• March–April 2025
• Article

Companies need digital technologies in an omni-channel buying world where online and in-person interactions are complements, not either/or substitutes. Multi-channel hybrid sales solutions are required, but what are the key requirements for using the available technology for competitive advantage, rather than another cost of doing business? Based on work with companies, we see lessons from firms dealing with a humble but pervasive retail outlet: convenience stores and small eating/drinking venues. The U.S. has one such outlet for every 2,200 people, and 8 of 10 Americans visit weekly one or more of 150,000 convenience stores. The channel is even more important in other countries. In Mexico there are 800,000 outlets (1 for every 160 people), and in Europe the ratios are similar (e.g., Italy has about 350,000 small restaurants, bars, and hotels). This is a fragmented and high cost-to-serve channel, but for CPG (consumer packaged goods) companies these outlets generate up to 50% of their revenue in many countries. Sales productivity is key here, and this article discusses three required capabilities and examples of each: understanding the role of channel partners in the consumer buying journey and your sales approach; using timely data for relevant insights and overcoming common barriers to getting that data; and managing ecosystem changes and trade-offs.

• March 2025
• Case

Founded in 2017, Niramai developed Thermalytix, a breast cancer screening tool. Thermalytix used a high-resolution thermal sensing device and machine learning algorithms to analyze thermal images and detect tumors. Its patented solution leveraged big data analytics, AI, and ML for reliable, early, and accurate breast cancer screening. Early clinical trials showed that the solution was equal to or, in some instances, more accurate than mammography available in India. The team was elated that they had developed an effective, low-cost, easier-to-use, non-invasive, and less painful solution for patients. As Manjunath considered the next phase of Niramai’s growth, she wondered if it was time to raise another round of funds and conduct a new, comprehensive clinical study. Should the trial be conducted in the U.S., where it would be significantly more expensive but with the possibility of an exponentially higher payout if the trials were successful? Or should they raise a smaller round now, do a larger trial in a populous developing country such as Indonesia, and focus on lower-to-middle-income countries?

• 2025
• Working Paper

We measure the real effects of private equity buyouts on worker outcomes by building a new database that links transactions to matched employer-employee data in the United States. To guide our empirical analysis, we derive testable implications from three theories in which private equity managers alter worker outcomes: (1) exertion of monopsony power, (2) breach of trust of implicit contracts with workers, and (3) efficient reallocation of workers across plants. We do not find any evidence that private equity-backed firms vary wages and employment based on local labor market power proxies. Moreover, layoffs and wage losses are very similar across occupation and employee characteristics, suggesting a rejection of the breach of trust hypothesis. We find strong evidence that private equity managers downsize less productive plants relative to productive plants while simultaneously reallocating high-wage workers to more productive plants. We conclude that post-buyout employment and wage dynamics are consistent with professional investors providing incentives to increase productivity and monitor the companies in which they invest.