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      • June 2025
      • Article

      Outcome and Process Frames: Strategic Renewal and Capability Reprioritization at the Federal Bureau of Investigation

      By: Ryan Raffaelli, Tiona Zuzul, Ranjay Gulati and Jan Rivkin
      [Research Summary]: Framing is critical for leaders who must build support for strategic renewal. While research has concentrated on renewal that replaces one set of capabilities with another, we explore a distinctive challenge: how leaders persuade stakeholders to... View Details
      Keywords: Framing; Stakeholder Management; Capabilities; Transformation; Leading Change; Crisis Management; Resource Allocation; Government and Politics; Business and Stakeholder Relations; Public Administration Industry
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      Raffaelli, Ryan, Tiona Zuzul, Ranjay Gulati, and Jan Rivkin. "Outcome and Process Frames: Strategic Renewal and Capability Reprioritization at the Federal Bureau of Investigation." Strategic Management Journal 46, no. 6 (June 2025): 1325–1362. (Lead article.)
      • June, 2025
      • Article

      Social Security and Trends in Wealth Inequality

      By: Sylvain Catherine, Max Miller and Natasha Sarin
      Recent influential work finds large increases in inequality in the U.S. based on measures of wealth concentration that notably exclude the value of social insurance programs. This paper shows that top wealth shares have not changed much over the last three decades when... View Details
      Keywords: Wealth; Equality and Inequality; Taxation; Insurance; Welfare
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      Catherine, Sylvain, Max Miller, and Natasha Sarin. "Social Security and Trends in Wealth Inequality." Journal of Finance 80, no. 3 (June, 2025): 1497–1531.
      • May 2025
      • Case

      Initial Financial Statements at Blank Corporation: Bridging Content and Commerce

      By: Jung Koo Kang, Panje Jayden Kim and David Allen
      This accounting case is intended to teach students how to compile an income statement, a balance sheet, and a cash flow statement. It focuses on Blank Corporation, an innovative South Korean company that bridged content and commerce by selling products directly through... View Details
      Keywords: Accounting; Financial Statements; Business Startups; Social Media; Advertising; Digital Marketing; Consumer Products Industry; South Korea
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      Kang, Jung Koo, Panje Jayden Kim, and David Allen. "Initial Financial Statements at Blank Corporation: Bridging Content and Commerce ." Harvard Business School Case 125-021, May 2025.
      • 2025
      • Working Paper

      Data-driven Technologies and Local Information Advantages in Small Business Lending

      By: Wilbur Chen, Jung Koo Kang and Aditya Mohan
      Keywords: Data-driven Technologies; Local Information Advantages; Local Banks; Relationship Lending; Small Business Loans
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      Chen, Wilbur, Jung Koo Kang, and Aditya Mohan. "Data-driven Technologies and Local Information Advantages in Small Business Lending." Harvard Business School Working Paper, No. 25-057, May 2025.
      • May 2025
      • Case

      A Decade of Corporate Governance Reform in Japan (2013-2023)

      By: Charles C.Y. Wang and Akiko Kanno
      Keywords: Corporate Governance; Japan
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      Wang, Charles C.Y., and Akiko Kanno. "A Decade of Corporate Governance Reform in Japan (2013-2023)." Harvard Business School Case 125-088, May 2025.
      • May 2025
      • Case

      Netflix Beyond Streaming: Strategies for the Next Era of Entertainment

      By: Juan Alcacer and Lorenzo Lucidi
      Netflix loses subscribers for the first time in over a decade—can the streaming pioneer reinvent itself before competitors, costs, and churn catch up? In 2022, facing fierce competition and shifting consumer behaviors, Netflix confronts its most critical strategic... View Details
      Keywords: United States; Australia; Brazil; Canada; France; Germany; India; Japan; Mexico; Russia; South Korea; Spain; United Kingdom
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      Alcacer, Juan, and Lorenzo Lucidi. "Netflix Beyond Streaming: Strategies for the Next Era of Entertainment." Harvard Business School Case 725-429, May 2025.
      • May 2025
      • Teaching Note

      Bridj and the Business of Urban Mobility (B): A New Model in Kansas City

      By: Rosabeth Moss Kanter and Jonathan Cohen
      This Teaching Note helps instructors teach students the HBS Case, Bridj and the Business of Urban Mobility (B): A New Model in Kansas City. In late 2016, Bridj was expanding its digital platform to help address urban mobility problems faced by cities across the country... View Details
      Keywords: App Development; Innovation; Stakeholder Engagement; Collaboration; Ride-sharing; Entrenchment; Digital; Transportation; Urban Development; Disruption; Business Startups; Digital Platforms; Growth and Development Strategy; Business and Stakeholder Relations; Partners and Partnerships; Expansion
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      Kanter, Rosabeth Moss, and Jonathan Cohen. "Bridj and the Business of Urban Mobility (B): A New Model in Kansas City." Harvard Business School Teaching Note 325-125, May 2025.
      • May 2025
      • Case

      Humana Commits to Value-Based Care

      By: V.G. Narayanan, Henry Eyring and David Lane
      In late 2023, CEO Bruce Broussard reviewed health insurer Humana’s transformation into a value-based care ecosystem. Under its CenterWell brand, the several millions of members in Humana Medicare Advantage plans now had access to Humana-provided primary care, home... View Details
      Keywords: Business Model; Business Units; Financing and Loans; Innovation Strategy; Growth and Development Strategy; Service Operations; Health Industry; United States
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      Narayanan, V.G., Henry Eyring, and David Lane. "Humana Commits to Value-Based Care." Harvard Business School Case 125-013, May 2025.
      • May–June 2025
      • Article

      Sustainable Business Practices Sustainability as a Business-Model Transformation

      By: Ivanka Visnjic, Felipe Monteiro and Michael Tushman
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      Visnjic, Ivanka, Felipe Monteiro, and Michael Tushman. "Sustainable Business Practices Sustainability as a Business-Model Transformation." Harvard Business Review (May–June 2025).
      • May 2025
      • Case

      The Micro-Family Office: Aamir Rehman

      By: Lauren Cohen and Sophia Pan
      With a successful career and strong academic credentials, Aamir Rehman sought to design a life grounded in autonomy. For him, this meant serving on boards, continuing his professorship, and ensuring a secure and comfortable life for his family. While he didn’t possess... View Details
      Keywords: Family Office; Organization Design; Family And Friends; Family; Balance; Stability; Trends And Opportunities; Wealth Management; Family Business; Investment; Financial Strategy; Personal Finance; Investment Portfolio; Private Equity; Organizational Design; Family and Family Relationships; Happiness; Satisfaction; Balance and Stability; Human Capital; Compensation and Benefits; Economy; Trends; Business Model; New Jersey; United States
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      Cohen, Lauren, and Sophia Pan. "The Micro-Family Office: Aamir Rehman." Harvard Business School Case 225-089, May 2025.
      • April 2025
      • Case

      Campbell's Recipe for Advancing School Nutrition

      By: Hise O. Gibson, F. Christopher Eaglin and Ai-Ling Jamila Malone
      In 2021, The Campbell’s Company launched Full Futures, a collective impact initiative aimed at advancing school nutrition environments in underserved communities. The program started in Camden, NJ—home to Campbell’s headquarters—and later expanded to Charlotte, NC, and... View Details
      Keywords: Strategy; Leadership; Corporate Social Responsibility and Impact; Education; Health; Nutrition; Social Enterprise; Relationships; Business and Community Relations; Decision Making; Operations; Food and Beverage Industry; New Jersey; North Carolina; Pennsylvania
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      Gibson, Hise O., F. Christopher Eaglin, and Ai-Ling Jamila Malone. "Campbell's Recipe for Advancing School Nutrition." Harvard Business School Case 625-117, April 2025.
      • 2025
      • Chapter

      Institutional Entrepreneurship and Climate Change

      By: Ann-Kristin Bergquist and Geoffrey Jones
      This chapter explores when and why private regulatory governance systems became the primary form of global environmental governance. The chapter explores two different historical paths in such private regulation and how they came about. The first path involved... View Details
      Keywords: Institutional Entrepreneurship; Environment; Climate Change; Governing Rules, Regulations, and Reforms; Environmental Regulation; Standards; Corporate Social Responsibility and Impact
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      Bergquist, Ann-Kristin, and Geoffrey Jones. "Institutional Entrepreneurship and Climate Change." Chap. 1 in Climate Change and Business: Historical Perspectives, edited by Teresa da Silva Lopes, Paul Duguid, and Robert Fredona, 8–29. London, United Kingdom: Routledge, 2025.
      • 2025
      • Working Paper

      Management and Firm Dynamism

      By: Nicholas Bloom, Jonathan S. Hartley, Raffaella Sadun, Rachel Schuh and John Van Reenen
      We show better-managed firms are more dynamic in plant acquisitions, disposals, openings and closings in U.S. Census and international data. Better-managed firms also birth better-managed plants, and improve the performance of the plants they acquire. To explain these... View Details
      Keywords: Management Practices; Productivity; Management Practices and Processes; Mergers and Acquisitions; Competition; Business or Company Management; Performance Productivity
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      Bloom, Nicholas, Jonathan S. Hartley, Raffaella Sadun, Rachel Schuh, and John Van Reenen. "Management and Firm Dynamism." Harvard Business School Working Paper, No. 25-052, April 2025.
      • April 2025
      • Teaching Note

      Aramco: Navigating the Energy Transition

      By: Tarun Khanna and Samir Junnarkar
      Teaching Note for HBS Case No. 725-358. View Details
      Keywords: Energy Transmission; Oil & Gas; Economic Diversification; Corporate Strategy; Leadership; Business Strategy; Goals and Objectives; Transition; Environmental Sustainability; Diversification; Energy Industry; Saudi Arabia
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      Khanna, Tarun, and Samir Junnarkar. "Aramco: Navigating the Energy Transition." Harvard Business School Teaching Note 725-442, April 2025.
      • April 2025
      • Background Note

      Climate Change Adaptation with Artificial Intelligence and Machine Learning

      By: Michael W. Toffel and Nabig Chaudhry
      Artificial Intelligence (AI) and machine learning (ML) have emerged as powerful tools to address climate change. This note summarizes a wide range of the uses of AI/ML to drive climate change adaptation and resilience, the measures organizations and governments are... View Details
      Keywords: Climate Change; Adaptation
      Citation
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      Toffel, Michael W., and Nabig Chaudhry. "Climate Change Adaptation with Artificial Intelligence and Machine Learning." Harvard Business School Background Note 625-050, April 2025.
      • April 2025
      • Teaching Note

      Allbirds: Decarbonizing Fashion (A) and (B)

      By: Michael W. Toffel, Ken Pucker and Stacy Straaberg
      Teaching Note for HBS Case Nos. 622-024, 625-004, 625-005, and 625-702. The Allbirds: Decarbonizing Fashion (A) case introduces Allbirds as a footwear startup not only focused on simple design, comfort, and sustainable natural materials but on decarbonizing the wider... View Details
      Keywords: Decarbonization; Climate Impact; Environmental Strategy; Innovation; Product Design; Supply Chain Management; Innovation Strategy; Innovation and Management; Product Development; Climate Change; Environmental Management; Environmental Sustainability; Business Startups; Initial Public Offering; Knowledge Sharing; Apparel and Accessories Industry; Apparel and Accessories Industry; United States; California
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      Toffel, Michael W., Ken Pucker, and Stacy Straaberg. "Allbirds: Decarbonizing Fashion (A) and (B)." Harvard Business School Teaching Note 625-006, April 2025.
      • April 2025
      • Case

      Lisa Su and AMD (A)

      By: Joshua D. Margolis, Matthew Preble and Dave Habeeb
      This multimedia case study focuses on CEO Lisa Su’s turnaround and subsequent transformation of the technology company Advanced Micro Devices, Inc. (AMD). When Su accepted the top position in 2014, AMD was on the verge of collapse. Su focused the company’s culture,... View Details
      Keywords: Turnaround; Artificial Intelligence; Semiconductors; Change Management; Transformation; Decision Making; Globalized Markets and Industries; Government and Politics; AI and Machine Learning; Innovation and Management; Innovation Strategy; Innovation Leadership; Leadership; Leadership Style; Leading Change; Management; Product Design; Product Development; Organizational Change and Adaptation; Organizational Culture; Organizational Design; Strategic Planning; Business and Shareholder Relations; Business and Stakeholder Relations; Research and Development; Business Strategy; Competitive Strategy; Competitive Advantage; Corporate Strategy; Semiconductor Industry; Computer Industry; United States; California; Texas
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      Margolis, Joshua D., Matthew Preble, and Dave Habeeb. "Lisa Su and AMD (A)." Harvard Business School Multimedia/Video Case 425-704, April 2025.
      • April 2025
      • Case

      Techint: Strategic Choices for Community Impact

      By: Lauren Cohen, Virak Prum, Kenneth Charman, Pedro Levindo and Mariana Cal
      In early 2024 Erika Bienek, Chief Community Relations Officer at Techint, had to decide whether to invest in a new company-owned and operated technical school in Veracruz, Mexico, or invest instead in strengthening the city’s public education system. Techint, a global... View Details
      Keywords: Technical Institutes; Community Relations; Social Impact; Argentina; Mexico; Brazil; Conglomerate; Stakeholder Management; Government And Business; Community Impact; Philanthropy; Business Conglomerates; Business Subsidiaries; Business Headquarters; Family Business; Decision Making; Private Sector; Public Sector; Education; Curriculum and Courses; Middle School Education; Secondary Education; Teaching; Training; Learning; Energy; Engineering; Construction; Values and Beliefs; Geography; Global Range; Local Range; Cross-Cultural and Cross-Border Issues; Globalized Firms and Management; Government Legislation; Recruitment; Innovation and Invention; Disruptive Innovation; Knowledge; Resource Allocation; Industry Clusters; Infrastructure; Family Ownership; Philanthropy and Charitable Giving; Business and Community Relations; Business and Stakeholder Relations; Business and Government Relations; Creativity; Reputation; Social and Collaborative Networks; Civil Society or Community; Social Issues; Poverty; Strategy; Construction Industry; Education Industry; Energy Industry; Industrial Products Industry; Manufacturing Industry; Steel Industry; Europe; Italy; Latin America; North and Central America; Mexico; North America; United States; South America; Argentina; Buenos Aires; Brazil
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      Cohen, Lauren, Virak Prum, Kenneth Charman, Pedro Levindo, and Mariana Cal. "Techint: Strategic Choices for Community Impact." Harvard Business School Case 825-058, April 2025.
      • 2025
      • Working Paper

      Balancing Engagement and Polarization: Multi-Objective Alignment of News Content Using LLMs

      By: Mengjie Cheng, Elie Ofek and Hema Yoganarasimhan
      We study how media firms can use LLMs to generate news content that aligns with multiple objectives—making content more engaging while maintaining a preferred level of polarization/slant consistent with the firm’s editorial policy. Using news articles from The New York... View Details
      Keywords: Large Language Models; Content Creation; Media; Polarization; Generative Ai; Direct Preference Optimization; AI and Machine Learning; News; Perspective; Digital Marketing; Policy; Media and Broadcasting Industry
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      Cheng, Mengjie, Elie Ofek, and Hema Yoganarasimhan. "Balancing Engagement and Polarization: Multi-Objective Alignment of News Content Using LLMs." Harvard Business School Working Paper, No. 25-051, April 2025.
      • April 2025
      • Teaching Note

      ZEISS: Commercializing Science

      By: Maria P. Roche
      Teaching Note for HBS Case No. 725-359. View Details
      Keywords: Business Model; Business Organization; Decisions; Business Strategy; Competition; Business History; Collaborative Innovation and Invention; Independent Innovation and Invention; Disruptive Innovation; Innovation and Management; Innovation Strategy; Technological Innovation; Growth and Development Strategy; Knowledge Sharing; Industry Growth; Monopoly; Organizational Culture; Supply Chain Management; Partners and Partnerships; Risk and Uncertainty; Adaptation; Commercialization; Resource Allocation; Corporate Strategy; Semiconductor Industry; Technology Industry; Germany; Europe
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      Roche, Maria P. "ZEISS: Commercializing Science." Harvard Business School Teaching Note 725-458, April 2025.
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