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      • February 2025
      • Case

      Doing Business in Kigali, Rwanda

      By: Andy Zelleke, Martin A. Sinozich, Julianne Bliss and Choetsow Tenzin
      Rwanda’s transformation from a post-genocide recovery effort to one of Africa’s fastest-growing economies presents a compelling case for investors and business leaders. With an ambitious Vision 2050 strategy, Kigali has emerged as a regional hub for trade, innovation,... View Details
      Keywords: Business History; International Relations; Government and Politics; Foreign Direct Investment; Culture; Transformation; Developing Countries and Economies; Economic Growth; Emerging Markets; Rwanda
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      Zelleke, Andy, Martin A. Sinozich, Julianne Bliss, and Choetsow Tenzin. "Doing Business in Kigali, Rwanda." Harvard Business School Case 325-087, February 2025.
      • 2025
      • Article

      Emotion Regulation Contagion Drives Reduction in Negative Intergroup Emotions

      By: Michael Pinus, Yajun Cao, Eran Halperin, Alin Coman, James J. Gross and Amit Goldenberg
      When emotions occur in groups, they sometimes impact group behavior in undesired ways. Reducing group’s emotions with emotion regulation interventions can be helpful, but may also be a challenge, because treating every person in the group is often infeasible. One... View Details
      Keywords: Emotion Contagion; Emotion; Emotion Regulation; Groups and Teams; Emotions; Conflict and Resolution
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      Pinus, Michael, Yajun Cao, Eran Halperin, Alin Coman, James J. Gross, and Amit Goldenberg. "Emotion Regulation Contagion Drives Reduction in Negative Intergroup Emotions." Art. 1387. Nature Communications 16 (2025).
      • 2025
      • Working Paper

      A Cognitive Theory of Reasoning and Choice

      By: Pedro Bordalo, Nicola Gennaioli, Giacomo Lanzani and Andrei Shleifer
      We present a theory of decisions in which attention to the features of choice options is determined by the decision maker's categorization of the current choice problem in a set of problems she solved in the past. Categorization depends on goal-relevant as well as... View Details
      Keywords: Cognition and Thinking; Perception; Decision Choices and Conditions
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      Bordalo, Pedro, Nicola Gennaioli, Giacomo Lanzani, and Andrei Shleifer. "A Cognitive Theory of Reasoning and Choice." NBER Working Paper Series, No. 33466, February 2025.
      • February 2025
      • Article

      Deep Responsibility, SDGs, and Asia: A Historical Perspective

      By: Geoffrey Jones
      Although it was only in 2015 the 17 SDGs were adopted by UN Member States, many of the underlying ideas can be found in the strategies of some businesses going back to the nineteenth century. Asia was the home of many of the most advanced concepts of business... View Details
      Keywords: ESG; Multinational Corporation; Sustainability; Corporate Social Responsibility and Impact; Multinational Firms and Management; Corporate Governance; Leadership; Asia
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      Jones, Geoffrey. "Deep Responsibility, SDGs, and Asia: A Historical Perspective." Asian Business & Management 24, no. 1 (February 2025): 25–32.
      • February 2025
      • Article

      Disclosure, Humanizing, and Contextual Vulnerability of Generative AI Chatbots

      By: Julian De Freitas and I. Glenn Cohen
      In the wake of recent advancements in generative AI, regulatory bodies are trying to keep pace. One key decision is whether to require app makers to disclose the use of generative AI-powered chatbots in their products. We suggest that some generative AI-based chatbots... View Details
      Keywords: AI and Machine Learning; Governing Rules, Regulations, and Reforms; Applications and Software; Well-being
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      De Freitas, Julian, and I. Glenn Cohen. "Disclosure, Humanizing, and Contextual Vulnerability of Generative AI Chatbots." New England Journal of Medicine AI 2, no. 2 (February 2025).
      • 2025
      • Working Paper

      Impact Investing and Worker Outcomes

      By: Josh Lerner, Markus Lithell and Gordon M. Phillips
      Impact investors claim to distinguish themselves from traditional venture capital and growth equity investors by also pursuing environmental, social, and governance (ESG) objectives. Whether they successfully do so in practice is unclear. We use confidential Census... View Details
      Keywords: ESG; Corporate Social Responsibility and Impact; Private Equity; Venture Capital; Wages
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      Lerner, Josh, Markus Lithell, and Gordon M. Phillips. "Impact Investing and Worker Outcomes." Harvard Business School Working Paper, No. 25-040, February 2025. (Revised May 2025.)
      • January–March 2025
      • Article

      Transitioning from Responsible and Reactive to Deeply Responsible and Proactive International Business

      By: Geoffrey G. Jones, Teresa da Silva Lopes, Pavida Pananond, Rob van Tulder, Noemi Sinkovics and Rudolf R. Sinkovics
      This article aims to explore the role of multinational enterprises in addressing grand societal challenges, emphasizing the need for integrating environmental and social aspects into business models. It offers an analysis of how principles and values can guide engaged... View Details
      Keywords: Corporate Social Responsibility and Impact; Business Model; Multinational Firms and Management
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      Jones, Geoffrey G., Teresa da Silva Lopes, Pavida Pananond, Rob van Tulder, Noemi Sinkovics, and Rudolf R. Sinkovics. "Transitioning from Responsible and Reactive to Deeply Responsible and Proactive International Business." Critical Perspectives on International Business 21, no. 2 (January–March 2025): 196–225.
      • January 2025
      • Case

      Negotiating with Data: Analytics FC (A)

      By: Jillian Jordan and Livia Alfonsi
      Analytics FC was a UK-based sports consultancy that focused on international football (soccer), leveraging cutting-edge data-analytic techniques to support clubs, federations, and players. In 2022, Alex Greenwood, an elite female defender, approached the company for... View Details
      Keywords: Negotiation Preparation; Gender; Analytics and Data Science; Reputation; Value Creation; Consulting Industry; Sports Industry; Europe; United Kingdom
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      Jordan, Jillian, and Livia Alfonsi. "Negotiating with Data: Analytics FC (A)." Harvard Business School Case 925-014, January 2025.
      • January 2025
      • Supplement

      Negotiating with Data: Analytics FC (B)

      By: Jillian Jordan and Livia Alfonsi
      Analytics FC was a UK-based sports consultancy that focused on international football (soccer), leveraging cutting-edge data-analytic techniques to support clubs, federations, and players. In 2022, Alex Greenwood, an elite female defender, approached the company for... View Details
      Keywords: Negotiation Preparation; Gender; Analytics and Data Science; Reputation; Value Creation; Consulting Industry; Sports Industry; Europe; United Kingdom
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      Jordan, Jillian, and Livia Alfonsi. "Negotiating with Data: Analytics FC (B)." Harvard Business School Supplement 925-015, January 2025.
      • January 2025
      • Supplement

      Colbún’s Angostura Dam Project (B)

      By: James K. Sebenius and Nicolas Andrade
      The A case describes Colbún Chile’s plans for the Angostura dam in the Bío Bío River, a hydroelectric construction venture with major challenges given the region’s history of indigenous resistance. This context was especially unfavorable given the highly contentious... View Details
      Keywords: Bargaining; Dam; Stakeholder Analysis; Environmental Negotiation; Negotiation; Conflict and Resolution; Alternative Energy; Natural Environment; Environmental Sustainability; Business and Stakeholder Relations; Energy Industry; Chile
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      Sebenius, James K., and Nicolas Andrade. "Colbún’s Angostura Dam Project (B)." Harvard Business School Supplement 925-017, January 2025.
      • January 2025 (Revised January 2025)
      • Case

      Colbún's Angostura Dam Project (A)

      By: James K. Sebenius and Nicolas Andrade
      The A case describes Colbún Chile’s plans for the Angostura dam in the Bío Bío River, a hydroelectric construction venture with major challenges given the region’s history of indigenous resistance. This context was especially unfavorable given the highly contentious... View Details
      Keywords: Bargaining; Conflict Resolution; Dam; Stakeholder Analysis; Environmental Negotiation; Negotiation; Energy Generation; Construction; Business and Stakeholder Relations; Conflict and Resolution; Energy Industry; Chile
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      Sebenius, James K., and Nicolas Andrade. "Colbún's Angostura Dam Project (A)." Harvard Business School Case 925-016, January 2025. (Revised January 2025.)
      • January 2025
      • Supplement

      Go Mobile: Aligning District Managers and Store Teams (B)

      By: Tatiana Sandino and Samuel Grad
      In January 2025, Modi reflects on the past decade of Go Mobile and looks ahead to new growth strategies. View Details
      Keywords: Employee Relationship Management; Mobile and Wireless Technology; Growth Management; Organizational Design; Organizational Structure; Salesforce Management; Motivation and Incentives; Management Practices and Processes; Growth and Development Strategy; Telecommunications Industry; India
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      Sandino, Tatiana, and Samuel Grad. "Go Mobile: Aligning District Managers and Store Teams (B)." Harvard Business School Supplement 125-077, January 2025.
      • 2025
      • Working Paper

      The Hidden Costs of Flexible Labor Models: How Working Multiple Jobs Affects Employees

      By: Paige Tsai and Ryan W. Buell
      As operations increasingly rely upon flexible labor models—such as gig, part-time, and remote work—it has become commonplace for individuals to work multiple jobs. Across three studies, relying on a combination of transaction-level data from 90,548 customers of a... View Details
      Keywords: Behavioral Operations; Employee Behavior; Job Design; Sustainable Operations; Wellbeing; Job Design and Levels; Personal Finance; Well-being; Happiness; Satisfaction; Wages
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      Tsai, Paige, and Ryan W. Buell. "The Hidden Costs of Flexible Labor Models: How Working Multiple Jobs Affects Employees." Harvard Business School Working Paper, No. 25-036, January 2025. (Revised June 2025.)
      • January 2025
      • Module Note

      Understanding and Addressing Gender Gaps

      By: Katherine Coffman
      This module provides a framework for students to analyze how gender stereotypes, through their impact on beliefs about others and beliefs about ourselves, contribute to gender gaps in the workplace. The module proceeds in three parts. First, through a case and an... View Details
      Keywords: Decisions; Gender; Leadership; Management Practices and Processes; Prejudice and Bias
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      Coffman, Katherine. "Understanding and Addressing Gender Gaps." Harvard Business School Module Note 925-021, January 2025.
      • January 2025 (Revised April 2025)
      • Case

      Duolingo: On a 'Streak'

      By: Jeffrey F. Rayport, Nicole Tempest Keller and Nicole Luo
      In December 2024, Severin Hacker, Co-Founder and Chief Technology Officer of Duolingo, reflected on the remarkable evolution of the language-learning app he helped launch in 2011. As the #1 most downloaded education app in the world, Duolingo had over 100 million... View Details
      Keywords: Learning; AI and Machine Learning; Growth and Development Strategy; Motivation and Incentives; Diversification; Business Model; Market Entry and Exit; Technology Industry; Education Industry; United States
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      Rayport, Jeffrey F., Nicole Tempest Keller, and Nicole Luo. "Duolingo: On a 'Streak'." Harvard Business School Case 825-097, January 2025. (Revised April 2025.)
      • January 24, 2025
      • Article

      Behaviorally Designed Training Leads to More Diverse Hiring

      By: Cansin Arslan, Edward H. Chang, Siri Chilazi, Iris Bohnet and Oliver P. Hauser
      Many organizations have shown interest in increasing the diversity of their workforces for various reasons. Collectively, they have spent millions of dollars and countless employee hours on diversity training. Yet, there is little empirical evidence that such training... View Details
      Keywords: Training; Diversity; Selection and Staffing; Behavior; Outcome or Result; Organizational Change and Adaptation
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      Arslan, Cansin, Edward H. Chang, Siri Chilazi, Iris Bohnet, and Oliver P. Hauser. "Behaviorally Designed Training Leads to More Diverse Hiring." Science 387, no. 6732 (January 24, 2025): 364–366.
      • January 2025
      • Case

      Untapped Global: Financing Africa's Missing Middle

      By: Raymond Kluender and Emanuele Colonnelli
      In November 2024, Jim Chu, founder and CEO of Untapped Global, faced mounting internal tensions over the company’s strategic direction. Untapped had developed a data-driven revenue-based financing (RBF) model to address the “missing middle” problem—the $5.2 trillion... View Details
      Keywords: Social Entrepreneurship; Venture Capital; Working Capital; Private Equity; Financial Strategy; Microfinance; International Finance; Currency Exchange Rate; Profit Sharing; Revenue; Developing Countries and Economies; Economic Growth; Emerging Markets; Mission and Purpose; Small Business; Entrepreneurial Finance; Banking Industry; Financial Services Industry; Information Technology Industry; Technology Industry; Africa; Nigeria; South Africa; Kenya; Uganda; California; San Francisco
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      Kluender, Raymond, and Emanuele Colonnelli. "Untapped Global: Financing Africa's Missing Middle." Harvard Business School Case 825-056, January 2025.
      • January 2025
      • Supplement

      Hippo: Weathering the Storm of the Home Insurance Crisis (B)

      By: Lauren Cohen, Grace Headinger and Sophia Pan
      Rick McCathron, CEO of Hippo, was optimistic about the InsurTech's path to profitability after navigating the financial uncertainties of 2022. By bundling their home insurance services with third-parties and established insurance incumbents, Hippo was adopting a... View Details
      Keywords: Fintech; Underwriters; Big Data; Homeowners' Insurance; Catastrophe Risk; Global Warming; Environment; Business Economics; Vertical Specialization; Bundling; Economies Of Scale; Business Model; Forecasting and Prediction; Climate Change; Environmental Sustainability; Green Technology; Technological Innovation; Natural Environment; Natural Disasters; Weather; Business Strategy; Competitive Advantage; Business Earnings; Insurance; Social Issues; Profit; Growth and Development Strategy; Insurance Industry; California; United States
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      Cohen, Lauren, Grace Headinger, and Sophia Pan. "Hippo: Weathering the Storm of the Home Insurance Crisis (B)." Harvard Business School Supplement 225-051, January 2025.
      • January 2025
      • Case

      Negotiating a Legacy at Sustainable Harvest (A)

      By: Jillian Jordan, Julian Zlatev, Alicia Dadlani and Martha Hostetter
      The specialty coffee importer Sustainable Harvest was the first certified B Corp in the coffee industry due to its investments in building coffee farmers’ capacity and livelihood. But in 2022, after coffee prices plummeted and the company’s bank declined to extend its... View Details
      Keywords: Negotiation; Mergers and Acquisitions; Trust; Ethics; Plant-Based Agribusiness; Volatility; Futures and Commodity Futures; Social Enterprise; Valuation; Business Model; Credit; Corporate Social Responsibility and Impact; Insolvency and Bankruptcy; Food and Beverage Industry; United States; Europe
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      Jordan, Jillian, Julian Zlatev, Alicia Dadlani, and Martha Hostetter. "Negotiating a Legacy at Sustainable Harvest (A)." Harvard Business School Case 925-010, January 2025.
      • January 2025
      • Supplement

      Negotiating a Legacy at Sustainable Harvest (B)

      By: Jillian Jordan, Julian Zlatev, Alicia Dadlani and Martha Hostetter
      The specialty coffee importer Sustainable Harvest was the first certified B Corp in the coffee industry due to its investments in building coffee farmers’ capacity and livelihood. But in 2022, after coffee prices plummeted and the company’s bank declined to extend its... View Details
      Keywords: Negotiation; Mergers and Acquisitions; Trust; Ethics; Plant-Based Agribusiness; Volatility; Futures and Commodity Futures; Social Enterprise; Valuation; Business Model; Credit; Corporate Social Responsibility and Impact; Food and Beverage Industry; United States; Europe
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      Jordan, Jillian, Julian Zlatev, Alicia Dadlani, and Martha Hostetter. "Negotiating a Legacy at Sustainable Harvest (B)." Harvard Business School Supplement 925-011, January 2025.
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