Christine Lagarde (C): Managing the IMF

Julie  Battilana; Carin-Isabel  Knoop

Case | HBS Case Collection | August 2018

Christine Lagarde (C): Managing the IMF

by Julie Battilana and Carin-Isabel Knoop

Abstract

This case covers the career of Christine Lagarde from 2011 to 2018 as she takes the helm of a troubled multilateral organization during a time of deepening economic turmoil. As the first female leader of the International Monetary Fund (IMF), and as a non-economist, she overcomes early challenges to gain her footing with the multiple constituencies she must serve. She also focuses the IMF on “macro-critical” issues including gender, socioeconomic inequality, and climate change. In 2016, she is reelected to serve another term as Managing Director and considers how to ensure that the IMF remains relevant. For coverage of her childhood to 2005, see “Christine Lagarde (A): A French Prime Minister Calls” (HBS No. 419-017). For coverage of her career from 2005 to 2011, see “Christine Lagarde (B): Being a Public Servant” (HBS No. 419-018). For comprehensive coverage of her evolution and career, see “Christine Lagarde” (HBS No. 419-016).

Keywords: Personal Development and Career; Power and Influence; Change Management; Global Range; Gender; Equality and Inequality; Weather and Climate Change;

Language: English

Format: Print

27 pages

Educators Purchase

Citation:

Battilana, Julie, and Carin-Isabel Knoop. "Christine Lagarde (C): Managing the IMF." Harvard Business School Case 419-019, August 2018.

Dr. Vera Cordeiro founded the NGO Associação Saúde Criança in 1991 to try to help poor families break the cycle of poverty and illness in Brazil. She and her team of employees and volunteers developed a holistic methodology to address the multidimensional sources of poverty based on the pillars of health, housing, citizenship, income, and education. After introducing the seeds of this approach, the case examines the evolution of the organization’s attempts to grow its social impact in Brazil and beyond—including a loose network of sister organizations, social franchising, licensing agreements, and government adoption.

Vox Capital was the first certified impact investing fund in Brazil. Founded in 2009, it provides early-stage capital for companies offering innovative and scalable solutions to enhance the lives of low-income Brazilians, while aiming to simultaneously generate attractive market-rate financial returns for investors. This case examines the evolution of Vox Capital, across understanding the landscape, launching, raising funds, selecting investees, structuring deals, building investee capacities, tracking performance, developing internal systems, and advancing the field of impact investing.

In 2018, New York Times writer Nicholas Kristof and his wife, former Times writer Sheryl WuDunn (HBS ’86) who worked in finance, were planning for their next book. The couple’s earlier books had given rise to social movements around gender equity and poverty issues. They hoped the next book would be equally powerful. What should the book focus on? What additional content should they create to make sure their writing had an impact?

Faculty & Research

Christine Lagarde (C): Managing the IMF

Abstract

Citation:

About the Author

More from the Author