Forest L. Reinhardt

John D. Black Professor

Forest L. Reinhardt is the John D. Black Professor of Business Administration at Harvard Business School.

Reinhardt is co-chair of the Harvard Business School's Global Energy Seminar, a new executive education course for the leaders of firms that produce oil and gas, generate and distribute electricity, or play other important roles in the delivery of energy services. He also teaches regularly in the HBS Agribusiness Seminar.

In the HBS Owner/President Management Program, Reinhardt teaches a core course on Global Markets.  Drawing on microeconomics, macroeconomics, political science, and history, the course helps business leaders understand the economic and political environment in which business is conducted, and the strategic opportunities and risks to which globalization gives rise. 

Reinhardt recently served as course head for the required MBA course, Strategy, which covers topics in industry analysis, competitive advantage, and corporate strategy.

Reinhardt currently serves as the faculty chair of Harvard Business School's Asia-Pacific Research Center and the chair of the HBS Executive Education Asia-Pacific Region.

Reinhardt is interested in the relationships between market and nonmarket strategy, the relations between government regulation and corporate strategy, the behavior of private and public organizations that manage natural resources, and the economics of externalities and public goods. He is the author of Down to Earth: Applying Business Principles to Environmental Management, published by Harvard Business School Press. Like that book, many of his articles and papers analyze problems of environmental and natural resource management. He has written numerous classroom cases on these and related topics, used at Harvard and many other schools in MBA curricula and in executive programs.

Reinhardt received his Ph.D. in Business Economics from Harvard University in 1990. He also holds an MBA from Harvard Business School, where he was a Baker Scholar, and an A.B., cum laude, from Harvard College.

Born and raised in Montana, he lives in Belmont, Massachusetts. 

    Publications

    Journal Articles

    1. Households' Willingness to Pay for 'Green' Goods: Evidence from Patagonia's Introduction of Organic Cotton Sportswear

      To shed light on individuals' willingness to pay for "green" goods (i.e., goods that are supposed to have lower adverse environmental impacts either in production or in use), we study data from the introduction by Patagonia, Inc., of organic cotton sportswear in the mid 1990s. Patagonia, a maker of high-end outdoor wear, substituted organic cotton for conventionally grown cotton in all of its sportswear (i.e., casual clothing for travel and leisure) in 1996. We find that customers were willing to pay significant premiums for organic cotton garments although the organic cotton provided no demonstrable private incremental benefits to the customer.

      Keywords: Spending; Consumer Behavior; Environmental Sustainability; Consumer Products Industry;

      Citation:

      Casadesus-Masanell, Ramon, Michael Crooke, Forest L. Reinhardt, and Vishal Vasishth. "Households' Willingness to Pay for 'Green' Goods: Evidence from Patagonia's Introduction of Organic Cotton Sportswear." Journal of Economics & Management Strategy 18, no. 1 (spring 2009): 203–233.
    2. Corporate Social Responsibility Through an Economic Lens

      Business leaders, government officials, and academics are focusing considerable attention on the concept of "corporate social responsibility" (CSR), particularly in the realm of environmental protection. Beyond complete compliance with environmental regulations, do firms have additional moral or social responsibilities to commit resources to environmental protection? How should we think about the notion of firms sacrificing profits in the social interest? May they do so within the scope of their fiduciary responsibilities to their shareholders? Can they do so on a sustainable basis, or will the forces of a competitive marketplace render such efforts and their impacts transient at best? Do firms, in fact, frequently or at least sometimes behave this way, reducing their earnings by voluntarily engaging in environmental stewardship? And finally, should firms carry out such profit-sacrificing activities (i.e., is this an efficient use of social resources)? We address these questions through the lens of economics, including insights from legal analysis and business scholarship.

      Keywords: Profit; Governance Compliance; Governing Rules, Regulations, and Reforms; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Environmental Sustainability;

      Citation:

      Reinhardt, Forest L., Robert N. Stavins, and Richard H.K. Vietor. "Corporate Social Responsibility Through an Economic Lens." Review of Environmental Economics and Policy 2, no. 2 (summer 2008).
    3. Grist: A Strategic Approach to Climate

      Climate change will affect everything businesses do, as government efforts to mitigate carbon emissions cause their prices to rise steeply. This special edition of Forethought takes a hard-nosed look at the risks and opportunities of climate change. Michael E. Porter and Forest L. Reinhardt argue that the effects of climate change on companies' operations are now so tangible and certain that the issue is best addressed with the tools of the strategist, not the philanthropist.

      Keywords: Customer Value and Value Chain; Governing Rules, Regulations, and Reforms; Leadership; Logistics; Corporate Social Responsibility and Impact; Performance Improvement; Weather and Climate Change; Competitive Advantage; Corporate Strategy;

      Citation:

      Porter, Michael E., and Forest Reinhardt. "Grist: A Strategic Approach to Climate." Forethought. Harvard Business Review 85, no. 10 (October 2007): 22–26.
    4. Opinion: Place Your Bets on the Future You Want

      This piece posits that success in a carbon-constrained world will be determined by innovation and acumen, requiring companies to make bold moves.

      Keywords: Governing Rules, Regulations, and Reforms; Innovation and Invention; Knowledge Use and Leverage; Leadership; Success; Environmental Sustainability; Weather and Climate Change; Competitive Advantage;

      Citation:

      Reinhardt, Forest. "Opinion: Place Your Bets on the Future You Want." Harvard Business Review 85, no. 10 (October 2007): 42–43.
    5. What Every Executive Needs to Know about Global Warming

      Keywords: Management; Environmental Sustainability;

      Citation:

      O'Neill Packard, Kimberly, and F. Reinhardt. "What Every Executive Needs to Know about Global Warming." Harvard Business Review 78, no. 4 (July–August 2000): 128–135.
    6. Tensions in the Environment

      Citation:

      Reinhardt, F. L. "Tensions in the Environment." Mastering Risk. Financial Times (June 13, 2000).
    7. Sustainability and the Firm

      Keywords: Environmental Sustainability; Business Ventures;

      Citation:

      Reinhardt, F. L. "Sustainability and the Firm." Interfaces 30, no. 3 (May–June 2000): 26–41.
    8. Bringing the Environment Down to Earth

      Citation:

      Reinhardt, F. L. "Bringing the Environment Down to Earth." Harvard Business Review 77, no. 4 (July–August 1999): 149–157.
    9. Market Failure and the Environmental Policies of Firms: Economic Rationales for 'Beyond Compliance' Behavior

      Keywords: Failure; Policy; Business Ventures; Behavior; Economics;

      Citation:

      Reinhardt, F. L. "Market Failure and the Environmental Policies of Firms: Economic Rationales for 'Beyond Compliance' Behavior." Journal of Industrial Ecology 3, no. 1 (winter 1999): 9–21.
    10. Environmental Product Differentiation: Implications for Corporate Strategy

      Keywords: Product; Corporate Strategy;

    11. Losing to Win: U.S. Steel's Pricing, Investment Decisions, and Market Share, 1901-1938

      Keywords: Price; Investment; Revenue; Steel Industry;

      Citation:

      Reinhardt, F. L., and T. K. McCraw. "Losing to Win: U.S. Steel's Pricing, Investment Decisions, and Market Share, 1901-1938." Journal of Economic History 49 (September 1989): 593–619.

    Book Chapters

    1. Environmental Protection and the Social Responsibility of Firms: Perspectives from the Business Literature

      Keywords: Environmental Sustainability; Corporate Social Responsibility and Impact;

      Citation:

      Reinhardt, Forest. "Environmental Protection and the Social Responsibility of Firms: Perspectives from the Business Literature." In Environmental Protection and the Social Responsibility of Firms, edited by Bruce L. Hay, Robert Stavins, and Richard Vietor, 151. Washington, D.C.: Resources for the Future, 2005.
    2. Tests for Sustainability

      Citation:

      Reinhardt, Forest. "Tests for Sustainability." In Global Competitiveness Report 2003-2004, edited by Peter K Cornelius. New York: Oxford University Press, 2003.
    3. Bridging the Gap: How Improved Information Can Help Companies Integrate Shareholder Value and Environmental Quality

      Keywords: Corporate Social Responsibility and Impact; Business and Shareholder Relations; Information; Environmental Sustainability;

      Citation:

      Reinhardt, Forest. "Bridging the Gap: How Improved Information Can Help Companies Integrate Shareholder Value and Environmental Quality." In Environmental Performance Measurement: The Global Report 2001-2002, edited by Daniel Esty and Peter K. Cornelius. Oxford: Oxford University Press, 2002.
    4. A Business Manager's Approach to Climate Change

      Keywords: Weather and Climate Change; Science-Based Business; Business Strategy;

      Citation:

      Reinhardt, Forest, and Kimberly O'Neill Packard. "A Business Manager's Approach to Climate Change." In Climate Change: Science, Strategies, & Solutions, edited by Eileen Claussen. Leiden: Brill Academic Publishers, 2001.
    5. Foreign Firms in the Chinese Power Sector: Economic and Environmental Impacts

      Keywords: Multinational Firms and Management; Energy; Environmental Sustainability; Developing Countries and Economies; Energy Industry; China;

      Citation:

      Reinhardt, F. L., Fiona Murray, and Richard Vietor. "Foreign Firms in the Chinese Power Sector: Economic and Environmental Impacts." In Energizing China: Reconciling Environmental Protection and Economic Growth, edited by M. McElroy, C. Nielsen, and P. Lydon. Cambridge: Harvard University, Committee on Environment, 1998.
    6. Investment in Pollution Compliance Options: The Case of Georgia Power

      Keywords: Pollution and Pollutants; Investment; Environmental Sustainability; Corporate Social Responsibility and Impact; Energy Industry; Georgia (state, US);

      Citation:

      Reinhardt, F. L., and M. Edleson. "Investment in Pollution Compliance Options: The Case of Georgia Power." In Real Options in Capital Investment: Models, Strategies, and Applications, edited by L. Trigeorgis. Westport, CT: Praeger, 1995.

    Cases and Teaching Materials

    1. Yara International

      Keywords: globalization; regulation; strategy; business-government relations; International trade; international strategy; Agribusiness; Food; Growth and Development; Government and Politics;

      Citation:

      Reinhardt, Forest, and James Weber. "Yara International." Harvard Business School Case 714-002, December 2013.
    2. Dongfeng Nissan's Venucia (C)

      The (A) case describes the launch of a new passenger vehicle in China, produced jointly by Nissan of Japan and by Chinese automaker Dongfeng. Early sales results following the April 2012 launch were disappointing and the joint venture's managers had to decide how to respond. The case includes information on the structure of the industry, on government regulation, and on the preferences of Chinese purchasers of automobiles, including information about environmental considerations. The short (B) case, designed for distribution in class, describes further complications, as an international dispute between the Japanese and Chinese governments created further uncertainties for Chinese consumers and hence for the carmakers. The (C) case concludes the story; it too can be distributed in class.

      Keywords: China; Japan; competitive strategy; auto industry; product launch; environment; sustainability; global strategy; Multinational Firms and Management; crisis management; cross-cultural/cross-border; Competitive Strategy; Product Launch; Global Strategy; Multinational Firms and Management; Crisis Management; Cross-Cultural and Cross-Border Issues; Auto Industry; China; Japan;

      Citation:

      Reinhardt, Forest, Mayuka Yamazaki, and G.A. Donovan. "Dongfeng Nissan's Venucia (C)." Harvard Business School Supplement 714-016, October 2013.
    3. Dongfeng Nissan's Venucia (B)

      The (A) case describes the launch of a new passenger vehicle in China, produced jointly by Nissan of Japan and by Chinese automaker Dongfeng. Early sales results following the April 2012 launch were disappointing and the joint venture's managers had to decide how to respond. The case includes information on the structure of the industry, on government regulation, and on the preferences of Chinese purchasers of automobiles, including information about environmental considerations. The short (B) case, designed for distribution in class, describes further complications, as an international dispute between the Japanese and Chinese governments created further uncertainties for Chinese consumers and hence for the carmakers. The (C) case concludes the story; it too can be distributed in class.

      Keywords: China; Japan; competitive strategy; auto industry; product launch; global strategy; Multinational Firms and Management; Multinational firms; crisis management; cross-cultural/cross-border; environment; sustainability; Competitive Strategy; Product Launch; Global Strategy; Multinational Firms and Management; Crisis Management; Cross-Cultural and Cross-Border Issues; Auto Industry; China; Japan;

      Citation:

      Reinhardt, Forest, Mayuka Yamazaki, and G.A. Donovan. "Dongfeng Nissan's Venucia (B)." Harvard Business School Supplement 714-015, October 2013.
    4. Donfeng Nissan's Venucia (A)

      The (A) case describes the launch of a new passenger vehicle in China, produced jointly by Nissan of Japan and by Chinese automaker Dongfeng. Early sales results following the April 2012 launch were disappointing and the joint venture's managers had to decide how to respond. The case includes information on the structure of the industry, on government regulation, and on the preferences of Chinese purchasers of automobiles, including information about environmental considerations. The short (B) case, designed for distribution in class, describes further complications, as an international dispute between the Japanese and Chinese governments created further uncertainties for Chinese consumers and hence for the carmakers. The (C) case concludes the story; it too can be distributed in class.

      Keywords: auto industry; China; Japan; cross-cultural/cross-border; crisis management; global strategy; competitive strategy; product launch; Multinational Firms and Management; Multinational firms; Competitive Strategy; Product Launch; Global Strategy; Multinational Firms and Management; Crisis Management; Cross-Cultural and Cross-Border Issues; Auto Industry; China; Japan;

      Citation:

      Reinhardt, Forest, Mayuka Yamazaki, and G.A. Donovan. "Donfeng Nissan's Venucia (A)." Harvard Business School Case 714-014, October 2013.
    5. Colbún and the Future of Chile's Power (TN)

      Keywords: Energy Industry; Chile; South America;

      Citation:

      Reinhardt, Forest L., and Shon R. Hiatt. "Colbún and the Future of Chile's Power (TN)." Harvard Business School Teaching Note 713-054, March 2013.
    6. Colbún and the Future of Chile's Power

      This case is about Colbún, Chile's second largest electricity generator, which is facing significant uncertainty regarding the cost and availability of alternative energy sources. Problems with the contracted supply of natural gas and the volatility of oil prices, coupled with pressure from collective activists, force Colbún to revise its business strategy and its sourcing mix. The case also deals with the pros and cons of various energy sources in view of their perceived environmental impact. The company's CEO, Bernardo Larrain Matte, has to take all these different considerations into account when planning Colbún's future, especially in the light of new opportunities and challenges posed by global climate change. The case analyzes the operations of Colbún to illustrate the complexities associated with conducting business under the influence of global energy markets, political uncertainty, and environmental activism.

      Keywords: energy; Energy Industry; chile; environmental protection; Energy Generation; Energy Industry; South America; Chile;

      Citation:

      Reinhardt, Forest, and Shon R. Hiatt. "Colbún and the Future of Chile's Power ." Harvard Business School Case 713-047, November 2012. (Revised April 2013.)
    7. Carbon Credits

      Keywords: carbon; waste management; carbon credits; emission reduction; Europe; Japan; carbon credits; renewable energy; Wastes and Waste Processing; Renewable Energy; Energy Industry; Green Technology Industry; Europe; Japan;

      Citation:

      Reinhardt, Forest, Jost Hamschmidt, and Mikell Hyman. "Carbon Credits." Harvard Business School Background Note 713-032, September 2012.
    8. Maersk Line and the Future of Container Shipping

      Keywords: corporate social responsibility; supply and demand; environment; competitive advantage; commodity; Natural Environment; Corporate Social Responsibility and Impact; Competitive Advantage; Shipping Industry;

      Citation:

      Reinhardt, Forest, Ramon Casadesus-Masanell, and Frederik Nellemann. "Maersk Line and the Future of Container Shipping." Harvard Business School Case 712-449, May 2012. (Revised June 2012.)
    9. Colbun - Powering Chile (TN)

      Keywords: Utilities Industry; Chile;

      Citation:

      Reinhardt, Forest L., Michael W. Toffel, Noel Maurer, and Frederik Nellemann. "Colbun - Powering Chile (TN)." Harvard Business School Teaching Note 712-021, December 2011.
    10. Colbún—Powering Chile

      This case is about Colbún, Chile's second largest electricity generator, which is facing significant uncertainty regarding the cost and availability of alternative energy sources. Problems with the contracted supply of natural gas and the volatility of oil prices, coupled with regulatory changes made by the government, force Colbún to revise its business strategy and its sourcing mix. New legislation will replace historically regulated electricity prices for certain customers with free market prices and therefore change the conditions under which the company must operate. The case also deals with the pros and cons of various energy sources in view of their perceived environmental impact. As the company's CEO, Bernardo Larrain Matte has to take all these different considerations into account when planning Colbún's future, especially in the light of new opportunities and challenges posed by global climate change. The case analyzes the Chilean electricity sector and the operations of Colbún to illustrate the complexities associated with conducting business under the influence of global energy markets, government regulations, and environmental activism.

      Keywords: Non-Renewable Energy; Globalized Markets and Industries; Governing Rules, Regulations, and Reforms; Government Legislation; Organizational Change and Adaptation; Business and Government Relations; Weather and Climate Change; Business Strategy; Energy Industry; Chile;

      Citation:

      Reinhardt, Forest L., Gustavo A. Herrero, and Sanjay Patnaik. "Colbún—Powering Chile." Harvard Business School Case 709-060, June 2009. (Revised December 2011.)
    11. Duke Energy and the Nuclear Renaissance

      Duke Energy, an American investor-owned electric utility, confronts multibillion dollar decisions about its future fuel mix. In particular, its leaders are considering building new nuclear capacity. Whether this is sensible depends, among other things, on demand growth, capital costs, fossil fuel prices, possible regulatory or other delays in constructing the reactors, and possible future restrictions on carbon dioxide. CEO Jim Rogers believes that nuclear power makes sense from a social standpoint but also must consider the perspectives of his ratepayers and his shareholders.

      Keywords: Energy Industry;

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "Duke Energy and the Nuclear Renaissance." Harvard Business School Case 712-002, September 2011. (Revised February 2014.)
    12. Clearwater Seafoods (TN)

      Keywords: Food and Beverage Industry;

      Citation:

      Reinhardt, Forest L., Michael W. Toffel, and Frederik Peter Nellemann. "Clearwater Seafoods (TN)." Harvard Business School Teaching Note 712-020, October 2011.
    13. Clearwater Seafoods

      Clearwater was trying to market value-added products in a traditionally commodities based industry while facing supply uncertainties and regulatory, environmental, and foreign exchange challenges. Clearwater harvested shellfish from the Canadian Atlantic fishery and sold this in markets around the world. They prided themselves on their sustainable fishing practices, which were not the norm for the industry. Seafood buyers traditionally bought on price. Clearwater's innovations and technology investments enabled it to produce a higher quality, value-added product, but it faced the challenge of convincing buyers to pay a premium price. Their products originated from a wild resource under government regulations which limited the size of the catch by both the industry and Clearwater. In recent years, Clearwater operated in an environment with a rising Canadian currency. This reduced profitability because Clearwater's costs were in Canadian currency while its sales where largely in other currencies. The case also discusses the challenges of maintaining a sustainable fishery and uses the collapse of the cod fishing industry as an example. Clearwater was founded in 1976, it went public in 2002, and was still managed by its two founding partners in 2006.

      Keywords: Agribusiness; Profit; Goods and Commodities; Governing Rules, Regulations, and Reforms; Product Marketing; Corporate Social Responsibility and Impact; Environmental Sustainability; Agriculture and Agribusiness Industry; Canada;

      Citation:

      Reinhardt, Forest L., and James Weber. "Clearwater Seafoods." Harvard Business School Case 707-012, September 2006. (Revised June 2011.)
    14. The Political Economy of Carbon Trading

      Global climate change is an increasingly prominent political and business problem. Design of market-based systems to reduce carbon emissions has proven difficult. More broadly, national attempts to comply with the provisions of the Kyoto Protocol present both governments and firms with significant challenges. The design of international institutions that will be useful for managing change after the Kyoto period is a challenge both for Kyoto ratifiers and for countries like the United States that have not ratified the agreement. Creation of a post-Kyoto treaty on climate change requires agreement by China and the United States, the world's largest carbon emitters. The case summarizes the science and economics of climate change and encourages readers to contemplate the strategic and risk management problems that it presents to government officials and to business leaders in developed countries and in the developing world.

      Keywords: Policy; International Relations; Risk Management; Agreements and Arrangements; Business and Government Relations; Natural Environment; Pollution and Pollutants; Weather and Climate Change; Environmental Sustainability; Public Administration Industry;

      Citation:

      Reinhardt, Forest L., J. Gunnar Trumbull, Mikell Hyman, Patia McGrath, and Nazli Zeynep Uludere. "The Political Economy of Carbon Trading." Harvard Business School Case 710-056, February 2010. (Revised April 2011.)
    15. CME Group

      The case describes CME Group, the world's largest commodities exchange, futures and options on futures contracts, history, regulation, and the strategic choices the company faced. CME Group was formed from the oldest and most well-known exchanges in the world. Traders on the exchange bought and sold contracts in order to hedge risk or speculate on future price trends. In recent decades trading had undergone significant growth. From its roots in agricultural commodities, with trading typically occurring in face-to-face transactions in pits on exchange floors, CME introduced new hedging products in metals, energy, and finance, and electronic trading, which brought new market participants. Some of these new participants, such as pension funds, were significantly larger and had different strategic agendas than the traditional agricultural related participants. The case raises the question of whether increased speculation was helping or hurting the exchange or its participants. In addition, the financial crisis of 2007 and 2008 was driving new regulation in the industry which brought new challenges and opportunities to CME.

      Keywords: Financial Crisis; Stocks; Goods and Commodities; Governing Rules, Regulations, and Reforms; Risk Management; Market Participation; Market Transactions; Financial Services Industry; United States;

      Citation:

      Reinhardt, Forest L., and James Weber. "CME Group." Harvard Business School Case 711-005, January 2011. (Revised April 2011.)
    16. The Political Economy of Carbon Trading (TN)

      Teaching Note for 710056.

      Keywords: Weather and Climate Change; Globalization; International Relations; Problems and Challenges; Agreements and Arrangements; Risk Management; Developing Countries and Economies; System; United States; China;

      Citation:

      Reinhardt, Forest L., and J. Gunnar Trumbull. "The Political Economy of Carbon Trading (TN)." Harvard Business School Teaching Note 711-098, March 2011.
    17. Patagonia (TN)

      Teaching Note for 711020.

      Keywords: Consumer Products Industry;

      Citation:

      Reinhardt, Forest, Ramon Casadesus-Masanell, and Hyun Jin Kim. "Patagonia (TN)." Harvard Business School Teaching Note 711-081, March 2011.
    18. Arcadia Biosciences: Seeds of Change

      Arcadia Biosciences is an entrepreneurial California agricultural biotech company seeking to earn carbon credits by modifying commodity crops for use in China and India. Eric Rey, Arcadia's CEO, faced a strategic inflection point in early September 2008. The company had a plan to share carbon credits allocated by the United Nations Clean Development Mechanism Executive Board to China, for use of Arcadia's rice varieties, since they enabled farmers to reduce nitrogen fertilizer use, in turn lowering greenhouse gas emissions. But the company's proprietary traits for nitrogen use efficiency, salt tolerance, and water use efficiency also had more conventional paths to market based on licensing deals to large seed companies. Alternatively, Arcadia could acquire a seed company and develop and market its seed directly. A different near-term growth area involved commercializing enriched safflower oil, which had undergone several proof-of-concept tests and for which Rey foresaw a clear market in nutritional supplements and functional foods. The case provides context on the company; describes advances in crops genetics focused to climate change and associated resource issues of fertilizer use, water use, and soil salinity; and poses strategic choices for a start-up company operating at the intersection of business, agriculture, and climate change.

      Keywords: Business Startups; Entrepreneurship; Growth and Development Strategy; Environmental Sustainability; Science-Based Business; Weather and Climate Change; Agriculture and Agribusiness Industry; Biotechnology Industry; China; India; California;

      Citation:

      Daemmrich, Arthur A., Forest L. Reinhardt, and Mary Louise Shelman. "Arcadia Biosciences: Seeds of Change." Harvard Business School Case 709-019, December 2008. (Revised January 2011.)
    19. Arcadia Biosciences: Seeds of Change (TN)

      Teaching Note for 709019.

      Keywords: Biotechnology Industry;

      Citation:

      Daemmrich, Arthur A., and Forest L. Reinhardt. "Arcadia Biosciences: Seeds of Change (TN)." Harvard Business School Teaching Note 711-042, November 2010. (Revised July 2012.)
    20. Mid-Missouri Energy: Ethanol from Corn

      Mid-Missouri Energy (MME) is a farmer-owned cooperative that produces ethanol from corn. The cooperative has performed well in comparison to other producers, but margins in the industry had declined as industry production levels neared market demand limits. MME farmers needed to decide whether to take advantage of their success and expand through acquisitions, whether they should sell the plant, or whether they should continue current operations. MME must consider ongoing regulatory changes that impacted the industry, the possible impact of imported ethanol, the power of the petroleum industry that bought its product, and ongoing uncertainty about corn and ethanol price swings.

      Keywords: Agribusiness; Renewable Energy; Governing Rules, Regulations, and Reforms; Policy; Growth and Development Strategy; Cooperative Ownership; Business and Government Relations; Agriculture and Agribusiness Industry; United States;

      Citation:

      Reinhardt, Forest L., Noel Michele Holbrook, James Weber, and Karla Sartor. "Mid-Missouri Energy: Ethanol from Corn." Harvard Business School Case 711-004, November 2010. (Revised December 2010.)
    21. Patagonia

      Patagonia was deeply committed to the environment. This commitment, at times, conflicted with the company's goal to create the most innovative products in its industry. Patagonia's founder and executives welcomed imitation of both its environmental commitment and its culture. The question remained whether Patagonia's model would work well for a wide range of companies. In 2003, Patagonia executives were considering which products and markets would fit best into their portfolio of product lines, which included alpine, skiing, snowboarding, fishing, paddling, rock climbing, surfing, kayaking, and mountain biking. There was a tradeoff between alienating its core customers and achieving growth via entry into new product markets.

      Keywords: Business History; Environmental Sustainability; Business Model; Business Strategy; Expansion; Consumer Products Industry;

      Citation:

      Reinhardt, Forest L., Ramon Casadesus-Masanell, and Hyun Jin Kim. "Patagonia." Harvard Business School Case 711-020, August 2010. (Revised October 2010.)
    22. Cosan: Thinking Outside the Barrel

      The Cosan case introduces students and executive education participants to political economy and business strategy in the biofuels industry. Cosan, based in Brazil, is the largest grower and processor of sugarcane in the world and the largest sugar and ethanol producer in Brazil; it is also the world's largest exporter of ethanol for vehicle fuels. Rubens Ometto, Cosan's CEO, has staked out a leading position in the Brazilian ethanol and sugar industries by virtue of his efficiencies in agricultural production and in downstream logistics. He now needs to consider whether, and how aggressively, to expand abroad, either with production facilities or by exporting Brazilian output. He also needs to decide the appropriate vertical structure for the firm: whether he should be involved more extensively in agriculture, processing, distribution, or retail. The answers to these questions depend on his views of the future of the industry and on the governmental institutions that will affect the distribution of value along the value chain.

      Keywords: Renewable Energy; Global Strategy; Governing Rules, Regulations, and Reforms; Industry Structures; Business and Government Relations; Business Strategy; Vertical Integration; Agriculture and Agribusiness Industry; Energy Industry; Brazil;

      Citation:

      Reinhardt, Forest L., Noel Maurer, and Ricardo Reisen de Pinho. "Cosan: Thinking Outside the Barrel." Harvard Business School Case 710-017, October 2009. (Revised October 2010.)
    23. BP and the Consolidation of the Oil Industry, 1998-2002; and Supplement (TN)

      Keywords: Energy Industry;

      Citation:

      Reinhardt, Forest L., Ramon Casadesus-Masanell, and David J Hanson. "BP and the Consolidation of the Oil Industry, 1998-2002; and Supplement (TN)." Harvard Business School Teaching Note 706-048, April 2006. (Revised March 2010.)
    24. Patagonia (TN)

      Keywords: Argentina; Chile;

      Citation:

      Casadesus-Masanell, Ramon, and Forest L. Reinhardt. "Patagonia (TN)." Harvard Business School Teaching Note 705-028, January 2005. (Revised March 2010.)
    25. BP and the Consolidation of the Oil Industry, 1998-2002

      Examines the economics of the oil and gas industry with a focus on 1998 through 2001. Discusses the rationale behind using a growth in scale as a means to increase profitability and to gain competitive advantage. Also examines the classic strategic implications of vertical integration and questions the necessity of remaining vertically integrated in today's markets. During 1998-2001, the industry structure changed dramatically with the occurrence of a wave of merger activity. Set at the end of 2001, as BP's chief executive, Lord John Browne, ponders the company's future. BP set off the merger activity in 1998 with its combination with Amoco. Other major oil concerns quickly followed suit. Several large and dominant firms, termed "supermajors," separated themselves from the rest of the competitors. Although a large number of independent specialty firms also exist, the supermajor firms no longer believe them to be direct competitors. After the case discussion, students should be able to: 1) understand the basic economics of the oil and gas industry, 2) analyze the rationale behind vertical integration strategies, 3) analyze why the industry restructuring occurred, and 4) understand the economies of scale of the supermajor firms as well as the potential problems their immense size could create.

      Keywords: Non-Renewable Energy; Growth and Development Strategy; Industry Structures; Competitive Advantage; Consolidation; Horizontal Integration; Vertical Integration; Energy Industry;

      Citation:

      Reinhardt, Forest L., Ramon Casadesus-Masanell, and David J Hanson. "BP and the Consolidation of the Oil Industry, 1998-2002." Harvard Business School Case 702-012, March 2002. (Revised January 2010.)
    26. Patagonia

      Keywords: Apparel and Accessories Industry;

      Citation:

      Reinhardt, Forest L., Ramon Casadesus-Masanell, and Deborah Freier. "Patagonia." Harvard Business School Case 703-035, March 2003. (Revised January 2010.)
    27. Global Climate Change and BP

      Following the sudden resignation of Sir John Browne, Tony Hayward, BP CEO, must decide how global climate change management will figure into BP's corporate strategy. Climate change management was a major part of BP's strategy under Browne: In 1997 Browne broke from his colleagues, publicly declaring that global climate change was a serious problem and pledging BP to play a significant role in the search for solutions. BP successfully reduced its own carbon emissions, and championed cap-and-trade style regulation over taxation or command-and-control. Despite this progress, as the climate issue gains in political prominence and the Kyoto Protocol nears expiration, Hayward must consider what actions to take in BP's business strategy and in the political arena to manage ongoing climate risk.

      Keywords: Change Management; Weather and Climate Change; Corporate Strategy; Corporate Social Responsibility and Impact; Management Teams; Environmental Sustainability; Government and Politics; Energy Sources; Global Strategy; Operations; Utilities Industry; Energy Industry; United Kingdom;

      Citation:

      Reinhardt, Forest L., and Mikell Hyman. "Global Climate Change and BP." Harvard Business School Case 708-026, October 2007. (Revised October 2009.)
    28. The Carbon Market

      The carbon market has emerged in response to concerns about global climate change. This note characterizes the market in 2008, describing each segment and how it operates.

      Keywords: Non-Renewable Energy; Market Transactions; Environmental Sustainability; Weather and Climate Change;

      Citation:

      Perold, Andre F., Forest L. Reinhardt, and Mikell Hyman. "The Carbon Market." Harvard Business School Background Note 209-064, September 2008. (Revised October 2009.)
    29. South Pole Carbon Asset Management-Going for Gold?

      In late 2008, Christoph Sutter, CEO of South Pole Carbon Asset Management, reflects on his firm's early success at originating carbon credits in developing nations and selling them to governments and firms that seek to offset their greenhouse gas emissions voluntarily or to fulfill regulatory obligations. South Pole's early strategy has focused on being a first mover in the niche market for premium quality carbon credits. But as the market evolves in the face of significant policy uncertainty, Sutter wonders what South Pole's strategy should be for the future. This case study can facilitate discussions about environmental markets, about opportunities for entrepreneurship raised by new environmental regulations, and about challenges in markets for tradable pollution permits.

      Keywords: Developing Countries and Economies; Non-Renewable Energy; Entrepreneurship; Governing Rules, Regulations, and Reforms; Environmental Sustainability; Corporate Strategy;

      Citation:

      Reinhardt, Forest L., Jost Hamschmidt, and Mikell Hyman. "South Pole Carbon Asset Management-Going for Gold?" Harvard Business School Case 709-030, November 2008. (Revised March 2009.)
    30. International Carbon Finance and EcoSecurities

      In late 2007, EcoSecurities had to decide whether to undertake a new Clean Development Mechanism (CDM) project in China. EcoSecurities was an aggregator of carbon credits and also invested directly in projects that produced carbon credits. Governments and firms required to cut their greenhouse gas emissions under the Kyoto Protocol could use carbon credits to fulfill part of their compliance obligations. As demand for UN-issued carbon credits rose, the UN approval process had become increasingly burdensome. The Ventilation Air Methane Project was an opportunity to break into a new sector with large potential, and the economics and risks of the project needed to be assessed.

      Keywords: Non-Renewable Energy; Cost Management; Investment Return; Business and Government Relations; Risk and Uncertainty; Investment; Cash Flow; Valuation; Pollution and Pollutants; Environmental Sustainability; Financial Services Industry; China;

      Citation:

      Perold, Andre F., Forest L. Reinhardt, and Mikell Hyman. "International Carbon Finance and EcoSecurities." Harvard Business School Case 208-151, June 2008. (Revised October 2008.)
    31. Buildings and Energy

      Presents data on opportunities to conserve energy in buildings, which account for about a third of all energy use. Encourages readers to think about the impediments to energy efficiency in the buildings sector and the ways in which entrepreneurs can profitably surmount the obstacles.

      Keywords: Buildings and Facilities; Energy Conservation; Construction; Entrepreneurship; Investment; Innovation and Invention; Performance Efficiency; Environmental Sustainability; Construction Industry;

      Citation:

      Reinhardt, Forest L., and Nazli Uludere. "Buildings and Energy." Harvard Business School Case 708-024, September 2007. (Revised September 2008.)
    32. Suncor in the Oil Sands Industry

      Describes the economics, technology, and politics of the oil sands industry, focusing on one of the industry's leading firms. Oil sands deposits in Alberta represent a potentially vast reserve of hydrocarbons, but the extraction, refining, and transportation challenges are formidable, and the environmental consequences of large-scare oil sands development potentially severe. Encourages students to examine Suncor's strategic positioning and cost structure, and the challenges that the firm's leaders confront as of 2007.

      Keywords: Economics; Non-Renewable Energy; Government and Politics; Supply and Industry; Natural Environment; Competitive Strategy; Environmental Sustainability; Energy Industry; Alberta;

      Citation:

      Reinhardt, Forest L., and Nazli Uludere. "Suncor in the Oil Sands Industry." Harvard Business School Case 708-023, September 2007. (Revised August 2008.)
    33. World Economic Forum (A)

      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, October 2007. (Revised May 2008.)
    34. BP and the Consolidation of the Oil Industry: Supplement

      Keywords: Energy Industry;

      Citation:

      Reinhardt, Forest L., and Nazli Uludere. "BP and the Consolidation of the Oil Industry: Supplement." Harvard Business School Supplement 706-032, December 2005. (Revised May 2008.)
    35. Toyota Motor Corporation: Launching Prius (TN)

      Keywords: Production; Auto Industry; Green Technology Industry;

      Citation:

      Reinhardt, Forest L., and Dennis A. Yao. "Toyota Motor Corporation: Launching Prius (TN)." Harvard Business School Teaching Note 707-558, May 2007.
    36. UBS and Climate Change--Warming Up to Global Action?

      Marco Suter, Executive Vice-Chairman, UBS Board of Directors, carefully studied the chart on his desk. It showed the public commitment of major financial institutions to help mitigate global warming. Evidently, UBS lagged behind its competitors. The graph was part of a report that environmental specialists and senior executives at UBS had compiled. It suggested the company adopt a more progressive policy on climate change. Suter thought about the options that the working group had generated. These ranged from stabilizing the company's current carbon emissions to complete carbon neutrality. The UBS Corporate Responsibility Committee would meet early next week. Suter wondered which option he should support.

      Keywords: Weather and Climate Change; Energy Conservation; Cost vs Benefits; Law; Financial Institutions; Environmental Sustainability; Corporate Accountability; Financial Services Industry;

      Citation:

      Oberholzer-Gee, Felix, Forest L. Reinhardt, and Elizabeth Raabe. "UBS and Climate Change--Warming Up to Global Action?" Harvard Business School Case 707-511, February 2007. (Revised March 2007.)
    37. Toyota Motor Corporation: Launching Prius

      In 1995, Hiroshi Okuda, president of Toyota Motor Corp., considers whether to push for a more aggressive launch of the Toyota Prius--an automobile that incorporates Toyota's new and technically advanced hybrid power train. This launch decision allows discussion of the importance of the Prius in Toyota's overall product strategy and explores issues ranging from market structure to competitive advantage and competitive dynamics.

      Keywords: Environmental Sustainability; Product Launch; Transportation; Brands and Branding; Manufacturing Industry; Green Technology Industry; Auto Industry; Japan;

      Citation:

      Reinhardt, Forest L., Dennis A. Yao, and Masako Egawa. "Toyota Motor Corporation: Launching Prius." Harvard Business School Case 706-458, January 2006. (Revised December 2006.)
    38. Migros

      In October 2005, Urs Riedener, head of marketing at Swiss retailer Migros, is contemplating the company's competitive position. Primarily a retailer for foods and near-foods products, the cooperative Migros, with close to 600 retail outlets in Switzerland (but only four outside its domestic market), is facing stiffer competition, both from existing competitors (such as Coop) and new arrivals (such as hard discounters Lidi and Aldi). Riedener and Migros management have so far always had faith in Migros' position in the marketplace, built around its governance structure (the customers were also the owners, creating a close link between the retailer and the market) and its emphasis on never selling harmful products. Socially, ecologically, and ethically produced products were key aspects of Migros' product offering. Riedener knows that Migros benefited from a unique position--and he wants to make sure that Migros defends it from both new and old competitors.

      Keywords: Competitive Advantage; Corporate Governance; Corporate Strategy; Cooperative Ownership; Supply Chain Management; Product Marketing; Environmental Sustainability; Social Enterprise; Business or Company Management; Marketing Strategy; Retail Industry; Agriculture and Agribusiness Industry; Switzerland;

      Citation:

      Reinhardt, Forest L., Vincent Marie Dessain, and Anders Sjoman. "Migros." Harvard Business School Case 706-028, December 2005. (Revised February 2006.)
    39. E.ON Corporate Strategy

      Examines the corporate strategy of German energy giant E.ON. The firm is vertically integrated, horizontally diversified across electricity and natural gas, and active in numerous countries in Europe as well as in the United States. Explores the costs and benefits of the company's choices about its vertical, horizontal, and geographical scope. Considers the risks of economic regulation, increasing concerns about environmental externalities from carbon emissions and nuclear power, and political and price risks in upstream markets for fossil fuels.

      Keywords: Diversification; Vertical Integration; Corporate Strategy; Globalization; Energy Sources; Economics; Energy Industry; Germany; United States; Europe;

      Citation:

      Reinhardt, Forest L., and Sebastian Frankenberger. "E.ON Corporate Strategy." Harvard Business School Case 706-015, January 2006. (Revised February 2006.)
    40. National Parks Conservation Association

      The National Parks Conservation Association seeks to help the U.S. National Park Service increase its efficiency by incorporating principles of business management so that American national parks will be better managed. Its efforts raise fundamental questions about the roles of government, firms, and nonprofits in a mixed capitalist economy as well as the appropriate differences in managerial practices across sectors.

      Keywords: Nonprofit Organizations; Business or Company Management; Corporate Governance; Government and Politics; Natural Environment; Cooperation; Entertainment and Recreation Industry; Tourism Industry; Public Administration Industry; United States;

      Citation:

      Reinhardt, Forest L., and Briana Huntsberger. "National Parks Conservation Association." Harvard Business School Case 703-045, March 2003. (Revised August 2005.)
    41. Nestle: Sustainable Agriculture Initiative

      Swiss food giant Nestle attempts to improve the performance of its suppliers of agricultural commodities to raise quality, lower costs, and contribute to sustainable development. Its initiatives focus first on coffee, cocoa, and milk. Nestle managers assert that the initiatives deliver both private benefits (better quality and reduced costs to the firm) and social benefits (higher incomes for farmers, better environmental quality in farming regions). Questions include the ways in which these programs create value for shareholders, the manner in which they should be marketed, and their efficacy in addressing social issues.

      Keywords: Corporate Social Responsibility and Impact; Environmental Sustainability; Social Issues; Business and Community Relations; Corporate Strategy; Agribusiness; Supply Chain Management; Marketing Strategy; Value Creation; Food and Beverage Industry; Agriculture and Agribusiness Industry;

      Citation:

      Reinhardt, Forest L. "Nestle: Sustainable Agriculture Initiative." Harvard Business School Case 705-018, December 2004. (Revised May 2005.)
    42. Forest Policy in Malaysia TN

      Teaching Note for (9-792-099).

      Keywords: Forestry Industry; Forest Products Industry; Malaysia;

      Citation:

      Reinhardt, Forest L. "Forest Policy in Malaysia TN." Harvard Business School Teaching Note 794-009, September 1993. (Revised May 2005.)
    43. Swiss Re: Managing the Risks of Global Climate Change

      Examines the potential risks of global climate change to business and the strategies that firms and their insurance providers employ to manage them. Describes the structure and role of the reinsurance industry, providing the context for understanding Swiss Re's approach to managing the risks and identifying potential opportunities due to climate change. As the world's second largest reinsurance company, Swiss Re is exposed to a wide range of risks facing businesses and societies worldwide. Among these risks, those due to natural catastrophes are of particular relevance: the financial costs of such risks have risen steeply since the 1950s and, due to global climate change, are forecast to reach $150 billion per annum within a decade. Includes color exhibits.

      Keywords: Weather and Climate Change; Risk and Uncertainty; Risk Management; Business Strategy; Business and Government Relations; Insurance Industry;

      Citation:

      Reinhardt, Forest L., and Adam Frost. "Swiss Re: Managing the Risks of Global Climate Change." Harvard Business School Case 705-021, February 2005.
    44. Agricultural Biotechnology and its Regulation

      In the United States, genetically modified corn and soybeans are now widely grown and consumed. In Europe, however, they have been dubbed "Frankenstein foods," shunned by packaged food manufacturers, and subjected to a host of governmental restrictions. This case provides information on the economics and politics of agricultural biotechnology. It emphasizes the divergent attitudes in the United States and Europe about how the technology ought to be regulated and highlights the resultant strategic dilemmas for companies in the business, including DuPont, Monsanto, and Novartis. Students can analyze the technology and its regulators from both a normative public policy standpoint (i.e., asking what sorts of regulatory institutions would enhance social well-being) and the point of view of positive political economy (i.e., asking how the regulatory system is likely to evolve given the current institutional setup and the interests of the various public and private players). Raises questions of how firms can develop strategy under conditions of extreme regulatory risk.

      Keywords: Agribusiness; Genetics; Governing Rules, Regulations, and Reforms; Corporate Strategy; Trade; Law; Goods and Commodities; Safety; Environmental Sustainability; Government and Politics; Agriculture and Agribusiness Industry; Biotechnology Industry; Europe; United States;

      Citation:

      Reinhardt, Forest L. "Agricultural Biotechnology and its Regulation." Harvard Business School Case 701-004, July 2000. (Revised April 2001.)
    45. Sustainable Development & Socially Responsible Investing: ABB in 2000

      Several investment firms and mutual funds position themselves as providers or facilitators of opportunities for socially responsible investment. This case addresses the impact of these firms on publicly traded companies. Focuses on managers at ABB, a large multinational based in Switzerland that has tried to be a leader in integrating principles of sustainable development into its business strategies. ABB's managers now need to decide what sorts of relationships they would like to have with the firms in the socially responsible investment community and the extent to which they ought to take the preferences of these firms into account in tailoring their business strategies.

      Keywords: Investment; Corporate Social Responsibility and Impact; Environmental Sustainability; Social Enterprise; Corporate Governance; Business Strategy; Capital Markets; Management Teams; Business and Community Relations; Trade; Electronics Industry; Switzerland;

      Citation:

      Reinhardt, Forest L. "Sustainable Development & Socially Responsible Investing: ABB in 2000." Harvard Business School Case 701-082, March 2001. (Revised April 2001.)
    46. Agricultural Biotechnology Brief, 1999

      Keywords: Business and Government Relations; Environmental Sustainability; Agriculture and Agribusiness Industry; Biotechnology Industry;

      Citation:

      Reinhardt, Forest L., and Jennifer Burns. "Agricultural Biotechnology Brief, 1999." Harvard Business School Case 700-066, October 1999.
    47. Environmental Risk Management at Chevron Corporation

      Chevron Corp., headquartered in San Francisco, manages a worldwide, vertically integrated value chain from the oil well to the gasoline station. Mishandling of oil at any stage of production can damage the natural environment, human health, corporate profitability, or all three. But at the same time Chevron needs to be prudent about the amount of money it spends on measures to manage these risks, and environmental programs within the firm can conflict with a long-standing tradition of decentralized management. To manage risks more efficiently, Chevron executives are contemplating the use of quantitative decision tools that enable operating managers to compute rough benefit-cost ratios for various alternative risk management projects. The case focuses on the pros and cons of using such tools within the context of Chevron's overall system for environmental risk management.

      Keywords: Risk Management; Risk and Uncertainty; Environmental Sustainability; Energy Generation; Supply Chain Management; Metals and Minerals; Management Systems; Management Teams; Trade; Vertical Integration; Energy Industry; Mining Industry;

      Citation:

      Reinhardt, Forest L., Monica M Mandelli, and Jennifer Burns. "Environmental Risk Management at Chevron Corporation." Harvard Business School Case 799-062, March 1999. (Revised April 1999.)
    48. Environmental Risk Management at Chevron Corporation TN

      Teaching Note for (9-799-062).

      Keywords: Energy Industry; Mining Industry;

      Citation:

      Reinhardt, Forest L. "Environmental Risk Management at Chevron Corporation TN." Harvard Business School Teaching Note 799-112, April 1999.
    49. Ciba Specialty Chemicals TN

      Teaching Note for (9-799-086).

      Keywords: Chemical Industry;

      Citation:

      Reinhardt, Forest L. "Ciba Specialty Chemicals TN." Harvard Business School Teaching Note 799-107, January 1999. (Revised March 1999.)
    50. Duales System Deutschland

      Keywords: Germany;

      Citation:

      Reinhardt, Forest L., and Carin-Isabel Knoop. "Duales System Deutschland." Harvard Business School Case 795-074, February 1995. (Revised March 1999.)
    51. Conceptual Overview: "Business and the Environment," An Elective for MBA Students TN

      Intended to assist faculty who teach courses on environmental management at business schools. Other people interested in the relationships between business and the environment may also find it useful.

      Keywords: Science-Based Business; Environmental Sustainability; Business Education; Theory;

      Citation:

      Reinhardt, Forest L. Conceptual Overview: "Business and the Environment," An Elective for MBA Students TN. Harvard Business School Teaching Note 799-123, March 1999.
    52. Duales System Deutschland TN

      Citation:

      Reinhardt, Forest L. "Duales System Deutschland TN." Harvard Business School Teaching Note 799-121, March 1999.
    53. Ciba Specialty Chemicals

      Based on extensive interviews, this case discusses the environmental policies of a successful firm in the specialty chemicals business. Executives at Ciba have differentiated products along environmental lines and have used environmental scrutiny as a tool for cutting costs. Discusses these initiatives and also the firm's efforts to improve its management of environmental risk. Calls attention to the relationships among environmental policies, the competitive position of the firm, and the firm's overall strategy.

      Keywords: Environmental Sustainability; Business or Company Management; Cost Management; Risk Management; Business Strategy; Globalized Firms and Management; Competitive Advantage; Chemical Industry;

      Citation:

      Reinhardt, Forest L. "Ciba Specialty Chemicals." Harvard Business School Case 799-086, January 1999.
    54. Tokyo Electric Power Company TN

      Citation:

      Reinhardt, Forest L. "Tokyo Electric Power Company TN." Harvard Business School Teaching Note 799-040, December 1998.
    55. Metsa-Serla: Environmental Labels in the European Forest Products Markets TN

      Citation:

      Reinhardt, Forest L. "Metsa-Serla: Environmental Labels in the European Forest Products Markets TN." Harvard Business School Teaching Note 799-058, November 1998.
    56. Malaysia in the 1990s (A)

      Keywords: Malaysia;

      Citation:

      Reinhardt, Forest L. "Malaysia in the 1990s (A)." Harvard Business School Case 797-074, January 1997. (Revised November 1997.)
    57. Tokyo Electric Power Company

      Keywords: Utilities Industry; Tokyo;

      Citation:

      Reinhardt, Forest L. "Tokyo Electric Power Company." Harvard Business School Case 797-046, June 1997.
    58. Guide to Macroeconomic Resources on the Internet

      Citation:

      Dyck, Alexander, Forest L. Reinhardt, and Christopher Charron. "Guide to Macroeconomic Resources on the Internet." Harvard Business School Background Note 796-150, April 1996. (Revised February 1997.)
    59. Metsa-Serla: Environmental Labels in the European Forest Products Markets

      Keywords: Labels; Environmental Sustainability; Forest Products Industry; Europe;

      Citation:

      Reinhardt, Forest L., and Pat Markovich. "Metsa-Serla: Environmental Labels in the European Forest Products Markets." Harvard Business School Case 795-148, April 1995. (Revised May 1995.)
    60. StarKist (A) and (B) TN

      Teaching Note for (9-794-128) and (9-794-139).

      Keywords: United States; Mexico;

      Citation:

      Reinhardt, Forest L. "StarKist (A) and (B) TN." Harvard Business School Teaching Note 795-097, January 1995. (Revised April 1995.)
    61. Singapore TN

      Teaching Note for (9-793-096).

      Keywords: Singapore;

      Citation:

      Reinhardt, Forest L. "Singapore TN." Harvard Business School Teaching Note 795-036, October 1994. (Revised April 1995.)
    62. Singapore

      Since winning independence in 1965, Singapore achieved some of the world's highest rates of economic growth. A large part of GDP and employment came from direct investment by multinational companies in low-cost assembly work, but in the 1990s Singapore's rising wage rates increasingly priced it out of these industries. Could Singapore change itself from an assembler and fabricator of Western-designed parts to a designer and marketer of desirable products? Lee Kuan Yew, "the father of Singapore," repeatedly had shown an ability to guide the nation through such transitions. Not only did his successor have no such track record, but the next transition might be the hardest yet.

      Keywords: Transition; Decision Choices and Conditions; Development Economics; Economic Growth; Foreign Direct Investment; Multinational Firms and Management; Employment; Wages; Singapore;

      Citation:

      Reinhardt, Forest L., and Edward Prewitt. "Singapore." Harvard Business School Case 793-096, March 1993. (Revised April 1995.)
    63. Du Pont Freon Products Division (A) and (B) TN

      Teaching Note for (9-389-111) and (9-389-112).

      Citation:

      Reinhardt, Forest L., and Richard H.K. Vietor. "Du Pont Freon Products Division (A) and (B) TN." Harvard Business School Teaching Note 794-046, September 1993. (Revised April 1995.)
    64. Du Pont Freon Products Division (A)

      In 1988, the Du Pont Co. is abruptly confronted with solid scientific evidence that chlorofluorocarbons are destroying the earth's ozone shield. Du Pont, with its Freon brand product line serving markets for foam insulation, electronics solvents, and especially refrigeration, was the world's leading producer of these chemicals. Although no substitutes were currently commercially available, or even proven, Du Pont had to decide what to do. The purpose of the case is to examine how changing science and environmental problems affect competitive conditions and corporate strategy. In particular, the case examines the criteria by which companies formulate policy.

      Keywords: Business Divisions; Policy; Management; Brands and Branding; Production; Service Operations; Natural Environment; Competition; Corporate Strategy; Environmental Sustainability;

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "Du Pont Freon Products Division (A)." Harvard Business School Case 389-111, January 1989. (Revised March 1995.)
    65. Renewable Energy in the United States TN

      Citation:

      Reinhardt, Forest L., and Richard H.K. Vietor. "Renewable Energy in the United States TN." Harvard Business School Teaching Note 795-083, January 1995.
    66. Aracruz Celulose S.A. TN

      Citation:

      Reinhardt, Forest L. "Aracruz Celulose S.A. TN." Harvard Business School Teaching Note 795-095, January 1995.
    67. Brazilian Foundation for Sustainable Development TN

      Citation:

      Reinhardt, Forest L., and Jackie Prince Roberts. "Brazilian Foundation for Sustainable Development TN." Harvard Business School Teaching Note 795-098, January 1995.
    68. Aracruz Celulose S.A.

      Keywords: Pulp and Paper Industry;

      Citation:

      Reinhardt, Forest L. "Aracruz Celulose S.A." Harvard Business School Case 794-049, November 1993. (Revised January 1995.)
    69. StarKist (A)

      Set in April 1990, this case focuses on H.J. Heinz and its subsidiary, StarKist, the largest producer of canned tuna in the United States. During the 1980s, the public became increasingly concerned about tuna fishing practices that killed dolphins. StarKist was the target of a consumer boycott initiated by the environmental community. Worried that bad publicity from the boycott would threaten the StarKist brand name, as well as Heinz's other branded products, senior management at Heinz decided that StarKist would become the first tuna processor to no longer purchase tuna caught by methods that killed dolphins. In making the decision, Heinz executives were not sure how StarKist's two major competitors would react, or how the decision would impact the procurement of raw tuna, StarKist's single largest expense item. Discusses the harvesting (fishing) and processing (canning) sector of the tuna industry. Also discusses the Marine Mammal Protection Act, and U.S. trade sanctions against Mexico and other countries.

      Keywords: Business Subsidiaries; Decision Choices and Conditions; Laws and Statutes; Management Teams; Brands and Branding; Environmental Sustainability; Competition; Mexico; United States;

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "StarKist (A)." Harvard Business School Case 794-128, April 1994. (Revised January 1995.)
    70. StarKist (B)

      Set in November 1993. Intended as a follow-up to the (A) case.

      Keywords: United States; Mexico;

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "StarKist (B)." Harvard Business School Supplement 794-139, April 1994. (Revised January 1995.)
    71. Note on Contingent Liabilities TN

      Teaching Note for (9-794-098).

      Citation:

      Vietor, Richard H.K., Forest L. Reinhardt, and Jackie Prince Roberts. "Note on Contingent Liabilities TN." Harvard Business School Teaching Note 795-091, January 1995.
    72. Environment and International Trade TN

      Teaching Note for (9-794-018).

      Citation:

      Reinhardt, Forest L. "Environment and International Trade TN." Harvard Business School Teaching Note 795-085, January 1995.
    73. Alberta-Pacific Forest Industries, Inc.

      Keywords: Forest Products Industry; Forestry Industry;

      Citation:

      Reinhardt, Forest L. "Alberta-Pacific Forest Industries, Inc." Harvard Business School Case 794-099, April 1994. (Revised December 1994.)
    74. Montana Land Reliance TN

      Teaching Note for (9-794-050).

      Keywords: Real Estate Industry; United States;

      Citation:

      Reinhardt, Forest L. "Montana Land Reliance TN." Harvard Business School Teaching Note 795-028, December 1994. (Revised December 1994.)
    75. Alberta-Pacific Forest Industries Inc. TN

      Citation:

      Reinhardt, Forest L. "Alberta-Pacific Forest Industries Inc. TN." Harvard Business School Teaching Note 795-067, December 1994.
    76. Reading Energy TN

      Citation:

      Reinhardt, Forest L. "Reading Energy TN." Harvard Business School Teaching Note 795-037, November 1994.
    77. Reading Energy: Dr. Irene Brodie, Video

      Citation:

      Reinhardt, Forest L., and Peggy Duxbury. "Reading Energy: Dr. Irene Brodie, Video." Harvard Business School Video Supplement 795-503, October 1994.
    78. Environment and International Trade

      During the 1990s, environmental activists became interested in trade issues for the first time. Whereas GATT, the General Agreement on Tariffs and Trade, had previously been the province of trade specialists, a new poster popular among environmentalists depicted the monster "GATTzilla," devouring the earth, dolphins, and democratic institutions. This case describes the conflict between environmental and trade values as it is manifested in various multilateral institutions and treaties: GATT, especially after its controversial ruling on a United States dolphin protection law; NAFTA, the North America Free Trade Agreement, for which environmental matters have become an unexpected stumbling block; the European Community, as it tries to harmonize member regulations; and multilateral treaties such as CITES (the convention on trade in endangered species), the Montreal Protocol on ozone-depleting substances, and attempts to protect tropical timber.

      Keywords: Trade; Environmental Sustainability; Science-Based Business; Policy; Government and Politics; Agreements and Arrangements; Alliances; Globalization; International Relations; Conflict of Interests;

      Citation:

      Reinhardt, Forest L. "Environment and International Trade." Harvard Business School Case 794-018, September 1993. (Revised October 1994.)
    79. Reading Energy

      Reading Energy builds facilities that produce energy from nontraditional fuels. A privately held, entrepreneurial organization, it has spent six years developing a plan to build a waste-to-energy plant in the town of Robbins, Illinois. The plant would burn municipal solid waste, producing electricity for sale to the local utility. Its economics are driven by the cost of alternative waste disposal technologies (mostly landfills) and by the Public Regulatory Policy Act of 1978, which ensures a market for the power. Reading's project has been delayed by political opposition at both the local and state levels. Robbins is a poor community, and some of Reading's antagonists have invoked environmental justice as a reason to oppose the project. Tom Cassel, the engineer who founded Reading, is negotiating contracts for waste with nearby municipalities. He needs to consider price, risk allocation, and other economic factors, in addition to political and social issues, in designing his firm's strategy and tactics.

      Keywords: Energy Generation; Wastes and Waste Processing; Business and Community Relations; Business Plan; Agreements and Arrangements; Contracts; Risk and Uncertainty; Government and Politics; Environmental Sustainability; Business Strategy; Energy Industry; Utilities Industry; Illinois;

      Citation:

      Reinhardt, Forest L. "Reading Energy." Harvard Business School Case 794-102, March 1994. (Revised October 1994.)
    80. Accounting for Productivity Growth TN

      Teaching Note for (9-794-051).

      Keywords: United States; Singapore;

      Citation:

      Reinhardt, Forest L. "Accounting for Productivity Growth TN." Harvard Business School Teaching Note 795-038, October 1994.
    81. Accounting for Productivity Growth

      Introduces students to the arithmetic of the accounting for national productivity growth. It defines labor productivity, capital productivity, and total factor productivity, describes the relationships among them, and discusses the phenomena that cause them to change over time. Exhibits include data for the United States and other industrial countries, which both show the relationships among the various measures and allow comparison across time and space. The end of the note discusses the 1992 controversy over productivity growth in Singapore. Productivity is an important phenomenon, widely discussed in the newspapers, but rarely even defined. Business students, especially those engaged in country analysis, need to understand the various ways in which it is measured and why those various quantities have changed over time in different nations. Intended for an introductory MBA course.

      Keywords: Performance Productivity; Macroeconomics; Data and Data Sets; Government and Politics; Mathematical Methods; United States; Singapore;

      Citation:

      Reinhardt, Forest L. "Accounting for Productivity Growth." Harvard Business School Background Note 794-051, October 1993. (Revised September 1994.)
    82. Brazilian Foundation for Sustainable Development

      Keywords: Development Economics; Environmental Sustainability; Policy; Brazil;

      Citation:

      Reinhardt, Forest L. "Brazilian Foundation for Sustainable Development." Harvard Business School Case 794-120, April 1994. (Revised August 1994.)
    83. Note on Contingent Environmental Liabilities

      Addresses contingent environmental liabilities that are the result of unforeseen environmental risks where the dollar amount of such liabilities is unknown and depends on future events. In contrast, fines for violating environmental laws are liabilities, but are not considered contingent liabilities as such fines are relatively predictable. Covers liabilities under common law doctrines (including toxic torts), the Resource Conservation and Recovery Act (RCA), and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). In particular, discusses lender liability issues as of 1993 and briefly discusses financial reporting requirements. Concludes with a discussion of strategies for managing such liabilities.

      Keywords: Legal Liability; Risk Management; Natural Environment; Laws and Statutes; Pollution and Pollutants; Governance Compliance; United States;

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "Note on Contingent Environmental Liabilities." Harvard Business School Background Note 794-098, February 1994. (Revised August 1994.)
    84. Montana Land Reliance

      The Montana Land Reliance is a small not-for-profit organization in the business of creating conservation easements on private lands in Montana. The easements preserve the scenic character and recreational value of the lands by precluding subdivision and other forms of real estate development. The Reliance, established only in 1976, has grown rapidly in recent years. At the time of the case, its leaders face the need to define the market they want to serve, determine the right rate of growth, and create the institutional capabilities to capitalize on their early successes.

      Keywords: Private Ownership; Motivation and Incentives; Business or Company Management; Natural Environment; Nonprofit Organizations; Property; Environmental Sustainability; Government and Politics; Montana;

      Citation:

      Reinhardt, Forest L., and Thomas Patterson. "Montana Land Reliance." Harvard Business School Case 794-050, December 1993. (Revised January 1994.)
    85. Du Pont Freon Products Division (B)

      Supplements the (A) case.

      Citation:

      Vietor, Richard H.K., and Forest L. Reinhardt. "Du Pont Freon Products Division (B)." Harvard Business School Supplement 389-112, January 1989. (Revised October 1993.)
    86. Acid Rain: Burlington Northern, Inc. (A) and (B), Teaching Note

      Citation:

      Reinhardt, Forest L. "Acid Rain: Burlington Northern, Inc. (A) and (B), Teaching Note." Harvard Business School Teaching Note 794-033, August 1993. (Revised October 1993.)
    87. Champion International Corporation: Timber, Trade, and the Northern Spotted Owl TN

      Teaching Note for (9-792-017).

      Keywords: Forest Products Industry; North and Central America;

      Citation:

      Reinhardt, Forest L. "Champion International Corporation: Timber, Trade, and the Northern Spotted Owl TN." Harvard Business School Teaching Note 794-034, September 1993. (Revised October 1993.)
    88. Acid Rain: The Southern Company (A) and (B) TN

      Teaching Note for (9-792-060) and (9-793-040).

      Keywords: Pollution and Pollutants; Utilities Industry;

      Citation:

      Reinhardt, Forest L. "Acid Rain: The Southern Company (A) and (B) TN." Harvard Business School Teaching Note 794-043, September 1993. (Revised October 1993.)
    89. Forest Policy in Malaysia

      The governments of Malaysia and the Malaysian State of Sarawak need to assess possible changes in forest policy. Environmentalist pressure threatens traditional market relationships and patterns of business-government interaction. Harvest regulations, subsidies, trade restrictions, environmental controls, and property rights structures are all called into question.

      Keywords: Natural Environment; Policy; Government and Politics; Environmental Sustainability; Trade; Business and Government Relations; Governing Rules, Regulations, and Reforms; Forestry Industry; Forest Products Industry; Malaysia;

      Citation:

      Reinhardt, Forest L. "Forest Policy in Malaysia." Harvard Business School Case 792-099, May 1992. (Revised August 1993.)
    90. Acid Rain: Burlington Northern, Inc. (A)

      Burlington Northern (BN) hauls low-sulfur coal from the northern Great Plains to electric utilities in the Midwest. Acid rain legislation may affect the geographic scope of BN's markets. Railroad managers need to assess the economic effects of acid rain controls and their chances of influencing the controls' structure.

      Keywords: Rail Transportation; Environmental Sustainability; Development Economics; Government Legislation; Natural Environment; Policy; Metals and Minerals; Industry Growth; Industry Structures; Rail Industry; United States;

      Citation:

      Reinhardt, Forest L. "Acid Rain: Burlington Northern, Inc. (A)." Harvard Business School Case 792-018, October 1991. (Revised August 1993.)
    91. Acid Rain: The Southern Co. (A)

      The Southern Co., an electric utility, is planning its compliance with the 1990 amendments to the Clean Air Act. The Act established a system of tradeable permits for sulfur dioxide emissions. The company must decide whether to install pollution control equipment and generate excess permits for sale to other firms, or to emit larger quantities of sulfur dioxide, save capital costs, and purchase pollution permits. Can be used to teach discounted cash flow analysis of a make versus buy decision. Also raises issues of expected cost minimization, questions of economic and political uncertainty, and the value of flexibility.

      Keywords: Energy Generation; Business Strategy; Environmental Sustainability; Cost vs Benefits; Financial Management; Strategic Planning; Investment Return; Government Legislation; Wastes and Waste Processing; Utilities Industry; Energy Industry; United States;

      Citation:

      Reinhardt, Forest L. "Acid Rain: The Southern Co. (A)." Harvard Business School Case 792-060, February 1992. (Revised April 1993.)
    92. Champion International Corp.: Timber, Trade, and the Northern Spotted Owl

      Champion's forest products division owns timberlands, sawmills, and plywood mills in the Pacific Northwest. The listing of the northern spotted owl as an endangered species, and restrictions on exports of logs from state-owned lands, have disrupted the stumpage, log and product markets in which Champion competes. Tag Edwards, executive V.P. for forest products, needs to decide how to respond to these regulatory changes, using economic data and political information.

      Keywords: Science-Based Business; Natural Environment; Product Marketing; Governing Rules, Regulations, and Reforms; Government and Politics; Environmental Sustainability; Corporate Strategy; Trade; Decisions; Management Teams; Forest Products Industry; North and Central America;

      Citation:

      Reinhardt, Forest L. "Champion International Corp.: Timber, Trade, and the Northern Spotted Owl." Harvard Business School Case 792-017, August 1991. (Revised March 1993.)
    93. Acid Rain: The Southern Co. (B)

      In addition to the issues of expected cost minimization elucidated in Acid Rain: The Southern Co. (A), problems involving regulatory uncertainty are critical to the firm's Clean Air Act compliance strategy. The regulatory uncertainty affects, and is affected by, the uncertainties about the price of allowances to emit sulfur dioxide. Provides additional information on the regulatory risks and uncertainties confronting the Southern Co.; permits exploration of the relations between federal environmental regulation and state-level regulation of rates of return.

      Keywords: Energy Generation; Business Strategy; Environmental Sustainability; Cost vs Benefits; Risk and Uncertainty; Strategic Planning; Investment Return; Government Legislation; Wastes and Waste Processing; Business and Government Relations; Utilities Industry; Energy Industry; United States;

      Citation:

      Reinhardt, Forest L. "Acid Rain: The Southern Co. (B)." Harvard Business School Case 793-040, September 1992. (Revised October 1992.)
    94. Acid Rain: Burlington Northern, Inc. (B)

      Citation:

      Reinhardt, Forest L. "Acid Rain: Burlington Northern, Inc. (B)." Harvard Business School Supplement 792-019, August 1991.
    95. USAir and Piedmont in the Airline Industry

      Keywords: Air Transportation Industry;

      Citation:

      Ghemawat, Pankaj, and Forest L. Reinhardt. "USAir and Piedmont in the Airline Industry." Harvard Business School Case 388-031, September 1987.

      Research Summary

    1. Environmental Management

      Forest L. Reinhardt is exploring the strategic and operational problems of firms in environmentally significant industries. His book, Down to Earth: Applying Business Principles to Environmental Management (published in 2000 by Harvard Business School Press), shows that firms' environmental problems can be fruitfully analyzed like other business problems, using traditional tools from marketing, finance, and strategy. The book analyzes the ways in which a company's ability to improve its environmental performance while delivering superior value to shareholders depend on the structure of the industry in which the firm competes and on the firm's own organizational capabilities. Building on this work, Reinhardt is now exploring questions of business strategy and internal firm management in the energy industry and in the food and agribusiness sector, with an emphasis on the management of the international operations of firms.
    2. Energy Strategy

      Forest L. Reinhardt is writing cases and other materials on the strategic problems and opportunitites faced by firms in the energy industry. Significant economies of scale and scope, combined with rapid technological change, present firms in the industry with a complicated set of opportunities and problems. Price volatility, national security considerations, and environmental externalities lead to widespread government intervention in energy markets, creating further problems and opportunities for firms. In-depth analysis of the economics and politics of energy is essential to the design of sensible strategies for firms and governments.