The Ohio State University

BUSML 4251 Retail ManagementCourse Syllabus – Autumn 2017 / 1.5 credit hours

Course: BUSML 4251 – Retail ManagementInstructor: Dean E. Taylor, MBAOffice: Room 050 Fisher Hall Hours: As needed / by appointment onlyPhone: Home: (614) 895-8355 / Cell (614)859-9280Email: taylor.821@osu.edu / deantaylor1@icloud.com Class Dates: October 17th thru December 6th Class Time: Tuesday / Thursday 8:00 – 9:20 a.m.Classroom: Schoenbaum Hall – Room 209

OVERVIEW OF THE COURSE

Learners in this course will be provided with an introduction to the basic concepts that must be mastered in order to run a successful retail organization in today’s competitive market environment. We will review and discuss the distribution channels, key issues, and strategic decisions that retailers face as they design and effectively manage retail and e-tail operations. We will also examine how the history, and current trends, impact the future of retailing as it relates to location, distribution, personnel decisions, inventory control, customer service, and management of expenses and profit margins.

Prerequisites for this course include 4201 (750) / 4202 (758) / and BusMHR 2292 (BusAdm 499.01) or equivalent. Not open to students with credit for 753.

COURSE MATERIALS

The required course materials are listed below and are available at the OSU Bookstore as well as other retailers. Use of out-of-date editions of the text is not recommended, as all examination materials will be based on the current edition.

Retail Management, 9th Edition, Levy, Weitz, and Grewal; (McGraw Hill, 2014); ISBN 978-0-07-802899-1. Available in hard copy at the OSU Bookstore or other online retailers

E-text at a significantly reduced price is available from M-H Publishing thru Canvas. See instructions in the course homepage under the Modules links.

MH Connect access is required for every student in this course . See instructions for purchasing access in the course homepage under the Modules links. You will complete several learning modules on Connect during the course of the term.

All assignments for this course are listed on the course homepage on Canvas.

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COURSE OUTCOMES

This course is designed to achieve the following primary objectives for the students:

Learning fundamental principles, generalizations, and/or basic concepts of retail management. Developing a clearer understanding of the key strategic elements of the retail organization. Understand how the basic variables of the 4P’s of the marketing mix – price / product / place /

promotion apply to the retail environment. Acquiring skills in working effectively with others as members of a team. Develop enhanced critical thinking and communication skills.

At the completion of this course, each student will be expected to demonstrate measurable outcomes of course objectives by the following means:

Knowledge

1. Identify the basic definition and application of the 4P’s in a retail setting.2. Articulate a fundamental understanding of the key strategic issues faced by retailers. 3. Identify the key strategies that retail / e-tail organizations can use with regard to location

/ customer service / inventory control / and expense and margin controls.4. Identify factors that impact the potential success or failure of a retail / e-tail organization.5. Articulate how the basic marketing concepts are applicable across a wide range of industries and

career options.

Skills

1. Demonstrate effective techniques and strategies for developing an effective business plan.2. Implement strategies for developing key skills in critical thinking, analysis, and expressing perceptions and opinions in both oral and written communication. 3. Demonstrate effective team building strategies and engage in team building activities to effectively work together as a community. 4. Demonstrate the ability to recognize and address issues and/or trends that can significantly impact the future of retailing as we know it.

Behaviors

1. Appreciate the potential of retailers to impact and enhance various markets and audiences.2. Develop empathy for the challenges faced by others as well as a respect for their capacity to impact change. 3. Appreciate the implications of living in an increasingly diverse community and how different

messages can impact those communities.4. Value research, academic integrity, the acquisition of knowledge, and the obligation to share that knowledge.5. Students will attend and participate in various University and community activities.

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COURSE INSTRUCTIONAL POLICIES

Organization and Conduct of Class

This class will meet on Tuesday and Thursday mornings for approximately 80 minutes to review the assignments, concepts and materials. My assumption is that you will have already read the text and will be coming to class prepared to discuss your thoughts and/or position on the material. Note that lectures and presentations are a supplement to the readings rather than a rehash of what you’ve already seen. The real value of the course will come from our interactions and discussions on concepts and real-world examples. Accordingly, it is necessary for you to plan to attend class on a regular basis to keep up to speed. Attendance will be monitored and will count as an element of your final grade.

OSU e-mail

Both OSU and I will use your OSU email address for all official communications. It is vital that you access your OSU email on a regular basis to ensure that you will not miss any critical communications for which you will be held accountable. If you need help with the management of your email account, please contact the OSU IT Service Desk at (614) 688-4357.

Academic Integrity

All policies on academic honesty will be strictly enforced. Along with preparing for and attending classes, each student has the responsibility of promoting high academic standards. Academic dishonesty includes: (a) cheating; (b) fabrications and falsifications; (c) multiple submissions; (d) plagiarism; and (e) complicity in academic dishonesty. Proven cases of dishonesty may result in a grade of "F" in the course and will be referred for University disciplinary action consistent with the Student Code of Conduct.

Disability Services Statement

Students with a documented disability who wish to request reasonable accommodations should contact the Student Life Disability Services Office first to request accommodations, and then meet with their instructors. Accommodation arrangements should be made during the first two weeks of the semester. Students may request accommodations at any time during the semester, but please note: accommodations are not retroactive. Students must contact the Student Life Disability Services Office prior to every semester that accommodations are needed. The Student Life Disability Services Office is located in in 098 Baker Hall, 113 West 12th Avenue, Columbus, Ohio 43210. Their telephone number is (614) 292-3307, and their email is slds@osu.edu . The Ohio State University and its faculty are committed to helping you meet your individual needs, and to supporting your efforts for a quality education. Guidelines for Written Work

The Ohio State University has adopted APA as our official format for all written documents. All references, citations, and formats for submitted work must follow the APA standard.

All written work submitted will be graded on both composition and content. Submission of late work will be penalized. Assignments are due at the start of each class .

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Plagiarism will not be tolerated . Any work that is proven to be plagiarized will automatically receive a failing grade for that assignment.

Guidelines for Tests and Quizzes

Tests and quizzes will examine the student’s comprehension of the material read, as well as the information from class discussions and in-class activities. The format for tests and quizzes will be determined by the instructor, and may include any of the following elements: objective questions, short essays, long essays, oral presentations and/or team activities or projects.

Make-up tests and quizzes will be offered at the discretion of the instructor.

Guidelines for Project Teams

Each team project for this course should represent a culmination of the efforts of each individual member of the project team. No one person should be held responsible for the work assigned.

All team assignments should reflect the total collaboration and participation of its individual members.

Each member’s total participation becomes the responsibility of the entire team and will be reflected in the final grades.

You will participate in a process of collectively determining performance expectations for each other and for the team as a whole. You will subsequently be assessed by teammates as to the quality and consistency of your contributions and your record of meeting team expectations.

Counseling Services Statement

If you are experiencing personal problems, stress, study or time management difficulties, or mental health related concerns that you feel may adversely impact your ability to be a successful student at OSU, please contact the Office of Student Life Counseling and Consultation Service Office at (614) 292-5766 or email si-ccs@osu.edu to set up a free and confidential appointment.

Dropping the Course

University policies will be followed. Please consult with your academic advisor for exact dates for dropping a course without penalty.

Submissions of Assignments

All written work will be submitted to turnitin.com in an electronic format. No assignments will be accepted in any form other than electronic submission to the Drop Box. All work must meet requirements for APA documentation format and minimum length requirements. If a submission is deficient on either of these measures, it will not be accepted and will be considered late. No work will be accepted via email unless previously approved by the instructor. If you are submitting work late, bring it with you to the next class. All late submissions will incur a minimum 20% deduction from the total

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available points for that assignment. No submissions will be accepted after one week from the due date without prior approval from the instructor.Instructor Expectations

The classroom will be the place for interaction, discussion, demonstration, exploration and mastery of the concepts presented and discussed. Each of you brings an element of diversity to the classroom that can help to maximize the learning potential of all students, if we capitalize on this diversity. A few expectations for helping us to achieve this would include:

-- Preparation: Come to class with an understanding of the main points presented in the notes, and be sure that you have read all assigned materials. Also, strive to bring new        information to the discussion, things that you have found or personally experienced.

-- Attendance: I expect full attendance at all the class sessions.

-- Involvement: In class, I expect that you will be fully engaged and participate enthusiastically in all class discussions.

-- Reflection: Your course readings, films, classroom exercises, and discussions should challenge some of your perceptions of leadership and human behavior in a community. It will be helpful for you to write your reactions down as you note them so that can refer back to them at a later date.

Campus EmergencyIn the unusual event of a major campus emergency, course requirements, deadlines and grading percentages are subject to changes that may be necessitated by a revised semester calendar or other circumstances. To get information about changes in this course visit the course home page, contact me by email at taylor.821@osu.edu or call me at (614) 858-9280.

A Final Word About Classroom Etiquette

Respect for the pursuit of truth requires that we behave in ways that contribute to the collegial spirit: punctuality, preparation, reading the assignments ahead of class in order to be prepared for enthusiastic participation in discussions, careful study, academic honesty, politeness in arguments that may arise out of differing points of view, the use of our best critical thinking skills, and meeting deadlines, all facilitate this effort. Since we believe that something special goes on in the classroom, we are also expected to pay attention to what the instructor and our colleagues say, and to refrain from becoming a distraction to others. In this spirit, cell phones are to be turned off when you come into the classroom, unless you have a specific need to be contacted, and have obtained prior approval from the instructor. No iPod’s, MP3 Players, video games, or other electronic devices are to be turned on during the class period.

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GRADING SYSTEM

AA-

93-100%90-92%

Student illustrates outstanding performance. Has unusually sharp insight into material and initiates thoughtful questions. Sees many sides of an issue. Articulates well. Writes logically and clearly. Integrates ideas previously learned from this and other disciplines. Anticipates next steps in progression of ideas. Outstanding performance.

Example: “A” work should be of such nature that it could be put on reserve for all students to review and emulate. The “A” student is an example for others to follow.

B+BB-

87-89%84-86%80-83%

Student demonstrates a solid comprehension of the subject matter and accomplishes all course requirements. Serves as an active participant and listener. Communicates orally and in writing at an acceptable level for a graduate of the OSU curriculum. Excellent performance.

Example: “B” indicates a good quality of performance and is given in recognition for solid work; a “B” is considered a good grade and is awarded to those whose work is solid, but at a level somewhat less exemplary than the work submitted by the “A” student.

C+CC-

77-79%74-76%70-73%

Student produces a quality and quantity of work in and out of class that are average at best for a graduate of the OSU curriculum. Has marginal comprehension, communication skills, or initiative.Average performance.

D+ D D-

E

67-69%64-66%60-63%

0-59%

Student produces a quality and quantity of work in and out of class that are not in line with expectations when judged against the OSU Target Learning Outcomes.Below Average performance.

Student work that achieves this level of excellence does not qualify the student to gain credit for the course. Course work must be repeated.Failing or unacceptable performance.

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Retail ManagementBUSML 4251

Determination of Final Grade

ELEMENT POINTS %

MH Connect Weekly Exercises 150 27.2

Company Paper Team Report 100 18.2

Case Discussion team leadership 50 9.1

Class Participation 50 9.1

Group Project Written Report 100 18.2

Group Project Final Presentation 100 18.2

Total 550 100

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Note: For the 100 points awarded for the Team Project Presentation, 20 points of each team member’s score will be derived from the peer review input feedback forms.

MAJOR ASSIGNMENTS

MH Connect =Weekly Exercises (150 Total Points)Students will be required to purchase an access code for MH Connect with this course. During weeks two thru six of this course, there will be specific assignments to be completed along with a corresponding due date. All exercises will be worth a total of 10 points, and the total points available will be 100 points. All information needed for access, training, and setting up your MH Connect account is available on the Canvas homepage under the Modules section. All assignment grades will automatically be recorded into the official grade book. Assignments will have a time limit of one hour, but realistically you shouldn’t need anywhere near that amount of time. The only constraint is that once you log in, you must finish the assignment you are working on before you log out. Each assignment will have one attempt per student.

Company Paper Team Report (100 Points)Students in this course will be set up into teams for a group project. The first element of the group project will be due to the Drop Box at the end of Week 5, and will be worth a total of 100 points. Details for this project are as follows:

Purpose of the assigned paper is to provide students with the opportunity to apply teachings and learnings from the first 3 weeks of the course to a “real world” company. Students should select their preferred company by the second week of the course and identify their choice in the appropriate discussion board on Canvas. Students should then address the 7 questions/concepts listed below in a written paper of no more than 6 pages. 

Select a retailer of your choosing based on the following criteria: (1) company must be a publically traded company with revenues in excess of $500 million USD, (2) company must operate stores, and (3) company must operate in a least two retail channels.

1) How does this company “create” value? 2) Who is the primary competitor for this company (why are they primary competitors)? 3) What channels does this company operate in? 4) What challenges does the retailer face regarding multi-channel retailing (Omni-channel retailing)? 5) What is the company’s retail strategy? 6) Based on the key financial metrics, what do you conclude about the management path of the company and its performance relative to the primary competitor from question #2? 7) What type of retail locations does your company operate in and why does the retailer chose to operate in these locations? 

On an additional (7th) page, students should provide a chart comparing the following key financial metrics for fiscal 2015 for the chosen company as well as their key competitor: 

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Net Sales ($) Gross Margin ($) Gross Margin % Operating Income % Same Store Sales Inventory Turnover Return on Assets Managed Sales per store in operation

Students are encouraged to visit their chosen company’s store locations as well as competitor stores. Students are also encouraged to read their company’s latest Annual Report and 10k to understand the retailer more in-depth. Students are also encouraged to use onsite and remote resources of the OSU’s libraries (http://library.osu.edu). These resources as well as the required course text should provide you with sufficient resources to complete the assignment.

The grading rubric for this assignment will be as follows:

Organization and Presentationo Organization of details and logical flow of the presentationo Use of appropriate business style and verbiageo Clarity of details and points being made in the documento Effective writing style for a student of OSU

Content / Completion of Assignmento Depth of analysiso Quality of data assessment and synthesiso Quality and relevance of recommendationso Demonstration of Critical Thinking

Case Discussion – Team Leadership of Discussion (50 points)One of the most important competencies of an effective marketer or leader is the ability to review data and articulate a point of view on a specific issue. Throughout this course, we will be reviewing case studies, critical thinking exercises, and learning objective reviews. Each of your project teams will be assigned as a leader for one of the scheduled discussions. Your responsibilities will include the following:

Identify what the key facts are in the specific issue / case / etc. to be reviewed.

Provide a personal point of view, individually as well as a team position, on the issue at hand.

Lead the class discussion on the facts and how your team came to your conclusions.

Identify and discuss alternate positions from others in the class. Provide specific recommendations to be implemented based on your

position. Teams can present in any format. That means that you can all lead the

discussion, or you can assign one person to spearhead your efforts. Discussions are to take no more than 15 minutes.

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Leading the class discussions will be worth a total of 50 points for each team member. Score will be awarded according to the following rubric:

Organization and Clarity of Key Points in Presentationo Organization and flow of materialo All relevant facts and issues identifiedo Depth of analysiso Demonstration of critical thinkingo Details delivered in a clear and concise mannero Smooth flow and transition from one member to another

Leading Discussion and Handling Conflicting Ideaso Engagement of students o Handling of opposing points of viewo Utilization of key concepts discussed in class / assignmentso Providing a beginning / middle / end to the discussion

Class Participation (50 Total Points)

Student scores for class participation will come from three specific areas: class attendance, class engagement and participation, and engagement in the weekly discussion topics and other uses of the course BB. Students are expected to come to each class fully prepared to discuss their individual assignments as well as any other work indicated in the weekly planning guide for this course. Additionally, each student is expected to be an active participant in his or her respective project teams. All students will have the responsibility to provide feedback on the contributions of their teammates at the end of the course. Examples of the expectations for each of these areas are also included on the course homepage on Canvas. Note that attendance, while optional, will count toward your final grade.

TEAM PROJECT – PROJECTING THE FUTURE FOR YOUR TARGET RETAIL COMPANY

PROJECT OVERVIEW

The purpose of this team project is to build on the work already completed for week five, and give the students an opportunity to demonstrate their mastery of the basic concepts from the course. Students will continue to work in the same teams as before. This time you will demonstrate your mastery of the course concepts, the external market trends, and the issues faced by your target retailers. Your teams will think critically about the current status and influences, and then develop and articulate specific projections for your target company. You will develop a written proposal as well as a formal presentation on how you see the future unfolding for your retailer. Will they stay on the same track, will they be in business, what will be different, what changes will be needed to remain relevant in the retail environment of 2025. Be sure to consider the impact of demographics, technology, legal and regulatory implications, and pricing and profit structures. There is no right or wrong answer for any of the teams. I’m more interested in how

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you develop your positioning by critical thinking and synthesis than I am in the viability of your position. Be creative!

Guidelines for this project will be as follows:

In the first two weeks of the course, all students will be randomly assigned to a Project Group. Final group size will depend on the total enrollment for the course.

Each group will then select their target retailer to be used for all team elements of the group projects.

Once your teams have been assigned and you have become familiar with each other, you will then be expected to do the following:

Meet as a team and develop a working agreement for how the assignment is to be addressed, specific responsibilities for each member, and expectations for performance.

Select a target retailer. Complete the work required to deliver the report for week 5. Assess the current trends / issues / opportunities / implications that surround

your target retailer’s business model. Think critically on how all these elements will work together over the next

few years. Articulate a recommendation for what the future holds for your retailer. Identify what they will need to do to remain relevant in the future market. Define your specific growth strategy. Develop a written Strategic Marketing Plan Proposal that outlines your

recommendation according to the guidelines that appear later in this document.

Develop a Marketing Plan Recommendation Presentation to be delivered in the final classes of the semester. Guidelines for this also appear later in this document.

A note about your groups.

The group is to work together to complete this project. All members of the group will receive the same grade for both the written

element as well as the formal presentation. Groups are free to divide up the work in any manner they deem appropriate. Each team member will provide a formal team evaluation on the

participation of the members. These will be due on the day that your group presents to the class.

I will make every effort to give your teams time at the end of class periods to meet and catch up on planning and/or address any issues. You should also plan to meet outside of class time to complete this assignment.

Team Project Part 1 - Final In-Class Presentation (100 points)

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Once all research and development work has been completed, all groups will prepare a presentation for the class to be delivered in the final weeks of the class. Group presentations guidelines will be as follows:

Format for presentations (slides / presenters) will be at the discretion of each group.

Presentations are to be 12-15 minutes, no longer. Groups should be prepared to address questions from the class and/or the

facilitator. Final copy of the digital file is to be turned in on the day each group

presents. Presentation materials should include at a minimum :

o Introduction of team memberso Overview of the key project details

Retailer selected / rationale Summary of the factors from week 5 and strategic opportunities

o Specific market opportunity recommended What does the future hold for your retailer? What do they need to do / change / adjust to stay relevant in

2025? Rationale for your recommendations?

o Supporting Details as needed SWOT analysis if appropriate Supporting info from research

o Marketing Strategy Recommendations as appropriate Target Audience Positioning Pricing Strategy Distribution Strategy Marketing Communications Strategy Social Media implications

Grading Rubric for the presentations will be as follows:

Organization and Presentationo Organization of details and logical flow of the presentationo Use of appropriate business style and verbiageo Effective use of technologyo Smooth and logical flow from one member to anothero Clarity of details and points being made in the presentationo Overall management of the presentation

Content / Completion of Assignmento Depth of analysiso Quality of data assessment and synthesiso Quality and relevance of recommendationso Poise in dealing with questions and comments

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Team Project Part 2 – Written Strategic Marketing Plan Recco (100 points)

As each group completes their work on this project, they should compile a written Strategic Marketing Plan Recommendation that reflects the sum of their research, analysis, and critical thinking on this project. Guidelines for the written paper are as follows:

Final paper is to be organized into the following elements:o Cover Page with title, team members, and target companyo Executive Summary (brief 2-3 paragraphs summarizing your specific

recommendations with just a hint of supporting details. This sets up the reading for executives and focuses them on what you are about to say).

o Market Analysis and Evaluation (brief 2-3 pages) Current Situation Competitive Environment Overview of key success factors in the market 2025 Channels and Logistics

o Success in 2025 Recommendations (4-5 pages)o Conclusions / Summary (1 page)

The grading rubric for the written assignment will be as follows:

Organization and Presentationo Organization of details and logical flow of the presentationo Use of appropriate business style and verbiageo Clarity of details and points being made in the documento Effective writing style for a student of OSU

Content / Completion of Assignmento Depth of analysiso Quality of data assessment and synthesiso Quality and relevance of recommendationso Demonstration of Critical Thinking

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BUSML 4251 Retail ManagementClass Schedule (Tentative)

Tuesday / Thursday 8:00 – 9:20 a.m.Schoenbaum Hall – Room 209

Week 1 Course IntroductionOct 17 Professor / Student Intros

Overview of MH Connect Exercises Section One – The World of Retailing

Chapter 1 and Chapter 2Importance of RetailingCreating Value for CustomersTypes of RetailersProduct versus Service RetailingTypes of Retail OwnershipCase Discussion – Whole Foods (DET)Discuss Project Team Assignment

Week 2 Section One – The World of Retailing Oct 24 Chapter 3 and Chapter 4 Multi-Channel Retailing

Retail Buying ProcessImpact of Technology on Retailers

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Types of Buying DecisionsInfluences on Retailer and Consumer Buying DecisionsThe Value PropositionCase Discussion – Build a Bear (Team 1)Project Team Target Retailer Selections

Week 3 Section Two – Retailing StrategyOct 31 Chapter 5 and Chapter 6 Retail Market Strategies

Building Retail Growth OpportunitiesFinancial Strategies for RetailersHow to Analyze Financial Strength for RetailersKey Performance Targets for RetailersCase Discussion – Hot Topic (Team 2)Project Team Updates

BUSML 4251 Retail ManagementClass Schedule (Tentative)

Tuesday / Thursday 8:00 – 9:20 a.m.Schoenbaum Hall – Room 209

Week 4 Section Two – Retailing StrategyNov 7 Chapters 7, 8, and 9

Retail LocationsStrategies for Selecting Retail LocationsStore Area DensityHR Management in RetailingEstimating Store Sales for a Specific LocationCase Discussion – Big Payoff from Small Towns (Team 3)Project Team Progress Reports

Week 5 Section Two – Retailing StrategyNov 14 Chapter 10 and Chapter 11

Information Systems for RetailersSupply Chain Management in RetailingCustomer Relationship Management

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Company Paper Team Projects DueCase Discussion – CVS (Team 4)

Week 6 Section Three – Merchandise ManagementNov 21 Chapters 12, 13, 14, and 15

No Class on Thursday November 23 – Thanksgiving Holiday Merchandising StrategiesInventory ManagementSales ForecastingBuying Process and ProceduresRetail Pricing StrategiesRetail Media ElementsCase Discussion – Staples (Team 5)

BUSML 4251 Retail ManagementClass Schedule (Tentative)

Tuesday / Thursday 8:00 – 9:20 a.m.Schoenbaum Hall – Room 209

Week 7 Section Four – Store ManagementNov 28 Chapters 16, 17, and 18

Store Management PracticesCustomer ServiceCustomer Relation Management (CRM)Service RecoveryCase Discussion – YouTube and HSN (Team 6)

Week 8 Pulling It All Together Dec 5 Project Team Presentations on Tuesday

No Class on Thursday December 7Presenting Teams Final Papers DueFinal Check on Student Learning Objectives

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Course EvaluationsProject Team Evaluations DueFinal Review Student Questions and Comments

Week 9 Final Exam on December 12 / Team PresentationsDec 12 Senior Grades due to Registrar December 14

Final Grades due to Registrar December 18

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