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This note describes the hedge fund industry as of the end of the year 2007.

This note first documents the facts around the sustainability of competitive advantage. It then observes that the demise of a previously successful strategy, in the first instance, often comes from some change in the external environment. It, therefore, characterizes the types of change that can lead to strategic decline. But external change alone should not mean the end of superior performance since the skilled strategist ought to be able to adapt to such changes. The final part of the note looks inside the firm to examine why managers often fail to respond adequately to external threats and explains why it is valuable to study the causes of strategic decline.     

This note develops a framework for considering the challenges of incorporating marketing input when setting innovation strategy. The framework lays out the possible innovation opportunities a firm can entertain and describes how the customer knowledge gained from conducting market research at the front end of NPD affects which of these opportunities the firm should pursue. Pitfalls in analyzing the customer data are described, along with guidelines on how to overcome them. The impact of competition in the context of setting innovation strategy under market uncertainty is also addressed.

This note explains how health care providers, health insurers, and consumers are held accountable for their performance and the entrepreneurial opportunities thus created.

Ideal for a study of entrepreneurship as a phenomenon, this note explores the difference between causal models and effectuation. Whereas causal models focus on maximizing returns by selecting optimal strategies, effectuation begins with a determination of how much one is willing to lose and leveraging limited means in creative ways to generate new ends as well as new means. The effectuator then uses the very process of building the venture to bring other stakeholders on board and creatively leverages slack resources available in the world. At each stage of the process he or she chooses options that create more options in the future.

Multinationals are active in different countries. This note explores why this is the case and how multinationals can be competitive in these foreign environments. At the same time, the note discusses recent trends in foreign direct investment (FDI).

Six different business disputes, all in the shadow of pending litigation, are described. Students are asked to recommend the appropriate method of dispute resolution (mediation, arbitration, mini-trial, etc.) for each one, depending on the circumstances, especially to assess likely barriers to unassisted negotiation.

This note provides guidelines to consider and reviews the sources available for compensation research. Having an understanding of the "outside option", that is effectively the average salary being offered for a position in a specific type of firm is an important component of conducting analysis for compensation decisions. The information in this note will help in locating the information necessary for this type of analysis.

This note provides an overview of intercorporate investments, including passive investments (marketable securities), investments that result in significant influence, and investments that result in control. Then, the accounting for marketable equity and debt securities is described in detail.

A technical note reviewing business combinations and Goodwill accounting, under the Statement of Financial Accounting Standards, No. 141R.

This note provides an introduction to the law of sexual harassment. It has three parts. Part One describes the laws on harassment in the United States. Part Two explores controversial and emerging aspects of the American legal framework. Part Three gives a brief overview of sexual harassment laws and policies in several regions of the world, including Europe, Asia, and Latin America.

This technical note discusses the methods and factors that investment bankers and venture capitalists take into account when placing a value on the shares of biotech companies.

Subtle biases and covert prejudice affect interactions in the workplace. Subtle biases are automatically activated associations or stereotypes that relate groups (e.g. men and women) with attributes or characteristics (e.g. career or household), often outside of our awareness. Covert prejudice refers to concealed negative opinions about members of other groups. Managers and business leaders can benefit both from understanding how subtle biases and covert prejudices can translate into discriminatory behaviors and from learning to manage in a way that avoids such biases and prejudices. The note has four sections, each of which can be read individually: Managerial Relevance, Subtle Biases, Covert Prejudice, and Managing to Avoid Subtle Biases and Covert Prejudice.

Lean has been defined as the "relentless pursuit of the elimination of waste." This technical note provides a glossary of terms concerning Lean implementation, including muda, muri, nura, kanban, andon board, SMED, poka-yoke, 5S, gemba, takt time, heijunka, and kaizen.

Background notes for MedVal and Fortis case studies.

This note introduces four analytical probability distributions and the underlying uncertain processes from which they can be derived. It demonstrates that, when we can build a reasonable model of an uncertain process, we can use the model to derive the probability distribution from fundamental principles and forgo the chore of estimating the distribution subjectively by assessing fractiles. The probability distributions discussed are the binomial, normal, Poisson, and exponential. The associated processes discussed include counting, accumulation, Poisson, and memoryless. The note emphasizes that, although these probability distributions have many legitimate applications, they are applicable only when the specific assumptions about the underlying processes are satisfied--that is, when the uncertain quantity is obtained from a process similar to the one used to drive the probability distribution in the first place.

Social networks have evolved into influential, compelling and persuasive systems, the portals of Web 2.0 and one of the most powerful media phenomena in 2008. This note provides a brief background and description of various social network sites including MySpace, Facebook, and YouTube. We also discuss recent trends and strategies stemming from the social network phenomena including widgets and online advertising.

In discussing the key cost management principles every executive must know, this technical note organizes the information under six principles. For example, the many meanings of the word "cost" are defined in an abbreviated costs glossary under the first principle while the remaining principles cover relevant costs, allocating indirect costs, good cost data, and second-effect costs.

This note summarizes a lot of the research on communication and language in its relationship to exercising power. Specifically. How language is used to negotiate power, what are the characteristics of effective communication, and how you can tell if someone is lying are all briefly considered. The note is used in a class on power in organizations, for a session on the use of language in attracting support and allies.