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      • September–October 2023
      • Article

      The New Era of Industrial Policy Is Here

      By: Willy C. Shih
      Governments around the world are increasingly intervening in the private sector through industrial policies designed to help domestic sectors reach goals that markets alone are unlikely to achieve. Companies in targeted sectors—such as automakers, energy companies, and... View Details
      Keywords: Policy; Government and Politics; Business and Government Relations; Research and Development; Economic Sectors
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      Shih, Willy C. "The New Era of Industrial Policy Is Here." Harvard Business Review 101, no. 5 (September–October 2023): 66–75.
      • August 2023
      • Technical Note

      Two Ways of Pursuing a Calling

      By: Leslie Perlow and Hannah Weisman
      Work can be a means to a financial end, a stepping stone to higher-level jobs, or a meaningful end in itself: a calling. The technical note provides an overview of two different ways people can pursue a calling: with an internal focus or external focus. View Details
      Keywords: Personal Development and Career; Job Search; Job Design and Levels; Happiness; Identity; Well-being; Motivation and Incentives; Human Needs; Satisfaction; Mission and Purpose; Health Industry; Music Industry; Education Industry; Fine Arts Industry; Motion Pictures and Video Industry
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      Perlow, Leslie, and Hannah Weisman. "Two Ways of Pursuing a Calling." Harvard Business School Technical Note 424-023, August 2023.
      • August 2023 (Revised May 2024)
      • Case

      Dicerna Pharmaceuticals: Decision Making in Clinical Trial Design and Operations

      By: Satish Tadikonda and Amanda McEwen
      The success or failure of Dicerna Pharmaceuticals (Dicerna) as an emerging pharmaceutical company would likely hinge on its lead drug candidate Nedosiran and the company’s ability to see it successfully through clinical development. Ralf Rosskamp, Chief Medical... View Details
      Keywords: Business Strategy; Health Testing and Trials; Product Development; Governing Rules, Regulations, and Reforms; Pharmaceutical Industry
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      Tadikonda, Satish, and Amanda McEwen. "Dicerna Pharmaceuticals: Decision Making in Clinical Trial Design and Operations." Harvard Business School Case 824-018, August 2023. (Revised May 2024.)
      • August 2023 (Revised April 2024)
      • Case

      eBee: Affordable Mobility for Africa

      By: Ramon Casadesus-Masanell and Gamze Yucaoglu
      The case opens in March 2023, as Sten van der Ham and Jaap Maljers, CEO and co-founder of eBee, an electric bike (e-bike) company in Africa, are contemplating the different avenues for growth and path to profitability for the young and ambitious company. In 2023, the... View Details
      Keywords: Business Model; Business Startups; Growth and Development Strategy; Business Strategy; Bicycle Industry; Africa; Kenya
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      Casadesus-Masanell, Ramon, and Gamze Yucaoglu. "eBee: Affordable Mobility for Africa." Harvard Business School Case 724-360, August 2023. (Revised April 2024.)
      • August 2023
      • Teaching Note

      Kunshan, Incorporated: The Making of China’s Richest Town

      By: William C. Kirby and Noah B. Truwit
      Teaching Note for HBS Case No. 313-103. The case is designed to give the students an understanding of the local Chinese entrepreneurial state and how foreign and Chinese firms have worked with it to create China’s richest small city. The major themes are—local state... View Details
      Keywords: Higher Education; Entrepreneurship; Economic Growth; Economic Systems; Business and Government Relations; Development Economics; China
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      Kirby, William C., and Noah B. Truwit. "Kunshan, Incorporated: The Making of China’s Richest Town." Harvard Business School Teaching Note 324-020, August 2023.
      • August 2023
      • Case

      Salma Qarnain: Spaceships to Broadway

      By: Leslie Perlow, Mel Martin and Hannah Weisman
      Salma Qarnain, daughter of Pakistani Muslim immigrants, is an engineer trained at Stanford and MIT. She began her career building spacecrafts but 30 years later finds herself pursuing her calling, acting on Broadway. The case explores Qarnain’s career path, family... View Details
      Keywords: Personal Development and Career; Job Search; Job Design and Levels; Happiness; Identity; Well-being; Work-Life Balance; Family and Family Relationships; Theater Entertainment; Film Entertainment; Talent and Talent Management; Entertainment and Recreation Industry; Motion Pictures and Video Industry; Aerospace Industry; United States; New York (city, NY); Boston; California
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      Perlow, Leslie, Mel Martin, and Hannah Weisman. "Salma Qarnain: Spaceships to Broadway." Harvard Business School Case 424-018, August 2023.
      • August 2023
      • Case

      Augmenix: Space to Think Differently

      By: Satish Tadikonda and Sidhant Jena
      Amar Sawhney, a serial medtech entrepreneur, had founded Augmenix to develop and commercialize a hydrogel-based medical device called SpaceOAR as an adjunctive technology to core radiation therapy. This technology was used to protect organs at risk (OAR) during... View Details
      Keywords: Entrepreneurship; Health Care and Treatment; Technology Adoption; Innovation Strategy; Technological Innovation; Product Development; Commercialization; Medical Devices and Supplies Industry
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      Tadikonda, Satish, and Sidhant Jena. "Augmenix: Space to Think Differently." Harvard Business School Case 824-031, August 2023.
      • August 2023
      • Case

      Kariyer.net: Recruiting AI

      By: Shunyuan Zhang, Fares Khrais and Namrata Arora
      In 2017, Fatih Uysal (AMP 2021) became CEO of Kariyer.net. By then, the business was already the industry leading online job board in Turkey. However, faced with stalling growth, a turbulent macroenvironment, and growing competition from international players, Uysal... View Details
      Keywords: Online Technology; Marketing; Websites; Artificial Intelligence; Innovation; Two-sided Platforms; Internet and the Web; Product Launch; Product Positioning; Job Search; Employment; Transformation; Volatility; Innovation and Invention; Disruptive Innovation; Management Practices and Processes; Business Growth and Maturation; Competitive Strategy; Business Startups; Talent and Talent Management; Cost vs Benefits; Macroeconomics; Corporate Entrepreneurship; Emerging Markets; Digital Platforms; Employment Industry; Information Technology Industry; Technology Industry; Middle East; Turkey
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      Zhang, Shunyuan, Fares Khrais, and Namrata Arora. "Kariyer.net: Recruiting AI." Harvard Business School Case 524-014, August 2023.
      • August 2023 (Revised September 2023)
      • Case

      Zegna

      By: Rohit Deshpandé, Dante Roscini and Elena Corsi
      In 2023, the Italian luxury Zegna brand, traditionally known for formal menswear, was refocusing towards leisure wear, following a recent consumer trend. Such a move exposed the brand to more competition, in a segment where perhaps its made-in-Italy feature was less of... View Details
      Keywords: Marketing Strategy; Product Marketing; Product Positioning; Luxury; Competition; Fashion Industry; Italy
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      Deshpandé, Rohit, Dante Roscini, and Elena Corsi. "Zegna." Harvard Business School Case 524-021, August 2023. (Revised September 2023.)
      • August 2023
      • Article

      Can Security Design Foster Household Risk-Taking?

      By: Laurent Calvet, Claire Célérier, Paolo Sodini and Boris Vallée
      This paper shows that securities with a non-linear payoff design can foster household risk-taking. We demonstrate this effect empirically by exploiting the introduction of capital guarantee products in Sweden from 2002 to 2007. The fast and broad adoption of these... View Details
      Keywords: Financial Innovation; Household Finance; Structured Products; Stock Market Participation; Finance; Innovation and Invention; Household; Personal Finance; Risk and Uncertainty; Behavior; Market Participation
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      Calvet, Laurent, Claire Célérier, Paolo Sodini, and Boris Vallée. "Can Security Design Foster Household Risk-Taking?" Journal of Finance 78, no. 4 (August 2023): 1917–1966.
      • July 2023
      • Case

      Crocs: Using Community-Centric Marketing to Make Ugly Iconic

      By: Ayelet Israeli and Anne V. Wilson
      In 2022, the Crocs Classic Clog was the best-selling item of clothing on Amazon, the brand was one of the fastest growing brands in the U.S., and global net revenue had increased to approximately $3.6 billion. By most accounts, Crocs had become the “it” shoe. Crocs... View Details
      Keywords: Brands and Branding; Product Development; Growth and Development; Customer Value and Value Chain; Digital Marketing; Digital Strategy; Segmentation; Advertising; Consumer Products Industry; Apparel and Accessories Industry; United States
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      Israeli, Ayelet, and Anne V. Wilson. "Crocs: Using Community-Centric Marketing to Make Ugly Iconic." Harvard Business School Case 524-006, July 2023.
      • July 2023
      • Case

      HealthVerity: Real World Data and Evidence

      By: Satish Tadikonda
      Andrew Kress (CEO and founder) and his team had built a promising marketplace business at HealthVerity serving its core market in healthcare, with a focus on pharmaceutical R&D and services. Thus far, HealthVerity’s products had been unique to the pharma and pharma... View Details
      Keywords: Growth and Development Strategy; Market Entry and Exit; Product Marketing
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      Tadikonda, Satish. "HealthVerity: Real World Data and Evidence." Harvard Business School Case 824-019, July 2023.
      • July 2023 (Revised July 2023)
      • Background Note

      Generative AI Value Chain

      By: Andy Wu and Matt Higgins
      Generative AI refers to a type of artificial intelligence (AI) that can create new content (e.g., text, image, or audio) in response to a prompt from a user. ChatGPT, Bard, and Claude are examples of text generating AIs, and DALL-E, Midjourney, and Stable Diffusion are... View Details
      Keywords: AI; Artificial Intelligence; Model; Hardware; Data Centers; AI and Machine Learning; Applications and Software; Analytics and Data Science; Value
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      Wu, Andy, and Matt Higgins. "Generative AI Value Chain." Harvard Business School Background Note 724-355, July 2023. (Revised July 2023.)
      • July–August 2023
      • Article

      Accounting for Carbon Offsets

      By: Robert S. Kaplan, Karthik Ramanna and Marc Roston
      Markets for carbon trading function poorly, and many traded offsets do not actually perform as promised. Without robust protocols for monitoring offsets and in the absence of proper accounting mechanisms, market-based approaches to reducing atmospheric GHG will be... View Details
      Keywords: Climate Change; Environmental Accounting; Environmental Regulation
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      Kaplan, Robert S., Karthik Ramanna, and Marc Roston. "Accounting for Carbon Offsets." Harvard Business Review 101, no. 4 (July–August 2023): 126–137.
      • July 2023
      • Article

      Design and Analysis of Switchback Experiments

      By: Iavor I Bojinov, David Simchi-Levi and Jinglong Zhao
      In switchback experiments, a firm sequentially exposes an experimental unit to a random treatment, measures its response, and repeats the procedure for several periods to determine which treatment leads to the best outcome. Although practitioners have widely adopted... View Details
      Keywords: Switchback Experiments; Design; Analysis; Mathematical Methods
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      Bojinov, Iavor I., David Simchi-Levi, and Jinglong Zhao. "Design and Analysis of Switchback Experiments." Management Science 69, no. 7 (July 2023): 3759–3777.
      • 2023
      • Chapter

      Private Equity Financing

      By: Victoria Ivashina
      The goal of this chapter is to understand the common practices of PE funds’ structure and funding. The chapter covers three topics. First, it gives an overview of the traditional private equity (PE) financing structure; then, it discusses other investment vehicles like... View Details
      Keywords: Trends; Private Equity; Investment Funds
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      Ivashina, Victoria. "Private Equity Financing." Chap. 4 in Private Equity and Entrepreneurial Finance. 1, edited by B. Espen Eckbo, Gordon M. Phillips, and Morten Sorensen, 139–160. Handbook of the Economics of Corporate Finance. Elsevier BV, 2023.
      • 2023
      • Working Paper

      The Complexity of Economic Decisions

      By: Xavier Gabaix and Thomas Graeber
      We propose a theory of the complexity of economic decisions. Leveraging a macroeconomic framework of production functions, we conceptualize the mind as a cognitive economy, where a task’s complexity is determined by its composition of cognitive operations. Complexity... View Details
      Keywords: Decisions; Complexity; Perception; Consumer Behavior; Production
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      Gabaix, Xavier, and Thomas Graeber. "The Complexity of Economic Decisions." Harvard Business School Working Paper, No. 24-049, February 2024.
      • June 2023
      • Supplement

      Clash of Two Giants Simulation Exercise

      By: Feng Zhu and Marco Iansiti
      Many markets are organized around platforms that connect consumers with complementary applications and services. These platforms are two-sided because both sides - consumers and those providing applications or services - need access to the same platform to interact. A... View Details
      Keywords: Customer Acquisition; Platform Strategy; Technology Platform; Digital Platforms; Competitive Strategy; Network Effects
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      Zhu, Feng, and Marco Iansiti. "Clash of Two Giants Simulation Exercise." Harvard Business School PowerPoint Supplement 623-717, June 2023.
      • June 2023
      • Exercise

      Clash of Two Giants Simulation Exercise Instructions

      By: Feng Zhu and Marco Iansiti
      Many markets are organized around platforms that connect consumers with complimentary applications and services. These platforms are two-sided because both sides - consumers and those providing applications or services - need access to the same platform to interact. A... View Details
      Keywords: Platform Strategies; Technology Platform; Customer Acquisition; Network Effects; Digital Platforms; Marketplace Matching; Strategy
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      Zhu, Feng, and Marco Iansiti. "Clash of Two Giants Simulation Exercise Instructions." Harvard Business School Exercise 623-092, June 2023.
      • June 2023 (Revised October 2024)
      • Teaching Note

      Clash of Two Giants Simulation Exercise Teaching Note

      By: Feng Zhu
      Teaching Note for HBS Case No. 623-092. Many markets are organized around platforms that connect consumers with complimentary applications and services. These platforms are two-sided because both sides—consumers and those providing applications or services—need access... View Details
      Keywords: Platform Strategy; Customer Acquisition; Technology Platform; Competitive Strategy; Network Effects; Digital Platforms; Management Skills
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      Zhu, Feng. "Clash of Two Giants Simulation Exercise Teaching Note." Harvard Business School Teaching Note 623-093, June 2023. (Revised October 2024.)
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