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• Article | Industrial and Corporate Change | April 2020

  Long-term Firm Growth: An Empirical Analysis of U.S. Manufacturers 1959–2015

  Giovanni Dosi, Marco Grazzi, Daniele Moschella, Gary P. Pisano and Federico Tamagni

  Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational “fitness” within a competitive environment, firm growth is also a central concern to both the practice and theory of business strategy. Despite both its theoretical and practical importance, though, growth remains a poorly understood property of firms. While previous studies have documented the fat-tailed nature of firm growth rates, we know far less about the patterns of growth rates over long periods of time. For instance, do “fast growers” tend to maintain their relative growth rates advantages over long periods or is superior growth a transitory phenomenon? Is, as predicted by evolutionary and capability-based theories of the firm, the process of firm growth path-dependent or is it more akin to a random walk? The answers to these questions are central to building a robust theory of firm growth. This article attempts to address this gap in our empirical knowledge of firm growth using a dataset that spans 50 years, which allows the abandonment of the assumption, common to all incumbent studies, that the stochastic paths of all firms stem from the same generating process. These exploratory results indicate that growth rate persistence is there and may be even substantial for some firms, but it is rare. We also study the links between the micro-properties of firm growth within sectors and the patterns of aggregate growth of these same sectors. Indeed, we find circumstantial but widespread evidence that heterogeneity across firms correlates with industry dynamism.

  Keywords: firm growth; Organizations; Growth and Development; Theory; Analysis; Production; Data and Data Sets;

  Citation:

  Dosi, Giovanni, Marco Grazzi, Daniele Moschella, Gary P. Pisano, and Federico Tamagni. "Long-term Firm Growth: An Empirical Analysis of U.S. Manufacturers 1959–2015." Industrial and Corporate Change 29, no. 2 (April 2020): 309–332.  View Details

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• Teaching Note | HBS Case Collection | March 2018 (Revised February 2020)

  Improving Access at VA

  Ryan W. Buell and Robert S. Huckman

  In 2015, the Department of Veterans Affairs (VA) ran the largest healthcare system in the United States, with over 1,700 sites of care that served nearly 9 million veterans. One year earlier, a scandal had erupted over a cover-up of the excessive wait times veterans faced to get medical appointments in some VA facilities. The fallout led to the resignation of the Secretary of Veterans Affairs, a criminal investigation by the Federal Bureau of Investigation, and the eventual replacement of 14 of VA’s top 17 leaders. This case documents the efforts of the new leadership team to improve access, regain trust, and transform the organization to address the broadening medical needs of the nation's growing veteran population. Teaching Note for HBS No. 617-012.

  Keywords: Service Operations; Service Delivery; Social Issues; Health Care and Treatment; Government Administration; Performance Improvement; Public Administration Industry; Health Industry; United States;

  Citation:

  Buell, Ryan W., and Robert S. Huckman. "Improving Access at VA." Harvard Business School Teaching Note 618-052, March 2018. (Revised February 2020.)  View Details

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• Article | Milbank Quarterly

  Toward a Corporate Culture of Health: Results of a National Survey

  Michael Anne Kyle, Lumumba Seegars, John M. Benson, Robert J. Blendon, Robert S. Huckman and Sara J. Singer

  Context: The private sector has a large potential role in advancing health and well-being, but attention to corporate practices around health tends to focus on a narrow range of issues and on large businesses. Systematically describing private sector engagement in health and well-being is a necessary step toward understanding the current state of the field and developing an agenda for businesses going forward.
  Methods: We conducted a national survey of 1,017 private sector organizations to assess current levels of engagement in what we term a culture of health (CoH). We measured corporate CoH along four dimensions, which assess the extent to which businesses promote employee, environmental, consumer, and community health and well-being.We also explored potential explanations for the number of health-related actions taken in each dimension.
  Findings: On average, businesses took 38% of health-related actions included in our survey. For each dimension, we found variation among businesses in the number of actions taken (on average, there were almost fourfold differences between the bottom and top quartiles of businesses in terms of actions taken). Mentioning health and well-being in the corporate mission, having a strategic plan for CoH, and perceiving a positive return on CoH investments were all associated with businesses’ actions taken. Fewer than half of businesses, however, perceived a positive return on their CoH investments.
  Conclusions: Overall, the private sector is taking steps to foster health and well-being. However, there remains substantial variation among businesses and opportunity for growth, even among those currently taking the most action. Strengthening the business case for a corporate CoH may increase private sector investments in health and well-being. Actions taken by individual businesses, business groups, industries, and regulators have the potential to improve corporate engagement and impact.

  Keywords: Corporate Health; social determinants of health; Health Policy; public health; Organizations; Health; Policy; Surveys;

  Citation:

  Kyle, Michael Anne, Lumumba Seegars, John M. Benson, Robert J. Blendon, Robert S. Huckman, and Sara J. Singer. "Toward a Corporate Culture of Health: Results of a National Survey." Milbank Quarterly 97, no. 4 (December 2019): 954–977.  View Details

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