BUS 534P, 2011-12 1 C. Rider

BUS 534P: Networks & Organizations

Goizueta Business School Emory University

Dec. 2011 – Jan. 2012

Professor Chris Rider

Office 557 | (404) 727-4198 | Chris_Rider@bus.emory.edu

This syllabus is required reading for this course.

OVERVIEW To achieve individual and organizational objectives, managers must coordinate activities among individuals, between groups, and across organizations. While human capital (i.e., what we know) certainly influences our potential to achieve objectives, actual achievement is just as likely (if not more likely) to be determined by our social capital (i.e., who we know). In short, effective management of social relationships (i.e., networks) is critical to business success. This course focuses on (1) how incentives and behaviors are shaped by social networks and (2) how networks present opportunities and constraints to managers, companies, and entrepreneurs. By understanding principles of social capital, managers prepare themselves to identify effective ways to create and claim value in organizations and markets. Insights from this course will help managers generate promising career opportunities; form, manage, and lead high-performing teams and partnerships; and identify business opportunities to address market needs. This course is divided into three sections. First, we focus on how our relationships influence our careers. Second, we consider relationships among individuals and how these networks form and influence individual behaviors, typically within organizations. We also build upon these insights to understand networks across organizations (e.g., supplier and customer relationships, alliances, co-investments). Third, we consider how networks of individuals and organizations influence markets for products and services (e.g., social media, financial intermediation). Class sessions include presentations, exercises, and discussions. Presentations introduce the theoretical foundations, exercises provide first-hand insights, and case discussions illustrate real-world applications of effective network management techniques. Three assignments will require students to (1) complete an online survey to assess their social capital, (2) develop a personal action plan for building and using social capital to achieve personal and/or organizational goals, and (3) identify a market opportunity to [profitably] apply the principles of effective network management.

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COURSE FORMAT Class sessions include lectures, case discussions, in-class exercises, and group presentations. Case discussions start with student group presentations. Student groups are expected to analyze the case, draw insights from their analyses, and frame in-class discussion. I cold-call students so it is in your best interest to prepare for every class and to pay close attention during class. This course will be most valuable (and enjoyable) if all students are engaged and participating in a productive manner. To contribute to a productive learning environment, I expect the following of students:

1. Notify the instructor, via email, of expected absences. 2. Prepare for every class. 3. Listen. Pay attention. Seek to understand and then to contribute. 4. Participate regularly throughout the course (more details below). 5. Treat all classmates and their opinions with respect. 6. Carefully consider your position and then state it clearly. 7. Apply course concepts to frame and support your position. 8. Display your name card in each class. 9. Do not use laptops for anything other than taking notes during class. 10. Switch cell phones to silent mode during class. 11. Complete all assignments within the specified timeframe. 12. Obey the Goizueta honor code (see Appendix 1).

COURSE MATERIALS

Summary session slides will be distributed via FirstClass. There will not be a textbook. The following books are not required but are highly recommended:

Baker, Wayne (2000). Achieving Success Through Social Capital: Tapping the Hidden Resources in Your Personal and Business Networks. Jossey-Bass: San Francisco, CA.

Burt, Ronald S. (1992). Structural Holes: The Social Structure of Competition. Harvard University Press: Cambridge, MA.

The course reader is required and may be purchased from Study.net. Total cost for the electronic course pack is $51.35. For an additional fee of $20.50, Study.net will send you a hard copy. Other readings will be available via FirstClass, online at specified URLs, or in class. Please visit the Goizueta eReserves to download materials posted there (http://tinyurl.com/Emory-eReserves). There are additional fees associated with the Social Capital Assessment and an in-class simulation (approximately $50 total). The EvMBA program office will arrange for payment after the course starts; receipts will be available.

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GROUPS

Students must form groups of 3 or 4 students. These groups will work together on two

assignments: (1) an in-class case presentation and (2) a final group project and presentation. Please

email the instructor a group list by Friday, December 16, 2011. More details on the project are in

Appendix 4.

ASSIGNMENT DUE DATES

1. Social Capital Assessment

Started in class on Tuesday, December 13, 2011

Completed by midnight on Wednesday, December 14, 2011

2. Personal network action plan

Due in class on Tuesday, January 3, 2011

3. Final group project

Presented in class on Saturday, January 14, 2011

Presentation order to be determined.

4. Group member evaluation

Due by Monday, January 16, 2011 but not before the final project presentation.

Details for the online survey will be provided in the last week of class.

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GRADING

There are five components of your course grade. Some details are below; more in class.

Individual

1. Class Participation (CP) 15%

You need not speak often; you need speak thoughtfully. Careful arguments based on facts

that support your position are good; even better is specific identification of what it would

take to change your position (e.g., alternative assumptions, changes in facts). Structured

comments that move discussions forward are preferred to repeating previous points,

stating the obvious, or drawing excessively (often, tangentially) on personal experience.

What is and is not “high quality” will become clearer as the semester progresses.

2. Individual Contribution to Group (IC) 15%

Each student’s contribution to their group will be evaluated by all group members via an

online survey. Please refer to Appendix 2 for an example evaluation.

3. Personal Network Action Plan (AP) 30%

Each student will apply course concepts to their career and/or business goals. This plan should specifically identify career and/or business objectives, the social structure of achievement, actions that must be taken to develop a network that increases one’s chances of success, and an implementation timeline. See Appendix 3 for more details.

Group

4. Group Presentation of Case Analysis (GP) 10%

Except for the first day of class, all case discussions will start with a student group

presentation. Student groups are expected to analyze the case, draw insights from their

analyses, and then frame the in-class discussion. Presentations should be no more than 15

minutes; we will follow-up with questions and answers. More details in class.

5. Final Project (FP) 30%

Groups are expected to identify a market opportunity to [profitably] apply the principles of effective network management. The project should address the social structure of the market and identify how at least one group member’s current employer (or a new business venture) might capitalize on “network failures” to generate profits and/or solve a social problem (i.e., non-profits are acceptable). See Appendix 4 for more details.

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GRADING (continued) Each grading component will be normalized by the class mean on each component. The calculation is as below, where i represents the student’s score and m represents the class mean on that component. For example, if the average class participation grade is 11 out of 15 then a student that received a score of 14 receives a normalized score of 1.27 (=14/11; CPi = 14.0; CPm = 11.0. Each normalized component score will then be weighted to produce a Final Grade Score.

Final Grade = 0.15*(CPi / CPm)+ 0.15*(ICi / ICm) + 0.30*(APi / APm) + 0.10*(GPi / GPm) + 0.30*(FPi / FPm)

There is no predetermined relationship between absolute numeric scores and letter grades. Numeric final grades will be converted to letter grades by ranking all Final Grade scores and assigning letter grades according to the approximate grade distribution below:

Grade Expected % of Students Receiving Grade

Distinction 10% to 20% High Pass 30% to 40%

Performance Standard 40% to 50% Low Performance 0% to 5%

No Credit 0%

GRADE APPEAL POLICY This course should help you succeed in business. Although we often disagree with our performance evaluations, stopping by a supervisor’s office to lobby for better ratings or complaining to colleagues is rarely rewarded with greater compensation, more promising projects, increasing responsibility, or unusually early promotions. As such, neither lobbying for higher grades nor complaining about grading will be rewarded in this course. But, mistakes may be made and the merits of your work will occasionally be underappreciated. Such instances are addressed as follows:

1. If you would like your grade on a specific assignment to be reconsidered, then you must compose a memo that justifies further consideration of your work.

a. All memos must be submitted within 1 week of the original grade being distributed. b. The memo must be no more than 1 page (12-pt font, single-spaced, 1” margins). c. The memo must be emailed to the instructor.

2. Final decisions will be made within 1 week of submission (and, usually, much sooner).

3. The assignment will be re-considered in its entirety; grades may be adjusted upward, adjusted downward, or unaltered.

4. All grade appeals must be written; none will be considered during office hours or class time.

Note that you are more likely to be successful in business if you can persuade others logically, not emotionally, in a concise and specific manner. Consequently, such appeals are most likely to result in more positive evaluations upon further review.

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COURSE SCHEDULE See Appendix 5 for specific preparation requirements for each session.

Date Topic Required Preparation TUE 12/13 Introduction Bring a laptop or tablet to class for the Social Capital Assessment.

Consider who is and is not part of your network prior to class.

During class, begin the Social Capital Assessment; complete by midnight on Wednesday 12/14. More info on this assignment will be provided in class.

Read Jay Alix article, March 1997 Wall Street Journal (available on FirstClass or eReserves).

THUR 12/15 Assessing personal networks

Read Heidi Roizen case (HBS #9-800-228).

Read R. Cross & R. Thomas (2011) “A Smarter Way to Network.” Harvard Business Review.

Review and prepare to discuss your Social Capital Assessment in class.

SAT 12/17 AM Principles of social networks

Read J. Pfeffer, “A note on social networks and network structure.” Stanford case OB-66.

Read W. Baker (2000) Ch. 1 in Achieving Success Through Social Capital. (on eReserves)

Read R. Burt (2000). "The network structure of social capital." Pp. 345-423 in Research in Organizational Behavior, Vol. 22, R. I. Sutton and B. M. Staw (eds.). (on eReserves)

SAT 12/17 PM Developing and using social capital

Visit http://www.oracleofbacon.org/index.php and familiarize yourself with Bacon numbers.

Read M. Gladwell, “Six Degrees of Lois Weisberg.” Available at the following URL: http://www.gladwell.com/1999/1999_01_11_a_weisberg.htm

Bring a laptop to class for in-class exercises using the EIS Simulation.

TUE 1/3 Managing networks to lead organizations

Read Krackhardt & Hanson (1993). “Informal networks: The company behind the chart.” Harvard Business Review. July-August.

Read Cross, R., S. Borgatti, & A. Parker (2002). “Making invisible work visible: Using social network analysis to support strategic collaboration.” California Management Review. Vol. 44. No. 2: 25-46.

Bring a laptop to class for in-class exercises using the EIS Simulation.

THUR 1/5 Managing intra- and inter-org networks

Read Shaklee Corporation case (HBS #9-509-031)

Read The HP-Cisco Alliance A case (HBS #9-403-120)

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COURSE SCHEDULE (continued) See Appendix 5 for specific preparation requirements for each session.

Date Topic Required Preparation

SAT 1/7 AM Networks and markets Read Granovetter, M. (2005). “The impact of social structures on economic outcomes.” Journal of Economic Perspectives. Vol. 19. No. 1. 33–50. (on eReserves)

Read Rider, C. I. (2009). “Constraint on the control benefits of brokerage: A study of placement agents in U.S. venture capital fundraising." Administrative Science Quarterly. Vol. 54. No. 4. 575-601. (on eReserves).

Read Leonhardt, D. (2007). “Quantifying the role of school ties in investing.” New York Times June 9th. Available at: http://tinyurl.com/NYT-MutualFunds

Read Rider, C. I. "Networks, hiring, and attainment: Evidence from law firm dissolutions." Working paper. Available on SSRN: http://ssrn.com/abstract=1881028).

Prepare to discuss final project in class.

SAT 1/7 PM Network-based business models

Read Yelp case (HBS #9-709-412)

Read Cyworld case (HBS #9-509-012)

TUE 1/10 Network-based

business opportunities

Read eHarmony case (HBS #9-709-424)

Read Friendster A case (HBS #9-708-407)

THUR 1/12 Evolving network-based opportunities and business models

Read LinkedIn A case (HBS #9-707-406)

Read LinkedIn 2008 case (HBS #5-709-426)

SAT 1/14 AM Group presentations Groups will present network-based business opportunities evaluated for their final projects.

SAT 1/14 PM Group presentations Groups will present network-based business opportunities evaluated for their final projects.

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Appendix 1: Goizueta Business School Honor Code

Members of the Roberto C. Goizueta Business School community are committed to values of honor, integrity, and accountability. We will not use dishonest means to gain unfair advantage in the academic arena, nor will we tolerate anyone who does so.

Academic dishonesty is a corrosive force at any University. Apathy or acquiescence in the presence of academic dishonesty is not a neutral act. It undermines the bonds of trust and honesty between members of the community and defrauds those who may eventually depend on our knowledge and integrity.

All members of the University community, students, faculty, and staff share the responsibility and authority to challenge and report acts of apparent academic dishonesty. Any member of the University community who has witnessed an apparent act of academic dishonesty, or has information that reasonably leads to the conclusion that such an act has occurred or has been attempted, has the responsibility to inform the faculty member in the class involved or the Honor Council promptly in writing.

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Appendix 2: Sample Group Member Evaluation Form

Your Name: _______________________________

Signature: _______________________________

Date: _______________________________

You must evaluate the contribution of each group member, including yourself, to the group assignments for BUS 534P (i.e., group presentation and the final group project). Please use the scale below to rate the contribution of each group member. Use only the integers below; no fractions or decimals. Refer to the table below for rating guidance.

1 2 3 4 5

Unsatisfactory Marginal Satisfactory Good Excellent

Rating Label The quality of the group's work would have been…

1 Unsatisfactory …better without this member.

2 Marginal ...the same with or without this member.

3 Satisfactory ...somewhat diminished without this member.

4 Good ...diminished without this member.

5 Excellent ...severely diminished without this member.

In the table below, please list all group members in alphabetical order by last name. Include yourself and take care to list all group members’ full names. In the third column list your numeric rating of their contribution to the group (1, 2, 3, 4 or 5).

Group Member Group Member Name Your Rating of Their

Contribution

1

2

3

4

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Appendix 3: Personal Action Plan This course should help you build and use social capital to achieve your professional objectives. The

Social Capital Assessment is a first step to developing a personal action plan for enhancing your personal

network and achieving your objectives. The purpose of this plan is to ensure that you act upon what

you learn in class. The assignment will be worth 12 points and graded according to the rubric below.

Your personal action plan should be 5 pages or less and should address the following:

1. Objectives (1 point)

Identify at least one professional objective you would like to achieve. This objective should be

specific. Achievement should be unambiguous. And there should be an expected timeframe for

achievement. You may identify multiple objectives (e.g., short and long term) as long as they meet

the criteria above.

2. Resource Requirements (2 points)

You will need resources to achieve your objective. Some will be at your disposal. Others must be

obtained from others. These might include information, capital, knowledge, influence, trust, labor,

or social support. Be sure to acknowledge the specific demands of the context of achievement (e.g.,

industry, profession, company, region) in identifying your resource requirements.

3. Social Strategy (5 points)

You know your objective(s), how your current stock of resources positions you to achieve your

objective(s), and the additional resources you require. You need a strategy that connects this

knowledge with specific tactics that you will employ. This “social strategy” should help you develop

the type of social capital (i.e., network structure) that will increase your chances of achieving your

objective. For example, in your profession or at your employer a cohesive network composed of

strong, trusting ties may be more valuable than a diverse network characterized by weak ties and

brokerage across various groups. Based on the resources you must obtain through social ties,

develop a strategy for developing the social capital required for achievement of your objectives.

4. Social Tactics (3 points)

Based on your current social capital and the social capital you believe you must develop, how will

you implement your strategy? Be as specific as possible about the actions you will take (e.g., who,

what, when, why, where, how). Consider these concrete commitments to developing the personal

network you require for future success.

5. Timeline (1 point)

Develop a clear timeline for achievement of your objective(s), the implementation of your strategy,

and the specific tactics you will use.

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Appendix 4: Final Group Project Identify a business opportunity to create and claim value based on effective management of social

networks. This capstone project is very important and also purposefully vague. In-class examples will

clarify final project expectations. Groups should analyze a market social structure and identify how at

least one group member’s current employer (or a new business venture) might capitalize on “network

failures” to profit (non-profits are also acceptable: solve a social problem). The project will be presented

in class, worth 14 total points, and graded according to the rubric below. Projects should address the

following (intended to facilitate discussion and analysis; not intended to be all-inclusive):

1. Market social structure (3 points)

Who are the key actors? What are the relationships among these actors?

What is the nature of the relationships among market actors (e.g., strong, weak, densely

connected, loosely connected, cohesive, transactional, stable, fluid)?

How are networks used by market actors to conduct business? What is their relevance in terms

of creating and claiming value?

How does the market social structure present opportunities to some actors while presenting

constraints to others? Who is advantaged or disadvantaged by the market social structure?

2. Network “problems” or “failures” (4 points)

How effectively do networks of relationships among market actors facilitate business activities?

Is the supply of products or services limited by market social structures? Is demand for those

products or services?

Does the market social structure enable some producers or service providers to charge a price

premium while others are forced to provide discounts?

Does the market social structure impose additional costs of doing business on some producers,

service providers, or customers? Could those costs be reduced or eliminated?

3. Network “solutions” (5 points)

What “solutions” do you propose to capitalize on the network “failures” you identified?

What resources are needed to effectively introduce this solution?

Will this solution be less costly than alternatives? Will consumers be more willing to pay for this

solution than for alternatives?

Why should one expect this “solution” to create value? Why do you expect to claim some of

that incremental value? Will this be profitable (or effective for non-profits)?

4. Competitive advantage and sustainability (2 points)

Why is your employer (or your new organization) likely to provide this a solution that is superior

to competitor’s alternative offerings?

Once introduced, what will be your position in the market social structure?

Will you create a sustainable competitive advantage for your employer or new organization?

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Appendix 5: Questions to prepare for each session Below are questions to ask yourself as you read assigned materials. Your consideration prior to class will enrich in-class discussions. There are no assignments due; the questions below simply help you prepare to contribute.

Tuesday 12/13

Social Capital Assessment

The Social Capital Assessment provides a scientific diagnosis of your social capital, or the resources

you access through your personal network. Building social capital is critical for your success;

understanding your social capital is a prerequisite to building it. Prior to class, please…

Consider who your key contacts are. In other words, start mentally preparing a list of the

people you rely upon for information, resources, support, socializing, etc.

Bring a laptop or tablet to class so that you can complete the survey during class time.

Jay Alix article

What general networking principles does Jay Alix follow?

What general networking principles do you follow? What is effective? Ineffective?

Thursday 12/15

Email your list of group members to crider@emory.edu by Friday 12/16.

Heidi Roizen case

What general networking principles does Heidi Roizen follow?

What specific behaviors led to her current network? How were ties formed? Maintained?

What are the strengths of Heidi Roizen’s network? Weaknesses?

How would you compare your network to Roizen’s network? To what do you attribute the

differences? Politics? Personality? Industry? Gender? Something else?

Compare and contrast the networks and networking principles of Jay Alix and Heidi Roizen.

How do their different networking strategies produce different networks? To what do you

attribute their different networking strategies?

What would you suggest Roizen do differently to succeed as a venture capitalist?

Cross & Thomas article

How do you make connections with others? Is there a smarter way?

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Saturday 12/17 AM

Read Pfeffer article on social networks and network structure.

Read Baker’s (2000) Chapter 1

Read Burt’s (2000) article on the network structure of social capital

Saturday 12/17 PM

BRING A LAPTOP TO CLASS

Oracle of Bacon

Go to http://oracleofbacon.org/ and read “How it Works”

Click on “Find the link from Actor A to Actor B.”

Attempt to identify an actor or actress with a Bacon number of 7 or higher.

o What hypotheses guided your attempts to identify those with high numbers?

o Who had the highest Bacon number of those you found?

o If you tried more than, say, 20 actors or actresses then which persons or films seemed

to be recurring links between Kevin Bacon and those you tried?

Lois Weisberg

What networking principles does Lois Weisberg follow?

Why is the world of Lois Weisberg such a “small world”?

Tuesday 1/3

BRING A LAPTOP TO CLASS

Krackhardt & Hanson article AND Cross, Borgatti & Parker

If you conducted a social network analysis at your employer, then what would you expect

the network diagram that it produced to look like?

Who would be central? Peripheral? What work groups or product divisions would be

observable within the diagram? Other groups?

What network positions would be occupied by those employees you believe are most

powerful and influential at your employer?

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Thursday 1/5

Shaklee Corp.

What is Shaklee’s business model? How does Shaklee distribute products? How are

salespeople identified?

From a network perspective, what are the strengths and weaknesses of Shaklee’s business

model?

What are Barnett’s greatest challenges in growing the Shaklee business? In North America?

Abroad?

HP-Cisco Alliance

What challenges does Jim Heal face? Mike Thomas?

What are their respective bases of power?

What influence tactics might Heal and Thomas use?

What actions would you take if you were an alliance manager at HP or Cisco? How would

you prioritize those actions?

What “structural interventions” might enable the HP-Cisco alliance to function more

effectively?

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Saturday 1/7 AM

Granovetter article

Granovetter outlines how social structures influence economic outcomes. For each

category (e.g., labor markets, prices, productivity & compliance, and innovation), identify

one aspect of your experience that is consistent with the argument and evidence presented.

Also consider influences of social structure that are not discussed in his article.

Leonhardt WSJ article

Do you believe you have learned enough about classmates’ managerial abilities to make

large financial bets on the future performance of the companies they will one day lead?

Does this study provide evidence of “managerial insights” or “insider trading”? Why?

Rider article on placement agents and venture capital fundraising

This article provides one example of one type of broker (i.e., a placement agent) that profits

by bridging holes in the social structure of the private equity fundraising market.

Can you identify similar intermediaries in the markets in which your employer participates?

Are there opportunities in your employers’ product or factor markets for an organization to

similarly capitalize on brokerage opportunities presented by market social structures?

Rider article on law firm dissolutions

This article documents the influences of prior education and employment networks on U.S.

lawyers’ labor market outcomes.

Do you observe similar hiring patterns in your industry?

In what types of industries would you expect prior education and employment affiliation

networks to be particularly critical to success? Irrelevant to success?

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Saturday 1/7 PM

Yelp case

How do you learn about good restaurants? Whose recommendations do you trust?

How did Yelp recruit so many reviewers so quickly?

Why are individuals so enthusiastic about providing Yelp reviews? Why do users rely on

Yelp for reviews?

What network constraints does Yelp face in achieving profitability?

Should Stoppelman retain the existing monetization model and invest in a large sales force?

Alternatively, should Stoppelman transition to a subscription model? Is there another more

promising business model that Stoppelman is not considering?

Cyworld case

Why do people use online social networks? More specifically, why do Cyworld’s users use

How should one segment Cyworld’s users? Which segments should be targeted? How?

Describe the profile of Cyworld’s most valuable group of users (hint: consider their

spending, activities, other behaviors, and relationships).

How is Cyworld different from Facebook? From Amazon? From YouTube?

What business model is best for Cyworld: (1) paid items, (2) mobile networking, (3)

advertising, or (4) some other model?

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Tuesday 1/10

eHarmony case

Why would someone use an online dating site (as opposed to finding partners offline)?

Based on your understanding of industry structure, how financially attractive is the on-line

personals market?

Does eHarmony have a competitive advantage or disadvantage? If so, then what is the

basis of (dis)advantage?

Quantify the relative advantages of eHarmony, Match, and Yahoo! by estimating their

revenue and profit per subscriber.

How sustainable is the advantage you identified?

Which of the four options under consideration should Waldorf pursue?

Friendster case

This is a complex case; it is important to read with a specific focus on the questions below. For each

intended use of Friendster, consider both the offline and the online experience (e.g., offline dating

versus online dating).

Evaluate Abrams’ idea of Friendster as an online social network that facilitates dating? Why

was this idea less successful than hoped?

Evaluate Koogle’s idea of Friendster as an online social network that improves online

search? Why do you believe Eurekster failed to gain traction?

Evaluate Katz’s three strategic options: (a) personal media, (b) city-centric, and (c) trusted

product referrals? Which should Katz choose?

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Thursday 1/12

LinkedIn A case

Who participates in labor markets? How often does the typical participant participate?

How is an online job search different from an offline job search?

To be clear, describe how LinkedIn works? Use a diagram, if necessary.

Who is most likely to open a LinkedIn account? Who values access to LinkedIn members?

What does LinkedIn provide that is difficult or costly to obtain offline?

Which of the two revenue models Guericke and Hoffman are considering should be

implemented: (1) subscription fee or (2) pay-per-contact?

LinkedIn 2008 case

Identify the key actors in the online professional networking market.

Identify the dependencies among these actors; in other words, which actors’ participation is

either a positive or negative function of the other actors’ participation.

Is the professional networking market a “winner-take-all” market? In other words, are

there “network effects” in this market that lead to one dominant provider of online

professional networking?

To what do you attribute LinkedIn’s success to date?

What are the greatest competitive threats to LinkedIn’s continued success?

Should LinkedIn retain its “professional” orientation or should it become more “social”?

Saturday 1/14

Prepare group presentations.