Let's Get Down to Business...

How about doing something "meaningful?"

I've suggested the following trio for starting to figure out what you'll do with your "work life."

Do What You're Good At

Do It With Passion

Do It With People You Like and Respect

I think all of us want to do something that makes us feel good about what we're doing. In other words, that we're accomplishing something useful and valuable. Whether it's important or not is obviously a question that will never have the same answer twice.

Here's an interview that will give you a different perspective on being "satisfied" with what you're doing. In it, Matthew Crawford, who earned a Doctorate from the University of Chicago in Political Philosophy, discusses what he did for awhile, why he's not doing it now and what's he up to these days. You'll be surprised at how he's using his high-powered education. You may be even more surprised at who is doing the interviewing. Enjoy.

The Colbert Report	Mon - Thurs 11:30pm / 10:30c
Matthew Crawford
www.colbertnation.com
Colbert Report Full Episodes Political Humor Fox News

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.

Extra-Credit and Makeup Policies: A Little Clarification

A frequently-asked question is, "Can extra-credit points be earned?"

The answer is No and Yes. 

There are no extra-credit opportunities for individual students.  No points will be awarded for work outside the course's scope. 

There is, however, an opportunity for the Teams to earn extra-credit points by entering the "Elevator Pitch" competition during the Tenth Week.  To learn more, check out the "Elevator Pitch/Extra-Credit Championships" category.

Another question that may be asked even more frequently is, "Can I make up a quiz or examination that I missed?"

The answer is Probably Not. 

The general rule is the Course's schedule will be strictly enforced.  Exceptions may be granted but only for documented circumstances beyond the student's control that prevented the student from being present for the quiz or examination. 

Note that exceptions are just that - exceptions.  In most instances, you won't get a chance to make up a missed quiz or examination.  You may - there's no guaranty - get to make up a quiz or examination if (1) you were absent for a reason that you couldn't anticipate or control and (2) the circumstances that caused the absence are satisfactorily documented.  An example might be hospitalization.  In such a situation, you would be required to produce written proof that you were, in fact, hospitalized.  

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. 

Our Distinguished Alumni: On their Way to Fame and Fortune

Every now and then, we get to hear about the exploits of some of our alumni.

Some of them are on their way to the Executive Suite of a Fortune 500 company. Others are working at making the world a better place.

Then there are those who were infected by the entrepreneurial bug that bit them during our course.

If we were proud of them as students, think how we feel now when we see them out there dazzling investors, suppliers and customers with their energy and passion.

Here's the Kickstarter proposal (aka their Elevator Pitch) from "Cultured Caveman." In our Extra-credit competition, Heather and her team won a gold medal with their pitch about a Coffee Shop. Now look at what she's up to.

Economic Indicators for Small Businesses

Most of the indicators used by our friends, the Economists, don't work well for Business Managers. Global statistics or information that doesn't relate to our customers and suppliers isn't helpful.

Here's a recent article from the Wall Street Journal that suggests how small businesses can use the Unemployment Rate (look at local trends and rates). More interesting, it introduces you to four new (aren't you excited?) measures that give small business decision-makers a lot of what they need to know. Enjoy.

• Download Small Business Indicators

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)

Important Dates and Deadlines

Our course may have a "Wait List." 

One of the most valuable aspects of getting your business education at PSU is small class sizes.  If you were attending Harvard and enrolled in their introductory economics course, the lecture hall would be filled with nearly 900 other students. 

At PSU's Business School, maximum class sizes usually have between 45 and 60 of the best and brightest students in the land.  And I'm stricter-than-most when enforcing that guideline, to the chagrin of the students who don't make the cut. 

We'll reconcile the course's membership during our first meeting and then "true it up" on the following Thursday.  If you're on the Wait List, show up on the first day and see what happens.  If you're not on the Wait List or show up after the course's first session, don't expect to get into the course.

Check the University's website to know the last day you can drop the course without incurring a financial penalty.   Drop the course after that date and you'll get a decreasing amount back.  And the longer you wait, the smaller the refund. The percentage of your hard-earned tuition dollars that will be refunded decreases until a date certain.  After that date, all the money you've paid belongs to the University. 

Good luck.

Laptops, Cell Phones and Other Electronic Paraphernalia

Everyone seems to have an opinion about laptops in the classroom.  Some say they're essential for note-taking.  Others report they're used for everything but note-taking. 

Instructors complain that laptops don't let them make eye-contact with their students; all they see is the backs of open laptops.  Some instructors feel laptops inhibit classroom discussion because they provide "easy cover" for reticent students.

Many businesses have "No-Laptop Meetings" and areas that are designated "Laptop-Free Zones."

To get to the bottom of this, we conducted an experiment last year.  All laptops and other electronic gadgets were banned from our classroom.  We also conducted a poll on what the students thought about our experiment.

The results overwhelmingly favored keeping laptops out of our classroom.  It wasn't even close; over 70% of the students voted that laptops were a distraction.

So, add laptops to the list of things that aren't allowed in our classroom.

There are, however, some exceptions to this rule.  First, it does not apply to anyone with a documented disability.  It also does not apply during "team time."  Finally, we might consider designating a single person to be a note-taker for the class if necessary.

Thanks for your cooperation.