Richard Hamermesh is a Baker Foundation Professor of Management Practice at the Harvard Business School where he was formerly the MBA Class of 1961 Professor of Management Practice. Currently, Richard is the faculty co-chair of the HBS/Kraft Precision Medicine Accelerator as well as the faculty co-chair of HBS’s new Executive Education program, Accelerating Innovation in Precision Medicine.
Richard created and taught the second-year MBA elective, Building Life Science Businesses. Previously, he was the Course Head for the required first year course, The Entrepreneurial Manager. In addition, Richard participates in several HBS Executive Education programs.
Richard was the founding Faculty Chair of the HBS Healthcare Initiative and has been instrumental in expanding the role of healthcare in MBA education and faculty research. Today, over 10% of students enrolled at Harvard Business School are pursuing careers in healthcare.
From 1987 to 2001, Richard was a co-founder and a Managing Partner of The Center for Executive Development, an executive education and development consulting firm. Prior to this, from 1976 to 1987, he was a member of the faculty of the Harvard Business School.
Richard is also an active investor and entrepreneur, having participated as a principal, director, and investor in the founding and early stages of over 20 organizations. These have included start-ups, leveraged buy-outs, industry roll-ups, and non-profit foundations. He was the founding president of the Newton (MA) Schools Foundation and served on the editorial board of the Harvard Business Review. Richard has served on numerous Boards of Directors, and has chaired the Audit Committees of two public companies. He is currently on the Boards of three corporations. From 1991 to 1996, he was the founding Chairman of Synthes Spine, Inc.
Among his recent publications are: "How Medical Nonprofits Set Winning Strategy," "How Harvard Business School is Advancing Precision Medicine," "Dementia Discovery Fund,” and "Intermountain Healthcare: Pursuing Precision Medicine" and, Richard is the author or co-author of five books, including New Business Ventures and the Entrepreneur. His best-known book, Fad-Free Management, was published in 1996. He has published numerous articles and more than 100 case studies. Richard received his AB from the University of California, and his MBA and DBA from HBS. He is married, has two children, and four grandchildren. His hobbies include tennis, skiing, and yoga.
Andrews, K., J. Bower, C. R. Christensen, R. Hamermesh, and M. E. Porter. Business Policy: Text and Cases. 6 Homewood, IL: Richard D. Irwin, 1986.
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Christensen, C. Roland, Kenneth R. Andrews, Joseph L. Bower, Richard G. Hamermesh, and Michael E. Porter. Business Policy: Text and Cases. 5th ed. Homewood, IL: Richard D. Irwin, 1982.
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Precision Medicine requires large datasets to identify the mutations that lead to various cancers. Currently, genomic information is hoarded in fragmented silos within numerous academic medical centers, pharmaceutical companies, and some disease-based foundations. For new precision therapies to be developed, these data sets need to be shared broadly. Patients can help lead this effort by exercising their right to have their anonymized data made more broadly available.
Richard G. Hamermesh, Robert S. Huckman, Barbara McNeil, Joseph P. Newhouse and Cara Sterling
Citation:
Hamermesh, Richard G., Robert S. Huckman, Barbara McNeil, Joseph P. Newhouse, and Cara Sterling. "The Harvard Contest That's Trying to Improve Health Care Delivery."Harvard Business Review (website) (October 2, 2015). (As part of Measuring Costs and Outcomes in Health Care, a collaboration of the editors of Harvard Business Review and the New England Journal of Medicine.)
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The case is set in March 2019, and tells the story of the founding of the Dementia Discovery Fund (DDF). The idea for the fund began in 2015, when then-Prime Minister David Cameron spoke about the importance of making breakthroughs in dementia research, and pledged money from the UK government for research. This in turn led to the search for a venture capital (VC) firm that could lead manage a fund, and the selection of SV Health to do that, including having Kate Bingham as a managing partner. The case describes the social and scientific needs for more dementia research, as well as the fundraising and initial team building of the fund. After the fund grows beyond the expected size, the case describes the hiring of a CEO, and asks what the next investment for the fund should be: a start-up that might soon be able to launch clinical trials, or an early-stage company with promising new research?
Hamermesh, Richard G., Robert S. Huckman, and Julia Kelley. "Intermountain Healthcare: Pursuing Precision Medicine." Harvard Business School Teaching Note 820-019, July 2019.
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It is early 2018, and Emily Park, managing director of impact for the Abreu Family Office, is meeting the next day with Tomás and Maria Abreu to discuss the various ways in which the Abreus can allocate a planned $100 million to make a meaningful difference in cancer patients’ lives. Park has spent the past few months working on this project and has uncovered a multitude of options, from supporting high-performing disease-focused organizations through venture philanthropy; to investing in a fund or directly into ventures and possibly earning a good return on investment in the process; to helping address system-wide issues such as the better organization and funding of clinical trials. As she prepares to present her findings to the Abreus, she wonders which one(s) will spark their interest as the way to have the most meaningful impact, and what implications their ultimate decision will have on the Family Office in terms of its capital outlays, structure, staffing, and many other categories.
Hamermesh, Richard G., and Matthew G. Preble. "The Multiple Myeloma Research Foundation's Answer Fund." Harvard Business School Case 818-045, May 2018.
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Hamermesh, Richard G., and John J. Lafkas. "Hawk Electronics, Inc. (Brief Case)." Harvard Business School Teaching Note 918-522, April 2018.
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Hawk Electronics ("Hawk") presents the problems that a company can encounter when its divisions have distinct strategies, especially when one division has been favored at another's expense. It also highlights how such problems can reflect cognitive biases, which influence resource allocation decisions by senior executives. Further, the case challenges students to develop an action plan for Hawk's CEO. The case begins with excerpts from a letter that Jorge Martinez, the president of Hawk's Peripheral Division and a member of Hawk's Board of Directors, has written to Sarah Chan, Hawk's CEO. Martinez is concerned about the resources that Chan has funneled away from his division to fund outside ventures. Martinez feels that this pattern of resource allocation, and the consequences ensuing from it, make his division unable to compete. He also believes Chan's decisions threaten Hawk's long-term viability. Chan needs to respond to the issues raised in Martinez's letter, but she believes her decisions have been largely correct.
Hamermesh, Richard G., and George Riedel. "The National Football League and Brain Injuries (B)." Harvard Business School Supplement 818-082, January 2018.
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Headquartered in Salt Lake City, Intermountain Healthcare operates 23 hospitals and hundreds of clinics in Utah and Idaho and provides insurance to approximately 850,000 patients through its insurance arm, SelectHealth. In 2013, Intermountain, known for its commitment to improving health care outcomes and lowering costs by reducing treatment variation, made the surprising decision to invest significant resources in an innovative precision medicine unit, which would provide life-extending, genetically targeted therapies to late-stage cancer patients. Precision medicine was associated with treatment variation and high costs, the latter being of particular concern given that Intermountain often served as both payer and provider for its patients. But Intermountain’s management was convinced by Lincoln Nadauld, MD, PhD, who joined Intermountain’s oncology team in 2013 and spearheaded the creation of Intermountain Precision Genomics (IPG). By 2016, IPG had a cutting-edge genomic sequencing laboratory that provided sequencing services to Intermountain and non-Intermountain physicians, and IPG’s team had conducted research indicating that targeted therapies administered through IPG extended patient lifespans but increased overall costs. Now, in mid-2017, IPG is undergoing a major transition as it prepares to outsource the bulk of its genomic testing volume to Navican Genomics, a for-profit, Intermountain-owned spinoff. As Nadauld contemplates the future of IPG, he must evaluate two exciting opportunities, and students are asked to consider where Nadauld should focus IPG’s resources: should IPG partner with Intermountain’s behavioral health team to conduct joint research on the relationship between genetic markers and antidepressant effectiveness, or should IPG push for the testing of a large biorepository, which will cost $12 million but could lead to the identification of new precision medicine applications? More broadly, students will also need to consider the ways in which IPG complements or conflicts with Intermountain’s mission and culture.
Hamermesh, Richard G., and Carin-Isabel Knoop. "Neurotrack and the Alzheimer's Puzzle." Harvard Business School Teaching Plan 817-140, May 2017.
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Thaddeus Fulford-Jones and Eric Weiss, founders of healthcare technology startup Radial Analytics, have been busy developing a software program designed to save hospitals money and improve patient outcomes by producing customized care plans for patients leaving the hospital. Having piloted the program at an urban hospital in Massachusetts, they’re ready to disseminate the software to other accountable care organizations and bundled-payment hospitals. The case explores the issues the two entrepreneurs consider as they pursue the funding, clients, and business strategy that will allow them to scale their company and cut waste in Medicare spending.
In mid-2016, the Broad Institute and the University of California, Berkeley were in the middle of a contentious patent dispute over which entity controlled a breakthrough gene editing technology called CRISPR-Cas9. With CRISPR-Cas9, scientists might soon be able to cure previously incurable genetic diseases such as sickle cell anemia and cystic fibrosis, among many others. The dispute had escalated to the point where the U.S. Patent and Trademark Office (USPTO) declared a patent interference and began a process to determine the intellectual property’s (IP) rightful owner. The USPTO’s decision would not only have serious commercial implications—the technology would be immensely important to biotechnology firms looking to develop gene therapy products and was, therefore, sure to generate strong revenues for whichever entity owned the IP—but would also essentially award scientific credit for this technology and thus impact the reputations of the scientists on both sides who had worked so hard to discover the tool. This case touches upon a number of other key issues, too: the ethical implications of gene editing; the state of IP and licensing in the biotechnology industry; the impact of lawsuits on developing new technologies and companies; and who should own platform technologies built, at least in part, by the research of multiple parties and government funding.
Hamermesh, Richard G., and Matthew G. Preble. "The CRISPR-Cas9 Quarrel." Harvard Business School Case 817-020, October 2016. (Revised September 2017.)
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The Ochsner Health System has developed a proprietary software tool designed to treat hypertension. Built into the system’s electronic medical records, the Hypertension Digital Medicine program allows patients to record their blood pressure at home and share readings with their medical providers in real time. A year and a half after launching the program, the health system’s internal startup, innovationOchsner, has gathered promising clinical results and validation from the medical community. The case explores the challenges Ochsner faces in scaling and disseminating the program to other healthcare providers.
Elli Kaplan founded Neurotrack in 2012 with a breakthrough noninvasive cognitive diagnostics test that will detect Alzheimer's disease in its earliest pre-symptomatic stages. While the company has gained great traction in the three years since it was started, with no therapeutic product available in the foreseeable future, Kaplan is considering whether it is time to change the company's business model.
In January 2011, Mohamed Azab, founder and CEO of health care investment firm Seha Capital, made his first health care investment in Hassab Labs, a diagnostic lab in Alexandria, Egypt. Weeks later, a revolution erupted across the country as the Arab Spring swept through the region, and Azab spent the following years active in both the protests and in restructuring and expanding Hassab Labs. From 2011 to 2014, he opened 25 new branches, quadrupled staff, and more than doubled net income. By the end of the revolution in 2014, Hassab Labs was among the top five chains in the country. In October 2014, Seha partially exited Hassab Labs in a sale to an African conglomerate, SAHAM Group. At the same time, Azab learned that foreign investors in a small private hospital in Egypt were looking to exit the market. While Seha's mission was to build diagnostic, hospital, and pharmacy chains in Egypt, Azab had not been planning to enter the hospital market until he further expanded the diagnostic labs. In late 2014, Azab must decide if he should focus on expanding Hassab Labs, either in Egypt or across Africa, or invest in the hospital.
Hamermesh, Richard G., and Matthew Preble. "The National Football League and Brain Injuries." Harvard Business School Teaching Plan 815-134, June 2015.
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In 2015, Chris Godfrey, founder and CEO of Bloodbuy, has to consider the best path to growth for his young company, which is attempting to disrupt the blood donation industry.
This case examines an exciting new approach to health care that will help care providers identify when hospice services are the appropriate type of care for patients. The company, Medalogix, already has a product on the market that uses a proprietary algorithm to consider dozens of factors and determine when a patient qualifies for a hospice care eligibility review. The product has started to gain traction, and the case explores how Medalogix can scale and disseminate its innovative product.
The Crucell (B) case updates events at Crucell since 2009. In September, 2009, Johnson & Johnson acquired 18% of Crucell for $400 million. This investment was part of a business development deal. Subsequently, in 2012, Johnson & Johnson acquired Crucell for $2.8 billion.
By 2009, Crucell had become the largest biopharma company in the Netherlands and a symbol of national pride. The case traces the evolution of the company from a University spin-off into a fully-integrated company. Crucell's success, particularly in the vaccine space, had begun to attract the attention of much larger pharmaceutical companies. While there was much appeal to working with these companies, these relationships could also challenge Crucell's independence. This issue is highlighted by the decision whether to partner with companies that wanted ownership of 10-20% of Crucell as part of the business development deals.
The National Football League (NFL) was both the most popular spectator sport in the U.S. and a major economic entity, taking in roughly $10 billion a year in revenue. However through the early twenty-first century, an increased understanding of the long-term effects of head injuries on NFL players indicated a serious threat to the long-term viability of the game. Particularly concerning was the indication that some deceased professional football players had developed chronic traumatic encephalopathy (CTE)—a neurodegenerative disease which had a strong influence on a person's mental and physical health—most likely as a result of repetitive hits sustained during their football careers and which may have contributed to their deaths.
Over 4,000 retired players had jointly sued the NFL over the head injuries they had sustained during their time in the NFL and the resulting health problems they attributed to these injuries. In part, the lawsuit alleged that the NFL had not been forthcoming with players about the health risks of head injuries. The two sides had reached a tentative $765 million settlement in 2013, the bulk of which would go to compensating retired players suffering from such diseases as Alzheimer's or dementia.
While this settlement compensated retired players, it was not applicable to current or future players. Could the NFL preserve the sport by making it safer through new rules or equipment changes, or was football an inherently physical game that no amount of new rules or equipment could make completely safe? Were current and future players, now knowing full well the potential long-term health implications of football, tacitly accepting the risks involved? As a team owner, is now the time to sell while franchise value and fan support are at their peaks, or will the business of the NFL be viable for years to come?
What do you do when your rising professional career is cut short by an unexpected cancer diagnosis? Kathy Giusti shifted careers, built a new organization that transformed how cancer research is done, and now faces the challenge of sustaining the organization and its funding for its newest venture.
Since she was first diagnosed with multiple myeloma (MM) in 1996, Giusti had led an effort to better understand and treat the disease. She had co-founded the Multiple Myeloma Research Foundation (MMRF), helped form the Multiple Myeloma Research Consortium (MMRC), and brought together a diverse body of academics, researchers, pharmaceutical and biotech companies, physicians, and patients to combine their efforts around the disease. The MMRF had helped facilitate clinical trials for promising drugs, sponsored research, and raised a substantial amount of money for these purposes.
In 2014, the MMRF was in the midst of its CoMMpass program; a multi-year effort to collect tissue samples from 1,000 patients at key junctures in their disease, sequence these samples to better understand the genetic underpinnings of MM and its many sub-types, and thus enable researchers to study a comprehensive sampling of patients. CoMMpass also had a patient-facing element which allowed the patient community to communicate with one another and with professional moderators. By mid-2014, some 550 patients were enrolled and 85 hospitals were participating.
As a non-profit, the MMRF had historically relied on donations to fund its research operations. Giusti wanted to find a way to ensure a reliable revenue stream for the organization and give it greater financial stability. The MMRF had historically given away its resources and knowledge for free in order to speed research; Giusti worried if charging for some of its functions would be at odds with its mission and historical practices. She worked with her executive team to examine potential sources of revenue, and to decide if this was the right thing to do.
In May 2013 the co-founders and co-CEOs of salaUno, Javier Okhuysen and Carlos Orellana, were encouraged by the results of their fledgling start-up. salaUno was founded as a for-profit enterprise in order to have the capital needed for rapid growth and to fulfill its mission of Eliminating Needless Blindness in Mexico. salaUno had grown from doing 75 cataract surgeries in its first month of operation to a high of 388 surgeries 21 months later. This case explores the challenges in scaling up a healthcare venture within a developing country.
On September 11, 2013, the three-judge panel of the U.S. Court of Appeals for the Federal Circuit denied St. Jude's request to rehear an appeal on the "double patenting" ruling for the '439 patent. Further, it removed the injunction threat that was hanging over the company. The future looked bright for AccessClosure as 2013 drew to a close. The company expected 2014 revenues of more than $100 million with a gross margin of greater than 70%. It was also anticipating FDA approval on a significant product improvement within the next several months.
"MedImmune Ventures" highlights the problems faced by corporate venture capital firms, the challenges of investing in early-stage healthcare, and the difficulty of operating in distant markets.
GenapSys, a California-based startup, was soon to release a new DNA sequencer that the company's founder, Hesaam Esfandyarpour, believed was truly revolutionary. The sequencer would be substantially less expensive—potentially costing just a few thousand dollars—and smaller than other sequencers, many of which were large devices costing tens of thousands or hundreds of thousands of dollars. GenapSys' device, named GENIUS, could also quickly generate large amounts of data, as it was capable of sequencing an entire human genome in less than eight hours. At this price, GenapSys' device would be attractive to customers that had been unable to afford sequencers, such as smaller laboratories or hospitals, and even expand the market to include industries such as agriculture and biofuels.
As GenapSys came closer to releasing its product, Esfandyarpour and his Senior Director of Operations and Strategy, Leila Rastegar (HBS '11), sat down to decide which of three business models they would choose to bring this device to market. In the first model, the company would sell sequencers at a higher price to those entities which already purchased sequencers, primarily major research labs and pharmaceutical firms, but position its machine as a faster alternative to existing technologies. In the second model, GenapSys would sell its sequencer at a lower price but charge more for the cartridges necessary to run a sample, and earn its primary revenue from these cartridges. The third model would see GenapSys sell its device at or around cost, but use the data customers generated to create a proprietary database of genetic information. Customers could pay to access the database for research, to create genetic tests, or for many other purposes. GenapSys would also build an online store with the genetic tests customers created.
Esfandyarpour's and Rastegar's decision would determine GenapSys' customer base and financial position for the coming years, and also impact development and capital needs of the firm. Which was the right model to bring the device to market and have a meaningful impact?
In mid-2013, as FasterCures celebrated its 10th anniversary as a center of the Milken Institute, Executive Director Margaret Anderson thought about what the organization should do to ensure it had even more impact in its next 10 years. FasterCures was a non-profit "action tank" whose mission was to speed up the process of moving new therapies from discovery to patients in need. Although their annual conference ("Partnering for Cures") to improve how government research was organized was a huge success, Anderson considered refocusing their resources on greater challenges.
For example, current trends in the US showed that investors were increasingly supporting late stage research with higher probabilities of success while funding for riskier early stage research was drying up. Should FasterCures raise money and direct it toward early stage breakthrough therapies? Another issue was the US clinical trial process system. It's complicated, takes a long time, and is very expensive. Should FasterCures reorganize to better understand this issue and make a high-level push to improve it? Or perhaps FasterCures should look at drug reimbursement decisions. Anderson needed to determine where FasterCures should get fully involved, what it should do, and whether it could make a difference.
It was January 2013, and Fred Khosravi, chairman of the board of AccessClosure Inc., wondered what the new year had in store for him and AccessClosure, the company he founded in late 2002. Khosravi was cautiously optimistic—the Mountain View, California-based medical device company had been cash flow positive for seven consecutive quarters with annual revenues over $70 million. Since 2007, it had shipped well over 1.5 million of its vascular closure device (VCD), the Mynx, which was stocked in more than 1,200 catheter labs worldwide. However, a 2008 patent infringement lawsuit filed by St. Jude Medical, the VCD market leader, loomed large. The case was on appeal, and a three-judge panel would hear arguments in March 2013. If AccessClosure lost its appeal, it faced a $27.1 million judgment for patent infringement and a permanent injunction from selling its Mynx family of VCDs, its sole source of revenue.
Ron Laufer is the new Senior Managing Director of MedImmune Ventures, the corporate venture capital arm of AstraZeneca, a leading pharmaceuticals firm. Laufer has to decide whether to pursue a high-potential, but very risky, early-stage investment. The decision Laufer will make will reflect his vision for MedImmune Ventures and more broadly the incentives he faces as a corporate venture capitalist.
Hamermesh, Richard G., and Alisa Zalosh. "Westlake Lanes: How Can This Business Be Saved? Spreadsheet for Instructors (Brief Case)." Harvard Business School Spreadsheet Supplement 124-434, May 2012.
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Hamermesh, Richard G., and Alisa Zalosh. "Westlake Lanes: How Can This Business Be Saved? Spreadsheet for Students (Brief Case)." Harvard Business School Spreadsheet Supplement 124-433, May 2012.
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Hamermesh, Richard G., and Alisa Zalosh. "Westlake Lanes: How Can This Business Be Saved? (Brief Case)." Harvard Business School Teaching Note 124-432, May 2012.
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Hamermesh, Richard G., and Alisa Zalosh. "Sugar Bowl, Spreadsheet for Instructors (Brief Case) (CW)." Harvard Business School Spreadsheet Supplement 913-540, November 2012.
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Hamermesh, Richard G., and Alisa Zalosh. "Sugar Bowl, Spreadsheet for Students (Brief Case) (CW)." Harvard Business School Spreadsheet Supplement 913-539, November 2012.
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Shelby Givens, a recent business school graduate, returned home to Raleigh, North Carolina, to help rescue her family's ailing and outdated bowling alley, Westlake Lanes. Although she cut costs and addressed inefficiencies, moving the business from near-bankruptcy to profitability in nine months, market conditions threatened the long-term viability of the business. Givens then sold her family on a new, more youth-oriented concept, an urban lounge called Sugar Bowl that could generate sizable revenues from the food and beverage businesses already embedded in Westlake Lanes. The case follows Givens as she builds Sugar Bowl into a turnaround story through shrewd decision making in finance, operations, and marketing, while contending constantly with challenging surprises and disappointments. The case also captures Givens's reflections on how the entrepreneurial drive has motivated her. Sugar Bowl may be taught alone or after "Westlake Lanes" (4431), which follows Givens through the initial turnaround process.
This is the teaching note for case Gene Patents (A). In March 2010, U.S. District Court Judge Robert Sweet overturned 30 years of legal precedent and ruled that unaltered human genes could not be patented. This case reviews patent law and how it relates to our increasing knowledge of the Human Genome. The case issues deal with potential implications of Judge Sweet's decision for biotechnology entrepreneurs and investors.
The FDA approvals of novel therapeutics were seen as signs in the personalized medicine community of real progress in the growth of personalized medicine. The FDA's approval of such drugs, along with companion diagnostics, suggested a shift in thinking and regulatory practices at the agency. Beyond the regulatory questions, many considered the reimbursement system archaic, dispersed, unpredictable, and unnecessarily time consuming. Many questioned whether the traditional models of reimbursement were relevant in the era of personalized medicine, and who should be covering the cost of tests needed to identify the sometimes small number of patients who could benefit from expensive targeted drugs. This case focuses on the array of possibilities and the ambiguity surrounding these regulatory and reimbursement issues.
Amylin Pharmaceuticals brought two first-in-class diabetes drugs to market, Byetta and Symlin, in 2005, which were sold in over 80 countries with $650.7 million in sales by 2011. However, the company remained unprofitable as sales plateaued. The small pharmaceutical company was hurt by long delays in bringing Bydureon, a once-a-week version of Byetta, to market, which allowed a competitor time to establish itself in the once-a-week market. Amylin also failed to develop a marketable anti-obesity drug after the purchase of the promising leptin molecule from Amgen, Inc. In 2012, Amylin was acquired by Bristol-Myers Squibb for $5.3 billion.
Shelby Givens, a new MBA, is the general manager of Westlake Lanes, a near-bankrupt bowling alley that her grandfather founded decades earlier. Givens has been given one year to turn a profit; if the goal is not met Westlake will close. During the first few days on the job, Givens learns that the business is in worse shape financially than she—or the board—thought. She also finds that Westlake's employees exhibit minimal productivity. Givens tackles these two issues, creatively uncovering ways to reduce costs while building morale. After nine months, the business has its first profitable month in over two years. Yet Givens is worried it is too little, too late and begins to sketch a bolder long-term strategy based on pursuing one of two alternative new markets. Students are invited to consider whether the board should accept her potentially transformative proposal, maintain existing operations, or liquidate to pay off pressing loan responsibilities. The case includes a quantitative assignment for students.
Hamermesh, Richard G. "Building Life Science Businesses Fall 2012: Course Outline and Syllabus." Harvard Business School Course Overview Note 812-167, September 2012. (Revised from original June 2012 version.)
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Hamermesh, Richard G., and Sunru Yong. "Meli Marine, Spreadsheet Supplement (Brief Case)." Harvard Business School Spreadsheet Supplement 124-429, April 2012.
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Hamermesh, Richard G., and Sunru Yong. "Meli Marine, Instructor Supplement (Brief Case)." Harvard Business School Spreadsheet Supplement 124-430, April 2012.
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Meli Marine, a container shipping company, is facing an important strategic decision after an interesting acquisition opportunity presents itself. Founded in 1974 by the Chang Family, the Singapore-based company has carved out a niche in the intra-Asia transport market. After years of success, eroding business conditions caused a financial crisis and a new CEO, David Tian, was brought in. Tian created a successful strategic change effort that resulted in a more stable but slower-growth company. More than ten years later, Meli Marine has a rare and affordable opportunity to acquire the larger shipping vessels it needs to move into a global market. Tian and his board must decide to whether to expand the franchise into Asian-North American shipping lanes, as key competitors have done, or continue with its current conservative business model.
Citation:
Hamermesh, Richard G., and Sunru Yong. "Meli Marine." Harvard Business School Brief Case 124-426, April 2012.
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The case updates events since the Court's ruling against Myriad Genetics on March 29, 2010 and should be used in conjunction with Gene Patents (A). On July 29, 2011, a US Appeals Court reversed the prior ruling against Myriad. On September 16, 2011, the first major overhaul of US Patent law in nearly 60 years was signed into law. Among other provisions, the law moved the US to a first-to-file priority when granting patents, as was the practice in most of the rest of the world. Many felt this change would help to reduce the amount of patent litigation. The case ends with the Supreme Court's 9 to 0 vote on March 29, 2012 ruling against another company in a case similar to Myriad's. Within five days of that decision, the Supreme Court remanded the Myriad case back down to the Court of Appeals for reconsideration.
Hamermesh, Richard, and Phillip Andrews. "Gene Patents (B)." Harvard Business School Supplement 812-130, March 2012. (Revised October 2013.)
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In March 2010, U.S. District Court Judge Robert Sweet overturned 30 years of legal precedent and ruled that unaltered human genes could not be patented. This case reviews patent law and how it relates to our increasing knowledge of the Human Genome. The case issues deal with the potential implications of Judge Sweet's decision for biotechnology entrepreneurs and investors.
Hamermesh, Richard, David Kiron, and Phillip Andrews. "Gene Patents (A)." Harvard Business School Case 811-089, June 2011. (Revised October 2013.)
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Healthpoint Services sought to address rural India's shortage of quality and affordable healthcare with a multi-service platform that comprised telemedical health clinics called eHealthpoints, clean drinking water, a diagnostic lab, and a pharmacy. Could they convince rural Indians to leapfrog from local healers to telemedicine? And could they convince Investors that their capital Intensive, bundled offering was a high-growth, self-sustaining venture? Healthpoint Services grappled with multiple challenges: changing mind-sets of patients and investors, generating traffic at their eHealthpoints, expanding their product portfolio, and growing within and outside India.
Towards the end of 2010, companies in the gene sequencing industry were pushing aggressive R&D programs to develop technologies and products in the race to sequence the entire human genome at a cost of $1,000. It remained to be seen when the "$1,000 genome" would arrive, and despite all of the buzz surrounding the industry, it was still unclear to investors who the industry winners would be. This case focuses on the emergence of third-generation sequencing and the four segments in the industry: hardware, consumables, services, and interpretation. The case presents the history of the industry, the evolution of sequencing technology, and the business models of players in each segment.
Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the growth of technology transfer offices, and compares how three different universities (MIT, Stanford, and Harvard) approach technology transfer. Provides an overview of the technology transfer process and issues around current practices.
Hamermesh, Richard G., V.G. Narayanan, and Rachel Gordon. "Whose Money Is It Anyway? (TN) (A), (B), and (C)." Harvard Business School Teaching Note 111-128, June 2011.
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Per the Patient Protection and Affordable Care Act (PPACA), which President Obama signed in 2010, states would be required to create state-wide health insurance marketplaces - the Health Benefit Exchanges (HBEs) - in which individuals and small employers could choose from a set of easy-to-compare, tightly regulated health plans. This case explores how Horizon Blue Cross Blue Shield of New Jersey would have to decide whether and how to compete in New Jersey's HBEs.
Primedic is a Mexican start-up that aims to deliver affordable primary and preventative healthcare to those at the base of the economic pyramid. The company is about to exhaust its first round of venture capital funding and the business model has yet to gain traction. How should the business model be changed and should the venture capitalists continue to fund the company?
Richard G. Hamermesh, F. Warren McFarlan, Mark Keil, Andrew Katz, Michael Morgan and David LaBorde
The Computerized Provider Order Entry at Emory Healthcare case presents one hospital system's efforts to implement computerized provider order entry (CPOE) across all of its hospitals and the challenges they faced in doing so. Issues such as standardization of care, how to handle medication reconciliation, and unexpected challenges (e.g., changes to the post-op ordering process, lack of a human gatekeeper to monitor order flow, increase in lab orders). Dr. Bill Bornstein, Chief Quality and Medical Officer of Emory Healthcare in Atlanta is responsible for the smooth implementation of CPOE at Emory Healthcare, which is a vital part of their $50 million electronic medical record initiative. By June 2009, CPOE had gone "live" at Emory University Orthopaedics and Spine Hospital, Emory University Hospital, and Wesley Woods Hospital in a staged rollout. While Dr. Bornstein felt good about how the implementation had gone thus far, as he looked ahead next month to July 13, 2009, the fast approaching go-live date for Emory University Hospital Midtown (EUHM), he was concerned about the challenges and possible perils that lay ahead. He considered what additional actions he should take to prepare for go-live at Midtown, and if Midtown was ready for CPOE at all. One thing was certain; this hospital was different. The Computerized Provider Order Entry at Emory Healthcare case presents one hospital system's efforts to grapple with the challenges of implementing CPOE and the reactions that result. Issues such as how to deal with a workforce that has mixed views about the value of implementing such systems, the pros and cons associated with standardization of care, as well as how to deal with unexpected changes to work processes are brought out in the case. The case also allows for discussion of how to plan a phased implementation with adequate time for organizational learning to occur between the time that various sites "go live."
PIavix, one of the world's best selling drugs in 2010, appears to have a limited future. Its patent was due to expire soon, and recently new data had been discovered that indicated that a small subset of the population would be at risk for stroke, heart attack, or even death if they took PIavix. As a result, the FDA had added a black box warning—the agency's most severe—to Plavix's label in 2010. In addition, it had been discovered that the common combination of Plavix and Prilosec, an over-the-counter drug, could adversely affect patients. Finally, Plavix faced new competition from two new drugs with different mechanisms of action. This case reviews the recent history of Plavix in greater detail to encourage a discussion of the following questions: How might the current manufacturers of Plavix handle these emerging threats to their leading blockbuster? How might Plavix's potential competitors utilize Plavix's mixed history to their advantage? How should genotyping be integrated into the clinical care of patients in the light of emerging knowledge?
Hamermesh, Richard G., and David Kiron. "MINTing Innovation at NewYork-Presbyterian (A) and (B)." Harvard Business School Teaching Note 811-010, October 2010. (Revised June 2015.)
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The Brigham and Women's Physician's Organization (BWPO) and its corporate parent disagree over who has jurisdiction over significant legacy funds. Are they controlled by the BWPO or do they belong to BWPO's corporate parent? The BWPO and its corporate parent must negotiate who has control of the funds which impacts how the funds may be used.
The case describes how the Brigham and Women's Physicians Organization and its corporate parent resolved the issue of how the disputed funds would be distributed and used.
Shurgard, a U.S.-based firm that rents storage facilities to consumers and small businesses, is considering financing options for rapid expansion of its European operations. Five years after entering Europe, Shurgard Europe has opened 17 facilities in Belgium, France, and Sweden. Along the way, Shurgard has encountered skepticism from both European consumers and investors about the unfamiliar self-storage concept and internal debates on how much to adapt the U.S. business model to European lifestyles. Wall Street analysts also do not value the impact that the European expansion could have on Shurgard's U.S. performance as a publicly traded Real Estate Investment Trust (REIT). As an alternative, to finance this expansion, Shurgard received a proposed deal from a consortium of banks and other investors where they would provide private equity financing spaced over the next few years plus a line of credit. In return, the investors would receive a large share of Shurgard's equity and control of its board, which could force a public offering in less than two years. The decision focuses on whether Shurgard Europe should accept the conditions and valuation of the proposed deal or seek another deal at a later point in time. Students must assess whether the self-storage business model can deliver the growth rate in Europe that the company has promised its potential investors. Involves calculating some basic estimates of the company's value from financial exhibits (enterprise value using an EBITDA multiple). Main focus is to assess this as an entrepreneurial venture. Students do not need to be familiar with REITs.
Hamermesh, Richard G. "State of Emergency at Mercy Hospital and The Jenner Situation (TN)." Harvard Business School Teaching Note 810-068, January 2010.
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Novasys has developed a new medical device and procedure for the treatment of female stress urinary incontinence that is cheaper and can be performed in doctors' offices. In spite of FDA approval, the American Medical Association has been unwilling to approve the product for reimbursement. The case deals with the company's struggle to obtain a reimbursement code.
Dr. Bill Lemont is the new chief medical officer of a large academic medical center. During his first week on the job he has become aware of the abusive behavior and temper outbursts of a prominent orthopedic surgeon. How Dr. Lemont handles the situation will be scrutinized inside and perhaps outside the hospital.
Hamermesh, Richard G., Andy Whittemore, and Eliot Sherman. "The Jenner Situation." Harvard Business School Case 809-070, May 2009. (Revised August 2010.)
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In May 2007, Amgen Inc. (Amgen) received disappointing news from the European Medicines Agency (EMEA) that its drug Vectibix, developed to fight metastatic colorectal cancer, had been rejected. This was especially surprising news given that a similar rival drug had received approval several years prior. Moreover, Vectibix had also received Food and Drug Administration approval in 2006. During additional trials, Amgen has learned that the Vectibix is only effective with the 60% of the population that has a specific gene marker. Given this development, what should Amgen's strategy around Vectibix be both in Europe and the United States?
Several top surgeons at NewYork-Presbyterian Hospital (NYP) are receiving financial and administrative support to advance their surgical device inventions through the earliest stages of commercialization.
This case study invites the reader to consider genetic testing in several different lights. First, can the business of genetic testing be considered a disruptive innovation to the current drug therapy model as defined by Harvard Business School Professor Clay Christensen? Secondly, which business models are likely to be the most successful? Finally, we encourage readers to explore possible future business implications and applications in the area of genetic testing while using a framework of disruptive innovation.
Hamermesh, Richard G., Mara G. Aspinall, and Rachel Gordon. "The Explosion of Genetic Testing: Opportunities and Challenges." Harvard Business School Case 810-067, November 2009.
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Hamermesh, Richard G., and Rachel Gordon. "Amylin Pharmaceuticals: Diabetes and Beyond (TN)." Harvard Business School Teaching Note 809-127, April 2009.
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Hamermesh, Richard G. "Syndexa and Technology Transfer at Harvard University (TN)." Harvard Business School Teaching Note 809-107, February 2009.
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Proteus is a healthcare start-up that has developed technology to embed electronics for computing and sensing in existing medical devices and drugs. The technology could potentially change the basis of competition in the pharmaceutical industry. The company is currently considering a number of licensing and business development deals and must choose which one(s) to pursue.
Ginger Graham, CEO of Amylin Pharmaceuticals, joined the company with the expectation of taking the company's signature drug, Symlin, to market. However, unforeseen regulatory challenges have put the approval process in jeopardy. At the same time, the company has a second drug, Byetta, in its pipeline. Graham must decide how to manage the company's limited resources while also finalizing another deal that has huge future potential. Graham knows that Amylin's immediate success depends on its ability to commercialize its products, but its long-term success depends on replenishing its pipeline. Can the company do it all successfully?
Hamermesh, Richard G. "Calloway Laboratory: Pee for Profit (TN)." Harvard Business School Teaching Note 808-119, February 2008. (Revised January 2010.)
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Higgins, Robert F., Richard G. Hamermesh, and Erin Seefeld. "Cynthia Fisher and the Rearing of ViaCell (TN)." Harvard Business School Teaching Note 808-115, January 2008. (Revised January 2009.)
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This case chronicles the role that Harvard Business School alumni play in the healthcare industry. Overall data on alumni is given, and the industry is broken into seven areas in which the careers of twenty-five alumni are highlighted.
This interactive spreadsheet accompanies the ProfitLogic case (#802-110) to enable analysis of the cash flow implications of three business models that the company is considering. Students are able to change key assumptions and see the impact on cash flow.
Applegate, Lynda M., Richard G. Hamermesh, and Michael J. Roberts. "ProfitLogic (CW)." Harvard Business School Spreadsheet Supplement 808-704, April 2008.
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DermaCare has developed an innovative new product for the treatment of acne that they hope to sell to consumers via direct-response television. The unconventional nature of the product and its distribution has led the company to seek angel financing. The Silicon Valley Band of Angels has agreed to finance the company and has submitted a proposed term sheet. Recently, however, a venture capital (VC) group has submitted a competing term sheet. The company must decide whether to accept financing from the Angels or the VC group.
Gokhan Hotamisligil is a star researcher at Harvard School of Public Health who has made groundbreaking discoveries linking fat cells, inflammation, and diabetes. He now wants to form a company to commercialize these discoveries. At the same time, Isaac Kohlberg, the head of Harvard's Office of Technology Development (OTD), is eager to improve Harvard's record in commercializing science. Describes the negotiations between Hotamisligil, OTD, the new company, and the School of Public Health to establish appropriate licensing and sponsored research agreements.
Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the growth of technology transfer offices, and compares how three different universities (MIT, Stanford, and Harvard) approach technology transfer. Provides an overview of the technology transfer process and issues around current practices.
Hamermesh, Richard G., Brian DeLacey, and Erin Seefeld. "Endo Pharmaceuticals Series (TN)." Harvard Business School Teaching Note 807-166, June 2007.
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Describes the U.S. FDA with particular emphasis on its role in the development of new drugs, biologic products, and medical devices today. Provides context for the drug approval process by describing the FDA's history and organizational structure.
Describes the business development process in biotechnology companies. Topics covered include: participants in the licensing process and their interests, the major steps in the licensing process, the terms that are part of most agreements, and the most contentious issues that arise in the implementation of licensing agreements.
Hamermesh, Richard G., and Erin Seefeld. "Molecular Insight Pharmaceuticals, Inc. (TN)." Harvard Business School Teaching Note 806-140, March 2006. (Revised February 2009.)
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Describes the formation and rapid growth of a drug-testing company. The company needs to decide whether to enter the painkiller testing market, in addition to growing its drug treatment center business.
Endo Pharmaceuticals was formed in 1997 as a leveraged buyout spin-off from DuPont Merck. In 1999, it must decide whether to do an IPO or merge with a smaller company.
Hamermesh, Richard G., and Erin Seefeld. "Corporate Venture Capital at Eli Lilly (TN)." Harvard Business School Teaching Note 807-059, September 2006.
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Higgins, Robert F., Richard G. Hamermesh, and Erin Seefeld. "Stan Lapidus: Profile of a Medical Entrepreneur (TN)." Harvard Business School Teaching Note 806-149, March 2006.
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Higgins, Robert F., Richard G. Hamermesh, and Erin Seefeld. "Conor Medsystems (TN)." Harvard Business School Teaching Note 806-150, March 2006.
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Hamermesh, Richard G., and Erin Seefeld. "Fred Khosravi and AccessClosure (TN)." Harvard Business School Teaching Note 806-141, March 2006.
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Fred Khosravi is a serial medical device entrepreneur. In his latest venture, he must decide whether to sell now or continue to develop his current product and whether to market it, sell the company, or IPO.
Describes the start up of Viacord, a Boston-based medical services firm founded by Cynthia Fisher (HBS MBA) in 1993. Told from Fisher's perspective, the entrepreneur details the conceptualization and launch of the business and the many obstacles and expenses faced in the company's first seven years. Fisher describes the venture capital negotiations and a merger with a biotech company that led to the creation of ViaCell in 2000. Fisher explains how her role changed from founder and CEO of Viacord to president and then board member of ViaCell, and carries the firm's story to the successful 2005 IPO.
DentalCorp is the fifth largest provider of dental insurance in Brazil and has tripled its sales in the past two years. Whether to expand to Chile or to continue expansion in Brazil is the major strategic choice facing the company at the end of 2004.
Hamermesh, Richard G., and Ricardo Reisen de Pinho. "DentalCorp." Harvard Business School Case 806-023, October 2005. (Revised September 2006.)
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WuXi Pharmatech has gone from zero to $21 million in sales in three years. The company must decide its growth strategy and how best to finance and organize for rapid growth.
Molecular Insight has developed a novel biopharmaceutical to detect heart attacks. The company's unique approach to intellectual property protection uses the Hatch Waxman Act and the Orphan Drug Act. The company is struggling to raise $7 million in Series B financing. Should it continue its current strategy or change its approach? Includes color exhibits.
Focuses on the strategic and organizational challenges that confront growing enterprises and the entrepreneurs who lead them. Provides an overview of how a new venture needs to change as it passes from the initial start-up to the growth phase. Explores how a venture's leadership, strategy, and execution need to evolve to deal with rapid growth. A rewritten version of an earlier note.
Hamermesh, Richard G., and Indra Reinbergs. "Shurgard Self-Storage: Expansion to Europe and Shurgard Self-Storage: Expansion to Europe (Abridged) (TN)." Harvard Business School Teaching Note 805-080, November 2004. (Revised May 2010.)
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David Hetz and Jon Osgood are forming a new venture capital fund in 2001 to invest in health care start-ups. Describes their fundraising activities at a time when venture capital investing has reached an all-time high. Although their background skills and experiences fall outside venture capital, they have identified a large investor and a number of smaller investors to back their small fund. They believe their fund's strategy uniquely addresses the strategic needs of large, corporate acquirers. At the same time, their approach addresses venture capital's reliance on public markets for liquidity events--which all but evaporated with the dot-com collapse of March 2000. Hetz and Osgood face challenging negotiations to close the fund. Raises the question of whether there is a need for a fund like this at the time of the case. Supports discussion of specialized versus generalized venture capital funds.
Hamermesh, Richard G., and Brian DeLacey. "Cutlass Capital, L.P." Harvard Business School Case 805-075, December 2004. (Revised March 2007.)
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Provides an overview of how a new venture needs to change as it passes from the initial start-up to the growth phase. Explores how a venture's leadership, strategy, and execution need to evolve to deal with rapid growth.
Shurgard, a U.S.-based firm that rents storage facilities to consumers and small businesses, is considering financing options for rapid expansion of its European operations. Five years after entering Europe, Shurgard Europe has opened 17 facilities in Belgium, France, and Sweden. Along the way, Shurgard has encountered skepticism from both European consumers and investors about the unfamiliar self-storage concept and internal debates on how much to adapt the U.S. business model to European lifestyles. Wall Street analysts also do not value the impact that the European expansion could have on Shurgard's U.S. performance as a publicly traded Real Estate Investment Trust (REIT). As an alternative, to finance this expansion, Shurgard received a proposed deal from a consortium of banks and other investors where they would provide private equity financing spaced over the next few years plus a line of credit. In return, the investors would receive a large share of Shurgard's equity and control of its board, which could force a public offering in less than two years. The decision focuses on whether Shurgard Europe should accept the conditions and valuation of the proposed deal or seek another deal at a later point in time. Students must assess whether the self-storage business model can deliver the growth rate in Europe that the company has promised his potential investors. Involves calculating some basic estimates of the company's value from financial exhibits (enterprise value using a pEBITDA multiple). Main focus is to assess this as an entrepreneurial venture. Students do not need to be familiar with REITs.
Hamermesh, Richard G., and Michael J. Roberts. "Pre-Money / Post-Money Tutorial (Instructor Guide)." Harvard Business School Teaching Note 804-195, June 2004.
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Describes the sales, marketing, and operating issues facing Threshold Sports, a small cycling event management company that produces the Pro Cycling Tour. Examines the issues facing the company as it approaches breakeven and attempts to grow the business substantially. The company must balance its growth objectives with a series of internal and external challenges. These include expanding the event to more cities, selling more sponsorships, expanding the TV coverage, and developing new revenue streams.
Describes the early development of the Segway Human Transporter and focuses on the organizational issues that arise between the parent company and the new company that is being spun out to produce and market the Segway. Key issues are the distribution of bonuses and stock options.
Recounts the story of how a successful Nigerian entrepreneur has expanded his systems integration/networking business. He now faces the problem of raising growth capital in a developing country.
Hamermesh, Richard G., and Feyi A. Boroffice. "Resourcery, Ltd." Harvard Business School Case 803-148, March 2003. (Revised November 2003.)
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Hamermesh, Richard G., and Todd H Thedinga. "Threshold Sports (TN)." Harvard Business School Teaching Note 803-135, March 2003. (Revised June 2003.)
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Jim Sharpe discusses his early career at General Electric to his decision to purchase and run a small company. The discussion includes a detailed acquisition financing proposal, which resulted in Sharpe being able to raise virtually all of the financing from some combination of the seller and the bank.
Richard G. Hamermesh, Nitin Nohria, Michael J. Roberts, Arleen Ahearn-Cavanaugh and Sal Darji
An online, interactive tutorial that addresses issues surrounding entrepreneurial valuations. Topics include: the difference between an implied and a "bottom-up" valuation; the difference between pre-money and post-money valuations; the calculation of pre-money and post-money valuations; and the creation and interpretation of a capitalization table.
Deals with MAC Development's efforts to develop a 41-acre site near Chicago. Reviews two years of efforts and highlights the remaining issues of: 1) gaining town approval for development and tax reductions, 2) meeting the bank's debt covenants, including finding a buyer for the first lot, and 3) agreeing on a final purchase price with the seller. Includes color exhibits.
Describes an "application software" company that has been through several evolutions--from consulting firm to applications service provider (ASP). The firm has received significant venture funding to pursue the ASP model but this has not worked, at least at the time the case ends. The company faces a choice: continuing with its current ASP business model, increasing its burn rate to convert to a licensed software model, or decreasing its burn rate to offer a more custom version of the ASP product.
Hamermesh, Richard G., Michael J. Roberts, and Taslim Pirmohamed. "ProfitLogic." Harvard Business School Case 802-110, January 2002. (Revised May 2003.)
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Traces the origin of Vialog Corp.--from its founding in 1996 through a roll-up of several independent teleconferencing companies in 1997 and its initial public offering (1999) and eventually to a potential merger or acquisition in June 2000. The company has grown rapidly and has the option of merging with an Internet company or another strategic partner, or selling to a European strategic partner.
Hamermesh, Richard G., and Michele Lutz. "Vialog Corporation (TN)." Harvard Business School Teaching Note 802-053, January 2002. (Revised July 2002.)
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Describes the primary elements and defining characteristics of a company's business model from the perspective of an entrepreneur. Introduces several analytic techniques and provides illustrative examples of business models to support the analytic framework presented.
Includes a brief overview of key challenges facing recent HBS graduates seeking funding for a business, followed by a 22-page excerpt from the Kingsley Management business plan. Describes Matthew Lieb and Chris Jones, two of the partners who developed the business plan for Kingsley Management, as they prepare to meet with potential investors. Lieb and Jones are particularly concerned about the investors' financial returns and the structure of the new business entity (i.e., C-corp. vs. LLC). Outlines several questions facing Lieb and his co-founders, which students are asked to resolve.
Hamermesh, Richard G., and Michelle Lutz. "Kingsley Management TN." Harvard Business School Teaching Note 801-484, June 2001. (Revised April 2003.)
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Hamermesh, Richard G., and Michele Lutz. "Return Logic, Inc. (A) and (B) TN." Harvard Business School Teaching Note 801-366, January 2001. (Revised May 2001.)
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Focuses on an entrepreneur who founded a successful health-food store and seeks to expand his retail concept. Illustrates the challenges he faces as he recruits his top management team.
Hamermesh, Richard G., and Michele Lutz. "Balance, Inc. (A) and (B) TN." Harvard Business School Teaching Note 801-372, February 2001. (Revised May 2001.)
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Follows three graduating HBS students as they build a business-to-business Internet venture and highlights the challenges they confront in structuring financing terms with venture capitalists. Requires students to carefully read a six-page term sheet to identify which provisions should and should not be accepted.
Hamermesh, Richard G., and Michele Lutz. "Return Logic, Inc. (A)." Harvard Business School Case 801-167, January 2001. (Revised May 2001.)
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Highlights how multiple rounds of financing work in practice and illustrates how terms agreed to in early-stage financing deals have an impact in later financing rounds. Also illustrates ethical issues that entrepreneurs confront as they build "dot-com" ventures.
Hamermesh, Richard G., and Michele Lutz. "Return Logic, Inc. (B)." Harvard Business School Case 801-168, January 2001. (Revised May 2001.)
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Profiles Rajath Chaundry, an aspiring entrepreneur, as he attempts to secure office space for his growing team, select a lawyer, and continue to build his fledgling enterprise, eLearning.com. Designed to be used in an entrepreneurial management or small business course to illustrate the importance of early negotiations in the life of a business venture.
Hamermesh, Richard G., and Michele Lutz. "Lawyers & Leases TN." Harvard Business School Teaching Note 801-353, January 2001. (Revised April 2001.)
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Hamermesh, Richard G., and Jeremy Dann. "STT Aerospace, Supplement." Harvard Business School Supplement 399-078, January 1999. (Revised October 1999.)
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Michael Bloomberg founded his company to provide customers quick access to financial market data and analytical tools for understanding that data. As Bloomberg L.P. grew quickly,entered the ranks of "large, established companies," it grappled with a whole new range of human resources, organizational, and corporate culture issues.
Christensen, Clayton M., Richard G. Hamermesh, and Jeremy Dann. "Bloomberg L.P." Harvard Business School Case 399-081, February 1999. (Revised June 1999.)
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Tim Trowac and Dave Rahall, two former investment bankers, skillfully execute the leveraged buyout of a golf ball recycling company after working intensely on their due diligence, writing a business and financial plan, and developing the investment memorandum. Six months later, they question the competency of their management team, which they had assembled from former Explo employees rather than conduct extensive searches. Now financial results are poor. Trowac and Rahall need to explain the poor performance and come up with an action plan for their investors.
Experienced entrepreneur Charles Damon conducted a "roll-up" from 1987-1994 within the commercial airliner interior products industry. Damon's company, STT Aerospace, took advantage of an industry-wide recession in the early 1990s by buying when asset prices were low. The strategy's success was borne out by the company's growth and success in the marketplace. However, the company faced its own set of problems as the industry downturn continued. Critical decisions to be made at the end of the case include: 1) Whether or not STT should continue its acquisition strategy in the face of declining profits; 2) If the company should reset the strike price of options packages, a big part of employee compensation; and 3) If they should invest in a breakthrough high-tech product.
A new general manager is supposed to rekindle growth. Seven months later, he questions the abilities of his direct reports. An organizational psychologist is brought in to assess his people. The general manager now has to decide who to keep and how to structure his direct report team.
Hamermesh, Richard G., and Joseph L. Bower. "Cleveland Twist Drill (A) and (B) TN." Harvard Business School Teaching Note 395-236, June 1995.
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A condensed version of Crown Cork & Seal Co., Inc. The principal changes are the elimination of details about the early history of the company and condensation of the final section, Outlook for the Future.
Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (A), (B1), (B2), (B3), (B4), (C), and (D), Teaching Note." Harvard Business School Teaching Note 386-125, June 1986.
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Describes the first four years of Jack Welch's tenure as CEO of the General Electric Co. Deals with the ways Welch has tried to change GE's strategy and planning activities and his attempts to make the company more entrepreneurial.
Presents a question and answer session with Jim Bartlett, president of Cleveland Twist Drill. Edited into three parts. Bartlett provides additional insights into the case situation and also describes subsequent events at the company.
Describes events at Cleveland Twist Drill between April 1982 and February 1983. Jim Bartlett's approach to the union and the implementation of the "move strategy" are described. Students are asked to evaluate these actions and to develop plans for dealing with current problems and with recent overtures from the union president.
Badaracco, Joseph L., Jr., and Richard G. Hamermesh. "Orthoteks USA (B3)." Harvard Business School Supplement 384-060, September 1983. (Revised May 1999.)
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A series on implementing strategy as the head of the U.S. subsidiary of a successful Swiss medical products firm. Traces the actions of the CEO over a four year period and highlights his negotiations with the Swiss parent and the way functional components of the strategy were developed and integrated. Describes Hans Wyss' first eight months as CEO of Orthoteks USA.
Badaracco, Joseph L., Jr., and Richard G. Hamermesh. "Orthoteks USA (A)." Harvard Business School Case 384-057, September 1983. (Revised July 1991.)
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Deals with the problems of implementing strategy in a declining industry and the negotiation of strategy with external constituencies, particularly labor unions. Traces Jim Bartlett's first nine months as president and asks for a plan of action.
Badaracco, Joseph L., Jr., and Richard G. Hamermesh. "Orthoteks USA (C)." Harvard Business School Supplement 384-061, September 1983. (Revised July 1986.)
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Badaracco, Joseph L., Jr., and Richard G. Hamermesh. "Orthoteks USA (B1)." Harvard Business School Supplement 384-058, September 1983. (Revised September 1985.)
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Badaracco, Joseph L., Jr., and Richard G. Hamermesh. "Orthoteks USA (B2)." Harvard Business School Supplement 384-059, September 1983. (Revised September 1985.)
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Presents a framework for thinking about problems of implementing strategy. Defines the tasks of implementation and the range of implementation situations, then develops four approaches to implementation and reviews a range of implementation skills. Intended for use in Business Policy II in conjunction with case studies.
Introduces Reginald Jones, former CEO of General Electric. Presents a question and answer session with Jones and Advanced Management Program participants.
Describes the introduction and evolution of General Electric's strategic planning system from the 1960s to Jack Welch's tenure. Allows discussion of the interplay of problems and circumstances to the evolution of the strategic planning system, and how Welch might use or alter the system to meet the challenge of growth.
Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (B1)." Harvard Business School Case 381-053, October 1980. (Revised June 1986.)
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Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (A)." Harvard Business School Case 381-052, October 1980. (Revised January 1985.)
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Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (B2)." Harvard Business School Case 381-054, November 1980. (Revised April 1981.)
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Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (B4)." Harvard Business School Case 381-056, November 1980. (Revised March 1981.)
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Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (C)." Harvard Business School Case 381-057, November 1980. (Revised March 1981.)
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Hamermesh, Richard G. "Management Succession and Board Membership, Teaching Note." Harvard Business School Teaching Note 380-187, April 1980.
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Covers history of PC&D from 1960 to 1975 as it grows from a single business firm to a diversified firm. Emphasizes the use of subsidiaries for product development and fast growth. Other issues include problems of a new CEO in keeping control of fast growing divisions.
Hamermesh, Richard G., and Evelyn T. Christiansen. "Mitek Corp." Harvard Business School Case 379-110, February 1979. (Revised October 1980.)
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Describes the technical, economic, and competitive trends in the metal container industry. The strategy of Crown Cork and Seal is then described in relation to these trends. Focuses on two immediate threats to Crown's strategy: the future of aerosol cans, given the ozone problem; and the impact of the banning of nonreturnable containers.
Hamermesh, Richard G., Karen Gordon Mills, and John P. Reed. "Crown Cork & Seal Co., Inc." Harvard Business School Case 378-024, August 1977. (Revised April 1987.)
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Hamermesh, Richard G. "Crown Cork & Seal Co., Inc., Teaching Note." Harvard Business School Teaching Note 378-108, October 1977. (Revised October 1985.)
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Salter, Malcolm S., and Richard G. Hamermesh. "Fuqua Industries (A), (B), and (C), Teaching Note." Harvard Business School Teaching Note 375-280, February 1975. (Revised October 1985.)
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Bower, Joseph L., and Richard G. Hamermesh. "Federated Department Stores, Teaching Note." Harvard Business School Teaching Note 375-304, March 1975. (Revised October 1985.)
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Bower, Joseph L., and Richard G. Hamermesh. "Federated Department Stores." Harvard Business School Case 375-147, November 1974. (Revised June 1985.)
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Salter, Malcolm S., and Richard G. Hamermesh. "Fuqua Industries (A)." Harvard Business School Case 375-189, December 1974. (Revised May 1983.)
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Salter, Malcolm S., and Richard G. Hamermesh. "Fuqua Industries (C)." Harvard Business School Case 375-191, December 1974. (Revised April 1975.)
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Precision medicine company Blueprint Medicines was building a successful track record for bringing drug therapies to market 40% faster than average. The company had spent $40 million dollars and two years building a compound library that became its drug development engine. Blueprint’s drug development strategy was twofold—it focused on creating a single drug compound for multiple disease indications, while at the same time developing drugs to track a disease through its progression. The company’s goal was to become a fully integrated biopharmaceutical company that could move from drug discovery to development to marketing. But it was increasingly challenging to prioritize and manage programs, personnel and partnerships.
