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The author has examined common growth beliefs and the U.S. Growth Model and finds no support for them in any area of business research. He offers instead the Organic Growth Index, the result of ten years of research by the Batten Institute at the Darden School. Six keys to organic growth are presented and above-average growth companies that remained successful are linked to an internal Growth System called Smart Growth.

This note explains managing for stakeholders, an emerging view that, basically, businesses and the executives who manage them actually do and should create value for customers, suppliers, employees, communities, and financiers (or shareholders)--which contrasts with the dominant idea that businesses are to be managed solely for the benefit of shareholders. The note examines why the dominant model is no longer viable in today's business world and then goes on to define the basic ideas of managing for stakeholders (and why it solves some of the problems of the dominant model) and to sketch three primary arguments from ethical theory for adopting managing for stakeholders.

A short history of Apartheid in South Africa.

Course Overview and Syllabus for RSME. This note outlines the learning objectives, course goals, module structure and class details along with the cases, dates and supplemental readings for the Running Small and Medium Size Enterprises (RSME), Winter Term 2013 course.

Course overview of The Entrepreneurial Manager.

This note focuses on the main basic concepts of finance, including the income statement and balance sheet, financial and accounting metrics, cost of capital, and value creation. It also includes updated data on many risk indicators in 2012.

Mergers and acquisitions (M&As) are important events in the life of any manager and company. However, the overwhelming evidence from years of research is that the majority of M&As fail to create value for the acquirer. This note focuses on the main methods used to assess the value creating potential of M&As. Valuation is a key tool to understand whether or not a certain merger will add value to shareholders. Thus, this note covers concepts such as: 1) Value creation through M&As. For whom do mergers create value? 2) Valuation by Discounted Cash Flows (DCF) in M&As; 3) Types of synergies and how to consider them; 4) Appropriate discount rates in an M&A setting; 5) Valuation using multiples and other market transactions as reference. Learning objectives: This note allows for an understanding of the strategic and economic considerations in mergers and acquisitions, with a focus on the key drivers of successful acquisition strategies.

Course Overview and Syllabus in the Fall Term 2012 for the Entrepreneurial Management in a Turnaround Environment (EMTE) course.

The funded search model is one alternative for individuals who, at some point in their career, want to run their own companies. This note looks at the funded search, as a means to entrepreneurship through acquisition and describes the path to buy and run a business using debt and equity as a means of financing the purchase. While applicable to an early career choice, many of the process steps are applicable to unfunded searches at later stages of a career.

In the relatively short time since Groupon was founded, the response to "daily deals"-services that promote businesses by marketing deeply discounted, pre-paid vouchers to an online subscriber base-has by all accounts been spectacular. Our evaluation of daily deals is a cautionary tale for merchants: a substantial percentage are unlikely to benefit, and might well lose money, by using this type of campaign. But a careful analysis of the right data provides clear indicators of both what types of merchants are likeliest to benefit, and which factors that influence profits should receive the most management attention.

Jefferson County, Alabama, faces an EPA mandate requiring sewer system upgrades. How will they finance the upgrades? What consequences will follow?

A note on municipal bond structuring.

A note on municipal bond structuring.

This note deals with the issues of strategy, the first common source of acquisition failure. An appropriate master plan that links strategy and integration is a critical requirement for this interplay and ensures that the target will improve the acquirer's overall competitive abilities.

The role of branding at the corporate level, distinct from product marketing, has evolved to serve as an expression of corporate values. This note surveys current thinking about the ways corporations consider the alignment of brand with the business model and corporate social responsibility (CSR).

This technical note describes the "OpCo/PropCo" process of valuing a real estate intensive business. The term "OpCo/PropCo" refers to a business arrangement in which a consolidated, real estate-intensive enterprise is split into two separate businesses: (1) A property company and (2) the underlying operating business.

Whether the government or markets, or a mixture of both, can provide efficient and effective incentives for encouraging entrepreneurial activity and new venture financing is an age old question. Public promotion efforts are controversial and in most cases they tend to fail. In the United States, debate about the role of government in these areas can be traced back to at least the Great Depression and the period immediately after World War II when the issue became a particular concern. Policy makers considered that existing financial institutions could neither provide the necessary due diligence nor the pool of risk capital that was necessary to spur entrepreneurial ventures. Furthermore, there were calls for additional inducements in the form of tax related incentives. The mechanisms that were used raise questions about benefits, costs and unintended consequences. Can, and should, the government influence entrepreneurial activity and venture financing? What are the limits to government intervention?

This technical note provides an update on the use of customer data in marketing organizations and discusses how calculations of customer acquisition costs are made. It introduces the concept of customer lifetime value and provides examples of how it is calculated and how it is used. If desired, this reading is good preparation for students completing the Kellogg exercise "Maru Batting Center: Customer Lifetime Value," Case #3-112-003.

This technical note discusses learnings from organizations facing the challenges of managing brands across global geography. It talks about best practices for balancing the competing needs for local relevance and global consistency and scales.

This note describes balance sheets, income statements, and statements of owners' equity and serves as an introduction to basic financial statements.