RE: What happens if you don't specify a Search Record ...
You can specify a dummy search record called - INSTALLATION and the component can be saved. There won't be any search option for the page. It will directly take you to the contents on the page
RE: What happens if you don't specify a Search Record ...
The search record has to be specified else component definition cannot be saved. If the component design is such that no search record is needed to be specified then give the search record as INSTALLATION . It directly loads the actual page without going to the search page with the information on the page referring to the user who is currently logged in to the peoplesoft portal.