BMA5108 - Technopreneurship

Course Outline

Aims and Objectives

Creating a new business is a challenging and complex task. The road to entrepreneurial

success is long, winding and strewn with pitfalls, obstacles and blind turns. The risks of

starting a new business are high, as illustrated by the high failure rates for new ventures.

However, as is always the case, the rewards are commensurate with the risk: in addition

to the psychic rewards of starting a business, witness the dominance of entrepreneurs in

the Forbes 400 list.

The purpose of this course is to:

Help students understand the process, challenges, risks and rewards of starting up

a new business

Equip them with the tools required to start their own business

Improve their chances of successfully starting their own business

Learning objectives are:

Ability to create and assess business ideas

Develop creative problem-solving skills required in entrepreneurial businesses

Ability to create a business plan, including:

Ability to analyze market opportunities

Develop a business model and strategy

Form and work successfully in a team

Make a professional presentation

Modes

Classes will consist of both lectures and interactive workshops, both of which are

compulsory. The lectures and workshops will facilitate the construction of the business

plan. Relevant topics will be covered as the plans are developed and workshops will be

used at plan milestones. Both lectures and workshops will include discussions with active

participation. Experiential in-class exercises will also be included.

Students are expected to:

Make several in-class presentations. Participate actively in class, Engage in problem solving and group discussions. Read and solve problems as part of preparation for class. Meet with their project teams outside of class

Work in a team to prepare a written business plan and investor presentation

Schedule

Session Date Topic

1

20-Jun (Mon) Course overview: Why entrepreneurship and introduction to business plans

Generating, evaluating and presenting scalable business ideas

2 22-Jun (Wed) Innovation and Value proposition

3 27-Jun (Mon) Idea presentations

4 29-Jun (Wed) Idea selection

5 04-Jul (Mon) Innovation and Value Proposition Team Presentation

6 06-Jul (Wed) Competitive strategy

7 11-Jul (Mon) Financial

8 13-Jul (Wed) Competitive Strategy Team Presentation

9 18-Jul (Mon) Winning Negotiations

10 20-Jul (Wed) Fundraising and Deal Terms

11 25-Jul (Mon) Building, Managing and Motivating Teams

12 27-Jul (Wed) Presentation workshops

13 30-Jul (Sat) Final Business Plan Presentations

Synopsis

Students will learn the process of new venture creation through actually working through

the process themselves. Participants will:

Develop an idea for a new business

Create a professional-level business plan and investor presentation

Present the business plan to a panel of investors/judges

Each business plan should include:

Value proposition and innovation

Market identification and analysis

Marketing and sales strategy

Sustainable competitive advantage

Company products and services

Team

Expansion plan

Operational plan

Financials

By the end of the course, each student team should have produced a business plan that

could be presented to an angel investor or a venture capitalist.

Syllabus

Session Topic Milestone Class Exercises Class Presentation

1

Course overview: Why entrepreneurship and introduction to business plans

Register at innovative engine

Generating, evaluating and presenting scalable business ideas

2 Innovation and value proposition Idea submission

3 Idea presentations Ideas

4 Idea selection Idea approved and teams formed

Idea selection and team formation

5

Innovation and value proposition

presentations

1st draft BP (ES)

due

Innovation and value

proposition

6 Competitive strategy 1st draft feedback received

7 Financials

8 Competitive strategy presentations Competitive strategy

9 Winning negotiations 2nd draft BP due

Negotiation experiential exercise

10 Fundraising and deal terms

2nd draft feedback received Financial plan draft due

11 Building, managing and motivating teams

Financial plan feedback received

Team building experiential exercise

12 Presentation workshop Final BP due Presentation exercise

Complete run through

13 Final Business Plan Presentations Final BP Presentation Slides

Assessment

The course will have no final written exam and will be 100% based on the following continuing

assessment components:

Participation (25%)

Participation marks will depend on in-class participation as well as the individual’s contribution

to the final business plan. All team members will be required to write peer reviews.

Business Plan (50%)

Plans will be evaluated on the quality of the idea, and the thoroughness and professionalism of

the plan. A successful plan will be one that could be submitted to a VC and would be seriously

considered for funding.

Teams are required to submit 2 drafts before the final business plan. The drafts will not be graded

but any late submission will count towards penalty points in the final business plan.

Business plans are restricted to a maximum of 25 pages.

Presentation (25%)

Presentations will be evaluated on their persuasiveness and professionalism. A successful

presentation will be one that resulted in the examiners wanting to schedule a follow up meeting to

discuss the plan.

Participation marks will be by individual. Presentation and Business Plan marks will be by

group. In cases where individuals did not contribute proportionately to the business plan or

presentation, their marks may be adjusted accordingly.

Students are required to be prepared to be called on randomly in class to respond to questions, to

make presentations, etc.

Important Milestones & Deadlines

ALL DEADLINES BY 2359HR OF DATE.

Eg. 25th June Saturday night, 11.59pm.

Session Milestone Deadline

2 Idea slide submission 25-Jun (Sat)

3 Idea voting 28-Jun (Tues)

4 Idea approval and team formation 29-Jul (Wed)

5 1st draft business plan due (executive summary only) 08-Jul (Wed)

9 2nd draft business plan due 18-Jul (Mon)

10 Financial plan draft due 20-Jul (Wed)

12 Mock final presentation 27-Jul (Wed)

12 Final business plan due 28-Jul (Thurs)

13 Final business plan presentations 30-Jul (Sat)

13 Peer review 30-Jul (Sat)

Text & Readings

Textbook, Cases and Other Reading Materials

The textbooks for the course are Scott Shane’s Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures (2005) and Kuratko and Hodgetts’ Entrepreneurship: Theory, Process, Practice (6th Ed). The following books on a range of topics which will be useful to an entrepreneur, while not required, are highly recommended.

Title Subtitle Author_Last Author_First Comments

The Elements Of Style William Strunk, Jr. and E.B. White Strunk, White William, E.B. Classic work on writing style and usage

Inumeracy Mathematical Illiteracy and its Consequences

Paulos John Allen

A Random Walk Down Wall Street Malkiel Burton G. Classic on financial markets valuation techniques

Envisioning Information Tufte Edward Classic on graphic design

Visual Explanations Images and Quantities, Evidence and Narrative

Tufte Edward Classic on graphic design

The Visual Display Of Quantitative Information

Tufte Edward Classic on graphic design

The Age Of Spiritual Machines When Computers Exceed Human Intelligence

Kurzweil Ray Interesting discussion of machine intelligence by a successful entreprenuer

The New New Thing A Silicon Valley Story Lewis Michael Story of Jim Clark, successful entrepreneur who started SGI and Netscape

The Emperor's New Mind concerning computers, minds and the laws of physics

Penrose Roger

Competitive Strategy Techniques for Analyzing Industries and Companies

Porter Michael E. Classic marketing text

Market Driven Strategy Day George S. Good overview of marketing strategy

Eboys The First Inside Account of Venture Capitalists at Work

Stross Randall E.

Prisoner's Dilemma Poundstone William

Mathematics For The Nonmathemetician Kline Morris

Finding Fertile Ground Identifying Extraordinary Opportunities for New Ventures

Shane Dr. Scott A. How to create scalable businesses. Approach very similar to ours.

Bookmaking The illustrated guide to design/production/editing

Lee Marshall Classic work on print layout and design

The Structure Of Scientific Revolutions Kuhn Thomas S.

Getting To Yes Negotiating Agreement Without Giving In

Fisher Roger

Crossing The Chasm Marketing and Selling High-Tech Products to Mainstream Customers

Moore Geoffrey A.

Venture Capital The Definitive Guide for Entrepreneurs, Investors and Practitioners

Cardis Joel

Why Smart People Make Big Money Mistakes and How to Correct Them

Lessons from the New Science of Behavioral Economics

Belsky Gary

Against the Gods The Remarkable Story of Risk Bernstein Peter L.

The Tipping Point How little things can make a big difference

Gladwell Malcolm

When Genius Failed The Rise and Fall of Long-Term Capital Management

Lowenstein Roger Inside look at the rise and fall of the most famous hedge fund

Numerical Techniques in Finance Benninga Simon Good treatment of spreadsheet modeling

A Mathematician Plays the Stock Market Paulos John Allen Excellent analysis of irrationality in investor behavior

Stocks For The Long Run A Guide to Selecting Markets for Long-Term Growth

Siegel Jeremy J.

Fooled by Randomness The Hidden Role of Chance in Life and in the Markets

Taleb Nassim Nicholas

Challenges basis of finance and investment theory

Burn Rate How I Survived the Gold Rush Years on the Internet

Wolff Michael True but hilarious account of dot-com start-up

Monkey Business Swinging Through the Wall Street Jungle

Rolfe, Troob John, Peter True but hilarious account of working in an investment bank

The following supplementary readings on entrepreneurship, while not required, are highly recommended:

Practical Entrepreneurship Guides 1. Bagley,C. and C.Dauchy(1998), The Entrepreneur's Guide to Business Law, West 2. Berndt,S.(1997), The 10 Commandments for Building a Growth Company (3rd Ed.), Archipelago Press 3. Kawasaki, G. (1999), Rules for Revolutionaries, Harper Business 4. Lang, J.(2002), The High Tech Entrepreneur's Handbook, Ft.com 5. Weintraut,J.N. and C.Barr(2002), Lightspeed Business, Wiley 6. Nesheim, John L., High Tech Start Up: The Complete Handbook for Creating Successful New High Tech Companies, The Free Press

More Scholarly Work on the Entrepreneurship Process 1. Bhide,A.(2000), The Origins and Evolution of New Businesses, Oxford University Press

2. Lee,C.M. et.al (2000), The Silicon Valley Edge, Stanford Business Press 3. Roberts,E.B.(1994), High Technology Entrepreneurship, Oxford University Press 4. Stevenson,H.H. et.al. (1999), New Business Ventures and the Entrepreneur, (5th ed.), McGraw-Hill 5. Geoffrey Moore, Crossing the Chasm 6. Paulos, John Allen (2003), A Mathematician Plays the Stock Market, Basic Books

Journalistic Accounts of High Tech Start Ups and Silicon Valley

1. Kaplan,J.(1994), Start Up: A Silicon Valley Venture, Houghton Mifflin 2. Branson,P.(1999), The Nudist on the Late Night Shift and other Tales of Silicon Valley, Broadway Books 3. Kaplan,D.(1999), The Silicon Boys and their Valley of Dreams, Perennial 4. Komisar(2000), The Monk and the Riddle: Education of a Silicon Valley Entrepreneur, Harvard Business School Press 5. Kuo,D. (2002), dot.bomb: My days and nights at an Internet Goliath, Little Brown 6. David Sheff (2002), China Dawn: The Story of a Technology and Business Revolution, HarperBusin

1

NATIONAL UNIVERSITY OF SINGAPORE BUSINESS SCHOOL

Proposed Course outline as of June 17, 2016

Module Code BMA 5118A

Module Title Sustainability Strategy – the Triple Bottom Line and Anti Corruption

Term Aug 8 – Nov 11, 2016

Modular Credits 4

Department Strategy & Policy

Teaching Staff Sabina Sudan Sabzsudan@eclsconsults.com

Location BIZ1/3-1 (Seminar Room 3-1, Mochtar Riady Building)

First Session Monday, 8 Aug 2016 (6-9pm)

Last Session Monday, 7 Nov 2016 (6-9pm)

LEARNING OBJECTIVES This course will give you a broad introduction to business sustainability and help you to identify what contribution you can make as an individual and as a manager. In addition to environmental impact, Business Sustainability is now seen through the lens of Social (Labor and Human Rights), Anti-Corruption and Corporate Social Responsibility practices. These components are recognized as fundamental to business strategy and execution. C-Suites, Boards of Directors, your organization/teams look to you as an individual and as a leader in doing it right, every time, in all your interactions with internal and external stakeholders. Ethical decision making, anti corruption frameworks and effective compliance programs are no longer good to have. They are must haves. Every day, we see organization implicated in scandals involving corrupt practices, fraud, labour and human rights abuses, and environmental degradation. This course seeks to provide a platform for sustainability oriented professionals to understand and implement a business strategy towards achieving a triple bottom line – through Environment, Social and Governance (“ESG”) actions. You will understand what you can do to drive and embed sustainability within your organization – established corporations, start-up ventures, consulting firms, for profit, not for profit, SMEs etc. You can take the knowledge and skills that will be shared during this course and use it as a platform for ethical decision making and risk management. The learning objectives of the course are as follows:

How to approach sustainability from a corporate strategy perspective

Understand the current drivers of environment, social, anti corruption and corporate social responsibility (CSR) actions in defining a sustainability strategy

Identify the key challenges leaders face in navigating their business in accordance with the challenges in the external environment

Review the seven elements of an effective Compliance Program

Analyze personal and organizational checks and balances to meet the requirements of “adequate procedures”

2

Discuss and debate case studies to help you learn how you can embed ethical conduct and prevent unethical activities

Review reading material to help expand your knowledge on the topics we will focus on.

There is growing realization that we collectively face some significant sustainability challenges that need to be addressed with urgency. THE SUSTAINABILITY WAKE UP CALL As a brief introduction to this area, consider just the following to get a sense of the magnitude and urgency of these challenges: Population: The world population has grown tremendously to a current level of over 7 billion people. This compares to a world population of 1 billion in 1800 and 3 billion in 1960. By 2050, the world is expected to have 9.0-9.5 billion people. This tremendous increase in population creates competition for resources and generates multiple issues on multiple levels that you will confront in your career. THE ANTI CORRUPTION WAKE UP CALL The US regulators continue to drive the global anti corruption initiative. The US Department of Justice enforcement efforts to prosecute under the US Foreign Corrupt Practices Act, 1977, result in both reputational harm and large financial penalties. The OECD’s Anti Corruption Policy, the UK Bribery Act, 2010, national anti corruption laws all add to government efforts to cull the corruption malaise. The Yates Memo (Sept 9, 2015, Sally Yates, Dep. Attorney General, US DOJ) has reinforced the intention to prosecute individuals accountable for fraud as a deterrent to others. 2015 US FCPA highlights - 12 corporate enforcement actions with total sanctions of US$143.1 million resulted in total average corporate penalties of US$11.9 million. Q1 2016 has seen eight corporate FCPA enforcement actions. These companies have paid a

total of US $497.6 million to resolve the investigations. Q1 2016 also saw three individual

resolutions.

ASSESSMENT COMPONENTS

Component Grading Weight

Class Participation (Individual) 30%

MCQ Quiz x 2 (Individual) midterm and end term 40% (20% + 20%)

Strategy Project (Group + Individual) Presentation and report

30% (20% group on report and 10% on individual presentations)

Total 100%

1) Class participation (Individual, 30% of grade) Classroom participation is an important part of the course worth 30% of the overall grade. If you sign-up for this course, please come prepared for interactive classroom discussions around course topics, case studies and in-class videos. If you are from an educational background that

3

had less emphasis on classroom participation, this will be a great opportunity to prove what you know and prepare you for leadership roles. The below offers some guidance for how to get a good participation grade:

Your grade is a function of attendance and quality. Hence, class attendance is mandatory for students' success in this class and an individual’s absence will affect their final grade, whether excused or not.

Be mentally present. Come to class on-time and come prepared.

Be a good listener and build on other students’ ideas.

Add insights, explore the pros and cons of different alternatives and then recommend a path of action.

I expect you to question and challenge - all with positive intent.

Please bring your name cards to each session to ensure you get fair participation grades.

2) Two Quizzes – Mid Term and End of Term (Individual, 20 each; total 40% of grade) There will be a midterm quiz and an end of term quiz. The midterm quizzes will be held at [time] on [day/date]. The quizzes will be multiple-choice questions based on the assigned reading material, in class discussions, videos and the slides shown in class. I will construct the quiz so that it is likely that you can earn a B grade (B-/B/B+) by having a good command of the slide material, the videos shown in class and class discussions. However, it will likely be challenging to earn an A grade (A-/A/A+) on the quizzes and the project if you do not have a grasp of the assigned reading material.. 3) Strategy Project (Group, 30% of grade) As a major part of completing the course, participants will be divided into [x] groups to complete a strategy project that you will present in class starting Week 4. Each group will have 20 minutes to present (each individual must present), followed by a 10 minute Q&A session led by another student group. The group project will require you take a perspective on sustainability across anti corruption, economic, social (labor and human rights) and environmental areas. You will identify specific pain points that your action plan will address. Group Formation By the third class, you are required to form [x] groups for the strategy project. My guidelines to you are to identify your group members to ensure diversity (where possible) – select members from different countries / nationalities / age groups / gender / religion etc. A business school is a ‘safe environment’ in which to practice cross-cultural interaction compared with the business world where both organizational performance and individual career success is at stake. Hence, I

4

would encourage you to work in as heterogeneous groups as possible to take full advantage of practicing working with colleagues from different backgrounds. You will benefit from the different viewpoints that are debated in completing your project. This also increases your ability to build a geographically diverse network which will be advantageous throughout your careers. Once you are assigned a topic, please upload the slides on IVLE on (or before) the day of your presentation with the following details on one or two cover slide(s):

Group members and roles

Project organization and industry

Brief project description and scope

Specification of what type of decision can be made based on your analysis

Your relationship (if any) to the project company or product

A statement of originality meaning that the group members have not worked on a similar project before and that the project will be based on the team members’ own analysis (i.e. not summarize a report already produced by someone else).

The deliverables for the strategy project are a max 20-slide PowerPoint presentation not including the cover slide(s). Please send me a soft copy of the slides at sabzsudan@eclsconsults.com a day before your group is scheduled to present and give me a hard copy in class on the day of the presentation. The PowerPoint presentation should be sufficiently detailed to stand on its own as a project report (i.e. consultancy format). Each group will be required to make a 20 minute presentation of their project during the final class and also to act as the fictive board on another date for group during a 10 minute Q&A session. One week after the class presentation, please submit a three page ‘board paper’ summarizing your recommendations incorporating the in class Q&A. The board paper should be uploaded on IVLE. Please also email me a copy a sabzsudan@eclsconsults.com. The board papers should be single-spaced and written in a 12 point font with reasonable margins. In addition to the three page limit, you are allowed a one page appendix. Your ‘board paper’ should be sufficiently focused to allow the fictive board of your “organization” to make a decision based on your recommendations. PERSONAL PROFILE I ask each one of you to please upload a one page personal profile in the designated folder in IVLE copy to sabzsudan@ecls.com no later than [date] and ideally before the first class. Please focus your one-pager around the following three questions: 1) Your background (e.g. country, international experience, industry experience, functional experience, other relevant experience); 2) Your career aspirations (e.g. industry, function, countries); 3) Your interest in this course (e.g. why did you decide to take this course? Please include your name, a recent photograph and an e-mail address at the top of the page.

5

These profiles provide me with an opportunity to learn if some course participants have

experience or aspirations of particular relevance in relation to some of the case discussions. It

also allows you to learn more about each other for networking purposes.

CLASSROOM CLICKERS The course will make use of an anonymous classroom response system to gather immediate feedback during the sessions: http://www.cit.nus.edu.sg/classroom-response-system/ To this end, each student will be issued a personal response token during the first class. READING MATERIAL

Session Topics - Reading In Class (not to be shared with students before hand)

Sustainability and Business ethics

Week 1 Michael Porter - Creating Shared Value (HBR Bestseller), R1101C-PDF-ENG https://cb.hbsp.harvard.edu/cbmp/pl/50474653/50474682/8d43cbd553f85528d3db8129c2b04160

Chouinard, Y., Ellison, J. & Ridgeway, R. The Sustainable Economy. Harvard Business Review, 89(10): 52-62. https://hbr.org/2011/10/the-sustainable-economy

https://www.youtube.com/watch?gl=SG&hl=en-GB&v=2lXh2n0aPyw - Piano stairs - TheFunTheory.com - Rolighetsteorin.se Video: Ray Anderson: The Business Logic of Sustainability (watch in class) - https://www.youtube.com/watch?hl=en-GB&v=iP9QF_lBOyA&gl=SG Discussion - Developed World and Developing World perspectives Risk - What Have the Past 30 Years Taught Us About Managing Risk? -http://knowledge.wharton.upenn.edu/article/past-30-years-taught-us-managing-risk/ – 35 minutes Group discussion.

Business Ethics and Reasoning

Weeks 2 - 3

A Framework for Making Ethical Decisions https://www.brown.edu/academics/science-and-technology-studies/framework-making-ethical-decisions What is Business Ethics? https://www.scu.edu/ethics/focus-areas/business-ethics/resources/what-is-business-ethics/

http://www.justiceharvard.org/2011/03/episode-01/#watch – Episode 01 - Part 1 – The Moral Side of Murder - first 13 minutes only.

Case Study

6

Reading – NUS library resource article on Business Ethics VW Scandal Paul Argenti, The biggest culprit in VW’s emissions scandals, Fortune 13 October 2015 http://fortune.com/2015/10/13/biggest-culprit-in-volkswagen-emissions-scandal/

British Petroleum 2005 - http://iveybusinessjournal.com/publication/bp-and-public-issues-mismanagement/ Group discussion.

Week 4 Corporate Social Responsibility

Definitions

CSR / Charity / Philanthropy

Responsibility vs Profit Maximization

The UN Global Compact (ESG – Environment/Social (Labor and Human Rights)/Governance (anti corruption)) - https://www.unglobalcompact.org/what-is-gc/mission/principles ISO 26000:2010 Guidance on Social Responsibility http://www.iso.org/iso/discovering_iso_26000.pdf

NUS library articles on CSR

Case Study - TBD

Week 5 Corporate Social Responsibility/Sustainability: Asian Focus

Perception and practices in selected countries Jessica Cheam, The Evolution of CSR in Singapore, The Strait Times, 1 September 2015 http://www.straitstimes.com/opinion/the-evolution-of-csr-in-singapore

India Companies Act, 2013 and Corporate Social Responsibility: http://finance.bih.nic.in/Documents/CSR-Policy.pdf

Case Study - TBD

7

China and Corporate Social Responsibility Mar 17, 2015

https://www.weforum.org/agenda/2015/03/is-corporate-social-responsibility-chinas-secret-weapon/

Weeks 6-7

Bribery and Corruption

Dirty Linen in Squeaky Clean City, Opinion, The Strait Times, 25 August, 2012 US Foreign Corrupt Practices Act, 1977 http://www.sec.gov/spotlight/fcpa/fcpa-resource-guide.pdf Read the following: Chapter 1 What Does “Anything of Value” Mean? Page 14 Cash Page 15 Gifts, Travel, Entertainment, and Other Things of Value Page 15 Charitable Contributions Page 16 How Are Payments to Third Parties Treated? 21 Who Is a Foreign Official? Page 19 Department, Agency, or Instrumentality of a Foreign Government Page 20 Public International Organizations Page 21 What Are Facilitating or Expediting Payments? Page 25 Does the FCPA Apply to Cases of Extortion or Duress? Page 27 Individual Accountability for Corporate Wrongdoing - The Yates Memo (Sept 9, 2015, Sally Yates, Dep. Attorney General, US DOJ) - https://www.justice.gov/dag/file/769036/download The United Kingdom’s Bribery Act, 2010 The United Nations Global Compact

Chiquita Bananas (parts of the 60 minutes video) https://www.youtube.com/watch?v=_jxJzbrcoG4 Morgan Stanley, China Whistle Blowing Siemens Olympus Other cases

8

Whistle Blowing http://www.economist.com/news/business/21679455-life-getting-better-those-who-expose-wrongdoing-companies-continue-fight

Weeks 8-9

Labour and Human Rights

http://www.un.org/en/universal-declaration-human-rights/

ILO Declaration on Fundamental Principles and Rights at Work

http://www.ilo.org/declaration/lang--en/index.htm Ruggie Framework – UN Guiding Principles on Business and Human Rights http://www.reports-and-materials.org/sites/default/files/reports-and-materials/Ruggie-protect-respect-remedy-framework.pdf [brief explanation]

Revealed: Asian slave labour producing prawns for supermarkets in US, UK | Global development | The Guardian - http://www.theguardian.com/global-development/2014/jun/10/supermarket-prawns-thailand-produced-slave-labour Case Studies 7 – Eleven (Australia) Walmart Nike

Week 10 Environment

Brown, L. (2011). On the edge. In World on the Edge: How to Prevent Environmental and Economic Collapse. Pages 3-18, from http://www.earth-policy.org/images/uploads/book_files/wotebook.pdf Brown, L., Larsen, J., Dorn, J.G. & Moore, F.C. (2008). Time for Plan B, from http://www.earth-policy.org/datacenter/pdf/80by2020notes.pdf Paris Climate Change Agreement, 2015 - http://www.npr.org/sections/thetwo-way/2015/12/12/459464621/final-draft-of-world-climate-agreement-goes-to-a-vote-in-paris-saturday

Paris Climate Change Conference 2015 - Highlights of the United Nations meeting in Paris from Nov. 30 to Dec.

Discussion Back Casting Case study - TBD

9

11, and efforts to reach an emissions deal.

http://www.nytimes.com/interactive/2015/12/12/world/paris-climate-change-deal-explainer.html?rref=collection%2Fnewseventcollection%2Fun-climate-change-conference&action=click&contentCollection=earth&region=rank&module=package&version=highlights&contentPlacement=1&pgtype=collection&_r=0

Week 11 Corporate Governance & Sustainability

Enron scandal, see Sridharan&ors, The social impact of business failure: Enron, available at http://www.bsu.edu/mcobwin/majb/uploads/pdf/vol17num2/sridharan.pdf Enron Ten Years Later: Lessons to Remember. (cover story). By: Catanach Jr., Anthony H.; Ketz, J. Edward. CPA Journal. May 2012, Vol. 82 Issue 5, p16-23. 7p, Database: Business Source Premier

Role of Institutional Investors https://www.unpri.org/about

Case Study - TBD

Week 12 Sustainability Reporting

Singapore Sustainability Reporting

http://investorrelations.sgx.com/sustainability-report.cfm http://corporate-citizenship.com/2016/01/21/singapore-takes-sustainability-reporting-by-the-horns/ ‘It's the law: Big EU companies must report on sustainability’ Greenbiz 17 April 2014 http://www.greenbiz.com/blog/2014/04/17/eu-law-big-companies-report-

Case Study - TBD

10

sustainability Global Reporting Initiative https://www.globalreporting.org/information/sustainability-reporting/Pages/default.aspx

Week 13 Risk Management and Risk Mapping

Managing Risks

https://hbr.org/2012/06/managing-risks-a-new-framework Sustainability – Beyond Enterprise Risk Management http://www.aon.com/about-aon/intellectual-capital/attachments/risk-services/sustainability_beyond_enterprise_risk_management.pdf

In Class Risk Mapping exercise

This course requires some reading but given that sustainability / anti corruption / governance / environment / labor & human rights are very topical, you will find the reading interesting and necessary for you to be able to adopt the learnings not only in your business career but in every day decision making. Most of the articles are quite short and they do not contain especially challenging material. The objective of the sustainability strategy material is to introduce you to sustainability from a corporate perspective. This material provides examples of how corporations have approached sustainability and equips you with various frameworks for your strategy project as well as working life. The reading is spread out over the sessions but is interconnected and like a jig saw puzzle, and each week’s readings will form parts of a whole. Each group will select a suitable project topic based on that weeks reading and have a frame of

reference for subsequent case discussions as well as the group project.

11

Academic Honesty and Plagiarism Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity & honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources.

Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor. Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct

BMA5126 Strategy and Big Data

Lecturer: Anuprita Bhomick

Office: Tel: 84281205

e-mail: bizab@nus.edu.sg

Term: Semester I

Course objectives: The application of computing power to the collection and analysis of detailed information relating to a wide variety of processes and issues – summarized as big data – has the potential to change how business problems are evaluated and solved. In turn this has the potential to change how organizations operate and succeed. This module introduces students to big data constructs and uses in strategy and decision making. It will focus on the implications of sustainable competitive advantage, capabilities development, and how these influence the content and implementation of strategy. We will take 3 different perspectives: 1. Why Big Data is important in general for Strategy and decision making 2. How big data can be used in specific industries 3. What are the challenges and pitfalls of using big data

This course prepares you for understanding the potential that big data unlocks in changing the way we structure, plan and make decisions using your questions, curiosity, case studies of spectacular success stories and hard lessons learnt. The class discussions will address unique complexities, challenges and opportunities in harnessing the power of big data and help students to articulate impact on decision making and implications for management strategy and business operations.

Course materials

We will use a set of readings, HBR articles and case studies. Case studies are

Group work includes a detailed exploration of one company’s Journey Mapping, studying available data constructs, capturing requirements and finally building out a proposal on how they can harness the power of big data. Each team member must participate in the presentation on the final day as this contributes to your grade.

Weightage of assessment 4 cases 40% Two class tests 20% Group Project 30% Participation in class, panel discussion, online forum 10%

General standards and evaluation process: 1. Class Participation is extremely important as you can both add value as well as benefit from your collective experiences. Listening and imbibing other points of view are also important in the learning process 2. Cases are a great tool to enable learning. The logic, reasoning, thought process and analysis that you provide for your recommendations is more important than arriving at the right answer. 3. Guest lecturers and panel discussions with industry experts are an added bonus. These are industry experts who have grappled with Big Data’s potential and challenges. Enhance your learning by asking as many questions as you can

List of Readings

• Books – Big Data @ Work – Thomas Davenport

• Articles – Asking "What Else?" to Identify Unintended Negative

Consequences • Kathleen Wilburn; Ralph Wilburn

– Don't Let Big Data Bury Your Brand • Peter Horst; Robert S. Duboff

– The New Science of Customer Emotions • Scott Magids; Alan Zorfas; Daniel Leemon

– Boosting Demand in the "Experience Economy" • Harvard Business Review

– Managing Your Mission-Critical Knowledge • Martin Ihrig; Ian MacMillan

– Digital Ubiquity: How Connections, Sensors, and Data Are Revolutionizing Business

• Marco Iansiti; Karim R. Lakhani

• Cases will be distributed on IVLE

Course Outline = 13 lectures, 3 hours each

12 Aug 2016 1. Introduction to Big Data Potential, Pitfalls & Strategy Thinking

19 Aug 2016 1. Using Data as a Strategic Asset 2. Case 1 - Volkswagen Group: Driving Big Business With Big Data

26 Aug 2016 1. Uncovering Sustainable Competitive Advantage using Data and Analytics

2. Guest Speaker 1

2 Sep 2016 1. Common Business Problems and Changing how we think about Solutions 2. Case 2 – Luminar:Leveraging Big Data Using Corporate Entrepreneurship

9 Sep 2016 1. Customer Business Processes and Value Add for Specific Industries –

Banking and Finance 2. Guest Speaker 2

16 Sep 2016 1. First Assessment 2. Industry Focus – Marketing and Revenue Generation 3. Case 3 – The Weather Company – Creating Consumer Apps that

leverage its’ big data

30 Sep 2016 1. Summary of Learnings so far 2. Industry Focus - Healthcare

3. Panel Discussion at 8 pm

7 Oct 2016 4. Industry Focus – Smart Cities and Governments 5. Case 4 – Grok: Action Intelligence for Fast Data

14 Oct 2016 1. Industry Focus – Consumer Products & Retail 2. Guest Speaker 3

21 Oct 2016 1. Tools and Technologies currently used and What’s coming

28 Oct 2016 1. Starting to use big data in your own business – Build own capability, Proof

of Concept

4 Nov 2016 1. Second Assessment 2. Privacy and Ethics Concerns for Big Data Usage

11 Nov 2016 1. Summary of Learnings 2. Group Projects Presentation 3. Panel Discussion at 8 pm

ACADEMIC HONESTY & PLAGIARISM Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity & honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources. Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor. Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

1

NATIONAL UNIVERSITY OF SINGAPORE

SCHOOL OF BUSINESS

Department of Decision Sciences

BMA5235 Transformational Service Innovations

Lecturer : Professor Christopher Chia

Session : Semester I, 2016/2017

Course Objectives

This course will provide the participants knowledge of how a strong sense of purpose and strategy, coupled with knowledge of how to use various tools and techniques to increase productivity or develop new revenue streams will lead to a successfully transformed organisation. While using specific examples, it is anticipated that participants will be equipped with a methodology to manage change in their own organisations, via the application of service innovations. This course will benefit participants with an interest in how strategy drives operations and technology to arrive at a business outcome that involves and engages its clients and customers.

Course Outline

In an increasingly competitive world, companies must focus on the investments, outsourcing options, organization development and innovation to drive and support business. Service transformation around business process management/re-engineering and technology is one of the methods by which organizations evolve/sustain themselves and also grow to delight their customers, and to expand their core product/service offerings, or to achieve superior productivity outcomes.

Such transformations are underpinned by a focus on the customer, strategic decision-making, judicious application of information and communications technologies and other management tools. And insights into how to overcome the risks of disruption to their traditional businesses.

This module will walk the students through the different scenarios and challenges faced in business transformation. It will show how a holistic approach has enabled organizations to transform themselves using a mix of purpose/strategy, business process (both for productivity or new businesses) and people strategies. Participants will see how barriers to change have been overcome with the resulting innovations transforming the ways organisations have stayed relevant in these times. And the importance of keeping the people in the organisation focused on the transformational process; with service innovations that overcome challenges in organisations.

Small group projects and discussions will enable the course participants to gain practical insights into how organisations transform themselves; and give participants an insight into how they may themselves become an enabler of change in their organisations.

2

Reference Textbooks

There is a course reader for this class. Some tentative reading materials:

Aley, J., "Software Doesn't Work. Customers Are In Revolt. Here's the Plan." Fortune (25 Nov. 2002): 147-153.

Beer, M., R. A. Eisenstat, and B. Spector. "Why Change Programs Don't Produce Change." HBR (Nov-Dec. 1990): 158-166. Reprint 90601.

Bensaou, M., and M. Earl. "The Right Mind-set for Managing Information Technology." HBR (Sep-Oct. 1998): 119-128. Reprint 98502.

Broadbent, M., and P. Weill. "Management by Maxim: How Business and IT Managers can Create Infrastructures." Sloan Management Review (Spring 1997): 77-92.

Brynjolfsson, E., and A. A. Renshaw, and M. Van Alstyne. "The Matrix of Change." Sloan Management Review (Winter 1997): 37-54. Reprint 3823.

Christensen, C. M., and M. Overdorf. "Meeting the Challenge of Disruptive Change." HBR (Mar-Apr. 2000): 66-76. Reprint #R00202.

Case:

1. Harvard Business School Case study on “Transforming Singapore’s Public Libraries”

Assessment

A) Group Project

Group report/PPT 40%

Individual delivery 20%

B) Class assignment 20%

C) Personal Learning report 20%

Spring 2016 NUS Business School Joel M. Stern

ADVANCE CORPORATE FINANCE – BMA5312

Course Description This course emphasizes problem solving and applications for the theories of modern finance. What efficiencies of markets means in a practical sense is demonstrated, the economic model of the firm is compared with the accounting model, the weaknesses of the accounting framework are demonstrated in valuation of acquisitions and designing incentive contracts for management. Dividend policy and capital structure are investigated as they relate to changes in share value and the price-to-earnings ratio. The concept of cost of capital is shown to be independent of capital structure even in the real world, a principal component of the Miller-Modigliani theorems in a world of perfect capital markets. Finally, three alternate models are presented for pricing firms, including initial public offerings, acquisitions and divestitures and for internal capital allocation. Strategic planning and valuation is reconciled and the EVA framework is used for designing incentive contracts for management, boards of directors and even for all employees right down to the shop floor. The emphasis is on real world illustrations. The student should have achieved a practical understanding of the theories of modern finance when the course is completed. Specific Requirements There are two specific requirements for the course in addition to expected attendance. The first is a paper that will be submitted on a date to be determined by Professor Stern, which will be a valuation of a publicly traded firm. Your task is to compare the value calculated with the actual value, and if there is a significant difference, you are to explain the principal causes. The second requirement is a final examination. Each will account for 50 percent of the final grade. However, the instructor has the option of 10 percentage points based on class participation.

Spring 2016 NUS Business School Joel M. Stern

ADVANCE CORPORATE FINANCE – BMA5312 Required Reading The first three chapters of reading in (1) are required for the first lecture. Required reading (3), the Arzac volume on valuation must be completed during the course, but it is most important that the content of his book be completed by the time we complete session #8 which completes the discussion of valuation as presented by Arzac. The remaining issues on valuation are discussed in session 10 and they are concerned with the EVA model evaluation. This is found in Stewart’s Quest for Value and in reading (5)a. (1) The Quest for Value, by G. Bennett Stewart, III; HarperBusiness, 1991; (2) The EVA Challenge, by Joel M. Stern and John S. Shiely with Irwin Ross; John Wiley & Sons, Inc. 2001; (3) Valuation for Mergers, Buyouts, and Restructuring, by Enrique R. Arzac; John Wiley & Sons,

Inc. 2005; (4) “Dividend Policy: Growth and Valuation of Shares”, by Merton H. Miller and Franco Modigliani, Journal of Business 34.4, October 1, 1961: 411-33; (5) Journal of Applied Corporate Finance - as assigned:

(a) “The EVA Financial Management System”, by Joel M. Stern, Bennett Stewart, and Don Chew, Vol. 8, Summer 1995, 32-46;

(b) “The Modigliani-Miller Propositions After Thirty Years”, by Merton H. Miller, Vol. 2,1, March 1989, 6-18;

(c) “The M&M Propositions 40 Years Later”, by Merton H. Miller, European Financial Management, Vol. 4, Nov. 2, 1998, 113-120

(d) “Still Searching for Optimal Capital Structure”, by Stewart C. Myers, 6.1, Spring 1993: 4-14; (e) “The Theory of Stock Market Efficiency: Accomplishments and Limitations”, by Ray Ball,

Vol. 8, 1 Spring, 1995:4-17; (f) “The Determinants of Corporate Leverage and Dividend Policies”, by Michael J. Barclay,

Clifford W. Smith and Ross L. Watts, Vol. 7, 4, Winter, 1995: 4-19; (g) “Capital Structure and Stock Repurchase”, Stern Stewart Roundtable Discussion, Vol.14,1,

Spring 2001, 8-41; (h) “The History of Finance: An Eyewitness Account”, by Merton H. Miller, Vol. 13; No. 2:

Summer 2000 (i) “How Do CFOs Make Capital Budgeting and Capital Structure Decisions?”, by John Graham,

Vol. 1; No. 1, Spring 2002 (j) “A Look Back at the Beginnings of EVA and Value Based Management: An Interview with

Joel M. Stern”, Interviewed by Joseph T. Willet, Vol. 26; No. 1; Winter 2014 (6) “Corporate Income Taxes and the Cost of Capital: A Correction”, by Franco Modigliani, and Merton Miller, The American Economic Review, Volume 53, Issue 3 (Jun. 1963), 433-443 (7) The Journal of Finance, “Debt and Taxes”, Merton H. Miller Vol. XXXII, No. 2, May 1977:261-275 (8) “Economics Focus Taken for a Ride”, The Economist, July 13, 2002 (9) “The Case for Insider Trading”, by Henry G. Manne, The Wall Street Journal, March 17, 2003 (10) Joel Stern’s FinWeek Articles (11) “Fixing corporate governance”, by Joel M. Stern, Grumpy Old Bankers: Wisdom from Crises

Past, March 2009, ISBN 978-0-9561904-0-6 (12) “How to Fix Corporate Governance and Executive Compensation”, by Joel M. Stern and James Kinnear (13) “The great trailblazer”, The Economist, May 10, 2014

Spring 2016 NUS Business School Joel M. Stern

ADVANCE CORPORATE FINANCE – BMA5312

SYLLABUS

Sessions Subject Readings in (1) By Chapter,

Readings in (4) & (5) By Letter, (6), (7) (8) & (9)

1, 2

The Structure of Markets and the Conflicting Claims of the Accounting and Economic Models of the Firm

1, 2, 3

5(e)

3 Alternate Uses and Calculations of FREE CASH FLOW

8 All of (7)

4, 5, 6 See footnote I

Valuation: No corporate income tax, no superior returning projects; a world of taxes, still no superior returning projects; a taxable world with superior returning projects The effect of capital structure on share price and on price to earnings ratio

7,9 All of (4) especially Sections II & III plus 5(b), (c), (d) All of (6)

7, 8 Valuation and economics of information: Bond ratings, share buybacks, preferred shares, dividend policy

10,11 5(f), (g)

9 The methods and motives of corporate restructuring

13, 14

10 See footnote II

The EVA challenge, the model, incentive signaling, informational asymmetries, the role of stock options

6 5(b), (c), (h)

11 EVA incentives as a way to reconcile capital structure and dividend signals

5(a), (i), (j) & all of reading (2)

12 Alternative approaches to value and incentives: The case of traditional approaches in the real world

To Be Assigned

Same as session 11 & (8) (9) (10) (11) (12) (13)

(I) The students will be held responsible for the chapter on this subject in The Quest for Value by G.

Bennett Stewart.

(II) Students should read The EVA Challenge before the course begins and definitely before the course is over since it represents specific ways to apply the theory and policy of modern finance.

(III) Required reading (3), the Arzac volume on valuation must be completed during the course, but it is most important that the content of his book be completed by the time we complete session #8 on valuation which completes the discussion of valuation as presented by Arzac. The remaining issues on valuation are discussed in session #10 and they are concerned with the EVA model evaluation. This is found in Stewart’s The Quest for Value and in reading 5(a).

1

DATED: 31 May 2016

BMA5323 Applied Portfolio Management: Security Analysis and Valuation

SEM 1, 2016 – Course Syllabus (Version 1)

Instructor: Joseph Cherian Room: 7-58, BIZ 1

Email: bizjc@nus.edu.sg Tel: 6516-5991(O)

Section: Tuesday 6pm – 9pm, CAMRI Lab, 3rd Floor, BIZ 1 (MRB)

TA: Mr Shao Yuping <yuping.shao@u.nus.edu>

Course Description: This Advanced Seminar in Portfolio Management module will serve as a

comprehensive real world examination of the quantitative, fundamental, behavioral, and model-based

approaches utilized for performing security valuation & portfolio management in the financial industry.

Major topics covered include Relative Valuation, Multifactor Models, Liquidity and Value Enhancement

Strategies. Lectures will involve frequent interaction with practitioners from the industry, hands-on lab

projects, and real-life examples. Students are also expected to research, write, and publish equity

investment reports (preferably on Asian companies with limited research analyst coverage) and/or

portfolio investment strategies. These individual equity reports and a presentation in the form of a team-

based stock pitch could subsequently be presented by the students to a panel of senior members from

the Singapore investment management industry so as to showcase & ascertain students’ equity research

and stock-picking skills. There may also be an opportunity to put your skills to the test and manage real

money (i.e., a live CAMRI Student Managed Fund) during the course of the semester. Students will be

divided into sector teams and their fundamental analysis & recommendations (appropriately formatted)

will be incorporated into the CAMRI Student Managed Fund portfolio optimization process. This course is

suitable for students interested in a career as a financial analyst (both on the buy-side and sell-side), or as

a portfolio manager.

1. Multifactor Models (MFM) in Portfolio Management

Economic rationale for MFM

Types of models – APT, Relative Valuation, Fundamental

Diversification of themes

Testing for efficacy, monotonicity, transitions, downside risk

2. Behavioral Finance

Anchoring, over and under-reaction, overconfidence, loss aversion

Herding

Mental accounting

Confirmation and Hindsight Bias

3. Liquidity and Asset Prices

How we define and measure liquidity

How liquidity affects valuation of asset prices

Flight to liquidity versus flight to quality

4. Hedge funds and Alternative Investments

Investment strategies

2

DATED: 31 May 2016

Performance and risk management, particularly evaluating downside risk

5. Reading Materials

Investment Valuation (Revised and Updated), by Aswath Damodaran (AD), 3rd University Ed., Wiley Finance, 2012. This text serves as the primary reference guide.

“Worry-free Inflation-Indexing for Sovereigns: How Governments Can Effectively Deliver Inflation-Indexed Returns to Their Citizens and Retirees,” (Z. Bodie, J. Cherian and W.K. Chua), Life-cycle Investing: Financial Education and Consumer Protection (CFA Institute), The Research Foundation of Chartered Financial Analysts (CFA) Institute Publications Series, 2012, Z. Bodie, L.B. Siegel and L. Stanton (Editors)

“A Tail of Two Cities: On the Downside Risk and Loss Profile of Asian and North American Hedge Funds,” 2014, (J. Cherian, C. Kon and W. Weng), CAMRI Working Paper, NUS Business School (SSRN Abstract ID 2520354; http://ssrn.com/abstract=2520354), Forthcoming, The Journal of Alternative Investments, 2016.

“Liquidity and Portfolio Management,” (J. Cherian, S. Mahanti and M. Subrahmanyam), March 2012, CAMRI Working Paper, NUS Business School

CAMRI's guide for new users of Bloomberg is available by clicking here. More Bloomberg resources are available here for you to download

Barra resources are available for you to download (password-protected). You can also view the Barra Training Video. Lastly, click here for a CAMRI-developed Guide to Barra Aegis Portfolio Manager and a CAMRI-developed Guide to Barra Aegis Performance Analyst

The course will also have my overheads & various current articles distributed via IVLE.

Learning Outcomes

In-depth knowledge of distinct security valuation approaches

Methodologies & models used in theory and in practice - Relative Valuation, Multifactor Models, and Value Enhancement Strategies, Behavioral Finance.

How liquidity affects valuation

Ability to value various assets and stochastic cash flows related to the firm (decision-making under conditions of uncertainty)

Hands-on computational finance, risk & portfolio management, and trading abilities

Students are expected to:

1. Research, write, and publish investment reports (preferably on companies with limited research analyst coverage) using both quantitative and fundamental techniques

2. Perform live & backtested portfolio investment strategies to develop equity research and stock-picking skills using financial applications such as Bloomberg and Barra

3. Perform portfolio optimization and risk management routines and analysis

4. Explore the latest thinking in investment management systems and processes

CAMRI Lab: Located at Level 3 of BIZ 1 (MRB), the CAMRI Investment Management & Trading Lab

enhances students’ portfolio research & management experience and activity. The Lab has 31 student

workstations + 1 Instructor worskstation, Bloomberg live feeds, live financial data tickers, investment and

3

DATED: 31 May 2016

risk management software modules, and various other trading and portfolio management software

applications. The aim is to enable NUS Business School students to have first-hand experience and training

with the best tools available to the professional investment community, and as a result, best prepare them

for the investments, financial, and wealth management job markets. Financial Software & Datasets

available in the CAMRI Lab include: Bloomberg and Barra installed on all the 32 PCs. (Bold indicates

students should have acquired deep knowledge of these software by semester’s end.) For the weblinks

and downloadable training materials on the aforementioned software, please visit:

SMF Website: http://bschool.nus.edu/CAMRI/StudentManagedFund.aspx

NUS Recess Week is from Sat, 17 Sep 2016 - Sun, 25 Sep 2016

The Major Quiz is on 1 November 2016. There is no Final Exam in this class.

GUEST SPEAKERS: We will have numerous guest speakers from the portfolio management, trading, asset

allocation, external manager selection, back office operations and private equity industry sharing with us

what their average day is like.

Grading:

Quantity Type Points

1 Major Quiz (Nov 1st – in class) 40

1 1

Case Fundamental Equity Research Report

10 20

1 Class Participation 30

TOTAL 100 Also visit past Student Equity & Trading Reports available at the CAMRI website:

http://bschool.nus.edu/CAMRI/StudentManagedFund.aspx

Potential HBS Cases:

1. Dimensional Fund Advisors, 2002 – Case No: 9-203-026

2. Smith Breeden Associates: The Equity Plus Fund (A) – Case No: 9-297-089

4

DATED: 31 May 2016

APPENDIX A

ACADEMIC HONESTY & PLAGIARISM – A WORD FROM YOUR SPONSOR

Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University

and School expect every student to uphold academic integrity & honesty at all times. Academic dishonesty

is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification

of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of

resources.

Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The

New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should

adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which

is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for

assessment is being presented as entirely your own work. This is a minimum standard. In case of any

doubts, you should consult your instructor.

Additional guidance is available at:

http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct

Online Module on Plagiarism:

http://emodule.nus.edu.sg/ac/

5

DATED: 31 May 2016

APPENDIX B

All students are encouraged to also take the following courses in SEMS 1 or 2, which is part of the Student

Managed Fund Track at CAMRI and taught by former senior fund managers, chief investment officers and/or

captains of the investments industry. They are now adjunct professors at CAMRI:

CAMRI-proposed MBA classes if you are interested to find a job in the asset management industry!

Asset Management Module No

Core or Elective

Type

Financial Management BMA5008 Core

Managerial Economics BMA5001 Core

Financial Accounting BMA5003 Core

Management Accounting BMA5005 Core

Macroeconomics in the Global Economy BMA5011 Core

Value Investing in Asia (Equities focus) BMA5324 Elective

International Finance BMA5325 Elective

Applied Security Analysis and Valuation Workshop (Equities

focus)

BMA5331

Elective

Investment Analysis and Management (Equities focus) BMA5302 Elective

Fund Management (Multi-asset class / Asset Allocation

focus)

BMA5309

Elective

Private Equity (PE focus) BMA5313 Elective

Special Topics in Private Equity (PE focus) BMA5313D Elective

Valuation and Mergers & Acquisitions (Corporate finance /

M&A focus)

BMA5313A

Elective

Topics in Finance : Trading and Investing in Commodities BMA5330 Elective

Macroeconomics & Finance: Perspectives From Asia BMA5122 Elective

Family Business and Wealth Management BMA5327 Elective

NOTE 1: Also open to select and a limited number of MBA Students, a 4MC course: FIN 4118 Equity Research

Seminar (BBA Hons module) taught by Prof James Cheng.

6

DATED: 31 May 2016

NOTE 2: I also strongly recommend you register for and take the CFA (Levels I, II and III) and CAIA (Levels I and II)

exams if you are seriously interested in the asset management industry.

NATIONAL UNIVERSITY OF SINGAPORE NUS Business School Department of Finance BMA5324 Value Investing in Asia Instructor: Robert Du

Robert is a doctoral candidate at Hong Kong Polytechnic University and is

scheduled to graduate late 2016 or early 2017. Robert has got his

bachelor’s and Master’s degree from Shan Dong University and Beijing

Foreign Studies University. Over the past 20 years or so, he has taken

more than 40 business and particularly finance courses at educational

institutions like University of Chicago, Wharton Business School, IMD

(Lausanne, Switzerland), NUS, HKUST etc. Also, Robert has been

participating in finance and investment conferences and seminars in major

financial centers around the world on a regular basis. Furthermore, Robert

has gone to Warren Buffett’s Annual Shareholders Meeting a few times

and took a course at University of Nebraska in Omaha to have won a

Warren Buffett Genius Certificate. He co-founded a public - Listed

Company from early 1990s to early 2000s. For a long time, he has been

making the most conscious effort and has successfully bridged the two

worlds of real world investing and financial theories. While pursuing his

Doctoral degree from PolyU, he has taken, for longer than two years,

finance research seminars and lectures by visiting professors from all over

the world intended for its faculty members and Ph.D. students on a

weekly basis to have gained a sound and wide mastery of contemporary

finance issues and theories behind the best practices. He has been a guest

lecturer at Hong Kong University on “Value Investing” and “The Essence

of Warren Buffett’s Investing” to graduate school finance students.

Robert has been gaining knowledge and insights into businesses for more

than 20 years and business insights, forecasts and valuations are at the

core of investing. No investing can have long term success without a

strong risk management priority, I believe.

Course Description:

This course seeks to influence, educate and develop value

investors for Singapore in particular and Asia in general by

focusing on the fundamentals of both great theories and sound

practices of value investing. Value investing has come a long way

from Ben Graham to today.

Though the focus of the course is on the successful application

of great theories and the development of a student’s value

investment system and style, the course will also be touching

upon all elements of value investing, such as its history and key

value investors, key concepts and developments, reference

articles, papers and books, skills, characters, market insights,

risk management, psychological workings, valuations, businesses

insights and forecasts and the thinking processes.

This course will draw from the concepts and wisdoms of value

investing legends and its most successful practitioners. The

course will be using real and present day companies, their data

as examples to learn how the value investors have made their

winning investments and try to apply their principles to make

your own investments.

By the end of the course, students will have come up with a

preliminary framework or a system and a set of key principles

to guide and help you find businesses to invest in. We will learn

that investing is more than what you know, what skills you

have but rather what you are and what your core values are.

Value investing has worked for years and you will have the

chance to become a lifelong value investor and this program will

be providing you with all you need to succeed.

These are the key themes to be covered:

First, what do the investors need to become value investors?

What are the core qualities for a value investor? Second, what

are INTELLIGENT BEHAVIORS for value investors? Why is it so

hard to stick to them? Third, how does the stock market

WORK? Fourth, how do value investors make the decision?

Fifth: The study of businesses and their valuations.

Class one:

Introduction -Seeking wisdom through history, principles, and

cases of Value Investing.

I will raise the vital question:

“What important truth about investing does a good investor

know that other investors don’t?” or “What is the significant

edge that a good investor has over others?”

The first class will spend 30 minutes brainstorming together for

value investing opportunities and exploring the core activities of

a value investor.

Class two:

How can one become a value investor?

The second class will be talking about all the aspects of a value

investor. A great value investor lives what he or she preaches.

What does it take to become a value investor and what is like

being a value investor?

Class three:

Risk Management

Value investing Rule No.1 is “Never Lose Money”, and this is

the best risk management principle that an investor can have.

Risk has to be controlled for any system, an investor or a fund

manager to work well over long term or on a sustainable basis.

Too many systems or investors fail because a fatal flaw brings

down the system or the investor or the fund manager,

although most of the times the system works beautifully. Your

Investment System should put risks at the highest

consideration. If the worst scenario will not bring down the

system, nothing will. However, when it comes to risk

management, investors should always be over prepared and

should leave plenty of room (margin of safety) for the knowns

and unknowns. That is the cornerstone of a system.

Contrary to the conventional wisdom, my investing principles

hold that returns should be maximized by taking on very little

absolute risk, a way of thinking that defies the prevailing logic:

“more risk, more reward”.

Uncertainties, Risk Wisdoms, Margin of Safety, Macro or Micro

Risks, emotional biases.

Books:

Thinking Fast and Slow by Daniel Kahneman and Fooled by

Randomness and Black Swan by Nassim Taleb.

Class four:

Presentation 1

20% of the class focuses on how someone becomes a value

investor and making a presentation on that topic; 20% focuses

on how value investors manage risks; 20% focuses on the

failures and mistakes of value investors; 20% talks about how

to know a business and how to value businesses; 20% presents

on what core qualities that value investors have.

The presentation will be no more than 10 minutes and should

strictly focus on your given topic. (Slides are a must!)

Class five:

How do we know businesses and how do we value businesses?

This is a most important element for value investing. Yet, it is

so badly done and overly neglected.

Business models? Predictability? Moat? Earnings? Free cash

flow? Management? Industry? Competiveness?

We would be talking in groups about how to spot durable

competitive advantages, to recognize great management and to

forecast huge or increasing earnings’ growth. A ‘durable’

advantage means the ability to keep its current market share

and continually expand it in the future. We will talk about the

qualitative side of the business including business model, the

brand and the culture.

How does one spot a great business?

Class six:

Group discussions about the ‘price and value’ of a business or a

share and about ‘Value and Growth’.

Valuation Framework.

Valuation Exercise.

How do we value a business? We will be looking at a few

valuation models. The point will be made that simpler models

should be adopted and may perform well over a long period of

time.

How does a business create value?

What is Intrinsic Value?

Class seven:

Introduction to Mr. Market and How to Think About Markets.

How does the stock market work?

Ben Graham thinks “in a short term the market is a voting

machine, but over the long term it is a weighing machine”.

Consensus in the stock market is usually wrong. The peak of

optimism is often the beginning of a declining market. The

bottom of pessimism is often the start of a rising market. The

market can behave in odd ways as perceived by participants.

Sometimes, it is stupid and crazy. Sometimes, it is wise and

smart. The market moves between extremes. It is the way

human beings think and their judgments that dominate the

market. There is a pattern how human beings behave in a group

and history thus repeats itself. On both personal and collective

levels, the snowball effect in numbers and over time can change

the market on a dime. Eventually, it is psychology or sentiment

that leads to panics and recessions, madness and exuberance.

How do value investors efficiently look for and find value

investing opportunities?

The behaviors of different Groups of Institutional Investors.

The typical behaviors of Retail Investors.

What are smart behaviors and how do we develop them?

Class eight:

What is the thinking process for a value investor’s deciding on a

buy or a sell?

How does one time the market? Warren Buffett claims that he

does not try to time the market. However, from the public

remarks he has made about the market, he is a master!

How does Warren Buffett time the market?

The Entry Strategy and the Exit Strategy.

Class nine:

THE Principles of the Graham-Buffett Value Investing

System.

Portfolio Construction - The Whole System Thinking

There are so many ways of investing. However, one needs to

identify systems that work, figure out their essence and learn

to apply them. The system comes into being this way. Building

a system is a process of questing for essence and truth, keep

applying it after finding it.

The system describes a certain way of thinking and acting. It

can be a philosophy and a set of rules. It can be condensed to

a checklist, the key elements to remember and keep running

through them while in action. The system should be focused on

the constant and fundamental factors, the broad and long-

lasting forces, ones that define our times and age.

Intelligence is defined as the good senses in “Intelligent

investors and Security Analysis”.

What are the deep smarts for successful value investors?

Class ten: The Shining Cases of Value Investing. Channels and ways of searching for and finding value in any market or time, and especially in the Asian market. What are the frameworks that great value investors use to find deep value investing opportunities?

Class eleven:

Presentation 2: What is my value investing system based on my

learning and practice so far?

- What is it?

- How is it going to work?

- What truth about value investment that I know but most

others don’t?

Class twelve: “Value Investing past, present and future.” How will value investing evolve in the USA and Asia? – A comparative study of both markets and value investors.

Class thirteen:

Putting together all we have learned so far.

What is NEXT?

Homework: Essay Writings on two topics of 10. Course Assessment:

Class Participation: 20%

Presentation 1: 20%

Presentation 2: 20%

Class Essay: 40%

Page1

BMA5327

FamilyBusiness&WealthManagement

Semester1/2016,Tuesdayat18:00–21:00Venue:BIZ1#

Thisversion:19May2016

Instructor: AssociateProfessorDr.YupanaWiwattanakantangDepartment: FinanceOffice: MochtarRiadyBuilding,BIZ1#7-44Email: yupana@nus.edu.sgCourseDescriptionFamilyfirmsformbackboneofAsiaandworldeconomies.Familybusinessesarecommonlythoughttobesmall,unprofessional;andinmostcasesseldomsurvivethreegenerations.Thereare, however, a number of success stories, for example, Hermes, Toyota, Merck, and FordMotors.Thesefirmsarelarge,publiclytraded,andcontrolledbythefoundingfamilyforseveralgenerations. How do these families manage to grow their business internationally andperpetualtheirwealthformultiplegenerations?Whydomostfamilyfirmsnotsurvive?Weanalyzethefamilybusinessmodelthathighlightstheroleofthefoundingfamilyinthefirm.Manyfamilymembersownownershipstakesandholdtoppositionsatthefirm.Thefamily,therefore,hasimmenseinfluenceoncorporatefinancialdecisions.Thiscanbeharmfultothefirm’svalue if the family chosecorporatepolicies toplease the family.Wediscusshow thefamilycanputconstraintsonthefirmsontopofvariousroadblocksfacedbythefirm.LearningOutcomesThiscourseanalyzestheproblemsuniquetofamilyfirmsanddiscussesthesolutionssuchassettingupgoodgovernancewithinthefamilyandthefirmtominimizesuchagencyproblems;structuringtheownershipsoasnottolosecontrolwhilebenefitingfromexternalfinancesuchasM&A,IPO,privateequityfunds;andsuccessionplanning.Theknowledgefromthiscourseisparticularlyusefultostudentswhoplantojointheirfamilybusiness. This course also guides students who plan to work in family office and privatebankingprovidingpracticaladvicetohighnetworthfamiliesonwealthmanagement,business,andsuccessionplanning.Managingthebusinessisessentialasmostfamilybusinessownershavetheirwealthinvestedintheirbusiness.Forstudentswhoplantopursuetheircareerinbanks,privateequityfunds,M&As,pensionfundsandMNCs,thiscourseprovidesknowledgetodealwithfamilybusinesses,whoarelikelytobeyourclientsorstrategicpartners.YoumightalsoworkinafamilyfirmeitheraspartofabigbusinessgrouporSMEandhavingthefoundingfamilyasyourboss.Agoodunderstandingofhowfamilybusinessesoperateisessentialfordoingbusiness.

Page2

CourseModulesThisisacase-basedcourse.Thiscoursehasthethreemainmodulesdiscussingtheroleofthefamilyinthebusiness.WeusecasesonfamilyfirmsfromvariouscountriesinAsia,Europe,andAmericatoanalyzethebelowissues.1. The family business model.We discuss the family business model and analyze the

strengthsoffamilyfirmsandkeychallengesthatconstraingrowthandsurvivaloffamilybusinesses.

2. Financing growth& keeping family control.We analyze challengeswhen the familydecidestohaveaccesstoexternal financesuchasstrategicpartners,privateequity,andpublicinvestorsviaIPO.Oneofthekeyissuesishowtoorganizeownershipandcontrolstructurestoallowthefamilytomaintaincontrolwhilebenefitingfromexternalfinancingandtheexpertiseofoutsideinvestors.Wealsodiscusschallengeswhenfamilyfirmsworkwithexternalfinanciers.

3. Thefamily&succession.Planningforthetransferofownershipandmanagementisone

ofthekeyissuesforperpetuatingthefamily’sbusinessandwealth.Successioninfamilybusinessiscomplicatedbecausefamilyvaluesandrelationshipsplayamajorrole.Furtherfamilybusinessesoftenfailasaresultoffamilyfeuds.Goodgovernancestructuresatthefirmandfamilylevelcanminimizethenegativeeffectsoffamilycontrolonthebusiness.Another key challenge is how to incentivize subsequent generations and keep theentrepreneurial spirit alive. Successful transition requires a well-crafted ownership,management,andgovernancestructure.

Thecourseplanalsoincludesguestvisitsfromfamilybusinesses.ClassMaterialsThemainmaterialsarecases.PrerequisiteThecasesandclassdiscussionarelargelynon-technical.However,studentsmusthaveagoodunderstandingofbasicstatisticsandthebasicconceptofcorporatefinance.NUSstudentsmusthavealreadypassedBMA5008FinancialManagement.AssessmentsComponent WeightClassParticipationandDiscussion 30%Tests 40%Group-basedProjects 30%Total 100%

Page3

ClassParticipationandDiscussion(30%)The learning method of this class is based on discussion of cases. Class attendance andparticipationareessentialandcontributeto30%ofyourgrade.Allclassmembersareexpectedtocometoallclasses,wellpreparedbyreadingthematerials,andcontributetotheclassbyactivelyparticipatinginthediscussion.Examplesofissuestobediscussedwillbelistedinthecourseoutline.Positive contributions include responding to questions, even if not providing the “right”answers,aswellasadvancingthediscussionbyprovidingnewideasorinsights,buildingonothers’ arguments, or presenting a counterargument to others’ comments in a respectfulmanner.Notreadingthecasespriortoclass/noparticipationinclasswillbegiventhelowestscore.Anexcusedabsenceisgrantedonlyifitisduetoillnessandmustbedocumentedandnotifiesmeinadvance.Otherclassrules:

• Neitherlaptopnormobilephoneisallowedinthisclass.• StudentsmustbeseatedatthesameseatfromClass2nd.• Pleaseuseyournameplateineveryclass.

Projects(30%)Theprojectsaretobedoneinagroup.Thedetailoftheprojectswillbedescribedinclass.TESTS(40%)Studentswillbeaskedtoanalyzecasesusingtheknowledgediscussedinclass.

NOTE:Theinformationinthissyllabusisnotfinalandmaychange.

Applied Investment Valuation: BMA 5331

Course Description

This course is on equity valuation. As there are many methods to value equities, this course will

discuss which methodology works best under what conditions and why? Some of the methods are

well established and others are relatively new. The course will evaluate a portfolio of approaches to

come up with a consistent approach to valuation. Besides valuing equities the course will also cover

what we can infer from prevailing prices?

It is a practical course where the emphasis is on application to real life situations. The focus is on

“learning by doing”. The course will use numerous contemporary case studies and many different

techniques to value equities. Most classes will have a case situation, which is live or near-live. These

would allow students to appreciate current market practices and prepare them for a career in

investment management, investment banking and corporate finance.

The module aims to do the following

To teach students different security valuation approaches and their relative merits

To introduce students to security valuation for different kinds of businesses and for differing

stakeholder objectives.

To provide a framework for assessing risks and interpreting market prices.

Who should take this course?

If you are interested in a career in in Investment Management (mutual fund manager, hedge fund

manager, equity analyst), Investment Banking (M&A, Equity Capital Markets, Sell side equity

research, analyst, investment advisory) and Corporate Finance (CFO, M&A, Treasury) or a managerial

role in these professions, this course will prepare you for the industry. The emphasis in the course is

to build on concepts that students may have already learned and progress to apply these in

contemporary market situations. This course should prepare students to start contributing in their

roles in finance industry immediately upon graduation.

Instructor

Sunil Gupta is a senior executive in the industry who is a long time resident of Singapore. During his

career of more than 25 years in financial services, his many jobs include Global Head of Technology

and CleanTech Banking coverage at Standard Chartered Bank, Chief Operating Officer for Morgan

Stanley (Asia), Head of Technology and Cleantech research at Morgan Stanley, CEO for Natwest

Markets, India and CEO for Crosby Securities, India.

Sunil has extensive experience in equity analysis and valuation and has been top ranked by

reputable industry polls conducted by Institutional Investor, Greenwich, Euromoney and Asia Money

for seven different investment categories – Asian Hardware Technology, Asian Semiconductors,

Asian Internet, Global CleanTech, Asian Conglomerates, Singapore Equities and Indian Equities. He

has covered many markets such as – Hong Kong, Korea, Taiwan, China, Singapore, Asean, India, US

and developed Europe. He has first hand experience of many economic and financial market cycles

such as the initial Gulf crisis in 1990, The Asian crisis in 1997, Dot com bust in 2001 and the global

financial crisis in 2008.

Student Comments from First Offering – Fall 2014

This course was offered for the first time in Fall 2014 and here are some student comments

“I am learning about game theory in microeconomics but today you showed me a real life example. I am learning about average costs etc. in microeconomics, today I understood in a real life example of why companies keep on producing even when cost is higher than selling price. Prof. Rob Lewis's Value investing class is giving me a framework to understand businesses. You are giving me a training on understanding valuation techniques. Just putting these two classes together I am having an unparalleled experience, and my tuition fees for NUS MBA is fully covered! THANK YOU”

- Subhajit Mandal – MBA 2015

“Frankly speaking I much prefer this kind of "real-life" lesson. I thought and wished that MBA

modules or curriculum mix put much weight on real life challenges, rather than just theory or

pure textbook. Overall, I put higher score to this module over other modules.”

Subi, Mitsui & Co. – MBA 2015

“From my honest point of view, this course is really helping us clarify a lot of confusions we

have in mind. Most of us have done numerous finance courses and because of the depth of

the subject and lack of time we are unaware of the pit falls during practical application. This

course helps us to focus on what really matters very efficiently and prepares us for industry. I

hope many students benefit from this course.”

Jithesh – MBA 2015

Asia Focus

This course will leverage on extensive experience of the instructor in Asia. This course would be

useful for anybody thinking of practicing a career in finance or doing business in Asia. The course will

discuss unique characteristics of Asian markets such as:

Asymmetric information and ways to deal with it

High growth situations with inherently higher volatility resulting in idiosyncratic risks

Unique interplay of political, regulatory and economic changes

Course Outline

Part 1: Valuation Approaches Making sense of the valuation alphabet soup

Intrinsic Value – DCF, DDM, EVA

Relative Valuation – P/E, P/BV, P/Revenue, EV/EBITDA - Relative to history, Relative to peers

What are the strengths and weaknesses of each valuation methodology?

Part 2: Extracting key drivers of value

Industry structure, Comparative advantage, Key success factors, S-curves

Framework to dissect the business

Modelling, Forecasting versus Hypothesis

Learning about implicit and explicit biases and methodology

for isolating potential bias

Part 3: Valuing a cyclical business

Recognition of cycle

Techniques to predict a cycle

Valuing the cycle – Adapting the tools

Reconciliation of techniques

Part 4: Valuing a high growth business

Case Study (High Growth Business)

Estimating growth

Return Life Cycle

Reconciliation of techniques

Part 5: Valuing risk What is in the price? Deriving fundamentals from price

Price versus Value – Explaining divergence and exploiting the gap

Sensitivity versus scenarios

Validation and back testing

Part 6: Security pricing for an issuer

Case Study

Techniques used

Potential stakeholders

Learning Outcomes

At the end of this course, students are expected to acquire

An appreciation for key differences between different valuation techniques and

understanding which technique works best under what business and industry environment.

Appreciate the differences in valuation for stakeholders with differing objectives

Ability to identify, quantify and value risk

Course Pedagogy

Lectures and Asian case studies based on actual experiences of the instructor. As this course relies

on extensive discussions and learning by doing, the size of the class would be limited to 25 students.

Evaluation and Grading

Individual Assignments / Tests 40%

Group report / Presentation 40%

Class Participation (Individual) 20%

Pre-requisites

This course requires students to have done core finance courses.

Reading List

• Investment Valuation: Tools and Techniques for Determining the Value of any Asset - Aswath

Damodaran

• Investments - Zvi Bodie, Alex Kane, Alan Marcus

• Expectations Investing – Alfred Rappaport, Michael Mauboussin

• Applied Equity Analysis – James English

• Valuation: Measuring and Managing the Value of Companies - McKinsey & Company Inc., Tim

Koller, Marc Goedhart, David Wessels

BMA5404 - COURSE SYLLABUS August 2016 1

MBA Programme Aug-Nov 2016 (version A)

BMA5404: Entrepreneurship and Innovation

Adjunct Professor Virginia Cha, Department of Management and Organisation, Business School, National University of Singapore bizvc@nus.edu.sg Office Biz 02-20

MBA students often observe that the kinds of businesses that venture capitalists invest in are in innovative businesses where a new value proposition is being introduced. You are interested in starting or being part of a fast-growing entrepreneurial venture, but how do you validate this opportunity as one where you can attract investors and achieve high-growth? This is what BMA5404 is designed to teach you to do. This course is based on learning by doing and learning by coaching. During the course, you and your team members will develop your own ideas, and to convert these ideas into market opportunities and test against customer reactions. Your team’s role is to evaluate, validate, and enhance the project’s core value proposition and go-to-market strategy so that it can successfully source Seed/Series A funding. Your project should involve technology to enable the delivery of your value proposition. Upon successful customer validation, you and your team will create a funding pitch deck and present to a panel of venture capitalists. This module places a strong emphasis on active learning. It will be a hands-on course, in which the participating students will be asked to develop own ideas and will have to test them; they will also have to practice the “lean startup methodology” in customer discovery and validation. Enterprising participants will also take their idea to actual stage of minimum viable product with an initial go-to-market validation by the end of this course.

There are two learning objectives: First, to learn how to innovate in any environment (large or small company) and to learn the necessary skills for innovation. The class sessions will be comprised of a combination of tutorials and plenary sessions. Tutorial sessions are where in-depth coaching of individual team projects in smaller groups to ensure deep attention and effective group learning. Plenary sessions are where knowledge disciplines are shared by the lecturer or guest speakers. Class Structure: BMA5404 class structure is unique and different than the pedagogy of lectures, case studies, and/or simulation. Each team will receive personal and intense coaching by Professor Cha. Key areas of learning will be covered by a mix of instruction, insights and experiences by guest experts, and classroom sharing and brainstorming. Other Considerations: Students are expected to conduct market validation activities ‘out of the building’ and are required to

engage in conversations with potential customers and may require cold-calls and other contact activities.

Students are expected to conduct a large-scale quantitative data collection task which may require the team to set up a landing page and to use digital tools for customer acquisition and analysis.

I. Objectives & Course Design

BMA5404 - COURSE SYLLABUS August 2016 2

Students are expected to be able to use digital tools for creation of a short video as part of the course deliverable.

Blank and Dorf, 2012, The Startup Owner’s Manual, K&S Ranch Publishers

Osterwalder and Pigneur, Business Model Generation

Eric Reis, The Lean Startup

Bill Aulet, 2013, Disciplined Entrepreneurship: 24 Steps to a Successful Startup, Wiley

50% team assessment

a. Market opportunity validation, inclusive of go-to-market plan and b. Pitch Deck

50% individual assessment a. Individual Assignment 35% b. Attendance and Participation 15%

Team deliverables: Market opportunity validation – inclusive of initial lean canvas, a summary of all qualitative customer interviews and quantitative data collected, market size opportunity analysis, opportunity validation outcome (supported by evidence) and a recommendation for this business venture. Two possible outcomes are expected from each team’s validation:

(1) Validated, and the deliverable must also include a go-to-market launch plan: How would you take the technology/application to market? How would you acquire the first 100 customers? How would the first 100 customers bring you to scalable growth? You are to include a pitch deck for seed stage investors if you have successfully validated this opportunity. (2) Not validated, and the deliverable must include possible pivot to a new business model and an initial business model canvas for the pivot, and supported by at least 10 qualitative data points for this recommended pivot. You are to include a pitch deck for angel investors for the recommended pivot.

Individual: You are expected to attend all sessions and participate actively. In addition, you will be given an individual topic on entrepreneurship/innovation where you are to conduct research on, and provide a PPT essay to demonstrate the following:

1. Depth of your research on the topic. 2. Offer a new thesis or provide new cases on the topic – the new thesis or the new cases must be

related to entrepreneurship and innovation. 3. Logically argue your thesis, with critical thinking and evidence to support your argument. 4. Actionable insights and recommendations.

The topics will be available at session#1 for selection.

II. Optional Text Books:

III. Grading

BMA5404 - COURSE SYLLABUS August 2016 3

Sessions Date/Timing Session Type

1 Aug 13 Sat 9 am – 12 pm Plenary – Introduction, Ideation, Team Forming

2 Aug 13 Sat 12 pm – 3 pm Plenary – The Lean Startup Guest speaker: Charles Kathrein, Jr.

3 Aug 20 Sat 9 am – 12 pm Plenary – Group Presentation on Validation

4 Aug 20 Sat 12 pm – 3 pm Plenary – Business Model, Beach Head, Market Sizing, Persona Development

5 Sept 3 Sat 9 am – 12 pm Group Learning Tutorial – Group A

6 Sept 3 Sat 12 pm – 3 pm Group Learning Tutorial – Group B

7 Sept 17 Sat 9 am – 12 pm Plenary – Group Learning on Validation

8 Sept 17 Sat 12 pm – 3 pm Plenary – Growth Hacking, Quantitative Validation

9 Oct 15 Sat 9 am – 12 pm Group Learning Tutorial – Group A

10 Oct 15 Sat 12 pm – 3 pm Group Learning Tutorial – Group B

11 Oct 22 Sat 9 am – 12 pm Plenary – Product Market Fit, Go-to-Market

12 Oct 22 Sat 9 am – 12 pm Plenary – Venture Ecosystem, How to Pitch

13 Nov 12 Sat 9 am – 12 pm Plenary – Judging panel of investors

14 Nov 12 Sat 12 pm – 3 pm Plenary – Lessons Learned

ACADEMIC HONESTY AND PLAGIARISM Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity and honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources. Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor. Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

1

National University of Singapore NUS Business School Department of Management and Organisation Module: BMA5407 Managing Human Capital in Organisations Semester 1, AY2016/2017 Module Instructor & Coordinator: Lowe Joo Yong

Module Description: This module discusses basic theories, concepts, practices and current issues in the management of human capital in organizations. Topics include recruitment & selection, performance management, compensation & benefits, learning & development, etc. It will also discuss the impact of globalization on human capital and cross-cultural management of human capital.

Learning Outcomes: After this module, students will have a better understanding of

1. the importance and challenges of good Human Capital management; 2. the full spectrum of the HCM functions and their interlinkages; 3. the impact of globalisation on HCM and cross-cultural management.

Modes of Teaching and Learning: This will be a small seminar class with a great emphasis on active participation and discussion. Teaching methods include lectures, experiential exercises, video-based learning, case studies, discussions and debates. This module emphasizes a self-directed approach to learning, and students are encouraged to initiate learning activities that will add value to the class.

Syllabus:

1. Introduction to Human Capital Management 2. Changing perspectives of HCM 3. Organisational strategy & culture and HCM 4. Employee relations & trade unionism 5. Recruitment & selection 6. Performance management 7. Compensation & benefits 8. Learning & development 9. Talent management 10. Diversity & global HCM 11. Emerging issues in HCM

2

Readings:

(a) Recommended reading: For each topic, the professor’s lecture materials will be the basic content for understanding the topic. However, at this level, students are expected to take the initiative to refer to whichever books or chapters that will further enhance their understanding of the topic. The following can serve as a basic reference text: Ghee Soon Lim, Robert Mathis & John Jackson (2010) Human Resource Management: An Asian Edition, Singapore: Cengage Learning Asia Pte Ltd.

(b) Supplementary reading (if applicable): Through the semester, the professor may also prescribe book chapters, articles, journal papers and case studies as and when required.

Assessment (%): 100% CA Learning Contribution 20% Group Project 50% Final Test (in class) 30%

Pre-requisite: N/A

Preclusion: N/A

ACADEMIC HONESTY AND PLAGIARISM Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity and honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources. Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor.

Additional guidance is available at:

http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct

Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

1

National University of Singapore NUS Business School Department of Management and Organisation BMA5420 Leadership in Asia Semester 1, AY2016/2017 Module Instructor: Dr William Koh

Module Description: This module aims to look at core concepts of leadership from a cross cultural perspective, with a heavy emphasis on leadership in Asia. We will examine the differences between leadership and management, the cultural context of leadership, personal attributes of the leader using the Big Five Personality Profiling, the many ways that leaders can exercise influence over his/her subordinates. We then examine the several major leadership models such as transformational leadership and servant leadership and see how a leadership practitioner needs to adapt these approaches in order to be effective in different parts of Asia.

Learning Outcomes:

A working understanding of the major cultures in Asia, sufficient for them to operate in this region effectively as a leader in any organisation.

Modes of Teaching and Learning: Class Discussion, lectures, case studies, exercises, video viewing

Syllabus: 1. What is leadership? What are the differences between leadership and management? 2. Understanding the organisational environment – The external business environment is fast changing and extremely competitive. We will examine its impact and implications on leadership behaviour. 3. Understanding the organisational environment – The cultural environment within which the organisation operates also impacts upon the way its leaders behave. Culturally, Asia is very different from Europe or the USA or Middle East. We will examine differences between Asia and the rest of the world, and intra-Asia differences between major Asia countries such as S Korea, Japan, China, India, Malaysia and Singapore. 4. We will examine the usual factors that impact leadership directly, such as personality and values; as well examine all the usual influence tactics that a leader can exercise.

2

5. We will then examine the major leadership theories such as Transformational Leadership, Servant Leadership and change management and see how and when these processes are affected by culture and the external environment.

Readings:

Compulsory/recommended reading: e-Reference Textbook: Daft, R., 2015. The Leadership Experience (6th edition), Cengage Learning

Assessment (%): Class participation: 20% Group project: 50% Midterm Test: 30%

ACADEMIC HONESTY AND PLAGIARISM Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity and honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources. Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor. Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

Pre-requisite:

N.A.

Preclusion:

N.A.

BMA5506 Product & Brand Management Semester I, 2016/2017

1

NATIONAL UNIVERSITY OF SINGAPORE NUS Business School Department of Marketing

BMA5506 Product & Brand Management

Lecturer: Robert SC Tan Email: biztscr@nus.edu.sg

Session: Semester I, 2016/2017

COURSE DESCRIPTION

This course is about understanding the basics of Product & Brand Management, & how the principles of Branding apply to the management of organizations – big & small. The premise of branding is examined, starting with a definition of Branding & what it constitutes to Marketing within the context of an organization. We will start with understanding the different types & uses of Branding. We will then focus on how brands are created & positioned, as well as using the principles to develop & differentiate the organization, its products / services. Throughout the course, case studies will be introduced to illustrate the principles & methods. Class participation & discussion is important. The course schedule is given on the next page.

GRADING

The individual assignments (x 4) will constitute 40 % of the grade, class participation 15%, Group assignment at the end of the course will constitute 45%

OFFICE HOURS

You can reach me any time by email and let me know a day in advance if you want to meet in my office. If you have a documented disability that will impact your work in this class, please contact me to discuss your needs.

ABOUT ME

I have been in the Advertising & Branding consultancy industry for over 30 years, having worked with Ogilvy & Mather (Managing Director), FutureBrand (Director) as well as local & regional marketing & consulting companies. Experience across various sectors including Corporate, Telecommunications, Hospitality, FMCG, Non-profit, Retail, Financial & Automobiles covering markets in the Asia Pacific region.

BMA5506 Product & Brand Management Semester I, 2016/2017

2

COURSE SCHEDULE

Week

Topic of Discussion Cases to Prepare / Research Articles

1 Introduction to course Introduction of Branding Principles & Product Management

Book(s) to read

2 Brand Development Process & Research Assignment 1

3 Brand Positioning/Values/ Attributes Assignment 2

4 Brand Architecture & Portfolio Management Class Discussion

5 Brand Core Elements Cases; Assignment 36 Brand Touch-points Cases; Assignment 4

7 Corporate, Product Branding. B2B, B2C Branding Cases

8 Brief for Group Assignment / Discussion

9 Application : Communications Cases10 Application : HR & Internal Cases

11 Application : Innovation & Product Development Cases

12 Application : New Media / Retail / Cases

13 Student-team presentation Group assignment

Students are strongly encouraged to participate during classes & share their industry & work experiences in relation to the materials & subject matter discussed. The above schedule of activities is indicative, but will not vary greatly.

Academic Honesty & Plagiarism

Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity & honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources.

Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor.

Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct

Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

 

 

NATIONAL UNIVERSITY OF SINGAPORE Nus Business School, Department of Marketing 

BMA 5524 MARKETING ANALYTICS 

Lecturer:  Practice  Associate  Professor  Ashok  Charan 

Email: bizakc@nus.edu.sg   

 

COURSE DESCRIPTION 

The digital age has fundamentally altered the manner we collect, process, analyse and disseminate 

market intelligence. Driven by advances in hardware, software and communications, the very nature 

of market research is rapidly changing. New techniques are emerging. The increased velocity of 

information flow enables marketers to respond with much greater speed to changes in the 

marketplace. Marketing analytics is timelier, less expensive, more actionable and more accurate, and 

it is increasingly infused into today’s business decision‐making processes. 

This course combines theory with practice, linking the classroom with the consumer marketing 

workplace. It employs Destiny©, a business simulator that mirrors the buying behaviour of 

consumers, to give participants the unique experience of running a virtual organization.  

Based on established analytic techniques and research methodologies, i.e. techniques that leading 

consumer marketing companies like P&G, Unilever and Coca‐Cola are using all the time, the module 

is designed to train marketing professionals in the use of market intelligence, and analytic 

techniques and research practices, for taking day‐to‐day marketing decisions, and developing and 

executing marketing strategies. 

To help practitioners become more effective marketing decision makers, the course imparts a holistic 

learning experience in business management. Pitched against one another, participants learn to 

implement effective marketing and business strategies, and develop an understanding of what 

drives store choice and brand choice. They become proficient in the use of market knowledge and 

financial data for day‐to‐day business decisions pertaining to product development, marketing, 

retailing, category management, trade marketing, financial and business strategy. And they learn to 

effectively use market intelligence and analytics in the real world context where corporations need 

to manage business portfolios, compete with other companies and build relationships with trade 

partners.  

Through this experiential learning programme, students acquire critical analysis and decision making 

abilities to prepare them to tackle the marketing and business issues they are likely to confront in a 

career in marketing. 

 

 

CURRICULUM 

1.  Brand Image   

(Chapter  1: Brand and  Brand  Image) 

Introduction.  o Participants expectations, course outline, team formation 

Brand, brand image and positioning o Tracking brand image  o Market segmentation, differentiation o Positioning and perceptual maps 

Destiny overview, Destiny project  

2.  Brand Equity   

(Chapter  2: Brand Equity) 

Brand Health Pyramid  

Measurement of brand equity 

Drivers of brand equity  

Destiny overview of templates and reports   

3.  Advertising  

(Chapter  12:  How  Advertising  Works)   

Brief history – the development of advertising 

How advertising works? Advertising models and theories 

Destiny: Decision I – Trial and Final  

4.  Advertising  Research  

(Chapter  15:  Advertising  Research) 

Copy testing, advertising tracking 

Advertising evaluation  

Ad evaluation exercise 

Millward Brown’s Awareness Index model 

Destiny: Decision II  

5.  Category Management  

(Chapter  22:  Category Management)  

Shopper Trends 

Category management  

Space management 

Destiny: Negotiations for Y3 (Q1 to Q4, Decisions III‐IV) 

Destiny: Decision III  

6.  Consumer  Panel   

(Chapter  7: Consumer  Panels) 

Inulas  

Consumer and loyalty panels 

Destiny: Decision IV 

 

 

7.  Market  Measurement    

(Chapter  19:  Retail  Tracking) 

Market measurement services (retail tracking), Sampling 

Negotiations (& purchasing orientation) 

Destiny business presentation – Manufacturers   

8.  Sales  and  Distribution 

(Chapter  21:  Sales  and  Distribution)  

Sales and distribution strategies 

Metrics/analysis to address imperatives in sales/distribution 

Exercise on analysis of business issues 

Destiny business presentation – Retailers  

9.  Price  and  Promotions   

(Chapter  16:  Price,  Chapter  17:  Promotion)   

Case discussion – Little People 

Price elasticity & pricing research 

Promotions evaluation, market response modelling 

Destiny: Negotiations for Y4 (Q1 to Q4, Decisions V‐VI) 

Destiny: Decision V  

10.  Product   

(Chapter  10:  Product  Design,  Chapter  11:  Product  Validation)    

Vizag 

Case Discussion – Jasmine and Ginko 

Conjoint analysis 

Parfitt Collin’s model  

BASES  

Destiny: Decision VI  

11.  Customer  Satisfaction   

(Chapter  6: Customer  Satisfaction and  Customer  Value) 

Hectomalt  

Customer satisfaction research  

12.  Qualitative  Research   

(Chapter  4: Qualitative Research) 

Hecto Grow 

Qualitative research  

13.  Concluding  Session  

Test  

New Media and Digital Marketing (overview) 

New Product Development (overview) 

 

 

 

CASE STUDIES  

Shopper Trends 

Inulas: Space Management of Breakfast Cereals  

Vizag – launch of a Concentrate Detergent Powder 

Hectomalt 

Hecto Grow 

These case studies provide an understanding of how marketers apply market research to respond to 

the challenges confronting them in the marketplace. 

 

 

ASSESSMENT 

Assessment is based on case studies, simulation exercise, test, and participation in class.  

  Case  Studies                         

Case Presentation (team)        20% (Students within teams required to analyse  one case study in depth, and present their  analysis to the class. 

Class  Participation (individual)        10% 

(Participation in case discussion will contribute  

to overall score in class participation) 

Destiny  Simulation (team)          40% 

(Evaluation based on the team’s performance and  

their business review) 

Test                30% 

(Multiple choice questions, short case study. You’ll be  allowed to use your books, laptop computers and  reference notes. No internet.) 

                

 

 

READING MATERIALS 

Course Textbook: Marketing Analytics – A Practitioner’s Guide to Marketing Analytic and Research 

Methods, Ashok Charan. (ISBN: 978-981-4678-57-5 for softcover, World Scientific Publishing Company) 

Presentations, case studies and course documents are posted on to the net. 

    

 

 

Academic Honesty & Plagiarism    Academic  integrity  and  honesty  is  essential  for  the  pursuit  and  acquisition  of  knowledge.  The University  and  School  expect  every  student  to  uphold  academic  integrity &  honesty  at  all  times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the  source,  or  falsification  of  information,  or  inaccuracy  of  statements,  or  cheating  at examinations/tests, or inappropriate use of resources.  Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The  New  Oxford  Dictionary  of  English).  The  University  and  School will  not  condone  plagiarism. Students should adopt this rule ‐ You have the obligation to make clear to the assessor which is your own work,  and which  is  the work  of others. Otherwise,  your  assessor  is  entitled  to  assume  that everything being presented for assessment  is being presented as entirely your own work. This  is a minimum standard. In case of any doubts, you should consult your instructor.  

 

Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentConduct 

  

Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/  

 

National University of Singapore School of Business Department of Marketing

BMA5525 Competitive Strategy for Start-ups and SMEs

Lecturer : Assoc. Prof. Lee Khai Sheang

Session : Semester I, 2016/2017

Course Objectives Compared to major corporations, start-up firms and small and medium enterprises (SMEs) often face resource limitations in competing for markets. As such, strategies for major corporations, which often assume implicitly that sufficient resources are available for strategy implementation, may not be applicable for start-up firms and SMEs.

This course focuses on formulating competitive strategy for start-up firms and SMEs, taking into explicit consideration of the limitations of such firms compared to major corporations. This course aims to: • Provide students an appreciation of the limitations that start-up firms and SMEs

face in competing for markets, and the implications of such limitations in formulating competitive strategies for start-up firms and SMEs.

• Introduce students to some competitive strategy frameworks, concepts and theories that relevant and/or unique for start-up firms and SMEs.

• Enhance students’ skills in applying general marketing concepts and theories to formulate strategies for start-ups and SMEs in competing for markets.

• Enhance students’ ability to develop more effective business and marketing plans that take into consideration the particular difficulties faced by start-up firms, and SMEs.

Students are expected to apply theories and concepts introduced in the course to solving business and strategy problems, through: • Evaluation of business start-up proposals, • Project work, in which students are required to do the following,

o Formulate a competitive strategy for a start-up or SME. o Prepare a comprehensive “Business Plan” for a start-up or SME. o Present their competitive strategy and business plan, and critique their peers’

presentations and proposals. Readings 1. Hand-outs: Journal articles and notes. 2. Lee K.S., G.H. Lim, and S.J. Tan (2002), Competing for Markets: Strategies for

SMEs, McGraw Hill. Software 1. BizViability Software – Assessing the Commercial Viability of a Start-up 2. BizPlan Software – Preparing a Business Plan for a Business Start-up 3. BizPitch Software – Making a 2-Minute Elevator Pitch

Assessment Method 50% - Group (Max 3 Members) with Peer Review Adjustment • BizViability Report : 5% • BizViability Presentation : 5% • BizPlan Report : 15% • BizPlan Presentation : 15% • BizPitch Report : 5% • BizPitch Presentation : 5%

50% - Individual • Critique (Oral) of BizViability Presentation : 10% • Critique (Oral) of BizPlan Presentation : 15% • Critique (Oral) of BizPitch Presentation : 10% • Participation : 15%

Total : 100%

Academic Honesty & Plagiarism

Academic integrity and honesty is essential for the pursuit and acquisition of knowledge. The University and School expect every student to uphold academic integrity & honesty at all times. Academic dishonesty is any misrepresentation with the intent to deceive, or failure to acknowledge the source, or falsification of information, or inaccuracy of statements, or cheating at examinations/tests, or inappropriate use of resources.

Plagiarism is ‘the practice of taking someone else's work or ideas and passing them off as one's own' (The New Oxford Dictionary of English). The University and School will not condone plagiarism. Students should adopt this rule - You have the obligation to make clear to the assessor which is your own work, and which is the work of others. Otherwise, your assessor is entitled to assume that everything being presented for assessment is being presented as entirely your own work. This is a minimum standard. In case of any doubts, you should consult your instructor.

Additional guidance is available at: http://www.nus.edu.sg/registrar/adminpolicy/acceptance.html#NUSCodeofStudentCo nduct

Online Module on Plagiarism: http://emodule.nus.edu.sg/ac/

Course Outline

Week Topic

1 (a) Introduction: Course Overview, Assessments, & Expectations

(b) Business Plan for Start-ups and SMEs Software: • BizViability Software – Assessing the Commercial Viability of a Start-up • BizPlan Software – Preparing a Business Plan for a Business Start-up • BizPitch Software – Making a 2-Minute Elevator Pitch

2 (a) Conventional Strategy Frameworks: Limitations for Start-ups and SMEs in Competing for Markets Readings: • Lee, Lim, and Tan (1999), Conventional Strategy Frameworks and Their

Applicability to SMEs: Lessons from a Case Study, Journal of Small Business Strategy.

• Chapters 1 and 2 in Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan (2002).

(b) Competing Under Resource Constraints: Competitive Strategy Framework for Start-ups & SMEs Readings: • Lee, Tan, and Lim (1999), Dealing with Resource Disadvantage: Generic

Strategies for SMEs, Small Business Economics, Vol. 12 (4), pp299-311. • Chapters 3 & 9 in Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan

(2002).

Case Discussion: Coffee Products (Malaysia)

3 (a) Finalize Group Formation

(b) New Product Launch by Start-Ups: Differentiation, Substitution, & Niching Strategies Readings: • Chapter 4 & 5 in Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan

(2002). • Williamson (1979), Transaction Cost Economics: The Governance of

Contractual Relationships, Journal of Law and Economics, Vol. 22 (2), pp233- 261.

Case Discussion: Optical Distortion (USA)

4 (a) All Groups: Business Start-up Project • Presentation of Business Idea • Approval & Confirmation of Business Start-up Proposal

5 Free-Riding as a Competitive Strategy for Start-ups and SMEs: Parallel Imports Readings: • Lim, Lee, and Tan (2001), Gray Marketing as an Alternative Market Penetration

Strategy for Entrepreneurs: Conceptual Model and Case Evidence, Journal of Business Venturing, Vol. 16 (4), pp405-427.

• Lee K.S. and Irene C.L. Ng (2007), An Integrative Framework of Pre-emption Strategies, Journal of Strategic Marketing.

• Chapter 6 in Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan (2002).

Case Discussion: Cycle & Carriage vs. the Parallel Importers (Singapore)

6 Competing Against a Giant: Market Penetration Strategy

Reading: • Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan (2002).

Case Discussion: Industrial Equipment Malaysia

7 All Groups: • Presentation of BizViability • Submission of BizViability Report

All Individuals: • Critique (Oral) of BizViability Presentation

8 New Product Market Entry and Development Strategies Reading: • Day, G.S., and P. Nedungadi, (1994), Managerial Representations of Competitive

Advantage, Journal of Marketing, Vol. 58 (Apr), p31-44.

Case Discussion: Agricultural Machinery Malaysia

9 Growth & Strategy Evolution: From Private Label to Own Brand Strategy Readings: • Chapters 3 to 8 in Competing for Markets: Strategies for SMEs, Lee, Lim, & Tan

(2002).

Case Discussion: Zheng Zhang Textiles Factory (China)

10 Auditing New Product Performance & Formulating Rejuvenation Strategy

Case Discussion: Rohm and Haas (USA)

11 Presentation Groups Scheduled: • Presentation of BizPlan • Submission of BizPlan Report

Critique Groups Scheduled:

• Critique (Oral) of BizPlan Presentation

12 Presentation Groups Scheduled: • Presentation of BizPlan • Submission of BizPlan Report

Critique Groups Scheduled: • Critique (Oral) of BizPlan Presentation

13 Presentation Groups Scheduled: • Presentation of BizPlan • Submission of BizPlan Report

Critique Groups Scheduled: • BizPitch Presentation

14 All Groups: • Presentation of BizPitch to Potential Investors

All Individuals: • Critique (Oral) of BizPitch Presentation • Peer Review Submission