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In the much-heralded war for talent, it's hardly surprising that companies have invested a lot of time, money, and energy in hiring and retaining star performers. For most CEOs, recruiting stars is simply more fun; for one thing, the young A players they interview often remind them of themselves at the same age. For another, A players' brilliance and drive is infectious; you simply want to be in their company. Besides, in these troubled times, when businesses are so vulnerable, people who seem to have what it takes to turn around a company's performance are almost irresistible. But our understandable fascination with star performers can lure us into the dangerous trap of underestimating the vital importance of the supporting actors. It's true that A players can make enormous contributions to performance. Yet, as the authors have found, companies' long-term performance--even survival--depends far more on the unsung commitment and contributions of their B players. These capable, steady performers are the best supporting actors of the corporate world. They counterbalance the ambitions of the company's high-performing visionaries. Unfortunately, organizations rarely learn to value their B players in ways that are gratifying for either the company or these employees. This article will help you to rethink the role of your organization's B players.

In the 1990s, funding pension obligations by investing in stocks looked smart. By 1999, the bull market had poured a collective $260 billion surplus into the pension coffers of the S&P 500, permitting the companies to record the year-to-year increases as additional income. But just two years later, the bear market had obliterated those gains, replacing them with a cavernous $240 billion deficit--which had to be offset by the unlucky firms' ongoing cash flows, wreaking havoc on their earnings, debt levels, and stock prices. Corporate executives may be blamed for this debacle. But they were only following the rules. Current accounting guidelines keep companies from recording pension liabilities and assets on their balance sheets, instead relegating them to the footnotes. That makes it hard to see the risk to which market drops expose companies. Board members and top executives need to look beyond distorted accounting numbers to the economic realities of pension plans. Once they do, they may be surprised to find that they would gain far greater value and flexibility by passively investing their pension funds entirely in bonds. A bond portfolio can be designed to meet precisely, and with virtual certainty, a company's pension obligation, thus eliminating the chance of a funding gap. The predictability of bond investments also stabilizes earnings and cash flow. The expanded corporate debt capacity that results can then be used to fuel growth or reduce the firm's overall cost of capital.

If you run a midsize manufacturing business, you may be familiar with that anxious sense of being left behind. At every turn, someone is pushing you to jump onto the latest strategic bandwagon before it's too late. But no matter how great the hot, new strategy might be, it can't replace an approach that helps you get the most out of your existing businesses. Such an approach offers a tremendous potential payback--annual revenue and earnings growth as high as 15% to 20%. And it poses few of the risks associated with pursuing chancy acquisitions, untested ventures, or radical strategies. For this article, the authors largely draw on their experience at Fiberite, which made advanced composite materials for military and commercial airplanes, among other things. Fiberite was a healthy business, but its incumbent management--with its ambitious plans for introducing new products and tapping new markets--ignored the unrealized value remaining in what they already had. Like so many companies, Fiberite didn't really understand what had made it successful in the first place. The authors offer a method for setting strategic priorities--a strategic pathway--that focuses on a company's existing businesses. The pathway has four stages. First, protect your existing business. Next, penetrate further into existing market segments with existing products or upgrades. Then, extend the business by developing new products for existing segments or by entering new segments with existing products. Finally, diversify into new markets with new products. This sequence of priorities is not new, but formalizing it helps people resist the siren call of new products and markets, which can do as much damage as good.

Few senior executives pay much attention to computer security. They either hand off responsibility to their technical people or bring in consultants. But given the stakes involved, an arm's-length approach is extremely unwise. According to industry estimates, security breaches affect 90% of all businesses every year and cost some $17 billion. Fortunately, the authors say, senior executives don't need to learn about the more arcane aspects of their company's IT systems to take a hands-on approach. Instead, they should focus on the familiar task of managing risk. Their role should be to assess the business value of their information assets, determine the likelihood that those assets will be compromised, and then tailor a set of risk abatement processes to their company's particular vulnerabilities. This approach, which views computer security as an operational rather than a technical challenge, is akin to a classic quality assurance program in that it attempts to avoid problems rather than fix them and involves all employees, not just IT staffers. The goal is not to make computer systems completely secure--that's impossible--but to reduce the business risk to an acceptable level. This article looks at the types of threats a company is apt to face. It also examines the processes a general manager should spearhead to lessen the likelihood of a successful attack. The authors recommend eight processes in all.

Espoir Cosmetics has received a tantalizing offer: sponsorship of the sequel to the Hollywood hit Diana's She Devils. For Natasha Singh, the U.S.-based company's global marketing officer, the movie is an ideal vehicle for global brand building. As the film is released in each country, Espoir can launch tie-in lipsticks and nail polishes. But some of Espoir's regional executives don't see it that way. One of them--Vasylko Mazur, the head of Eastern European operations and Tasha's old friend--is particularly upset. "Tasha," he says, "you don't realize how different Eastern Europe is from the rest of the world. Movie-based promotions won't do anything for my sales." Tasha understands his point of view. When she was Espoir's marketing head in India, she had to fight for her unconventional local initiatives. But she has come to believe that tastes are changing rapidly all over the world. From Eastern Europe to the smallest towns in India, customers want the products they see on TV, in the movies, and in international magazines. Should Espoir take its new branding initiative global? In R0306A and R0306Z, Peter M. Thompson, president and CEO of PepsiCo Beverages International; Jennifer L. Aaker, associate professor of marketing at Stanford Business School; Harish Manwani and Simon Clift, executives of Unilever; and Masaaki Kotabe, professor of international business at Temple University offer their perspectives on this fictional case study.

Espoir Cosmetics has received a tantalizing offer: sponsorship of the sequel to the Hollywood hit Diana's She Devils. For Natasha Singh, the U.S.-based company's global marketing officer, the movie is an ideal vehicle for global brand building. As the film is released in each country, Espoir can launch tie-in lipsticks and nail polishes. But some of Espoir's regional executives don't see it that way. One of them--Vasylko Mazur, the head of Eastern European operations and Tasha's old friend--is particularly upset. "Tasha," he says, "you don't realize how different Eastern Europe is from the rest of the world. Movie-based promotions won't do anything for my sales." Tasha understands his point of view. When she was Espoir's marketing head in India, she had to fight for her unconventional local initiatives. But she has come to believe that tastes are changing rapidly all over the world. From Eastern Europe to the smallest towns in India, customers want the products they see on TV, in the movies, and in international magazines. Should Espoir take its new branding initiative global? In R0306A and R0306Z, offering their perspectives on this fictional case study are Peter M. Thompson, president and CEO of PepsiCo Beverages International; Jennifer L. Aaker, associate professor of marketing at Stanford Business School; Harish Manwani and Simon Clift, executives of Unilever; and Masaaki Kotabe, professor of international business at Temple University.

Elise Smart must decide what performance assessment to give one of her employees who has, uncharacteristically, failed to meet one of her key objectives for the year. The situation is difficult for several reasons; the causes of the unacceptable performance are not clear; the employee has previously received excellent appraisals, including a recent one by the vice-president; and the employee was absent for a good part of the year on maternity leave. The various factors that influence sustained performance (ability, motivation, resources, role clarity, reinforcement) are examined, as well as steps leaders can take in improving performance of those for whom they are responsible.

Competition is present, explicitly or implicitly, in many business negotiations. Rarely in buyer-seller negotiations are the bargainers stuck with each other, usually they have an alternative trading partner to whom they can turn. The terms of agreement that are negotiated are shaped by the fact that the alternatives exist. The ability to exploit competition among potential trading partners is a major source of bargaining power. Competition within a negotiation works much like competition in a formal auction. The case describes the bidding for television rights.

This case present the dilemma of an employee who, having been terminated in a manner he deems is unfair, has to decide whether to cash or return a $2,500 check wrongfully sent him by his former employer.

Although not set in a business environment, this case illustrates a common dilemma existing in almost any setting: Do you uphold an institution's honor code, although it means implicating a friend and comrade of wrongdoing?

This case illustrates the dilemma of an employee who, having received an offer to go elsewhere (although to a noncompeting business), must decide where his loyalties lie.

This case presents the dilemma of an employee who, when presented with options by his business, must weigh all the different factors (including his career goals and his fellow employees) in deciding what course of action to take.

The Wild Salmon Center was originally created to provide anglers access to some of the best fishing in the world in return for funding research and conservation. Starting in 1998, the Wild Salmon Center expanded from angling tourism to the implementation of conservation programs aimed at protecting salmon rivers in the Russian Far East and U.S. Pacific Northwest. This case discusses the Wild Salmon Center's efforts to protect the pristine watersheds of the Kamchatka peninsula by developing ecotourism angling expeditions to raise funds for the Center's conservation efforts there. The case touches on involvement of local Kamchatka residents, the development of the angling expeditions, and the challenges that the Wild Salmon Center faced as it grew and its strategic direction evolved to larger scale conservation efforts.

Managing Transitions, Second Edition (2003), is a book of nine chapters written by William Bridges and published by Perseus Books Group. The business world is continuously transforming as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 1 describes the difference between change, which is situational, and transition, which involves psychological response to change. The author argues that transition is a process comprising three stages: the ending, the neutral zone, and the new beginning. He describes the lifecycle of properly managed transitions, and shows how mismanaged transitions can go wrong.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 2 begins by examining the case of a software company that underwent changes. The changes did not seem momentous; however, the psychological fallout was considerable, and workplace performance suffered. The author applies his transition model to the situation, proposing three phases of practical response to pressing problems. He also cautions managers about steps they should not take.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 3 discusses how to successfully begin a transition by ending "what used to be." The chapter's main topics include: balancing subjective losses, dealing with overreactions, and communicating with those affected by change.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 4 describes the middle period of a transition process, when employees can become immobilized due to the demands of conflicting systems. The author discusses how to create temporary systems, strengthen teams, and manage creatively.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 5 describes the "new beginnings" phase of an organizational transition. The author states, "The beginning will take place only after [people] have come through the wilderness and are ready to make the emotional commitment to do things the new way and see themselves as new people. Starts involve new situations. Beginnings involve new understandings, new values, new attitudes, and-most of all-new identities." He examines how ambivalence, timing, and purpose can affect the atmosphere of change.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. In Chapter 6, the author asserts that organizations, like individuals, have life cycles and that "it is helpful to have a map of the organization's life cycle that is comparable to the human development theories that clarify the path an individual follows through human childhood, adolescence, and adulthood." He goes on to explain "the seven stages of organizational life" -- Dreaming the Dream, Launching the Venture, Getting Organized, Making It, Becoming an Institution, Closing In, and Dying - and he explains the role of transition in this sequence.

Managing Transitions, Second Edition (2003), is a book of 9 chapters written by William Bridges and published by Basic Books/Perseus Books Group. The business world is continuously transforming, as layoffs, bankruptcies, mergers, and restructurings occur every day. These situational shifts present psychological challenges to both individuals and organizations, and many of us respond in unhealthy ways. The author describes healthy responses to these challenges, providing practical, step-by-step strategies for minimizing the disruptions caused by workplace change. Chapter 7 discusses the notion that change is constantly occurring. After introducing the three phases of change-an ending, a "neutral zone", and a beginning-the author uses these concepts to address simultaneous changes, engendering trust, and managing timeframes for change.