Publications

25 Feb 2020
News

How Artificial Intelligence is Changing Business

are restructuring the economy and changing the nature of competitive advantage.” “The computer scientists and engineers developing AI don’t necessarily speak the language of business,” Lakhani adds. “HBS is training leaders to be fluent... View Details

Keywords: Susan Young

February 1996
Case

USX Corporation

By: Stuart C. Gilson and Jeremy Cott

A large diversified steel and energy firm is pressured by a corporate raider to spin off its steel business in order to increase its stock price. As an alternative to the spinoff, management proposes replacing the company's common stock with two new classes of... View Details

Keywords: Restructuring; Stocks; Valuation; Financial Institutions; Cash Flow

January 1994
Case

National Convenience Stores, Inc.

By: Steven R. Fenster, Stuart C. Gilson and Roy Burstin

National Convenience Stores seeks to emerge from Chapter 11. Central to the nature of the reorganization plan is the company's determining enterprise value. The various constituencies (secured debt, unsecured debt, etc.) will seek to find an enterprise value that... View Details

Keywords: Capital Structure; Valuation; Restructuring; Strategic Planning; Borrowing and Debt; Food and Beverage Industry; Texas

May 2018
Teaching Note

Mubadala and EBX: To X or to X It?

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

On April 3, 2013, Hani Barhoush and Oscar Fahlgren of Mubadala Capital (“Mubadala”) considered how to salvage Mubadala’s $2 billion preferred equity investment of a 5.63% stake in the EBX Group. At the time, EBX was the holding company of a myriad of subsidiaries and... View Details

Keywords: Bankruptcy; Cross Border; Negotiations; UAE; Oil And Gas; Finance; Strategy; Negotiation; Insolvency and Bankruptcy; Private Equity; Restructuring; Energy Industry; Real Estate Industry; Shipping Industry; Financial Services Industry; Banking Industry; Brazil; Middle East

01 Sep 2012
News

A Silent Workplace Crisis

thirties, restructuring the marketing organization for a large regional bank, and my husband, Ray Benvenuti (MBA 1986), and I had two children under seven. At that time, I had no inkling of what would be required to juggle the needs of... View Details

Keywords: Janet Simpson Benvenuti; caregiving; aging; Nursing and Residential Care Facilities; Health, Social Assistance

01 Sep 2009
News

From Bytes to Bites

2001 she came on board full-time to help run Hearon’s company, Nice Ventures. “It was going to be a short-term change,” she recalls. “I thought I’d bring in some new financing, we’d restructure, and I’d go back to working in Silicon Valley.” By September 2003, the... View Details

Keywords: Julia Hanna; Food Services and Drinking Places; Hospitality; Management of Companies and Enterprises; Management

October 2005
Case

Intel Corporation 2005

By: David B. Yoffie and Michael Slind

Buoyed by strong recent sales growth but humbled by failed strategic bets and other missteps, Intel in 2005 initiated a major reorganization. Under its new CEO, Paul Otellini, the company shifted toward a "platform" model, inspired by the success of its Centrino... View Details

Keywords: Restructuring; Alignment; Business Strategy; Competitive Strategy; Corporate Strategy; Semiconductor Industry

29 Mar 2011
First Look

First Look: March 29

disastrous. Purchase this case:http://cb.hbsp.harvard.edu/cb/product/811042-PDF-ENG Global Diversity and Inclusion at Royal Dutch Shell (B): The Impact of Restructuring Sandra J. Sucher and Daniela BeyersdorferHarvard Business School... View Details

Keywords: Sean Silverthorne

September 1996 (Revised December 1997)
Case

Cytec Industries' Spin-Off (A): Sink or Swim?

In the wake of market pressure to restructure, American Cyanamid spun off its poorly performing Chemicals Unit into a new publicly traded corporation, Cytec Industries. In addition to weak operations, Cytec inherited the bulk of Cyanamid's environmental and... View Details

Keywords: Organizational Change and Adaptation; Management Practices and Processes; Restructuring; Performance Improvement; Chemical Industry; United States

09 Nov 2010
First Look

First Look: November 9, 2010

restructuring in pillar industries and its effect on industry structures. In the petrochemical industry, the shift toward greater horizontal consolidation and vertical integration reduces the collective action problems associated with... View Details

Keywords: Sean Silverthorne

01 Sep 2017
News

Ink: Miami’s Dark Neon Era, the Language of Success, and Getting Psyched Up

omniscience. And you’re reading it thinking, ‘Wow, I’m in the minds of the mobsters.’ ” Personal Pick Chainsaw The Notorious Career of Al Dunlap in the Era of Profit-at-Any-Price by John A. Byrne “It’s about the rise and fall of this corporate View Details

Keywords: April White; Publishing Industries (except Internet); Information

08 Jan 2016
Research & Ideas

Is it Worth a Pay Cut to Work for a Great Manager (Like Bill Belichick)?

consider Corey Dillon. When the Cincinnati Bengals’ all-time leading rusher was traded to the Patriots in 2003, he had been scheduled to earn $3.3 million in 2004 and $3.85 million in 2005. Dillon voluntarily restructured his... View Details

Keywords: by Boris Groysberg & Abhijit Naik; Sports

November 2012 (Revised August 2014)
Case

Cisco in 2012: Reorganizing for Efficiency and Flexibility

By: Ranjay Gulati, Alison Berkley Wagonfeld and Luciana Silvestri

In 2012, Cisco was under intense pressure to show results: growth in its core business was decelerating and a number of exploratory ventures and acquisitions had not proven as profitable as expected. CEO John Chambers vowed to restore the company's health in a way that... View Details

Keywords: Organizational Change and Adaptation; Restructuring; Adaptation; Performance Efficiency; Emerging Markets; Information Technology Industry

October 2012 (Revised February 2013)
Case

Innova Capital: The Transition

By: Josh Lerner and Ann Leamon

The partners at Innova Capital, a leading mid-market private equity investor in Poland, must negotiate a transition of power between the two ex-patriate founders and three talented young Polish partners. If they fail to find an accomodation, the entire firm will... View Details

Keywords: Firm Structure; Career Management; Emerging Market; Succession; Entrepreneurship; Private Equity; Venture Capital; Negotiation; Investment; Restructuring; Transition

17 Jan 2007
Op-Ed

Learning from Private-Equity Boards

quarterly earnings reports, reflecting the complexity of corporate restructurings and other long-term growth strategies. Lessons To Be Learned There are important implications of these differences for public company boards, even though... View Details

Keywords: by Malcolm Salter; Financial Services

March 2018
Teaching Note

Project Titan at Northrop Grumman

By: C. Fritz Foley, Lauren G. Pickle, David Lane and F. Katelynn Boland

Teaching Note for HBS No. 215-001. In March of 2011, Northrop Grumman divested shipbuilding assets through the spin-off of Huntington Ingalls Industries. This case reviews many of the key questions faced by Northrop's CEO, CFO, and top management team during this... View Details

Keywords: Corporate Reorganization; Spin Off; Asset Sales; Managing Portfolios Of Businesses; Managing Change; Diversification; Change Management; Restructuring; Corporate Strategy; Financial Strategy; Manufacturing Industry

September 1999
Background Note

Revolution in the Communications Switching Industry

By: Jay O. Light, Lynda M. Applegate and Daniel J. Green

As data packet switches threatened the voice circuit switch industry in 1999, major switch and router vendors began paying high premiums to acquire venture-backed switch companies. This note explains what a switch is and suggests why large vendors might be so anxious... View Details

Keywords: Acquisition; Restructuring; Capital; Information Technology; Technology Adoption; Communications Industry; Electronics Industry