Calyx Global: Improving the Quality of Carbon Credits

Ming Min Hui, executive director of Boston Ballet, is unique in her field. As a young, Asian American woman with a HBS MBA and a background in finance, she focuses on ensuring the ballet company stays true to its art form and still relevant to its times. Hui had worked for eight years at Boston Ballet as chief of staff and chief financial officer before taking the helm. Now leading one of the foremost ballet companies in the U.S., she confronted evolving demographics, shifting audience habits, and an increasingly challenging financial environment. Harvard Business School Assistant Professor Edward Chang and Hui join host Brian Kenny to discuss the case Ming Min Hui at Boston Ballet. They explore how she balances the past, present, and future—and how these lessons translate from this nonprofit arts organization to any company, anywhere.

Bill Wilson was an incredibly entrepreneurial young man with tremendous potential. He was also a drunk, until an epiphany made him sober. With his personal drive and fellowship with former drinking buddies, Wilson built a social movement and worldwide organization. Founded in 1935, Alcoholics Anonymous has helped millions of “friends of Bill” recover from alcohol addiction. In this episode of Cold Call, HBS Professor Robert Simons joins host Brian Kenny to discuss the case, “Bill Wilson: Changing the World.” They explore how Wilson navigated life’s choices, transformed his life and those of others, and left a lasting impact on the world.

Keurig Green Mountain (KGM) invented a category and became a household name in at-home coffee brewing in North America. But by the early 2010s, the public company suffered a series of product missteps, negative media scrutiny, and challenging partner relationships. In late 2015, the company was acquired by JAB Holding Company. The new CEO Bob Gamgort first strengthened partnerships, raised productivity, and reduced costs. In 2017, the company then focused on new growth. Gamgort considered four major options: take the company public again through an IPO; set out for greater global expansion; combine with another coffee business to become a larger player in North American coffee; or diversify beyond coffee through a “pure play beverage” strategy. In this conversation, HBS Senior Lecturer David Fubini and Research Associate Patrick Sanguineti discuss the four strategic options from their case study, “Keurig: A Return to Growth.”

The 2023 movie Barbie and its accompanying marketing blitz reinstated a celebrated icon at the forefront of cultural conversation. This sudden goodwill stood in contrast to decades of criticism of the Barbie brand. Although proponents had celebrated Barbie for her promise to “inspire the limitless potential in every girl,” detractors felt that the doll promoted a narrow beauty standard and perpetuated gender stereotypes. In this episode of Cold Call, HBS Professor Elie Ofek and coauthor Ryann Noe join host Brian Kenny to discuss the case “Barbie: Reviving a Cultural Icon at Mattel.” They explore how Mattel planned to sustain the Barbie brand’s positive momentum and replicate its success across other toy brands.

Launched in 2011, Duolingo grew into the most downloaded education app in the world. Its gamified approach to language learning and use of adaptive AI technology helped it reach 100 million monthly active users and a market capitalization approaching $15 billion by late 2024. The company also saw the potential of Gen AI to power innovative products beyond languages. CTO Severin Hacker envisioned a future in which AI would transform the app into an educational ecosystem, tapping into the $56 billion edtech market. HBS Senior Lecturer Jeffrey Rayport and coauthor Nicole Keller join host Brian Kenny to discuss the case “Duolingo: On a Streak” and the long-term benefits and risks of this diversification strategy.

In 1952, Palenstinian refugee Elia Nuqul started a trading business in Jordan. Nuqul Group subsequently grew into one of the country’s largest family businesses. Its flagship company, Fine Hygienic Holding (FHH), was a leader in hygienic paper products across the Middle East and North Africa. After Nuqul’s death in 2022, his son Ghassan and three siblings decided to split the Group’s assets so that each branch of the family could forge its own path. They were in discussions to finalize the details of the agreement. In this episode, FHH chairman Ghassan Nuqul and HBS Senior Lecturer Christina Wing join host Brian Kenny to discuss enduring family businesses, a founder’s  legacy, and how business decisions affect family ties in the case “Ghassan Nuqul and the Nuqul Group: Preserving a Father's Legacy.”

In 2021, Donna Lee and Duncan van Bergen founded Calyx Global to improve the quality of carbon credits sold in the voluntary carbon market. Organizations buy those credits for their decarbonization efforts to meet net-zero commitments. The startup had carefully avoided perceptions of conflicts of interest. But it was a challenging time for the industry. Lee and van Bergen had to decide whether tapping new revenue streams would jeopardize their trustworthy reputation. In this episode, HBS Professor Mike Toffel and Duncan van Bergen discuss the company’s business model, its approach to ratings, and the emerging competitive landscape in the case, “Calyx Global: Rating Carbon Credits.”

How important is it to maintain a happy workforce? With this question in mind, Lanco Medical Group, a small but fast-growing pharmaceutical distributor serving Latin America, designed their employee benefits and incentives program. But there were gaps between what leadership believed motivated employees and what employees truly valued. So, the organization collected data about those drivers. Priorities varied by age group, organizational role, and geographic locations. In this episode, HBS Professor Susanna Gallani discusses the case “Lanco Medical Group: Fostering Happiness for Growth” and the tensions between accommodating employees' preferences, maintaining fairness, and operating a manageable incentive program amid aggressive international growth targets.

Porsche has reigned as a leading sports and luxury car company for nearly 80 years. Central to the German automaker’s growth strategy is creating great products, such as the legendary 911 Carrera sports car. But the automotive industry is facing disruption and new competition. Company leadership is adapting Porsche’s product portfolio, recently adding the electric model Taycan. They’re also innovating new customer experiences like the “Track Your Dream” program. In this episode, Harvard Business School Professor Stefan Thomke explores the company’s bid to stay relevant and true to its legacy in the case “Porsche.”

Google formally announced the innovative video game service Stadia at the 2019 Game Developer Conference. The company invested substantial resources to support the demanding requirements of cloud gaming. But the early uptake by premium video gamers was disappointing. The leadership team faced a decision. Should they double down by refocusing Stadia on the casual gamer segment? Or should they pull the plug? In this episode, Harvard Business School Senior Lecturer Derek van Bever and coauthor Akshat Agrawal explore Google’s strategic choice in the case “Google Stadia: Game On or Game Over?”