Publications
Publications
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- All HBS Web
(3,904)
- Faculty Publications (1,177)
- January 2025 (Revised March 2025)
- Case
Gavi and the 'Next' Pandemic
By: Tarun Khanna and Kerry Herman
In 2025, CEO Dr. Sania Nishtar and her team consider the lessons the Global Alliance for Vaccine and Immunizations (GAVI) learned from the pandemic. GAVI successfully brought COVID-19 vaccines to large swaths of the undeveloped and under-developed world by pooling... View Details
- January 2025
- Case
Untapped Global: Financing Africa's Missing Middle
By: Raymond Kluender and Emanuele Colonnelli
In November 2024, Jim Chu, founder and CEO of Untapped Global, faced mounting internal tensions over the company’s strategic direction. Untapped had developed a data-driven revenue-based financing (RBF) model to address the “missing middle” problem—the $5.2 trillion... View Details
Keywords: Social Entrepreneurship; Venture Capital; Working Capital; Private Equity; Financial Strategy; Microfinance; International Finance; Currency Exchange Rate; Profit Sharing; Revenue; Developing Countries and Economies; Economic Growth; Emerging Markets; Mission and Purpose; Small Business; Entrepreneurial Finance; Banking Industry; Financial Services Industry; Information Technology Industry; Technology Industry; Africa; Nigeria; South Africa; Kenya; Uganda; California; San Francisco
- January 2025 (Revised February 2025)
- Background Note
A High-Tech Revolution with Chinese Characteristics: China's Drive Towards EV Supremacy
By: William C. Kirby, Daniel Fu and Matthew Ngai
This background note explains and documents the rise of China's EV industry. Moreover, it identifies the challenges facing it and posits several questions about the decisions needed to be made to sustain the industry's global dominance. Would Chinese producers be able... View Details
- January 2025
- Case
PayJoy: Financing for the Next Billion
By: Boris Groysberg and Sarah L. Abbott
PayJoy, an impact-driven financial technology company founded in 2015, provides smartphone financing and other financial products to customers who lack access to traditional credit products. As of early 2025, PayJoy had issued $2.5 billion in loans to 13 million... View Details
Keywords: Social Impact; Fintech; Underbanked; Algorithm; Data Analysis; Technology; Business Startups; Business Model; Growth and Development; Information Technology; Social Enterprise; Developing Countries and Economies; Credit; Mission and Purpose; Entrepreneurship; Financing and Loans; Financial Services Industry; Technology Industry; South America; South Africa; Asia; Latin America; Africa; Southeast Asia
- January 2025
- Case
COMAC - Chinese Aviation Soars to New Heights
By: William C. Kirby and Daniel Fu
COMAC's C919 manifested the first challenge to the Boeing-Airbus duopoly since it came to dominate aircraft manufacturing in the 1990s. Beijing sought to export the C919 abroad in its quest to become a "transportation superpower." Was it a wise decision for COMAC to... View Details
- January 2025
- Case
Driving Efficiency and Sustainability at P&G China
By: Feng Zhu, Philip Kuai and Billy Chan
P&G China’s business had reached new heights thanks to the explosive growth of e-commerce in the country, but the rapidly increasing volume of shipments to customers had created operational and environmental challenges in terms of packaging waste, shipping damage, and... View Details
- December 2024
- Case
Tencent Games
By: Rebecca Karp, Billy Chan and Nancy Hua Dai
For years, Tencent Games, a division of China’s largest internet company, had taken the lion’s share of revenue in the global gaming market with blockbuster titles such as “League of Legends” and “PUBG: Battlegrounds.” These games defined the game genres that they... View Details
Keywords: Decisions; Games, Gaming, and Gambling; Collaborative Innovation and Invention; Innovation and Management; Innovation Strategy; Growth and Development Strategy; Product Development; Organizational Culture; Business Strategy; Investment; Competitive Strategy; Video Game Industry; Europe; China
- December 2024
- Case
Yum China: People First
By: David E. Bell, Shu Lin and Nancy Dai
Joey Wat, CEO of Yum China Holdings, Inc., which operated KFC, Pizza Hut, and Taco Bell in mainland China, oversaw KFC’s milestone as the first Western quick-service chain in China to surpass 10,000 stores, with Pizza Hut exceeding 3,000 locations. This expansion was... View Details
- November 2024
- Background Note
Social Enterprise in the MENA Region
By: Brian Trelstad and Ahmed Dahawy
This research note provides an overview of the socio-economic landscape of social enterprise in the Middle East and North Africa. It highlights the diversity of players in the region including social enterprise organizations (in their many forms) and supporting... View Details
Keywords: MENA; Non-Governmental Organizations; Nonprofit Organizations; Civil Society or Community; Social Issues; Diasporas; Social Entrepreneurship; Cultural Entrepreneurship; Environmental Sustainability; Geographic Scope; Health Care and Treatment; Philanthropy and Charitable Giving; Business and Community Relations; Business and Government Relations; Social and Collaborative Networks; Demographics; Health Industry; Service Industry; Tourism Industry; Egypt; Morocco; North Africa; Tunisia; Jordan; Lebanon; Saudi Arabia; United Arab Emirates; Dubai; Middle East
- November 2024
- Case
AlphaGo (A): Birth of a New Intelligence
By: Shikhar Ghosh and Shweta Bagai
This case, the first of a three-part series, traces DeepMind's evolution from its 2010 founding through its acquisition by Google in 2014. Often referred to as the "Apollo project" of artificial intelligence, DeepMind used games as a testing ground to develop AI... View Details
- November 2024
- Supplement
AlphaGo (B): Birth of a New Intelligence
By: Shikhar Ghosh and Shweta Bagai
This case, the second in a three-part series, explores DeepMind's evolution from developing game-specific AI to more generalized learning systems. Following AlphaGo's 2017 victory over the Go world champion, DeepMind introduced two revolutionary systems that eliminated... View Details
- November 2024 (Revised April 2025)
- Case
Cheerful Music
By: Shunyuan Zhang, Feng Zhu and Nancy Hua Dai
Established by Snow Jiang in 2019 in Shenzhen, China, Cheerful Music was a record label company that had created many hit songs in China. “Yi Xiao Jiang Hu,” its most famous hit song, gained billions of views on social media platforms in China and overseas as the... View Details
- November 2024
- Case
Innovation at Master Kong Beverages
By: David E. Bell and Shu Lin
Hong-Chen Wei (HBS MBA 2014), Chairman of KSF Beverage Holding Co., Ltd. (KSFB), was steering the company toward the premium segment with the launch of “InheriTea,” a premium, sugar-free tea product. Traditionally, KSFB’s flagship brand, Master Kong, catered to the... View Details
- October 2024 (Revised December 2024)
- Case
Kering Eyewear
By: Rohit Deshpandé, Dante Roscini and Elena Corsi
In June 2024, Roberto Vedovotto, CEO of Kering Eyewear, prepared to discuss the future of the recently acquired brands LINDBERG, a Danish optical eyewear brand, and Maui Jim, an American sunglasses brand. Vedovotto founded Kering Eyewear in 2014, convincing... View Details
- October 2024 (Revised June 2025)
- Case
Nvidia
By: Andy Wu and Matt Higgins
This case study examines Nvidia's strategic pivot from gaming GPUs to becoming a leader in general-purpose computing and AI. It explores how Nvidia leveraged its GPU architecture to dominate the growing fields of data center acceleration and AI training, outpacing... View Details
- October 2024
- Background Note
The Semiconductor Industry
By: Andy Wu, Steve Blank and Matt Higgins
The semiconductor industry powers modern technology, from consumer electronics to data centers. This background note explores the layers of the semiconductor inudstry value chain, including Integrated Device Manufacturers (IDMs), fabless companies, and foundries, while... View Details
- 2024
- Chapter
What Future for the Renminbi in the Global Monetary System?
By: Edoardo Campanella and Meg Rithmire
What is a realistic and positive outcome for US-China relations in the realm of global finance over the next ten years? While some policymakers, especially in the US, have feared that China holds ambitions for the renminbi (RMB) to replace the dollar as a global... View Details
- 2024
- Working Paper
Case Studies of the Emulation of Chinese Entrepreneurial Business Models
By: Josh Lerner, Junxi Liu, Jacob Moscona and David Yang
This working paper presents four short case studies of emerging market businesses whose founders emulated Chinese firms. These examples are part of a more systematic pattern, documented extensively in Lerner et al. (2024), in which businesses developed in China were... View Details
- October 2024
- Teaching Note
Taiwan After Globalization: Twilight of the Developmental State?
By: Debora L. Spar and Julia M. Comeau
Teaching Note for HBS Case No. 324-032. In the last 70 years, the small island of Taiwan has achieved what many believe to be a “miracle”: its economy has grown at a record-setting pace, driven and guided by one of the world's most successful set of industrial... View Details
- September 2024 (Revised December 2024)
- Case
Discovery Bank
By: Felix Oberholzer-Gee, Pippa Tubman Armerding and Namrata Arora
In May 2023, Hylton Kallner, CEO of Discovery Bank, prepared to present two pivotal proposals to the board of Discovery Limited, the bank’s parent company. His first proposal aimed to integrate Discovery’s suite of apps, positioning the banking app as the central... View Details