“Plans are Useless, Planning is Invaluable”
-- Dwight D. Eisenhower
Course code [INTA-GB.2140] was co-taught with
Professor Scott Galloway. It is not being offered now.
Objectives
--Buttress your valuation and critical-thinking skills in the pursuit of
alpha: and
--Provide insight into the technologies and platforms reshaping business.
Overview
Time: 6 PM to 9 PM
Dates: Monday, Feb 6, Feb 13, Feb 27, March 6, March 20, and March 27. No
class on Feb 20 (President’s day) and March 13 (Spring break),
This is a half-semester course with six three-hour class sessions. The
first five sessions will be lectures co-taught by Scott Galloway and Dan
Gode. The last class will be student presentations. Each class will be
split into halves. Scott Galloway will lead the first half to discuss a
strategic “narrative” that drives value, and Dan Gode will
lead the second half to discuss the numbers behind the valuation and if
the “narrative” (i.e., value) is already priced into the stock
price.
Narratives
The five class sessions will explore the following themes:
Digital IQ: How competent is the organization across 4 dimensions of
digital: Site; Digital Marketing, Social Media; and Mobile.
Amazon IQ: How effective is a company in leveraging the Amazon platform
or similar marketplaces?
Social platforms: Which platforms are gaining/losing tractions with
consumers/advertisers and why?
Death of advertising industrial complex: Traditional advertising is
losing effectiveness as consumers shift away from linear ad supported
formats to over the top services and platforms.
Multi-channel retail: The consumer does not live in isolation of any one
medium. The most successful retailers employ physical and digital
distribution, with a mobile device serving as the connective tissue.
Professor Galloway will discuss each theme and present companies that have
executed well or or poorly against the theme. Many companies will be
discussed, however two companies will be discussed in detail in each
class.
Numbers
Professor Gode will then follow-up with a detailed analysis of financial
performance and discuss if the expected success or failure of the company,
premise on the strategic narratives, is already priced in. The financial
analysis will consider the following value drivers of the company:
Net operating asset intensity: Business models, balance sheet
optimization
Business risk: Volatility and operating leverage
Financial risk: Financial policy regarding financial leverage and
liquidity
We view this course as a capstone (and fun) course that brings together
many subjects you have learned at Stern with particular emphasis on
strategy and marketing and their links to financial statements and
valuation.
Specializations
The course counts towards Marketing and Digital Marketing (Strategy track)
specializations.
Disclaimers
You need to be in the following systems before the start of the first
class:
NYU Brightspace
Stern AIS
If you are a non-Stern student, you must know how to access Stern
email and Stern wi-fi
Google groups for the class
If you are not in the above systems (which is quite likely if you
registered late), you will not be able to access the class materials
during the first class and will miss out on important
announcements.
Please do NOT contact us regarding access to any of the above
systems.
If it takes time for the systems to be updated, complain to the school
administration, not me. If someone in IT or Student Affairs tells you
that I can add students, they are wrong. We are professors, not
administrators. It is their job to fix these issues.
Only registered students will be allowed to sit in this class. We will
not grant permissions to anyone to sit in the course without being
registered in it.
Prerequisites
The course requires an understanding of strategy, marketing, operational
execution, and financial statements. Be prepared to work across
disciplines.
I use my materials. Therefore, no textbook is required, and you need not
purchase anything.
Assignments
There are case submissions due each week. You will be working in teams
of four students. Each team will be assigned one of the two companies
listed below.
Exams and Grading
If you have a qualified disability and require academic accommodation
during this course, please contact me directly. I will arrange a
separate room/time for you.
Grades will be based upon the following factors:
25%: Attendance, professional conduct in class
You will lose points for every missed class unless you have a
medical emergency, family emergency, confirmed interview, or
required work travel for Langone students. No other reasons will
be accepted unless you have pre-cleared them with Alex Gleeson
(TA).
If you have a medical or family emergency, do not worry about
the course. Take care of the emergency and email us later.
If you are more than 10 minutes late, you will be marked
absent.
Please bring your name plates to each class and sit in the same
seat.
Teams should sit together.
25%: Case write-up each week
50%: Final presentation If you have a qualified disability and
require academic accommodation during this course, please contact me
directly. I will arrange a separate room/time for you.