In their second year, two Mexican HBS MBAs joined forces to start a search fund based in Mexico City. They had raised money to acquire an existing private company in Mexico with an initial enterprise value between $5 million and $15 million. Just seven months after raising the fund, they were...

In January 2010, John Fahey, president, CEO, and chairman of the board of trustees' executive committee of the Washington, D.C.-based National Geographic Society (NGS), must decide how best to organize the 121-year old mission-driven organization for a world of accelerating digital convergence...

In late spring 2009, Stroz Friedberg co-presidents Edward Stroz and Eric Friedberg had to set growth targets for 2010. The leading global consulting firm they had built specialized in managing digital risk and uncovering digital evidence and had grown very rapidly. With the firm's CFO, they...

Monsanto has led the effort to bring biotechnology to bear on food production. Through some management missteps and consumer resistance the company had difficulties in its early years. But since Hugh Grant became CEO the picture has brightened with widespread adoption of the company's products....

In the biotech world, the 18-year-old Munich-based company MorphoSys was a rarity: it was profitable. The company achieved this profitability not by developing and selling its own drugs, but by licensing access to its proprietary library of human antibodies. Recently, the company decided to...

This paper considers the ramifications of post-auction competition on bidding behavior under different bid announcement policies. In equilibrium, players attempt to signal information to their post-auction competitors through their bids. Thus, an auctioneer can take advantage of these attempts...

The fundamental uncertainty of new technologies at their earliest stages implies that it is virtually impossible to know the true potential of a venture without learning about its viability through a sequence of investments over time. We show how this process of experimentation can be...