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Sun Life Financial is a large insurance conglomerate with $14.7 billion in annual revenues. The vice-president for China must formulate an approach for his company's entrance into China. Sun Life has achieved two important milestones: the right to apply for a license and the signing of a Memorandum of Understanding for Joint Venture with China Everbright, a local securities company. The financial vice-president must consider strategic options for entry and choose a city in which to focus his efforts in getting a license. In doing so, he needs to consider Sun Life's overall priorities, strategic direction, and how he will sell the concept to senior management in Canada.

The president of Loblaw Companies Ltd. must decide what to do in response to the rumored introduction of Wal-Mart's SuperCenters (combining grocery and nonfood items) in Canada. The potential launch of SuperCenters in Canada was seen by observers as a threat to Loblaw, the market leader in Canadian grocery. Wal-Mart is a vigorous competitor, and the Every Day Low Prices strategy of Wal-Mart's SuperCenters could wean away traffic from Loblaw's various banners.

CEMEX, based in Mexico, has grown through acquisitions from a local cement producer to the world's third largest. Over the last 20 years, the company has been a consistent leader in using IT and managing business information in innovative ways in the cement and ready-mix concrete business. CEMEX has also accumulated knowledge about integrating acquired companies across the world and developing business processes that incorporate best practices in diverse countries and regions. In 2000, CEO Lorenzo Zambrano decided to codify best-practice knowledge across the company around 8 key global business processes through a three-year project called the CEMEX Way. Although implementation cost $200 million, the company could save over $120 million per year in IT and procurement costs. In 2004, the project became a permanent part of CEMEX's approach to doing business globally, but had to be modified to incorporate more local innovation and flexibility as well as to capture best-practice changes more rapidly across the company. How can CEMEX align the behaviors and values of its people and strike the right balance between local business flexibility and global standardization to grow in the future?

Molecular Insight has developed a novel biopharmaceutical to detect heart attacks. The company's unique approach to intellectual property protection uses the Hatch Waxman Act and the Orphan Drug Act. The company is struggling to raise $7 million in Series B financing. Should it continue its current strategy or change its approach? Includes color exhibits.

Kohler Co., best known for its plumbing fixtures, is a large, private family firm. As part of a recapitalization aimed at preserving family ownership of Kohler Co., nonfamily shareholders, who held 4% of common stock, were required to sell their shares to the company. A group of dissenting shareholders filed a lawsuit claiming that the buyout price undervalued their shares by a factor of five. In April 2000, Herbert V. Kohler, Jr., chairman and CEO, has to decide whether to settle with the dissenters and, if so, at what share price. The decision calls for a detailed valuation of the company at the time of the recapitalization. Provides the necessary data for students to value the company using both a discounted cash flow approach and a multiples (comparable companies) approach. Students must identify and understand the different valuation assumptions that can lead to a wide range in price, including the applicability of discounts for lack of marketability and lack of control. Exhibits are available in electronic form to facilitate analysis of the data (HBS courseware 9-205-707).

The global apparel industry is known to be a buyer-driven industry, led by retailers, marketers, and branded manufacturers. In the United States, in particular, a handful of giant retailers (Wal-Mart, Sears, Kmart, Dayton Hudson, JC Penney), which account for over two-thirds of all apparel sales, dominate the industry. In recent years, these companies have increasingly deployed information technologies to gain market knowledge, streamline their value chains, and manage their extensive global sourcing networks. In response to market demand, TAL Apparel Ltd. (TAL), a no-name Hong Kong-based garment manufacturer, has developed a sophisticated information management system to manage the supply chain for its retailer customers, thus solidifying its position in the apparel value chain. By taking ownership of the customer ordering, inventory management, and shipment dispatch functions, the manufacturer has gained valuable access to real-time market information, allowing it to venture into the design and test marketing business. Explores how a traditionally weak member in the apparel industry uses IT to gain competitive advantage in the intensely competitive global marketplace.

Since its inception in 1984, Lenovo Group Ltd. had grown from a company engaged primarily in the distribution of imported computers to being the largest IT corporation in the People 's Republic of China. Although Lenovo was able to hold onto its market leadership position, competitive pressure from Dell, IBM, Toshiba, and HP was increasing, with the company taking large hits, mainly at the hands of Dell. Engaging in a series of price wars to retain the low end of the consumer segment, Lenovo was also struggling to maintain its stronghold in corporate sales to Chinese government ministries and schools. With the PC market in China maturing rapidly, Lenovo's main challenge was to develop a business model that would not only combat Dell's direct selling model but would also take advantage of the group's traditional strengths. With a view to meeting the group's projected target of becoming a Fortune 500 company by 2010, Lenovo was looking toward tapping international markets as well as exploring product diversification strategies in the local market. Lenovo's predicament highlights the growing pains many Chinese companies faced in their efforts to become global players while defending their domestic market share from foreign rivals.

This case presents the first of two workshop descriptions and templates for the Sustainable Marketing Leadership (SML) executive program. It enables a top management team to focus on the first two steps in the four-step SML process: strategic visioning and integrated planning.

This case presents the second of two workshop descriptions and templates for the Sustainable Marketing Leadership (SML) executive program. It enables a top management team to approach the last two steps in the four-step SML process: managing performance and marketing controllership.

Spreadsheet supplement for case 605-054.

Flextronics, the world's largest contract manufacturing firm, made a strategic decision to expand its business to include original design and manufacturing (ODM) services. As an ODM supplier, Flextronics designed and built products that original equipment manufacturers (OEMs) purchased and sold under their brand names. Purchasing from an ODM allowed OEMs to bring new products to market quickly and efficiently. ODMs could sell the same basic product to many OEMs, providing substantial design and manufacturing efficiencies. Flextronics' first ODM products were cellular phone handsets. The company had substantial hardware capabilities, which grew out of its contract manufacturing experience. In 2004, Flextronics considered adding software design expertise and considered a number of approaches to accomplish this. Having learned of the outstanding reputation of Indian software companies, the company's CEO and the president of its Design and OEM Services operation visited India. Describes the contract manufacturing and design landscape in 2004, with a focus on software.

Management is struggling to meet consensus quarterly earnings-per-share numbers. Discusses a number of accounting decisions. A report indicating internal control problems in one of the company's divisions raises a Sarbanes-Oxley certification issue. A rewritten version of an earlier case.

Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments.

Introduces students to the study of corporate strategy. Focuses on questions of scope and ownership. Examines both horizontal and vertical integration. Underscores the point that economies of scope, or the existence of relationship-specific investments, are insufficient to explain effective corporate strategy unless there are important obstacles to contractual solutions.

Discusses how strategy-makers should take organizational inertia into account in strategy formulation. Looks at two classes of inertia: cognitive inertia and action inertia. A rewritten version of an earlier case.