Let's Get Down to Business...

A Few Bad Apples will Ruin Everything

WHAT HARM CAN A HANDFUL OF NASTY OR INCOMPETENT EMPLOYEES DO?  A LOT MORE THAN YOU MAY THINK.

Superstars get a lot of attention from bosses. But bad apples deserve even more.

A growing body of research suggests that having just a few nasty, lazy or incompetent characters around can ruin the performance of a team or an entire organization—no matter how stellar the other employees.

Bad apples distract and drag down everyone, and their destructive behaviors, such as anger, laziness and incompetence, are remarkably contagious. Leaders who let a few bad apples in the door—perhaps in exchange for political favors—or look the other way when employees are rude or incompetent are setting the stage for even their most skilled people to fail.

It's crucial for leaders to screen out bad apples before they're hired—and if they do slip through the cracks; bosses must make every effort to reform or (if necessary) oust them.

It isn't an easy thing to do...

Writing well is one of those things that isn't easy, but you've got to do it. Fortunately, it's something that gets better with lots of practice.

Being able to communicate clearly is essential if you want to succeed in the business world. Your idea for a better mousetrap won’t get to first base if you can’t persuade somebody that the world will beat a path to your door if we build it.

My version of introducing you to business requires putting a pen or pencil on paper (or fingers on a keyboard) and explaining things. It’s a little time-consuming and sometimes frustrating, but worth it in the long run.

To get you started, here are a few rules I've collected that could be helpful. Look them over and try some out.  See if they help.

Scoring for Team-based Work

Points earned for the various team assignments are awarded to each team member.  If, for example, a team earns 48 out of 50 possible points for its Strategic Concept submission, then each member of that team is awarded 48 points.

This assumes, however, that every member of that team contributed in some substantial way to the assignment or submission.  If someone didn't, there's a "Free Rider" problem.

To avoid any team member getting more points than they deserve (getting a ride for free), the "Team Contribution" scoring category is used to make any necessary adjustments.

If during the term and based on the Team Member Evaluations, it's found that any team member has not contributed to their team's work, that member's "Team Contribution" score will be adjusted accordingly.  It's possible that this adjustment will cause a student's Team Contribution score to be negative. 

Feedback - Give it early and often

It's important that we communicate with one another about how you're doing in the course.  All too often, evaluations come at the end of a course when it's too late to make mid-course corrections.

How about doing things different and maybe better?

Here's a link to a Confidential Survey where you can give me some feedback on what's working or not working for you:  Click to Give Feedback

Your feedback is confidential.  I'm the only one who will see it.  Access to your feedback is password protected.

Your feedback can also be anonymous if you want.  If you want me to contact you, or know who you are, leave your name and how to contact you.  Otherwise, your feedback will be anonymous if you want it to be.

Let me know early and often how things are going.  Thanks for your help.

The Business Plan Project: Requirements and Submissions

A little more than half the course's points, time and effort center on the Business Plan Project.

It's an essential part of being "introduced" to business and starting (or continuing) your business education. 

The project is ostensibly designed as a practical exercise.  Initially, you'll identify a product or service and target a market segment.

From there, you'll form an organization that will identify the financial and human resources needed to bring the business to life.  Along the way, you'll make dozens of decisions about what to do and how to do what you've decided to do.

But you won't be doing this alone.  You'll do it as a member of a team of 4 or 5 of your colleagues.  Developing the plan may be a walk-in-the-park compared with herding your team through this endeavor. 

I can assure you that you will survive the experience.  That doesn't mean there won't be frequent bouts of frustration, bewilderment, confusion and, yes, amazement at what you'll produce.   

Teams are not groups.  Groups decide things, but Teams innovate solutions.  Successful teams run on commitment and trust.  And they perform at a level higher than the individual bests of their members; teams are something more than the sum of their parts.

So start reviewing the attachment and its description of the project's requirements.  As you're reading, be thinking at two levels.  First, think about how you and your team will do what has to be done. 

But also think about how you might take all the puzzle's pieces and put them together in a way that's worth something to someone.  Because isn't that what business is all about?  Taking a pile of "sticks and bricks" (also known as resources, both human and financial) and organizing them in ways that sustain customer loyalty and create long-term value.

Download Business Plan Project (2011-2012)

Hall of Fame

The extraordinary work of some of our students and their teams deserve special recognition.  Being selected for our Course's Hall of Fame ranks up there with getting an Academy Award or winning a Nobel Prize.  Here are some of our Gold Medal Winners and a few outstanding business plans.

_______________________________________________________________

Our Gold-medal winners from Winter 2012 combined great business planning with even better presentation skills (and a dose of humor for good measure).  Best of all, they gave us a lesson in great teamwork:  Teams need leadership more than leaders and the Team always comes first.

 

According to our Spring 2011 Gold-medal winning team, there are two ways to get a good job in this tough economy.  First, get your business education at Portland State.  Next, and most important, hire them to match your skills with a great business.  That's why they're called, "Precision Placement."

 

 

The Gold-medal winning team from the Noon Section of Winter Term 2011 went the extra mile when they were challenged to do something to help their community.  High energy and even higher ideals were what the "Feed the Need" team was all about.  Congratulations on an outstanding performance.  I'll bet we'll hear more from this team of hyper-achievers!

 

The Gold Medal for the Two PM section of Winter Term 2011 went to a team that was "positively" fabulous.  Their high quality work and presentations "fit" them perfectly.  They never "paused" in their dedication to winning the gold. Congratulations to the "Pawsitively Fit" Team.   And the "very distinguished-looking gentleman" in the picture appreciated getting to spend a couple of days each week hanging out with these future business tycoons.

Fall 2010 concluded with another round of action-packed, thrill-filled elevator pitches.  The competition was fierce and the quality even better.  When the dust settled, the Noon Section's Viking List walked away with the Gold Medal.  Unfortunately, they didn't get their picture taken.  The Two PM Section winners - WeGo Bikes - didn't miss out.  What a photogenic group.  Nothing like a bunch of extra-credit points to bring out those smiles.



Spring Term 2010's winning team rocked the house.  Look at those winning smiles.  A bunch of extra-credit points and the Gold Medal gave them a whole new outlook.  Here's the Pets-a-Go-Go team.

 

 

From Winter 2010's Noon Section, this Gold-Medal Winning Team featured Hubert who was ably assisted by some two-legged future business managers.  Meet, what else, the "Howlin' Hounds."

 

 

The Gold Medal winners from Winter 2010's 2:00 PM Section made us wonder, "What's a Collar Cozy?"  When they finished, everyone wanted a cozy for their (pet's) collar.  Meet the Collar Cozy Team.

 

 

The Fall 2009 Noon Section included an "extra" who was a star performer and received his own Gold Medal.  Meet "Scruffy's" team:

 

 

The "Custom-Fit Cycling" Team from the Fall 2009 2:00 PM section won a Gold Medal but their favorite football team didn't win the "War for the Roses."

 

From the Spring 2009 section, here's "The Haven" team who also got special recognition for being the "Best-Dressed Team":

 

 

For your reading enjoyment, here are a few all-time great business plans submitted by some of our alumni:

Download Precision Placement

Download Pawsitively Fit

Download Choice Dog Care Business Plan

Download Scruffy's

Download The Green Bean Caffe

Download Collar Cozy

Team Member Evaluations

Sometime after submitting your Final Business Plan and making your Extra-Credit Presentation (if your team did that), but before the Final Exam, please evaluate how your teammates performed.

The evaluation is confidential; I'm the only one who will see it or know its contents.

Intra-team discussions or agreements about scoring are strictly prohibited.  Once in a while, team members collude and decide they will give high grades to one other regardless of how well or badly the member did.  Don't do that.  This is your first - and it won't be your last - personnel evaluation assignment.  It's not always fun but make the best of it and do it honestly and thoroughly.

Two versions of the Evaluation form are included.

One is an "Electronic" version with pull-down menus for entering team-member grades.  When completed, save it and send it to me as an attachment to an e-mail message.

Or there's a "Hard Copy" version with "Bubbles" for entering team-member grades.  Print out this version, complete it and hand it directly to me. 

It's up to you how you get it done.  Just please make sure you do get it done.

Be sure to fill-in your team name and your name at the top of the form.  Enter each teammate's name in a scoring section. 

Then evaluate their contribution by category using the "Grading Standards" and by selecting the menu choice or "bubbling" the dotted-circle that best describes how your teammate performed.

Also, follow the rule that "Any Score of 0, 1 or 2 must be explained."  This ensures that any low scores are justified.  If no explanation is given for a score of 0, 1 or 2, a score of "3" will be awarded.

Use the "Comments, Explanation or Documentation" section to explain any score below "3."  Or you can also use this section to acknowledge a teammate's outstanding performance.

• Download Team Member Evaluation (Electronic)
• Download Team Member Evaluation (Hard Copy)

Figuring out this "Team Thing"

Team projects are a big part of this course and every other business course you will take.  And an equally big part of your business career will be team projects. 

Whether you're part of an inventory-stocking crew or a member of the company's Board of Directors, everything usually comes down to being part of and getting something accomplished by a team. 

Teams work (the majority of the time) very well.  They develop innovative solutions to vexing problems.  And their members bond and work together like the proverbial well-oiled machine.  But when they don't work well... well, it's not a pretty sight.

What can we do to avoid "team-disasters" and give teams a chance to perform at high levels?  Have we learned any lessons that might help newly-formed teams be successful?  Are there some "tricks of the trade" that might be useful?

The answer to all those questions is yes.  And a source for many of the answers comes from the attached article.  It was written in 1993 by a couple of non-academics who thought there must be something (other than good luck) that makes good teams work.  Their article compiles their findings into an easy-to-read piece that will have you taking notes and thinking about how to do some of the things they discovered.

• Enjoy...  Download the_discipline_of_teams.pdf 

Five Most Common Flaws in Business Plans - and How to Fix Them

John Mullins studied stacks of good and not-so-good business plans and came up with five common problems (I'll bet you thought the list would be longer).

The results of his research were published in the Wall Street Journal; it's mandatory reading for all of us.  Make sure your plan doesn't suffer any of the dread diseases that he's diagnosed.  Better yet, apply the cures that he prescribes.

Download Five Most Common Flaws with Business Plans

Here's my "back-of-the-envelope" summary of the key questions your business plan has to answer.

1. What's the problem that your solution fixes?  Who has the problem and why will they like getting it fixed?
2. Who's your Initial target market?  Isn't it easier to win a large share of a narrow market than a small share of a large, complex and highly competitive market?
3. How will your business perform its three essential tasks:  (A) How will it gain market awareness? (B) How will it persuade customers to switch to your product? (C) How does its Distribution Channel(s) work?
4. Do your Numbers and Assumptions make sense?  They may be correct, that is, the calculations add up to show profits, but are they realistic?  Will your customers believe them?
5. What's your "Plan B?"  What will you do if "Plan A" doesn't work?  Why should anyone believe your team can pull it off?

Everything you wanted to know about Business Plans and more and more...

There are lots of sources out there on how to put together an award-winning business plan (that could also earn an "A" for you in the course).

Unfortunately, most of them aren't worth what you'll pay and the rest simply aren't very good.  There is, however, one needle in this haystack that deserves some of your time and energy:  Bplans.com.

Don't immediately start downloading their sample plans.  Instead, first read about all the mistakes that can scuttle your plan.  Think through the purpose for your plan and its key message.  What are the three or four essential elements that distinguish your plan and team?  Good luck.