Publications

April 2009 (Revised October 2010)
Case

Bob Beall at the Cystic Fibrosis Foundation

By: Robert Steven Kaplan and Sophie Hood

Bob Beall is the Chief Executive Officer of the Cystic Fibrosis Foundation (CFF). CFF is an extremely successful organization, but Beall has to determine how to manage the organization through the financial crisis of 2008-2009. In this situation, donations are likely... View Details

Keywords: Decision Choices and Conditions; Financial Crisis; Philanthropy and Charitable Giving; Governing and Advisory Boards; Leadership; Crisis Management; Nonprofit Organizations

08 Mar 2021
In Practice

COVID Killed the Traditional Workplace. What Should Companies Do Now?

A year ago, COVID-19 forced many companies to send employees home—often with a laptop and a prayer. Now, with COVID cases subsiding and vaccinations rising, the prospect of returning to old office routines appears more possible. But will employees want to flock back to... View Details

Keywords: by Dina Gerdeman

April 2017 (Revised August 2020)
Case

The U-Turns of National Truck Stops

By: Nori Gerardo Lietz and Alexander W. Schultz

Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (NTS) as a senior member of Oaktree Capital Management’s (Oaktree) Mezzanine finance business within their Corporate Debt platform. It was the first time they... View Details

Keywords: Mezzanine Financing; Corporate Debt; Bankruptcy; Real Assets; Financing and Loans; Borrowing and Debt; Insolvency and Bankruptcy; Restructuring; Private Equity; Cost vs Benefits; Atlanta; New York (city, NY)

13 Aug 2012
Research & Ideas

When Good Incentives Lead to Bad Decisions

Among the culprits contributing to the recent financial crisis were bank loan officers who approved mortgage loans that were doomed to fail. Many of these frontline workers were motivated by bonuses and other incentives to approve... View Details

Keywords: by Carmen Nobel; Banking

June 2007 (Revised March 2008)
Case

Zoots - Financing Growth (A)

By: Michael J. Roberts, William A. Sahlman and Todd Krasnow

Traces the genesis and founding of Zoots, the largest chain of dry cleaning establishments in the U.S. Founded by some of the founders of the very successful Staples chain, the company raises a very large amount of capital without fully proving its business model, and... View Details

Keywords: Business Startups; Decision Choices and Conditions; Venture Capital; Financial Strategy; Investment Return; Growth and Development Strategy; Valuation; United States

12 Oct 2010
Working Paper Summaries

Crashes and Collateralized Lending

Keywords: by Jakub W. Jurek & Erik Stafford; Financial Services; Financial Services

20 Aug 2007
Research & Ideas

HBS Cases: Using Investor Relations Proactively

How should a company deliver financial news—both good and bad—to a broad spectrum of stakeholders, including investors, customers, government, and environmentalists? Energy giants Total and BP have learned best practices through trial and... View Details

Keywords: by Martha Lagace; Energy; Utilities

09 Jul 2020
Research & Ideas

It’s Time to Reset Decision-Making in Your Organization

competitors. He also contends that downturns can provide a little flexibility because the pressure to deliver short-term financial results is lessened. When all companies are reporting poor results, acting to make your company look a... View Details

Keywords: by Boris Groysberg and Sarah Abbott

February 1991
Case

Burlington Northern: The ARES Decision (B)

By: Julie H. Hertenstein and Robert S. Kaplan

The ARES team formally proposes that Burlington Northern implement the ARES system. The project meets resistance. In light of financial restructuring and high level of debt, executives wonder whether the company can afford ARES. Weak links during the ARES development... View Details

Keywords: Accounting Audits; Restructuring; Cost vs Benefits; Decision Choices and Conditions; Borrowing and Debt; Capital Budgeting; Projects; Technology Adoption; Service Industry

01 Oct 2001
Research & Ideas

How To Make Restructuring Work for Your Company

this book undertook major restructurings without being in a financial crisis. Compared to the rest of the U.S. airline industry, United Air Lines was in relatively strong financial View Details

Keywords: by Stuart C. Gilson

October 2021 (Revised December 2021)
Case

PhonePe: Democratizing Payments in India

By: Michael Chu and Rachna Tahilyani

The co-founders of PhonePe, India’s leading digital payment platform are considering pursuing various growth opportunities in a huge country just entering the digital age. In a highly competitive industry, the founders are keenly aware that making the right choices is... View Details

Keywords: Digital Platform; Digital Banking; Business Strategy; Growth and Development Strategy; Decision Choices and Conditions; Corporate Entrepreneurship; Digital Platforms; Financial Services Industry; Asia; India

13 May 2008
First Look

First Look: May 13, 2008

Working PapersSome Neglected Axioms in Fair Division Author:John W. Pratt Abstract Conditions one might impose on fair allocation procedures are introduced. Nondiscrimination requires that agents share an item in proportion to their... View Details

Keywords: Martha Lagace

05 Jul 2012
What Do You Think?

Why Is Trust So Hard to Achieve in Management?

Article Revered management thought-leaders such as Chris Argyris and the late W. Edwards Deming argued years ago that trust is an essential condition for good performance. Trust is an issue on the minds of many people these days. A good... View Details

Keywords: by James Heskett

Web

Profiles - MBA

Consumer Tech, Social Impact Tech Formative experience at the intersection of technology and business: A few years ago, I found out that my father was at risk for diabetic retinopathy—a condition that can cause vision loss in diabetics.... View Details

05 Jun 2012
First Look

First Look: June 5

professional and political characteristics of FASB members and SEC commissioners predict the accounting "reliability" and "relevance" of proposed standards. Notably, we find FASB members with backgrounds in financial... View Details

Keywords: Sean Silverthorne

Web

Systems Integration - Institute For Strategy And Competitiveness

HBS ISC Health Care Health Care Value-Based Health Care Health Care Courses Fast Facts Value-Based Health Care Value-Based Health Care Cases & Teaching Notes Key Concepts Key Stakeholders Publications Team Work With Us Presentations Key Concepts Key Concepts Organize... View Details

March 2011 (Revised January 2015)
Case

H Partners and Six Flags

By: Robin Greenwood and Michael Gorzynski

Rehan Jaffer, the founder of hedge fund H Partners, is considering what to do with his investment in Six Flags. H Partners had invested a significant amount of the firm's capital in the senior bonds of U.S.-based Six Flags, following that company's bankruptcy filing. View Details

Keywords: Behavioral Finance; Private Equity; Insolvency and Bankruptcy; Debt Securities; Bonds; Investment; Financial Services Industry; Financial Services Industry; United States

20 Dec 2022
Op-Ed

Employee Feedback: The Key to Retention During the Great Resignation

Kroger, Amazon, and many others have experienced similar conflicts. A recent study finds that “toxic culture”—unethical leadership behavior and disregard for employees’ health, diversity, financial security, and self-respect—is a far more... View Details

Keywords: by Michael Beer

September 2017 (Revised February 2019)
Case

Blackstone's GSO Capital: Crosstex Investment

By: Victoria Ivashina, John D. Dionne and Jeffrey Boyar

This case focuses on the Blackstone credit arm, GSO Capital as it evaluated a proposal for an equity investment into the distressed company, Crosstex Energy L.P., an integrated midstream energy company, that was hit hard by declining natural gas prices during the 2008... View Details

Keywords: Distress Investing; Rescue Financing; Investment; Borrowing and Debt; Financial Condition