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      • August 2025
      • Article

      Revenue Collapses and the Consumption of Small Business Owners in the COVID-19 Pandemic

      By: Olivia S. Kim, Jonathan A. Parker and Antoinette Schoar
      Using financial account data linking small businesses to their owner households, we examine how business owners’ consumption responded to changes in business revenues during the COVID-19 crisis. In the first two months following the National Emergency, business... View Details
      Keywords: Revenue; Small Business; Health Pandemics; Spending; Consumer Behavior
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      Kim, Olivia S., Jonathan A. Parker, and Antoinette Schoar. "Revenue Collapses and the Consumption of Small Business Owners in the COVID-19 Pandemic." Art. 104079. Journal of Financial Economics 170 (August 2025).
      • 2025
      • Report

      High Stakes: A Framework for Geopolitical Risk Management

      By: Meg Rithmire and David Fagan
      This report provides a data-based assessment of how U.S. companies perceive geopolitical risk and articulates a recommended decision-making process and framework to manage such risk. The research reflected in the report indicates that various concerns related to China... View Details
      Keywords: Globalization; International Relations; Business or Company Management; Risk Management
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      Rithmire, Meg, and David Fagan. "High Stakes: A Framework for Geopolitical Risk Management." Report, U.S. Chamber of Commerce Foundation, Washington, DC, USA, 2025.
      • April 2025
      • Case

      Breezm: Innovative 3D-Printed Eyewear (A)

      By: Juan Alcácer, Brian Mao Fu and Adina Wong
      In 2023, Breezm, a South Korean startup, faced a strategic decision about how to grow its innovative 3D-printed, custom-fit eyewear business. Co-founded in 2017 by Zenma Park and Wooseok Sung, Breezm combined facial scanning, AI, and in-house production to solve the... View Details
      Keywords: 3D Printing; Eyeyewear; Growth; Business Startups; AI and Machine Learning; Technological Innovation; Growth and Development Strategy; Risk and Uncertainty; Expansion; South Korea
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      Alcácer, Juan, Brian Mao Fu, and Adina Wong. "Breezm: Innovative 3D-Printed Eyewear (A)." Harvard Business School Case 725-376, April 2025.
      • April 2025
      • Article

      How Central Banks Manage Climate and Energy Transition Risks

      By: Esther Shears, Jonas Meckling and Jared Finnegan
      Central banks have begun to examine and manage climate risks, including both transition risks of moving from fossil fuels to clean energy and physical climate risks. Here we provide a systematic assessment of how and why central banks address climate risks on the basis... View Details
      Keywords: Banks and Banking; Risk and Uncertainty; Climate Change; Transition; Risk Management
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      Shears, Esther, Jonas Meckling, and Jared Finnegan. "How Central Banks Manage Climate and Energy Transition Risks." Nature Energy 10, no. 4 (April 2025): 470–478.
      • March 2025
      • Case

      Sarojini Naidu: Courage of the Nightingale

      By: Ranjay Gulati, Malini Sen and Anjali Raina
      Indian poet and freedom fighter and mother of four, Sarojini (Chattopadhyay) Naidu, could not hold back. As the protestors marched ahead without retaliating against the police’s blows, she stepped forward to join them. A British officer approached Naidu and touched her... View Details
      Keywords: India; Asia
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      Gulati, Ranjay, Malini Sen, and Anjali Raina. "Sarojini Naidu: Courage of the Nightingale." Harvard Business School Case 425-085, March 2025.
      • 25 Mar 2025
      • Other Presentation

      Louis E. Caldera on the Panama Canal and DEI Under Trump's Administration

      By: Louis Caldera and June Carolyn Erlick
      Louis E. Caldera, a Senior Lecturer at Harvard Business School, chaired the Panama Canal Commission the year the Canal was returned to Panama, 1999. He was also the first (and only) Latino to serve as Secretary of the Army. He talks on issues ranging from President... View Details
      Keywords: Government Administration; History; National Security; Diversity; Panama; United States
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      "Louis E. Caldera on the Panama Canal and DEI Under Trump's Administration." Faculty Voices (podcast), Harvard University, David Rockefeller Center for Latin American Studies, March 25, 2025.
      • March 2025
      • Teaching Note

      Seattle's Climate Pledge Arena: Ticket to a Greener Future

      By: Rosabeth Moss Kanter and Jacob A. Small
      Teaching Note for HBS Case No. 325-110. CEO Tim Leiweke reviewed the process by which his newly formed Oak View Group had managed a major rebuild of a landmark arena in Seattle which attracted a National Hockey League franchise and major entertainers concerned about... View Details
      Keywords: Climate Change; Environmental Sustainability; Leadership; Bids and Bidding; Standards; Corporate Social Responsibility and Impact; Green Buildings; Construction; Partners and Partnerships; Sports Industry; Entertainment and Recreation Industry; Seattle
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      Kanter, Rosabeth Moss, and Jacob A. Small. "Seattle's Climate Pledge Arena: Ticket to a Greener Future." Harvard Business School Teaching Note 325-114, March 2025.
      • March 2025
      • Case

      YouTube: Bidding for NFL Sunday Ticket

      By: Anita Elberse and Crystal Yao
      In December 2022, Erin Teague, a senior director and the global head of sports, movies and shows at YouTube, technology giant Alphabet Inc.’s video- sharing platform, received the news that Sundar Pichai, the chief executive officer of Alphabet and its subsidiary... View Details
      Keywords: General Management; Entertainment; Media; Sports; Marketing; Management; Business Strategy; Bids and Bidding; Sports Industry; Entertainment and Recreation Industry
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      Elberse, Anita, and Crystal Yao. "YouTube: Bidding for NFL Sunday Ticket." Harvard Business School Case 525-045, March 2025.
      • March 2025 (Revised March 2025)
      • Case

      Seattle's Climate Pledge Arena: Ticket to a Greener Future

      By: Rosabeth Moss Kanter and Jacob A. Small
      Tim Leiweke reviewed how his development group and partners had completely rebuilt an aging Seattle landmark into the world’s greenest arena, carrying the visible name Climate Pledge Arena. It had attracted a new National Hockey League franchise, the Kraken, and... View Details
      Keywords: Environmental Sustainability; Leadership; Bids and Bidding; Standards; Corporate Social Responsibility and Impact; Seattle
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      Kanter, Rosabeth Moss, and Jacob A. Small. "Seattle's Climate Pledge Arena: Ticket to a Greener Future." Harvard Business School Case 325-110, March 2025. (Revised March 2025.)
      • March 2025
      • Case

      GiveDirectly: Can Direct Cash Transfers End Extreme Poverty?

      By: Natalia Rigol, Benjamin N. Roth, Sarah Mehta and John Schultz
      Founded in 2008, GiveDirectly was a nonprofit organization that used direct cash transfers—giving people cash via mobile money—to combat poverty worldwide. By August 2024, the organization had transferred over $800 million to poor people in targeted communities and... View Details
      Keywords: Economics; Ethics; Growth and Development; Philanthropy and Charitable Giving; Research; Social Enterprise; Society; Africa; Asia; Latin America; North and Central America; United States
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      Rigol, Natalia, Benjamin N. Roth, Sarah Mehta, and John Schultz. "GiveDirectly: Can Direct Cash Transfers End Extreme Poverty?" Harvard Business School Case 825-008, March 2025.
      • February 2025
      • Case

      Fly, Fix, Fly at True Anomaly

      By: Joshua Lev Krieger, Jim Matheson, Fiona Murray and David Allen
      How should companies learn from failure? Founded by four U.S. Space Force warfighters, the tough tech startup True Anomaly wanted to compete with major defense contractors to supply the U.S. Department of Defense with satellites and software that could help protect... View Details
      Keywords: Business Startups; Engineering; National Security; Digital Platforms; Failure; Problems and Challenges; Business and Government Relations; War; Aerospace Industry; United States; Colorado
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      Krieger, Joshua Lev, Jim Matheson, Fiona Murray, and David Allen. "Fly, Fix, Fly at True Anomaly." Harvard Business School Case 825-040, February 2025.
      • February 14, 2025
      • Editorial

      Punishing Military Officers for Political Reasons Endangers Our Troops and Threatens National Security

      By: Louis Caldera, George Casey, Sean O'Keefe, Steve Abbot and Thad Allen
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      Caldera, Louis, George Casey, Sean O'Keefe, Steve Abbot, and Thad Allen. "Punishing Military Officers for Political Reasons Endangers Our Troops and Threatens National Security." Military.com (February 14, 2025).
      • January 2025 (Revised March 2025)
      • Case

      Thomas Müller: Mr. Bayern Munich

      By: Boris Groysberg, Sascha L. Schmidt, Alexander Liebhart and Sarah Abbott
      In 2024, FC Bayern Munich superstar Thomas Müller announced his retirement from German national football. His contract with Bayern Munich runs through the end of the 2024-25 season. In 2025, Müller reflects on his long career in football, on the skills that have driven... View Details
      Keywords: Soccer; Football; Data Science And Analytics Management; Bundesliga; Sports Data; "Sports Organizations,; Career Changes And Transitions; Career Management; Retirement Transition; Skills Development; Analysis; Competency and Skills; Decision Making; Performance; Personal Development and Career; Retirement; Transition; Sports Industry; Germany
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      Groysberg, Boris, Sascha L. Schmidt, Alexander Liebhart, and Sarah Abbott. "Thomas Müller: Mr. Bayern Munich." Harvard Business School Case 425-031, January 2025. (Revised March 2025.)
      • January 2025 (Revised March 2025)
      • Case

      Creating Value by Splitting Aster: Can One Minus One Equal Two?

      By: V.G. Narayanan and Kairavi Dey
      Aster DM Healthcare (Aster), founded by Dr. Azad Moopen in 1987, is a prominent healthcare conglomerate with operations spanning hospitals, clinics, retail pharmacies, and diagnostic centers across India and the GCC. After its 2018 listing on India’s National Stock... View Details
      Keywords: Corporate Governance; Corporate Accountability; Leadership; Change Management; Mergers and Acquisitions; Restructuring; Negotiation; Valuation; Health Industry; Asia; India; Middle East; United Arab Emirates
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      Narayanan, V.G., and Kairavi Dey. "Creating Value by Splitting Aster: Can One Minus One Equal Two?" Harvard Business School Case 125-069, January 2025. (Revised March 2025.)
      • 2024
      • Book

      The Fading Light of Democratic Capitalism: How Pervasive Cronyism and Restricted Suffrage Are Destroying Democratic Capitalism as a National Ideal ... And What to Do About It

      By: Malcolm S. Salter
      What are we to do about declining public trust and confidence in democratic capitalism, which many citizens consider a cornerstone of our national ideology and identity? In this book, I address how we can rekindle the fading light of democratic capitalism as an... View Details
      Keywords: Government and Politics; Power and Influence; Economic Systems; Culture
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      Salter, Malcolm S. The Fading Light of Democratic Capitalism: How Pervasive Cronyism and Restricted Suffrage Are Destroying Democratic Capitalism as a National Ideal ... And What to Do About It. Cambridge Elements, Elements in Reinventing Capitalism. Cambridge University Press, 2024.
      • November 2024
      • Case

      Helium: Crowdsourcing a National Telecom Network

      By: Jorge Tamayo and Mahesh Ramakrishnan
      In 2024, Helium is running a pilot to test pricing models for their innovative crowdsourcing approach to building out a national telecom network. View Details
      Keywords: Networks; Price; Telecommunications Industry; United States
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      Tamayo, Jorge, and Mahesh Ramakrishnan. "Helium: Crowdsourcing a National Telecom Network." Harvard Business School Case 725-373, November 2024.
      • November 2024
      • Supplement

      AlphaGo (B): Birth of a New Intelligence

      By: Shikhar Ghosh and Shweta Bagai
      This case, the second in a three-part series, explores DeepMind's evolution from developing game-specific AI to more generalized learning systems. Following AlphaGo's 2017 victory over the Go world champion, DeepMind introduced two revolutionary systems that eliminated... View Details
      Keywords: AI and Machine Learning; Games, Gaming, and Gambling; Technological Innovation; Disruptive Innovation; Innovation Leadership; Information Technology Industry; United States; Russia; China
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      Ghosh, Shikhar, and Shweta Bagai. "AlphaGo (B): Birth of a New Intelligence." Harvard Business School Supplement 825-074, November 2024.
      • November 2024
      • Case

      Dr. Bombay Ice Cream

      By: William R. Kerr, Alexis Brownell and Michael Liu
      This case examines the creation, launch, and rapid growth of Dr. Bombay Ice Cream, a joint venture between Happi Co., a consumer packaged goods incubator, and entertainment mogul Snoop Dogg, with his son, Cordell Broadus. The brand was inspired by a Bored Ape Yacht... View Details
      Keywords: Joint Ventures; Growth Management; Brands and Branding; Product Launch; Product Positioning; Market Entry and Exit; Distribution Channels; Food and Beverage Industry; United States
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      Kerr, William R., Alexis Brownell, and Michael Liu. "Dr. Bombay Ice Cream." Harvard Business School Case 825-090, November 2024.
      • 2024
      • Article

      State Capacity and Varieties of Climate Policy

      By: Jonas Meckling and Ari Benkler
      Countries vary in the adoption of sticks and carrots in climate policy. Differences in institutional capacity and fiscal space shape national policies. This matters for the effectiveness of national mitigation efforts and the extent of international conflict over... View Details
      Keywords: Climate Change; Policy; Country
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      Meckling, Jonas, and Ari Benkler. "State Capacity and Varieties of Climate Policy." Art. 9942. Nature Communications 15 (2024).
      • November–December 2024
      • Article

      High-Status Teammates: Award Evaluation in the National Basketball Association

      By: Dominika Kinga Randle and Letian Zhang
      Social evaluations proceed in stages. First, judges filter a broad pool of candidates and pick a subset for detailed assessment. Then, the chosen group undergoes a closer examination, during which winners are selected. At both stages of the process, judges are... View Details
      Keywords: Performance Evaluation; Prejudice and Bias; Groups and Teams; Status and Position; Sports Industry
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      Randle, Dominika Kinga, and Letian Zhang. "High-Status Teammates: Award Evaluation in the National Basketball Association." Organization Science 35, no. 6 (November–December 2024): 2294–2308.
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