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For large corporations that are refocusing their portfolios, the problem of how best to dispose of basically sound but underperforming businesses remains. Putting a business up for sale can be its kiss of death, with employee morale plummeting and prospective buyers unaware of the business's true potential value. The solution may be a restructuring joint venture, an arrangement that allows the buyer to learn about the business's untapped possibilities before buying it outright, and that often results in higher returns to the seller than a straight sale would. The authors contrast the successful joint venture involving Whirlpool and Philips with the disastrous results of Maytag's purchase of the Chicago Pacific Corp.

Bain & Co., a leading strategy consulting firm, faces major strategic and organizational issues regarding global expansion. The Bain partners must choose a course among many exciting and attractive opportunities for growth. Also explores organizational and managerial implications for various growth scenarios.

Concerns the decision whether or not to launch a satellite television service in Asia in the 1990-1991 period. STAR TV was a joint venture between Hutchison Whampoa and Li-Ka Shing and was established to launch such a service. Li-Ka Shing's son, Richard, was CEO. Considers the background to the satellite TV industry in Europe and the United States, the likely success of such a venture in Asia, and strategic and tactical issues.