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Students take the role of managers for a firm that is experiencing a product disaster (the coffee makers they produce are starting kitchen fires). Students have 90 minutes to prepare a statement for a press conference, and then present their statement to the press (other students who are selected to play the role of the journalists).

Independer.com is an Internet start-up in the Dutch financial services industry. The case describes a strategic decision confronting Managing Director Edmund Hilhorst in April of 2000. Hilhorst must decide which option to choose for the loyalty program that would govern the excess commissions which Independer would accrue.

Designed for use during the introductory module of a financial accounting course, this case exposes students to the analysis of business transactions and preparation of financial statements. It analyzes the efforts of Mary Jane Bowers, who has recently moved to Lynchburg, Virginia, and plans to open a retail garden store. It covers her compilation of financial projections for the initial startup of her business and its first year of operation. This case can be used as a stand-alone case or can be followed by "The Garden Place-One Year Later" (UVA-C-2068), which examines the financial effects of what actually occurred during the startup and its first year of operation.

New options on weather from Enron are described, in particular floors, swaps, and caps on heating degree days. An electric utility is considering whether to purchase a weather derivative to offset the risk of low volume of kilowatt hours. After understanding the nature and purpose of the contract, students will structure the option in preparation for valuing it.

New options on weather from Enron are described, in particular floors, swaps, and caps on heating degree days. An electric utility is considering whether to purchase a weather derivative to offset the risk of low volume of kilowatt hours. After understanding the nature and purpose of the contract, students will structure the option in preparation for valuing it.

It's no secret that health care delivery is convoluted, expensive, and often deeply dissatisfying to consumers. But what is less obvious is that a way out of this crisis exists. Just as the PC replaced the mainframe and the telephone replaced the telegraph operator, disruptive innovations are changing the landscape of health care. Nurse practitioners, general practitioners, and even patients can do things in less-expensive, decentralized settings that could once be performed only by expensive specialists in centralized, inconvenient locations. But established institutions are fighting these innovations tooth and nail. Not only is this at the root of consumer dissatisfaction with the present system, it sows the seeds of its own destruction. The history of disruptive innovations tells us that incumbent institutions will be replaced with ones whose business models are appropriate to the new technologies and markets. Instead of working to preserve the existing systems, regulators, physicians, and pharmaceutical companies need to ask how they can enable more disruptive innovations to emerge. If the natural process of disruption is allowed to proceed, the result will be higher quality, lower cost, more convenient health care for everyone.

Hope Barrows, a partner at the national accounting firm Fuller Fenton, drove to the office on Sunday and swiped her access card to enter the parking garage. She noticed that another car followed her in--without using an access card. Hope could see that the driver was a man, but she didn't recognize him. Concerned for her safety, she got out and asked to see his ID. Dillon Johnson, an associate at the same firm, was rushing to meet a colleague to review a client's file. He felt he was being unfairly questioned because he was black. Hope was white. Now it's Monday, and managing partner Jack Parsons is being deluged with calls. Some charge that the organization is racist; others are outraged that a woman was made to feel unsafe. One thing is clear: this incident is just the tip of the iceberg. Jack is trying to calm people down, but he doesn't know what his next step should be. In R00502 and R00514, commentators Robin Ely, Vera Myers, John Borgia, and Jeanette Millard offer advice on this fictional case study.

When looking for ways to cut costs, most managers reach for the head-count hatchet, and the markets usually roar with approval. But a company can almost always create far more sustainable value by rigorously evaluating the small-ticket capital items that often get rubber-stamped. Drawing on his experience as a consultant and providing numerous anecdotes, the author contends that those "little" requests often prove to be gold plated or unnecessary. A disciplined evaluation involves asking only eight questions and conducting postmortems--regular audits of units' capital spending. But the payoff is enormous. Because cutting the capital budget increases cash flow, the author argues that a permanent cut of just 15% in the planned level of capital spending could boost some companies' market capitalization by as much as 30%.

Though only five years old, employee-owned St. Luke's Communications has become one of the most talked about advertising agencies in the United Kingdom, increasing its profits eightfold. Chairman and cofounder Andy Law attributes the firm's success to its determination to continuously reinvent itself in a world populated by dot-coms and mega-ad agencies. St Luke's intends to revolutionize the way business is done and provide a credible alternative to the capitalism of both the old economy and the new. To that end, it pushes its people to take enormous risks. As Law says in this candid interview, "We're fundamentally convinced that there is a connection between co-ownership, creativity, collaboration, and competitive advantage." Safety and fear play key roles. No one has ever been fired for poor performance, so employees can feel secure about their jobs, but the firm requires people "to peel away all the levels of their personalities....That's truly frightening." Self-knowledge, Law says, "is the DNA of a creative company in the creative age."

Employees have an enormous amount of business information at their fingertips--more specifically, at their desktops. The floodgates are open; profitable possibilities abound. But having to handle all that information has pushed downsized staffs to the brink of an acute attention deficit disorder. To achieve corporate goals, business leaders need their employees' full attention--and that attention is in short supply. In this article, the authors analyze the components of attention management through three lenses--economic, psychobiological, and technological--and offer guidelines for keeping employees focused on crucial corporate tasks. Their lessons are drawn from the best practices employed by today's stickiest Web sites and by traditional attention industries such as advertising, film, and television. The authors say executives must manage attention knowing that it's a zero-sum game (there's only so much to go around). Managers should also consider capitalizing on the basic survival and competitive instincts we all have that help determine how much attention we pay to certain things. For instance, the threat of corporate demise--and the consequent loss of jobs and livelihoods--undoubtedly focuses workers' attention on the need to change. Likewise, internal competition among business units may give employees added incentive to pay attention to a profit or sales goal.

We all know that leaders need vision and energy, but after an exhaustive review of the most influential theories on leadership--as well as workshops with thousands of leaders and aspiring leaders--the authors learned that great leaders also share four unexpected qualities: 1) They selectively reveal their weaknesses; 2) They rely heavily on intuition to gauge the appropriate timing and course of their actions; 3) They manage employees with "tough empathy"; and 4) They capitalize on their differences. All four qualities are necessary for inspirational leadership, but they cannot be used mechanically; they must be mixed and matched to meet the demands of particular situations. Most important, however, is that the qualities encourage authenticity among leaders. To be a true leader, the authors advise, "Be yourself--more--with skill."

Business incubators such as Hotbank, CMGI, and Idealab! are a booming industry. Offering office space, funding, and basic services to start-ups, these organizations have become the hottest way to nurture and grow fledgling businesses. But are incubators a fleeting phenomenon born of an overheated stock market, or are they an important and lasting way of creating value and wealth in the new economy? The authors argue that one type of incubator, called a networked incubator, represents a fundamentally new and enduring organizational model uniquely suited to growing businesses in the Internet economy. Its key distinguishing feature is its ability to give start-ups preferential access to a network of potential partners. Such incubators institutionalize their networking. That doesn't mean incubatees get preferential treatment; it means only that they have built-in access to partnerships that might not have existed without the incubator. Even with this advantage, however, networked incubators can easily follow the road to ruin. To avoid failure, they must create a portfolio of companies and advisers that their incubatees can leverage.

Digital technology is reshaping the media and telecommunications industries. Now we can convert all kinds of information into digital bits and deliver them through the same pipe. This is an earthquake rocking traditional publishers like Encyclopaedia Britannica, media moguls like Time Warner, and telecom giants like Bell Atlantic. Barriers to entry are falling everywhere. Hillis predicts a battle in the next decade, as the incumbents try to hold on to their traditional advantages. Since Congress is easier to fool than the marketplace, Hillis maintains, much of that battle will be fought over regulations. Reed Hundt's engaging You Say You Want a Revolution provides useful background to this battle. As chairman of the FCC from 1993 to 1997, Hundt was at the forefront of efforts to break down the barriers between the different delivery media. Less satisfying to Hillis is George Gilder's large think piece, Telecosm, in which Gilder looks at the emerging technology and business of information delivery. Lyrical, but not always accurate, the book should be read more for its gestalt than for its details. Gilder and Hundt may disagree on how much to deregulate, but they agree that deregulation is desirable in the long run. Once the marketplace is open, Hillis predicts, the industries will split along functional lines: technology companies will deliver the bits and creative specialists will provide content and services.

If you were a military general on the march, you'd want your troops to have plenty of maps--detailed information about the mission they were on, the roads they would travel, the campaigns they would undertake, and the weapons at their disposal. The same holds true in business: a workforce needs clear and detailed information to execute a business strategy successfully. Authors Robert Kaplan and David Norton, cocreators of the balanced scorecard, have adapted that seminal tool to create strategy maps. Strategy maps let an organization describe and illustrate--in clear and general language--its objectives, initiatives, targets markets, performance measures, and the links between all the pieces of its strategy. Using Mobil North American Marketing and Refining Company as an example, Kaplan and Norton walk through the creation of a strategy map and its four distinct regions--financial, customer, internal process, and learning and growth--which correspond to the four perspectives of the balanced scorecard. The authors show how the Mobil division used the map to transform itself from a centrally controlled manufacturer of commodity products to a decentralized, customer-driven organization.

Identifying which business ideas have real commercial potential is fraught with uncertainty, and even the most admired companies have stumbled. In this article, W. Chan Kim and Renee Mauborgne introduce three tools that managers can use to help strip away some of that uncertainty. The first tool, "the buyer utility map," indicates how likely it is that customers will be attracted to a new business idea. The second, "the price corridor of the mass," identifies what price will unlock the greatest number of customers. And the third tool, "the business model guide," offers a framework for figuring out whether and how a company can profitably deliver the new idea at the targeted price. Applying the tools, though, is not the end of the story. Many innovations have to overcome adoption hurdles--strong resistance from stakeholders inside and outside the company. The authors conclude by discussing how managers can head off negative reactions from stakeholders.

Once you say what business you're in, you put your employees into a mental straitjacket and hand them a ready-made excuse for ignoring new opportunities. So rather than dictate his company's identity, Ricardo Semler--the majority owner of Semco in Sao Paulo, Brazil--lets his employees shape it through their individual efforts and interests. "I don't know what Semco is," he writes in this first-person account of his company's expansion from manufacturing to Internet services. "Nor do I want to know." The author shares some of the lessons he has learned: Forget about the top line. Never stop being a start-up. Don't be a nanny (treat your employees like adults). Let talent find its place. Make decisions quickly and openly when it comes to reviewing proposals for new businesses. And partner promiscuously: "Our partners," Semler says, "are as much a part of our company as our employees."

We've all worked with highly competent people who are held back by a seemingly fatal personality flaw. At best, people with these "bad habits" create their own glass ceilings, which limit their success and their contributions to the company. At worst, they destroy their own careers. The authors suggest concrete tactics they have used to help people recognize and correct the following six behavior patterns: The hero, who always pushes himself--and subordinates--too hard to do too much for too long. The meritocrat, who believes that the best ideas can and will be determined objectively and ignores the politics inherent in most situations. The bulldozer, who runs roughshod over others in a quest for power. The pessimist, who always worries about what could go wrong. The rebel, who automatically fights against authority and convention. And the home run hitter, who tries to do too much too soon--he swings for the fences before he's learned to hit singles. Helping people break through their self-created glass ceilings is the ultimate win-win scenario: both the individual and the organization are rewarded. Using the tactics introduced in this article, managers can help their brilliantly flawed performers become spectacular achievers.

Hope Barrows, a partner at the national accounting firm Fuller Fenton, drove to the office on Sunday and swiped her access card to enter the parking garage. She noticed that another car followed her in--without using an access card. Hope could see that the driver was a man, but she didn't recognize him. Concerned for her safety, she got out and asked to see his ID. Dillon Johnson, an associate at the same firm, was rushing to meet a colleague to review a client's file. He felt he was being unfairly questioned because he was black. Hope was white. Now it's Monday, and managing partner Jack Parsons is being deluged with calls. Some charge that the organization is racist; others are outraged that a woman was made to feel unsafe. One thing is clear: this incident is just the tip of the iceberg. Jack is trying to calm people down, but he doesn't know what his next step should be. In R00502 and R00514, commentators Robin Ely, Verna Myers, John Borgia, and Jeanette Millard offer advice on this fictional case study.

Hope Barrows, a partner at the national accounting firm Fuller Fenton, drove to the office on Sunday and swiped her access card to enter the parking garage. She noticed that another car followed her in--without using an access card. Hope could see that the driver was a man, but she didn't recognize him. Concerned for her safety, she got out and asked to see his ID. Dillon Johnson, an associate at the same firm, was rushing to meet a colleague to review a client's file. He felt he was being unfairly questioned because he was black. Hope was white. Now it's Monday, and managing partner Jack Parsons is being deluged with calls. Some charge that the organization is racist; others are outraged that a woman was made to feel unsafe. One thing is clear: this incident is just the tip of the iceberg. Jack is trying to calm people down, but he doesn't know what his next step should be. In R00502 and R00514, commentators Robin Ely, Verna Myers, John Borgia, and Jeanette Millard offer advice on this fictional case study.

When a jury acquitted four Los Angeles police officers in the famous, videotaped beating of a black motorist stopped for speeding, the decision sparked shock, outrage and, in short order riot in the city's African-American South Central section. The six days of unrest that ensued left a staggering toll: 54 dead, more than 2,000 injured, and property damage of almost $1 billion. This case describes the law enforcement response to the riot, raising, in effect, the question of whether, through a different type of response, the unrest could have been controlled more quickly and damage and casualties minimized. The case provides, in some instances for the first time, a detailed look at both the plans and responses of specific law enforcement and emergency response units including the LAPD and fire department, the LA County Sheriff's office, and the California National Guard. It describes key assumptions which proved faulty, problematic inter-agency coordination, as well as heroic individual efforts by some within those departments, which helped restore order.