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Mktg305 Marketing Principles Group Project Assignment
How to SWOT
Identify the problems. Teaching cases are typified by the
presentation of a problem,
or sometimes multiple problems, for the reader to systematically
solve through the case
analysis process. After initially reading or skimming the case,
you should read through
the case again for the purpose of determining what problems the
main character
(principal) in the case is faced with solving.
Analyze the situation. After determining the problem faced in
the case, you need to
analyze the situation surrounding the focal organization in the
case. At the core of this
analysis is a SWOT analysis (SWOT is an acronym for
strengths, weaknesses,
opportunities, and threats). Within the organization, what
strengths and weaknesses
does the company have? Externally, or outside the organization,
what opportunities
may be available to the organization and what threats could it
face? If you are unfamiliar
with a SWOT analysis, you can find a wealth of resources on
the topic through an
Internet search or at a library. Also note that other types of
situational analysis
techniques may be available other than the SWOT analysis.
Generate potential solutions. The next step in the case analysis
is the most creative
element, in which you generate a list of potential solutions to
the problems faced in the
case. This is a brainstorming activity, although it is typical to
narrow the list of potential
solutions to the two to four most reasonable options for solving
the problem.
Evaluate potential solutions. After developing, and potentially
narrowing, a list of
potential solutions, evaluate the advantages and disadvantages,
or pros and cons, of
each. With each solution, what are its positive and negative
characteristics and potential
consequences if implemented? Is the solution practical to
implement? Effective
managers are able to analyze the virtues of each potential
solution in the future, as well
as what pitfalls could occur.
Choose the optimal solution. The final step in the case analysis
process is to choose
the best solution. Based on the advantages and disadvantages of
the potential solutions
examined in the previous two steps of this process, which do
you believe is the right
choice for the case principal and organization to take? Most
important, you need to be
able to support and defend this choice. Be prepared to answer
the question of why you
believe it’s the right choice and back up your choice with facts,
data, or examples.
Potential Questions to Ask
A SWOT analysis will answer these questions:
company?
industry and its
environment?
eaknesses be converted to strengths? Any threats
into opportunities?
opportunities?
result of the SWOT
analysis?
How to Perform a SWOT Analysis (Tim Berry)
four areas
assign each
significant factor, positive and negative, to one of the four
categories, allowing
you to take an objective look at the business
confirming your goals
and your marketing strategy.
Strengths
Strengths describe the positive attributes, tangible and
intangible, internal to the
organization. They are within your control.
Strengths capture the positive aspects internal to the business
that add value or offer a
competitive advantage.
Weaknesses
Weaknesses are factors that are within your control that detract
from your ability to
obtain or maintain a competitive edge. Which areas might be
improved?
Weaknesses might include:
These are factors that are under the control of the business, but
for a variety of reasons,
are in need of improvement to effectively accomplish marketing
objectives. The more
accurately you identify weaknesses, the more valuable the
SWOT will be.
Opportunities
What opportunities exist in your market, or in the environment,
from which you hope to
benefit? These opportunities reflect the potential you can
realize through implementing
marketing strategies. Opportunities may be the result of:
ociated with current situations
your services
If relevant, place timeframes around the opportunities. Does it
represent an ongoing
opportunity, or is it a window of opportunity? How critical is
the timing? If you have
identified “opportunities” that are internal to the organization
and within the control of the
business, you will want to classify them as strengths.
Threats
Threats include factors beyond your control that could place
your marketing strategy, or
the business itself, at risk. You have no control over them, but
you may benefit by
having contingency plans to address them if they should occur.
A threat is a challenge created by an unfavorable trend or
development that may lead to
deteriorating revenues or profits. Competition – existing or
potential – is always a threat.
Threats may include:
-frog” technology that may make
your products
rvices
What situations might threaten your marketing efforts? Get your
worst fears on the
table. Part of this list may be speculative in nature, and still add
value to your SWOT
analysis. The better you are at identifying potential threats, the
more likely you can
position the company to proactively plan for and respond to
them. You will be looking
back at these threats when you consider contingency plans.
The implications
The internal strengths and weaknesses, compared to the external
opportunities and
threats, can offer additional insight into the condition and
potential of the business.
How can you use the strengths to better take advantage of the
opportunities ahead and
minimize the harm that threats may introduce if they become a
reality?
How can weaknesses be minimized or eliminated?
What Weaknesses and Threats can be detoured?
Grading Analysis
Grading Scheme:
Knowledge: (20 Points)
Understanding of the past, current and future market needs.
Analysis of basic
competitors, products, and opportunities.
Thinking: (20 Points)
Strengths, Weaknesses, Opportunities and Threats relate to your
product. Analysis is
clear and thoughtful and is based on market needs competition
and any other relevant
matters. A well-developed explanation of each shows what your
product does well and
identifies both present and potential weaknesses.
Application: (20 Points)
A great deal of critical thinking is obvious. Appears that the
group has carefully analyzed
their collected thoughts and has drawn appropriate conclusions.
Unique overall plan
that is company and customer focused.
Communication: (20 Points)
Work is completed neatly, is well written, in outline format,
there are no
spelling/grammatical errors. Chart is logically organized. There
is precise and complex
vocabulary used. Sentences are properly written. Your thoughts
are clear and thought-
provoking. The voice of the student as the writer is evident.
Target Market: (20 Points)
The Target Market is very well defined. An assessment of the
market, demographics
and the economy are included. Expectations are to see unique
characteristics from the
demographics and psychographics with references.
Total 100 Points
Problem Solving Assessment Rubric
Learning
Objective
Unacceptable
(1)
Acceptable
(2)
Proficient
(3)
Superior
(4)
Identification of
central problems
in a complex
situation
Failure to
identify major
problems
involved in a
complex
business
situation
Identification
of problems
but not clear
on main and
related
issues.
Identification of
the main
problems but
not all relevant
issues and
other problems
that may be
related
Identification of
all major
problems and
relevant issues
involved in the
situation
Recognition of
multiple causal
factors involved
in a problem
situation
Failure to
identify any
causal factors
involved in a
problem
situation
Identified
causes, but
not clear on
main problem
and other
factors.
Identified the
main causal
factor but no
other relevant
factors
important for
problem
solving
Identified all
relevant causal
factors
involved in a
problem
situation
Correct usage
of theories,
methods and/or
principles to
Usage of
incorrect or
irrelevant
theories and
principles to
Ineffective
application of
relevant
theories,
Correct
Identification of
major theories ,
methods, and
principles to
Effective
application of
all relevant
theories,
methods,
address the
problem
address the
problem
methods or
principles.
address the
problem
and/or
principles to
address the
problem
Generation of
plausible
alternative
solutions to
solve the
problem
Failure to
generate
plausible
alternative
solutions to
solve a
problem
Generation of
plausible
alternative
solutions to
the problem
Generation of
plausible
alternative
solutions to the
problem that
are either
effective or
efficient.
Generation of
highly efficient
and effective
solutions to the
problem
Provision of
persuasive
reasons and
evidence in
support of
proposed
solutions
Failure to
provide
reasons or
evidence to
support
proposed
solutions
Provides
reasons or
evidences but
not
reasonable or
supported.
support
proposed
solutions
Provision of
reasonable
arguments and
evidence to
support
proposed
solutions
Provision of
strongly
persuasive
reasons and
evidence to
support
proposed
solutions
Scoring 5-9 Points 10-12 Points 13-15 Points 16-20
Mktg305 Group Project Case Fall 2016
Many products and services are purchased differently than just a
few years ago. Each
generation has different challenges and technologies. The
millenniums are the next
market segment for tourism. There are a few lodging styles to
look at such as resorts,
budget hotels/motels, casinos, and boutique hotels. There are
also many activities
such as theatre, music, pro sports, hiking, museums, restaurants,
etc.
A family member of yours is looking to build a Millennium
friendly vacation destination in
Coachella Valley (Palm Desert Area). They have already
committed their life savings to
finance the project. Since they are not millenniums they are
concerned the target
market may not like their ideas. You are asked to provide a
Mini Marketing Plan with
your researched recommendations for a Millennium destination
spot in the Coachella
Valley.
What lodging, food, and/or activities would be successful for
the Millenniums in the
Coachella Valley?
information and justified
recommendations
visually pleasing.
Mini Marketing Plan Outline
Guidelines:
-12 single spaced pages
– many headings and bullets
Product/Service
History
Characteristics
Distribution
Competition
Problem
Opportunity
Target Market
Demographics
Psychographics
Geographic
Purchase behavior
Communication Style
SWOT Analysis Worksheet
STRENGTHS (to build on)
-
-
-
-
WEAKNESSES (to overcome)
-
-
-
-
OPPORTUNITIES (to explore)
-
-
-
-
THREATS (to minimize)
-
-
-
-
SWOT Actionable Recommendations:
Weakness #1 Recommendation:
Weakness #1 Recommendation:
Threat #1 Recommendation:
Threat #2 Recommendation:
Weakness + Threat #1 Recommendation:
Final Recommendations
Message
Media
Promotions
Conclusion
Each Group Members participation level (rate 1-10)
BUAD 4980
STRATEGIC MANAGEMENT
Chapter 12: Strategic Leadership
( Introduction
1. Definitions: Several definitions need to be specified:
1.1. Leadership: capacity to secure the cooperation of other
organizational members in formulating and implementing
strategies;
1.2. Strategic leadership: process of establishing direction, and
motivating and inspiring organizational members to move in
that direction;
1.3. Transactional leadership: capacity to motivate
organizational members by exchanging rewards for
performance; and
1.4. Transformational leadership: capacity to motivate
organizational members by inspiring involvement and
participation in company’s direction.
2. Strategic leaders:
2.1. Strategic leaders: senior managers at the top of
organization. The top strategic leader is the CEO (chief
executive officer). Other strategic leaders include the board of
directors, top management team (corporate staff), and divisional
managers
2.2. Responsibilities of strategic leaders: making sure the firm
uses the strategic management process for the purpose of
effectively formulating and implementing strategies
2.3. Managerial succession: there are two labor markets for
managerial succession:
- Internal managerial labor market: promotion or transfer for
managerial positions within the firm. If a firm wants to stay the
course (continuity), then the internal labor market is best. The
reason is because existing personnel is familiar with valuable
firm-specific knowledge
- External labor market: seeking professional managers from
outside the firm. If a firm needs a major change, then outsiders
are necessary. The reason is because they have broader, less
limited perspectives, which encourages innovation and strategic
change
( Strategic leaders’ roles (or activities)
To successfully manage their firm, strategic leaders must
perform key critical roles:
1. Determining strategic direction: refers to developing a firm’s
long-term vision. Effectively determining strategic direction
involves anticipating future (five to ten years forward),
instilling flexibility & adaptive capability, communicating
vision to organizational members
2. Developing human resources: human resources include
human capital and social capital:
2.1. Human capital: refers to the knowledge and skills of a
firm’s workforce (employees and managers). Effectively
developing human capital involves identifying critical
skills/abilities needed, setting hiring practices that fulfill those
needs, developing training programs in anticipation of the
future
2.2. Social capital: refers to relationships that the workforce has
inside and outside the firm. Such relationships are needed to
effectively accomplish the tasks that create value for customers
and shareholders. Effectively developing social capital involves
cooperation among employees and managers across all units of
the firm to produce desirable outcomes needed
3. Establishing balanced organizational controls: effective
organizational controls involve balancing various aspects of
performance (balanced scorecard), focusing on critical
implementation issues such as strategic flexibility, commitment,
motivation, and reward system
4. Sustaining organizational (corporate) culture:
4.1. Concept: Corporate culture is a set of core values,
ideologies and symbols that are shared throughout an
organization and that influences the way the firm conducts
business. They include patterns of how things are done around
here, taboos and don’ts, traditions, ethical standards, etc.
Corporate culture is determined by the founder, senior
leadership, and also by forces such as work groups and
coalitions.
4.2. Sustaining corporate culture: Corporate culture is
perpetuated/sustained through hiring practices (screening and
selection), rewarding and honoring desired behaviors, process
of socialization (indoctrination through story-telling, legends),
supervisory practices and attitudes, and reinforcement of core
values that are reiterated over and over again
4.3. Obstacles to sustaining corporate culture: weak culture
(existence of several sub-cultures), and resistance to change
(once established, culture is difficult to change)
4.4. Effective corporate culture: effectively sustaining corporate
culture involves actions that results in (1) a strong culture
(culture that is widely accepted by all/most members), and (2)
an adaptive culture (culture that encourages entrepreneurship to
manage strategic change).
5. Implementing strategic change:
5.1. Concept:
- Strategic change is a movement away from present state
towards desired future state to create or sustain competitive
advantage.
- The types of strategic change are: (1) reengineering:
fundamental rethinking & radical redesign of activities and
relationships to achieve desirable performance on cost, quality,
service and speed, (2) restructuring: set of decisions related to
changing the organization of work, reducing cash available to
top managers, and acquiring/divesting businesses, and (3)
innovation: process of using skills & resources to create new
products & new processes, in order to change & better respond
to changing customer needs. Innovation can be either
incremental or radical.
5.2. Steps needed to effectively implement strategic change:
- Recognize the need for change: when signs of a problem
occur, the problem has started a long time ago, so leaders need
to anticipate (not react to) change
- Identify and overcome barriers to change: people & groups
resist change, so leaders need to analyze factors causing
resistance and determine how to overcome such resistance.
Barriers to change include status quo (fear of the unknown),
systemic barriers (bureaucratic structure involving rules &
regulations), political barriers (conflicts arising from possible
change in power balance), behavioral barriers (biases based on
frame of mind, education, etc.)
- Create shared vision of change: leaders need to inspire
organizational members with the vision of what the company
will become after change
- Institutionalize change: leaders need to develop a plan for
implementing change, ensure that change is proceeding as
planned, & motivate organizational members to work toward the
desired change through appropriate rewards
( Effective strategic leadership
To be able to effectively perform their roles, strategic leaders
need to have power.
1. Power:
1.1. Concept: power is the ability to influence the behavior of
organizational members in order to achieve own interests.
1.2. Sources of power: there are several sources of power,
including:
- Formal power: comes from the position in the hierarchy (e.g.
as a CEO)
- Informal power: comes from several sources: charisma,
expertise, ability to cope with uncertainty, control over
resources, control over information
2. Politics:
Power is exercised through politics. Politics is the tactics put in
place to acquire and use power. Strategic leaders must devise
tactics that will facilitate the acquisition of power so they can
successfully perform their roles. Examples of tactics include
appointing people to key positions, delegating authority,
allocating budget, etc.
PAGE
1
10-4
Instructor’s ManualBUAD 4980
STRATEGIC MANAGEMENTChapter 10. Corporate
Governance
( INTRODUCTION
Strategic controls involved monitoring organizational members
to evaluate if activities are performed effectively. The purpose
of strategic controls is to provide managers with (1) incentives
to motivate managers & employees so they work toward
corporate goals, and (2) feedback on how well an organization
and its members are performing.
There are two sets of strategic controls: corporate governance
(control of top managers), and organizational controls (control
of other organizational members). Organizational controls are
discussed in chapter 11.
Corporate governance is the set of mechanisms used to manage
the relationship among stakeholders and to determine and
control the strategic direction and performance of organizations.
A brief discussion of stakeholders is needed to better
understand corporate governance.
( STAKEHOLDERS
1. Definition: Stakeholders are individuals and organizations
(institutions) with interests in an organization.
2. Types of stakeholders: there are three sets of stakeholders
- Capital market stakeholders: shareholders, lenders
- Product market stakeholders: customers, suppliers,
communities, unions
- Organizational stakeholders: managers, employees
3. Conflicting interests: Stakeholders have different interests.
Often those interests are in conflict (for example conflict
between employees-owners, employees-managers). At the core
of corporate governance is the conflict between owners and
managers. It is the responsibility of corporate managers to
manage conflicting interests
4. Assuming corporate responsibilities: To balance conflicting
interests, managers need to assume their corporate
responsibilities, that is, they should balance different and often
conflicting interests. So when designing vision & mission, and
when setting goals & objectives, they need to balance the
interests of various stakeholders.
5. Corporate responsibilities: Managers have several
responsibilities:
- Basic responsibilities: Economic responsibilities (paying
dividends, wages, debts, etc.) and legal responsibilities (paying
taxes, meeting legal standards, abiding by laws)
- Social responsibilities: Ethical responsibilities (actions valued
by society but not yet put into laws), and discretionary
responsibilities (actions not yet valued by society)
( SEPARATION OF OWNERSHIP AND MANAGEMENT
1. Small organizations: There is no separation between
ownership and management, because the owner is also the
manager:
- Need for information processing is simple
- Little organizational skills needed to manage.
- No control, as there is little to no governance problem
2. Large organizations: Separation ownership and management:
- Complexity: large organizations are too big to manage because
of increased information processing requirements
- Professional managers: the need for individuals with
sophisticated skills to manage complexity results in the hiring
of professional managers
- Owners will engage in agency relationships with professional
managers
3. Agency relationships:
- An agency relationship exists when the owner (the principal)
delegates decision making to a professional manager (the agent)
in return for a compensation.
- Corporate governance problem: the existence of agency
relationships has the potential to result in agency problem (also
known as corporate governance problem). Corporate governance
problem refers to managers’ tendency to serve own interests
instead of serving owners’ interests.
- Opportunism: corporate governance problem is caused by
managerial opportunism. Opportunism is defined as seeking
self-interest with guile (i.e. with deceptive behavior).
( GOVERNANCE MECHANISMS
Governance mechanisms are control actions taken to minimize
corporate governance problem. There are several governance
mechanisms. Four governance mechanisms will be discussed,
including three internal governance mechanisms (ownership
concentration, the board of directors, and executive
compensation), and one external governance mechanism (the
market for corporate control).
1. Ownership concentration:
Ownership concentration is a governance mechanism defined
both by the number of large-block owners and by the total
percentage of the firm’s shares that they own. Ownership is
concentrated when there are large-block shareholders (investors
who typically own at least five percent of the firm’s shares).
Ownership is diffused when there is a large number of
shareholders with small holdings (with few/no large-block
shareholders).
Diffuse ownership produces weak monitoring of managerial
decisions. The reason is because several small owners will be
ineffective in coordinating their actions to control corporate
managers.
Concentrated ownership can be effective in controlling top
managers. The reason is because large-block shareholders will
be motivated to coordinate their actions as they have invested
large amounts of financial resources. In recent years, large-
block ownership by individuals has declined, but they have been
replaced by significant positions held by institutional owners.
Institutional owners are large-block shareholder positions
controlled by financial institutions, such as stock mutual funds
and pension funds.
2. Board of directors:
The board of directors is a governance mechanism whereby a
group of elected individuals (directors) have the primary
responsibility to act in the owners’ interests by formally
monitoring and controlling the corporation’s top-level
executives.
The board of directors is comprised of insiders, related
outsiders, and outsiders. Insiders are represented by the firm’s
CEO and a few top-level managers. Related outsiders are
individuals who are not involved in the firm’s day-to-day
operations, but may have a relationship with the company (e.g.
the firm’s legal counsel, a large customer or supplier).
Outsiders are individuals who are independent of the firm
(examples include the president of a university or a community
volunteer).
Because the primary role of the board of directors is to monitor
and ratify major managerial actions to protect the interests of
owners, there is a call by advocates of board reform that
outsiders should represent a significant majority of a board’s
membership.
3. Executive Compensation:
Executive compensation is a governance mechanism that seeks
to align managers’ and owners’ interests through salary, bonus,
and long-term incentive compensation such as stock options. It
is difficult to assess the effectiveness of executive
compensation for a number of reasons. First, compensation is
often linked to more measurable outcomes such as financial
performance (but not strategic performance). Second, because
decisions made by top-level managers are likely to affect firm
performance over an extended period of time, it is difficult to
assess the effect of current decisions using current period
performance. Third, many variables (or outside factors)
intervene between management behavior and firm performance
(e.g., uncontrollable shifts in the environment).
The compensation received by top-level managers, especially by
CEOs, is often a subject of controversy. Large CEO
compensation packages result mostly from the inclusion of
stock options and stock in the total pay packages. Research has
shown that managers owning more than one percent of the
firm’s stock are less likely to be forced out of their jobs, even
when the firm is performing poorly. Also, annual bonuses may
provide incentives to pursue short-run objectives at the expense
of the firm’s long-term interests.
4. Market for corporate control:
The market for corporate control is an external governance
mechanism that consists of individuals and firms who buy
ownership positions in (or take over) potentially undervalued
firms. They do this in order to form a new division in an
established diversified firm, merge two previously separate
firms, and usually replace the target firm’s management team to
revamp the strategy that caused low firm performance.
Because of the threat of dismissal, managers have devised a
number of defensive tactics designed to prevent takeovers.
These tactics include:
- Managerial pay interventions, such as golden parachutes
(contract specifying that a top manager will receive a large and
lucrative benefit in the event the company is acquired and the
employment is terminated)
- Asset restructuring, such as divesting a business unit or
division
- Financial restructuring—e.g., stock repurchases, paying out a
firm’s free cash flows as a dividend
- Changing the state of incorporation
- Making targeted shareholder repurchases (known as
greenmail)
( GOVERNANCE MECHANISMS AND ETHICAL BEHAVIOR
Governance mechanisms discussed focus on ensuring that
managers work effectively toward meeting their obligation to
maximize shareholder wealth. However, shareholders are only
one group of the firm’s stakeholders. Over the long term, the
demands of other key stakeholders—such as employees,
customers, suppliers, and the community—also must be
satisfied in order to maximize shareholder wealth. For that
reason and others, governance mechanisms must be carefully
designed and implemented so that managers’ attention is not
focused on maximizing short-term returns and to ensure that
they consider the interests of all stakeholders (i.e. they must
assume their corporate responsibilities).
5
BUAD 4980
STRATEGIC MANAGEMENT
REPORT #3: STRATEGY IMPLEMENTATION
GENERAL MOTORS
1. INTRODUCTION
Introduce your report.
2. CONCEPTS
2.1. Corporate governance:
In one sentence each, define the following: agency relationship,
managerial opportunism, and corporate governance problem
(also known as agency problem). In three to five sentences,
explain why the separation between ownership and management
in large companies has the potential to result in corporate
governance problem.
In one sentence each, define the following governance
mechanisms: board of directors, ownership concentration,
executive compensation, and market for corporate control.
2.2. Organizational structure:
In one sentence, define vertical structure. In one sentence each,
give the characteristics of a flat structure. In one sentence, give
the characteristics of a tall structure. In one sentence, list the
problems of a tall structure. In three to five sentences, explain
ONE of those problems.
In one sentence, define horizontal structure. In one sentence
each, define the following types of horizontal structures: simple
structure, functional structure, geographic divisional structure,
multidivisional structure (M-form), and matrix structure.
In one sentence each, define the following: centralization,
formalization, and integration
2.3. Strategic leadership:
In one sentence, define strategic leaders. In one sentence, give
the title of the top strategic leader. In one sentence, identify
(give the names of) the five roles that top managers need to
assume if they are to effectively exercise their strategic
leadership. In three to five sentences, explain ONE of these
roles.
3. ANALYSIS
3.1. Corporate governance:
In four to six sentences, discuss whether or not the CEO was
serving his/her own interests instead of the interests of the
owners (REMINDER: if the CEO is serving his/her own
interests instead of owners’ interests, the company is having a
corporate governance problem).
In one sentence, identify ONE governance mechanism your
company uses in an attempt to minimize the corporate
governance problem. In four to six sentences, explain your
answer.
3.2. Organizational structure:
In one sentence, identify the type of your company’s vertical
structure. In four to six sentences, explain your answer.
In one sentence, identify the type of your company’s horizontal
structure. In four to six sentences, explain your answer.
3.3. Strategic leadership:
In four to six sentences, discuss whether your company’s CEO
was effective in exercising his/her strategic leadership role.
4. EVALUATION
4.1. Problem:
In one sentence, state the problem your company is facing (for
example: The problem General Motors is facing is slow
decision-making). In one sentence, identify ONE factor that has
caused the problem (for example: The factor that is causing
slow decision-making is the very tall structure that General
Motors has). NOTE: The factor that is causing the problem must
have been discussed in your analysis (Section 3 above).
4.2.
Solution
:
In one sentence, propose ONE solution your company should
use to correct the problem. In four to six sentences, explain how
your proposed solution will help to resolve the problem.
5. CONCLUSION
Conclude your report.
ADDITIONAL INSTRUCTIONS
Please write Report #3 based on my TEACHING NOTES. To
help you write a good report, please do the following:
- First, open this file (Report3.doc) and print it so you have all
instructions on a hard copy
- Second, keep the cover page (as the one on page 1 of this file,
but write your company name and your team members’ names).
Also, keeping ONLY headings, sub-headings, delete all
directions, and these additional instructions. Then save the file.
- Third, write your report using the file you have saved, as it
meets the following requirements: it has all headings and sub-
headings, it has page numbers, it has no header/footer, its font
is Times New Roman size 12, and it is double-spaced.
- Fourth, have a transition paragraph right after headings 2, 3
and 4. Also, when appropriate, have a transition sentence or
sentences after sub-headings.
- Fifth, write your report in paragraph form (no bullets, no
listing) with complete sentences.
- Six, for long answers (which may be the case when there are
several issues to be addressed), have more than one paragraph,
each paragraph making a distinctive point.
- Last, when your report is done, print 1 (ONE) copy on one
side of the paper and staple it.
NOTE: Do not provide answers that go beyond what is being
asked. Specifically:
- If I ask one question, don’t provide answers to five questions.
- When answering, pay attention to the number of sentences as
indicated. Also, make an effort to avoid long sentences
- For long answers (which may be the case when there are
several issues to be addressed), have more than one paragraph,
each paragraph making a distinctive point.
- DO NOT skip a question (if you do, I will deduct 10 points for
each question that you skip).
4

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  • 1. Mktg305 Marketing Principles Group Project Assignment How to SWOT Identify the problems. Teaching cases are typified by the presentation of a problem, or sometimes multiple problems, for the reader to systematically solve through the case analysis process. After initially reading or skimming the case, you should read through the case again for the purpose of determining what problems the main character (principal) in the case is faced with solving. Analyze the situation. After determining the problem faced in the case, you need to analyze the situation surrounding the focal organization in the case. At the core of this analysis is a SWOT analysis (SWOT is an acronym for strengths, weaknesses, opportunities, and threats). Within the organization, what strengths and weaknesses does the company have? Externally, or outside the organization, what opportunities may be available to the organization and what threats could it face? If you are unfamiliar with a SWOT analysis, you can find a wealth of resources on the topic through an Internet search or at a library. Also note that other types of situational analysis techniques may be available other than the SWOT analysis.
  • 2. Generate potential solutions. The next step in the case analysis is the most creative element, in which you generate a list of potential solutions to the problems faced in the case. This is a brainstorming activity, although it is typical to narrow the list of potential solutions to the two to four most reasonable options for solving the problem. Evaluate potential solutions. After developing, and potentially narrowing, a list of potential solutions, evaluate the advantages and disadvantages, or pros and cons, of each. With each solution, what are its positive and negative characteristics and potential consequences if implemented? Is the solution practical to implement? Effective managers are able to analyze the virtues of each potential solution in the future, as well as what pitfalls could occur. Choose the optimal solution. The final step in the case analysis process is to choose the best solution. Based on the advantages and disadvantages of the potential solutions examined in the previous two steps of this process, which do you believe is the right choice for the case principal and organization to take? Most important, you need to be able to support and defend this choice. Be prepared to answer the question of why you believe it’s the right choice and back up your choice with facts, data, or examples. Potential Questions to Ask A SWOT analysis will answer these questions:
  • 3. company? industry and its environment? eaknesses be converted to strengths? Any threats into opportunities? opportunities? result of the SWOT analysis? How to Perform a SWOT Analysis (Tim Berry) four areas assign each significant factor, positive and negative, to one of the four categories, allowing you to take an objective look at the business confirming your goals and your marketing strategy.
  • 4. Strengths Strengths describe the positive attributes, tangible and intangible, internal to the organization. They are within your control. Strengths capture the positive aspects internal to the business that add value or offer a competitive advantage. Weaknesses Weaknesses are factors that are within your control that detract from your ability to obtain or maintain a competitive edge. Which areas might be improved? Weaknesses might include: These are factors that are under the control of the business, but for a variety of reasons, are in need of improvement to effectively accomplish marketing
  • 5. objectives. The more accurately you identify weaknesses, the more valuable the SWOT will be. Opportunities What opportunities exist in your market, or in the environment, from which you hope to benefit? These opportunities reflect the potential you can realize through implementing marketing strategies. Opportunities may be the result of: ociated with current situations your services If relevant, place timeframes around the opportunities. Does it represent an ongoing opportunity, or is it a window of opportunity? How critical is the timing? If you have identified “opportunities” that are internal to the organization and within the control of the business, you will want to classify them as strengths. Threats Threats include factors beyond your control that could place your marketing strategy, or
  • 6. the business itself, at risk. You have no control over them, but you may benefit by having contingency plans to address them if they should occur. A threat is a challenge created by an unfavorable trend or development that may lead to deteriorating revenues or profits. Competition – existing or potential – is always a threat. Threats may include: -frog” technology that may make your products rvices What situations might threaten your marketing efforts? Get your worst fears on the table. Part of this list may be speculative in nature, and still add value to your SWOT analysis. The better you are at identifying potential threats, the more likely you can position the company to proactively plan for and respond to them. You will be looking back at these threats when you consider contingency plans.
  • 7. The implications The internal strengths and weaknesses, compared to the external opportunities and threats, can offer additional insight into the condition and potential of the business. How can you use the strengths to better take advantage of the opportunities ahead and minimize the harm that threats may introduce if they become a reality? How can weaknesses be minimized or eliminated? What Weaknesses and Threats can be detoured? Grading Analysis Grading Scheme: Knowledge: (20 Points) Understanding of the past, current and future market needs. Analysis of basic competitors, products, and opportunities. Thinking: (20 Points) Strengths, Weaknesses, Opportunities and Threats relate to your product. Analysis is clear and thoughtful and is based on market needs competition and any other relevant matters. A well-developed explanation of each shows what your product does well and identifies both present and potential weaknesses.
  • 8. Application: (20 Points) A great deal of critical thinking is obvious. Appears that the group has carefully analyzed their collected thoughts and has drawn appropriate conclusions. Unique overall plan that is company and customer focused. Communication: (20 Points) Work is completed neatly, is well written, in outline format, there are no spelling/grammatical errors. Chart is logically organized. There is precise and complex vocabulary used. Sentences are properly written. Your thoughts are clear and thought- provoking. The voice of the student as the writer is evident. Target Market: (20 Points) The Target Market is very well defined. An assessment of the market, demographics and the economy are included. Expectations are to see unique characteristics from the demographics and psychographics with references. Total 100 Points Problem Solving Assessment Rubric Learning Objective Unacceptable (1) Acceptable (2)
  • 9. Proficient (3) Superior (4) Identification of central problems in a complex situation Failure to identify major problems involved in a complex business situation Identification of problems but not clear on main and related issues. Identification of the main problems but not all relevant issues and other problems that may be related
  • 10. Identification of all major problems and relevant issues involved in the situation Recognition of multiple causal factors involved in a problem situation Failure to identify any causal factors involved in a problem situation Identified causes, but not clear on main problem and other factors. Identified the main causal factor but no other relevant factors important for problem solving
  • 11. Identified all relevant causal factors involved in a problem situation Correct usage of theories, methods and/or principles to Usage of incorrect or irrelevant theories and principles to Ineffective application of relevant theories, Correct Identification of major theories , methods, and principles to Effective application of all relevant theories, methods,
  • 12. address the problem address the problem methods or principles. address the problem and/or principles to address the problem Generation of plausible alternative solutions to solve the problem Failure to generate plausible alternative solutions to solve a problem Generation of plausible alternative
  • 13. solutions to the problem Generation of plausible alternative solutions to the problem that are either effective or efficient. Generation of highly efficient and effective solutions to the problem Provision of persuasive reasons and evidence in support of proposed solutions Failure to provide reasons or evidence to support proposed solutions Provides reasons or
  • 14. evidences but not reasonable or supported. support proposed solutions Provision of reasonable arguments and evidence to support proposed solutions Provision of strongly persuasive reasons and evidence to support proposed solutions Scoring 5-9 Points 10-12 Points 13-15 Points 16-20 Mktg305 Group Project Case Fall 2016 Many products and services are purchased differently than just a
  • 15. few years ago. Each generation has different challenges and technologies. The millenniums are the next market segment for tourism. There are a few lodging styles to look at such as resorts, budget hotels/motels, casinos, and boutique hotels. There are also many activities such as theatre, music, pro sports, hiking, museums, restaurants, etc. A family member of yours is looking to build a Millennium friendly vacation destination in Coachella Valley (Palm Desert Area). They have already committed their life savings to finance the project. Since they are not millenniums they are concerned the target market may not like their ideas. You are asked to provide a Mini Marketing Plan with your researched recommendations for a Millennium destination spot in the Coachella Valley. What lodging, food, and/or activities would be successful for the Millenniums in the Coachella Valley? information and justified recommendations visually pleasing.
  • 16. Mini Marketing Plan Outline Guidelines: -12 single spaced pages – many headings and bullets Product/Service History Characteristics Distribution Competition Problem Opportunity Target Market Demographics Psychographics Geographic Purchase behavior Communication Style SWOT Analysis Worksheet STRENGTHS (to build on) - - - -
  • 17. WEAKNESSES (to overcome) - - - - OPPORTUNITIES (to explore) - - - - THREATS (to minimize) - - - - SWOT Actionable Recommendations: Weakness #1 Recommendation: Weakness #1 Recommendation: Threat #1 Recommendation: Threat #2 Recommendation: Weakness + Threat #1 Recommendation: Final Recommendations Message Media Promotions Conclusion Each Group Members participation level (rate 1-10) BUAD 4980
  • 18. STRATEGIC MANAGEMENT Chapter 12: Strategic Leadership ( Introduction 1. Definitions: Several definitions need to be specified: 1.1. Leadership: capacity to secure the cooperation of other organizational members in formulating and implementing strategies; 1.2. Strategic leadership: process of establishing direction, and motivating and inspiring organizational members to move in that direction; 1.3. Transactional leadership: capacity to motivate organizational members by exchanging rewards for performance; and 1.4. Transformational leadership: capacity to motivate organizational members by inspiring involvement and participation in company’s direction. 2. Strategic leaders: 2.1. Strategic leaders: senior managers at the top of organization. The top strategic leader is the CEO (chief executive officer). Other strategic leaders include the board of directors, top management team (corporate staff), and divisional managers 2.2. Responsibilities of strategic leaders: making sure the firm uses the strategic management process for the purpose of effectively formulating and implementing strategies 2.3. Managerial succession: there are two labor markets for managerial succession: - Internal managerial labor market: promotion or transfer for
  • 19. managerial positions within the firm. If a firm wants to stay the course (continuity), then the internal labor market is best. The reason is because existing personnel is familiar with valuable firm-specific knowledge - External labor market: seeking professional managers from outside the firm. If a firm needs a major change, then outsiders are necessary. The reason is because they have broader, less limited perspectives, which encourages innovation and strategic change ( Strategic leaders’ roles (or activities) To successfully manage their firm, strategic leaders must perform key critical roles: 1. Determining strategic direction: refers to developing a firm’s long-term vision. Effectively determining strategic direction involves anticipating future (five to ten years forward), instilling flexibility & adaptive capability, communicating vision to organizational members 2. Developing human resources: human resources include human capital and social capital: 2.1. Human capital: refers to the knowledge and skills of a firm’s workforce (employees and managers). Effectively developing human capital involves identifying critical skills/abilities needed, setting hiring practices that fulfill those needs, developing training programs in anticipation of the future 2.2. Social capital: refers to relationships that the workforce has inside and outside the firm. Such relationships are needed to effectively accomplish the tasks that create value for customers and shareholders. Effectively developing social capital involves cooperation among employees and managers across all units of the firm to produce desirable outcomes needed 3. Establishing balanced organizational controls: effective organizational controls involve balancing various aspects of performance (balanced scorecard), focusing on critical
  • 20. implementation issues such as strategic flexibility, commitment, motivation, and reward system 4. Sustaining organizational (corporate) culture: 4.1. Concept: Corporate culture is a set of core values, ideologies and symbols that are shared throughout an organization and that influences the way the firm conducts business. They include patterns of how things are done around here, taboos and don’ts, traditions, ethical standards, etc. Corporate culture is determined by the founder, senior leadership, and also by forces such as work groups and coalitions. 4.2. Sustaining corporate culture: Corporate culture is perpetuated/sustained through hiring practices (screening and selection), rewarding and honoring desired behaviors, process of socialization (indoctrination through story-telling, legends), supervisory practices and attitudes, and reinforcement of core values that are reiterated over and over again 4.3. Obstacles to sustaining corporate culture: weak culture (existence of several sub-cultures), and resistance to change (once established, culture is difficult to change) 4.4. Effective corporate culture: effectively sustaining corporate culture involves actions that results in (1) a strong culture (culture that is widely accepted by all/most members), and (2) an adaptive culture (culture that encourages entrepreneurship to manage strategic change). 5. Implementing strategic change: 5.1. Concept: - Strategic change is a movement away from present state towards desired future state to create or sustain competitive advantage.
  • 21. - The types of strategic change are: (1) reengineering: fundamental rethinking & radical redesign of activities and relationships to achieve desirable performance on cost, quality, service and speed, (2) restructuring: set of decisions related to changing the organization of work, reducing cash available to top managers, and acquiring/divesting businesses, and (3) innovation: process of using skills & resources to create new products & new processes, in order to change & better respond to changing customer needs. Innovation can be either incremental or radical. 5.2. Steps needed to effectively implement strategic change: - Recognize the need for change: when signs of a problem occur, the problem has started a long time ago, so leaders need to anticipate (not react to) change - Identify and overcome barriers to change: people & groups resist change, so leaders need to analyze factors causing resistance and determine how to overcome such resistance. Barriers to change include status quo (fear of the unknown), systemic barriers (bureaucratic structure involving rules & regulations), political barriers (conflicts arising from possible change in power balance), behavioral barriers (biases based on frame of mind, education, etc.) - Create shared vision of change: leaders need to inspire organizational members with the vision of what the company will become after change - Institutionalize change: leaders need to develop a plan for implementing change, ensure that change is proceeding as planned, & motivate organizational members to work toward the desired change through appropriate rewards ( Effective strategic leadership To be able to effectively perform their roles, strategic leaders need to have power. 1. Power: 1.1. Concept: power is the ability to influence the behavior of
  • 22. organizational members in order to achieve own interests. 1.2. Sources of power: there are several sources of power, including: - Formal power: comes from the position in the hierarchy (e.g. as a CEO) - Informal power: comes from several sources: charisma, expertise, ability to cope with uncertainty, control over resources, control over information 2. Politics: Power is exercised through politics. Politics is the tactics put in place to acquire and use power. Strategic leaders must devise tactics that will facilitate the acquisition of power so they can successfully perform their roles. Examples of tactics include appointing people to key positions, delegating authority, allocating budget, etc. PAGE 1 10-4 Instructor’s ManualBUAD 4980 STRATEGIC MANAGEMENTChapter 10. Corporate Governance ( INTRODUCTION Strategic controls involved monitoring organizational members to evaluate if activities are performed effectively. The purpose of strategic controls is to provide managers with (1) incentives to motivate managers & employees so they work toward corporate goals, and (2) feedback on how well an organization and its members are performing.
  • 23. There are two sets of strategic controls: corporate governance (control of top managers), and organizational controls (control of other organizational members). Organizational controls are discussed in chapter 11. Corporate governance is the set of mechanisms used to manage the relationship among stakeholders and to determine and control the strategic direction and performance of organizations. A brief discussion of stakeholders is needed to better understand corporate governance. ( STAKEHOLDERS 1. Definition: Stakeholders are individuals and organizations (institutions) with interests in an organization. 2. Types of stakeholders: there are three sets of stakeholders - Capital market stakeholders: shareholders, lenders - Product market stakeholders: customers, suppliers, communities, unions - Organizational stakeholders: managers, employees 3. Conflicting interests: Stakeholders have different interests. Often those interests are in conflict (for example conflict between employees-owners, employees-managers). At the core of corporate governance is the conflict between owners and managers. It is the responsibility of corporate managers to manage conflicting interests 4. Assuming corporate responsibilities: To balance conflicting interests, managers need to assume their corporate responsibilities, that is, they should balance different and often conflicting interests. So when designing vision & mission, and when setting goals & objectives, they need to balance the interests of various stakeholders.
  • 24. 5. Corporate responsibilities: Managers have several responsibilities: - Basic responsibilities: Economic responsibilities (paying dividends, wages, debts, etc.) and legal responsibilities (paying taxes, meeting legal standards, abiding by laws) - Social responsibilities: Ethical responsibilities (actions valued by society but not yet put into laws), and discretionary responsibilities (actions not yet valued by society) ( SEPARATION OF OWNERSHIP AND MANAGEMENT 1. Small organizations: There is no separation between ownership and management, because the owner is also the manager: - Need for information processing is simple - Little organizational skills needed to manage. - No control, as there is little to no governance problem 2. Large organizations: Separation ownership and management: - Complexity: large organizations are too big to manage because of increased information processing requirements - Professional managers: the need for individuals with sophisticated skills to manage complexity results in the hiring of professional managers - Owners will engage in agency relationships with professional managers 3. Agency relationships: - An agency relationship exists when the owner (the principal)
  • 25. delegates decision making to a professional manager (the agent) in return for a compensation. - Corporate governance problem: the existence of agency relationships has the potential to result in agency problem (also known as corporate governance problem). Corporate governance problem refers to managers’ tendency to serve own interests instead of serving owners’ interests. - Opportunism: corporate governance problem is caused by managerial opportunism. Opportunism is defined as seeking self-interest with guile (i.e. with deceptive behavior). ( GOVERNANCE MECHANISMS Governance mechanisms are control actions taken to minimize corporate governance problem. There are several governance mechanisms. Four governance mechanisms will be discussed, including three internal governance mechanisms (ownership concentration, the board of directors, and executive compensation), and one external governance mechanism (the market for corporate control). 1. Ownership concentration: Ownership concentration is a governance mechanism defined both by the number of large-block owners and by the total percentage of the firm’s shares that they own. Ownership is concentrated when there are large-block shareholders (investors who typically own at least five percent of the firm’s shares). Ownership is diffused when there is a large number of shareholders with small holdings (with few/no large-block shareholders). Diffuse ownership produces weak monitoring of managerial decisions. The reason is because several small owners will be ineffective in coordinating their actions to control corporate managers. Concentrated ownership can be effective in controlling top managers. The reason is because large-block shareholders will be motivated to coordinate their actions as they have invested large amounts of financial resources. In recent years, large-
  • 26. block ownership by individuals has declined, but they have been replaced by significant positions held by institutional owners. Institutional owners are large-block shareholder positions controlled by financial institutions, such as stock mutual funds and pension funds. 2. Board of directors: The board of directors is a governance mechanism whereby a group of elected individuals (directors) have the primary responsibility to act in the owners’ interests by formally monitoring and controlling the corporation’s top-level executives. The board of directors is comprised of insiders, related outsiders, and outsiders. Insiders are represented by the firm’s CEO and a few top-level managers. Related outsiders are individuals who are not involved in the firm’s day-to-day operations, but may have a relationship with the company (e.g. the firm’s legal counsel, a large customer or supplier). Outsiders are individuals who are independent of the firm (examples include the president of a university or a community volunteer). Because the primary role of the board of directors is to monitor and ratify major managerial actions to protect the interests of owners, there is a call by advocates of board reform that outsiders should represent a significant majority of a board’s membership. 3. Executive Compensation: Executive compensation is a governance mechanism that seeks to align managers’ and owners’ interests through salary, bonus, and long-term incentive compensation such as stock options. It is difficult to assess the effectiveness of executive compensation for a number of reasons. First, compensation is often linked to more measurable outcomes such as financial performance (but not strategic performance). Second, because decisions made by top-level managers are likely to affect firm
  • 27. performance over an extended period of time, it is difficult to assess the effect of current decisions using current period performance. Third, many variables (or outside factors) intervene between management behavior and firm performance (e.g., uncontrollable shifts in the environment). The compensation received by top-level managers, especially by CEOs, is often a subject of controversy. Large CEO compensation packages result mostly from the inclusion of stock options and stock in the total pay packages. Research has shown that managers owning more than one percent of the firm’s stock are less likely to be forced out of their jobs, even when the firm is performing poorly. Also, annual bonuses may provide incentives to pursue short-run objectives at the expense of the firm’s long-term interests. 4. Market for corporate control: The market for corporate control is an external governance mechanism that consists of individuals and firms who buy ownership positions in (or take over) potentially undervalued firms. They do this in order to form a new division in an established diversified firm, merge two previously separate firms, and usually replace the target firm’s management team to revamp the strategy that caused low firm performance. Because of the threat of dismissal, managers have devised a number of defensive tactics designed to prevent takeovers. These tactics include: - Managerial pay interventions, such as golden parachutes (contract specifying that a top manager will receive a large and lucrative benefit in the event the company is acquired and the employment is terminated) - Asset restructuring, such as divesting a business unit or division - Financial restructuring—e.g., stock repurchases, paying out a
  • 28. firm’s free cash flows as a dividend - Changing the state of incorporation - Making targeted shareholder repurchases (known as greenmail) ( GOVERNANCE MECHANISMS AND ETHICAL BEHAVIOR Governance mechanisms discussed focus on ensuring that managers work effectively toward meeting their obligation to maximize shareholder wealth. However, shareholders are only one group of the firm’s stakeholders. Over the long term, the demands of other key stakeholders—such as employees, customers, suppliers, and the community—also must be satisfied in order to maximize shareholder wealth. For that reason and others, governance mechanisms must be carefully designed and implemented so that managers’ attention is not focused on maximizing short-term returns and to ensure that they consider the interests of all stakeholders (i.e. they must assume their corporate responsibilities). 5 BUAD 4980 STRATEGIC MANAGEMENT REPORT #3: STRATEGY IMPLEMENTATION GENERAL MOTORS 1. INTRODUCTION Introduce your report. 2. CONCEPTS 2.1. Corporate governance:
  • 29. In one sentence each, define the following: agency relationship, managerial opportunism, and corporate governance problem (also known as agency problem). In three to five sentences, explain why the separation between ownership and management in large companies has the potential to result in corporate governance problem. In one sentence each, define the following governance mechanisms: board of directors, ownership concentration, executive compensation, and market for corporate control. 2.2. Organizational structure: In one sentence, define vertical structure. In one sentence each, give the characteristics of a flat structure. In one sentence, give the characteristics of a tall structure. In one sentence, list the problems of a tall structure. In three to five sentences, explain ONE of those problems. In one sentence, define horizontal structure. In one sentence each, define the following types of horizontal structures: simple structure, functional structure, geographic divisional structure, multidivisional structure (M-form), and matrix structure. In one sentence each, define the following: centralization, formalization, and integration 2.3. Strategic leadership: In one sentence, define strategic leaders. In one sentence, give the title of the top strategic leader. In one sentence, identify (give the names of) the five roles that top managers need to assume if they are to effectively exercise their strategic leadership. In three to five sentences, explain ONE of these roles. 3. ANALYSIS 3.1. Corporate governance: In four to six sentences, discuss whether or not the CEO was serving his/her own interests instead of the interests of the owners (REMINDER: if the CEO is serving his/her own interests instead of owners’ interests, the company is having a corporate governance problem). In one sentence, identify ONE governance mechanism your
  • 30. company uses in an attempt to minimize the corporate governance problem. In four to six sentences, explain your answer. 3.2. Organizational structure: In one sentence, identify the type of your company’s vertical structure. In four to six sentences, explain your answer. In one sentence, identify the type of your company’s horizontal structure. In four to six sentences, explain your answer. 3.3. Strategic leadership: In four to six sentences, discuss whether your company’s CEO was effective in exercising his/her strategic leadership role. 4. EVALUATION 4.1. Problem: In one sentence, state the problem your company is facing (for example: The problem General Motors is facing is slow decision-making). In one sentence, identify ONE factor that has caused the problem (for example: The factor that is causing slow decision-making is the very tall structure that General Motors has). NOTE: The factor that is causing the problem must have been discussed in your analysis (Section 3 above). 4.2. Solution : In one sentence, propose ONE solution your company should use to correct the problem. In four to six sentences, explain how your proposed solution will help to resolve the problem.
  • 31. 5. CONCLUSION Conclude your report. ADDITIONAL INSTRUCTIONS Please write Report #3 based on my TEACHING NOTES. To help you write a good report, please do the following: - First, open this file (Report3.doc) and print it so you have all instructions on a hard copy - Second, keep the cover page (as the one on page 1 of this file, but write your company name and your team members’ names). Also, keeping ONLY headings, sub-headings, delete all directions, and these additional instructions. Then save the file. - Third, write your report using the file you have saved, as it meets the following requirements: it has all headings and sub- headings, it has page numbers, it has no header/footer, its font is Times New Roman size 12, and it is double-spaced. - Fourth, have a transition paragraph right after headings 2, 3 and 4. Also, when appropriate, have a transition sentence or sentences after sub-headings. - Fifth, write your report in paragraph form (no bullets, no listing) with complete sentences. - Six, for long answers (which may be the case when there are several issues to be addressed), have more than one paragraph,
  • 32. each paragraph making a distinctive point. - Last, when your report is done, print 1 (ONE) copy on one side of the paper and staple it. NOTE: Do not provide answers that go beyond what is being asked. Specifically: - If I ask one question, don’t provide answers to five questions. - When answering, pay attention to the number of sentences as indicated. Also, make an effort to avoid long sentences - For long answers (which may be the case when there are several issues to be addressed), have more than one paragraph, each paragraph making a distinctive point. - DO NOT skip a question (if you do, I will deduct 10 points for each question that you skip). 4