March 2-5, 2014
(Harvard Center Shanghai)
Created for Chinese companies and multinationals, this new program shows you how to develop and implement winning competitive strategies. You will learn how to build stronger strategies through identification of your company's true competitive advantage and how to align your organization for strategy execution. The program is offered by HBS and Guanghua School of Management, Peking University.
April 6-11, 2014
Module 1 (CEIBS, Shanghai, China);
May 18-23, 2014
Module 2 (IESE, Barcelona, Spain);
July 20-25, 2014
Module 3 (HBS, Boston, MA, USA)
Enhancing leadership skills and strategic vision, this program prepares Chinese CEOs to build world-class enterprises in a global environment. Jointly developed by Harvard Business School, China Europe International Business School, and IESE Business School, the curriculum explores factors influencing business performance and examines the CEO's role as it relates to strategic, governmental, investor, market, societal, and trade union issues.
April 21-25, 2014 (Harvard Center Shanghai)
Discover how to create strategic alignment by exploring the vital connections between company strategy, economics, and control systems. A collaboration between HBS and Guanghua School of Management, Peking University, this program helps executives design, implement, and manage systems that focus an organization on business goals and in turn, improve performance and enhance corporate value.
HBS brings its pioneering Agribusiness Seminar to China, helping global agribusiness leaders develop new strategies for a changing industry. This premier forum explores global food, fiber, and fuel system dynamics. Through structured learning, idea exchange, and networking, you explore the latest industry challenges and innovations, preparing you to position your organization for future success.
June 22-26, 2014 (Harvard Center Shanghai)
Expand your global intelligence and strategic perspective in a program designed exclusively for OPM alumni and current participants. You will explore the latest research and thinking on global markets, gain valuable insight into China's expanding role in the global economy, and enhance your ability to drive competitive advantage for your business.
(Harvard Center Shanghai)
For Chinese firms expanding internationally, this program delivers perspective and proven frameworks for making key financial decisions. Exploring challenges including funding cross-border growth, leveraging global capital markets, and acquiring companies from different cultures, you will develop the skill and confidence to help your business compete and succeed on a global stage.
July 13-18, 2014
(Harvard Center Shanghai)
To take advantage of opportunities in China, professional service firms must navigate many obstacles in a complex and unfamiliar environment. Offered jointly by the Harvard Business School and the School of Management, Fudan University in Shanghai, this program explores the difficult balancing act required for company leaders who must consistently maintain fiscal discipline while exceeding client expectations, motivating staff, and formulating and executing long-term strategy.
August 10-16, 2014
Module 1 (Tsinghua-SEM, Beijing, China);
October 19-25, 2014
Module 2 (CEIBS, Shanghai, China);
December 7-18, 2014
Module 3 (HBS, Boston, MA, USA)
Offering the latest thinking on China and the global marketplace, this leadership development program helps you build competitive advantage. Jointly developed by Harvard Business School; the School of Economics and Management, Tsinghua University; and China Europe International Business School, the program helps executives renew their perspectives, rethink their role, and manage more effectively.
Abrami, Regina M.,William C. Kirby, and F. Warren McFarlan
At the time of the American Revolution, China was the strongest, richest, and most powerful civilization in the world. The Great Qing Empire ruled China and dominated East Asia by a combination of power and cultural prestige. China's economy was the world's largest. China seemed without peer. Decline came fast. By 1900, China had been invaded, defeated, and degraded, first by Western nations, and then by Japan. An entire system of governance was blown away. In 1911, an imperial tradition of more than 2,000 years ended. After the subsequent disasters of world war and Maoist utopianism, China was an impoverished third world economy holding 20% of the world's population and barely 5% of its economic activity. Today China has again emerged as a great power. Beijing is once more the capital of a multi-ethnic empire that dominates East Asia. Foreign students flock to China to live, study, and work. New infrastructure of airports, highways, railways, electricity, and telecommunications dominate the landscape. It has a powerful government, appears respected in the world, and for the first extended time in modern history, it faces no real external threats to its security. China's resurgence has been driven by a combination of private entrepreneurship and top-down bureaucratic capitalism, by an unmatched and unchecked culture of engineering ambition, of rote learning and educational experimentation, of sophisticated tastes along with basic concerns with food safety. It is a country that is at once cosmopolitan and confused about what its new global roles should be. How will those conflicting strategies, shortcomings, and achievements play out in the future? How do we imagine this great and resurgent nation with its embedded conflicts and challenges will look in 2034? We examine successively the forces that have made China as we know it today, the history and role of the Party, its success in engineering and infrastructure construction, its challenges in planning and innovation, and the special things that a firm must do to compete successfully in the Chinese market. We conclude with China's approach to the global economy and our prognostication for 2034.
Harvard Business Review Press
Groysberg, Boris, and Paul M. Healy
Wall Street equity analysts provide research products and services on publicly traded companies to institutional and retail investors to help them make more profitable investment decisions. During the last ten years, Wall Street research has been battered by a series of shocks. As concerns over conflicts of interest mounted, the integrity of research output was questioned, leading to transformative regulatory changes. New technologies emerged to democratize information and change the way that stocks are traded, threatening the industry's product and business model. There were upheavals and stagnation in established core financial markets such as the U.S., Japan, and Western Europe. And burgeoning new markets in countries such as China and India raised potential challenges to the dominance of leading firms. Our research tells a fascinating story of an industry that has proved remarkably resilient in resolving economic and regulatory challenges. It provides practitioners and scholars with a deeper understanding of the forces that have shaped the industry and accounted for its resilience and how these are likely to influence its future.
Stanford University Press, forthcoming
Evidence from the Firm: A New Approach to Understanding Corruption
Book Chapter in International Handbook on the Economics of Corruption
Cole, Shawn A., and Anh Tran
Due to its clandestine nature, most of what we understand about corruption comes from survey evidence and self-reported perceptions of corruption: this limits both the range of questions that can be asked and the precision of answers that can be provided. This chapter proposes a new lens to understand corruption, using internal records collected from firms that pay bribes. We examine widespread corruption in three industries in an Asian developing country: procurement, pharmaceutical sales, and construction. Using data of real bribes, we provide new estimates of corruption and study its relationship with organizational ownership.
Book chapter in Japanese Multinationals in Foreign Disputes: Do They Behave Differently and Does It Matter for Host Countries?
Wells, L. T., Jr., and Chieko Tsuchiya
No abstract available
The Yearbook on International Investment Law and Policy 2010-2011
Prospects for the Professions in China
Alford, William P., Kirby, William C., and Kenneth Winston
Transnational Management focuses on the management challenges associated with developing strategies and managing the operations of companies whose activities stretch across national boundaries. The purpose of this book is to provide a conceptual framework showing the interplay between the multinational corporation, the countries in which it does business, and the competitive environment in which it operates. Through text narrative, cases, and readings, the authors skillfully examine the development of strategy, organizational capabilities, and management challenges for operating in the global economy.
Engineers and the State in Modern China
Book Chapter in Prospects for the Professions in China
Kirby, William C.
No abstract available
Book Chapter in The People's Republic of China at 60-An International Assessment
No abstract available
Mills, D. Quinn
After discussing higher education's potential contribution to Asia's economic progress and the characteristics (and limitations) of a leading university, Professor Emeritus Daniel Quinn Mills lays out his recommendations for building a world-class university in Asia, including how to hire faculty, build a curriculum, attract and retain students, and achieve top-quality research.
Kirby, William C.
No abstract available
Book Chapter in The Oxford Handbook of Business Groups
Khanna, Tarun, and Yishay Yafeh
No abstract available
Book Chapter in Innovation Policy and the Economy. Vol. 11
Fisman, Raymond, and Eric Werker
In this paper we explore the innovations in governance that have promoted investment and growth. Some policymakers have tinkered with their country's institutions, some have undertaken wholesale changes, while others have attempted to influence the rules in other countries. We survey past attempts at governance innovation, from private governance in India's industrial cities to cross-border government efforts, like Singapore's Suzhou Park, outside of Shanghai, from norm-changing mimes in Bogota to rule-of-law enforcing anti-corruption authorities in Hong Kong. From these recent experiences, we try to extract a few key principles that characterize governance innovations that encourage investment and growth. These include competition, which puts pressure on policymakers to improve institutions; information, which provides necessary knowledge to citizens that can help them push for improved governance; trade in institutions, which allows effective institutions to move across borders; and shifting culture, that is, the jolting of norms to be rule compliant. Finally, we use these principles combined with historical precedent to describe the potential consequences of some recent proposals for governance innovation.
Antrŕs, Pol, and C. Fritz Foley
This paper analyzes the effects of the formation of a regional trade agreement on the level and nature of multinational firm activity. We examine aggregate data that captures the response of U.S. multinational firms to the formation of the ASEAN free trade agreement. Observed patterns guide the development of a model in which heterogeneous firms from a source country decide how to serve two foreign markets. Following a reduction in tariffs on trade between the two foreign countries, the model predicts growth in the number of source-country firms engaging in foreign direct investment, growth in the size of affiliates that are active in reforming countries both before and after the tariff reduction, and an increase in the extent to which the sales of affiliates in reforming countries are directed towards other reforming countries. Analysis of firm-level responses to the creation of the ASEAN free trade agreement yields results that are consistent with these predictions.
Robert J. Barro and Jong-Wha Lee. Oxford University Press, forthcoming
Creating Value through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, and Breakups
Gilson, Stuart C.
A collection of case studies illustrates real-world techniques, implementation, and strategies on corporate restructuring. Over the period 1981-1998, public companies with combined assets of over half a trillion dollars filed for Chapter 11 bankruptcy. Over the same period, over 400 public companies underwent corporate spin-offs, divesting businesses valued at more than $250 billion. Each of these companies, and all of these dollars, were in some way or another involved in corporate restructuring. Gilson's case studies have been used extensively in executive programs and are perfect tools to refer to when faced with real-world corporate restructuring issues.
2nd ed. New York: John Wiley & Sons, Inc., 2010.
Edited by Bruce A. Elleman and Stephen Kotkin
Köll, Elisabeth, Bruce A. Elleman and Y. Tak Matsusaka
This chapter explores issues of how Chinese railroads improved social mobility and standards of living along major trunk lines, and how foreign investment shaped the integration of the Chinese railroad network from the early 1900s to 1949. As this case study of the Tianjin-Pukou line argues, the political context of semi-colonialism and imperialism in the first half of the 20th century framed the emergence and growth of railroad companies in China. This is not to say that individual railroad lines were not able to become substantial business institutions, but different political regimes-colonial authorities, warlords, political factions in the Republican government, and the Japanese-prevented the growth of Chinese railroads into an expansive, strong national railway network during the first half of the 20th century.
New York: M.E. Sharpe, 2009.
Book Chapter in India 2010
Entrepreneurship is frequently associated with a "small thing"-a venture that challenges the status quo and relentlessly pursues opportunity. The large established firms, the "gods," have forever coveted these small things-through incubation, financial support, or acquisition-in their quest for the Next Big Thing. The problem with corporate entrepreneurship, of course, has been that the entrepreneur must deal with the challenges of securing resources and support within an organization focused on operations that are "at scale." Entrepreneurs with miniscule, and often negative, financial contributions compete with mature businesses that are the primary revenue generators for the firm. Revenue is power, and for senior management taking their eyes off the mature businesses can be extremely costly. As a result, corporate entrepreneurship languishes despite its importance to the company's future. I argue that there may be a geographic solution to this dilemma. In such a solution, a fast-growing emerging market plays a central role in orchestrating a complete strategy for corporate entrepreneurship. I also argue that it is time to go beyond the traditional framing of an emerging market. The prescription of this chapter is to think about a more ambitious role for such markets: establish a strategic business unit, designated as a "disruptive innovation hub," that is charged with first penetrating the emerging market with products tailored to local needs and conditions and then leveraging that experience to develop disruptive innovations targeted at a global market. Scale and entrepreneurship-god and small things-can, indeed, cohabit and thrive in the developing world. This combination can become one of its major contributions to the global economy.
Business Standard Books, 2009
Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture
All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early 2000s, the world witnessed an explosion in capital flows at the global level. Gross foreign assets and liabilities stood at two or three times GDP for many countries, as compared to just two decades ago. This explosive growth, especially in emerging markets, has been fueled both by changes in world politics (e.g., the end of the Cold War, collapse of the Soviet Union, shifting political climate in China, and political changes in Latin America and Asia) and advances in technology. Private capital flows-debt finance, equity capital, and foreign direct investment (FDI)-became larger than current and past official capital flows. This new era of foreign capital mobility has also been characterized by low interest rates in industrial countries, growing external imbalances in the U.S. economy, and the rise of China, all of which posed new challenges to policy management. In 2009, the global economy remained mired in a deep crisis following the subprime meltdown in the U.S. The situation was also a true testimony of how intertwined individual economies had become over the years. The effect of policies to deal with the ongoing global crisis and new policy choices remain to be seen. Understanding these phenomena-the determinants of capital flows, the effects of foreign capital on host countries, the impact of exchange-rate movements, and the genesis of financial and currency crises-is a crucial aspect to making informed managerial decisions. The cases in this book have been designed to give students an appreciation of the critical role of institutions and policies in affecting patterns of international capital flows and the abilities of government to manage them effectively. The case studies are tied together by two broad themes: (1) the determinants and effects of international capital, and (2) policy-makers' management of these flows. The cases approach these themes by exploring institutional detail in deep local context. The cases expose students to recent key events that have shaped the way economists think about these subjects. The events covered have a clear global perspective as the cases are set in Africa, Asia, Europe, and Latin America, as well as the United States. The cases also cover events that occurred during the last three decades as not only do they affect the business environment that managers face today but they also hold important lessons. An important feature the cases reveal is the cyclical nature of international capital flows. Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture is composed of three intellectual segments: (1) Determinants and Effects of International Capital Flows, (2) Policies and Strategies for Harnessing the Benefits of Financial Globalization, and (3) Challenges and Policies of Large Economies. Chapter I presents a detailed overview of the cases and readings in the module and relates the cases included to the main patterns of international capital flows in the last thirty years. Finally, the chapter also presents the key insights from the field of international economics covered in the cases as well as the current state of debate among policy-makers.
An Exploration of the Japanese Slowdown during the 1990s
Book Chapter in Japan's Bubble, Deflation and Long-term Stagnation
Comin, Diego A
Why was the 1990s a lost decade for Japan? How is it possible that the Japanese economy stagnated for a decade if none of the shocks that arguably hit the economy seemed to have persisted for much more than three years or so? In this paper I show that the endogenous development and adoption of technologies can propagate these shocks, making their effect much more persistent. When feeding the markup shocks observed in Japan during the early 1990s, the model is able to generate time series for output, TFP, employment, consumption, and investment that track closely the actual data. In particular, the productivity slowdown in the model is as protracted as in the data. Reassuringly, I also find evidence that, as predicted by the model, the speed of technology diffusion slowed down in Japan during the 1990s and R&D expenditures also stopped growing.
Facts and Fallacies about U.S. FDI in China
Book Chapter in China's Growing Role in World Trade
Branstetter, Lee, and C. Fritz Foley
Despite the rapid expansion of U.S.-China trade ties, the increase in U.S. FDI in China, and the expanding amount of economic research exploring these developments, a number of misconceptions distort the popular understanding of U.S. multinationals in China. In this paper, we seek to correct four common misunderstandings by providing a statistical portrait of several aspects of U.S. affiliate activity in the country and placing this activity in its appropriate economic context.
Platform Rules: Multi-Sided Platforms As Regulators
Boudreau, Kevin J., and Andrei Hagiu
This chapter provides a basic conceptual framework for interpreting non-price instruments used by multi-sided platforms (MSPs) by analogizing MSPs as "private regulators" who regulate access to and interactions around the platform. We present evidence on Facebook, TopCoder, Roppongi Hills, and Harvard Business School to document the "regulatory" role played by MSPs. We find MSPs use nuanced combinations of legal, technological, informational, and other instruments (including price-setting) to implement desired outcomes. Non-price instruments were very much at the core of MSP strategies.
Platforms, Markets and Innovation
Chinese General Management: Tsinghua-Harvard Text and Cases
McFarlan, F. Warren, and Guoqing Chen
This is a text and case book for the Chinese business higher education market. It is a combination of seven chapters (six original ones) covering China's financial markets, governance in the global information economy, control, operations and supply-chain management, marketing management, and governance. These chapters are combined with seventeen field cases written in China by members of the HBS/Tsinghua faculty, which illustrate the complexity of problems facing Chinese general managers. This book is a direct outgrowth of the combined work done by HBS and Tsinghua's School of Economics and Management over the past three years in developing its "Senior Executive Program for China."back to top
China and the World: Internationalization, Internalization, Externalization
Kirby, William C., and Dayong Niu
Beijing: Hebei People's Press, 2007
Southeast Asia and the Political Economy of Development
Book Chapter in Southeast Asia in Political Science: Theory, Region, and Qualitative Analysis edited by Erik Martinez Kuhonta, Dan Slater and Tuong Vu
Abrami, Regina M. and Richard Doner
This chapter assesses the contribution of contemporary qualitative research on Southeast Asia to the field of political economy. Specifically, we examine Southeast Asia research on the origins of economic institutions and their influence on economic performance. We show how similar institutions vary in their impact and are influenced by local contexts. After providing a critical review of Southeast Asia-related research on the political economy of development, the chapter identifies how social and political institutions shaped the region's market-based economies, the origins of these institutional arrangements, and the origins and impact of institutions from the less-studied post-socialist economies, especially Vietnam.
Palo Alto, CA: Stanford University Press, forthcoming
China and India, occupied by a third of the world's population, are undergoing social and economic revolutions that are capturing the best minds and money of Western business. This book presents a new view of development, centered around entrepreneurial behavior by both public and private sectors. The author charts China's and India's trajectories of development-where they overlap and complement each other, and where they diverge and compete with one another. There are opportunities for Western companies to participate in this development. This book should serve as an excellent beginning of that participation. Through a series of intriguing comparisons, Khanna probes the salient, practical differences between China and India in such areas as information and transparency, the roles of
capital 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. The differences suggest how these two countries will develop further, how their paths will cross and diverge, what they can learn from and contribute to each other, and, ultimately, how they will reshape the world around them in terms of business, politics, and society at large.
Boston, MA: Harvard Business School Press, 2008
Making Foreign Investment Safe: Property Rights and National Sovereignty
Wells, Louis T.
New York: Oxford University Press, 2007
Vietor, Richard H.K.
As the world globalizes, countries compete for the markets, technologies, and skills needed to raise their standards of living. These strategies can make--or break--the government's efforts to drive and sustain growth. In "How Countries Compete," Richard Vietor sheds light on ways in which governments can best set direction and provide a healthy climate for a nation's economic development and profitable private enterprise. Drawing on history, economic analysis, and interviews with executives and officials around the globe, Vietor provides concentrated examinations of different approaches to government facilitation of development. Individual chapters focus on the unique social, economic, cultural, and historical forces that shape governments' approach to economic growth. Countries discussed include: China, India, Japan, Singapore, the United States, Mexico, Russia, Saudi Arabia, and South Africa. Vietor challenges the widespread notion that, in market-driven economies such as the United States, a strong government can only hinder business success. A provocative resource, "How Countries Compete" offers potent insights into how the business environment has evolved in crucial nations--and what its trajectory might look like in the future.
Boston: Harvard Business School Press