The recent legalization of marijuana in Colorado and Washington State offer an unusual view of industry emergence. In anticipation of pent up demand, entrepreneurs scramble to assemble resources. Scarce resources get bid up — one example in Washington is licenses to grow and sell. The second video in the sequence below features an entrepreneur seeking to sell his business to cash in on the license he has. Markets for complementary products and services are booming as well (from tourism to private security and ways to store cash that cannot be deposited into federally regulated banks). Who will win out in the scramble to exploit the opportunity? The results so far in Colorado suggest that many in the state will benefit from the boom — $11M in taxes were raised in just the first 4 months of business. The setting is bound to get students’ attention and it is a nice context to examine entrepreneurship, resource scarcity, ethics, and industry structure (among other things).
Contributed by Russ Coff

The main difference is that groups get unequal resource endowments (one group gets tape and paper, while the rest get paper clips, elastic bands and paper) and are asked to build the highest paper tower. The results lead to a discussion of how superior resources (tape) can lead to better performance if they are organized properly. The takeaway is that students need to see if their focal firm has a tape-like resource. If so, they need to make it the cornerstone of their strategy. If the focal case firm lacks a tape-like resource, then it needs to be excellent at execution if it is to have any chance at having above average performance. Students love the exercise and it is a great way to teach students why they should look for VRIO resources when doing a case analysis. A related exercise, the
These are typically closed groups but you may be able to join if you ask the moderator nicely. If you have a page like this, please send me the URL and I am happy to add it to this post. Here are a couple of pages you might check out:
We often try to convey to students how value can be created in social networks as actors gain access to more resources and knowledge. This exercise is a simple game of bingo where players have a list of resources they need to find to win the game (4 boxes in a row). To play, they simply find people in the room with specific attributes or knowledge and have them sign their card. I have added a simple twist that they can complete one box using an indirect tie (e.g., a friend of a friend). This teaches the very basics of social networks and serves as a nice ice breaker as well. Here are two Bingo card created for: 1)
Team-Maker is a tool for assigning students to teams based on instructor-specified criteria. Instructors can choose from a library of questions, such as students’ schedules or majors, or write their own questions. Team-Maker collects the information from students and allows the instructor to assign use that information to assign students to teams based on the criteria and weighting that they choose. CATME Peer Evaluation is a tool for self- and peer evaluations of students’ contributions to their teams that is based on research. The system automates the data collection and analysis and allows instructors to release feedback to students. There are many optional follow-up questions about team processes that are taken from published research. CATME Rater Calibration allows instructors to assign students to practice using the CATME behaviorally anchored rating scale by rating fictitious team members. CATME Meeting Support provides templates for team charters, meeting agendas and minutes. Teamwork training modules are in development. The website shows research and other information about these tools.
Jay Barney
Reprinted here with permission of author Jeffrey Barach along with my PointPoint slides I use to administer the case.