@article{jbe20251211,
author={{Mueller, Judith and Jones, Carly and Varco, Michael},
title={A Case Study: ¡°Theranos - The White Elephant That Wanted to Be a Unicorn¡±},
journal={Journal of Behavioural Economics Finance Entrepreneurship Accounting and Transport},
volume={12},
number={1},
pages={1--16},
year={2025},
url={https://pubs.sciepub.com/jbe/12/1/1},
issn={2376-1334},
abstract={The Theranos case exemplifies a highly publicized failure in public health leadership that jeopardized patient safety and undermined public trust in blood testing diagnostics. This case study examines the leadership failures that led to Theranos's downfall and eventual closure in 2018 from Elizabeth Holmes's perspective as she reflects on her journey while standing trial in 2021. By adopting Kotter¡¯s change management framework and incorporating deontological principles into her leadership style during her tenure as CEO of Theranos from 2003 until the scandal¡¯s exposure in the <i>Wall</i><i> </i><i>Street</i><i> </i><i>Journal</i> in 2015, Holmes could have transformed Theranos into a success story. The recommendations provided are presented as an ¡°Ethical Disruptor Roadmap¡±, which seeks to bolster Kotter¡¯s structured framework with a foundation in deontological principles. This roadmap aims to guide emerging biotech companies that are developing similar blood testing technologies to avoid the ¡°Theranos Effect," which has left a lasting (blood) stain on the industry.},
doi={10.12691/jbe-12-1-1}
publisher={Science and Education Publishing}
}