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• Article | Brookings Papers on Economic Activity | Fall 2020

  Sizing Up Corporate Restructuring in the COVID Crisis

  Robin Greenwood, Benjamin Iverson and David Thesmar

  In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and thus need to be liquidated or reorganized. Many surviving firms will need to be downsized or acquired. In normal times, this triage is supported by the court system, banks, and financial markets. The goal of this paper is to size up the coming surge of financial distress, list the challenges it presents in the current environment, and offer potential policy solutions. Overall, our analysis suggests that the two key issues will be court congestion and excess liquidation and failure of small firms.

  Keywords: COVID-19; Health Pandemics; Economy; System Shocks; Financial Crisis; Restructuring;

  Citation:

  Greenwood, Robin, Benjamin Iverson, and David Thesmar. "Sizing Up Corporate Restructuring in the COVID Crisis." Brookings Papers on Economic Activity (Fall 2020). (Also NBER Working Paper, No. 28104.)  View Details

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• Case | HBS Case Collection | December 2012 (Revised August 2020)

  Rodan + Fields Dermatologists

  Das Narayandas, Michael Roberts and Liz Kind

  The case focuses on issues involved in managing the direct multilevel marketing sales consultants who sell R+F skin care products. The company is trying to better manage the inconsistent and highly variable recruitment behavior of the sales force i.e., the degree to which existing consultants recruit new consultants. The company utilizes a range of periodic incentives for recruitment, but hopes to build a system of salesforce compensation and management that relies more on intrinsic rewards and less on these periodic incentive programs. The case forces students to address principles of compensation system design, as well as more fundamental issues around what they believe motivates this "volunteer" (i.e., non-employee) sales force.

  Keywords: marketing; Marketing; Salesforce Management; Recruitment; Compensation and Benefits; Consumer Products Industry; Beauty and Cosmetics Industry; California;

  Citation:

  Narayandas, Das, Michael Roberts, and Liz Kind. "Rodan + Fields Dermatologists." Harvard Business School Case 513-067, December 2012. (Revised August 2020.)  View Details

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• Technical Note | HBS Case Collection | July 2020

  Digital Natives Growing Without a Sales Force

  Das Narayandas, Michael Norris and Amram Migdal

  This brief case describes the rise of so-called digital natives (also called born-in-digital) in the 2000s and 2010s that successfully grew without a sales force. The case highlights the emergence of business-to-business Internet and cloud-based companies and their decisions regarding sales strategy based on different customer bases. The case discusses the firms Atlassian, Basecamp, and Slack.

  Keywords: Business Growth and Maturation; Customers; Customer Focus and Relationships; Customer Relationship Management; Innovation and Invention; Disruptive Innovation; Innovation Strategy; Technological Innovation; Marketing; Marketing Channels; Marketing Strategy; Product Marketing; Sales; Technology; Information Technology; Internet; Online Technology; Software; Technology Adoption; Information Technology Industry; Australia; North and Central America; United States; Illinois; Chicago; California; San Francisco;

  Citation:

  Narayandas, Das, Michael Norris, and Amram Migdal. "Digital Natives Growing Without a Sales Force." Harvard Business School Technical Note 521-019, July 2020.  View Details

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