Entrepreneurial Spirits

Description: Cleveland-based entrepreneur Tom Lix found a way to produce quality whiskey in a fraction of the normal time. He sees this as one step toward restoring the balance of trade between the United States and foreign competitors.

Source: T. Breckenridge, “Startup Company’s Speedier Process for Making Whiskey Could Life Cleveland’s Spirits,” The Plain Dealer

Date: July 22, 2010

Article Link: http://www.cleveland.com/business/index.ssf/2010/07/startup_companys_speedier_proc.html

Questions for discussion:

1. Conduct a SWOT analysis for Cleveland Whiskey. How does your analysis look? Is Mr. Nix positioned for success?
2. Using Porter’s Five Forces Model, analyze the distilled spirits industry. Is this an attractive industry for Cleveland Whiskey? Why or why not?
3. The article characterizes what Mr. Nix is doing as innovation. What do you think? What type of business innovation might this be?
4. What innovation roles does Mr. Nix fulfill?

 

Basket-brawl

Description: In the latest episode of poor sports(manship), players from the University of Cincinnati and Xavier University prematurely ended their basketball game by fighting.

Source: A. Katz, “Cincinnati, Xavier Reveal Suspensions,” ESPN

Date: December 11, 2011

Article Link: http://espn.go.com/mens-college-basketball/story/_/id/7341744/cincinnati-bearcats-suspend-four-players-brawl-xavier-musketeers (see also http://content.usatoday.com/communities/campusrivalry/post/2011/12/cincinnati-suspends-3-for-6-games-for-brawl-vs-xavier/1)

Questions for discussion:

1. Reports suggest that tensions started when players from both teams began using Twitter to “call out” the other team. What communication barriers came into play?
2. What type of conflict is represented by this rivalry? The fight?
3. Review both the actions taken and potential future remedies. What structural approaches have been/will be implemented?
4. Was the discipline that followed the game fair, consistent, and systematic? Was it progressive? Was it consistent with the “hot stove rules?” Explain. What do you think about Cincinnati Coach Mick Cronin’s additional measures?

In Search of the $300 House

Description: Dartmouth Professor Vijay Govindarajan has a vision of creating affordable housing for the world’s poor. He just does not know how to do it. Hear him discuss a competition designed to inspire creative thinking.

Source: WSJ.com

Date: December 5, 2011

Related Link: http://www.300house.com/

Questions for discussion:

1. Think about the problem of world-wide poverty and housing for the poor. Why is creativity needed to solve this problem?
2. The idea advanced by Professor Govindarajan is clearly social innovation. Should business be involved? Why or why not?
3. Review the stages listed on the $300 House web page. Is this a good approach? How do these stages compare to the innovation process in your text?

 

Fast Food, Fast Delivery

Description: In Asian countries and some parts of the Middle East, fast food giants McDonald’s and Yum Brands see rising sales from delivery, not restaurant dining.

Source: J. Jargon, “Asia Delivers for McDonald’s,” Wall Street Journal

Date: December 13, 2011

Article Link: http://online.wsj.com/article/SB10001424052970204397704577074982151549316.html

Questions for discussion:

1. Discuss what global management means for companies like McDonald’s and Kentucky Fried Chicken. Be sure to consider how (and why) these companies are adapting their traditional western business model.
2. Is cultural intelligence important in developing these new business models? Why or why not?
3. What level of strategy does delivery represent for Yum Brands? Can you argue for more than one level?
4. What operating objectives would you associate with this growth strategy?

 

Boo Hoo, They Are Leaving Yahoo

Description: With no permanent replacement since the firing of CEO Carol Bartz, many at Yahoo are questioning the direction of the company. Internally, employees see reasons to stay, but worry that the lack of leadership signals the company is not in a position to compete with rivals.

 

 

Source: A. Efrati, “Yahoo Battles Brain Drain,” Wall Street Journal

Date: December 5, 2011

Article Link: http://online.wsj.com/article/SB10001424052970204083204577078403954893904.html

Questions for discussion:

1. Review the various ways for compensating employees beyond base pay and compare these with the benefits mentioned in the article. How is Yahoo doing? Is this enough to keep employees motivated and productive? Why or why not?
2. Check out the definition for leadership then discuss why the lack of a permanent replacement for former CEO Carol Bartz is causing problems at Yahoo.
3. You can have loads of talent (as Yahoo does), but vision is necessary to get that talent moving in the right direction. Comment. How is the leadership situation at Yahoo affecting this?

 

The Little Dictator

Description: North Korean dictator Kim Jong Il’s death leaves questions about the future of the country and the state of affairs in the Far East.

Source: Anonymous, “North Korea’s Kim Jong Il Dies at 69,” USA Today

Date: December 19, 2011

Article Link: http://www.usatoday.com/news/world/story/2011-12-18/north-korea-leader-dies/52058036/1

Questions for discussion:

1. The video shows various scenes from Kim Jong Il’s nearly two decades in power. What are your general perceptions of his leadership? Was he an effective leader?
2. From what bases of power did Kim operate?
3. How would you characterize Kim’s leadership style?

 

You’re in the Army Now — The Entrepreneurial Army

Description: Tech Stars provides a crash course in how to start and grow a business idea. These business accelerators are seen as an alternative to traditional college education for budding entrepreneurs.

Source: A. Jordan, “Boot Camp or Bust? A Young Entrepreneur Tries to Make His Mark,” Wall Street Journal

Date: December 8, 2011

Article Link: http://blogs.wsj.com/venturecapital/2011/12/08/boot-camp-or-bust-a-young-entrepreneur-tries-to-make-his-mark/

Questions for discussion:

1. Research suggests that there is a well-defined set of characteristics associated with entrepreneurial leanings. Review this list, as well as the early life experiences typical of entrepreneurs and then discuss whether formal education is critical for someone like Dan Herman.
2. It has been said that “necessity is the mother of invention.” Your text suggests that necessity drives entrepreneurial activity, particularly for individuals that may have been limited in traditional business settings. What “necessities” might drive a 20 year-old to become an entrepreneur?
3. Review the common reasons small businesses fail. What does this suggest about the need for small business accelerators like Tech Stars? What kinds of information/training are essential for accelerators to provide new entrepreneurs to ensure a better chance of success?
4. Is an unproven company like iChat more likely to attract venture capitalists or angel investors? Why? How might making it through several stages of the small business accelerator increase Dan Herman’s chances for attracting investors?

 

 

Corn-y Forecasts

Description: Forecasts for corn harvests and stockpiles by the U.S. Department of Agriculture have been increasingly inaccurate over the past two years. This makes it difficult to predict prices and determine whether and how much to plant.

Source: L. Pleven & T. McGinty, “Faulty Forecasts Roil Corn Market,” Wall Street Journal

Date: December 5, 2011

Article Link: http://online.wsj.com/article/SB10001424052970203752604576641561657796544.html

Questions for discussion:

1. Describe the U.S. Department of Agriculture’s job in terms of data and information. Based on what you learn from the article/video, assess how the USDA is doing in terms of the five criteria of useful information.
2. Discuss the importance of reliable information from the standpoint of farmers (both corn producers and corn consumers), ethanol companies, and foreign governments (corn buyers). Note: It may be helpful to think about individuals associated with these entities as information processors and problem solvers.
3. What type of managerial decision does Mike Yost (a consumer of corn) face? Identify the decision environment he faces.
4. Examine the planning process. Now imagine yourself in one of the following roles: feed buyer for a dairy farm, purchasing agent for an ethanol manufacturing plant, commodities buyer for an international government. Which steps of the planning process are most affected by inaccurate USDA forecasts?
5. What type(s) of tools/techniques could you use to reduce your business’ risk in the above situation?

 

The Technology Tether

Description: Video interviews with a variety of Minnesota residents reveals general advantages and disadvantages of today’s technologies.

Source: J. Graham, “Most Say Technology Has Improved Our Lives,” USA Today

Date: December 2, 2011

Article Link: http://www.usatoday.com/tech/columnist/talkingyourtech/story/2011-12-01/how-has-technology-improved-lives/51582432/1

Questions for discussion:

1. Look at the definition for technology. Discuss the ways technology changes over time and how these changes moved our economy from predominantly manufacturing-based to service-based. Does technology produce the change or is it a result of the change?
2. Now review the definition for productivity. Has technology improved our productivity? If yes, in what ways (remember the definition)? If no, why not?
3. Without doubt, access to relatively low-cost digital technologies has its advantages, but what about competitive advantages? Identify ways that technology produces competitive advantages for companies. Try to think about successful companies that are capitalizing on the unique benefits of today’s technology (as users not as providers). It might help to review the definition for value creation before responding.

 

To Tweet or Not to Tweet?

Description: The drawbacks of digital technology are discussed. Digital natives seem to have different ideas about what is and is not appropriate in today’s workplace than do digital immigrants.

Source: Wall Street Journal Online

Date: December 2, 2011

Questions for discussion:

1. Discuss the implications for communication effectiveness and efficiency between today’s popular media (e.g., texting, Twitter), slightly older media (e.g., e-mail), and the ever-present face-to-face meeting.
2. What type of communication barriers are created by digital technology?
3. How does the use of digital technology in meetings affect (the perception of) active listening? Why would this matter?
4. Review the graphic on channel richness. Why is Anna Post correct when she says definitely fire someone in person and not by e-mail? What forms of organizational communication would be appropriate for digital technologies?