
- 22 May 2020
- In Practice
Post-COVID Health Care: More Screens, Less Red Tape?
The coronavirus pandemic might lead to major changes in patient care, physician compensation, and regulation. Experts from Harvard Business School's Health Care Initiative share their predictions. Open for comment; 0 Comments.

- 27 Mar 2020
- Working Paper Summaries
Novel Risks
Companies can manage known risks by reducing their likelihood and impact. But such routine risk management often prevents them from recognizing and responding rapidly to novel risks, those not envisioned or seen before. Setting up teams, processes, and capabilities in advance for dealing with unexpected circumstances can protect against their severe consequences.

- 23 Jan 2020
- Research & Ideas
Businesses Need a 'Catalyst' to Make CSR Practices Stick
Despite best intentions, many corporate social responsibility programs fail. One answer: Companies need community partners to sustain work over the long term, says Robert Kaplan. Open for comment; 0 Comments.

- 04 Dec 2019
- Working Paper Summaries
Intelligent Design of Inclusive Growth Strategies
How companies, working with a catalyst, can redesign supply chains to achieve economic, environmental, and social returns.

- 20 Nov 2018
- Working Paper Summaries
Reverse the Curse of the Top-5
Scholars and those who evaluate them for promotion can overweight publications ranked in a discipline’s five top journals. This paper explains the origins of journal rankings, the errors and distortions when journal rankings are used to evaluate faculty research, how they inhibit innovative research on emerging practice issues, and possible reforms to reduce their perverse incentives.

- 24 Sep 2018
- Research & Ideas
How Cost Accounting is Improving Healthcare in Rural Haiti
The cost of healthcare in rural Haiti was found to vary widely, even inside the same health organization. A pioneering cost accounting system co-developed by Robert Kaplan was called in to determine the cause. Open for comment; 0 Comments.

- 23 Jul 2018
- Working Paper Summaries
The Creative Consulting Company
Management theories cannot be tested in laboratories; they must be applied, tested, and extended in real organizations. For this reason the most creative consulting companies balance conflicting demands between short‐term business development and long‐term knowledge creation.

- 07 Mar 2018
- Research & Ideas
Electronic Health Records Were Supposed to Cut Medical Costs. They Haven't.
Digitizing patient information promised to cut health care costs by driving down administrative expenses. So why can it cost a doctor more than $200 to process a single bill? New research by Robert Kaplan and colleagues. Open for comment; 0 Comments.
- 01 Mar 2017
- Research & Ideas
A Good Thing Happens When Doctors Start Talking to Their Patients
A longer visit with your doctor before a procedure can improve results and save money, according to Robert S. Kaplan. Open for comment; 0 Comments.

- 21 Mar 2016
- Working Paper Summaries
Risk Management―The Revealing Hand
This article explores the role, organization, and limitations of risk identification and risk management, especially in situations that are not amenable to quantitative risk modeling. It argues that firms can avoid the artificial choice between quantitative and qualitative risk management, allowing both to play important roles in surfacing and assessing risks. Managers can then make decisions and allocate resources to mitigate the risks in a cost-efficient and moral manner.

- 27 Dec 2014
- Working Paper Summaries
How Should We Pay for Health Care?
Improving provider incentives and reimbursement must become a central component in health care reform. Payments need to align with the value delivered to patients: better health outcomes delivered at lower costs. Today, however, deeply‐flawed reimbursement approaches actively discourage providers from delivering value to their patients. In this paper the authors argue that reimbursement through bundled payments is the only approach that aligns providers, payers, and suppliers in a healthy competition to increase patient value. The authors describe the principles of value‐based bundled payments, how such bundles should be constructed, and why they believe this reimbursement method best aligns everyone's interests around value. They show how recent improvements in measuring patient's outcomes and the cost of care are overcoming the past barriers to wider adoption of bundled payments. They conclude by describing how bundled payments can transform competition in health care, and the longer‐term implications for providers, payers, employers, and health care delivery systems. Key concepts include: A value‐based bundled payment is a single payment for treating a patient with a specific medical condition across a full cycle of care. A bundled payment should cover all the procedures, tests, drugs, devices, and services during inpatient, outpatient, and rehabilitative care for a patient's medical condition. The limited adoption of value‐based bundles to date has been caused by today's fragmented structure for delivering healthcare, and inadequate or non‐existent measurement of costs and outcomes at the medical‐condition level. Recent advances in value‐based healthcare delivery concepts set the stage for much more widespread adoption of value-based bundled payments. Closed for comment; 0 Comments.
- 20 May 2013
- Research & Ideas
The Long-Term Fix to US Competitiveness
Participants at a Harvard Business School event were urged by professors Michael Porter and Jan Rivkin to chart a new path forward to improve US competitiveness. Open for comment; 0 Comments.

- 09 Mar 2011
- Working Paper Summaries
Accounting Scholarship That Advances Professional Knowledge and Practice
Accounting scholars generally do a fine job of analyzing how we process accounting data, but they ought to spend more time looking at how that data is produced, says Harvard Business School professor Robert S. Kaplan. In this paper—in response to a newly minted professor who sought his advice—Kaplan reminds young scholars that accounting is more of a professional discipline than an academic subject. To that end, he advises them not just to teach their students the common body of accounting knowledge, but also to advance that body of knowledge by bridging the gap between scholarship and practice. Key concepts include: Accounting professors have a responsibility not just to dispense knowledge but also to advance it, especially in a time when the profession is changing rapidly. Risk management is a great issue for accounting academics to tackle. One, it is clearly relevant, due to the massive bank failures in the past few years. Two, it encompasses issues important to both academic study and professional practice-including reporting, disclosure, management control, and auditing. Young accounting professors should spend time teaching in executive education programs, which will give them an opportunity to get feedback from experienced professionals. Closed for comment; 0 Comments.

- 17 Mar 2010
- Working Paper Summaries
Conceptual Foundations of the Balanced Scorecard
This article documents the precursors of the Balanced Scorecard (BSC) strategic performance management tool and describes the evolution of the BSC since its introduction in 1992 in the Harvard Business Review. During the last 15 years, the BSC has been adopted by thousands of private, public, and nonprofit enterprises around the world. HBS professor Robert S. Kaplan, who created the concept and tool with David Norton, explains the roots and motivation for their original article as well as subsequent innovations that connect it to a larger management literature. Key concepts include: The BSC was not original for advocating that nonfinancial measures be used to motivate, measure, and evaluate company performance. Early pioneers included General Electric, Nobel Economics Laureate, Professor Herb Simon, at the Carnegie Institute of Technology (later Carnegie-Mellon University), and management theorist Peter Drucker in his now-classic book, The Practice of Management in the 1950s. The BSC differs from stakeholder theory by embedding stakeholder interests within a strategy framework. It also extends the economics-based agency theory by offering the instrumentation to guide a multi-period shareholder value creation process. The BSC continues to grow and evolve. Future developments will, for example, formally embed enterprise risk management into the strategy execution framework. Closed for comment; 0 Comments.
- 29 Jun 2009
- Sharpening Your Skills
Sharpening Your Skills: Leading Change
Nothing like a global recession to test your change-management skills. We dig deep into the Working Knowledge vault to learn about building a business in a down economy, motivating the troops, and other current topics. Closed for comment; 0 Comments.
- 09 Jun 2009
- Research Event
Business Summit: Enterprise Risk Management
Risk management is a key to sustained firm growth, says professor Robert S. Kaplan. Key ingredients to a successful risk management program include the proper culture, clear parameters, discipline, measurement, and accountability. Closed for comment; 0 Comments.
- 11 Aug 2008
- Research & Ideas
Strategy Execution and the Balanced Scorecard
Companies often manage strategy in fits and starts, with strategy execution lost along the way. A new book by Balanced Scorecard creators Robert S. Kaplan and David P. Norton aims to make strategy a continual process. Key concepts include: An excellent strategy often fades from memory as the organization tackles day-to-day operations issues. The operational plan and budget should be driven from the revenue targets in the strategic plan. The senior management team needs to have regular, probably monthly, meetings that focus only on strategy. The Office of Strategy Management is a small cadre of professionals that orchestrate strategy management processes for the executive team. Closed for comment; 0 Comments.
- 11 Apr 2007
- Research & Ideas
Adding Time to Activity-Based Costing
Determining a company's true costs and profitability has always been difficult, although advancements such as activity-based costing (ABC) have helped. In a new book, Professor Robert Kaplan and Acorn Systems' Steven Anderson offer a simplified system based on time-driven ABC that leverages existing enterprise resource planning systems. Key concepts include: The activity-based costing system developed in the 1980s fell out of favor for a number of reasons, including the need for lengthy employee interviews and surveys to collect data. The arrival of enterprise resource planning systems allows crucial data to be pumped automatically into a TDABC system. Managers must answer two questions to build an effective TDABC system: How much does it cost to supply resource capacity for each business process in our organization? How much resource capacity (time) is required to perform work for each of our company's transactions, products, and customers? Profit improvements of up to 2 percent of sales generally come in less than a year. Closed for comment; 0 Comments.

- 20 Dec 2006
- Working Paper Summaries
The Demise of Cost and Profit Centers
The Balanced Scorecard has proven to be a general and powerful performance management framework for units previously treated as profit and investment centers. The management control literature, however, identifies other organizational forms for decentralized units, including standard cost centers, revenue centers, and support units treated as discretionary expense centers. Starting from the example of a classic teaching case, Empire Glass Company, Kaplan explains how strategy maps and the Balanced Scorecard transform cost, revenue, and discretionary expense centers into strategic business units in their own right. Key concepts include: The foundation of management control systems has been enhanced by applying strategy maps and Balanced Scorecards to motivate, align, and evaluate the performance of diverse organizational units. The leading paradigm of organizational structure and control of just a generation ago—based on cost, profit, investment, revenue, and discretionary expense centers—is replaced by a framework in which every organizational unit can be considered a strategic business unit. Closed for comment; 0 Comments.
The Harvard Business School Faculty Summer Reader 2020
Harvard Business School faculty are both voracious book readers and frequent book authors. Here is what they are reading this summer, and what they have written over the last year. Open for comment; 0 Comments.