HBR On Strategy

What does it take to succeed as a business while doing well by your employees? Harvard Business School professor emeritus Michael Beer has studied companies who invest in building long-term social value, and he says they offer some key lessons for other firms. In this episode, he breaks down how these companies set their strategies for new products and services. As he explains: “One of the key disciplines they have is what we called forging a strategic identity. So what does that mean? It means that they, first of all, start the process of deciding what they’re going to do, what services or products they’re going to offer…what markets they will go into…by first asking themselves, ‘Who are we?’ They start from the inside out…rather than from the outside in.” Michael Beer is also the coauthor of Higher Ambition: How Great Leaders Create Economic and Social Value.Key episode topics include: strategy, leadership. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Higher Ambition Leadership (2011)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org ]]>

Looking at business news over the past decade (including a few HBR articles), you might assume that just about every traditional company has fallen — or will soon fall — to competitors from the tech industry. But London Business School professor Julian Birkinshaw says that story of disruption and destruction is overblown. His research into Fortune 500 and Global 500 organizations shows that many industries haven’t been radically remade, despite the rise of a few tech giants like Amazon and Google. Birkinshaw outlines the strategies that many incumbents, like J.P. Morgan, Disney, and Proctor & Gamble, are using to survive and thrive. He breaks down the benefits and drawbacks of four key strategies that incumbents typically use to compete with insurgents. And he explains how you can decide which strategy best fits your organization.Key episode topics include: strategy, disruptive innovation, digital transformation. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: No, Tech Start-ups Aren’t Taking Over the World (2022)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

If you’re a fast-growing company in an emerging economy, you need a strategy for competing in your home market in the short term. But you also need a longer-term strategy that will help you grow beyond that initial market. John Jullens says the challenge is building both strategies simultaneously. Jullens is a longtime management consultant who specializes in corporate and business unit strategy. He explains why so many companies in emerging markets make the mistake of focusing on execution and first mover advantage. Instead, he argues that companies need to lay the strategic foundations for long-term success early on or risk flaming out. Key episode topics include: strategy, international business, asia, growth strategy. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR IdeaCast episode: Why So Many Emerging Giants Flame Out (2014)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Khan Academy, the online global education nonprofit, launched in 2006 when founder Sal Khan created a few videos to help his cousin with her math homework. After a decade of growth brought Khan Academy’s user base to more than 15 million monthly visitors, Khan knew he needed expert help to formulate and lead a strategy for the organization’s future growth.He hired Ginny Lee from Intuit to serve as Khan Academy’s COO and president. Her mandate was to redefine the organization’s priorities, create a focused strategy for growth, and continue scaling the company. Harvard Business School professor Bill Sahlman studied the company’s growth strategy, and wrote a business case study about it. He explains why it’s so important to build a well-balanced leadership team as part of your growth strategy. He also breaks down how to create processes for everything from budgeting to giving feedback. .Key episode topics include: strategy, leadership and managing people, operations and supply chain management, digital learning, growth strategy. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR Cold Call episode: Can Khan Academy Scale to Educate Anyone, Anywhere? (2019)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Leadership transitions are challenging for both organizations and the leaders who must directly navigate them. But Michael Watkins says they’re also a time of incredible opportunity — especially for those leaders who understand how to handle this crucial period. Watkins is a professor of leadership and organizational change at IMD Business School. He shares a framework for selecting a transition strategy that best matches the situation you’re facing — whether you’re building a new operation from scratch or trying to turnaround a business in crisis. Watkins also explains why it’s so important to effectively assess your new leadership context and not to rely only on transition strategies that have worked for you in the past. Key episode topics include: strategy, strategic planning, leadership transitions. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR IdeaCast episode: Picking the Right Transition Strategy (2008)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

In 1992, Canada, Mexico, and the U.S. signed NAFTA, the North American Free Trade Agreement, and the global business landscape began transforming. Pankaj Ghemawat, a professor at NYU’s Stern School of Business, studies how companies have adjusted their strategies to that disruptive change — from rethinking their supply chains to learning to navigate unpredictable trade policy environments. He discusses how companies can plan for an evolving world of multi-country international supply chains and cross-border information flows. Key episode topics include: strategy, competitive strategy, business history, globalization, technology and analytics. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Globalization: Myth and Reality (2017)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Disruptive innovation has proven to be such a powerful idea that the word “innovation” is often equated with the broader idea of market disruption. But that’s not always the case.INSEAD strategy professor Renée Mauborgne says there is a way to create new markets without destroying jobs, companies, and communities. She calls this idea: “nondisruptive creation.”Mauborgne explains how some entrepreneurs and companies have been able to grow billion-dollar businesses by creating new markets rather than displacing existing ones. She points to Square, which enables credit card transactions with a mobile phone or tablet, as one prime example.Mauborgne also breaks down the key operational advantages that come with nondisruptive creation and explains how to spot a nondisruptive market opportunity and evaluate its potential. Key episode topics include: strategy, innovation, disruptive innovation, growth strategy, entrepreneurs and founders. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Disruption Isn’t the Only Path to Innovation (2023)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Enel, Italy’s state-owned power company founded in 1962, was one of Europe’s largest coal users and polluters. Now it is recognized as a leader in renewable energy services and has integrated sustainability into its business model and operations. In this episode, former Harvard Business School senior lecturer Mark Kramer explains how Enel made that enormous strategic change — from its long-range planning to how it tackled the dreaded “innovator’s dilemma.”Kramer studied the company’s transformation into a renewable energy leader in his case, “Enel: The Future of Energy.” Key episode topics include: strategy, change management, leadership and managing people. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original Cold Call episode: How a Coal Polluter Became a Renewable Energy Leader (2018)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Creating value is table stakes for any business. But is your organization also capturing the value you create? IMD professor Stefan Michel says that many businesses don’t actually know how. “Many companies spend a lot of time on innovating, in a sense that they create more value for customers,” he argues. “What they often miss is to think about how to capture that value.” Michel studies marketing and strategy at the Switzerland-based business school. Through his research, he created a framework for defining the value of your innovations. In this episode, he explains how to apply his framework — whether you’re developing new business ideas or formulating a strategy to compete with a new entrant in your market. He also discusses how value-capture works in the real world — drawing on examples from companies like Nespresso and Google. Key episode topics include: strategy, innovation, value-based pricing, pricing, value capture, Nespresso, Google, new revenue streams, growth strategy. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR IdeaCast episode: Focus More on Value Capture (2014)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Climate change is causing severe weather, dangerously elevated temperatures, and water shortages around the world. Meanwhile, firms are struggling to reduce their carbon emissions while adapting their operations to these new conditions. To address both challenges at once, Harvard Business School professors Forest Reinhardt and Michael Toffel have proposed an unconventional path forward: learning from the climate change strategies of the U.S. Navy. They argue that the Navy’s scientific and sober view of the world’s changing climate offers insight that can also apply to the private sector. In this episode, you’ll learn how to balance mitigation activities in the shorter term with long-term investments that will help your organization adapt to future changes. You’ll also learn how climate change could shift demand in your markets and reshape shipping routes and affect your supply chains.

Do you know the difference between accurate forecasting and effective forecasting?Technology forecaster Paul Saffo says accurate forecasting is nearly impossible to do. But if you aim for effective forecasting, he notes, then at least you’re considering the full range of reasonable possibilities for the future, rather than jumping to one conclusion and preparing only for that outcome. “If you head straight towards accurate forecasting, you may end up in a much worse situation by overlooking things that eventually come to pass,” Saffo argues.In this episode, he shares his six rules for effective forecasting—from visualizing future uncertainty to discerning patterns in past data—and explains why it’s important to be your own worst critic of your forecasts. Key episode topics include: strategy, strategic planning, risk management, decision making and problem solving, forecasting, technology. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Six Rules for Effective Forecasting (2007)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

AptDeco, a peer-to-peer marketplace for used furniture, launched in New York City in 2014. Despite its complexity and high costs, the company grew quickly. Co-founders Reham Fagiri and Kalam Dennis considered several different options for scaling the business—from expanding into new markets to rebranding with a sustainability focus. In this episode, Harvard Business School associate professor Ayelet Israeli and AptDeco co-founder Kalam Dennis discuss the path to scaling that AptDeco ultimately chose and what their experience can indicate about how to successfully scale a startup. They focus on how to translate early failures into valuable information that can help your business move forward and grow in the long term. They also explain how to use data and analytics to improve your value proposition.Key episode topics include: strategy, entrepreneurship, entrepreneurial business strategy, marketing, furniture, analytics, start-up, scaling, growth strategy. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR Cold Call episode: How to Scale a Startup Marketplace for Used Furniture (2022)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Some managers develop strategy by focusing on problems in the present, and that’s especially true during a crisis. But Mark Johnson, co-founder of the innovation consulting firm Innosight, argues that leaders should imagine the future and then work backward to build their organization for that new reality. In this episode, he outlines the practical steps managers can take to look beyond the typical short-term planning horizon and help their teams grasp future opportunities. Johnson also shares real-world examples from Apple, Johnson & Johnson, and Intel to illustrate what can happen when leaders shift their strategic mindset to focus on the future. Key episode topics include: strategy, innovation, decision making and problem solving, growth strategy, crisis leadership, managing teams. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR IdeaCast episode: To Build Strategy, Start with the Future (2020)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Is your company’s existing growth formula finally reaching its limit?Bain & Company partner Chris Zook says you may need to redefine your core business if you want to power new growth. Zook was co-head of Bain’s Global Strategy practice for 20 years. He’s also a best-selling business author.In this episode, he shares three warning signs that indicate your core business needs to be redefined, and he explains how to approach that transformation. In particular, he focuses on how to uncover what he calls “hidden assets” within your company that can offer future sources of growth.Key episode topics include: strategy, competitive strategy, growth strategy, transformation. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Unleash Your Hidden Assets (2007)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Many people aspire to entrepreneurship. But Bill Aulet, who has advised founders for decades, warns that it remains a high-risk endeavor. In this episode, he outlines concrete steps anyone can take to get a new venture off the ground — including intrapreneurs within large organizations. He also breaks down some of the important trends he’s seeing in entrepreneurship, like the increasing commoditization of products and lower barriers to entry, due to technology. Aulet is a professor of entrepreneurship at the Sloan School of Management at MIT. He’s also the author of the book Disciplined Entrepreneurship: 24 Steps to a Successful Startup. Key episode topics include: strategy, entrepreneurship, entrepreneurs and founders, entrepreneurial business strategy, innovation, start-ups. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: A Roadmap for Today’s Entrepreneurs (2024)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

The Super Bowl isn’t just American football’s championship game. It’s also one of the world’s biggest stages for brand messaging. In 2024, the average 30-second Super Bowl ad cost $7 million —and that doesn’t even include production costs. So how do brand managers know if they’re getting a good return on that huge investment? In this episode, Bentley University assistant professor of marketing Shelle Santana discusses the evolution of corporate branding, using lessons from classic Super Bowl ads, like Budweiser's iconic Clydesdale horses. She shares how to choose the best, measurable goal for an ad campaign, while also accounting for the risks that can accompany bold storytelling—like controversy or online backlash. She also explains why some brands release their ads ahead of the game, while others don’t. (Hint: It’s about social media engagement, and ultimately expanding the ROI on your ad investment.)Key episode topics include: strategy, brand management, sales and marketing. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original Cold Call episode: Super Bowl Ads Sell Products, but Do They Sell Brands? (2019)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Online influencers are an increasingly important way for companies to find new customers and drive sales. But if you’re a marketer hoping to target consumers, it’s important to understand how the social media industry works.In this episode, Emily Hund, a researcher at the University of Pennsylvania, explains that influencers grew out of Great Recession-era job cuts that forced people in creative fields to innovate.She offers advice for brands developing influencer marketing strategies. You’ll learn how to find the right influencer for your brand and how to measure success. Hund recommends starting with a small experiment to get familiar with the process before making a larger investment. You’ll also learn why longer-term creative relationships with influencers can produce stronger results than one-off endorsements.Hund is the author of the book The Influencer Industry: The Quest for Authenticity on Social Media. Key episode topics include: strategy, social media, entrepreneurship, social marketing, customer strategy, influencer marketing. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: The Ins and Outs of the Influencer Industry (2023)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

More and more companies are turning to pricing algorithms to maximize profits. But many are unaware of a big downside.Marco Bertini, a marketing professor at Esade Business School in Barcelona, says constant price shifts can actually hurt the perception of your brand and its products. He warns that employing AI and machine learning without considering human psychology can damage your relationship with customers.In this episode, he outlines steps you can take to avoid these pitfalls, including some basic guardrails, overrides, and communication tactics. He also shares real-world examples of companies that are using dynamic pricing to smooth demand and provide better customer experiences. Key episode topics include: strategy, pricing strategy, algorithms, psychology, customer experience, communication, dynamic pricing, brand, AI, machine learning, profits. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Algorithms Won’t Solve All Your Pricing Problems (2021)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

In 2010, Japan’s largest e-commerce platform Rakuten was rapidly expanding into global markets when CEO Hiroshi Mikitani made a surprising announcement: Rakuten’s internal language would be changing to English. That meant that all meetings, emails, and other communications would have to be conducted in English. The company’s employees had two years to become proficient in the language or be demoted. In this episode, Harvard Business School professor Tsedal Neeley discusses her case, “Language and Globalization: ‘Englishnization’ at Rakuten,” and explains why Mikitani introduced this new mandate and what results it achieved. You’ll also learn about the early challenges that accompanied this enormous change, including loss of productivity and employee skepticism, as well as how the shift to English shaped Rakuten’s long-term working culture.Key episode topics include: strategy, global strategy, globalization, cross-cultural management, language, communication, leadership, transformation, organizational culture. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR Cold Call episode: Language and Globalization: The Mandate to Speak English at Rakuten (2017)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>

Managing rapid growth is a huge challenge for young businesses. Even start-ups with glowing reviews and skyrocketing sales can fail . That’s because new ventures and corporate initiatives alike must sustain profitability at scale, according to Harvard Business School senior lecturer Jeffrey Rayport. He has researched some of the biggest stumbling blocks to long-lasting success and he explains how to successfully transition out of the start-up phase. Rayport argues that success has a lot to do with an organization’s cash flow and its ability to meet growing demand. But it also involves something he calls “profit market fit,” which is when an enterprise becomes financially sustainable. Key episode topics include: strategy, start-ups, entrepreneurial business strategy, customer strategy, growth, scaling, demand, cash flow, sustainable business. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Why Some Start-Ups Fail to Scale (2022)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>