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With institutional investors, regulatory authorities, the financial press, and the fear of lawsuits all pressuring boards of public corporations to be more active, many directors are seeking practical ways to conduct strategic oversight. Gordon Donaldson's strategic audit provides an orderly way for boards to review strategy without invading management's territory. Usually, there are three triggers that motivate boards to get involved in strategy: the retirement of a CEO, a precipitous decline in profitability, or an unsolicited takeover attempt. These triggers force a board into a reactive mode and are not conducive to effective oversight. Managers are expected to turn strategic vision into operational reality, but directors represent shareholders and must evaluate strategy based on how the company's returns compare with those of other investment opportunities. Donaldson suggests that a low-key, behind-the-scenes audit of strategy, designed to lend credibility to management's leadership and not undermine it, is an important board tool.

Rigid, old corporate styles, like the inflexible steel and stone headquarters that symbolized them, are fast becoming quaint vestiges of things past. Many of today's managers are beginning to understand that encouraging some behaviors at the edge of accepted organizational propriety can actually help their companies achieve success in this new competitive environment. And hot groups are helping organizations do just that. Based on years of observing and participating in hot groups, the authors describe the conditions under which such groups flourish, the behaviors they exhibit, the type of leadership they require, and the benefits they bring. For those executives who believe that more hot groups might help stir the hearts and minds of their people, there remains the question of how to make them happen. The authors offer suggestions that managers can follow to create an environment fertile enough to allow hot groups to grow.

Smart companies may incur huge losses when they enter unknown territory--new alliances, markets, products, technologies. Failures could be prevented or their cost contained if managers approached innovative ventures with the right planning and control tools. Discovery-driven planning is a practical tool that acknowledges the difference between planning for a new venture and for a more conventional business. Using Kao Corp.'s entry into floppy disks, the authors present a step-by-step approach to help companies think differently about planning. Managers should begin with the bottom line and work their way up the income statement, first determining a new venture's profit potential.

It's no secret that managing a brand in today's chaotic marketplace is a daunting task. Consumers are bombarded with messages from broadcast and narrow-cast television, radio, on-line computer networks, the Internet, faxes, telemarketing, and niche magazines. But by harnessing new and emerging technologies, companies can start real-time dialogues with their customers and provide interactive services with valuable side effects. Netherlands-based Philips NV, for example, used a research team to brainstorm with children and adults to develop a new product; in the end, its enthusiastic young product developers became potential loyal customers. Marketing managers must take responsibility for systems that link companies with customers, suppliers, and distributors. They must give consumers access and learn to think of feedback as part of product development. They need to provide customers with support and information. Finally, they need to become personally competent in information technology and to expand the role of marketing within the organization.

Many companies have used activity-based costing in onetime profitability studies. But when companies integrate ABC into critical management systems and use it to make day-to-day decisions--when they use it as activity-based management--it becomes a powerful tool for continuously rethinking and improving a business. Most managers do not realize that implementing activity-based management is a major organizational-change effort that involves a tremendous amount of work. The biggest obstacle is resistance from employees. The authors focus on two companies--Chrysler Corp. and Safety-Kleen Corp.--whose success in implementing activity-based management can serve as a model for other companies. The benefits they have reaped have been 10 to 20 times their investments in their programs.

In the mid-twentieth century, global organizations began to promise employees economic security, personal fulfillment, and respect in return for performing clearly delineated activities. Employees were willing to make sacrifices, and employers were willing to invest in training in the mutual expectation of future reward. But now, intense competition and rapid change are destroying predictability. Virtual organizations and many current managerial practices, such as reengineering, continuous improvement, matrix management, and "rightsizing," ignore this human need. As a result, employees keep their resumes up to date and their commitments to a minimum. The best way to approach organizational change is with the realization that dire predictions are better than no predictions at all or positive predictions that no one believes. Managers must make few promises and keep those they do make. The more managers make clear to employees which courses of action will improve their lives, the more employees can focus on creating value.

Manufacturing managers in a broad array of industries agree that achieving low cost and high quality is no longer enough to guarantee success. In the face of fierce, low-cost competition and an army of high-quality suppliers, companies are increasingly concentrating on flexibility as a way to achieve new forms of competitive advantage. Having acknowledged the importance of flexibility, however, managers in industry after industry are finding it frustratingly difficult to improve. In a quest to help manufacturing managers begin to understand why the improvement of flexibility has been so elusive, author David Upton embarked on a study of more than 60 factories in North America that manufacture fine paper. Upton found that, contrary to conventional wisdom, the flexibility of the plants depended much more on the people in the operation than on any technical factor.

Examines an Indian joint venture between a large U.S. telecommunications company and a small Indian software company, including a business and legal analysis of a joint-venture term sheet. Issues include extraterritorial application of U.S. antitrust and civil rights laws, protection for computer software afforded by Indian intellectual property and employment law, application of the U.S. Foreign Corrupt Practices Act, and circumstances under which a buyer of goods can stop payment on a letter of credit issued in favor of a seller that shipped nonconforming goods.

A high-technology manufacturing company was recently given profit-and-loss "stand-alone" status by its parent. No longer a captive supplier, it must seek new markets for its technology and products on the outside world. Describes a benchmarking study by a group of consultants to determine future operations improvement.

In the latter half of the 1980s, the collapse of the Soviet empire created an unprecedented opportunity for Western businesses. Among those most attracted were the oil firms, who rushed to investigate Russia's vast petroleum reserves. But, as they soon discovered, investing in Russia still entailed tremendous risks--commercial, legal, and political. The case examines how three companies (Phibro, Mobil, and Conoco) have evaluated the risks of Russia and formulated a strategy for investment.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case describes the general scenario.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case contains the confidential information for one of the four roles.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case contains the confidential information for one of the four roles.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case contains the confidential information for one of the four roles.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case contains the confidential information for one of the four roles.

This is a four-player negotiation simulation in which a newly-privatized British water utility must deal with contentious unions and national collective-bargaining agreements. Explores the question of coalitions and multi-lateral negotiations, and the value of interlocking guarantees. This case describes what actually happened in this case.

Provides an overview of the basic technologies that comprise the communications infrastructure of a firm. Network architecture, wide area networks, local area networks, communication media, network protocols, and basic principles of data transmission over networks are covered.

Provides an update to the (A) case.

In December 1984, a Union Carbide plant in Bhopal, India, sprung a leak, releasing thousands of gallons of highly toxic gas into the atmosphere. By the time the leak was sealed, over 2,000 people had died. In a series of three excerpts from published accounts, the case covers the events that led up to the tragedy and the aftermath--financial, legal, and emotional--for Union Carbide's management. The case is designed to allow students to explore the complex set of responsibilities that surround foreign direct investment. It enables them to discuss the extent to which Union Carbide's U.S.-based management was responsible for actions undertaken by Indians in India, and then to think of this responsibility in terms of its various components--financial, commercial, and moral.

Describes distribution operations in Polaroid Europe. In the late 1980s, Polaroid senior management in the United States proposed moving from a system of 12 decentralized warehouses to a centralized distribution system in which all inventory for European retailers would be held in Polaroid's Dutch distribution center. Most subsidiary general managers opposed the proposal, as did Polaroid's European marketing organization. Describes several distribution alternatives Polaroid considered in 1990 including: 1) direct distribution to retailers through Europe from the Dutch distribution center, 2) hiring a third-party logistics organization to take over all of Polaroid's European distribution activities, and 3) establishing regional satellite distribution centers. Provides an overview of changes in the European retailing and distribution industries at the beginning of the 1990s, with a specific focus on the diverse service expectations of retailers in different European countries and of different retail segments.