planassess.ba.ttu.eduplanassess.ba.ttu.edu/Reports/Grad Prog Review/Appen… · Web viewYour success in this course depends upon your willingness to actively participate. Thus,

Rawls College of Business 2003-2008 Graduate Program Review

Texas Tech University G: Syllabi of Cross Listed Courses 251

APPENDIX G:SYLLABI OF CROSS LISTED COURSES





















STUDENT MANAGED INVESTMENT FUND PRACTICUMFinance 5327

Course Syllabus

Professor: Dr. Jeff MercerOffice: BA 905 Phone: 742-3365Email: [email protected] page: http://jmercer.ba.ttu.edu Office hours: Open and by appointment

Readings/Resources: Investment Analysis and Portfolio Management, Reilly and Brown, Thomson-Southwestern 2008.

Standards of Practice Handbook, CFA Institute (9th Ed.), 2005.

Managing Investment Portfolios: A Dynamic Process, Maginn, Tuttle, Pinto, McLeavey, CFA Institute, 2007.

Investment Valuation, Damodaran, 2005.

Business Analysis and Valuation, Palepu and Healy, Thomson-Southwestern, 2008.

Equity Asset Valuation, Stowe, Robinson, Pinto, McLeavey, CFA Institute 2007.

Value Investing. Greenwald, Kahn, Sonkin, and van Biema (John Wiley & Sons 2001).

Course Overview: This course focuses on the management and investment strategies of an endowment, including investment analysis, asset allocation, portfolio monitoring, evaluation, and rebalancing. Students are responsible for making investment decisions for approximately $1.5 million of Texas Tech University Foundation assets.

The purpose of this course is to provide students an opportunity to learn in a real world environment, gain a thorough understanding of the security analysis and portfolio management processes, and to provide students the opportunity to interact with business professionals.

http://jmercer.ba.ttu.edu/

mailto:[email protected]



Learning Outcomes: With this course, students are expected to: (1) understand the importance of committing to high standards of professional conduct and adhering to the industry’s code of ethics; (2) understand the various aspects of company research and analysis, security screening and selection, and portfolio management; (3) develop a basic philosophy/investment thesis for security selection incorporating constraints or guidelines imposed by the endowment’s investment policy and the faculty advisor; (4) recognize the implications of the efficient markets hypothesis and reconcile these with investment research regarding investment “anomalies”; (5) become “fluent” in the use of Bloomberg Professional data service and other data sources used in the industry.

Assessing Learning Outcomes: I will assess your understanding of the learning outcomes through 1) class discussion and participation, 4) written research reports, 5) oral presentation of research reports, and 6) quizzes/exams.

Although you will be working side-by-side with undergraduate finance majors, your work load will be significantly higher, and your work product will be graded more stringently, than theirs. The expectation is that you will complete approximately 1 ½ times as many research reports (and hence presentations) and will be required to lead the analyst teams and classroom analysis and discussion more often.

Course Structure and Grading: Your grade in the course will be determined using the following weights:

Attendance (mandatory) and Participation 30%Written Reports and Presentations 50%Quizzes/Exams 20%

Your course grade will be:“A” if your average score is 90% or higher.“B” if your average score is from 80% - 89%.“C” if your average score is from 70% - 79%.“D” if your average score is from 60% - 69%.“F” if your average score is less than 60%.

“+” or “-” will be used if you are within two points of the breakpoints.There will be no “extra credit.”

Missed Classes: If you need to miss a class for a legitimate reason (see the university’s absence policy in the Academic Regulations section of the Undergraduate Catalog), you will not be penalized only if you inform me at least three days before the scheduled absence that you are unable to attend class.



A student who intends to miss class because of a religious holy day must make the intention known to me prior to the absence. For more information regarding policy for observance of religious holy days see http://www.depts.ttu.edu/opmanual/OP34.19.pdf .

Scholastic Dishonesty: Students need to be familiar with university policy concerning scholastic dishonesty. See http://www.depts.ttu.edu/opmanual/OP34.12.pdf.

Accommodation for Students with Disabilities: Any student who, because of a disabling condition, may require some special arrangements in order to meet course requirements should contact Dr. Mercer as soon as possible to make necessary accommodations. Students will need to present appropriate verification from Student Disability Services (AccessTECH). No requirement exists that accommodations be made prior to completion of this approved University process. For more information see http://www.depts.ttu.edu/opmanual/OP34.22.pdf.

Attendance: You are expected to attend every class session. Class sessions will be a mix of lecture and discussion/presentation. If you arrive to class late, or must leave early (and please don’t make either of these a habit), show courtesy to me and your classmates by entering and leaving as discreetly as possible, and by sitting near the door. It is your responsibility to obtain copies of any handouts that are distributed in class. While I welcome the opportunity to help students outside of class during my office hours, I will not “re-lecture” the material if you miss class without a legitimate excuse.

Succeeding in this class: You should gauge success by the amount of material you truly understand and retain from what is taught in this course. Steps to success:

1) Carefully read all assigned materials including the supplemental readings below.2) Attend every class period. Nothing correlates more highly with bad grades than

absenteeism. 3) Take good notes. Most likely, you cannot remember everything I say. Write it down.4) Be an active learner and participant during class time. The more you engage your brain

during class, the less time you will have to spend outside of class to fully understand the material.

5) Make sure you understand the big picture so that you are able to move on to the detailed material. If you find you are confused about something, ALWAYS . . .

6) Ask questions. I strongly encourage you to ask questions. 7) Treat your classmates with respect and demand much of yourself and them.

Supplemental Readings: As a business student, you should be reading the major financial press daily. The Wall Street Journal (http://online.wsj.com/home/us) is probably the most widely read outlet by finance professionals. Two additional important sources geared for investment professionals are Barron’s (http://www.barrons.com) and Fortune (http://www.fortune.com/fortune).

http://www.fortune.com/fortune

http://www.barrons.com/

http://online.wsj.com/home/us

http://www.depts.ttu.edu/opmanual/OP34.22.pdf





One of the many benefits of regular exposure to these and other outlets is that you will gain confidence about your understanding of finance and financial markets, outside of your “textbook learning,” because you will understand recent and important developments “on the street” and you will better understand the language in which finance professionals communicate.



Course Topics:

Bloomberg Training

Ford Equity Services – EPIC Training

The Chartered Financial Analyst Program

Ethical and Professional Standards/Fiduciary Duty

U.S. Securities Laws

Registered Investment Advisors (RIAs)

Foundations and Endowments

Investment Policy Statements and the Portfolio Management Process

Behavioral Finance

Efficient Markets and the Role of Analysts

Efficient Markets and Anomalies

Value vs. GrowthMomentum EffectReversal EffectSize EffectP/E, P/B, etc. EffectSmall-Firm-in-January EffectNeglected-Firm EffectLiquidity EffectBook-to-Market EffectAccrual AnomalyUpgrades vs. DowngradesInfluence of DividendsInfluence of R&DEarnings Surprises

Screening Methodologies using Bloomberg

Global Industrial Classification System (GICS)

Indexing and Tracking Error

Risk and Performance Attribution

Tearsheets and Equity Research Reports

Equity Valuation Models



MANAGEMENT 5379/4376: ENTREPRENEURSHIP Summer I, 2009 BA269 MTW 2:00p -4:50p

Instmctor: Dr. Ron Mitchell Office Hours: BA 1117 Tuesday 12 :30p -1 :30p, and by appointment Telephone: 742-1548 (BA Office) E-mail: Ronald .mi [email protected]

Purpose:

The purpose of this course is to take you from having only ordinary thinldng skills into having extraordinmy entrepreneurial thinldng skills. The classes and assignments in this course reward the initiative and focus that lead to increasing the critical thinking capabilities you will need to create new value wherever your career takes you.

In this course you will learn to think critically and effectively about discovering entrepreneurial opportunities. More than many other courses, and consistent with entrepreneurship itself, what you get in this course is directly related to what you invest in it. Welcome to Management 5379/4376!

Learning Support Materials

Required Texts and Readings:

1. New Venture Experience, Karl H. Vesper; available through the RCOBA copy center; 2. The Venture Analysis Standards (VAS) 2000 Workbook, and "NVT" website. The VAS 2000 Workbook is available through the RCOBA copy center. (Note: To access the fully analytical functions of the NVT website, you must present your receipt to the instmctor so that you may obtain your personal login and password.); 3. Clarion Optical (Harvard Case), available through the following website; http://harvardbusiness . orglsearchl clarion%25 200pti callO.

4. Mitchell & lvforse 2005 Chapter readings (to be handed out in class); and

5. Two journal mticles (available at www.ronaldmitchell.org, lIDder the course: MGT 5379/4376 using the class password, and listed under "Supplemental Journal Articles") that are intended to be very helpful in "thinking about your entrepreneurial thinking":

.a. "Real Options Reasoning," McGrath, 1999

.b. "Unskilled and Unaware," Krueger & Dunning, 1999.

(Please note: The texts and reading are intended to be supplemented by additional materials selected to meet student interests and learning requirements that will be either emailed, handed out in class, or announced and posted to the above website.)

Additional Analysis Tools:

1. The New Venture Template, a computerized venture assessment tool. Available online at http://www.ivey.uwo.ca/newventure / (as part of Venture Analysis Standards 2000 Workbook purchase per note above) . Please present your receipt to the instructor to obtain your login and password as soon as possible because you will need this password for the proper completion of assignments.



2. Personal learning style tools for use in preparing your personal learning plan with the instructor (optional: just close the 3 questionnaires and come to Office Hours):

% • Learning Choices Guide, available at www.ronaldmitchell.org % • Cognitive Temperament Sorter, available at www.ronaldmitchell.org % • The New Venture Profile, a personal venture expertise assessment tool. Available at http://www.ivey.uwo.caJnewventurel. (Click on "User Area," enter your V AS 2000 name and password, select Profile Questionnaire [second from bottom of the list that appears], and then use "print screen" to select the results that appear on the screen, to save and bring to our meeting, and paste them into a Word File.)

Supplemental Readings & e-Lectures: % • NVT e-lectures (Access at www.ronaldmitchell.org, along with copies of "overheads" for download) Financial Projections Readings: a. o Internal Rate of Return b. o Net Present Value c. o Financial Projections Other readings: d. o Cross-cultural Cognitions e. o NVT article f. o It's not Luck reading and Constraints Analysis Method

Assignment Support Materials: % • Worksheets for Clarion Case % • Accounting Skills Diagnostic questionnaire % • Mad Mitchell Motors Case % • Transaction Analysis Worksheet % • Model B-Plan % • Business Plan Development Guide % • Equity Growth Analysis Examples % • Ziglar Selling Skills % • Consulting Script Example (How to get a consulting contract) % • NVT Practice Cases

Puzzles, Challenges and Techniques (to be included as time permits): % • WBI Transcription Analysis % • Widget 2 LBO (Leveraged Buyout) Living Case

Course Description: MGT 5379/4376

Management 5379/4376 introduces concepts and skills associated with wealth creation. In this course we examine the thought-based processes and strategies that individuals who act and think entrepreneurially, use in creating, growing, and revitalizing firms. We therefore help students to acquire the knowledge base and problem solving skills used by individuals who are able to create wealth because they understand how to create new value using their minds. Thinking-based new value creation operates from this premise: that the keen observation that comes only from "knowing" what to lookfor, and the specialized problem solving skills that comes only from deliberate practice, lead to reducing or eliminating the socioeconomic obstacles preventing value from emerging within free flow ofhuman socioeconomic interactions/ relationships. This knowledge set includes the steps in the venture creation process that lead to "entrepreneurial discovery," and the skills to be developed include critical thinking, and venture analysis. (Note: Prerequisites are required as provided in the TTU Catalog.)



Course Approach and Purpose

The overall approach and purpose of this course is practical-through encouraging deliberate practice of key skills (please see diagram below)-to help you to increase your entrepreneurship capabilities-specifically your "mental Software" (Diagram: E.l. a. & b.: knowledge and problem solving skills)-as a part of your experience at TTU. In Entrepreneurship the instructor provides the "content" (D.3.) and also provides class, group, and individual coaching as these needs are communicated by you. From there, you are responsible for your own learning, including the "intensity" (D. I.) and "duration" (D.2.) of your "practice" (your study and involvement).

General Model of Expertise & Skill Acquisition

A. Extemal Social Factors: 1. Parental/spousal support 2. Coaches 3. Role model 4. Cultural SUPPOli 5. Financi.11 SUppOli 6. Competing demands B. llltemal Motivation I. Introversion/extroversion 2. Anention sp"n 3. Repetition tolerance 4. Competitiveness

C. Extemal Information FactOl'S 1. Discipline organization (clubs. national stlUcmre, rating system) 2. Dissemination channels (iOUlll"ls, newsletters. magazines. books, databases)

I~ r--

E. Cognitive System

I. Mental Software a. Knowledge Base b. Problem Solving Processes



D. Deliberate Practice 1. Intensity 2. Dm'ation 3. Content

- ! 2. Mental Hardware a.

MemolY Capacity b. Speed of Processing c. Learning Rate d.

Forgening Rate

1

F. Entrepreneurial EX1Je ltise (High Pet101'm'U1ce Results) Adapted trom Chamess et. "1.. 1996

MGT 5379/4376: Preliminary Class Schedule & Topic Flow -Summer I, 2009 (UPDATED 6-02-09)

# Date Topic & Activities Critical Thinking FocusfReadings Due: Assignments Due (Note 1):

I 5-27

· Introductions & Icebreaker Exercise · Class menu choices · Entrepreneurial

Discovery Flowcharting: From opportunity creation to discove,y Idea Search Creativity

session using the · "unrelated novelty"

approach: Living Case

KNOWLEDGE & COMPREHENSION · New approaches to opportunity creation. discovery and recognition (interactive discussion wI .ppt)

· NONE · Class develops options

menu: 1ll3kes living case selection · Class launches opportunity search · Discovery groups formed · Syllabus

handed out 2 6-01

· Opportunity Generation Living Case Group

Presentations · COllrse Primary Concept

Development · Syllabus discussion (as

needed)

KNOWLEDGE & COMPREHENSIGN · Unskilled and Unaware · MM: Preface +

Searching · Vesper: Idea Search

· Student teams hand in initial product!

service concepts for living case · Pos.sible Quiz on Critical Thinking, and Readings (including the Syllabus)

3 6-02

· i\Iarc Gunderson, E~T specialist ,isit to class

APPLIC A nON & ANALYSIS

· Students come to Office Hours to

discuss learning style questionnaires (from

website) (participation credit) · Quiz on

Syllabus · Flowch3rt I: Searching

4 6-0:1

· Screening -NVT Concepts KNOWLEDGE & COMPREHENSION · VAS 2000 Workbook (6 NVT videos) · M!VI: Screening · Vesper: Screening

· Possible Quiz

5 6-08 · Screening -NVT Practice APPLICATION & ANALYSIS · l\TVT Practice Case Presentations



6 6-09

. Financing: Clarion Case Workshop (Draft

worksheets-NO EXCEL) . MMM Demo Case

(as needed)

APPLICATION & ANALYSIS · Clarion

Case · Financial Analysis Readings

· Clarion pencil copy worksheets · Onice Hours leal1ling style questionnaires

(participation credit) · Flowchart 2:

Screening 7 6-1 0

· Planning: Constraints Analysis (Possible

guests: Living caSe participants in the analysis process)

KNOWLEDGE & COMPREHENSION · It's Not Luck Reading · MM: Planning

· Vesper: Planning

· Possible Quiz · Instructor provides

mid-tenn participation estinlate

8 6-15

· Financing: Debt and Equity · Clarion

Case Discussion

KNOWLEDGE & COMPREHENSION · MM: Financing · Vesper: Financing

• Flowchart 3: Planning · Clarion

Optical Case Write-up · Possible Quiz

9 6-1 6

· Business Valulltion: Class Menu Choice

APPLICA n ON & ANALYSIS · Muterials provided (see .ppt on web)

· Ortice Hours leal1ling style

questionnaires (participation credit) · Flowchart 4: Financing

10 6-17

· Setup · Critical Thinking Transaction

Solutions I KNOWLEDGE & COMPREHENSION · MM : Setup + Ch 7 Advanced · Vesper:

S~tup · Real Options Reasoning Reading

· Possible Quiz

II 6-22

· Startup · Critical Thinking Transaction

Solutions II

KNOWLEDGE & COMPREHENSION · MM: Startup + Ch 7 Advanced · Vesper:

Startup

· Transaction Solutions-draft assignment

· Flowchart 5: Setup • Possible Qniz

12 6-23

· Allalysis of all LBO: Class Mellu Choice APPLIC A nON & ANALYSIS . All

materials provided ill class

· Students come to Oftice Hours to

discuss leal1ling style questionnaires from

website (participation credit) · Flowchart

6: Startup 13 6-24

· Growth KNOWLEDGE & COMPREHENSION · Selling and Consulting

· Flowcharts 7 & 8: Growth + Master · Transaction Solutions Assignment

6-24 (Optional) TAKE HOME FINAL SYNTHESIS AND EVALUAnON Final exam due by beginning of class.

Note 1: Due dates indicated are the tinal due date; no late assignments accepted without prior permission. PLEASE NOTE: Because attendance and timely arrival in class is an explicit expectation, students should be aware that in some circumstances, an orally announced schedule change may be the only means of communicating refinements in schedule as they become necessmy. Students are responsible to check the MGT



5379/4376 area ofwww.ronaldmitchell.org at least weekly for any updates in the Syllabus.

Course Outline

The foregoing Class Schedule table outlines the topic flow for the course, which follows the steps in the venture creation process that leads to "entrepreneurial discovery," and the critical thinking, and venture analysis skills to be developed.

Expected Learning Outcomes

As a result of successfully completing MGT 5379/4376, a student should be able to do the following:

1. 1. Understand and be able to explain how thinl<ing-specifically entrepreneurial critical thinking-shapes opportunity discovery and wealth creation using the concepts and relationships taught in the course; 2. 2. Develop critical thinking skills through readings, discussion, and assignments, to become familiar with and utilize entrepreneurship concepts; 3. 3. Engage in the opportunity discovelY process such that s/he can: 4. 4. Utilize cases as data to "bridge" course concepts to real-world sinIations; 5. 5. Integrate the value-creating aspects of other university classes into a big-picrure view of entrepreneurial elements that are part of the diverse subject matter available to snldents in their university experience.

a. Generate business ideas through the searching process taught in the course; b. Effectively screen these ideas to produce viable vennll'es using the NVT screening

method at a thorough level of understanding such that they are able to serve (based on interest) as vennlre screeners for the West Texas Coalition for Commercialization and Innovation (WTCIC);

c. Understand the basics of new venture financial forecasting; be able to prepare effective financial projections for a vennu'e; and be able to prepare analyses essential to tbe financing section of the business plan;

d. Become familiar with the problems, solutions, and some of the skills needed in new vennlre planning, senlp, and startup phases;

e. Understand and be able to effectively apply the Transaction Cognition Analysis approach to assessing ongoing business vennlres to identify strategies and methods for additional new value creation (including understanding and demonstrating the difference and benefits of "first-order" v. "second order" business thinl<ing)

f. See the vennll'ing process through the "eyes" of other entrepreneurial snldents and guests where possible; being able to take their experiences and identify the lmderlying entrepreneurial patterns such that snldents enhance their own learning and benefit.

Assessment of Learning Outcomes

Course Format:

This course consists of core components, and optional activities that permit the course to be "tailored" to fit each student as much as possible. These are as follows:



CORE ASSIGNMENTS 1) Adhere to Course Ground Rules (below).

2) Together with fellow students or individually serve in a satisfactory manner as a RESOURCE P ANELI PERSON when called upon. Randomized assignments will be made in class on the day of discussion.

3) Understand the core concepts in the course (e.g., achieving >75% on quizzes and "satisfactory" on participation demonstration opportunities).

4) Earn a "satisfactory" (S) on all expectations, projects/ assignments, as follows:

% • Engagement: effective participation, including attendance and contribution to open-possibilities activities (individual) % • Thinking: All flowcharts (8) (inclividual) .• Doing: a. o Living case product concept presentation and write-up (group) b. o NVT practice case presentation (group) c. o Clarion Optical case write-up (individual) d. o Transaction Solutions assignment (individual)

Ground Rules: OPTIONS 1) None.

2) Your own level ofpreparation and emphasis.

3) Final exam* on class sessions or other concepts or theory developed during the semester. Rules : Open book, open notes, talk to anybody BEFORE you start to write, BUT ONCE STARTED, DO YOUR WRITING ALONE AND WITHOUT CONSULTATION.

4) Some choices of possibilities topics and activities as decided at the beginning of the semester by the class "menu-driven" approach. Any "incomplete" (I) may be resubmitted once for reassessment, before a permanent "unsatisfactory" (U) is recorded for that assignment.

(Exception: The instructor may, where a submitted assignment clearly shows little effort, disregard for the principles taught, or inattentiveness, record an "F " for such assignments, as a safeguard to prevent "gaming the system, " which will automatically trigger the mandatory final and resulting grade reduction. Please hand in fullv prepared assignments on time to avoid this unfortunate outcome.)

l . Academic integrity is essential. Please adhere to the standards of academic integrity included as a part of this syllabus. 1. 2. The personal opinions of the instmctors on a given issue are irrelevant to your grade. It is poor reasoning, inconsistent application of relevant principles, or lack of full engagement (doing only the minimum you think is necessmy to get a grade) which is costly in entrepreneurship, not disagreement.



2. 3. Since this program uses the experiential-and case study-methods, attendance is essential. Attendance also affects our assessment of your participation credit as explained more fully below. 3. 4. The readings are also essential preparation for each class. Concepts from the readings and details from the cases included therein, will form the foundation of class discussion, and will help you to distil your Qill! reasoned position with respect to key principles of entrepreneurship. Pmt of your grade for the course will consist of presenting text and case materials in impromptu question periods, panels, and responding to questions from other students and the instmctors.

Grading System:

As in most entrepreneurial settings, rewards come as a result of excellent performance as compared to opportunities available. Because this course is designed for you individually, difficulties arise in grading objectivity unless common standards are set at the outset. Accordingly, grading for this course is done using the "grade-distraction minimization" approach. Core requirements will be graded either "Satisfactory," or as "Incomplete," meaning that the assiglU11ent must be improved to achieve a "Satisfactory" designation, or as "Unsatisfactory," where given opportunities do not repeat. Core assignments and the Final Exam are provided as pmt of this Syllabus. Please Note: Late aSSignments will generate "U" and will require a makeup aSSignment plus the original to qualify jor grading.

EvelY sUldent who receives "Satisfactory" on ALL core requirements will be entitled to the grade of

"B+". No final exam will be required. For sUldents who desire to obtain a grade higher than B+ for the course, a final exam oppotUmity will be offered. Students who take the final can move their grade "up" as follows:

Grade on Final Grade** in the Course

A+ A+

A A

A-AB+ B+

B B+

B-B+

C+ B

C B

C-or below B

** Applies ONLY if the ENTIRE Core is fulftlled at the "Satisfactory" level. Those who do not complete all core requirements with a grade of"Satisfactory" will be required to take the final examination or fail the course. In fairness to the other sUldents who meet all Core Requirements: if you m-e required to take the final because you have not satisfactorily completed the Core Requirements, the final grade will be reduced by 10 percentage points = I fll11letter grade (please see grading scale below) for every three (3) or part of three (3) groups of "U" assignments, to determine your course grade. Letter grades for purposes of the final will be determined strictly upon points earned as a percentage of the total available according to the Faculty of Business Grading Scale.

Grading Scale:



This course is stmctured on the 100 grade point scale. Consequently the final exam is graded out of a total of 100 points, with the "+" and "-" breakpoints being set within each range approximately in thirds, but with some room for adjustment according to relative performance. On this scale:

90 100 A-, A, A+ 80-89 B-, B, B+ 70-79 C-, C, C+ 60-69 D

Below 60 F

Graduate-level Grading:

Because the College has asked that Management 4376 be combined with Management 5379 to accommodate exceptionally high student demand, it has been necessary to define the expectations for graduate-level credi t.

Pursuant to the unanimous consent of the graduate students (Management 5379) in the meeting held after class to establish these standards; it was agreed that all assignments handed in by graduate students will be held to the higher standards of conceptual development expected in graduate school. Students understand that this agreement will be for this semester only to acconullodate the College's request; and will also mean that every element of the class will be held to a higher standard of preparation and instmctor grading and feedback; including in-class participation.

Participation Expectation:

Your success in this course depends upon your willingness to actively participate. Thus, each student has the responsibility to fully participate; and the instmctor has the responsibility to ascertain the level of participation. The participation core requirement grade is determined subjectively by the instructor based upon observation, and your initiative in contributing to the success of the course for all concerned. Participation assessment (e.g., including but not limited to the level of ability to answer instmctor questions and respond helpfully to other students' questions, initiating relevant discussion both in-and out of class as observed by the instmctor (e.g., in case discussions), participation in group projects (e.g., Cases and presentation), on-time presence for class sessions, effective utilization of instmctor office hours, engagement in extra participation credit opportunities.

Attendance Expectation:

% • Because this class develops key course requirements through extensive discussion, and the introduction of many new ideas and concepts verbally using real-world in-class applications that cannot be replicated without being there, students are expected to attend all classes. Accordingly each unexcused absence will result in a 5 point reduction (112 letter grade) of the % • Submitting the same paper or pOliions thereof (including past work given credit for other classes) for more than one assignment, without discussions with and the approval the instl11ctor(s) involved (Cross disciplinary assignment excluded). % • Falsification ofattendance records by any means whatsoever (including signing someone else's name on an attendance sheet). % • Logging on to any course-related website using someone else's name and password. % • Giving any class-wide password to non-class-registered person(s).

All provisions of the TTU Civility in the Classroom guide also apply. Please see



www.studentaffairs.ttll.edll/yPsalpublications/civility.htm for more information about this topic online.

Students with Disabilities:

Any student who, because of a disability, may require special arrangements in order to meet course requirements should contact the instIuctor as soon as possible to make any necessary accommodations. At this time the student should present appropriate verification from AccessTECH. No requirements exist that accommodations be made by the instmctor prior to student completion of this approved University procedure.

About your Instructor

Before becoming a professor, Dr. Mitchell gained substantial practical experience in the business world. He is a CPA, and worked for Deloitte et al. He has been a CEO and turnaround specialist for several finns, both large and small. He is also an entrepreneur, has taken one company public, and started and sold other vennll'e. He has been a consultant to a variety of vennlres, and brings all of this experience into the classroom. While some who "can't do" may resort to teaching; Dr. Mitchell believes that it is even more important that those who have "been there, and done that" should also give back in the classroom and in the university setting. To that end, Dr. Mitchell is also a leading scholar in his field; and the following paragraphs provide a short synopsis of some key events that bear on the quality of instruction available to students in this class.

In 2005 Dr. Mitchell moved from the University of Victoria in Canada, to Texas Tech University, where he is a Professor of Entrepreneurship, and holds the 1. A. Bagley Regents Chair in Management, in the Rawls College of Business. While at the University of Victoria he received several distinguished research and teaching awards, and helped to design and implement an entrepreneurship program that won the Entrepreneurship Division Innovation in Pedagogy Award, and the USASBE Model Undergraduate ENT Program Award. He is a leader in developing the latest cognition-based applications for entrepreneurship teaching, and is on the national faculty of the Experiential Classroom Program, where many new ENT Professors come for training.

Professor Mitchell's research includes work in entrepreneurial cognition, ENT and stakeholder theory, and cross-culnn'al entrepreneurship. He won the 1995 Heizer Award for his dissertation, and has published in the top journals in his tield. From July 01'2000 through May 01'2005, he held the Francis G. Winspear Chair in Public Policy and Business at the University of Victoria. He is a specialist in entrepreneurial cognition, global entrepreneurship, vennlre management, conunand to market system transition, and stakeholder theory; and he researches, consults, and lecnlres worldwide.

final grade. More than 2 unexcused absences will result in the instructor submitting a failing grade for you in this course.

• As provided in the TTU Catalog, excused absences are: (l) granted at the sole discretion of the instructor except for religious observance or officially approved trips [Please see TTU OP34.06(2)(b)-trips by student organizations do not qualify as officially approved], (2) expected to be arranged and properly documented prior to class, and (3) require that the student remain fully responsible for any material that is missed. (Note: Because of the l.mique nature of certain real-world-learning experiences, where an absence causes irreplaceable loss of learning as determined by the instructor, students are expected to evidence their responsibility for missed material by proposing and producing a replacement project, which they must defend as equivalent to the instlUctor and/or a panel of their peers who did participate in the missed experience. Students who participate in such panels will receive extra learning credit.)

Academic Integrity:

As stated in the TTU Catalog:

"It is the aim of the faculty of Texas Tech University to foster a spirit of complete honesty and a high standard of integrity. The attempt of students to present as their own any work that they have not honestly performed is regarded by the faculty and administration as a



serious offense and renders the offenders liable to serious consequences, possibly suspension" (p. 49; OP34. 12)

Snldents are therefore expected to review carefully the following points regarding academic integrity and group projects. Acts of academic dishonesty include, but are not limited to, the following:

% • Using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words. % • Duplicating a table, graph or diagram, in whole or in pari, without referencing the source. % • Paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g. personal conll11w1ication, ideas from a verbal presentation) including instructors, without referencing the source. % • Copying the answers of another student in any test, examination, or take-home assignment. % • Providing answers to another student in any test, examination, or take-home assignment. % • Taking any unauthorized materials into an examination or tenn test (crib notes). % • Impersonating another student or allowing another person to impersonate oneself for the pW'P0se of submitting academic work or writing any test or exan1ination. % • Stealing or mutilating library materials. % • Accessing test prior to the time and date of the sitting. % • Changing name or answer(s) on a test after that test has been graded and returned.

8. How should Jerry and Iris split the equity?

All case write-ups should be typed (l2 pt. Font 1" margins), with the exception of the worksheets, which should be completely legible. I0 page maximum excluding the 5 worksheets.

5. Transaction Solutions Assignment

The definition of entrepreneurship using transaction cognition-based entrepreneurial thinking goes as follows:

% • To use transaction cognitions (competition, promise, and planning mental models & scripts) % • To organize exchange relationships (among the work, other persons and creating entities) % • That utilize the sources o/market impetfections (specificity, opportunism, and bounded rationality) % • To create new units o/value.

This definition creates a matrix: a Transaction Analysis Worksheet (available on the website; see MM Handout p. 363) that permits an entrepreneur to create "solutions big enough for the problems" of finding an opportunity in an imperfect situation and creating new value.

Assignment:

In this assignment you are asked to find a case in the business/ entrepreneurship press (e.g. BUSiness Week; Entrepreneur Magazine, Inc., Fast Company, Fortune j\;fagazine, etc.) where a venturing problem was solved (a lot of new value units were created) and to apply the matrix analysis method to this success to explain how and why it occurred. The idea here is that by doing this you will dig beneath the story to see how a big solution was discovered relative to the problem, and to see how opportunity was recognized and fostered to create new value by increasing transaction units. Then explain what you learned, and see if you can see an underlying pattern in that situation that can be generalized to future situations that you might encounter.



Please hand in:

.a. A completed worksheet;

.b. A copy of the article from the business/ entrepreneurship press; and

.c. A three-paragraph analysis that explains what you learned, the possible underlying pattern in that situation, and a way you can see to generalize this pattern to future situations that you might encounter (Please remember that there is a student example in the MM Handout on pages 364 -369.)

Of course, as is customary with organizations that make real-world information available to the University, all of this information is subject to a confidentiality agreement. The agreement that we have made with the Wayne Brown Institute, reads as follows, and as a member of the class and member of one of the groups, you are expected to be bound by the following:

CONFIDENTIALITY AGREEMENT

I understand that as a member of MGT 5379/4376, that I have been authorized to view and to utilize FOR MY OWN LEARNING certain expanded executive summaries and company presentation materials that were presented at prior Venture Capital Conferences sponsored by the Wayne Brown Institute. I also understand and agree that for good and valuable consideration, the nature and sufficiency of which I hereby acknowledge, that upon my printing or downloading ANY of the case information, I shall HOLD THIS INFORMA nON IN COMPLETE CONFIDENCE, NOT FURTHER REPRODUCE this information, NOR IN ANY MANNER DIVULGE the information that I acquire thereby in connection with the NVT sample cases, except to the extent that it becomes necessary to enhance my learning and is directly applicable to my assignments, exams, or in-class presentations.

4. Clarion Optical Case

The Clarion Case is designed to give you experience in: (l) the technique and approaches to structuring a deal; and (2) the financial effects of deal structure. As a preparation for our discussion, you will be asked to fill out and hand in as a pan ofyour case analysis, FIVE worksheets that help you to summarize:

% • An "all debt" scenario,

% • An "all equity scenario,

• The real estate transaction,

• The share of equity required by Rebel Ventures, and

• Returns to Jeny and Iris.

You are expected to work ON YOUR OWN on this assignment, so that you can get a clear idea of your capabilities in working with the numbers side of venture deals. The following questions should be answered in your analysis:

1. 1. For the "all debt" scenario: (1) How did you arrive at R&D expense, (2) Why is there no investment accounted for? (3) What are the key risks here? 2. 2. For the "all equity" scenario: (l) Is R&D expense linear? (2) How did you arrive at investment expenditure? (3) Can Clarion really remain in the same building after investing over $17 million in equipment and a 50-fold increase in sales? (4) What are the key risks here? 3. 3. Compare the debt v. equity scenarios. 4. 4. Evaluate the real estate transaction: (1) calculate what cash flow is required from sale in 7 in



order to give Gnmd a 30% return; (2) Use Exhibit 3 (p. 295) to determine what sale price is required to net the amount computed in (1) in cash; (3) Analyze the sources ofGnmd's return; 4 Evaluate the stmcture of Gnmd' s deal. 5. 5. Evaluate the deal from Rebel Ventures' point of view. 6. 6. Analyze Jerry and Iris' returns. 7. 7. Should Jeny have listened to Bill Lawrence?

3. NVT Practice Case Presentation

To help you to be able to assess ventures in a manner consistent with the majority of other trained venture evaluators, you will be given the opportunity to assess 5 expanded venture executive summaries using NVT technology available on the web and the method described in the VAS 2000 Workbook.

This assignment falls in the category of DELIBERA TEL Y PRACTICING needed skills to help you to attain viable venture planning cognitions.

The Assignment:

Several "expanded executive summary" company business plans are posted in Adobe Acrobat on www.ronaldmitchell.org. Of these, we shall use 3 of them as our NVT practice cases:

1. e-uy 2. TmVision 3. MyComputer.com 4. LocalBargains 5. MediConnect

In addition to the expanded executive slUl1mary I have also posted the ACTUAL POWER POINT PRESENTATIONS that each company gave at a fairly recent venture capital conference.

Each NVT Practice case will have a randomly selected student team assigned as follows:

1. A team to "role play" as the actual management team; to present the power point VC Conference presentation to the class and a screening panel (15 minutes), and 2. A team to act as the screening panel, whose job it will be to question the management team (5 minutes), and also to report to the class on the scores on the 15 variables that they give tbe company (5 minutes). Overhead slides will be helpful here, perhaps with blanks to fill in at the last minute in order to see your colleagues' presentation first, before making your final rating.

You will have the opportunity to serve on BOTH a management team, and a screening team. 60% of the participation grade allocated to this assignment will be based on your management team presentation and question period; 40% of this grade will be based on your screening panel performance.

The assignments to case preparation will be made with the help of Ms. Random N. Table, my unbiased teaching assistant, on or before June 3, 2009. Prior to the presentation date ofJune J2th, ALL students are expected to read EVERY executive summary so that they arefamiliar with, and can respond to in-class questions from either the panel or the instructor, and can eaSily use the preparation time to produce an excellent result.

Each presenting group should have their PowerPoint presentations on flash memory ready to bring up on the computer in class. Screening panels should bring overhead slides or PowerPoint slides of their analysis of the management team! company. (Note: Management teams may revise the original presentations as they see fit to improve the presentation and adjust it to the team; but you should not change the basic nature of the business or the key elements of the presentation or the executive summaries; otherwise it will only create confusion.)



This is a role-playing exercise that is designed to increase both your analytical and presentational skills.



CORE ASSIGNMENTS:

(Note: You should start immediately on these assignments because the semester is compressed into only 4 weeks)

1. Opportunity Generation Living Case Assignment

To free you from the constraint of having limited opportunities, this course provides an opportunity generation session as a foundation. As you will learn in class, creative thinking has 4 modes:

Mode J creative thinking: A left-brain skill; 110 creativity occurring; exemplified by 11onfluidity in thinking. 97% of individuals operate at this level according to several years data gathered in the Eureka Ranch project.

Mode 2 creative thinking: The skill needed to ID missing combinations. 65% of individuals utilize this skill sporadically.

Mode 3 creative thinldng: Causal serendipity skill from sense-making experimentation using unrelated novelty techniques. Only 1 % of individuals utilize this skill.

Mode 4 creative thinldng: Accentuated sagacity skill, where new idea flow is virtually continuous and individuals possess sufficient alertness that ideas can be captured as they come to consciousness (e.g. entrepreneurial intuition (e.g., Mitchell, Friga, & Mitchell, 2005).

Mode 4 creative thinking requires long experience in an industry. However, as explained in class, Mode 3 creative thinking is possible to learn and begin to apply immediately.

Your group assigmnent (using the method taught in class, and the student examples handed out in class as an anchor point) is to create a new product concept for the organization in the Living Case as described in class (so take good notes).

In the next class your group should be prepared to:

% • Make a 15-minute professional-level presentation at least three new concepts for this organization complete with graphics, and % • Hand in a professionally done proposal document (at least: transmittal letter, explanation of your work product, the 3 concepts, your recommendation) with the three concepts presented in proper form (see student examples).

2. Thinking Flowcharts

One of the key tools for people to go from ordinary students to entrepreneurs is to learn how to "think about your thinking." The term "metacognition" describes this new skill.

In MGT 5379/4376 students have the opportunity to build a "portfolio" of thinking flow charts that will help them in future to have a readily available "map" of the venture creation process as they conceptualized it in 2009. (The handouts from the instructor [Morse, Mitchell readings] contain examples of how one student responded to this opportunity, and you are invited to use these to "prime the pump" for your own entrepreneurial thinking.)

Your explanation and flow chart is due at the beginning of the day following its discussion in class as noted in the Schedule. Please remember: Late assig1U11ents will receive no credit and will automatically trigger the mandatolY final.



OPTIONAL TAKE HOME FINAL EXAM (Start any time; work throughout the semester; consult the instructor as often as you like;

due June 24, 2009 beginning of class)

This exam has two questions of equal value, 50 points each. From the 3 questions offered please ANSWER ANY TWO:

Question A: Thinking

In Entrepreneurship education, we believe that exams are only relevant if they synthesize learning. Accordingly, this portion of the final exam for the semester requires that you synthesize concepts from class sessions with other concepts or theory developed during the semester (see question following).

The nIles for this question are as follows: Open book, open notes, talk to anybody BEFORE you strut to write, BUT ONCE STARTED, DO YOUR WRITING ALONE AND WITHOUT CONSULT ATION (open book and notes still OK), unlimited time, typewritten/word-processed mandatory including diagrams, etc. and appendices (Double spaced, 12 point font, 1 inch margins), and NO MORE THAN 16 PAGES FOR THE ENTIRE ANSWER TO QUESTION "A" including all diagrams, figures, attachments and references (one staple in the corner is OK--don't bother with fancy covers; use the space as you see fit). These nIles attempt to approximate an entrepreneurial situation, in that the problem is not in the memorization or the volume of your output, but rather in which voices to heed, which models to apply, and how to express your ideas within scarcity constraints.

Using all the materials available to you (the course outline, course packet, your notes, assignments that you have competed, extra reading that you may have done or may yet do):

Assume that three islands have been discovered hidden away in the middle of the ocean for all these years. Each island has developed differently as follows:

Kl7owilall: Has no bounded rationality; only opportunism and specificity;

Trlls/elllall: Has no opportunism; only bounded rationality and specificity; and

Sallleo/solllole: Has no specificity; only bounded rationality and opportunism.

Please explain (50 points):

J) What the people on each island thought/believed; and how this cognitive stance affected how life in general worked;

2) What these conditions meant for entrepreneurship on each of these islands,

3) When these three islands decided to merge and become one nation, what had to happen to create a national economy, and

4) How your understanding these concepts will enable oppornl11ity for you throughout your career. Question B: Doing

This question is your opportunity to demonstrate an advanced understanding of the skills and techniques taught in this class.

The niles for this question are as follows: Open book, open notes, talk to anybody BEFORE you start to write, BUT ONCE STARTED, DO YOUR WRITING ALONE AND WITHOUT CONSULTATION (open book and notes still OK), no time limit except the hand-in deadline, typewritten/word-processed mandatory including diagrams, etc. and appendices (Double spaced, 12 point font, 1 inch margins), and NO MORE THAN 18 PAGES FOR THE ENTIRE ANSWER TO QUESTION "B" including all diagrams, figures,



attachments and references (one staple in the corner is OK--don't bother with fancy covers; use the space as you see fit). These rules attempt to approximate an entrepreneurial situation, in that the problem is not in the memorization or the volume of your output, but rather in which voices to heed, which models to apply, and how to express your ideas within scarcity constraints.

Using all the materials and techniques available to you (the Syllabus, reading, your notes, your assignments, extra reading that you may have done or may yet do):

1) Identify 5 products that have the potential to net you personally (pre-tax) $50,000 and write product concepts using the concepts and tools taught in this class (10 points).

2) Choose one of the products that you identified in #1 above, present your financing approach, and explain how it would vary for each of the harvest strategies (l0 points):

a. Hold

b. Sell: Publlc

c. Sell: Privately 3) Use the article (The sultan a/Silicon Valley) , and the terminology and methods oftbe

NVT to explain the situation ofIntel at the time the article was written (10 points). 4) Choose an online news or magazine article that describes the present condition of a

company that is of interest to you, submit a printout of the article with your exam (for professor's reference) including the e-source and do the following (5 points each): a. Explain the successes and failures that you can identify using the terminology and

methods of the Transaction Solutions Approach.

b. Based on your TS analysis, make recommendations for future action. 5) Take a situation of interest to you and prepare a constraints analysis: list ofUDE's,

Current reality Tree with constraints identified, and Future Reality tree, given your analysis of which constraints are fixed and which are variable (10 points).

Question C: Thinking and Doing

The rules for this question are as follows: Open book, open notes, talk to anybody BEFORE you start to write, BUT ONCE STARTED, DO YOUR WRITING ALONE AND WITHOUT CONSULTATION (open book and notes still OK), unlimited time, typewritten/word-processed mandatory including diagrams, etc. and appendices (Double spaced, 12 point font, I inch margins), and NO MORE UlAN 16 PAGES FOR THE ENTIRE ANSWER TO QUESTION "C" including all diagrams, figures, attachments and references (one staple in the corner is OK--don't bother with fancy covers; use the space as you see fit). These rules attempt to approximate an entrepreneurial situation, in that the problem is not in the memorization or the volume of your output, but rather in which voices to heed, which models to apply, and how to express your ideas within scarcity constraints. Theretore, using all the materials available to you (the course outline, course packet, your notes, assignments that you have competed, extra reading that you may have done or may yet do), please address the following questions.

Context: Entrepreneurs act for society to assemble new combinations of resources that have sufficient value (powers) to satisfy the wants of individuals. In this respect, an entrepreneur has perhaps the highest level of personal agency (freedom to act "for oneself') in the world.



Assume the following:

I. There is too little peace, too much poverty, too little art, too much environmental waste, too little faith, too much cultural hegemony, too few new ventures, and too much un-(or under-) employment.

2. Your aspiration is therefore to: Increase "sustainable value agency" by decreasing "transaction costs," with these and related terms being defined as follows:

a. Sustainable value agency: Fully absorbed (all costs paid right now in the present, or futureneutral) consequential action (actions with consequences) to yield artistic, culnu'al,

economic, environmental, social, spiritual, etc. benefits.

b. Transaction costs: The costs of running a socio-beneficial (e.g., socio-artistic, socio-cultural, socioeconomic, socio-environmental, socio-spiritual) system.

c. Transaction: An individual creates works tor others. d. Sustainable: Infinitely continuing.

e. Value: Experiences and/or objects of worth.

f. Agency: To be free to act for oneself.

Question C -Part 1: How can entrepreneurs use their expertise to effect change in the world by improving at least three of the conditions in Assumption #1 above? (Please select at least three, but you are not limited to three only !(You wish to address more.)

The terms in this question are to be defined as follows:

.a. Entrepreneur: An individual or team of transaction creators who use transaction cognitions (as defined in this course) to organize exchange relationships (transactions, as defined above) that decrease the transaction costs (as defined above) that come from bounded rationality, opporn1I1ism, and specificity (as defined in this module) to yield new value (as defined above). .b. Expertise: The skill needed to be an entrepreneur (as defined above).

Question C -Part 2: Please create a diagram that illustrates how the process you have identified in your previous answer can be accomplished without off-loading transaction costs now or in the future to anv other svstem (artistic, cultural, economic, environmental, social, spiritual, etc.)?

(An example of "off-loading transaction costs to another system" might occur where a business creates economic value in the present by consuming future environmental value through damage to the environment.)

Parts I and 2 will be equally weighted for grading purposes.

For Question B: The sultan of Silicon Valley (A rough paraphrase of a Magazine article in the mid-1990's)

Andrew Grove's Intel is the world leader in chips

In the late 1980's Andrew Grove was racing around the nation like a computer-age Cassandra, delivering his grim message of North America's imminent hightech demise to anyone who would listen. In a typical speech, the Hungarian-born president and CEO of ship maker Intel Corp. warned that Japan Inc. would soon steamroller the computer industry and turn America into a third-rate "technocolony." At one point, he even mailed a secondhand violin to the government; enclosed was a memo blasting the administration for "fiddling while Silicon Valley burned."

Things have not turned our quite as Grove predicted they would. In a stunning turnaround, North American computer-chip makers have surpassed their Japanese rivals and captured the lead position in the global semiconductor business. And the firm that has led the high-tech charge is none other than Grove's Intel., The



Santa Clara, Calif. based chip maker leapt past Japanese heavy-weights NEC and Toshiba to become the worlds No. 1 semiconductor supplier. With its near monopoly on leading-edge micro processors-chips that provide the brainpower to most personal computers Intel's revenues jumped more than 20 percent in 1992 to $5 .8 billion, while its net income rocketed 30 percent to more than $1 billion. Data-quest, a respected market-research firm, has dubbed Intel "the most powerful semiconductor firm in existence. "

Leader of the pack. Intel has not just leapfrogged its Japanese rivals. Together with software colossus Microsoft, the firm has also inherited venerable IBM's decades-old role as the computer-industry pacesetter and become a dominant technology stock. Since the first of the year, Intel's share prices have climbed a heart-stopping 20 percent, while IBM has watched its stock flounder.

The similarities between Intel and Microsoft don't stop there. Both were nurtured early on by the once powerful firm they now overshadow: IBM, which chose them to supply key components for its new personal computer more than a decade ago. As with Microsoft Chairman William Gates, Grove's hardball tactics have earned him the animosity of many competitors. Jerry Sanders, CEO of Advanced Micro Devices, for example, alleges that Intel restrains competition. And Intel, like Microsoft, is being investigated by the Federal Trade Commission for possible anticompetitive business practices.

But what about all that talk about America's becoming a Japanese techno-colony? IN his humble cubicle on the second floor of Intel 's no frills Silicon Valley headquarters, Grove reflects on his earlier gloomy prognostications: "Perhaps I was overly pessimistic," he admits. But Grove and other could hardly have foreseen the confluence of events-including a brutal Japanese recession, a boom in computer sales and a renewed US-Japan chip pact-that is responsible for America's recent resurgence in this critical technology. An besides, in Grove's own oft repeated phrase, "Only the paranoid survive."

Survival is something the 56-year-old Grove knows a thing or two about. At the age of 20, Andras Grof fled his native Hungary during the 1956 uprising, headed to America with just $20 in his pocket and studied engineering. A dozen years later, Grove (he changed his name a couple of weeks after his arrival) started Intel with Gordon Moore, now chairman, and the late Robert Noyce-the visionary co-inventor of the first integrated circuit, which helped create the modern electronics industry. Intel also commercialized the dynamic random access memory chip, or D_RAM, the tiny silicon ship that forms a computer's memory.

But in the mid 1980's, Grove's survival instincts were again put to the test, as cutthroat competition from across the Pacific brought Intel to its knees. The firm racked up more than $200 million in losses in 1986; it was forced to mothball a half-dozen plants and eliminate more than 7,000 jobs. In a high-stakes gamble, Grove decided to abandon the memory-chip business to the Japanese and shift the firm's focus to more sophisticated microprocessors. "We put all our eggs in one basket, and it turned out to be a winner," says Grove.

Intel Inside. Today, there is hardly an IBM-compatible computer on the market that doesn't have at least one Intel chip inside. Intel now controls almost 70 percent of the $5 billion market for microprocessors. According to Data-quest, approximately 3 out of 4 computers shipped this year will contain Intel's flagship chip. The firm will produce an estimated 30 million of the superfast chips this year alone; double last year's volume. Intel will also introduce its next-generation chip, a virtual mainframe computer on a chip.

For competitors, keeping up with Intel is by no means a cheap proposition. Under Grove, the company outspends all other semiconductor manufacturers, domestic and foreign alike. This year Intel will plow a staggering $2.5 billion-or about 42 percent of revenues-into plant improvements and research and development. The competitive strategy is simple: by the time a product such as an earlier generation chip matures and is subject to competition from lower-cost producers, Intel is already out with the next generation chip. For example, rival Advanced Micro Devices has captured more than 50 percent of the market for the last generation chip that Intel pioneered, but has yet to begin production of a chip that mimics Intel's fast selling present generation chip. For the foreseeable future, Grove plans to introduce a new family of chips every few years-a breakneck pace that will clearly make Intel an expensive moving target for clone makers.



Nor has Grove hesitated to play legal hardball with the competition, hauling several clone makers into court over the years. For example, Intel's virtual lock on the market for present generation chips in the near term was ensured when a comt ruled in its favor in a long-running copyright infringement suit against Advanced Micro Devices. Grove is also taking his battle against the clones to the airwaves, advertising Intel products on national television commercials in a bid to create brand recognition. What's more, Intel has slashed prices by more than half on the present generation chip and plans to unveil dozens of new variations of the microprocessor to keep would-be cloners off balance.

In addition to warding off the clones, Intel faces other daunting challenges. One potential threat is the joint venture between Apple Computer and IBM to create new chips and software for desktop computers. And the RISC-for reduced instruction-set computing chip may also be a threat. Motorola, IBM, and Fujitsu are among the companies building these.

SYLLABUS APPENDIX -MGT 5379/4376 A BRIEF EXPLANATION OF CRITICAL THINKING BASED ON CONCEPTS FROM BLOOM'S (1956) COGNITIVE DOMAIN:

The six levels within the cognitive domain identified by Bloom, go from the simple recall or recognition of facts, as the lowest level, through increasingly more complex and abstract mental levels, to the highest order which is classified as evaluation. Verb examples that represent intellectual activity on each level are listed here. 1. Knowledge: arrange, define, duplicate, label, list, memorize, name, order, recognize, relate, recall, repeat, reproduce state. 2. Comprehension: classify, describe, discuss, explain, express, identify, indicate, locate, recognize, report, restate, review, select, translate, 3. Application: apply, choose, demonstrate, dramatize, employ, illustrate, interpret, operate, practice, schedule, sketch, solve, use, write. 4. Analysis: analyze, appraise, calculate, categorize, compare, contrast, criticize, differentiate, discriminate, distinguish, examine, experiment, question, test. 5. Synthesis: arrange, assemble, collect, compose, construct, create, design, develop, formulate, manage, organize, plan, prepare, propose, set up, write. 6. Evaluation: appraise, argue, assess, attach, choose compare, defend estimate, judge, predict, rate, core, select, support, value, evaluate.

QUESTION TYPES BASED ON BLOOM'S TAXONOMY:

Teachers tend to ask questions in the "knowledge" category 80% to 90% of the time. These questions are not bad, but using them all the time is. Try to utilize higher order level of questions. These questions require much more "brain power" and a more extensive and elaborate answer. Below are the six question categories as defined by Bloom .

• KNOWLEDGE o remembering; o memorizing; o recognizing; o recalling identification and o recall of information

Who, what, when, where, how ...? Describe

• COMPREHENSION



o interpreting; o translating from one medium to another; o describing in one 's own words; o organization and selection of facts and ideas

Retell...

• APPLICATION o problem solving; o applying information to produce some result; o use of facts, rules and principles How is... an example of...? How is... related to ...? Why is .. . significant?

• ANALYSIS o subdividing something to show how it is put together; o finding the underlying stmcture of a communication; o identifying motives; o separation of a whole into component parts What are the parts or features of... ? Classify ...according to ... Outline/diagram .. . How does ... compare/contrast with ... ? What evidence can you list for... ?

• SYNTHESIS o creating a unique, original product that may be in verbal form or may be a physical object; o combination of ideas to form a new whole What would you predict/infer from .. . ? What ideas can you add to ... ? How would you create/design a new ... ? What might happen if you combined ... ? What solutions would you suggest for ...?

• EVALUATION o making value decisions about issues; o resolving controversies or differences of opinion; o development of opinions, judgments or decisions Do you agree .. . ? What do you think about ...? What is the most important...? Place the following in order of priority ... How would you decide about ... ? What criteria would you use to assess ...?

From Bloom, et aI., 1956 Summary and Uses of Bloom's Taxonomy *

The following is a summary of the taxonomy created by Benjamin Bloom for categorizing level of abstraction of questions that commonly occur in educational settings. The taxonomy provides a useful structure in which to categorize and address the development of critical thinking skills, since professors will characteristically ask questions within particular levels, and if you can determine the levels of questions that will appear in assignments and on exams, you will be able to craft your learning using appropriate strategies.



Competence Knowledge Comprehension Application Analysis

Skills Demonstrated • observation and recall of infonnation • knowledge of dates, events, places • knowledge of major ideas • mastery of subject matter • Question Cues: list, define, tell, describe, identify, show, label, collect, examine, tabulate, quote, name, who, when, where, etc. • understanding information • grasp meaning • translate knowledge into new context • interpret facts, compare, contrast • order, group, infer causes • predict consequences • Question Cues: summarize, describe, interpret, contrast, predict, associate, distinguish, estimate, differentiate, discuss, extend • use information • use methods, concepts, theories in new situations • solve problems using required skills or knowledge • Questions Cues: apply, demonstrate, calculate, complete, illustrate, show, solve, examine, modify, relate, change, classify, experiment, discover • seeing patterns • organization of parts • recognition of hidden meanings • identification of components • Question Cues: analyze, separate, order, explain, connect, classify, arrange, divide, compare, select, explain, infer

Rawls College of Business 2003-2008 Graduate Program Review Texas Tech University G: Syllabi of Cross-Listed Courses 288

Synthesis

% • use old ideas to create new ones % • generalize from given facts % • relate knowledge from several areas % • predict, draw conclusions

• Question Cues: combine, integrate, modify, rearrange, substitute, plan, create, design, invent, what if?, compose, formulate, prepare, generalize, rewrite

Evaluation

% • compare and discriminate between ideas % • assess value of theories, presentations % • make choices based on reasoned argument % • verify value of evidence % • recognize subjectivity

• Question Cues assess, decide, rank, grade, test, measure, recommend, convince, select, judge, explain, discriminate, support, conclude, compare, summarize

* From Benjamin S. Bloom TaxollolIIY ofeducalional objeclives. Published by Allyn and Bacon, Boston, MA. Copyright © 1984 by Pearson Education. Adapted by permission of the publisher.

Documents

planassess.ba.ttu.eduplanassess.ba.ttu.edu/Reports/Grad Prog Review/Appen… · Web viewYour success in this course depends upon your willingness to actively participate. Thus,