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      Scaling And GrowthRemove Scaling And Growth →

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      • 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
      • 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.
      • December 2023 (Revised January 2025)
      • Case

      Research In Motion: Launching and Scaling the World's First Smartphone Empire (A)

      By: Tatiana Sandino and Samuel Grad
      In 2005, Research In Motion’s (RIM) BlackBerry smartphone was a sensation. After its launch in 1999, the groundbreaking BlackBerry had captured the hearts and minds of corporate America through its secure wireless email service. The device was so addictive and... View Details
      Keywords: Business Growth and Maturation; Decision Choices and Conditions; Mobile and Wireless Technology; Innovation and Management; Technological Innovation; Business or Company Management; Management Style; Product Development; Managerial Roles; Growth and Development Strategy; Technology Industry; United States; Canada
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      Sandino, Tatiana, and Samuel Grad. "Research In Motion: Launching and Scaling the World's First Smartphone Empire (A)." Harvard Business School Case 124-023, December 2023. (Revised January 2025.)
      • December 4, 2023
      • Article

      Stop Assuming Introverts Aren't Passionate About Work

      By: Kai Krautter, Anabel Büchner and Jon M. Jachimowicz
      Society often assumes that the only way to be passionate is to act extroverted, but that is simply not true. In their new research, the authors found that regardless of their actual level of passion, extroverted employees are perceived as more passionate than... View Details
      Keywords: Passion; Personality; Extraversion; Scale Development; Personal Characteristics; Perception; Employees; Prejudice and Bias
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      Krautter, Kai, Anabel Büchner, and Jon M. Jachimowicz. "Stop Assuming Introverts Aren't Passionate About Work." Harvard Business Review Digital Articles (December 4, 2023).
      • December 2023
      • Article

      Recover, Explore, Practice: The Transformative Potential of Sabbaticals

      By: Kira Schabram, Matt Bloom and DJ DiDonna
      Sabbaticals have seen an exponential growth in adoption over the last two decades and are ascribed extensive benefits by employers and employees alike. Little is known, however, about how individuals spend their time or how their experiences impact them after they... View Details
      Keywords: Sabbatical; Personal Development and Career; Employees
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      Schabram, Kira, Matt Bloom, and DJ DiDonna. "Recover, Explore, Practice: The Transformative Potential of Sabbaticals." Academy of Management Discoveries 9, no. 4 (December 2023): 441–468.
      • November 2023
      • Case

      Gabon Special Economic Zone

      By: John Macomber and Wale Lawal
      Tropical rain forest covers about 80% of the West African nation of Gabon, part of the Congo Basin and the "lungs of the world." Gabon is one of the first nations to earn revenue from carbon sequestration...as long as the rain forest remains intact. There are... View Details
      Keywords: Economic Development; Forestry; Wood; Carbon Credits; Supply Chain; Economic Growth; Developing Countries and Economies; Climate Change; Environmental Sustainability; Government Administration; Business and Government Relations; Strategy; Forest Products Industry; Africa; Gabon
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      Macomber, John, and Wale Lawal. "Gabon Special Economic Zone." Harvard Business School Case 224-012, November 2023.
      • November 2023 (Revised July 2024)
      • Case

      'Care in Every Drop': Ayala Corporation and Manila Water (A)

      By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia M. Comeau
      Since 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of... View Details
      Keywords: Family Business; Economic Growth; Social Entrepreneurship; Climate Change; Natural Resources; Crisis Management; Failure; Privatization; Social Issues; Urban Development; Adaptation; Public Opinion; Mission and Purpose; Utilities Industry; Asia; Philippines
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      Spar, Debora L., Paul Healy, Tricia Peralta, and Julia M. Comeau. "'Care in Every Drop': Ayala Corporation and Manila Water (A)." Harvard Business School Case 324-038, November 2023. (Revised July 2024.)
      • November 2023
      • Supplement

      'Care in Every Drop': Ayala Corporation and Manila Water (B)

      By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia Comeau
      Since 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of... View Details
      Keywords: Family Business; Economic Growth; Social Entrepreneurship; Climate Change; Natural Resources; Crisis Management; Failure; Privatization; Social Issues; Urban Development; Adaptation; Infrastructure; Utilities Industry; Philippines
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      Spar, Debora L., Paul Healy, Tricia Peralta, and Julia Comeau. "'Care in Every Drop': Ayala Corporation and Manila Water (B)." Harvard Business School Supplement 324-039, November 2023.
      • November 2023
      • Case

      Riiid: Scaling AI Educational Services Globally

      By: John Jong-Hyun Kim, Nancy Dai and Ruru Hoong
      This article explores the definition and evolution of AI, its applications in education, and the role of AI, particularly in K-12 education. It discusses the founding of Riiid, an AI-driven educational technology company, and its journey in the education sector, with a... View Details
      Keywords: AI and Machine Learning; Economic Sectors; Technological Innovation; Education Industry; South Korea; Asia
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      Kim, John Jong-Hyun, Nancy Dai, and Ruru Hoong. "Riiid: Scaling AI Educational Services Globally." Harvard Business School Case 324-030, November 2023.
      • 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 June 2025)
      • Case

      Aviva plc: Examining Net Zero

      By: Peter Tufano, Brian Trelstad and Matteo Gasparini
      The board of Aviva Plc, one of the world’s largest insurers, must review its climate risk exposures and evaluate next steps. Risk experts at the firm have conducted a robust set of analyses prepared for its regulator, the Bank of England, simulating how various climate... View Details
      Keywords: Analysis; Climate Change; Insurance; Governing and Advisory Boards; Risk Management; Adaptation; Financial Services Industry; Insurance Industry; Europe; United Kingdom
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      Tufano, Peter, Brian Trelstad, and Matteo Gasparini. "Aviva plc: Examining Net Zero." Harvard Business School Case 324-008, November 2023. (Revised June 2025.)
      • November 2023
      • Case

      Swanson Health: Becoming a Super Seller

      By: William R. Kerr, Daniel O'Connor and Paige Boehmcke
      Founded in 1969, Swanson Health sold vitamins, supplements, natural health products, and organic foods. Over the years, the company had successfully navigated multiple industry transitions as it expanded from a print catalog to sell products on its own... View Details
      Keywords: Sales; Transition; Growth Management; Distribution Channels; Organizational Change and Adaptation; Health Industry; Consumer Products Industry; United States
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      Kerr, William R., Daniel O'Connor, and Paige Boehmcke. "Swanson Health: Becoming a Super Seller." Harvard Business School Case 824-093, November 2023.
      • November 2023
      • Case

      UST's Adoption of Open Talent

      By: Christopher Stanton and Kristen Senz
      This case details the 2020 launch and subsequent scaling of UST’s Open Talent initiative, a program to integrate freelancers from digital platforms into its workforce. The case highlights how the shifting post-pandemic world, including layoffs, wage inflation, and... View Details
      Keywords: Talent and Talent Management; Employment; Working Conditions; Organizational Change and Adaptation
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      Stanton, Christopher, and Kristen Senz. "UST's Adoption of Open Talent." Harvard Business School Case 824-117, November 2023.
      • November 2023
      • Case

      Nourishing Communities: Brighter Bites Approach to Childhood Nutrition

      By: David E. Bell, Forest Reinhardt and Ai-Ling Jamila Malone
      In September 2023, Brighter Bites, a Houston-based non-profit that distributed fresh produce and nutrition education in underserved communities across 11 cities and 5 states, grappled with identifying the best path forward for continued growth. Brighter Bites proved... View Details
      Keywords: Nutrition; Growth and Development Strategy; Logistics; Nonprofit Organizations; Human Needs; Poverty; Houston
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      Bell, David E., Forest Reinhardt, and Ai-Ling Jamila Malone. "Nourishing Communities: Brighter Bites Approach to Childhood Nutrition." Harvard Business School Case 724-007, November 2023.
      • 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.
      • October 2023 (Revised April 2024)
      • Case

      Veeva Systems: The Next Frontier

      By: Satish Tadikonda and William Marks
      Born out of a desire to bring technological advances in enterprise software into the healthcare vertical, Peter Gassner and Matt Wallach founded Veeva to bring life sciences companies into the digital age for data management in both the commercial and R&D sectors. Over... View Details
      Keywords: Business Model; Governance Compliance; Applications and Software; Growth Management; Expansion; Technology Industry
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      Tadikonda, Satish, and William Marks. "Veeva Systems: The Next Frontier." Harvard Business School Case 824-074, October 2023. (Revised April 2024.)
      • October 2023
      • Case

      Hey Jane: Delivering Abortion Pills to the Doorstep

      By: Rembrand Koning, Geraldine Pena-Galea and Sarah Mehta
      This case tells the story of Hey Jane, a telehealth clinic founded in 2020 that provides virtual medication abortion services to eligible patients in nine U.S. states. By January 2023, the company had served more than 20,000 patients and raised nearly $10 million in... View Details
      Keywords: Operations; Business Startups; Health Care and Treatment; Growth and Development Strategy; Health Industry; Technology Industry; United States
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      Koning, Rembrand, Geraldine Pena-Galea, and Sarah Mehta. "Hey Jane: Delivering Abortion Pills to the Doorstep." Harvard Business School Case 724-408, October 2023.
      • October 2023 (Revised March 2024)
      • Case

      KOKO Networks: Bridging Energy Transition and Affordability with Carbon Financing

      By: George Serafeim, Siko Sikochi and Namrata Arora
      The problem was massive: two million hectares of African forests were lost annually to charcoal production for cooking, an area equivalent to 13 times Greater London, resulting in one billion tons of carbon emissions yearly. At the same time, an estimated 700,000... View Details
      Keywords: Clean Tech; Digital; Carbon Credits; Carbon Offsetting; Africa; Emerging Markets; Energy; Climate Change; Entrepreneurship; Energy Sources; Environmental Sustainability; Health; Market Design; Business Startups; Transition; Environmental Regulation; Policy; Energy Industry; Consumer Products Industry; Africa; Kenya; Rwanda
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      Serafeim, George, Siko Sikochi, and Namrata Arora. "KOKO Networks: Bridging Energy Transition and Affordability with Carbon Financing." Harvard Business School Case 124-022, October 2023. (Revised March 2024.)
      • October 2023
      • Teaching Note

      Metaverse Wars

      By: Andy Wu and Matt Higgins
      Teaching Note for HBS Case No. 723-431. Metaverse Wars recaps the development of the metaverse concept and the attendant hype, bringing the narrative up to the summer of 2023 when Meta’s big pivot looked more like a costly misstep than a stroke of strategic genius. In... View Details
      Keywords: Metaverse; Strategy; Social Media; Internet and the Web; Technology Adoption; Technological Innovation; Technology Industry
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      Wu, Andy, and Matt Higgins. "Metaverse Wars." Harvard Business School Teaching Note 724-400, October 2023.
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