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Having recently launched one of Silicon Valley's first start-ups, cofounders Chan Suh and Kyle Shannon ponder whether their interactive consulting firm is prepared to bid for work from a very large client.

AGENCY.COM continues on its path of rapid growth, emerging as a leading interactive consulting firm. Its growth leads to new challenges related to the integration of diverse operations and the financing of future growth.

Ten years into his career after graduating from HBS, Tim Hertach discovers billing irregularities at his consulting firm. He must decide whether (and how) to challenge senior management or to stay quiet and protect his career.

Supplements the (A) case.

Two recent Harvard Business School graduates start a venture capital/consulting firm focused on opportunities related to the Internet.

Alexander Bandelli has the opportunity to redefine the way real estate business is done in the Northeast region. He has just joined Ronsini and Fitch and has been asked by senior management to move to a client focus rather than the older, traditional transaction focus. Alexander has many challenges before him. How should he prioritize his work? Does he focus outside the organization or internally? Is the organization prepared for this change project? What should he do first?

Supplements the (A) case.

The 1997 merger of retail giant Dean Witter and investment bank Morgan Stanley was a year old when Bob Sculthorpe was appointed director of Private Client Services (PCS) at Morgan Stanley Dean Witter (MSDW). The firm was still operating under two separate broker-dealer registrations, and there had been no satisfactory resolution to the dilemma facing the leaders of the retail securities division of MSDW. Where did Morgan Stanley PCS and its high net worth focus fit into the retail/investment banking giant? Should Morgan Stanley PCS be merged with the 10,000 account executives of Dean Witter? Sculthorpe faced several dilemmas: Would the highly compensated MS PCS brokers stay in an integrated brokerage unit? Client retention could also be a problem if the two salesforces were merged in a manner inconsistent with the branding of either. With several key PCS investment professionals in various stages of considering whether to leave for competitors, he knew that he must act quickly and decisively.

Bill Copacino, Andersen Consulting's managing partner of Strategic Services Americas, needed to submit his recommendation to Peter Fuchs, Strategic Services worldwide director, for the operating plan for Strategic Services Americas for fiscal year 1999. Strategic Services had grown by over 40% per year in headcount since 1989, but remained a relatively small part of Andersen Consulting. Copacino and Fuchs were challenged to grow Strategic Services at the level required to increase its relative position in the firm to 10% of its people and 15% of its revenues. As they discussed options, there were no easy answers. Should Strategic Services continue to try to grow at 30% plus per year? Would Strategic Services be able to find enough new and experienced hires to continue to grow? Could the unique culture be maintained? Should they consider acquisitions? Was there an effective way to meet their growth targets?

Diamond Technology Partners, a consulting firm based in Chicago, was founded in 1994 by Mel Bergstein and Chris Moffitt, with investment from founding partners and Safeguard Scientifics. In April 1996, just after fiscal year-end, the two largest clients withdrew from projects representing 50% of the previous quarter's revenues. A few weeks earlier, management had put together a $50 million revenue forecast for the year, had hired 28 new employees to start the following September, and had promised employees year-end bonuses. Management also anticipated that the company would go public within the next 12 months. Bergstein wonders whether there is a future for Diamond.

Supplements the (A) case.

Hambrecht & Quist (H&Q), an investment bank headquartered in San Francisco, has a very unique culture relative to its Wall Street counterparts. Firm members and even competitors describe the culture as entrepreneurial, team-driven, non-bureaucratic, and change-oriented. H&Q's unique culture has given it a number of competitive advantages, including the ability to attract high-quality staff, the ability to win business among its target group of emerging growth companies, and the ability to maintain below-average SG&A costs. However, competition in the investment banking industry is intensifying in 1997-98 due to an unprecedented wave of mega-mergers between investment banks and commercial banks. The new combined banking entities are able to offer customers a broader array of products and services than H&Q is able to offer, creating a significant amount of pressure for H&Q to sell to, or merge with, another financial institution itself. Industry analysts believe it is not a question of whether, but rather of when H&Q will lose its independence. However, H&Q management believes that "selling out" would destroy the very culture that made the firm successful. What action should Dan Case, the CEO and chairman of H&Q, take to balance the seemingly competing demands of maintaining the firm's culture and positioning the firm for future growth?

On November 3, 1986, after a three-hour board of directors meeting, Union Carbide decided to accept First Boston's proposal to embark on a $2.5 billion recapitalization program. Jameson and his associates' efforts had paid off. Jameson had reason to be excited: He had changed a weak relationship between First Boston and Union Carbide into one that would generate tens of millions of dollars in revenues for his firm. In the highly competitive world of investment banking, it was a particularly sweet victory, since First Boston had won the business from Union Carbide's traditional banker, Morgan Stanley. A rewritten version of an earlier case for courses in service management.

Rafferty Goldstone, the protagonist of this HBR case study, was one of Bulwark Securities' hottest sales reps, but he dreamed of management. So he was elated when he was chosen to fill a manager's slot that had opened up on the East Coast. Now, six months later, he's in deep trouble and doesn't know where to turn for help. But who's responsible for Goldstone's floundering? And can anything be done to direct him down the right path? In 96201 and 96201Z, Thomas J. DeLong, Ellen Hart, Kathleen Collman, John Doumani, Joseph L. Galarneau, and Julie Johnson offer advice on this fictional case study.

Rafferty Goldstone, the protagonist of this HBR case study, was one of Bulwark Securities' hottest sales reps, but he dreamed of management. So he was elated when he was chosen to fill a manager's slot that had opened up on the East Coast. Now, six months later, he's in deep trouble and doesn't know where to turn for help. But who's responsible for Goldstone's floundering? And can anything be done to direct him down the right path? In 96201 and 96201Z, Thomas J. Delong, Ellen Hart, Kathleen Collman, John Doumani, Joseph L. Galarneau, and Julie Johnson offer advice on this fictional case study.