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When organizations are confronted with a crisis, they sometimes have the opportunity to decide whether or not to disclose that information. Organizations may hesitate to reveal such negative events out of fear of drawing unnecessary attention to the crisis, legal liability, or other related problems. The aim of this article is to discuss the pros and cons of self-disclosure and to offer tools to public relations practitioners that will help convince management of the advantages of self-disclosure in a time of crisis-what has been labeled stealing thunder. Research repeatedly has illustrated several valuable ways in which the self-disclosure of crises can benefit organizations in trouble, the most important of which is that it allows organizations to behave in an ethical manner. The article also lists and refutes several arguments often given in favor of crisis concealment and aims to clarify why organizations should never hesitate when they have the opportunity to self-disclose a crisis.

It is often said that being a good strategist requires keeping a cool head. However, eradicating emotional influences from the strategy process is not only infeasible, it is also undesirable. Drawing on the latest advances in the science of emotion, this article explains how emotion regulation is an essential skill that executives must cultivate to ensure that their enterprises are able to adapt effectively in these turbulent times. The authors offer practical steps to help executives manage better the emotional dynamics of strategizing, which left unchecked can derail even the most carefully orchestrated of strategy processes

Researchers in behavioral strategy are producing new insights on strategic decision making. At the same time, a few pioneering companies are discovering ways to put behavioral strategy into practice. This article draws on behavioral research and strategy practice to present an approach called diligence-based strategy. In markets comprised of people rather than rational economic agents, the analysis of competitive advantages matters less than the diligent execution of fundamental activities. Diligence-based strategy offers an applied method for formulating and executing strategy in organizations, showing how managers can leverage technology and management discipline to drive business success in the twenty-first century.

This article introduces strategists to the Mindspace framework and explores its applications in strategic contexts. This framework consists of nine effective behavioral interventions that are grounded in public policy applications, and it focuses on how changing the context can be more effective than attempts to de-bias decision makers. Behavioral changes are likely when we follow rather than fight human nature. Better decisions can be achieved by engineering choice contexts to "engage a bias" to overcome a more damaging bias. This article illustrates how to engineer strategic contexts through two case studies and outlines directions and challenges when applying Mindspace to strategic decisions.

The consumer banking industry is notoriously hard to enter. Customers rarely switch banks (switching costs are high) and there are considerable barriers to entry to new players. Traditionally, banking products can be complex, often accompanied by non-transparent cross-selling practices and hidden fees and commissions that seem designed to extract as much money as possible from customers, rather than serving them in a customer-centric way. The case is set in South Africa, where around the turn of the millennium the banking sector was dominated by four major players who collectively had a market share in excess of 80%. The established players differentiated customers according to income bracket, rather than the value of the service being provided, and tended to overlook those on lower incomes. There was a large 'unbanked' or underserved demographic who lacked almost all access to financial services. The case details how Capitec entered and disrupted the industry by targeting the mass market, including the hitherto unbanked, and by becoming a bank that was open to customers from all income groups and which treated all customers alike. By focusing on three key principles - affordability, accessibility and simplicity - and with a clear customer focus, Capitec was able to stimulate much broader financial inclusion and capitalise on it accordingly, establishing a position in the top four banks and enjoying year-on-year growth in terms of new customers and revenue that far outstripped its competitors.

Although the ability to manage torrents of data has become crucial to companies' success, most organizations remain badly behind the curve. More than 70% of employees have access to data they should not. Data breaches are common, rogue data sets propagate in silos, and companies' data technology often isn't up to the demands put on it. In this article the authors describe a framework for building a robust data strategy that can be applied across industries and levels of data maturity. The framework will help managers clarify the primary purpose of their data, whether "defensive" or "offensive." Data "" is about minimizing downside risk: ensuring compliance with regulations, using analytics to detect and limit fraud, and building systems to prevent theft. Data "offense" focuses on supporting business objectives such as increasing revenue, profitability, and customer satisfaction. Using this approach, managers can design their data-management activities to support their company's overall strategy.

In June 2016, the chief executive officer (CEO) of the United Kingdom-based Time Out Group PLC (Time Out), had just taken the company through an initial public offering, raising much-needed capital for investment and growth. Time Out, which provided consumers with information, tickets, and access to theatre, concerts, and events, as well as food, drink, and cultural experiences in its Time Out Market, had reported significant losses in 2014 and 2015. However, there was momentum in new market areas, and the recently launched Time Out Market in Lisbon, Portugal, had seen revenue growth of 67 per cent between 2014 and 2015. Now, with £59 million to invest, the CEO had to lead the company back to profitability. He needed to balance foreign direct investment in physical Time Out Markets with digital transformation of the company's offerings. At the same time, he had to find ways to reinforce the new organizational culture he was building at Time Out as a way to help fulfil his corporate vision of Time Out as a disruptive force.

In September 2013, Tokyo Electron Limited announced a merger with Applied Materials Inc. The deal would place the new entity in the leader position in the highly consolidated global semiconductor manufacturing equipment industry, which counted Intel Corporation and Samsung Group as major customers. Due to antitrust issues, the deal was eventually cancelled. Shortly after, in October 2015, Lam Research Corporation announced a merger with KLA-Tencor Corporation. If this deal was accepted, the market would be led by three companies-Applied Materials Inc., ASML Holding, and Lam/KLA-Tencor-while Tokyo Electron would be marginalized. Given the tremendous cost pressures from the consolidated competitors and powerful customers, should Tokyo Electron initiate another merger to consolidate its position? Were there other effective competitive options? What could it learn from its failed merger with Applied Materials Inc.?

The Orchid Species Preservation Foundation (OSPF) was a not-for-profit organization in Edmonton, Alberta, Canada. It was dedicated to the preservation of rare orchid species. The OSPF had 4,500 orchids housed in a greenhouse facility at the Muttart Conservatory, which was owned and managed by the City of Edmonton. In the autumn of 2014, the Muttart Conservatory management decided that the orchid collection should be downsized, in turn sparking the OSPF board to consider alternative futures for the foundation.<br><br>The OSPF board members created an ambitious multi-phase plan to build their own facility. The president and chairman of the OSPF board determined that the new facility would require the foundation to increase its yearly revenue by 10 times the current amount. He worked with the board members to develop a list of strategies targeting revenue generation; however, the options were not yet well-defined and could take the organization in many different directions. The board needed to find a stronger strategic focus and choose a clear direction to take the OSPF forward.

In early 2006, BlackRock, Inc. is considering acquiring Merrill Lynch's asset management business. The asset management industry was in a state of transition. In the prior year, more than 130 mergers and acquisitions had taken place. The proposed deal between BlackRock and Merrill Lynch would change BlackRock from a chiefly U.S.-based fixed income asset manager for institutional clients, to a firm with a global footprint and a strong equities and retail business. Was this the right thing to do to grow BlackRock? Was the timing right? Was the price right?

On June 11, 2009, BlackRock, Inc., the world's fourth-largest asset manager announced it was acquiring Barclays Global Investors (BGI) for $13.5 billion in stock and cash. The deal would more than double BlackRock's assets under management (AUM), making it the world's largest asset manager. There was more than just a significant difference in investment philosophy that separated the two firms. There were also significant cultural differences between New York-based BlackRock and San Francisco-based BGI. There was doubt internally at BlackRock and externally (i.e., analysts) whether it was the right move for BlackRock, but the firm's co-founder and CEO Larry Fink was undeterred.

By the end of 2015, BlackRock had succeeded beyond any of the early dreams of its founders. The firm remained the world's largest asset manager, with more than $4.6 trillion under management, and other financial services companies used BlackRock's Aladdin platform to monitor an additional $12.9 trillion of assets. With its success, the firm had become far more complex. The scale and scope of BlackRock were helpful to clients when the parts of the company worked together, but that very same scale and scope made working together harder. BlackRock's leadership took stock of the investment landscape in early 2016 and what the firm would need to do in the future to continue to grow.

Jon-Mark Chappellet, Director of Operations at Clos Du Val Winery in Napa Valley, is developing a 50-year plan. The effects of climate change are forcing Chappellet and other Napa Valley vineyards to adopt various adaptation strategies to protect the quality of their grapes and wines. Climate change impacts can include decreased water availability, temperature variations outside optimal growing conditions, and increased threat of pests. Napa Valley is a strong, competitive market for grape growers and vintners and is most known for its ideal growing conditions for cabernet sauvignon grapes where estate wineries like Clos Du Val focus their production efforts. Will Clos Du Val have to abandon its signature brand of cabernet sauvignon wines and adopt other grape varietals capable of thriving in the changing climate conditions? What kind of diversification strategy will Chappellet need to implement to address climate change?

In September 2015, the Volkswagen Group (VW) was in a state of flux. Its reputation was taking a severe beating in the auto industry and among consumers. The United States Environmental Protection Agency had accused the company of tampering with its EA 189 diesel engines to clear emissions tests. The engines, fitted with a "defeat device," met the stringent emission levels and higher fuel efficiency standards set in the United States. The defeat device controlled emissions during laboratory testing and driving so that they remained within permissible limits; however, during actual on-the-road driving, the nitrogen oxide emissions were up to 40 times higher. VW's admission of the intentional manipulation severely dented its value chain, affecting market share, brand image, internal/external stakeholders trust, and supply chain operations. In the wake of the scandal, the company faced the challenge of organizing a product recall and reconceptualizing the VW brand identity.

Co-Founders of the North is a digital multiplayer turn-based strategy game. Players take on the role of "co-founders", so named for their joint pioneering role in constructing buildings on a set of four fantasy islands. Players must both compete and cooperate, having to balance limited resources and allegiances while contending against each other's hidden agendas. Collaboration is essential to winning, yet only a single player will ultimately win. A player must accumulate the most allegiance points to win. This is accomplished by constructing buildings on available slots, or by paying to demolish a building and constructing over it. Each building generates a different number of points for different allegiances and costs a certain amount of gold to construct. Players receive additional income (i.e., gold) each turn from completed buildings. A player will often not have enough gold to construct a building on their own. In these situations, a player may instead invest a partial amount, allowing other players to invest in completing the building. When this happens, players receive an income proportional to their respective investment. Players are thus confronted with a dynamic environment that will affect their strategic choices, such as when to cooperate and when to go it alone. At the end, there can only be one Ruler of the North!

The Poultry Research Centre at the University of Alberta farm was an internationally recognized research, development, and learning hub. It began the Rare Poultry Conservancy Program in 1986 as a way to maintain heritage chicken breeds. In 2009/10, as a result of the global financial crisis, university funding was reduced, and every campus department needed to cut programs or find creative ways to finance them outside of the traditional methods. By 2014, the funding cuts posed a grave concern for the continuation of the heritage chicken program. Annual costs of CA$75,000 were required to maintain the flocks with very limited financial return. However, a leader at the Poultry Research Centre felt that the birds were important enough to develop a model where they could pay for themselves.

The Swiss company TAG Heuer, maker of luxury watches, is part of the LVMH group (Moet Hennessy Louis Vuitton). In 2015, CEO Jean-Claude Biver is deciding whether to launch its first-ever fully connected Swiss watch, manufactured in partnership with Google and Intel. Entering this new market presents an unprecedented challenge: making a watch based on a technology (microprocessors) that the Swiss have not mastered. Is TAG Heuer ready to compete in the digital space - and potentially without the traditional 'Swiss Made' label? Case B takes up the story following the successful launch of the TAG Heuer connected watch. Sales are beyond all expectations for the luxury Swiss watchmaker and its partners Intel and Google. There are a few surprises too - the consumers are older than they expected and the watches sell out far quicker than anticipated - hence the company runs into some supply chain issues. Please visit the https://cases.insead.edu/tag-heuer dedicated case website to access supplementary material.

Northern Dynasty Minerals Ltd holds the rights to the Pebble Mine in Bristol Bay, Alaska. The mine is the largest copper, gold, and molybdenum deposit in the world. However, the deposits are situated under the world's most profitable and sustainable salmon fishery which supports many impoverished Native Alaskan communities who rely on the fish for their livelihoods. Extracting the minerals may harm the salmon fishery, affect a largely unspoiled landscape, and disrupt local communities and culture. But there is uncertainty surrounding these potential risks. Northern Dynasty must choose the best public engagement and transparency strategy to ensure a smooth approval process for the proposed Pebble Mine operation.