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• Working Paper | HBS Working Paper Series | 2020

  How Do CEOs Make Strategy?

  Mu-Jeung Yang, Michael Christensen, Nicholas Bloom, Raffaella Sadun and Jan Rivkin

  We explore the critical question of how executives make strategic decisions. Utilizing a new survey of 262 CEO alumni of Harvard Business School, we gather evidence on four aspects of each executive’s business strategy: its overall structure, its formalization, its development, and its implementation. We report three key results. First, different CEOs use markedly different processes to make strategic decisions; some follow highly formalized, rigorous, and deliberate processes, while others rely heavily on instinct and intuition. Second, more structured strategy processes are associated with larger firm size and faster employment growth. Third, using a regression discontinuity centered around a change in the curriculum of Harvard Business School’s required strategy course, we trace differences in strategic decision making back to differences in managerial education.

  Keywords: strategy; management; productivity; CEO;

  Citation:

  Yang, Mu-Jeung, Michael Christensen, Nicholas Bloom, Raffaella Sadun, and Jan Rivkin. "How Do CEOs Make Strategy?" Harvard Business School Working Paper, No. 21-063, October 2020.  View Details

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• Technical Note | HBS Case Collection | October 2020

  Organizational Reinvention

  Ryan Raffaelli

  This note is designed to introduce students to the fundamental concepts of leading innovation in established organizations. Reinvention is a process whereby organizations respond to changes in the environment that threaten their core business model, technologies, cultural values, and/or operational norms. Reinvention represents a managerial paradox for organizations that have experienced several years of success: leaders must preserve some elements of the business that once made it successful and simultaneously change other elements that, if left unattended, could render the organization obsolete. The Note outlines four elements associated with organizational reinvention: 1) Understanding technology lifecycles and s-curves: What are technology lifecycles and s-curves?; 2) Reinvention by extending existing capabilities: How do leaders extend existing organizational capabilities in response to new technologies?; 3) Reinvention by adopting new capabilities: How do leaders adopt new capabilities in response to new technologies?; 4) Readying your organization for reinvention: How do leaders develop the right mindset and the right team to engage in a reinvention effort? Finally, the Note includes several diagnostic tools that students and executives can use to analyze an organization’s readiness for reinvention.

  Keywords: innovation and strategy; Leadership and Change Management; Organizational ambidexterity; exploration and exploitation; Innovation and Management; Innovation Leadership; Leading Change; Technology Adoption; Change Management; Organizational Change and Adaptation;

  Citation:

  Raffaelli, Ryan. "Organizational Reinvention." Harvard Business School Technical Note 421-041, October 2020.  View Details

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• Supplement | HBS Case Collection | September 2020

  The Reinvention of Kodak (A) Case Supplement

  Ryan Raffaelli

  This case includes links to case supplement videos for students to view with the written case before class, and also supplement videos for faculty to use exclusively during class.

  Citation:

  Raffaelli, Ryan. "The Reinvention of Kodak (A) Case Supplement." Harvard Business School Multimedia/Video Supplement 421-707, September 2020.  View Details

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