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On January 31, 2017, The Carlyle Group ("Carlyle") closed its $3.2 billion acquisition of Atotech, an international Specialty Chemicals and Equipment company. In Carlyle's Washington, DC headquarters, the US-based deal team - Martin Sumner, Greg Nikodem, Tanaka Maswoswe (HBS '10), and Luke Mehmeti (HBS '20) - breathed a sigh of relief as they reflected on the prior six months, shepherding the opportunity through a competitive bidding process and numerous international regulatory approvals to a signed and completed transaction. Getting the deal over the finish line had required a monumental, cross-border effort, with close collaboration among the US team, European buyout colleagues Friedel Drees and Willi Westenberger, and Asian buyout colleagues Herman Chang and Yi Yu. They all knew, however, that the real work lay ahead: executing on the transformation plan developed during the many months of diligence.

This case describes the 2012-2020 effort at IBM to implement design thinking throughout the company and hire thousands of designers to serve on every product team alongside technical engineers and developers and product managers. IBM's design transformation is told through the development of the Design Program Office-a new centralized function led by General Manager Phil Gilbert to support the organizational change effort-and the adoption of design thinking at several key business units: IBM's Z mainframes business; IBM Security; IBM's data and artificial intelligence (AI) business; and the Digital Strategies and Interactive Experience (DS/iX, or just iX) group, within IBM Services. The case contains details about IBM's approach to design thinking frameworks and how IBM integrated design thinking and designers to center end-user needs in its product development teams and processes.

Vivian Yuan seeks to bolster the Tsinghua University Education Foundation's fundraising efforts and investment goals in a new era of Chinese higher education. Competing with elite members of China's C9 League of top universities, she must develop a set of incentives and deliverables for alumni and non-affiliated donors which can bridge the gaps in their own investment and philanthropic prospects. To do so, she must specify what makes the university unique as a donation opportunity, and highlight the things TUEF can accomplish that no one else can.

As a new CEO, Thomas Schinicker, who took over Roche Diagnostics Centralized Point of Care Solutions (CPS) in early 2018, he faced a dilemma. HIs executive team had already engaged in a lengthy one-year strategy development process in 2017 mapping out the scenarios for the future and defining where Roche Diagnostics should play and how it should win. All they needed was his sign-off to go ahead and announce the new strategy. What should he do?

What has been the impact of the Affordable Care Act (2010) on healthcare coverage in the United States? While this significant piece of legislation put America's healthcare system on a long-awaited path towards universal healthcare coverage, the struggle to provide coverage to millions of uninsured people is far from over. The case examines aspects of the national healthcare system including Medicaid and Medicare, employer-based insurance and healthcare exchanges. It also examines what the ACA left undone and how legislative changes in 2017 and the COVID pandemic highlighted the fragility of health care provision in the US.

The Ayangue community is a tourist destination in the municipality of Santa Elena in Ecuador known for its tranquil waters and its proximity to the El Pelado Marine Reserve a popular place for scuba diving, snorkelling, and leisure trips. The community was facing a series of issues in its pursuit to boost tourism in the area among which stood out: inadequate infrastructure, the informal nature of tourism businesses, controls on beach capacity being ignored, and the potential loss of biodiversity in the area. The Santa Elena municipality, through their state-owned company for tourism, developed a series of participatory plans to boost tourism in the municipality; to do this Ayangue Council formed a committee to create a project that would provide the necessary boost to tourism. The Committee had to analyse their current situation in order to identify the main issues, outline the best way to address them, and attract more tourists while conserving the natural attractions found in the area and improving the lives of community members. The Committee faced challenges over what kind tourism in Ayangue should focus on and how to achieve it.

Rick Welts has been one of the most successful and lauded business executives in professional sports. He made remarkable contributions to the NBA league office, and was president of three NBA teams which won seven championships during his tenure. He was elected to the basketball Hall of Fame in 2018, a rare distinction for a business-side executive who was not an owner or commissioner. In 2011, he became the first openly gay high-level sports executive in U.S. male professional team sports. He subsequently became an advocate for, and inspiration to, gay youth. This case describes Welts's career, from his days as a ball boy for the Seattle Supersonics, through college, and the NBA. It includes transcripts of interviews with individuals who shed light on Welts's career, leadership style, and impact.

The Vancouver Coastal Health Authority (VCHA), with guidance from the British Colombia (BC) Provincial Health Services Authority, had been responsible for organizing and executing an effective COVID-19 response. Its approach for testing capacity and supply chain management had been influenced by several factors: lack of supply, lack of labour, lack of testing expertise, and provincial government mandates. Although these factors had constrained the VCHA's ability to control the virus, BC's projected case increases posed serious concerns within the current management. The head of the VCHA wondered how she could better position the VCHA to combat COVID-19 in the long term while securing enough supplies. As she was concerned that COVID-19 cases would continue to surge, she knew this strategy had to be effective and time-sensitive.

In mid-2020, the co-founder of online and brick-and-mortar womenswear boutique Shop Thursdays in Toronto, was considering how to best position her business for growth when the COVID-19 global pandemic was resolved. The boutique, which had two brick-and-mortar locations in addition to its online presence, provided its customers with the latest and trendiest styles. When the COVID-19 pandemic forced all non-essential business to close their doors, the co-founder pivoted to sell all merchandise through the shop's online platform. The success realized during this time led her to wonder how to continue to boost this segment of the business. The co-founder had tried influencer marketing in the past and was aware of its potential to grow online sales; however, to devote her time and resources to influencer marketing, she would need to close the store's second location. Given the uncertainty surrounding consumer shopping behaviour after COVID-19 was resolved, which strategy would be beneficial moving forward?

Ecobank Ghana had branches in every region of Ghana and wanted to expand its client base to include more small and medium enterprises. At the end of 2011, Ecobank Transnational Incorporated, Ecobank Ghana's parent company, acquired the Trust Bank Ghana Limited, a bank that primarily serviced small businesses, which it planned to merge with Ecobank Ghana through a share swap. Integrating the two banks would involve merging different organizational cultures and operational technologies. The employee appointed as the manager responsible for ensuring a seamless integration of the two banks needed a plan to integrate the staff, standardize the operational systems, and establish a converged culture. How should he prioritize the changes, and what challenges should he anticipate from the merger?

Set in July 2020, this case talks about a solar park public-private partnership (PPP) project in Madhya Pradesh, India. Manu Srivastava, Chairperson of Rewa Ultra-Mega Solar Limited (RUMSL), and his team had decided to go ahead with the project without the support of viability gap funding (VGF). However, the project faced a setback when the central government lowered the solar VGF tariff by 10%, forcing RUMSL to look for innovative ways of attracting lower bids. After consultations with solar developers and potential financiers, Srivastava and his team introduced many de-risking measures like payment security mechanisms, land availability guarantee, project termination and grid unavailability compensation and tax-change risk coverage clauses in the power purchase agreement. The team also implemented innovative features like an optimum scheduling mechanism (to attract a high credit off-taker) and a data room with updates on land and internal evacuation infrastructure availability before the start of the bidding process. The overall strategy was to avoid the 'Goldilocks syndrome' and create a perfect balance between risks being transferred and known risks being accommodated. An e-reverse auction was used for the bidding process. The final tariff achieved was 40% less than the VGF tariff. RUMSL's nuts and bolts approach of process innovation motivated the central government to shift its focus from VGF to scalable market-based financing models. A "Standard Bidding Guidelines" for solar projects was introduced by the government, incorporating many features of the Rewa project.

The case focuses on bribery and corruption in wholesale international capital markets with an emphasis on infrastructure finance - notably the theft of $4.5 billion in proceeds from bond issues by the 1 Malasia Development Berhad (IMDB) totalling $6.5 billion. The scandal ensnared the Malaysian Prime Minister, an Abu Dhabi Sovereign Wealth Fund, major institutional investors and the Goldman Sachs Group in one of the largest financial frauds in recent history. The scope of the case spans a host of issues from public finance to due diligence, corporate culture, executive conduct and reputational risk.

La Esperanza was a mining unit owned by POFCO, a company with its headquarters in China and with operations in Peru, dedicated to the development of gold and copper projects. On November 19, 2015, Julio Soto, operations manager at La Esperanza, was getting ready to travel to the city of Lima, Peru, to attend a board of directors meeting, where he would present an "autonomous" transportation project. He considered it "an alternative that would boost efficiency, safety, and productivity in the mine." Despite his enthusiasm, he had some concerns; in fact, the decision implied dismissing the workers with the greatest seniority and legitimacy in the company, which could affect the relationship of the company with the workers union and the community. He was aware that his decision might also put his own position at risk. He was worried and knew he had to weigh his concerns before the meeting: What would be the impact of the project on the culture of La Esperanza? Would automation actually be profitable? Soto knew a tense conversation was awaiting him.

Ilene Lang started her career in technology at a time when the tech sector was new and women had only recently entered the workplace in large numbers. Over the next thirty years, she built a career spanning large and small tech companies, leading global teams and overseeing products such as AltaVista, an early search engine. After leading three dot-coms in the late 1990s, she was ready for a new chapter and joined Catalyst, a global nonprofit focused on women in the workplace, as CEO. Lang led Catalyst through the aftermath of September 11 and the Great Recession, all while expanding the organization's portfolio and reach, before retiring in 2014 and continuing her advocacy as a corporate director and advisor to organizations focused on increasing women's economic power and leadership.

Ana Paula Pessoa built a career at the largest media conglomerate in Latin America, combining a passion for digital transformation with a commitment to doing work that had a positive impact on society. Having grown up during a dictatorial military regime in Brazil, the value of a free press was clear to Pessoa. She ultimately rose to become CFO of the company's print media arm, before making a career shift to invest in technology startups and later to serve as CFO for the Rio de Janeiro Olympics. Throughout her varied career, Pessoa sought out connections with interesting people across industries, a practice that paid dividends when she was recruited to join the board of a large public company, which led to additional board appointments. Following her passions and building relationships enabled Pessoa to craft a fulfilling career spanning multiple industries and issues.

Michele Hooper joined the board of the Dayton-Hudson Corporation when she was in her late thirties, becoming the company's youngest director as well as the only woman and the only person of color in the boardroom. Such "firsts" were not unusual for Hooper, who had been tapped to lead the Canadian subsidiary of Baxter International a year earlier, one of very few women moved from a staff to a line role at the company. More board opportunities continued to come Hooper's way, and over time she gained expertise and experience across all aspects of corporate governance, often serving as a lead director or committee chair. Seeing that too few women, and far too few men and women of color, were breaking into the boardroom, Hooper cofounded the Directors' Council to help companies diversity their boards. Widely acknowledged as a leader in corporate governance, Hooper dedicated herself to serving as a role model and mentor for Black professionals aspiring to leadership.

Barbara Hackman Franklin was one of the first women to earn an MBA from Harvard Business School. She went on to break barriers in the private and public sectors, rising to leadership positions in business and government. In the 1970s, she led a successful White House initiative to hire more women into high-level roles, helping to change the makeup of the federal workforce and advance the national conversation about women's roles in public life.

Jack Rivkin's innovative approach to hiring, developing, and retaining employees created opportunities for female analysts to thrive at the equity research department he led, and also made the entire department more effective. Rivkin fostered a culture of gender inclusion and focused on developing the unique strengths of every employee, rather than expecting women to fit a rigid masculine norm. His efforts led to an increase in the department's female analysts and also resulted in more analysts (both women and men) achieving star-ranked status. In just a few years, the department jumped from 15th to 1st place in industry rankings. However, when Rivkin departed, the overarching culture and practices of the firm undermined the inclusive environment he had fostered; high-performing analysts departed and the department rapidly tumbled in the rankings.

Ros Atkins launched the 50:50 Project on a BBC news program he anchored, deciding with his team to start tracking the gender of the contributors and experts featured on the show. Before long, it was clear that monitoring the data led to increased awareness of a gender gap which in turn spurred action - the representation of women and men equalized. Atkins knew the simple process could have a significant impact, so he worked with colleagues to implement the project throughout the BBC. Rather than try to institute a mandate or directive from the top, Atkins took a grassroots approach, sharing the process and its success with colleagues personally. More and more programs adopted the effort, and ultimately the head of the BBC publicly endorsed it. Over time, 50:50 became a self-sustaining program adopted across the entire organization and beyond. Atkins dedication to gender equality in the media offers a compelling example of the potential that lies with male allies.