For Tutor_MBA INFORMATION ANALYSIS AND MANAGEMENT

S w

910E24 BINNJ ON THE APPLE IPAD

Ken Mark wrote this case under the supervision of Professor Derrick Neufeld solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of Business Foundation, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail [email protected]. Copyright © 2011, Richard Ivey School of Business Foundation Version: 2011-02-11

INTRODUCTION “I think we can all agree that the meeting with the client went very well today. In fact, all three of our initial client sales meetings have drawn overwhelming responses,” said Clay Hutcherson, founder, president and chief executive officer (CEO) of London, Ontario-based Binnj Inc.1 “They love LiveMenu™,” he declared, referring to the company’s new product, a digital restaurant menu platform (see Exhibit 1). “But the clients are almost too excited — everyone wants to participate in a pilot program, yet our product will not be ready for another two months. I’m afraid we may have let the genie out of the bottle too soon!” Hutcherson stood up from his seat and walked to the door. It was 8:15 p.m. on August 2, 2010, and the Binnj team was having their weekly JAM session in the AdVendors boardroom (see Exhibit 2). The portable projector was heating the small room rapidly, forcing Hutcherson to swing the room door back and forth in an effort to draw cooler air into the space. “Clay, we cannot wait another two months before starting the next sales calls!” protested James Hayes, Director, Sales and Marketing. Hayes was sitting straight up in his chair, his hands gesturing passionately.

Our first three client meetings were set up for us by friendly intermediaries — they were warm calls. The next ones will be cold calls. It’s going to take us much longer to get through the gatekeepers. We might be facing a sales cycle of six to 12 months, or longer.

“But I think our only option is to wait,” pushed back Nancy Philip, chief financial (CFO) and chief operating officer (COO). Philip was based in Ottawa and was joining in on the meeting via Skype. She continued:

1 Pronounced “binge”.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 2 9B10E024

What if our next sales meetings move forward just as quickly as the first three? There are good reasons why the restaurant chains we’ve approached thus far have been eager to jump on board. Yes, having introductions helped to create the marketing pitch opportunities, but it’s really the promise of our product that is resonating with the industry. If customers decide to move fast, we cannot leave them waiting for a solution that works.

Hutcherson responded:

Okay. Customer reaction has exceeded our most optimistic expectations. My personal preference is to push as hard as possible, get a test going, and start building a sales funnel. Scott, how quickly can we have the product ready for beta testing?

All eyes turned to Scott Corscadden, chief information officer (CIO). Corscadden had been typing an email on his iPhone, in preparation for a trip to Las Vegas where he was staffed on a software project for a medium-sized multinational firm. “Sorry, work stuff takes priority,” he muttered, pocketing the phone before continuing.

We need more time. Look, we are designing something here that has never existed before in digital form, and there are many issues we need to resolve before it is ready. We need to figure out how to ensure the intellectual property is protected vis-à-vis cloud-based deployment. We need to establish that sensitive information can be properly encrypted before being transmitted. We need to pay attention to Canadian privacy regulations such as PIPEDA.2 We need to continue developing the system with large-volume enterprise users in mind so that we can scale it later on.

Corscadden stopped for a breath, then continued.

Ideally, I’d want another three months to iron out all the bugs. However, if everything works out as planned with our developers, and the clients are able to provide us with the specifications on time, I’m optimistic that we can cut this down by a few weeks.

Jen Hosafros, Graphic Designer, spoke up:

Let’s not forget, each client will want something different in terms of the look and feel of their menus, although we might be able to accelerate the design process by anticipating who our future clients will be. Also, we still need to agree on what our application icon should look like. If you guys want something more than a boring fork and spoon, I will need some time to come up with something that better conveys what our brand stands for.

“Assuming we know what our brand stands for,” said Hutcherson, smiling as he scanned the faces of his team and sat down. The team members felt a keen sense of mounting excitement as they saw that their efforts during the first 100 days had started to pay off. Still, many issues had not been addressed. For example, with the exception of Hutcherson, everyone on the team had full-time jobs. In addition, as Hutcherson had reminded everyone in a recent email, “We haven’t raised any seed money yet, so now we are officially an unfunded startup.”

2 Personal Information Protection and Electronic Documents Act (PIPEDA). “Organizations covered by the Act must obtain an individual’s consent when they collect, use or disclose the individual’s personal information.” Office of the Privacy Commissioner of Canada, www.priv.gc.ca/information/guide_e.cfm, accessed September 11, 2010.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 3 9B10E024

Without warning, a loud CRACK rang out, followed by a series of rapid gunshots. The room was suddenly pitched into complete darkness. THE APPLE IPAD REVOLUTION Eight months earlier, on January 27, 2010, Hutcherson had sat at the London airport waiting for a flight. He stared at his notebook computer, watching Apple CEO Steve Jobs unveil the company’s latest device, the iPad. Hutcherson was spellbound as he watched Jobs, reclining in his leather chair, using the iPad to casually scroll through the New York Times with light finger swipes. Hutcherson had seen many technology product announcements over the years, but he knew instinctively that this device was going to change things on a profound scale. He believed that the iPad was going to fundamentally change electronic content consumption forever with its light form factor, full-screen touch-based navigation system, wi-fi and 3G network connectivity, popular productivity and lifestyle applications, access to hundreds of thousands of additional applications from the iTunes App Store, and stable and highly popular software development kit. Over the next few weeks, industry pundits began to validate Hutcherson’s initial suspicions. There was definitely an opportunity here. If only Hutcherson could figure out what it was. “As I casted about for a new venture, it became clear to me that the iPad would become an ‘end point’ for delivering content to each person,” mused Hutcherson. “I saw four options: I could create content, purchase content, license content, or steal content. Regardless, I knew it would be about monetizing otherwise undervalued content.” For weeks, he brainstormed situations in which people (including himself) consumed content frequently, and where there was an economic transaction involved. Ideas buzzed in the back of his mind, but nothing gelled. A few weeks later, as Hutcherson was driving his son to a hockey practice, he began thinking about the ways that his kids accessed and consumed content.

My son was browsing his iPhone for a new motocross helmet for the upcoming race season. Here was a 12 year old, shopping in the car, wirelessly, with his finger. “Dad that one! Look at it. It’s awesome! Look at the Monster logo on the back …” Coincidentally, I happened to be thinking about where to go out for dinner that evening. In an instant, a fresh idea struck: an iPad-based real-time electronic restaurant menu platform.

It had the basic elements Hutcherson had been searching for — a context where content was consumed frequently, and where an economic transaction was involved. Hutcherson spent the next six weeks analyzing the core idea, considering how it might work, and quite literally trying to “talk himself out of” the idea. LUNCH WITH HOSAFROS On April 3, 2010, the iPad was finally released for sale in the United States, and Hutcherson decided it was time to get feedback about his idea from a few key people. He saw the iPad as a kind of “blank canvas,” and so he reasoned, who better to “paint a picture” than an artist? He had previously worked with Jen Hosafros, a talented graphic designer, and so arranged to meet her for a lunch discussion at a local Mexican restaurant.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 4 9B10E024

After the usual informal small talk, Hutcherson got down to business. “Jen, take a look at your menu. Is there anything wrong with it?” They were sitting beside the buffet table and it was 1 p.m. in the afternoon. Hosafros hesitantly picked up the laminated menu and unfolded it. A moment of silence passed as she scanned the menu. “You know, it’s interesting … even though I design restaurant menus, as a patron I don’t really stop to think much about them from a design point of view. Maybe it’s because I’m too hungry,” she laughed. Hutcherson was enthused:

Exactly my point! Restaurant menus haven’t changed since their earliest handwritten days, and no one ever really stops to think about them. From breakfast diners, to high-end Michelin-starred restaurants, to hundred-location chains … everyone uses the same kind of traditional, printed, boring menus. And yet, the menu is the single most important selling opportunity for a restaurant. Why don’t we pay more attention to it?

Intrigued by Hutcherson’s passionate proclamation, Hosafros was now studying her menu with a designer’s eye. “The colours on this one have faded. And the graphics and typography could use some freshening. This page seems unbalanced — the box here could be a bit smaller. Pretty typical of restaurant menus actually.” She continued paging through the menu. “And it would be nice to see some pictures of the food. I’ve never eaten here.” Hutcherson jumped in: “OK, so imagine that we can tear up this menu and start again from scratch. Imagine if we never knew that printed menus even existed, and now we have this iPad device.” Hosafros had heard of the iPad, but she did not know much about it. Hutcherson spent a few minutes describing the basic iPad concept, and then continued:

Now, imagine having this iPad, this digital blank canvas with no rules or limitations. What would it be like to create a new kind of restaurant menu on this new blank canvas? Is it the kind of project you’d like to work on?

Hosafros’s mind was working. “So … rich colourful images, hyper-linked pages, video, maybe audio, all kinds of engaging content …” She had been staring at her paper menu, but finally looked up at Hutcherson. “Absolutely. I think any creative type would be thrilled to work on such a blue sky project,” said Hosafros. Then, more cautiously, “But you know, I’m really just a graphic designer. I don’t know anything about writing software.” Hutcherson reassured Hosafros:

Not a problem! In fact, I believe it’s an opportunity. This project needs an artist who won’t be constrained by preconceived notions about what the technology allows or doesn’t allow. Too many projects involving technology become engineering-centric. This one must become design-centric.

“In that case, I’d love to help out,” replied Hosafros enthusiastically. “When do we start?”

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 5 9B10E024

ASSEMBLING THE TEAM Returning to his Richmond Street office after lunch, Hutcherson scanned his email inbox and saw that Hosafros had already sent a follow up thank you note from her iPhone. He also had three new messages, each containing the word “Contract” in the subject line. Hutcherson had recently completed some major long-term consulting projects, one as the turnaround chief information officer (CIO) at a large U.S. bakery conglomerate, and another as a technology and market advisor for a global intellectual property bank. As soon as he left these projects, new consulting opportunities had begun to roll in, but Hutcherson found himself far more curious about the implications of this disruptive technology and the prospects of building a new company. He deferred the emails, and instead composed three new messages.

“Nancy, got an idea. Please let me know when you have time to chat.” “James, let’s meet asap — I have an idea I would like to bounce off you.” “Scott, new tech idea brewing. When are you around London again?”

SKYPE CALL WITH PHILIP Late that night, as Hutcherson worked in his home office, a soft “ding-ding” came from his computer speakers and a message box indicated an incoming Skype call from Nancy Philip. Philip was a Chartered Accountant, a senior executive with an Ottawa-based technology company, and a former MBA classmate. Hutcherson clicked on the Skype icon and picked up the headphones. “Hey Nancy,” he said, “working late I see?” “Yes actually, I just got home,” she replied. “I saw your email and thought I’d give you a try. I’m surprised you’re still up — it’s after midnight. What’s up?” “What do you know about the Apple iPad?” Hutcherson briefly outlined his idea for recreating the restaurant menu experience, and then ended with a question. “What do you think?” “Wow, interesting,” offered Philip. “Sounds like it’s right up your alley. But why would a restaurant want to switch from a traditional menu? Cost savings? How much do restaurants spend on printing menus now — and aren’t iPads quite expensive?” Hutcherson replied,

Great questions! I’ve done some initial research and talked with a restaurant industry contact who has enlightened me with a few facts. Printed menus are not cheap — a typical restaurant location spends about $12,500 per year to print a batch of menus, so a chain might spend several hundred thousand per year. But the cost of printed menus pales in comparison to the effects of making an error because of a bad assumption or an incorrect prediction, and you wouldn’t believe the stilted processes that restaurant chains must go through to update their menus. Head office

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 6 9B10E024

execs might meet once or twice a year to discuss the food lineup, develop new recipes and marketing materials, and arrange for menus to be printed, bound and distributed. They put a huge amount of effort into making sense of past trends, and anticipating what customers might want in the future. What raw materials will be available? How much will costs fluctuate? Which brands of wines and beers should be stocked? What’s going to happen to labour costs? What about special promotions? The list of variables goes on and on, and everyone feels nervous. Because once the menu is printed, the restaurant is locked into fixed prices for extended periods of time. They have one shot at getting it right. Decisions often come down to educated guesses and gut feels, with little hard data to back them up.

Philip cut in. “OK, I think I’m getting it. An electronic menu will give the chain tighter control over their menu. And if changes can be made and updated at any time, costly mistakes can be avoided. This would drive down risk.” She seemed to be talking out loud, so Hutcherson let her continue. “Anything could be adjusted at any time. New items could be added. Old items removed. Ingredients changed.” Philip stopped for a moment, then asked quietly, “Clay, dynamic pricing?” Hutcherson smiled. Within minutes, Philip was indeed getting it.

Absolutely. With traditional menus, chains have no way to enable zone pricing, or to offer temporary features or discounts on an item to manage inventory levels, or to take advantage of variable pricing based on demand. Why not charge a dollar or two more for a shrimp appie or steak entrée on the weekends? This incremental revenue would go directly to the bottom line. And all of the consumer level data would be captured and used for future decision-making. Think labour scheduling. Inventory management. Multi-language support. My intention is not to tell a restaurant how to make food or how much to charge customers, that’s their business. But I can imagine a platform — let’s call it LiveMenu™ — that will give them a way to experiment, to learn, and to increase their profitability.

Hutcherson paused again, and noticed a wall clock ticking in the next room. He finally broke the silence, “Nancy?” “It’s dazzling. I haven’t heard of an idea like this in a very long time. It looks like you’ve got a startup on your hands!” declared Philip. “Not sure about that yet,” breathed Hutcherson, leaning back in his chair. “I’ve seen too many startups with wild ideas crash and burn. I’m thinking of treating this more like a science experiment. A 100-day, carefully planned, team-based science experiment.” “So you’re not going to raise money now?” Philip asked. “Not yet. First we need to find out if the idea has any legs.” Philip noted Hutcherson’s use of the word “we.” He continued:

Everyone I’ve talked to loves the idea, but then no one I’ve talked to has any stake in it. We need to get a quick prototype in front of a real client to see whether we’re on to something. We also need to do the heavy lifting to learn about the restaurant business, so we can temper large assumptions with real data.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 7 9B10E024

Hutcherson rubbed his eyes and glanced at his computer clock. He had a conference call scheduled with his colleagues in the United Kingdom at 4 a.m., just a few hours away. If he wanted to seriously explore the LiveMenu™ idea, he would have to put all of his consulting work on hold for now.

I want to assemble a team to explore this idea, quietly, with the understanding that each of us is putting in nothing but our extra time. At the end of the 100 days, we can figure out if we have something, and whether or not it’s worth pursuing.

“Nice. No sense taking unnecessary risk,” agreed Philip. “Who do you have in mind for this?” Hutcherson responded immediately:

I need you to join in, obviously. I need your rational yet creative mind. If this thing takes off, we’re going to need someone who has not only top-flight financial management credentials, but also expert capacity to effectively manage and control this kind of organization. What do you say?

“It’s been a few years since I’ve worked on a science experiment,” smiled Philip. “It sounds like fun!” DRINKS WITH HAYES Early the next morning, Hutcherson received a text message from James Hayes. “Clay, I’ll buy you a beer this afternoon at the usual spot, say 4 pm?” Hutcherson responded affirmatively. The “usual spot” was a steakhouse chain, and potential customer brand, just on the east side of Richmond Street. Hutcherson and Hayes were classmates from their MBA days five years earlier, and they had not seen each other for several months. Hutcherson found Hayes already sitting at a table when he arrived. “I heard from our friends that you’ve been living on an airplane,” laughed Hayes. “How do you like the consulting life?” Hutcherson shook his head and grinned. “It’s really great … for now. Most of it is interesting work. But it sure takes a toll physically, and on the family.” “You have better ideas than globetrotting and making a few hundred bucks an hour?” Hayes cut to the chase. From the urgency in Hutcherson’s message, Hayes sensed, correctly, that this meeting was not just a social call. Besides, Hayes was in the midst of organizing Canada’s only poker consumer show in Toronto, and he had at least 20 different things to do. “I do,” said Hutcherson. “It’s not yet a fully-formed idea — more the beginning of an idea. But as far as I can tell, and at the scale I am thinking, no one has jumped on it yet. It’s about the next iteration of the restaurant menu.” At that moment, a waiter arrived and handed them menus. Both men ordered a beer, and Hutcherson continued:

Look, you know as well as anyone how rapidly the online world has developed. The restaurant industry is no different. The Internet is loaded with restaurant advertisements and promotional campaigns. Online takeout and delivery systems have become commonplace. People use the Web to read and write independent restaurant reviews. Diners use smart phone apps to make reservations and upload restaurant-specific photos.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 8 9B10E024

Hayes nodded as he listened, then offered:

Absolutely. Technology has had a huge impact on the restaurant industry, and really the entire entertainment sector. From a marketing perspective, the effectiveness of broadcast media — radio, television, newspapers, billboards and the like — is rapidly declining. This trend is driving advertisers away from broadcasting, and toward “narrowcasting” — focusing unique messages with ever-increasing precision and sophistication.

“Right, exactly,” acknowledged Hutcherson. “James, you’re a marketing guy. Would you agree that organizations generally prefer to have one-to-one relationships with their customers whenever possible?” “Theoretically speaking, sure, absolutely,” agreed Hayes. “Closer relationships allow organizations to serve their customers in the best possible ways, which in turn drives organizational value,” Hayes stopped. “Clay, what does all this have to do with restaurant menus?” “SoloCasting™,” Hutcherson responded. He continued:

Imagine if restaurant owners had complete control to customize their restaurant menu? Imagine if a patron could be presented with up-selling and cross-selling recommendations, wine pairings, and specific promotions on a location-by-location basis, or by time of day? Imagine if a negative dining experience could be corrected as soon as it occurred? Imagine if a menu was instantly presented in a patron’s first language? Imagine if a customer could pay when they wanted, rather than having to wait for the server?

Hayes listened in fascination as Hutcherson went on to describe the LiveMenu™ idea. In less than two minutes, he was sold. “That, my friend, is one very cool idea.” Hayes started to sip his beer as he collected his thoughts. The bar was filling up with patrons who had just finished work. “What about the cost of the iPad? Won’t that be a sticking point for restaurant owners?” Hutcherson replied:

Good question and I don’t know. Depending on configuration options, an iPad cost $600 to $800, and we know that Apple doesn’t do volume discounts. But we also know that the cost of the Apple iPhone has steadily dropped since its introduction, so we can probably anticipate something similar for the iPad. Worst case, we could simply rent the iPad hardware to restaurants for a dollar or two a day per device if necessary. Look, I don’t have all the answers, but I don’t believe the cost of the hardware needs to be a barrier.

“I could see this as a complete sales tool, just like the point-of-sale systems that so many other retailers are moving towards,” said Hayes, then he paused. “To be honest though, I really don’t know much about the restaurant industry, or even who the major players are.” Hutcherson chuckled:

Neither do I! But maybe that’s not a bad thing. Maybe our lack of industry knowledge could actually be a kind of strength for us, because we won’t be tied to traditional ideas? Kind of like, “we won’t know what we can’t do,” if you know what I mean? Lack of knowledge is a great starting point for asking “stupid questions” and challenging

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 9 9B10E024

conditioned behavior. Besides, as restaurant customers ourselves, we’re ultimately the users. We understand the process implicitly.

“Do you have anyone looking at the sales side?” asked Hayes. “That’s why we’re having this beer!” Hutcherson smiled at Hayes, “Are you up for some fun?” Hayes smiled back. He looked at his BlackBerry and noticed that another dozen people had emailed him about the poker expo. Now instead of 20 items, he had 30 things to do. “My poker expo is next week,” said Hayes. “I really can’t commit to anything until a week after it’s over. If the idea is still alive, can we talk after that?” “Sure,” said Hutcherson. “I am still in the early stages, but I want to get some forward momentum happening asap.” Hutcherson finished his drink and set down the glass. “This round’s on me.” COFFEE WITH CORSCADDEN The next day, Hutcherson sat at a trendy coffee shop, playing with his new toy. iPads were not yet available for sale in Canada, but an American friend had special-ordered two of the devices, and Hutcherson had just returned from a quick drive over the border to pick them up. He was excited to show off the device to Scott Corscadden, a crackerjack software engineer with whom Hutcherson had worked on several past projects. When he saw Corscadden enter the coffee shop a few minutes later, Hutcherson slipped the iPad into his briefcase, and joined Corscadden in the lineup. As the two shook hands, Hutcherson asked, “So Scott, I hear you’re working in Vegas these days?” “That’s right,” replied Corscadden, “though most of my time seems to be spent in the air, or stuck in an office!” The two chatted collegially about work and family. As they sat down, Corscadden got right to the point. “Tell me about the project.” Hutcherson quickly explained his LiveMenu™ ideas in terms of the business strategy and technology architecture, while Corscadden began sketching out flow diagrams on a napkin. Thirty minutes and three napkins later, Corscadden was sold on the concept. Suddenly Hutcherson pulled out the iPad. “You dog!” exclaimed Corscadden. “How did you score one of these so quickly?” Hutcherson smiled mysteriously, then turned serious:

Look, Scott, you know the drill. We need to develop this app, with supporting back-end enterprise infrastructure, very quickly. I’m developing a 100-day plan to prove or disprove this concept. At the end of that time, my intention is that we either walk away from this, or take a live, feasible business idea to the next level. Think you can assemble a part-time, unpaid development team?

Corscadden was only half listening. As he scrolled around on the iPad, his mind was moving quickly. Hutcherson added, “By the way, I’ve got another one of those for you out in the car, if you’re interested in burning a little weekend time.”

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 10 9B10E024

Corscadden looked up. Hutcherson had his full attention. Corscadden nodded:

I’m ready. And I know two guys who will be perfect for this project. Sam Maloney is an expert at developing server-based web applications using open source technology, and Michael Kernahan is a gifted application developer. Both have developed successful iPhone apps in the past. They also have their own talent networks, so we’ll be able to quickly grow the technology team if and when we need to.

Hutcherson grinned:

Perfect! I want to set this up so that each person on the team has complementary tasks. No one getting in anyone else’s way. Management will set the direction and manage the various projects. Design will establish the desired look and feel of the user interface. Your tech team will translate the requirements into specific tasks for application development. Sales and marketing will test market assumptions and provide regular status updates as it interacts with potential clients.

Corscadden nodded once, and Hutcherson continued. “Of course, information technology will be instrumental to building the front-end interface, as well as the back-end database and infrastructure, for the LiveMenu™ product. How would you see this rolling out?” “Let me guess,” Corscadden replied, “we have no money yet, right? And you want a product with pretty much full functionality in 100 days …”. Hutcherson just nodded. Corscadden continued:

OK. Well one thing is for sure — the waterfall method is out. Taking the time to map out all the detailed requirements in advance, around hardware, software, data structures, process flows, documentation and so on, will not allow us to get to the goal line in 100 days. Just assembling a complete set of customer requirements for an enterprise-class project like this would take months, and would have to happen before a single line of code was written. And I wonder, will customers even understand or be able to articulate what their ‘requirements’ are, for a disruptive product like LiveMenu™? The traditional approach would take 18 months, minimum, and then we’d probably just be in beta testing.

“Agreed,” interjected Hutcherson. Corscadden continued:

This project clearly calls for an agile development approach. Rather than spending a lot of time planning, we will jump directly to doing. We are talking about changing things and there is very little available in terms of a roadmap — I mean, the device has not even started shipping in Canada yet! The tech team will start with your initial ideas and assumptions, and we will immediately begin writing code. We will make a huge number of mistakes because we don’t have a very accurate idea about the requirements. However, while my tech team is developing code, your management team can spend time learning about the industry and speaking with potential customers. As the project progresses, we will frequently sit down together. You will feed us with new information, and we will develop and build new solutions.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 11 9B10E024

“Excellent, that is exactly how I see this happening,” responded Hutcherson. “Specific thoughts about the technology platform?” Corscadden replied:

It will probably make most sense for us to build on Apple’s latest iOS 3.2 mobile operating system and Core Data persistence layer, a distributed SQL store called sqlite, and a cloud-based deployment model. Apple’s own apps are built using these same technologies. This would keep everything maximally scalable and on-demand. As client specifications evolve, this kind of architecture will allow us to reconfigure and propagate LiveMenu™ in near real-time.

Hutcherson asked, “What do you think of Apple’s latest developers tools and software development kit?” Corscadden responded:

Apple’s tools and SDK are pretty much bulletproof. They provide ready-to-use templates and code snippets — for example, related to networking, navigation, image management, and so on — that we can quickly customize and integrate. It’s like building a complex art sculpture, where many of the parts are already pre-fabricated. Saves a ton of time, yet the result is still a masterpiece. And because the SDK is openly available to anyone who might want to create an app, it offers a brilliant reversal of Microsoft’s closed, proprietary software development model.

“And changes in look, feel and function can be made easily?” asked Hutcherson. Corscadden answered:

Absolutely. These software tools enable rapid creation, and rapid re-creation. To stick with the artwork analogy, instead of trying to change a sculpture that has been meticulously carved from a large chunk of stone, these software tools let us develop more of a ‘Lego block’ sculpture that can be easily reconfigured by adding, moving, or deleting blocks.

Hutcherson responded, “Sounds perfect for the front-end work. What about the back end? I’d like us to stay as technology-agnostic as possible.” Corscadden replied:

I agree one hundred percent. The cloud technologies will be completely hardware independent, and will run on any Linux/Unix derivative you can expect to find from cloud service vendors today. This will allow us to easily expand into other front-end platforms in the future, such as Android or RIM, as these platforms mature to the level we currently see in the iOS packages. We will stay prepared for sudden shifts in-flight. We can have a top- notch development server up and running on one of these turnkey platforms, overnight, for a couple of hundred dollars a month, and probably even less than that.

Hutcherson said:

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 12 9B10E024

Excellent – we are talking the same language. Now, as we develop the product itself, we must be sure to create an effective, collaborative, virtual working environment for the whole team. Everyone will be working from different places and at different times of day. We must avoid lengthy planning sessions and analysis, and instead focus proactively, on communication and output. No one should ever ask, “What’s next?” Their task pipelines must always be full. Consistent and transparent communication tools will be essential to driving this project forward. Any thoughts?

“I’m with you,” nodded Corscadden. “We’ll rely heavily on the agile ‘scrum’ process, so that as the project advances and requirements emerge, we can quickly respond to new features and changes as requested by all the different stakeholders.” Corscadden pulled out a fresh napkin, wrote the words “Users, Us, Customers,” and began drawing boxes and lines (see Exhibit 3). “The product owner receives and prioritizes requests, and creates a Product Backlog. On a regular basis, say weekly, the backlog is reviewed and prioritized.” Here Corscadden jotted the title “Weekly Sprint Backlog.” As the development team comes to terms with each feature requested, they will plan and define the specific tasks required to deliver it.” He paused to write down the term “Task Radiator.” “By tracking our progress in completing individual tasks, we can monitor our overall progress. At the end of each sprint cycle, we have the next increment of the product, complete with new features that have been fully coded, tested, and incremented.” Corscadden added the label “Retrospect and Repeat” to his diagram. “Finally, we return our attention to the backlog, which has in the meantime filled up again, and the process repeats.” “Superb. What if we need an immediate change in the middle of a sprint cycle?” asked Hutcherson. Corscadden replied:

We can always respond to urgent needs, it will just require us to pause our sprint. We don’t need to become slaves to any given development methodology. In general though, I think the agile approach should work nicely for this project.

“Agreed, it’s the right process. What about specific software tools to help us keep ourselves organized?” asked Hutcherson. Corscadden said:

We both know there are a ton of great open source apps available, such as Basecamp for overall project scheduling and task management, Redmine for feature, development tasks and bug tracking, SubVersioN for code management and DropBox for distributed file sharing. And of course, Skype is perfect for teleconferencing and videoconferencing. High volume enterprise versions are available if necessary (see Exhibit 4), but the basic versions should be robust for our needs initially, and they are free. They will allow us to keep everyone connected, collaborating, and on track. We will centralize, virtually. Completely flexible, and more or less “in control” around the clock.

Hutcherson responded:

“Beautiful. The main thing is that we select simple and effective tools, provide some basic training, and get everyone up and running immediately. We can’t let those silly day jobs

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 13 9B10E024

get in the way! We’ve got to break the three-horned dilemma of time, cost and scope on this one. To be successful, we’ve got to deliver all three.

Corscadden nodded, adding, “You know, we can have these tools up and running — from a development standpoint — immediately. It’s all there and ready to go. Time, cost, scope, quality. We can do this.” Hutcherson replied:

I love it. Of course, putting the tools in place is only half the equation. We’ve got to make sure the team commits to using them. Built-in email notifications and reminders from Basecamp should help to drive everyone to constantly and meticulously review the evolving project plan. We don’t have the luxury of working in the same building, at the same time. This will be the only way to create transparency, efficiency, and effectiveness.

“Sam and Michael already understand this. And I have a feeling they’ll be ready to jump on this immediately.” Corscadden stopped and looked at Hutcherson. “Of course, they’re going to want a piece of this if it succeeds …” “Yeah, we’ll have to write some equity checks eventually,” Hutcherson waved a hand in the air. “But let’s not get ahead of ourselves. Remember, right now it’s just a quiet little science experiment. Let’s set up a meeting for next week.” Hutcherson made a mental note to contact his friend at the Ad Vendors office, to borrow a conference room for the first meeting. AD VENDORS BOARDROOM WITH THE TEAM The lights snapped back on, and the Binnj team stared around the room, all eyes wide. The clap of thunder and torrent of gunshot-like hail had taken everyone by surprise. It was August 2, 2010, and the team was deeply engrossed in their weekly Jam session discussion. Hayes restarted the conversation by describing his analysis of the restaurant market.

A few restaurant groups — let’s call them Enterprise Restaurant Groups or ERGs — control the majority of the restaurant chain market. Each group has multiple locations ranging from a dozen to hundreds. There are 40 ERGs in Canada controlling 60 brands and 2,700 restaurants. In the U.S., there are 137 ERGs with about 37,000 locations. These groups are especially concerned with how to keep their offering consistent, while allowing for local variation. Inventory control is also key — managing your stock room, highlighting dishes to utilize excess ingredients, and so on. Ultimately, headquarters is looking to maintain visibility and control across its dispersed operations. Right now, with paper menus, there is little data, less control, and no real-time visibility. They don’t know what they’ve sold until they look at the receipts, and they certainly don’t know what they could have sold.

Hutcherson interjected, “So the ERGs are pivotal.” Hayes nodded:

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 14 9B10E024

Yes. Landing a single ERG could generate massive sales. The good news is that we’ve now talked to three of them, and all three seem enthusiastic about LiveMenu™. The bad news is that the ERGs tend to be rather large and bureaucratic, so it can be difficult to get face-to-face with the right person. Fortunately, there are also many smaller players — we’ll call them Small & Medium Enterprise Restaurant Groups or SMERGs. There are about 1,000 SMERGs in Canada and each of these groups has between one and twelve restaurants. Because SMERGs are typically run by owner-operators, they might be a little more open to trying new ideas, especially if they can get a revenue boost. Control isn’t that much of an issue for SMERGs, as the owners tend to spend time visiting their restaurants on a weekly basis.

Philip asked, “How much can we charge for LiveMenu™?” “We don’t really know,” replied Hayes. “Actually, none of the three ERGs we’ve talked to so far have even asked us the price, despite the fact that after the product demos, all three have told us they want it!” “What about competitors? Who could potentially beat us up?” asked Philip. Hayes replied:

There are some major software players operating in the US restaurant space. “These guys provide a variety of reservation and social media ranking services, and earn fees from software rentals and diner placements. Incidentally, one of them IPO’d just over a year ago, and now has a market cap of $1.2 billion.

“But no one is focusing on the menu and operations, so far?” asked Philip. Hayes paused thoughtfully:

These competitors might have the ability to quickly design something to digitize the menu. They already provide performance metrics so some bright manager or analyst might decide to extend their reach to the menu. But thus far, I have not found anything to suggest that anyone is seeking to re-design the menu experience at an enterprise scale.

“The initial search sounds very encouraging,” added Corscadden. “There could be others in stealth mode, though. We won’t really know for a few months.” Hayes turned to Corscadden. “Scott, I noticed a glitch on the first screen of the latest release. When will it be fixed?” Corscadden asked:

Have you noted it in Redmine? Remember, Redmine shows all planned engineering activities for the next month. If there are any last minute priorities, or if you need us to reorder the list of projects, just let us know. Keep in mind though that we are trying to juggle several priorities at once so something moving up the list, will have to move something else down the list.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 15 9B10E024

“So are you saying that the final application will be completed in a month?” asked Hayes hopefully. “We really have to get our sales engine going …” Corscadden interrupted:

Sorry, James, I think you’re misunderstanding something. Rather than pushing towards a single, final, ideal version of the app, we’re trying to focus our primary efforts on polishing up sections that can be demonstrated to clients. And we’re trying to improve the product iteratively, as we go, one sprint at a time. When we decide to go live, we will have a refined product improvement process already underway. Of course … that’s assuming we decide to make this science experiment into a business.

Hutcherson sat in the corner, staring at the now historical 100-day plan, lost in thought (see Exhibit 5). Hayes responded, “I understand that we’ve been using an iterative development approach up to this point. But the market is heating up. It’s time we finally ‘give birth’ and start selling this thing!” All eyes turned to Hutcherson, who was now looking out a window. The hail had turned to rain, and a cool breeze was now circulating through the room. Hutcherson remained silent, and Philip spoke up. “James, we’re all looking forward to arriving at Coors Light Island.” This was the Binnj team’s term for a saleable, deliverable software version that included all the wild ideas they had come up with. “But if we rush this, we’ll blow it.” “And if we don’t, someone else will get there first!” Hayes’ growled. “We’ve already seen potential competitors surfacing. We are going to lose this market if we do not get out there, now.” Corscadden countered:

But we know the competitors you are talking about are not really competitors to us. They are single location restaurants that have attempted to digitize their menu. In most cases they are simply presenting a PDF image of a menu. They’re not offering the same level of functionality or enterprise scale that we’re talking about.

“Even so, they could be reaching out to the chains,” said Hosafros. “It’s a very small market. Maybe we should try sending out a two-page teaser brochure ourselves?” (See Exhibit 6 for a preliminary brochure.) Philip added:

What if we do send out a brochure, and they call our bluff? If a client wants to test LiveMenu™ in a pilot location, we’d have to put them off. And that might open an even more dangerous door for new competitors. At this point, our three potential clients are expecting the pilots to run at the end of September.

Philip paused to take a breath. “That’s two months from now. Can we wait until then to formally announce our product?” Hayes sighed heavily. No one spoke for a full sixty seconds. The rain tapped steadily against the glass. Corscadden spoke cautiously:

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 16 9B10E024

It may not be the best time to bring this up, but I heard a CBC news report a few days ago discussing Ontario Private Members Bill 90, “Healthy Decisions for Healthy Eating Act.” If the bill is passed into law, restaurants will be required to provide nutritional information on all menu items. Apparently the restaurant association is freaking out. Of course, with LiveMenu™, a restaurant could easily make the necessary nutritional information available, without requiring them to print new, more cumbersome menus.

Hutcherson turned his gaze back to the window. It seemed clear to everyone else in the room that the science experiment was over, and that Binnj had become a real business that could potentially create real value. However, to Hutcherson it felt like they were flying in the dark. Binnj had no product, no revenue, and no customers. No one was certain what features customers would need, which customers would sign on, or how much customers would be willing to pay for the service. No one knew whether there were other competitors operating in stealth mode. Hutcherson wondered what activities the team should focus on to continue building their high tech startup, and in what sequence.

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 17

E

BINNJ

Exhibit 1

J LIVEMENU™™

9B10

0E024

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 18

Clay Hu Clay wa organiza Property imaging based in manages the CEO His team the strat financin His team threaten impleme brands s founding Henders for inter based re technolo products Busines

Nancy P the Dire Nancy w was resp statutory Spirent senior ro degree Ontario. Account

Scott C Enginee successf clients. TVWork Kansas C developm he deve banking Scott ho London,

MANAG

utcherson is th as a managem ational and te y Licensing bu g, mobile paym n Seattle, WA, s a US $5B in O’s executive t m developed a tegic business ng, the emergen ms stabilized

ned the exist entation for th such as Wonde g member of F son, a TSX co rmediary delive eal estate infor ogy originates s. Clay resides s at the Univer

Philip is a Cha ector of HR an was Director o ponsible for th y audits. Nanc Communicatio oles at ASI, A from Carleton . She belongs tants. Nancy re

orscadden is t ering at Joyent ful public clou A former Di

ks embedded City, Scott has ment practices loped scalable institutions; m olds an honou , Ontario with

Exhibit 2

GEMENT TEA

he founder and ment consultan echnical consu usiness unit. T ments and glo , USA and is a nvention-capita turnaround tea

and launched a plan contributi nce from Chap the core SAP

tence of the he companies $ er, Hostess, D Filogix, (forme ompany. Filogi ery of financia rmation portal

in excess of in London and

rsity of Western

arterd Account nd CFO of C f Finance at th e day-to-day o cy previously ons, and with D

Ameridata and n University a s to both the esides in Ottaw

the CIO at Bin t, helping the ud software int irector of Eng software firm

s spent his entir s. He also led th e mission-critic many of whic

urs B.E.Sc. fro his wife and th

AM

d CEO/Presiden nt at Intellect ulting to seni

The patent and obal financial a world leader al fund. Clay w am at Interstat a modern techn ting to success pter 11 and th

P ERP implem organization

$1B+ payroll. Dolly Madison

erly Centric Sy ix pioneered c

al services prod in Canada. To 50 per cent o d holds an MB rn Ontario, Can

tant and the CF IRA in Ottaw

he Royal Cana operations of th

held the posi Doyle Salewsk Cognos. Nanc

and an MBA Ontario and

wa.

nnj. Prior to joi cloud-computi to private clou gineering for

m), as well as re career in cut he Internet Ap cal enterprise w ch are still run om UWO in L hree children.

nt of Binnj. Pri tual Ventures ior leadership

technology ar services. Inte

r in IP and pat was the SVP, te Brands in K nology roadm fully securing

he preservation mentation that, n while rescu

Interstate Bran and Drakes. A ystems) now a collaborative te ducts, includin oday, this awar f new consum

BA from the Ric nada.

FO and COO o wa, Ontario. Be adian Mint for he finance grou ition of Direct ki Inc. and a s cy holds a Bac

from the Un Canadian Ins

ining Binnj, he ing pioneer tra ud turnkey solu Comcast (in the CTO for

tting edge tech pplication Grou web applicatio nning today ne London, Ontar

9B10

ior to forming providing bus in the Intell

reas included ellectual Ventu tent aggregatio CIO and mem

Kansas City, K ap that aligned $400MM of n

n of 29,000 US for a second

uing an SAP nds owns icon

As CTO, Clay acquired by Da echnology plat g the first fully rd winning Can

mer real estate chard Ivey Sch

of Binnj. Nanc efore joining C over five year

up as well as ta tor of Finance eries of increa chelor of Com

niversity of W titutes of Cha

e was the Direc ansform their utions for ente their wholly-o

r Hostess Bran hnology and so up for FiLogix ons for Canada early 10 years rio. Scott resi

0E024

Binnj, siness, lectual digital

ures is on that

mber of Kansas. d with needed S jobs. d time, P HR nic US

was a avis & tforms y web- nadian credit

hool of

cy was CIRA, rs. She ax and e with asingly

mmerce Western

artered

ctor of highly erprise owned nds in ftware where

a’s top s later. des in

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 19

James H James h joining B Canada’ industry leading the team Tipperar be conn a region agricultu Monsan holds an Western

Jen Ho graphic creative Superior

Michael degree Manage video di co-found experien Michael Research premier and nati

Sam Ma server-b technolo engineer London,

Exhibi

Hayes is the D has 15 years of Binnj James pi ’s only poker y. Prior to the

independent, m m that develop ry storage poo ected to the U nal printing op ural sign sup

nto, Pioneer Se n MBA from

n Ontario. Jame

safros is Crea design consul experience an

r State Univers

l Kernahan is from the Uni r at Comcast’ istribution plat der of Redshi nce designing, l worked as a h Council (N organization f

onal programs

aloney is Lead based web ap ogies and ente r that solves c , Ontario.

t 2 (continue

Director, Sales a f enterprise acc ioneered the su

centric consu e CPE, James market-based

ped a $35 mill ol is one of the nion Gas later peration in so

pplier in Cana eeds, Syngenta

the Richard es resides in Lo

ative and User tant and holds nd holds a BF sity in Michiga

s Senior Engin versity of Alb ’s TVWorks d tforms for mil irt Labs, an developing an

a Software D NRC) of Canad

for research an . Michael resid

d Software Eng pplication tec erprise Java ar complex prob

ed)

and Marketing count managem uccessful Cana umer show fo was a consul

energy provid lion Tipperary e first non-utili ral transmission outhern Ontari ada. He man a, Pride Seeds Ivey School o ondon, Ontario

r Experience L s a provisional FA in visual ar an. Jen resides

neer at Binnj. H berta. Michae division. TVW lions of consu indie mobile nd releasing iP

Developer at b da. The NRC nd developmen des just outside

gineer at Binnj chnologies wi rchitectures. S lems often ab

g and leads the ment and sales adian Poker Exp for global lead ltant to Tribu

der in Ontario. y Natural Gas ity competitive n system. Jame io that he gre naged national s and Dow Ag of Business at o.

Lead for Binnj l RGD. Jen ha arts and graphi

in London, On

He holds a Co l was previou

Works develop umers across N

software com Phone apps. Pr both TVWork

C is the gover nt, comprised e of London, O

. Sam has deca ith a specialt am is well kn

bandon by oth

9B10

sales effort at experience. P position. The C ders in the g

ute Resources James worked

storage projec e storage facili es previously o w to be the l l accounts su gro Sciences. t The Univers

nj. Jen is a fre as 10 years of ic design from ntario.

omputer Engin usly an Engin ped set-top bo North America mpany, Michae rior to manage

ks and the Na rnment of Can of over 20 ins

Ontario.

ades of experie ty in open nown as a com hers. Sam resi

0E024

Binnj. Prior to CPE is gaming

Inc. a d with

ct. The ities to owned largest

uch as James

sity of

eelance digital

m Lake

neering neering ox and a. As a el has ement, ational nada’s stitutes

ence in source mputer des in

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 20

Source: Co

CO

ompany Records

ORSCADDEN

s

N’S AGILE DE

Exhibit 3

EVELOPMENNT PROCESSS DRAWING

9B100E024

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 21 9B10E024

Exhibit 4

COLLABORATIVE TOOLS

Name Description How BINNJ Uses It

Apache SubVersioN

 Revision control system allowing users to maintain current and historical versions of files such as source code, web pages and documentation

 100% Open source software

 Code repository and versioning system

Basecamp

 Web-based project management tool and collaboration tool.  Features include: wiki-style web-based text documents; to-

do lists, milestone management; file-sharing; time tracking; messaging and alert system; calendaring

 Track progress on the 100-day plan

 Post to-do lists for each function

DropBox

 Uses cloud computing to enable online storing and sharing of files with collaborators

 Uses cross-platform P2P file synchronization  iPhone/iPad integration for mobile document sharing,

updates  Web-based file hosting interface for browsers

 Share large files that cannot be emailed or that need comments from various parties

 Central repository for key data  Simple file browser interface

Redmine

 Open source, web-based software project management and bug-tracking program

 Visual tools includes Calendar and Gantt chart functions  Supports multiple projects and multi-stakeholders

 Track progress on software development

 Team members post suggestions and bug fixes

 Tracks YTT lifecycle (yesterday, today, tomorrow)

Skype

 Allows users to make voice calls over the Internet  Free calls between Skype users, small fee for calls to

landline telephones and mobile phones  Supports instant messaging, file transfer and

videoconferencing  Operates without servers, utilizing background processing

on computers running Skype software

 Remote calling between management and technology team members

 Zero cost

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 22

100

Exhibit 5

0-DAY PLAN

9B100E024

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 23

E

LIVEMEN

Exhibit 6

NU™ BROCH

HURE

9B100E024

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.

Page 24

Exhibit 6 (continueed)

9B100E024

For the exclusive use of R. Davis, 2019.

This document is authorized for use only by Reggie Davis in Info Analysis and Mgmt 2019 taught by ELIZABETH BAKER, University of North Carolina - Wilmington from May 2019 to Sep 2019.