Memoranda

I need 4 memorandas By Sunday.

All the instructions are under this study guide. Please read all the instruction and let me know if you can help, please read first!

Edition:January 12, 2018

LEVINE’S
STRATEGIC MANAGEMENT

STUDY GUIDE
Professor: Dr. Sheen S. Levine
levine@utdallas.edu ❖ www.sslevine.com
Facebook, Twitter, LinkedIn: sslevine
Office hours: after meetings or by appointment: j.mp/MeetS

Teaching Associate: Ayenda Kemp, MA
Ayenda.Kemp@utdallas.edu
Office hours: Fridays, 1-2, JSOM 4.207

As to methods, there may be a million and then some, but principles are
few. The man who grasps principles can successfully select his own
methods. The man who tries methods, ignoring principles, is sure to have
trouble.

Ralph Waldo Emerson (1803–1882), American essayist,
philosopher, poet, and leader of the Transcendentalist
movement

Why do some people succeed and others do not?
Why do some companies outperform others?
Strategic management integrates insights from
multiple disciplines to find a competitive advantage.
It cannot be obvious. So, here we seek to distill
ambiguous, often contradictory, information and
advice into simpler, empirically supported
principles. As cases from different eras and places
will demonstrate — situations may change, but
principles remain.
Using the case method, we will immerse ourselves
in strategic situations and study managerial
decisions, successful and unsuccessful alike.
Through extensive analysis and discussions, we will
understand some of the challenges strategists face
and how these challenges can be surmounted
ethically.
This class is dedicated to your growth. As in any
course, you will learn new facts. But here you will
learn more than that: You will acquire broad
analytical skills, enabling you to approach a variety
of business situations, focus on what matters,
investigate purposefully, and communicate your
ideas to lead action. Such deep learning has led
participants in Asia, Europe, and the United States
to rank Prof. Levine’s classes in the top 10% to the
top 1%.
We will begin by introducing the case method,
which presents business situations with all their
realistic complexity. You will learn how to
penetrate such situations to identify the most

important elements and understand root cause.
Then, you will apply your newly acquired skills to a
classic success story: how John Jacob Astor, a poor
immigrant boy, rose to become the richest person
in this country.
Analysis implies separation into parts for individual
study, so we will proceed by identifying the parts
that make a strategy whole, starting with analysis of
the external environment — macroeconomic and
industry — and continuing with internal analysis,
which focuses on a firm’s resources and capabilities.
Strategy is fluid, and so next we will add dynamic
elements, such as game theory, strategic change,
innovation and disruption. We will also examine
individual behavior and its role in strategy.
Strategists deal with complex, often intractable,
situations. So once you master simpler situations,
you will be ready for the next level: tackling full-
fledged strategic situations.
Other courses may stress memorizing facts and
theories, but this course is about critical thinking,
analysis, and application. Complete factual
knowledge of the theories and the cases is required,
but it merely serves as a basis for a higher level of
learning. In other words, you cannot succeed here
without reading and mastering the facts, but such
mastery is just the first step toward your success as
a strategist. You will learn to use the facts in an
intelligent way, to penetrate a situation, identify its
components, build an argument, support, and
defend it against critique.

Edition: January 12, 2018

Dr. Sheen S. Levine studies how people behave and how they impact others, organizations and markets. His
research spans disciplines: How knowledge sharing affects performance, when open collaboration facilitates
innovation, and how strategic intelligence brings success. He currently studies why diversity improves error
detection, and when decision makers opt for the familiar versus the promising, and how Pay It Forward
creates surprising acts of kindness.

He collaborates with economists, psychologists, sociologists and cognitive scientists; but also with
entrepreneurs and members of companies such as Bain and Company, Blackrock, Deloitte, and KPMG. He
led research teams to publications in journals such as Proceedings of the National Academy of Sciences,
Organization Science and the Strategic Management Journal. The findings were cited by scholars in business,
economics, psychology, sociology, law, and computer science. They have a wide-reaching impact, reported by
The New York Times, The Wall Street Journal, The Economist, The Financial Times, Reuters, Forbes,
National Public Radio, Bloomberg, Bloomberg TV, BusinessWeek, New York Magazine, The Boston Globe,
Huffington Post, Business Insider, The Globe and Mail (Canada), Paris Tech Review, Affärsvärlden
(Sweden), South China Morning Post, China Radio International, The Straits Times (Singapore), The Hindu
(India), Forbes India, The Australian Financial Review and others. In 2015, New York City changed how it
selects managers for its $160 billion pension funds, citing research by Dr. Levine and associates.

Dr. Levine is an op-ed contributor to the New York Times and engages tens of thousands on twitter,
Facebook and LinkedIn. He is a member of the Academy of Management, Strategic Management Society,
American Sociological Association, Society for Personality and Social Psychology, American Economic
Association, and Economic Science Association. His research was conducted at The University of
Pennsylvania, where he was trained, MIT, Columbia, and the University of Texas at Dallas, among others. He
has also received funding from the European Union and the Hong Kong research council.

As a professor, Dr. Levine has taught global strategic management, organizational theory, entrepreneurship
and innovation to students and executives in the US, Europe and Asia. For his impact, he was named Top
Professor on Twitter for two years in a row. Participants have been rating his classes in the top 10% to top
1%, praising his challenging, hands-on approach:

“Throughout the course, I enjoyed your lectures very much. Sometimes it was very demanding not to miss any details and get the
most out of it – but that’s fine. In the end, this course was one of the best I ever attended and I would like to thank you for sharing
your valuable thoughts with us. I hope that subsequent classes will be able to enjoy your lectures as well and I encouraged [the]
program management to ensure that.”

“The seminar was exemplary and most enriching. I have enjoyed the lecture, team work, cases and, especially the simulations
immensely, including your adroit use of modern technology. You have acted beyond the call of duty; or rather, it would be a boon
to anyone if any lecturer would understand his duty like you.”

“It has been an amazing seminar…What I like most about the course and your teaching method is that it focuses and encourages
to implement skills learnt immediately into our personal and professional life.”

“A few days passed and I am still thinking a lot about leadership and your enlightening class! Thank you again for your mind-
changing experience and tremendously interesting course. I already started to ‘really network.’”

“Although the work was tough prior the course, it has been worth 1000%. I hope to see you again with the same or other topic! I
am looking forward to it.”

“Happy birthday, professor! Be the superstar prof that you are! A few years post-graduation, and yours is still the class I learnt
the most from.

Edition: January 12, 2018

This study guide complements and enhances the syllabus. Based on decades of teaching and dozens of
student requests, it lists not only the requirements of the course — but also offers advice on succeeding in the
classroom, on the job, and elsewhere in life.

These materials are proprietary and provided exclusively to students of Prof. Levine.

CONTENTS
Readings: Some Texts are Richer than Others ………………………………………………………………………………………………… 5

How to Economize …………………………………………………………………………………………………………………………………….. 5
When is Your Birthday? Find your Class Section ……………………………………………………………………………………….. 5

Attend All Meetings, Arrive and Leave On Time …………………………………………………………………………………………… 6
Excused absences …………………………………………………………………………………………………………………………………… 6
Up to three unexcused absences …………………………………………………………………………………………………………….. 6
More than three unexcused absences ……………………………………………………………………………………………………… 6

Turn Off Screens, Turn On Conversation ……………………………………………………………………………………………………… 6
Seek feedback early, seek feedback often ………………………………………………………………………………………………………… 7
Academic Integrity is Critical ………………………………………………………………………………………………………………………….. 7

Plagiarism ……………………………………………………………………………………………………………………………………………….. 8
Recording during class sessions ………………………………………………………………………………………………………………. 8
Informal case discussions are permitted …………………………………………………………………………………………………. 8
The only source for case analysis is the case …………………………………………………………………………………………… 8

How Your Grade is Determined …………………………………………………………………………………………………………………….. 8
1. Factual knowledge ………………………………………………………………………………………………………………………….. 8
2. Class contribution …………………………………………………………………………………………………………………………… 9
3. Managerial memoranda…………………………………………………………………………………………………………………… 9
4. Comprehensive analysis ………………………………………………………………………………………………………………….. 9

Class Plan ……………………………………………………………………………………………………………………………………………………… 10
Jan. 9 …………………………………………………………………………………………………………………………………………………….. 10
Introduction ………………………………………………………………………………………………………………………………………….. 10
Jan. 11 …………………………………………………………………………………………………………………………………………………… 10
The Case Method: Theory …………………………………………………………………………………………………………………….. 10
Jan. 16 …………………………………………………………………………………………………………………………………………………… 10
The Case Method: Practice …………………………………………………………………………………………………………………… 10
Jan. 18 …………………………………………………………………………………………………………………………………………………… 11
How to Become the Richest Person in America …………………………………………………………………………………… 11
Jan. 23, 25 ……………………………………………………………………………………………………………………………………………… 11
Where and how do you want to compete? An introduction to macroeconomic and industry analysis …….. 11
Jan. 30, Feb. 1 ……………………………………………………………………………………………………………………………………….. 12

Put external analysis to action

………………………………………………………………………………………………………………… 12
Feb. 6, 8 ………………………………………………………………………………………………………………………………………………… 12
What do you compete with? An introduction to internal analysis …………………………………………………………. 12
Feb. 13, 15, 20 ………………………………………………………………………………………………………………………………………. 13
Whom do you compete with? Introduction to competitive dynamics and game theory ……………………….. 13
Feb. 22, 27 …………………………………………………………………………………………………………………………………………….. 13
Strategic Change: Innovation and Disruption ……………………………………………………………………………………….. 13
Mar. 1, 6 ………………………………………………………………………………………………………………………………………………… 14
Behavioral Strategy ……………………………………………………………………………………………………………………………….. 14
Mar. 8 ……………………………………………………………………………………………………………………………………………………. 14
A Complete Strategic Analysis of Chipotle (with some guidance) ………………………………………………………… 14
Mar 13, 15 …………………………………………………………………………………………………………………………………………….. 15
Mar. 20, 22 ……………………………………………………………………………………………………………………………………………. 15
Now, You’re the Boss: A Complete Strategic Analysis of Spotify ………………………………………………………… 15

Edition: January 12, 2018

Mar. 27, 29 ……………………………………………………………………………………………………………………………………………. 16
Complete Strategic Analyses & Advanced Topics in Strategy ………………………………………………………………. 16
Apr. 3, 5 ………………………………………………………………………………………………………………………………………………… 16
Apr. 10, 12 ……………………………………………………………………………………………………………………………………………. 16
Apr. 17, 19 ……………………………………………………………………………………………………………………………………………. 16
Apr. 24, 26 ……………………………………………………………………………………………………………………………………………. 16
Final Thoughts ……………………………………………………………………………………………………………………………………… 16

How to Write Managerial Memoranda ………………………………………………………………………………………………………….. 18
Principles…………………………………………………………………………………………………………………………………………………… 18
How the Principles are Applied and Assessment is Performed ………………………………………………………………… 18

How to Become the Richest Person in America …………………………………………………………………………………… 18
Where and how do you want to compete? An introduction to macroeconomic and industry analysis …. 18
Put external analysis to action ……………………………………………………………………………………………………………….. 18
What do you compete with? An introduction to internal analysis …………………………………………………………. 19
Whom do you compete with? Introduction to competitive dynamics and game theory ……………………….. 19
Strategic Change: Innovation and Disruption ……………………………………………………………………………………….. 19
Behavioral Strategy ……………………………………………………………………………………………………………………………….. 20
A Complete Strategic Analysis of Chipotle (with some guidance) ………………………………………………………… 20
Now, You’re the Boss: A Complete Strategic Analysis of Spotify ………………………………………………………… 20
More Comprehensive strategic analyses: here and on the job ……………………………………………………………….. 21

Template for a Good Memorandum …………………………………………………………………………………………………………….. 21
Write and Present Clearly ……………………………………………………………………………………………………………………………… 22

Three Stars: Outstanding Performance …………………………………………………………………………………………………….. 24
Two stars and a half: Good Performance …………………………………………………………………………………………………. 24
Two stars: Acceptable Performance ………………………………………………………………………………………………………….. 24
One star: Poor Performance ……………………………………………………………………………………………………………………… 24
No Stars: Unacceptable Performance ……………………………………………………………………………………………………….. 24

Edition: January 12, 2018

READINGS: SOME TEXTS ARE RICHER THAN OTHERS

I can’t give you a surefire formula for success, but I can give you a formula
for failure: try to please everybody all the time.

Herbert Bayard Swope (1882–1958), American editor and
journalist; first recipient of the Pulitzer Prize

Levine’s Strategic Management trains successful strategists. If becoming a successful strategist were easy, then
everyone would be one. But success requires effort. The effort required here is substantial, and you would do
well to schedule your workload. To assist you, we rate the richness using a moneybag scales. For each money
bag, plan roughly an hour and a half of reading. The more moneybags, the more time you should allocate for
contemplating the text. Recommended readings are just that: They are not required, but they will give you a
boost of knowledge and even better performance, in class, on the job, and in life.

We will use a selected blend of textbook readings, articles, presentations, and business cases. The textbook is
Global Strategy (2017; 4th edition) by M. W. Peng (hereafter: “Peng”). You may obtain many of the articles
(but not cases) from the library or free sources. To save you money, we provide links below. To save you time,
we have created a course pack that you may obtain directly from Harvard Business Publishing (see footnote 8).
It contains many of the readings, including those that must be purchased.

For all the readings, be sure to bring a paper copy to the meetings.

How to Economize

Some prefer the convenience of all-in-one textbook and course pack. If you are one of them, purchase the
textbook and the course packs. Some prefer to save money and do not mind some clicking (or walking) around.
In this case, you can stay thrifty but still reward the authors whose work we use:

❖ We already provide links to articles you can obtain freely from your computer. This will save you
money. We assume you will do that, so in the course packs they are omitted or appear as “optional
purchase”, even if a required reading.

❖ Some of these links, such as to Management Science or Harvard Business Review, depend on the
university’s subscription to these publications. To take advantage, access from campus or use a VPN.

❖ You will save money by buying Daniel Kahneman’s Thinking, Fast and Slow (2011), currently priced at
less than $10 (half for a used copy). You will also gain an excellent owner manual to your brain.

❖ Older versions of the textbook may be fine, but the page numbers may be different. If you do some
comparisons, you can save buying a new one.

❖ Realize that you cannot replace Harvard Business School cases, core readings, and online programs,
such as the Case Analysis Coach

When is Your Birthday? Find your Class Section

We use class sections to assign readings and exercises. They serve the dual purpose of reducing the workload
(so not everybody has to read and analyze everything) and encouraging classroom conversation (because you
will have known something that the others have not). Your reading section assignment depends on your day
of birth. For instance, if you were born on the 27th of September, you belong to section F (26th–31st).

The section may be used in assigning teams, readings, and tasks. If you wish, you may always submit extra
work for extra credit.

Edition: January 12, 2018

If your birth day is… Your section is…
1st–5th day of the month A

6th–10th B
11th–15th C
16th–20th D
21st–25th E
26th–31st F

ATTEND ALL MEETINGS, ARRIVE AND LEAVE ON TIME

If you don’t buy a ticket, you can’t win the lottery.
Anonymous

This class runs like a management meeting: You are expected to come with deep familiarity of the facts, ready
to discuss them. Preparation is required, but it is during discussion that sparks fly — and insights emerge. As
in a management meeting, you are expected to arrive to each meeting on time. Because you will have
completed all the readings, you will be ready to contribute to the discussion.

Excused absences: Generally, you may miss a class meeting only for the same reasons for which you may
miss a working day: serious illness or death in the family, religious holiday, or officially representing the
university. You should bring such cases, accompanied by suitable evidence, to the TA’s attention as soon as
feasible. In such cases, you may request to meet with the professor and complete your knowledge. If an
unfortunate case has caused you to miss several classes, we may have to seek a different solution.

Up to three unexcused absences: We all make sacrifices to attend the class. We work fewer hours, spend
less time with family, or see our friends less often. During the semester, some obligations and desires may
clash with class schedule. We understand that. For that, you may miss, arrive late, or depart early from up to
three class meetings. There will be no penalties, but it is your obligation to meet with your classmates and
cover what you missed.

More than three unexcused absences will be regarded as missing a workday without permission: A very
serious matter that will result in a decrease of at least one letter grade. This could disqualify you from passing
the class.

TURN OFF SCREENS, TURN ON CONVERSATION

Concentrate all your thoughts upon the work at hand. The sun’s rays do not
burn until brought to a focus.

Alexander Graham Bell (1847–1922), an eminent scientist
and inventor, most known for creating the telephone.

We sometimes use computers for exercises, but during discussion there are no small screens: no laptops or
tablets, and phones (or smartwatches) should be in plane mode. Research has shown that gadgets not only
distract you (and others), but also may cause shallower processing of information, thus harming

Edition: January 12, 2018

performance.1 Screens can “reduce education to the clackety-clack of transcribing lectures on shiny screens
and…provide students with a constant escape from whatever is hard, challenging or uncomfortable about
learning”.2 And in a discussion-based class, such as this, they interfere with listening and responding. For that,
faculty in some of the world’s top institutions, such as The Wharton School, Harvard Business School and
MIT Sloan, prohibit small screens in the classroom.

❖ So you think you can multitask? Test your focus3 and how fast you can switch tasks4

❖ When you wait for a call or a message, your brainpower is drained. Do interruptions make us
dumber? New research.5

❖ Do you have troubles concentrating? Getting things done? Here’s how you may be undermining
yourself.6

SEEK FEEDBACK EARLY, SEEK FEEDBACK OFTEN

There’s no difference between a pessimist who says, “Oh, it’s hopeless, so
don’t bother doing anything,” and an optimist who says, “Don’t bother
doing nothing, it’s going to turn out fine anyway.” Either way, nothing
happens.

Yvon Chouinard (1938–), Founder, Patagonia, Inc., Co-
founder, One Percent for The Planet, Doctor of Humane
Letters (honoris causa), University of Pennsylvania

The professor has dedicated time to help you succeed. He has set aside hours to meet with you, and you can
easily schedule a virtual or face-to-face meeting here.7 You may receive answers to quick questions from the
teaching team, but for anything that requires more than five minutes of conversation, please book a meeting
with the professor.

The teaching team will gladly discuss topics of the course, explain our expectations, provide feedback, and
listen to your ideas. However, we will not vet work before it is due.

ACADEMIC INTEGRITY IS CRITICAL

Plagiarism: the unoriginal sin
Roy Peter Clark (1948–), author or editor of 14 books on
journalism and writing

Obviously, everybody must adhere to the Student Code of Conduct, which was recently revised to clarify that
cheating “includes but is not limited to the use or attempted use of unauthorized materials, information, or
study aids in any academic exercise; the use of sources beyond those authorized by the instructor in
completing any academic exercise or, engaging in any behavior specifically prohibited by the faculty member

1 For a review of the evidence, see Yamamoto, K. (2007). Banning laptops in the classroom: Is it worth the hassles?
Journal of Legal Education, 477-520. For recent evidence on the benefits of longhand note taking, see Mueller, P. A., &
Oppenheimer, D. M. (2014). The pen is mightier than the keyboard: Advantages of longhand over laptop note taking.
Psychological Science, 25(6), 1159-1168.
2 As Darren Rosenblum, professor at the Elisabeth Haub School of Law at Pace University, wrote in “Leave Your
Laptops at the Door to My Classroom”, The New York Times: January 2, 2017.
3 https://j.mp/16Wqu9e
4 https://j.mp/15T24cf
5 https://j.mp/1cxz2rb
6 https://j.mp/17zJSG4
7 https://j.mp/MeetS

Edition: January 12, 2018

in the course syllabus or class discussion. Academic exercise includes all forms of work submitted for credit
or hours” (see §49.10b).

In this course, it means that all quizzes and papers are individual effort. Copying or receiving assistance from
other individuals, prior assignments, or any other source, including websites, will be considered a breach. The
exception is group work, which will be explicitly designed as such.

Plagiarism. Scholars always rely on others’ contributions, but the bulk of your work must be original. As
detailed in the relevant rules and procedures, when you use the writings or ideas of another person, you must
acknowledge that person’s contribution by providing a clear reference. Whenever you do not provide a
reference, you imply that the work is originally yours. Infringements of this principle will be considered
plagiarism, and will be dealt with most strictly.

Recording during class sessions. This is a discussion-based class, and for this reason, you may not record
video or audio, of the professor or anyone else, during class sessions. If you have a specific need, you may
speak to the professor to seek permission.

University personnel, including the professor, may record class sessions for purposes such as evaluation. Rest
assured that identifiable student information will not be revealed to anyone outside the course in which such
information was recorded.

Informal case discussions are permitted. As detailed in the readings, you may discuss cases with other
students before writing an analysis. Such a discussion is meant to help you judge the merits of your views, the
extent to which they are defensible, and the strengths of alternative views. But make no mistake: There is a
sea difference between exchanging opinions and copying someone else’s contribution.

The only source for case analysis is the case. You need not seek materials outside the case, unless
explicitly stated otherwise. This is meant to limit the extent of your preparatory work and assure that
everybody is relying on the same materials when discussing.

HOW YOUR GRADE IS DETERMINED

Genius is one per cent inspiration, ninety-nine per cent perspiration
Thomas Alva Edison (1847–1931), American inventor
and businessman, created the long-lasting light bulb

When assessing class contribution and reviewing written work, we give special credit to original, novel
arguments. The key is whether the arguments are based on facts and are logically coherent. Whether they
match the professor’s opinion is irrelevant, so do not attempt to guess what the professor thinks. Rather,
develop your own view and be prepared to justify it.

You will receive course credit if you:

❖ fully attend all meetings (see Attend All Meetings, Arrive and Leave On Time), and

❖ receive a passing grade in a quiz on the syllabus and study guide, and

❖ receive at least a passing grade in each of the following components:

1. Factual knowledge (27.5% of final grade) — Mastering the facts is the first step to success in this
class. We expect you to answer written and oral questions about the facts and arguments contained in
the readings and in prior class discussions. We will check your factual knowledge through cold-calling in
class and pop quizzes. Also, you may be asked to present a situation or explain an idea from the
readings. Such ad-hoc presentation will count toward this component.

Anyone can have a bad day. We will ignore (i.e., drop) your lowest grade
on factual knowledge and class contribution.

Edition: January 12, 2018

2. Class contribution (27.5%) — Beyond mastering the facts, your success depends on your ability to
think analytically and critically, and to develop those thoughts into oral and written arguments. To
contribute, you should demonstrate that you have developed a view of the questions at hand and that
you have been listening to others’ arguments. Class contribution differs from mere presence or
participation. Class presence is required, and speaking is expected, but it is contribution to the class
discussion that will be rewarded. See the appendix to understand how your class contribution is
assessed. Once the assessment is made, it will not be altered – so seek feedback early.

) Display a printed placard with your official name (and nickname, if desired) (
to assure that you are credited for your contribution

3. Managerial memoranda (27.5%) — Managing is a skill. Like any skill, it requires practice. Put your
managerial skills to practice by analyzing cases and presenting ideas. Before writing the first
memorandum, and in each subsequent one, you would do well to review How to Write Managerial
Memoranda and utilize the Template for a Good Memorandum, which are part of this guide). When
formatting your memorandum, be sure to follow the guidelines in Write and Present Clearly.

Submit

in advance, as detailed in the class plan.

4. Comprehensive analysis (17.5%) – Employers (and venture capitalists) care about your ability to
deliver. This requires integrating oft-disparate concepts and frameworks, applying them to a complex
setting, and deriving actionable recommendations. In a comprehensive analysis — a team effort —
you do just that. It will be used to assess your ability in applying the frameworks we covered in class
to a real-life case.

Read each question carefully and think before you write. Please do not feel
obliged to make use of the maximum number of words in formulating your
answers. Precision and imagination, rather than volume, are what I am looking
for.

Barack Obama (1961–), in Constitutional Law final exam,
University of Chicago, 2003 (Emphasis added)

Edition: January 12, 2018

For each meeting, please bring printed copies of the readings and a paper notebook, because screens are shutoff
during discussions. Recommended is a networked laptop (not a tablet) for exercises

To save you money, we provide links below. To save you time, we have created a course pack that you may
obtain directly from Harvard Business Publishing. It has two parts: From the first meeting to Strategic Change
(Part I) and from Behavioral Strategy to the end (Part II).8 Some items are optional for purchase, but they are
still a required reading. You may obtain them from other sources, such as the library.

Jan. 9 Introduction

Read

Required readings.
Read them in the
order in which they
appear.

❖ This entire document s

❖ Review accounting and finance concepts from prerequisite courses such as Business
Finance, Introductory Financial and Management Accounting (fin3320, acct2301,
acct2302).

Jan. 11 The Case Method: Theory

Read

❖ Levine, Sheen S. How to Crack a Case.s

❖ Haywood-Farmer, John. An Introductory Note on the Case Method. Richard Ivey School of
Businessss

❖ Austin, Robert D., and Robert L Kelley. Case Analysis Coach (web-based), includes
access to the case Komatsu Ltd. and Project Gss

Analyze

Write a sketch of the
answer and prepare
to present it.
Submission is not
required.

Sketch an answer to at least one question:

1) What allowed Komatsu to evolve from a $169 million company with low-quality
products to a real challenge to Caterpillar? How would you evaluate Mr. Kawai’s
performance?

2) Why did performance deteriorate so rapidly in the mid-1980s? What grade would you
give to Mr. Nogawa’s term as CEO?

Jan. 16

The Case Method: Practice

Read

❖ Austin, Robert D., and Robert L Kelley. Case Analysis Coach (web-based), includes
access to the case Komatsu Ltd. and Project Gss

8 Part I – http://cb.hbsp.harvard.edu/cbmp/access/72796813 ; Part II http://cb.hbsp.harvard.edu/cbmp/access/72796884

CLASS PLAN

Edition: January 12, 2018

Analyze

Sketch an answer to at least one question:

3) How appropriately did Mr. Tanaka deal with the problems he inherited? What is your
evaluation of his brief tenure as CEO?

4) How effectively did Mr. Katada take charge? How would you assess his new vision for
the company? His new strategy? His new cultural and behavioral objectives? What
grade would you give him for his performance?

Jan. 18

How to Become the Richest Person in America

Read

❖ The Economist, The Pedagogy of the Privileged, vol. 392, Issue 8650, p. 82, Sep. 24, 2009
s

❖ MacDuffie, John Paul. 1997. The Road to Root Cause: Shop-Floor Problem-Solving at Three
Auto Assembly Plants. Management Science 43 (4): pp. 494-5 (The Five Whys; なぜなぜ) s

❖ Case: John Jacob Astor, 1763–1848ss

Analyze

1) Per The Economist, what is wrong with contemporary business education? Why
studying business history is part of the solution?

2) What role did social networks play in Astor’s career? What was the structure of Astor’s
business? What were his control systems?

Submit
Everyone
At least 24 hours
before the class
begins.

1) Trace Astor’s career: Identify challenges and how he successfully overcame them.
Employ the case analysis tools and “The Five Whys” to hypothesize on the roots of
these successes.

2) What can you personally learn from his example, including ethical or unethical
behaviors? How can you change your behavior to increase chances of success?

Learn

After the class, you
should be able to do
these.

❖ How to approach business cases

❖ How to identify root cause

❖ How to apply abstract principles to a real-life business situation

Jan. 23, 25 Where and how do you want to compete? An introduction to macroeconomic and
industry analysis

Read
First item for first
meeting, case for the
second.

❖ Peng: Ch. 1, pp. 7-17; Ch. 2, pp. 32-51 (excluding cases) ss

❖ Case: The Smartphone Industry in 2013: Samsung’s Dilemma. Ivey. ss

Analyze
First item for first
meeting, second and
third for the second
meeting.

1) In Peng, review Threats of the Five Forces (Table 2.1, p. 37). Review the list of forces and
threats and contemplate the causal relationship between them. Can you explain each
relationship between a condition (e.g., economies of scale are low/high) and its impact
on a force (e.g., threat of new entrants is high/low)? Can you explain the mechanism by
which a condition affects a force, e.g. what’s the causal link between economies of scale
and threat of new entrants?

Edition: January 12, 2018

2) How attractive is the smartphone industry in 2013? What are the most important
competitive factors in this industry?

3) What role do complementary products and services play in this industry? Which
companies have been the most successful in leveraging the benefits of complementary
products or services?

Submit

Sections A–C

(24 hours in
advance)

Using the data contained in the case, analyze the smartphone industry in 2013. What
practical advice can you offer for Samsung? Be sure to support your theoretical insights
with evidence from the case.

Learn

❖ Understand why and how industry affects the performance of companies

❖ Conduct analysis to understand the structure of an industry and determine its
attractiveness

Jan. 30, Feb. 1 Put external analysis to action

Read
All but the case for
first meeting; the
case for the second
meeting.

❖ Casadesus-Masanell, Ramon. Industry Analysis: 1-40 ss

❖ Optional: Casadesus-Masanell, Ramon. Introduction to Strategy: Sections 1-2 ss

❖ Case: HUGE and Digital Strategyss

Analyze 1) In Casadesus-Masanell’s Industry Analysis, review figure 2B and examine the top five and
bottom five industries. Hypothesize: Which forces cause some industries to be so much
more profitable than average? Which forces erode profitability?

2) What is the primary competitive advantage of HUGE? How sustainable will it be
through growth? How important is growth to this company?

3) Which growth option, if any, should HUGE pursue? Why?

Submit

Sections D–F

(24 hours in
advance)

Using the six forces (traditional five forces + complementors): How would you assess the
attractiveness of the digital marketing industry? Provide a detailed analysis, backed by data.

Learn

❖ Conduct an analysis to understand the structure — and profitability — of a complex
contemporary industry

❖ Use the insights gained from analysis to propose action to improve positioning and
performance

Feb. 6, 8

What do you compete with? An introduction to internal analysis

Read
All items for the first
meeting

❖ Peng: Ch. 3 (pp. 61-76)ss

❖ Collis, David J. and Cynthia A. Montgomery. 2008. Competing on Resources. Harvard
Business Review: July-August issues

Edition: January 12, 2018

❖ Porter, Michael E. 1996. What is Strategy? Harvard Business Review: November-
December issues

Analyze

1) What resources and capabilities does Samsung possess that could help it navigate the
competitive landscape?

2) What should Samsung do next?

Submit
Sections A–C
(24 hours in
advance)

In “Industry Analysis”, Dr. Casadesus-Masanell shows how Wal-Mart managed to succeed
in an industry that is less than attractive. Use industry analysis or at least one of the new
analytical tools (resource-based view, activity system) to offer practical advice for Samsung
and its smartphones. For instance, how can the company use its resources to change the
industry structure or change its position in the industry? Be sure to support your theoretical
insights with evidence from the case.

Learn

❖ Conduct analysis that considers the industry side-by-side with the firm

❖ Use analytical insights to propose action to improve firm performance

Feb. 13, 15, 20

Whom do you compete with? Introduction to competitive dynamics and game
theory

Read
All but the case for
first meeting; the
case for the second
and third meetings.

Ghemawat, Pankaj and Jan W. Rivkin. Competitive Advantage: 1-25 ss�

Brandenburger, Adam and Barry J. Nalebuff. 1995. The Right Game: Use Game Theory to Shape
Strategy. Harvard Business Review: July-August issuess�

Optional: Peng: managing global competitive dynamics, pp. 196-214

Video: Levine on strategic intelligence (and Under Armour)9

Case: Bitter Competition: The Holland Sweetener Co. vs. NutraSweet (A)ss

Submit
Sections D–F

One of the two

(24 hours in
advance)

Apply all the analytical tools you encountered in recent weeks. After performing the
analyses, answer one of the following:

1) From all the different entities involved in the case — suppliers, customers,
competitors, makers of complementary products, and government bodies — which are
likely to benefit from the success of Holland Sweetener Company? Why?

2) In this case, who are the customers? Who are the makers of complementary products?
Evaluate the bargaining power of Holland Sweetener Company and of NutraSweet vis-
à-vis each one of these.

Learn ❖ Understand how industry and company characteristics affect the dynamics of
competition

❖ Recognize some of the tactics used to thwart competitors

Feb. 22, 27

Strategic Change: Innovation and Disruption

9 https://tgam.ca/2htuR5C

Edition: January 12, 2018

Read

Bower, Joseph L. and Clayton M. Christensen. 1995. Disruptive Technologies: Catching the Wave.
Harvard Business Review: January-February issuess

Case: Continuous Casting Investments at USX Corp. ss

Submit
Sections A–C
One of the two
(24 hours in
advance)

1) What is the financial situation of USX? Offer an investment advice by using common
financial metrics, such as NPV, IRR, and multiples.

2) Imagine that you’re a consultant to the board of USX. What would be your investment
recommendation? Be sure to support your conclusion with both theoretical and empirical
arguments.

Learn ❖ Understand the various types of technological developments, and their business
implications.

❖ Train in applying tools for technology analysis

❖ Realize the limitations of common financial and accounting metrics

Mar. 1, 6

Behavioral Strategy

Read
All but the case for
first meeting; the
case for the second
meeting.

❖ Kahneman, Daniel. 2011. Don’t Blink! The Hazards of Confidence. The New York
Times (October 23): MM30 s

❖ Kahneman, Daniel. 2011. Thinking, Fast and Slow: The characters of the story (pp. 19-
30); A machine for jumping to conclusions (pp. 79-88); The law of small numbers (pp.
109-118); The science of availability (pp. 129-136). ss

❖ Larrick, Richard P. 2016. Making Effective Decisions. s

❖ Case: Carter Racing s

Analyze The protagonist of the case is BJ Carter, a principal in a car-racing team. The team had a lot
of success so far, and success in the next race could bring a large sponsorship. But a risk of
engine failure stirs debate within the team. Identify and weigh the benefits and costs of
racing while keeping an eye on decision biases.

Submit

Everyone
(24 hours in
advance)

Should BJ Carter decide to race or not to race?
A good answer will rely on case data to provide a quantitative answer: the expected values of
racing vs. abstaining. A good answer will also account for biases that can affect such a
decision, even when data are presented.

Learning

❖ Understand the behavioral basis of strategic decision-making

❖ Identify and avoid common behavioral biases

Mar. 8

A Complete Strategic Analysis of Chipotle (with some guidance)

Read
All but the case for
first meeting; the
case for the second
meeting.

❖ Review the theory readings up to date, including Ghemawat & Rivkin’s Competitive
Advantage s

❖ Case: Chipotle Mexican Grill, Inc. ss�

Edition: January 12, 2018

Analyze Some relevant frameworks are mentioned below, but you may apply any and all of the
analytical tools we investigated in this course. Consider the present and project the future
of industry structure, the company’s resources and activity systems, competitive dynamics
(game theory), and the role of technology (e.g., the company is/will be a victim or a
beneficiary of disruptive technology).

Prepare, alone or with one other participant, an answer to one of the two questions (or both
for extra credit). Use the frameworks below and add insights from your analysis. Be ready to
stand up in class and present it for about five minutes, sans slides but with the whiteboard, if
desired. Your peers will offer critique.

1. Perform industry analysis: How attractive is the industry? In terms of strategy, what has
the company done (or could have done) to compensate for structural disadvantages?
What has it done (or could have done) to benefit from structural advantages?

2. Assess resources and activity systems: What are some existing (or potential) internal
sources of competitive advantage? What can the company do to strengthen (or realize)
them?

Submit

Sections D–F
(24 hours in advance)

In addition to preparing your oral presentation, submit it in writing.

Learning

❖ Apply the arsenal of theories and frameworks to a recent case in the service industry

❖ Practice strategic decision-making as an executive or a consultant

Mar 13, 15 No class: spring break

Mar. 20, 22

Now, You’re the Boss: A Complete Strategic Analysis of Spotify

Read
All for first meeting

❖ Seabrook, John. 2014. Revenue streams: Is Spotify the music industry’s friend or its foe? The New
Yorker (November 24) ss

❖ Case: Spotify: Face the music ss�

To complement and verify the data included in the readings, you may use additional sources
of information and analysis. Obviously, assess the validity of a source before relying on it.

Analyze

You may apply any of the analytical tools we investigated in this course. You may also
collect data from outside sources, going beyond the readings.

Submit

Submit nothing in writing, but prepare, alone or with up to two other participants, an
answer to one of the two questions (or both for a double submission). One person will
present the data, analysis, and recommendations during class, to the critique of your peers.
Practice the presentation and time yourself at seven minutes. If you wish, you may prepare
up to three slides to accompany your presentation. Your work will be assessed on its use of

Edition: January 12, 2018

data, analytical rigor, completeness and reasonableness. Of course, all data must be
referenced and verifiable.

Answer one question (or both for a double submission):

1) Imagine that you are advising a major financial institution on a possible investment in
Spotify. Would you recommend an investment?

2) Imagine that you are advising Spotify CEO Daniel Ek. If you had to make one
managerial recommendation, what would it be? Your recommendation must be
steeped in data, based on analysis, and actionable within the current or future
conditions of the market and the company. You may rely on one or more of the
analytical tools mentioned above.

Learning

❖ Apply the arsenal of theories and frameworks to a recent case involving technology

❖ Practice strategic decision-making as an executive or an investor

Mar. 27, 29 Complete Strategic Analyses & Advanced Topics in Strategy

Apr. 3, 5

Apr. 10, 12

Apr. 17, 19

Apr. 24, 26 Final Thoughts

Read
All for first meeting

1) Popper, Karl Raymond. 1957. Philosophy of Science: A Personal Report. In J. H. Muirhead
(ed.), British Philosophy in the Mid-Century. George Allen and Unwin: pp. 155-163
(Parts I and II only) ss

2) Denrell, Jerker. Selection Bias and the Perils of Benchmarking. 2005. Harvard Business Review:
April issuess

Analyze 1) What is Scientific?

“Evidence-based” or “hypothesis-driven entrepreneurship” has become a popular phrase in
recent years, associated with the “lean startup” movement. Dr. Karl Popper, one of the
greatest philosophers of the 20th century, laid foundations for this concept — and changed
philosophy of science — in a short article. (A version of this article later appeared in his
seminal “Conjectures and Refutations”).

To verify that you understand his argument, see if you can answer these questions:

A. According to Popper, distinguishing between science and pseudoscience can be
difficult. Why?

B. What is “falsifiability”? Why can this be a virtue of an argument or theory?
C. What is a “conventionalist twist”?
D. According to Popper, how does Freud’s theory differ from Einstein’s? Why does it

make one more scientific than the other?

Edition: January 12, 2018

2) Getting to Know the Secrets of Success?

To understand the secrets of success, many people turn to the stories of successful
managers, entrepreneurs, and business leaders. Intuitive, perhaps, but dangerous. Dr. Jerker
Denrell explains why studying the “secrets of success” can lead you to failure.

To verify that you understand his argument, see if you can answer these questions:

A. We often hear: “If at first you don’t succeed, try, try again”. It may sound plausible
that successful entrepreneurs are persistent, even in the face of failure. But,
according to Denrell, why persistence cannot be a distinguishing trait of successful
entrepreneurs?

B. “CEOs should be bold and take risks”. Why is it that taking risks can appear —
falsely — to be related to success?

C. Imagine that a company boasts that “94% of our existing customers rate our
services as ‘very good’ or ‘excellent’”. What is wrong with this statement?

Submit for
extra credit
(24 hours before the
first meeting)

1) Apply Dr. Popper’s argument to the field of business: Pick a familiar managerial
argument or a business model, and answer:

A. To what extent is this argument or model falsifiable?
B. Is there a way to make it more falsifiable?

2) Apply Dr. Denrell’s argument to a success story you are familiar with. To what extent
is the success story related to risky practices? How can you ascertain that?

Learning

❖ Realize the importance of refutability

❖ Understand how selection bias produces stories of “success”

Edition: January 12, 2018

HOW TO WRITE MANAGERIAL MEMORANDA
A Guide to Principles and Application, including assessment details

If you never change your mind on any topic, then it is a safe bet that you are
not learning.

Richard C. Benson, President, The University of Texas,
Dallas

Principles

Each memorandum is an exercise that helps you develop essential skills: Identifying the right framework for a
managerial situation, distinguishing between important facts and fluff, deriving nonobvious conclusions and
credibly delivering them.

The memoranda are limited in length. This is because readers’ attention is limited. Writing a short but
complete and convincing memo is an important skill. References make your argument credible, signaling that
you are relying not on your opinion (or hunch) — but on verifiable facts. For that, you should provide
references and you should provide them in a common format, as detailed in the study guide.

We often provide comments through questions, to encourage deeper thinking. We may also suggest a reading
to correct misunderstanding. Our aim is to point out what you can do better and how you may get to do it.
The comments, orally or in writing, will help you identify some of the pitfalls in your answers (for which
points have been deducted), as well as general comments to improve writing, for which points have not been
deducted.

How the Principles are Applied and Assessment is Performed

The requirements for a timely submission, concise style, and clear references are unchanged, and so are the
expectations for analysis and application. Here is how they are applied in the memoranda, each graded on a
scale of 0–100.

How to Become the Richest Person in America

Trace Astor’s career: Identify challenges and how he successfully overcame them. Employ the case analysis tools and The
Five Whys to hypothesize on the roots of these successes.

You receive up to 20 points for listing factual challenges and Astor’s response to them. When you
provide a good application of the case analysis tool and The Five Whys, you receive up to 40
additional points.

2. What can you personally learn from his example, including ethical or unethical behaviors? How can you change your
behavior to increase chances of success?
You are awarded up to 15 points for identifying commonalities between Astor’s challenges and your
own, up to 15 points for describing specific course of action to change your own behavior, and up to
10 points for providing examples of ethical and unethical behaviors.

Where and how do you want to compete? An introduction to macroeconomic and industry analysis

Using the data contained in the case, analyze the smartphone industry in 2013. What practical advice can you offer for
Samsung? Be sure to support your theoretical insights with evidence from the case.

A total of 100 points is provided for accurate analysis of the smartphone industry using the facts in the case,
and these points are split equally between the components of the framework.

Put external analysis to action

Edition: January 12, 2018

Using the Six Forces (traditional five forces + complementors): How would you assess the attractiveness of the digital marketing
industry? Provide a detailed analysis, backed by data.

This is another straightforward exercise in analysis of a contemporary industry. A total of 100 points is
equally divided between the six forces, and complete credit is given for accurate and fact-based application of
the framework tips you abuse the tapirs.

What do you compete with? An introduction to internal analysis

In “Industry Analysis”, Dr. Casadesus-Masanell shows how Wal-Mart managed to succeed in an industry that is less than
attractive. Use industry analysis or at least one of the new analytical tools (resource-based view, activity system) to offer practical
advice for Samsung and its smartphones. For instance, how can the company use its resources to change the industry structure or
change its position in the industry? Be sure to support your theoretical insights with evidence from the case.

1. Here we accept two forms of analysis, either:

a. Industry analysis (30 points): You receive up to five points for a good analysis of each of the six
forces, for a total of up to 30 points, or

b. Resource-Based View (RBV) Analysis (30 points): You should identify a potential resource, apply
the five tests using data from the case, and reach a conclusion. Here, you receive up to six points
for a convincing answer to each of the five questions.

2. Managerial advice (40 points)

You can earn up to 40 points for a sound managerial advice, which should be clearly derived from the
analyses and the facts of the case. Some students may perform two analyses — industry and RBV — and
provide managerial advice. These receive a bonus, for a total that exceeds 100 points.

Whom do you compete with? Introduction to competitive dynamics and game theory

Apply all the analytical tools you encountered in recent weeks. After performing the analyses, answer one of the following:

An accurate application of any analytical tool earns up to 20 points.

1. From all the different entities involved in the case — suppliers, customers, competitors, makers of complementary products,
and government bodies — which are likely to benefit from the success of Holland Sweetener Company? Why?

A good answer would list the entities involved in the case, and explain, using data from the case, how each
entity may benefit or suffer from the success of the Holland Sweetener Company. Eighty points are divided
equally between the entities (and there are at least five of them).

2. In this case, who are the customers? Who are the makers of complementary products? Evaluate the bargaining power of
Holland Sweetener Company and of NutraSweet vis-à-vis each one of these.

The task calls for identifying customers and complementors in evaluating their bargaining power vis-à-vis
each of the two main players. Up to 80 points are provided for leading the reader through a convincing
argument based on accurate application of the framework on facts drawn and cited from the case.

Strategic Change: Innovation and Disruption

1. What is the financial situation of USX? Offer an investment advice by using common financial metrics, such as NPV, IRR,
and multiples.

A perfect answer (100 points) would include a quantitative analysis of the options. Ultimately, it would to a
convincing conclusion about the financial situation of USX.

2. Imagine that you’re a consultant to the board of USX. What would be your investment recommendation? Be sure to support

Edition: January 12, 2018

your conclusion with both theoretical and empirical arguments.

Unlike the first option, a quantitative analysis is not expected here, but theoretical and empirical arguments
are, as stated in the question. There are at least seven arguments about adopting or rejecting the new
technology. You receive up to 15 points for accurately explaining each argument, and bonus points for
additional arguments.

Behavioral Strategy

Should BJ Carter decide to race or not to race? A good answer will rely on case data to provide a quantitative answer: the
expected values of racing vs. abstaining. A good answer will also account for biases that can affect such a decision, even when data
are presented.

Here, up to 75 points are awarded to an accurate presentation of the expected values, as instructed. Up to
additional 25 points are awarded for identifying the biases that can affect such a decision, even when data are
present.

A Complete Strategic Analysis of Chipotle (with some guidance)

Some relevant frameworks are mentioned below, but you may apply any and all of the analytical tools we investigated in this
course. Consider the present and project the future of industry structure, the company’s resources and activity systems, competitive
dynamics (game theory), and the role of technology (e.g., the company is/will be a victim or a beneficiary of disruptive technology).

1. Perform industry analysis: How attractive is the industry? In terms of strategy, what has the company done (or could have
done) to compensate for structural disadvantages? What has it done (or could have done) to benefit from structural
advantages?

Few industries are perfectly attractive or wholly unattractive. Here you combined industry analysis with a
description of how a company responds to the attractive and unattractive features of its industry. The task
explicitly calls for an industry analysis using the data in the case (up to 60 points). It then follows by asking
what the company has done (or could have done) to gain from the attractive features of its industry, and to
compensate for the unattractive features (up to 40 points for any combination of the two). A good answer
involves evidence from the case (what has been done) and offer advice that is based on case data (what could
have been done).

For an example of a good analysis, you may want to review Casadesus-Masanell’s Industry Analysis, where he
shows how Wal-Mart managed to succeed in an industry that is less than attractive.

2. Assess resources and activity systems: What are some existing (or potential) internal sources of competitive advantage? What
can the company do to strengthen (or realize) them?

By listing existing or potential internal sources of competitive advantage, in the form of resources or activity
systems, you may receive up to 60 points. Naturally, convincing presentation would include testing
perspective resources and sketching activity systems, as demonstrated in the readings, class discussions, and
past analyses. Additional 40 points may be awarded for fact-based recommendations on strengthening or
realizing resources or activity systems.

Now, You’re the Boss: A Complete Strategic Analysis of Spotify

Your work will be assessed on its use of data, analytical rigor, completeness and reasonableness. Of course, all data must be
referenced and verifiable.

This is a broader task, suitable for the skilled strategist that you are becoming. The principles remain
unchanged: identify the correct framework or theory, collect data, applied a framework or theory, and derive
results, which could be an investment advice or a managerial one.

Answer one question (or both for a double submission):

Edition: January 12, 2018

1. Imagine that you are advising a major financial institution on a possible investment in Spotify. Would you recommend an
investment?

Here the focus is on a financial investment, which requires understanding of strategy to predict the
company’s fortune. A good answer would identify the appropriate frameworks for analysis and justify
their use, then apply them using data from any source to derive conclusions about the prospects of an
investment in Spotify. A convincing recommendation is a must. Up to 100 points would be credited to
answer that identifies appropriate frameworks, identifies useful data, and applies those data in analysis
and ends with a clear recommendation. Your credibility would rely on clear references, so these are a
must.

2. Imagine that you are advising Spotify CEO Daniel Ek. If you had to make one managerial recommendation, what would
it be? Your recommendation must be steeped in data, based on analysis, and actionable within the current or future
conditions of the market and the company. You may rely on one or more of the analytical tools mentioned above.

Here the focus is managerial, not financial, but the principles are the same. As the question states, their
recommendation must be fact-based, relying on analysis, and offer actionable advice. As always, your
credibility would rely on clear references, so these are a must.

More Comprehensive strategic analyses: here and on the job

Employers (and venture capitalists) care about your ability to deliver. This requires integrating oft-disparate
concepts and frameworks, applying them to a complex setting, and deriving actionable recommendations. In
a comprehensive analysis, you do just that.

Industries, companies, products and time periods may differ. But the theories, frameworks, and principles of
good analysis remain the same. This is true in any other comprehensive analysis in this class, and anywhere
else.

Also recommended and available from Professor Levine’s website:

• How to Crack a Case
• Template for a Good Memorandum

TEMPLATE FOR A GOOD MEMORANDUM

Writing is hard work. A clear sentence is no accident. Very few sentences
come out right the first time, or even the third time. Remember this in
moments of despair. If you find that writing is hard, it’s because it is hard.
It’s one of the hardest things that people do.

From On Writing Well (p. 12) by William Zinsser (1922–
2015), writer, editor, literary critic, and teacher.

Different people have different working styles, and this template is meant to offer you one option. It walks
you through the process of developing and delivering a managerial memorandum or an analytical paper.

1. Before reading the material or even gathering data, start by reviewing the question or the instructions,
listing it at the top of your draft. Note that it may include multiple tasks. You may want to list them
separately, so that you miss none of them. For example, this question asks for five sub-tasks (underlined)

Trace Astor’s career: Identify challenges and how he successfully overcame them. Employ the case analysis tools and The
Five Whys to hypothesize on the roots of these successes.

2. Develop a brief plan to respond to each element. In the example above, the first two tasks ask simply for
a description. Make a note to look for these descriptions when you review the written material.

3. The next two tasks ask you to use specific tools to analyze the written material and reach an answer. Review

Edition: January 12, 2018

the tools, so that you remember which data are needed to use them. Then, make a note to look for these
data when you review the written material.

4. The final task asks you to conclude the description and the analysis by identifying root causes of success.
This would not be obvious from the written material — this is the result of gathering evidence and
analyzing it.

5. Now, turn to the written materials. Follow the method detailed in How to Crack a Case, which you may
find on Professor Levine’s website.

6. Begin sketching an answer: aim to write quickly, just to get your thoughts on paper, and later revise for
accuracy and review for completeness.

7. When you think that you have a good answer, go back to the task.
a) Did you address all of the subtasks?
b) Did you make it clear that you performed analysis, not simply wrote your opinion?
c) If you performed analysis, did you indicate which data used? Did you provide a reference to the source

of the data?
d) If you made assumptions, did you clarify which assumptions you made? Did you explain why these

assumptions are plausible?
e) If you were asked to reach a conclusion or commendation, did you provide it?

8. Finally, turn to your writing:
a) Is there anything that you can remove or simplify? Are there any half ideas that can be deleted? Not

many people enjoy boring documents or tedious presentations. And if people do not read your work
or listen to your presentation, you will have no impact. Hence, make it precise and concise.

b) Spelling errors are easy to catch, but did you check for grammatical errors?
c) Can you ease the burden on the reader by putting separate arguments in separate paragraphs? If you

are conducting tests, such as the six forces, you may number them.
d) When you describe data, be sure to provide clear reference to the source of the data. This is how you

build credibility in your data. Use a standard format, such as that that of the American Psychological
Association.

9. Before sending your response, take one final look at it. Try to put yourself in your reader’s chair: Would
you like to receive it as a reader? Would you find it complete? Would you find it convincing? If so, you’re
done. If not, go back and revise.

WRITE AND PRESENT CLEARLY

It seems that perfection is attained not when there is nothing more to add,
but when there is nothing more to remove.

From L’Avion (p. 60) by Antoine de Saint-Exupéry
(1900–1944), pioneer of international flight and an author
known for Le Petit Prince (The Little Prince)

Not many people enjoy boring documents or tedious presentations. And if people do not read your work or
listen to your presentation, you will have no impact. Hence, make it precise and concise.

1) Each memorandum should not exceed 1,000 words. You may include an appendix, which does not count
towards the limit, but your memorandum should stand on its own, even if the reader skips the appendix.

2) Include the task you are responding to, such as the question (which is excluded from the word count).

3) Review the evidence and develop an argument by writing in full sentences and paragraphs, never in bullet
points.

4) The credibility of your argument depends on data. Buttress your argument with data and provide exact
references, including the page and paragraph number, if available. (As a reminder, when analyzing a case,

Edition: January 12, 2018

you may rely only on the data included in the case and should not seek outside data, unless otherwise
noted).

5) Submit all memoranda through the online system using a text or Microsoft Word document. Please do
not submit Adobe Acrobat documents or other files, unless required by the assignment instructions.

6) Submissions that will exceed the word limit will receive a 5% grade reduction for each excessive 100
words or part thereof.

7) An electronic copy of the memorandum is due on the date and time specified here. Late submissions will
receive a 10% grade reduction per each hour or part thereof.

8) When referencing a source, follow the American Psychological Association (APA) citation and format style.
Instructions and examples can be easily found online and in the library. Submissions that ignore the
format and reference requirements will suffer at least 5% grade reduction. Worse, failure to acknowledge
sources may be regarded as plagiarism and have severe consequences.

Edition: January 12, 2018

HOW CLASS CONTRIBUTION IS EVALUATED

After each meeting, the professor scores each student’s contribution on a scale that ranges from three stars to
no stars.

Three Stars: Outstanding Performance

❖ Exhibits knowledge of readings, both required and recommended

❖ Initiates information relative to topics discussed

❖ Demonstrates excellent listening by following the line of discussion

❖ Brings up questions that need to be further explored

❖ Clarifies points that others may not understand

❖ Offers relevant, succinct input to class

❖ Demonstrates ability to apply, analyze, and synthesize course material

❖ Demonstrates willingness to take risk in making original, even unpopular, observations and suggestions

Two stars and a half: Good Performance

❖ Regularly contributes to class discussions

❖ Shares relevant feedback

❖ Gives feedback to classroom group discussions

❖ Consistently demonstrates knowledge of readings

❖ Demonstrates ability to analyze and apply course material

❖ Demonstrates willingness to answer questions

Two stars: Acceptable Performance

❖ Occasionally contributes to class discussion

❖ Offers clear, concise, useful information

❖ Offers input, but tends to reiterate the intuitive

One star: Poor Performance

❖ Contributes only when solicited or

❖ provides input that is irrelevant, unrelated to topic

❖ Not following flow of ideas

No Stars: Unacceptable Performance

❖ Fails to contribute, even when solicited

❖ Gives no input

❖ Shows up to class and does nothing or distracts the class

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