10-K Integration Project Information This project is designed to set the stage for developing your skills as a strategy analyst. You will analyze a publicly-traded company that will be relevant to you and your team as you embark upon client work throughout the semester (industry analyses and firm analyses). Publicly traded companies file disclosures with the SEC, and you will access these disclosures in the form of 10-K reports. Below is a list of firms from which you can choose for this analysis, all of which are related to the industry we will be focusing on this semester. You and your team will decide which of these firms each team member will examine. Your report will be submitted to your lab instructor for evaluation, based on the criteria below. However, it will also become part of your company library, to be shared with the team as you embark on other projects later in the semester. Our focal firm this semeseter is Verizon Communications, Inc. (SIC 4813 Telephone Communications - not including radio telephone). Here are the five major firms competing in that sector: Verizon (NYSE VZ); AT&T (NYSE T); Sprint (NYSE S); T-Mobile USA (NASDAQ TMUS); U.S. Cellular (NYSE USM) (U.S. Cellular is much smaller than the \"Big Four\") In the \"Competition\" section of Verizon's 10-K they list not only AT&T, Sprint, and TMobile by name as central competitors, but also these technology firms: Microsoft (NASDAQ MSFT); Google (actually, Alphabet, Inc.) (NASDAQ GOOG); Apple (NASDAQ AAPL) You may select from among any of these firms for your 10-K analysis (or with permission from your lab instructor, some other firm such as a regional wireless carrier). Remember though, each member of your team will examine a different one of these firms. Here is the analysis process that you should follow for the 10-K project: After you and your team leader agree on the company you select to analyze, go to the website http://www.sec.gov/edgar/searchedgar/companysearch.html and find their latest 10-K (annual report to the SEC). Just enter the company name and click on \"find companies.\" In many cases, multiple options will pop up. For instance, if you are looking for Nike, you may find Nike Securities as well as Nike Inc. Click on the specific firm you want. Scroll down the list of filings to the most recent 10-K. Make sure it's from the past year. Click on \"documents.\" Select the \"Form 10-K\" document by clicking on the .htm file in the Document column. Note - you may also find the 10-K document you need on the website of the company that you are analyzing, typically under Investor Relations. Within the 10-K, you will find a section near the front of the document called \"Business.\" It's usually the first major section of the 10-K. Start your reading at this section, continuing through all of Part I of the 10-K. (Part I includes the Business section, but also additional sections with titles like \"Risk Factors.\" In all, Part I will usually be about 10-20 pages.) From this section of the 10-K, select one statement that best represents each of the following concepts, based on what you know of these from lecture and the text thus far. Note that you will end up with 15 total concepts: 1. Each of the PESTEL Forces: 1. Political 2. Economic 3. Sociocultural 4. Technological 5. Environmental 6. Legal 2. Each of Porter's Five Forces: 7. Current competitors (and intensity of rivalry among them) 8. Threat of new entrants (and entry/exit barriers more generally) 9. Suppliers (and their bargaining power) 10. Buyers (and their bargaining power) 11. Threat of substitute products/services (and their influence on the firm) 3. Each dimension of the SWOT areas of analysis: 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats For each of these 15 concepts please do the following: a) Clearly number and label each of the 15 concepts (1-15) b) Reproduce (copy) the statement from the 10-K that you think best represents it and note the statement by using a bold font so it's clear that it is the source statement for your work. Choose one statement, not two or three. If it is part of a long passage, excerpt the portion that you need - don't copy the entire long passage. Finally, indicate the page number from the 10-K that you took the passage from. c) Fully explain why you feel it is important to understanding the competitive position of the company. You should allocate at least one full paragraph for part c), for each of the 15 concepts. Note: If you feel that one of the concepts has little impact on the company, be clear and state that as well - don't feel compelled to find something positive about all of the concepts - let the facts lead you. Caution One: One of the most difficult concepts for a new analyst to grasp is that of supporting claims or statements made in their analysis. In short, you are analyzing only the passage from the 10-K for the section you are working on. If you make a statement about something that is not in the 10-K passage and it's not a generally known fact, you need to cite the appropriate source for your statement. For instance, if you are working on part 4, and you want to draw on a fact found in the part 2 passage from the 10-K, you still need to cite the part 2 portion of the 10-K and page number of the 10-K in your part 4 work. If you draw on an outside reference you need to properly cite the reference (use MLA or APA style). Caution Two: In general, do not make broad statements, or generalizations that are not supported by the section of the 10-K you are currently analyzing, unless you cite an outside source. That is, you should rarely use the terms never, always, forever, perfectly, or similar terms. If you state that something is more or less than something, you need to support this statement with a citation. Be precise with your thoughts and be clear in presenting them in your analysis. It is your job as the analyst to do the hard work of analyzing the 10-K for the client. If you introduce your opinion into the analysis without substantiation, you are doing the client a disservice. As a result, you may receive points deduction. Part 16A: Overall Strategy - Select one or two closely related statements from the 10-K that best identifies the company's chosen business level competitive strategy (e.g., low cost leader, differentiation, or integration). You do not necessarily have to agree with the strategy, or think it is a superior one, but you should be able to find evidence in the 10-K of the company's strategy. Copy this statement using the method noted above, and then a) provide your assessment of the competitive strategy it represents, and b) fully describe how it supports the competitive position of the company. You should allocate several paragraphs for this assessment and discussion - this is the key to your analysis. Be sure to support your claim using either the value drivers (differentiation) or cost drivers (low cost leader) identified in your text. (For even more choices than we talked about during initial training on this, see Chapter 7.) If you are struggling to make a positive identification, you may also look for clues to the company's business level strategy by analyzing their value chain (see Chapter 5). After a client reads this part of your report, the client should feel as though they have a very good understanding of the company's strategy. Part 16B: Let's call this Style Points, although the issue here is more than just style. The level of conscientiousness and professionalism you bring to assembling your report matters. So this is where things like style, spelling, punctuation, grammar, and all those other niceties that demonstrate your communications competence and attention to detail will count. Report Format: Follow a standard business format: 1 inch margins, 12 point font, double-spaced analysis (but use single space for quoting the 10-K passages). Use a clear heading for each concept. Begin with the quoted statement from the 10-K, then provide your analysis. Use the grading rubric as a cover page and include the identifying information at the top of the form (name, team name, manager's name, etc.). Check with your lab instructor for specifics on how to submit the assignment (e.g. hard copy or webcourses). 10-K Integration Project Information This project is designed to set the stage for developing your skills as a strategy analyst. You will analyze a publicly-traded company that will be relevant to you and your team as you embark upon client work throughout the semester (industry analyses and firm analyses). Publicly traded companies file disclosures with the SEC, and you will access these disclosures in the form of 10-K reports. Below is a list of firms from which you can choose for this analysis, all of which are related to the industry we will be focusing on this semester. You and your team will decide which of these firms each team member will examine. Your report will be submitted to your lab instructor for evaluation, based on the criteria below. However, it will also become part of your company library, to be shared with the team as you embark on other projects later in the semester. Our focal firm this semeseter is Verizon Communications, Inc. (SIC 4813 Telephone Communications - not including radio telephone). Here are the five major firms competing in that sector: Verizon (NYSE VZ); AT&T (NYSE T); Sprint (NYSE S); T-Mobile USA (NASDAQ TMUS); U.S. Cellular (NYSE USM) (U.S. Cellular is much smaller than the \"Big Four\") In the \"Competition\" section of Verizon's 10-K they list not only AT&T, Sprint, and TMobile by name as central competitors, but also these technology firms: Microsoft (NASDAQ MSFT); Google (actually, Alphabet, Inc.) (NASDAQ GOOG); Apple (NASDAQ AAPL) You may select from among any of these firms for your 10-K analysis (or with permission from your lab instructor, some other firm such as a regional wireless carrier). Remember though, each member of your team will examine a different one of these firms. Here is the analysis process that you should follow for the 10-K project: After you and your team leader agree on the company you select to analyze, go to the website http://www.sec.gov/edgar/searchedgar/companysearch.html and find their latest 10-K (annual report to the SEC). Just enter the company name and click on \"find companies.\" In many cases, multiple options will pop up. For instance, if you are looking for Nike, you may find Nike Securities as well as Nike Inc. Click on the specific firm you want. Scroll down the list of filings to the most recent 10-K. Make sure it's from the past year. Click on \"documents.\" Select the \"Form 10-K\" document by clicking on the .htm file in the Document column. Note - you may also find the 10-K document you need on the website of the company that you are analyzing, typically under Investor Relations. Within the 10-K, you will find a section near the front of the document called \"Business.\" It's usually the first major section of the 10-K. Start your reading at this section, continuing through all of Part I of the 10-K. (Part I includes the Business section, but also additional sections with titles like \"Risk Factors.\" In all, Part I will usually be about 10-20 pages.) From this section of the 10-K, select one statement that best represents each of the following concepts, based on what you know of these from lecture and the text thus far. Note that you will end up with 15 total concepts: 1. Each of the PESTEL Forces: 1. Political 2. Economic 3. Sociocultural 4. Technological 5. Environmental 6. Legal 2. Each of Porter's Five Forces: 7. Current competitors (and intensity of rivalry among them) 8. Threat of new entrants (and entry/exit barriers more generally) 9. Suppliers (and their bargaining power) 10. Buyers (and their bargaining power) 11. Threat of substitute products/services (and their influence on the firm) 3. Each dimension of the SWOT areas of analysis: 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats For each of these 15 concepts please do the following: a) Clearly number and label each of the 15 concepts (1-15) b) Reproduce (copy) the statement from the 10-K that you think best represents it and note the statement by using a bold font so it's clear that it is the source statement for your work. Choose one statement, not two or three. If it is part of a long passage, excerpt the portion that you need - don't copy the entire long passage. Finally, indicate the page number from the 10-K that you took the passage from. c) Fully explain why you feel it is important to understanding the competitive position of the company. You should allocate at least one full paragraph for part c), for each of the 15 concepts. Note: If you feel that one of the concepts has little impact on the company, be clear and state that as well - don't feel compelled to find something positive about all of the concepts - let the facts lead you. Caution One: One of the most difficult concepts for a new analyst to grasp is that of supporting claims or statements made in their analysis. In short, you are analyzing only the passage from the 10-K for the section you are working on. If you make a statement about something that is not in the 10-K passage and it's not a generally known fact, you need to cite the appropriate source for your statement. For instance, if you are working on part 4, and you want to draw on a fact found in the part 2 passage from the 10-K, you still need to cite the part 2 portion of the 10-K and page number of the 10-K in your part 4 work. If you draw on an outside reference you need to properly cite the reference (use MLA or APA style). Caution Two: In general, do not make broad statements, or generalizations that are not supported by the section of the 10-K you are currently analyzing, unless you cite an outside source. That is, you should rarely use the terms never, always, forever, perfectly, or similar terms. If you state that something is more or less than something, you need to support this statement with a citation. Be precise with your thoughts and be clear in presenting them in your analysis. It is your job as the analyst to do the hard work of analyzing the 10-K for the client. If you introduce your opinion into the analysis without substantiation, you are doing the client a disservice. As a result, you may receive points deduction. Part 16A: Overall Strategy - Select one or two closely related statements from the 10-K that best identifies the company's chosen business level competitive strategy (e.g., low cost leader, differentiation, or integration). You do not necessarily have to agree with the strategy, or think it is a superior one, but you should be able to find evidence in the 10-K of the company's strategy. Copy this statement using the method noted above, and then a) provide your assessment of the competitive strategy it represents, and b) fully describe how it supports the competitive position of the company. You should allocate several paragraphs for this assessment and discussion - this is the key to your analysis. Be sure to support your claim using either the value drivers (differentiation) or cost drivers (low cost leader) identified in your text. (For even more choices than we talked about during initial training on this, see Chapter 7.) If you are struggling to make a positive identification, you may also look for clues to the company's business level strategy by analyzing their value chain (see Chapter 5). After a client reads this part of your report, the client should feel as though they have a very good understanding of the company's strategy. Part 16B: Let's call this Style Points, although the issue here is more than just style. The level of conscientiousness and professionalism you bring to assembling your report matters. So this is where things like style, spelling, punctuation, grammar, and all those other niceties that demonstrate your communications competence and attention to detail will count. Report Format: Follow a standard business format: 1 inch margins, 12 point font, double-spaced analysis (but use single space for quoting the 10-K passages). Use a clear heading for each concept. Begin with the quoted statement from the 10-K, then provide your analysis. Use the grading rubric as a cover page and include the identifying information at the top of the form (name, team name, manager's name, etc.) Attach your reference article at the end of your write-up. Check with your lab instructor for specifics on how to submit the assignment (e.g. hard copy or webcourses). 10-K Integration Project Information This project is designed to set the stage for developing your skills as a strategy analyst. You will analyze a publicly-traded company that will be relevant to you and your team as you embark upon client work throughout the semester (industry analyses and firm analyses). Publicly traded companies file disclosures with the SEC, and you will access these disclosures in the form of 10-K reports. Below is a list of firms from which you can choose for this analysis, all of which are related to the industry we will be focusing on this semester. You and your team will decide which of these firms each team member will examine. Your report will be submitted to your lab instructor for evaluation, based on the criteria below. However, it will also become part of your company library, to be shared with the team as you embark on other projects later in the semester. Our focal firm this semeseter is Verizon Communications, Inc. (SIC 4813 Telephone Communications - not including radio telephone). Here are the five major firms competing in that sector: Verizon (NYSE VZ); AT&T (NYSE T); Sprint (NYSE S); T-Mobile USA (NASDAQ TMUS); U.S. Cellular (NYSE USM) (U.S. Cellular is much smaller than the \"Big Four\") In the \"Competition\" section of Verizon's 10-K they list not only AT&T, Sprint, and TMobile by name as central competitors, but also these technology firms: Microsoft (NASDAQ MSFT); Google (actually, Alphabet, Inc.) (NASDAQ GOOG); Apple (NASDAQ AAPL) You may select from among any of these firms for your 10-K analysis (or with permission from your lab instructor, some other firm such as a regional wireless carrier). Remember though, each member of your team will examine a different one of these firms. Here is the analysis process that you should follow for the 10-K project: After you and your team leader agree on the company you select to analyze, go to the website http://www.sec.gov/edgar/searchedgar/companysearch.html and find their latest 10-K (annual report to the SEC). Just enter the company name and click on \"find companies.\" In many cases, multiple options will pop up. For instance, if you are looking for Nike, you may find Nike Securities as well as Nike Inc. Click on the specific firm you want. Scroll down the list of filings to the most recent 10-K. Make sure it's from the past year. Click on \"documents.\" Select the \"Form 10-K\" document by clicking on the .htm file in the Document column. Note - you may also find the 10-K document you need on the website of the company that you are analyzing, typically under Investor Relations. Within the 10-K, you will find a section near the front of the document called \"Business.\" It's usually the first major section of the 10-K. Start your reading at this section, continuing through all of Part I of the 10-K. (Part I includes the Business section, but also additional sections with titles like \"Risk Factors.\" In all, Part I will usually be about 10-20 pages.) From this section of the 10-K, select one statement that best represents each of the following concepts, based on what you know of these from lecture and the text thus far. Note that you will end up with 15 total concepts: 1. Each of the PESTEL Forces: 1. Political 2. Economic 3. Sociocultural 4. Technological 5. Environmental 6. Legal 2. Each of Porter's Five Forces: 7. Current competitors (and intensity of rivalry among them) 8. Threat of new entrants (and entry/exit barriers more generally) 9. Suppliers (and their bargaining power) 10. Buyers (and their bargaining power) 11. Threat of substitute products/services (and their influence on the firm) 3. Each dimension of the SWOT areas of analysis: 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats For each of these 15 concepts please do the following: a) Clearly number and label each of the 15 concepts (1-15) b) Reproduce (copy) the statement from the 10-K that you think best represents it and note the statement by using a bold font so it's clear that it is the source statement for your work. Choose one statement, not two or three. If it is part of a long passage, excerpt the portion that you need - don't copy the entire long passage. Finally, indicate the page number from the 10-K that you took the passage from. c) Fully explain why you feel it is important to understanding the competitive position of the company. You should allocate at least one full paragraph for part c), for each of the 15 concepts. Note: If you feel that one of the concepts has little impact on the company, be clear and state that as well - don't feel compelled to find something positive about all of the concepts - let the facts lead you. Caution One: One of the most difficult concepts for a new analyst to grasp is that of supporting claims or statements made in their analysis. In short, you are analyzing only the passage from the 10-K for the section you are working on. If you make a statement about something that is not in the 10-K passage and it's not a generally known fact, you need to cite the appropriate source for your statement. For instance, if you are working on part 4, and you want to draw on a fact found in the part 2 passage from the 10-K, you still need to cite the part 2 portion of the 10-K and page number of the 10-K in your part 4 work. If you draw on an outside reference you need to properly cite the reference (use MLA or APA style). Caution Two: In general, do not make broad statements, or generalizations that are not supported by the section of the 10-K you are currently analyzing, unless you cite an outside source. That is, you should rarely use the terms never, always, forever, perfectly, or similar terms. If you state that something is more or less than something, you need to support this statement with a citation. Be precise with your thoughts and be clear in presenting them in your analysis. It is your job as the analyst to do the hard work of analyzing the 10-K for the client. If you introduce your opinion into the analysis without substantiation, you are doing the client a disservice. As a result, you may receive points deduction. Part 16A: Overall Strategy - Select one or two closely related statements from the 10-K that best identifies the company's chosen business level competitive strategy (e.g., low cost leader, differentiation, or integration). You do not necessarily have to agree with the strategy, or think it is a superior one, but you should be able to find evidence in the 10-K of the company's strategy. Copy this statement using the method noted above, and then a) provide your assessment of the competitive strategy it represents, and b) fully describe how it supports the competitive position of the company. You should allocate several paragraphs for this assessment and discussion - this is the key to your analysis. Be sure to support your claim using either the value drivers (differentiation) or cost drivers (low cost leader) identified in your text. (For even more choices than we talked about during initial training on this, see Chapter 7.) If you are struggling to make a positive identification, you may also look for clues to the company's business level strategy by analyzing their value chain (see Chapter 5). After a client reads this part of your report, the client should feel as though they have a very good understanding of the company's strategy. Part 16B: Let's call this Style Points, although the issue here is more than just style. The level of conscientiousness and professionalism you bring to assembling your report matters. So this is where things like style, spelling, punctuation, grammar, and all those other niceties that demonstrate your communications competence and attention to detail will count. Report Format: Follow a standard business format: 1 inch margins, 12 point font, double-spaced analysis (but use single space for quoting the 10-K passages). Use a clear heading for each concept. Begin with the quoted statement from the 10-K, then provide your analysis. Use the grading rubric as a cover page and include the identifying information at the top of the form (name, team name, manager's name, etc.) Attach your reference article at the end of your write-up. Check with your lab instructor for specifics on how to submit the assignment (e.g. hard copy or webcourses)