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Issues Spring 2025

Volume 67
Issue 3


Table of Contents

Special Section: Megaprojects

Escaping the Governance Trap: Insights from New Infrastructure Development “Megaprojects”
by Nuno Gil and Sara Beckman

Escaping the Governance Trap: Insights from New Infrastructure Development “Megaprojects”

This introduction presents a 2 × 2 framework categorizing megaproject governance based on legal mandates for stakeholder inclusion and the degree of shareholder-centric investment decisions.

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Value Pathways in Emergent Programs: Tackling Grand Challenges in the Swedish Transportation Industry
by Ermal Hetemi, Jonas Söderlund, Sofia Pemsel, and Anna Jerbrant

Value Pathways in Emergent Programs: Tackling Grand Challenges in the Swedish Transportation Industry

This article leverages an in-depth case study of Sweden’s High-Capacity Transport program to develop a process model that demonstrates how three interconnected value pathways enhanced collective value creation.

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Sustainability Real Options
by Han Smit

Sustainability Real Options

An extended net present value that includes societal real options can assess the value of phasing in renewables and phasing out fossil fuels.

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Chipping Away at a Grand Challenge: Aligning Goal and Governance to Reduce Homelessness
by Nuno A. Gil, Sara Beckman, Felipe Massa, Cristina Sousa, and Özge Kutun

Chipping Away at a Grand Challenge: Aligning Goal and Governance to Reduce Homelessness

How can public, private, and nonprofit actors collaborate to address today's deepest problems?

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Major Program Value Creation and Capture: The S3 Framework for Mitigating Risk Propagation to Maximize Opportunities
by Daniel Erian Armanios, Marc J. Ventresca, Maher K. Itani, and Malcolm McCulloch

Major Program Value Creation and Capture: The S3 Framework for Mitigating Risk Propagation to Maximize Opportunities

To better track risk propagation within major programs, this article reconceptualizes large-scale, mission-critical initiatives as temporary ecosystems or interlinked organizations whose project-based interdependencies last until the program’s conclusion.

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Security

Why Individuals Commit Professional Misconduct and What Leaders Can Do to Prevent It
by William S. Harvey, Navdeep Arora, Graeme Currie, and Dimitrios Spyridonidis

Why Individuals Commit Professional Misconduct and What Leaders Can Do to Prevent It

Drawing on data from white-collar inmates in a United States Federal Prison, this article explains what causes individuals to commit misconduct.

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Supporting Intellectual Property Protection: Blockchain Technology as a Catalyst for Open Innovation
by Stephan M. Wagner, Alexander A. Fink, Jonas F. Ehrnsperger, and Philipp Düpree

Supporting Intellectual Property Protection: Blockchain Technology as a Catalyst for Open Innovation

This article shows that while blockchain technology is not the solution to all IP protection problems, it has the potential to significantly improve the status quo by creating an immutable record of the existence, integrity, and ownership of files at specific points in time.

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Current Issue
Summer 2025 | Volume 67 Issue 4

 Summer 2025  

Profiting from AI

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Published at Berkeley Haas for more than sixty years, California Management Review seeks to share knowledge that challenges convention and shows a better way of doing business.

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