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Note on the Nonprofit Coherence Framework
by Allen Grossman Stacey ChildressThis note presents the Nonprofit Coherence Framework. It helps nonprofit leaders identify the key elements that support an organizational strategy focused on attaining high performance, bring those elements into a coherent relationship with the strategy and each other, and help guide the actions of people throughout an organization in the pursuit of high levels of individual and organizational achievement. This note proposes that to attain high performance, a nonprofit organization must have all of its organizational elements-culture, structure, systems, resources, stakeholders, and the operating environment- working together to drive strategy.
Note on the Nonprofit Sector
by Allen Grossman Naomi Greckol-HerlichThis note introduces students to the current state of the nonprofit sector around the world. It also provides insight into the sector's origin and purpose as well as the identifying important current trends. The note draws on numerous sources to provide a single resource for readers to gain understanding of this complex sector. The intended audience includes students, prospective professional leaders, those considering joining a board, consultants to the sector, or anyone wishing to learn more about the field.
Note on the Recipients of Change
by Todd D. JickExamines the experiences of being a "recipient" of change and how to help individuals cope with change. The first part describes how people typically respond to changes likening it to a loss experience. The second part describes what organizations can do to help individuals through difficult transitions, while the third part identifies what individuals can do for themselves. Finally, raises the challenges for individuals to deal with multiple and continuous change.
A Note on the Snack Food Industry
by Amram Migdal David Bell Kerry HermanThis note provides an overview of the snacking industry in 2017.
Note on the Structural Analysis of Industries
by Michael E. PorterProvides a framework for the analysis of industry structure. Identifies the major structural features that influence the profit potential in industries and some illustrative implications of these for strategy formulation. Can be used as a reference note for business policy courses and/or as the background for a lecture on industry analysis.
Note on the Theory of Optimal Capital Structure
by William E. FruhanExamines the interrelationship between the maximization of the share value of a firm's common stock and the minimization of the firm's weighted average cost of capital. Presents a revised version of a case by J.W. Mullins, Jr.
Note on the U.S. Freight Transportation Industry
by Janice H. Hammond John E.P. MorrisonDescribes the major modes of domestic freight transportation (motor carrier, rail, air, water, and pipelines). Examines the characteristics of the transportation service that each mode provides and discusses changes in the industry that have resulted from recent regulatory reform. Intended to provide background information for the transportation cases used in the Business Logistics course.
Note on the Use of Experience Curves in Competitive Decision Making
by John S. Hammond Gerald B. AllanDescribes the experience curve concept, details of its application, uses in competitive analysis, and a number of caveats and limitations.
Note on the Value of Information in an Entrepreneurial Venture
by Paul W. MarshallUses a decision analysis framework to analyze the value of gaming information before making a full investment in an entrepreneurial venture.
Note on the Venture Capital Industry
by Paul A. GompersThe history of the venture capital industry is reviewed, and the key institutional features described.
Note on the Venture Leasing Industry
by Josh LernerProvides an overview of venture leasing, an innovative financing mechanism that resembles both venture equity investments and bank lending.
Note on Transaction and Translation Exposure
by W. Carl Kester Richard P. MelnickDescribes the transaction and translation exposures that companies doing business internationally face when foreign exchange rates change. Also discusses how to measure and cover both types of exposure. Covering techniques are demonstrated using examples of forward cover, money market hedges, and options market hedges. Other covering devices, such as swaps and leads and lags, are also presented. Explains how these exposures relate to each other and what can be done to minimize overall foreign exchange risk.
A Note on Trust
by James M. SharpeThe effective manager and leader understands and appreciates trust at both the personal and the organizational levels. Most managers focus more on being trusted than on trusting. The best way to be trusted is to be worthy of trust-to be trustworthy.
A Note on U.S. Bankruptcy Law: Individuals, Firms, and Sub-State Entities
by Laura Phillips SawyerIndustry and Background Note
Note on Valuation-Compensation Tradeoff in Professional Service Firm Acquisitions
by Ashish NandaThis case highlights the tradeoff between valuation ascribed to professionals at the time of a professional services firm (PSF) acquisition and the postacquisition compensation of these professionals. It emphasizes how a high valuation at acquisition carries with it the requirement to lower professionals' compensation postacquisition.
Note on Valuation in Entrepreneurial Ventures
by Paul A. GompersDiscusses various valuation methodologies for analyzing entrepreneurial firms. Gives a description of the methodologies and describes when each method is appropriate.
A Note on Valuation in Private Equity
by Paul A. GompersThis note will provide an overview of valuation methodologies in private equity.
Note on Valuation in Private Equity Settings
by Josh Lerner John WillingeThis note discusses several ways in which venture-backed firms can be valued, including comparables, net present value, decision-tree analysis, and the "venture capital method."
Note on Value Drivers
by Benjamin C. EstyPresents a framework for analyzing strategic decisions. Takes as given the practice of value-based management whereby managers use value as a primary criterion when making financial, strategic, or investment decisions. Through a simple valuation model, it shows how equity value is related to three value drivers profitability, advantage horizon, and reinvestment. Also presents a numerical example to illustrate the model as well as empirical evidence to support the relation between value creation and the value drivers.
Note on Valuing Control and Liquidity in Family and Closely Held Firms
by Belen VillalongaMost companies around the world are family-controlled and/or closely held. The need to value these companies routinely arises in practice for a variety of reasons, e.g ., to buy out minority shareholders; for gift and estate tax purposes; to tie executive compensation to firm performance; to raise outside capital; or to sell the company outright. However, these companies present certain unique characteristics that can make standard valuation methods inappropriate for them.
Note on Valuing Equity Cash Flows
by Timothy A. LuehrmanA technical note for advanced students on the topic of valuing highly-levered equity. Introduces the "equity cash flow" valuation methodology, shows how to use it, discusses the sources and signs of its built-in biases, and provides some guidance about when to use it.
Note on Valuing Private Businesses
by Dwight B. Crane Indra A. ReinbergsThis case provides a brief overview of valuation for owners of closely held companies. The focus is on a comparable transactions approach, although rules of thumb and discounted cash flow are mentioned. Earnings multiples and their drivers are discussed. It uses company example and transaction data on private deals as an exercise in screening for comparable companies and valuation based on multiples. It includes a three-page bibliography with references to further sources on valuation methods, private transaction data, financial databases for company screening, and professional advisors from appraisal and valuation communities.
Note on Why Leaders Lose Their Way
by William W. GeorgeIn the seemingly never-ending revelations of corporate scandals that have been exposed since the fall of Enron, the media, politicians, and the general public have taken to characterizing such leaders as "bad people," even to the point of considering them evil. The rest of our leaders have become suspect, as corporate executives are tied for dead last with used car salesmen in terms of public trust. These overly simplistic notions of "good leaders" and "bad leaders" only serve to cloud our understanding of the nature of leadership in the business world and how good leaders can lose their way. Teaching Purpose: To outline how and why leaders lose their way.