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      • January 2024 (Revised February 2024)
      • Exercise

      Travelogo: Understanding Customer Journeys

      By: Eva Ascarza, Nicolas Padilla and Oded Netzer
      In late May 2023, Sarah Merino, the newly appointed manager of the Customer Insights group at Travelogo—an online travel booking platform—initiates a comprehensive analysis of clickstream data to understand the varied behaviors and needs of their users. In preparation... View Details
      Keywords: Customer Relationship Management; Analysis; Analytics and Data Science; Marketing Strategy; Segmentation; Consumer Behavior; Travel Industry; United States
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      Ascarza, Eva, Nicolas Padilla, and Oded Netzer. "Travelogo: Understanding Customer Journeys." Harvard Business School Exercise 524-044, January 2024. (Revised February 2024.)
      • January 2024
      • Case

      BWX Technologies

      By: Suraj Srinivasan, Yuan Zou and Aldo Sesia
      Rex Geveden and Robb LeMasters, CEO and CFO of BWX Technologies, Inc. (BWXT), were concerned that investors and analysts did not fully appreciate the company's transformation from a nuclear reactor provider to the US Navy and Canadian utilities to a multi-product line... View Details
      Keywords: Transformation; Communication Intention and Meaning; Business and Shareholder Relations; Valuation; Diversification; United States; Canada
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      Srinivasan, Suraj, Yuan Zou, and Aldo Sesia. "BWX Technologies." Harvard Business School Case 124-071, January 2024.
      • January 2024
      • Case

      Vibrant Health

      By: Henry McGee and Sarah Mehta
      This case is about nutritional supplements company Vibrant Health, among the 100 largest Black-owned businesses in the U.S. After acquiring the company from its white founder in 2007, co-owners Ted and Paige Parker significantly grew its sales. Set in September 2023,... View Details
      Keywords: Business Ventures; Race; Entrepreneurship; Nutrition; Ownership; Business Strategy; Growth and Development Strategy; Leadership; Sales; Food and Beverage Industry; Health Industry; Eastern United States
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      McGee, Henry, and Sarah Mehta. "Vibrant Health." Harvard Business School Case 824-058, January 2024.
      • January 2024 (Revised May 2024)
      • Case

      Uncle Nearest: Creating a Legacy

      By: Hise Gibson, Archie L. Jones, Nicole Gilmore and Ai-Ling Jamila Malone
      Fawn Weaver, as a Black woman and industry outsider in a capital-intensive, highly regulated, competitive and male-dominated spirits industry, successfully overcame numerous obstacles to launch a premium American whiskey brand, Uncle Nearest in 2017, which became the... View Details
      Keywords: Advertising; Business Startups; Customer Focus and Relationships; Decisions; Forecasting and Prediction; Age; Ethnicity; Gender; Entrepreneurship; Working Capital; Innovation Leadership; Innovation Strategy; Intellectual Property; Trademarks; Leadership Style; Growth and Development; Growth and Development Strategy; Product Marketing; Product Launch; Marketing Strategy; Mission and Purpose; Organizational Culture; Private Ownership; Performance Effectiveness; Strategic Planning; Problems and Challenges; Prejudice and Bias; Social Issues; Competition; Competitive Strategy; Expansion; Entrepreneurial Finance; Food and Beverage Industry; Tourism Industry; United States; Tennessee; France
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      Gibson, Hise, Archie L. Jones, Nicole Gilmore, and Ai-Ling Jamila Malone. "Uncle Nearest: Creating a Legacy." Harvard Business School Case 824-047, January 2024. (Revised May 2024.)
      • January 2024
      • Case

      Sprouts Farmers Market

      By: Rajiv Lal, Forest L. Reinhardt and Natalie Kindred
      Sprouts Farmers Markets (Sprouts) is a Phoenix, Arizona-based chain of 400-plus natural foods stores in 23 U.S. states and $6.4 billion in sales as of 2022. In its product assortment, brand image, and store environment, Sprouts emphasizes freshness, health, innovation,... View Details
      Keywords: Business Model; Growth and Development Strategy; Brands and Branding; Strategic Planning; Sales; Business Strategy; Expansion; Product Positioning; Marketing Strategy; Competition; Retail Industry; United States; Arizona
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      Lal, Rajiv, Forest L. Reinhardt, and Natalie Kindred. "Sprouts Farmers Market." Harvard Business School Case 524-059, January 2024.
      • 2024
      • Chapter

      Managing, Preserving, and Unlocking Wealth through FinTech

      By: Grace Headinger, Lauren Cohen and Zhaoheng Gong
      In nearly every generation, a sentiment like Einstein’s has been expressed as a cautionary tale to constrain the development and application of technology. In spite of these calls, technology has time and again proven its utility and ability to improve across and upon... View Details
      Keywords: Fintech; Technological Innovation; Finance
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      Headinger, Grace, Lauren Cohen, and Zhaoheng Gong. "Managing, Preserving, and Unlocking Wealth through FinTech." Chap. 11 in Research Handbook on Alternative Finance, edited by Franklin Allen and Meijun Qian, 250–281. Northampton, MA: Edward Elgar Publishing, 2024.
      • 2024
      • Book

      The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create

      By: Steve Kaczynski and Scott Duke Kominers
      We demystify the coming digital revolution, showing how NFTs will transform our online and offline interactions.

      NFTs aren’t just pictures on the internet, or a fad that has come and gone. Rather, they’re a new technology for creating digital assets and... View Details
      Keywords: Economic Systems; Microeconomics; Entrepreneurship; Cultural Entrepreneurship; Information Technology; Innovation and Invention; Innovation Strategy; Digital Platforms; Digital Strategy; Digital Transformation; Internet and the Web; Technology Adoption; Marketing; Marketing Strategy; Product Marketing; Product Positioning; Markets; E-commerce; Market Design; Value; Customer Value and Value Chain; Collaborative Innovation and Invention; Innovation and Management; Organizational Structure; Customer Ownership; Ownership; Advertising Industry; Communications Industry; Computer Industry; Consumer Products Industry; Fashion Industry; Information Technology Industry; Media and Broadcasting Industry; Technology Industry; Web Services Industry
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      Kaczynski, Steve, and Scott Duke Kominers. The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create. Portfolio/Penguin, 2024.
      • December 22, 2023
      • Article

      How NFTs Will Make a Comeback in 2024

      By: Scott Duke Kominers and Steve Kaczynski
      NFTs are poised to be a major driver of Web3 adoption in 2024 – but the successful projects will look very different from what’s come before. View Details
      Keywords: NFTs; Web3; Crypto Economy; Value Creation; Brands and Branding; Marketing Strategy
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      Kominers, Scott Duke, and Steve Kaczynski. "How NFTs Will Make a Comeback in 2024." Consensus Magazine (December 22, 2023).
      • December 2023 (Revised February 2024)
      • Case

      21Seeds: Taking Shots at Breakout Growth

      By: Elie Ofek, Julian De Freitas, Michael Moynihan and Nicole Tempest Keller
      21Seeds, a female-founded flavor-infused tequila startup launched in 2019, had made inroads into the alcoholic beverage industry by focusing on an underserved consumer segment in spirits—women, primarily in their 30s and 40s, many of whom were moms—and by following a... View Details
      Keywords: Mergers and Acquisitions; Business Startups; Growth and Development Strategy; Brands and Branding; Product Positioning; Distribution Channels; Sales; Food and Beverage Industry
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      Ofek, Elie, Julian De Freitas, Michael Moynihan, and Nicole Tempest Keller. "21Seeds: Taking Shots at Breakout Growth." Harvard Business School Case 524-008, December 2023. (Revised February 2024.)
      • December 2023 (Revised July 2024)
      • Case

      Boortmalt: The Master Maltster

      By: Forest Reinhardt, Jose B Alvarez, Damien McLoughlin, Lena Duchene and Emer Moloney
      By May 2023, Boortmalt was the world’s leading producer of malt, with a production capacity of 3 million tonnes, 15% of global market share, and 27 malting plants across five continents. It had recently acquired a major competitor and had sustained an EBITDA growth of... View Details
      Keywords: Plant-Based Agribusiness; Mergers and Acquisitions; Talent and Talent Management; Customer Focus and Relationships; Values and Beliefs; Financing and Loans; Employee Relationship Management; Collaborative Innovation and Invention; Innovation Leadership; Knowledge Sharing; Leadership Style; Business or Company Management; Growth and Development Strategy; Growth Management; Management Style; Resource Allocation; Corporate Social Responsibility and Impact; Strategic Planning; Environmental Sustainability; Organizational Culture; Agriculture and Agribusiness Industry; Belgium; Europe
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      Reinhardt, Forest, Jose B Alvarez, Damien McLoughlin, Lena Duchene, and Emer Moloney. "Boortmalt: The Master Maltster." Harvard Business School Case 724-021, December 2023. (Revised July 2024.)
      • December 2023 (Revised August 2024)
      • Supplement

      Microsoft Azure and the Cloud Wars (B)

      By: Andy Wu and Matt Higgins
      By 2023, the global market for cloud infrastructure had consolidated into a three-horse race. As of Q4 2022, Amazon, Microsoft, and Google collectively accounted for 66% of the global market. AWS had a market share of 33%, Microsoft Azure had 23%, and Google Cloud had... View Details
      Keywords: Microsoft; Artificial Intelligence; AI; Competition; Information Infrastructure; Market Participation
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      Wu, Andy, and Matt Higgins. "Microsoft Azure and the Cloud Wars (B)." Harvard Business School Supplement 724-434, December 2023. (Revised August 2024.)
      • December 2023
      • Case

      Food & Life Companies

      By: Forest L. Reinhardt and Akiko Saito
      Founded in 1984 in Japan, Food & Life Companies Ltd. (F&LC) operated Sushiro, the largest conveyor belt sushi restaurant chain in Japan, and other types of restaurants that offered sushi and fish cuisine. F&LC was committed to offering high-quality sushi at an... View Details
      Keywords: Growth and Development Strategy; Market Entry and Exit; Expansion; Food and Beverage Industry; Japan; Asia; United States
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      Reinhardt, Forest L., and Akiko Saito. "Food & Life Companies." Harvard Business School Case 724-015, December 2023.
      • 2023
      • Article

      Balancing Risk and Reward: An Automated Phased Release Strategy

      By: Yufan Li, Jialiang Mao and Iavor Bojinov
      Phased releases are a common strategy in the technology industry for gradually releasing new products or updates through a sequence of A/B tests in which the number of treated units gradually grows until full deployment or deprecation. Performing phased releases in a... View Details
      Keywords: Product Launch; Mathematical Methods; Product Development
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      Li, Yufan, Jialiang Mao, and Iavor Bojinov. "Balancing Risk and Reward: An Automated Phased Release Strategy." Advances in Neural Information Processing Systems (NeurIPS) (2023).
      • November 2023 (Revised April 2025)
      • Case

      Norse Atlantic Airways

      By: Willy Shih
      Bjørn Tore Larsen, Norse Atlantic Airways' founder and CEO, hadn't planned to get into the airline business. But when the COVID-19 pandemic depressed the global demand for air travel and the lease rates for jetliners, he realized if ever he was going to get into the... View Details
      Keywords: Business Model; Business Startups; Market Entry and Exit; Leasing; Business Strategy; Segmentation; Interest Rates; Air Transportation Industry; Europe; North America; Norway; United Kingdom; United States
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      Shih, Willy. "Norse Atlantic Airways." Harvard Business School Case 624-034, November 2023. (Revised April 2025.)
      • November 2023 (Revised April 2024)
      • Case

      BiomX: Bringing Phage Back to the Stage

      By: Paul A. Gompers, Elie Ofek, Orna Dan and Emilie Billaud
      In the spring of 2023, and following the favorable results of a trial involving its phage cocktail for treating lung infections among cystic fibrosis (CF) patients, the leadership of BiomX had several critical issues to wrestle with. First, given its precarious... View Details
      Keywords: Working Capital; Financing and Loans; Health Testing and Trials; Product Development; Research and Development; Science-Based Business; Commercialization; Biotechnology Industry; Pharmaceutical Industry
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      Gompers, Paul A., Elie Ofek, Orna Dan, and Emilie Billaud. "BiomX: Bringing Phage Back to the Stage." Harvard Business School Case 524-051, November 2023. (Revised April 2024.)
      • November 2023
      • Case

      From Imitation to Innovation: Zongshen Industrial Group (Abridged)

      By: Willy Shih and Nancy Dai
      Like other small shops based in Chongqing, China, Zongshen Industrial Group started by assembling motorcycles from "standard" parts. The quality of its early products was good enough for rural Chinese buyers, though wealthier consumers usually purchased premium... View Details
      Keywords: Disruptive Innovation; Growth and Development Strategy; Organizational Change and Adaptation; Competitive Strategy; Supply Chain; Product Positioning; Manufacturing Industry; Motorcycle Industry; China
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      Shih, Willy, and Nancy Dai. "From Imitation to Innovation: Zongshen Industrial Group (Abridged)." Harvard Business School Case 624-056, November 2023.
      • November 2023 (Revised March 2024)
      • Case

      Infarm: Betting the (Indoor) Farm on Food Security

      By: Elie Ofek
      In the summer of 2023, the co-founders of Infarm, a controlled environment agriculture (CEA) company, were contemplating a major pivot going forward. While Infarm had successfully shown it could grow over 75 products—mainly herbs, leafy greens and mushrooms—in modular... View Details
      Keywords: Plant-Based Agribusiness; Business Model; Market Entry and Exit; Science-Based Business; Business Strategy; Transition; Agriculture and Agribusiness Industry; Europe; North America; Toronto; Northeastern United States
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      Ofek, Elie. "Infarm: Betting the (Indoor) Farm on Food Security." Harvard Business School Case 524-043, November 2023. (Revised March 2024.)
      • November 2023
      • Case

      Copilot(s): Generative AI at Microsoft and GitHub

      By: Frank Nagle, Shane Greenstein, Maria P. Roche, Nataliya Langburd Wright and Sarah Mehta
      This case tells the story of Microsoft’s 2018 acquisition of GitHub and the subsequent launch of GitHub Copilot, a tool that uses generative artificial intelligence to suggest snippets of code to software developers in real time. Set in late 2021, when Copilot was... View Details
      Keywords: Business Ventures; Strategy; AI and Machine Learning; Applications and Software; Product Launch; Information Technology Industry; Technology Industry; Web Services Industry; United States; California
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      Nagle, Frank, Shane Greenstein, Maria P. Roche, Nataliya Langburd Wright, and Sarah Mehta. "Copilot(s): Generative AI at Microsoft and GitHub." Harvard Business School Case 624-010, November 2023.
      • November 2023
      • Case

      Tata Group in 2021: Pursuing Profits through Purpose

      By: Tarun Khanna, Krishna G. Palepu and Vidhya Muthuram
      October 8, 2021: Tata Sons won a bid to acquire India’s national carrier Air India, marking the airline's return to its original owners after 68 long years. The winning bid of $2.4 billion gave Tata Sons full ownership of the airline and its coveted network of 6,200... View Details
      Keywords: Corporate Strategy; Mission and Purpose; Corporate Social Responsibility and Impact; Emerging Markets; Mergers and Acquisitions; Ownership; Air Transportation; Air Transportation Industry; India
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      Khanna, Tarun, Krishna G. Palepu, and Vidhya Muthuram. "Tata Group in 2021: Pursuing Profits through Purpose." Harvard Business School Case 124-047, November 2023.
      • November 2023
      • Case

      Apple Inc. in 2023

      By: David B. Yoffie and Sarah von Bargen
      Under CEO Tim Cook, Apple became the first trillion dollar market cap company, the first two trillion dollar company, and the first three trillion dollar company. Since the COVID pandemic, Apple gained over 20% of the world smartphone market and 50% of the U.S. market,... View Details
      Keywords: Competitive Advantage; Product Positioning; Emerging Markets; Competitive Strategy; Technological Innovation; Revenue; Technology Industry
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      Yoffie, David B., and Sarah von Bargen. "Apple Inc. in 2023." Harvard Business School Case 724-419, November 2023.
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