Publications

January 2018 (Revised April 2021)
Case

Capital Allocation at HCA

By: W. Carl Kester and Emily R. McComb

In early 2017, HCA Holdings, an investor-owned hospital management company, faced a strategically important capital allocation decision. After the exit of its private equity sponsors in 2016, HCA had to determine how best to allocate its substantial annual free cash... View Details

Keywords: Capital Allocation; Cash Distribution Policy; Dividends; Share Repurchases; Growth Strategy And Execution; Growth Investing; Capital Expenditures; Debt Management; Debt Reduction; Debt Policy; Hospital Management; Investor-owned Hospital Chains; Capital Budgeting; Capital Structure; Cash Flow; Corporate Finance; Decision Choices and Conditions; Health Industry; United States

Benjamin Esty is the Roy and Elizabeth Simmons Professor of Business Administration at Harvard Business School. Over the years, he has taught a variety of courses ranging from advanced corporate finance and project finance to competitive strategy and leadership. He... View Details

Keywords: investment banking industry; investment banking industry; investment banking industry; investment banking industry; investment banking industry; investment banking industry; investment banking industry

31 Aug 2010
First Look

First Look: August 31

otherwise dismal retail outlook in 2009. This case gives background pet retail industry information and strategic positioning information for both PetSmart and PETCO to enable students to develop their own... View Details

Keywords: Sean Silverthorne

December 2018
Case

Corporate Transformation at Merck KGaA, Darmstadt, Germany

By: Joseph B. Fuller, Amy C. Edmondson, Daniela Beyersdorfer and Tonia Labruyere

When Stefan Oschmann became CEO and chairman of the executive board of Merck KGaA, Darmstadt, Germany, in 2016, the company had started its transformation from a mid-tier traditional German industry player to a global modern science and technology player. The... View Details

Keywords: Corporate Governance With Family Ownership; Transformation; Change Management; Restructuring; Corporate Governance; Family Ownership

Program

Designing and Executing Corporate Revitalization

major corporate challenges proactively, make the right strategic moves, and lead a revitalization effort that establishes a firm foundation for growth. This program is eligible for the Certificate of Management Excellence. Learn More Key... View Details

September 2008
Case

Pfizer Inc: Building an Innovation Center

By: Stefan H. Thomke and Ashok Nimgade

The case describes Pfizer's efforts to build and run an innovation center in Cambridge, Massachusetts. As the center goes through different periods of leadership and strategic models, its relationship with the corporation and other research sites is explored. The case... View Details

Keywords: Innovation and Management; Innovation Strategy; Leadership; Organizational Culture; Research and Development; Pharmaceutical Industry; Cambridge

May 1993 (Revised May 1996)
Case

BellSouth Enterprises: The Cellular Billing Project

When BellSouth Enterprises decided to aggressively pursue the international cellular market, it needed new software in order to cope with the complexities of cellular billing and the country-specific variations in the international cellular market. BellSouth made the... View Details

Keywords: Alliances; Market Entry and Exit; Software; Global Strategy; Telecommunications Industry; United States

June 2004 (Revised June 2006)
Case

Scientific-Atlanta, Inc.

By: Thomas R. Eisenmann

Scientific-Atlantia (S-A), a leading manufacturer of cable TV equipment, is confronting strategic challenges in mid-2004. For decades, cable operators have faced high switching costs that have locked them into exclusive supply relationships with either S-A or its... View Details

Keywords: Technological Innovation; Competition; Industry Structures; Television Entertainment; Duopoly and Oligopoly; Manufacturing Industry; Manufacturing Industry

May 1992 (Revised May 1993)
Supplement

Jan Carlzon: CEO at SAS (B)

By: Christopher A. Bartlett

Summarizes Carlzon's new focus externally on building alliances and acquiring travel service companies. Describes the financial problems resulting from the recession and the Gulf War crisis. Designed as an in-class handout to highlight the long-term management... View Details

Keywords: Acquisition; Financial Crisis; Problems and Challenges; Planning; Leadership; Alliances; Strategy; Air Transportation Industry

Web

Social Enterprise | Harvard Business School

previously held leadership roles with the Chicago Park District, Chicago... Events 2025 Jul 27 Jul-02 Aug Executive Education: Strategic Perspectives in Nonprofit Management This week-long on-campus program for nonprofit leaders explores... View Details

05 Jul 2023
HBS Case

What Kind of Leader Are You? How Three Action Orientations Can Help You Meet the Moment

specific task at hand (e.g., an appreciation for broader market changes, competitor behaviors, or emergent industry trends). Relational. Relational leaders design a plan of action based on how others will perceive and be affected by the... View Details

Keywords: by Ben Rand

December 1997
Case

Intercontinental Breweries (Abridged)

By: Thomas R. Piper

A senior executive of a U.S. multinational is attempting to develop a set of financial, operating, and ownership arrangements that will be acceptable to the management and employees of a major Polish company and to the Ministry of Privatization. The arrangements must... View Details

Keywords: Agreements and Arrangements; Multinational Firms and Management; Joint Ventures; Food and Beverage Industry; Poland; United States

Program

Driving Digital Strategy

Summary Technology, like a relentless force of nature, is reshaping industries at an unprecedented pace. It poses a threat to those who resist and fail to adapt. But it also presents unparalleled opportunities to those audacious enough to... View Details

March 2023
Case

Roche: ESG and Access to Healthcare

By: George Serafeim

In May 2022, Roche Group, one of the largest healthcare companies in the world, hosted its first ESG 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... View Details

June 2022 (Revised August 2022)
Case

Sustainability Reporting at Dollar Tree, Inc.

By: Suraj Srinivasan and Li-Kuan Ni

The cases discusses the ESG strategy of Dollar Tree Inc., a U.S. Fortune 500 company in the deep discount retail industry and the and shareholder pressure faced by the company. In 2022, the company faced a shareholder resolution from a renowned shareholder advocacy... View Details

Keywords: ESG; Sustainability; Shareholder Activism; Dollar Tree; Sustainability Reporting; ESG Reporting; Board Of Directors; Shareholder Engagement; GHG; Environmental Accounting; Integrated Corporate Reporting; Trends; Communication; Announcements; Voting; Environmental Management; Climate Change; Environmental Sustainability; Values and Beliefs; Corporate Accountability; Corporate Disclosure; Corporate Governance; Governing Rules, Regulations, and Reforms; Policy; Reports; Business or Company Management; Risk Management; Corporate Social Responsibility and Impact; Outcome or Result; Strategic Planning; Business and Stakeholder Relations; Situation or Environment; Opportunities; Civil Society or Community; Social Issues; Public Opinion; Strategy; Adaptation; Alignment; Business Strategy; Corporate Strategy; Value Creation; Retail Industry; United States; Virginia

July 1987 (Revised May 1993)
Case

Atlas Copco (A): Gaining and Building Distribution Channels

By: V. Kasturi Rangan

Atlas Copco, a Swedish company, holds the highest market share for air compressors worldwide. However, its attempts to enter U.S. markets have been unsuccessful. The case describes a series of strategic distribution maneuvers implemented by the company which enable it... View Details

Keywords: Growth and Development; Marketing Channels; Market Entry and Exit; Market Participation; Distribution Channels; Failure; Industrial Products Industry; Sweden; United States

August 2003 (Revised June 2005)
Case

Royal Bank of Scotland, The: Masters of Integration

By: Nitin Nohria and James Weber

Describes the acquisition of Nat West by Royal Bank of Scotland. Describes the strategic rationale for the acquisition and the process by which the integration of the two banks was accomplished. The acquisition is remarkable for how successful it was, given the typical... View Details

Keywords: Mergers and Acquisitions; Integration; Banks and Banking; Success; Banking Industry; Scotland

April 2001 (Revised August 2001)
Case

Color Kinetics Incorporated (A)

By: Das Narayandas and Mary N. Caravella

Two-year-old start-up Color Kinetics has developed unique colored lighting technology using digitally controlled LEDs, and has developed that technology into a successful line of products for its first targeted market of "retailtainment." Now in November 1999, the... View Details

Keywords: Business Startups; Growth and Development; Management Teams; Marketing Strategy; Product Launch; Market Entry and Exit; Business Strategy; Corporate Strategy; Electronics Industry

October 1994 (Revised July 1995)
Case

RCI Master Distributor: Evolution of Supplier Relationships

By: V. Kasturi Rangan

Traces the evolution of RCI as a master distributor from the time it was founded in 1946 until 1994. The second-generation owner of the distribution company faces several challenges unique to the 1990s environment that his father did not face. As Danny Schwartz... View Details

Keywords: Marketing Strategy; Distribution Channels; Problems and Challenges; Relationships; Situation or Environment; Corporate Strategy; Distribution Industry