Entrepreneurial Management - Faculty & Research

<!DOCTYPE html> <html xmlns="http://www.w3.org/1999/xhtml" lang="en"> <head runat="server"> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/> <meta http-equiv="X-UA-Compatible" content="IE=edge"/> <title>Entrepreneurial Management - Faculty & Research - Harvard Business School</title> <link rel="stylesheet" type="text/css" href="https://webassets.hbs.edu/libs/framework/1.0/css/framework-async.min.css?v=1.0"><script>var MTIProjectId='7104cb2a-976d-4c0f-803f-1a83c9190762';</script><script defer type="text/javascript" src="https://webassets.hbs.edu/libs/framework/1.0/js/mtiFontTrackingCode.js"></script><meta name="HBSSearchUrl" content="/faculty/Pages/search.aspx"><meta name="PageBuildDateTime" content="2024-11-27 05:09:25 AM on "><meta name="viewport" content="width=device-width,initial-scale=1"><link rel="icon" href="https://webassets.hbs.edu/sites/home/favicon.ico"> <style>a[href*="TOFIX" i],a[href*="TODO" i] { background-color: yellow; } @media all and (-ms-high-contrast: none), (-ms-high-contrast: active) { .universal-banner-search-toggle svg {margin-top: -6px;} } .universal-banner-search { min-width: 400px; position: relative; } .universal-banner-menu-toggle { padding:6px; cursor: pointer; } .universal-banner-search-toggle { position: absolute; top: -9px; right: 10px; width: 50px; height: 49px; padding-top: 13px; padding-left: 2px; text-align: center; cursor: pointer; box-sizing: border-box; transition: all .3s cubic-bezier(0.5, 0, 0.1, 1) ; } .universal-banner-search-toggle svg { cursor: pointer; display:block; transition: all .3s cubic-bezier(0.5, 0, 0.1, 1) ; } .universal-banner-search-toggle.toggled { background-color: #a41034; transform: scale(0.65); } .universal-banner-search-toggle.toggled svg { transform: scale(0.9) rotate(-45deg) !important; } .universal-banner-search-input { xoverflow: hidden; xposition: relative; width:269px; } .universal-banner-search-input .universal-site-search-button { display:none; } .universal-banner-search-input .slide { transition: .3s opacity, .3s transform, 0s visibility 0.7s cubic-bezier(0.5, 0, 0.1, 1); xtransform: translateX(310px); opacity: 0; visibility: hidden; } .universal-banner-search-input.open .slide { transition: .3s opacity, .3s transform cubic-bezier(0.5, 0, 0.1, 1); xtransform: translateX(0); opacity: 1; visibility: visible; } .universal-banner .hbs-logo { padding: 8px 0px; } @media (max-width: 919px) and (min-width: 651px) {.responsive-framework .site-header .site-header-button { margin-left: 10px !important; margin-top: 25px !important; } .site-header .universal-banner-hamburger { position:relative; top:2px; left:2px; } .universal-banner-hamburger span { background: #000!important; } .universal-banner .hbs-logo img { height: 52px; } } .universal-banner-hamburger { width: 23px; height: 25px; position: relative; } @media (max-width: 650px) { .responsive-framework .site-header .site-header-button { margin-left: 10px !important; margin-top: 25px !important; } .universal-banner .hbs-logo { padding: 5px 0px; display: flex; justify-content: center; } .universal-banner .hbs-logo img { height: 42px; width: 99px; }.site-header .universal-banner-hamburger { height: 22px; width: 22px; position: relative; left: 4px; } .site-header .universal-banner-hamburger span { height: 3px; } .site-header .universal-banner-hamburger span:nth-child(1) { top: 2px; } .site-header .universal-banner-hamburger span:nth-child(2) { top: 9px; } .site-header .universal-banner-hamburger span:nth-child(3) { top: 16px; } .universal-banner-search-icon svg { width: 39px !important; } .universal-banner-hamburger span { background: #000!important; } } .universal-banner-hamburger span { display: block; position: absolute; height: 4px; width: 100%; background: #FFF; opacity: 1; left: 0; transform: rotate(0deg); transition: .3s cubic-bezier(0.5, 0, 0.1, 1) ; } .universal-banner-hamburger span:nth-child(1) { top: 0px; transform-origin: left center; } .universal-banner-hamburger span:nth-child(2) { top: 8px; transform-origin: left center; } .universal-banner-hamburger span:nth-child(3) { top: 16px; transform-origin: left center; } .universal-banner-hamburger.open span:nth-child(1) { transform: rotate(45deg); } .universal-banner-hamburger.open span:nth-child(2) { width: 0%; opacity: 0; } .universal-banner-hamburger.open span:nth-child(3) { transform: rotate(-45deg); } .skipto.hideme:focus { left: 0px; top: 0px; background-color: white; padding: 6px; width: auto; height: auto; } body:not(.user-is-tabbing) #skipto-main:focus { outline: none; } .above-nav-header .navbar>li:first-child>a { border-left: 1px rgba(255,255,255,0.4) solid; } .above-nav-header .navbar>li:last-child>a { border-right: 1px rgba(255,255,255,0.4) solid; } @media (max-width: 919px) and (min-width: 651px) { header.site-header.above-nav-header .site-header-button { margin-top: 6px!important; margin-bottom: 6px!important; } } .slider-container.slider-open .slider-open[aria-expanded=false] { opacity: 0.3; } .slider-container .btn-glass.slider-open { background-color: transparent !important; } ul.navbar.four li a {padding: 4px 80px 3px 80px!important;} ul.navbar.four li.nav-downloads a {padding: 4px 10px 3px 10px!important;} ul.navbar.four li a.active {padding: 4px 80px!important;} .component-framework .btn-glass.site-header-button {border:0;}.navbar li.nav-downloads{width: 260px; text-align: center;} .navbar .nav-downloads:hover {background: black;} .navbar .nav-downloads:hover > a {border-left:none;} .nav-downloads:hover > a.dropdown-toggle2 span.icon-expand {background-position: -240px -80px !important;} .navbar .nav-downloads:hover > .menu-head, .navbar .nav-downloads.active a {color: white!important;} .navbar li.nav-downloads li{ text-align: left; } .navbar > li.nav-downloads > ul.dropdown-menu2 li a{ margin: 1px 8px;padding: 6px 8px!important; } .navbar > li.nav-downloads .dropdown-menu2 > li.divider { min-width: 100px; margin-left: 8px; margin-right: 8px; } .navbar .dropdown-container2.nav-downloads > a:hover {text-decoration: none;} .navbar li.nav-downloads ul.dropdown-menu2 li a.hover { color: black!important; } .navbar .dropdown-container2.nav-downloads > a > span {margin-left: 10px;} .navbar .dropdown-container2.nav-downloads {position: relative !important;} .navbar .dropdown-container2.nav-downloads .dropdown-menu2 {position: absolute; top:38px !important;left:-1px;min-width:254px!important;} .navbar .dropdown-container2.nav-downloads.active {background-color: black;} .nav-downloads.active a.menu-head span.icon-expand {background-position: -240px -80px;} #flyout-navigation a.dropdown-toggle2 {padding-left: 0 !important;} #flyout-navigation a.dropdown-toggle2 .icon-expand {margin-left: 11px;} .flyout-panel .flyout-padding li a.dropdown-toggle2 {display:none;} @media (max-width: 1220px) and (min-width: 920px) { .site-header h1.gamma-uc.tablet-shrink { font-size: 28px!important; } .site-header h1.tablet-shrink + nav .toolbar > li > a { padding: 4px 4px 0 4px!important; } }@media (max-width: 650px) { .universal-banner-search-icon { height: 24px!important; padding-left: 10px; } .responsive-framework.pattern-framework .site-header .gamma-uc a.white.black-bg { box-shadow: 10px 0 0 black, 0px 0 0 black; padding-right: 0px; } } #sticky-header { position: fixed; overflow: hidden; background-color: inherit; height: 0; top:0!important; left:0; right:0; z-index: 110; transform: translate3d(0,0,0); transition: height .3s cubic-bezier(0.5, 0, 0.1, 1) ; } #sticky-header > div.wrapper { position: absolute; bottom:0; left:0; right:0; } #sticky-header.at-scroll-top { display: none; } .sticky-header-active .facetctrl-sticky.active, .sticky-header-active .filter-sticky.fixed { transition: margin .3s cubic-bezier(0.5, 0, 0.1, 1) ; } .sticky-header-expanded .facetctrl-sticky.active { margin-top:98px; } @media (max-width: 650px) { .sticky-header-expanded .filter-sticky.fixed { margin-top:98px; } .sticky-header-expanded .facetctrl-sticky.active { margin-top:98px; } } @media (min-width: 651px) and (max-width: 919px) { .sticky-header-expanded .filter-sticky.fixed { margin-top:118px; } .sticky-header-expanded .facetctrl-sticky.active { margin-top:113px; } } .sticky-header-active .universal-banner.sticky-header-cloned, .sticky-header-active .sticky-header-cloned .site-header-button { visibility: hidden; } @media screen and (min-width: 920px) { .body-layout { margin-left: 20px; } } .page-header h2.alpha.no-margin { margin-bottom: 0px!important; } .page-header .tagline a { text-decoration: underline; } .page-header .tagline a:hover { text-decoration: none; } @media (max-width: 650px) { .page-header .podcast-avatar-head div { position: relative!important; top: 0!important; } } .mobile-breadcrumb-container .plus-icon .plus-bar { transition: all .3s ease; transform-origin: 50% 50%; transform: rotate(0deg); } .mobile-breadcrumb-container.toggled .plus-icon .plus-bar { opacity: 0; transform: rotate(90deg); } .mobile-breadcrumb ul { margin:-2px 0 0 0; padding: 0 0 3px 33px; } #sticky-header .mobile-breadcrumb ul { border-bottom: 0; padding-bottom: 0; } .mobile-breadcrumb li { padding: 0; margin: 3px 0; list-style-type: none; } .mobile-breadcrumb li.active { position: relative; } .mobile-breadcrumb li.active:before { position: absolute; top: -2px; left: -23px; content: '→'; }.page-header .html p:last-of-type { margin-bottom: 12px; } @media (max-width: 919px) and (min-width: 651px) { .mobile-breadcrumb ul { padding: 0 0 3px 48px; } .mobile-indent { margin-left:48px; } } @media (max-width: 650px) { .mobile-indent { margin-left: 33px; }.page-header .html p:last-of-type { margin-bottom: 0px; } } .unit-tabs .nav-tabs a{ background-color: #ffd5a3; } .unit-tabs .nav-tabs a.active{ background-color:white !important; color: black !important; } .unit-tabs .hr4{ display:none; }h2.gamma-uc { margin-bottom:20px; } h2.legacy-section-header.gamma-uc, h2.gamma-uc.curr { margin-bottom:0px; } h3.eta { margin-bottom:10px; } .carousel-panels .readmore { max-height: none; } .ua-mobile .carousel-panels li, .ua-tablet .carousel-panels li { max-height: none !important; }@media (min-width: 1220px) { .research-hero.sidebar .span2.sidebar-image { width:160px; } } .fr-research-list .publication-extras div{ min-width: 75px; } .fr-research-list .publication-extras a.pub-extra-item{ text-decoration: underline; } .fr-research-list .publication-extras a.pub-extra-item.toggle-button{ padding-left: 10px; } .frCitation a.pdf span.pdf-append { display:none; }.component-framework .btn-arrow-partial.btn-large.btn-right { margin-right: 24px; } .component-framework .btn-arrow-partial.btn-left { margin-left: 24px; } .component-framework .teal-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #2AA296; } .component-framework .teal-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #2AA296; color: white; } .component-framework .teal-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #2AA296; } .component-framework .teal-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #2AA296; color: white; } .component-framework .salsa-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #ed6a47; } .component-framework .salsa-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #ed6a47; color: white; } .component-framework .salsa-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #ed6a47; } .component-framework .salsa-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #ed6a47; color: white; } .component-framework .darkblue-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #3a98c7; } .component-framework .darkblue-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #3a98c7; color: white; } .component-framework .darkblue-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #3a98c7; } .component-framework .darkblue-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #3a98c7; color: white; } .component-framework .citrus-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #ed6a47; } .component-framework .citrus-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #ed6a47; color: white; } .component-framework .citrus-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #ed6a47; } .component-framework .citrus-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #ed6a47; color: white; } .component-framework .green-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #8E9617; } .component-framework .green-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #8E9617; color: white; } .component-framework .green-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #8E9617; } .component-framework .green-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #8E9617; color: white; } .component-framework .lightblue-inherit .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #3a98c7; } .component-framework .lightblue-inherit .event-thumbnail-partial .event-thumbnail span { background-color: #3a98c7; color: white; } .component-framework .lightblue-inherit .inherit-light-bg .event-thumbnail-partial a.event-thumbnail:hover span { background-color: white; color: #3a98c7; } .component-framework .lightblue-inherit .inherit-light-bg .event-thumbnail-partial .event-thumbnail span { background-color: #3a98c7; color: white; } .event-thumbnail-partial .event-thumbnail { min-width:54px; max-width:54px; }.event-thumbnail-partial.legacy .event-thumbnail span{ background-color: #2AA296 !important; } .event-thumbnail-partial.legacy a.event-thumbnail:hover span { background-color: white; color: black !important; } .more a {text-decoration:underline;} .more a:hover {text-decoration:none;}@media print { .profile-details .tablet-hidden.mobile-hidden, .profile-details .span3.sidebar, .profile-details .page-tabs-container, footer .social-grid, .ms-Fabric.ms-Layer-content.content-84 {display:none !important;} .profile-details .tablet-visible.mobile-visible, .profile-details .accordian.profile-tabs dd {display:block !important;overflow:visible !important;} .component-framework dl.accordian dd {position:static !important;margin-bottom:20px;} } .universal-footer .universal-footer-copyright ul.footer-links li { margin: 0px 11px; } .universal-footer .universal-footer-copyright ul.footer-links li:first-child { margin-left: 0px; } .universal-footer .universal-footer-copyright ul.footer-links li:last-child { margin-right: 0px; } @media (max-width: 670px) { .universal-footer .universal-footer-copyright ul.footer-links { display:flex; justify-content: center; flex-wrap: wrap; } .universal-footer .universal-footer-copyright ul.footer-links li { padding-bottom: 12px; } .universal-footer .universal-footer-copyright ul.footer-links li:first-child { margin-left: 11px; } .universal-footer .universal-footer-copyright ul.footer-links li:last-child { margin-right: 11px; } } .button-partial .button { display: inline-block; padding: 3px 18px; text-decoration: none; } .button-partial .button .hbsred-onhover-border { border:2px solid #A41034; } .button-partial svg { padding-top: 2px; padding-right: 8px; vertical-align: top; } ;</style> </head> <body class="expanded-grid-framework"> <header aria-label="Universal HBS Header" role="banner"><a href="#skipto-main" class="hideme skipto">Skip to Main Content</a><div class="universal-banner noindex"> <div class="color-framework grid-framework type-framework component-framework pattern-framework js-framework responsive-framework"> <div class="universal-header-v3"> <div class="black-bg"> <div class="container tablet-container mobile-container"> <div class="row"> <div class="span7"> <div class="hbs-logo" style="z-index: 100;"><a href="https://www.hbs.edu/" data-link-id="header-logo" aria-label="Harvard Business School Home"><img class="fluid" style="display: block;" loading="eager" width="151" height="64" src="https://webassets.hbs.edu/libs/framework/1.0/images/hbs-shield-3line.svg" alt=""></a></div> </div> <div class="span5 desktop-visible"> <div class="search-box tablet-hidden"> <div style="display:flex;margin-right:-8px;"> <div class="universal-banner-search-input"> <div class="slide"> <fieldset class="input" role="search"><input type="search" class="universal-site-search-query" aria-label="Search Text" name="qt" value="" data-placeholder="SEARCH" id="search-text" maxlength="250" style="box-sizing: content-box;float:none;" autocomplete="false"><input type="submit" class="universal-site-search-button" value="Search" id="search-submit"></fieldset> </div> </div> <div class="universal-banner-search" style="min-width:52px;"><a href="#" class="universal-banner-search-toggle block" aria-label="Toggle Search Box"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" style="fill:white;width:44px;" viewBox="0 0 177 100" version="1.1" focusable="false"> <path d="M137.686,11.342 C137.686,-15.909 115.595,-38 88.344,-38 C61.09,-38 39,-15.909 39,11.342 C39,36.724 58.168,57.607 82.818,60.355 L82.818,72.838 C79.304,74.521 76.898,77.714 76.898,81.419 L76.898,128.148 C76.898,133.588 82.023,138 88.345,138 C94.667,138 99.789,133.589 99.789,128.148 L99.789,81.419 C99.789,77.711 97.382,74.521 93.869,72.838 L93.869,60.354 C118.515,57.606 137.686,36.726 137.686,11.342 Z M56.032,11.225 C56.032,-6.759 70.606,-21.338 88.589,-21.338 C106.572,-21.338 121.142,-6.759 121.142,11.225 C121.142,29.205 106.572,43.78 88.589,43.78 C70.606,43.78 56.032,29.205 56.032,11.225 Z" transform="translate(88.343000, 50.000000) rotate(90.000000) translate(-88.343000, -50.000000) "/></svg></a></div> <div class="universal-banner-menu"><a href="#" class="universal-banner-menu-toggle block" aria-label="Toggle Flyout Menu"> <div class="universal-banner-hamburger"><span></span><span></span><span></span></div></a></div> </div> </div> </div> </div> </div> </div> </div> <div id="universal-slider-nav" class="hidden"> <nav class="gamma-uc site-title" aria-label="HBS Homepage"><a href="https://www.hbs.edu/Pages/default.aspx" class="white slidernav-ancillarynav-hbs-home">HBS Home</a></nav> <div class="hr" style="opacity: 0.3"></div> <nav aria-label="HBS Home Main"> <ul class="epsilon-uc unstyled unbulleted"> <li><a href="https://www.hbs.edu/about/Pages/default.aspx" class="slidernav-ancillarynav-about">About</a></li> <li><a href="https://www.hbs.edu/about/academic-programs/Pages/default.aspx" class="slidernav-ancillarynav-academic-programs">Academic Programs</a></li> <li><a href="https://www.alumni.hbs.edu/Pages/default.aspx" class="slidernav-ancillarynav-alumni">Alumni</a></li> <li><a href="https://www.hbs.edu/faculty/Pages/default.aspx" class="slidernav-ancillarynav-faculty-and-research">Faculty & Research</a></li> </ul> </nav> <div class="hr" style="opacity: 0.3"></div> <nav aria-label="HBS Home Utility"> <ul class="kappa-uc unstyled unbulleted"> <li><a href="https://www.library.hbs.edu/" class="slidernav-ancillarynav-baker-library">Baker Library</a></li> <li><a href="https://www.alumni.hbs.edu/giving/Pages/default.aspx" class="slidernav-ancillarynav-giving">Giving</a></li> <li><a href="https://hbr.org/" class="slidernav-ancillarynav-harvard-business-review">Harvard Business Review</a></li> <li><a href="https://www.hbs.edu/about/initiativesandprojects/Pages/default.aspx" class="slidernav-ancillarynav-initiatives">Initiatives</a></li> <li><a href="https://www.hbs.edu/news/Pages/landing.aspx" class="slidernav-ancillarynav-news">News</a></li> <li><a href="https://www.hbs.edu/recruiting/Pages/default.aspx" class="slidernav-ancillarynav-recruit">Recruit</a></li> </ul> </nav> <div class="hr" style="opacity: 0.3"></div> <nav aria-label="Footer"> <ul class="kappa-uc unstyled unbulleted"> <li><a href="https://www.hbs.edu/maps/" class="slidernav-ancillarynav-map-directions">Map / Directions</a></li> </ul> </nav> </div> </div> </div> </header> <div id="container" class="type-framework color-framework grid-framework component-framework pattern-framework js-framework responsive-framework"> <div class="citrus-inherit responsive-type slider-inject" ><div class="inherit-bg sticky-header-container"></div><header class=" inherit-bg site-header noindex crawl-hidden" aria-label="Site Header" role="banner"> <div class="container bg-img-container link-controller"> <div class="desktop-hidden"><button class="site-header-button slider-backdrop-above slider-open btn-glass black" data-target="flyout-navigation"> <div class="universal-banner-hamburger"><span></span><span></span><span></span></div></button><button class="site-header-button slider-backdrop-above slider-open btn-glass black" data-target="flyout-search"> <div class="universal-banner-search-icon" style="height:26px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" style="fill:black;width:44px;position:relative;" viewBox="0 0 177 100" version="1.1" focusable="false"> <path d="M137.686,11.342 C137.686,-15.909 115.595,-38 88.344,-38 C61.09,-38 39,-15.909 39,11.342 C39,36.724 58.168,57.607 82.818,60.355 L82.818,72.838 C79.304,74.521 76.898,77.714 76.898,81.419 L76.898,128.148 C76.898,133.588 82.023,138 88.345,138 C94.667,138 99.789,133.589 99.789,128.148 L99.789,81.419 C99.789,77.711 97.382,74.521 93.869,72.838 L93.869,60.354 C118.515,57.606 137.686,36.726 137.686,11.342 Z M56.032,11.225 C56.032,-6.759 70.606,-21.338 88.589,-21.338 C106.572,-21.338 121.142,-6.759 121.142,11.225 C121.142,29.205 106.572,43.78 88.589,43.78 C70.606,43.78 56.032,29.205 56.032,11.225 Z" transform="translate(88.343000, 50.000000) rotate(90.000000) translate(-88.343000, -50.000000) "/></svg></div></button></div> <div class="gamma-uc site-home "> <div style="margin-top: 3px;"><a href="/faculty/Pages/default.aspx" class="white black-bg">Faculty & Research</a></div> </div> <div class="navigation" style=""> <div class="hr desktop-visible "></div> <nav class="mobile-hidden tablet-hidden " aria-label="Current Site"> <ul class="navbar sticky-header-appears" style="display:flex;justify-content:space-around;"> <li style="white-space:nowrap;" class=""><a href="/faculty/Pages/browse.aspx?faculty=Current" class=" first"> Faculty </a></li> <li style="white-space:nowrap;" class=""><a href="/faculty/research/Pages/default.aspx" class=" ">Research</a></li> <li style="white-space:nowrap;" class=""><a href="/faculty/topics/Pages/default.aspx" class=" ">Featured Topics</a></li> <li style="white-space:nowrap;" class="active"><a href="/faculty/units/Pages/default.aspx" class="active last">Academic Units</a></li> </ul> </nav> </div> <div class="hr desktop-visible sticky-header-invisible"></div> </div> </header>  <div class="mainContainer link-controller" runat="server"> <main id="skipto-main" tabindex="-1" aria-label="Page content"> <div class="page-header inherit-bg" id=""> <div class="page-header-inner"> <div class="container tablet-container mobile-container " style="position:relative;" id=""> <ul class="nu responsive-breadcrumb toggle-container"> <li class="responsive-breadcrumb-toggle"><a href="#" class="toggle-button">…</a><span class="txt-arrow" aria-hidden="true">→</span></li> <li><a href="https://www.hbs.edu/Pages/default.aspx" class="ink">Harvard Business School</a><span class="txt-arrow" aria-hidden="true">→</span></li> <li><a href="/faculty/Pages/default.aspx" class="ink">Faculty & Research</a><span class="txt-arrow" aria-hidden="true">→</span></li> <li> <div class="dropdown-container"><a class="ink nu dropdown-toggle" href="/faculty/units/Pages/default.aspx" role="button">Academic Units<span class="icon-select"></span></a><ul class="dropdown-menu nu"> <li><a href="/faculty/units/Pages/default.aspx" class="white">Academic Units</a><div class="divider inherit-bg"></div> </li> <li><a href="/faculty/units/am/Pages/default.aspx" class="white">Accounting & Management</a></li> <li><a href="/faculty/units/bgie/Pages/default.aspx" class="white">Business, Government & the International Economy</a></li> <li><a href="/faculty/units/em/Pages/default.aspx" class="active inherit-color" aria-current="page">Entrepreneurial Management</a></li> <li><a href="/faculty/units/finance/Pages/default.aspx" class="white">Finance</a></li> <li><a href="/faculty/units/gm/Pages/default.aspx" class="white">General Management</a></li> <li><a href="/faculty/units/marketing/Pages/default.aspx" class="white">Marketing</a></li> <li><a href="/faculty/units/nom/Pages/default.aspx" class="white">Negotiation, Organizations & Markets</a></li> <li><a href="/faculty/units/ob/Pages/default.aspx" class="white">Organizational Behavior</a></li> <li><a href="/faculty/units/strategy/Pages/default.aspx" class="white">Strategy</a></li> <li><a href="/faculty/units/tom/Pages/default.aspx" class="white">Technology & Operations Management</a></li> </ul> </div><span class="txt-arrow" aria-hidden="true">→</span></li> <li> <div class="dropdown-container"><a class="ink nu dropdown-toggle" href="/faculty/units/em/Pages/default.aspx" role="button" aria-current="page">Entrepreneurial Management<span class="icon-select"></span></a><ul class="dropdown-menu nu"> <li><a href="/faculty/units/em/Pages/default.aspx" class="active inherit-color" aria-current="page">Entrepreneurial Management</a><div class="divider inherit-bg"></div> </li> <li><a href="/faculty/units/em/Pages/faculty.aspx" class="white">Faculty</a></li> <li><a href="/faculty/units/em/Pages/curriculum.aspx" class="white">Curriculum</a></li> <li><a href="/faculty/units/em/Pages/events.aspx" class="white">Seminars & Conferences</a></li> <li><a href="/faculty/units/em/Pages/awards.aspx" class="white">Awards & Honors</a></li> <li><a href="/faculty/units/em/Pages/doctoral.aspx" class="white">Doctoral Students</a></li> </ul> </div><span class="txt-arrow" aria-hidden="true">→</span></li> </ul> <div class="row tablet-row"> <div class="span11"> <h1 class="alpha light black mobile-hidden tablet-hidden" style="margin: 0;">Entrepreneurial Management</h1> <div class="toggle-container desktop-hidden mobile-breadcrumb-container"> <h1 class="alpha regular black"><a href="#" class="toggle-button black"> <div style="float: left; margin-right: 8px;"> <div class="mobile-visible"><svg xmlns="http://www.w3.org/2000/svg" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ext="http://www.hbs.edu/" height="24" width="24" style="" viewBox="0 0 80 80" version="1.1" class="plus-icon" focusable="false"> <path fill="currentColor" d="M40,6 C58.7,6 74,21.3 74,40 C74,58.7 58.7,74 40,74 C21.3,74 6,58.7 6,40 C6,21.3 21.3,6 40,6 L40,6 Z M40,0 C17.9,0 0,17.9 0,40 C0,62.1 17.9,80 40,80 C62.1,80 80,62.1 80,40 C80,17.9 62.1,0 40,0 L40,0 Z" fill-rule="nonzero"/> <g fill="currentColor" transform="translate(17.000000, 17.000000)"> <rect class="plus-bar" x="18" y="0.1" width="9.9" height="45.8"/> <rect transform="translate(23.000000, 23.050000) rotate(-90.000000) translate(-23.000000, -23.050000) " x="18.05" y="0.149999995" width="9.9" height="45.8"/> </g></svg></div> <div class="tablet-visible"><svg xmlns="http://www.w3.org/2000/svg" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ext="http://www.hbs.edu/" height="34" width="34" style="" viewBox="0 0 80 80" version="1.1" class="plus-icon" focusable="false"> <path fill="currentColor" d="M40,6 C58.7,6 74,21.3 74,40 C74,58.7 58.7,74 40,74 C21.3,74 6,58.7 6,40 C6,21.3 21.3,6 40,6 L40,6 Z M40,0 C17.9,0 0,17.9 0,40 C0,62.1 17.9,80 40,80 C62.1,80 80,62.1 80,40 C80,17.9 62.1,0 40,0 L40,0 Z" fill-rule="nonzero"/> <g fill="currentColor" transform="translate(17.000000, 17.000000)"> <rect class="plus-bar" x="18" y="0.1" width="9.9" height="45.8"/> <rect transform="translate(23.000000, 23.050000) rotate(-90.000000) translate(-23.000000, -23.050000) " x="18.05" y="0.149999995" width="9.9" height="45.8"/> </g></svg></div> </div> <div style="overflow: hidden;">Entrepreneurial Management <div class="shim3 tablet-visible"></div> </div></a></h1> <div class="toggle-show has-slide mobile-breadcrumb"><ul> <li class=""> <a href="/faculty/units/em/Pages/faculty.aspx" class=" ink">Faculty</a> </li> <li class=""> <a href="/faculty/units/em/Pages/curriculum.aspx" class=" ink">Curriculum</a> </li> <li class=""> <a href="/faculty/units/em/Pages/events.aspx" class=" ink">Seminars & Conferences</a> </li> <li class=""> <a href="/faculty/units/em/Pages/awards.aspx" class=" ink">Awards & Honors</a> </li> <li class=""> <a href="/faculty/units/em/Pages/doctoral.aspx" class=" ink">Doctoral Students</a> </li> </ul> </div> </div> <div class="mobile-indent"> <div class="sticky-header-hidden"></div> </div> </div> </div> <div class="shim22 mobile-hidden"></div> <div class="shim14 mobile-visible"></div> </div> </div> </div> <div class="inherit-bg unit-tabs"> <div class="shim9"></div> <div class=" "> <div class="container tablet-container mobile-container "> <div class="mobile-hidden"> <table class="nav-tabs table-overflow tabs-hero"> <tr> <td><a href="/faculty/units/em/Pages/default.aspx" class="active inherit-bg" aria-label="Entrepreneurial Management Overview">Overview</a></td> <td><a href="/faculty/units/em/Pages/faculty.aspx" class="" aria-label="Entrepreneurial Management Faculty">Faculty</a></td> <td><a href="/faculty/units/em/Pages/curriculum.aspx" class="" aria-label="Entrepreneurial Management Curriculum">Curriculum</a></td> <td><a href="/faculty/units/em/Pages/events.aspx" class="" aria-label="Entrepreneurial Management Seminars & Conferences">Seminars & Conferences</a></td> <td><a href="/faculty/units/em/Pages/awards.aspx" class="" aria-label="Entrepreneurial Management Awards & Honors">Awards & Honors</a></td> <td><a href="/faculty/units/em/Pages/doctoral.aspx" class="" aria-label="Entrepreneurial Management Doctoral Students">Doctoral Students</a></td> </tr> </table> <div class="hr4"></div> </div> </div> </div> </div> <div class="research-hero homepage" style="position:relative"> <div class="" style="background-color:#fff"> <div class="container mobile-container tablet-container"> <div class="shim40 desktop-visible tablet-visible"></div> <div class="shim30 mobile-visible"></div> <div class="carousel-container"> <ul class="carousel-panels"> <li> <div class="row desktop-visible"> <div class="span2"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=337265" class="fluid stroke4 black-border" alt=""></div> <div class="span9 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-left: 18px;"> <ul class="linear mu-uc"> <li>January 2025</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66613" class="no-append"> <h2 class="beta">Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High</h2></a><div class="shim15"></div> <div class="nu add-underline">By: John (Jianqui) Bai, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=337265&click=byline">William R. Kerr</a>, Chi Wan and Alptug Yorulmaz</div> <div class="shim12"></div> <p class="trim-ellipsis">We study funding gaps on Kickstarter across multiple ethnic groups from 2009 to 2021. Scaling the concept of racially salient events, we quantify the close co-movement of minority funding gaps in crowd-funding to inflamed political rhetoric surrounding migration. The funding gap for minorities more than doubles in the most inflamed periods compared to baseline. Results are especially acute for Hispanic creators. Distant, mostly white backers are typically important for projects reaching a critical threshold of funding support. Retractions in support for minority creators during tense periods are even spatially, as present in liberal cities as in conservative ones.</p> </div> </div> </div> <div class="row-left tablet-visible mobile-visible"> <div class="span1"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=337265" class="fluid stroke4 black-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>January 2025</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66613" class="no-append"> <h2 class="beta">Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High</h2></a><div class="shim15"></div> <div class="nu add-underline">By: John (Jianqui) Bai, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=337265&click=byline">William R. Kerr</a>, Chi Wan and Alptug Yorulmaz</div> <div class="shim12"></div> <p>We study funding gaps on Kickstarter across multiple ethnic groups from 2009 to 2021. Scaling the concept of racially salient events, we quantify the close co-movement of minority funding gaps in crowd-funding to inflamed political rhetoric surrounding migration. The funding gap for minorities more than doubles in the most inflamed periods...</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=122194" class="fluid stroke4 black-border" alt=""></div> <div class="span9 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-left: 18px;"> <ul class="linear mu-uc"> <li>November 2024</li> <li class="ash">Case</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66639" class="no-append"> <h2 class="beta">MiDAS: Automating Unemployment Benefits</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=122194&click=byline">Shikhar Ghosh</a> and Shweta Bagai</div> <div class="shim12"></div> <p class="trim-ellipsis"></p> </div> </div> </div> <div class="row-left tablet-visible mobile-visible"> <div class="span1"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=122194" class="fluid stroke4 black-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>November 2024</li> <li class="ash">Case</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66639" class="no-append"> <h2 class="beta">MiDAS: Automating Unemployment Benefits</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=122194&click=byline">Shikhar Ghosh</a> and Shweta Bagai</div> <div class="shim12"></div> <p></p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=121451" class="fluid stroke4 black-border" alt=""></div> <div class="span9 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-left: 18px;"> <ul class="linear mu-uc"> <li>November 2024</li> <li class="ash">Case</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66608" class="no-append"> <h2 class="beta">Tim Ferriss: What Might This Look Like If It Were Easy?</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=121451&click=byline">Reza Satchu</a> and Denise Koller</div> <div class="shim12"></div> <p class="trim-ellipsis"></p> </div> </div> </div> <div class="row-left tablet-visible mobile-visible"> <div class="span1"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=121451" class="fluid stroke4 black-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>November 2024</li> <li class="ash">Case</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66608" class="no-append"> <h2 class="beta">Tim Ferriss: What Might This Look Like If It Were Easy?</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=121451&click=byline">Reza Satchu</a> and Denise Koller</div> <div class="shim12"></div> <p></p> </div> </div> </div> </li> </ul> <div class="shim12"></div> <div class=" carousel-nav carousel-nav-centered" style="position: absolute; bottom: 0; left: 0; width : 100%; padding: 15px 0 11px 0;"></div> </div> <div class="shim50"></div> </div> </div> </div> <div class=" "> <div class="container tablet-container mobile-container "> <div class="hr4" style="margin:28px 0px 0px"></div> </div> </div> <div class="container mobile-container tablet-container vrule8"> <div class="vrule-gutter desktop-visible"></div> <div class="cap mobile-cap tablet-cap"></div> <div class=""> <div class="row"> <div class="span8"> <h2 class="gamma-uc">About the Unit</h2> <p>The Entrepreneurial Management Unit strives to raise the level of academic work in the field of entrepreneurship, in methodological rigor, conceptual depth, and managerial applicability. We also strive to improve the odds of entrepreneurial success for our students and for practitioners worldwide. </p> <p>Because it is such a complex phenomenon, entrepreneurship must be studied through multiple lenses. We use three. </p> <ul> <li><strong>The process of entrepreneurship</strong> - We seek to understand the processes of entrepreneurial activity in start-ups and established firms by examining the antecedents and consequences of various forms of entrepreneurial opportunity identification and opportunity pursuit for individuals, organizations, and industries. We see experimentation and innovation in products, services, processes, and business models as central to entrepreneurial activity. </li> <li><strong>The finance of entrepreneurship</strong> - We seek to understand the financing of entrepreneurial ventures by studying the antecedents and consequences of entrepreneurial funding decisions both domestically and internationally.</li> <li><strong>The context of entrepreneurship</strong> - We seek to understand the ways in which entrepreneurs both respond to and shape the context in which they operate, by examining the history of entrepreneurship across time and national borders and by analyzing the legal and cultural contexts for managerial action. </li> </ul> <p></p> <p>Please also visit the <a href="/entrepreneurship">Arthur Rock Center for Entrepreneurship</a>. </p> <div class="hr4" style="margin:40px 0px"></div> <div class="legacy-section-header"> <h2 class="legacy-section-header gamma-uc">Recent Publications</h2> </div> <div class="shim20"></div> <div class="fr-research-list"> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66613" aria-label="Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High faculty & research publication detail page"> <h2 class="eta">Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High</h2></a><div class="nu add-underline">By: John (Jianqui) Bai, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=337265&click=byline">William R. Kerr</a>, Chi Wan and Alptug Yorulmaz</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">January 2025</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Research Policy</li> </ul> <div class="shim10"></div> <div class="add-underline">We study funding gaps on Kickstarter across multiple ethnic groups from 2009 to 2021. Scaling the concept of racially salient events, we quantify the close co-movement of minority funding gaps in crowd-funding to inflamed political rhetoric surrounding migration. The funding gap for minorities more than doubles in the most inflamed periods compared to baseline. Results are especially acute for Hispanic creators. Distant, mostly white backers are typically important for projects reaching a critical threshold of funding support. Retractions in support for minority creators during tense periods are even spatially, as present in liberal cities as in conservative ones.</div> <div class="shim12"></div> <div class="mu regular add-underline"><span><strong>Keywords: </strong></span><a href="/faculty/research/publications/Pages/default.aspx?q=Crowdfunding">Crowdfunding</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Prejudice and Bias">Prejudice and Bias</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Race">Race</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Immigration">Immigration</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Public Opinion">Public Opinion</a></div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation1" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High">Citation</a></div> <div style="min-width:110px;"><a href="https://www.hbs.edu/faculty/Pages/download.aspx?name=BKWY_Kickstarter_Kerr.pdf" class="pub-extra-item black mu" aria-label="Read Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High Now">Read Now</a></div> <div class="relatedpopout-trigger"><a href="#frRelated1" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66613" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Everyone Steps Back?: The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High">Related</a></div> </div> <div id="frCitation1" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Bai, John (Jianqui), William R. Kerr, Chi Wan, and Alptug Yorulmaz. <A HREF="https://www.hbs.edu/faculty/Pages/download.aspx?name=BKWY_Kickstarter_Kerr.pdf">"Everyone Steps Back? The Widespread Retraction of Crowd-Funding Support for Minority Creators When Migration Fear Is High."</A> <I>Research Policy</I> 54, no. 1 (January 2025).</div> <div id="frRelated1" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66574" aria-label="Mercado Bitcoin: M&A, IPO, or Series B? faculty & research publication detail page"> <h2 class="eta">Mercado Bitcoin: M&A, IPO, or Series B?</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1199335&click=byline">Raymond Kluender</a>, Emanuele Colonnelli and Sabrina Howell</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">November 2024</span> | </li> <li style="margin-right: 0px;">Teaching Note | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">Teaching Note for HBS Case No. 825-047. In April 2021, Brazilian cryptocurrency platform Mercado Bitcoin, had to decide how to scale: go public, M&A with a bank, or take a VC big check. In a highly volatile market, Roberto Dagnoni, chairman of the board, viewed the unprecedent crypto momentum as a window of opportunity for achieving the liquidity they needed to accelerate the company’s expansion plans. In a striking twist of events for Mercado Bitcoin, which had just closed a challenging Series-A capital round after a year of hard negotiations, while considering an Initial Public Offering (IPO), the company was approached by the M&A teams of two large banks. And SoftBank, the largest-ever technology-focused fund in Latin America, presented a tempting term sheet. The case goes through the history of Mercado Bitcoin, from being the first Brazilian cryptocurrency exchange platform into becoming one of the largest crypto asset exchanges in Latin America; the challenges faced throughout it, from market swings to the lack of regulatory infrastructure; up to the dilemma point, presenting the cons and pros of the three options, viewing the company’s insights, revenue forecasts, and comparatives of reference companies.</div> <div class="shim12"></div> <div class="mu regular add-underline"><span><strong>Keywords: </strong></span><a href="/faculty/research/publications/Pages/default.aspx?q=Business Ventures">Business Ventures</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Mergers and Acquisitions">Mergers and Acquisitions</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Growth and Maturation">Business Growth and Maturation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Startups">Business Startups</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Decision Making">Decision Making</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Going Public">Going Public</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Ownership Stake">Ownership Stake</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Strategic Planning">Strategic Planning</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Venture Capital">Venture Capital</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Problems and Challenges">Problems and Challenges</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Cycles">Business Cycles</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Digital Platforms">Digital Platforms</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Emerging Markets">Emerging Markets</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Market Timing">Market Timing</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Expansion">Expansion</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Diversification">Diversification</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Value">Value</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Valuation">Valuation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Value Creation">Value Creation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Investment Funds">Investment Funds</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Initial Public Offering">Initial Public Offering</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Price">Price</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Price Bubble">Price Bubble</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Negotiation Offer">Negotiation Offer</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Information Technology Industry">Information Technology Industry</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Financial Services Industry">Financial Services Industry</a></div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation2" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Mercado Bitcoin: M&A, IPO, or Series B?">Citation</a></div> <div><a href="http://hbr.org/search/825092" class="pub-extra-item black mu" aria-label="Purchase Mercado Bitcoin: M&A, IPO, or Series B?">Purchase</a></div> <div class="relatedpopout-trigger"><a href="#frRelated2" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66574" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Mercado Bitcoin: M&A, IPO, or Series B?">Related</a></div> </div> <div id="frCitation2" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Kluender, Raymond, Emanuele Colonnelli, and Sabrina Howell. "Mercado Bitcoin: M&A, IPO, or Series B?" Harvard Business School Teaching Note 825-092, November 2024.</div> <div id="frRelated2" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66639" aria-label="MiDAS: Automating Unemployment Benefits faculty & research publication detail page"> <h2 class="eta">MiDAS: Automating Unemployment Benefits</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=122194&click=byline">Shikhar Ghosh</a> and Shweta Bagai</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">November 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation3" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for MiDAS: Automating Unemployment Benefits">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/825100-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for MiDAS: Automating Unemployment Benefits">Educators</a></div> <div class="relatedpopout-trigger"><a href="#frRelated3" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66639" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about MiDAS: Automating Unemployment Benefits">Related</a></div> </div> <div id="frCitation3" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Ghosh, Shikhar, and Shweta Bagai. "MiDAS: Automating Unemployment Benefits." Harvard Business School Case 825-100, November 2024.</div> <div id="frRelated3" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66662" aria-label="Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation faculty & research publication detail page"> <h2 class="eta">Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation</h2></a><div class="nu add-underline">By: Leonardo D’Amico, Edward Glaeser, Joseph Gyourko, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=337265&click=byline">William Kerr</a> and Giacomo A. M. Ponzetto</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">2024</span> | </li> <li style="margin-right: 0px;">Working Paper | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">We document a Kuznets curve for construction productivity in 20th-century America. Homes built per construction worker remained stagnant between 1900 and 1940, boomed after World War II, and then plummeted after 1970. The productivity boom from 1940 to 1970 shows that nothing makes technological progress inherently impossible in construction. What stopped it? We present a model in which local land-use controls limit the size of building projects. This constraint reduces the equilibrium size of construction companies, reducing both scale economies and incentives to invest in innovation. Our model shows that, in a competitive industry, such inefficient reductions in firm size and technology investment are a distinctive consequence of restrictive project regulation, while classic regulatory barriers to entry increase firm size. The model is consistent with an extensive series of key facts about the nature of the construction sector. The post-1970 productivity decline coincides with increases in our best proxies for land-use regulation. The size of development projects is small today and has declined over time. The size of construction firms is also quite small, especially relative to other goods-producing firms, and smaller builders are less productive. Areas with stricter land use regulation have particularly small and unproductive construction establishments. Patenting activity in construction stagnated and diverged from other sectors. A back-of-the-envelope calculation indicates that, if half of the observed link between establishment size and productivity is causal, America’s residential construction firms would be approximately 60 percent more productive if their size distribution matched that of manufacturing.</div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation4" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation">Citation</a></div> <div style="min-width:110px;"><a href="https://www.hbs.edu/faculty/Pages/download.aspx?name=25-027.pdf" class="pub-extra-item black mu" aria-label="Read Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation Now">Read Now</a></div> <div class="relatedpopout-trigger"><a href="#frRelated4" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66662" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation">Related</a></div> </div> <div id="frCitation4" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">D’Amico, Leonardo, Edward Glaeser, Joseph Gyourko, William Kerr, and Giacomo A. M. Ponzetto. <A HREF="https://www.hbs.edu/faculty/Pages/download.aspx?name=25-027.pdf">"Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation."</A> Harvard Business School Working Paper, No. 25-027, November 2024.</div> <div id="frRelated4" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66608" aria-label="Tim Ferriss: What Might This Look Like If It Were Easy? faculty & research publication detail page"> <h2 class="eta">Tim Ferriss: What Might This Look Like If It Were Easy?</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=121451&click=byline">Reza Satchu</a> and Denise Koller</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">November 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation5" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Tim Ferriss: What Might This Look Like If It Were Easy?">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/825091-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for Tim Ferriss: What Might This Look Like If It Were Easy?">Educators</a></div> <div class="relatedpopout-trigger"><a href="#frRelated5" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66608" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Tim Ferriss: What Might This Look Like If It Were Easy?">Related</a></div> </div> <div id="frCitation5" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Satchu, Reza, and Denise Koller. "Tim Ferriss: What Might This Look Like If It Were Easy?" Harvard Business School Case 825-091, November 2024.</div> <div id="frRelated5" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66667" aria-label="Advice and the Bayesian Entrepreneur faculty & research publication detail page"> <h2 class="eta">Advice and the Bayesian Entrepreneur</h2></a><div class="nu add-underline">By: Susan Cohen and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=876389&click=byline">Rembrand Koning</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">2024</span> | </li> <li style="margin-right: 0px;">Working Paper | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">Bayesian entrepreneurship starts from the premise that entrepreneurs’ beliefs guide their theorizing, experimentation, and choices (Agrawal et al., n.d.). Since each entrepreneur has unique beliefs based on their own set of past experiences, cognitive ability, and disposition, individual entrepreneurs are likely to take different actions even if they stumble upon the same entrepreneurial opportunity. Beyond initial beliefs, Bayesian entrepreneurship is rooted in the idea that experimentation can be a valuable tool to update beliefs and improve choices. From the Bayesian perspective, any purposeful information gathering activity testing the promise of a new venture or strategy—from seeking advice to A/B tests—can be treated as a Bayesian experiment (Kerr, Nanda, and Rhodes-Kropf 2014; Agrawal et al., n.d.).</div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation6" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Advice and the Bayesian Entrepreneur">Citation</a></div> <div style="min-width:110px;"><a href="https://www.hbs.edu/faculty/Pages/download.aspx?name=25-029.pdf" class="pub-extra-item black mu" aria-label="Read Advice and the Bayesian Entrepreneur Now">Read Now</a></div> <div class="relatedpopout-trigger"><a href="#frRelated6" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66667" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Advice and the Bayesian Entrepreneur">Related</a></div> </div> <div id="frCitation6" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Cohen, Susan, and Rembrand Koning. <A HREF="https://www.hbs.edu/faculty/Pages/download.aspx?name=25-029.pdf">"Advice and the Bayesian Entrepreneur."</A> Harvard Business School Working Paper, No. 25-029, November 2024.</div> <div id="frRelated6" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66634" aria-label="Leadership and Plumbing faculty & research publication detail page"> <h2 class="eta">Leadership and Plumbing</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=126057&click=byline">Frank V. Cespedes</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">November 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Top Sales Magazine</li> </ul> <div class="shim10"></div> <div class="add-underline">“Leadership” is a growth industry. Amazon lists over 60,000 books on the topic. Most focus on emotional intelligence, charisma, avoiding narcissism (usually someone else’s problem, according to these authors, not their problem) and other personality traits. But as organizational scholar James March once put it, “Leadership involves plumbing as well as poetry.” His point was that, whatever else they do, effective leaders help busy people in their firms to deal with the business problems or opportunities they face and so increase their contributions and productivity. This is especially true when it comes to a core activity like customer acquisition and retention. But surveys indicate a growing gap between C-Suite leaders and their customer-facing people and processes. This article discusses how to establish and maintain good organizational plumbing in areas like communicating priorities and establishing a two-way process between C-Suite and front-line sales leaders.</div> <div class="shim12"></div> <div class="mu regular add-underline"><span><strong>Keywords: </strong></span><a href="/faculty/research/publications/Pages/default.aspx?q=Leadership Development">Leadership Development</a></div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation7" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Leadership and Plumbing">Citation</a></div> <div style="min-width:110px;"><a href="https://www.hbs.edu/faculty/Pages/download.aspx?name=Leadership+and+Plumbing.pdf" class="pub-extra-item black mu" aria-label="Read Leadership and Plumbing Now">Read Now</a></div> <div class="relatedpopout-trigger"><a href="#frRelated7" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66634" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Leadership and Plumbing">Related</a></div> </div> <div id="frCitation7" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Cespedes, Frank V. <A HREF="https://www.hbs.edu/faculty/Pages/download.aspx?name=Leadership and Plumbing.pdf">"Leadership and Plumbing."</A> <I>Top Sales Magazine</I> (November 2024), 26–27.</div> <div id="frRelated7" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> <div class="shim30"></div> </div> </div> </div> <div class="media" data-wcm-edit-url=""> <div class="row-left"> <div class="span99"><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=66564" aria-label="Teamworks: Tackling a Forecasting Fumble faculty & research publication detail page"> <h2 class="eta">Teamworks: Tackling a Forecasting Fumble</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=936677&click=byline">Lou Shipley</a> and Stacy Straaberg</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">October 2024</span> | </li> <li style="margin-right: 0px;">Teaching Plan | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">In late March 2018, Teamworks CEO Zach Maurides learned Q1 2018 sales were at risk for a large forecasting miss. Founded in 2004, Teamworks’s software application assisted support staff in messaging, scheduling, and sharing documents with collegiate and professional athletes. The company served 550 customers (made up of 2,000 teams), first signing collegiate sports teams and athletic departments before branching out to sports governing bodies and professional sports teams and leagues. The size of the Q1 forecasting miss was related to a still-pending contract with the National Collegiate Athletic Association (NCAA), the largest deal in Teamworks’s history. Teamworks Vice President of Sales Corey Richardson was working on a backup plan, but with little time left in the quarter, it was possible Teamworks would close Q1 with sales of $303,714 (33%) out of a $910,000 forecast. The forecasting issue was especially worrisome since Teamworks had recently earned a premium valuation during its Series B funding round and Maurides was preparing for a board of directors meeting that included Teamworks’s new lead investor. Before this point, Teamworks’s forecasts had been close to target. What had happened? And how would Maurides share the news with the board?</div> <div class="shim12"></div> <div class="mu regular add-underline"><span><strong>Keywords: </strong></span><a href="/faculty/research/publications/Pages/default.aspx?q=Acquisition">Acquisition</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Growth and Maturation">Business Growth and Maturation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Communication Strategy">Communication Strategy</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Decisions">Decisions</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Forecasting and Prediction">Forecasting and Prediction</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Cycles">Business Cycles</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Technological Innovation">Technological Innovation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Sports">Sports</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Growth and Development Strategy">Growth and Development Strategy</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Resource Allocation">Resource Allocation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Marketing">Marketing</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Sales">Sales</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business Strategy">Business Strategy</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Expansion">Expansion</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Sports Industry">Sports Industry</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Technology Industry">Technology Industry</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=United States">United States</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=North Carolina">North Carolina</a></div> <div class="shim10"></div> <div class="publication-extras-container toggle-container add-underline"> <div class="publication-extras" style="display: flex; flex-direction: row;"> <div><a href="#frCitation8" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Teamworks: Tackling a Forecasting Fumble">Citation</a></div> <div class="relatedpopout-trigger"><a href="#frRelated8" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66564" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Teamworks: Tackling a Forecasting Fumble">Related</a></div> </div> <div id="frCitation8" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Shipley, Lou, and Stacy Straaberg. "Teamworks: Tackling a Forecasting Fumble ." Harvard Business School Teaching Plan 825-003, October 2024.</div> <div id="frRelated8" class="frRelated nu has-slide" style="margin-top: 10px; display:none;"></div> </div> </div> </div> </div> <div class="shim40"></div><a href="/faculty/research/publications/Pages/default.aspx?unit=Entrepreneurial Management" class="btn-arrow-partial btn-arrow btn-right btn-large ">More Publications<span class="right"></span></a></div> <div class="tablet-rail4 mobile-rail4"></div> </div> <div class="span4 vrule-offset"> <div class="sidebar-margins"> <h3 class="kappa-uc" style="margin-top: 0px;">In the News</h3> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>15 Nov 2024</li> <li class="ash">Bloomberg Cities</li> </ul> <h4 class="kappa-uc"><a href="https://bloombergcities.jhu.edu/news/taking-ai-experimentation-next-level-cities" class="block" style="color: #2AA296;border:!px solid red;">Taking AI Experimentation to the Next Level in Cities</a></h4> <div class="nu add-underline">Re: Mitchell Weiss</div> </div> </div> </li> <li class="media"> <div class=""> <div class=""> <ul class="linear mu-uc"> <li>13 Nov 2024</li> <li class="ash">Harvard Business Review</li> </ul> <h4 class="kappa-uc"><a href="https://hbr.org/2024/11/your-employees-are-also-caregivers-heres-how-to-support-them" class="block" style="color: #2AA296;border:!px solid red;">Your Employees Are Also Caregivers. Here’s How to Support Them.</a></h4> <div class="nu add-underline">Re: Joseph Fuller & Manjari Raman</div> </div> </div> </li> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>12 Nov 2024</li> <li class="ash">HBS Working Knowledge</li> </ul> <h4 class="kappa-uc"><a href="https://hbswk.hbs.edu/item/inside-one-startups-journey-to-break-down-hiring-and-funding-barriers" class="block" style="color: #2AA296;border:!px solid red;">Inside One Startup's Journey to Break Down Hiring (and Funding) Barriers</a></h4> <div class="nu add-underline">Re: Paul Gompers</div> </div> </div> </li> </ul> <div class="more"><span class="txt-arrow" aria-hidden="true">→</span><a href="https://www.hbs.edu/news/Pages/browse.aspx?type=Faculty%20News">More Faculty News</a></div> </div> <div class="hr" style="margin:30px 0px"></div> <div class="sidebar-margins"> <h3 class="kappa-uc" style="margin-top: 0px;">HBS Working Knowledge</h3> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>12 Nov 2024</li> </ul> <h4 class="kappa-uc"><a href="https://hbswk.hbs.edu/item/inside-one-startups-journey-to-break-down-hiring-and-funding-barriers" class="block" style="color: #2AA296;border:!px solid red;">Inside One Startup's Journey to Break Down Hiring (and Funding) Barriers</a></h4> <div class="nu add-underline">Re: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6463">Paul A. Gompers</a></div> </div> </div> </li> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>05 Nov 2024</li> </ul> <h4 class="kappa-uc"><a href="https://hbswk.hbs.edu/item/building-the-road-to-small-business-utopia-with-ai-and-fintech" class="block" style="color: #2AA296;border:!px solid red;">Building the Road to 'Small Business Utopia' with AI and Fintech</a></h4> <div class="nu add-underline">Re: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=123725">Karen Mills</a></div> </div> </div> </li> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>28 Oct 2024</li> </ul> <h4 class="kappa-uc"><a href="https://hbswk.hbs.edu/item/democrats-are-losing-latino-voters-thats-not-surprising" class="block" style="color: #2AA296;border:!px solid red;">Latino Voters Have Grown More Politically Divided. That’s Not Surprising.</a></h4> <div class="nu add-underline">Re: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=736825">Vincent Pons</a> & <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1356397">Jesse M. Shapiro</a></div> </div> </div> </li> </ul> <div class="more"><span class="txt-arrow" aria-hidden="true">→</span><a href="http://hbswk.hbs.edu/">More Working Knowledge Articles</a></div> </div> <div class="hr" style="margin:30px 0px"></div> <h3 class="kappa-uc" style="margin-bottom: 22px;">Harvard Business Publishing</h3> <div class="sidebar-margins"> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class=""> <ul class="linear mu-uc"> <li>September 24, 2024</li> <li class="ash">Article</li> </ul> <h4 class="kappa-uc"><a href="https://store.hbr.org/product/4-steps-that-can-optimize-your-sales-process/h08em6?sku=H08EM6-PDF-ENG" class="block" style="color: #2AA296;border:!px solid red;">4 Steps That Can Optimize Your Sales Process</a></h4> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=126057&click=byline">Frank V. Cespedes</a>, Scott Peterson and Daniel Weinfurter</div> </div> </div> </li> </ul> </div> <div class="sidebar-margins"> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class=""> <ul class="linear mu-uc"> <li>September 2024</li> <li class="ash">Case</li> </ul> <h4 class="kappa-uc"><a href="http://hbr.org/search/825046" class="block" style="color: #2AA296;border:!px solid red;">Xendit: Hiring for Growth</a></h4> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6536&click=byline">Jeffrey F. Rayport</a>, Steve Castano, Quoc Anh Nguyen and Claire Wu</div> </div> </div> </li> </ul> </div> <div class="sidebar-margins"> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class=""> <ul class="linear mu-uc"> <li>2014</li> <li class="ash">Book</li> </ul> <h4 class="kappa-uc"><a href="http://hbr.org/product/aligning-strategy-and-sales-the-choices-systems-and-behaviors-that-drive-effective-selling/an/11964-HBK-ENG" class="block" style="color: #2AA296;border:!px solid red;">Aligning Strategy and Sales: The Choices, Systems, and Behaviors That Drive Effective Selling</a></h4> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=126057&click=byline">Frank V. Cespedes</a></div> </div> </div> </li> </ul> </div> <div class="more"><span class="txt-arrow">→</span><a href="http://harvardbusiness.org/">More Harvard Business Publishing</a></div> <div class="hr" style="margin:30px 0px"></div> <h3 class="kappa-uc" style="margin-bottom: 22px;">Seminars & Conferences</h3> <div data-wcm-edit-url="" class="legacy-event-partial"> <div style="display:flex"> <div style="flex-wrap:wrap; margin-right:18px;"> <div class="event-thumbnail-partial legacy"><a href="https://mgmt.wharton.upenn.edu/profile/mbidwell/" class="event-thumbnail no-append no-pdf-hover">Dec<span> 04</span></a></div> </div> <div style="flex-wrap: wrap"> <ul class="linear mu-uc"> <li class="ink">04 Dec 2024</li> </ul> <h3 class="kappa" style="margin-top:0px;"><a href="https://mgmt.wharton.upenn.edu/profile/mbidwell/" class="hbsred">Matthew Bidwell, The Wharton School, The University of Pennsylvania</a></h3> <div class="shim5"></div> <div class="mu regular add-underline">Entrepreneurial Management Seminar</div> </div> </div> </div> <div class="more" style="margin-top:24px;"><span class="txt-arrow">→</span><a href="/faculty/units/em/Pages/events.aspx">More Seminars & Conferences</a></div> <div class="hr" style="margin-top:30px"></div> <div class="shim30"></div> <div class="reusable-sidebar-1" data-wcm-edit-url="/faculty/Lists/Sidebars/EditForm.aspx?ID=1"> <div class="inherit-light-bg sidebar-block edit-hidden" style="padding:18px 20px 20px 20px;"> <h3 class="eta bold2">Faculty Positions</h3> <div class="shim10"></div> <div class="nu">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.</div> <div class="shim20"></div> <div class="more " style=""><span class="black" style="margin-right:4px;height:11px;margin-top:2px;" aria-hidden="true">→</span><a href="/faculty/Pages/positions.aspx" class="black" aria-label="Learn more about faculty positions">Learn More</a></div> </div> </div> <div class="shim30"></div> <div class="hr"></div> <div class="shim30"></div> <div class="sidebar-list" data-wcm-edit-url=""> <h3 class="kappa-uc" style="margin-bottom:5px;">Contact Information</h3> <div class="shim10"></div> <p>Entrepreneurial Management Unit<br> Harvard Business School<br> Rock Center<br> Soldiers Field<br> Boston, MA 02163<br> <a href="mailto:EM@hbs.edu" target="_blank">EM@hbs.edu</a> </p> </div> </div> </div> </div> <div class="base mobile-base tablet-base"></div> <div class="vrule-gutter-base desktop-visible"></div> </div> </main> </div>  <div class="clear"></div> </div> <div class="back-to-top"><a href="#" class="icon-back-to-top" aria-label="Scroll back to top of page"></a></div><footer role="contentinfo"> <div class="universal-footer noindex" data-feature="universal-footer"> <div class="color-framework grid-framework type-framework component-framework pattern-framework js-framework responsive-framework"> <div class="black-bg link-controller white universal-footer-v3 responsive-type"> <div class="container tablet-container mobile-container"> <div class="shim48 desktop-visible"></div> <div class="shim36 tablet-visible"></div> <div class="shim28 mobile-visible"></div> <div class="hidden">ǁ</div> <div class="row tablet-row mobile-flip crawler-noindex"> <div class="span6 mobile-span6 tablet-span7 mobile-stacks"> <div class="shim2 mobile-visible"></div> <div class="hr white-bg mobile-visible" style="margin-left:0;"></div> <div class="shim34 mobile-visible"></div> <div class="row-left"> <div class="span2 mobile-span1"><a href="https://www.hbs.edu/maps/" id="header-map-pic-tablet" class="default-map-link"><img loading="lazy" width="172" height="160" class="white-stroke4 fluid nowarn" src="https://webassets.hbs.edu/templates/headers/images/footer_baker_172x160.jpg" alt="Campus Map"></a><div class="shim17"></div> </div> <div class="span99 address-block"> Harvard Business School<br> Soldiers Field<br> Boston, MA 02163<br><div class="shim6"></div> <div class="more"> <div class="shim6"></div><span class="txt-arrow" aria-hidden="true">→</span><a href="https://www.hbs.edu/maps/" id="footer-maps" class="default-map-link">Map & Directions</a></div> <div class="more mu"> <div class="shim6"></div><span class="txt-arrow" aria-hidden="true">→</span><a href="https://www.hbs.edu/about/Pages/contact.aspx">More Contact Information</a></div> <div class="shim17 desktop-visible"></div> <div class="shim23 tablet-visible"></div> </div> </div> </div> <div class="span6 tablet-span5 mobile-span6 mobile-flip-up"> <ul class="social-grid new-grid inherit-color-on-hover"> <li class="fb"><a href="https://www.facebook.com/pages/Boston-MA/Harvard-Business-School/66459568171/" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="Facebook"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:9px;left:8px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="30" height="30" viewBox="0 0 100 100" version="1.1" focusable="false"> <g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"> <g id="Facebook" fill-rule="nonzero" fill="currentColor"> <path d="M71.644898,50.0163265 L57.6285714,50.0163265 L57.6285714,99.9265306 L36.8938776,99.9265306 L36.8938776,50.0163265 L27.0244898,50.0163265 L27.0244898,32.3673469 L36.8938776,32.3673469 L36.8938776,20.922449 C36.8938776,12.7510204 40.7714286,0.00816326531 57.8408163,0.00816326531 L73.2204082,0.0653061224 L73.2204082,17.2 L62.044898,17.2 C60.2326531,17.2 57.6530612,18.1061224 57.6530612,22.0163265 L57.6530612,32.3673469 L73.4571429,32.3673469 L71.644898,50.0163265 Z"/> </g> </g></svg></div></a></li> <li class="twitter"><a href="https://twitter.com/HarvardHBS" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="Twitter"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:11px;left:11px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:cc="http://creativecommons.org/ns#" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" height="27" width="27" viewBox="0 0 300.00006 244.18703" version="1.1" class="onhover-container twitter-icon" focusable="false"> <g transform="translate(-539.18 -568.86)" fill="currentColor" class="inherit-fill-onhover"> <path d="m633.9 812.04c112.46 0 173.96-93.168 173.96-173.96 0-2.6463-0.0539-5.2806-0.1726-7.903 11.938-8.6302 22.314-19.4 30.498-31.66-10.955 4.8694-22.744 8.1474-35.111 9.6255 12.623-7.5693 22.314-19.543 26.886-33.817-11.813 7.0031-24.895 12.093-38.824 14.841-11.157-11.884-27.041-19.317-44.629-19.317-33.764 0-61.144 27.381-61.144 61.132 0 4.7978 0.5364 9.4646 1.5854 13.941-50.815-2.5569-95.874-26.886-126.03-63.88-5.2508 9.0354-8.2785 19.531-8.2785 30.73 0 21.212 10.794 39.938 27.208 50.893-10.031-0.30992-19.454-3.0635-27.69-7.6468-0.009 0.25652-0.009 0.50661-0.009 0.78077 0 29.61 21.075 54.332 49.051 59.934-5.1376 1.4006-10.543 2.1516-16.122 2.1516-3.9336 0-7.766-0.38716-11.491-1.1026 7.7838 24.293 30.355 41.971 57.115 42.465-20.926 16.402-47.287 26.171-75.937 26.171-4.929 0-9.7983-0.28036-14.584-0.84634 27.059 17.344 59.189 27.464 93.722 27.464"/> </g></svg></div></a></li> <li class="youtube"><a href="https://www.youtube.com/user/HarvardBSchool/" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="YouTube"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:11px;left:11px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="27" height="27" viewBox="0 0 100 100" version="1.1" focusable="false"> <g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"> <g id="Youtube" fill-rule="nonzero" fill="currentColor"> <path d="M95.8333333,27.5 C94.7048223,23.4555714 91.5444286,20.2951777 87.5,19.1666667 C80.0416667,17.1666667 50,17.1666667 50,17.1666667 C50,17.1666667 20.0416667,17.125 12.5,19.1666667 C8.45557138,20.2951777 5.29517772,23.4555714 4.16666667,27.5 C2.7520054,35.1404545 2.05452793,42.896404 2.08333333,50.6666667 C2.05971215,58.4090998 2.75716792,66.1369098 4.16666667,73.75 C5.29517772,77.7944286 8.45557138,80.9548223 12.5,82.0833333 C19.9583333,84.0833333 50,84.0833333 50,84.0833333 C50,84.0833333 79.9583333,84.0833333 87.5,82.0833333 C91.5444286,80.9548223 94.7048223,77.7944286 95.8333333,73.75 C97.2148875,66.1342926 97.8844432,58.4065038 97.8333333,50.6666667 C97.8896269,42.8990092 97.2200504,35.143081 95.8333333,27.5 Z M40.4166667,65 L40.4166667,36.2916667 L65.4166667,50.6666667 L40.4166667,65 Z"/> </g> </g></svg></div></a></li> <li class="linkedin"><a href="https://www.linkedin.com/company/4867" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="LinkedIn"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:12px;left:13px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="23" height="23" viewBox="0 0 100 100" version="1.1" class="onhover-container" focusable="false"> <g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"> <g fill-rule="nonzero" fill="currentColor" class="linkedin inherit-fill-onhover"> <path d="M24.4043689,12.3014563 C24.4043689,19.0956311 18.9412621,24.6031553 12.2021845,24.6031553 C5.4631068,24.6031553 0,19.0956311 0,12.3014563 C-1.72461829e-15,5.50752427 5.4631068,0 12.2021845,0 C18.9415049,0 24.4043689,5.50752427 24.4043689,12.3014563 Z M22.618932,33.3332524 L1.98373786,33.3332524 L1.98373786,100 L22.618932,100 L22.618932,33.3332524 L22.618932,33.3332524 Z M55.6046117,33.3332524 L35.8131068,33.3332524 L35.8131068,100 L55.6046117,100 C55.6046117,100 55.6046117,75.2725728 55.6046117,65.0046117 C55.6046117,55.6298544 59.9199029,50.0495146 68.1791262,50.0495146 C75.7684466,50.0495146 79.4143204,55.4065534 79.4143204,65.0046117 C79.4143204,74.6029126 79.4143204,100 79.4143204,100 L99.9495146,100 C99.9495146,100 99.9495146,75.6446602 99.9495146,57.7876214 C99.9495146,39.9305825 89.8308252,31.2995146 75.6936893,31.2995146 C61.5565534,31.2995146 55.6043689,42.3114078 55.6043689,42.3114078 L55.6043689,33.3332524 L55.6046117,33.3332524 Z" class="linkedin-icon"/> </g> </g></svg></div></a></li> <li class="default instagram"><a href="https://instagram.com/harvardhbs" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="Instagram"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:11px;left:11px;"><svg xmlns="http://www.w3.org/2000/svg" width="26" height="26" style="black-fill" viewBox="0 0 100 100" version="1.1" focusable="false"> <path fill="currentColor" d="M50,0 C36.4166667,0 34.7208333,0.0625 29.3875,0.3 C24.0625,0.55 20.4375,1.3875 17.25,2.625 C13.9625,3.9 11.1708333,5.6125 8.39166667,8.39166667 C5.6125,11.1708333 3.89583333,13.9583333 2.625,17.25 C1.3875,20.4375 0.545833333,24.0625 0.3,29.3875 C0.05,34.7208333 0,36.4166667 0,50 C0,63.5833333 0.0625,65.2791667 0.3,70.6125 C0.55,75.9333333 1.3875,79.5625 2.625,82.75 C3.9,86.0333333 5.6125,88.8291667 8.39166667,91.6083333 C11.1708333,94.3833333 13.9583333,96.1041667 17.25,97.375 C20.4416667,98.6083333 24.0666667,99.4541667 29.3875,99.7 C34.7208333,99.95 36.4166667,100 50,100 C63.5833333,100 65.2791667,99.9375 70.6125,99.7 C75.9333333,99.45 79.5625,98.6083333 82.75,97.375 C86.0333333,96.1 88.8291667,94.3833333 91.6083333,91.6083333 C94.3833333,88.8291667 96.1041667,86.0458333 97.375,82.75 C98.6083333,79.5625 99.4541667,75.9333333 99.7,70.6125 C99.95,65.2791667 100,63.5833333 100,50 C100,36.4166667 99.9375,34.7208333 99.7,29.3875 C99.45,24.0666667 98.6083333,20.4333333 97.375,17.25 C96.1,13.9625 94.3833333,11.1708333 91.6083333,8.39166667 C88.8291667,5.6125 86.0458333,3.89583333 82.75,2.625 C79.5625,1.3875 75.9333333,0.545833333 70.6125,0.3 C65.2791667,0.05 63.5833333,0 50,0 Z M50,9 C63.3458333,9 64.9375,9.06666667 70.2083333,9.29583333 C75.0833333,9.525 77.7291667,10.3333333 79.4875,11.025 C81.8291667,11.9291667 83.4875,13.0125 85.2458333,14.7583333 C86.9916667,16.5083333 88.075,18.1708333 88.9791667,20.5125 C89.6625,22.2708333 90.4791667,24.9166667 90.7,29.7916667 C90.9375,35.0666667 90.9916667,36.65 90.9916667,50 C90.9916667,63.35 90.9291667,64.9375 90.6833333,70.2083333 C90.4291667,75.0833333 89.6166667,77.7291667 88.9291667,79.4875 C87.9958333,81.8291667 86.9333333,83.4875 85.1833333,85.2458333 C83.4375,86.9916667 81.75,88.075 79.4333333,88.9791667 C77.6833333,89.6625 74.9958333,90.4791667 70.1208333,90.7 C64.8125,90.9375 63.25,90.9916667 49.875,90.9916667 C36.4958333,90.9916667 34.9333333,90.9291667 29.6291667,90.6833333 C24.75,90.4291667 22.0625,89.6166667 20.3125,88.9291667 C17.9416667,87.9958333 16.3125,86.9333333 14.5666667,85.1833333 C12.8125,83.4375 11.6916667,81.75 10.8166667,79.4333333 C10.1291667,77.6833333 9.32083333,74.9958333 9.06666667,70.1208333 C8.87916667,64.8708333 8.8125,63.25 8.8125,49.9375 C8.8125,36.6208333 8.87916667,34.9958333 9.06666667,29.6833333 C9.32083333,24.8083333 10.1291667,22.125 10.8166667,20.375 C11.6916667,18 12.8125,16.375 14.5666667,14.6208333 C16.3125,12.875 17.9416667,11.75 20.3125,10.8791667 C22.0625,10.1875 24.6916667,9.375 29.5666667,9.125 C34.8791667,8.9375 36.4416667,8.875 49.8125,8.875 L50,9 L50,9 Z M50,24.325 C35.8125,24.325 24.325,35.825 24.325,50 C24.325,64.1875 35.825,75.675 50,75.675 C64.1875,75.675 75.675,64.175 75.675,50 C75.675,35.8125 64.175,24.325 50,24.325 Z M50,66.6666667 C40.7916667,66.6666667 33.3333333,59.2083333 33.3333333,50 C33.3333333,40.7916667 40.7916667,33.3333333 50,33.3333333 C59.2083333,33.3333333 66.6666667,40.7916667 66.6666667,50 C66.6666667,59.2083333 59.2083333,66.6666667 50,66.6666667 Z M82.6916667,23.3125 C82.6916667,26.625 80,29.3125 76.6916667,29.3125 C73.3791667,29.3125 70.6916667,26.6208333 70.6916667,23.3125 C70.6916667,20.0041667 73.3833333,17.3166667 76.6916667,17.3166667 C79.9958333,17.3125 82.6916667,20.0041667 82.6916667,23.3125 Z"/></svg></div></a></li> <li class="default itunes"><a href="https://itunes.apple.com/us/podcast/cold-call/id1156646189" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="Itunes"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:10px;left:10px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="27" height="27" viewBox="0 0 170 170" version="1.1" focusable="false"> <path fill="currentColor" d="m150.37 130.25c-2.45 5.66-5.35 10.87-8.71 15.66-4.58 6.53-8.33 11.05-11.22 13.56-4.48 4.12-9.28 6.23-14.42 6.35-3.69 0-8.14-1.05-13.32-3.18-5.197-2.12-9.973-3.17-14.34-3.17-4.58 0-9.492 1.05-14.746 3.17-5.262 2.13-9.501 3.24-12.742 3.35-4.929 0.21-9.842-1.96-14.746-6.52-3.13-2.73-7.045-7.41-11.735-14.04-5.032-7.08-9.169-15.29-12.41-24.65-3.471-10.11-5.211-19.9-5.211-29.378 0-10.857 2.346-20.221 7.045-28.068 3.693-6.303 8.606-11.275 14.755-14.925s12.793-5.51 19.948-5.629c3.915 0 9.049 1.211 15.429 3.591 6.362 2.388 10.447 3.599 12.238 3.599 1.339 0 5.877-1.416 13.57-4.239 7.275-2.618 13.415-3.702 18.445-3.275 13.63 1.1 23.87 6.473 30.68 16.153-12.19 7.386-18.22 17.731-18.1 31.002 0.11 10.337 3.86 18.939 11.23 25.769 3.34 3.17 7.07 5.62 11.22 7.36-0.9 2.61-1.85 5.11-2.86 7.51zm-31.26-123.01c0 8.1021-2.96 15.667-8.86 22.669-7.12 8.324-15.732 13.134-25.071 12.375-0.119-0.972-0.188-1.995-0.188-3.07 0-7.778 3.386-16.102 9.399-22.908 3.002-3.446 6.82-6.3113 11.45-8.597 4.62-2.2516 8.99-3.4968 13.1-3.71 0.12 1.0831 0.17 2.1663 0.17 3.2409z"/></svg></div></a></li> <li><a href="https://www.tiktok.com/@harvardhbs?lang=en" class="block inherit-color-onhover" style="text-decoration:none;position:relative;height:48px;width:48px;" aria-label="TikTok"><svg xmlns="http://www.w3.org/2000/svg" width="48px" height="48px" viewBox="0 0 110 110" version="1.1" focusable="false"> <circle cx="55" cy="55" r="50" stroke-width="6" stroke="currentColor"/></svg><div style="position:absolute;top:2px;left:3px;"><svg xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="43" height="43" version="1.1" id="tik_tok" x="0px" y="0px" viewBox="0 0 96 96" xml:space="preserve"> <g id="TikTok" fill-rule="nonzero" fill="currentColor"> <g> <path d="M66.9,29.6c-3.3-2.2-5.8-5.7-6.5-9.7c-0.2-0.9-0.3-1.8-0.3-2.7H49.4l0,42.7c-0.2,4.8-4.1,8.6-8.9,8.6 c-1.5,0-2.9-0.4-4.2-1c-2.9-1.5-4.8-4.5-4.8-7.9c0-4.9,4-9,9-9c0.9,0,1.8,0.2,2.6,0.4v-8.4v-2.5c-0.9-0.1-1.7-0.2-2.6-0.2 c-10.8,0-19.6,8.8-19.6,19.6c0,6.6,3.3,12.5,8.4,16.1c3.2,2.2,7.1,3.6,11.2,3.6c10.8,0,19.6-8.8,19.6-19.6V37.9 c4.2,3,9.3,4.8,14.8,4.8v-8.3V32C72,32,69.2,31.1,66.9,29.6z"/> </g> </g> </svg></div></a></li> </ul> <ul class="social-grid new-grid inherit-color-on-hover"> <li class="default more white" style="box-sizing:border-box;height:30px;padding-top: 5px;padding-left: 1px;"> <div class="button-partial"><a href="https://community.alumni.harvard.edu/give/16040805?appealcode=BW004" class="button hbsred-bg white white-bg-onhover hbsred-onhover hbsred-onhover-border eta regular" style="border: 2px solid #A41034; border: 1px solid white; display:inline-block; padding: 3px 3px; text-decoration: none; min-width: 176px; box-sizing: border-box;text-align:center;">Make a Gift</a></div> </li> </ul> </div> </div> <div class="shim17"></div> <div class="shim15 mobile-visible"></div> </div> <div class="universal-footer-copyright"> <div class="container tablet-container mobile-container nu"> <div class="shim12"></div> <div> <ul class="linear footer-links"> <li><a class="footer-sitemap" data-link-id="footer-sitemap" href="https://www.hbs.edu/siteindex/">Site Map</a></li> <li><a class="footer-employment" data-link-id="footer-employment" href="https://www.hbs.edu/employment/">Jobs</a></li> <li><a class="footer-harvard" data-link-id="footer-harvard" href="https://www.harvard.edu/">Harvard University</a></li> <li><a class="footer-trademarks" data-link-id="footer-trademarks" href="https://trademark.harvard.edu/pages/trademark-notice/">Trademarks</a></li> <li><a class="footer-policy" data-link-id="footer-policy" href="https://www.hbs.edu/about/campus-and-culture/policies/Pages/default.aspx">Policies</a></li> <li><a class="footer-accessibility-harvard" data-link-id="footer-accessibility-harvard" href="https://accessibility.harvard.edu/">Accessibility</a></li> <li><a class="footer-accessibility" data-link-id="footer-accessibility" href="https://accessibility.huit.harvard.edu/digital-accessibility-policy">Digital Accessibility</a></li> </ul> <div class="shim12"></div> <div class="copy-msg">Copyright <span aria-hidden="true">©</span> President & Fellows of Harvard College.</div> </div> </div> </div> </div> </div> </div> </footer> <script type="text/javascript" src="https://webassets.hbs.edu/libs/jquery/1.8.3/jquery.min.js"></script><script type="text/javascript" src="https://webassets.hbs.edu/libs/framework/1.0/js/framework.min.js"></script><script type="text/javascript" src="https://webassets.hbs.edu/libs/analytics/1.0/analytics-disabled.min.js"></script><script>window.assets = "https://webassets.hbs.edu"</script><script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-N2NWNWX');</script><script>window.IgnoreAnalyticsOverlay = true</script><script src="/faculty/js/faculty.js" type="text/javascript"></script><script> jQuery(function($){ if (window.headerinit) return; window.headerinit = 1; function toggleSearch(){ var $el = $('.universal-banner-search-toggle'); var val = $('.universal-banner-search-input .universal-site-search-query').val(); if ($el.hasClass('toggled') && $.trim(val)) { $('.universal-banner-search-input .universal-site-search-button').click() return; } $el.toggleClass('toggled'); if ($el.hasClass('toggled')) { window.setTimeout(function(){ $('.universal-site-search-query').focus(); },300) } $('.universal-banner-search-input').toggleClass('open'); } $(document).on('click','.universal-banner-search-toggle',function(){ toggleSearch(this); return false; }) $(".universal-banner-search-toggle").on("click",function(){ toggleSearch(this); return false; }) $(".slider-container").on('close',function(){ $(".universal-banner-hamburger").removeClass('open'); $(".universal-banner-menu-toggle").removeClass('toggled'); $("body").removeClass('slider-is-open'); }) $(document).on("click",".universal-banner-menu-toggle",function(){ if ($(this).hasClass('toggled')) { $('.slider-close').eq(0).click(); $(".universal-banner-hamburger").removeClass('open'); $(".universal-banner-menu-toggle").removeClass('toggled'); $("body").removeClass('slider-is-open'); } else { $('.slider-open').eq(0).click(); $("body").addClass('slider-is-open'); $('.universal-banner-hamburger').addClass('open'); $(".universal-banner-menu-toggle").addClass('toggled'); } //window.scrollTo(0,0); return false; }) $(".skipto").on("click",function(){ console.log("skip to main content"); $($(this).attr('href')).get(0).focus(); }) }); $(document).on( 'framework.resize', function() { // wait .1 seconds because the classes needed to adjust the min/max height haven't been added at this point // TODO: this is a bit kludgey and should be revisited setTimeout( function() { if (window.stickyHeader) { stickyHeader.setMinHeight(); stickyHeader.setMaxHeight(); stickyHeader.triggerExpand(); if ($(".page-header").hasClass('page-header-online')) { stickyHeader.triggerDisappear(); } } }, 100 ); }); function StickyHeader(){ this.hasScrolled = false; this.lastScrollTop = -1; this.currentHeight = 0; this.isVisible = false; this.disabled = false; this.velocitySamples = []; this.debug = $("#sticky-header-debug"); this.buildHeader(); this.setMinHeight(); this.setMaxHeight(); } StickyHeader.prototype.temporarilyDisabled = function() { this.disabled = true; var self = this; window.setTimeout(function(){ self.disabled = false; },500); } /* determine if the header navigation should be displayed while the user is scrolling down */ StickyHeader.prototype.setMinHeight = function() { // if the screen width is within the mobile or tablet range, hide the navigation on scroll, otherwise, show it if ($(".page-header").hasClass('page-header-online') && $( '.ua-mobile, .ua-tablet' ).length) { this.minHeight = 40; } else if ($(".page-header").hasClass('page-header-online')) { this.minHeight = 90; } else if ($( '.ua-mobile, .ua-tablet' ).length) { this.minHeight = 0; } else { this.minHeight = 40 } } /* determine how big the header should be when the user starts to scroll up */ StickyHeader.prototype.setMaxHeight = function() { // clear out the current max height this.maxHeight = 0; // add up the heights of the cloned stiky header elements as the new max height $( '.sticky-header-cloned' ).each( function( index, element ) { this.maxHeight += $( element ).height(); }.bind( this ) ); // Override for HBS online if($(".page-header").hasClass('page-header-online')) { if ($( '.ua-mobile, .ua-tablet' ).length > 0) { this.maxHeight = 0; } else { this.maxHeight = 90; } } } StickyHeader.prototype.buildHeader = function() { var headerHeight = $(".page-header").height(); // Override for HBS online if($(".page-header").hasClass('page-header-online')) { headerHeight = 0; } this.appearsAt = $(".page-header").offset().top + headerHeight; this.sticky = $('<div id="sticky-header" style="height:0; top: -5px;"></div>'); this.stickyWrap = $('<div class="wrapper"></div>'); var container = $(".site-header").parents('.grid-framework'); $( '.universal-banner, .site-header' ).each( function( index, element ) { this.stickyWrap.append( $( element ).clone() ); $( element ).addClass( 'sticky-header-cloned' ); }.bind( this ) ); this.sticky.append(this.stickyWrap); $(".sticky-header-container").append(this.sticky); } StickyHeader.prototype.triggerDisappear = function(){ this.sticky.addClass('at-scroll-top'); this.isVisible = false; this.currentHeight = 0; this.sticky.css('height',this.currentHeight); $("body").removeClass("sticky-header-active"); $("body").removeClass('sticky-header-expanded'); } StickyHeader.prototype.triggerAppear = function(){ if ($("body").hasClass('slider-is-open')) return; this.isVisible = true; $("body").addClass("sticky-header-active"); } StickyHeader.prototype.triggerExpand = function(){ if (this.disabled) return; if ($("body").hasClass('slider-is-open')) return; if (this.currentHeight == this.maxHeight) return; this.sticky.css('height',this.maxHeight-1); this.currentHeight = this.maxHeight; $("body").addClass('sticky-header-expanded'); } StickyHeader.prototype.triggerShrink = function(){ if ($( '.ua-mobile, .ua-tablet' ).length == 0 || !$(".page-header").hasClass('page-header-online')) { this.sticky.removeClass('at-scroll-top'); } var self = this; window.requestAnimationFrame(function(){ var newHeight = 0; if (self.isVisible) { newHeight = self.minHeight; } if (self.currentHeight == newHeight) return; self.sticky.css('height',newHeight); self.currentHeight = newHeight; $("body").removeClass('sticky-header-expanded'); }) } StickyHeader.prototype.redraw = function() { // This is costly to performance but unavoidable //const pageY = window.scrollY; //This throws a syntax error in IE11. var pageY = window.pageYOffset; var scrollUp = pageY < this.lastScrollTop; var scrollDistance = pageY - this.lastScrollTop; this.velocitySamples.push(Math.abs(scrollDistance)); if (this.velocitySamples.length > 10) { this.velocitySamples.shift(); } var totalDistance = 0; for (var i = 0;i<this.velocitySamples.length;i++){ totalDistance += this.velocitySamples[i]; } var velocity = totalDistance / this.velocitySamples.length; var debugVars = {}; if (pageY != this.lastScrollTop) { debugVars.pageY = pageY; debugVars.minHeight = this.minHeight; debugVars.maxHeight = this.maxHeight; debugVars.appearsAt = this.appearsAt; debugVars.velocity = velocity; debugVars.disabled = this.disabled; var html = ''; $.each(debugVars,function(k,v){ html += '<div>' + k + ': '+v +'</div>'; }) this.debug.html(html); if (pageY >= this.appearsAt) { this.triggerAppear(); } if ($(".page-header").hasClass('page-header-online') && $('.table-of-contents-wrapper').length && $('.table-of-contents-wrapper.jump-to').length == 0){ var tocWrap = $('.table-of-contents-wrapper'); var toc = tocWrap.children('.table-of-contents'); var tocItems = toc.find('.toc-item'); var stickyHeight = this.maxHeight; if ((pageY + stickyHeight) > tocWrap.offset().top && !toc.hasClass('sticky')) { toc.addClass('sticky'); } else if ((pageY + stickyHeight) <= tocWrap.offset().top && toc.hasClass('sticky')) { toc.removeClass('sticky'); } if (toc.hasClass('sticky')) { tocItems.each(function( index ) { var section = $($(this).children("a.toc-jump").attr("href")); if (section.length) { var sectionTop = section.offset().top - 45; var pageHeight = pageY + stickyHeight + toc.height(); if ((pageHeight > sectionTop) && !$(this).hasClass('current')) { tocItems.removeClass('current'); $(this).addClass('current'); } else if ((pageHeight <= sectionTop) && $(this).hasClass('current')) { $(this).removeClass('current'); } } }); } } if (pageY <= 0) { this.triggerDisappear(); } else if (scrollUp) { console.log('scroll up'); if ($(".page-header").hasClass('page-header-online') && pageY < (this.appearsAt - this.maxHeight)) { this.triggerDisappear(); } else if (velocity > 5 || pageY < this.appearsAt) { this.triggerExpand(); } } else if (pageY > this.appearsAt) { // If HBS online and mobile hide the sticky header if ($(".page-header").hasClass('page-header-online') && $( '.ua-mobile, .ua-tablet' ).length > 0) { this.triggerDisappear(); } this.triggerShrink(); } this.lastScrollTop = pageY; } this.hasScrolled = false; }; var _domready = _domready || []; _domready.push(function(){ if (document.getElementById('wcm-react-root')) return; if (window.stickyHeaderDisabled) return; window.stickyHeader = new StickyHeader(); var _onScroll = function () { if (!window.stickyHeader.hasScrolled) { window.requestAnimationFrame(function(){ window.stickyHeader.redraw(); }); } window.stickyHeader.hasScrolled = true; window.requestAnimationFrame(_onScroll); }; _onScroll(); //without this, the header flickers on online window.setTimeout(function(){ _onScroll(); },250) $(document).on('delay-sticky-nav',function(){ window.stickyHeader.temporarilyDisabled(); }) // needed for facet pages http://www.hbs.edu/news/Pages/default.aspx $(document).on('click',".facetctrl-sticky.active",function(){ $(document).trigger('delay-sticky-nav'); }) $(document).on('click',".filter-sticky.fixed",function(){ $(document).trigger('delay-sticky-nav'); }) }); </script> </body> </html>

CINXE.COM

Entrepreneurial Management - Faculty & Research - Harvard Business School