HBR IdeaCast

How Companies Can Adapt to More Government Intervention

Aug 1, 2023

Willy Shih, a Harvard Business School professor and author, dives into the evolving landscape of industrial policy and government intervention. He discusses how crises like the pandemic and climate change have shifted the balance toward more government involvement in businesses. Shih highlights new challenges and opportunities for companies, including adapting to subsidies and localized strategies. He emphasizes the importance of CEOs engaging with policymakers to effectively navigate these changes and improve communication between sectors.

26:04

Creator website

Episode guests

Willy Shih

AI Chapters

Episode notes

Intro

2min

Evolving Industrial Policies and Global Competition

9min

Navigating the Shift: Government Intervention and Market Dynamics

4min

Navigating Industrial Policy: The Role of CEOs in Government Engagement

3min

Navigating Global Policy Challenges

9min

After decades of industrial policy that favored globalization and free trade, we are entering a new era. Prompted by the pandemic, climate change, rising geopolitical tensions and economic concerns, countries and groups of countries are once again using the power they have to intervene in the private sector, whether it's investing in drug development, offering clean energy tax breaks, or incentivizing domestic manufacturing. Harvard Business School professor Willy Shih wants to help corporate leaders navigate these changes in a way that protects their businesses, workers, and customers. He explains the new challenges - as well as opportunities. Shih wrote the HBR article, "The New Era of Industrial Policy is Here."

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