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With software development (SD) constituting one of the largest portions of corporate capital expenditures, an organization's capability to manage the SD process is a key success factor. Additionally, SD is increasingly an important driver of successful technology‐based products as evidenced by the interdependence of software and hardware in telecommunications equipment, computers, medical devices, measurement/monitoring equipment, and industrial controls equipment. Building high‐performing SD teams that utilize state‐of‐the‐art development processes increases the likelihood that firms can compete and meet the ever‐expanding expectations of stakeholders. We first introduce the generic process models of SD and then address a number of major issues that can arise in the course of building highly effective SD teams. We then identify a number of best practices that can improve SD teams, both in terms of technical and intragroup aspects, and the role that senior management can play in reinforcing effective project team behaviors. Finally, we address the concept of capturing learning from SD project teams and advance several areas for future research.

The COVID‐19 crisis will continue to have an immense impact on society, especially on the economic livelihood of ordinary people worldwide. Given the role of business schools in training managers to lead organizations and people across industry, the COVID‐19 crisis highlights a new opportunity to reflect on the purpose of the business school, which stakeholders it serves, and how it might evolve toward broader consideration and effective anticipation/response to pressing societal issues. Thus, we set out in this study to investigate these questions by examining the role that Harvard Business School played during World War 2, a crisis that also had an unprecedented impact on society. Based on this examination, we highlight the importance of flexibility and organizational innovation in times of crisis. We also discuss how the business school might expand its focus and its audience to consider broader societal issues, allowing it to better prepare students to serve society in the future, where the next crisis might be right around the corner.

Markets, corporations, shareholding, management, law, and ethics are all human constructs. A human element seems essential to their existence. Yet, the predominant conception of shareholders as used in academia as well as the business world is thin, generic, and inanimate. This article argues that a thick conception of shareholders as human beings is needed to legitimize and improve managerial decision making under value pluralism, accurately reflect empirical reality of capital markets, and meet moral demands to respect the dignity of the human person. Drawing on the philosophical idea of thick evaluative concepts, the article explores how this idea can be applied to shareholders and begins to examine some of the implications of considering shareholders’ humanity for the responsibilities of and relationships between managers and shareholders.