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Describes how general managers can build organizational capability in their firms.

The purpose of this note is to explain the concept of economic value added (EVA) and to show how EVA can be employed as a tool to assess managerial performance and assist in making strategic decisions.

The theory of competitive advantage is one of the most widely accepted economic principles among economists. The theory, as well as substantial historical evidence, suggest that free trade raises national income, while government intervention in trade relations generally lowers a nation's wealth. In the last few years, however, new theories have led some commentators to question this conclusion. Based on research into imperfectly competitive industries, some of the new theoretical research suggests that it is possible to increase national wealth with specific types of government intervention in trade relations. The research is referred to as the New International Economics, or Strategic Trade theory. While interesting, these trade theories are often misunderstood and used inappropriately. This note introduces four strategic theories of trade. Also discusses several critiques of these theories. A rewritten version of an earlier note.

How nations trade and whether they benefit from it are two of the oldest and most important questions in political economy. In the 170 years since David Ricardo formally developed the theory of comparative advantage, it has become one of the principles most widely accepted among professional economists. Despite this wide acceptance in the professional community, the basics of international trade are still poorly understood by many policy makers and casual commentators. This note introduces the theory of comparative advantage. It is divided into four sections. The first presents a short history of the concepts behind comparative advantage. The second develops a simple model with several examples to demonstrate the gains that result from trade between nations. The third briefly covers several extensions of the simple model. Finally, two traditional objections to free trade are reviewed. A rewritten version of an earlier note.

Highlights and explores how a general manager adds value to the firm at the operational level by managing through people. Discusses how assumptions about human motivation influence the employment contract that the general manager implicitly enters into with the workers and ends with speculation on how the employment contract is fundamentally changing.

The focus of this note is to present a risk management framework for current and potential corporate end users of derivatives products in the mid-1990s. Several high profile cases of derivatives problems are presented in the context of the framework. The note also examines where the process has failed and how the failures could have been prevented.

Addresses the following issues at a conceptual level: 1) Who is a general manager? 2) To whom is the general manager responsible? and 3) How do general managers add value?

When two or more parties establish a relationship or structure a deal, one of the key issues that arises is the nature of the agency relationship between them. This technical note explains the concept of agency, outlines some of the typical agency relationships that exist in businesses, the agency problems that can arise between people and organizations and the tools that are employed to address these agency problems.

Broadly defines the concept of market failure and explores options for responding to it. It pays particular attention to the role of business leaders in addressing market deficiencies.

With the boundaries between philanthropy and commerce blurring, this note briefly gives nonprofit managers and social entrepreneurs a framework (the Social Enterprise Spectrum) for thinking creatively about structural options in the social sector.

Organizational stimulants and obstacles to creativity are summarized. The management tasks of supporting creativity and encouraging innovation are described as a delicate balance between over-control and chaos. A technology used to assess the climate for creativity is presented.

Describes the FDA's classification scheme for the three classes of medical devices and the review processes.

A series of examples are used to illustrate Comdisco's leasing transactions.

Describes the IMF, the World Bank Group, the regional development banks, the Bank of International Settlements, the OECD, and the Group of 7.

The determination of property income for Canadian income tax purposes is discussed in this note, along with some basic tax planning issues. Some basic examples illustrate the concepts, and several problems are provided.

People from different national cultures often operate under different assumptions about what is appropriate behavior. In organizational settings, these cultural differences in underlying assumptions can significantly affect interactions when individuals from various nationalities meet. This note describes a landmark study by Geert Hofstede of the impact of national culture on the work-related attitudes and values of IBM employees in 40 countries.

Provides a simple illustration of a methodology for making a financial evaluation of a brand.

In an introduction to standard costs and cost variances, discussion, formulae, and examples explore the idea of comparing actual costs to those that were expected.

Presents two basic principles that underlie the creation of joint gains. Four sources of joint gains--differences in interests, opinion, risk preference, and time preference--are discussed, and simple examples are provided to illustrate the basic concepts.

People will be most creative when they feel motivated primarily by the interest, enjoyment, satisfaction, and challenge of the work itself--when they are driven by a deep involvement in their work and a passion for it. This note describes the ways in which creativity can be stimulated by this intrinsic motivation, and by certain forms of extrinsic motivation, such as rewards that signal competence or support future achievement. Managerial implications are discussed.