ENTREPRENEURSHIP AND INNOVATION
BUS 130a
Spring Semester - 2015
CHARLES REED, JR.
Co-Director, Asper Center for Global Entrepreneurship
Senior Lecturer in Entrepreneurship
INTERNATIONALBUSINESSSCHOOL
BRANDEISUNIVERSITY
ENTREPRENEURSHIP AND INNOVATION
BUS 130a
Course Overview
The Entrepreneurship And Innovationcourse explores why, when and how to start and nurture a new business venture. The preponderance of courses at the graduate level in economics, finance and business prepare students to participate successfully in large enterprises and organizations. However, history shows that many students will at some point in their careers turn to participating in an entrepreneurial endeavor either by starting their own business or by participating in a management buyout of a part of their employer. This course attempts to develop the attitudes, skills and knowledge that will support that activity.
There are two primary routes for successful ventures. One involves careful market research, well thought out business plans, extensive financial plans, full management teams and significant venture or other outside capital. The subsequent "business plan ventures" tend to be of significant size. Successful start-ups or buyouts following this route decorate the headlines of the business press. (Preparation and Presentation of a Business Plan are covered in Entrepreneurial Finance and Business Plans (BUS231-Spring Term).
A second route involves less formally planned and less resource intensive ventures. This is sometimes referred to as the "bootstrap approach". While the venture may turn out to be significant enterprises (Hewlett Packard, Calvin Klein and Microsoft come to mind) most do not become household words. Nonetheless, they can lead to significant work and a meaningful lifestyle. In total they contribute significantly to new job creation and development in the economy.
In the Entrepreneurship And Innovation course (BUS 130a) students will learn to think critically about the issues, ideas and approaches of successful "bootstrap" ventures. They will also critically evaluate the issues of management buyouts and early stage operations. We concentrate on identifying and evaluating potential opportunities, determine various ways of defining and securing start up resources and sources of finance, create a positive corporate culture, create a sales and marketing force, hire talented people and manage cash. The course uses lectures, case discussions and outside speakers to introduce issues in both theory and practice.
Learning Goals
There are five primary learning goals in this course:
1. To understand the fundamental concepts and issues in new ventures and LBSs.
2. To recognize the interrelationships among these.
3. To learn how to apply the language and tools of the course to a range of business opportunities.
4. To learn how to recognize and analyze new venture opportunities.
5. To develop clear and concise communication skills for business.
Course Requirements
This course will use a textbook and readings from other sources to introduce various issues and principles in a new venture. Case discussions will further explore the application of these principles. Regular preparation and contribution to class discussions is critical for both individual and group learning. We will each learn from other’s point of view, thoughts and experiences. And we each learn more by participating in the debate than by passive listening. To encourage preparation and participation, each class session will start with the cold calling on a student at random.
Class discussions will be supplemented with outside speakers, i.e. successful entrepreneurs, lawyers, accountants, venture capitalists and bankers who work with start up companies. Attendance at the primary presentation of these speakers is a requirement of the course.
Grading
Half the grade will be based on a student’s contribution to class discussion. The other half of the grade will be based on the mid-term and final examinations.
If a student has a documented disability on record at BrandeisUniversity and wish to have a reasonable accommodation made for you in this class please contact me immediately. Please keep in mind that reasonable accommodations are not provided retroactively.
Honesty
You are expected to be honest in all of your academic work. Instances of alleged dishonesty will be forwarded to the Office of Campus Life for possible referral to the Student Judicial System. Potential sanctions include Failure in the Course and Suspension from the University. If you have any questions about my expectations, please ask.
Appointments
Prof. Reed is available for individual student meetings at mutually agreeable times and locations. If you need an appointment email .
MATERIALS LIST
TEXT
Timmons, Jeffrey A., Creating New Ventures,8th Edition, Irwin/Mcgraw-Hill
NOTE: These materials are available in eBook form on McGraw Hill's website for $85.59 (savings of roughly 45%).
To do this, go to:
You should come to a page: "Looking for new materials". In the box enter the following ISBN number= 9781121403840. This will bring up a "pop up" with many details about our course. Click on the pop up and it will take you to the page where you may order the eBook.
Or find through state (MA), school (Brandeis) and instructor/course (Reed/BUS 30)
From HarvardBusinessSchool Publishing:
HBSP Case Numbers
“R & R”, 386-019
“Deaver Brown and CrossRiver”, 9-394-042
“How to Write a Great Business Plan, HBR Reprint 97409
“Selling as a Systematic Process”, 9-395-09
“Thoughts on Business Plans”, 9-897-101
"How to Make Your Case in 30 Seconds or Less", C0201E
Coursepack link:
ENTREPRENEURISM & INNOVATION
BUS 130a
2015-COURSE OUTLINE
JAN 12Read Ch 1 and Ch 2 in textbook “New Venture Creation”, 8th Edition, McGrall-Hill (Entrepreneurism) (Pp 15-91)*
Read “Guide to Case Analysis”.
JAN 19BRANDEIS CLOSED - MLK DAY
JAN 26Role of professional investors in Entrepreneursiip.
NOTE: This class will be "taught" by Evangelos Simoudis, Managing Partner of Trident Capital, Palo Alto, CA. He will talk about the "role" of Venture Capital and how it works. Prior to his life as a VC, Evangelos had started two companies, the latter, Customer Analytics (one of the initial companies in customer relationshipsoftware) was a significant success.
FEB 2Read Ch 3,4, 5 and Ch 6 in “NVC”. (Opportunity)(Pp. 95-217)*
Focus on the “Quick Screen” (P.173) and “Venture Opportunity Profile" (Pp. 176-217)*
Prepare "R & R" (Coursepak) to discuss in class. (P. 535)*
Feb 9 Read Ch 8 in “NVC”. (Business Plan)(Pp. 219-245)*
Read “How to Write a Great Business Plan”, HBR Reprint 97409. (P.558)*
Read “Thoughts on Business Plans”, HBSP 9-897-101.(P.575)*
Apply QS and VOSG to “Jim Poss” , Pp. 138 – 146 and be prepared to
discuss the opportunity in class.(P. 134)*
FEB 16NO CLASS - MIDTERM BREAK
FEB 23Read “Selling as a Systematic Process”, HBSP 9-395-091.(P. 569)*
Read "How to Make Your Case in 30 Seconds or Less", C0201E
Team with another student and prepare a product pitch for the strollers in Deaver Brown and CrossRiver, HBSP 9-394-042.(P553)*
Individually, Turn in an outline of an "elevator pitch" for DB & CR in class.
MAR 2Read Ch 9 in “CNV”. (Entrepr'l Manager and Team) (Pp.257-293)*
Prepare “Maclean Palmer, Pp. 342-355, to discuss in class.(P. 294)*
* Italicized are eBook page nos...in "Green Block"
MAR 9Read Ch 11 in “CNV”. (Resource Requirements) (Pp.331-346)*
Prepare “Quick Lube Franchise Corp.”, Pp. 393-397, to discuss in class.(P347)*
MIDTERM OUT – DUE IN BY MARCH 17th at START OF CLASS
MAR 16MID-TERM DUE AT START OF CLASS!
Read Ch 13 and Ch 14 in “CNV”. (Entrep'l Finance) (Pp.353-397)*
Prepare “Midwest Lighting”, Pp. 435-444, to discuss in class.(P.365)*
MAR 23Read Ch 15 in “CNV”. (Structure, Value, Negotiating)(Pp.399-417)*
Read Ch 16 in “CNV”, (Debt Capital)(Pp.435-453)* Prepare “Lightwave Technologies, Pp. 502-509, to discuss in class (P.418)*
MAR 30Prepare “Newland Medical Technologies”,Pp. 296-304, to discuss in class.(P246)*
APR 6No Class - Passover & Spring Break
APR 13 Read Ch 17 in “CNV”. (Family As Entrepreneur)(Pp.457-481)*
Prepare “Indulgence Spa Prod”,Pp. 614-625, to discuss in class.(P482)*
FINAL EXAM OUT: DUE APR 20 AT THE START OF CLASS
APR 20 FINAL DUE IN
Read Ch 19 in “CNV”. (Harvesting)(Pp.495-507)*
Prepare “Optitech”, Pp. 640-649, to discuss in class (P.508)*
APR 27Read Ch 10 in “CNV”.(Pp.307-326)*
Take Ethics exercise, Part 1.(P.321)*
Prepare to discuss role of ethical issues in Creating New Ventures.
Summary.
* Italicized are eBook page nos...in "Green Block"Italicized are eBook page nos...in "Green Block"