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Executive Education
in Europe

Changing the Game—Europe
Negotiation and Competitive Decision Making

June 28-July 3, 2009 (London, UK)

Designed as a comprehensive program for practical success, Changing the Game features courses, cases, and activities that improve every aspect of negotiation, including objective self-assessment tactics, negotiation simulations, situation analyses, and advanced decision-making skill sets that can be shared across the entire organization.

All Global Executive Education Programs

2009

The London 2012 Olympic Games

Gourville, John T., and Marco Bertini
October 2009

It's 2009 and Paul Williamson, Head of Ticketing, must finalize ticket prices for the 2012 London Olympic Games. Yet, there are many criteria to consider. First, given the importance of ticketing to the Games' bottom line, he has a strong incentive to maximize revenues. Second, because the entire world will be watching, he wants to maximize attendance-not just at the Opening Ceremony and swimming finals, which are easy sells, but also at events such as handball and table tennis, which are not. Third, he wants to fill seats with the right people-knowledgeable fans who add to the energy and atmosphere of the event. Finally, tickets have to be accessible not only to the world's elite but also to average Londoners, many of whom live around the corner from the Olympic Park.

Transworld Auto Parts (A)

Narayanan, V.G., and Lisa Brem
October 2009

Transworld Auto Parts had to implement its new strategy flawlessly to survive the auto industry upheaval. The new CEO asked her leadership team to craft strategy maps and balanced scorecards to help each division implement its strategies.

Transworld Auto Parts (B)

Narayanan, V.G., and Lisa Brem
October 2009

Supplements the (A) case

Tenova: Mining for Growth in an Economic Crisis

Pisano, Gary P., Elena Corsi, and Elisa Farri
October 2009

In December 2008, Gianluigi Nova, CEO of Tenova SpA, a technology and equipment supplier to the metals and mining industry, had to choose between two options. The first was to continue growing in the company's core business: equipment for the steel production. The second option offered growth in a related, but nearly new business for Tenova: the equipment for mining, mineral processing, and extractive metallurgy. They only had a small presence in this market. Yet, Nova had to cope with the worldwide economic crisis whose destructive power hit every area of the metals and mining industry. Nova had to decide which option offered the best opportunity to grow in the worst economic crisis since 1929.

Publicis Groupe 2009: Toward a Digital Transformation

Kanter, Rosabeth Moss, and Matthew Bird
October 2009

After a series of acquisitions, Maurice Levy, the Chairman and CEO of Publicis Groupe, had created the fourth largest marketing and communications company in the world. His next major challenge was managing the firm's digital transformation. In December 2006, the company acquired Boston-based Digitas, a leading digital agency headed by David Kenny. After the initial merger, which included the unbundling of Digitas capabilities and the global expansion of its agency network, Publicis Groupe launched VivaKi, a new company-wide digital platform, to spearhead the firm's total transformation. But since the June 2008 launch, the global economy had taken a turn for the worse. Could Levy, Kenny, and other leaders change the holding company quickly and effectively enough to make the new model work?

Gucci Group: Freedom within the Framework

Martinez-Jerez, F. Asís, Elena Corsi, and Vincent Dessain
October 2009

Gucci Group's CEO had to decide if his decentralized management style was the most effective philosophy in an economic downturn. The sharing of customer information across units and its use in the creative process are key initiatives analyzed in the case. CEO Robert Polet joined the high-end fashion Gucci Group in 2004, after 26 years at one of the largest consumer goods companies. Since his arrival, the Group had grown both in revenues and profitability. Part of his secret was his decentralized and empowering management style. In 2008, in the midst of the economic downturn following the credit crunch crisis, Polet learned that after four years of growth the Gucci brand-the Group's largest business-would report a slowdown for the year's first semester. He knew that according to his management philosophy he should leave the primary decisions for the Gucci brand to Gucci's CEO. Yet, given the urgency of the situation, Polet wondered if it would be more effective to become directly involved in the brand's decision-making process. To anchor the discussion on Polet's management style, the case discusses how customer information is used in the creative process and whether it would be beneficial for the group to share customer information across stores, regions, and brands.

Procter & Gamble in the 21st Century (A): Becoming Truly Global

Kanter, Rosabeth Moss, and Matthew Bird
October 2009

Since the 1980s, Procter & Gamble had leveraged its purpose, values, and principles (PVP) to create a global company. When P&G faced difficult times in 2000, the new CEO, A.G. Lafley, leveraged the PVP to drive P&G's turnaround, integrate global operations, and guide decision making in all facets of the business. But the Gillette acquisition posed a new challenge.

Procter & Gamble in the 21st Century (C): Integrating Gillette

Kanter, Rosabeth Moss, and Matthew Bird
October 2009

P&G had used its purpose, values, and principles (PVP) to prepare for the physical integration of Gillette prior to the change of control. The execution of these plans posed numerous challenges in global business units as well as in individual country organizations. While managers sought to maintain business momentum during the transition, corporate leaders were intent on continuing to use Gillette as a catalyst of change.

Western Union: Our World, Our Family®

Marquis, Christopher
October 2009

In 2006, Western Union spun-off from its former parent, First Data Corporation, and began the process of defining itself as a stand-alone organization. Part of that effort was the creation of a strategic corporate social responsibility program called Our World, Our Family. The case tracks Western Union's earlier CSR initiatives and how they resulted in the creation Our World, Our Family. Key elements of the case focus on understanding the Western Union business model focused on financial remittances, and how its corporate citizenship efforts bring value to the company by satisfying the diverse needs of Western Union's stakeholders.

Verne Global: Building a Green Data Center in Iceland

Steenburgh, Thomas, and Nnamdi Okike
October 2009

Verne Global, a pioneering startup created to build the first large-scale data center in Iceland, faces critical challenges regarding its green strategy. Verne Co-Founder Isaac Kato is tasked with evaluating how the company can most successfully market and sell the green components of its service offering. Using only renewable energy in its data center facility, Verne can drastically reduce customers' carbon emissions, enabling customers to meet emerging government regulations and to capture the financial benefit of public goodwill arising from green initiatives. But how valuable are Verne's green benefits, and are they sufficient to compel customers to pay a premium for Verne services? Further, how can Verne best integrate its green strategy into its marketing and sales message? Finally, will Verne's green benefits enable the company to overcome obstacles in the sales process, or will they alternatively overcomplicate an already complex sales message? Kato's decision allows discussion of the emerging role of green marketing and sales and helps to identify how a product or service which is good for the environment can also be good for the bottom line.

Eden McCallum: A Network-Based Consulting Firm

Gardner, Heidi K., and Robert G. Eccles
October 2009

Eden McCallum pioneered the network-based ("virtual") consulting firm model in the U.K. Contracting freelance consultants on a per-project basis keeps overheads lean so that Eden McCallum's fees are a fraction of the big firms' rates. Their flexible, low-cost model has attracted top-notch corporate clients, resulting in steady double-digit annual growth in its first nine years. In January 2009, however, the global economic crisis has dramatically reshaped the competitive landscape and the founders must decide between pursuing their high-growth strategy versus retrenching-including cutting costs and pulling out of their first international expansion that they had launched the prior year. This case explores how the elements of a firm's innovative model reinforce each other and what happens when the environment changes.

Airbus A380-Turbulence Ahead

Raman, Ananth, William Schmidt, and Vishal Gaur
September 2009

Multiple delays of the Airbus A380 have shocked analysts and investors alike. What are the causes of these delays and how should investors respond to the signals they may be sending about the company's outlook?

The Blackstone Group: Merlin Entertainment

El-Hage, Nabil N., and Brenda Chia
September 2009

The Blackstone Group had conducted a roll-up of theme parks and attractions business in Europe. It was considering how to generate liquidity for its investors. Blackstone entered the theme parks and attractions business in Europe by acquiring a majority stake in U.K.-based Merlin Entertainment in 2005. In 2005 and 2006, Merlin Entertainment acquired two other similar businesses, LEGOLAND based in Denmark, and Gardaland based in Italy. At the end of 2006, Blackstone's team was weighing its options for generating liquidity for its investors. The options were to conduct a dividend recapitalization of Merlin Entertainment or to acquire The Tussauds Group. The acquisition, if successful, would result in the second-largest theme parks and attractions business in the world after Disney. The Tussauds Group was owned by another private equity firm, Dubai International Capital (DIC). Blackstone's goal was to make a minimum of 3x on its initial Merlin investment through the dividend recapitalization and at least 5x through the Tussauds acquisition. A third option arose while Blackstone was in negotiation with DIC. This was the opportunity to perform a sale-leaseback of the underlying real estate assets owned by Merlin and Tussauds. Based on the facts and financials provided, it is clear there were tradeoffs between the size of the potential returns for each option, timing, and the risks that have to be managed. What should the Blackstone team do?

Radiant Cosmetics: What's in a Pout?

Pozen, Robert C., and Mary Ellen Hammond
September 2009

In 2006, Radiant Cosmetics president and CEO, Margaret Clark, was contemplating the launch of a new, lip-plumping product called "Four Carat Pout." Clark faced many decisions concerning the launch: marketing the product as a luxury brand or a retail item; how to position the product as a possible starting point for an expanded anti-aging line; and how to market and distribute the product internationally, particularly in France. Issues of intellectual property were also essential to the launch-in the past, Radiant had faced problems with cosmetic counterfeits. With the launch of the new product, Four Carat Pout, Clark needed to decide whether to pursue patents, copyrights, and/or trademarks for various aspects of the new product. The case focuses on the interplay between marketing strategies and intellectual property issues in international fashion products.

Who Broke the Bank of England?

Ferguson, Niall, and Jonathan Schlefer
September 2009

In the summer of 1992, hedge fund manager George Soros was contemplating the possibility that the European Exchange Rate Mechanism (ERM) would break down. Designed to pave the way for a full-scale European Monetary Union, the ERM was a system of fixed exchange rates linking together twelve members of the European Union, including Britain, France, Germany, and Italy. However, the impact of German reunification after 1989 had created significant strains within the system. Moreover, financial deregulation and the growth of cross-border flows of "hot" money increased the likelihood that a speculative attack on one or more ERM currencies might succeed. Soros had to decide which currencies to bet against. The Italian lira? The British pound? The French franc? Or all three? The result could determine the success or failure of the project for a single European currency.

Spain: Can the House Resist the Storm?

Comin, Diego
August 2009

On September 16, 2008, President Rodriguez Zapatero recognized the severity of Spain's macroeconomic situation and clearly pointed to the culprit in front of the Spanish Congress: "Let nobody doubt it; there is already a wide consensus about the origin of the crisis: [It is] in the U.S. and its subprime mortgages." During the last eight years, Spain had gone through a phenomenal expansion that has had many important ingredients: immigration, housing boom, banking and financial market regulation, current account deficit, and productivity growth. This case analyzes how they interacted during the period 2000-2007 and what drove the Spanish recession in 2008.

Christian Dior: A New Look for Haute Couture

Jones, Geoffrey G., and Veronique Pouillard
August 2009

The case describes the foundation of Christian Dior, the leading Parisian fashion house, in 1946 and its subsequent globalization strategy. After explaining the historical origins of France's preeminence in upscale fashion, the case explores the challenges to this position from New York after World War 2, and the importance of Christian Dior's New Look in restoring French fashion to world leadership. The case examines, in particular, Dior's innovative strategy to combine a high-fashion business in Paris with a ready-to-wear business in New York, and his subsequent pursuit of licensing opportunities in jewelry and other luxury products. The case provides an opportunity to explore the role of creativity in the luxury fashion industry, and the challenges and opportunities of globalizing such an industry.

Alacra, Inc.

Applegate, Lynda M., and Aldo Sesia Jr.
August 2009

Description: In 2009, the CEO of Alacra, a venture-backed information services firm that provides customized data primarily to financial services firms, must decide how to respond to the global economic crisis.

Geographical Indications: I Say 'Kalamata,' the EU Says 'Black Olive' (A)

Pozen, Robert C., and Ani Satchcroft
July 2009

In April 2005, Alexandra was the owner of an Australian farm that produced olives, including Kalamata table olives. Alexandra had invested in the expansion of her farm in anticipation of the evolution of her market from domestic trade in Australia to international export. There was, however, a disruptive dispute before a WTO tribunal between Australia and the EU regarding the protection of Geographical Indications (GIs), which identify a product's origins and are treated as trademarks in some respects by international trade rules. Though Alexandra prepared her Kalamata olives in the traditional Kalamata technique, her use of the regionally specific name was threatened by the intellectual property rights provided by GIs. The case focuses on what should be the legal outcome of the WTO dispute, as well as possible business strategies by Alexandra in the event of an adverse outcome to Australia.

Geographical Indications: I Say 'Kalamata,' the EU Says 'Black Olive' (B)

Pozen, Robert C., and Ani Satchcroft
July 2009

Supplements the (A) case

Philips versus Matsushita: Competing Strategic and Organizational Choices

Bartlett, Christopher A
July 2009

Traces the evolving competition between two major multinationals over 40 years. Different strategic postures are reflected-and embedded-in different organizational postures. In 2009 the CEOs of both companies face new global strategic and organizational choices.

The DiagnoFirst Opportunity

Pozen, Robert C., Rukmini Balu
July 2009

John Mason, a principle at Oldwell Partners, was facing a decision of whether or not to invest in DiagnoFirst, a molecular diagnostics firm. DiagnoFirst's key product was a genetic test that identified a subset of prostate cancer patients with a high risk of clinical progression and death. DiagnoFirst had applied for patents, in both the U.S. and EU, for the sequence of 40 genes, the new methodology for gene amplification, and the specific mechanics of the genetic tests. Mason's decision to invest in DiagnoFirst was based in part on the likelihood of obtaining patents and in part on the projected cash flows of the business under various scenarios. This case examines issues of intellectual property in science, international differences in patent law, and the decision-making process of venture capital in biotechnology deals.

Denmark: Globalization and the Welfare State

Daemmrich, Arthur A, and Benjamin Kramarz
July 2009

This case describes how Denmark has balanced the impacts of globalization, including outsourcing and movement of labor, with its social welfare offerings. Reforms implemented during the past two decades drove down unemployment, promoted new company formation, and put the country at or near the top of international polls on the ease of doing business. The case describes how Danes forged a consensus that embraced international trade and outsourcing while supporting continuous upgrading of workplace skills. In April 2009, the new Prime Minister, Lars Løkke Rasmussen, is balancing short-term responses to a global recession against longer-term planning for the Danish labor market and macroeconomy. Can Denmark keep its borders open to the free movement of goods, services, and labor while also sustaining the breadth of its welfare offerings?

Executive Remuneration at Royal Dutch Shell (A)

Lorsch, Jay W., and Kaitlyn Simpson
July 2009

The remuneration committee at Shell decided to exercise their discretionary power to award five top executives a bonus for 2008, even though they had not met the necessary performance measures under the compensation plan. Proxy advisors RiskMetrics and the British Association of Insurers advise their clients to vote against the plan at the upcoming 2009 annual meeting. The Shell remuneration committee wonders how the shareholders will react.

Executive Remuneration at Royal Dutch Shell (B)

Lorsch, Jay W, and Kaitlyn Simpson
July 2009

At the 2009 Shell annual meeting, the majority of shareholders vote against the exclusive pay package. The B case compares the remuneration committee perspective (and their rationale for using discretion to award the bonuses) as well as the shareholder perspective (and their rationale for reacting so strongly against the pay package).

Actis: January 2008

Hardymon, Felda G., Josh Lerner and Ann Leamon
July 2009

Paul Feltcher, the CEO of Actis, a leading private equity investor in emerging markets, is preparing for an executive retreat at which the management team will consider how best to position the firm for the future. Actis could move in a number of different directions by expanding into new geographies, asset classes, or deal sizes. Choices made along these dimensions all have different implications for the degree of cohesion between the regions and the headquarters in London, the types of funds the firm will raise, and the skills required of employees. One of the final challenges is whether Actis, which has produced a very good track record, even needs to change its business model at this point.

Moods of Norway

Austin, Robert D., Shannon O'Donnell, and Dorte Krogh
July 2009

Describes a young fashion company competing in a variety of unconventional ways, many "experience economy" related. Moods fronts their brand with the "boy band" images of its three founders and designs eccentric features into their clothes as a way of gaining mindshare among customers even though they cannot spend on marketing the way their competitors do. The case invites students to explore an unusual business model in both concept and execution.

Symbian, Google & Apple in the Mobile Space (A)

Edelman, Benjamin G., Fernando Suarez and Arati Srinivasan
May 2009

Symbian, maker of a leading mobile smartphone operating system, faces new competition from Google and Apple. Symbian evaluates changes to its software and its relationships with distributors in order to meet these competitors.

Symbian, Google & Apple in the Mobile Space (B)

Edelman, Benjamin G., Fernando Suarez and Arati Srinivasan
May 2009

Supplements the (A) case

Note: Restructuring Distressed Companies-Cross National Comparisons

Fruhan, William E. Jr.
May 2009

This note briefly describes bankruptcy regimes and out-of-court restructuring in five countries: the U.S., the U.K., Germany, France, and Japan.

Brummer and the bracNet Investment

Ebrahim, Alnoor, Michael Pirson, and Patricia Mangas
May 2009

bracNet, a for-profit/nonprofit partnership, aims to establish Internet connectivity throughout Bangladesh. Venture capitalist Patrik Brummer invested in a first round of funding to connect major cities. Should he invest again, this time in a rural roll-out, which may have lower financial returns but greater social returns?

Sanctuary Soft, Inc.

Groysberg, Boris, Geoff Eckman Marietta, Tim Marshal, and Adam Hartley
May 2009

A U.S.-based security software company considers its options to expand. Different labor-market and labor-law situations are analyzed for the U.S., U.K., Germany, China, and India.

Supply Chain Optimization at Hugo Boss (A)

Raman, Ananth, Nicole DeHoratius, and Zahra Kanji
May 2009

We evaluate the impact of a supply chain pilot implemented at Hugo Boss. This pilot entailed altering the way in which Hugo Boss orders from its suppliers. We explore the challenge of assessing the impact of supply chain change, the link between operational performance and firm performance, and the relationship between sales, inventory, and product availability.

Supply Chain Optimization at Hugo Boss (B)-The M Ratio

Raman, Ananth, Nicole DeHoratius, and Zahra Kanji
May 2009

We evaluate the impact of a supply chain pilot implemented at Hugo Boss. This pilot entailed altering the way in which Hugo Boss orders from its suppliers. We explore the challenge of assessing the impact of supply chain change, the link between operational performance and firm performance, and the relationship between sales, inventory, and product availability.

Generation Investment Management

Sucher, Sandra, J., Daniela Beyersdorfer, and Ane Damgaard Jensen
May 2009

Examines the investment process of Generation Investment Management, a "sustainable" investing firm established in 2004 by David Blood and U.S. Vice President Al Gore. Places students in the position of David Lowish, director of global industrials, who must decide whether to recommend an investment in ABB India. The decision pits economic development-supplying energy to impoverished rural areas in India, against environmental damage-caused by the use of coal-fired power plants.

Addleshaw Goddard LLP

Eccles, Robert, G., Amy C. Edmondson, James Weber
April 2009

Addleshaw-Goddard (AG), the 15th largest law firm in the U.K., is seeking ways to serve larger clients on more important legal matters. Part of this strategy involves its "Client Development Centre (CDC)," an innovative idea and set of services launched by Dr. Jim Hever who holds a Ph.D. in Strategic Leadership Development. The mission of the CDC is to improve the capabilities of clients' in-house legal departments, such as by making them better partners with the business units and improving their leadership skills. The CDC has adopted an innovative pricing structure. Rather than charging direct fees for these consulting services, it proposed to the client that it contract with the firm for five times this amount in legal fees that might otherwise have gone to another law firm. It is in this way that AG hopes to increase its position in its larger clients. AG has also developed a very systematic program for identifying and serving its key clients, developed in collaboration with Cranfield School of Management. It is these clients that will be the focus of the efforts for the CDC. In addition, the firm has co-developed a training program with Cranfield to improve the skills of its own partners. The case explores whether these initiatives will lead to a long-term competitive advantage. The firm believes what really will produce competitive advantage is its "Me-To-You-Mindset" initiative that encourages partners to look at the world through their clients' eyes. At the end of the case Hever is reflecting on a proposal he submitted for providing CDC services to one of the largest U.K. companies. The general counsel wants to pay for these services in cash should he decide to accept the proposal, rather than hiring AG for more legal work. Hever is wondering if this is a good way to take advantage of recent reforms allowing law firms to provide other professional services, like consulting, or if this is "off-strategy" for the mission of the CDC.

Orange: Read&Go

Eisenmann, Thomas, Toby Stuart, Bhaskar Chakravorti, Vincent Dessain, Simon Harrow, and Elena Corsi
April 2009

In late 2008, Orange (aka France Telecom) must decide if launching Read&Go, an electronic newsstand built around an e-paper reader, would be successful. The case describes (1) Orange's strategy; (2) the company's new product development process; (3) e-paper technology, which simulates the appearance of printed paper on a screen; (4) consumer demand for e-paper services; (5) potential competitors, including Amazon's Kindle; (6) business model options for Orange's service; and (7) the reactions of French newspapers-crucial content partners-to Orange's proposal.

Putting Sparkle into Soda-Club's European Partnerships

Isenberg, Daniel J.
April 2009

Daniel Birnbaum, new CEO of Soda-Club, has taken charge of a company with significant market penetration, brand equity, and revenues in certain European markets. The company is also plagued with hostile relationships with major distributors. He needs to decide how to turn the situation around and create opportunity out of crisis.

SAP AG: Orchestrating the Ecosystem

Iansiti, Marco,
Lakhani, Karim R.,
April 2009

Business ecosystems require careful orchestration and strategic choices regarding make/buy/partner decisions and membership access. This case examines the strategic and technological issues related to managing SAP's thriving ecosystem of user communities, software vendors, integration partners, and technology providers. It details how the ecosystem gets developed and the challenges in meeting the needs of the internal organization, large partners, and small up-and-coming firms. SAP executives, in this case, have to make a decision if a relatively small startup firm should be elevated to the highest strategic partnership level, normally reserved for very large firms.

UBS and Auction Rate Securities (A)

Daniel Baird Bergstresser, Shawn Cole, Shinai Siddharth
April 2009

UBS, a global financial services company, must decide whether to continue to support the market for Auction Rate Securities in the face of a growing financial crisis. These instruments, underwritten by UBS, were marketed to clients as highly liquid and safe alternatives to cash. UBS' decision becomes urgent when Citigroup, another leading underwriter of ARS, decides to let their auctions fail, leaving clients with illiquid assets of uncertain value. The case explores theoretical and practical aspects of liquidity risk, and challenges students to evaluate the benefits of honoring implicit commitments to customers against the costs of acquiring billions of dollars in illiquid assets. The (B) and (C) cases consider the implications of UBS decision

UBS and Auction Rate Securities (B)

Daniel Baird Bergstresser, Shawn Cole, Shinai Siddharth
April 2009

Supplement to the (A) case

UBS and Auction Rate Securities (C)

Daniel Baird Bergstresser, Shawn Cole, Shinai Siddharth
April 2009

Supplement to the (A) case

Gucci Group in 2009

Yoffie, David, Renee Kim
April 2009

The Gucci Group had transformed itself into the world's third largest luxury retailer with multiple brands. The company had performed well even after the departure of star designer Tom Ford and former CEO Domenico De Sole. However, the challenging global economic times in 2009 raised the question whether it was time, again, to re-adjust Gucci's portfolio, especially as YSL continued to lose money.

Financial Management of Family and Closely Held Firms: Overview of the Course

Villalonga, Belen
April 2009

Most companies around the world are controlled by their founding families, including more than half of all public corporations in the U.S. and Europe and more than two thirds of those in Asia. These companies are the subject of the Financial Management of Family and Closely Held Firms course, an elective MBA course at Harvard Business School. The course introduces students to the unique finance, governance, and management issues faced by family firms and to the ways in which these issues can be addressed. The course provides students with a framework for analyzing how family ownership, control, and management affect value and whether and how more value can be created for the various stakeholders in family firms. The course is designed for students who may be involved with these companies in a variety of roles, including those of founders, shareholders, or managers of their own family's firm, as well as those of non-family managers and employees, investors or business partners (e.g., private equity investors), and advisors of various kinds (e.g., investment bankers, board members, or consultants).

South Pole Carbon Asset Management-Going for Gold?

Reinhardt, Forest, L., Jost Hamschmidt, Mikell Hyman
April 2009

In late 2008, Christoph Sutter, CEO of South Pole Carbon Asset Management, reflects on his firm's early success at originating carbon credits in developing nations and selling them to governments and firms that seek to offset their greenhouse gas emissions voluntarily or to fulfill regulatory obligations. South Pole's early strategy has focused on being a first mover in the niche market for premium quality carbon credits. But as the market evolves in the face of significant policy uncertainty, Sutter wonders what South Pole's strategy should be for the future. This case study can facilitate discussions about environmental markets, about opportunities for entrepreneurship raised by new environmental regulations, and about challenges in markets for tradable pollution permits.

VOSS Artesian Water from Norway

Moon, Youngme E., Gail McGovern, Daniela Beyersdorfer and Vincent Dessain
April 2009

VOSS is a Norwegian bottled water company that produces one of the world's purest drinking waters, sold at an ultra-premium price in a sleek cylindrical glass bottle of minimalist design. In the U.S. (the company's primary market), VOSS's high-end brand presence is strongest in on-premise locations-specifically, top-of-the-line restaurants, hotels, and clubs. The brand has only recently begun penetrating the off-premise channel. In June 2007, Ole Christian Sandberg, VOSS's founder and head of U.S. operations, is considering how to grow the brand. The key question is whether VOSS should increase its distribution in the off-premise channel. Will this diminish VOSS's high-end brand cachet? A related question is whether VOSS should begin expanding its portfolio by offering, for example, flavored water for the rapidly evolving U.S. bottled water market.

Targanta Therapeutics: Hitting a Moving Target

Daemmrich, Arthur A.,
April 2009

This case explores regulatory, product testing, and business strategy at Targanta Therapeutics, a biotech company preparing its first new drug application to the FDA. In October 2007, Mark Leuchtenberger, president and CEO of Targanta-which has just held a successful IPO-weighs options for the approximately ten-month review period after the company submits to the Food and Drug Administration. The case reviews Targanta's origins and "de-risking" of oritavancin, an antibiotic therapy for drug-resistant infections that was first invented at Eli Lilly and then spun out to InterMune before Targanta acquired it in late 2005. To highlight the impact of regulatory policy on business strategy, the case then describes a set of choices facing the firm, including staffing a marketing and sales group, carrying out additional clinical testing to expand the approved indications, applying for European market approval, or keeping funds in reserve in the event that the FDA requests further data.

Neck & Neck: Leveraging the Club Neck Information

Martinez-Jerez, Francisco de Asis, Jasmijn Bol, Christopher Ittner, Katherine Miller
April 2009

Commercial Director Prado wonders how to leverage the loyalty card information to prepare the fall 2008 budget. The case discusses the value of subjective and objective information for profit-planning purposes. Spanish children's apparel retailer Neck & Neck uses loyalty card information for tactical purposes, such as promotional campaigns. Its management team is thinking about how to incorporate that information to the budgeting (profit-planning) process. From an analytical standpoint the case looks at the surprising results of a mailing campaign that reveals the consequences of inadequate updating of the customer database. Also, the budgeting data in the case may be used to teach regression model selection and R-squared.

Groupe Eurotunnel S.A. (A)

Gilson, Stuart C., Vincent Dessain, Sarah Abbott
April 2009

In the summer of 2006, the chairman and CEO of Eurotunnel Group is faced with the decision whether to file for bankruptcy protection, after having failed to gain creditor approval of an ambitious out-of-court restructuring plan. The company, which has been attempting to restructure its debt and operations for the last ten years, faces a number of daunting challenges. Eurotunnel is jointly listed in the U.K. and France, and its shareholders, who are largely based in France, face the prospect of significant dilution under any restructuring plan. The current chairman and CEO has been with the company for only a year and a half, following a decade of senior management turbulence in which the company has seen nine different CEOs and chairmen. Eurotunnel's capital structure is staggeringly complex, and a large fraction of its debt has come to be held by U.S.-based hedge funds that specialize in investing in distressed companies. Finally, Eurotunnel's business is extremely challenging to value and is faced with significant competition. If the current chairman/CEO decides to file for bankruptcy, he faces the additional choice of whether to file for bankruptcy in the U.K. or in France, which take quite different approaches to restructuring troubled companies.

Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde

Gilson, Stuart C., Dessain Vincent, Sarah Abbott
April 2009

In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they face significant dilution of their ownership interests in Eurotunnel. If the vote fails to pass, the possibility that the company may have to be liquidated becomes increasingly likely.

Perfect Storm over Zurich Airport (A)

Tushman, Michael L., and David Kiron
March 2009

Josef Felder, CEO of Zurich Airport, faces several crises as he tries to transform the Airport from a slow-moving, conflict-ridden, government-owned entity into a privatized, world-class airport.

Perfect Storm over Zurich Airport (B)

Tushman, Michael L., and David Kiron
March 2009

Supplements the (A) case

Solvay Group: International Mobility and Managing Expatriates

Groysberg, Boris, Nitin Nohria, and Kerry Herman
March 2009

Marcel Lorent, head of International Mobility at Brussels-based Solvay Group, faces decisions on the expatriation status of four of his firm's talented executives. Each decision will impact the candidate's professional and personal life and will have implications for effective management and growth in Solvay's global markets. The case explores these issues, with a close look at Solvay's attempts to develop talent management and mobility processes that allow the firm to align its strategic needs with the complexities of its individual employees' needs and lives.

One Firm One Future at Davis Langdon

Eccles, Robert G., and Kaitlyn Simpson
March 2009

Rob Smith, senior partner of construction consultancy Davis Langdon, has just led the firm through a major organizational change in Europe and the Middle East. In the past, the firm's compensation arrangements did not encourage partners to collaborate across the firm to serve clients' increasingly global and complex needs. In 2007, under Smith's leadership, the partnership agreed to implement holistic change, which included shifting from geographical to sector structure and creating a profit-sharing system that rewarded more than just financial contribution and encouraged partners to work together for the benefit of the firm as a whole. In the midst of the global economic crisis, Smith must decide whether and how to extend on a global basis the alignment the firm achieved in Europe and the Middle East.

GLOBALGAP: Food Safety and Private Standards

Bell, David E., and Mary Shelman
February 2009

In response to new laws governing liability and several food safety scares in the 1990s, European retailers drove the creation of a universal production standard based on Good Agricultural Practices (GAP) for fresh fruit and vegetables and a third-party certification system to monitor compliance. By 2008, the GLOBALGAP standard had expanded to cover coffee, tea, livestock, and aquaculture. Over 90,000 producers in 87 countries had been certified. Looking ahead, GLOBALGAP's board and management were discussing a number of questions, including the following: should GAP include environmental and social aspects beyond food safety; what was GLOBALGAP's role outside of Europe; and how GLOBALGAP is a 'hidden asset' compared to ethical labels such as Fair Trade.

Marks and Spencer: Plan A

Bell, David E., Nitin Sanghavi, and Laura Winig
February 2009

Marks & Spencer initiated a comprehensive approach to sustainability (reduction of waste, carbon emissions, fair trade) called Plan A. Does it offer a competitive advantage?

Altoona State Investment Board: December 2008

Lerner, Josh
February 2009

Rod Calhoun, the head of the Altoona State Investment Board's private equity investment program, considered the communication he had just received. It was from Permira, the leading European buyout fund, and concerned its fourth fund, to which Altoona had made a $100 million commitment. The memorandum offered investors a chance to reduce their commitment to Permira IV. This potential offer was an attractive one, as it would allow the state pension to address its "over-commitment problem," one that plagued many institutional investors. But the terms of the arrangement gave Calhoun pause.

Columbus Tubing: Steel Is Real

Snow, Daniel C., Gary P. Pisano, Elena Corsi, and Gudrun Urfalino Kristinsdottir.
February 2009

Columbus Tubing must choose to improve an old technology (steel) or to develop a new material (carbon fiber). The decision must take into account a complicated context: increased demand for the "old" steel products made in Italy, increasing power of carbon fiber manufacturing partners in Asia, growing wage rates in Asia, and high wage rates in Italy. Two plans have been presented to the CEO, Antonio Colombo. The first is to push development of all of the company's technologies, perhaps even seeking new markets for them. The second is to rationalize operations and to redirect R&D resources to marketing of stylish, lower-tech bicycles. The company's future hangs in the balance.

a-connect: In Search of Talent Partners

Eccles, Robert G., and Dilyana Karadzhova
February 2009

a-connect was started in 2002 by three former McKinsey partners who wanted to develop an alternative business model consulting firm, which they have positioned as a high-end staffing company. The company has been very successful, growing to revenues of CHF 30 million with offices in Zürich, Düsseldorf, Boston, San Francisco, Hong Kong, and Singapore. Instead of hiring full-time employees, the company uses a pool of 700 independent professionals (IP) who are typically former consultants from firms like Bain, BCG, and McKinsey. These professionals are managed by Talent Partners who match up IPs with client needs. One of the biggest challenges the firm faces is finding people who can fill this Talent Partner role since it requires a wide range of interpersonal and business development skills. As a way of instilling discipline in processes and procedures, from the very beginning the company set the objective of doing an IPO as a staffing company, thereby hoping to get the multiple of that category. Achieving this will require substantial growth in order to get to revenues of CHF 100 million, which they think is the size they need to be. Through the "Crystal Initiative" the company reviewed the three strategic choices of leveraging the operating platform, expanding the service portfolio, and focusing on the Global Silver. They chose the latter, which means they decided to focus on getting deeper penetration into their existing large accounts. At the end of the case the founders are wondering if an IPO is still the right thing to do.

Note on Medical Travel

Herzlinger, Regina E., and Sara Green
January 2009

Background notes for MedVal and Fortis case studies.

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2008

Hrad Technika

Upton, David M, and Bradley R. Staats
December 2008

Examines a struggling IT outsourcing project from the perspective of the IT services provider-Hrad Technika. When used in conjunction with "Tegan c.c.c." (9-609-038), it provides an opportunity to see both sides of the issue. When Hrad enters into a contract to create a new accounts payable system for Welsh toy distributor, Tegan, the outsourcing firm from the Czech Republic views the project as another step in its progression towards delivering higher value services. Unfortunately the project goes poorly, and Hrad is left with the decision of how to rescue the relationship and avoid a similar problem in the future. The case allows the examination of how to manage an outsourcing project and permits a general discussion about IT outsourcing.

Tegan c.c.c.

Upton, David M., and Bradley R. Staats
December 2008

Examines a struggling IT outsourcing project from the perspective of the customer-Tegan. It should be used in conjunction with "Hrad Technika" (9-609-039), which illustrates the supplier's point of view. When Tegan, a Welsh toy distributor, outsources the development of a new accounts payable system to Hrad Technika, a growing outsourcing firm from the Czech Republic, Tegan believes they are getting a problem off their hands. Unfortunately the project goes poorly, and Tegan is left with the decision of how to prevent a failure in accounts payable from halting the entire company's operations. The case allows the examination of how to manage an outsourcing project and permits a general discussion about IT outsourcing.

Finland's S Group: Competing with a Cooperative Approach to Retail

Casadesus-Masanell, Ramon, Tarun Khanna, Samuli Skurnik, and Jordan Mitchell
December 2008

The case looks at the two dominant Finnish retailers: S Group and Kesko. S Group is a customer-owned cooperative, which has a unique holding structure whereby 1.7 million residents (or 70 percent of Finnish households) own 22 regional cooperatives. In turn, the regional cooperatives own SOK, a centralized company that provides services to the regional cooperatives. Throughout the 1980s and 1990s, S Group lagged far behind the market leader, Kesko. However, since 2005, S Group has held the leadership position; in 2007, it had captured 41 percent market while Kesko's was 33.9 percent. Kesko Plc is publicly traded and pursues a model whereby retailer entrepreneurs use their personal funds to invest in stores and operate them completely. The case requires that students consider sources of competitive advantage that arise from the companies' markedly different business models.

Nestlé in 2008

Bell, David E., and Mary Shelman
December 2008

In April 2008, Paul Bulcke took over as CEO of the world's largest food and beverage company. His predecessor, Peter Brabeck, had delivered 12 years of outstanding results while moving the company toward a new vision of health, nutrition, and wellness. Bulcke's challenge was to swiftly execute the vision and deliver the organic growth and improved margins necessary to meet the "Nestlé model."

BMW's Project Switch (A): Importers vs. National Sales Companies

Narayandas, Das, and Kerry Herman
October 2008

BMW is faced with potential channel conflicts across several EU country markets. The case highlights BMW's approach to redesigning its channel in Greece. The case provides details on both headquarter and country head perspective on BMW's channel strategy.

BMW's Project Switch (B): Importers vs. National Sales Companies

Narayandas, Das, Kerry Herman, and Laura Winig
December 2008

BMW is faced with potential channel conflicts across several EU country markets. The case concludes the (A) case's exploration of BMW's approach to redesigning the channel in Greece. The case provides details on both headquarter and country head perspective on BMW's channel strategy.

Clifford Chance: Repotting the Tree

Segel, Arthur I., A. Eugene Kohn, and Nhat Nguyen
December 2008

Clifford Chance, LLP, a global law firm headquartered in London, needs to make a decision whether to stay in the central business district of London or move to a redeveloped business park at Canary Wharf, three miles outside of central London. Peter Charleton, head of the London Office, is proposing to move to Canary Wharf and building a single, landmark headquarters with all the necessary amenities and premium fit-outs that are appropriate for an elite law firm. The tension surrounding the case is the choice to move from the hub of commerce in central London to a relatively obscure site whose owners (Olympia & York) have a history of financial bankruptcy. What business elements (clients, operations, employees, etc.) should they consider if they move the firm and how much relative weight do they place on each element? How do they frame the advantages and disadvantages between central London and Canary Wharf? What type of items should they program into the new facility (cellular or open floor plans, ceiling heights, common space, dining facilities, gymnasiums, etc.)? How should they prioritize these items?

Copyright Law in the U.S. and EU

Pozen, Robert C., and Elizabeth M. Leonard
November 2008

This note reviews the basic rules for copyright protection in both the U.S. and the EU. It outlines the works and rights protected, the fair use and first-sale limitations on copyright, as well as the application of these rules to software, video, recordings, and Internet service providers.

The Amsterdam World Trade Center

Kohn, A. Eugene, Hans van Tartwijk, Nhat Nguyen, Brent Kazan, and David Lane
November 2008

Late in September 2001, Hans van Tartwijk, president of Trimp & van Tartwijk Property Development (TvT) of Amsterdam, Holland, was deeply worried about the status of his largest ongoing project: the Amsterdam World Trade Center (WTC). As the discretionary developer, van Tartwijk needed to present his firm's recommendations to WTC owners and municipal stakeholders on how best to manage problems in the renovation of the 27-floor, 60,000 square meter complex. The WTC owners, two Dutch financial institutions, had hired TvT in 1995 to advise how to best handle their property's underperformance, which stood 20% empty and had prematurely aged. 1. Should the Owners sell, perform minimum upgrades, or perform a major upgrade with construction and expansion? 2. What emphasis-commitment made to Green Technologies?

Iceland (A)

Musacchio, Aldo
October 2008

In May of 2008, a team of sovereign debt analysts at Moody's had to decide whether to downgrade the country's sovereign long-term debt from Aaa to Aa1 or lower. Investor sentiment toward Iceland had changed radically in March, and the Moody's team was fearful that the situation could spiral out of control. The Moody's team knew that carry traders increased Iceland's vulnerability to a confidence crisis because they were quick to liquidate their holdings at the first sign of distress. The plunge in the Icelandic Krona since the beginning of 2008 also forced the Icelandic people to confront a decision: would joining the European Union (EU) protect Iceland from capricious swings in investor sentiment? What, if anything, should Iceland do to avoid a future crisis?

Iceland (B): Redefining Aaa-Rated Sovereigns

Musacchio, Aldo
October 2008

Supplement to the (A) case

Dogus Group: Weighing Partners for Garanti Bank

Khanna, Tarun, Krishna G. Palepu, and Richard J. Bullock
October 2008

In August 2005, the leadership of Turkey's Dogus Group considered opportunities for its flagship enterprise, Garanti Bank, to partner with a foreign financial institution. The case describes the Turkish banking industry and Garanti Bank's position within it, and asks students to consider whether partnership makes sense for Garanti and, if so, which bidder it should select.

Betfair vs. UK Bookmakers

Casadesus-Masanell, Ramon, and Neil Campbell
October 2008

Betting exchanges provide an electronic platform that allows ordinary consumers to not only back teams to win, but also to lay odds for other punters to back. This business model allows punters to cut out the middleman of the bookmaker and leads to a much more efficient two-sided market. Betfair.com's domination of the betting exchange has threatened to undermine the core of the traditional bookmakers' business model. The case examines two aspects of the industry: (1) What specific choices did Betfair make to become the dominant betting exchange, winning the competitive battle over Flutter.com? (2) At what stages do Betfair.com's business model and those of the bookmakers interact? Will Betfair.com naturally come to dominate the industry, and if so how should the bookmakers react?

Gazprom (A): Energy and Strategy in Russian History

Abdelal, Rawi, Sogomon Tarontsi, and Alexander Jorov
October 2008

Critics have accused Gazprom, the world's largest natural gas producer, of eschewing market principles in favor of the foreign policy priorities of the Russian government, ever since the energy giant cut off the supply to Ukraine in January of 2006. The purported motive for the decision, however, seems to indicate the opposite: the company claimed that it had no other choice because the sides failed to conclude a contract on the terms of future trade. The case takes a look back in history for clues that may resolve this paradox. It highlights how politics shaped the economics of natural gas trade in the former Soviet Union and Europe since the late 1960s until the end of the 1990s; sketches the story of the creation of Gazprom by the first post-Soviet government of Russia; and describes how the erection of new sovereign borders in the wake of the dissolution of the Soviet Union, coupled with political and economic transition, created major problems in the gas trade between the former Soviet republics, emerging with the greatest intensity in the Russian-Ukrainian relations.

Gazprom (B): Energy and Strategy in a New Era

Abdelal, Rawi, Sogomon Tarontsi, and Alexander Jorov
October 2008

President Putin publicly stated that Gazprom, the largest natural gas producer in the world, was a powerful political lever of the Russian state in the world and a keystone in the foundation of the country's energy security. Thus the top leadership of Russia has charted the course of the company's future away from the seemingly imminent dismemberment, privatization, and, by implication, de-monopolization toward a challenging combination of strengthened state control, professional, transparent management, and a major expansion. The case explores how in 2000-2008 Gazprom's management has pursued the strategy defined by the politicians. Gazprom's impressive expansion strategy envisioned diversification of markets, products, transportation routes, and modes of delivery. The challenges were equally formidable: massive investment needs, a possibility of a production shortfall, and a chronic problem with the transit state of Ukraine, to name a few. In fact, Gazprom's ambitiousness fully reflected the ambitiousness of Russia as a whole, characteristic of the Putin era.

Gazprom (C): The Ukrainian Crisis and Its Aftermath

Abdelal, Rawi, Sogomon Tarontsi, and Alexander Jorov
October 2008

The case describes the resolution to the January 2006 gas crisis, precipitated by the decision of Gazprom, the largest natural gas producer in the world, to cut off gas supply to Ukraine because of disagreement on the terms of future trade. The case also narrates the events that have followed: the adoption by Gazprom of a comprehensive policy to renegotiate prices with the rest of the former Soviet states; the erratic relationship with Ukraine, dependent on the internal political configuration in the latter at any given time; and a persistence of Gazprom's negative image in the world.

Supergrid

Vietor, Richard H.K.
October 2008

Supergrid is a mammoth wind-power development scheme for Europe, recently proposed by Airtricity. This firm, founded in 1997, is a fast-growing power-development company focused on wind. Already having built about 600 megawatts of wind turbines in Scotland and Ireland, Airtricity has now expanded to the United States. But its "Supergrid" proposal, to build offshore wind turbines with capacity of 30,000 megawatts of power, would change the face of European energy networks, use new technology, and help several European countries meet their Kyoto targets for reducing CO2. The issues are whether a small company like Airtricity has the human and capital resources to pull this off, and whether the U.K., Germany, the Netherlands, and the EU can be made to cooperate on such a project.

Global Talent Management at Novartis

Siegel, Jordan
September 2008

This case tackles the topic of global talent management. It can be used to analyze the performance measurement, incentive, and talent development system used at a major multinational company. This case can also be used to analyze the extent to which this system should or should not be adapted for China and other emerging economies.

Leading Citigroup (A)

Paine, Lynn Sharp, Aldo Sesia Jr., and Carin-Isabel Knoop
September 2008

The (A) case describes a series of controversial events and alleged misdeeds that placed Citigroup in the public spotlight and launched investigations into the company's business practices by regulators in Japan and Europe in the fall of 2004. CEO Chuck Prince must decide what to do to right the company and restore its reputation.

Leading Citigroup (B)

Paine, Lynn Sharp, Aldo Sesia Jr., and Carin-Isabel Knoop
September 2008

The (B) case describes the actions taken by Citigroup CEO Chuck Prince and his management team to right the company in the wake of the controversies and alleged misdeeds described in the (A) case.

North Goes East

Retsinas, Nicolas P., Daniela Beyersdorfer, and Elena Corsi
September 2008

In August 2006, Magnus Lofgren and Robert Provine, managing directors and co-founders of the "North Real Estate Opportunities Fund," need to decide which real estate investment the Fund should pursue as its first project. The Fund's target region, Central and Eastern Europe, was changing rapidly and returns in some of the more developed regions started to resemble those generated in Western Europe. Yet, the two partners had managed to identify several projects in different countries that promised to generate the Fund's targeted Internal Rates of Return at or above 20% annually. They now had to decide which opportunity was the best match to the Fund's investment profile and showed the highest economic promise.

Arcelik Home Appliances: International Expansion Strategy

Ghemawat, Pankaj, and Catherine Thomas
September 2008

The Turkish home appliances firm Arcelik is revisiting its growth strategy. Options for growth include continuing to promote currently owned brands in international markets, acquiring new brands, expanding OEM or private-label contracts, and/or diversifying into other businesses within Turkey. Details Arcelik's position within various markets and relevant features of the home appliances industry.

Launching Telmore (A)

Casadesus-Masanell, Ramon, Celso Fernandez, and Moritz Jobke
September 2008

When the Danish mobile phone service provider Telmore entered the market in October 2000, few people took notice. Its business model was not perceived as particularly aggressive or threatening to the industry. Less than three years later, Telmore's creative adaptation of the well-known, no-frills model of the airline industry had taken the Danish market by storm. With a combination of rock-bottom prices, simplicity, and a focus on customer satisfaction backed by a unique low-cost infrastructure, Telmore's business model, with its powerful virtuous cycles, proved to be the most successful innovation the industry had seen in many years.

Launching Telmore (B)

Shih, Willy
September 2008

Supplement to the (A) case

Launching Telmore (C)

Shih, Willy
September 2008

Supplement to the (A) case

elBulli: The Taste of Innovation

Norton, Michael, Julian Villanueva, and Luc Wathieu
September 2008

Ferran Adriá, chef at elBulli, the highest-ranked restaurant in the world for two consecutive years, faces two related decisions. First, Adriá and his team must continue to develop new and different dishes for the ground-breaking cuisine at elBulli to guarantee a continuous stream of innovation, the cornerstone of the restaurant's success. In addition, they are also faced with the challenge of growing the business, exploring whether the core concepts from elBulli- this "taste of innovation"-can be applied to domains ranging from consulting to fast food. The case walks readers through an evening at elBulli by using the rave reviews of former patrons to capture the full experience, from the long trip required to get to the restaurant, to the tour, to descriptions of the meal itself.

AREVA T&D

Raman, Ananth, Vincent Marie Dessain, Ane Damgaard Jensen, and Gudrun Urfalino Kristinsdottir
September 2008

The case explores the rapid and highly effective turnaround at AREVA's transmission and distribution (T&D) business by focusing on the division's operations. The division was struggling in 2004 when newly-appointed CEO Philippe Guillemot and his team improved performance substantially by focusing on four levers- industrial footprint realignment, competitive sourcing, process efficiency, and a competitive product offering. In 2008, the case challenges students to identify the best path forward. How can the progress achieved from 2004 to 2007 be sustained? AREVA T&D hopes to surpass ABB and Siemens in sales and profitability by focusing on superior product offerings, through "customer intimacy" (e.g., involving customers in new product development) and developing a reputation for environmentally friendly behavior. What is the role of operations management in this context?

AMD Dresden: Copy Inexactly!

Shih, Willy
September 2008

The establishment and growth of AMD's Dresden, Germany manufacturing site illustrates how processes develop in an organization and how those processes get institutionalized into a unique culture. Located in the Free State of Saxony in the eastern part of Germany (the former GDR), AMD's investment in the region leverages a historic and rather unique skill base in engineering and the sciences and catalyzes the rebirth and growth of one of the largest semiconductor clusters in Europe. Contrary to conventional wisdom in the semiconductor industry, the Dresden team only copied from its home corporate locations in the United States those processes and practices that it felt would work in Germany rather than follow a "copy exactly" strategy. Dresden becomes AMD's sole worldwide manufacturing location for microprocessors, but now the company is faced with the question of whether it can successfully transplant the highly successful culture to other global locations because of favorable investment incentives.

Philipp Justus at eBay Germany (C)

Hill, Linda A., and Emily Stecker
September 2008

This case traces the development of eBay Germany, eBay Inc., and the career of eBay Germany's first country manager, Philipp Justus. The case covers from 2000 through the fall of 2007. This case details how eBay Germany, once a small start-up, became one of eBay's most successful locations. The case reveals how Justus added seasoned leaders and structure to the group, while allowing for improvisation. The case also traces Justus's career, as he moved to running eBay Europe and ultimately, the auctions group, which took him to headquarters. Like eBay Germany, eBay itself grew tremendously, in part from acquisitions like PayPal and Skype. But, growth in core areas, like auctions, had slowed. This case explains how eBay Inc. and eBay Germany tried to keep their "secret sauce."

Greg James at Sun Microsystems, Inc.: Managing a Global Team

Beyene, Tsedal, Thomas J. DeLong, and Alison Comings
September 2008

Greg James, a global manager at Sun Microsystems, Inc., sets out to meet with his entire 43-member customer implementation team spread across India, France, the United Arab Emirates, and the United States of America to resolve a dire customer system outage as required by a service agreement. Rather than finding a swift resolution to the rapidly escalating customer situation that motivated his trip, he finds himself facing distributed work, global collaboration, conflict, and management issues that are threatening to unravel his team.

Given Imaging Ltd. - First We Take Manhattan, Then We Take Berlin?

Isenberg, Daniel J
August 2008

GI has developed a revolutionary video pill for imaging the small bowel in the gastro-intestinal tract. The development has required the integration of a wide variety of technologies. GI founder and CEO Gabriel Meron must determine GI's marketing strategy and prioritize GI's initial target markets: either the United States, Europe, or Japan, or any combination. He is also faced with the immediate decision if to make offers to U.S. and European regional managers. Cash resources are scarce, and GI hopes to raise additional capital soon.

Corruption in Germany

Abdelal, Rawi, Rafael Di Tella, and Jonathan Schlefer
August 2008

Why do managers become corrupt? Does corruption ever pay? When do friendly relations cross into bribery? How can CEOs manage and prevent outbreaks of corruption? These and other questions are raised by three short case studies of corruption in Germany: at the global engineering firm Siemens, the automaker VW, and the chemical giant BASF. While German law not only permitted overseas bribery but even made it tax deductible until 1999, it was not welcomed in some nations where Siemens did business such as the United States-or in Germany after 2000-but old practices continued. Cooperative management-labor relations, often seen as key to the post-World War II German industrial powerhouse, went sour at VW, as a top manager secured key concessions by paying for union leaders' lavish foreign travel and visits to prostitutes. After vitamin prices sagged in the late 1980s, BASF and the Swiss chemical firm Hoffmann-La Roche plotted a global cartel that lasted a decade and raised the prices of many vitamins 50 percent or more. In the end, even after record criminal fines and jail time for some executives, some observers argued, such practices were likely to recur.

Università Bocconi: Transformation in the New Millennium

Gavetti, Giovanni, and Anna Canato
August 2008

Since its foundation in 1902, Bocconi has been a teaching institution with a dominant domestic presence. The case examines the currently unfolding attempt at transforming Bocconi University into a research powerhouse with the ambition to build a strong position among Europe's leading business schools. The case offers a detailed analysis of Bocconi's transformational journey and illustrates the challenges of changing the mindset of a large portion of the faculty.

Bernd Beetz: Creating the New Coty

Jones, Geoffrey G., and David Kiron
August 2008

Considers the creation of the world's largest fragrance company by Bernd Beetz, appointed chief executive of Coty Inc. in 2001. In 1990 the German consumer goods company Benkiser began acquiring fragrance and cosmetics brands with the intent of developing a beauty business. These included the long-established, but relatively small, U.S. fragrance company Coty. In 1996 the beauty business was spun off under the name Coty. When Beetz was hired as chief executive, it was still a fragmented collection of recently acquired brands. The case describes how Beetz re-ignited the dormant celebrity fragrance business with the successful launch of a new Jennifer Lopez fragrance line. Fashioning a new entrepreneurial culture based on the principles of "faster, further, freer," Coty hired longstanding executives from other firms and liberated their entrepreneurial capabilities, refreshing brands which had been tarnished into a global mass color cosmetics brand. In 2005 the acquisition of Calvin Klein from Unilever, and its renewal, catapulted Coty into the position of the world's largest fragrance company. The case provides an opportunity to examine the entrepreneurial, cultural, and organizational factors which enable acquired brands and employees to be re-invigorated and molded into a dynamic new global business. It asks if the cultural and other factors behind its rapid growth can sustain the company as it seeks growth much further as a top-five beauty company.

The Coartem Challenge (A)

Spar, Debora L., and Brian DeLacey
July 2008

In November 2005, Novartis, a major global pharmaceutical firm, is reviewing its Coartem program, an ambitious attempt to deliver life-saving malaria drugs, at cost, to millions of poor Africans. The company is deeply committed to the project, but it is also struggling with the organizational issues involved in dealing with international institutions like the World Health Organization and fitting nonprofit objectives into a for-profit structure.

The Coartem Challenge (B)

Spar, Debora L., and Brian DeLacey
July 2008

Supplements the (A) case.

The European Union in the 21st Century

Trumbull, Gunnar
July 2008

Focuses on the challenges facing the European Union in 2006. Following the French and Dutch referendums in 2005, the fate of the European Constitution is in jeopardy. Ten new accession countries have just joined the EU, with Turkey in the beginning stages of the accession process. New member states and additional future members have provoked widespread debate on financial, political, and social issues. Growth within the EU has been sluggish, with high unemployment and low investment in R&D. The EU has launched a set of reforms to create a "single passport" system of mutual recognition within the EU for capital, services, and people. Still, terrorist attacks, an upsurge in domestic violence, budgetary problems, and foreign policy, enlargement, and immigration issues plague the EU. In light of these problems, what will be the future of the EU and its constitution?

Tad O'Malley: The Investment Conundrum

Hardymon, G. Felda, Josh Lerner, and Ann Leamon
July 2008

Tad O'Malley has just started as an associate with Empire Investment Group. He must evaluate three investment opportunities facing the big leveraged buyout firm. All are global, but each pertains to different offices and each deal has different strengths and weaknesses. Which should he recommend to the partners for additional resources and what does a recommendation mean for his career?

Corruption at Siemens (A)

Healy, Paul M., and Maria Loumioti
July 2008

No description.

Corruption at Siemens (B)

Healy, Paul M., and Maria Loumioti
July 2008

Supplements the (A) case.

Corruption at Siemens (C)

Healy, Paul M., and Maria Loumioti
July 2008

Supplements the (A) case.

Corruption at Siemens (D)

Healy, Paul M., and Maria Loumioti
July 2008

Supplements the (A) case.

Thomas J. Watson, IBM and Nazi Germany

Jones, Geoffrey G., and Adrian Brown
July 2008

Considers the strategy of U.S.-owned IBM, then a manufacturer of punch cards, in Nazi Germany before 1937. Opens with IBM CEO Thomas J. Watson meeting Adolf Hitler in his capacity as President of the International Chamber of Commerce. IBM had acquired a German company in 1922 and, like other American companies, found itself operating after 1933 in a country whose government violently suppressed political dissent and engaged in intimidation and discrimination against Jews. Explores the tensions between IBM's German affiliate and its parent and provides an opportunity to explore the options and responsibilities of multinationals with investments in politically reprehensible regimes.

House of Tata: Acquiring a Global Footprint

Khanna, Tarun, Krishna G. Palepu, and Richard J. Bullock
July 2008

Chronicles the globalization of the Tata Group, one of India's largest business groups. Since 2000, many Tata Group operating companies have aggressively built international businesses, particularly through overseas acquisitions. After describing the globalization rationales and approaches of the major Tata Group companies, the case asks students to consider whether Tata Motors should pursue the acquisition of the Jaguar and Land Rover brands owned by US-based Ford Motor company.

Radiohead: Music at Your Own Price (A)

Elberse, Anita, and Jason Bergsman
June 2008

In October 2007, the British band Radiohead caused a stir when it announced it would allow customers to decide how much to pay for its new album, released exclusively as a digital download and available only from the band's own website. The pricing plan represented a significant break from the industry standard of fixed prices for music, typically 99 cents for individual songs and upward of $9.99 for complete albums. How viable is such a "name-your-own-pricing" plan? And what does Radiohead's move say about the future of the music industry?

Ra diohead: Music at Your Own Price (B)

Elberse, Anita, and Jason Bergsman
June 2008

Supplements the (A) case.

Note on the Bus Industry

Casadesus-Masanell, Ramon, and Jordan Mitchell
June 2008

Supplements the "Irizar in 2005" case. Briefly documents key points in the motor coach industry such as market size, categories of buses, reasons for purchasing, and the basis for competition amongst motor coach manufacturers.

Finansbank 2006

Foley, C. Fritz, and Linnea Meyer
June 2008

How do financial policy requirements and benefits of ownership concentration affect the need for and process of corporate restructuring? This case provides students with an opportunity to analyze the restructuring of a Turkish multinational business group by way of a merger. Finansbank A? is a bank headquartered in Turkey with additional operations in Holland, Switzerland, Russia, Romania, and Ukraine. It was founded by Hüsnü Özye?in in 1987 and in April 2006, the National Bank of Greece (NBG) offered to buy part of the bank. Students can consider which factors contributed to Finansbank's growth and success. In order to then assess the terms of NBG's offer, they can evaluate given valuations of the bank and analyze why the proposed deal is structured so the Özye?in retains a stake and buys back the non-Turkish operations. Students can also consider the offer from the perspective of minority shareholders.

Can PACIV (Puerto Rico) Serve European Customers?

Isenberg, Daniel
May 2008

Jorge Rodriguez-Gonzalez, PACIV's (Puerto Rico) founding CEO, is considering expanding PACIV's pharmaceutical manufacturing compliance services company to the U.K. and Europe. He has to decide whether to hire Wayne Snelgrove and how to define the scope of his responsibilities.

Global Climate Change and BP

Reinhardt, Forest, and Mikell Hyman
May 2008

Following the sudden resignation of Sir John Browne, Tony Hayward, BP CEO, must decide how global climate change management will figure into BP's corporate strategy. Climate change management was a major part of BP's strategy under Browne: In 1997 Browne broke from his colleagues, publicly declaring that global climate change was a serious problem and pledging BP to play a significant role in the search for solutions. BP successfully reduced its own carbon emissions, and championed cap-and-trade style regulation over taxation or command-and-control. Despite this progress, as the climate issue gains in political prominence and the Kyoto Protocol nears expiration, Hayward must consider what actions to take in BP's business strategy and in the political arena to manage ongoing climate risk.

Indesit Company: Does Global Matter?

Bower, Joseph L.
April 2008

In 2007, the leadership of the Indesit Company is focused on long-term corporate strategy. After three decades, the company has emerged as the number two home appliance producer in greater Europe. Should they invest further to be number one, or should they now focus on the global market, and if so, which part of the world? A subordinate issue is what to do with their multiple brands. Should they consolidate? This case has extensive data on global markets.

Novartis AG: Science-Based Business

Bowen, H. Kent, and Courtney Purrington
April 2008

Novartis is a science-based drug company, which has important implications for its business strategy. It is one of the largest pharmaceutical companies in the world with over $38B in sales in 2007. Pharmaceuticals account for slightly over $24B of that total. In 2007, corporate R&D spending was $6.43B, or almost 17% of net sales. Novartis executive leaders believe in scientific progress and that large-scale investments in science will therefore result in long-term pay-offs in terms of profits and discoveries that benefit mankind. Novartis' business strategy is closely tied to its research strategy, which emphasizes extensive internal discovery and development capabilities leading to organic growth along with explicit external alliances and collaborations to supplement its core capabilities. Like its competitors, Novartis faces many challenges in terms of moving research from the bench to the bedside. Five years after undertaking the restructuring of the discovery research organization, CEO Daniel Vasella is pleased with its progress, including many more development projects in the pipeline and new molecular entities. Nevertheless, the company faces a number of challenges, including generic drugs, patent infringements in developing countries, and pricing pressure from governments and health insurers in the United States. Given these challenges, Novartis must decide how much to spend on R&D overall, how to arrive at the right mix between organic growth and external collaboration and in-licensing, and how to measure success when it takes so many years to develop and launch a successful drug.

Opening Dot EU (A)

Edelman, Benjamin
April 2008

EURid considers possible market mechanisms to allocate initial domain names within the Internet's newly-created "dot EU." European Union regulations and community norms substantially constrain EURid's approach, preventing the use of the most natural economic mechanisms (such as auctions).

Opening Dot EU (B)

Edelman, Benjamin
April 2008

Supplements the (A) case.

Spiegel-Verlag Rudolf Augstein GmbH & Co. KG.

Villalonga, Belen, Daniela Beyersdorfer, and Vincent Dessain
April 2008

Der Spiegel is Germany's most influential political news magazine. In the 1970s, its founder Rudolf Augstein gave a 50% ownership stake to his employees and sold another 25% to rival publisher Gruner+Jahr, but retained significant control during his lifetime by stipulating in the bylaws that every important business decision would require a 76% shareholder approval. When Augstein died in 2002, however, his co-owners exercised the option the same bylaws gave them to buy a 0.5% stake each from Augstein's heirs, who thus lost their veto rights. In September 2007, the benefits and costs of sharing ownership with employees became particularly salient when the employees block the CEO's proposal to acquire 50% of the Financial Times Deutschland. Faced with the new balance of power, Rudolf's eldest son Jakob Augstein is forced to rethink the role that his family can play in Spiegel going forward. Should he try to buy back the pivotal stake? Sell the family stake altogether? But to whom, and at what price?

The Deutsche Bank (A)

Moss, David
April 2008

Founded in 1870 to help finance surging German exports and imports, the Deutsche Bank soon moved into domestic banking. In fact, its founders aimed to create both a commercial bank and an investment bank under one roof-that is, a "universal bank." By the end of the nineteenth century, the Deutsche Bank was not only the largest bank in Germany, but also a strategic actor in the broader European market and, indeed, in the world economy. Over the first half of the twentieth century, however, the bank faced a series of national crises: defeat in WWI (1914-1918), revolution in 1919, hyperinflation in 1923, economic depression in the early 1930s, the rise of Hitler in 1933, another world war in 1939, and then total defeat in 1945. At the end of WWII, the Soviets closed the Berlin headquarters of the Deutsche Bank as part of their denazification effort. Meanwhile, the United States, Britain, and France, occupying the western portion of Germany, attempted to implement a policy of economic decentralization and broke what remained of the bank into small pieces. By 1950, facing a proposal from leading German bankers to allow the big banks to begin reconstituting themselves, the Allied powers and the new German legislature had to decide whether to accept this proposal or reject it.

Capital Field: A Room with a View

Retsinas, Nicolas P., and Joshua Wyatt
April 2008

Jerzy Peters, Managing Director of Patron Capital Partners, must decide the best investment option on the development of the Odra Polish theater chain and the associated real estate. Capital Field was a company formed by U.S.-educated Polish natives involved in real estate and cinema who worked to privatize Odra. There is potential in reinvigorating the former state-owned and operated Odra theater chain and also redeveloping portions of the associated real estate to retail, office, or residential.

Moët Hennessy España

Casciaro, Tiziana, Vincent Dessain, and Elena Corsi
April 2008

Since being appointed CEO of Moët Hennessy España (MHE), the Spanish subsidiary of the wine & spirits business of Louis Vuitton Moet Hennessy (LVMH), the world's leading luxury products group, Ramiro Otano had overseen a spectacularly successful run at the company by any financial measure. Despite the company's growth, some of the employees who had been at the company for years were complaining that the company had lost its "human touch" in the process of professionalizing and modernizing to capitalize on the fantastic market opportunities that had opened up in Spain. Some felt that the work was now too structured and interpersonal relationships too dry. Otano acknowledged that the financial success had happened on the expense of the informal and relational atmosphere that used to characterize the company. But did it matter, Otano wondered? How should he go forward?

INSEAD

Datar, Srikant, David Garvin, and Carin-Isabel Knoop
March 2008

In the spring of 2008, INSEAD offered a one-year MBA, PhD, executive MBA, and non-degree management education programs to nearly 900 MBA students, 64 PhD candidates, and over 8,500 executive education students. With two campuses, one in Europe and one in Asia, INSEAD had been a pioneer in setting up a secondary campus as a way to push the internationalization of its faculty and curriculum. The case explores INSEAD's approach to business education in a global context and how it functions with a dual-campus setting.

Italy: If Not Now, When?

Vietor, Richard H.K., and Julia Galef
March 2008

Describes Italy's main macroeconomic problems: low productivity growth, stagnant GDP growth, and high public debt. As of early 2007, the country's global competitiveness has plummeted and its debt remains well above the level allowed by the EU's Maastricht treaty. Historical and structural reasons for the current situation are explored, and Italy's possible strategies are discussed in the context of the country's challenging political climate. A replacement of an earlier case done in 2003.

Studio Moderna--A Venture in Eastern Europe

Isenberg, Daniel
March 2008

Sandi Cesko, CEO, has built Studio Moderna to be the leading electronic retailer in 20 countries in and around Central and Eastern Europe, evolving an unusual multi-channel strategy, organizational structure, and IT systems. Serious conflicts cause Cesko to question his in-sourcing strategy.

Subprime Meltdown: American Housing and Global Financial Turmoil

Rotemberg, Julio J.
March 2008

This case focuses on the financial difficulties faced in the U.S. from August to December 2006 as well as their roots in subprime lending. After briefly discussing how mortgages were structured and traded in the pre-1990 period, it describes subprime mortgage lending, as well as other innovative mortgages issued in the 1990s. It also discusses how these mortgages were packaged into securities, and who ultimately came to own these claims and their attendant risk. The case then describes the pain inflicted by raising foreclosures, as well as the financial market ramifications of the rise in mortgage delinquencies. It also chronicles the response of the U.S. and European central banks to the unfolding financial difficulties. Lastly, the case lays policies that have been proposed to deal with either the consequences or the causes of the crisis. These include policies for reforming the supervision of the financial system, changing bankruptcy rules and regulating mortgage finance. Some attention is paid to the role of credit rating agencies in the crisis, and in the financial system as a whole.

Metro International S.A.

Khanna, Tarun, Felix Oberholzer-Gee, Vincent Dessain, Ane Damgaard Jensen, and Anders Sjøman
February 2008

Explores the business model of Metro International, a company publishing 70 editions of its free newspaper in 20 countries. Metro had been a pioneer in the free newspaper market, fighting incumbent publishers distributing traditional paid-for newspapers. Looks at the decision facing top management of Metro International in 2007 regarding the future strategy of the company. The company had become profitable after years of losses, but other problems had surfaced; competition had increased heavily in many markets and advertising-the free newspaper's only source of income-was quickly shifting from newspapers to the Internet. Spain was a particular case in point. What had Metro International learned from experiences elsewhere on the globe and would they allow the company to make the Spanish unit profitable? What strategy should the Spanish country manager adopt?

The South Sea Company (A)

Moss, David A., Eugene Kintgen, and Agnieszka Rafalska
February 2008

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 conversions 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.

Vegpro Group: Growing in Harmony

Bell, David E., Brian Milder, and Mary L. Shelman
February 2008

Vegpro, a horticulture company, is Kenya's largest exporter of fresh vegetables and flowers to top supermarkets in the U.K. and Europe. In 2007, Vegpro's business is threatened by growing consumer concern about the environmental impact of food production and transport, including "food miles". The case describes the company's growth, which includes the use of owned land and outgrowers for production, the addition of value-added processing to obtain premium prices, and the introduction of global certification to ensure food safety and meet retailer and consumer requirements. The case also discusses the potential impact of increased consumer awareness of ethical sourcing and introduces the potential trade-off between local production and economic development.

European Integration: Meeting the Competitiveness Challenge

Ketels, Christian H.M. and Michael E. Porter
February 2008

The case discusses the origins and development of the European Integration process up to 2004, focusing in particular on the Lisbon Agenda for upgrading Europe's competitiveness. It discusses the different policy areas that have been approached at the European level over time, and provides background on the architecture of European institutions. The case enables students to understand how European integration has affected competitiveness across the continent's regions. It provides a platform to discuss why the Lisbon Agenda has up to 2004 failed to achieve its goals and what European integration experience can serve as a model for other world regions.

"Uria Menendez (A)"

Eccles, Robert G., and Partha P. Bose
February 2008

Uria Menendez, the pre-eminent law firm in Iberia, is at a critical point in its long and distinguished history. Its newly appointed second generation co-managing partners are facing some critical strategic decisions concerning how the firm should position itself in Iberia, geographical expansion to serve the needs of its clients, and its "Best Friends Network" with leading law firms in other countries. The firm must also address critical issues regarding the hiring, development per in work/life balance, and compensation of the top law school graduates the firm needs to maintain its position and reputation.

Global Knowledge Management at Danone

Edmondson, Amy C., Bertrand Moingeon, Vincent Dessain, and Ane Damgaard Jensen
February 2008

The case explores French consumer goods company Danone's novel approach to knowledge management. 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, the president of human resources and his team had found that 5,000 Danone managers around the world 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. The case illustrates Danone's options on taking knowledge management into the future of Danone.

Differences at Work: Will (A)

Sucher, Sandra J., and Rachel Gordon
January 2008

A colleague makes a stereotypical remark about gays that Will, an out gay man, knows to be wrong. He struggles with how to correct the senior colleague.

Differences at Work: Jenny (A)

Sucher, Sandra J., and Rachel Gordon
January 2008

Accompanied by her boss, Jenny is pitching a marketing engagement, but the prospective client keeps making comments about how attractive he finds her. She wonders how she should handle the situation.

Differences at Work: Jenny (B)

Sucher, Sandra J., and Rachel Gordon
January 2008

Supplements the (A) case

ISS A/S (A)

Rose, Clayton S
January 2008

An offer to buy ISS A/S is contemplated by two leading private equity firms, and their financing plan calls for the addition to the company's balance sheet of a significant amount of new debt. The increased leverage will negatively affect the rating and value of ISS's investment grade debt, and the private equity firms need to anticipate the reaction of bondholders and decide how best to respond. The case provides an opportunity to examine the nature and extent of a company's responsibilities to its bondholders, to develop an enhanced understanding of the challenges of managing contractual obligations, and circumstances under which business leaders might agree to terms outside of the contract.

ISS A/S (B)

Rose, Clayton S
January 2008

Supplements the (A) case

ISS A/S (C)

Rose, Clayton S
January 2008

Supplements the (A) case

Real Madrid Club de Fútbol in 2007: Beyond the Galácticos

Elberse, Anita, and John Quelch
January 2008

Supplements the (A) case

Russian Standard

Deshpandé, Rohit, and Seth Schulman
January 2008

In September 2006, Russian billionaire Roustam Tariko, founder and owner of Russian Standard, needed to develop a strategy for introducing Russia's most popular brand of premium vodka (RSO) to American consumers. In the past year, he had introduced Imperia, the firm's flagship ultra-premium vodka, in the U.S. market; lined up American importation and distribution partners for Russian Standard; and had worked hard to build excitement for the brand. Beyond establishing RSO's stylishness, Tariko needed to carve out a space for the brand in the crowded American market. Imperia's marketing had emphasized two attributes, superior quality and Russian-ness. In articulating RSO's advertising strategy and tagline, Tariko would need to decide once and for all which attribute to emphasize. He would also need to decide how to articulate this attribute so as to develop discrete identities for each of the two brands. Would Americans respond better to a claim of authenticity, or to a claim of unparalleled purity? And which were RSO and Imperia best equipped to exploit?

TH!NK: The Norwegian Electric Car Company

Lassiter, Joseph B., and David Kiron
January 2008

On August 1, 2007, 61-year-old Jan-Olaf Willums' plane was flying along the Greenland coastline on his way back to Norway after intense discussions with several prominent U.S. venture capital investors, among them Kleiner Perkins and Rockport Capital Partners, about investing in a plan to accelerate his company's entry into the North American market. A successful engineer, entrepreneur, and sustainable development champion, Willums was CEO of Think Global AS (TH!NK), a privately held Norwegian maker of electric vehicles (EVs). Having already raised $85 million in venture backing, TH!NK was just a few months away from the broad European launch of its line of EVs, the first commercially available, highway-safe cars in the world that produced zero greenhouse emissions.

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2007

Iceland: Small Fish in a Global Pond

Porter, Michael E., and Christian H.M. Ketels
December 2007

Describes the economic development of Iceland since 1945, focusing in particular on the years since 2000, when Iceland experienced strong growth and Icelandic companies aggressively internationalized.

British Land

White, Lucy
December 2007

British Land's shares traded below NAV. Laxey investments tried to force British Land into share buybacks and criticized its corporate governance. Laxey voted borrowed shares at the AGM.

Millions of Customers and the Search for a Business: The Challenge of IRC-Hispano

Martínez-Jerez, Francisco de Asís, Fernando Barrajo, and Joshua Bellin
December 2007

Like many online services, IRC-Hispano, the world's largest Spanish-language chat organization, has many customers but sees few revenues. As an association, its structure presents many limitations and hurdles to overcome involving investing in technology platform updates and generating ideas and initiatives to monetize the use community

Allianz AG: Becoming a European Company

Lorsch, Jay W., and Alexis Chernak
November 2007

Focuses on the decision made by leadership at Allianz AG, the German insurance and financial services company, to complete a cross-border merger with the Italian insurance and financial services company, RAS. Allianz, however, could not complete the cross-border merger by remaining a German corporation under the current German statutes. Allianz, however, could conduct the cross-border merger as a European company according to the Statute of the European Community (Societas Europaea, or SE), which was recently passed by the European Union and adopted into German law. Examines the rationale for the decision made by the Allianz supervisory board and the board of management in addition to the process of becoming an SE, including the change in the composition of the supervisory board as a result of the merger and the conversion to an SE.

PlaNet Finance: Broad Scope in Microfinance

Hagiu, Andrei, and Elena Corsi
November 2007

PlaNet Finance was a French NGO providing technical support and training services to microfinance institutions (i.e., institutions providing financial services to the poor) and other microfinance actors, rating of microfinance institutions and management, and advisory services to microfinance investors and investment funds. Furthermore, it was creating a network of microfinance banks through a microfinance holding company. However, in a context of rapid change and explosive growth of the microfinance sector, Jacques Attali, the founder and president, wondered whether PlaNet Finance's scope was sufficiently broad to fulfill its mission or, on the contrary, whether it needed to be narrowed in order to eliminate organizational challenges and external perceptions of conflicts of interest.

The Hertz Corporation (A)

Luehrman, Timothy A., and Douglas C. Scott
November 2007

Examines the leveraged buyout of Hertz in 2005, a complex, high-profile deal and a good example of cutting-edge practice in private equity. The first of a two-part series on the Hertz LBO, adopts the perspective of Clayton, Dubilier & Rice, the leader of a private equity consortium bidding to buy Hertz from Ford in an auction. Set at the final round of the auction, the immediate problem for the consortium is how much to raise its previous bid. A reasonable bid must be based upon how much value the private equity consortium can create through improvements in Hertz's global operations on the one hand, and a more efficient capital structure on the other. Presents detailed descriptive information on both topics, but does not include detailed financial projections, which must be formulated by students or supplied, for discussion purposes, by the instructor.

The Hertz Corporation (B)

Luehrman, Timothy A., and Douglas C. Scott
November 2007

Supplement to the (A) case

The Transformation of Thomson

Collis, David J., and Troy Smith
November2007

Thomson, a French multinational, went through a decade of dramatic change in the early years of the 21st century. From a state-owned enterprise earning 97% of its revenue from television sets and other analog consumer electronics, Thomson had become a publicly traded company providing digital video services and equipment to major movie studios, broadcast networks, and retailers, as well as satellite, cable, and telecom operators. The Group had just met its financial targets for 2006 and had achieved organic growth of 6% in the first half of 2007. Yet even as he reflected on these successes, CEO Frank Dangeard knew that much remained to be done to secure the company's leadership position against aggressive competition in a rapidly shifting and uncertain technological environment. Traces the evolution and transformation of the company and highlights the difficult choices Thomson faces in an ever-evolving high-tech industry.

Dove: Evolution of a Brand

Deighton, John A.
November 2007

Examines the evolution of Dove from functional brand to a brand with a point of view after Unilever designated it as a masterbrand and expanded its portfolio to cover entries into a number of sectors beyond the original bath soap category. The development causes the brand team to take a fresh look at the clichés of the beauty industry. The result is the controversial Real Beauty campaign. As the campaign unfolds, Unilever learns to use the Internet, and particularly social network media like YouTube, to manage controversy.

Norway Sells Wal-Mart

Pozen, Robert C., and Aldo Sesia Jr
November 2007

In June 2006, Norway's Pension Fund decided to divest its position in Wal-Mart Stores, Inc. after an investigation by the Fund's Ethics Council. According to a spokesperson of Norway's Finance Ministry, "The recommendation to exclude Wal-Mart cites serious and systematic violations of human rights and labor rights." Before making its recommendation to the Ministry to divest Wal-Mart, the Council sent its findings to the retailer for comment, but received no response. While Wal-Mart did not respond, the company had taken several steps to strengthen its ethical standards worldwide in recent years.

Gianna Angelopoulos-Daskalaki and the 2004 Athens Olympic Games (A)

Marquis, Christopher, Doug Guthrie, and Yannis Katsarakis
October 2007

Gianna Angelopoulous-Daskalaki led the bidding organization that secured the 2004 Olympics for Athens and then later the preparations for those Games. Tracks her leadership style and how she and her team won the bid. After substantial planning problems threatened to cost Greece the Olympics, Angelopoulos was asked to take over the preparations, with only 4 of the 7 years remaining. Ends with the question of what she needs to consider in making the decision to take over the Games' preparations, what role she should play, and where she should start.

Gi anna Angelopoulos-Daskalaki and the 2004 Athens Olympic Games (B)

Marquis, Christopher, Doug Guthrie, and Yannis Katsarakis
October 2007

Supplements the (A) case.

Unilever as a 'multi-local multinational' 1945-1979

Jones, Geoffrey G., and Stephanie Decker
October 2007

Explores the opportunities and threats to Unilever's global business in 1978 based on the commercial and political challenges faced by three of its subsidiaries, Lever Brothers in the United States, Hindustan Lever in India, and United Africa Company in West Africa. Management faced several problems: criticism of multinational companies, anti-trust legislation, expropriations, and rising competition from international and local rivals. Focuses on developing a new global strategy for a company that placed a premium on a consensual management style and local autonomy.

Silic (A): Choosing Cost or Fair Value on Adoption of IFRS

Hawkins, David F., Vincent Dessain, and Andrew Barron
September 2007

This case addresses the implementation of International Reporting Standards (IFRS) at Silic, a publicly-listed real-estate company in France. The A case focuses on how Silic should implement International Accounting Standard 40 (IAS 40, Investment Properties). Students assume the role of CEO Dominique Schlissinger and must decide whether the company should report its primary asset (investment property) using either the historical cost or fair-value accounting method. The B case exposes the accounting methods eventually chosen by Silic and other publicly-quoted real-estate companies in France. It gives Silic the opportunity to explain the reasons behind and effects of it choice, and encourages students to reflect on whether Silic made the right decision.

Silic (B): Choosing Cost or Fair Value on Adoption of IFRS

Hawkins, David F., Vincent Dessain, and Andrew Barron
September 2007

Supplements the (A) case.

Moulin Rouge (A)

Edmondson, Amy C., Bertrand Moingeon, Vincent Dessain, and Ane Damgaard Jensen
September 2007

The case explores the Parisian cabaret following its bankruptcy in 1998. Under court supervision, the family-owned cabaret was forced to let an outside person step in to supervise the company. Set in 2004, the A case follows the new CEO in his attempts to turn the company around and asks participants to consider how leaders can effectively motivate employees to create a successful business in an old, well-known entertainment company. The B case brings the Moulin Rouge turnaround story up to the year 2007 and illustrates the collaboration between external managers and the family and describes the continuous empowerment of the employees.

Moulin Rouge (B)

Edmondson, Amy C., Bertrand Moingeon, Vincent Dessain, and Ane Damgaard Jensen
September 2007

Supplements the (A) case.

Metro International

Khanna, Tarun, Feliz Oberholzer-Gee, Anders Sjoman, Ane Damgaard Jensen, and Vincent Dessain
September 2007

The case explores the business model of Metro International, a company publishing 70 editions of its free newspaper in 20 countries. Set in 2007, the case looks at the decision facing top management regarding the company's future strategy. A pioneer in the free newspaper market, Metro had fought incumbent publishers distributing traditional paid-for newspapers, but while the company had also generated profits, new challenges had surfaced; competition had increased and advertising-the free newspaper's only source of income-was shifting from newspapers to the internet.

E.ON Corporate Strategy

Reinhardt, Forest L., and Sebastian Frankenberger
September 2007

Examines the corporate strategy of German energy giant E.ON. The firm is vertically integrated, horizontally diversified across electricity and natural gas, and active in numerous countries in Europe as well as in the United States. Explores the costs and benefits of the company's choices about its vertical, horizontal, and geographical scope. Considers the risks of economic regulation, increasing concerns about environmental externalities from carbon emissions and nuclear power, and political and price risks in upstream markets for fossil fuels.

Marie Trellu-Kane at Unis-Cite (A)

Anteby, Michel J., Julie Battilana, and Anne-Claire Pache
September 2007

Marie Trellu-Kane is trying to decide how Unis-Cite should respond to French President Jacques Chirac's announcement in 2005 of a new national voluntary civil service program. Since 1994, Trellu-Kane and her co-founders had been creating and overseeing a civil service program called Unis-Cite, in which youth, particularly from the disadvantaged immigrant population, volunteered nine months of their time to work on community projects. Based in Paris, France, Unis-Cite had begun to expand to other areas. With the announcement that the government would provide funding to mobilize thousands of youth volunteers, Trellu-Kane needed to decide how Unis-Cite would proceed.

BT Plc: The Broadband Revolution (B)

Tushman, Michael L., David Kiron, and Adam M. Kleinbaum
September 2007

Supplements the (A) case

Royal DSM N.V.: Information Technology Enabling Business Transformation

Applegate, Lynda M., Edward Watson, and Mara E. Vatz
August 2007

Describes how Royal DSM NV, an $8 billion dollar global corporation, leveraged information technology to enable a major corporate portfolio transformation between 2000 and 2006.

Nordic Telephone Company's Bid for TDC

El-Hage, Nabil, Mark Lurie, and Leslie Pierson
August 2007

Nordic Telephone Company, formed by a consortium of private equity firms, has made a public tender offer for Denmark's leading telecommunications company, TDC. TDC's board of directors approved the take-private transaction, and 88% of shareholders have accepted the offer. Nordic Telephone must gain 90% of TDC's shares to force compulsory redemption under Denmark law. However, a pension fund that held 5.5% of the outstanding stock has rejected the offer. Should Nordic Telephone lower its 90% acceptance threshold and purchase TDC without a guarantee of full ownership, or should TDC walk away from the table?

BBC Worldwide: Global Strategy

Quelch, John A., and Carin-Isabel Knoop
August 2007

In January 2007, John Smith, chief executive officer of BBC Worldwide (BBC WW), the commercial arm of the British Broadcasting Corporation (BBC), was preparing to meet with his senior managers to discuss BBC WW's global strategy options. BBC WW exploited and exported BBC-branded content around the globe through all formats, including magazines, television, books, DVDs, audio books, merchandise, mobile phones, downloads, and other emerging digital media (such as Internet Protocol TV). BBC WW delivered its profits back to the BBC. Since 2004, BBC WW profits had more than doubled.

Grosvenor Group Ltd

Perold, André F., Arthur I. Segel, Oliver Corlette, and Soyoun Song
August 2007

A global real estate investment firm is trying to decide whether to enter into a property-derivative transaction to help it effect a change in asset allocation. The market for real estate derivatives is beginning to grow quite rapidly and the firm is trying to understand how to use these instruments in managing its business.

Ericsson: Leading in Times of Change

Narayandas, Das, Vincent Dessain, Daniela Beyersdorfer, and Anders Sjøman
August 2007

After its dramatic corporate turnaround, the Swedish telecom infrastructure company Ericsson hires a new CEO to bring the former Swedish flagship company back on track. Puts students in the shoes of Carl-Henric Svanberg, an industry outsider and CEO of locks group Assy Abloy, who does not hesitate a moment when he gets the call in early 2003. Looks back on the reasons for Ericsson's current situation and the recent restructuring programs that cut the company's staff and operating expenses in half. Presents Svanberg's vision for how to re-energize the ailing company and reach profitability once again, and gives students the opportunity to debate these issues.

Reinventing Ericsson

Narayandas, Das, Vincent Dessain, Daniela Beyersdorfer, and Anders Sjøman
August 2007

Carl-Henric Svanberg, CEO of the Swedish telecom infrastructure company Ericsson, has to reorganize the recovering company in late 2003 after a major industry downturn. He is convinced that only a more market-orientated and customer-focused organization will be able to remain competitive in this maturing, high-technology-focused industry. Presents his change project, in which the sales and marketing structure play a central role. Will his ideas allow the company to keep its customers and successfully go after new markets?

Bert Twaalfhoven: The Successes and Failures of a Global Entrepreneur

Alfaro, Laura, Rafael M. Di Tella, Ane Damgaard Jensen, and Vincent Dessain
July 2007

Bert Twaalfhoven (HBS '54) is faced with two offers to acquire the manufacturing holding company he had built up over 40 years. Despite the attractive price, which would net Twaalfhoven and his family $70 million, he is reluctant to sell the company because his original vision was to create a family-owned conglomerate which would last for generations. Of his eight children, two are appropriate successors, but neither shows much interest in following in their father's footsteps.

Rovná Dan: The Flat Tax in Slovakia

Alfaro, Laura, Rafael M. Di Tella, Ane Damgaard Jensen, and Vincent Dessain
July 2007

Explores the tax policy choices made by Slovakia and the impact of reforms. Set in 2006, looks at the decision facing new Prime Minister Robert Fico as he faces the public's "reform fatigue." Traces the development of tax and fiscal policies since Slovakia's independence in 1993, focusing on the 2004 implementation of the rovna dan, or "equal tax," a drastic simplification of the tax system. A major theme is the impact of labor market and welfare reform, as well as the effective tax rates of both investors and workers. Another important theme relates to Slovakia's desire to join the EU and adopt the Euro.

SAP: Industry Transformation

Hagiu, Andrei, Pai-Ling Yin, Daniela Beyersdorfer, and Vincent Dessain
June 2007

SAP seeks growth in the small- and medium-sized enterprise market. To do so, it has created a platform strategy with SAP Netweaver. What are the advantages and challenges for an incumbent entering a new market? What are the benefits and challenges of implementing a platform strategy?

Bancaja: Developing Customer Intelligence (A)

Martínez-Jerez, Francisco de Asís, and Katherine Miller
June 2007

In 1996, CEO Fernando Garcia Checa wanted to make customer analytics a part of Bancaja's new strategy. Bancaja, a savings bank based in Valencia, Spain, was expanding and wanted to exploit customer information to increase commercial effectiveness. At the same time, it was pushing for innovation in the nascent Spanish credit card market. To avoid the considerable investments of time and money that a large-scale customer relationship management (CRM) project would require, the bank decided to explore its benefits with a smaller pilot project. It appointed a CRM project team to design and implement a project focused on credit cards. Describes the challenges of the Spanish credit card market at the time, the methods for profiling credit card customers, and the variables involved in designing an optimal credit card. Concludes with a consideration of the decisions the CRM team had to make in designing the project, including whether to use conjoint analysis or implement a mini campaign.

Bancaja: Developing Customer Intelligence (B)

Martínez-Jerez, Francisco de Asís , and Katherine Miller
June 2007

Supplements the (A) case.

Academia Barilla

Bell, David E., and Mary Shelman
June 2007

Barilla, the world's largest pasta company, has introduced a new high-quality, high-priced product line that features a range of authentic Italian food products sourced from artisan producers. Management believes the line will appeal to consumers seeking healthier foods and convenience, and will help extend Barilla's brand identification beyond pasta. However, the new line is a bold departure from Barilla's core competencies of high-volume production and sales of fast moving, low-priced goods. Provides an opportunity to discuss trends in consumer eating habits, supply chains for locally-produced goods, and changes in retail formats. In addition, provides an opportunity to discuss the difference in investment philosophy between a family-owned company and a publicly-traded company.

Wal-Mart in Europe

Trumbull, Gunnar, and Louisa Neissa
June 2007

Presents challenges facing Wal-Mart during its move into Germany. Explores the dynamics of the German retail market.

Bankinter: Deploying the Mortgage Simulator to the Branches

Martínez-Jerez, F. Asís, and Katherine Miller
May 2007

Describes how Bankinter, a mid-sized Spanish bank, altered the information set available to its customer-facing employees. In the spring of 2003, Bankinter introduced an Excel-based program called the Mortgage Simulator that helped branch managers calculate the price of a mortgage and estimate the customer lifetime value (CLV). Facilitates a discussion of the impact of such a change in the information set for employees when the incentives and decision rights remain unchanged. Also examines the tradeoffs front-line employees face as they divide their efforts between reaching new customers and increasing the amount of cross-selling to existing customers.

French Unemployment: The Crisis Continues

Alfaro, Laura, Vincent Dessain, and Patrick Vachey
May 2007

Supplements the (A) case

Latvia: Economic Strategy after EU Accession

Porter, Michael E., and Christian H.M. Ketels
May 2007

Describes the economic development of Latvia, a small eastern European country on the shores of the Baltic Sea, from regaining independence in 1991 to European Union (EU) accession in 2004 and is set on May 1st, 2004, the day Latvia became an EU member. Latvia had achieved strong growth since regaining independence from the Soviet Union in 1990. Describes Latvia's economic development over this period, discussing the economic policy efforts that have taken place and includes general information on the country, its history and politics, and the business environment that companies faced in 2004. A special focus is the influence that the EU accession process has on the Latvian economy and on economic policy choices in the country. Challenges students to discuss how the environment changes as EU membership is achieved, and which new priorities the country might need to define for its economic policy.

Actigall: Managing the Divestement of Mature Drugs

Gilson, Stuart C., and David Kiron
May 2007

A company must decide whether to divest itself of a mature drug brand.

The West German Headache Center: Integrated Migraine Care

Porter, Michael E., Clemens Guth, and Elisa Dannemiller
May 2007

Describes the joint efforts of the German health plan KKH and Essen University Hospital to develop an integrated practice unit (IPU), and the West German Headache Center's efforts to improve the quality of migraine care. Provides an overview of the German health care system detailing its provider, health plan, and reimbursement structure. Following new legislation in 2004, which allowed health plans and selected providers to contract outside of the regular group purchasing scheme, KKH and Dr. Deiner of Essen University Hospital developed a novel delivery structure for migraine care. Challenges and hurdles to implementation are described for both the health plan and the IPU. Provides detailed data to allow students to evaluate success, identify current challenges, and recommend improvements to the integrated care system.

Schibsted

Anand, Bharat N., and Sophie Hood
May 2007

In 2006, newspaper firms in developed markets were severely threatened on three fronts: the growth of online news, online classified advertising, and free newspapers. Schibsted, however, had managed to cope with these challenges successfully, and had become something of a legend in the newspaper community. The case describes the evolution of Schibsted's strategy from print media towards electronic media starting in 1995, including their choices around the internal structuring of new ventures. In September 2006, the management team confronted a few salient questions: first, should Schibsted allow Google to crawl its online news sites in Scandinavia? Second, were Schibsted's successes within Scandinavia repeatable outside it? Indeed, how far could Schibsted's competitive advantage travel?

Fritidsresor Under Pressure (A): The First 10 Hours

Margolis, Joshua D., Vincent Dessain, and Anders Sjøman
May 2007

When a tsunami hit Southeast Asia on December 26, 2004, the leadership team at a Swedish tour company must manage a devastating crisis affecting thousands of its customers and employees in Thailand. Documents the challenges the company faced in the first ten hours of the crisis. Amid the uncertainty of those first hours, the leadership team must make a range of decisions to orchestrate the company's response and manage the rest of its business. Describes the chaotic environment of a crisis, especially when the normal course of business is interrupted, and puts students in the shoes of a range of managers, each having to make decisions on his/her own, while coordinating with one another to enable the company to respond effectively.

Fritidsresor Under Pressure (B): The First Week

Margolis, Joshua D., Vincent Marie Dessain, and Anders Sjøman
May 2007

Supplements the (A) case.

Fritidsresor Under Pressure (C): After the Tsunami

Margolis, Joshua D., Vincent Marie Dessain, and Anders Sjøman
May 2007

Supplements the (A) case.

NCH Capital and Univermag Ukraina

Lerner, Josh, and John Didiuk
April 2007

NCH Capital is considering whether to sell its Ukrainian company Univermag Ukraina, which it has held and built up over the past decade.

Common Agricultural Policy and the Future of French Farming

Trumbull, Gunnar, Vincent Dessain, and Elena Corsi
March 2007

Presents the history and evolution of the EU Common Agricultural Policy, from early price supports to the 2003 decision to "decouple" payments to European farmers. Explores the logic behind agricultural supports, with a focus on the economic, political, and cultural context of French farming. Discusses efforts to reform the CAP in the context of the Doha Round of WTO negotiations against the backdrop of European enlargement.

Navigating Turbulent Waters: Glitnir Bank's Communication Challenge During a Macroeconomic Crisis

Kimbrough, Michael D., Gregory S. Miller, Vincent Dessain, and Ane Damgaard Jensen
March 2007

Glitnir Bank is an Icelandic company following an aggressive growth strategy that relies heavily on foreign debt. Access to such debt is suddenly curtailed when there is a downturn in market sentiment regarding the Icelandic economy as a whole. Students will reflect on the essential elements of a communications strategy, including the role of the media and analysts. Class discussion will focus on creating infrastructure that will increase the bank's ability to communicate effectively in an environment of macroeconomic uncertainty.

Ice-Fili (Abridged)

Wells, John R., Pai-Ling Yin, and Michael G. Rukstad
March 2007

Designed as an overview of all aspects of the strategy process: industry analysis, positioning, dynamics and sustainability, and scope issues of corporate strategy, including vertical integration, horizontal diversification, and location issues. Ice-Fili is the largest ice cream producer in Russia in 2002, but is facing strong competition from Nestle despite its success over other multinational competitors. Contains detailed exhibits, allowing deeper analyses. A rewritten version of an earlier case.

Tiberg Co

Beer, Michael, and Isenberg, Daniel J.
February 2007

Describes the efforts of a vice president of purchasing to coordinate and centralize purchasing procedures in a multinational company. He encounters a lack of active cooperation. A rewritten version of an earlier case by G. Lombard.

Vipp A/S

Austin, Robert D., and Daniela Beyersdorfer
February 2007

Rapidly growing Vipp sells highly differentiated (and expensive) "designer" versions of a product that most buyers think about in purely functional terms: Trash bins. Examines how the company successfully produces and positions a trash bin so that it is regarded as an "art object" (and which has been displayed as such as the Paris Louvre). Though it is a tangible product, a Vipp bin's price cannot be even remotely justified by its functional features; customers, rather, pay dearly for the intangible aspects of the product, which the firm works very hard to keep integrated with the physical product. Deals with a range of issues confronting creative economy companies, such as how to produce products with very important intangible components, how to assure and manage the design integrity of a family of products, how far to extend a brand, how to manage creative employees, and where to source creative work.

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