Advances in information technology have led us to rely on easy communication and readily available information--both in our personal lives and in the life of our nation. For the most part, we have rightly welcomed these changes. But information that is readily available is available to friend and foe alike; a system that relies on communication can become useless if its ability to communicate is interfered with or destroyed. Because this reliance is so general, attacks on the information infrastructure can have widespread effects, both for the military and for society. And such attacks can come from a variety of sources, some difficult or impossible to identify. This, the third volume in the Strategic Appraisal series, draws on the expertise of researchers from across RAND to explore the opportunities and vulnerabilities inherent in the increasing reliance on information technology, looking both at its usefulness to the warrior and the need to protect its usefulness for everyone. The Strategic Appraisal series is intended to review, for a broad audience, issues bearing on national security and defense planning.

Change--in international relations, in technology, and in society as a whole--has become the idiom of our age. One example of these changes has been an increasing recognition of the value of air and space assets for handling nearly every contingency from disaster relief to war and, onsequently, increasing demand for such assets. These developments have created both challenges and opportunities for the U.S. Air Force. This, the fourth volume in the Strategic Appraisal series, draws on the expertise of researchers from across RAND to explore both the challenges and opportunities that the U.S. Air Force faces as it strives to support the nation's interests in a challenging technological and security environment.Contributors examine the changing roles of air and space forces in U.S.national security strategy, the implications of new systems and technologiesfor military operations, and the role of nuclear weapons in U.S. securitystrategy. Contributors also discuss the status of major modernizationefforts within the Air Force, and the bill of health of the Air Force, asmeasured by its readiness to undertake its missions both today and in thefuture.

Today, the United States possesses military predominance, and American political and economic ideas have broad global appeal. Almost all of the economically capable nations are our allies. Yet the end of the Cold War has also brought an increase in disorder as a result of the rise in ethnic nationalism and the fragmentation of several states. And these are not the only complications in the current strategic situation. The old U.S. grand strategy--its stand against the Soviet Union--has become moot, and a new one must be devised in the face of a changing world. This book discusses this need and examines three possible strategies. It goes on to discuss the complexities of current geopolitical trends and describes the demands these situations might place on the U.S. military and, in particular, the Air Force.

For U.S. defense planners, these are the best of times and the worst of times. On the one hand, with the collapse of our erstwhile Cold War adversary, basic questions of national security strategy are once again in play. In light of this change, there has never been greater scope for reviewing U.S. national objectives and threats to them, creatively weighing these against resources available, and crafting a strategy suitable to new and emerging conditions. At the same time, extraordinary developments emerging from the technology base are opening up possibilities for radically new ways of conducting military operations. Taken together, these trends should spark a wide-ranging set of debates about the best way for this nation to go about protecting and advancing its interests in the future, the roles that military power should play in U.S. national security strategy, and the appropriate size and mix of U.S. military forces. Yet, to date, these debates have seemed constricted, if not stillborn. Perhaps one reason for this is that Americans have not yet embraced a broad set of guiding objectives for U.S. foreign policy and security strategy. Too, the shrinking of the defense budget poses a seemingly endless set of management challenges as we try to downsize the defense establishment without severely disrupting the activities of commanders and forces in the field. Resource constraints have also heightened sensitivities, so that at the level of military force structure and program analysis, it is difficult to escape the feeling that every position is evaluated first through the lens of Service parochialism.

This book presents a range of investment appraisal methods and models to help readers make good investment decisions. Each approach is thoroughly described, evaluated, and illustrated using examples, with its assumptions and limitations analyzed in terms of their implications for investment decision-making practice. Getting investment decisions right is crucial but due to a complex and dynamic business environment this remains a challenging management task.