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In an age where the digital machine can outperform the human mind at any task that can be represented as an algorithm, Integrative Thinking is the best revenge. The author argues that this particular kind of thinking still matters to success in business, and that figuring out how to do more of it requires a new conceptualization of thinking in terms of its integrative functions - the functions that produce successful integration across knowledge and interactional domains and confer agency upon decision makers. He describes three types of integrative thinking and why they stand out for the value they create: substantive integration; interactional integration and agency (the integration of seeing, feeling, thinking and action.)

Senior managers in Parmalat SpA's U.S. subsidiary (Parmalat USA)-many of whom were from the Italian parent company or other Parmalat entities-uprooted, cleaned out their offices, and left as the magnitude of the parent company's fraud became known in late 2003. Parmalat USA had filed for bankruptcy in October 2003. With urgency and desperation, Enrico Bondi, the Extraordinary Commissioner of Parmalat SpA, had contacted the Milan office of AlixPartners, a global restructuring, consulting, and financial advisory firm. Bondi requested AlixPartners' assistance in determining the cash situation at the U.S. subsidiary and helping lead the struggling division, which was now void of senior management. Jim Mesterharm, a managing director in AlixPartners' Chicago office, was asked to lead this initiative as the chief restructuring officer. Parmalat SpA, often referred to as the Enron of Italy, was a trophy turnaround assignment at the outset for AlixPartners: for them, the worse the economic problem, the better the assignment. Ninety days was enough time for Mesterharm and his team to determine what could be cut off and what discussions were needed with the U.S. vendors, customers, and employees. Mesterharm's team changed the accounting methods from GAAP basis to cash basis. They constructed a 13-week cash flow model. Aggressive efforts were made to delay payables and to accelerate receivables to create cash. The battle to keep Parmalat USA afloat had begun.

In 2005, a wine snob in the critically acclaimed movie Sideways denounced merlot. Subsequently, sales of merlot, including sales for Terlato's Rutherford Hill merlot, declined significantly. Students are asked to evaluate three strategies-rebranding, cutting price, and launching television advertising-that Terlato is considering to reverse this decline. The case should be used with "Student Supplement: Terlato Wines International: Background Note on the U.S. Wine Market and Terlato Wines International," Case #KEL359.

This background note provides an overview of the U.S. wine industry and a history of Terlato Wines International. Data on market trends, key competitors, distribution channels and Terlato's segmentation and targeting for specific brands are included.

The Biaxin case deals with competition in the mature market for antibiotics designed for use in the treatment of bacterial respiratory infections. The case tells the story of how Pfizer's Zithromax stole the share dominance of an established brand, Abbott's Biaxin. The case deals with the importance in pharma markets of consumer (patient) and channel (physician and insurance payer) insight as well as pharmacological efficacy data.

The Biaxin case deals with competition in the mature market for antibiotics designed for use in the treatment of bacterial respiratory infections. The case tells the story of how Pfizer's Zithromax stole the share dominance of an established brand, Abbott's Biaxin. The case deals with the importance in pharma markets of consumer (patient) and channel (physician and insurance payer) insight as well as pharmacological efficacy data.

A major barrier for growth of large multi-business-unit firms is the inability to resource the critical initiatives to win-both in terms of dollars and people. The underpinning of the challenge involves the conflict between resourcing current cash-generating legacy businesses vs. new initiatives which may not, in the short term, produce positive financial results. Most companies do not have a formal portfolio process to deal with this fundamental issue. The Healthcare Solutions business unit of Danaka is a fictional business based on real business experiences. The principle challenge is the need for this business to free up $300 million of current, budgeted R&D projects to fund new, unfunded initiatives to meet its five-year growth objectives. Tools and processes are introduced via interactive spreadsheets that show how to make the tough portfolio decisions on a project-by-project basis.

Spreadsheet Supplement for Product # KEL363

Globalization leads to increased business opportunities and changing rules of the game. Different institutional settings and different organizational players continuously shape business opportunities through different public policy processes operating in various locales. Herein, we develop a framework, based on the work of Nobel laureate Douglas North, which enables managers to determine essential considerations of public policy arenas where they may operate or consider operating.

In this article, we examine the evolution of corporate governance reforms in the emerging economies of China and India. We first describe the two major driving forces behind governance reforms in these countries: privatization and globalization. After summarizing the evolution of governance reforms in each context, we identify four major obstacles that impede their implementation in both countries, namely: (1) lack of incentives, (2) power of the dominant shareholder, (3) underdeveloped external monitoring systems, and (4) shortage of qualified independent directors. Next, we highlight practical implications of these governance challenges for foreign firms contemplating, or already involved in, major investments in these emerging economies. We emphasize that foreign firms that are sensitive to context-specific challenges are more likely to put in place appropriate contractual or other safeguards, as well as identify more practical and meaningful forms of participation in the governance of their ventures. Finally, we conclude with some implications for future research.

Poorly performing managers shouldn't necessarily heed the demands of hedge funds that call for change in a company's strategic direction. Giving in does not, on average, yield stock gains that outperform the market - that is, unless the firm gets acquired.

Companies that excel in managing partnerships for innovation put a great deal of effort into im-proving their ability to collaborate. Their plans address four critical areas.

In early 1720, the South Sea Company and the Bank of England were competing for the right to issue new shares and to exchange those shares for government bonds that were then in the hands of the public. The British government had already executed two such debt conversion with the South Sea Company. Most individuals who had converted bonds for shares in 1711 and 1719 had seen their South Sea shares appreciate in the meantime, and the government had lowered its debt servicing costs as a result of these two conversions. The conversion under consideration in 1720, however, would be on a much larger scale. In time, the South Sea Company won the bidding war, and the House of Commons approved its debt conversion plan. Now it was up to the House of Lords to approve or reject the deal.

A high-ranking district administrator in India, upon taking office, is informed that his predecessor agreed to acquire a plot of land for a local jail. When he learns that the landowner is the wife of an influential local politician, he becomes suspicious and decides to inspect the property himself. Located in the middle of a forest, completely inaccessible to transport, and far from police headquarters, it becomes clear that the land acquisition is designed only to make someone rich at the district's expense. Meanwhile, the real needs of the district-to provide safe drinking water, prevent malaria, improve literacy, invest in employment programs, and wean local youth away from secessionist militancy-are slighted. The administrator decides to stall the acquisition, even while realizing that the effort may put his career, and his programs to help the district, at risk. The case recounts his escalating tactics, from bureaucratic trickery to deliberate deceit and destruction of a government document. It provides a vehicle for discussing the ethical duties of public officials confronted with systemic corruption-and possible strategies for dealing with it. HKS Case Number 1888.0

A high-ranking district administrator in India, upon taking office, is informed that his predecessor agreed to acquire a plot of land for a local jail. When he learns that the landowner is the wife of an influential local politician, he becomes suspicious and decides to inspect the property himself. Located in the middle of a forest, completely inaccessible to transport, and far from police headquarters, it becomes clear that the land acquisition is designed only to make someone rich at the district's expense. Meanwhile, the real needs of the district-to provide safe drinking water, prevent malaria, improve literacy, invest in employment programs, and wean local youth away from secessionist militancy-are slighted. The administrator decides to stall the acquisition, even while realizing that the effort may put his career, and his programs to help the district, at risk. The case recounts his escalating tactics, from bureaucratic trickery to deliberate deceit and destruction of a government document. It provides a vehicle for discussing the ethical duties of public officials confronted with systemic corruption-and possible strategies for dealing with it. HKS Case Number 1889.0

Linda Jenkinson, Chairman and CEO of luxury personal services company, LesConcierges (LC), hung up the phone after checking her voicemail in July 2007. She had just received a message from Randy Haykin, an angel investor and board member who had participated in the Series C round that Jenkinson recently raised. After an initial "honeymoon period," she and Haykin had started disagreeing on internal matters, most recently about whether to hire an interim CFO while the company took time to source a permanent candidate. Jenkinson began to wonder whether Haykin had been the best choice for the board and if there was anything she could do to work with him more effectively. Unbeknownst to Jenkinson, Haykin was simultaneously considering whether his investment in LesConcierges would turn out to be the "home run" that he had originally anticipated. He also questioned how he could help solve the challenges facing the company's CEO without damaging their relationship in the process.

This case explores French consumer goods company Danone's novel approach to knowledge management. In 2007, Human Resource Chief (Executive Vice President) Franck Mougin assesses the company's knowledge-sharing tools and considers his options going Forward. Through informal knowledge marketplaces and sharing networks, Danone had helped managers connect with each other and share good practices peer-to-peer, rather than relying on traditional hierarchical lines of communication or IT repositories. From 2004 to 2007, Mougin and his team had found that 5,000 Danone managers around the world--the company conducted business in 120 countries--had shared about 640 now-documented good practices. In 2007, the strategic importance of saving time in a decentralized organization through adoption of colleagues' good practices was put to a test. Should the knowledge management tools be extended to include all employees and external partners on a regular basis? And on top of sharing good practices, could it be extended to include the creation of new solutions and processes? Would this require more formalization of processes and more tracking of results? The case illustrates Mougin's options on taking knowledge management into the future of Danone.

With its dual listings on the Hong Kong stock market and New York Stock Exchange, state-owned enterprise, China Netcom was mandated to meet the listing requirements of these exchanges. From this initial step, China Netcom's Chairman, Zhang Chunjiang, began a program that sought to further develop the company's corporate governance practices to meet international corporate governance standards. The company hoped that its commitment in developing a globally-accepted governance structure would help the capital markets and potential investors understand that the company was a true, modern corporation, even with the state as a majority owner.

Students' preparations and first-class discussions focus on the key resources, factors, and relationships that could be causing the poor performance of the student-run consulting organization. Students should develop a causal-loop diagram showing the key resources, feedback relationships, and delays in the system. As a follow up assignment, sufficient information is available for the students to develop a system simulation model. Instructors can choose an alternate assignment requesting students to evaluate and utilize a simulation model developed by the authors. Systems-intervention analysis and policy testing is expected once a valid model is developed or given to the students. Instructors should contact Professor Robert D. Landel at the Darden School for free use of the model.

The 1999 Mont Blanc Tunnel Fire case uses a time-line approach with discussion of events during each time period. Students are requested to identify problems which were management-caused, either prior to or during the fire situation. The fire resulted in million of dollars in damage, thirty-nine deaths, and a three-year closure of the tunnel.