Social Enterprise - Faculty & Research - Harvard Business School

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href="/faculty/topics/Pages/social-enterprise.aspx" class="ink" aria-current="page">Social Enterprise</a><span class="txt-arrow" aria-hidden="true">→</span></li> </ul> <div class="row"> <div class="span12"> <h1 class="alpha light black mobile-hidden tablet-hidden"><span data-wcm-edit-node="Title">Social Enterprise</span></h1> <h1 class="alpha regular black desktop-hidden" style="margin: 0;">Social Enterprise</h1> </div> </div> <div class="row tablet-row"> <div class="span11"> <div class=""> <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" style="xborder:1px solid red;"> <div class="container tablet-container mobile-container vrule9" data-wcm-edit-url="/faculty/Lists/Topics/EditForm.aspx?ID=19"> <div class="row tablet-row mobile-row"> <div class="span9 tablet-span9"> <div class="research-hero sidebar"> <div class="inherit-bg"> <div class=""> <div class="carousel-container"> <ul class="carousel-panels"> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://pubwww.hbs.edu/faculty/PublishingImages/magnify.svg" class="fluid stroke4 white-border inherit-bg" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li>April 2013</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=42176" class="no-append"> <h2 class="delta">Who Is Governing Whom? Executives, Governance, and the Structure of Generosity in Large U.S. Firms</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Christopher Marquis and Matthew Lee</div> <div class="shim12"></div> <p class="trim-ellipsis">We examine how organizational structure influences strategies over which corporate leaders have significant discretion. Corporate philanthropy is our setting to study how a differentiated structural element—the corporate foundation—constrains the influence of individual senior managers and directors on corporate strategy. Our analysis of Fortune 500 firms from 1996 to 2006 shows that leader characteristics at both the senior management and director levels affect corporate philanthropic contributions. We also find that organizational structure constrains the philanthropic influence of board members but not of senior managers, a result that is contrary to what existing theory would predict. We discuss how these findings advance understanding of how organizational structure and corporate leadership interact and of how organizations can more effectively realize the strategic value of corporate social responsibility activities.</p> </div> </div> </div> <div class="row-left tablet-visible mobile-visible"> <div class="span1 sidebar-image"><img loading="lazy" src="https://pubwww.hbs.edu/faculty/PublishingImages/magnify.svg" class="fluid stroke4 white-border inherit-bg" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>April 2013</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=42176" class="no-append"> <h2 class="beta">Who Is Governing Whom? Executives, Governance, and the Structure of Generosity in Large U.S. Firms</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Christopher Marquis and Matthew Lee</div> <div class="shim12"></div> <p>We examine how organizational structure influences strategies over which corporate leaders have significant discretion. Corporate philanthropy is our setting to study how a differentiated structural element—the corporate foundation—constrains the influence of individual senior managers and directors on corporate strategy. Our analysis of Fortune...</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=15705" class="fluid stroke4 white-border" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=43095" class="no-append"> <h2 class="delta">Corporate Social Responsibility and Access to Finance</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Beiting Cheng, Ioannis Ioannou and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=15705&click=byline">George Serafeim</a></div> <div class="shim12"></div> <p class="trim-ellipsis">In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder engagement and b) reduced informational asymmetry due to increased transparency. Using a large cross-section of firms, we find that firms with better CSR performance face significantly lower capital constraints. Moreover, we provide evidence that both of the hypothesized mechanisms, better stakeholder engagement and transparency around CSR performance, are important in reducing capital constraints. The results are further confirmed using an instrumental variables and a simultaneous equations approach. Finally, we show that the relation is driven by both the social and the environmental dimension of CSR.</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=15705" class="fluid stroke4 white-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=43095" class="no-append"> <h2 class="beta">Corporate Social Responsibility and Access to Finance</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Beiting Cheng, Ioannis Ioannou and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=15705&click=byline">George Serafeim</a></div> <div class="shim12"></div> <p>In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder engagement and b) reduced informational asymmetry due to increased transparency....</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=6535" class="fluid stroke4 white-border" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li>Spring 2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47515" class="no-append"> <h2 class="delta">What Impact? A Framework for Measuring the Scale & Scope of Social Performance</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Alnoor Ebrahim and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6535&click=byline">V. Kasturi Rangan</a></div> <div class="shim12"></div> <p class="trim-ellipsis">Organizations with social missions, such as nonprofits and social enterprises, are under growing pressure to demonstrate their impacts on pressing societal problems such as global poverty. This article draws on several cases to build a performance assessment framework premised on an organization's operational mission, scale, and scope. Not all organizations should measure their long-term impact, defined as lasting changes in the lives of people and their societies. Rather, some organizations would be better off measuring shorter-term outputs or individual outcomes. Funders such as foundations and impact investors are better positioned to measure systemic impacts.</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=6535" class="fluid stroke4 white-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>Spring 2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47515" class="no-append"> <h2 class="beta">What Impact? A Framework for Measuring the Scale & Scope of Social Performance</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Alnoor Ebrahim and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6535&click=byline">V. Kasturi Rangan</a></div> <div class="shim12"></div> <p>Organizations with social missions, such as nonprofits and social enterprises, are under growing pressure to demonstrate their impacts on pressing societal problems such as global poverty. This article draws on several cases to build a performance assessment framework premised on an organization's operational mission, scale, and scope. Not all...</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=6526" class="fluid stroke4 white-border" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li>July–August 2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47614" class="no-append"> <h2 class="delta">Sustainability in the Boardroom: Lessons from Nike's Playbook</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6526&click=byline">Lynn S. Paine</a></div> <div class="shim12"></div> <p class="trim-ellipsis">One surprising role of Nike's corporate responsibility committee is to provide support for innovation. More and more companies recognize the importance of corporate responsibility to their long-term success—and yet the matter gets short shrift in most boardrooms, consistently ranking at the bottom of some two dozen possible priorities. Many years ago labor conditions in Asian contract factories prompted Nike board member Jill Ker Conway to lobby for a board-level corporate responsibility committee, which the company created in 2001. In the years since, the committee has steadily broadened its purview, now advising on a broad range of issues including innovation and acquisitions in addition to labor practices and resource sustainability. A close examination of Nike's experience has led the author to conclude that a dedicated board-level committee of this sort could be a valuable addition to many if not most companies in at least five ways: as a source of knowledge and expertise, as a sounding board and constructive critic, as a driver of accountability, as a stimulus for innovation, and as a resource for the full board. In an accompanying interview with Paine, Conway discusses the committee's creation and provides an insider's perspective on what has made it so effective.</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=6526" class="fluid stroke4 white-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>July–August 2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47614" class="no-append"> <h2 class="beta">Sustainability in the Boardroom: Lessons from Nike's Playbook</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6526&click=byline">Lynn S. Paine</a></div> <div class="shim12"></div> <p>One surprising role of Nike's corporate responsibility committee is to provide support for innovation. More and more companies recognize the importance of corporate responsibility to their long-term success—and yet the matter gets short shrift in most boardrooms, consistently ranking at the bottom of some two dozen possible priorities. Many years...</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://pubwww.hbs.edu/faculty/PublishingImages/magnify.svg" class="fluid stroke4 white-border inherit-bg" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li>2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=44186" class="no-append"> <h2 class="delta">Corporate Social Responsibility Reporting in China: Symbol or Substance?</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Christopher Marquis and Cuili Qian</div> <div class="shim12"></div> <p class="trim-ellipsis">This study focuses on how and why firms strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model that explains (a) how different types of dependency on the government lead firms to issue corporate social responsibility (CSR) reports and (b) how the risk of governmental monitoring affects the extent to which CSR reports are symbolic or substantive. First, we examine how firm characteristics reflecting dependence on the government—including private versus state ownership, executives serving on political councils, political legacy, and financial resources—affect the likelihood of firms issuing CSR reports. Second, we focus on the symbolic nature of CSR reporting and how variance in the risk of government monitoring through channels such as bureaucratic embeddedness and local government institutional development influences the extent to which CSR communications are symbolically decoupled from substantive CSR activities. Our database includes all CSR reports issued by the approximately 1,600 publicly listed Chinese firms between 2006 and 2009. Our hypotheses are generally supported. The political perspective we develop contributes to organizational theory by showing (a) the importance of government signaling as a mechanism of political influence, (b) how different types of dependency on the government expose firms to different types of legitimacy pressures, and (c) that firms face a decoupling risk that leads them to be more likely to enact substantive actions in situations where they are likely to be monitored.</p> </div> </div> </div> <div class="row-left tablet-visible mobile-visible"> <div class="span1 sidebar-image"><img loading="lazy" src="https://pubwww.hbs.edu/faculty/PublishingImages/magnify.svg" class="fluid stroke4 white-border inherit-bg" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>2014</li> <li class="ash">Article</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=44186" class="no-append"> <h2 class="beta">Corporate Social Responsibility Reporting in China: Symbol or Substance?</h2></a><div class="shim15"></div> <div class="nu add-underline">By: Christopher Marquis and Cuili Qian</div> <div class="shim12"></div> <p>This study focuses on how and why firms strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model that explains (a) how different types of dependency on the government lead firms to issue corporate...</p> </div> </div> </div> </li> <li> <div class="row desktop-visible"> <div class="span2 sidebar-image"><img loading="lazy" src="https://www.hbs.edu/Style%20Library/api/headshot.aspx?id=15705" class="fluid stroke4 white-border" alt=""></div> <div class="span7 trim-container" data-wcm-edit-url="" data-wcm-edit-position="left" style="max-height:400px;"> <div style="padding-right: 20px;"> <ul class="linear mu-uc"> <li>2014</li> <li class="ash">Working Paper</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47364" class="no-append"> <h2 class="delta">The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=15705&click=byline">George Serafeim</a></div> <div class="shim12"></div> <p class="trim-ellipsis">A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of stakeholders rather than only shareholders. Having documented that this alternative view better fits actual corporate conduct, I discuss opportunities for future research. Specifically, I call for research on the materiality of environmental and social issues for the future financial performance of corporations, the design of incentive and control systems to guide strategy execution, corporate reporting, and the role of investors in this new paradigm.</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=15705" class="fluid stroke4 white-border" alt=""></div> <div class="span99"> <div class="readmore" style="max-height:none;"> <ul class="linear mu-uc"> <li>2014</li> <li class="ash">Working Paper</li> </ul> <div class="shim10"></div><a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=47364" class="no-append"> <h2 class="beta">The Role of the Corporation in Society: An Alternative View and Opportunities for Future Research</h2></a><div class="shim15"></div> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=15705&click=byline">George Serafeim</a></div> <div class="shim12"></div> <p>A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for managers to consider the interests of a broader set of...</p> </div> </div> </div> </li> </ul> <div class="inherit-bg carousel-nav carousel-nav-centered"></div> </div> <div class="shim30"></div> </div> </div> </div> </div> <div class="span3 tablet-span3 vrule-offset"> <div class="mobile-hidden"> <div class="sidebar-spacing"> <div class="white"><svg xmlns="http://www.w3.org/2000/svg" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ext="http://www.hbs.edu/" width="120" height="120" id="Layer_1" data-name="Layer 1" viewBox="0 0 100 112"> <path fill="currentColor" d="M35,0A35,35,0,0,0,4.36,51.91a44.65,44.65,0,0,0,5.73,9c5,6.21,8,13.84,9.11,22.84H50.86Q52.48,70.27,60,60.93a43.75,43.75,0,0,0,6.31-10.18A35,35,0,0,0,35,0Zm2.24,105.81H28a6.92,6.92,0,0,0,13.75,0H37.26ZM19.66,101H50.41V97H19.66v4Zm0-9.58v0.71H50.41V91.38c0-.92,0-1.82.08-2.74H19.58C19.62,89.56,19.66,90.46,19.66,91.38Z"/></svg></div> <div class="shim12"></div> <h3 class="kappa-uc">Initiatives & Projects</h3> <div class="shim14"></div> <div class="nu add-underline">The <a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx">Social Enterprise Initiative</a>, <a href="http://www.hbs.edu/environment/Pages/default.aspx">Business & Environment Initiative</a>, and <a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx">Health Care Initiative</a> apply innovative business practices and managerial disciplines to drive sustained, high-impact social change. </div> <div class="shim21"></div><a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Social Enterprise<span class="right"></span></a><div class="shim8"></div><a href="http://www.hbs.edu/environment/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Business & Environment<span class="right"></span></a><div class="shim8"></div><a href="http://www.hbs.edu/healthcare/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Health Care<span class="right"></span></a><div class="shim32 xteal-bg"></div> </div> </div> </div> </div> </div> </div> <div class="container mobile-container tablet-container vrule9"> <div class="cap mobile-cap tablet-cap"></div> <div class=""> <div class="row"> <div class="span9"> <div class="row tablet-row mobile-row "> <div class="span8 "> <p>HBS pioneered the concept of “social enterprise” with the founding of its <a href="http://www.hbs.edu/socialenterprise/">Social Enterprise Initiative (SEI)</a> in 1993. Under the early leadership of <a href="/faculty/Pages/profile.aspx?facId=6413&click=bestbet">James Austin </a>on the <a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=6360">importance of collaborative relationships to the success of nonprofits</a> and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6588&click=bestbet">Allen Grossman</a> and <a href="/faculty/Pages/profile.aspx?facId=6535&click=bestbet">V. Kasturi “Kash” Rangan</a> on <a href="https://www.hbs.edu/faculty/Pages/item.aspx?num=15932">new directions in nonprofit strategy</a>, we adopted a problem-focused approach toward understanding the challenges associated with driving sustained, high-impact social change. Current research focuses on leadership of socially mission-driven organizations; the role of business leaders and corporate citizenship in driving social change; business models that address poverty; management of high-performing K-12 public school districts; and financing models for the non-profit sector.</p> <div class="mobile-visible"> <div class="hr4" style="margin-bottom:33px;margin-top:30px;"></div> <h2 class="gamma-uc">Initiatives & Projects</h2> <div class="shim20"></div> <p class="add-underline">The <a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx">Social Enterprise Initiative</a>, <a href="http://www.hbs.edu/environment/Pages/default.aspx">Business & Environment Initiative</a>, and <a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx">Health Care Initiative</a> apply innovative business practices and managerial disciplines to drive sustained, high-impact social change. </p><a href="http://www.hbs.edu/socialenterprise/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Social Enterprise<span class="right"></span></a><div class="shim8"></div><a href="http://www.hbs.edu/environment/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Business & Environment<span class="right"></span></a><div class="shim8"></div><a href="http://www.hbs.edu/healthcare/Pages/default.aspx" class="btn-arrow-partial btn-arrow btn-right ">Health Care<span class="right"></span></a><div class="shim30"></div> </div> </div> </div> <div class="hr4" style="margin:6px 0px 34px 0px"></div> <div class="row tablet-row mobile-row "> <div class="span8 "> <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=66529" aria-label="How Robust Is Your Climate Governance? faculty & research publication detail page"> <h2 class="eta">How Robust Is Your Climate Governance?</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6526&click=byline">Lynn S. Paine</a> and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=10700&click=byline">Suraj Srinivasan</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">November–December 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Harvard Business Review</li> </ul> <div class="shim10"></div> <div class="add-underline">During the past few years, as evidence of climate change and its effects has mounted, many corporate boards have added climate governance to their agendas. But the maturity of boards’ climate-oversight processes and activities varies widely. <br> To better understand how climate issues are being handled in the boardroom and to determine what good climate governance looks like in practice, the authors interviewed 20 directors who hold leadership positions on the boards of S&P 500 companies. Drawing from those interviews and other research, they identify eight hallmarks of meaningful climate oversight. For example, “the board is knowledgeable about the company’s climate profile,” “the board has the expertise needed for effective climate oversight,” and “the board can articulate the company’s climate positioning and strategy.” <br> The authors also offer their perspective on the set of issues associated with each hallmark that corporate leaders must grapple with as they decide how to incorporate climate issues into their company’s governance. <br> Climate concerns are here to stay, and climate governance will increasingly be seen as a core element of good governance.</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=Corporate Governance">Corporate Governance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Climate Change">Climate Change</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Governing and Advisory Boards">Governing and Advisory Boards</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 How Robust Is Your Climate Governance?">Citation</a></div> <div style="min-width:110px;"><a href="http://ezp-prod1.hul.harvard.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=180257757&site=ehost-live&scope=site" class="pub-extra-item black mu" aria-label="Find How Robust Is Your Climate Governance? at Harvard">Find at Harvard</a></div> <div style="min-width:110px;"><a href="https://hbr.org/2024/11/how-robust-is-your-climate-governance" class="pub-extra-item black mu" aria-label="Register to read How Robust Is Your Climate Governance?">Register to Read</a></div> <div class="relatedpopout-trigger"><a href="#frRelated1" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66529" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about How Robust Is Your Climate Governance?">Related</a></div> </div> <div id="frCitation1" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Paine, Lynn S., and Suraj Srinivasan. <A HREF="https://hbr.org/2024/11/how-robust-is-your-climate-governance">"How Robust Is Your Climate Governance?"</A> <I>Harvard Business Review</I> 102, no. 6 (November–December 2024): 86–95.</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=66527" aria-label="The Case for Climate Alliances faculty & research publication detail page"> <h2 class="eta">The Case for Climate Alliances</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1504477&click=byline">Matteo Gasparini</a>, Knut Haanaes, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1375951&click=byline">Emily Tedards</a> and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6567&click=byline">Peter Tufano</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">Fall 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Stanford Social Innovation Review</li> </ul> <div class="shim10"></div> <div class="add-underline">Business leaders are under pressure to address the climate crisis, but they can’t do so alone. Climate alliances can help leaders and firms be more ambitious, responsible, and effective in driving the systems change necessary to save the planet.</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=Climate Change">Climate Change</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Partners and Partnerships">Partners and Partnerships</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 The Case for Climate Alliances">Citation</a></div> <div style="min-width:110px;"><a href="http://search.proquest.com.ezp-prod1.hul.harvard.edu/magazines/case-climate-alliances/docview/3101307599/se-2?accountid=11311" class="pub-extra-item black mu" aria-label="Find The Case for Climate Alliances at Harvard">Find at Harvard</a></div> <div style="min-width:110px;"><a href="https://ssir.org/articles/entry/climate-alliances-business-leaders" class="pub-extra-item black mu" aria-label="Register to read The Case for Climate Alliances">Register to Read</a></div> <div class="relatedpopout-trigger"><a href="#frRelated2" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66527" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about The Case for Climate Alliances">Related</a></div> </div> <div id="frCitation2" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Gasparini, Matteo, Knut Haanaes, Emily Tedards, and Peter Tufano. <A HREF="https://ssir.org/articles/entry/climate-alliances-business-leaders">"The Case for Climate Alliances."</A> <I>Stanford Social Innovation Review</I> 22, no. 4 (Fall 2024): 48–57.</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=66486" aria-label="A Better Way to Measure Social Impact faculty & research publication detail page"> <h2 class="eta">A Better Way to Measure Social Impact</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6487&click=byline">Robert S. Kaplan</a> and Constance Spitzer</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">September 26, 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Harvard Business Review Digital Articles</li> </ul> <div class="shim10"></div> <div class="add-underline">All impact investors report the financial returns from their funds and investments, and many provide metrics on intended social outcomes, such as numbers of individuals served, or quality jobs created. But investors do not supply metrics about their impacts on individuals’ and families’ lives, and until they do, social impact reporting is unlikely to approach the level of robustness associated with financial and environmental reporting. The authors of this article describe how Bayer’s Crop Science division has developed reliable stakeholder reported measures of the social impact of its inclusive growth projects based on an approach first pioneered in the healthcare sector.</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=Impact Investing">Impact Investing</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Impact Investment">Social Impact Investment</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Inclusive Growth">Inclusive Growth</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Sustainability">Sustainability</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Environmental Sustainability">Environmental Sustainability</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="#frCitation3" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for A Better Way to Measure Social Impact">Citation</a></div> <div style="min-width:110px;"><a href="https://hbr.org/2024/09/a-better-way-to-measure-social-impact?ab=HP-hero-featured-text-1" class="pub-extra-item black mu" aria-label="Register to read A Better Way to Measure Social Impact">Register to Read</a></div> <div><a href="https://store.hbr.org/product/a-better-way-to-measure-social-impact/h08bfh?sku=H08BFH-PDF-ENG" class="pub-extra-item black mu" aria-label="Purchase A Better Way to Measure Social Impact">Purchase</a></div> <div class="relatedpopout-trigger"><a href="#frRelated3" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66486" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about A Better Way to Measure Social Impact">Related</a></div> </div> <div id="frCitation3" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Kaplan, Robert S., and Constance Spitzer. <A HREF="https://hbr.org/2024/09/a-better-way-to-measure-social-impact?ab=HP-hero-featured-text-1">"A Better Way to Measure Social Impact."</A> <I>Harvard Business Review Digital Articles</I> (September 26, 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=66445" aria-label="Open Door Legal: Universal Legal Access faculty & research publication detail page"> <h2 class="eta">Open Door Legal: Universal Legal Access</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1132519&click=byline">Brian Trelstad</a>, Taylor Greenthal and Sarah Mehta</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">September 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">This case is about Open Door Legal (ODL), a San Francisco-based civil legal aid nonprofit. CEO Adrian Tirtanadi founded the organization in 2012 with a mission to achieve universal access to legal representation for all city residents. By 2024, ODL had opened four offices across San Francico. An additional two would realize the nonprofit’s goal in the city. In 2023, Kevin Haah, a lawyer-turned-pastor, reached out to Tirtanadi about the possibility of expanding ODL to his home city of Los Angeles. Tirtanadi worried that scaling would absorb too much of ODL’s finite energy, time, and resources, and divert attention away from San Francisco. Was now the right time to scale? Was Haah the right partner? Would ODL’s model generalize to Los Angeles? And if so, how should Tirtanadi structure the relationship between the two offices to maximize efficiency and impact?</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=Entrepreneurship">Entrepreneurship</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Law">Law</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Management">Management</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Enterprise">Social Enterprise</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Society">Society</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Legal Services Industry">Legal Services 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=California">California</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Los Angeles">Los Angeles</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=San Francisco">San Francisco</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="#frCitation4" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Open Door Legal: Universal Legal Access">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/325006-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for Open Door Legal: Universal Legal Access">Educators</a></div> <div class="relatedpopout-trigger"><a href="#frRelated4" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66445" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Open Door Legal: Universal Legal Access">Related</a></div> </div> <div id="frCitation4" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Trelstad, Brian, Taylor Greenthal, and Sarah Mehta. "Open Door Legal: Universal Legal Access." Harvard Business School Case 325-006, September 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=66453" aria-label="It’s Time to Unbundle ESG faculty & research publication detail page"> <h2 class="eta">It’s Time to Unbundle ESG</h2></a><div class="nu add-underline">By: Aaron K. Chatterji and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=386263&click=byline">Michael W. Toffel</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">September 20, 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Harvard Business Review (website)</li> </ul> <div class="shim10"></div> <div class="add-underline">ESG is at an inflection point. It has come to represent a broad and inchoate aspiration for what business should be doing beyond maximizing shareholder value. With ESG advocates on the defensive, business leaders need a new roadmap to determine which factors to incorporate into their business strategies and operations – and their political advocacy – and how they will communicate this to their stakeholders. Leaders should adopt a two-pronged approach: 1) Identify the sustainability issues that have the most potential impact on the bottom line and solve for them; and 2) Identify the most material negative impacts your firm is having on society and solve for them. Both of these require scanning for the biggest opportunities and threats that environmental, social, and governance issues pose to your company’s short- and long-term competitiveness.</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=ESG">ESG</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=ESG (Environmental, Social, Governance) Performance">ESG (Environmental, Social, Governance) Performance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=ESG Ratings">ESG Ratings</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=ESG Reporting">ESG Reporting</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=ESG Disclosure">ESG Disclosure</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Sustainability">Sustainability</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Climate">Climate</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Climate Finance">Climate Finance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Climate Risk">Climate Risk</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Accounting">Social Accounting</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Investment">Investment</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Governance">Governance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Safety">Safety</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Climate Change">Climate Change</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Environmental Sustainability">Environmental Sustainability</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</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="#frCitation5" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for It’s Time to Unbundle ESG">Citation</a></div> <div style="min-width:110px;"><a href="https://store.hbr.org/product/it-s-time-to-unbundle-esg/h08ea7?sku=H08EA7-PDF-ENG" class="pub-extra-item black mu" aria-label="Find It’s Time to Unbundle ESG at Harvard">Find at Harvard</a></div> <div style="min-width:110px;"><a href="https://hbr.org/2024/09/its-time-to-unbundle-esg" class="pub-extra-item black mu" aria-label="Register to read It’s Time to Unbundle ESG">Register to Read</a></div> <div class="relatedpopout-trigger"><a href="#frRelated5" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66453" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about It’s Time to Unbundle ESG">Related</a></div> </div> <div id="frCitation5" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Chatterji, Aaron K., and Michael W. Toffel. <A HREF="https://hbr.org/2024/09/its-time-to-unbundle-esg">"It’s Time to Unbundle ESG."</A> <I>Harvard Business Review (website)</I> (September 20, 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=66413" aria-label="Ming Min Hui at Boston Ballet faculty & research publication detail page"> <h2 class="eta">Ming Min Hui at Boston Ballet</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1284280&click=byline">Edward H. Chang</a>, David Allen and Annelena Lobb</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">September 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">This case asks how Ming Min Hui, the newly appointed executive director of Boston Ballet, should ensure that the company stays true to its art form yet relevant to its times. Hui stood out among ballet leaders as a young, Asian American woman with a Harvard Business School MBA and a background in finance. She had worked at the Ballet for eight years as chief of staff and chief financial officer, and she had helped steer it through the double crisis of the COVID-19 pandemic and the racial reckoning of Black Lives Matter. Now at the helm of one of the foremost ballet companies in the United States, she confronted evolving demographics, shifting audience habits, and a financial environment that was becoming ever more challenging. Hui and the Ballet were also committed to making an historically exclusionary art form more inclusive. How could she get the balance between past, present, and future right?</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=Arts">Arts</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Change">Change</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Diversity">Diversity</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Gender">Gender</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Race">Race</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Entertainment">Entertainment</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Theater Entertainment">Theater Entertainment</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Leadership">Leadership</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Management">Management</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Nonprofit Organizations">Nonprofit Organizations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Entertainment and Recreation Industry">Entertainment and Recreation Industry</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Music Industry">Music 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=Massachusetts">Massachusetts</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Boston">Boston</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="#frCitation6" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Ming Min Hui at Boston Ballet">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/925003-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for Ming Min Hui at Boston Ballet">Educators</a></div> <div class="relatedpopout-trigger"><a href="#frRelated6" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66413" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Ming Min Hui at Boston Ballet">Related</a></div> </div> <div id="frCitation6" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Chang, Edward H., David Allen, and Annelena Lobb. "Ming Min Hui at Boston Ballet." Harvard Business School Case 925-003, September 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=66080" aria-label="CSR Under the Pressure of Financial Shocks faculty & research publication detail page"> <h2 class="eta">CSR Under the Pressure of Financial Shocks</h2></a><div class="nu add-underline">By: Monica Kabutey, Syrena Shirley and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=879658&click=byline">Anywhere Sikochi</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">This study examines how the COVID-19 pandemic influenced firms' interactions with customers and suppliers. Customer-supplier relationships are essential because the success of interconnected firms affects the sustainability of the entire supply chain. We use the economic shock of COVID-19 to evaluate if socially responsible firms truly adhere to responsible business practices (i.e. prioritize stakeholders) when faced with financial pressure. Using a difference-in-differences design, we find that socially responsible firms take longer to pay their suppliers though they do not appear to relax payment terms for customers during COVID. These strategies contradict the principles of stakeholder theory, which focuses on understanding and addressing the interests of all stakeholders. Overall, our findings show that socially responsible firms focus more on safeguarding their own liquidity rather than stakeholder priorities during crisis periods.</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=COVID-19 Pandemic">COVID-19 Pandemic</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Supply Chain">Supply Chain</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Customer Focus and Relationships">Customer Focus and Relationships</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Business and Stakeholder Relations">Business and Stakeholder Relations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Financial Crisis">Financial Crisis</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 CSR Under the Pressure of Financial Shocks">Citation</a></div> <div style="min-width:110px;"><a href="https://www.hbs.edu/faculty/Pages/download.aspx?name=SikochiA_HFAC_2024.pdf" class="pub-extra-item black mu" aria-label="Read CSR Under the Pressure of Financial Shocks Now">Read Now</a></div> <div class="relatedpopout-trigger"><a href="#frRelated7" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66080" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about CSR Under the Pressure of Financial Shocks">Related</a></div> </div> <div id="frCitation7" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Kabutey, Monica, Syrena Shirley, and Anywhere Sikochi. <A HREF="https://www.hbs.edu/faculty/Pages/download.aspx?name=SikochiA_HFAC_2024.pdf">"CSR Under the Pressure of Financial Shocks."</A> Harvard Business School Working Paper, No. 25-006, August 2024.</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=66204" aria-label="Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic faculty & research publication detail page"> <h2 class="eta">Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=774593&click=byline">Susanna Gallani</a>, Karen L. Sedatole and Sarah Mehta</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">August 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">Set in March 2024, this case is about CWC Alliance (CWC), a nonprofit working to prevent opioid addiction in the U.S. Founder Cammie Wolf Rice launched CWC in 2018 after her son, Christopher Wolf, died of a heroin overdose. Wolf’s dependence on opioids stemmed from a prescription he received at the age of 17 after several surgeries. Looking back, Rice wishes a healthcare worker had educated her and her son on the dangers of opioids before they were discharged. CWC created the role of the Life Care Specialist (LCS)—a care coach offering an extra layer of support to patients and hospital staff by providing education, mental wellness support, and personalized alternative pain management strategies to post-operative patients. In 2020, CWC piloted the role at Grady Memorial Hospital, a busy trauma center in Atlanta, Georgia. By 2024, three LCSs worked at Grady as full-time employees. CWC is ready to expand to other hospitals, and the case finds Rice weighing the merits of several scaling strategies.</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=Health">Health</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Innovation and Invention">Innovation and Invention</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Jobs and Positions">Jobs and Positions</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Enterprise">Social Enterprise</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Strategy">Strategy</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Health Industry">Health 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=Georgia (state, US)">Georgia (state, US)</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Atlanta">Atlanta</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 Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/125012-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic">Educators</a></div> <div><a href="http://hbr.org/search/125012" class="pub-extra-item black mu" aria-label="Purchase Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic">Purchase</a></div> <div class="relatedpopout-trigger"><a href="#frRelated8" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66204" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic">Related</a></div> </div> <div id="frCitation8" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Gallani, Susanna, Karen L. Sedatole, and Sarah Mehta. <A HREF="http://hbr.org/product/Pioneering-Pain-Managemen/an/125012-PDF-ENG">"Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic."</A> Harvard Business School Case 125-012, August 2024.</div> <div id="frRelated8" 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=66132" aria-label="Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy faculty & research publication detail page"> <h2 class="eta">Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy</h2></a><div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=340063&click=byline">Lauren Cohen</a>, Hao Gao, Alexander Bischoff and Sophia Pan</div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">July 2024</span> | </li> <li style="margin-right: 0px;">Case | </li> <li>Faculty Research</li> </ul> <div class="shim10"></div> <div class="add-underline">Melissa Berman, CEO of Rockefeller Philanthropy Advisors (RPA), evaluated her client’s philanthropy project and its mediocre performance. RPA was a segment of the Rockefeller Family Office’s Philanthropy Department, becoming an independent charity in 2002. Consistently met with high-net-worth individuals, Berman recognized that philanthropy was not taken as seriously as it should be. If it was not reputation nor lip service that they cared about, it was contributing to a cause in a bespoke endeavor that would “change the world.” This, however, was not always effective nor efficient. At times, these misplannings led to huge costs that would even intensify the problems they were trying to solve. As with the case with the client, he had overestimated his ability to contribute and reconstruct an entire country. How should Berman emphasize that philanthropy initiatives should be treated with the same intention as business ventures? How should she deliver her analysis in a way that would refrain from deterring her client against philanthropy altogether?</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=Philanthropy">Philanthropy</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Philanthropic Sector">Philanthropic Sector</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Performance Evaluations">Performance Evaluations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Network">Social Network</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Collaboration">Collaboration</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Foundation">Foundation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Due Diligence">Due Diligence</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Humanitarianism">Humanitarianism</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Humanitarian Assistance">Humanitarian Assistance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Grants">Grants</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Expertise">Expertise</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=HNW Products And Services">HNW Products And Services</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Donations">Donations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Impact">Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Advisor">Advisor</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Advice">Advice</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Consulting">Consulting</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Funding">Funding</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Consulting Services">Consulting Services</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Family Business">Family Business</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Cost vs Benefits">Cost vs Benefits</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Developing Countries and Economies">Developing Countries and Economies</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Private Sector">Private Sector</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Spending">Spending</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Mission and Purpose">Mission and Purpose</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Philanthropy and Charitable Giving">Philanthropy and Charitable Giving</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Performance Evaluation">Performance Evaluation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Nonprofit Organizations">Nonprofit Organizations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Reputation">Reputation</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social and Collaborative Networks">Social and Collaborative Networks</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Social Issues">Social Issues</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Wealth and Poverty">Wealth and Poverty</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Consulting Industry">Consulting Industry</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=New York (city, NY)">New York (city, NY)</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=New York (state, US)">New York (state, US)</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=United States">United States</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="#frCitation9" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy">Citation</a></div> <div><a href="http://cb.hbsp.harvard.edu/cbmp/product/225005-PDF-ENG" class="pub-extra-item black mu" aria-label="Educators for Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy">Educators</a></div> <div class="relatedpopout-trigger"><a href="#frRelated9" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66132" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy">Related</a></div> </div> <div id="frCitation9" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Cohen, Lauren, Hao Gao, Alexander Bischoff, and Sophia Pan. "Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy." Harvard Business School Case 225-005, July 2024.</div> <div id="frRelated9" 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=66260" aria-label="One Way to Help Employees Build Emergency Savings faculty & research publication detail page"> <h2 class="eta">One Way to Help Employees Build Emergency Savings</h2></a><div class="nu add-underline">By: Timothy Flacke and <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6567&click=byline">Peter Tufano</a></div> <ul class="linear mu regular ash" style="margin-top: 5px;"> <li style="margin-right: 0px;"><span class="mu-uc regular">May 14, 2024</span> | </li> <li style="margin-right: 0px;">Article | </li> <li>Harvard Business Review (website)</li> </ul> <div class="shim10"></div> <div class="add-underline">Intentional cooperation between two organizations — BlackRock, a major asset management firm, and national non-profit, Commonwealth — created the conditions for the nation’s largest payroll processor, multiple U.S. employers, retirement record keepers, and others to work together to help address systemic U.S. household financial insecurity through a workplace-based savings plans. This was not the typical retirement-savings programs, but rather an emergency-savings programs, designed to reduce the financial fragility that often affects those living on low to moderate or volatile incomes with little ability to cope with a financial emergency.</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=Saving">Saving</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Personal Finance">Personal Finance</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Income">Income</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Nonprofit Organizations">Nonprofit Organizations</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Corporate Social Responsibility and Impact">Corporate Social Responsibility and Impact</a>; <a href="/faculty/research/publications/Pages/default.aspx?q=Partners and Partnerships">Partners and Partnerships</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="#frCitation10" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Citation for One Way to Help Employees Build Emergency Savings">Citation</a></div> <div><a href="https://hbr.org/2024/05/one-way-to-help-employees-build-emergency-savings" class="pub-extra-item black mu" aria-label="Read One Way to Help Employees Build Emergency Savings Now">Read Now</a></div> <div><a href="https://store.hbr.org/product/one-way-to-help-employees-build-emergency-savings/h087u6?sku=H087U6-PDF-ENG" class="pub-extra-item black mu" aria-label="Purchase One Way to Help Employees Build Emergency Savings">Purchase</a></div> <div class="relatedpopout-trigger"><a href="#frRelated10" data-item-url="https://www.hbs.edu/faculty/Pages/item.aspx?num=66260" class="pub-extra-item toggle-plus toggle-button black mu" role="button" aria-label="Related publications about One Way to Help Employees Build Emergency Savings">Related</a></div> </div> <div id="frCitation10" class="frCitation nu has-slide" style="margin-top: 10px; display:none;">Flacke, Timothy, and Peter Tufano. <A HREF="https://hbr.org/2024/05/one-way-to-help-employees-build-emergency-savings">"One Way to Help Employees Build Emergency Savings."</A> <I>Harvard Business Review (website)</I> (May 14, 2024).</div> <div id="frRelated10" 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?q=Social%20Enterprise" class="btn-arrow-partial btn-arrow btn-right btn-large ">More Publications<span class="right"></span></a></div> </div> </div> <div class="tablet-rail4 mobile-rail4"></div> </div> <div class="span3 vrule-offset"> <div class="sidebar-list" data-wcm-edit-url=""> <h3 class="kappa-uc" style="margin-bottom:13px;">Faculty</h3> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6535">V. Kasturi Rangan</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=15705">George Serafeim</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=386263">Michael W. Toffel</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6486">Rosabeth M. Kanter</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6413">James E. Austin</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=382192">Julie Battilana</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6526">Lynn S. Paine</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6588">Allen S. Grossman</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1132519">Brian L. Trelstad</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6538">Forest L. Reinhardt</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=24276">Geoffrey G. Jones</a></div> <div class="shim10"></div> <div class="" data-wcm-edit-url=""><a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6532">Michael E. Porter</a></div> </div> <div class="more" style="margin-top:24px;"><span class="txt-arrow">→</span><a href="/faculty/Pages/browse.aspx?q=Social%20Enterprise">See All</a></div> <div class="hr" style="margin: 30px 0px;"></div> <div class="sidebar-margins"> <h3 class="kappa-uc" style="margin-top: 0px;">HBS Working Knowlege</h3> <ul class="media-list3 sidebar-stream "> <li class="media"> <div class=""> <div class="span99"> <ul class="linear mu-uc"> <li>09 Apr 2024</li> </ul> <h4 class="kappa-uc"><a href="https://hbswk.hbs.edu/item/cold-call-sustaining-a-legacy-of-giving-in-turkey" class="block" style="color: #2AA296;border:!px solid red;">Sustaining a Legacy of Giving in Turkey</a></h4> <div class="nu add-underline">Re: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=109656">Christina R. 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Whillans</a></div> </div> </div> </li> </ul> <div class="more"><span class="txt-arrow" aria-hidden="true">→</span><a href="https://hbswk.hbs.edu/Pages/browse.aspx?HBSTopic=("Social Enterprise")">More 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 26, 2024</li> <li class="ash">Article</li> </ul> <h4 class="kappa-uc"><a href="https://store.hbr.org/product/a-better-way-to-measure-social-impact/h08bfh?sku=H08BFH-PDF-ENG" class="block" style="color: #2AA296;border:!px solid red;">A Better Way to Measure Social Impact</a></h4> <div class="nu add-underline">By: <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6487&click=byline">Robert S. 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