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      • December 2023 (Revised February 2024)
      • Case

      Transforming Healthcare Delivery at Karolinska University Hospital

      By: Susanna Gallani, Mary Witkowski, Elena Corsi and Nikolina Jonsson
      The case study examines the journey toward value-based healthcare at Karolinska University Hospital. The hospital's ambitious shift to a patient-centered care delivery model, accompanied by the construction of a new facility, encountered challenges such as high costs,... View Details
      Keywords: Change Management; Transformation; Transition; Business Organization; Communication Strategy; Information Infrastructure; Service Delivery; Organizational Change and Adaptation; Organizational Structure; Health Industry; Sweden; Europe
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      Gallani, Susanna, Mary Witkowski, Elena Corsi, and Nikolina Jonsson. "Transforming Healthcare Delivery at Karolinska University Hospital." Harvard Business School Case 124-070, December 2023. (Revised February 2024.)
      • 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 (Revised December 2023)
      • Background Note

      Talent Incubator Rankings

      By: Boris Groysberg and Sarah L. Abbott
      In 2023, The Official Board surveyed 853 executives on the topic of talent incubators/academy companies. Executives were asked to list the top three academy companies within their function, industry, and country. They were also asked: what practices differentiate these... View Details
      Keywords: Talent Development And Retention; Hiring; Performance Management; Human Resource Management; Human Capital; Human Resources; Performance; Talent and Talent Management; Organizational Culture
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      Groysberg, Boris, and Sarah L. Abbott. "Talent Incubator Rankings." Harvard Business School Background Note 424-038, November 2023. (Revised December 2023.)
      • November 2023 (Revised January 2024)
      • Case

      Bridgit: Persevere or Pivot?

      By: Reza Satchu and Patrick Sanguineti
      In late 2012, Mallorie Brodie and Lauren Lake, two young women in their final year of college, founded Bridgit, a technology startup that developed solutions to simplify vital but laborious processes within the construction industry. In the Fall of 2013, after months... View Details
      Keywords: Entrepreneur; Founder; Co-founders; Women Executives; Pivot; Startup; Business Model; Business Startups; Entrepreneurship; Applications and Software; Product Launch; Research and Development; Competition; Construction Industry; Technology Industry; United States; Canada
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      Satchu, Reza, and Patrick Sanguineti. "Bridgit: Persevere or Pivot?" Harvard Business School Case 824-118, November 2023. (Revised January 2024.)
      • November 2023 (Revised January 2024)
      • Case

      Votorantim: Uniting Family and Business Across Generations

      By: Christina R. Wing, Carla Larangeira and Pedro Levindo
      Over a 105-year span, the Ermírio de Moraes family built Votorantim, one of Latin America’s largest industrial conglomerates, and among Brazil’s topmost businesses, also credited for helping “build” the country over decades. By early 2023, Votorantim included... View Details
      Keywords: Corporate Governance; Family Ownership; Business and Shareholder Relations; Family and Family Relationships; Agriculture and Agribusiness Industry; Chemical Industry; Mining Industry; Financial Services Industry; Latin America
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      Wing, Christina R., Carla Larangeira, and Pedro Levindo. "Votorantim: Uniting Family and Business Across Generations." Harvard Business School Case 624-050, November 2023. (Revised January 2024.)
      • October 2023
      • Case

      Prime Coalition: Estimating Climate Impact

      By: Natalia Rigol, Benjamin N. Roth, Brian Trelstad and Amram Migdal
      A case on CRANE, a tool to help investors and green technology companies estimate the future climate impact of new technologies and products, called emissions reduction potential (ERP). The case includes material on CRANE’s methodology for estimating future carbon... View Details
      Keywords: Carbon Emissions; Environmental Accounting; Analysis; Climate Change; Green Technology; Innovation and Invention; Measurement and Metrics; Philanthropy and Charitable Giving; Risk and Uncertainty; Nonprofit Organizations; Social Enterprise
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      Rigol, Natalia, Benjamin N. Roth, Brian Trelstad, and Amram Migdal. "Prime Coalition: Estimating Climate Impact." Harvard Business School Case 824-119, October 2023.
      • October 2023 (Revised May 2024)
      • Case

      Governance and Growth at GenUnity

      By: Brian Trelstad, Paul Healy and Annelena Lobb
      Jerren Chang, CEO and co-founder of GenUnity, had to choose a strategy to scale his civic engagement-focused nonprofit. Based in Boston, Chang could grow the organization there or begin to expand to other cities. He also had to select candidates for a board of... View Details
      Keywords: Growth and Development Strategy; Nonprofit Organizations; Expansion; Governing and Advisory Boards; Boston
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      Trelstad, Brian, Paul Healy, and Annelena Lobb. "Governance and Growth at GenUnity." Harvard Business School Case 324-015, October 2023. (Revised May 2024.)
      • October 2023
      • Supplement

      McDonald’s Board of Directors (B)

      By: Lynn S. Paine and Will Hurwitz
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      Paine, Lynn S., and Will Hurwitz. "McDonald’s Board of Directors (B)." Harvard Business School Supplement 324-045, October 2023.
      • October 2023
      • Supplement

      McDonald’s Board of Directors (D)

      By: Lynn S. Paine and Will Hurwitz
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      Paine, Lynn S., and Will Hurwitz. "McDonald’s Board of Directors (D)." Harvard Business School Supplement 324-047, October 2023.
      • October 2023 (Revised January 2024)
      • Case

      McDonald's Board of Directors (A)

      By: Lynn S. Paine and Will Hurwitz
      In October 2019, the McDonald’s Corporation board of directors, chaired by Enrique Hernandez, Jr., gathered to learn the results of their outside counsel’s investigation into the conduct of the CEO. On the surface, the iconic fast-food chain was thriving as growing... View Details
      Keywords: Board Of Directors; Board Chair; Board Decisions; Business Ethics; Corporate Boards; Fast Food; Franchising; Legal Aspects Of Business; Legal Battle; Legal Settlement; Misconduct; Regulation; Reorganization; Restaurant Industry; Sexual Harassment; Shareholders; Stakeholder Management; Strategy And Execution; Turnaround; Corporate Accountability; Corporate Governance; Culture; Executive Compensation; Leadership; Management; Ethics; Governing and Advisory Boards; Business and Stakeholder Relations; Food and Beverage Industry; Illinois; United States
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      Paine, Lynn S., and Will Hurwitz. "McDonald's Board of Directors (A)." Harvard Business School Case 324-044, October 2023. (Revised January 2024.)
      • October 2023
      • Supplement

      McDonald's Board of Directors (C)

      By: Lynn S. Paine and Will Hurwitz
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      Paine, Lynn S., and Will Hurwitz. "McDonald's Board of Directors (C)." Harvard Business School Supplement 324-046, October 2023.
      • October 2023 (Revised May 2024)
      • Case

      JSW Steel: Balancing Growth While Decarbonizing

      By: Vikram S Gandhi and Radhika Kak
      Sajjan Jindal, Chairman & Managing Director of JSW Steel, India's largest steel producer by market capitalization, was facing a dilemma. Steel demand in India was expected to grow exponentially over the next decade. However, given its traditional reliance on carbon,... View Details
      Keywords: Decisions; Environmental Sustainability; Investment; Governing Rules, Regulations, and Reforms; Growth and Development; Corporate Social Responsibility and Impact; Pollutants; Pollution; Production; Steel Industry; India
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      Gandhi, Vikram S., and Radhika Kak. "JSW Steel: Balancing Growth While Decarbonizing." Harvard Business School Case 824-002, October 2023. (Revised May 2024.)
      • September 2023 (Revised January 2024)
      • Case

      Icahn Enterprises: Ponzi Scheme or Sound Investment

      By: Aiyesha Dey, Jonas Heese and James Weber
      Icahn Enterprises, a publicly traded limited partnership founded and operated by famed activist investor Carl Icahn, had earned above market returns for over a decade. Between 2018 and early 2023, it had a compound annual return of 31%. Icahn invested in undervalued... View Details
      Keywords: Stock Shares; Investment Return; Business Model; Valuation; Financial Services Industry
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      Dey, Aiyesha, Jonas Heese, and James Weber. "Icahn Enterprises: Ponzi Scheme or Sound Investment." Harvard Business School Case 124-013, September 2023. (Revised January 2024.)
      • September 2023 (Revised September 2024)
      • Technical Note

      Measuring and Managing Social Impact

      By: Brian Trelstad, Gerald Chertavian and Susan Pinckney
      A brief overview of how to measure social impact at nonprofits, social organizations, and impact investments. View Details
      Keywords: Analysis; Change; Transformation; Decision Making; Cost vs Benefits; Decision Choices and Conditions; Decisions; Forecasting and Prediction; Public Sector; Entrepreneurship; Social Entrepreneurship; Fairness; Entrepreneurial Finance; Governance; Governing and Advisory Boards; Policy; Innovation and Management; Knowledge Acquisition; Knowledge Use and Leverage; Goals and Objectives; Growth and Development Strategy; Growth Management; Management Analysis, Tools, and Techniques; Management Practices and Processes; Resource Allocation; Measurement and Metrics; Standards; Strength and Weakness; Mission and Purpose; Success; Performance; Performance Evaluation; Philanthropy and Charitable Giving; Strategic Planning; Programs; Risk and Uncertainty; Social Enterprise; Non-Governmental Organizations; Social Issues; United States
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      Trelstad, Brian, Gerald Chertavian, and Susan Pinckney. "Measuring and Managing Social Impact." Harvard Business School Technical Note 324-017, September 2023. (Revised September 2024.)
      • September 2023
      • Case

      Derek Aguirre

      By: Leslie Perlow and Hannah Weisman
      Derek Aguirre is the executive director of a nonprofit organization in Detroit, Michigan that uses the sport of squash as a vehicle to support young people in low-income urban areas. The case discusses his path to pursue meaningful work and his reflections on the... View Details
      Keywords: Personal Development and Career; Job Search; Happiness; Well-being; Work-Life Balance; Nonprofit Organizations; Social Enterprise; Business Startups; Sports; Education; Mission and Purpose; Education Industry; Sports Industry; Service Industry; United States; Boston; Detroit
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      Perlow, Leslie, and Hannah Weisman. "Derek Aguirre." Harvard Business School Case 424-019, September 2023.
      • September 2023 (Revised October 2024)
      • Case

      Forecasting Climate Risks: Aviva’s Climate Calculus

      By: Mark Egan and Peter Tufano
      In late 2021, Ben Carr, Director of Analytics and Capital Modeling at Aviva Plc (Aviva)—a leading insurer with core operations in the UK, Ireland and Canada,—was preparing for an upcoming presentation before the company's board which included its CEO, Amanda Blanc,... View Details
      Keywords: Climate Risk; Climate Finance; Forecasting; Insurance; Risk Measurement; Climate Change; Risk Management; Forecasting and Prediction; Insurance Industry; United States
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      Egan, Mark, and Peter Tufano. "Forecasting Climate Risks: Aviva’s Climate Calculus." Harvard Business School Case 224-025, September 2023. (Revised October 2024.)
      • September 2023 (Revised July 2024)
      • Case

      Going Mobile-First? The Digital Transformation of Davivienda Bank in Colombia

      By: Jorge Tamayo and Jenyfeer Martinez Buitrago
      Set in 2017, this case describes the digital transformation strategy of Davivienda—a leading player in Colombia’s commercial banking and one of the companies belonging to Grupo Bolívar, a major Colombian financial conglomerate. The case also describes the pioneer role... View Details
      Keywords: Change Management; Transformation; Decision Choices and Conditions; Information Technology; Digital Strategy; Digital Transformation; Internet and the Web; Mobile and Wireless Technology; Innovation and Management; Innovation Strategy; Growth and Development Strategy; Business Strategy; Banking Industry; Latin America; Central America; South America; Colombia
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      Tamayo, Jorge, and Jenyfeer Martinez Buitrago. "Going Mobile-First? The Digital Transformation of Davivienda Bank in Colombia." Harvard Business School Case 724-389, September 2023. (Revised July 2024.)
      • September 2023
      • Case

      The Meteoric Rise of Skims

      By: Ayelet Israeli, Jill Avery and Leonard A. Schlesinger
      Since its founding in 2019 by Kim Kardashian and Jens Grede, Skims, a solutions-oriented brand creating the next generation of underwear, loungewear, and shapewear with an eye toward body-type and skin-tone inclusivity, has experienced a meteoric rise. Kardashian, who... View Details
      Keywords: Brand; Branding; Direct-to-consumer; DTC; Influencers; Influencer Marketing; Fashion; Growth; Direct Marketing; Influence; Reputation; Social Inference; Consumer Goods; Consumer Products; Female Entrepreneur; Female Protagonist; Entrepreneurship And Strategy; Brand & Product Management; Competitive Advantage; Online Followers; Retail; Retail Formats; Retailing; Online Retail; Celebrities; Celebrity; Celebrity Endorsement; Go To Market Strategy; Apparel; Startup Marketing; Startups; Social Influencers; Brands and Branding; Growth and Development Strategy; Growth Management; Distribution Channels; Digital Marketing; Advertising; Power and Influence; Social Media; Fashion Industry; Apparel and Accessories Industry; Consumer Products Industry; United States
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      Israeli, Ayelet, Jill Avery, and Leonard A. Schlesinger. "The Meteoric Rise of Skims." Harvard Business School Case 524-023, September 2023.
      • September–October 2023
      • Article

      What Does 'Stakeholder Capitalism' Mean to You?: A Guide to the Four Main Types

      By: Lynn S. Paine
      Business leaders are being urged to adopt a multistakeholder approach to governance in place of the shareholder-centered approach that has guided their work for several decades. But through hundreds of interviews with directors, executives, investors, governance... View Details
      Keywords: Stakeholder Capitalism; Corporate Governance; Business and Shareholder Relations; Business and Stakeholder Relations; Organizational Structure; Trust
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      Paine, Lynn S. "What Does 'Stakeholder Capitalism' Mean to You? A Guide to the Four Main Types." Harvard Business Review 101, no. 5 (September–October 2023): 108–119. (Reprinted in HBR’s 10 Must Reads 2025: The Definitive Management Ideas of the Year from Harvard Business Review 2025, Boston, Mass: Harvard Business Review Press, 2025, pp. 115-132.))
      • August 2023 (Revised February 2024)
      • Case

      DexAI

      By: Jo Tango and Christina Wallace
      During a challenging fundraising environment, the DexAI founders received two term sheets with nearly identical economic terms but very different legal ones. The entrepreneurs had to navigate: representations and warranties (their personal guarantees that the company's... View Details
      Keywords: Venture Capital Term Sheet; Term Sheet; Term Sheets; Founders; Legal Aspects Of Business; Seed Financing; Founders' Agreements; Venture Capital; Entrepreneurship; Financing and Loans; Intellectual Property; Entrepreneurial Finance; Contracts; Business Startups; Agreements and Arrangements
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      Tango, Jo, and Christina Wallace. "DexAI." Harvard Business School Case 824-030, August 2023. (Revised February 2024.)
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