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In a bid to combine the two major perspectives (strategic communications and strategic brand management) of integrated marketing communications (IMC), this article proposes a holistic consumer experience management framework. According to the framework, the key mission of IMC is to manage effectively the mediated impression of and direct encounter with the brand so that synergism ensues among all the interrelated elements of IMC, including research and development, manufacturing, price formulation, channel arrangement, consumer service management, marketing message construction, and communication program execution. As such, IMC is capable of enhancing the holistic consumer experience and creating a holistic brand value structure, which can unite the consumer's sensory, emotional, social, and intellectual experiences in a new and positive way.

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Investors and policymakers throughout the world were confronted with the risk of painful economic consequences arising from the large U.S. current account deficit. In 2007, the U.S. current account deficit was $731 billion, equivalent to 5.3% of GDP. The implications of the deficit were debated with intensity. At one extreme, it was argued that large deficits would eventually resolve themselves smoothly, even if they persisted for many more years. Former Federal Reserve Chairman Alan Greenspan was among those expecting a "benign resolution to the U.S. current account imbalance." Other analysts, such as economists at the World Bank, believed the large deficits raised the risk of a sharp and disorderly fall of the dollar and that necessary macroeconomic adjustment could be painful, for the United States as well as for the rest of the world. The Financial Times asked: "How long will foreigners be prepared to make such generous 'gifts' to the US?" In this environment, Berkshire Hathaway, run by legendary investor Warren Buffett, postulated that current account imbalances would lead to "some chaotic markets in which currency adjustments play a part" and announced to shareholders a plan to increase investment in overseas companies to protect against this risk. It remained to be seen what the short- and long-term implications of the current account deficit would ultimately yield.

Supplements the (A) case.

In 1991, Chile adopted a framework of capital controls focused on reducing the massive flows of foreign investment coming into the country as international interest rates remained low. Capital inflows threatened the Central Bank's ability to manage the exchange rate within a crawling band, which aimed eventually to lower Chile's rate of inflation to international levels. Until the Asian financial crisis of 1997 and the Russian debt crisis of August 1998, the Chilean economy performed spectacularly under, or perhaps in spite of, these controls. In the aftermath of the Asian and Russian crises, Chile's economy began to suffer through both trade and financial channels. Chile's current account deteriorated not only because Chile relied on Asia as a market for one-third of its exports, but also as the price of cooper, Chile's largest export product, plummeted in the face of dwindling Asian demand. Financial flows to Chile, like to emerging markets in general, fell dramatically as investors panicked. By the end of 1999, Chile had experienced Latin America's most severe "sudden stop" of external capital flows. In this new economic environment, Chile was forced to reevaluate its system of capital controls. Many observers in the private sector blamed the controls for unnecessarily adding to the strain and demanded the controls be dismantled completely. Meanwhile, Chile's Central Bank continued to defend the controls and argued that they had helped insulate the country for worse contagion.

Customer Strategy Solutions, a California-based developer of order fulfillment systems, is facing a shakedown. Six months after the firm's CEO, Pavlo Zhuk, set up a software development center in Kiev, local bureaucrats say the company hasn't filed all the tax schedules it should have. Moreover, Ukrainian tax officials claim that the company owes the government tax arrears. Zhuk is shocked; he and his colleagues have done everything by the book. This isn't the first time Zhuk has encountered trouble in Ukraine. In the process of getting the development center up and running, a state-owned telecommunications utility had made it difficult for Zhuk to get the phone lines his company needed. Senior telecom manager Vasyl Feodorovych Mylofienko had told Zhuk it would take three years to install the lines in his office--but for a certain price, Mylofienko had added, the lines could be functioning the following week. Even as the picture of rampant bribery and corruption in Ukraine becomes clear, Zhuk still doesn't want to pull out. Of Ukrainian descent, he has dreams of helping to modernize the country. By paying his programmers more than they could make at any local company, he hopes to raise their standard of living. And yet, he isn't sure he can keep compromising his principles for the sake of the greater good. Should Customer Strategy Solutions pay off the Ukrainian tax officials? Commenting on this fictional case study in R0503A and R0503Z are Alan L. Boeckmann, the chairman and CEO of Fluor Corp.; Rafael Di Tella, a professor at Harvard Business School; Thomas W. Dunfee, the Kolodny Professor of Social Responsibility and a professor of legal studies at Wharton; and Bozidar Djelic, the former finance and economy minister of Serbia.

Customer Strategy Solutions, a California-based developer of order fulfillment systems, is facing a shakedown. Six months after the firm's CEO, Pavlo Zhuk, set up a software development center in Kiev, local bureaucrats say the company hasn't filed all the tax schedules it should have. Moreover, Ukrainian tax officials claim that the company owes the government tax arrears. Zhuk is shocked; he and his colleagues have done everything by the book. This isn't the first time Zhuk has encountered trouble in Ukraine. In the process of getting the development center up and running, a state-owned telecommunications utility had made it difficult for Zhuk to get the phone lines his company needed. Senior telecom manager Vasyl Feodorovych Mylofienko had told Zhuk it would take three years to install the lines in his office--but for a certain price, Mylofienko had added, the lines could be functioning the following week. Even as the picture of rampant bribery and corruption in Ukraine becomes clear, Zhuk still doesn't want to pull out. Of Ukrainian descent, he has dreams of helping to modernize the country. By paying his programmers more than they could make at any local company, he hopes to raise their standard of living. And yet, he isn't sure he can keep compromising his principles for the sake of the greater good. Should Customer Strategy Solutions pay off the Ukrainian tax officials? Commenting on this fictional case study in R0503A and R0503Z are Alan L. Boeckmann, the chairman and CEO of Fluor Corp.; Rafael Di Tella, a professor at Harvard Business School; Thomas W. Dunfee, the Kolodny Professor of Social Responsibility and a professor of legal studies at Wharton; and Bozidar Djelic, the former finance and economy minister of Serbia.

Provides a broad overview of economic and political developments in Spain from the 1940s to the present day. Examines the emergence of Spain from the Franco dictatorship and its convergence into a vibrant democracy, as reflected in the surprising election results of 2004. Also describes the economic transformation of Spain and permits discussion of the interrelationships between the economic and political dynamics. Highlights the role the European Union (EU) played as an inspirational goal and institutional constraint on how Spain developed both economically and politically. Discuses in greater detail the Spanish labor market and the evolution of unemployment levels in Spain. Also looks at the role of terrorism in a society such as Spain's, with reference to both the Basque separatist terrorism of ETA and the international terrorism associated with the Atocha station bombings in 2004.

There are many options for a country in the management of monetary policy. At the most basic level is the decision of whether to adopt a fixed or a floating exchange rate. Introduces the economics behind exchange rates and the debate between fixed vs. floating regimes.

In October 2002, Brazilians elected a left-wing president, Luis Inacio Lula da Silva, for the first time in that country's history. As markets faltered in response, Lula sought to reaffirm his commitment to fiscal discipline, a floating exchange rate, and inflation targeting. By August 2003, however, his attempt to change market sentiment was threatened as the country faced a looming recession. Skeptics began to worry that the new PT (Worker's Party) government would be forced to resort to printing money to meet its campaign promises. Furthermore, after Argentina's massive default on its public debt at the end of 2001, observers were questioning the sustainability of Brazil's debt situation. Lula was under intense pressure to deliver results immediately and implement measures that would help spur the economy.

At the end of 2001, Argentina's economy and society both appeared on the verge of collapse. Furious about controls imposed on the convertibility of their bank deposits into cash (the "corralito") and huge proposed government spending cuts amidst high unemployment and deteriorating social services, Argentines from all economic backgrounds took to the streets in protest. In violent rioting, stores were looted, buildings burned, and more than 22 people killed. The entire government was forced to resign. A succession of increasingly ineffectual presidents shuffled through the presidential palace, each seemingly more powerless to confront the crisis than the last. Meanwhile, the country's economic situation continued to deteriorate, and Argentina soon defaulted on its $141 billion in foreign debt outstanding in the largest sovereign default in history. On January 2, 2002, Eduardo Duhalde was selected interim president by Argentina's Congress--and would serve as Argentina's fifth president in two weeks. At the helm of Argentina's flailing economy, he had a number of important decisions to make. Among these were what to do with Argentina's decade-long peg to the dollar under the Convertibility Plan.

Supplements the (A) case.

Official data that suggest economic inequality has been mounting in the United States on various dimensions since 1979. Many causes of such inequality have been postulated: technological change, globalization, demographic factors, and changes in public policy (notably changes in taxation during the Reagan presidency). Whether rising inequality is even a cause for concern is an open question. Some dimensions of inequality may be of concern, whereas other dimensions may be viewed as less problematic. To the extent that rising inequality is seen as a social problem that needs to be addressed, various policy proposals have been advocated.

Describes the economic stabilization program implemented by the Bolivian government in 1985 to 1986 and its impact on the development process in Bolivia.

Describes the development of Argentina's financial system after the "Tequila Crisis" that came about as a result of the speculative attack on the Mexican peso's peg to the U.S. dollar in December 1994. Although Argentina's banking system was strengthened overall due to changes implemented to address the crisis, most of the country's domestic private banks were either taken over by foreign banks or failed. Focuses on how in the year 2000, in an effort to remain Argentine owned, the last remaining large domestic private bank adopts a share offer considered by some--particularly a vocal member of one of the bank's controlling families--to be unfair to minority shareholders.

Discusses the largest electric distribution company in Chile and one of the five largest private Chilean companies. Introduces the exercise of operating control in order to improve the profitability of the investments, privatization, and international expansions.

Describes the political and economic development in Argentina from 1900 to 1989, with a focus on the role of Peron and populism. A rewritten version of an earlier case.

Describes the political and economic development in Argentina from 1989 to 1995, with a focus on the role of the currency board. Culminates in Argentine policy makers (Menem in particular) contemplating how to respond to the tequila crisis in the middle of 1995. Focuses on the tradeoff between a fixed exchange rate to maintain price stability and the required high interest rates that impact financial stability. A rewritten version of an earlier case.

Focuses on efforts to combat corruption. Approaches include international laws, international agreements, efforts by international development organizations, and private efforts by firms and nongovernmental organizations.

Explores various aspects of corruption in international business, in two sections. The first section provides a broad discussion of the ethical, business, and legal aspects of corruption. The second section provides a series of "caselets" that are designed to promote discussion of how students would act in particular situations, as well as the potential costs and benefits of these actions.