Harvard Business Review Case Study Note On Budgeting Spreadsheet

Lawrence E. Fouraker Professor of Business Administration, Emeritus

THOMAS R. PIPER, Baker Foundation Professor and Lawrence E. Fouraker Professor of Business Administration, Emeritus, is a faculty member in the Finance and Accounting Units at the Graduate School of Business Administration.  He has taught in the MBA Program, as well as in other Executive Education courses, including the Advanced Management Program and General Management Program.  He served as chairman of the MBA Policy Committee and was senior associate dean for 13 years.

Presently, he is studying ethics and corporate responsibility for future business leaders and shares responsibility for the School's efforts in the area of values, leadership, and corporate responsibility. He also oversaw two Senior Executive Programs sited in the Middle East and South Africa and was instrumental in an initiative to help establish outstanding market-oriented business schools in Central and Eastern Europe.

Professor Piper is the author of The Economics of Bank Acquisitions and a coauthor of Case Problems in Finance, now in its eleventh edition (with W. Fruhan, W. Kester, and R. Ruback) and Can Ethics Be Taught? (with M. Gentile and S. Parks). He is a consultant in the field of corporate financial management and was a director of FleetBoston Corporation, Marriott Corporation, and GenRad.

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George Fisher Baker Jr. Professor of Business Administration, Emeritus

Mr. Crane was a member of the Finance Faculty at Harvard Business School for a number of years, working primarily in the field of financial institutions and corporate governance.  He taught in the MBA and executive education programs at the School, most recently serving as Chair of the Owner/President Management Program and teaching Financial Management in this program for entrepreneurial executives. He continues to be a faculty member in "Making Corporate Boards More Effective" and other executive programs at the Harvard Business School.

Professor Crane was Senior Associate Dean at Harvard Business School for eight years, including service as Director of Faculty Development and Director of Research. Most recently he was the Chair of the School's European Research Initiative. He was also one of the faculty coordinators of the HBS Global Corporate Governance Initiative.

He has been a consultant to a number of financial institutions and companies in the United States and abroad. Professor Crane is a member of the Board of Legg Mason Partners Equity Funds and serves as Lead Director. He was formerly a Director of the Harvard Business School Publishing Corporation and has served on the boards of other private and public companies.  He is also Chair of the Board of Trustees of Old South Church in Boston.

Professor Crane's research work has included a number of topics related to financial service firms, financial management and coporate governance.  This work has led to several co-authored books, including The Global Financial System: A Functional Perspective and Doing Deals: Investment Banks at Work. He has also published numerous articles in Harvard Business Review, Financial Analysts Journal, Journal of Portfolio Management, Journal of Financial Services Research, California Management Review, and other journals.

Prior to joining the Harvard Business School faculty, Professor Crane was an economist and Director of Operations Research at Mellon Bank in Pittsburgh. He is a graduate of the Massachusetts Institute of Technology and attended the University of Michigan for his MBA. He received his Ph.D. in Economics from Carnegie Mellon University.

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