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IBEAR XXXVIII. Fall 2015, Term 1 Strategic Formulation for Competitive Advantage GSBA 529. Section 15730 August 17- October 7 M W: (1:30 – 4:00 pm) Professor: Judith Blumenthal, Ph.D. Office: BRI 307H Office Phone: 213-740-0734 Office Hours: Wednesday: 4:15 p.m. – 5:15 p.m. or by appointment E-mail: judith.blumenthal@marshall.usc.edu

COURSE DESCRIPTION

This course is designed to introduce the concepts, tools, and principles of strategy formulation and competitive analysis. Specifically, it focuses on the information, analyses, and skills and business judgment that managers must use to craft strategies, position their businesses and assets, and define firm boundaries so as to maximize long-term profits in the face of uncertainty and competition. The strategy course is also designed to help you develop “the general management perspective,” which is the appropriate vantage point for making decisions that affect long run business. The key strategic business decisions of determining and shaping organizational purpose to evolving opportunities, creating competitive advantages, choosing competitive strategies, securing and defending sustainable market positions, and allocating critical resources over relatively long periods of time in pursuit of specific goals and objectives can only be effectively made by viewing a firm holistically, and over the long term. This is an integrative course in two respects. First, it takes a broad view of a firm’s environment that includes customers, suppliers, technology, economics, capital markets, competitors, special interest groups, and government. Thus it draws together ideas from multiple disciplines. Second, the course takes the perspective of the firm as a whole and examines how policies in each functional area can be integrated into an overall company strategy. LEARNING OBJECTIVES Theory and Concepts: The central concept of this course is that of competitive strategy. Definitions abound, but they all share some sense of the allocation of critical resources over relatively long periods of time in pursuit of specific goals and objectives. Strategy can be usefully thought of as the comprehensive alignment of an organization with its future environment. Successful strategies exploit external conditions, entrepreneurial insights, and internal resources, seeking configurations of product activities, prices, and technologies that offer opportunities for sustainable competitive advantage. Success, however, depends not only on the soundness of the strategy, but also on its effective implementation through appropriate organizational and administrative choices. In the end, unforeseen external factors may cause a well-conceived and executed strategy to fail, in spite of its initial wisdom -- but a poor strategy badly executed increases the chances of failure. Understanding the concept of competitive strategy formulation is a primary educational objective of this course. This will involve mastering an array of economic, strategic, and organizational concepts and theories, and acquiring an integrative general manager’s point of view. The course will cover theories for in-depth industry and competitor analysis, for anticipating and predicting future industry developments, and for examining the impact of change (in technologies, tastes, government regulations, global competition, and other important environmental forces) on competition and industry evolution. The course will also examine the economic underpinnings of competitive

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advantages, and the fundamental conditions that allow firms to conceive, develop, and sustain, advantageous strategic positions. Analytical Skills: Theoretical concepts are a great aid to understanding, but by themselves they do not help resolve real business problems or challenges. Also needed are analytical skills and techniques that can be applied to the data to question and validate the facts and premises assumed in the theories. A second educational objective is to further increase each student’s inventory of useful analytical skills and tools. Some of the tools are quantitative -- analyzing financial statements, computing comparative buyer costs, and calculating the effects of scale and learning on production costs, for example -- while others are more qualitative. Learning how to apply these techniques, and, more importantly, when to apply them is a key objective of the course. In learning to assess a business and its problems or opportunities, this course will allow you experience in conducting comprehensive strategic analyses. That is, identifying firms’ strategies and testing them for consistency, recognizing potential entrepreneurial opportunities and strategic challenges/problems, selecting and establishing competitively protected market niches, identifying competitive advantages and shaping defenses to circumvent the advantages of rivals, formulating and implementing internally consistent business strategies, and designing efficient and effective organizations. Rhetorical Skills: The best analysis in the world will have little effect if it cannot be communicated to others. Managers must be able to articulate their views coherently and persuasively, and they must be skilled at understanding and critiquing other points of view. Management is a "verbal sport;" perhaps 90% of a typical manager's day is consumed by oral communication. Time is often scarce. You must learn to make convincing arguments and to make them quickly, or the merits of their ideas are likely to become simply irrelevant. This skill takes practice, and we will place a great deal of emphasis on it in class. Wisdom: Much of the knowledge that successful managers employ consist of "rules of thumb" about what issues are likely to be important in certain kinds of business situations. These rules of thumb, or heuristics, are often implicit in the thinking of people who have never bothered to articulate them explicitly. A fourth goal of this course is to help you build up your set of useful "stories" and heuristics for your future managerial careers. In this course we are as much interested in developing an appreciation for the art of management as we are in understanding the science of management. Tools alone may make you a good analyst; they will not make you a good strategist. While the ability to master analytical models, frameworks, and tools is essential, ultimate success is more strongly predicated on prescient judgment, entrepreneurial insight, vision, and a willingness to forcefully act with conviction. COURSE FORMAT In order to achieve the objectives of the course, we will devote much of our class time to the analysis and discussion of business cases. Lectures will be given to elaborate on key theoretical models and frameworks or to reinforce crucial concepts. These lectures will aid in our case analyses. Cases provide a natural test-bed for theory and provide vivid examples that aid memory of concepts. While nothing can surpass first hand personal industry and managerial experience as a basis for analysis and decision-making, case analysis is an indispensable proxy for the kind of knowledge that can only be gained through years of experience and research. A mix of old and new business cases has been selected on a range of companies from a variety of industry settings. Each case is intended

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to teach us something specific; yet each can teach many things. We will not attempt to exhaust each case of all its learning experiences, but rather build up a kit of analytical tools, skills and insights progressively over all the selected cases. There are other reasons for employing the case discussion method of instruction. First, it allows you to develop skills at problem definition in addition to problem solving. Cases typically do not have an obvious set of tasks whose performance will lead to mastery. Rather, they force you to sift through a mass of information, some of it irrelevant or contradictory, in order to identify the central or strategic issues. Second, the case method gives you a chance to deal with ambiguity. Most cases do not have obvious "right" answers. Managers must be able to function in situations where the right answer is not known, without falling into the trap of assuming that any answer is as good as another. Some analyses and proposed strategies are clearly wrong, and some are better than others. A popular phrase in case analysis classes is "Sometimes there are no right answers, but there are usually a lot of wrong answers." Case discussion techniques provide a chance to learn the meaning of analytical rigor in situations that are more ambiguous than black-and-white problems. These rationales are discussed because the case method is unfamiliar to many of you and can cause some initial confusion. There will be many times when I, as your instructor, will not reveal my own opinions about a particular issue, and there will be cases that will not end up neatly packaged with an answer. You may discover that your preparation misses key points of a case, especially at first. This is a normal part of the learning experience. While we will direct class discussions, the quality of your learning experience will be directly determined by: (1) your degree of preparation, active listening, and participation, and (2) your classmates' preparation, listening, and participation. Some will not agree with you, and you may be asked to defend your argument or change your mind. So long as criticism is directed at arguments and not at individuals, is relevant to the issues at hand and coherently argued, it is very much welcomed. Case Preparation: Because this course relies heavily on case material, intensive preparation before class and participation in class are required to ensure the course's success. Please read Appendix B of this syllabus carefully for thorough explanation and expectations regarding the case analysis process.

REQUIRED MATERIALS Syllabus: Read this syllabus very carefully, and refer to it throughout the term!

Required Text: Grant, Robert, Contemporary Strategy Analysis, (Eighth ed), Wiley, 2013.

(NOTE: Professor Voigt will also use this textbook for course in Global Strategy.)

Case Package: Assigned cases and readings will be available from the IBEAR Program Office. Blackboard (BB):

I use BB as my primary method of communicating with you. E-mails sent to the class originate from the Blackboard system, and will also be archived as Announcements on Blackboard. In addition to direct communications, you will also find other important materials posted to BB, including any syllabus updates, information about class sessions, including preparation requirements, additional required and supplemental reading, as well as news posts. You should check BB daily for any new information posted relevant to upcoming sessions.

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It is your responsibility to insure that your e-mail address and account settings in Blackboard are correct for you to receive messages. Please insure that your BB account settings forward your messages to your preferred internet provider (IP) account such as your correct USC e-mail address, AOL, G-Mail, Hotmail, etc. You can access BB by going through the “My Marshall” portal http://mymarshall.usc.edu. You will need your UNIX password.

Ares: USC Electronic Library Reserves:

Additional readings are available on the university electronic course reserves (ARES).

Wall Street Journal: You should read the daily Wall Street Journal for this class. • To order the Wall Street Journal at the student discount price, use the following link:

WSJ.com/studentoffer • After you type in your payment and delivery information, you will need to provide

School information. USC's zip code is: 90089.On the scroll bar, USC is listed as: U STHRN CAL LS ANG

• You will then scroll and select "referring professor." • Subscription, print and online, will start very quickly.

GRADING SUMMARY

Participation and Commitment 15% Quizzes (Total) 35% Individual Case Brief 15% Group Case Analysis 20% Final Group Project 15% Total 100%

Final grades represent how you perform in the class relative to other students. Your grade will not be based on a mandated target, but on your performance. Historically, the average grade for this class is about a (B+). Class Participation And Commitment Course participation and commitment will be evaluated based on in-class participation and performance on quizzes. In-class participation: Case courses work well, and are enjoyable effective learning experiences, if everyone is an active productive participant. To encourage you to participate actively in class, I will call on people on both a random (involuntary) and a rotating voluntary basis, and class participation will provide a material portion of your grade. I do this for several reasons. First, it improves grading accuracy. I can learn a great deal from hearing you share your ideas in a long series of classes. I keep track of participation.

But perhaps more importantly, grading class participation motivates class participation, and having highly interactive class sessions helps the learning process. Active class participation encourages students to be well prepared and thus to become active, rather than passive, learners. Participation provides students with the opportunity to gain from the experiences and talents of everyone in the class. And class participation helps students improve their oral communication skills. This is important because research shows that people in

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business tend to spend very little time reading and even less time writing reports. A great deal of managers’ and other professionals’ interactions with others are through oral communication.

Class participation evaluations will be based primarily on the quality of the contributions to our classroom discussions. To help you understand what I am looking for regarding class participation, I have listed below some questions I will try to answer in evaluating class participation:

(1) Does the class member make points that are especially pertinent to the discussion? Do they

increase the understanding of the class or are they simply a regurgitation of the problem or case facts?

(2) Is there continuity in one's contribution from what has been said previously during class, or are

the comments disjointed, isolated, or tangential? The best class contributions are those that reflect not only excellent preparation, but also good listening, interpretive and integrative skills.

(3) Do the comments reflect a willingness to put forth new, challenging ideas or are they always

agreeable and "safe"? (4) Is the participant able and willing to interact with others by asking questions, providing

supportive comments or challenging constructively what has been said?

I will evaluate participation on an ordinal scale, the end points of which can be described as follows: Outstanding Contributor: This person's contributions reflect exceptional preparation, and the ideas offered are always substantive and provide major insights and direction for the class. If this person were not a member of the class, the quality of the discussions would be diminished significantly. Unsatisfactory Contributor: This person may be absent from class or someone who rarely participates in class discussion. Alternatively, this person’s contribution in class reflects inadequate preparation and/or understanding. Ideas offered are not substantive and provide few, if any, insights and rarely or never a constructive direction for the class. Integrative comments and effective arguments are absent. Class comments are either obvious, isolated from the main discussion, or confusing to the class.

While attendance per se is not graded, you cannot contribute to your participation grade without being in class. There are no excused absences. You are accountable for your active participation in each class session. Habitual lateness and/or leaving class early, for whatever reason, will be noted as evidence of low course commitment and penalized. I expect professionalism in this respect. Please notify me by email of any unavoidable absences in advance. Also, if an emergency has prevented you from thorough preparation in a particular class, please let me know in advance to spare us both the embarrassment of my calling on you. Finally, a few words about classroom etiquette: An atmosphere of mutual respect is in order. So please... • arrive at class on time: late arrivals are disruptive to your fellow classmates and to the conduct of the

class; • turn off your cell phones before you enter the classroom; • do not engage in side conversations during class; • do not pack up and leave towards the end of the class until it is clear the class is over. Multiple Quizzes I will give multiple, unannounced short quizzes throughout the term, which will consist largely multiple choice and short answer questions. Quizzes will generally occur at the beginning of class. In computing

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quiz portion of the final grade, I will drop the lowest score for each student. No makeup quizzes will be given. You must bring a #2 pencil with eraser and a pen to every class in order to be prepared for quizzes. Individual Case Brief: One individual case brief has been assigned for this course. (Please see Course Schedule.) Your paper is due at the beginning of class. Late papers will be penalized 1/3 of a letter grade for missing the deadline plus1/3 of a letter grade per day late. The individual case brief is limited to two typed page (doubled-spaced, 1 inch margins and 12 point font) and up to three appendices, appropriately referenced exhibits. Exhibits will depend on the specifics of the assignment (e.g., 5 force analyses, value chain analyses, financial analyses—what to attach depends on the nature of the assignment). The individual case brief must be the result of entirely individual work. No collaboration of any form is permitted. Don’t use the internet or any other source to search for any additional resources to help with this project—just rely on the case and other class materials (i.e., the readings and your own class notes). More specific information about the case brief is provided in Appendices B, C, C2, and D of this syllabus. GROUP PR OJECT Group Case Analysis: As part of a five-member group, you will prepare a written case analysis. The schedule indicates the case for which your team will prepare written case briefs. Please see Appendices B, C1, C2, and D for additional information. You are likely to be called upon in class to present some aspects of the cases for which you have prepared a written analysis. Final Project: Group Papers and Presentation: Each group will prepare a written report and deliver a Power Point presentation, related to the “Doing Business in Southeast Asia” program. Reports, including a paper (maximum 8 pages) AND slides for a Power Point presentation (no more than 8 slides) will be turned in Wednesday September 30—hard copy to me, soft copy to Ivonne. Power Point presentations by all groups will be made to the class during the final exam period, from 9:00 am to 12:00 pm on Wednesday October 7. Time limits for Power Point presentations will be announced. Details of the final project appear in Appendix E. You must complete all course requirements to receive a passing grade for the course. COURSE AND MARSHALL GUIDELINES Formatting of assignments All assignments must be typed on plain white 8 ½ x 11” paper, double-spaced in 11 or 12-point font with one-inch margins around the page. All assignments must include a cover page with student name(s), numbers(s), and e-mail address(es), assignment title, and course title and number. All text material (except tables, graphs, visuals, or references) must be double-spaced. All pages, including slides, must be numbered. Papers should be fastened with a staple in the upper left corner—no folders please. Creative formatting may result in penalty. NOTE: DO NOT INCLUDE COPIED PAGES FROM ASSIGNED READINGS OR CASES AS APPENDICES. These may be included as bibliographic references. Power Point slides submitted as hard copy MUST be full-sized and legible. Also, there must be sufficient white space for me to make comments. Number all slides. Bibliographic references must be provided, and any appendices must support and be referenced in the body of your report.

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Assignment submission deadlines Assignments must be turned in on the due date/time specified and in the manner specified (hard copy/online/etc.). Any assignment turned in late, even if by only a few minutes, will receive a grade deduction. Late papers will be penalized 1/3 of a letter grade for missing the deadline plus1/3 of a letter grade per day late. Group presentations MUST be given on the date assigned in order for credit to be received. You must complete all required assignments to pass this course. Final examination and required assignments. A student must take the final exam AND complete all other course requirements to receive a passing grade for the course. Evaluation of your work You may regard each of your submissions as an “exam” in which you apply what you’ve learned according to the assignment. I will do my best to make my expectations for the various assignments clear and to evaluate them as fairly and objectively as I can. If you feel that an error has occurred in the grading of any assignment, you may, within one week of the date the assignment is returned to you, write me a memo in which you request that I re-evaluate the assignment. Attach the original assignment to the memo and explain fully and carefully why you think the assignment should be re-graded. Be aware that the re-evaluation process can result in three types of grade adjustments: positive, none, or negative. Return and retention of graded coursework Students who miss class sessions when assignments are returned are responsible for arranging an appointment to retrieve their materials. To keep things fair for future students, I do not allow students to take their quizzes or exams out of the classroom. You may look these over in my office at any time. Final exams and all other graded work which affect the course grade will be retained for one year after the end of the course if the graded work has not been returned to the student; i.e., if I returned a graded paper to you, it is your responsibility to retain it. Technology policy Laptop and Internet usage is not permitted during academic or professional sessions unless otherwise stated by me. Use of other personal communication devices, such as cell phones, is considered unprofessional and is not permitted during academic or professional sessions. ANY e-devices (cell phones, PDAs, I-Phones, Blackberries, other texting devices, laptops, i-Pads, and i-Pods) must be completely turned off during class time. Upon request, you must comply and put your device on the table in off mode and FACE DOWN. You might also be asked to deposit your devices in a designated area in the classroom. Videotaping faculty lectures is not permitted due to copyright infringement regulations. Audiotaping may be permitted if approved by me. Use of any recorded or distributed material is reserved exclusively for the USC students registered in this class. No recording and copyright notice It is a violation of USC’s Academic Integrity Policies to share course materials with others without permission. No student may record any lecture, class discussion or meeting with me without my prior express written permission. The word “record” or the act of recording includes, but is not limited to, any and all means by which sound or visual images can be stored, duplicated or retransmitted whether by an electro-mechanical, analog, digital, wire, electronic or other device or any other means of signal encoding. I reserve all rights, including copyright, to my lectures, course syllabi and related materials, including summaries, PowerPoints, prior exams, answer keys, and all supplementary course materials available to the students enrolled in my class whether posted on Bb or otherwise. They may not be reproduced, distributed, copied, or disseminated in any media or in any form, including but not limited to all course note-sharing websites. Exceptions are made for students who have made prior arrangements with DSP and me.

Students with disabilities

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Any student requesting academic accommodations based on a disability is required to register with Disability Services and Programs (DSP) each semester. A letter of verification for approved accommodations can be obtained from DSP. Please be sure the letter is delivered to me as early in the semester as possible. DSP is located in STU 301 and is open 8:30 a.m. – 5:00 p.m., Monday through Friday. The phone number for DSP is (213) 740-0776. Academic conduct Plagiarism – presenting someone else’s ideas as your own, either verbatim or recast in your own words – is a serious academic offense with serious consequences. Please familiarize yourself with the discussion of plagiarism in SCampus in Section 11, Behavior Violating University Standards https://scampus.usc.edu/1100-behavior-violating-university-standards-and-appropriate-sanctions/. Other forms of academic dishonesty are equally unacceptable. See additional information in SCampus and university policies on scientific misconduct, http://policy.usc.edu/scientific-misconduct/. Discrimination, sexual assault, and harassment are not tolerated by the university. You are encouraged to report any incidents to the Office of Equity and Diversity http://equity.usc.edu/ or to the Department of Public Safety http://capsnet.usc.edu/department/department-public-safety/online-forms/contact-us. This is important for the safety whole USC community. Another member of the university community – such as a friend, classmate, advisor, or faculty member – can help initiate the report, or can initiate the report on behalf of another person. The Center for Women and Men http://www.usc.edu/student-affairs/cwm/ provides 24/7 confidential support, and the sexual assault resource center webpage https://sarc.usc.edu/reporting-options/ describes reporting options and other resources. Support Systems Students whose primary language is not English should check with the American Language Institute http://dornsife.usc.edu/ali, which sponsors courses and workshops specifically for international graduate students. Emergency preparedness/Course continuity In case of emergency, and travel to campus is difficult, USC executive leadership will announce an electronic way for instructors to teach students in their residence halls or homes using a combination of Blackboard, teleconferencing, and other technologies. For additional information about maintaining your classes in an emergency please access: http://cst.usc.edu/services/emergencyprep.html Please make sure you can access this course in Blackboard and retrieve the course syllabus and other course materials electronically. You should check Blackboard regularly for announcements and new materials. This preparation will be crucial in an emergency. USC's Blackboard learning management system and support information is available at blackboard.usc.edu. ABOUT YOUR PROFESSOR Judith Blumenthal has published, taught, and consulted in the areas of: strategic management; corporate governance; organizational design, development and leadership; strategic alliances; and the management of retail and services firms. She has also served as a senior corporate executive and a university administrator. Dr. Blumenthal was Associate Dean of the Marshall School of Business (January 1996 through March 2000) and USC’s Chief Alumni Officer and Executive Director of the USC Alumni Association (April 2000 through June 2006). She currently serves on the Board of Directors of the California Council on Economic Education, where she has been Chair of the Board Affairs Committee and a member of the Executive Committee. She is

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also a member of the USC Radio (KUSC) Advisory Board. She was a member of the Board of Directors of Guess? Inc. (2007 to 2013) and also served as Chair of the Nominating and Governance Committee and a member the Audit and Compensation Committee. She previously served as a member the Community Advisors for the Natural History Museum of Los Angeles County, a member of USC Alumni Association Board of Governors, and a member of the Board of Directors of the Council for Advancement and Support of Education (CASE), District VII. She is a member of Women Corporate Directors. Judith Blumenthal received her bachelor's degree in English from Hunter College of the University of New York, and her M.B.A. and Ph.D. degrees in Business Administration from USC.

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COURSE SCHEDULE Cl Day Date Topic

Class Activities Txt. Ch.

Assigned Readings: CP=case packet; ARES-library electronic reserves

Assigned Cases (in CP)

Course Introduction: The Concept of Strategy and Role of the General Manager 1 M 8/17 Course Introduction

The Concept of Strategy How to Analyze Articles and Other Readings How to Analyze Cases Lecture/Discussion Case Preview: Wal-Mart

1 Review entire syllabus Syllabus: Appendix A: Guide to Article Analysis Syllabus: Appendix B: Guide to Case Analysis CP: Porter, M., “What is Strategy?”(4134) CP: Collis and Rukstad, “Can you say what your strategy is?” (11793)

Wal Mart Stores, Inc (794-024) & Wal-Mart Update, 2011 (711-546) (Case Preview: Bring cases to class, but do not read in advance)

2 W 8/19 The General Manager as Strategist Lecture/Discussion Case Analysis: Wal-Mart

2 CP: Montgomery, C. “Putting Leadership Back Into Strategy” (R0801C)

Wal Mart Stores, Inc (794-024) & Wal-Mart Update, 2011 (711-546)

Module I: Industry & Competitive Analysis 3 M 8/24 Industry and Competitive Analysis

Lecture/Discussion Case Analysis: Cola Wars

3 Cola Wars Continue: Coke and Pepsi in 2010 (711-462)

4 W 8/26 Industry and Competitive Analysis, cont. Lecture/Discussion Case Analysis: Netflix in 2011 Individual Case Briefs Due (A) (Designated Students—A)

4 Netflix in 2011 (615-007)

Module II: Internal Analysis and Competitive Advantage 5 M 8/31 Resources and Capabilities

Sources of Competitive Advantage Lecture/Discussion Case Analysis: Trader Joe’s Individual Case Briefs Due (B) (Designated Students—B)

5,7 Trader Joe’s (714-419)

6 W 9/2 Sources of Competitive Advantage, cont. Lecture/Discussion Case Analysis: Patagonia Individual Case Briefs Due (C) (Designated Students—C)

ARES:Barney, J.“Organizational Culture…” OPTIONAL READING ARES: Waterman et al. “Structure is Not Organization”

Patagonia (711-020)

M 9/7 LABOR DAY—NO CLASS 7 W 9/9 Blue Ocean Strategy

Case Analysis: Cirque du Soleil CP: Kim & Mauborgne,“Blue Ocean

Strategy” (CMR312) Cirque du Soleil (403-006)

Module III: Industry Evolution and Competitive Dynamics 8 M 9/14 Industry Evolution

Lecture/Discussion Case Analysis: Apple 2012

8, 9 CP: Isaacson, W. “The Real Leadership Lessons of Steve Jobs” (R1204F)

Apple Inc. in 2012 (712-490)

9 W 9/16 Competitive Dynamics and Rivalry Lecture/Discussion Case Analysis: Ryanair Group Case Analysis Due (Groups “X”)

4 Rev. 91-98

Dog Fight Over Europe: Ryanair (A) (700-115)

10 F 9/18 Business-level Strategy Wrap-up TBA

Module IV: Corporate Strategy and Course Wrap-Up 11 M 9/21 Vertical Integration and Diversification

Lecture/Discussion Case Analysis: Newell Company Group Case Analysis Due (Groups “Y”)

10, 11, 13

Newell Company: Corporate Strategy (799-139)

12 W 9/23 Mergers and Acquisitions; Alliances Lecture/Discussion Case Analysis: Walt Disney Group Case Analysis Due (Groups “Z”)

14, 15

Walt Disney Co: The Entertainment King (701-035)

13 M 9/28 Corporate Governance Lecture/Discussion Case Analysis: Jonathon Elderslie

ARES: Thain, D. and Leighton, D. “The Director’s Dilemma: What’s My Job?”

Jonathon Elderslie and the Board Decision (#9B03M031)

14 W 9/30 Trends in Strategic Management Course Wrap-up and Review Lecture/Discussion Final Group Papers And Slides Due

16 CP: Wessel, M. and Christensen, C. “Surviving Disruption” ( R1212C)

15 W 10/7 FINAL GROUP PRESENTATIONS (9:00-12:00)

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APPENDIX A: GUIDE TO ARTICLE ANALYSIS

The following set of questions is provided to guide your analysis of the readings assigned this term. Please use this guide to structure your article analyses. 1. What is the purpose or objective of this article? (To challenge or debunk a well-accepted

view; to contribute to a body of theoretical work; to explain a puzzling exception; to update theory in response to current phenomena; etc.)

2. What is the article’s basic argument/thesis? Its major findings/ conclusions? 3. What is the nature of evidence presented in support of the argument/ thesis? (Impressionistic,

theoretical, empirical, etc.) Are the conclusions well supported? 4. Are there important assumptions, assertions, values, or biases that the author expects us to

accept without support? Are these explicit or implicit? 5. How does this article contribute to your overall understanding of the subject? How does it

relate to other articles you have read and to your own knowledge and experience? 6. How useful is the article for practicing managers? 7. Does the article leave you with any remaining problems or concerns?

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APPENDIX B: GUIDE TO CASE ANALYSIS

PURPOSE Case analysis helps students to develop the kinds of skills that are essential to success in business organizations: identification and analysis of complex business problems, application of judgment in developing solutions, interactive problem-solving, and persuasive presentation of conclusions. THE NATURE OF BUSINESS CASES Business cases are detailed descriptions of real company situations in which management is confronted with important issues or problems. Students are required to (1) identify problems or key issues that management needs to address, (2) assemble relevant data, (3) perform appropriate analysis and evaluation, and (4) propose an action plan and a set of recommendations that address the issues identified. Cases contain a rich variety of data, including company background and performance, environmental forces, and points of view of key decision makers. Not unlike real world situations, cases will not contain all the data you would like. Your challenge is to do the best job you can with the information available. Most of these cases present a well-rounded picture of a business situation: they are not merely illustrations designed to exercise or test your knowledge of a given article or chapter of a textbook. As a result, the concepts needed to analyze the case and to formulate an appropriate action plan are not narrowly bounded by a textbook or specific readings. In many cases, you will find it useful to invoke concepts from earlier in the course, from other courses, or from your own experience. Note: Please do not go outside the materials I have provided, since that will undermine the quality of the class discussion. HOW TO APPROACH A CASE: KEY QUESTIONS Think of yourself as a consultant to the “client” in the case. For each case, imagine that you have been given a chance to study an organization and come up with a diagnosis and a set of recommendations. As with many real-world situations, the issues to be resolved may not be obvious. Study questions are provided, but these are offered only to get your thinking going — they are not an agenda for your analysis or for our discussion. It is for you to identify the specific issues posed by the case, decide how they can be best addressed, and come to each class prepared to present and defend your own analysis. For each case, clearly identify the “client.” For whom are you performing the analysis and making recommendations? This is the person who will need to implement your recommendations (assuming s/he accepts them!) The basic questions for all cases are essentially the same: 1. What is the most critical challenge the client and the organization need to address? Why is it

important to address this challenge? 2. What makes addressing this challenge difficult? 3. What is your analysis of the underlying, or “root” issues responsible for the situation that make it

difficult to address? What evidence do you have that this is, in fact, the underlying, or “root,” cause? (Digging for the source of the challenge is where the major part of your analysis will focus!)

4. What alternatives does the organization have in tackling these issues, and which alternative makes most sense? Make sure that you propose just a few alternative solutions that actually address the

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underlying issues you have identified! We’re not interested in a laundry list of good ideas you have for the company. We are interested in solving a particular issue.

5. What specific action plan would you recommend? Why? HOW TO APPROACH A CASE: THE PROCESS The following approach to case analysis has proven helpful.

A. GETTING THE LAY OF THE LAND 1. Read the case quickly to get a sense of layout and form preliminary hypotheses about major

issues. Initial impressions can be revised, but this groundwork will provide structure and direction for a more in-depth reading.

2. Read assignment questions and think about where in the case you might discover answers. Assignment questions are provided to help guide your analysis.

3. Reread the case carefully, annotating, highlighting, and distinguishing important information, omissions, and questions.

a. Take notes that sort information, facts, and observations under a number of relevant headings.

b. Try to formulate theories or hypotheses about what is going on as you read ("the company’s exposure to xyz risk as increased as it has…"), modifying or rejecting them as new information surfaces.

B. IDENTIFICATION OF PROBLEMS/ISSUES AND ANALYSIS QUESTIONS 1. Now decide what the action issues really are. These are the one or two key issues and

problems that your in-depth analysis will address. Remember, every issue in the case will not rise to the level of a key issue. The true underlying problems/key issues will become further clarified as you gain greater insight through analyses and additional review of the case.

2. Decide exactly what you have to analyze in order to solve the key issues you have identified. Asking focused analysis questions will provide direction on where and how to spend your time. Remember, ask questions whose answers will inform what action needs to be taken.

C. PERFORM ANALYSES

1. Perform quantitative and qualitative analyses to answer the questions you have identified. You will apply appropriate concepts and models in this section. This is not a “dump” of all models you know, but rather an opportunity to apply particular concepts, models, and analytical tools that will enable you to gain insight and advance your analysis. Your objective is to get beyond the level of problem symptoms to analyze underlying issues and causes.

You will support your analysis with case data and any well-informed assumptions you make about necessary but missing information. Be sure to distinguish between factual data from the case, opinions of actors in the case, and assumptions you make. Use only information that was available at the time the case ends.

2. Integrate the findings of your analysis. Formulate an analytical synthesis which clarifies the

critical issues.

D. ACTION PLANNING 1. Alternatives

Identify and evaluate alternative courses of action. Alternatives must address the issues you have identified and follow logically from your analysis. You will explicitly consider and reject various alternatives, based on criteria you identify as most important. Some alternatives may not be

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effective in addressing the issues you identified, others may cause more problems than they solve or cost more than they are worth, others may not be feasible or acceptable to management (solutions should be compatible with the values and preferences of management and those who will implement them). In formulating alternatives, avoid cop-outs such as: "Hire a new president who can solve the problem," or "Hire a management consultant to solve the problem.”

2. Recommendations and Implementation a. Based on your evaluation of alternatives, decide on a course of action to recommend. Your

solutions must address the challenges you have identified and follow logically from your analysis. Remember: Goals are not recommendations for action. Don’t say, “Improve the culture,” unless you can offer a plan to accomplish it.

b. You will develop a plan by which the desired action may be achieved or implemented within the constraints encountered in the situation. This is a good final “acid” test. If you solution is not “do-able,” it is not a good solution.

E. PREPARE NOTES FOR CLASS DISCUSSION WRITTEN REPORTS An effective management report is a document which clearly and concisely communicates the information a manager needs to carry out his or her primary function -- decision making. Your report should be clear and tightly written, unembellished with flowery language, hyperbole, or unsupported personal opinions. Do not waste space summarizing information already found in the case. Assume the reader is already completely familiar with the situation as described. Refer to specific case data when necessary to support your analysis or conclusions. All written reports should be carefully edited. Appendices, including tables, charts, diagrams, financial analyses, etc. may be used to support your analysis. Be sure that any appendices are referenced in the body of your report. All written reports in the course MUST be double-spaced.

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APPENDIX C

CASE BRIEF ASSIGNMENT Case briefs are limited to two 8 ½ x 11” pages of text, double-spaced, 11 or 12-point font, 1” margins. You may also include up to three appendices, but any appendices must be referenced in the 2-page narrative portion of your report. All reports must include a separate cover page with your name and e-mail address, assigned student number, assignment title, and course title and number. Pages should be numbered in the lower right corner (no page number on cover page). Papers should be fastened with a staple in the upper left corner—no folders please. Please show word count at the end of the individual case brief, not including cover sheet, appendices, or bibliography. Submission Requirement: You will turn in the written report at the beginning of class on the day your assignment is due. Case briefs will include the following: • Key strategic issues or challenges (not a laundry list of issues!) that face the manager(s), including a

statement of why these issues are important. Refer to class notes and discussion of strategic issues. The issues you identify are the issues your recommendations must address.

• Summary of your analyses. (Please review Appendix B, Guide to Case Analysis.) This section will selectively apply course concepts and models to illuminate the situation and explore the root cause of the issue. In this section, you will cite any appendices you provide.

• Your recommendations to the manager(s), including why the alternative you recommend is superior to other reasonable alternatives. Your recommendations must address the strategic issues you identified and follow logically from your analysis! Be sure to consider suggestions for implementation.

• Appendices. Use of visuals, charts, etc. to illustrate and elaborate your analyses. Apply models sparingly in ways that truly shed light on the situation. Do NOT copy tables, charts, or any visual from text, reading, or cases for appendix. These may be cited in references.

• References/Bibliography. Complete references and bibliography are required. Use APA Guidelines.

Instructions can be found at http://libguides.usc.edu/APA-citation-style Remember: Do not rehash facts from the case.

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APPENDIX C1 WRITTEN GROUP CASE ANALYSIS

WRITTEN REPORT: The content of your written group case analysis will be essentially similar to the content of the case brief, but the format of this report will allow you to develop and express your points more fully. Remember, all reports must include a separate cover page (cover page not included in page count) with assignment title, course title and number, and each team member’s name, assigned student number, and e-mail address. Use 8½ x 11” paper, double-spaced, 11 or 12-point font, 1” margins, single sided printing, page numbering in lower right corner. (no page number on cover page). Papers should be fastened with a staple in the upper left corner—no folders. Maximum page limits: 2 pages for executive summary; 10 pages for body of report (including all sections— issue identification, analysis, recommendations/implementation, conclusion); maximum 6 appendices; no specific page limit for list of bibliographic references. Please show separate word counts at the end of the executive summary and the body of the report. Submission Requirement: You will turn in the written report at the beginning of class on the day your report is due. And you will turn in hard copy of your peer evaluations to me at the beginning of the class AFTER your group case analysis is due. The group case analysis will consist of: Executive Summary Maximum--two double-spaced, typewritten pages. Content and format of executive summary will be similar to case brief:

• Issue/challenge • Identification of root cause and summary of analyses • Recommendations, with rationale.

Body of Report.

• Issue. Here you should start by identifying the key issue or challenge facing the client. This is the problem to be resolved, so it is important that you state the challenge in a way that your client will immediately recognize as an accurate statement of the problem at hand. Your statement of the challenge creates a “shared context” with your client.

• Analysis. Having identified the challenge, your next task is to “peel the onion” another few layers

to identify and analyze the root issue facing the client.

External analyses: Consider key industry characteristics -- KSFs; trends; industry economics; five forces; major competitors; who is winning and who is losing? etc. Internal Analysis: Include background and contextual info; current position (including current operating and share price data); internal capabilities and areas of concern. Use models selectively to illuminate the situation and illustrate your points. Do NOT provide a “model dump.” Think of this as performing Toyota’s “Five Whys.”[1] The root issue is the factor that makes it difficult for the organization to resolve its challenge successfully. Think of your

[1] As explained on Wikipedia: The problem (or what I am calling the challenge) is that my car won’t start. Ask:

1. Why? - The battery is dead. (first why)

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task as akin to a physician’s: the patient (client) comes in with a whole set of “presenting symptoms” (challenges) — it’s your job to identify the underlying disease (root issue). As with a doctor, a good root issue analysis yields insight that is actionable: actionability is crucial, since the rest of your presentation is going to focus on addressing this issue.

Note that organizations usually face multiple challenges, and for any one of these, there may be more than one root issue. But you simply don’t have time to address more than one challenge and one root issue in a short presentation. The burden is on you to “add value” – as much value as possible – for client by identifying the most critical challenge and the highest-leverage root issue.

Identifying a root issue is often difficult – but it is immensely valuable for your client. In real life, it’s often much more valuable to your colleagues and clients to identify the right question than to find the right answer. Your diagnosis of this root issue should be argued, not just asserted, using the relevant facts of the case and whatever analytic tools seem necessary. Some of the supporting analysis may need to go into an Appendix.

Note too that sometimes the client has a strong opinion as to the nature of their real problem, and that this opinion may be expressed in the case, but you may think their analysis is not accurate. In this situation, you have to convince them that the real problem lies elsewhere. And sometimes the case describes a situation without explicitly identifying any specific challenges at all, perhaps because the client organization is doing very well — in which case, your task will be to identify the deep source of their success and a key source of vulnerability in the future, and what they could do about that.

• Alternatives and Recommendations. Next, you need formulate a strategic

recommendation that can address the root issue facing the client organization and thereby help it meet its challenge. Your strategic recommendation should not be a laundry list of things worth doing: it should define the direction of action that resolves the root issue.

The analysis leading up to this strategic recommendation must be convincing. The key to convincing the client is to recognize that there are lots of points of view in the client organization (and in the class) on how to solve their problem: Your job is to convince us that your analysis is more plausible than the alternatives and that your recommended strategy is more likely to achieve success. The best way to do this is as follows:

o To begin, you should identify two or three fundamentally different, mutually

exclusive, plausible options for tackling the client’s problems that follow logically from your analysis and consider implementation challenges. Laying out these very contrasting strategies is an excellent way to clarify for the client the range of options that might reasonably be considered. In practice, you would want to make sure that your list of alternatives includes the ones likely to be under discussion within the client organization: by explicitly addressing these

2. Why? - The alternator is not functioning. (second why) 3. Why? - The alternator belt has broken. (third why) 4. Why? - The alternator belt was well beyond its useful service life and has never been replaced. (fourth why) 5. Why? - I have not been maintaining my car according to the recommended service schedule. (fifth why, a root cause)

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options, you will be helping your client reach a reasoned consensus. (To repeat: you are looking for mutually exclusive alternatives here, not variants of the same basic idea.)

o Analyze the pros and cons of each alternative using a common set of criteria. A

broad range of strategic and operational factors are potentially relevant, but it is up to you to come up with a small set of key criteria. [2] You should justify this choice of criteria: you can often do that by referring to the priorities implied by the organization’s basic mission and business strategy.

o Explain why you believe your preferred alternative is superior to the others. One

technique is to weight the relative importance of your criteria, score each alternative on each criterion, and calculate an overall score for each alternative. Test your results considering weights and scores for plausible alternatives.

o Implementation Planning. Now you can move to implementation planning, where

you provide your client with a detailed “itinerary” that will enable implementation of your recommended strategy. Depending on the case, you may not have enough data to develop this part of your analysis in great detail, but ideally this is what would appear in this section:

First, you should identify the likely hurdles that would face your client in

pursuing your proposed strategy — and suggest some counter-measures your client could use overcome these hurdles.

Second, you should also identify the risks confronting your strategy — then show the counter-measures that could mitigate these risks, and if they can’t be mitigated, how the client should proceed if these risks do materialize.

Synthesizing this analysis of hurdles and risks and their respective counter-measures, you can propose a sequenced and timed implementation plan, answering the questions: what are the key steps to be done today, next week, next month, next quarter, and next year – and who should be responsible for these activities. This plan will be far more useful if you support it with some reasoning – i.e. explain why you recommend this sequencing and timing rather than another.

Finally, to convince the client that your recommendation is practical, you should consider the overall “bottom-line” – the costs as well as the benefits of your plan of action. If don’t have enough information to ground all the details of your implementation plan in the case data, make plausible assumptions and show us what the plan would look like. The implementation plan often brings to the surface new issues, so you will need iterate back to your issue analysis and strategic analysis.

[2] Note: this course focuses on strategic issues that are by nature deeply ambiguous: our main task is to resolve this ambiguity. These issues are therefore rather different from those you encounter in many other courses, where the essential task is not to resolve ambiguity but to resolve uncertainty and complexity. Where issues are uncertain and complex, we can often resolve them through calculation, even calculations that are themselves very complex; in contrast, where issues are ambiguous, the meaning of our goals and the significance of the facts at hand are in dispute, and calculations therefore do not convince. The way forward here is by reasoned appeal to intuition, not merely calculation, so as to resolve these different meanings and develop a shared understanding. That makes it imperative that the number of evaluation criteria be kept small enough to preserve the power of intuition. For most of us, intuition fails when there are more than three or four criteria in play.

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• Conclusion. Wrap up the body of the paper with a conclusion that reminds the client of your main message.

• Appendices. Use of visuals, charts, etc. to illustrate and elaborate your analyses. Apply models

sparingly in ways that truly shed light on the situation. Do NOT copy tables, charts, or any visual from text, reading, or cases for appendix. These may be cited in references.

• Bibliography. Complete references and bibliography are required. Use APA Guidelines. Instructions

can be found at http://libguides.usc.edu/APA-citation-style

APPENDIX C2 ADDITIONAL GUIDELINES FOR WRITTEN CASE ANALYSIS ASSIGNMENTS

Integrity: For individual assignments, and I expect you to respect USC’s corresponding Academic Integrity standards. Content: Do not repeat case data. Assume that I am familiar with the case as the client would be. The “case questions” provided are just ideas to get you going, not an outline of your written analysis. Grading: You are not graded on whether your recommendation is “right” or “wrong,” but on whether your reasoning is clear and compelling. I will also be grading your writing. Clear writing is as important to your career as clear oral expression. Make sure your writing is technically correct — spelling, grammar, sentence structure, and paragraphing — and that the logic flows clearly and compellingly. Re-write it a couple of times. Page limits: Please note that page limits are maximum limits. You should try to make your paper as concise and coherent as possible. Please show separate word counts at the end of the individual case brief and on both the executive summary and the body of the group case analysis. Exhibits: Exhibits should be used to support your argument with information that can be presented in a table or chart (such as financial analysis, action timelines, etc.) or that would be too detailed for the body of the paper. They should not be simply an extension of the text. Do not repeat case data. Proofreading: Please proofread your paper. It should be of the same quality that you would provide to the management of a business with which you were dealing professionally. (Note: handwritten corrections for typographical errors are acceptable in these assignments.)

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APPENDIX D CASE ANALYSIS QUESTIONS

Wal-Mart Inc. and Wal-Mart Update 1. How would you characterize the industry structure of discount retailing? How favorable is the

structure of this industry? Explain. 2. Identify Wal-Mart’s early strategy, and explain how and why it enabled Wal-Mart to be so successful

in discount retailing. 3. Historically, what have been Wal-Mart’s key sources of competitive advantage? (Be specific.) How

has Wal-Mart operated differently from its rivals? 4. How sustainable are Wal-Mart’s competitive advantages? Where is Wal-Mart’s advantage most

sustainable? What are the bases of sustainability? 5. What are the biggest threats to Wal-Mart’s continued success? Will Wal-Mart’s business model be

superseded by another retailing concept? Can Wal-Mart’s advantages be duplicated in markets outside the US? (How successful has Wal-Mart been in transferring it business model to new international markets?)

6. What recommendations would you make? Cola Wars Continue: Coke and Pepsi in 2010 1. Why is the soft drink industry so profitable? 2. How has the competition between Coke and Pepsi affected the industry’s profits? 3. Compare the economics of the concentrate business to the bottling business: Why are the differences

in profitability so stark? What is causing concentrate producers to vertically integrate into bottling? 4. Will Coke and Pepsi sustain their profits in the twenty-first century? What would you recommend to

Coke to insure success in the future? To Pepsi?

Netflix 1. How would you characterize the differences between Blockbuster’s and Netflix’ business models?

2. Was Netflix disruptive? How? How would you evaluate Blockbusters’s response? 3. What other theories help clarify the landscape? 4. Did Reed Hastings make the right move in trying to separate the DVD-by-mail business from the streaming business? How would you think he should proceed now?

Trader Joe’s 1. How do firms in the supermarket industry make money?

• Using the data provided in Exhibit 2, conduct a financial ratio analysis. How do the results reflect the different strategies pursued by those four firms?

• What do the results say about how firms in this industry can deliver strong financial returns in different ways?

2. What are the key sources of Trader Joe’s competitive advantage? 3. What are the main threats to Trader Joe’s competitive advantage? Is their advantage sustainable? 4. Would you/how would you modify Trader Joe’s strategy moving forward? Patagonia 1. Evaluate Patagonia's strategy. 2. How important to Patagonia's strategy is its environmental position? 3. What is your assessment of the Product Lifecycle Initiative (reduce, repair, reuse, and recycle)? 4. How fast can Patagonia grow? How fast should it grow? 5. How would Patagonia's strategy differ if the company were publicly held? Cirque du Soleil 1. What is Cirque’s product and its strategy?

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2. How has Cirque structured and supported its casts to deliver superior performance? 3. What are the challenges to Cirque’s continued growth and / or diversification? Apple Inc. in 2012 1. What, historically, have been Apple’s competitive advantages? 2. Analyze the dynamics of the PC industry. Why did Apple struggle historically in PCs? 3. How sustainable is Apple’s competitive position in PCs? MP3 players? smartphones? 4. What are Apple’s long-term prospects for the iPad? 5. What advice would you offer the new CEO, Tim Cook? Dogfight Over Europe: Ryanair (A) 1. What is your assessment of Ryanair’s launch strategy? 2. How do you expect Aer Lingus and British Airways to respond? Why? 3. How costly would it be for Aer Lingus and British Airways to retaliate against Ryanair’s launch? 4. Can the Ryan brothers make money at the I£98 fare they propose? Newell Company: Corporate Strategy 1. Does Newell have a successful corporate-level strategy? Does the company add value to the

businesses within its portfolio? 2. What are Newell’s distinctive resources? 3. What challenges faced the company in the late 1990s? 4. In this context, does the acquisition of Calphalon make sense? Rubbermaid? Walt Disney Company: The Entertainment King 1. Why has Disney been successful for so long? 2. What did Michael Eisner do to rejuvenate Disney? Specifically, how did he increase net income in his

first four years? 3. Has Disney diversified too far in recent years? Jonathon Elderslie and the Board Decision 1. What attitudes toward corporate governance are revealed in the comments made to Jonathon Elderslie

by his friend, Jerome Haskins, as well as in Elderslie’s own experience as an executive reporting to a board?

2. Do you think these attitudes are widespread or confined to few directors? 3. To the extent that these attitudes exist, what needs to change to create more effective corporate

governance? 4. What questions should Elderslie be asking before deciding to take on a directorship?

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APPENDIX E FINAL TEAM PROJECTS FOR DOING BUSINESS IN SOUTHEAST ASIA

For this project, students will develop a strategic overview of their assigned organization, in preparation for the Doing Business in Southeast Asia trip. Each group will prepare a written report and deliver a Power Point presentation. Reports, including a paper (maximum 8 pages) AND slides for a Power Point presentation (no more than 8 slides) will be turned in Wednesday September 30—hard copy to me, soft copy to Ivonne. Power Point presentations by all groups will be made to the class during the final exam period, from 9:00 am to 12:00 pm on Wednesday October 7. Time limits for Power Point presentations will be announced. You will be graded as a group for all parts of this project. The content of the paper and slide presentation will be essentially the same: Key strategic issues/ challenges facing the organization, including:

Why these issues are important Why these issues are hard to solve

Preliminary analysis of the situation For a company

• External analysis, including key industry dynamics (industry size, KSFs, economic drivers, trends, major competitors, current industry challenges and opportunities)

• Company analysis (recent and historical performance, analysis of current strategy and positioning, assessment of resources and capabilities)

For a governmental organization or NGO— • Role, background, history • Authority granting entity • Recent accomplishments, commentary • Expectations of stakeholders • Analysis of current situation or challenge

• Questions for further analysis What would you like to understand more fully in order to develop a deeper analysis of the

situation? Complete references and bibliography are required. Use APA Guidelines. Instructions can be found at http://libguides.usc.edu/APA-citation-style

Written Reports and Power Point Slides: Written reports and slides will be compiled and copies provided to each student in the class to take on the trip. Post Trip Your group will turn in a 1-page addendum at the end of the trip visit, in which you will answer the following questions:

1. During the presentation by the organization’s leaders, what surprised you or was different from what you had expected?

2. What key lessons did you learn during the presentation? 3. Based on what you heard, how would you modify your report?

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PEER EVALUATION This form must be completed and submitted to me on the last day of class. Aggregate results may cause me to adjust individual grades for team projects up or down. Please consider overall contribution of team members to all team assignments, taking into account the following: Preparation: Rate the extent to which the member contributed to development of the assignment and the research. Input: Rate the extent to which the member provided valuable input of ideas towards the team’s work. Diligence: Rate the extent to which the member took on the necessary roles to complete the team’s work, his or her timeliness in completing and distributing work, and the quality of the work performed. Facilitation: Rate the extent to which the member helped the team maintain a positive climate and work together effectively. Learning: Rate the extent to which the member contributed to your own learning through the team’s work together.

Please follow directions carefully!

Allocate 100 points across all the members of your team apart from yourself to reflect your assessment of their individual contributions to the team effort. I will treat your assessments as confidential.

Your name: ____________________________________________________

Course name: ___________________ Date form completed_____________

Course number:_________________ Section number:__________________

Group #: _____________________

Team-member name: Contribution %: Comments

1. _____________________ _____ _______________________________

2. _____________________ _____ _______________________________

3. _____________________ _____ _______________________________

4. _____________________ _____ _______________________________

5. _____________________ _____ _______________________________

Total: 100%

General Comments (Use additional page if necessary): __________________________________________________________________________

__________________________________________________________________________

__________________________________________________________________________

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