Publications
- February 2015
- Academy of Management Review
Reflections on the 2013 Decade Award: "Exploitation, Exploration, and Process Management: The Productivity Dilemma Revisited" Ten Years Later
Abstract—This paper reflects on Benner and Tushman (2003): "Exploitation, Exploration, and Process Management: The Productivity Dilemma Revisited." Our paper received the Academy of Management Review's best paper award in 2003 and the decade award in 2013. We consider the context within which the paper was written with particular reference to the theoretical, empirical, and managerial problems salient at that time and comment on the likely reasons the paper has had a sustained influence in the field. Looking forward, we first ask whether the paradoxes and inconsistencies we discussed are still fundamental organizational challenges, and then go further to consider ways the domain of innovation itself has changed. We suggest that because of fundamental shifts in communication and information processing costs and the increasing modularity of products and services, the nature and locus of innovation has changed over the past decade. These secular trends have profound implications for our theories of innovation and organizations. Our extant theory and research is increasingly uncoupled from the phenomena. We would be well served to revisit the nature, locus, and basic processes of innovation.
Publisher's link: http://amr.aom.org.ezp-prod1.hul.harvard.edu/content/early/2015/02/10/amr.2015.0042.abstract
- February 2015
- American Economic Review: Papers and Proceedings
Liquidity in Retirement Savings Systems: An International Comparison
Abstract—No abstract available.
Publisher's link: http://www.hbs.edu/faculty/Publication%20Files/international_comparison_6f4a5ffb-82d4-471e-991f-90744f72e677.pdf
- February 2015
- Business Model Innovation: The Organizational Dimension
A Corporate View of Business Model Innovations
Abstract—No abstract available.
Publisher's link: http://ukcatalogue.oup.com/product/9780198701873.do
- February 2015
- Manufacturing & Service Operations Management
Improving Store Liquidation
Abstract—This paper introduces methods for increasing the efficiency of retail store liquidation, which we define as the time-constrained divestment of retail outlets through an in-store sale of inventory. The retail industry depends extensively on liquidation, not only as a means for investors to recover capital from failed ventures, but also to allow managers of going concerns to divest stores in efforts to enhance performance and to change strategy. The operations literature has examined product liquidation, but retail store liquidation differs significantly. This paper augments the literature by introducing techniques for improving operating decisions during retail store liquidations and by demonstrating the performance of these methods in the field.
- February 2015
- Leading Sustainable Change: An Organizational Perspective
Making the Business Case for Environmental Sustainability
Abstract—Can a business case be made for acting sustainably? This is a difficult question to answer precisely, largely because there is no generally accepted definition of the term "sustainability." Is it acting sustainably to protect the human rights of the firm's workforce? To invest in education in local communities? To switch to renewable power? All of these actions might improve social welfare, and some of them might improve profitability, but they are very different, and the business case for each of them is similarly likely to look quite different. Here I begin to explore the issue by focusing on a more limited question, namely whether a business case be made for acting in an environmentally sustainable way, which I define as acting in any way that reduce a firm's environmental footprint.
Publisher's link: http://www.hbs.edu/faculty/Publication%20Files/15-068_c417331e-2146-40b6-8dfc-aa9a029db119.pdf
Abstract—No abstract available.
Publisher's link: https://hbr.org/2015/03/corporate-governance-2-0
Working Papers
What Courses Should Law Students Take? Harvard's Largest Employers Weigh In
Abstract—We report the results of an online survey, conducted on behalf of Harvard Law School, of 124 practicing attorneys at major law firms. The survey had two main objectives: (1) to assist students in selecting courses by providing them with data about the relative importance of courses and (2) to provide faculty with information about how to improve the curriculum and best advise students. The most salient result is that students were strongly advised to study accounting and financial statement analysis, as well as corporate finance. These subject areas were viewed as particularly valuable, not only for corporate/transactional lawyers, but also for litigators. Intriguingly, non-traditional courses and skills, such as business strategy and teamwork, are seen as more important than many traditional courses and skills.
Download working paper: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2397317
Cases & Course Materials
- Harvard Business School Case 515-042
Simplot Plant Sciences: Designing a Better Potato
Privately held Simplot has developed a new genetically engineered potato that substantially reduces waste and does not turn brown after cutting. Unlike other GMOs, it does not contain foreign genes. The case describes the company's commercialization plans in light of the complex environment surrounding genetically modified foods.
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- Harvard Business School Case 815-078
Vehbi Koç and the Making of Turkey's Largest Business Group (B)
The case builds on the earlier (A) case, which described the origins of the Turkish business group established by Vehbi Koç before 1988. This case takes the story forward to 2012 as the Koç group was led by Vehbi's son Rahmi followed by his grandson Mustafa. It explores both the professionalization of the management and a radical restructuring of the business portfolio as the group refocused on five core sectors. The case also examines the start of the group's globalization strategy, which was focused on the white goods affiliate Arçelik.
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https://cb.hbsp.harvard.edu/cbmp/product/815078-PDF-ENG
- Harvard Business School Case 815-102
Brentwood Associates: Exiting Zoës Kitchen
The case discusses the trade-offs associated with the different exit options that private equity firm Brentwood Associates contemplated for its investment in Zoës Kitchen during the summer of 2013: an IPO, a sale to a strategic or financial acquirer, or waiting a few more years before exiting the investment.
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https://cb.hbsp.harvard.edu/cbmp/product/815102-PDF-ENG
- Harvard Business School Case 415-047
BlackRock: Diversity as a Driver for Success
In July 2014, the Global Executive Committee (GEC) for BlackRock, the world's largest asset manager, held a two-day offsite to discuss the state of talent within the firm. A year prior, in 2013, Chairman and CEO Laurence (Larry) Fink had asked Global Head of HR Jeff Smith to outline to the GEC the firm's Diversity and Inclusion efforts, benchmarking its progress against eight practices associated with building more inclusive cultures. At the July 2014 off-site, Smith and Kara Helander, Global Head of Philanthropy and Diversity and Inclusion (D&I), provided a summary of the firm's journey to date and an update on its progress. The message from Fink at the July meeting was clear: the firm needed to do more. This message was also reinforced by the Board who wanted to see an increase in diversity in succession plans and leadership ranks. Smith and his team needed to work with the GEC to lead the change. They needed to decide: What needed to be done next? What were the key areas that needed the most improvement? What were the greatest challenges and opportunities facing the firm, and how could D&I initiatives help address them? What actions needed to be taken to meet the request from Fink and the Board?
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- Harvard Business School Case 415-041
Sanford C. Bernstein Goes to Asia (B)
This case supplements "Sanford C. Bernstein Goes to Asia." Updates readers on Ghislain de Charentenay's first full year as director of Asian Research at Sanford C. Bernstein in Hong Kong and actions taken by the firm in FY2013
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https://cb.hbsp.harvard.edu/cbmp/product/415041-PDF-ENG
- Harvard Business School Case 815-076
Oasys Water: Balancing Strategic Partnerships & Financing Decisions
Oasys Water had developed a proprietary water treatment technology based on an innovative forward osmosis process that could remove dissolved solids from water more effectively and efficiently than existing technologies. As Oasys looked to scale, it was exploring partnerships with various incumbent firms-the most serious were with a set of international oil and gas production companies (IOCs); a global oil and gas (O&G) services provider called National Oilwell Varco (NOV); and Woteer, a Chinese EPC company specializing in industrial water and wastewater systems. Woteer had expressed an interest in gaining exclusive access to Oasys' forward osmosis technology for water treatment applications in China in exchange for an equity investment. Jim Matheson, President and CEO, did not have the luxury of choosing a partner solely on the merits of its strategic value to Oasys. He was forced to evaluate the strategic benefit alongside the likelihood of actually closing a deal, the specific terms of each deal, and especially the speed with which a deal could be closed, given Oasys' pressing financing needs. Should he do a deal with Woteer, and if so, on what terms?
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https://cb.hbsp.harvard.edu/cbmp/product/815076-PDF-ENG
- Harvard Business School Case 415-030
Building Effective Working Relationships
This note introduces a framework for deliberately building effective interpersonal relationships. First, we will define the necessary attributes of these relationships. Next, we will discuss common barriers to effectiveness. Lastly, we will provide tools to build and maintain these relationships.
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https://cb.hbsp.harvard.edu/cbmp/product/415030-PDF-ENG
- Harvard Business School Case 715-022
HEINEKEN-Brewing a Better World
The Dutch company HEINEKEN, one of the leading global brewers known for its brands like Heineken, Amstel, and Desperados and for its award-winning marketing campaigns, seeks to closely integrate its long-term sustainability "Brewing a Better World" approach into its corporate strategy. HEINEKEN had set itself ambitious 2015 and 2020 sustainability targets in six pillar areas around energy/CO2, water, sustainable sourcing, responsible consumption, community/inclusive growth, and health and safety. The case focuses on HEINEKEN's efforts in the sustainable sourcing pillar, with its work on farming standards and supplier code as well as its support for local sourcing programs in the growing African market. HEINEKEN's management finds that marketing its achievements in these sustainability areas poses new challenges though. For example, its current "mass-balance" sourcing, in which sustainable and traditional material got mixed in the supply chain, did not allow for effective communication on a given bottle. But was this reason enough to try to move to "segregated" sourcing, if that was even reasonable?
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- Harvard Business School Case 215-031
Citywide Building Services
No abstract available.
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https://cb.hbsp.harvard.edu/cbmp/product/215031-PDF-ENG
- Harvard Business School Case 215-030
Fail Safe Testing, Inc.
No abstract available.
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- Harvard Business School Case 215-034
Zeswitz Music
No abstract available.
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https://cb.hbsp.harvard.edu/cbmp/product/215034-PDF-ENG
- Harvard Business School Case 315-075
More Citizens Connect
Funding to scale Citizens Connect, Boston's 311 app, is both a blessing and a burden and tests two public entrepreneurs. In 2012, the Commonwealth of Massachusetts provides Boston's Mayor's Office of New Urban Mechanics with a grant to scale Citizens Connect across the state. The money gives two co-creators of Citizens Connect, Chris Osgood and Nigel Jacob, a chance to grow their vision for citizen-engaged governance and civic innovation, but it also requires that the two City of Boston leaders sit on a formal selection committee that pits their original partner, Connected Bits, against another player that might meet the specific requirements for delivering a statewide version. The selection and scaling process raises questions beyond just which partner to choose. What would happen to the Citizens Connect brand as Osgood and Jacob's product spreads across the state? Who could help scale their work best then nationally? Which business models were best positioned to drive that growth? What intellectual property arrangements would best enable it? And what role should the two city employees have, anyway, in scaling Citizens Connect outside of Boston in the first place? These questions hung in the air as they pondered the big one about passing over Connected Bits for another partner: Should they?
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https://cb.hbsp.harvard.edu/cbmp/product/315075-PDF-ENG
- Harvard Business School Case 713-035
Pittsburgh
The case narrates the development of Pittsburgh from the 1940s to 2012. It analyzes the collapse of the steel industry in the early 1980s, the city's subsequent decline, and the city's later re-emergence as a hub for higher education, the tech sector, and the healthcare industry. Attention is given to the public-private partnerships that emerged in Pittsburgh, as well as the economic development and taxation initiatives pursued by different mayors.
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https://cb.hbsp.harvard.edu/cbmp/product/713035-PDF-ENG