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Covers President Lula's challenges to reduce "Brazil cost" and grow like other BRIC countries (Brazil, Russia, India, and China). Experts agreed that for Brazil to grow like other BRIC countries, the Brazilian government would have to reduce the cost of doing business in the country ("Brazil cost"). At the same time, President Lula's challenge is to develop programs that accelerate growth without undermining the progress achieved in reducing inequality and poverty. Can the Brazilian government reverse inequality and grow at the same time? What development strategy should Lula follow in his second term? Does Brazil belong in BRIC? What do these countries have in common?

This case focuses on the conflict between the Hedge Funds and the Board and Management of Deutsche Börse, following Deutsche Börse's hostile offer for the London Stock Exchange. It allows participants to role play the perspectives of the Supervisory Board, led by Dr. Breuer, the CEO, Werner Seifert, the Hedge Funds (TCI, Atticus) and traditional investors (including Fidelity and Merrill Lynch).

This case describes the meteoric rise of Brita in the US market, following the acquisition of local rights by The Clorox Company in 1989, until a sudden decline in 1999. The case details the various failed strategies attempted by the brand between 1999 and 2006 and poses the question as to what Brita should do to turn its fortunes around. The case presents the results of a recent segmentation study, which holds the key to developing the turnaround strategy.

Infosys is a highly respected, India-based information technology (IT) software service provider, established in July 1981. The ramp-up of the company has been particularly spectacular during the last several years, starting from 1995. The initial business model related to labor arbitrage and was based upon differential wage rates for IT professionals in India and the developed countries. The boom of the late 1990s, catalyzed by the Y2K-related problems, resulted in opportunities that the company capitalized upon. Today the company serves clients drawn from global 2000 companies. Based upon its strong ethical and principled approach, execution excellence, relentless quest for quality and customer satisfaction, the company had astounding financial success and became a darling of the stock markets both in India and the United States. Notwithstanding its successful track record, Infosys has over the last several years, proactively been applying itself to a fundamental question of identifying the drivers of success for the next 10 years. Infosys has been deeply concerned about leveraging its current strong position, to evolve into a much stronger company, so as to ensure continued growth and success in the long-term. The case presents the challenges that Infosys has been grappling with, and invites participants to come up with creative solutions, going forward.

Bladelogic, a high flier in the large and growing market of data center automation software, had reached a critical juncture. The company, which had already garnered two rounds of venture funding and closed deals with dozens of blue-chip firms, appeared to be headed in the right direction. Revenues, however, were becoming increasingly hard to forecast. As the CEO, Dev Ittycheria's leadership position was entirely based on his ability to execute in a tough, high-stakes environment. Monthly board meetings were becoming increasingly tense; Bladelogic was becoming vulnerable to missing its revenue forecasts unless one or two "big" deals came through at the end of each quarter. With less than twelve months of cash left at the firm's current burn rate, Dev knew that they were going to need another round of capital well ahead of schedule. Current investors were in no mood to put more money in at a higher valuation, so the company was facing the very real prospect of a down round . Dev knew they had to get additional capital fast...but how could he secure a new financing round without the participation of existing investors? At what price would the current investors participate?

Cities, buildings, products, services, systems, and strategies all face the same need to combine expertise, insight, engagement, and adaptation. As a result, it is time to confront the tensions of design, say the authors, who then define three approaches to design: the formulaic approach, exemplified by planned-city Brasilia; the visionary approach, exemplified by IKEA; and the evolutionary approach, exemplified by Linux. Along the way they show that design is not just a metaphor for management, but the very essence of it.

Exponential economic growth in the western world began in the late-18th century and has continued, more or less unabated, until the present. However, the author warns that anyone who believes that the future will be a straightforward continuation of the past must address the fact that seven key drivers of past growth in industrialized countries are showing signs of saturation or exhaustion. Only one of the seven is a viable driver of future economic growth: increasing the technological efficiency of converting resource inputs into 'useful work' and power. The author also looks ahead to the next century and outlines the key obstacles to sustainability by 2100, outlining some of the harsh realities that our mistreatment of the environment will reap.

Retailers live or die by a simple creed: stock products that sell, and don't stock products that don't sell. As North American and European companies source more of their goods from China, the risk of getting this wrong increases dramatically. Some companies - including Wal-Mart, Home Depot and Toyota -- are having second thoughts about their China-sourcing strategies, and are either reworking their North American logistics networks or even retreating from China. The authors argue that a firm focus on reducing time and variability in the China-anchored supply chains serving North America and Europe can help companies dramatically reduce their costs, improve their margins, and build competitive advantage. They show why North American and European companies should be looking closer to home, where the cost-of-labor penalty (relative to labor rates in China) is more than compensated for by superior supply-chain performance that is significantly less variable and virtually unaffected by port and surface-capacity constraints.

In the last two decades, Behavioral Economics (the importation of ideas from Psychology to Economics) has become a prominent fixture on the intellectual landscape. In turn, it has spawned the field of 'Neuroeconomics', whereby ideas from Neuroscience are imported into Economics. The study of the human brain and nervous system is beginning to allow for direct measurement of thoughts and feelings; and this, in turn, is challenging our understanding of the relation between mind and action, leading to new theoretical constructs and calling old ones into question. The authors describe the findings to date, covering automatic vs. controlled processes and cognitive vs. affective processes, and their general implications for Economics.

Yesterday's approaches to problem solving just won't cut it in today's complex environment, say the authors. The high-value decision maker of the future will be characterized by a capacity for Integrative Thinking. They show that Integrative Thinking stands not as an enemy to traditional business disciplines, on whose shoulders it can be seen to squarely rest, but rather as a constructive challenge to produce more adaptive-reasoning patterns, more valuable instruments of prediction, and a more inclusive approach to inter-disciplinary dialogue. The new model for business education they argue for acknowledges the vital role of integration in modern business, stressing the virtues of 'nimble mindedness', 'big mindedness' and 'tough mindedness' over the seductive trap of narrow perfectionism.

A combination of sheer size and spectacular growth has China on course to become the world's largest economy by 2020. It is also the world's second-largest recipient of foreign direct investment, behind the U.S. Continued balanced growth for China will require an increasingly-sound financial system, says the author, who explains the consequences of China's forthcoming banking and financial sector reform and why such reform presents a unique and crucial challenge within China's economic transition from central planning to a market economy.

Two-party term sheet negotiation between a venture capitalist and the founder of an aerospace start-up company in which participants are scored both on their substantive performance and on the other party's perception of the relationship. The venture capital (VC) firm Aerovent Capital is considering a $100 million investment in the startup company Earth Escape. The founder of Earth Escape and the lead partner from Aerovent Capital must negotiate a term sheet outlining eight significant terms of the investment. Both parties are concerned with structuring a deal that protects their substantive investment interests and with creating a positive foundation for their potential collaboration. The simulation introduces the incorporation of process and relationship interests into negotiation strategy.

Two-party term sheet negotiation between a venture capitalist and the founder of an aerospace start-up company in which participants are scored both on their substantive performance and on the other party's perception of the relationship. The venture capital (VC) firm Aerovent Capital is considering a $100 million investment in the startup company Earth Escape. The founder of Earth Escape and the lead partner from Aerovent Capital must negotiate a term sheet outlining eight significant terms of the investment. Both parties are concerned with structuring a deal that protects their substantive investment interests and with creating a positive foundation for their potential collaboration. The simulation introduces the incorporation of process and relationship interests into negotiation strategy.

Two-party term sheet negotiation between a venture capitalist and the founder of an aerospace start-up company in which participants are scored both on their substantive performance and on the other party's perception of the relationship. The venture capital (VC) firm Aerovent Capital is considering a $100 million investment in the startup company Earth Escape. The founder of Earth Escape and the lead partner from Aerovent Capital must negotiate a term sheet outlining eight significant terms of the investment. Both parties are concerned with structuring a deal that protects their substantive investment interests and with creating a positive foundation for their potential collaboration. The simulation introduces the incorporation of process and relationship interests into negotiation strategy.

When did you realize you had the right stuff to lead? HBR's editors put that question to a group of business leaders representing different industries, nationalities, executive tenures, and company sizes. The answers were as diverse as the group itself. Nokia CEO Olli-Pekka Kallasvuo recounts a lesson in humility, learned when he was a young CFO and it wasn't clear each month that the company would be able to pay salaries the next. Gary Jackson describes the challenge of preserving his military-training company's high-energy culture, largely through his own example. Arthur Gensler's story highlights the importance of vision in growing his architectural firm and refusing to be constrained by the traditions of a hidebound industry. A world away, Alexander Cummings tells the harrowing tale of withstanding quarter after quarter of declining margins and market share--and intense pressure from his boss, and his boss's boss--because he had conviction that a controversial decision he made at Coca-Cola Africa would prove right in the end. Roche CEO Franz Humer recounts how he learned to trust his intuition, particularly when the rest of his organization was inclined to see only the downside risk in a deal. Other leaders' moments of truth involved tests of still different qualities. Duleep Aluwihare of Ernst & Young in Poland learned from painful encounters with a mentor in his old firm, Arthur Andersen, that he must change his leadership style. Sergey Petrov, the founder of Russia's largest car importer, developed the perspective required of a leader when he was a young dissident held for questioning by the KGB. Finally, Alan Klapmeier of private-aircraft manufacturer Cirrus Design tells of the passion required to bring something truly innovative to market despite recalcitrant board members and the catastrophic loss of a prototype.

A leadership crisis has erupted at Barker Foods. Doug Lothian, the national sales director of the chocolates and confections division, was just fired for making some bad marketing choices, engaging in questionable selling behaviors, and, ultimately, losing the confidence of his customers and his staff. As a result, there's a schism in Sales. Senior managers are wondering whether a competency model would help the company replace Doug with the right kind of leader and prevent other leadership problems from cropping up. HR director Anne Baxter thinks Doug's situation is the perfect example of why Barker Foods needs to define exactly what it's looking for from its top people. Colin Anthony, the CEO, has given Anne the go-ahead to work with a special task force on a framework that would not only highlight the critical values, knowledge, and skills necessary to lead any of the company's divisions but also identify the corresponding tasks, behaviors, and measures of success. Colin has asked Anne and her team to present their findings to the executive committee, which has voiced mixed opinions about competency modeling. On the one hand, it makes sense to hire and develop the right people to execute the company's strategy; on the other, it doesn't seem wise to oversimplify the work that senior executives do--and boiling down great leadership to a checklist of qualities could be a step in that direction. Should the executive committee go forward with plans for competency modeling? Commenting on this fictional case study in R0701B and R0701Z are: Reuben Mark, chairman of Colgate-Palmolive; Rebecca Ray, senior vice president for global learning and organizational development at MasterCard Worldwide; George Manderlink, a partner in Heidrick & Struggles Leadership Consulting; and Dave Ulrich, a cofounder of the RBL Group, a leadership consultancy.

Most people acknowledge that networking is an essential activity for an ambitious manager. Indeed, it's a requirement even for those focused simply on doing their current jobs well. For some, this is a distasteful reality. Working through networks, they believe, means relying on "who you know" rather than "what you know"--a hypocritical, possibly unethical, way to get things done. But even people who understand that networking is a legitimate and necessary part of their jobs can be discouraged by the payoff--because they are doing it in too limited a fashion. On the basis of a close study of 30 emerging leaders, the authors outline three distinct forms of networking. Operational networking is geared toward doing one's assigned tasks more effectively. It involves cultivating stronger relationships with colleagues whose membership in the network is clear; their roles define them as stakeholders. Personal networking engages kindred spirits from outside an organization in an individual's efforts to learn and find opportunities for personal advancement. Strategic networking puts the tools of networking in the service of business goals. At this level, a manager creates the kind of network that will help uncover and capitalize on new opportunities for the company. The ability to move to this level of networking turns out to be a key test of leadership. Companies often recognize that networks are valuable, and they create explicit programs to support them. But typically these programs facilitate only operational networking. Likewise, industry associations provide formal contexts for personal networking. The unfortunate effect is to give managers the impression that they know how to network and are doing so sufficiently. A sidebar notes the implication for companies' leadership development initiatives: that teaching strategic networking skills will serve their aspiring leaders and their business goals well.

Even for the most gifted individuals, the process of becoming a leader is an arduous, albeit rewarding, journey of continuous learning and self-development. The initial test along the path is so fundamental that we often overlook it: becoming a boss for the first time. That's a shame, because the trials involved in this rite of passage have serious consequences for both the individual and the organization. For a decade and a half, the author has studied people -- particularly star performers -- making major career transitions to management. As firms have become leaner and more dynamic, new managers have described a transition that gets more difficult all the time. But the transition is often harder than it need be because of managers' misconceptions about their role. Those who can acknowledge their misconceptions have a far greater chance of success. For example, new managers typically assume that their position will give them the authority and freedom to do what they think is best. Instead, they find themselves enmeshed in a web of relationships with subordinates, bosses, peers, and others, all of whom make relentless and often conflicting demands. "You really are not in control of anything," says one new manager. Another misconception is that new managers are responsible only for making sure that their operations run smoothly. But new managers also need to realize they are responsible for recommending and initiating changes--some of them in areas outside their purview--that will enhance their groups' performance. Many new managers are reluctant to ask for help from their bosses. But when they do ask (often because of a looming crisis), they are relieved to find their superiors more tolerant of their questions and mistakes than they had expected.

A division vice president blows the whistle on corruption at the highest levels of his company. A young manager refuses to work on her boss's pet project because she fears it will discredit the organization. A CEO urges his board, despite push back from powerful, hostile members, to invest in environmentally sustainable technology. What is behind such high-risk, often courageous acts? Courage in business, the author has found, seldom resembles the heroic impulsiveness that sometimes surfaces in life-or-death situations. Rather, it is a special kind of calculated risk taking, learned and refined over time. Taking an intelligent gamble requires an understanding of what she calls the "courage calculation": six discrete decision-making processes that make success more likely while averting rash or unproductive behavior. These include setting attainable goals, tipping the power balance in your favor, weighing risks against benefits, and developing contingency plans. Goals may be organizational or personal. Tania Modic had both types in mind when, as a young bank manager, she overstepped her role by traveling to New York -- on vacation time and on her own money -- to revitalize some accounts that her senior colleagues had allowed to languish. Her high-risk maneuver benefited the bank and gained her a promotion. Lieutenant General Claudia J. Kennedy weighed the risks and benefits before deciding to report a fellow officer who had plagiarized a research paper at a professional army school. In her difficult courage calculation, loyalty to army standards proved stronger than the potential discomfort and embarrassment of "snitching" on a fellow officer. When the skills behind courageous decision making align with a personal, organizational, or societal philosophy, managers are empowered to make bold moves that lead to success for their companies and their careers.

When a CEO leaves because of performance problems, the company typically recruits someone thought to be better equipped to fix what the departing executive couldn't--or wouldn't. The board places its confidence in the new person because of the present dilemma's similarity to some previous challenge that he or she dealt with successfully. But familiar problems are inevitably succeeded by less familiar ones, for which the specially selected CEO is not quite so qualified. More often than not, the experiences, skills, and temperament that yielded triumph in Act I turn out to be unequal to Act II's difficulties. In fact, the approaches that worked so brilliantly in Act I may be the very opposite of what is needed in Act II. The CEO has four choices: refuse to change, in which case he or she will be replaced; realize that the next act requires new skills and learn them; downsize or circumscribe his or her role to compensate for deficiencies; or line up a successor who is qualified to fill a role to which the incumbent's skills and interests are no longer suited. Hewlett-Packard's Carly Fiorina exemplifies the first alternative; Merrill Lynch's Stanley O'Neal the second; Google's Sergey Brin and Larry Page the third; and Quest Diagnostics' Ken Freeman the fourth. All but the first option are reasonable responses to the challenges presented in the second acts of most CEOs' tenures. And all but the first require a power of observation, a propensity for introspection, and a strain of humility that are rare in the ranks of the very people who need those qualities most. There are four essential steps executives can take to discern that they have entered new territory and to respond accordingly: recognition that their leadership style and approach are no longer working; acceptance of others' advice on why performance is faltering; analysis and understanding of the nature of the Act II shift; and, finally, decision and action.