Publications

January 2017
Case

The Six CEOs of Tyco International Ltd.

By: John R. Wells and Gabriel Ellsworth

In September 2016, Johnson Controls, Inc. completed the acquisition of Tyco International PLC, a $9.9 billion business with operating profits of $884 million. The purchase consideration was $14.4 billion. Although the deal was billed as a merger, Ireland-based Tyco... View Details

Keywords: Tyco; Dennis Kozlowski; Edward Breen; Fire Safety; Fire Protection; Security; Packaging; Securities And Exchange Commission; Fraud; Accounting; Accounting Audits; Earnings Management; Financial Statements; Goodwill Accounting; Acquisition; Mergers and Acquisitions; Business Conglomerates; Business Divisions; Business Exit or Shutdown; Business Growth and Maturation; Business Headquarters; Business Model; Business Organization; For-Profit Firms; Restructuring; Crime and Corruption; Engineering; Applied Optics; Chemicals; Construction; Metals and Minerals; Ethics; Finance; Cash Flow; Public Equity; Stock Options; Financing and Loans; Initial Public Offering; Profit; Revenue; Geographic Location; Geographic Scope; Global Range; Globalized Firms and Management; Multinational Firms and Management; Corporate Accountability; Corporate Disclosure; Health Care and Treatment; Business History; Executive Compensation; Selection and Staffing; Courts and Trials; Lawfulness; Lawsuits and Litigation; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Public Ownership; Problems and Challenges; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Consolidation; Corporate Strategy; Diversification; Expansion; Horizontal Integration; Value; Chemical Industry; Construction Industry; Consumer Products Industry; Electronics Industry; Energy Industry; Industrial Products Industry; Manufacturing Industry; Medical Devices and Supplies Industry; Mining Industry; Pharmaceutical Industry; Semiconductor Industry; Telecommunications Industry; Utilities Industry; Republic of Ireland; Switzerland; Bermuda; United States; New Hampshire

Often downplayed in the excitement of starting up a new business venture is one of the most important decisions entrepreneurs will face: should they go it alone, or bring in... View Details

2024
Working Paper

When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets

By: Ishita Sen, Pari Sastry and Ana-Maria Tenekedjieva

This paper studies how homeowners insurance markets respond to growing climate losses and how this impacts mortgage market dynamics. Using Florida as a case study, we show that traditional insurers are exiting high risk areas, and new lower quality insurers are... View Details

Keywords: Insurance; Natural Disasters; Governing Rules, Regulations, and Reforms; Insurance Industry; Florida

SSRN

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March 2022 (Revised August 2022)
Case

LooksRare: The Decentralized, Tokenized, NFT Marketplace

By: Scott Duke Kominers, Shai Bernstein and George Gonzalez

LooksRare launched a decentralized and anonymous organization to compete against NFT marketplace leader OpenSea. By launching its own cryptocurrency, LooksRare attempted to lure users with a digital rewards program. The nature of the organization and its business... View Details

Keywords: NFTs; Alternative Assets; Blockchain; Cryptocurrency; Customer Relationship Management; Market Entry and Exit; Business Model; Marketing

10 Sep 2013
First Look

First Look: September 10

of exiting or continuing to build her business. Purchase this case: http://hbr.org/search/313149-PDF-ENG Harvard Business School Case 313-139 Note on Pension Guarantee Funds The United States and the United... View Details

Keywords: Sean Silverthorne

February 2017 (Revised December 2018)
Case

From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem (Abridged)

By: Elie Ofek and Margot Eiran

In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “start-up nation.” Despite the economic miracle the country had wrought since its founding, he... View Details

Keywords: Innovation and Management; Entrepreneurship; Business Startups; Government and Politics; Economy; Equality and Inequality; Israel

Research Summary

Overview

By: Feng Zhu

Professor Zhu’s research focuses on the design of platform business models and its impact on platform performance. Platforms have become central to our economy. A platform is a product or service that enables two or more customer groups to interact. For example,... View Details

October 2013 (Revised January 2017)
Case

Walmart around the World

By: Juan Alcácer, Abhishek Agrawal and Harshit Vaish

After reaching the limits of its successful expansion in the United States in the early 1990s, Walmart sought growth opportunities in markets abroad. This case describes Walmart's attempts to replicate its successful U.S. business model in Mexico, Canada, Brazil,... View Details

Keywords: Multinational Firms and Management; Success; Globalized Markets and Industries; Expansion; Market Entry and Exit; Failure; Retail Industry; Germany; China; Argentina; South Korea; Canada; Japan; Brazil; Africa; United Kingdom; United States; Mexico

14 Jul 2020
Research & Ideas

Restarting Under Uncertainty: Managerial Experiences from Around the World

As economies reopen after forced shutdowns caused by COVID-19, managers around the world are faced with a dual challenge: keep the workforce safe while preserving business viability in an evolving and volatile market. How should View Details

Keywords: by Raffaella Sadun, Andrea Bertoni, Alexia Delfino, Giovanni Fassio, and Mariapaola Testa

October 2016
Case

The Quiet Ascension of LA Fitness

By: John R. Wells and Gabriel Ellsworth

In 2016, LA Fitness was the largest chain of non-franchised fitness clubs in North America, operating 676 clubs, serving 4.9 million members, and generating revenues of over $1.9 billion. Founded by Chinyol Yi, Louis Welch, and Paul Norris in 1984, the privately held... View Details

Keywords: LA Fitness; Health Clubs; Fitness; Gyms; Chain; Exercise; Personal Training; Retention; Bally Total Fitness; 24 Hour Fitness; Planet Fitness; Buildings and Facilities; Acquisition; Business Growth and Maturation; Business Model; For-Profit Firms; Customers; Customer Focus and Relationships; Customer Satisfaction; Demographics; Age; Gender; Income; Residency; Borrowing and Debt; Capital; Capital Structure; Cash; Cash Flow; Cost; Private Equity; Financial Condition; Financial Liquidity; Financing and Loans; Investment Return; Price; Profit; Revenue; Geographic Location; Geographic Scope; Multinational Firms and Management; Business History; Employees; Recruitment; Selection and Staffing; Human Capital; Contracts; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Operations; Service Operations; Leasing; Private Ownership; Problems and Challenges; Sales; Salesforce Management; Situation or Environment; Opportunities; Sports; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Corporate Strategy; Expansion; Segmentation; Information Technology; Mobile Technology; Technology Platform; Health Industry; United States; California; Los Angeles

Web

Podcasts - Managing the Future of Work

Podcast Podcast Harvard Business School Professors Bill Kerr and Joe Fuller talk to leaders grappling with the forces reshaping the nature of work. Apple Podcasts Spotify Amazon More Ways to Listen iHeartRadio Player.fm Audacy Castbox... View Details

December 2016
Article

Deal Process Design in Management Buyouts

By: Guhan Subramanian

Management buyouts (MBOs) are an economically and legally significant class of transaction: not only do they account for more than $10 billion in deal volume per year, on average, but they also play an important role in defining the relationship between inside and... View Details

Keywords: Management Buyout; Deal Structuring; Acquisition; Design; Fairness

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Research Summary

Strategic Human Capital

My research focuses on the links between managerial background, job attributes, organizational/firm characteristics, and firm performance. Broadly speaking, I am interested in how a manager's skills, knowledge, connections, experiences, and other attributes... View Details

08 Feb 2010
HBS Case

Looking Behind Google’s Stand in China

working inside the country to create value for its Chinese users, employees, and business partners. To critics, Google was selling out its core principles to play in the world's second largest economy. “Google shot themselves in the foot... View Details

Keywords: by Sean Silverthorne; Technology

May 2022
Case

Maestro Pizza: Coming in Hot!

By: Ramon Casadesus-Masanell and Fares Khrais

Maestro Pizza opened its first store in 2013 after its founder, Khalid Al Omran, recognized an opportunity in Saudi Arabia to offer high quality pizza at affordable prices. The business grew rapidly and under the radar at first, but soon enough caught the attention of... View Details

February 2001 (Revised February 2002)
Case

Estee Lauder and the Market for Prestige Cosmetics

By: Nancy F. Koehn

Opens with a brief history of the U.S. cosmetics market and its rapid development in the 1920s. Also recounts Lauder's initial involvement in the sector, making skin care products and selling them in Manhattan beauty parlors during the Great Depression. Pays particular... View Details

Keywords: Fluctuation; Organizational Change and Adaptation; Market Entry and Exit; Entrepreneurship; Luxury; Business Strategy; Society; Beauty and Cosmetics Industry; United States