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Strategy

Strategy

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    • September 2025
    • Case

    BairesDev: Culture and Growth

    By: Raffaella Sadun, Jorge Tamayo and Karina Souza

    In February 2025, Nacho de Marco, CEO of BairesDev, the nearshoring tech company founded in Buenos Aires, Argentina, was planning the company’s next growth phase. After ten years of organic expansion, the COVID-19 pandemic had validated BairesDev’s fully remote model and fueled its rapid scale-up, growing from a 500-person team to a talent pool of 4,000 people across 50 countries. By 2025, the company aimed to double its workforce within five years, but this leap would put its culture to the test. While BairesDev remained committed to attracting the “top 1% talent,” employee engagement metrics were steadily declining. Did the company’s purpose-driven culture need to evolve to support further growth? Moreover, would its remote-only model remain sustainable under a shifting business strategy?

    • September 2025
    • Case

    BairesDev: Culture and Growth

    By: Raffaella Sadun, Jorge Tamayo and Karina Souza

    In February 2025, Nacho de Marco, CEO of BairesDev, the nearshoring tech company founded in Buenos Aires, Argentina, was planning the company’s next growth phase. After ten years of organic expansion, the COVID-19 pandemic had validated BairesDev’s fully remote model and fueled its rapid scale-up, growing from a 500-person team to a talent pool of...

    • September–October 2025
    • Article

    The Founder's Final Act: How to Hand Over Ownership—and Burnish Your Legacy

    By: Josh Baron, Ben Francois, Tony Guidotti and Nien-hê Hsieh

    As they approach retirement, company founders face a critical choice: Who will own their business next? That decision will reverberate for years, affecting not only them and their family but all the people whose lives are touched by the company. Though it can cement or undo an entrepreneur’s legacy, many founders postpone or avoid making it. And down the road that can lead to enormous tax consequences, family or employee infighting, and instability that disrupts or destroys the business. This article describes a structured process entrepreneurs can follow to choose the owner who will come after them, drawing on the experiences of the founders of Patagonia, John Lewis, Vanguard, Rolex, and more. The first step is to think about the outcomes they want for themselves, their family, their employees, their business partners, and their community and prioritize them.

    • September–October 2025
    • Article

    The Founder's Final Act: How to Hand Over Ownership—and Burnish Your Legacy

    By: Josh Baron, Ben Francois, Tony Guidotti and Nien-hê Hsieh

    As they approach retirement, company founders face a critical choice: Who will own their business next? That decision will reverberate for years, affecting not only them and their family but all the people whose lives are touched by the company. Though it can cement or undo an entrepreneur’s legacy, many founders postpone or avoid making it. And...

    • August 2025
    • Case

    The Rise of Advanced Packaging: Kulicke & Soffa's Strategic Crossroads

    By: Maria P. Roche, Ram Mudambi and Solon Moreira

    In early 2025, semiconductor equipment maker Kulicke & Soffa (K&S) confronts a pivotal strategic decision. As Moore’s Law slows and chiplet-based architectures take center stage, advanced packaging has become the industry's new frontier. K&S, long dominant in wire bonding, must choose between investing in cutting-edge technologies like hybrid bonding to serve top-tier customers, or reinforcing its leadership in the mid-market with proven, high-volume solutions. The case explores the transformation of the semiconductor value chain, the strategic implications of architectural innovation, and how a legacy firm should navigate a technology-driven shift that could either elevate or marginalize its future role.

    • August 2025
    • Case

    The Rise of Advanced Packaging: Kulicke & Soffa's Strategic Crossroads

    By: Maria P. Roche, Ram Mudambi and Solon Moreira

    In early 2025, semiconductor equipment maker Kulicke & Soffa (K&S) confronts a pivotal strategic decision. As Moore’s Law slows and chiplet-based architectures take center stage, advanced packaging has become the industry's new frontier. K&S, long dominant in wire bonding, must choose between investing in cutting-edge technologies like hybrid...

About the Unit

The Strategy unit studies firms as competitors in an economic landscape. Key issues include: the development and effectiveness of firm strategy at both a business and corporate level; the analysis of the competitive environment; and the sustainability of strategy over time.

Our research, course development, and teaching draws on multiple disciplines, including economics, sociology, and political science, and focuses on both domestic and global competition. The objective of the work is to generate findings and develop concepts that will help managers improve their strategic decisions while advancing the state of knowledge in the academic study of strategy and related disciplines.

Recent Publications

BairesDev: Culture and Growth

By: Raffaella Sadun, Jorge Tamayo and Karina Souza
  • September 2025 |
  • Case |
  • Faculty Research
In February 2025, Nacho de Marco, CEO of BairesDev, the nearshoring tech company founded in Buenos Aires, Argentina, was planning the company’s next growth phase. After ten years of organic expansion, the COVID-19 pandemic had validated BairesDev’s fully remote model and fueled its rapid scale-up, growing from a 500-person team to a talent pool of 4,000 people across 50 countries. By 2025, the company aimed to double its workforce within five years, but this leap would put its culture to the test. While BairesDev remained committed to attracting the “top 1% talent,” employee engagement metrics were steadily declining. Did the company’s purpose-driven culture need to evolve to support further growth? Moreover, would its remote-only model remain sustainable under a shifting business strategy?
Keywords: Business Growth and Maturation; Business Model; Business Organization; Transformation; Communication Strategy; Talent and Talent Management; Cross-Cultural and Cross-Border Issues; Retention; Digital Platforms; Human Capital; Leadership; Growth and Development Strategy; Growth Management; Management Teams; Managerial Roles; Organizational Culture; Performance Productivity; Problems and Challenges; Motivation and Incentives; Business Strategy
Citation
Educators
Related
Sadun, Raffaella, Jorge Tamayo, and Karina Souza. "BairesDev: Culture and Growth." Harvard Business School Case 726-382, September 2025.

The Founder's Final Act: How to Hand Over Ownership—and Burnish Your Legacy

By: Josh Baron, Ben Francois, Tony Guidotti and Nien-hê Hsieh
  • September–October 2025 |
  • Article |
  • Harvard Business Review
As they approach retirement, company founders face a critical choice: Who will own their business next? That decision will reverberate for years, affecting not only them and their family but all the people whose lives are touched by the company. Though it can cement or undo an entrepreneur’s legacy, many founders postpone or avoid making it. And down the road that can lead to enormous tax consequences, family or employee infighting, and instability that disrupts or destroys the business. This article describes a structured process entrepreneurs can follow to choose the owner who will come after them, drawing on the experiences of the founders of Patagonia, John Lewis, Vanguard, Rolex, and more. The first step is to think about the outcomes they want for themselves, their family, their employees, their business partners, and their community and prioritize them.
Keywords: Management Succession; Ownership; Entrepreneurship; Family Business
Citation
Find at Harvard
Read Now
Purchase
Related
Baron, Josh, Ben Francois, Tony Guidotti, and Nien-hê Hsieh. "The Founder's Final Act: How to Hand Over Ownership—and Burnish Your Legacy." Harvard Business Review 103, no. 5 (September–October 2025): 86–94.

AI Wars in 2025 Unit Economics Analysis

By: Andy Wu
  • August 2025 |
  • Supplement |
  • Faculty Research
Citation
Purchase
Related
Wu, Andy. "AI Wars in 2025 Unit Economics Analysis." Harvard Business School Spreadsheet Supplement 726-851, August 2025.

The Rise of Advanced Packaging: Kulicke & Soffa's Strategic Crossroads

By: Maria P. Roche, Ram Mudambi and Solon Moreira
  • August 2025 |
  • Case |
  • Faculty Research
In early 2025, semiconductor equipment maker Kulicke & Soffa (K&S) confronts a pivotal strategic decision. As Moore’s Law slows and chiplet-based architectures take center stage, advanced packaging has become the industry's new frontier. K&S, long dominant in wire bonding, must choose between investing in cutting-edge technologies like hybrid bonding to serve top-tier customers, or reinforcing its leadership in the mid-market with proven, high-volume solutions. The case explores the transformation of the semiconductor value chain, the strategic implications of architectural innovation, and how a legacy firm should navigate a technology-driven shift that could either elevate or marginalize its future role.
Keywords: Competitive Strategy; Innovation Strategy; Supply Chain; Disruption; Decision Choices and Conditions; Product Development; Investment; Technological Innovation; Industry Growth; Semiconductor Industry; Manufacturing Industry; Computer Industry; Consumer Products Industry; Auto Industry; Information Technology Industry; Technology Industry; Telecommunications Industry; Singapore; United States; China; South Korea; Taiwan; Japan
Citation
Educators
Related
Roche, Maria P., Ram Mudambi, and Solon Moreira. "The Rise of Advanced Packaging: Kulicke & Soffa's Strategic Crossroads." Harvard Business School Case 726-371, August 2025.

Accelerating AI Adoption in the U.S. Air Force

By: Maria Roche
  • August 2025 |
  • Supplement |
  • Faculty Research
PowerPoint Supplement for HBS Case No. 723-429.
Keywords: Technological Innovation; Organizational Design; AI and Machine Learning; Adoption; Technology Adoption; United States
Citation
Purchase
Related
Roche, Maria. "Accelerating AI Adoption in the U.S. Air Force." Harvard Business School PowerPoint Supplement 726-375, August 2025.

ZEISS: Commercializing Science

By: Maria Roche
  • August 2025 |
  • Supplement |
  • Faculty Research
PowerPoint Supplement for HBS Case No. 725-359.
Keywords: Business Model; Business Organization; 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
Citation
Related
Roche, Maria. "ZEISS: Commercializing Science." Harvard Business School PowerPoint Supplement 726-377, August 2025.

Golden Goose: Reshaping Luxury

By: Juan Alcacer and Alexandre Daillance
  • August 2025 |
  • Case |
  • Faculty Research
In 2025, Golden Goose, an Italian luxury brand renowned for its handcrafted, intentionally distressed sneakers, is at a pivotal crossroads. Under the leadership of CEO Silvio Campara, the brand has evolved from a niche footwear label into a global presence, generating over $650 million in revenue and garnering a devoted customer base. The company's innovative Co-Creation model, commitment to craftsmanship, and emotionally resonant branding have set it apart in the competitive luxury market. Now, Campara must decide how to drive Golden Goose toward the next phase of growth. Should the company expand its core sneaker offerings and enhance in-store services such as Co-Creation? Should it double down on its growing ready-to-wear and accessories lines to become a holistic lifestyle brand? Or should it accelerate geographic expansion into emerging luxury markets? The case invites students to assess these strategic options, grounded in the company's unique value proposition, evolving customer base, and the competitive dynamics of the luxury and sneaker industries.
Keywords: Strategy; Marketing; Fashion Industry; Italy
Citation
Educators
Related
Alcacer, Juan, and Alexandre Daillance. "Golden Goose: Reshaping Luxury." Harvard Business School Case 726-404, August 2025.

Strategy as Core Guidance

By: Eric Van den Steen
  • August 2025 |
  • Technical Note |
  • Faculty Research
This note gives managers a concrete perspective on what ‘a strategy’ really is, what makes a decision ‘strategic,’ and what ‘strategic thinking’ means. It also gives them practical frameworks to assess whether some set of decisions is really a strategy and how to assess a strategy’s effectiveness. It finally also gives managers a starting point for developing strategy in the form of the ‘4+3 Elements.’ The note builds on the theory of ‘strategy as core guidance.’ (This is an rewrite of “Strategy and Strategic Decisions” HBS 712-500.)
Keywords: Strategic Alignment; Strategy Definition; Strategy And Execution; Strategy Test; Strategy; Strategic Planning; Decision Making
Citation
Educators
Related
Van den Steen, Eric. "Strategy as Core Guidance." Harvard Business School Technical Note 726-368, August 2025.
More Publications

In the News

    • 03 Sep 2025
    • New York Times

    The Message for Big Tech in the Google Ruling: Play Nice, but Play On

    Re: David Yoffie
    • 03 Sep 2025
    • Marketplace

    Can You Buy Wins in Sports or the AI Talent Wars?

    Re: Ashish Nanda
    • 31 Aug 2025

    The Aspire Leaders Program: From Harvard Inspiration To Global Movement

    Re: Karim Lakhani & Tarun Khanna
→More Faculty News

HBS Working Knowledge

    • 01 Nov 2024

    Layoffs Surging in a Strong Economy? Advice for Navigating Uncertain Times

    by Rachel Layne
    • 21 Oct 2024

    What Happens in Vegas Could Shape the Metaverse

    Re: Andy Wu
    • 17 Sep 2024

    Advice for the New CEO: Talk to Your Employees Early and Often

    Re: Raffaella Sadun
→More Working Knowledge Articles

Harvard Business Publishing

    • September–October 2025
    • Article

    The Founder's Final Act: How to Hand Over Ownership—and Burnish Your Legacy

    By: Josh Baron, Ben Francois, Tony Guidotti and Nien-hê Hsieh
    • July 2025 (Revised August 2025)
    • Case

    Elon Musk, 2025: The Master of Big Bets?

    By: David B. Yoffie
    • 2021
    • Book

    Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise

    By: Josh Baron and Rob Lachenauer
→More Harvard Business Publishing

Seminars & Conferences

Sep 18
  • 18 Sep 2025

John de Figueiredo, Duke University School of Law

STRAT Seminar
→More Seminars & Conferences

Faculty Positions

Harvard Business School seeks candidates in all fields for full time positions. Candidates with outstanding records in PhD or DBA programs are encouraged to apply.
→Learn More

Contact Information

Strategy Unit
Harvard Business School
Morgan Hall
Soldiers Field
Boston, MA 02163
Strategy@hbs.edu

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Campus Map
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Soldiers Field
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