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In this two-part case, Richard Davis and Stephen Hodgetts, co-owners of D&H Management LLC, are trying to come to terms with changes in the real estate market‐changes that have made their rental homes worth less than their mortgages and at best yielding at most a break-even cash flow. In Part A Davis and Hodgetts are weighing the following options: (1) sell all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (2) walk away from all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (3) delay paying the mortgage on some of the homes, allow these properties, if necessary, to go into foreclosure, and in the interim use the positive cash flow to shore up some of the more positive cash flow homes; (4) contact all of the lenders and try to renegotiate the mortgages so as to have lower monthly rates.

In Part B Davis proposes that he and Hodgetts go their separate ways. Davis walks away with the two properties that have mortgages in his name, while Hodgetts obtains the four properties that have mortgages in his. From Hodgettsʼ perspective this is a losing proposition since (1) he would have to take over the management of four “loser” properties rather than Davisʼs two, an ʼunfairʼ split of the liabilities; (2) he had no interest in managing properties; and (3) he and Davis would be splitting up a long-standing team.

Scandia, Inc., is a commercial vessel management company located in the New York Metropolitan area and is part of a family of firms including Scandia Technical; International Tankers, Ltd.; Global Tankers, Ltd.; Sun Maritime S.A.;Adger Tankers AS; Leeward Tankers, Inc.; Manhattan Tankers, Ltd.; and Liuʼs Tankers, S.A. The companyʼs current market niche is the commercial management of chemical tankers serving the transatlantic market with a focus on the east and gulf coast of the United States and Northern Europe. This three-part case describes the commercial shipping industry as well as several mishaps that the company and its President, Chris Haas, have had to deal with including withdrawal of financial support by creditors, intercorporate firm conflict, and employee retention. Part A presents an overview of the commercial vessel industry and sets the stage for Parts B and C (to be published in the Spring 2011 issue) where the firmʼs operation is discussed.

Scandia, Inc., is a commercial vessel management company located in the New York Metropolitan area and is part of a family of firms including Scandia Technical; International Tankers, Ltd.; Global Tankers, Ltd.; Sun Maritime S.A.;Adger Tankers AS; Leeward Tankers, Inc.; Manhattan Tankers, Ltd.; and Liuʼs Tankers, S.A. The companyʼs current market niche is the commercial management of chemical tankers serving the transatlantic market with a focus on the east and gulf coast of the United States and Northern Europe. This three-part case describes the commercial shipping industry as well as several mishaps that the company and its President, Chris Haas, have had to deal with including withdrawal of financial support by creditors, intercorporate firm conflict, and employee retention. Part A, which was published in the Fall 2010 issue, presented an overview of the commercial vessel industry and set the stage for Parts B and C where the firm℉s operation is discussed.

The purpose of this paper is to explore the concept of “common sense” and to distinguish it from uncommon sense as it applies to managerial decision‐making under conditions of task uncertainty. The paper enunciates the definition of common sense decision‐making and develops the concept of “uncommon” sense making. A typology of common sense is put forth, and a case study is used to illustrate it in practice.

This is a conceptually developmental paper, which explores and develops the concept of uncommon sense through literature review and typology development. A mechanistic, or internally driven, decision approach is compared with an organic, externally driven one, and the question of how common sense is related to these approaches in varying task uncertainty conditions is explored. A short case study is used as an illustration of the practical managerial implications under low task certainty conditions.

The concepts of MCS (common sense) and MUS (uncommon sense) are established, as well as O and M errors. It is suggested that within a mechanistic approach MCS is most appropriate in conditions of high task certainty. Within an organic approach MUS is most appropriate in conditions of low task certainty. An O error occurs when a mechanistic approach is taken, using common sense, under low task certainty. Lack of appropriate resources deems such an approach unsuitable. An M error occurs when a more risky organic approach (MUS) is taken when resources exist to make a common sense decision.

Increasing globalization, work ambiguity, and task complexity, introduce a need for greater managerial adaptability and speed. MUS may therefore play an increasingly greater role in organizational decision‐making as managers seek answers to questions generated by new and unique situations where existing decision rules may not apply.

The theoretical framework offered in this paper looks at the increasingly common situations in which “thinking outside the box” is essential for sound decision making. It suggests a taxonomy that allows for exploration as well as application of “uncommon sense”‐based theory in situations that require such innovative thinking. It takes a significant step in the theoretical and practical understanding of the very relevant issues of inspiration, adventure and creativity in managerial decision making today.

A case can be made that, to some extent at least, the marketing discipline has not kept pace with the practice of international marketing. Recognizing that internationalization is a dynamic process that may vary across the business of marketing, the development of marketing thought, the direction of marketing education, and the marketing research process, this paper explores that premise. Then, given the current emphasis on the integration of business activities on a worldwide basis, it suggests an interdisciplinary approach, grounded in the concept of market imperfections and internalization theory, to deal with the major challenges that now confront international marketing scholars.