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- 2022
- Working Paper
Come Together: Firm Boundaries and Delegation
By: Raffaella Sadun, Laura Alfaro, Nicholas Bloom, Paola Conconi, Harald Fadinger, Patrick Legros, Andy Newman and John Van Reenen
We develop an incomplete-contracts model to jointly study firm boundaries and the allocation of decision rights within them. Integration has an option value: it gives firm owners authority to delegate or centralize decision rights, depending on who can best solve...
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- 2022
- Chapter
Marketing Through the Machine’s Eyes: Image Analytics and Interpretability
By: Flora Feng, Shunyuan Zhang and Kannan Srinivasan
he growth of social media and the sharing economy is generating abundant unstructured image and video data. Computer vision techniques can derive rich insights from unstructured data and can inform recommendations for increasing profits and consumer utility—if only the...
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- April 2022
- Teaching Note
Tempur Sealy International (A, B & C)
By: Benjamin C. Esty and Daniel Fisher
Teaching Note for HBS Case Nos. 718-422, 718-423, and 718-424. The cases explore the long-term relationship between Tempur Sealy (TPX, a mattress manufacturer) and Mattress Firm (MFRM, a bedding retailer and TPX's largest customer). For almost 20 years, the firms...
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Keywords:
Porter's 5 Forces;
Bargaining Power;
Buyer Power;
Customer Power;
Supplier Power;
Negotiations;
Value Capture;
Private Equity;
Consumer Durables;
Consumer Discretionary;
Mattresses;
B-2-B;
Industry Dynamics;
Leadership;
Compensation;
Corporate Strategy;
Business Strategy;
Value Creation;
Competition;
Cooperation;
Distribution;
Negotiation;
Industry Structures;
Customers;
Relationships;
Distribution Industry;
Manufacturing Industry;
Retail Industry;
Consumer Products Industry;
United States;
South Africa
- March 2022
- Case
MTN: Unlocking Value While Driving Socioeconomic Progress
By: Benjamin C. Esty, Pippa Tubman Armerding and Dilyana Karadzhova Botha
On March 10, 2021, Ralph Mupita the new CEO of MTN Group, Africa largest telecommunications company, presented the group’s 2020 annual results and unveiled a new strategy to “drive growth and unlock value.” Despite MTN’s leadership in most of its markets, the company’s...
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- February 2022 (Revised March 2022)
- Case
Hertz in Bankruptcy: A Wild Ride in Pandemic Times
Hertz filed for Chapter 11 bankruptcy in response to asset-backed securities (ABS) obligations and the COVID-19 pandemic. Enthusiastic Robinhood investors and shrewd negotiating tactics helped Hertz stabilize. Roughly nine months into the bankruptcy, Hertz received...
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- February 2022 (Revised March 2022)
- Case
MicroStrategy's Investment in Bitcoin
By: C. Fritz Foley
At the end of the second quarter of 2020, MicroStrategy, a Virginia based provider of analytics software and services, announced plans to acquire and hold bitcoin as a part of the firm’s treasury reserve policy and corporate strategy. Within a year, the firm purchased...
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- January 2022
- Case
Fueling a Cleaner Future: ACWA Power and Green Hydrogen
By: Dennis Yao and Alpana Thapar
In January 2020, Paddy Padmanathan, president and CEO of ACWA Power, was reflecting on the company’s sixteen-year record of success and thinking about its future growth plans. Founded in 2004, ACWA Power was a Saudi Arabian developer, owner, and operator of power and...
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- January 2022
- Article
Artificial Intelligence, Data-Driven Learning, and the Decentralized Structure of Platform Ecosystems
By: David R. Clough and Andy Wu
Gregory, Henfridsson, Kaganer, and Kyriakou (2020) highlight the important role of data and AI as strategic resources that platforms may use to enhance user value. However, their article overlooks a significant conceptual distinction: the installed base of...
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- 2022
- Working Paper
The Fed and the Secular Decline in Interest Rates
In this paper I document a striking fact: a narrow window around Fed meetings fully captures the secular decline in U.S. Treasury yields since 1980. By contrast, yield movements outside this window are transitory and wash out over time. This is surprising because the...
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- Article
The Translucent Hand of Managed Ecosystems: Engaging Communities for Value Creation and Capture
By: Elizabeth J. Altman, Frank Nagle and Michael Tushman
Management research has increasingly explored the domains of ecosystems, platforms, and open/user/distributed innovation—governance structures focused on engaging with external communities. While these research areas include substantial empirical and theoretical work...
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- 2021
- Book
The Future of Executive Development
By: Mihnea C Moldoveanu and Das Narayandas
Executive development programs have entered a period of rapid transformation, driven by digital disruption and a widening gap between the skills that participants and their organizations demand and those provided by their executive programs. This work delves into the...
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- November 2021
- Article
Ratings, Reviews, and the Marketing of New Products
By: Itay P. Fainmesser, Dominique Olié Lauga and Elie Ofek
We study how user-generated content (UGC) about new products impacts a firm's advertising and pricing decisions and the effect on profits and market dynamics. We construct a two-period model where consumers value quality and are heterogeneous in their taste for the new...
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- October 2021
- Article
Overcoming the Cold Start Problem of CRM Using a Probabilistic Machine Learning Approach
By: Nicolas Padilla and Eva Ascarza
The success of Customer Relationship Management (CRM) programs ultimately depends on the firm's ability to understand consumers' preferences and precisely capture how these preferences may differ across customers. Only by understanding customer heterogeneity, firms can...
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- 2021
- Working Paper
Governance Transparency and Firm Value: Evidence from Korean Chaebols
By: Akash Chattopadhyay, Sa-Pyung Sean Shin and Charles C.Y. Wang
We examine Korean business groups' transition from circular-shareholding structures to (relatively simple) pyramidal-shareholding structures between 2011 and 2018. When firms were removed from ownership loops, chaebol families' control or incentive conflicts in them...
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- August 2021
- Case
Zoom Video Communications: Building a Culture of Diversity, Equity, & Inclusion During COVID-19
By: Karen G. Mills, Scott Duke Kominers, Christopher Stanton, Andy Wu, George Gonzalez and Gabriella Elanbeck
Keywords:
Diversity Management;
Diversity Training;
Cultural Change;
Cultural Diversity;
Inclusion;
Inclusive Growth;
Inclusive Hiring;
Hiring;
Hiring Of Employees;
Recruiting;
Performance Management;
Change Leadership;
Race And Ethnicity;
Racial Bias;
Racial Disparity;
Racial Injustice;
Racial Tensions;
Racism;
Organization;
Organization Process;
Organization Structure;
Structural/institutional Racism;
Leadership And Change Management;
Leadership And Managing People;
Leading;
Gender Bias;
Discrimination;
Inequalities;
Inequality;
Social Change;
Employee Attitude Development And Empowerment;
Employee Bonding;
Employee Empowerment;
Employee Engagement;
Employee Fairness;
Employee Morale;
Employee Performance Management;
Employee Relations;
Company Culture;
Company Values;
Values;
COVID-19 Pandemic;
Demographics;
Diversity;
Age;
Ethnicity;
Gender;
Business Processes;
Change Management;
Change;
Race;
Human Capital;
Human Resources;
Compensation and Benefits;
Employees;
Employee Relationship Management;
Recruitment;
Retention;
Selection and Staffing;
Jobs and Positions;
Job Interviews;
Leadership;
Leading Change;
Management;
Management Teams;
Business or Company Management;
Crisis Management;
Goals and Objectives;
Growth and Development;
Growth and Development Strategy;
Growth Management;
Management Style;
Organizational Change and Adaptation;
Organizational Culture;
Organizational Design;
Organizational Structure;
Organizations;
Mission and Purpose;
Culture;
Happiness;
Prejudice and Bias;
Satisfaction;
Equity;
Identity;
Leadership Style;
Values and Beliefs;
Technology Industry;
United States
- June 2021 (Revised June 2021)
- Case
Modern Endowment Management: Paula Volent and the Bowdoin Endowment
By: Luis M. Viceira, Emily R. McComb and Dean Xu
This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). In March 2021, Paula Volent is about to step down as the CIO of the endowment of Bowdoin College after twenty-one years, and...
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- 2021
- Working Paper
Spiritual Philanthropy in Emerging Markets
By: Valeria Giacomin and G. Jones
This working paper discusses the ethics and drivers of philanthropic foundations in emerging markets. A foundation organizes assets to invest in philanthropic initiatives. Previous scholarship has largely focused on developed countries, especially the United States,...
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- March 2021
- Case
Astralis Group: Determining a Brand Strategy
By: Benjamin C. Esty, Mette Fuglsang Hjortshoej and Emilie Billaud
After launching a Danish esports company in July 2019, and going public in December 2019 with multiple brands associated with different games, the Astralis leadership team was contemplating a shift to a single, corporate brand. While the original arguments for...
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Keywords:
Brand Strategy;
Esports;
Video Games;
Corporate Scope;
Positioning;
Ecosystem;
Brands and Branding;
Strategy;
Business Ventures;
Business Startups;
Entrepreneurship;
Ethics;
Sports;
Competitive Strategy;
Value Creation;
Diversification;
Games, Gaming, and Gambling;
Sports Industry;
Entertainment and Recreation Industry;
Denmark;
Europe
- March 2021
- Article
Assortment Rotation and the Value of Concealment
By: Kris J. Ferreira and Joel Goh
Assortment rotation—the retailing practice of changing the assortment of products offered to customers—has recently been used as a competitive advantage for both brick-and-mortar and online retailers. We focus on product categories where consumers may purchase multiple...
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- Article
How Venture Capitalists Make Decisions
By: Paul A. Gompers, Will Gornall, Steven Kaplan and Ilya Strebulaev
For decades now, venture capitalists have played a crucial role in the economy by financing high-growth start-ups. While the companies they’ve backed—Amazon, Apple, Facebook, Google, and more—are constantly in the headlines, very little is known about what VCs actually...
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