mergers and Acquisitions;
Developing Countries and Economies;
Globalized Firms and Management;
Growth and Development Strategy;
India;
United States;
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Supplement
| HBS Case Collection
|
2009
Vineet Nayar at HCL Unstructure 2008
Linda A. Hill, Tarun Khanna and Emily Stecker
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Teaching Note
| HBS Case Collection
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2009
Dogus Group: Weighing Partners for Garanti Bank (TN)
Tarun Khanna and Krishna G. Palepu
Teaching Note for [709401].
Keywords: Opportunities;
Partners and Partnerships;
Bids and Bidding;
Financial Institutions;
Financial Services Industry;
Construction Industry;
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Teaching Note
| HBS Case Collection
|
2009
Sex, Drugs, and Rock 'n Roll: The MTV Approach to Tackling HIV/AIDS (TN)
Tarun Khanna, Sonali R. Bloom and David E. Bloom
Teaching Note for [709429].
Keywords: Advertising;
Emerging Markets;
Health Pandemics;
Announcements;
Social Issues;
Customers;
For-Profit Firms;
Business Strategy;
Infrastructure;
Multinational Firms and Management;
Music Industry;
Entertainment and Recreation Industry;
Africa;
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Teaching Note
| HBS Case Collection
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2009
House of Tata: Acquiring a Global Footprint (TN)
Tarun Khanna and Krishna G. Palepu
Teaching Note for case #708-446
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Teaching Note
| HBS Case Collection
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2009
HCL Technologies (A) (TN)
Tarun Khanna and Linda A. Hill
Teaching Note for [408004].
Keywords: Leading Change;
Transformation;
Competition;
Globalized Markets and Industries;
Employees;
Computer Industry;
Information Technology Industry;
India;
Citation: Khanna, Tarun, and Linda A. Hill. " HCL Technologies (A) (TN)." Harvard Business School Teaching Note 409-077, January 2009.
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Teaching Note
| HBS Case Collection
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2009
Bunge: Food, Fuel, and World Markets (TN)
Tarun Khanna, Santiago Mingo and Jonathan West
Teaching Note for [708443].
Keywords: Agribusiness;
Sales;
Integration;
Globalized Markets and Industries;
Developing Countries and Economies;
Competition;
Business Model;
Trade;
Performance Efficiency;
Agriculture and Agribusiness Industry;
New York (state, US);
Brazil;
India;
China;
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Case
| HBS Case Collection
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2009
(Revised from original 2006 version)
METRO Cash & Carry
Tarun Khanna, Krishna G. Palepu, Carin-Isabel Knoop and David Lane
Analyzes the globalization of Metro Case & Carry, a German wholesaler, which has flourished in many foreign markets but struggled to gain traction in India. Considers Metro's experience in Russia and China to put the company's challenges in India in comparative perspective. Pays particular attention to the institutional obstacles for a multinational to tap into the opportunities offered by emerging markets.
Keywords: Cross-Cultural and Cross-Border Issues;
Global Strategy;
Multinational Firms and Management;
Emerging Markets;
Market Entry and Exit;
China;
India;
Russia;
Germany;
Citation: Khanna, Tarun, Krishna G. Palepu, Carin-Isabel Knoop, and David Lane. " METRO Cash & Carry." Harvard Business School Case 707-505, January 2009. (Revised from original December 2006 version.)
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Teaching Note
| HBS Case Collection
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2008
Crossing Borders: MTC's Journey through Africa (TN)
Tarun Khanna
Teaching Note for [708477].
Keywords: Growth and Development;
Monopoly;
Strategic Planning;
Mergers and Acquisitions;
Leadership;
Cross-Cultural and Cross-Border Issues;
Competition;
Developing Countries and Economies;
Brands and Branding;
Culture;
Telecommunications Industry;
Kuwait;
Africa;
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Supplement
| HBS Case Collection
|
2008
Dogus Group: Weighing Partners for Garanti Bank (Video)
Tarun Khanna and Krishna G. Palepu
Keywords: Partners and Partnerships;
Banks and Banking;
Banking Industry;
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Supplement
| HBS Case Collection
|
2008
Zain (MTC) Pre-class (Video)
Tarun Khanna
Keywords: Media;
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Supplement
| HBS Case Collection
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2008
Zain (MTC) Post-class (Video)
Tarun Khanna
Keywords: Media;
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Class Lecture
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2008
(Revised from original 2005 version)
Strategy: Building and Sustaining Competitive Advantage
Bharat N. Anand, Stephen P. Bradley, Pankaj Ghemawat, Tarun Khanna, Cynthia A. Montgomery, Michael E. Porter, Jan W. Rivkin, Michael G. Rukstad, John R. Wells and David B. Yoffie
It's great to have a blockbuster quarter or a revolutionary product or service, but true business excellence demands sustainability. Maintaining your competitive advantage requires a strategy that makes your business unique and carries you forward as the world around you changes. What makes a winning, sustainable strategy? Strategy: Building and Sustaining Competitive Advantage is a multimedia resource developed by ten faculty members in the Strategy Department at Harvard Business School. Included in this resource are faculty presentation, animated frameworks, print- and video-based case studies, and workbooks to help business leaders formulate action plans specific to their own companies.
Keywords: Competitive Advantage;
Citation: Anand, Bharat N., Stephen P. Bradley, Pankaj Ghemawat, Tarun Khanna, Cynthia A. Montgomery, Michael E. Porter, Jan W. Rivkin, Michael G. Rukstad, John R. Wells, and David B. Yoffie. " Strategy: Building and Sustaining Competitive Advantage." Harvard Business School Class Lecture 705-509, September 2008. (Revised from original June 2005 version.)
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Case
| HBS Case Collection
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2008
(Revised from original 2007 version)
HCL Technologies (A)
Linda A. Hill, Tarun Khanna and Emily Stecker
When Vineet Nayar became president of HCL Technologies, a global IT services business, in April 2005, he knew the company needed drastic change. Since its founding as a hardware company in the 1970s, HCL had grown into an enterprise with $3.7 billion in revenues and a market capitalization of $5.1 billion. The company had 41,000 employees in 11 countries, but it was ill-prepared for the increasingly competitive market. With the shift from hardware to software and services, HCL had slipped behind its Indian competitors and multinational companies. Details the first phase of the transformation Nayar led in hopes of rejuvenating the industry pioneer. The tagline for this phase was "Employee First, Customer Second."
Keywords: Customer Relationship Management;
Multinational Firms and Management;
Employee Relationship Management;
Leading Change;
Organizational Change and Adaptation;
Competition;
Information Technology Industry;
Service Industry;
India;
Citation: Hill, Linda A., Tarun Khanna, and Emily Stecker. " HCL Technologies (A)." Harvard Business School Case 408-004, July 2008. (Revised from original August 2007 version.)
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Supplement
| HBS Case Collection
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2008
(Revised from original 2007 version)
HCL Technologies (B)
Linda A. Hill, Tarun Khanna and Emily Stecker
Supplements the (A) case.
Citation: Hill, Linda A., Tarun Khanna, and Emily Stecker. " HCL Technologies (B)." Harvard Business School Supplement 408-006, July 2008. (Revised from original August 2007 version.)
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Case
| HBS Case Collection
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2008
(Revised from original 2007 version)
World Economic Forum (A)
Tarun Khanna, Rakesh Khurana and Forest L. Reinhardt
Covers strategy and leadership. World Economic Forum founder Klaus Schwab has created the world's most famous-and exclusive-global business conference, held annually in Davos, Switzerland, and backed by a formidable membership organization that includes many of the world's most prominent firms. He now must consider how to keep the event and the organization vibrant and valuable, as similar new organizations arise and as the challenges of globalization become more difficult. In the aspirational slogan of the Forum, Schwab remains "committed to improving the state of the world," and readers are invited to ponder how he can use the organization he has created to make good on this promise.
Keywords: Conferences;
Economics;
Globalization;
Leadership;
Social Enterprise;
Welfare or Wellbeing;
Strategy;
Davos;
Citation: Khanna, Tarun, Rakesh Khurana, and Forest L. Reinhardt. " World Economic Forum (A)." Harvard Business School Case 708-025, May 2008. (Revised from original October 2007 version.)
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Class Lecture
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2008
Billions of Entrepreneurs: The Yin and Yang of China and India (FSS)
Tarun Khanna
Two emerging nations, China and India, are on the move to wards economic development. They are entering the world economy on their own terms. China's model has received greater attention. India's is a diametrically different model-yin to China's yang-with different pros and cons. While China welcomes foreign capital, India nurtures its own indigenous entrepreneurs. While China has an efficient single-party state, sometimes compromising individual rights and freedoms, India cherishes the latter even at the expense of state dysfunction.
Keywords: Development Economics;
Entrepreneurship;
Growth and Development Strategy;
Emerging Markets;
Business and Government Relations;
China;
India;
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Teaching Note
| HBS Case Collection
|
2008
Microsoft in China and India, 1993-2007 (TN)
Tarun Khanna and Prithwiraj Choudhury
Teaching Note for [708444].
Keywords: China;
India;
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Case
| HBS Case Collection
|
2007
(Revised from original 2007 version)
Microsoft in China and India, 1993-2007
Tarun Khanna and Prithwiraj Choudhury
Relates to Microsoft's expansion in China and India in the period 1993-2007 and the strategic issues faced by multinationals in emerging markets.
Keywords: Expansion;
Multinational Firms and Management;
Information Technology;
Software;
Emerging Markets;
Information Technology Industry;
China;
India;
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Case
| HBS Case Collection
|
2007
(Revised from original 2007 version)
Bunge: Food, Fuel, and World Markets
Tarun Khanna, Santiago Mingo and Jonathan West
In 2007, Bunge, an agribusiness company, had over $26 billion in worldwide sales and was considered, along with Cargill and Archer Daniels Midland (ADM), one of three very integrated worldwide agribusiness companies. Headquartered in White Plains, NY, the company has traditionally possessed a strong presence in Brazil. Describes Bunge's tradeoff between efficiency of global operations and local responsiveness in an uncertain business environment. New world developments were effecting Bunge directly: high oil prices, a growing demand in emerging economies like China and India, and the possibility of agribusiness companies competing successfully in the production of biofuels. Bunge had traditionally followed an organizational model that was integrated but decentralized, trying to strike a balance between the efficiency of a global entity and the speed of local businesses. What would be the best strategy for Bunge to respond to the external changes imposed by high energy prices and increasing demand from emerging economies? How aggressively should Bunge invest in the rising biofuels markets?
Keywords: Globalized Firms and Management;
Operations;
Organizational Design;
Situation or Environment;
Strategy;
Agriculture and Agribusiness Industry;
White Plains;
Brazil;
Citation: Khanna, Tarun, Santiago Mingo, and Jonathan West. " Bunge: Food, Fuel, and World Markets." Harvard Business School Case 708-443, November 2007. (Revised from original September 2007 version.)
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Supplement
| HBS Case Collection
|
2007
Teva Pharmaceutical Industries, Ltd.
Tarun Khanna and Krishna G. Palepu
How do companies develop a strategy that is both low-cost and differentiated without becoming squeezed in the middle? Describes how Teva, Israel's largest and first multinational, achieved its globally dominant position in generic pharmaceuticals, an industry that has undergone significant change over the last 20 years. Examines Teva's strategies to defend itself against both low-cost competitors from India and other emerging markets as well as Big Pharma companies, which are adopting increasingly aggressive tactics in generics.
Keywords: Multinational Firms and Management;
Emerging Markets;
Rank and Position;
Competitive Strategy;
Pharmaceutical Industry;
Israel;
India;
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Case
| HBS Case Collection
|
2007
Blue River Capital
Krishna G. Palepu, Tarun Khanna and Richard Bullock
Examines the strategy and experience of Indian private equity firm Blue River Capital. Blue River was established in 2005 to invest primarily in middle market, particularly family-run, businesses in India. Blue River caters to this niche as an active investor, providing capital and working with portfolio companies to improve their corporate governance. Describes the challenges faced by Blue River in identifying investments, performing due diligence, and working with portfolio companies and asks how Blue River should build itself into a top-tier private equity fund, particularly as more and more foreign firms target the growing Indian market.
Keywords: Private Equity;
Investment Portfolio;
Corporate Governance;
Emerging Markets;
Family Ownership;
Competitive Strategy;
Financial Services Industry;
India;
Citation: Palepu, Krishna G., Tarun Khanna, and Richard Bullock. " Blue River Capital." Harvard Business School Case 708-448, October 2007.
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Case
| HBS Case Collection
|
2007
Metro International S.A.
Tarun Khanna, Felix Oberholzer-Gee, Vincent Marie Dessain, Ane Damgaard Jensen and Anders Sjoman
Explores the business model of Metro International, a company publishing 70 editions of its free newspaper in 20 countries. Metro had been a pioneer in the free newspaper market, fighting incumbent publishers distributing traditional paid-for newspapers. Looks at the decision facing top management of Metro International in 2007 regarding the future strategy of the company. The company had become profitable after years of losses, but other problems had surfaced; competition had increased heavily in many markets and advertising--the free newspapers only source of income--was quickly shifting from newspapers to the Internet. Spain was a particular case in point. What had Metro International learned from experiences elsewhere on the globe and would they allow the company to make the Spanish unit profitable? What strategy should the Spanish country manager adopt?
Keywords: Business Model;
Business Strategy;
Competitive Strategy;
Online Advertising;
Advertising;
Expansion;
Globalized Firms and Management;
Journalism and News Industry;
Spain;
Citation: Khanna, Tarun, Felix Oberholzer-Gee, Vincent Marie Dessain, Ane Damgaard Jensen, and Anders Sjoman. " Metro International S.A." Harvard Business School Case 708-429, September 2007.
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Case
| HBS Case Collection
|
2007
Tetra Pak Argentina
Tarun Khanna, Krishna G. Palepu and Gustavo A. Herrero
Deals with the hands-on management of a difficult situation facing the subsidiary of a multinational corporation (Tetra Pak) in a developing country (Argentina). The situation arises from a major economic, social, and institutional breakdown that jeopardizes the subsidiary's existence. Argentina defaulted on it sovereign debt and devalued the peso by over 200%, but it differentiated the treatment of the FX rate to be applied to various transactions, depending on the jurisdiction of creditors and debtors. Local dollar-denominated credits and liabilities were converted on a 1:1.40 ratio, while obligations held with foreign entities continued to be enforceable at the new rate of 1:3. The crisis led to the impoverishment of a large portion of the Argentine population, and to an institutional breakdown where the rule of law was shattered in the country, thus posing challenges not just related to the current situation, but also to the future of the operation. The crisis bore consequences for Tetra Pak Argentina on both ends of its value chain, involving suppliers and customers. Tetra Pak focuses its growth on developing nations where it feels there is room for a valuable business, and it attains leading market positions. Shows how the foreign firm must cope with difficult domestic situations where the levers of control are beyond its reach. The existence of value after the crisis turns out to be a relevant consideration.
Keywords: Developing Countries and Economies;
Financial Crisis;
Currency Exchange Rate;
Sovereign Finance;
Multinational Firms and Management;
Crisis Management;
Business and Government Relations;
Argentina;
Citation: Khanna, Tarun, Krishna G. Palepu, and Gustavo A. Herrero. " Tetra Pak Argentina." Harvard Business School Case 708-402, September 2007.
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Supplement
| HBS Case Collection
|
2007
Ravi Venkatesan, Chairman, Microsoft India
Tarun Khanna and Krishna G. Palepu
Ravi Venkatesan, chairman of Microsoft India, discusses market entry, localization, and intellectual property rights in emerging markets.
Keywords: Multinational Firms and Management;
Intellectual Property;
Emerging Markets;
Market Entry and Exit;
Information Technology Industry;
India;
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Background Note
| HBS Case Collection
|
2007
(Revised from original 2005 version)
Why Study Emerging Markets
Tarun Khanna, Krishna G. Palepu and Kjell Ke-Li Carlsson
Emerging markets have attracted considerable attention and are likely to become an increasingly important political and economic force. They represent an enormous opportunity for entrepreneurs, multinationals, and investors but also pose a threat for products, jobs, and resources. They have the potential to redefine the way business is done in many industries but remain shrouded by myths. Provides an overview of the importance of emerging markets. Discusses the opportunities in and threats posed by emerging markets. Shows how studying emerging markets can provide new insights into business conglomerates, industry profitability, and corporate governance and discusses common perceptions and misconceptions of emerging markets.
Keywords: Profit;
Multinational Firms and Management;
Corporate Governance;
Emerging Markets;
Problems and Challenges;
Opportunities;
Citation: Khanna, Tarun, Krishna G. Palepu, and Kjell Ke-Li Carlsson. " Why Study Emerging Markets." Harvard Business School Background Note 706-422, August 2007. (Revised from original August 2005 version.)
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Teaching Note
| HBS Case Collection
|
2007
Teva Pharmaceutical Industries, Ltd (TN)
Tarun Khanna and Krishna G. Palepu
Teaching note to 707441.
Keywords: Growth and Development Strategy;
Cost;
Competitive Strategy;
Adoption;
Emerging Markets;
Change;
Multinational Firms and Management;
Genetics;
Pharmaceutical Industry;
India;
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Supplement
| HBS Case Collection
|
2007
Joe Hogan, President & CEO, GE Healthcare
Tarun Khanna
Keywords: Management;
Health;
Health Industry;
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Case
| HBS Case Collection
|
2007
(Revised from original 2005 version)
Apollo Hospitals--First-World Health Care at Emerging-Market Prices
Felix Oberholzer-Gee, Tarun Khanna and Carin-Isabel Knoop
The Apollo Hospitals Group, one of Asia's premier health care organizations, had come to rival the best health care organizations on the globe. Apollo offered advanced medical procedures, such as cardiac surgery using the beating heart technique, at very high levels of quality but at a fraction of the cost of hospitals in the West. Apollo's managers must decide how best to capitalize on the group's remarkable medical capabilities. One option was to bet on global medical tourism by trying to attract patients from Asia and worldwide needing advanced medical procedures. Thailand had set the example for medical tourism and attracted more than one million patients a year, most of them undergoing plastic surgery. Another option Apollo considered was to build and manage hospitals abroad.
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Teaching Note
| HBS Case Collection
|
2007
General Electric Healthcare, 2006 (TN)
Tarun Khanna
Teaching note to 706478.
Keywords: Health Industry;
Medical Devices and Supplies Industry;
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Supplement
| HBS Case Collection
|
2007
Metro Cash & Carry
Tarun Khanna
Citation: Khanna, Tarun. " Metro Cash & Carry." Harvard Business School Video Supplement 707-812, June 2007.
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Case
| HBS Case Collection
|
2007
(Revised from original 2006 version)
General Electric Healthcare, 2006
Tarun Khanna and Elizabeth Raabe
In January 2006, Joe Hogan, head of General Electric (GE) Healthcare Technologies, prepared to step into William Castell's shoes as CEO of GE Healthcare, the world's leading manufacturer of diagnostic imaging equipment. In 2004, former CEO Jeff Immelt acquired Amersham for $10 billion. The acquisition was part of Immelt's GE-wide move to reemphasize research and development. Hogan had run GE Healthcare's predecessor organization, GE Medical Systems (GEMS). A 20-year GE veteran, Hogan witnessed three distinct stages of the subsidiary's development as it evolved from the Global Product Co. (GPC) to the modified GPC and then to GE Healthcare. By 2005, the company had a 34% market share of the worldwide diagnostic imaging equipment business. GE executives designed the acquisitions to catalyze the firm's move from an engineering and physics-based diagnostic company to a life sciences-based health care solutions company that could better meet worldwide health care needs. Hogan wondered: What challenges did GEMS' previous quantum leaps portend for this new step-function change?
Keywords: Corporate Entrepreneurship;
Cost vs Benefits;
Growth and Development Strategy;
Mergers and Acquisitions;
Machinery and Machining;
Global Range;
Multinational Firms and Management;
Product Design;
Technological Innovation;
Expansion;
Value Creation;
Business Subsidiaries;
Health Industry;
Medical Devices and Supplies Industry;
Citation: Khanna, Tarun, and Elizabeth Raabe. " General Electric Healthcare, 2006." Harvard Business School Case 706-478, April 2007. (Revised from original January 2006 version.)
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Case
| HBS Case Collection
|
2007
(Revised from original 2006 version)
Production I.G: Challenging the Status Quo
Andrei Hagiu, Tarun Khanna, Felix Oberholzer-Gee, Masako Egawa and Chisato Toyama
In July 2006, Mitsuhisa Ishikawa wondered how he could further enhance the success and visibility of his animation production company headquartered in Tokyo, Production I.G. For the year ended May 2006, Production I.G. had sales of 5,439 million yen ($47.3 million), operating profit of 404 million yen ($3.5 million), and 184 employees. Its recent film Innocence: Ghost in the Shell 2 competed at Cannes Film Festival in 2004, and the company had gone public in December 2005. These were no small accomplishments for a Japanese animation production company. Indeed, despite the global success of Japanese animation, the industry was fragmented with about 430 animation production companies and dominated by distributors--TV stations, movie distributors, DVD distributors and advertising agencies, which held the lion's share of content copyrights. Distributors controlled the funding and contracted the production out to animation production companies. As a result, most of the latter were small companies laboring in obscurity. As such, no Japanese animation production company came even close to the size of Walt Disney Co.: in 2005 Disney had revenues of $32 billion, whereas Toei Animation, the largest animation production company in Japan, had revenue of only 21 billion yen ($175 million). To Ishikawa's mind, one of the key decisions concerned the mix of the "contents garden" that his company should aspire to. Should he increase the share of animation productions based on manga (comics and print cartoons) relative to original-productions (i.e. animation stories created entirely by Production I.G.)?
Keywords: Business Growth and Maturation;
Competitive Advantage;
Markets;
Animation Entertainment;
Going Public;
Growth and Development Strategy;
Motion Pictures and Video Industry;
Tokyo;
Citation: Hagiu, Andrei, Tarun Khanna, Felix Oberholzer-Gee, Masako Egawa, and Chisato Toyama. " Production I.G: Challenging the Status Quo." Harvard Business School Case 707-454, March 2007. (Revised from original October 2006 version.)
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Case
| HBS Case Collection
|
2007
(Revised from original 2006 version)
Lifan Group - Automobile Production in China
Felix Oberholzer-Gee, Tarun Khanna and Elizabeth Raabe
Lifan Group, one of China's premier motorcycle companies, considers entering automobile production. The company plans to assemble a midsize sedan, hoping it will be able to sell this car to affluent families in China and to export it. Domestic demand for cars is growing rapidly in China, but car prices have been falling, at times quite dramatically. Allows analysis and discussion of Lifan's decision.
Keywords: Product Development;
Decision Making;
Demand and Consumers;
Price;
Auto Industry;
Manufacturing Industry;
China;
Citation: Oberholzer-Gee, Felix, Tarun Khanna, and Elizabeth Raabe. "Lifan Group - Automobile Production in China." Harvard Business School Case 707-443, March 2007. (Revised from original November 2006 version.)
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Course Overview Note
|
2007
Instructor's Guide to Globalization of Emerging Markets (GEM)
Tarun Khanna and Krishna G. Palepu
Outlines the conceptual approach, thematic focus, and course materials of Globalization of Emerging Markets, a second-year elective MBA course at Harvard Business School.
Keywords: Globalization;
Emerging Markets;
Curriculum and Courses;
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Case
| HBS Case Collection
|
2007
(Revised from original 2005 version)
Red Flag Software Co.
Felix Oberholzer-Gee, Tarun Khanna, David Lane and Elizabeth Raabe
In 2005, just five years after its formal launch, Beijing-based Red Flag Software was the world's second-largest distributor of the Linux operating system and was expecting its first annual profit. On a unit basis, Red Flag led the world in desktops (PCs) shipped with Linux and was No. 4 in installed servers. On a revenue basis, Red Flag was fourth overall. Within China, Red Flag held just over half of the Linux market and ran key applications for the postal system, large state-owned enterprises, and more than a million PCs. The Chinese government supported Linux as an alternative to Microsoft's Windows operating system to avoid royalty payments to foreign firms and dependence on foreign technology. Even so, Red Flag President Chris Zhao felt the same pressure many start-ups faced: How could Red Flag compete against a giant like Microsoft? And what competitive advantages could Zhao bring to bear against an experienced Linux veteran like Red Hat, a U.S.-based software company that had just announced its plan to invest to capture market share in China? Zhao worried that government support would evaporate if Red Flag performed poorly.
Keywords: Technology Platform;
Competitive Advantage;
Software;
Business Startups;
Globalized Markets and Industries;
Information Technology Industry;
Distribution Industry;
Beijing;
United States;
Citation: Oberholzer-Gee, Felix, Tarun Khanna, David Lane, and Elizabeth Raabe. " Red Flag Software Co." Harvard Business School Case 706-428, February 2007. (Revised from original October 2005 version.)
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Teaching Note
| HBS Case Collection
|
2007
(Revised from original 2007 version)
METRO Cash & Carry (TN)
Tarun Khanna and Krishna G. Palepu
Teaching note to 707505.
Citation: Khanna, Tarun, and Krishna G. Palepu. " METRO Cash & Carry (TN)." Harvard Business School Teaching Note 707-464, January 2007. (Revised from original January 2007 version.)
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Teaching Note
| HBS Case Collection
|
2012
(Revised from original 2007 version)
ICICI's Global Expansion (TN)
Tarun Khanna
Teaching Note to 706426.
Keywords: Banking Industry;
India;
Citation: Khanna, Tarun. " ICICI's Global Expansion (TN)." Harvard Business School Teaching Note 707-483, July 2012. (Revised from original January 2007 version.)
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Teaching Note
| HBS Case Collection
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2007
Bharti Tele-Ventures (TN)
Tarun Khanna and Krishna G. Palepu
Teaching note to 704426.
Keywords: Telecommunications Industry;
India;
Citation: Khanna, Tarun, and Krishna G. Palepu. " Bharti Tele-Ventures (TN)." Harvard Business School Teaching Note 707-467, January 2007.
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Supplement
| HBS Case Collection
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2006
Michael Jemal, CEO, Haier America--video
Tarun Khanna and Krishna G. Palepu
Keywords: Management;
Media;
Retail Industry;
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Teaching Note
| HBS Case Collection
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2006
HSBC Holdings (TN)
Tarun Khanna
Teaching Note to 705466.
Keywords: Banking Industry;
Citation: Khanna, Tarun. " HSBC Holdings (TN)." Harvard Business School Teaching Note 707-495, November 2006.
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Teaching Note
| HBS Case Collection
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2006
Haier: Taking a Chinese Company Global (TN)
Tarun Khanna and Krishna G. Palepu
Teaching Note to 706401.
Keywords: Electronics Industry;
Europe;
United States;
China;
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Case
| HBS Case Collection
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2006
(Revised from original 2005 version)
ICICI's Global Expansion
Tarun Khanna and Ramana Nanda
Follows the decision by ICICI (one of India's largest banks) to expand internationally in June 2001.
Keywords: Emerging Markets;
Global Strategy;
Banks and Banking;
Banking Industry;
India;
Citation: Khanna, Tarun, and Ramana Nanda. " ICICI's Global Expansion." Harvard Business School Case 706-426, September 2006. (Revised from original September 2005 version.)
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Teaching Note
| HBS Case Collection
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2006
TCL Multimedia (TN)
Tarun Khanna and Felix Oberholzer-Gee
Teaching Note for 705502.
Keywords: Electronics Industry;
China;
Citation: Khanna, Tarun, and Felix Oberholzer-Gee. " TCL Multimedia (TN)." Harvard Business School Teaching Note 707-440, September 2006.
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Case
| HBS Case Collection
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2006
(Revised from original 1998 version)
House of Tata, 1995: The Next Generation (A)
Tarun Khanna, Krishna G. Palepu and Danielle Melito Wu
The Tata Group began the 1990s as a confederation of loosely coupled firms. This case considers the rise to prominence of the new CEO of Tata Group, Ratan Tata, and his attempts to strengthen the inter-relationships among the group companies at a time when critics claim he should be dismantling the alliance completely. Provides an opportunity to address the benefits and costs of conglomerates in emerging markets. In particular, it demonstrates the ways in which well-run conglomerates might ameliorate the costs that poorly functioning institutions impose through their effects on market efficiency.
Keywords: Business or Company Management;
Business Conglomerates;
Organizations;
Corporate Strategy;
Consolidation;
Business Strategy;
Alignment;
Consumer Products Industry;
Service Industry;
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Case
| HBS Case Collection
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2006
(Revised from original 2003 version)
House of Tata-2000: The Next Generation (B)
Tarun Khanna, Krishna G. Palepu, Catherine M. Conneely and Kirsten O'Neil Massaro
Supplements the (A) case.
Keywords: Alliances;
Business Conglomerates;
Emerging Markets;
Cost;
Management Teams;
India;
Citation: Khanna, Tarun, Krishna G. Palepu, Catherine M. Conneely, and Kirsten O'Neil Massaro. " House of Tata-2000: The Next Generation (B)." Harvard Business School Case 704-408, August 2006. (Revised from original July 2003 version.)
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Case
| HBS Case Collection
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2006
(Revised from original 2005 version)
Haier: Taking a Chinese Company Global
Krishna G. Palepu, Tarun Khanna and Ingrid Vargas
In 2005, Haier, China's leading appliance manufacturer, had over $12 billion in worldwide sales and was the third-ranked global appliance brand behind Whirlpool and GE. Describes Haier's rise from a defunct refrigerator factory in China's Qingdao province to an international player with nearly $4 billion in overseas sales. Haier had followed a nontraditional expansion strategy of entering the developed markets of Europe and the United States as a niche player before venturing into neighboring Asian markets. Facing intense competition and price wars in the domestic market, in 2005 Haier was redoubling its efforts to build a globally recognized brand. Could Haier complete with the likes of Whirlpool and GE in their home market? Could Haier successfully defend against Chinese and multinational challengers in China while building a brand overseas?
Keywords: Global Strategy;
Brands and Branding;
Manufacturing Industry;
Consumer Products Industry;
China;
Citation: Palepu, Krishna G., Tarun Khanna, and Ingrid Vargas. " Haier: Taking a Chinese Company Global." Harvard Business School Case 706-401, August 2006. (Revised from original October 2005 version.)
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Case
| HBS Case Collection
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2006
(Revised from original 2005 version)
HSBC Holdings
Tarun Khanna and David Lane
Illustrates the challenges of managing a global business enterprise. A rewritten version of an earlier case.
Citation: Khanna, Tarun, and David Lane. " HSBC Holdings." Harvard Business School Case 705-466, June 2006. (Revised from original January 2005 version.)
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Case
| HBS Case Collection
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2006
(Revised from original 2004 version)
Yamato Transport: Valuing and Pricing Network Services (A)
Felix Oberholzer-Gee, Tarun Khanna and Masako Egawa
Yamato Transport is the leading Japanese parcel delivery company and has dominated its industry for more than two decades. In response to new competitive challenges, Yamato must decide how to reposition itself in the industry and optimize the size of its network. The recently corporatized Japan Post is the only company that can deliver personal mail
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Supplement
| HBS Case Collection
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2006
(Revised from original 2004 version)
Yamato Transport: Valuing and Pricing Network Services (B)
Felix Oberholzer-Gee, Tarun Khanna and Masako Egawa
Supplements the (A) case.
Keywords: Transportation Networks;
Value;
Price;
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Supplement
| HBS Case Collection
|
2006
HSBC: The Household Acquisition
Tarun Khanna and David Lane
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Case
| HBS Case Collection
|
2006
(Revised from original 2005 version)
TCL Multimedia
Tarun Khanna, Felix Oberholzer-Gee and David Lane
TCL considers the underlying logic behind the globalization of one of China's most prominent companies. TCL, and similarly prominent companies in China, are in the forefront of China's emergence as one of the world's preeminent economic powers. Allows a discussion of how TCL's approach to globalization compares with those of other Chinese companies and those of companies from other developing countries. A rewritten version of an earlier case.
Keywords: Globalized Firms and Management;
Success;
Business Strategy;
Developing Countries and Economies;
China;
Citation: Khanna, Tarun, Felix Oberholzer-Gee, and David Lane. " TCL Multimedia." Harvard Business School Case 705-502, February 2006. (Revised from original June 2005 version.)
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Teaching Note
| HBS Case Collection
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2005
(Revised from original 1995 version)
Microsoft in the People's Republic of China, 1993 & 2005 Update (TN)
Tarun Khanna
Teaching Note for (9-795-115) and (9-797-107).
Keywords: Information Technology Industry;
China;
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Case
| HBS Case Collection
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2005
(Revised from original 2002 version)
General Electric Medical Systems 2002
Tarun Khanna and James Weber
Discusses one of General Electric's flagship divisions--the world's leading provider of medical diagnostic imaging equipment. Provides an opportunity to examine a multinational confronting massive technological and demographic changes around the world. Genomics has created a global opportunity by making personalized medicine seem possible--medical intervention that caters to the genetic makeup of the individual and emphasizes prevention more than cure. Yet, the pursuit of this opportunity requires fundamental changes in the business model at a time when the model is being stressed by the idiosyncratic needs of catering to the large Chinese market and adapting to the needs of an aging population around the world. Demonstrates how multinationals can create value both by replicating their business models worldwide and by adroitly splitting the value chain across national boundaries.
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Supplement
| HBS Case Collection
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2005
(Revised from original 2005 version)
Microsoft in the People's Republic of China: 2005 Update
Tarun Khanna and Elizabeth Raabe
Keywords: Information Technology Industry;
China;
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Case
| HBS Case Collection
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2005
(Revised from original 2005 version)
Agora SA
Tarun Khanna, Krishna G. Palepu, Vincent Dessain and Monika Stachowiak
Tells the story of Agora, the largest media company in Poland, describing its corporate strategy of diversification since its founding in 1989 by entrepreneurial journalists closely linked to the anti-communist movement Solidarity. Describes in detail Gazeta Wyborcza, the country's best-selling daily newspaper and Agora's main revenue contributor. In late 2003, Fakt, the new daily owned by a German publishing house, took the lead on the Polish newspaper market, harming Gazeta Wyborcza's sales and advertising revenues. Places students in the position of Wanda Rapaczynski, Agora's CEO, who, in mid-2005, explores ways to improve Agora's position in an increasingly competitive environment.
Keywords: Diversification;
Competition;
Media;
Corporate Strategy;
Emerging Markets;
Journalism and News Industry;
Media and Broadcasting Industry;
Germany;
Poland;
Citation: Khanna, Tarun, Krishna G. Palepu, Vincent Dessain, and Monika Stachowiak. " Agora SA." Harvard Business School Case 706-425, October 2005. (Revised from original September 2005 version.)
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Background Note
| HBS Case Collection
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2005
Portfolio Investment in Emerging Markets
Tarun Khanna, Krishna G. Palepu and Kjell Ke-Li Carlsson
Provides distinctive data on investment flows into emerging markets.
Keywords: Emerging Markets;
Investment;
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Case
| HBS Case Collection
|
2005
(Revised from original 2002 version)
Emerging Giants: Building World-Class Companies in Emerging Markets
Tarun Khanna and Krishna G. Palepu
Presents a conceptual framework to examine successful companies in emerging markets and what enables them to avoid traditional emerging market obstacles. Examines those characteristics that allow these successful local companies to overcome market voids and become globally competitive.
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Background Note
| HBS Case Collection
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2005
(Revised from original 2005 version)
Spotting Institutional Voids in Emerging Markets
Tarun Khanna and Krishna G. Palepu
With the demise of communism, many countries in the world are striving to build their economic activity around markets and to participate in free trade arrangements, such as the World Trade Organization (WTO), European Union (EU), and North American Free Trade Agreement (NAFTA). Addresses several issues critical to understanding the unique nature of emerging markets relative to their more mature counterparts. What is the fundamental challenge in building well-functioning markets? On which sets of institutions do advanced markets rely to resolve these challenges? What makes building these institutions complex? What happens when some of these institutions are either absent or underdeveloped in an economy? How does one spot these institutional voids?
Keywords: Emerging Markets;
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Case
| HBS Case Collection
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2005
Harvard Business School and the Making of a New Profession
Rakesh Khurana, Tarun Khanna and Daniel Penrice
Since its founding in 1908, Harvard Business School's mission has been to perform a much-needed service for American society by turning business management into a profession. One of the most important factors in the founding of HBS and the nation's other new business schools was the demand for managers created by the rise of the modern business corporation in the late 19th and early 20th centuries. Additionally, in the years just after the turn of the century business careers were becoming increasingly attractive to young men who would have previously entered one of the older, more traditional professions: law, medicine, education, and the ministry. The process of formulating "business principles" that would put the study of management on a scientific basis was a crucial part of what the founders had set out to achieve in creating the HBS curriculum and building a faculty. By discovering business principles, HBS would also help lay the foundation of the new profession of business. The HBS founders also believed there was another dimension to professionalism in business--one that involved not just the expertise that students acquired but also the attitudes they held and their contribution to society.
Keywords: Business Education;
Mission and Purpose;
Alignment;
Social Issues;
Practice;
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Background Note
| HBS Case Collection
|
2005
(Revised from original 2004 version)
Math for Strategists
Tarun Khanna and Jan W. Rivkin
Great strategists rely heavily on numbers as they go about their work. Offers an overview of the high- and low-brow quantitative tools that students encounter during the Strategy course. The class explores high-brow tools in detail; the focus here is on low-brow calculations. Such calculations come up often in class but because they seem so simple, they get little airtime or explanation. From past class experience, roughly 20% of the students in each section come into the course with the intuition and experience to do these simple calculations themselves. The other 80% understand the calculations after they see them and grasp their value, but don't spot the opportunities to do the math themselves, before class.
Keywords: Mathematical Methods;
Strategy;
Citation: Khanna, Tarun, and Jan W. Rivkin. " Math for Strategists." Harvard Business School Background Note 705-433, April 2005. (Revised from original November 2004 version.)
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Case
| HBS Case Collection
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2005
Mahindra & Mahindra: Creating Scorpio
Tarun Khanna, Rajiv Lal and Merlina Manocaran
Details the emergence of a private sector automobile manufacturer in India that has created globally competitive and cheap versions of an SUV commonly available worldwide. Asks us to think about the parent corporation's next steps in leveraging this success. In particular: To what extent does it make sense to expand overseas vs. entrenching itself within the home market--India?
Keywords: Developing Countries and Economies;
Global Range;
Multinational Firms and Management;
Emerging Markets;
Commercialization;
Expansion;
Auto Industry;
India;
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Case
| HBS Case Collection
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2005
Nomura Holdings
Tarun Khanna, Masako Egawa and Atsuko Nakajima
Nomura Holdings, Japan's largest investment bank, faced with intensifying competition in the global financial markets, was trying to decide how global its operations should be despite its Japan-centered business. Was the question of how global Nomura should be related to its choice of governance structure? Was the committee system adopted by Nomura the appropriate governance model for all leading Japanese companies?
Keywords: Global Range;
Corporate Governance;
Governing Rules, Regulations, and Reforms;
Corporate Strategy;
Financial Services Industry;
Japan;
Citation: Khanna, Tarun, Masako Egawa, and Atsuko Nakajima. " Nomura Holdings." Harvard Business School Case 705-427, February 2005.
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Class Lecture
| 2005
Scope and Global Strategy
Tarun Khanna
Keywords: Global Strategy;
Citation: Khanna, Tarun. " Scope and Global Strategy." Boston: Harvard Business School Publishing Class Lecture, 2005. Electronic. (Faculty Lecture: HBSP Product Number 1576C.)
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Case
| HBS Case Collection
|
2004
(Revised from original 2004 version)
Globe Telecom
Tarun Khanna, Krishna G. Palepu and Ingrid Vargas
The Ayala Group, one of the oldest and largest Filipino business groups, partnered with Singapore Telecommunications (SingTel) to launch a telecom venture following industry deregulation in the Philippines. The partners must decide whether to continue the venture in light of current poor performance but significant future potential. Addresses the complexity of newly deregulated industries, financing in emerging markets, and the role of business groups in economic development. A rewritten version of an earlier case.
Citation: Khanna, Tarun, Krishna G. Palepu, and Ingrid Vargas. " Globe Telecom." Harvard Business School Case 704-505, October 2004. (Revised from original May 2004 version.)
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Case
| HBS Case Collection
|
2004
(Revised from original 2002 version)
Globalization of HBS, The
Tarun Khanna, Rakesh Khurana and David Lane
Sets the stage for a discussion on the globalization of the MBA degree and variations on the idea that Harvard Business School (HBS) can play a role in shaping business education around the world. Describes the forces leading to greater convergence around the MBA degree as an important indicator of managerial competence and HBS's response to these forces. Provides background information on the globalization of the MBA degree, a history of the founding of the school, a history of various HBS international initiatives over the past 75 years, and the current challenges perceived by HBS administration in responding effectively to the forces of globalization.
Citation: Khanna, Tarun, Rakesh Khurana, and David Lane. " Globalization of HBS, The." Harvard Business School Case 703-432, August 2004. (Revised from original November 2002 version.)
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Case
| HBS Case Collection
|
2004
(Revised from original 2003 version)
Bharti Tele-Ventures
Tarun Khanna, Krishna G. Palepu and Ingrid Vargas
Following the liberalization of India's telecommunications service industry in the early 1990s, Bharti Tele-Ventures grew from a small entrepreneurial telephone equipment importer and manufacturer to become India's largest private-sector telecommunications service group in terms of numbers of customers. Attracting over $1.2 billion in foreign equity investments, more than any other Indian telecom firm, by 2001 Bharti had achieved the country's leading market position in mobile telecom service. By 2003, however, the nature of the game had changed. A spate of mergers and acquisitions had reduced the field to the most successful and best-financed contenders. At the same time, telecommunications regulatory changes let in new, lower priced competitors, significantly altering the rules of the game. Suddenly, in addition to government-owned BSNL and the stately Tata Group, India's oldest business house, Bharti was up against Reliance, the largest and most profitable of a new generation of business groups. Bharti's management and equity partners at Mittal and his partners at SingTel and Warburg Pincus had to determine what to do next.
Keywords: Private Sector;
Growth and Development;
Customers;
Foreign Direct Investment;
Mergers and Acquisitions;
Competition;
Public Ownership;
Profit;
Partners and Partnerships;
Rank and Position;
Telecommunications Industry;
India;
Citation: Khanna, Tarun, Krishna G. Palepu, and Ingrid Vargas. " Bharti Tele-Ventures." Harvard Business School Case 704-426, March 2004. (Revised from original September 2003 version.)
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Teaching Note
| HBS Case Collection
|
2004
(Revised from original 2002 version)
Argentina's Financial System: The Case of Banco de Galicia TN
Rafael M. Di Tella, Tarun Khanna, Huw R. Pill and Ingrid Vogel
Teaching Note for (9-702-033).
Keywords: Banking Industry;
Argentina;
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Background Note
| HBS Case Collection
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2003
(Revised from original 2003 version)
Diasporas: Causes and Effects
Tarun Khanna and Paula Campbell
Articulates a simple supply-demand framework to understand why people immigrate and focuses attention on the specialized cross-border intermediaries that facilitate such movement. Analyzes a series of important effects, primarily economic, of the diaspora communities that result from immigration over time and, again, focuses attention on the cross-border intermediaries that facilitate the realization of these economic effects.
Keywords: Talent and Talent Management;
Diasporas;
Economics;
Framework;
Cross-Cultural and Cross-Border Issues;
Business or Company Management;
Citation: Khanna, Tarun, and Paula Campbell. " Diasporas: Causes and Effects." Harvard Business School Background Note 703-510, October 2003. (Revised from original April 2003 version.)
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Teaching Note
| HBS Case Collection
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2003
Competition in Japanese Financial Markets-2002; Competition in Japanese Financial Markets-2002 (Abridged); Morgan Stanley Japan-2002 (TN)
Tarun Khanna
Teaching Note to (9-702-455), (9-703-407), and (9-702-458).
Keywords: Japan;
United States;
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Background Note
| HBS Case Collection
|
2003
(Revised from original 2002 version)
Multinationals as Global Intermediaries
Tarun Khanna and Krishna G. Palepu
Presents a conceptual framework of the circumstances when multinationals attempt to create, or face difficulty creating, value in cross-border commerce. Particular attention is paid to the role of multinationals as intermediaries in international transactions where the existence of traditional market intermediaries is absent.
Keywords: Framework;
Cross-Cultural and Cross-Border Issues;
Multinational Firms and Management;
Marketing Channels;
Market Transactions;
Value Creation;
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Case
| HBS Case Collection
|
2003
(Revised from original 2002 version)
NYSE vs. NASDAQ: International Competition
Estelle S. Cantillon and Tarun Khanna
Compares and contrasts the international strategies of the New York Stock Exchange and NASDAQ as they looked overseas for new sources of growth in the late 1990s.
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Case
| HBS Case Collection
|
2003
(Revised from original 2002 version)
Formula One Motor Racing
Tarun Khanna, Kartik Varma and David Lane
Documents the entrepreneurial efforts of a single individual to bring together car and engine manufacturers, local circuit owners and promoters, advertisers, drivers, and fans in the creation of one of the biggest markets for world sports.
Citation: Khanna, Tarun, Kartik Varma, and David Lane. " Formula One Motor Racing." Harvard Business School Case 703-412, June 2003. (Revised from original September 2002 version.)
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Teaching Note
| HBS Case Collection
|
2003
(Revised from original 2002 version)
General Electric Medical Systems (TN)
Tarun Khanna
Teaching Note for (9-702-428).
Keywords: Medical Devices and Supplies Industry;
China;
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Supplement
| HBS Case Collection
|
2003
General Electric Medical Systems
Tarun Khanna
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Supplement
| HBS Case Collection
|
2003
Morgan Stanley Japan - Eric Best
Tarun Khanna
Eric Best, managing director of Morgan Stanley, lectures on markets.
Keywords: Markets;
Financial Services Industry;
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Teaching Note
| HBS Case Collection
|
2003
(Revised from original 2003 version)
Formula One Motor Racing (TN)
Tarun Khanna
Teaching Note for (9-703-412).
Citation: Khanna, Tarun. " Formula One Motor Racing (TN)." Harvard Business School Teaching Note 703-514, April 2003. (Revised from original April 2003 version.)
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Case
| HBS Case Collection
|
2003
(Revised from original 2002 version)
New York Stock Exchange versus NASDAQ, The
Estelle S. Cantillon and Tarun Khanna
Reviews the competition between stock markets, specifically the New York Stock Exchange and NASDAQ, as it plays out both in the United States and internationally. The competition between the two exchanges is interesting because of technological developments and the globalization of capital markets.
Keywords: Capital Markets;
Globalization;
Strategy;
Competition;
United States;
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Case
| HBS Case Collection
|
2003
(Revised from original 2002 version)
Argentina's Financial System: The Case of Banco de Galicia
Rafael M. Di Tella, Tarun Khanna, Huw R. Pill, Alexandra de Royere and Ingrid Vogel
Describes the development of Argentina's financial system after the "Tequila Crisis" that came about as a result of the speculative attack on the Mexican peso's peg to the U.S. dollar in December 1994. Although Argentina's banking system was strengthened overall due to changes implemented to address the crisis, most of the country's domestic private banks were either taken over by foreign banks or failed. Focuses on how in the year 2000, in an effort to remain Argentine owned, the last remaining large domestic private bank adopts a share offer considered by some--particularly a vocal member of one of the bank's controlling families--to be unfair to minority shareholders.
Keywords: Finance;
Emerging Markets;
Macroeconomics;
Business Strategy;
Banks and Banking;
Financial Crisis;
Family Business;
Acquisition;
Banking Industry;
Argentina;
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Case
| HBS Case Collection
|
2003
(Revised from original 2000 version)
Must Zee TV
Bharat N. Anand and Tarun Khanna
Explores issues related to (1) the vertical boundaries of the firm in an emerging-economy context, especially the effects of lack of intellectual property rights and lack of contract enforcement on both industry structure and boundaries of the firm; and (2) the extent to which strategy and organizational structure must be localized to the country context, as illustrated by considering competition between multinationals and domestic firms and the sustainability of their respective positions.
Keywords: Corporate Strategy;
Multinational Firms and Management;
Developing Countries and Economies;
Copyright;
Media and Broadcasting Industry;
Entertainment and Recreation Industry;
Citation: Anand, Bharat N., and Tarun Khanna. " Must Zee TV." Harvard Business School Case 700-122, February 2003. (Revised from original June 2000 version.)
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Teaching Note
| HBS Case Collection
|
2002
Strategy in Emerging Markets (TN)
Tarun Khanna
Provides an overview of several cases on multinational and local companies (including business groups) operating in settings in Asia, Africa, Latin America, and worldwide. Also provides a conceptual framework for thinking about these cases and links to related academic literature.
Keywords: Framework;
Global Range;
Local Range;
Globalized Firms and Management;
Body of Literature;
Emerging Markets;
Africa;
Asia;
Latin America;
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Case
| HBS Case Collection
|
2002
(Revised from original 2002 version)
Competition in Japanese Financial Markets, 2002
Tarun Khanna and Louis P. DiLorenzo, Jr
In early 2002, Japan, the world's largest economy, had been mired in a decade-long recession. A range of stimulus packages had failed to work their magic. The "Big Bang" financial deregulation reforms announced in 1998 had not quite produced the economic boom that the government had anticipated. Japan struggled to find its place in the increasingly global 21st century. Japan's commercial banks, once the largest in the world, struggled under the weight of their nonperforming loans. Japan's investment banks--the likes of Nomura--remained powerful behemoths. But they had scaled back their global ambitions and were in danger of being eclipsed in their own backyard by a range of foreign financial intermediaries. Meanwhile, the terrorist attack on the United States on September 11, 2001, accelerated a U.S. economic recession and raised the level of uncertainty in the global business environment across the board. It also contributed to the global investment banking industry's worst slowdown since the 1970s, with large firms recording worldwide slumps in revenues and profits of between 40% and 50%.
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Case
| HBS Case Collection
|
2002
(Revised from original 2002 version)
Competition in Japanese Financial Markets, 2002 (Abridged)
Tarun Khanna
In early 2002, Japan, the world's largest economy, had been mired in a decade-long recession. A range of stimulus packages had failed to work their magic. The "Big Bang" financial deregulation reforms announced in 1998 had not quite produced the economic boom that the government had anticipated. Japan struggled to find its place in the increasingly global 21st century. Japan's commercial banks, once the largest in the world, struggled under the weight of their nonperforming loans. Japan's investment banks--the likes of Nomura--remained powerful behemoths. But they had scaled back their global ambitions and were in danger of being eclipsed in their own backyard by a range of foreign financial intermediaries. Meanwhile, the terrorist attack on the United States on September 11, 2001, accelerated a U.S. economic recession and raised the level of uncertainty in the global business environment across the board. It also contributed to the global investment banking industry's worst slowdown since the 1970s, with large firms recording worldwide slumps in revenues and profits of between 40% and 50%.
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Case
| HBS Case Collection
|
2002
(Revised from original 2002 version)
Nomura Securities, 2002
Tarun Khanna and David Lane
In 2002, Nomura, though long the market leader in Japan, lacked global presence and was beset at home by strengthened local competitors, Wall Street firms that were taking the best deals, outdated systems, controls, and staff skills. Was Nomura still a player to fear? Could it be?
Citation: Khanna, Tarun, and David Lane. " Nomura Securities, 2002." Harvard Business School Case 703-402, August 2002. (Revised from original July 2002 version.)
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Background Note
| HBS Case Collection
|
2002
Local Institutions and Global Strategy
Tarun Khanna
Explores how location affects a firm's strategy and identifies the different ways location affects industry structure, choice of a firm's position, and the sustainability of that position. The intellectual foundations lie in an appreciation of institutional economics. Specifically, the starting premise is that specialized intermediaries resolve transaction costs between potential buyers and sellers and help make mutually advantageous deals occur. The absence of such specialized intermediaries gives rise to the institutional voids. Specifies how such voids constrain companies' choices. Specific questions addressed are (1) What are global industries? (2) What constitutes a global strategy? (3) When and how should strategy be tailored to particular locations? and, (4) How sustainable are strategies predicated on the existence of institutional voids?
Keywords: Global Range;
Global Strategy;
Product Positioning;
Market Transactions;
Industry Structures;
Negotiation Deal;
Organizational Design;
Outcome or Result;
Strategic Planning;
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Case
| HBS Case Collection
|
2002
(Revised from original 2002 version)
Morgan Stanley Japan, 2002
Tarun Khanna and Louis P. DiLorenzo, Jr
Thierry Porte, president of Morgan Stanley Japan, had spent the brisk November day in Tokyo with Eric Best, Morgan Stanley's head of scenario planning, outlining the exercise that all of the managing directors in Japan would participate in shortly. Japan remained mired in a recession and frustratingly unresponsive to attempts to stimulate economic activity. The U.S.-led worldwide economic slowdown, partly triggered by the post-September 2001 war against terrorism, complicated the situation and contributed to tough times within the investment banking industry. Porte had been at the helm of the Tokyo office since 1995 and had grown it to a revenue base of $1.2 billion and 1,500 employees--a point where it made a healthy contribution to the firm's bottom line and was its second target non-U.S. office (after London). He contemplated whether this was the time to invest further in Japan, to maintain course, or to actively steer resources out of Japan. Includes color exhibits.
Keywords: Planning;
Economic Slowdown and Stagnation;
Investment Banking;
Multinational Firms and Management;
Banking Industry;
Financial Services Industry;
Japan;
United States;
Citation: Khanna, Tarun, and Louis P. DiLorenzo, Jr. " Morgan Stanley Japan, 2002." Harvard Business School Case 702-458, February 2002. (Revised from original February 2002 version.)
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Supplement
| HBS Case Collection
|
2001
Mike Levett, CEO Old Mutual
Tarun Khanna
Discusses issues related to the transformation of Old Mutual from a mutual company to a stock corporation, and from a South African insurer to a global financial institution. Emphasis is on understanding effects of South African institutional context.
Keywords: Financial Institutions;
Organizational Change and Adaptation;
Globalized Firms and Management;
Financial Services Industry;
South Africa;
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Supplement
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2001
Korea Stock Exchange
Tarun Khanna
Features a presentation by In-Kie Hong of Korea Stock Exchange discussing the depth of the crisis, its origin, and its possible resolution in the end. In-Kie Hong addresses a class of MBA students at the Harvard Business School.
Keywords: Financial Crisis;
Financial Markets;
Stocks;
Financial Services Industry;
Korean Peninsula;
Citation: Khanna, Tarun. " Korea Stock Exchange." Harvard Business School Video Supplement 701-806, May 2001.
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Supplement
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2001
Asian Strategies: Ian Buchanan
Tarun Khanna
Ian Buchanan, senior VP of Booz-Allen & Hamilton, comments on Sime Darby and the Asian financial crisis. He also discusses the value propositions of different types of business groups in Malaysia.
Keywords: Financial Crisis;
Growth and Development Strategy;
Industry Structures;
Strategy;
Competition;
Competitive Strategy;
Consulting Industry;
Service Industry;
Asia;
Malaysia;
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Supplement
| HBS Case Collection
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2001
Russell Reynolds Associates
Tarun Khanna
Features a presentation by Managing Directors Peter Drummond-Hay and Steve Scroggins of Russell Reynolds, to a class of MBA students at the Harvard Business School about the challenges of developing institutions of management and the labor market.
Keywords: Management;
Labor;
Markets;
Problems and Challenges;
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Supplement
| HBS Case Collection
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2001
(Revised from original 1997 version)
Microsoft in the People's Republic of China: 1998 Update
Tarun Khanna and Danielle J. Melito
Provides an update to Microsoft in the People's Republic of China--1993.
Keywords: Software;
Globalized Markets and Industries;
Information Technology Industry;
China;
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 1997 version)
RPG Enterprises--1995 & Modern India, Teaching Note
Tarun Khanna
Teaching Note for (9-797-106) and (9-797-108).
Keywords: India;
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 1997 version)
Sime Darby Berhad (A), (B), and (C) Teaching Note
Tarun Khanna
Teaching Note for (9-797-017), (9-701-117), and (9-701-118).
Keywords: Financial Crisis;
Multinational Firms and Management;
Malaysia;
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 2001 version)
Old Mutual TN
Tarun Khanna
Teaching Note for (9-701-026).
Keywords: Financial Services Industry;
Banking Industry;
South Africa;
Citation: Khanna, Tarun. " Old Mutual TN." Harvard Business School Teaching Note 701-072, March 2001. (Revised from original March 2001 version.)
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 2000 version)
House of Tata, 1995: The Next Generation (A) TN
Tarun Khanna, Krishna G. Palepu and Catherine M. Conneely
Teaching Note for (9-798-037).
Keywords: Consumer Products Industry;
Service Industry;
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 2000 version)
Empresas CAP, 1994 TN
Tarun Khanna
Teaching Note for (9-798-053).
Keywords: Steel Industry;
Citation: Khanna, Tarun. " Empresas CAP, 1994 TN." Harvard Business School Teaching Note 701-038, March 2001. (Revised from original September 2000 version.)
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Case
| HBS Case Collection
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2001
(Revised from original 1996 version)
Sime Darby Berhad (A): 1995
Tarun Khanna, Michael Y. Yoshino and Danielle J. Melito
Sime Darby is one of South Asia's largest regional conglomerates. In 1995, it is contemplating entry into the fast-growing financial services sector in Malaysia through the acquisition of a Malaysian bank. This is in keeping with its activities mirroring those of the Malaysian economy. The case discusses whether to proceed with the acquisition. Exposes the underlying sources of value creation of the conglomerate in the institutional context, which affect the costs and benefits of broad corporate scope, especially the evolving capital market and the tight interrelationship between business and politics.
Keywords: Acquisition;
Business Conglomerates;
Economy;
Capital Markets;
Emerging Markets;
Business and Government Relations;
Corporate Strategy;
Value Creation;
Financial Services Industry;
Malaysia;
Citation: Khanna, Tarun, Michael Y. Yoshino, and Danielle J. Melito. " Sime Darby Berhad (A): 1995." Harvard Business School Case 797-017, March 2001. (Revised from original November 1996 version.)
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Case
| HBS Case Collection
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2001
(Revised from original 1998 version)
Korea Stock Exchange, 1998
Tarun Khanna, Krishna G. Palepu and James Chang
Following a major financial crisis, the South Korean government attempted to revive the Korea Stock Exchange to spur equity investment in Korean companies. This case describes the reforms undertaken so far and the challenges that lay ahead.
Keywords: Equity;
Stocks;
Restructuring;
Emerging Markets;
Corporate Governance;
Business and Government Relations;
Accounting Industry;
Financial Services Industry;
South Korea;
Citation: Khanna, Tarun, Krishna G. Palepu, and James Chang. " Korea Stock Exchange, 1998." Harvard Business School Case 199-033, March 2001. (Revised from original December 1998 version.)
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Teaching Note
| HBS Case Collection
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2001
(Revised from original 2000 version)
Korea Stock Exchange 1998 TN
Tarun Khanna and Krishna G. Palepu
Teaching Note for (9-199-033).
Keywords: Accounting Industry;
Financial Services Industry;
South Korea;
Citation: Khanna, Tarun, and Krishna G. Palepu. " Korea Stock Exchange 1998 TN." Harvard Business School Teaching Note 101-002, March 2001. (Revised from original September 2000 version.)
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Teaching Note
| HBS Case Collection
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2001
Russell Reynolds Associates, 1999 TN
Tarun Khanna
Teaching Note for (9-100-039).
Keywords: Consulting Industry;
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Case
| HBS Case Collection
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2001
Sime Darby Berhad (B): The Asian Crisis Begins
Tarun Khanna and Danielle Melito Wu
Supplements the (A) case.
Keywords: Acquisition;
Business Conglomerates;
Economy;
Capital Markets;
Emerging Markets;
Business and Government Relations;
Corporate Strategy;
Value Creation;
Financial Services Industry;
Malaysia;
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Case
| HBS Case Collection
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2001
Sime Darby Berhad (C): Responding to the Asian Crisis
Tarun Khanna and Danielle Melito Wu
Supplements the (A) case.
Keywords: Acquisition;
Business Conglomerates;
Economy;
Capital Markets;
Emerging Markets;
Business and Government Relations;
Corporate Strategy;
Value Creation;
Financial Services Industry;
Malaysia;
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Case
| HBS Case Collection
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2001
(Revised from original 1999 version)
Russell Reynolds Associates, 1999
Tarun Khanna, Krishna G. Palepu and Rakesh Khurana
The president and CEO of Russell Reynolds examined the company's expansion strategy, especially in emerging markets. He evalulates how quickly the company should open new offices abroad and in which countries.
Keywords: Global Strategy;
Growth and Development Strategy;
Emerging Markets;
Expansion;
Consulting Industry;
Citation: Khanna, Tarun, Krishna G. Palepu, and Rakesh Khurana. " Russell Reynolds Associates, 1999." Harvard Business School Case 100-039, March 2001. (Revised from original November 1999 version.)
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Case
| HBS Case Collection
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2001
(Revised from original 2000 version)
Old Mutual
Tarun Khanna, Krishna G. Palepu and Kirsty O'Neil-Massaro
Designed to explore the demutualization and listing overseas of one of Africa's largest financial institutions, Old Mutual, and the effects that these actions have on South Africa's domestic capital markets. Explores the particular difficulties that arise as a result of having to educate the historically disenfranchised part of South Africa's population about the change in organizational structure (from a mutual organization to a publicly owned corporate entity), capital markets, and globalization. The emphasis is on understanding the interaction between institutional context and corporate strategy. Includes color exhibits.
Keywords: Financial Institutions;
Growth and Development Strategy;
Organizational Structure;
Global Strategy;
Corporate Strategy;
Capital Markets;
Corporate Social Responsibility and Impact;
Business Education;
Financial Strategy;
Business or Company Management;
Financial Services Industry;
Banking Industry;
South Africa;
Citation: Khanna, Tarun, Krishna G. Palepu, and Kirsty O'Neil-Massaro. " Old Mutual." Harvard Business School Case 701-026, March 2001. (Revised from original September 2000 version.)
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Background Note
| HBS Case Collection
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2000
Market Failures
Bharat N. Anand, Tarun Khanna and Jan W. Rivkin
Examines the role of transaction costs in impeding the functioning of markets and shows how the concept of transaction costs sheds light on a broad range of issues in strategy.
Keywords: Competitive Strategy;
Competition;
Corporate Strategy;
Cost;
Market Transactions;
Industry Clusters;
Failure;
Internet;
Citation: Anand, Bharat N., Tarun Khanna, and Jan W. Rivkin. " Market Failures." Harvard Business School Background Note 700-127, April 2000.
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Case
| HBS Case Collection
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1998
(Revised from original 1998 version)
Empresas CAP, 1994
Tarun Khanna and Danielle Melito Wu
Empresas CAP began as a private-sector steel company in 1946. Over the next 40 years, CAP's ownership structure moved from nationalization to reprivatization. Unrestricted by state ownership, CAP began to diversify its holdings. The case considers the viability of CAP's diversification into forestry, and the course of action that CEO Roberto de Andraca should take.
Keywords: Ownership;
Privatization;
Diversification;
Competitive Strategy;
Growth and Development Strategy;
Management;
Planning;
Steel Industry;
Citation: Khanna, Tarun, and Danielle Melito Wu. " Empresas CAP, 1994." Harvard Business School Case 798-053, November 1998. (Revised from original March 1998 version.)
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Case
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1998
Star TV in India--1998
Tarun Khanna, Geetu S Karnani and Tanya Z Haider
Keywords: Television Entertainment;
Media and Broadcasting Industry;
India;
Citation: Khanna, Tarun, Geetu S Karnani, and Tanya Z Haider. " Star TV in India--1998." Harvard Business School Case 799-049, October 1998.
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Supplement
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1998
Empresas CAP--1994, Video
Tarun Khanna
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Case
| HBS Case Collection
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1998
Microsoft--1995 (Abridged)
Tarun Khanna and David B. Yoffie
Focuses on how Microsoft built one of the world's greatest franchises and poses questions about what, if anything, can stop the company. Teaching purpose: To teach building competitive advantage, the advantages of bundling, and the sustainability of competitive advantages over time.
Keywords: Competitive Strategy;
Competitive Advantage;
Business Strategy;
Corporate Strategy;
Horizontal Integration;
Information Technology Industry;
Computer Industry;
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Case
| HBS Case Collection
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1998
Silicon Valley
Tarun Khanna and Danielle Melito Wu
Keywords: California;
Citation: Khanna, Tarun, and Danielle Melito Wu. " Silicon Valley." Harvard Business School Case 798-056, June 1998.
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Case
| HBS Case Collection
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1997
(Revised from original 1997 version)
Doing Business in China
Tarun Khanna and Danielle Melito Wu
Keywords: Globalized Economies and Regions;
China;
Citation: Khanna, Tarun, and Danielle Melito Wu. " Doing Business in China." Harvard Business School Case 798-052, December 1997. (Revised from original December 1997 version.)
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Teaching Note
| HBS Case Collection
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1997
(Revised from original 1995 version)
Microsoft, 1995 TN
Tarun Khanna
Teaching Note for (9-795-147) and (9-799-003).
Keywords: Computer Industry;
Citation: Khanna, Tarun. " Microsoft, 1995 TN." Harvard Business School Teaching Note 796-071, May 1997. (Revised from original September 1995 version.)
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Background Note
| HBS Case Collection
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1997
(Revised from original 1997 version)
Modern India
Tarun Khanna and Danielle J. Melito
Describes India's move from a controlled economy toward a more market-oriented one, commencing in 1991. Highlights the extent of changes in the product, capital, and labor markets, and the political situation at the central government, as these stood in 1995.
Keywords: Developing Countries and Economies;
Economic Systems;
Economy;
Macroeconomics;
Government and Politics;
Strategy;
Financial Services Industry;
India;
Citation: Khanna, Tarun, and Danielle J. Melito. " Modern India." Harvard Business School Background Note 797-108, May 1997. (Revised from original February 1997 version.)
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Case
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1997
RPG Enterprises--1995
Tarun Khanna
As in most emerging markets, a significant portion of the Indian private sector is dominated by extensively diversified, often family-owned or controlled, business groups. This case examines the strategy and structure of one of the largest business groups in India, at a time when the economy is going through substantial transition. RPG Enterprises' restructuring in response to the policy reforms in India (1991-95) allow one to understand the underlying reasons for the existence of the business group in the first instance. Also permits a discussion of some of the difficulties of restructuring in an emerging market.
Keywords: Emerging Markets;
Restructuring;
Corporate Strategy;
Alignment;
Policy;
Problems and Challenges;
India;
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Case
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1996
(Revised from original 1995 version)
Microsoft, 1995
Tarun Khanna, David B. Yoffie and Israel Yellen Ganot
Explores Microsoft's core desktop computing software business and its newer endeavors in 1995. Designed to explore the sustainability of its phenomenal success, and to examine the logic behind its renewed emphasis on some areas, particularly the home computing software market. Permits a discussion of the internal and external drivers and limitations of Microsoft's product scope expansion.
Keywords: Corporate Entrepreneurship;
Corporate Strategy;
Expansion;
Software;
Computer Industry;
Citation: Khanna, Tarun, David B. Yoffie, and Israel Yellen Ganot. " Microsoft, 1995." Harvard Business School Case 795-147, July 1996. (Revised from original April 1995 version.)
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Case
| HBS Case Collection
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1996
(Revised from original version)
Choice Hotels International, 1995
Tarun Khanna and Israel Yellen Ganot
Illustrates the various ways in which Choice Hotels, the franchiser for seven mid-market hotel chains, can realize economies of scope across its multiple products. Also provides an opportunity to discuss the benefits and limitations of various organizational forms (particularly, the franchise form) as a means of realizing these economies of scope. In adapting to a maturing U.S. hotel market, Choice has to confront the realization that the competitive environment and its choice of organizational form impose restrictions on the ways in which it can realize these economies of scope.
Keywords: Organizational Structure;
Competition;
Franchise Ownership;
Accommodations Industry;
United States;
Citation: Khanna, Tarun, and Israel Yellen Ganot. " Choice Hotels International, 1995." Harvard Business School Case 795-165, June 1996. (Revised from original April 1995 version.)
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Teaching Note
| HBS Case Collection
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1995
Choice Hotels International,1995 TN
Tarun Khanna
Teaching Note for (9-795-165).
Keywords: United States;
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Case
| HBS Case Collection
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1995
(Revised from original 1995 version)
Microsoft in the People's Republic of China, 1993
Tarun Khanna
Explores some of the economic and political tradeoffs that need to be negotiated by a firm seeking to influence industry structure. The setting is the nascent personal computer software industry in the People's Republic of China (PRC) in 1993. Microsoft has to localize its software products for use in the PRC. This localization can either be done in-house by Microsoft, or can be contracted to the local software vendors. Explores the costs and benefits of full integration and arm's-length market transaction. Also discusses the "holdup" problem that arises when assets specific to a particular partnership are created.
Keywords: Cost vs Benefits;
Product Marketing;
Market Entry and Exit;
Market Transactions;
Industry Structures;
Partners and Partnerships;
Vertical Integration;
Software;
Information Technology Industry;
China;
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Other Unpublished Work
| 2010
God, Government and Outsiders: The Influence of Religious Beliefs on Depositor Behavior in an Emerging Market.
Ayesha K. Khan and Tarun Khanna
This paper provides evidence that religious beliefs can have a significant impact on individual financial choices. Using proprietary panel data on the distribution of bank deposits across all commercial banks in Pakistan over a 33-month period, I find that Islamic banks enjoy substantially higher deposit growth rates than other banks and that this difference persists even after various other profit-maximizing determinants of bank demand are taken into account. I also find that while a recent financial crisis triggered a fall in deposit growth rates at all other types of banks, it had a positive impact on the religious banks despite the fact that these banks tend to have lower credit scores than other conventional banks. Together, these results reflect some of the complex factors influencing individual financial decisions and indicate that at least in the context of a religiously motivated population it makes economic sense to focus on the growth of institutional forms that reflect these preferences.
Keywords: Decision Choices and Conditions;
Commercial Banking;
Cross-Cultural and Cross-Border Issues;
Consumer Behavior;
Emerging Markets;
Religion;
Banking Industry;
Pakistan;
Citation: Khan, Ayesha K., and Tarun Khanna. "God, Government and Outsiders: The Influence of Religious Beliefs on Depositor Behavior in an Emerging Market." February 2010.
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Other Unpublished Work
| 2009
When Does Industrial Policy Work? Evidence from the Brazilian Ethanol Fuel Industry
Santiago Mingo and Tarun Khanna
What is the impact of a state-led industrial policy program on entrepreneurial activity, industry evolution, and firm competitiveness? How and when is industrial policy an effective tool to spur the development of an emerging industry? To address these questions, we use the Brazilian ethanol fuel industrial policy program as a research setting. We exploit the fact that the creation of this program was a consequence of the oil crisis of the 1970s. Using a novel data set containing detailed information about Brazilian ethanol producers, we show that industrial units founded during the industrial policy period are currently more productive than those founded before the protected period. We also find that, after the industrial policy program ended, a significant number of units that were built during the period of subsidies were acquired. Based on our theory, we infer that acquisitions played an important role in increasing the operational performance of these industrial units. High quality entrepreneurs should have selected out many low quality entrepreneurs that were in trouble after the "protected" period ended. We conclude that using industrial policy to create an industry can work, but this depends critically on the presence of a "post-industrial-policy" business landscape that allows the industry to adjust and evolve into a more competitive equilibrium.
Keywords: Economic Growth;
Entrepreneurship;
Policy;
Industry Growth;
Business and Government Relations;
Competition;
Energy Industry;
Brazil;
Citation: Mingo, Santiago, and Tarun Khanna. "When Does Industrial Policy Work? Evidence from the Brazilian Ethanol Fuel Industry." 2009.
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Other Paper
| 1994
From Project Management ot Product Stream Management: Implications of the Resource-Based View
Ashish Nanda and T. Khanna
Citation: Nanda, Ashish, and T. Khanna. "From Project Management ot Product Stream Management: Implications of the Resource-Based View."
Research Summary
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Research Summary
Health Care Delivery and Innovation in the Developing World
by
Tarun Khanna
This research project focuses on healthcare in emerging markets. It looks at data from hospitals in the U.S. and India and compares productivity, medical innovation, healthcare cost etc…It considers the global supply chain in medicine and healthcare, and examines how rising insurance costs and increased instances of litigation are prompting geographic shifts in where and how medical innovation is being created and carried out.
Keywords: health care;
emerging markets;
medical services;
innovation;
Health;
Health Care and Treatment;
Emerging Markets;
Innovation and Management;
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Research Summary
Emerging Giants
by
Tarun Khanna
The project investigates how to build world-class companies from emerging markets. This builds on a five-year study of diversified, often family-controlled, business groups in Asia, Africa and Latin America, and on a concurrent study of de novo entrepreneurship in a range of emerging markets.
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Research Summary
China and India in Comparative Business Perspective
by
Tarun Khanna
The project studies the alternative development trajectories undertaken by two large populous Asian countries, China and India, projected to account for close to half the world's population in a few decades. On many dimensions, notably willingness to embrace foreign investment and extent to which domestic entrepreneurship is encouraged, the two giants have adopted different paths. The project studies multinationals and domestic indigenous entrepreneurship in each of the countries using large-sample, historical and current field data.
Teaching
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Teaching Interest
Contemporary South Asia: A Survey of Intractable Problems and Innovative Solutions
by
Tarun Khanna
This survey course focuses on several categories of social and economic problems faced by the countries of South Asia, specifically, in the realms of Education, Health, Financial Inclusion, and Telecommunications. Each problem category will be dealt with through a survey lecture, supplemented by assigned and recommended readings for those wishing to explore the topic further, and an in-depth look at one or more organizations, companies, non-profits, or regulatory interventions that have attempted to address some of the problems within that category. The primary objective of the course is to immerse students – in an inter-disciplinary and university-wide setting – to the problems of our generation in South Asia, and also to a range of entrepreneurial attempts to solve these, warts and all. Related Links: , Download video of the course trailer (SW 47)
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Teaching Interest
Globalization of Emerging Markets
by
Tarun Khanna
A comprehensive look at emerging markets, including the BRIC countries (Brazil, Russia, India, China), as they integrate with today's world economy. We will offer a conceptual framework to analyze emerging markets from multiple lenses - that of indigenous entrepreneurs struggling to overcome constraints to build world-class businesses, that of multinationals from the developed triad countries tapping into emerging markets for their next growth spurt, that of investors in the developed world seeking to profit from investment opportunities, and that of policymakers in developed and developing countries seeking to understand this new wave of globalization. The course is an experimental half-course that builds on our past decade of research in emerging markets, and draws on foundational material from first-year Strategy, Finance, and BGIE. Related Link: Fall 2006 syllabus
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Teaching Interest
Strategy
by
Tarun Khanna
The objective of this course is to help students develop the skills for formulating strategy. It provides an understanding of: (1)A firm's operative environment and how to sustain competitive advantage (2)How to generate superior value for customers by designing the optimum configuration of the product mix and functional activities (3) How to balance the opportunities and risks associated with dynamic and uncertain changes in industry attractiveness and competitive position. Students learn to: Develop a mastery of a body of analytical tools and the ability to take an integrative point of view. Use these tools to perform in-depth analyses of industries and competitors, predict competitive behavior, and analyze how firms develop and sustain competitive advantage over time. Particular attention is paid to competitive positioning; understanding comparative costs; and addressing issues such as cannibalization, network externalities, and globalization. Related Link: Spring 2006 Syllabus
Awards & Honors
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Tarun Khanna: Nominated as a Young Global Leader 2007 by the World Economic Forum. The honor, bestowed annually, recognizes a group of 250 top leaders in business, government, academia, and the media--all below the age of 41--for their professional accomplishments, their commitment to society, and their potential to contribute to shaping the future of the world. This year's group was chosen from a pool of more than 4,000 candidates.
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Tarun Khanna: Elected a fellow of the Academy of International Business in 2009.
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Tarun Khanna: Winner of the 1999 Best Paper Prize from the Business Policy and Strategy Division of the Academy of Management for "Estimating the Performance Effects of Networks in Emerging Markets" (with Jan Rivkin, Strategic Management Journal, January 2001).
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