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- September–October 2025
- Article
How Digital Integration Is Reconfiguring Value Chains
By: Antonio Moreno
While companies have been “unbundling” their operations and outsourcing tasks for decades, advances in IT are now helping them take that strategy to a whole new level. These technologies make it possible to digitally integrate workflows across organizations, letting... View Details
- August 2025
- Case
Meta and the Superintelligence Talent Race
By: Boris Groysberg and Sarah L. Abbott
In June 2025, Meta CEO Mark Zuckerberg upped the ante in the ongoing AI talent wars. Some analysts praised Zuckerberg’s aggressive approach to building Meta's AI capabilities, while others pointed to the high costs this strategy entailed and questioned how effectively... View Details
Keywords: AI; Artificial Intelligence; Machine Learning; Talent Acquisition; Hiring; Technology; Metaverse; Competition; Compensation; Innovation; Talent Development; Competing To Win; Competitive Dynamics; AI and Machine Learning; Talent and Talent Management; Recruitment; Compensation and Benefits; Competency and Skills; Competitive Strategy; Technological Innovation; Technology Industry
- July–August 2025
- Article
Case Study: Do We Reskill or Replace Our Workforce?
By: William Kerr
To remain competitive in the internet-of-things era, should the CEO of SolidTech Innovations, a fictional elevator company, invest a lot of money in reskilling its entire staff? The industry is moving from hardware to software in the form of smart, connected elevators.... View Details
- July 2025
- Teaching Note
Hyperscaling Dreams: Ualá's Path from Startup to Fintech Champion
By: Juan Alcácer and Manuel Franck
Teaching Note for HBS Case No. 725-408. Ualá, a fintech startup founded in Argentina in 2017 by Pierpaolo Barbieri, aimed to increase financial inclusion in Latin America through a digital platform linked to a prepaid card. After rapid success in Argentina, it expanded... View Details
- July 2025
- Case
ICARE: Frontline Leadership at Michelin
By: Hubert Joly and Emilie Billaud
In 2025, Michelin CEO Florent Menegaux reflected on the company’s transformation since taking the helm in 2019. Amid a volatile global landscape marked by inflation, rising competition, and geopolitical and sustainability pressures, Michelin had achieved strong... View Details
Keywords: Human Capital; Transformation; Management Practices and Processes; Managerial Roles; Organizational Culture; Leadership; Competency and Skills; Global Strategy; Multinational Firms and Management; Human Resources; Compensation and Benefits; Recruitment; Retention; Employee Relationship Management; Working Conditions; Leading Change; Growth and Development Strategy; Groups and Teams; Motivation and Incentives; Well-being; Auto Industry; Manufacturing Industry; Europe; China; United States
- July–August 2025
- Article
Passion Penalizes Women and Advantages (Unexceptional) Men in High-Potential Designations
By: Joyce He, Jon M. Jachimowicz and Celia Moore
High potential programs offer a swift path up the corporate ladder for those who secure a place on them. However, the evaluation of “potential” occurs under considerable uncertainty, creating fertile ground for gender bias. We document that men are more likely than... View Details
- June 2025
- Case
The Value of Art on Campus as a Vision for Educating Leaders Who Make a Difference
By: James Riley, Alexis Lefort and Helen Yap
This case explores the debate surrounding the installation of a large contemporary sculpture, Inés by Jaume Plensa, at Harvard Business School under the leadership of Dean Nitin Nohria. Set in 2016, the case examines the role of physical campus design and public art in... View Details
- June 2025
- Case
Zerodha
By: Das Narayandas and Kairavi Dey
Zerodha Broking Pvt. Ltd. (Zerodha) was among India's largest online broking platforms. Nithin and Nikhil Kamath started Zerodha to empower retail investors and remove the hurdles to investing in stocks. The company pioneered tech-first discount broking, charging... View Details
Keywords: Financial Services Industry
- June 2025
- Case
Scale AI Scales Up
By: Boris Groysberg and Sarah L. Abbott
Scale AI, the data labeling and AI infrastructure company, had grown rapidly since it was founded in 2016; however, as Scale’s generative AI business was taking off, Alexandr Wang, Scale’s founder and CEO, became concerned that Scale was slowing down. Wang and the... View Details
Keywords: Technology And Innovation Management; Entrepreneur; Managing Growth; Hiring; Generative Ai; Data Labeling; Scale; AI and Machine Learning; Entrepreneurship; Talent and Talent Management; Growth Management; Leadership; Organizational Culture; Business Startups; Selection and Staffing; Technology Industry; United States
- June 10, 2025
- Article
Research: When Help Isn’t Helpful
By: Colin M. Fisher, Julianna Pillemer and Teresa M. Amabile
Asking for and receiving help at work can boost employees’ creativity, help them learn new skills, and strengthen their interpersonal ties. Yet a years-long study at a global design consultancy found that even in organizations with strong helping cultures, a... View Details
- June 2025
- Case
Vail Resorts: Responding to Activist Pressure (A)
By: Benjamin C. Esty and Edward A. Meyer
On January 27, 2025, the head of a relatively small hedge fund named Late Apex Partners sent a highly critical letter to the board of directors of Vail Resorts, the world’s largest ski resort operator. In his letter, and the 88-slide presentation that accompanied his... View Details
Keywords: Corporate Finance; Capital Budgeting; Corporate Governance; Competitive Advantage; Competitive Strategy; Leading Change; Valuation; Investment Activism; Climate Change; Management Succession; Financial Management; Risk Management; Business and Shareholder Relations; Sports Industry; Entertainment and Recreation Industry; Travel Industry; United States; Australia; Canada
- June 2025
- Article
Who Benefits from Online Gig Economy Platforms?
By: Christopher T. Stanton and Catherine Thomas
Online labor platforms for short-term, remote work have many more job seekers than available jobs. Despite their relative abundance, workers capture a substantial share of the surplus from transactions. We draw this conclusion from demand estimates that imply workers'... View Details
- 2025
- Working Paper
Data-driven Technologies and Local Information Advantages in Small Business Lending
By: Wilbur Chen, Jung Koo Kang and Aditya Mohan
We investigate whether banks' adoption of data-driven technologies influences competitive dynamics in local small business lending by diminishing the information advantages traditionally held by local banks. Using local newspaper closures as an adverse shock to the... View Details
- May 2025 (Revised July 2025)
- Case
Mission First at Coinbase
By: Charles C.Y. Wang and Brian K. Baik
This case examines Coinbase’s two major organizational transformations in 2020 amid significant market volatility and social upheaval. As the leading U.S. cryptocurrency exchange prepared for its landmark IPO, CEO Brian Armstrong made two controversial decisions:... View Details
- May 2025
- Article
Imagining the Future: Memory, Simulation and Beliefs
By: Pedro Bordalo, Giovanni Burro, Katherine B. Coffman, Nicola Gennaioli and Andrei Shleifer
How do people form beliefs about novel risks, with which they have little or no experience? Motivated by survey data on beliefs about Covid we collected in 2020, we build a model based on the psychology of selective memory. When a person thinks about an event,... View Details
- May–June 2025
- Article
Slowly Varying Regression Under Sparsity
By: Dimitris Bertsimas, Vassilis Digalakis Jr, Michael Lingzhi Li and Omar Skali Lami
We consider the problem of parameter estimation in slowly varying regression models with sparsity constraints. We formulate the problem as a mixed integer optimization problem and demonstrate that it can be reformulated exactly as a binary convex optimization problem... View Details
- April 2025
- Case
Thrivent: From Insurance Agents to Financial Advisors
By: Hubert Joly, Leonard A. Schlesinger and Tom Quinn
Thrivent, a midwestern financial services company with a centuries-long history rooted in Lutheranism, had reached $10 billion in revenue mostly by selling life insurance. In the 2020s, however, CEO Terry Rasmussen began a transformation process centered around the... View Details
Keywords: Change Management; Transformation; Talent and Talent Management; Customer Focus and Relationships; Customer Value and Value Chain; Forecasting and Prediction; Employee Relationship Management; Retention; Selection and Staffing; Job Design and Levels; Human Capital; Leading Change; Mission and Purpose; Organizational Change and Adaptation; Organizational Culture; Insurance Industry; Financial Services Industry; United States; Minneapolis
- April 2025
- Teaching Note
Tabby: Winning Customers' Digital Wallets
By: Eva Ascarza
Teaching Note for HBS Case No. 524-056. Tabby, a Saudi-based fintech founded in 2019, rapidly became one of the MENA region’s first unicorns by offering buy-now-pay-later (BNPL) services with a unique twist: instead of charging end consumers, it partnered with... View Details
- March–April 2025
- Article
Strategy in an Era of Abundant Expertise: How to Thrive When AI Makes Knowledge and Know-How Cheaper and Easier to Access
By: Bobby Yerramilli-Rao, John Corwin, Yang Li and Karim R. Lakhani
The AI era is in its early stages, and the technology is evolving extremely quickly. Providers are rapidly introducing AI "copilots," "bots," and "assistants" into applications to augment employees' workflows. Examples include GitHub Copilot for coding, ServiceNow... View Details
- 2025
- Working Paper
Prices and Concentration: A U-shape? Theory and Evidence from Renewables
By: Michele Fioretti, Junnan He and Jorge Tamayo
We show that when firms compete via supply functions, transferring high-cost
capacity to the largest, most efficient firm—thereby diversifying its production technologies
while increasing concentration—can lower prices by prompting the leader
to expand output and... View Details