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Examines two dilemmas often faced by an operations consultant. First, the dual responsibility to both client and consulting firm. Second, the management of the often competing pressure to deliver immediate results, at the same time laying the foundation for long-term performance improvement.

In January 1996, an investment manager of a hedge fund is considering purchasing an equity interest in a start-up biotechnology firm, Rocky Mountain Advanced Genome (RMAG). The asking price is $46 million for a 90% equity interest. Although managers of the firm are optimistic about its future performance, the investment manager is more conservative in her expectations. She asks an analyst to fashion a counterproposal for RMAG's management. The tasks for students are to apply the concept of terminal value, interpret completed analyses and data, and derive implications of different terminal-value assumptions in an effort to recommend a counterproposal. Little computation is required of the students.

Stream International's Crawfordsville, Indiana facilities undertake the design and implementation of an activity-based costing project. After analyzing the costs assigned to 161 work activities, Crawfordsville managers present five proposals for change based on ABM results, then meet to decide which to implement.

Major Insurance Co. is a $15 billion insurance company that is an active, multi-family mortgage leader. This case is part of a negotiation game simulation that also includes Sunshine Villas, Silver Lane Apartments, and Jason Bosworth.

A brief history of foreign direct investment (FDI) is explored, emphasizing conflicts, developments in the legal framework governing FDI, and international agreements and nonbinding principles formulated to resolve disputes brought in by FDI. Propositions provide a context from which core issues may be discussed by the students.

The case covers all major aspects of Benetton's successful corporate strategy and innovative business system from its creation till the present. It also provides a complete overview of Benetton's unique communication philosophy and the controversy generated by it, along with a wealth of independent market research data from many countries.

In February 1995, Banc One faced the replacement of the "Uncommon Partnership," a basic operating strategy that had served it well for years. Leadership now struggled with the new protocols for replacement operating strategies.

Summarizes the accounting principles governing employee stock options, including the recently issued accounting standard SFAS 123, Accounting for Stock-Based Compensation. Presents the theoretical issues involved with valuation and measurement of employee stock-based compensation. Illustrates the accounting standard setting process in a unique and volatile situation.

Explores the management of technical disasters in which time plays a central role. Uses the experience of HMS Thetis and Apollo 13 to look at both successful and unsuccessful approaches.

Examines CIBA Vision's decision on whether to launch a major new R&D initiative to develop a low-cost, daily disposable contact lens, and how to organize such a project should it proceed. One group of executives favors setting up a small, autonomous project team organizationally and geographically isolated from the company's existing R&D operations. This approach will enable focus, but poses serious issues concerning future integration.

A portfolio strategist for the Pegasus Pension Fund, was reviewing a research paper investigating international tactical asset allocation that had been forwarded to him from a colleague. The president of the Pegasus Pension Fund had recently become concerned with the fund's shrinking surplus and had given a directive to the portfolio strategist to investigate new strategies that could enhance the fund's performance. He thought that adopting an international equity investment strategy might be appropriate to enhance the fund's performance. He was scheduled to make a presentation to the President the following week regarding the merits, risks, and possible introduction of one such strategy: international tactical asset allocation.

Canon is one of the leading innovators in the world. This case describes the processes by which Canon manages the flow of ideas from basic science to new products, and how it harnesses product innovation to a strategy of diversification.

Describes the competitive position of Arborite, a Canadian manufacturer of high-pressure laminates (HPL) (a product sold under the Formica name in the United States). Arborite's market share has slipped, and a new general manager must evaluate whether a change in strategy is warranted. Provides detailed information for Arborite and its competitors on the costs of performing the activities necessary to manufacture and market HPL.

Dewar's, a major brand of Scotch whisky, produced by United Distillers of the U.K., and the U.S. leader in the Scotch category with a 15% market share, faced a declining market among traditional consumers of distilled spirits. Given the growing societal, legal, and regulatory opposition to drinking in the U.S., the marketing options were limited. In addition, drinking preferences had shifted away from distilled spirits to lighter, lower alcohol beverages like wine, wine coolers, and beer. In early 1993, Dewar's U.S. importer, Schieffelin and Somerset, in cooperation with the brand's longstanding advertising agency, Leo Burnett, began to explore the opportunities for repositioning Dewar's to younger adults. Repositioning Dewar's was a necessity for the brand to remain viable in the long term. Its existing customer base was aging, and younger drinkers who did drink Scotch were consuming less. The issue is how to update the brand's image to attract younger consumers. The brand manager faces the decision of planning the strategy for a repositioning or "recruitment" campaign for the brand.

Presents the story of Open Market, Inc., one of numerous companies formed in 1994 to engage in electronic commerce over the Internet. This case examines the company's development--its business strategy and organization evolution--as the company increased in size and gained a firm foothold in the uncertain electronic commerce.

Provides a brief overview of international bank lending to developing countries in the 1970s and its culmination in the Third-World debt crisis after 1982.

Portrays the dilemma faced by Marsh Carter, CEO and chairman of the board of State Street Bank, in May 1995. For the past decade, the bank earned continually expanding earnings through its rapidly growing custody business. Now, as that business matures and custodial fees erode, Carter is seeking to expand the bank's presence in higher value-added financial services. Developing these will require the bank to build new sets of organizational capabilities to leverage and integrate skills located in different divisions of the bank.

Founder and CEO Bill Warner is faced with critical decisions regarding the product lines, target markets, and technology platforms that his start-up, Wildfire Communications, Inc., will pursue. In addition to the question of strategic focus across these lines of business, Warner must decide whether changes in the organizational process will increase his company's effectiveness.

Presents some data showing the magnitude, direction, and composition of capital flows to less developed countries (the so-called emerging markets) in the period 1990-1995. Some potential explanations for these flows are discussed. A number of policy responses to the scale of the flows are offered.

Discusses a series of incidents of conflict between the United States and foreign governments on trade.