So, you’ve decided to enable managed navigation and when you press the “Create Term Set” button you get the error:
Failed to Create Term Set: A Default Managed Metadata Service Connection Hasn’t Been Specified
This is occurs when your environment is running Managed Metadata Service and has one or more Managed Metadata Service connections, but none of them have enabled the setting
This service application is the default storage location for column specific term sets.
You’ve just installed and configured a SharePoint server and you fire-up IE on the server to see if everything works…..Oops, IE keeps asking for your credentials and eventually returns a HTTP 401. Then you notice that the sites are accessible from other machines. In this case you’re running into a security measure called the loopback check security feature. See http://support.microsoft.com/kb/896861 for the details.
Here’s how to disable the check just for your specific sites on that machine with a short PowerShell script:
New-ItemProperty -Path "HKLM:\SYSTEM\CurrentControlSet\Control\Lsa\MSV1_0" -PropertyType MultiString -Name BackConnectionHostNames -Value $sites
Here is how to completely disable the Loopback check on Windows using a single PowerShell command:
New-ItemProperty -Path "HKLM:\SYSTEM\CurrentControlSet\Control\Lsa" -Name DisableLoopbackCheck -Value 1 -PropertyType DWORD