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Hertz CEO Kathryn Marinello with CFO Jamere Jackson and other members of the executive team in 2017

Top 40 Most Popular Case Studies of 2021

Two cases about Hertz claimed top spots in 2021's Top 40 Most Popular Case Studies

Two cases on the uses of debt and equity at Hertz claimed top spots in the CRDT’s (Case Research and Development Team) 2021 top 40 review of cases.

Hertz (A) took the top spot. The case details the financial structure of the rental car company through the end of 2019. Hertz (B), which ranked third in CRDT’s list, describes the company’s struggles during the early part of the COVID pandemic and its eventual need to enter Chapter 11 bankruptcy. 

The success of the Hertz cases was unprecedented for the top 40 list. Usually, cases take a number of years to gain popularity, but the Hertz cases claimed top spots in their first year of release. Hertz (A) also became the first ‘cooked’ case to top the annual review, as all of the other winners had been web-based ‘raw’ cases.

Besides introducing students to the complicated financing required to maintain an enormous fleet of cars, the Hertz cases also expanded the diversity of case protagonists. Kathyrn Marinello was the CEO of Hertz during this period and the CFO, Jamere Jackson is black.

Sandwiched between the two Hertz cases, Coffee 2016, a perennial best seller, finished second. “Glory, Glory, Man United!” a case about an English football team’s IPO made a surprise move to number four.  Cases on search fund boards, the future of malls,  Norway’s Sovereign Wealth fund, Prodigy Finance, the Mayo Clinic, and Cadbury rounded out the top ten.

Other year-end data for 2021 showed:

  • Online “raw” case usage remained steady as compared to 2020 with over 35K users from 170 countries and all 50 U.S. states interacting with 196 cases.
  • Fifty four percent of raw case users came from outside the U.S..
  • The Yale School of Management (SOM) case study directory pages received over 160K page views from 177 countries with approximately a third originating in India followed by the U.S. and the Philippines.
  • Twenty-six of the cases in the list are raw cases.
  • A third of the cases feature a woman protagonist.
  • Orders for Yale SOM case studies increased by almost 50% compared to 2020.
  • The top 40 cases were supervised by 19 different Yale SOM faculty members, several supervising multiple cases.

CRDT compiled the Top 40 list by combining data from its case store, Google Analytics, and other measures of interest and adoption.

All of this year’s Top 40 cases are available for purchase from the Yale Management Media store .

And the Top 40 cases studies of 2021 are:

1.   Hertz Global Holdings (A): Uses of Debt and Equity

2.   Coffee 2016

3.   Hertz Global Holdings (B): Uses of Debt and Equity 2020

4.   Glory, Glory Man United!

5.   Search Fund Company Boards: How CEOs Can Build Boards to Help Them Thrive

6.   The Future of Malls: Was Decline Inevitable?

7.   Strategy for Norway's Pension Fund Global

8.   Prodigy Finance

9.   Design at Mayo

10. Cadbury

11. City Hospital Emergency Room

13. Volkswagen

14. Marina Bay Sands

15. Shake Shack IPO

16. Mastercard

17. Netflix

18. Ant Financial

19. AXA: Creating the New CR Metrics

20. IBM Corporate Service Corps

21. Business Leadership in South Africa's 1994 Reforms

22. Alternative Meat Industry

23. Children's Premier

24. Khalil Tawil and Umi (A)

25. Palm Oil 2016

26. Teach For All: Designing a Global Network

27. What's Next? Search Fund Entrepreneurs Reflect on Life After Exit

28. Searching for a Search Fund Structure: A Student Takes a Tour of Various Options

30. Project Sammaan

31. Commonfund ESG

32. Polaroid

33. Connecticut Green Bank 2018: After the Raid

34. FieldFresh Foods

35. The Alibaba Group

36. 360 State Street: Real Options

37. Herman Miller

38. AgBiome

39. Nathan Cummings Foundation

40. Toyota 2010

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Case Studies

Case studies are written by professors at HBS and at renowned business programs worldwide and offer slices of business life, focusing on actual problems and decisions companies face.

Case Studies

Google's Project Oxygen: Do Managers Matter?

Google's Project Oxygen: Do Managers Matter? ^ 313110

Google's Project Oxygen started with a fundamental question raised by executives in the early 2000s: do managers matter? The topic generated a multi-year research project that ultimately led to a comprehensive program, built around eight key management...

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Big Hit Entertainment and Blockbuster Band BTS: K-Pop Goes Global

Bang Si-Hyuk ('Hitman Bang') is the founder and co-chief executive officer of Big Hit Entertainment, the company behind BTS, a 'K-pop' band that has found unparalleled success around the globe-a remarkable feat given that most of their songs are in...

Cirque du Soleil ^ 403006

Cirque du Soleil

Retaining talent is an issue for any company whose success relies on the creativity and excellence of its employees. This is especially true for Cirque du Soleil, the spectacularly successful "circus without animals," whose 2,100 employees include 500...

GE's Two-Decade Transformation: Jack Welch's Leadership ^ 399150

GE's Two-Decade Transformation: Jack Welch's Leadership

GE is faced with Jack Welch's impending retirement and whether anyone can sustain the blistering pace of change and growth characteristic of the Welch era. After briefly describing GE's heritage and Welch's transformation of the company's business...

Pinckney Street ^ 813182

Pinckney Street

Although inexperienced in real estate, Edward Alexander hopes in June 2013 that youthful enthusiasm and an $240,000 in savings and inheritance will help him enter the real estate business. His experience chronicles the process of finding, evaluating, and...

Army Crew Team ^ 403131

Army Crew Team

The coach of the varsity Army crew team at West Point assembled his top eight rowers into the first crew team and the second tier of rowers into the second team using objective data on individual performance. As the second boat continually beat the first...

Chase Sapphire: Creating a Millennial Cult Brand ^ 518024

Chase Sapphire: Creating a Millennial Cult Brand

The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). The launch of the Chase Sapphire Reserve credit card was enthusiastically received by Millennial consumers,...

Trader Joe's ^ 714419

Trader Joe's

The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). Based on a variety of metrics, Trader Joe's ranked as one of the most successful grocers in the United...

Amazon.com, 2021 ^ 716402

Amazon.com, 2021

In February 2021, Amazon announced 2020 operating profits of $22,899 million, up from $2,233 million in 2015, on sales of $386 billion, up from $107 billion five years earlier (see Exhibit 1). The shareholders expressed their satisfaction (see Exhibit...

Leadership in Crisis: Ernest Shackleton and the Epic Voyage of the Endurance ^ 803127

Leadership in Crisis: Ernest Shackleton and the Epic Voyage of the Endurance

Provides an opportunity to examine leadership and entrepreneurship in the context of Ernest Shackleton's 1914 Antarctic expedition, a compelling story of crisis, survival, and triumph. Summarizes Shackleton's career as an officer in the British Merchant...

The Tulsa Massacre and the Call for Reparations ^ 221039

The Tulsa Massacre and the Call for Reparations

The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their...

Zipline: Expanding the World's Largest Autonomous Drone Delivery Network ^ 725381

Zipline: Expanding the World's Largest Autonomous Drone Delivery Network

Zipline seeks to expand its autonomous drone network from blood and healthcare logistics in Africa to U.S. home delivery.

Ranger Energy Services: Bridging Public & Private Markets ^ 125023

Ranger Energy Services: Bridging Public & Private Markets

In August of 2017, CSL Capital, a private equity fund founded and operated by Charlie Leykum (HBS'04), was deciding to take one of its portfolio companies, Ranger Energy Services, public. Founded in 2014, Ranger Energy was an oilfield service company...

Xendit: Hiring for Growth ^ 825046

Xendit: Hiring for Growth

In 2019, Xendit, a growth-stage Southeast Asia (SEA) fintech venture based in Jakarta, was looking to hire a Head of Sales and Head of Product to lead its next phase of growth. Founded by Moses Lo and Tessa Wijaya, Xendit provided payment infrastructure,...

Generation Investment Management: Sustainable Investing in a Warming World ^ 324043

Generation Investment Management: Sustainable Investing in a Warming World

In September 2021, the sustainable investment firm Generation Investment Management (Generation) considered whether to add Schneider Electric to the focus list of companies in which it was prepared to invest. Dedicated to promoting a sustainable world...

Alibaba's Innovation-Driven Approach to Intellectual Property Rights Governance ^ 146SMU

Alibaba's Innovation-Driven Approach to Intellectual Property Rights Governance

Set in March 2024, one year after Alibaba Group announced its largest-ever restructuring in history, this case traces the behemoth's journey in protecting Intellectual Property (IP) on its e-commerce platforms, primarily Taobao and Tmall, China's largest...

Foodology: Creating a Virtual Restaurant Group in Latin America ^ 724392

Foodology: Creating a Virtual Restaurant Group in Latin America

In April 2020, Daniela Izquierdo (HBS, 2019) and Juan Guillermo Azuero (HBS, 2019), awaited the results of Harvard Business School's Alumni New Venture Competition. Operating since September 2019, Foodology, a Colombian food-tech startup in the cloud...

New Belgium Brewing and Climate Change ^ 624069

New Belgium Brewing and Climate Change

In 2023, Colorado-based craft brewery New Belgium Brewing was considering how best to meet its emissions reduction targets. After decades of growth, the beermaker had grown to become one of the largest craft brewers in the U.S., and was purchased in 2019...

Discerene Group: Long-Term Public-Markets Investing ^ 225023

Discerene Group: Long-Term Public-Markets Investing

This case discusses active investing based on fundamental valuations and price distortions created by market events, and whether contractual terms between investment managers and their investors can help align incentives between long-term investors and...

Dabbawala's: Masters of Precision but enough to survive? ^ ISB436

Dabbawala's: Masters of Precision but enough to survive?

The case examines the century-old lunch delivery service of the Dabbawalas in Mumbai, India, which is known for its remarkable operational efficiency and precision. In operation since 1890, the Dabbawala system relies on meticulous coordination and...

Women's Premier League: Is This Just the Start? ^ W36862

Women's Premier League: Is This Just the Start?

The Women's Premier League (WPL) final was contested on March 25, 2023, the atmosphere at the crowded Brabourne Stadium mirrored the phrase for which the competition became famous: "Ye Toh Bas Shuruat Hai" (This is just the start). Fans filled stadiums...

Brief Note on How America Votes and U.S. Election Structural Issues (2024) ^ 825065

Brief Note on How America Votes and U.S. Election Structural Issues (2024)

This note describes how American votes, and explores several structural issues to U.S. elections.

Navigating Digital Transformation at Carrefour ^ 525024

Navigating Digital Transformation at Carrefour

In 2023, Elodie Perthuisot, Carrefour's Executive Director for e-commerce and digital transformation, met with CEO Alexandre Bompard to discuss strategies for the company's digital initiatives. Carrefour, a global retail giant with over 14,300 stores...

Allbirds: Decarbonizing Fashion (B) ^ 625004

Allbirds: Decarbonizing Fashion (B)

The Allbirds: Decarbonizing Fashion (B) case encourages students to assess Allbirds' product development and go-to-market strategies now that Allbirds is a publicly listed company. The (B) case provides a 2024 update on Allbirds including its initial...

Myeloma Investment Fund ^ 625047

Myeloma Investment Fund

This case explores a critical decision facing the Myeloma Investment Fund (MIF) as it evaluates two investment opportunities aimed at accelerating a cure for multiple myeloma. The MIF, a venture philanthropy fund, must choose between two distinct paths...

Cemex and Antidumping ^ P004

Cemex and Antidumping

Under the leadership of CEO Lorenzo Zambrano, Cementos Mexicanos, S.A. (Cemex) has become the largest cement producer in North America and the fourth largest in the world. As a component of its globalization strategy Cemex expanded into the United States...

Gordon Biersch ^ E002

Gordon Biersch

Reviews the start-up and growth of Gordon Biersch, a brewpub chain. As the case ends, the founders want to roll out the concept nationally and are considering the issues of organizational design and financing. They are also considering selling a majority...

The Fraud Triangle ^ 125038

The Fraud Triangle

Power Dynamics (B): Political Catalyst in Organizational Transformation ^ W39442

Power Dynamics (B): Political Catalyst in Organizational Transformation

This is the follow-up (B) case to W37506.

Power Dynamics (A): Political Catalyst in Organizational Transformation ^ W37506

Power Dynamics (A): Political Catalyst in Organizational Transformation

Following E-India Ltd.'s acquisition of THEPSU, a significant shift in organizational culture and dynamics ensued as E-India's chief human resources officer sought to harmonize the existing HR teams with new approaches while leveraging their diverse...

Indian Institute of Technology Bombay: Inclusivity in Premier Education ^ W36698

Indian Institute of Technology Bombay: Inclusivity in Premier Education

The Indian Institute of Technology started with two locations in 1958 and eventually grew into an educational network with over 23 institutions across India. Graduate and Ph.D. students were the torchbearers in the fields of science, technology,...

Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic ^ 125012

Pioneering Pain Management: CWC Alliance Combats the Opioid Epidemic

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...

Michael Ross: Whether to Move From Private Equity to Pest Control ^ 925301

Michael Ross: Whether to Move From Private Equity to Pest Control

Knowledge Transfer: Toyota, NUMMI, and GM ^ 625003

Knowledge Transfer: Toyota, NUMMI, and GM

New United Motors Manufacturing, Inc. (NUMMI) was a joint venture between Toyota and General Motors. It was an opportunity for GM to learn about the Toyota Production System, which was quite different from the mass production processes American...

Brief Note on U.S. Political Parties and the Presidential Nominating Process (2024) ^ 825050

Brief Note on U.S. Political Parties and the Presidential Nominating Process (2024)

This note gives a brief overview of the major U.S. political parties and how they nominate presidential candidates.

Politics Comes to ESG Investing ^ 224107

Politics Comes to ESG Investing

While the past decade has seen a dramatic increase in the incorporation of Environmental, Social and Governance (ESG) standards into investor practices, this momentum has shifted recently in the United States, as some politicians argued that ESG...

DO & CO: Crafting Luxury in the Fast Lane (B) ^ 724417

DO & CO: Crafting Luxury in the Fast Lane (B)

In July 2023, Attila Dogudan, the chairman of DO & CO, a renowned international catering firm, found himself in a deep conversation with his two sons about a potential new venture: catering for the Las Vegas Grand Prix, a significant step beyond their...

DO & CO: Crafting Luxury in the Fast Lane (A) ^ 724416

DO & CO: Crafting Luxury in the Fast Lane (A)

Eat App: Building and Monetizing an End-to-End Dining Experience Solution ^ 525019

Eat App: Building and Monetizing an End-to-End Dining Experience Solution

Founded in 2015 in Bahrain, Eat App was an up-and-coming player in the global restaurant management software business. In early 2024, having shifted to a product-led growth strategy, the company's co-founders faced a host of decisions that could greatly...

River Remedy: Navigating Mississippi's Medical Marijuana Market ^ 225011

River Remedy: Navigating Mississippi's Medical Marijuana Market

MBA student William Chism, the founder of fully integrated medical marijuana company based in Mississippi, must respond to a significant disruption in the fledgling industry. In late 2023, Rapid Analytics, one of two active licensed testing facilities,...

3i Infotech Limited: Digital-First Strategy ^ A00512

3i Infotech Limited: Digital-First Strategy

This case explores the transition of 3i Infotech Limited becoming a digital ecosystem orchestrator in the international market from a software services provider based out of India. As a new CEO took over the company in 2021, the company has been forced...

Aminia: Online Delivery Platforms, Menu Structuring and Sustainability ^ A00510

Aminia: Online Delivery Platforms, Menu Structuring and Sustainability

The demand for home deliveries in India soared with the rise of online food delivery (OFD) platforms such as Swiggy and Zomato. On one hand, the OFDs provided the restaurants, much needed visibility, and on the other hand, it empowered the consumers to...

AirAsia Japan: The Re-entry Decision ^ A00508

AirAsia Japan: The Re-entry Decision

The case describes a situation in early 2014 wherein Tony Fernandes, Chief Executive Officer (CEO) of the AirAsia Group, was contemplating whether AirAsia should re-enter the Japanese aviation sector. AirAsia had entered the low-cost aviation market in...

Net Protections (C) ^ 724397

Net Protections (C)

Is Concentrated Ownership Good? ^ 625033

Is Concentrated Ownership Good?

Net Protections (D) ^ 724471

Net Protections (D)

Net Protections (B) ^ 724396

Net Protections (B)

Net Protections (A) ^ 724395

Net Protections (A)

ZEISS: Commercializing Science ^ 725359

ZEISS: Commercializing Science

Karl Lamprecht, President and CEO of the ZEISS AG Group, mused on how far ZEISS had come in 175 years of being a pioneer in optics, and how the course he had charted since taking the helm of the company could keep it on track. In his role, he oversaw the...

Negotiating Peace in Colombia ^ 923006

Negotiating Peace in Colombia

This case follows the protracted armed conflict between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC), tracing it from its origins over 50 years ago, through the private and public negotiations that ultimately resulted in...

Note on CEO Succession in Family Enterprises ^ 625030

Note on CEO Succession in Family Enterprises

This note aims to offer guidance and insights into navigating CEO succession, whether involving family or non-family executives, and emphasizes the importance of providing clarity on the criteria for selection. By understanding the nuances and best...

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  1. HBS Case Selections - Harvard Business Review

    Get the perspectives and context you need to solve your toughest work problems with these immersive sets of real-world scenarios from Harvard Business School.

  2. Top 40 Most Popular Case Studies of 2021 | Yale School of ...

    The top 40 cases were supervised by 19 different Yale SOM faculty members, several supervising multiple cases. CRDT compiled the Top 40 list by combining data from its case store, Google Analytics, and other measures of interest and adoption.

  3. Research: Business Case Studies: Open Access Cases

    A number of universities and organizations provide access to free business case studies. Below are some of the best known sources.

  4. Cases | Harvard Business Publishing Education

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  5. Research Guides: Business Case Studies: Free Case Studies

    The Open Case Studies project at UBC brings together faculty and students from different disciplines to write, edit, and learn with case studies that are free and open. Short video case studies covering topics including consumer goods, services, and technology.

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