More from these Authors

• Case | HBS Case Collection | August 2018 (Revised July 2020)

  The Fuji-Xerox Merger

  Guhan Subramanian and Annie Zhao

  In January 2018, Xerox, a well-known American digital document firm, convened its board of directors to decide whether to approve a merger with Japanese imaging company Fujifilm. Activist Xerox shareholders were suing to halt the transaction, and documents unearthed during the subsequent discovery process revealed that the deal was negotiated by a conflicted CEO. This case study draws from contemporaneous deal documents and unsealed court records to provide a behind-the-scenes look at the deal dynamics. The case raises important issues of deal process design, negotiations, corporate law, and corporate governance.

  Keywords: Mergers and Acquisitions; Negotiation Deal; Negotiation Process; Corporate Governance; Law;

  Citation:

  Subramanian, Guhan, and Annie Zhao. "The Fuji-Xerox Merger." Harvard Business School Case 919-002, August 2018. (Revised July 2020.)  View Details

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• Supplement | HBS Case Collection | August 2018 (Revised July 2020)

  The Fuji-Xerox Merger (B)

  Guhan Subramanian and Annie Zhao

  Citation:

  Subramanian, Guhan, and Annie Zhao. "The Fuji-Xerox Merger (B)." Harvard Business School Supplement 919-005, August 2018. (Revised July 2020.)  View Details

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• Book | 2020

  Capitalism at Risk: How Companies Can Lead

  Joseph L. Bower, Dutch Leonard and Lynn S. Paine

  Who should take the lead in fixing market capitalism? Business—not government alone. The spread of capitalism worldwide has made people wealthier than ever before. But capitalism's future is far from assured. Pandemics, income inequality, resource depletion, mass migrations from poor to rich countries, religious fundamentalism, the misuse of social media, and cyberattacks—these are just a few of the threats to continuing prosperity that we see dominating the headlines every day. How can capitalism be sustained? And who should spearhead the effort? Critics turn to government. In their groundbreaking book, Capitalism at Risk, Harvard Business School professors Joseph Bower, Herman Leonard, and Lynn Paine argue that while robust governments must play a role, leadership by business is essential. For enterprising companies—whether large multinationals, established regional players, or small startups—the current threats to market capitalism present important opportunities. In this updated and expanded edition of Capitalism at Risk, Bower, Leonard, and Paine set forth a renewed and more urgent call to action. With three additional chapters and a new preface, the authors explain how the eleven original disruptors of the global market system clash with the digital age, and they provide lessons on how to take action. Presenting examples of companies already making a difference, Bower, Leonard, and Paine show how business must serve both as innovator and activist—developing corporate strategies that effect change at the community, national, and international levels. Filled with rich insights, this new edition of Capitalism at Risk presents a compelling and constructive vision for the future of market capitalism.

  Citation:

  Bower, Joseph L., Dutch Leonard, and Lynn S. Paine. Capitalism at Risk: How Companies Can Lead. 2nd ed. Boston: Harvard Business Review Press, 2020.  View Details

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