Even though the traditional model of shareholder capitalism has had a remarkable history of delivering jobs, products, wealth, and innovation to societies across the globe, interest in new models of stakeholder capitalism is surging - yet without a common understanding of what such capitalism might entail, and for whom and what it would be responsible.

The Institute for Study of Business in Global Society (BiGS) is being established to provide a research-based platform to address these issues. By integrating and amplifying work already underway and catalyzing new streams of inquiry, BiGS aims to direct the tools and resources of Harvard Business School directly towards the critical areas where business and society overlap and occasionally collide, and to provide business leaders with new ways of thinking about how they and their organizations can help to address some of society's most urgent challenges.

BiGS' work is inter-disciplinary and its purview wide. It involves faculty from across Harvard University and deploys a diverse array of methodologies - including historical analyses, behavioral economics, case-based research, and big data - to explore how capitalism is functioning today, and how the power of business can be harnessed to make it work better. Crucially, the goal of BiGS and its faculty is to tie research to practice, developing insights, tools, and metrics that managers can use to guide their decisions and leadership goals.

As BiGS grows, it will inevitably evolve, shifting in response to the ever-changing landscape of issues confronting the intersection of business and society. During its initial phase, the Institute will focus on several key areas in partnership with a related Initiative and others around the School:

• Climate change and sustainability
• Economic inclusion
• Social diversity, including race, ethnicity, gender, LGBTQ+, and ability