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      • Faculty Publications  (534)

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      • September 2021
      • Article

      Network Interconnectivity and Entry into Platform Markets

      By: Feng Zhu, Xinxin Li, Ehsan Valavi and Marco Iansiti
      Digital technologies have led to the emergence of many platforms in our economy today. In certain platform networks, buyers in one market purchase services from providers in many other markets, whereas in others, buyers primarily purchase services from providers within... View Details
      Keywords: Network Interconnectivity; Platform Competition; Market Entry; Networks; Digital Platforms; Competition; Market Entry and Exit
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      Zhu, Feng, Xinxin Li, Ehsan Valavi, and Marco Iansiti. "Network Interconnectivity and Entry into Platform Markets." Information Systems Research 32, no. 3 (September 2021): 1009–1024.
      • September 2021
      • Article

      Trials and Terminations: Learning from Competitors' R&D Failures

      By: Joshua L. Krieger
      I analyze project continuation decisions where firms may resolve uncertainty through news about competitors' research and development (R&D) failures, as well as through their own results. I examine the trade-offs and interactions between product-market competition and... View Details
      Keywords: Research and Development; Projects; Failure; Decision Making; Learning
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      Krieger, Joshua L. "Trials and Terminations: Learning from Competitors' R&D Failures." Management Science 67, no. 9 (September 2021).
      • August 2021
      • Case

      Mylestone: Can Multiple Pivots Preserve the Life of a Death Tech Startup?

      By: Shikhar Ghosh and Marilyn Morgan Westner
      Dave Balter and Jim Myers co-founded Mylestone, a death tech startup that applied technology to transform how grieving people memorialize the dead. The startup addressed a cultural problem and promised to solve a pressing need in the antiquated, multi-billion dollar... View Details
      Keywords: Pivot; Startup; Business Model; Cryptocurrency; Ethical Decision Making; Emotions; Growth and Development Strategy; Ethics; Market Entry and Exit; Customer Relationship Management; Loss; Change Management; Relationships
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      Ghosh, Shikhar, and Marilyn Morgan Westner. "Mylestone: Can Multiple Pivots Preserve the Life of a Death Tech Startup?" Harvard Business School Case 822-018, August 2021.
      • Summer 2021
      • Article

      Platform Leadership and Supply Chains: Intel, Centrino, and the Restructuring of Wi-Fi Supply

      By: Roberto Fontana and Shane Greenstein
      In this paper we examine Intel’s launch of Centrino and interpret it as platform leaders attempt to restructure a supply chain. We provide a narrative of key actions and how they coordinated changes and offer a framework of the predictable consequences for... View Details
      Keywords: Mobile and Wireless Technology; Product Launch; Supply Chain; Restructuring; Framework
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      Fontana, Roberto, and Shane Greenstein. "Platform Leadership and Supply Chains: Intel, Centrino, and the Restructuring of Wi-Fi Supply." Journal of Economics & Management Strategy 30, no. 2 (Summer 2021): 259–286.
      • June 2021 (Revised November 2021)
      • Case

      Equity Bank: Charting the Future

      By: Lauren Cohen, Michael Chitavi and Spencer C. N. Hagist
      After climbing the ranks among Kenya's financial institutions from 66th to 1st, and toppling a quarter of the market share held by mobile money giant Safaricom, CEO James Mwangi must now guide Equity Bank into its next stage of development beyond "Equity 3.0." Should... View Details
      Keywords: Growth and Development Strategy; Leadership; Decision Making; Market Entry and Exit; Developing Countries and Economies; Financial Institutions; Economics; Kenya
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      Cohen, Lauren, Michael Chitavi, and Spencer C. N. Hagist. "Equity Bank: Charting the Future." Harvard Business School Case 221-105, June 2021. (Revised November 2021.)
      • April 2021
      • Background Note

      HEAD vs. LEAD: Disruptions Originating at the High- vs. Low-End of the Market

      By: Elie Ofek, Olivier Toubia and Didier Toubia
      Twenty five years after it was initially proposed, Clay Christensen’s theory of disruptive innovation continues to be a major reference for entrepreneurs, corporate innovators, and investors. However, the term “disruptive innovation” is often used in ways and contexts... View Details
      Keywords: Market Entry; New Product Management; Targeting; Disruptive Innovation; Market Entry and Exit; Entrepreneurship; Product; Management; Innovation Strategy; Technology
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      Ofek, Elie, Olivier Toubia, and Didier Toubia. "HEAD vs. LEAD: Disruptions Originating at the High- vs. Low-End of the Market." Harvard Business School Background Note 521-104, April 2021.
      • April 2021
      • Article

      Homing and Platform Responses to Entry: Historical Evidence from the U.S. Newspaper Industry

      By: K. Francis Park, Robert Seamans and Feng Zhu
      We examine how heterogeneity in customers’ tendencies to single-home or multi-home affects a platform’s competitive responses to new entrants in the market. We first develop a formal model to generate predictions about how a platform will respond. We then empirically... View Details
      Keywords: Single-homing; Multi-homing; Platform Responses; Newpaper; Television; Digital Platforms; Market Entry and Exit; Newspapers; Television Entertainment; History; Journalism and News Industry; Journalism and News Industry
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      Park, K. Francis, Robert Seamans, and Feng Zhu. "Homing and Platform Responses to Entry: Historical Evidence from the U.S. Newspaper Industry." Strategic Management Journal 42, no. 4 (April 2021): 684–709.
      • March 2021 (Revised February 2025)
      • Teaching Note

      Afterpay U.S.: The Omnichannel Dilemma

      By: Antonio Moreno and Anibha Singh
      Teaching Note for HBS Case No. 519-086. In 2018, Nick Molnar, the founder of the Australia-based online payment service Afterpay began its expansion to the U.S. market. The service had gained a loyal following in Australia by enabling customers to pay for online... View Details
      Keywords: Omnichannel Retail; Digital Marketing; Business Startups; Business Growth and Maturation; Business Model; Business Organization; For-Profit Firms; Change Management; Customer Value and Value Chain; Customer Relationship Management; Customer Satisfaction; Financing and Loans; Microfinance; Global Strategy; Marketing Strategy; Market Entry and Exit; Digital Platforms; Product Development; Supply Chain Management; Business and Stakeholder Relations; Networks; Network Effects; Internet and the Web; Financial Services Industry; Technology Industry; United States; Australia
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      Moreno, Antonio, and Anibha Singh. "Afterpay U.S.: The Omnichannel Dilemma." Harvard Business School Teaching Note 521-074, March 2021. (Revised February 2025.)
      • February 2021
      • Teaching Plan

      Soofa: Displaying the Right Path?

      By: Jeffrey J. Bussgang and Amy Klopfenstein
      This teaching plan serves as a supplement to the case “Soofa: Displaying the Right Path?” HBS 820-098. The case explores the tension between two different financing and expansion plans for a startup, and explores issues related to business model pivots and industry... View Details
      Keywords: Business Ventures; Business Model; Business Plan; Business Startups; Entrepreneurship; Decision Making; Decisions; Judgments; Ethics; Geography; Geopolitical Units; Finance; Investment; Markets; Market Entry and Exit; Demand and Consumers; Media; Society; Urban Development; Sustainable Cities; Information Technology; Information Infrastructure; Digital Platforms; Strategy; Business Strategy; Expansion; Relationships; Capital; Venture Capital; Media and Broadcasting Industry; Media and Broadcasting Industry; Media and Broadcasting Industry; North and Central America; United States; Massachusetts; Cambridge
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      Bussgang, Jeffrey J., and Amy Klopfenstein. "Soofa: Displaying the Right Path?" Harvard Business School Teaching Plan 821-055, February 2021.
      • 2022
      • Working Paper

      Exclusive Dealing and Entry by Competing Two-Sided Platforms

      By: Cristian Chica, Kenneth Chuk and Jorge Tamayo
      We study competition between horizontally differentiated platforms offering exclusive and non-exclusive contracts to one side of the market (content providers). The introduction of non-exclusive contracts in addition to exclusive contracts softens the competition for... View Details
      Keywords: Two-Sided Markets; Platform Price Competition; Network Externalities; Exclusive Contracts; Multi-homing; Digital Platforms; Price; Competition; Contracts
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      Chica, Cristian, Kenneth Chuk, and Jorge Tamayo. "Exclusive Dealing and Entry by Competing Two-Sided Platforms." Harvard Business School Working Paper, No. 21-092, March 2021. (Revised February 2022. R&R International Journal of Industrial Organization.)
      • January 2021 (Revised March 2022)
      • Case

      Arçelik: From a Dealer Network to an Omnichannel Experience

      By: Ayelet Israeli and Fares Khrais
      Arçelik Turkey, the country’s market leader in household appliances, was at an omnichannel crossroads in January 2020. Arçelik was a B2B player utilizing a dealership network with an umbrella of brands and had one of the largest brick-and-mortar store networks in... View Details
      Keywords: Digital Marketing; Bricks And Mortar; Franchise Management; Franchising; Dealer Network; Dealers; B2B; B2B2C; Tradition; Culture Change; Cultural Adaptation; Omnichannel; Omnichannel Retail; Omni-channel; Omnichannel Retailing; Sales Channels; Sales Channel Development; Channel Management; Channels Of Distribution; Marketplace; Platforms; Collaboration; Online Channel; Online Data; Online Sales; Online Shopping; Online; Retail; Retailing; Disruption; Transformation; Franchise Ownership; Change Management; Partners and Partnerships; Consumer Behavior; Sales; Internet and the Web; Marketing Strategy; Conflict and Resolution; Conflict Management; Organizational Culture; Distribution Channels; Digital Transformation; Digital Platforms; Electronics Industry; Retail Industry; Consumer Products Industry; Turkey
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      Israeli, Ayelet, and Fares Khrais. "Arçelik: From a Dealer Network to an Omnichannel Experience." Harvard Business School Case 521-067, January 2021. (Revised March 2022.)
      • December 2020
      • Case

      Tencent: Combining Technology and Culture

      By: Elie Ofek, Billy Chan and Dawn H. Lau
      Tencent, one of the largest Internet conglomerates in China, had a vision to become a "Tech+Culture" firm. With dominant market shares in online games and social networking, it had built a vast Internet-based entertainment ecosystem, and was now focused on cultural... View Details
      Keywords: Media Franchise; Marketing; Market Entry and Exit; Product Launch; Strategy; Culture; China
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      Ofek, Elie, Billy Chan, and Dawn H. Lau. "Tencent: Combining Technology and Culture." Harvard Business School Case 521-066, December 2020.
      • December 2020 (Revised February 2021)
      • Case

      Kerry Group: Inspiring Food, Nourishing Life

      By: Forest L. Reinhardt, José B. Alvarez, Damien McLoughlin, Tonia Labruyere and Tonia Junker
      The Irish company Kerry Group, one of the leading global players in the taste and nutrition industry, wants to ensure its future growth in developing and developed markets. Founded in 1972 as a dairy cooperative, it had grown into a provider of taste and nutrition... View Details
      Keywords: Agribusiness; Environmental Sustainability; Food; Nutrition; Growth and Development Strategy; Global Range; Market Entry and Exit; Customer Relationship Management; Agriculture and Agribusiness Industry
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      Reinhardt, Forest L., José B. Alvarez, Damien McLoughlin, and Tonia Labruyere. "Kerry Group: Inspiring Food, Nourishing Life." Harvard Business School Case 721-019, December 2020. (Revised February 2021.)
      • December 2020 (Revised May 2021)
      • Case

      Riverstone

      By: David E. Bell and Natalie Kindred
      In 2020, Luke Minion and the leadership team at Riverstone, a hog producer founded in 2013 in Shandong, China, were evaluating Riverstone’s strategy as it rebounded from outbreaks of African Swine Fever (ASF) in two of its three farm complexes. Riverstone was a joint... View Details
      Keywords: Strategy; Globalization; Cross-Cultural and Cross-Border Issues; Animal-Based Agribusiness; Consumer Behavior; Demand and Consumers; Disruption; Risk and Uncertainty; Risk Management; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; United States; China
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      Bell, David E., and Natalie Kindred. "Riverstone." Harvard Business School Case 521-063, December 2020. (Revised May 2021.)
      • December 2020
      • Article

      Different Founders, Different Firms: A Comparative Analysis of Academic and Non-academic Startups

      By: Maria P. Roche, Annamaria Conti and Frank T. Rothaermel
      What role do differences in founders' occupational backgrounds play in new venture performance? Analyzing a novel dataset of 2,998 founders creating 1,723 innovative startups in biomedicine, we find that the likelihood and hazard of achieving a liquidity event are... View Details
      Keywords: Founders; Innovation; Occupational Imprinting; Academic Startups; Non-academic Startups; Founder Heterogeneity; Business Startups; Innovation and Invention; Performance; Demographics; Analysis
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      Roche, Maria P., Annamaria Conti, and Frank T. Rothaermel. "Different Founders, Different Firms: A Comparative Analysis of Academic and Non-academic Startups." Special Issue on Innovative Start-Ups and Policy Initiatives. Research Policy 49, no. 10 (December 2020).
      • November 2020
      • Article

      Tackling Youth Unemployment: Evidence from a Labor Market Experiment in Uganda

      By: Livia Alfonsi, Oriana Bandiera, Vittorio Bassi, Robin Burgess, Imran Rasul, Munshi Sulaiman and Anna Vitali
      We design a labor market experiment to compare demand- and supply-side policies to tackle youth unemployment, a key issue in low-income countries. The experiment tracks 1700 workers and 1500 firms over four years to compare the effect of offering workers either... View Details
      Keywords: Employment; Training; Competency and Skills; Developing Countries and Economies
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      Alfonsi, Livia, Oriana Bandiera, Vittorio Bassi, Robin Burgess, Imran Rasul, Munshi Sulaiman, and Anna Vitali. "Tackling Youth Unemployment: Evidence from a Labor Market Experiment in Uganda." Econometrica 88, no. 6 (November 2020): 2369–2414.
      • October 2020 (Revised July 2023)
      • Case

      UCK Partners: Gong Cha

      By: Victoria Ivashina and Sangyun Lee
      In the Spring of 2017, Soomin Kim, Founding Partner of UCK Partners, and his team were debating the potential exit of UCK Partner’s investment in Gong Cha Korea, the sole local franchisor of the premium milk tea brand that they proprietarily sourced three years ago.... View Details
      Keywords: Exit; Strategic Decision Making; Private Equity; Investment; Strategy; Investment Return; Decision Making; Bids and Bidding
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      Ivashina, Victoria, and Sangyun Lee. "UCK Partners: Gong Cha." Harvard Business School Case 221-040, October 2020. (Revised July 2023.)
      • October 2020
      • Article

      Collusion in Markets with Syndication

      By: John William Hatfield, Scott Duke Kominers, Richard Lowery and Jordan M. Barry
      Markets for IPOs and debt issuances are syndicated, in the sense that a bidder who wins a contract may invite losing bidders to join a syndicate that together fulfills the contract. We show that in markets with syndication, standard intuitions from industrial... View Details
      Keywords: Collusion; Antitrust; IPO Underwriting; Syndication; "Repeated Games"; Markets; Game Theory
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      Hatfield, John William, Scott Duke Kominers, Richard Lowery, and Jordan M. Barry. "Collusion in Markets with Syndication." Journal of Political Economy 128, no. 10 (October 2020).
      • 2022
      • Working Paper

      Where the Cloud Rests: The Location Strategies of Data Centers

      By: Shane Greenstein and Tommy Pan Fang
      This study provides an analysis of the entry strategies of third-party data centers in the United States. We examine the market before the pandemic in 2018 and 2019, when supply and demand for data services were geographically stable. We compare with the entry... View Details
      Keywords: Cloud Computing; Location Strategies; Data Centers; Information Infrastructure
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      Greenstein, Shane, and Tommy Pan Fang. "Where the Cloud Rests: The Location Strategies of Data Centers." Harvard Business School Working Paper, No. 21-042, September 2020. (Revised June 2022.)
      • September 2020
      • Case

      Uber at a Crossroads (2017)

      By: Ramon Casadesus-Masanell and Karen Elterman
      This case describes the history of Uber, its business model—including the ways it differed from that of the traditional taxi industry—and its competition with Lyft. The case is set in 2017, a year in which Uber was plagued by even more scandals than usual, though its... View Details
      Keywords: Business Startups; Business Model; Customer Satisfaction; Fairness; Values and Beliefs; Price; Profit; Revenue; Investment; Government Legislation; Business History; Compensation and Benefits; Resignation and Termination; Employment; Wages; Lawfulness; Leadership Style; Leading Change; Management Style; Market Entry and Exit; Digital Platforms; Product Design; Organizational Culture; Problems and Challenges; Attitudes; Strategy; Competitive Strategy; Expansion; Transportation Networks; Mobile and Wireless Technology; Valuation; Transportation Industry; Technology Industry; United States
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      Casadesus-Masanell, Ramon, and Karen Elterman. "Uber at a Crossroads (2017)." Harvard Business School Case 721-376, September 2020.
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