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When car rental companies sign you up for insurance unless you actively decline it, or software vendors recommend you click "next" for a quick install, they're choosing default options for you - covertly or overtly guiding your choices. Well-designed defaults benefit both company and consumer, simplifying decision making, enhancing customer satisfaction, reducing risk, and driving profitable purchases. Ill-conceived defaults can leave money on the table, fuel consumer backlashes, put customers at risk and trigger lawsuits - costing companies dearly. Despite those high stakes, management pays little attention to default policies. Setting defaults requires companies to balance a complex array of interests, including customers' wishes and the company's desire to maximize profits while minimizing risk. At a basic level, defaults can serve as manufacturer recommendations, and more often than not we're happy with what we get. Most companies also strive to set defaults in ways that align with customers' preferences. In its online auto configurator, for example, Audi preselects silver metallic as the default color because it's the most popular. Of course, defaults can be nefarious as well. They have caused many of us to purchase unwanted extended warranties or to inadvertently subscribe to mailing lists, for example. The authors provide a taxonomy of default types and guidance on when - and when not - to use each type. They range from "benign defaults," representing a company's best guess about which single product configuration would be most acceptable to most customers, to "adaptive defaults" that change depending on individual customers' stated preferences.

For over a century, start-ups began by focusing on their home markets. More and more, however, are now being born global - chasing opportunities created by distance, learning to manage faraway operations, and hunting for the planet's best manufacturing locations, brightest talent, most willing investors, and most profitable customers wherever they may be - from day one. That's not easy. In his research, Harvard professor Isenberg has found that global start-ups face three challenges. First are the logistical problems and psychic barriers created by distance and by differences in culture, language, education systems, religion, and economic development levels. Even something so basic as accommodating the world's various workweek schedules can put a strain on a small start-up's staff. Second is managing the challenges (and opportunities) of context - that is, the different nations' political, regulatory, judicial, tax, and labor environments. Third, like all new ventures, global start-ups must find a way to compete with bigger incumbents while using far fewer resources. To succeed, Isenberg has found, global entrepreneurs must cultivate four competencies: They must clearly articulate their reasons for going global, learn to build alliances with more powerful partners, excel at international supply chain management, and create a multinational culture within their organization. Entrepreneurs shouldn't fear the fact that the world isn't flat. Being global may not be a pursuit for the fainthearted, but even start-ups can thrive by using distance to gain competitive advantage.

Henrietta Mercer, the senior vice president for human resources at LaSalle Chemical, is facing a challenge unprecedented in her career: Steve Ambler, recently appointed the company's group sales director, has decided to change his gender identity. Before Henrietta can finish crafting a corporate response, someone slips a copy of her confidential memo to the executive committee to one of Steve's colleagues, whose outraged reaction suggests the difficulties that may lie ahead. How can she help him transition in a workplace where not everyone is on board with the plan? Three experts comment on this fictional case study in R0811A and R0811Z. Linda E. Taylor, the director of work life, equity, and inclusion at Raytheon Missile Systems, advises Henrietta to offer lots of gender identity training. When Raytheon employees question the morality of condoning transgender choices, she replies that the company doesn't pass judgment on its employees' private lives and that working for Raytheon means adhering to its policy of inclusion. Ronald K. Andrews, a vice president and head of human resources at Prudential, says it is crucial to work very closely with the person transitioning and points out that the individual's courage may be what most strikes colleagues. Prudential held a meeting to educate account executives and provide them with talking points before they spoke directly to key clients - not one of whom was lost. Stasha Goliaszewski, a scientist and engineer at Boeing, started her gender transition after four years with the company. HR support helped with other employees, and her professional expertise helped when she called on customers. She advises large companies to prepare their gender-identity policies and not be caught off guard, as Henrietta was. Statistics show that, sooner or later, they are bound to encounter the issue.

Henrietta Mercer, the senior vice president for human resources at LaSalle Chemical, is facing a challenge unprecedented in her career: Steve Ambler, recently appointed the company's group sales director, has decided to change his gender identity. Before Henrietta can finish crafting a corporate response, someone slips a copy of her confidential memo to the executive committee to one of Steve's colleagues, whose outraged reaction suggests the difficulties that may lie ahead. How can she help him transition in a workplace where not everyone is on board with the plan? Three experts comment on this fictional case study in R0811A and R0811Z. Linda E. Taylor, the director of work life, equity, and inclusion at Raytheon Missile Systems, advises Henrietta to offer lots of gender identity training. When Raytheon employees question the morality of condoning transgender choices, she replies that the company doesn't pass judgment on its employees' private lives and that working for Raytheon means adhering to its policy of inclusion. Ronald K. Andrews, a vice president and head of human resources at Prudential, says it is crucial to work very closely with the person transitioning and points out that the individual's courage may be what most strikes colleagues. Prudential held a meeting to educate account executives and provide them with talking points before they spoke directly to key clients - not one of whom was lost. Stasha Goliaszewski, a scientist and engineer at Boeing, started her gender transition after four years with the company. HR support helped with other employees, and her professional expertise helped when she called on customers. She advises large companies to prepare their gender-identity policies and not be caught off guard, as Henrietta was. Statistics show that, sooner or later, they are bound to encounter the issue.

This case is set at a golf course in Aurora, Ontario. The club superintendent and the assistant superintendent will be interviewing three candidates for a green keeping position at Maple Retreat Golf and Country Club. The club superintendent must decide what questions to ask of the three applicants, keeping in mind what questions he could not ask of the candidates. This case is intended to be used for the managing people module of an organizational behavior or human resource management core course, or for a managing people elective. The case provides students with the opportunity to develop interview questions for the candidates and to interview the candidates in role play situations.

The owner of a carpet cleaning operation in Tennessee is urgently looking for solutions, after his business expansion project has failed. The owner has emulated the business model of a well-established competitor, hoping that what has worked for his competitor would also work for him. The business is churning cash fast as a result of the additional cost of personnel and equipment and could face bankruptcy in the near future.

The purpose of the venture viability research process is to identify the key questions underlying the viability of a venture, to facilitate reframing of the venture to enhance its viability, and to provide evidence to support the founders' answers to those questions. The venture viability research process for entrepreneurs is different than the process for established companies. The questions are much broader and more fundamental, the available resources are fewer, and the time urgency is usually greater. In addition, entrepreneurs often have an incomplete understanding of the market for their product and limited direct experience with potential customers. The recommended process includes: (1) prototyping of venture designs, (2) identifying and answering key viability questions, and (3) iterating between steps 1 and 2 and adding detail to both the venture design and key viability questions in the process. Entrepreneurs invariably operate on limited budgets and condensed time lines; therefore prioritization is critical to every step of the process. Viability research demands constant evaluation of the attractiveness of different prototype designs. This note will illustrate the steps above, using a series of examples. It will also provide guidance around how to answer key viability questions, using tools such as expert interviews and various types of market research.

As global inflation increases, maintaining food and fuel subsidies will be difficult for developing nations. However, because discontinuing subsidies can ignite popular protests, nations must proceed cautiously as they remove those subsidies to protect both their own interests and those of the foreign companies that invest in them.

Downturns naturally reshape customers' needs. While competitors mindlessly cut costs, you should divide your customer base into new segments, whose emerging needs you can serve - and invest in - profitably. You'll increase market share and market capitalization.

A financial services firm's ability to recover from an industry downturn depends not only on how it reacts during the slowdown but also on its state of readiness when the crunch hits. Here's what to do both before and during the unwelcome event.

"What best practice challenges the conventional wisdom about what to do in a downturn?" We put that question to our team of management bloggers at harvardbusiness.org. This article provides an edited selection of their provocative responses.

The promise of clean-energy technologies makes this renowned venture capitalist optimistic about the world's economic future. He foresees many "cleantech" successes that will pave the way to better times.

Arcadia Biosciences is an entrepreneurial California agricultural biotech company seeking to earn carbon credits by modifying commodity crops for use in China and India. Eric Rey, Arcadia's CEO, faced a strategic inflection point in early September, 2008. The company had a plan to share carbon credits allocated by the United Nations Clean Development Mechanism Executive Board to China, for use of Arcadia's rice varieties, since they enabled farmers to reduce nitrogen fertilizer use, in turn lowering greenhouse gas emissions. But the company's proprietary traits for nitrogen use efficiency, salt tolerance, and water use efficiency also had more conventional paths to market based on licensing deals to large seed companies. Alternatively, Arcadia could acquire a seed company and develop and market its seed directly. A different near-term growth area involved commercializing enriched safflower oil which had undergone several proof of concept tests and for which Rey foresaw a clear market in nutritional supplements and functional foods. The case provides context on the company; describes advances in crops genetics focused to climate change and associated resource issues of fertilizer use, water use, and soil salinity; and poses strategic choices for a start-up company operating at the intersection of business, agriculture, and climate change.

This case examines Intel's response to imitative entry by Advanced Micro Devices into the 386 microprocessor product category in which Intel had been the sole producer. The case is set in 1991 when AMD first introduces its Intel-compatible 386 processor and before Intel's response is known. The case can be used to discuss competitive interactions in pricing and marketing strategy, as well as general issues regarding entry deterrence or accommodation.

In essence, this the story of how two INSEAD MBA students had a great idea for an integrated service to take over companies' product return streams and how they turned this idea into a successful business. Cycleon was founded in 2005 to offer original equipment manufacturers an option to manage returns at a lower cost than was offered by express services, and with greater speed than possible by leveraging forward supply chain partners. It describes the reverse logistics market, Cycleon's strategic positioning, and the entrepreneurial challenges it faced.

In essence, this the story of how two INSEAD MBA students had a great idea for an integrated service to take over companies' product return streams and how they turned this idea into a successful business. Cycleon was founded in 2005 to offer original equipment manufacturers an option to manage returns at a lower cost than was offered by express services, and with greater speed than possible by leveraging forward supply chain partners. It describes the reverse logistics market, Cycleon's strategic positioning, and the entrepreneurial challenges it faced.

This note covers the basics of real estate from a portfolio manager's perspective. It examines how money is made in real estate, how real estate is valued, the differences among various types of real estate, and how to do basic financial modelling such as net present value (NPV) and internal rate of return (IRR).

This note introduces the process of preparing a budget and using the budget as a management tool to non-business students.

The general manager of the Guam Visitors' Bureau, a destination marketing organization, faces the challenge of running the island's tourism industry. There are strong interest groups, who have structured the competitive field in Guam, and the island's mature industry faces ever-increasing competition from rival destinations. The general manager must formulate a realistic strategy that acknowledges the internal and external constraints his organization faces and safeguards the competitive position of Guam.

Building on previous research, this note examines the results of a study of firms on the Fortune 1000 list from 1996 to 2004. The note brings those studies up to date by introducing more recent industry return data and extends the analysis to include a discussion of how profitability within and across industries may and does vary over time, as well as the implications of such a phenomenon. The note also details the impact of competition-specifically, the level of a given industry's concentration among its top firms-on profitability. Profitability in the study uses three metrics: return on equity (ROE), return on sales (ROS), and return on assets (ROA) to compare the firms on the Fortune 1000 list to uncover key findings.