The vast majority of today's business decisions are made with incomplete information and in the face of an uncertain future. While risk can never be completely avoided, there are ways for managers to take uncertainty into account in their strategic planning. Indeed, effective decision making depends on managers clearly understanding what their firm can control and what factors are beyond its control. The systematic identification and assessment of risk, a frank discussion of risk tolerance, and the use of a variety of the techniques described here can go a long way to achieving effective strategic planning in the face of risk. The author outlines seven techniques that can be used to mitigate risk and uncertainty, including risk assessment, risk transfer and scenario analysis.

Public relations (PR) is an important component of a firm's integrated marketing communications strategy. Once populated by such passive acts as issuing press releases and responding to press inquiries, the field has "come of age" and developed into an active part of the firm's promotional activities. Today's PR employs such techniques as event sponsorship, stunt marketing, charitable activities, and placement (the paid appearance of a firm's products within entertainment content). This paper defines contemporary PR practices and develops rules for successful implementation of these modern approaches to promotion.

On Wednesday, February 2, 1994, Ted Rogers, president and CEO of Rogers Communications (RCI), announced that a strategic merger was being sought with Maclean Hunter Limited (MHL). Over the course of the last several weeks, a private company controlled by Mr. Rogers had purchased a block of stock representing approximately 8 percent of the shares held by the public. The focus of the case is to formulate a presentation to RCI's board of directors, which discusses the price, strategy and terms of a planned offer to acquire all remaining MHL shares.