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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
- September 2025
- Article
Organizational Emplacement as a Response to Digital Threat: The Novel Resurgence of Independent Bookstores
By: Ryan Raffaelli and Ryann Noe
This study reveals how incumbent actors leverage physical place as source of differentiation in response to the threat of digital commoditization. Through a longitudinal, qualitative analysis of the U.S. independent bookselling industry from 1995 to 2019, we outline... View Details
- Fall 2025
- Article
The Rise of Remote Work: Evidence on Productivity and Preferences from Firm and Worker Surveys
By: Alexander Bartik, Zoë Cullen, Edward L. Glaeser, Michael Luca and Christopher Stanton
Drawing on surveys of small business owners and employees, we present three main findings about the evolution of remote work after the onset of COVID-19. First, uptake of remote work was abrupt and widespread in jobs suitable for telework according to the task-based... View Details
- August 2025
- Case
Must B Nutty?
By: Christina Wallace, Martha Hostetter and Alicia Dadlani
Veronica and Miguel Garza, siblings from a large Mexican-American family from Texas, founded a company in 2014 to sell the almond-flour tortillas Veronica had developed to fit her grain-free diet. Their company, Must Be Nutty, tapped into growing demand for... View Details
- 2025
- Working Paper
E-ledgers Carbon Accounting
By: Robert S. Kaplan and Karthik Ramanna
In prior publications, we introduced a global system of interconnected E-ledgers that produces—in as close to real time as practicable—accurate, comparable, and verifiable accounts of the cradle-to-gate (net) greenhouse-gas emissions in any product or service that... View Details
- 2025
- Book
Concise Business Guide to Climate Change: What Managers, Executives, and Students Need to Know
Understanding the ground rules of climate change for business.
Climate has changed the game for businesses around the world. With climate-related disasters costing billions in damages and public pressure rising, over a hundred nations joined... View Details
Climate has changed the game for businesses around the world. With climate-related disasters costing billions in damages and public pressure rising, over a hundred nations joined... View Details
- August 1, 2025
- Article
When to Innovate and When to Imitate
By: Felipe A. Csaszar, Rebecca Karp and Maria Roche
Innovation is often the gold standard for firms looking to grow profits and become leaders in their industries. But given the steep cost of failure, is a relentless pursuit of innovation always advisable? Or might there be some instances when imitation may be a better... View Details
- July 2025
- Technical Note
Note for the Rising Generation of Family Enterprises
By: Christina R. Wing and Kara A. Perusse
This note explores how Rising Gens prepare for stewardship: what they must learn, how they can grow, and what tools can support their development. Drawing from diverse family enterprise contexts, it maps the stages of Rising Gen engagement and highlights what enables... View Details
- July 2025
- Case
SecureID: Digital Disruptions of Smartcards in Africa
By: Ramon Casadesus-Masanell, Raffaella Sadun, Pippa Tubman Amerding and Namrata Arora
This case explores the strategic inflection point faced by Kofo Akinkugbe, founder and CEO of SecureID, a smartcard manufacturing company in Nigeria. With the rise of fintech and digital payment solutions threatening the dominance of physical cards, SecureID must... View Details
- July 2025
- Case
Insilico’s Rentosertib Dilemma: A Star in the Pipeline?
By: Michael Lingzhi Li, Brian Mao Fu and Billy Chan
In 2024, the AI biotech firm Insilico Medicine faced a pivotal decision about its new drug, Rentosertib. Discovered and designed using artificial intelligence to treat a lung disease, Rentosertib had successfully advanced to Phase II trials — a first in global... 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 2025
- Case
Mitsui & Co., Ltd.
By: Ramon Casadesus-Masanell and Akiko Saito
In 2025, Kenichi Hori, President and CEO of Mitsui & Co., Ltd.—one of Japan’s most prominent Sogo Shosha (investment and trading companies with sprawling global footprints)—reflected on the company’s record-breaking profits. Its operations spanned multiple... View Details
- July 2025
- Article
Economic Integration and the Transmission of Democracy
By: Marco Tabellini and Giacomo Magistretti
In this paper, we study the effects of economic integration with democratic partners on democracy. We assemble a large country-level panel dataset from 1960 to 2015, and exploit improvements in air, relative to sea, transportation to derive a time-varying instrument... View Details
- 2025
- Working Paper
How Does Wage Inequality Affect the Labor Movement
By: Barbara Biasi, Zoë B. Cullen, Julia H. Gilman and Nina Roussille
This paper provides causal evidence on how wage inequality among workers affects the labor movement using three complementary research designs: a vignette experiment with union organizers, a natural policy experiment that increased wage inequality among Wisconsin... View Details
- 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
Assessing the Offers for Seven & i Holdings
By: Benjamin C. Esty, Nobuo Sato and Akiko Kanno
In the fall of 2024, the board of Seven and i Holdings Company (7&i, the parent company of 7-Eleven convenience stores in the US, Japan, and other countries) received multiple offers to buy the company. Two successive (and unsolicited) offers came from Alimentation... View Details
Keywords: Corporate Governance; Valuation; Value Creation; Bids and Bidding; Financial Strategy; Negotiation Offer; Mergers and Acquisitions; Corporate Finance; Business Conglomerates; Leveraged Buyouts; Governing Rules, Regulations, and Reforms; Food and Beverage Industry; Food and Beverage Industry; Japan; Canada
- June 2025
- Case
Crossing Borders, Dividing Politics: U.S. Immigration Policy and Political Polarization
By: Marco Tabellini and Alexis Lefort
This case explores the history and political dynamics of U.S. immigration policy, focusing on its evolution from the 18th century to 2025. It traces key legislative milestones, such as the 1965 Immigration and Nationality Act, DACA, and the 2025 Laken Riley Act,... View Details
- June 2025
- Case
VC Exits in Africa: Knife Capital and Quicket
By: Paul A. Gompers, Emanuele Colonnelli, Maagatha Kalavadakken and Namrata Arora
Keet van Zyl and Eben van Heerden, co-founders of Knife Capital, face a critical decision point with their investment in Quicket, a prominent South African ticketing company. As the global ticketing industry recovers, they are exploring strategic exit options to... View Details
Keywords: Financial Services Industry
- June 2025
- Supplement
Transforming a Titan (B)
By: George Serafeim and Lena Duchene
After a global search the board appoints Marcel Cobuz—ex-LafargeHolcim executive with deep innovation experience—as TITAN’s first non-family CEO. Cobuz co-creates a four-pillar roadmap: sharpen the core cement portfolio, accelerate low-carbon products and aggregates,... View Details