Enhancing Social Capital in South Asia

Since its formation, the India Research Center (IRC) has worked to enhance intellectual capital creation by working with academics and business leaders in South Asia.

The Global Colloquium on Participant-Centered Learning (GloColl) is an HBS course for faculty at business schools in emerging economies who are trained in interactive methods of teaching and learning.

Executive Education
in India

Driving Growth Through Innovation — India

August 2016 (Mumbai, India)
Innovating new products and services in India can be complicated by an unpredictable market and unfamiliar culture. This program helps business leaders develop and market differentiated products and services by identifying and leveraging new opportunities. Participants leave with the latest tools and strategies to manage today's diverse risks and to position their companies for future success.

Maximizing Your Leadership Potential — India

14-17 December, 2015 (Mumbai, India)
This program helps companies build visionary leaders who can manage disruptive change and exploit emerging opportunities in a shifting global economy. By exploring diverse approaches to complex leadership challenges, you will learn how to adapt your management style to the situation at hand, build more productive teams, and lead your organization to greater success across India and the globe.

Leading Growth Through Customer Centricity — India

March 7-10, 2016
(Mumbai, India)

Learn how to create a truly customer-centric organization that can help your business innovate, compete, and grow. Designed for senior executives operating in India and the surrounding region, this new program gives decision-makers new knowledge and tools for transforming an organization that sells products and services into one that delivers differentiated customer value-and sustainable business success.

Building a Global Enterprise-India

April 2016
(Mumbai, India)

This program is designed for senior leaders who seek strategies to expand within and beyond this compelling market. Offered jointly by Harvard Business School and the India Research Center in Mumbai, the program marries on-the-ground, research-based knowledge of India with the global perspective of one of the world's leading business schools-a combination unavailable in any other executive education program.

Improving Corporate Performance and Profitability — India

May 2016
(Mumbai, India)

Build a strategic advantage for your company by implementing powerful performance evaluation systems that drive performance and improve profitability. This leadership program explores how local and multinational companies manage operational risk and create corporate value in India and beyond. You will emerge with a blueprint for capitalizing on growth opportunities in challenging times.

Aligning and Executing Strategy — India

June 2016
(Mumbai, India)

Position your organization for long-term success in the global marketplace by integrating the design and execution of highly effective business strategies. In this intensive program, senior executives who do business in India will explore the core components of strategy building-among them competitive environment and competitive advantage. You will learn how to align your organization in order to optimize your strategy, capitalize on opportunities, and drive growth.

Negotiations and Dealmaking-India

28 Sept - 01 Oct, 2015
(Mumbai, India)

Drive your strategy forward and create value for your firm through stronger negotiation skills that prepare you for any business situation. You will learn how to analyze each deal, overcome obstacles, adapt your strategies to changing conditions, and create value for all parties. Backed by proven negotiation framework, you can get better results-whether you are closing a routine sale or inking a high-stakes deal.

Corporate Social Responsibility - India

October 28 - December 19, 2015
(Mumbai, India)

With well-crafted CSR strategies, companies operating in India can drive sustainable business success, fulfill government mandates-and help to address the country's challenges. In this program, CSR decision makers and NGO executives will explore global best practices for aligning CSR strategies with company goals, integrating CSR throughout the organization, building productive partnerships, and maximizing business and social value.

Managing and Transforming Professional Service Firms-India

04-07 January, 2016
(Mumbai, India)

This program provides firms with proven approaches for managing client expectations, developing staff, and formulating business strategies. Offered jointly by Harvard Business School and the India Research Center in Mumbai, executives will leave the program well positioned to capitalize on growth opportunities in India and beyond.

All Global Executive Education Programs

Latin America


Managing Conflict

Book Chapter in Reshaping Tomorrow: Is South Asia Ready for the Big Leap?

Iyer, Lakshmi
January 2012

Oxford University Press, 2011.


Are Lagging Regions Catching Up with Leading Regions?

Book Chapter in The Poor Half Billion in South Asia

Iyer, Lakshmi, Ejaz Ghani, and Saurabh Mishra
November 2010

No abstract available

Is Decentralization Helping the Lagging Regions?

Book Chapter in The Poor Half Billion in South Asia

Iyer, Lakshmi, Ejaz Ghani, and Saurabh Mishra
November 2010

No abstract available

Business Groups in Emerging Markets: Paragons or Parasites?

Book Chapter in The Oxford Handbook of Business Groups

Khanna, Tarun, and Yishay Yafeh
October 2010

No abstract available


Of Gods and Small Things: Closing the Gap in Corporate Entrepreneurship

Book Chapter in India 2010

Chakravorti, Bhaskar
December 2009

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

Alfaro, Laura
October 2009

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.


Management Accounting in India in Handbook of Management Accounting Research. Vol. 3, edited by Christopher Chapman, Anthony Hopwood and Michael Shields

Kallapur, Sanjay and Ranjani Krishnan
September 2008

This chapter surveys the history, evolution, and current status of accounting systems and practices in India. Tracing the roots of Indian accounting systems to the ancient civilization of the Indus Valley, we discuss the accounting contributions of historical writings such as the Smritis and the Arthashatra. We also discuss the accounting system used by the East India Company. Next we provide an overview of contemporary Indian accounting systems institutions as well as accounting education and curricula. We discuss the prevalence of modern management accounting practices in Indian companies. We conclude with a discussion of future research opportunities provided by India's current status as an emergent economic power.

Elsevier, 2008

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Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours

Khanna, Tarun
September 2007

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.

HBS Press publication expected January 2008

Health Services for the Poor in Developing Countries: Private vs. Public vs. Private & Public

Book chapter in Business Solutions for the Global Poor: Creating Social and Economic Value, edited by V. Kasturi Rangan, John A. Quelch, Gustavo Herrero, and Brooke Barton

Khanna, Tarun, and David M. Bloom
February 2007

San Francisco: Jossey-Bass, 2007

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Bank Financing in India

Cole, Shawn A., A. Banerjee, and E. Duflo
November 2005

Book chapter in India's and China's Recent Experience with Reform and Growth, edited by Wanda Tseng and David Cowen

Palgrave Macmillan, 2005

The Evolution of Concentrated Ownership in India: Broad Patterns and a History of the Indian Software Industry

Book chapter in A History of Corporate Governance around the World: Family Business Groups to Professional Managers, edited by Randall Morck
Khanna, Tarun and Krishna Palepu
March 2005

As in many countries (Canada, France, Germany, Japan, Italy, Sweden), concentrated ownership has been a ubiquitous feature of the Indian private sector over the past seven decades. Yet, unlike in most countries, the identity of the primary families responsible for the concentrated ownership changes dramatically over time. The resulting turnover is perhaps even more than turnover in leading U.S. firms over the same time period. It does not appear that concentrated ownership in India is entirely associated with the ills that the literature has recently ascribed to it in emerging markets. If the concentrated owners are not exclusively, or even primarily, engaged in rent-seeking and entry-deterring behavior, concentrated ownership may not be inimical to competition. Indeed, as a response to competition, we argue that at least some Indian families have consistently tried to leverage internal markets for capital and talent inherent in business group structures to launch new ventures in environments where external factor markets are deficient. In the process they have either failed -- hence the turnover in identity -- or reinvented themselves. Thus concentrated ownership is a result, rather than a cause, of inefficiencies in markets. Even in the low capital-intensity, relatively unregulated setting of the Indian software industry, we find that concentrated ownership persists in a privately successful and socially useful way. Since this setting is the least hospitable to the existence of concentrated ownership, we interpret our findings as a lower bound on the persistence of concentrated ownership in the economy at large.

University of Chicago Press, 2005

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