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Ratcheting, Competition, and the Diffusion of Technological Change: The Case of Televisions Under an Energy Efficiency Program

by Tomomichi Amano and Hiroshi Ohashi

The diffusion of innovation in many markets is greatly influenced by the presence of policy intervention. Importantly, diffusion is further affected by the fact that firms often also have a say in affecting the implementation of policy. This analysis of the Japanese TV market suggests that firms may delay the introduction of more high quality products when there are across-the-board policy standards.

Should US Companies Still Care About the Paris Climate Change Agreement?

Re: Vincent Pons

American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; Comment(s) posted.

Some Facts of High-Tech Patenting

by Michael Webb, Nick Short, Nicholas Bloom, and Josh Lerner

This study details the growth of patenting in software, cloud computing, artificial intelligence, and related technologies in the twenty-first century, and the continuing dominance of inventors in large US, Japanese, and Korean companies. Researchers still need to understand the impact of such trends on social welfare more generally.

How to Monetize Happiness

Re: Ethan S. Bernstein

Is there a business model around happiness? Hitachi believes that a happy employee is a productive one, and is investing in "happiness sensors" to prove the connection. Ethan Bernstein explains why in this podcast. Open for comment; Comment(s) posted.

Language and Globalization: The Mandate to Speak English at Rakuten

Re: Tsedal Neeley

Japan’s largest online retailer, Rakuten, is rapidly expanding into global markets and requiring all employees, where ever they are located, to conduct business in English. Tsedal Neeley discusses the strong connection between language and globalization. Open for comment; Comment(s) posted.

Using Language to Build a Global Company

by Sean Silverthorne

In her new book The Language of Global Success, Tsedal Neeley describes Japanese tech giant Rakuten's five-year effort to adopt English as its lingua franca of business. Open for comment; Comment(s) posted.

Governance Through Shame and Aspiration: Index Creation and Corporate Behavior in Japan

by Akash Chattopadhyay, Matthew D. Shaffer, and Charles C.Y. Wang

By exploiting the unique features of Japan’s JPX-Nikkei 400 index, this paper examines how membership in a stock index serves as a source of prestige that can motivate managers and influence corporate governance norms. Findings are important for understanding non-pecuniary mechanisms to induce meaningful changes in corporate behavior.

Decision-Making by Precedent and the Founding of American Honda (1948–1974)

by Ramon Casadesus-Masanell and John Heilbron

While the production and distribution of goods in a firm is commonly overseen by a hierarchy of management, decision-making within these organizations is often frenetic. This paper demonstrates empirically that the president of American Honda made important strategic decisions by following the precedent set by his boss and former mentor, Honda’s chief strategist, Takeo Fujisawa—by making careful, educated guesses about how Fujisawa would have addressed similar issues. This study identifies the guiding influence of historical precedent and hypothesized intentions and emphasizes the social character of strategic decision-making.

The ‘Promotion’ That Makes You Feel Bad

by Roberta Holland

Receiving an unexpected professional status bump doesn't always feel good, especially if it wasn't really earned. Companies need to be aware of potential problems with unearned status gain, and be ready with solutions, says Tsedal Neeley. Open for comment; 2 Comment(s) posted.

Kids Benefit From Having a Working Mom

by Carmen Nobel

Women whose moms worked outside the home are more likely to have jobs themselves, are more likely to hold supervisory responsibility at those jobs, and earn higher wages than women whose mothers stayed home full time, according to research by Kathleen McGinn and colleagues. Open for comment; 33 Comment(s) posted.

Learning From Japan’s Remarkable Disaster Recovery

by Sean Silverthorne

Harvard Business School students make an annual trek to businesses in the Japanese area wrecked by the 2011 earthquake and tsunami. Their objectives: learn all they can about human resilience and share their own management knowledge. Closed for comment; 0 Comment(s) posted.

Separating Homophily and Peer Influence with Latent Space

by Joseph P. Davin, Sunil Gupta & Mikołaj Jan Piskorski

People are often more willing to try new things when they see others doing so. This phenomenon, which academics call "social influence", has a profound impact on many aspects of customer decision-making and marketing. For example, social influence affects consumers' willingness to take up new technologies, adopt and use social networks, and ask their physicians for particular prescription medicines. Marketers are thus eager to understand how and to what extent social influence affects people's consumption decisions. To date, however, it has been difficult to pinpoint the effects of social influence, as researchers have struggled to separate it from a simple fact that like-minded people tend to enjoy the same things, per the adage "Birds of a feather flock together." The authors use the field of mobile app adoption in Japan to examine this problem. Japan is an ideal testing ground because approximately 80-85 percent of all page views occur through mobile. In addition, mobile apps are often social in nature, especially those that are linked to a social network platform. The authors devise a new method to assess social influence by controlling for other factors that usually complicate the picture. Overall, the findings show that peer usage accounts for more than a quarter of all mobile app adoptions. The paper also highlights a risk that firms could overestimate social influence by 40 percent on average, even up to 100 percent in certain cases. The authors' method helps overcome this risk. Key concepts include: Social influence is clearly important in customer decision making and marketing. It has a profound impact on the adoption of new technologies, social network usage and adoption, eCommerce, new prescriptions of pharmaceutical drugs, ad effectiveness, group decision making, and customer retention. Using a new approach, this paper documents the impact of peer behavior on the adoption of mobile apps in a social network. Results show that peers drive more than a quarter of all mobile app adoptions. Results also show that firms risk overestimating the impact of social influence by 40% on average, even up to 100% in certain cases. The authors' method helps overcome this risk. Closed for comment; 0 Comment(s) posted.

How Major League Baseball Clubs Have Commercialized Their Investment in Japanese Top Stars

by Isao Okada & Stephen A. Greyser

Japanese money flowing from broadcasting rights, sponsorships, and merchandise contributes substantially to the prosperity of Major League Baseball (MLB) in America. This market growth depends on wide exposure of and good performance by Japanese major leaguers. Acquiring and signing these stars can become a passport to get in touch with the Japanese market directly. The authors examine how the MLB clubs have tried to commercialize their investment in Japanese top stars and assesses whether the clubs have succeeded. Seven factors attract revenues from Japanese companies and fans: pitcher or position player, player's popularity, non-stop flights from Japan, distance from Japan, non-sport tourist attractions in a city, size of Japanese community in the city, and player's and team's performance. The most important factor, however, is the player's talent and popularity in terms of performance in both Japan and the US and his media exposure in Japan including endorsement contracts. Key concepts include: In terms of attracting Japanese spectators and corporate sponsors, signing a position player has a clear advantage for MLB clubs compared to signing a pitcher. High popularity for each player is a prerequisite condition for success in attracting revenues from Japanese companies and fans. In terms of attracting spectators from Japan, there is a presumed advantage for cities that have non-stop flights from Japan. However, it is difficult to estimate how big an impact direct flights have. When Japanese travelers whose prime interest is to see a MLB game plan to visit the US, distance from Japan affects somewhat their willingness to make the trip. When Japanese tourists choose a destination to see an MLB game in the US, attraction points other than MLB ballparks are influential, unless the tourists are solely fans of a specific player. The larger the local Japanese community, the larger the opportunity for a team to attract people to the ballpark for a Japanese star. If a Japanese major leaguer does not perform well in the MLB level, he could lose his luster even if he was a top player and very popular in Japan. Closed for comment; 0 Comment(s) posted.

What Wall Street Doesn’t Understand About International Trade

by Carmen Nobel

Firms that correlate their international trading activity with the local ethnic community significantly outperform those that don't, according to new research by Lauren H. Cohen, Christopher J. Malloy, and Umit G. Gurun. Closed for comment; 4 Comment(s) posted.

Historical Trajectories and Corporate Competences in Wind Energy

by Geoffrey Jones & Loubna Bouamane

Analyzing developments in the wind turbine business over more than a century, Geoffrey Jones and Loubna Bouamane argue that public policy has been a key variable in the spread of wind energy since the 1980s, but that public policy was more of a problem than a facilitator in the earlier history of the industry. Geography has mattered to some extent, also: Both in the United States and Denmark, the existence of rural areas not supplied by electricity provided the initial stimulus to entrepreneurs and innovators. Building firm-level capabilities has been essential in an industry which has been both technically difficult and vulnerable to policy shifts. Key concepts include: Firms from Denmark have been unusually prominent throughout the history of the wind energy business. The basis of the competitive Danish industry was laid without support or even encouragement from its government. US-based firms have also been regularly found among the leading wind energy companies. But their relative importance varied considerably over time, has rarely reflected the overall importance of the U.S. market, and has involved a changing cast of actual firms. German and Spanish, and more recently Indian and Chinese firms, have emerged to become amongst the largest turbine manufacturers in the industry. The most striking change over the last decade has been in the competitive landscape. Engineering powerhouses, such as GE and Siemens, and wholly or partly state-owned Chinese firms with low-cost bases, are now prominent actors in this industry. Closed for comment; 0 Comment(s) posted.

Japan Disaster Shakes Up Supply-Chain Strategies

by Dennis Fisher

The recent natural disaster in Japan brought to light the fragile nature of the global supply chain. Professor Willy Shih discusses how companies should be thinking about their supply-chain strategy now. Closed for comment; 16 Comment(s) posted.

Will the Japan Disaster Remake the Landscape for Green Energy in Asia?

by Dennis Fisher

Entrepreneurs at the recent Asia Business Conference at Harvard Business School said the disaster in Japan could accelerate the move toward "green" energy sources in Asia, opening opportunities. Closed for comment; 0 Comment(s) posted.

Harvard Business School Faculty Comment on Crisis in Japan

Re: Multiple Faculty

Harvard Business School faculty share their views and insights about the challenges that lie ahead for Japan's business leaders and for global companies operating there. Closed for comment; 11 Comment(s) posted.

How Firm Strategies Influence the Architecture of Transaction Networks

by Jianxi Luo, Daniel E. Whitney, Carliss Y. Baldwin & Christopher L. Magee

In business, an "ecosystem" refers to a group of firms that work together through a series of shared transactions to provide a complex product or service. Using data from the disparate Japanese electronics and automotive sectors, this paper tackles the following questions: Do hierarchies of interfirm transaction networks vary across different ecosystems? What practices explain the difference in hierarchy across these two ecosystems? How do firms' strategies influence hierarchy? And what environmental factors explain the differences in the largest firm's strategies in each ecosystem? Research was conducted by Carliss Y. Baldwin of Harvard Business School and Jianxi Luo, Daniel E. Whitney, and Christopher L. Magee of the Massachusetts Institute of Technology. Key concepts include: There is a much lower degree of hierarchy in the electronics sector than in the automotive sector, due to the numerous interfirm transaction cycles in the former. Many electronics firms have adopted the strategy of "vertically permeable boundaries," meaning that they allow goods to flow from division to division within the firm, but at the same time, internal divisions can buy from and sell to external suppliers and customers. This strategy, which apparently leads to an increase in transaction cycles and innovation, is virtually nonexistent in the automotive sector. Several environmental factors explain the difference in strategy at these firms. Electronics firms face short product life cycles, low transaction costs, and low levels of asset specificity (meaning investments initially meant to support one transaction are likely to retain their value even if they are used for a different transaction). Automotive firms, on the other hand, have long product life cycles, high transaction costs, and high levels of asset specificity. Closed for comment; 0 Comment(s) posted.

The Task and Temporal Microstructure of Productivity: Evidence from Japanese Financial Services

by Bradley R. Staats & Francesca Gino

Boredom and fatigue often hamper the productivity of workers whose jobs consist of repeating the same tasks. This paper explores ways in which companies can combat this problem, introducing the idea of the "restart effect" - a deliberate disruption that kindles productivity. Research, which focused on a loan-application processing line at a Japanese bank, was conducted by HBS professor Francesca Gino and Kenan-Flagler Business School assistant professor Bradley R. Staats. Key concepts include: Even taking acclimation into account, a worker's productivity will improve immediately after switching from one task to another, so it behooves managers to introduce a variety of tasks into the workday. All else being equal, workers perform better during the first half of the day than the second half. Productivity improves markedly when workers are given the incentive of leaving as soon as the day's tasks are completed. (The researchers found that workers performed 13.1% better on Saturdays, when they had the option of leaving early, than on Mondays, when they were required to work a nine-hour day.) Closed for comment; 0 Comment(s) posted.