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In 2016, MGM Resorts International announced it would break with the long-standing tradition of providing free parking on the Las Vegas Strip. Other Las Vegas resort companies, including Caesars Entertainment and Wynn Resorts, soon followed suit. Las Vegas Sands Corp. owned the Venetian Resort Hotel Casino, the Palazzo, and the Sands Expo and Convention Center, and had no plans to charge for parking. As more hotels and casinos chose to implement paid parking on the Las Vegas Strip, the president and chief operating officer of Las Vegas Sands Corp. properties faced a decision: should the Las Vegas Sands Corp. properties continue to offer free self-parking and use it as a differentiating marketing tactic, or should it follow the trend of its competitors and generate additional income by introducing parking fee?

A budget is a tool that allows an organization to put its strategy into financial terms. It can be described as the financial plan for the organization. The organization as a whole will prepare a profit plan, and it will also be concerned with investment in assets needed to achieve that plan and with cash flow being sufficient to support that plan. So it will typically have a profit plan, a capital budget, and a cash budget, which together will eventually result in a set of forecasted financial statements-an income statement, a balance sheet, and a statement of cash flow. This note focuses on the organization's profit plan.

On the evening of 3 August 1914, British Foreign Secretary Lord Edward Grey contemplated whether to advice King and Parliament to declare war on Germany in the wake of the country's invasion of Belgium, or to stay out of what quickly was becoming a world war triggered by a royal assassination in Sarajevo. Over the past century, the said world had become woven together in ways never before seen, and a truly global economy had emerged that many believed forever would banished the possibility of war altogether. But could trade really assure perpetual peace, and what ultimately mattered most; interest, or principles? The case considers the lessons to be had from the rise and fall of the last great period of globalization.

Molino Cañuelas was a vertically integrated food company with a management system that allowed it to innovate and grow systematically. With sales of $2 billion in 2016, the firm not only produced flour, vegetable oil and packaged food products; it also owned a port terminal, a packaging plant and an Agribusiness Services Division to support over 8,000 agricultural producers. CEO and Chairman Aldo Navilli, who had run the company since 1986 and had developed its management system, wanted to ensure that as the company grew and expanded, it would maintain its culture and working style. The company was exporting to 32 countries and had manufacturing plants in Brazil and Uruguay. As it continued its international expansion, should it follow the same vertical integration strategy in other countries or should it develop its retail business through partnerships or alliances?

"Mondelēz International" is a packaged foods company competing primarily in "snacks" around the globe. The case describes how and why the Kraft Inc. CEO, and later Mondelez CEO, Irene Rosenfeld, created Mondelez, and how she positioned it as a growth company at a time when many packaged food companies were suffering declines. The case also discusses trends in the snack food business and invites readers to suggest how the company's new CEO should build on the foundation that Irene created.

This note serves as an overview of the Entrepreneurial Management Unit's required curriculum course, "The Entrepreneurial Manager (TEM)." General management has been a core educational organizing framework at the Harvard Business School since its inception. Today TEM provides a powerful context in which to learn about general management. TEM seeks to build the knowledge, skills, tools, frameworks, and attitudes required to succeed as a manager. These tools and frameworks are built upon the foundation of other RC courses at HBS, including TOM, LEAD, LCA, FRC, MKTG, STRAT, and FIN. With an aim to "educate leaders who make a difference in the world," TEM integrates the lessons of your RC year into an overall framework to help general managers at all types of organizations (e.g., small companies, large companies, non-profits, and public servants) become more effective at enhancing the value of those organizations.

With 33,000 employees and revenues of $13 billion in 2016, Kellogg Company was the world's largest producer of branded packaged cereal and a leader in branded convenience foods. Founded in 1906 and based in Michigan, the company had a proud history of product and marketing innovation starting with its first product, Kellogg's Toasted Corn Flakes, which created the cold cereal category. In recent years, however, Kellogg's revenue had declined due to a number of factors, including changing consumer tastes, increased competition, and evolving advertising trends and sales channels. Seeing innovation as a key to future success, in 2016 the company established eighteen94 capital, its corporate venture capital arm, which had announced investments in three startups as of late 2017. eighteen94 was conceived as a platform for giving Kellogg access to the kinds of skills, products, and ingredients that could help drive future growth. It was also a vehicle for changing mindsets and culture by reviving the entrepreneurial spirit that some felt had eroded within Kellogg. This case allows students to consider what sort of impact on internal culture and behavior Kellogg should expect from eighteen94 in its current form. Does eighteen94 have the potential to drive the kind of changes and benefits that Kellogg needs?

This note provides an overview of the snacking industry in 2017.

In 2017, Joelle Faulkner, CEO of Area One Farms, a Canadian private-equity fund focused on investing in the best Canadian farms and helping them expand, considered the merits and disadvantages of expanding her business to the U.S. While the markets shared some similarities, Faulkner did not know the U.S. market as well as the Canadian one. Could her joint venture partnership model work as well in the U.S. as it had in her home country?

The case describes a hypothetical hedge fund manager who is examining whether to invest in bitcoin or not. The case discusses potential risks and rewards for investing in bitcoin, the role of bitcoin and digital currencies more broadly, as well as financial innovation in the space, such as ICOs. The case can be taught as part of a second-year MBA elective course in investments, financial institutions/capital markets, or fintech.

Performance measurement is at the heart of management. How a manager's performance is measured strongly influences that manager's decisions and how that manager spends his or her time. If you tell the manager you are going to evaluate him or her based on some performance measure and you choose the right performance measure, you'll likely get what you want. But if you choose the wrong one, you can send things in the wrong direction. What gets measured gets attention.

Student spreadsheet for case W17726.

BRAC was the largest non-governmental organization in the world, reaching out to 138 million people. It made a significant contribution to reducing poverty in Bangladesh by employing more than 117,000 community workers (Shasthya Shebikas) to improve the health and nutrition of the rural poor. The manager of BRAC's Health, Nutrition and Population program was faced with two significant challenges. First, she had to find a way to encourage more people to use BRAC's services; more than 60 per cent of the population sought the services of unqualified health care service providers, despite the significant contribution made by Shasthya Shebikas. Second, she had to bring down the 10 to 20 per cent turnover rate of the Shasthya Shebikas.

It is July 2017, and Dr. Nteranya Sanginga, the director general of the Nigeria-based International Institute of Tropical Agriculture (IITA), is making progress toward two of his primary strategic objectives for the nonprofit research Institute: 1) to scale the impact and reach of some of the IITA's most commercially viable products and technologies by working with the private sector, and 2) to address Nigeria's massive youth unemployment problem by engaging young people in agribusiness. To achieve his first goal, Sanginga in 2013 established a business incubation platform (BIP), which was tasked with establishing pilot production facilities to illustrate that a select number of IITA products could be profitably manufactured and sold to an existing market. Sanginga hoped that the BIP would attract interest from private sector companies compelled by the business case for taking a particular technology to scale. To achieve his second goal, Sanginga had founded a youth "agripreneurs" program, which would train young university graduates on improved agricultural practices, food processing, and strategies for starting an agribusiness. Since its establishment in 2012, the program had enrolled four cohorts of young people in Ibadan (a total of 70 people), and expanded to four other states in Nigeria and five additional African countries. While both programs were making progress, challenges remained. Sanginga had originally hoped that the agripreneurs program would launch dozens of small businesses, but as of mid-2017, it had produced just four independent start-ups. Most of the program's agripreneurs in Ibadan (53 of the 70) remained affiliated with the IITA. Poor access to commercial loans, which carried interest rates up to 30%, was the primary issue preventing them from starting businesses. The BIP, too, faced challenges. Chief among them was a severe cash flow constraint that prevented Schreurs from properly forecasting and investing resources

In 2009, Samuel Lim, Daniel Lim, and Benjamin Han, saw growth opportunities in the online accessible luxury fashion market and boldly set up Reebonz to pursue them. Their efforts over the years had expanded Reebonz to become a notable online marketplace for both new and pre-owned luxury products. Going forward, the founding trio knew that in order to stay ahead, they must continue to differentiate Reebonz from the traditional luxury players and new online competitors. Would the continuous push for accessible luxury dilute the luxury consumption experience? Where can Reebonz find its next growth trajectory?

Supplement to case UV7389. This case, a follow-up to "Anna Pessah: Lean Thinking at Summit Funding (A)" (UVA-OM-1569), contains answers from Anna Pessah about her operations improvement challenges at Summit Funding and what actually happened.

In January 2017, the owner of Re-Matt Inc. (Re-Matt), a mattress recycling operation, was considering the way forward for the business he had developed in the city of Calgary, Alberta. Re-Matt was a unique enterprise in Alberta where municipalities, both urban and rural, had been categorizing mattresses as waste, and sending them to landfills for disposal, for decades. Re-Matt's business was diverting used mattresses from landfills and recycling them by routing their individual components back into the economic streams and recovering value. The company had reached an annual revenue of CA$500,000 in just two years. Its owner was now weighing his options with respect to scaling up Re-Matt's operations, as well as trying to identify ways of differentiating Re-Matt from its potential competition.

COLIN, a producer of garment care products headquartered in Santa Barbara, California, was working with a large U.S. retailer to produce the Bristol, an innovative garment steamer that the retailer wanted to launch for the 2017 U.S. Thanksgiving season. To meet that deadline, COLIN would have one month less than was typically needed to launch a new product. This launch date left COLIN with limited time for research and development, manufacturing, and marketing. Several managers at COLIN met to discuss the project, including how to choose the suppliers, whether to continue with an original equipment manufacturer model or move to an original design manufacturer model, how to ensure the product could be launched on time, and whether to use any of COLIN'S own core technologies. To make their decision, the managers needed to analyze several complicated issues.

In 2010, RBC Financial Group (RBC), a banking and insurance company headquartered in Toronto, Canada, had implemented a new loan program. The program targeted clients who were seeking loans for the installation of electricity-generating solar panels on their property under a new government-sponsored green power program, the Micro Feed-In Tariff Program (microFIT). For RBC, the loan program was an excellent fit with the company's strategy to support environmentally-focused initiatives. However, by October 2010, microFIT was encountering problems. Once the banking business unit at RBC had sold the loans to a client and the client had installed the solar panels, the insurance business unit at RBC was then cancelling the client's insurance policies due to the increased risk posed by the installations. Customers were confused and upset. How should RBC handle this difficult situation? How could the company prevent similar problems with future program implementations?

In the first two decades of the 21st century, Copenhagen has vaulted to international attention for its enthusiastic bicycle culture and infrastructure. While it's tempting to dismiss this accomplishment as inherently easy because it took place in a city and country known for socially liberal politics, this case-by summarizing the history of cycling politics and policy in Copenhagen since the 1970s-shows that the evolution of Copenhagen as a bike city was neither quick nor easy, and that the city wrestled (and continues to wrestle) with many of the same conflicts that have hampered efforts to promote biking in other cities around the world. In so doing, the case invites a more nuanced analysis and discussion of the actual keys to Copenhagen's success. Case number 2113.0