Publications

October 2022 (Revised July 2025)
Case

Driving Decarbonization at BMW

By: Shirley Lu, George Serafeim and Michael W. Toffel

The case describes BMW’s electrification and decarbonization strategy, and how the company measured carbon emissions throughout the life cycle of its vehicles and used tools like carbon abatement cost curves to evaluate decarbonization opportunities. In mid-2022,... View Details

March 1994 (Revised September 1995)
Case

Enron Gas Services

By: Peter Tufano

The CEO of Enron Gas Services (EGS), a subsidiary of the largest U.S. integrated natural gas firm, considers the risks and opportunities of selling a variety of natural gas derivatives, both embedded in gas delivery contracts and as free-standing financial contracts.... View Details

Keywords: Risk Management; Energy Sources; Financial Services Industry; Financial Services Industry

September 2022
Case

ROI vs. ROI: The Grupo Baobá Family Office

By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger

Fernando Scodro, a third-generation member of his family, mulled over the next step in integrating an ESG strategy into his family office’s investment portfolio. While his family office, Grupo Baobá, had made excellent progress in incorporating his family’s values into... View Details

Keywords: Impact Investing; ESG; Green Building; Family; Partnership; Latin America; Brazil; Buildings and Facilities; Green Buildings; Family Business; Family and Family Relationships; Financial Management; Partners and Partnerships; Financial Services Industry; Brazil; Latin America

June 2007
Article

Which Levers Boost ROI?

By: Margeaux Cvar and John A. Quelch

The article refers to ROI, or return on investment, and focuses on a rational strategy for financial markets that uses outside industry comparisons. The first step is to identify parallel businesses that have similar characteristics such as growth, capital, and market... View Details

Keywords: Mathematical Methods; Financial Markets; Investment Return

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November 2003 (Revised November 2005)
Case

Arcor: Global Strategy and Local Turbulence

Argentine confectionery manufacturer, Arcor Group, seeks to implement an international strategy but in 2003, recovering from the Argentine financial crisis, thwarts globalization plans. Already Latin America's leading candy producer and an exporter to over 100... View Details

Keywords: Risk and Uncertainty; Decision Making; Global Strategy; Food and Beverage Industry; Argentina

Martin Sinozich is a Senior Lecturer in the Entrepreneurial Management Unit at Harvard Business School, where he teaches in both MBA and Executive Education programs. For first-year MBAs, Martin teaches in Field Global Immersion, a required course that... View Details

October 1981
Case

Tony Santino (A)

A recent MBA without a stable work history in the private sector feels that he is being forced to compromise his personal convictions and professional integrity through a violation of the Robinson-Patman Act. This person is in his mid-thirties, married, and carries... View Details

Keywords: Ethics; Personal Development and Career; Laws and Statutes

January 2009 (Revised November 2011)
Case

The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (A)

By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane

"Bear Stearns & Co. burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday, March 13 was insufficient to reverse the decline in Bear's... View Details

Keywords: Mergers and Acquisitions; Financial Crisis; Capital; Financial Liquidity; Financial Strategy; Corporate Governance; Crisis Management; Business and Stakeholder Relations; Competition; Valuation; Financial Services Industry

Samuel L. Hayes holds the Jacob H. Schiff Chair in Investment Banking Emeritus, at the Harvard Business School. He has taught at the School since 1970, prior to which he was a tenured member of the faculty of the Columbia University Graduate School of Business. He... View Details

January 22, 2015
Other Article

Are Capital Controls Effective? Firm-level Evidence from Brazil

By: Laura Alfaro, Anusha Chari and Fabio Kanczuk

Capital controls are back in fashion. This column discusses new firm-level evidence from Brazil showing that capital controls segment international financial markets, reduce external financing, and lower firm-level investment. They disproportionately affect small,... View Details

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Teaching Interest

Audit Committees in a New Era of Governance

By: Paul M. Healy

The last ten years has heightened demands on audit committees. Not only are they responsible for overseeing internal and external audits to ensure that investors receive accurate and transparent information, but they must ensure compliance with new accounting and... View Details

March 2023 (Revised March 2023)
Case

Roche: Innovation and Access to Healthcare

By: George Serafeim, Susanna Gallani and Benjamin Maletta

In May 2022, Roche Group, one of the largest healthcare companies in the world, hosted its first investor event focused exclusively on its efforts to impact access to healthcare. While Roche had recently set an ambitious goal to double the number of patients that had... View Details

14 Jan 2015
News

Harvard Business School Offers Online HBX CORe Program for Spring and Summer 2015

May 2017
Supplement

Betfair (B), (C), and (D) Case Slides

By: Ramon Casadesus-Masanell and John Heilbron

Contains slides related to the Betfair B, C, and D cases.
Abstracts:
B) Buoyed by success in the market for gambling contracts, Betfair attempts to enter the market for financial products using its exchange model.
C) Prompted by a takeover bid from... View Details

Keywords: Betfair; Exchange; Betting; Leisure Industry; Betting Markets; Market Design; Digital Platforms; Diversification; Business Model; Laws and Statutes; Financial Services Industry; Financial Services Industry; Europe

December 2019 (Revised June 2025)
Case

Mãe Terra and Unilever (A)

By: Lynn S. Paine, Ruth Costas and Priscilla Zogbi

The case concerns the sale of Mãe Terra, one of Brazil's leading brands for packaged organic foods, to the consumer goods giant Unilever in 2017. Working with Unilever management, Mãe Terra’s CEO Alexandre Borges must determine whether and how to keep Mãe Terra's B... View Details

Keywords: Brand Management; Sustainability; Mergers and Acquisitions; Mission and Purpose; Social Enterprise; Corporate Governance; Governing and Advisory Boards; Environmental Sustainability; Organizational Culture; Brands and Branding; Food and Beverage Industry; Agriculture and Agribusiness Industry; Brazil; Latin America

September 2008 (Revised June 2010)
Case

Hearts On Fire - Brand Development Manager

By: Frank V. Cespedes and Benson P. Shapiro

Hearts On Fire, a successful branded diamond producer, established the position of Brand Development Manager (BDM) to build the company's presence, sales, and relationships with its retail customers. After one year, the CEO, CFO and President must evaluate the impact... View Details

Keywords: Customer Focus and Relationships; Investment Return; Brands and Branding; Marketing Strategy; Business Processes; Salesforce Management; Business Strategy

2022
Article

Sea Level Rise and Pacific Small Island Developing States: Implications and Pathways

By: Srimayi Tenali

Sea level rise poses severe consequences for the economic stability, habitability, and existence of Pacific Small Island Developing States (SIDS). Recent legal developments have offered conflicting interpretations of the 1982 'UN Law of the Sea Convention', but under... View Details

Keywords: Natural Environment; Climate Change; Adaptation; Environmental Law; Oceania