Publications

April 2025
Case

Lisa Su and AMD (A)

By: Joshua D. Margolis, Matthew Preble and Dave Habeeb

This multimedia case study focuses on CEO Lisa Su’s turnaround and subsequent transformation of the technology company Advanced Micro Devices, Inc. (AMD). When Su accepted the top position in 2014, AMD was on the verge of collapse. Su focused on the company’s culture,... View Details

April 2025
Teaching Note

ZEISS: Commercializing Science

By: Maria P. Roche

Teaching Note for HBS Case No. 725-359. View Details

April 2025
Supplement

#FutureFresenius: 'Committed to Life' in 2024 and Beyond (B)

By: David J. Collis, Benjamin C. Esty and Haisley Wert

From February 2024 onward, Fresenius SE & Co. KGaA continued to make progress on the #FutureFresenius transformation that CEO Michael Sen had initiated in October 2022. The company had completed the initial "reset" phase and moved into the "revitalize" portion of the... View Details

Keywords: Corporate Strategy; Finance; Transformation; Leading Change; Health Industry; United States; Germany

April 2025
Case

#FutureFresenius: Implementing a New Strategy to Transform the Company and Advance Patient Care

By: David J. Collis, Benjamin C. Esty and Haisley Wert

In February 2024, Fresenius CEO Michael Sen reflected on the company’s transformation journey from his office in Bad Homburg, Germany. With revenues of €22 billion and a mission to advance patient care, Fresenius had built a strong reputation through decades of... View Details

Keywords: Strategic Planning; Corporate Strategy; Transformation; Finance; Leading Change; Organizational Culture; Organizational Structure; Alignment; Health Industry; Germany; United States

April 2025
Supplement

ZEISS: Commercializing Science

By: Maria P. Roche and Richie Zitomer

Spreadsheet Supplement for HBS Case No. 725-359. View Details

January 2025
Case

Davivienda Bank's Upskilling and Reskilling Strategy in Colombia (Abridged)

By: Jorge Tamayo, Raffaella Sadun and Jenyfeer Martinez Buitrago

Set in 2022, this abridged case examines the digital transformation strategy of Davivienda—a leading player in Colombia’s commercial banking sector and one of the companies belonging to Grupo Bolívar, a major Colombian conglomerate—and the bank’s upskilling and... View Details

January 2025 (Revised April 2025)
Case

Mercado Libre: The Best Is Yet to Come

By: Krishna G. Palepu, Fernando Fragueiro, Carla Larangeira and Mariana Cal

In 2024, Marcos Galperín, CEO and co-founder of Mercado Libre, reflected on its 25-year rise as Latin America’s largest marketplace, fintech leader, and most valuable public company. With operations spanning 18 countries and a robust ecosystem combining e-commerce,... View Details

October 2024
Article

Strategic Decision Making at Platform Transitions: The Case of Nokia (2010-2011).

By: Timo O. Vuori and Michael Tushman

We studied Nokia’s decision to adopt the Windows platform in 2011 to induce new theory on the emotional dynamics of incumbent firms’ strategic decision making at platform transitions. We find that platform companies’ entry into an established industry activates a... View Details

Keywords: Emotions; Technology Adoption; Corporate Strategy; Transition

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September–October 2024
Article

Why Multibusiness Strategies Fail and How to Make Them Succeed

By: Bharat Anand and David J. Collis

Enterprises that own multiple businesses often have a flawed approach to strategy: They focus too much on the makeup of their portfolios and too little on enhancing the businesses in them.
Strategies for adding value to a corporation’s businesses fall on a... View Details

Keywords: Value Creation; Corporate Strategy; Organizational Structure; Management Systems

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September 2024 (Revised February 2025)
Case

Aramco: Navigating the Energy Transition

By: Tarun Khanna and Gizem Cihan Dincsoy

In March 2024, Amin Nasser, president, and CEO of the Saudi Arabian Oil Company (Aramco), had just delivered a speech about the future of energy at a global energy conference. The world was behind schedule in meeting long-term climate change goals. The global shift... View Details

Keywords: Energy Transmission; Oil ＆ Gas; Economic Diversification; Corporate Strategy; Leadership; Business Strategy; Goals and Objectives; Transition; Environmental Sustainability; Diversification; Energy Industry; Saudi Arabia

July 2024
Case

ZEISS: Commercializing Science

By: Maria P. Roche, Carlota Moniz and Daniela Beyersdorfer

Karl Lamprecht, President and CEO of the ZEISS AG Group, mused on how far ZEISS had come in 175 years of being a pioneer in optics, and how the course he had charted since taking the helm of the company could keep it on track. In his role, he oversaw the four core... View Details

July 2024
Case

Board Director Dilemmas: Strategic Leadership

By: David G. Fubini and Patrick Sanguineti

Professor John Michaels, a distinguished scholar of corporate strategy, has served on the Board of OmniCo, a diversified industrial giant, for four years. Three months ago, the Board appointed a new CEO, Andrew Bennett, to lead growth, develop a more cooperative... View Details

Keywords: Board; Board Dynamics; Strategic Leadership; Governing and Advisory Boards; Corporate Strategy; Organizational Culture; Leadership Style; Management Succession

June 2024
Teaching Note

Beamery: Using Skills and AI to Modernize HR

By: Boris Groysberg, David Lane, Susan Pinckney and Alexis Lefort

Teaching Note for HBS Case No. 424-004. Unicorn human relationships startup Beamery evaluates it growth versus depth strategy as its strategic partners and customers could become future competitors in a quickly changing AI based human resources and talent management... View Details

June 2024
Supplement

Heritage Holding (A)

By: Richard S. Ruback and Royce Yudkoff

Pre-Abstract: Instructors should consider the timing of making videos available to students, as they may reveal key case details.

Abstract: The summer of 2022 marked a crucial period for Heritage Holding co-founders, Alex de Pfyffer and Ross Porter. The... View Details

Keywords: Acquisition; Small Business; Cost vs Benefits; Decisions; Business Education; Leadership Style; Leading Change; Business or Company Management; Problems and Challenges; Private Equity; Corporate Strategy; Business Model; North America

June 2024
Supplement

Heritage Holding (B)

By: Richard S. Ruback and Royce Yudkoff

Pre-Abstract: Instructors should consider the timing of making videos available to students, as they may reveal key case details.

Abstract: The summer of 2022 marked a crucial period for Heritage Holding co-founders, Alex de Pfyffer and Ross Porter. The... View Details

Keywords: Acquisition; Small Business; Cost vs Benefits; Decisions; Business Education; Leadership Style; Leading Change; Business or Company Management; Problems and Challenges; Private Equity; Corporate Strategy; Business Model; North America

June 2024 (Revised September 2024)
Case

Sequoia Capital

By: Jo Tango, Christina Wallace, Srimayi Mylavarapu and Johnson Elugbadebo

Sequoia Capital, a venture capital firm founded in 1972, quickly grew to become one of the most storied venture capital firms in the world. Fueled by a strong culture, Sequoia's investment track record included the names of some of the largest global successes.... View Details

Keywords: Venture Capital; Organizational Culture; Organizational Change and Adaptation; Restructuring; Corporate Strategy; Financial Services Industry

May 2024
Supplement

Net Protections (D)

By: Ramon Casadesus-Masanell, Nobuo Sato and Akiko Kanno

Finally, in Case D, in mid-2023, the company is considering further changes to its overall portfolio to continue driving profitable growth. View Details

Keywords: Growth and Development Strategy; Corporate Strategy

April 2024 (Revised December 2024)
Case

Anthropic: Building Safe AI

By: Shikhar Ghosh and Shweta Bagai

In late 2024, Anthropic, a leading AI safety and research company, achieved a significant breakthrough with computer use capabilities that allowed AI to interact with computers like humans. Co-founded by former OpenAI employees and known for its generative AI... View Details

Keywords: AI and Machine Learning; Corporate Accountability; Corporate Social Responsibility and Impact; Business Growth and Maturation; Corporate Strategy; Technology Industry; United States

April 2024
Case

Michelin in Motion: Putting Purpose to Work

By: Hubert Joly, Nitin Nohria and Emilie Billaud

When he became CEO, facing limited growth prospects, a low valuation, and therefore a stagnating share price, Menegaux and his team launched a set of initiatives to reposition Michelin. These included (1) articulating a clear purpose (“We care about giving people a... View Details