FINANCE€¦ · Merck & Co.: Evaluating a Drug Licensing Opportunity This case explores the...

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Page 1: FINANCE€¦ · Merck & Co.: Evaluating a Drug Licensing Opportunity This case explores the valuation of an opportunity to license a compound before it enters

FINANCE 2 0 1 5Articles | Books & Chapters | Cases | Course Modules Online Courses | Simulations

INDIAEDITION

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Harvard Business Publishing serves the finest learning institutions worldwide with a comprehensive catalog of case studies, journal articles, books, and elearning programs, including online courses and simulations. In addition to material from Harvard Business School and Harvard Business Review, we also offer course material from these renowned institutions and publications:

� ABCC at Nanyang Tech University

� Babson College

� Berrett-Koehler Publishers

� Business Enterprise Trust

� Business Expert Press

� Business Horizons

� California Management Review

� Crimson Group USA

� Darden School of Business

� Design Management Institute

� European School of Management and Technology (ESMT)

� Haas School of Business

� Harvard Kennedy School of Government

� Harvard Medical School/Global Health Delivery

� HEC Montréal Centre for Case Studies

� IESE Business School

� Indian Institute of Management Bangalore

� Indian School of Business

� INSEAD

� International Institute for Management Development (IMD)

� Ivey Publishing

� Journal of Information Technology

� Kellogg School of Management

� McGraw-Hill

� MIT Sloan Management Review

� North American Case Research Association (NACRA)

� Perseus Books

� Princeton University Press

� Rotman Magazine

� Social Enterprise Knowledge Network

� Stanford Graduate School of Business

� Thunderbird School of Global Management

� Tsinghua University

� University of Hong Kong

� The Wharton School, University of Pennsylvania

CONTACT US:

Harvard Business Publishing, India +91 22 6516 0248 [email protected] hbsp.harvard.edu

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CASES

Cases, slices of business life, focus on actual problems and decisions facing a company. Students are challenged to put themselves in the protagonist’s place and suggest business strategies, tactics, and solutions.

New Cases

Advantage Partners: Dian Kanri (A)Advantage Partners, a leading Japanese private equity firm, has the opportunity to purchase the condominium management business of a distressed real estate developer. The case explores investment structuring, bidding strategy, the role of equity in Japan, and the ability of private equity firms to add value. TN Harvard Business School #214016

Barclays Bank and Contingent Capital Notes, 2012In 2012, regulatory changes following the financial crisis mean that Barclays Bank needs to raise large amounts of capital in order to be compliant. The bank is contemplating offering contingent capital bonds. How should these instruments be designed? Can they be attractive for the bank and for investors? TN Harvard Business School #214063

Blackstone and the Sales of Citigroup’s Loan PortfolioWhen the financial crisis unraveled, there were several billion dollars’ worth of leveraged buyout (LBO) loans that were meant to be syndicated but, due to full underwriting, had to be funded by the originating banks. The senior managing director at Blackstone evaluates the opportunity to buy a fraction of the leveraged loan portfolio being offered for sale by Citigroup. TN Harvard Business School #214037

Canyon-Agassi Investing in Charter SchoolsThe Canyon-Agassi Charter Schools Facility Fund is an innovative investment vehicle that combines for-profit private equity with an investment in social enterprise. This juxtaposition creates a problem in fundraising. The case includes investor profiles to help students understand how to market a new investment strategy. Harvard Business School #214033

East Meets West: Rothschild’s Investment in Indonesia’s Bakrie GroupFinancier Nathaniel Rothschild and his associates created a shell company that acquired PT Bumi Resources and Berau Coal. These were controlled by the Bakries, a powerful Indonesian family. After losing 70% of his investment in three years, Rothschild attempted to remove the Bakries and their associates from the team. Despite the Western-style corporate governance maneuvers, the investors find it challenging to control the politically connected family. TN INSEAD #INS301

Elan and Royalty PharmaElan’s underperforming management was trying to defend itself against a hostile takeover by Royalty Pharma, a private equity-owned collector of biotech and pharmaceutical royalties. There were 4 proposals on the table, and if shareholders voted in favor of any of them, it would likely kill Royalty Pharma’s offer and its guaranteed returns. TN Thunderbird School of Global Management #TB0359

H B S P . H A R VA R D . E D U 1 TN Teaching Note Available

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From Dell to Lenovo? Investment Decision in the Rapidly Changing PC IndustryThe director of the investment wing of a financial services provider must decide whether his firm should continue to invest in the former front-runner in the personal computer industry or switch strategies and invest in an up-and-coming competitor. The director and his team create an in-depth assessment of the personal computer industry in order to make an informed decision about their firm’s optimum investment choices. TN Ivey Publishing #W13415

The Maple Acquisition of the TMX Group Inc.The TMX Group owned and operated Canada’s leading cash and derivatives exchanges. The vice chairman was leading a consortium of Canadian banks that planned an unsolicited bid in response to merger talks between TMX and the London Stock Exchange Group. TN Ivey Publishing #W13465

Mylan Laboratories’ Proposed Merger with King PharmaceuticalThe price at which Mylan proposes to merge with King is generous to King shareholders, but the merger does not look likely to be approved by Mylan shareholders. TN Harvard Business School #214078

Richard Lund: Personal Wealth and PhilanthropyAt age 65, Lund needed to determine what to do with the wealth that he had accumulated as a result of hard work. This case describes the challenges of philanthropy and its role in wealth management and personal objectives. Stanford Graduate School of Business #F308

The TELUS Share Conversion ProposalTELUS announced a proposal to convert nonvoting shares into voting shares on a 1-to-1 basis, thereby eliminating the firm’s dual class structure. Despite support from management, the board, two proxy advisory firms, and several large shareholders, the proposal was opposed by hedge fund Mason Capital Management. Mason controlled almost 20% of the voting shares and a large short position in the nonvoting shares and had filed a dissident proxy circular recommending that shareholders vote against the proposal. The board had to decide what to do. TN Harvard Business School #214001

Zeta Mining: Walking the DraglineZeta Mining, one of the world’s largest producers of metallurgical coal, operates a number of mines in Australia. The chief financial officer has asked the project evaluation director to make a key decision about how to remove a mine’s overburden. The director must perform an incremental comparison analysis using net present value methodology to help the CFO make a decision. Ivey Publishing #W13607

Popular Cases

Acquisition of Consolidated Rail Corp. (A)Virginia-based CSX and Pennsylvania-based Consolidated Rail announced their intent to merge in a friendly deal worth $8.3 billion. This deal was part of an industry-wide trend toward consolidation and promised to change the competitive dynamics of the Eastern rail market. TN Harvard Business School #298006

Clarkson Lumber Co.The owner of a growing retail lumber company is considering the financial implications of continued rapid growth. The magnitude of the company’s future financing requirements must be assessed in the context of the company’s access to bank finance and/or equity finance. TN Harvard Business School #297028

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Debt Policy at UST, Inc.UST, Inc., is a profitable smokeless tobacco firm with low debt compared to other firms in the tobacco industry. The case covers UST’s recent decision to substantially alter its debt policy by borrowing $1 billion to finance its stock repurchase program. TN Harvard Business School #200069

JPMorgan and the London WhaleIn the spring of 2011, JPMorgan Chase realized that its synthetic credit portfolio, which represented less than 1% of the bank’s total assets, had grown to become more than half of the bank’s total risk. An article in The Wall Street Journal would soon make it public knowledge that the bank was in a difficult situation. How could an institution known for its diligence end up in such dire straits? TN INSEAD #INS370

Merck & Co.: Evaluating a Drug Licensing OpportunityThis case explores the valuation of an opportunity to license a compound before it enters clinical trials and describes Merck’s decision tree evaluation process. The case provides students with the costs of the three phases of the review process, the revenues if approved, and the probability of various outcomes. TN Harvard Business School #201023

The Tip of the Iceberg: JPMorgan and Bear Stearns (A)This case covers the corporate finance issues of capital and liquidity and of firm valuation. It allows students to explore aspects of a firm’s internal and external governance, as well as the challenges of navigating through a crisis when faced with compelling pressures from competing stakeholders. TN Harvard Business School #309001

Toy World, Inc.A shift from seasonal to level production of toys will change the seasonal cycle of Toy World’s working capital needs and necessitate new bank credit arrangements. TN Harvard Business School #295073

Æ Find more cases at hbsp.harvard.edu

Brief Cases

Rigorous and compact, Harvard Business School Brief Cases present realistic management challenges for students to discuss. Audio versions are available for select Brief Cases to aid in student preparation.

NEW! Newfield EnergyAn energy company has experienced declines in earnings because of the decline of natural gas prices and asset write-downs. The CEO must prepare financial proposals for the board’s approval, including a plan to divest several projects immediately, a significant reduction of common stock dividends, and an exchange offer. TN #914541

NEW! Larry Steffen: Valuing Stock Options in a Compensation PackageNew MBA graduate Larry Steffen has accepted a job offer from Athena Global Technology but must now choose 1 of 2 compensation plans. The first plan includes a base salary plus a $25,000 cash bonus, and the second includes the same base salary plus employee stock options. Steffen must estimate the value of the stock options and consider whether he will remain at Athena for the five-year vesting period. TN #914517

TN Teaching Note Available L Audio Version Available

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4 F I N A N C E • 2 0 1 5 *Reviews available to Premium Educators

MOST POPULAR Blaine Kitchenware, Inc.: Capital Structure A kitchen appliance maker contemplates using excess liquidity and additional borrowing for a stock repurchase following a takeover bid. The firm considers how increasing leverage affects cost of capital, firm value, and share price. TN #4040 L

Ceres Gardening Company: Funding Growth in Organic Products An aggressive player in the organic gardening industry offers steep discounts and vendor financing to its retailers in an effort to increase market penetration. Students analyze the company’s financial statements and make projections. TN #4017 L

Flash Memory, Inc. A small firm in the computer and electronic device memory market must invest heavily in new product development to stay competitive. The CFO prepares plans for investing and financing over the next 3 years and considers alternatives for additional funding. TN #4230

“The combination of analytical and strategic challenges in the case proved a great capstone to what my course truly focuses on: the cogent expression in words of what the financial numbers signify.”—Case review from Harvard Business Publishing for Educators web site*

Groupe Ariel S.A.: Parity Conditions and Cross-Border Valuation Groupe Ariel evaluates a proposal from its Mexican subsidiary to purchase and install cost-saving equipment at a manufacturing facility. Corporate policy requires a discounted cash flow (DCF) analysis and an estimate for the net present value (NPV) for capital expenditures in foreign markets. TN #4194 L

MOST POPULAR Hansson Private Label, Inc.: Evaluating an Investment in Expansion A manufacturer of private-label personal care products must decide whether to fund an unprecedented expansion of manufacturing capacity. This case requires students to complete a fundamental analysis of the project, including the development of cash flow projections and net present value (NPV) calculations. TN #4021 L

Harmonic Hearing Co.Two employees from a small manufacturer of hearing aids consider purchasing the company from the founder. While the decision to purchase Harmonic is easy for them, arranging financing proves more difficult. Two financing alternatives are presented: 1 is virtually all debt financed, the other all equity. The financing structure will significantly affect future products and firm performance. TN #4271

Hill Country Snack Food Co. The CEO of a snack food company believes in maximizing shareholder value by maintaining large cash balances and funding new initiatives internally using equity finance over debt finance. As he approaches retirement, analysts and investors want the company to adopt a more aggressive capital structure. TN #913517

NEW! Jackson Automotive SystemsJackson Automotive Systems experiences a bottleneck in production of key electronic components and is unable to repay its outstanding debt to the bank. In addition, the firm must replace aging equipment to avoid future production delays. Jackson’s president approaches the bank for an extension to repay a loan and for an additional loan to cover the new equipment purchase. He must prepare a presentation on the firm’s financial position. TN #914505

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MOST POPULAR Jones Electrical Distribution Despite several years of rapid sales growth and good profits, Jones Electrical Distribution experiences short-term cash shortages. As the company increasingly relies on loans from the bank to cover expenses, the owner weighs managing growth against the need for additional financing. TN #4179 L

MOST POPULAR Mercury Athletic: Valuing the Opportunity The head of business development at Active Gear Advantage, a midsize athletic footwear company, considers the opportunity to acquire Mercury Athletic and double the size of his business. Students gain exposure to basic discounted cash flow (DCF) valuation using the weighted average cost of capital (WACC). TN #4050 L

MOST POPULAR Midland Energy Resources, Inc.: Cost of Capital A senior VP for a global oil and gas company must determine the weighted average cost of capital (WACC) for the company as a whole and for each of its divisions. Students become familiar with WACC, the capital asset pricing model (CAPM), and associated data and formulas. TN #4129 L

Monmouth, Inc. A leading producer of engines and massive compressors for the natural gas industry considers whether to acquire a tool company. Students must choose an approach for valuing the company and consider how the offer should be structured and implemented. TN #4226

MOST POPULAR New Heritage Doll Company A midsize, privately owned domestic firm evaluates 2 investment alternatives. The case explores basic issues in capital budgeting and requires students to analyze financial information from competing capital budgeting projects and choose a single investment project. TN #4212

Pacific Grove Spice CompanyA manufacturer, marketer, and distributor of spices and seasonings utilizes debt to fund the necessary growth in assets to support sales. The bank is concerned about the amount of interest-bearing debt on the firm’s balance sheet and asks the firm to reduce it. TN #4366

Polar Sports, Inc.A fashion skiwear company generates over 80% of its sales between September and January and relies on seasonal production to respond promptly to customer orders. The VP of Operations considers the costs and benefits of switching to level production. TN #913513

Sterling Household Products CompanyA manufacturer of laundry soap, cosmetics, cleaning products, and other consumer goods considers acquiring the germicidal and sanitation product unit from a company in the health care industry. TN #913556

MOST POPULAR Valuation of AirThread ConnectionsA senior associate in the business development group at American Cable Communications prepares a valuation for acquiring AirThread Connections, a regional cellular provider. This case can be used as a capstone valuation exercise for first-year MBA students in an introductory finance course. TN #4263

TN Teaching Note Available L Audio Version Available

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Winfield Refuse Management: Raising Debt vs. EquityA small, publicly traded company specializing in nonhazardous waste management considers a major acquisition. The CFO wants the company to reconsider a long-standing policy to avoid long-term debt and fund the acquisition through a bond issue. TN #913530

Æ Find more Brief Cases at hbsp.harvard.edu/list/brief-cases

ARTICLES

Articles from Harvard Business Review and other renowned journals provide up-to-the-minute ideas from the best business thinkers.

New Articles

Conscious Capitalism Firms: Do They Behave as Their Proponents Say?Proponents of the Conscious Capitalism (CC) movement argue that CC firms should demonstrate a lower gross margin; a higher profit margin; lower sales, general, and administration expenses; and a lower marketing expense than non-CC comparable firms. This article shows that empirical evidence largely contradicts such assertions. California Management Review #CMR528

Putting Integrity into FinanceThe persistence of scandals indicates that the field of finance requires a transformation. A core issue is the lack of recognition that integrity is a key factor for success. The authors define integrity for individuals, organizations, and objects and call for leaders to identify unethical behavior as it happens. Rotman School of Management #ROT229

Using Social Media to Report Financial ResultsThe growing influence of social media on financial performance reporting creates opportunities and challenges for both executives and corporate communication teams. Business Horizons #BH591

Popular Articles

Are Your People Financially Literate?Asked to take a basic financial literacy exam, a sample of U.S. managers scored an average of only 38%, which doesn’t bode well for individuals or their organizations. Harvard Business Review #F0910D

Institutions, Politics, and Non-Market StrategyOliver Williamson is best known for his work developing the theory of transaction costs and their implications for the organization of economic transactions. His contributions, however, have broader implications for all forms of social organization. California Management Review #CMR450

Islamic Banking Lessons for the Financial SectorThe financial crisis that started with the demise of Lehman Brothers in 2008 and almost brought the world economy to its knees has prompted international financial institutions to do some serious soul-searching. This article analyzes how faith-based values have shaped some of the unconventional products and services that Islamic banks offer. IESE-Insight Magazine #IIR059

6 F I N A N C E • 2 0 1 5 *Reviews available to Premium Educators

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Real-World Way to Manage Real OptionsMany companies hesitate to apply options theory to initiatives such as R&D and geographic expansion, partly because these “real” options are highly complex. In this article, the authors argue that the complexity of real options can be eased through the use of a binomial valuation model. Harvard Business Review #R0403G

Stock Market Signals to ManagersManagers must stop arguing about whether the market has valued their company’s stock price fairly and learn to interpret what share prices tell them about market expectations of a company’s future performance. This article presents a “market signals approach” that allows management to compare its own plans with those of the market. Harvard Business Review #87611

Why Forecasts Fail. What to Do InsteadAlmost no one saw the 2008 economic crisis coming. In this article, the authors come to terms with the reality that, in economics and business, accurate forecasts aren’t possible. Therefore, managers need to develop a different attitude about the future. MIT Sloan Management Review #SMR343

SIMULATIONS

Online simulations present real-world management challenges for students and encourage classroom interaction and discussion. Results are available immediately for a comprehensive debrief session. All simulations include a detailed Teaching Note.

Finance Simulation: Blackstone/Celanese This team-based simulation, based on the landmark acquisition of Celanese AG by the Blackstone Group in 2003, teaches principles of private equity finance. Students play the role of either Blackstone or Celanese and conduct due diligence, establish deal terms, respond to bids and counterbids, and consider the interests of other stakeholders. Seat Time: 120 minutes TN #3712

Finance Simulation: Capital Budgeting In this single-player simulation, students assume the role of a member of the capital committee at a high-end doll manufacturing company. Students review 27 different proposals over 5 simulated years and must choose projects with the greatest impact on the firm’s profitability. Seat Time: 60–90 minutes TN #3357

“This simulation is an essential and very handy tool to show practical application of concepts like NPV, IRR, and cost of capital.”—Simulation review from Harvard Business Publishing for Educators web site*

Finance Simulation: M&A in Wine Country Students play the role of CEO at 1 of 3 wine producers: Starshine, Bel Vino, or International Beverage. They must determine value targets and reservation prices and negotiate deal terms before deciding to accept or reject final offers. This team-based simulation teaches core principles of valuation, M&A strategy, and negotiation. Seat Time: 90 minutes TN #3289

“Gets students working on the nuts and bolts of strategy decisions and figuring out their financial impact. I like very much that students can see in real time the effect of their ideas on stock prices and company valuation.” —Simulation review from Harvard Business Publishing for Educators web site*

H B S P . H A R VA R D . E D U 7 TN Teaching Note Available

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NEW! Working Capital Simulation: Managing Growth V2In this single-player simulation, students act as the CEO of a small business that distributes vitamins. They must choose to invest in growth opportunities while also considering working capital requirements and improvements to cash flow. A successful strategy requires an understanding of the relationships among the financial statements. Seat Time: 60 minutes TN #7070

“My undergraduate students thoroughly enjoyed this simulation because it brought together multiple facets of material we had studied. The key was seeing the interaction of factors and the impact of any 1 strategic decision. This simulation drove home those concepts better than any other method I have tried.” —Simulation review from Harvard Business Publishing for Educators web site*

Æ Find more simulations at hbsp.harvard.edu/list/simulations

BOOKS & CHAPTERS

Individual chapters may be integrated into course materials, while books may serve as primary class texts. Many academic titles from Harvard Business Review Press are now available as eBooks. Each eBook title is available as a PDF and comes with a full-text Educator Copy available to registered Premium Educators on the HBP for Educators web site.

Ben Bernanke’s Fed: The Federal Reserve after Greenspan Ben Bernanke is considered by many to be the world’s most powerful economist. This book offers an in-depth study of the policies, strategies, and actions of Bernanke as chairman of the Federal Reserve and explores how the Federal Reserve analyzes and manages the economy. Available in chapters. Harvard Business Review Press #2584

Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to KnowHarvard Business School Professor David Moss presents the most important macroeconomic concepts in engaging, clear, and concise terms. The book includes powerful tools for understanding large-scale economic developments that shape events in the business arena. Available as eBook and in chapters. Harvard Business Review Press #1797

Finance Basics (20-Minute Manager Series)The numbers and jargon in corporate finance can feel overwhelming, but managers must understand them in order to be effective. Finance Basics explains the fundamentals simply and quickly, introducing students to key terms and concepts. Harvard Business Review Press #16864

Financial Intelligence, Revised Edition: A Manager’s Guide to Knowing What the Numbers Really Mean This book provides a solid foundation in the core concepts of finance along with practical strategies for improving company performance. Available as eBook. Harvard Business Review Press #10833

8 F I N A N C E • 2 0 1 5 *Reviews available to Premium Educators

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HBR Guide to Finance Basics for ManagersThis book is a guide to the fundamentals of finance from understanding the difference between the income statement and balance sheet to performing an effective cost-benefit analysis. Available as eBook. Harvard Business Review Press #11185

Understanding FinanceThis book places special emphasis on understanding the essential concepts of finance, including budgeting, forecasting, and planning. It explains how to analyze the 3 financial statements and calculate ratios to understand the financial health of a company. Available as eBook. Harvard Business Review Press #13197

Winning Investors Over: Surprising Truths about Honesty, Earnings Guidance, and Other Ways to Boost Your Stock PriceThis book demonstrates that despite the uncertainty that characterizes Wall Street, one can still craft a mutually beneficial, long-term partnership with investors. Harvard Business Review Press #1502

Æ Find more books and chapters at hbsp.harvard.edu/list/book-chapters

ONLINE COURSES

Available in Sections. Online Courses introduce complex subjects and can be used in advanced undergraduate business courses, as pre-matriculation requirements for MBAs, or assigned as homework over a semester or year. Online Courses are available as complete courses or in sections.

Finance This course introduces core concepts in finance, ranging from ratio analysis to valuation and from pro forma estimating to capital structure. The story line provides a meaningful and engaging context in which students learn the material. Seat Time: 13–15 hours TN

� Complete Course #208719

� Introductory Section #6000

Mathematics for ManagementFollowing the story line of several family-owned businesses, students learn how to apply math concepts to solve problems, analyze data, and predict outcomes. Seat Time: 12–20 hours TN

� Complete Course #3350

� Algebra Section #6004

� Calculus Section #6006

� Statistics Section #6007

� Probability Section #6008

� Finance Section #6009

H B S P . H A R VA R D . E D U 9 TN Teaching Note Available

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Quantitative MethodsSet in a Hawaiian resort, this course teaches statistics and regression analysis from a management perspective. Students develop statistical models for making better business decisions. Seat Time: 20–50 hours TN

� Complete Course #504702

� Regression Section #6012

“The Quantitative Methods Online Course is a perfect support for teaching quantitative analysis.” —Online Course review from Harvard Business Publishing for Educators web site*

NEW! Spreadsheet Modeling: Excel 2013This course shows students how to use Microsoft Excel 2013 as both a reporting tool and a modeling tool for solving business problems. It is appropriate for beginning and advanced users of Excel. Seat Time: 10–20 hours TN

� Complete Course #9052

� Introductory Section #9053

� Advanced Section #9054

Spreadsheet Modeling: Excel 2007 also available. Complete Course #3252

Æ Find more Online Courses at hbsp.harvard.edu/list/online-courses

COURSE MODULES

Course Modules offer a road map to the best teaching materials, with recommendations on how to organize them. Each module suggests 4 to 6 items plus some alternate suggestions. Popular modules in Finance have all been recently updated and include the following:

� Capital Structure � Company Valuation � Corporate Restructuring � Mergers and Acquisitions � Net Present Value and Capital Budgeting � Real Options � Risk Management � Risk, Return, and Cost of Capital

Æ Find more Course Modules in Finance at hbsp.harvard.edu/list/course-module

10 F I N A N C E • 2 0 1 5 *Reviews available to Premium Educators

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VIDEO SHORTS

These free, short videos are all under 10 minutes long and illustrate a case’s central learning objective. The streaming videos are available to registered Premium Educators at hbsp.harvard.edu. Cases with Video Shorts include:

� Beacon Lakes #805023

� Cable & Wireless America #908004

� Jedi Bank #396327

� Millegan Creek Apartments #395118

� Real Property Negotiation Game: Lender Case, Porus Bank #209031

� Savannah West #381081

Æ Find more Video Shorts at hbsp.harvard.edu/list/videoshorts

H B S P . H A R VA R D . E D U 11 TN Teaching Note Available

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Case Analysis CoachIDEAL FOR STUDENTS NEW TO CASE LEARNING

Seat Time: 30–120 minutes (depending on the depth of analysis desired)

#4380

Premium Educators registered at hbsp.harvard.edu can see a Free Trial.

Not registered? APPLY NOW educatoraccess.hbsp.harvard.edu

The Case Analysis Coach is a self-paced tutorial that offers a concise introduction to the key concepts required for the analysis of business case studies. Delivered entirely online, the tutorial offers a framework that will prepare students for situations including formal presentations, written reports, “cold calls” during classroom discussion, and final exams.

The tutorial requires students to interpret both qualitative and quantitative data and develop short- and long-term action recommendations. It also includes a Case Analysis Worksheet that students can use repeatedly to analyze actual cases assigned for coursework.

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CONTACT US:

Harvard Business Publishing, India +91 22 6516 0248 [email protected] hbsp.harvard.edu

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