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  • All HBS Web  (12,556)
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  • August 2014 (Revised August 2015)
  • Supplement

Opening the Valve: From Software to Hardware (B)

By: Ethan Bernstein, Francesca Gino and Bradley Staats
Valve, one of the world's top video game software companies, has also become an iconic example of an organization with virtually no hierarchy. A 400-person organization, Valve's unique organizational form (described in detail in the case and accompanying employee... View Details
Keywords: Valve; Self-Managed Organizations; Organization Design; Strategy; Flat Organization; Video Games; Organization Alignment; Family Business; Steam; Steam Machine; Design; Games, Gaming, and Gambling; Human Resources; Collaborative Innovation and Invention; Technological Innovation; Leadership Style; Management Practices and Processes; Organizational Design; Organizational Structure; Organizational Culture; Organizational Change and Adaptation; Groups and Teams; Alignment; Software; Hardware; Video Game Industry; Seattle
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Bernstein, Ethan, Francesca Gino, and Bradley Staats. "Opening the Valve: From Software to Hardware (B)." Harvard Business School Supplement 415-016, August 2014. (Revised August 2015.)
  • February 2011 (Revised June 2011)
  • Case

Hardina Smythe and the Healthcare Investment Conundrum

By: Matthew Rhodes-Kropf, Ann Leamon and Lisa Strope
Hardina Smythe, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2010. Her first assignment is to evaluate three different deals and make recommendations to the partners. Each potential investment has strengths... View Details
Keywords: Venture Capital; Asset Management; Private Equity; Entrepreneurship; Investment; Health Care and Treatment; Innovation and Invention; Financial Services Industry
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Rhodes-Kropf, Matthew, Ann Leamon, and Lisa Strope. "Hardina Smythe and the Healthcare Investment Conundrum." Harvard Business School Case 811-073, February 2011. (Revised June 2011.)
  • May 2011
  • Case

The Morrison Company

By: Steven C. Wheelwright and Paul Meyers
The Morrison Company develops and manufactures radio frequency identification tags (RFID) known as smart labels for the retail and pharmaceutical industries. RFID technology is a fast-growing and increasingly competitive industry. Sales have risen dramatically over the... View Details
Keywords: Quantitative Analysis; Technology; Operations Management; Product Lines; Manufacturing; Capacity Planning; Production Planning; Information Technology; Strategy; Production; Organizational Structure; Infrastructure; Product Development; Information Infrastructure; Manufacturing Industry; Retail Industry; Pharmaceutical Industry; Electronics Industry
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Wheelwright, Steven C., and Paul Meyers. "The Morrison Company." Harvard Business School Brief Case 114-564, May 2011.
  • June 2008 (Revised April 2013)
  • Case

Bernd Beetz: Creating the New Coty

By: Geoffrey Jones and David Kiron
Considers the creation of the world's largest fragrance company by Bernd Beetz, appointed chief executive of Coty Inc. in 2001. In 1990 the German consumer goods company Benkiser began acquiring fragrance and cosmetics brands with the intent of developing a beauty... View Details
Keywords: Mergers and Acquisitions; Entrepreneurship; Globalized Firms and Management; Growth and Development Strategy; Corporate Strategy; Beauty and Cosmetics Industry; Germany; United States
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Jones, Geoffrey, and David Kiron. "Bernd Beetz: Creating the New Coty." Harvard Business School Case 808-133, June 2008. (Revised April 2013.)
  • Article

Space, the Final Economic Frontier

By: Matthew C. Weinzierl
After decades of centralized control of economic activity in space, NASA and U.S. policymakers have begun to cede the direction of human activities in space to commercial companies. NASA garnered more than 0.7% of GDP in the mid-1960s but is only around 0.1% of GDP... View Details
Keywords: Emerging Markets; Economics; Private Sector; Aerospace Industry
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Weinzierl, Matthew C. "Space, the Final Economic Frontier." Journal of Economic Perspectives 32, no. 2 (Spring 2018): 173–192.
  • 2006
  • Working Paper

Future Lock-In: Future Implementation Increases Selection of 'Should' Choices

By: Todd Rogers and Max H. Bazerman
People often experience tension over certain choices (e.g., they should reduce their gas consumption or increase their savings, but they do not want to). Some posit that this tension arises from the competing interests of a deliberative "should" self and... View Details
Keywords: Decision Choices and Conditions; Attitudes; Conflict and Resolution; Cognition and Thinking
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Rogers, Todd, and Max H. Bazerman. "Future Lock-In: Future Implementation Increases Selection of 'Should' Choices." Harvard Business School Working Paper, No. 07-038, December 2006. (Revised May 2007, August 2007.)
  • June 2025
  • Article

Transitory and Permanent Cash Flow Shocks in Debt Contract Design

By: Le Ma, Anywhere Sikochi and Yajun Xiao
We examine how lenders design contracts to account for transitory and permanent cash flow shocks facing borrowers. We find that volatile transitory cash flow shocks are associated with fewer liquidity covenants, indicating financial flexibility that enables firms to... View Details
Keywords: Debt Covenants; Cash Flow Shocks; Debt Contracting; Likelihood Of Default; Cash Flow; System Shocks
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Ma, Le, Anywhere Sikochi, and Yajun Xiao. "Transitory and Permanent Cash Flow Shocks in Debt Contract Design." Journal of Financial and Quantitative Analysis 60, no. 4 (June 2025): 1925–1964.
  • January 2000 (Revised September 2002)
  • Case

Hitting the Wall: Nike and International Labor Practices

By: Debora L. Spar and Jennifer Burns
In the mid-1990s Nike, one of the world's most successful footwear companies, is hit by a spate of alarmingly bad publicity. After years of high-profile media attention as the company that can "just do it," Nike is suddenly being portrayed as a firm that relies on... View Details
Keywords: Wages; Developing Countries and Economies
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Spar, Debora L., and Jennifer Burns. "Hitting the Wall: Nike and International Labor Practices." Harvard Business School Case 700-047, January 2000. (Revised September 2002.)
  • December 2008
  • Article

Which Kind of Collaboration Is Right for You?

By: Roberto Verganti and Gary P. Pisano
Nowadays, virtually no companies innovate alone. Firms team up with a variety of partners, in a wide number of ways, to create new technologies, products, and services. But what is the best way to leverage the power of outsiders? To help executives answer that... View Details
Keywords: Cost vs Benefits; Framework; Collaborative Innovation and Invention; Innovation and Management; Partners and Partnerships; Social and Collaborative Networks; Strategy
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Verganti, Roberto, and Gary P. Pisano. "Which Kind of Collaboration Is Right for You?" Harvard Business Review 86, no. 12 (December 2008).

    The Looming Challenge to U.S. Competitiveness

    The American economy is clearly struggling to recover from a recession of unusual depth and duration, as we are reminded nearly every day. But the United States also faces a less visible but more fundamental challenge: a series of underlying... View Details

    • 2023
    • Working Paper

    The Optimal Stock Valuation Ratio

    By: Sebastian Hillenbrand and Odhrain McCarthy
    Trailing price ratios, such as the price-dividend and the price-earnings ratio, scale prices by trailing cash flow measures. They theoretically contain expected returns, yet, their performance in predicting stock market returns is poor. This is because of an omitted... View Details
    Keywords: Price; Investment Return; AI and Machine Learning; Valuation; Cash Flow; Forecasting and Prediction
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    Hillenbrand, Sebastian, and Odhrain McCarthy. "The Optimal Stock Valuation Ratio." Working Paper, November 2023.
    • 01 Dec 2015
    • News

    Golden State of Mind

    (formerly Draper Fisher Jurvetson), the venture capital firm he founded in 1985 as a small business investment company called Draper Associates. Conventionally dressed, his tie nonetheless depicts a map... View Details
    Keywords: Julia Hanna
    • 21 Feb 2005
    • Research & Ideas

    The VC Quandary: Too Much Money

    home run" or for U.S. firms that need to penetrate the European market. Mullen spoke as a member of the panel "State View Details
    Keywords: by Julie Jette; Financial Services
    • July 2009 (Revised October 2011)
    • Case

    VeeV on the Rocks?

    By: Joshua D. Margolis, Christopher Marquis and Laura Winig
    Three pressing challenges (equity split, extent of commitment to social responsibility, and product discoloration) confront VeeV, the world's first alcoholic beverage infused with acai berries. Brothers Courtney and Carter Reum founded VeeV in 2007 and the firm has... View Details
    Keywords: Quality; Food; Business Growth and Maturation; Ethics; Corporate Social Responsibility and Impact; Entrepreneurship; Business Startups; Equity; Food and Beverage Industry
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    Margolis, Joshua D., Christopher Marquis, and Laura Winig. "VeeV on the Rocks?" Harvard Business School Case 410-006, July 2009. (Revised October 2011.)
    • August 2012
    • Article

    Dynamically Integrating Knowledge in Teams: A Resource-based View of Team Performance

    By: H. K. Gardner, F. Gino and B. Staats
    In knowledge-based environments, teams must develop a systematic approach to integrating knowledge resources throughout the course of projects in order to perform effectively. Yet, many teams fail to do so. Drawing on the resource-based view of the firm, we examine how... View Details
    Keywords: Groups and Teams; Projects; Performance Effectiveness; Knowledge Sharing; Employees; Theory; Framework; Management Practices and Processes; Research
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    Gardner, H. K., F. Gino, and B. Staats. "Dynamically Integrating Knowledge in Teams: A Resource-based View of Team Performance." Academy of Management Journal 55, no. 4 (August 2012): 998–1022.
    • Article

    The Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel

    By: Dennis Campbell and Frances X. Frei
    This paper uses the context of online banking to investigate the consequences of employing self-service distribution channels to alter customer interactions with the firm. Using a sample of retail banking customers observed over a 30-month period at a large U.S. bank,... View Details
    Keywords: Cost; Service Operations; Distribution Channels; Consumer Behavior; Internet and the Web; Banks and Banking; Technology Adoption; Service Delivery; Market Transactions; Market Participation; Profit; Retail Industry; Banking Industry; United States
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    Campbell, Dennis, and Frances X. Frei. "The Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel." Management Science 56, no. 1 (January 2010): 4–24. (Lead Article.)
    • 29 Apr 2013
    • News

    The fragrance series – Part 3

      Endogenous Productivity of Demand-Induced R&D: Evidence from Pharmaceuticals

      When people want more new drugs, firms are happy to invest in ideas that cost more. And as they run out of "low hanging fruit" while demand keeps growing, R&D costs will naturally grow.

      Abstract: We examine trends in the productivity of the... View Details
      • 02 Jan 2012
      • Research & Ideas

      Most Popular Articles of 2011

      that shows how CSR can make it easier for firms to secure financing for new projects. Research was conducted by George Serafeim and Beiting Cheng of Harvard Business School and Ioannis Ioannou View Details
      Keywords: by Staff
      • January 1983 (Revised February 1988)
      • Case

      Hospital Corp. of America (B)

      By: W. Carl Kester
      Focuses on HCAs financing options for reaching its target capital structure. The options include new equity conversion of convertible debentures, a debt-for-equity swap, the sale of assets, and fixed-rate debt. Students must address the problem of market timing and... View Details
      Keywords: Assets; Capital Structure; Cash Flow; Equity; Debt Securities; Credit Derivatives and Swaps; Health Industry; United States
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      Kester, W. Carl. "Hospital Corp. of America (B)." Harvard Business School Case 283-054, January 1983. (Revised February 1988.)
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