New Venture Creation MGT 320-01: Syllabus Winter 2008

Monday and Wednesday 3:00pm-4:15pm — Miriam Hall, Room 106

Professor: Diane M. Sullivan, Ph.D. / Office Hours: Monday and Wednesday
Office location: SBA, room 702 / 1:00pm-2:45pm, and by appointment
Phone: 937-229-3705
Email:
Website:

Objective

This course is intended to provide the student with the basic knowledge necessary to create new business ventures and to innovate within existing companies. Some goals of the course include:

  1. Determine if entrepreneurship is an appropriate career choice
  2. Understand entrepreneurship, including how to start a new business, and how to manage the entrepreneurial venture
  3. Learn the importance of innovation, market research, new business feasibility, and planning, product and service concepts

Text

Barringer, B.R. and Ireland, R.D. (2006). Entrepreneurship: Successfully Launching New Ventures. Pearson Prentice Hall: Upper Saddle River: NJ.

There are several articles that are required readings for the course in addition to the text cited above. These articles have been provided to you in your course packet. Please read these articles and be prepared to discuss them on the day that they correspond to the itinerary (e.g., the first author’s name will appear in the itinerary for the day that this reading is required).

Article Citations for winter 2008:

Innovation is the secret to bringing good old things some new life (2007). Wall Street Journal. January 11, 2007, B6.

Pagliarini, R. (2006). What is an elevatorpitch? American Venture Magazine, June, 31.

Simon, E. (2007). Pay gap persists: Women still make less, study says. USA Today, April 23, 2007.

Spors, K. (2007). Do start-ups really need formal business plans? Wall Street Journal. January 9, 2007, B9.

  • Any other supplemental materials (e.g., handouts, etc.) that may be needed will be available as needed on my website. You will be informed as to when you are to print out these materials and bring them to class.

Grades

Grades are comprised of:

Assignments / Point Value / Due Date
Individual Assignments
Elevator Pitch #1 / 100 / January 28, 2008, Monday
Film Analysis Assignment / 100 / March 12, 2008, Wednesday
Exam #1 (Chapters 1-5, Articles, Special Topics, Guest Speakers if applicable) / 100 / March 3, 2008, Monday
Final Exam (Chapters 5, 6, 7, 8, 9, Articles, Special Topics, Guest Speakers if applicable) / 100 /
  • Thefinal exam is on Monday, April 28, 2008 12:20pm – 2:10pm in room MH 106

Team Assignments:

Team Assignment Checkpoints(CP)

/ 50 / CP #1 (10-pts):Monday, February 11
CP #2 (10-pts): Monday, February 25
CP #3 (10-pts):Monday, March 10
CP #4 (10-pts):Wednesday, March, 26
CP #5 (10-pts):Wednesday, April 2

Team Feasibility Analysis Presentation

/ 150 /
  • April 16, 2008 (Wednesday): Teams 1 2
  • April 21, 2008(Monday): Teams 3 4

Total Possible Points (individual & team): / 600

Grading

The plus/minus system will be used whereby grades will be distributed according to the following schedule:

Out of 600 Points:

Grade / HighRange / LowRange / Percentage in Course / GPA
A / = / 600 / 564 / 94 – 100 % / 4.00
A- / = / 563 / 540 / 90 – 93 % / 3.67
B+ / = / 539 / 522 / 87 – 89 % / 3.34
B / = / 521 / 504 / 84 – 86 % / 3.00
B- / = / 503 / 480 / 80 – 83 % / 2.67
C+ / = / 479 / 462 / 77 – 79 % / 2.34
C / = / 461 / 444 / 74 – 76 % / 2.00
C- / = / 443 / 420 / 70 – 73 % / 1.67
D / = / 419 / 360 / 60 – 69 % / 1.00
F / = / 359 / 0 / < 60 % / 0.00

Performance Standard for Grading

As college students, many of you have either already begun your transition period from being a student to being a professional or you are planning to in the near future. As such, the quality of the work you complete should be that of a professional.

The following will be used in grading your work and in assigning your final grade for the course.

A = Outstanding: A student who consistently demonstrates a nuanced understanding of material, engages in high quality participation/preparedness, exhibits excellent team management abilities, generates deliverables that demonstrate superior abilities, etc.

B = Above Average: A student who consistently demonstrates above average understanding of the material, engages in participation that demonstrates regular preparation, works well in groups, and turns in thoughtful, well-prepared, high-quality deliverables, etc. This student may demonstrate intermittent “outstanding” work.

C = Average: A student who demonstrates an understanding of the material, comes to class most of the time and participates, is usually prepared, gets along in groups, provides a positive contribution to team assignments, and turns in deliverables of appropriate professional quality.

D = Below Average: A student who does not fully understand the material, misses class and/or fails to participate regularly, does not prepare for class regularly, gets along in groups and does their fair share but the quality may not meet the expectations of other group members, puts deliverables together at the last minute, etc.

F = Failure: A student who has an inadequate understanding of some or all of the material, misses class, does not participate, does not turn in all deliverables, and/or does not complete team assignments.

Attendance and Class Participation

Attendance, advanced preparation, active preparation and contribution are vital to your career success, particularly within entrepreneurship. It is also vital to an effective learning environment. No set weight is allocated to this component of the course. However, your instructor, at her discretion, will use this component to revise your overall grade for this course—this may raise or lower your grade. Pop quizzes may periodically be given to help in assessing preparation.

Throughout the semester I will be evaluating the adequacy your individual class participation. Evaluations of participation will primarily be based on the frequency and quality of your contributions to in-class discussions as well as your contributions during in-class exercises (both individual and team-based). If individual class contributions are not deemed adequate (e.g., if you never speak up in class) or value-adding to the class discussions and in-class projects (e.g., your contributions must be meaningful to the topics under discussion), your overall final grade can be increased or decreased. These evaluations will occur on an ongoing basis and a final evaluation regarding each student’s semester-long participation quality will be made at the end of the semester.

A few notes on class contributions:The assessment of contribution will be based first on the qualityand second on thequantityof your participation. Further, the extent of both attributes will be solely determined by the instructor. While much of the focus of class discussions is the application of analytical frameworks/tools to guide entrepreneurial decisions, any comments adding to the classes’ understanding of the issues, cases, firms, entrepreneurial topics, etc. are encouraged. Comments reflecting thorough preparation which extend the class discussion can positively affect your grade. Conversely, “off-the-cuff” and non-value adding contributions will negatively affect your grade.

What is a contribution?

Raising and answering substantive and relevant questions

Sharing relevant ideas, observations, and personal experiences

Generating potential solutions

Relating/synthesizing ideas of others to increase everyone’s understanding of a concept

Pointing out relationships to earlier discussions

Please note that criticism of others’ ideas/comments without substantive recommendations or alternatives is not considered a contribution

Other Policies

Electronic Devices

  1. No electronic devices are to be used in the classroom (e.g., cellular phones, PDAs, laptops, etc.).
  2. Throughout the semester, there are certain designated in-class work days where a laptop may be used in class. These days are listed on the itinerary.

Assignments Submitted for Feedback

  1. I am happy to look over student and team assignments before they are due. I do, however, ask that any work submitted for feedback be electronically (e.g., via email) sent to me no later than 10 days prior to the assignment due date. I have established this policy to allow for sufficient time to provide feedback and to leave enough time for students and teams to make any recommended changes and integrate any feedback. Further, so that I can provide the best possible feedback to students (e.g., substantive feedback versus stylistic feedback), I ask that assignments submitted for feedback be in a final, or near final, form (e.g., formatted correctly, checked for grammar, etc.).

Academic Integrity

  1. Academic dishonesty will not be tolerated. This is a policy that I take very seriously. If cheating, plagiarism, or academic dishonesty of any kind occurs, the offender will be automatically dismissed from the course with a failing grade.
  2. The University Bulletin specifies what constitutes academic dishonesty, so I suggest that you read it. For example, beyond those types of dishonesty discussed in point one in this section, academic dishonesty also involves enabling others to cheat. That is, if you “lend an assignment” to someone, and they copy it (or just portions of it), you will receive the same penalty as they do. It doesn’t matter if you tell them not to copy, if they do so anyway, you share liability with them. If it is a group assignment, I use my judgment to decide what to do, but everyone within the group can receive the same grade.
  3. With regard to citing references that you have used within the body of your work, you must cite all sources. Anything that is cut and pasted should be included in quotes and cited in your bibliography. Do not excessively use direct quotes, either. Be sure to paraphrase if direct quoting seems excessive. If you are unclear of what to cite or not, contact me for clarification before the assignment is due.
  4. I will send a number of emails throughout the semester regarding the class. I will use the University’s Lotus Notes email system and the corresponding email addresses for the members of the class. Consequently, it is your responsibility to check your Notes account for emails regarding the class.

Classroom Professionalism

  1. Always be respectful of others in the class (professor and students); their opinions and comments.
  2. Respect extends beyond the classroom. The content of any emails, group meetings, online chat meetings, etc., should be carefully thought out. Please be respectful of each other and the professor, including your electronic transmittals. This is a formal business course and I expect you to conduct yourselves as business people inside and outside of the classroom, including correspondence.
  3. The professor reserves the right to alter the syllabus, itinerary, or class assignments at any time.
  4. Any behavior deemed by the professor as unprofessional, disrespectful, inappropriate, and/or rude will result in up to a 20% reduction in your final grade.

New Venture Creation MGT 320

Course Outline for Winter 2008

Professor: Diane M. Sullivan

The following is a schedule outlining the topics to be discussed in the course. All readings and assignments are due on the day noted on this itinerary. Please come to class prepared to discuss the readings assigned for each class period. Changes can and may occur to maximize learning.

Class Date

/

Day

/

Topics

/
Assignments Due
January 7 / Monday / *Classes Begin*
  • Introduction
  • Assignment Discussion

January 9 / Wednesday / Introduction to Entrepreneurship and Review
  • Why entrepreneurship, why now? Who is an entrepreneur? Who is a successful entrepreneur? What types of new venture start-ups do they found?
/
  • Reading Assignment(s) Due: Textbook, Chapter 1

January 14 / Monday / Recognizing Opportunities and Generating Ideas Day #1 /
  • Article Reading Assignment(s) Due: Title: Innovation is the secret to bringing good old things some new life
  • Reading Assignment(s) Due: Textbook, Chapter 2

January 16 / Wednesday / The “Art” of the Elevator Pitch /
  • Website: Download Elevator Pitch Slides
  • Article Reading Assignment(s) Due: Author: Robert Pagliarini

January 21 / Monday / *No Classes, Martin Luther King, Jr. Day Holiday*
January 23 / Wednesday / Recognizing Opportunities and Generating Ideas Day #2
  • The importance of networking and entrepreneurship
  • The Evolutionary View of OpportunityConstruction
/
  • Website: Download Evolutionary View of Opportunity Construction Handout
  • Reading Assignment(s) Due: Textbook, Chapter 2

January 28 / Monday / Elevator Pitch #1 and Team Formation /
  • Individual Assignment Due: One-minute new venture elevator pitch (100-points)

January 30 / Wednesday / Introduction to Feasibility Analyses /
  • Reading Assignment(s) Due: Textbook, Chapter 3

February 4 / Monday / Product/Service Feasibility Analysis Day #1 /
  • Reading Assignment(s) Due: Textbook, Chapter 3

February 6 / Wednesday /

Product/Service Feasibility Analysis Day #2

Using Primary Research to Collect Feasibility Analysis Data

/
  • Website: Download Primary Research slides

February 11 / Monday /

Product/Service Feasibility Analysis Day #3

The case of the new product development firm, IDEO

/
  • Team Assignment Checkpoint #1 (10-pts)

February 13 / Wednesday / Industry, Competitor, & Market Feasibility Analysis Day #1
  • How to determine if the industry within which we want to start a venture is attractive
/
  • Reading Assignment(s): Textbook, Chapter 4
  • Website: Download Porter’s Five Forces Handout

February 18 / Monday /
  • In-class team exercise: Porter’s Five Forces
/
  • Reading Assignment(s): Textbook,Ch. 4
  • Download and bring to class Porter’s Five Forces Handout from website
  • Bring laptops to class

February 20 / Wednesday / Industry, Competitor, & Market Feasibility Analysis Day #2
  • Competitive Analysis Grids; Trends in the External Environment; Industry Structures
  • Finding industry, market, and competitive information
/
  • Website: Download Industry Structures and Opportunities Slides
  • Reading Assignment(s): Textbook, Chapter 4

February 25 / Monday /
  • In-class team exercise: First-mover advantages
  • In-class Team work day
/
  • Team Assignment Checkpoint #2 (10-pts)

February 27 / Wednesday /

Mid-term Exam #1 Review

March 3 / Monday /

Exam #1

(Chapters 1-5 and in-class material)

/
  • Individual Assignment: First exam (100-points)

March 5 / Wednesday / Organizational Feasibility Analysis Day #1
  • The Business Model and Organizing the Venture to Create the Most Value
/
  • Reading Assignment(s) Due: Textbook, Chapter 5
  • Reading Assignment(s): Porter’s Value Chain Reading Handout

March 10 / Monday /
  • Team Work Day
/
  • Team Assignment Checkpoint #3 (10-pts)
  • Bring laptops to class

March 12 / Wednesday / Organizational Feasibility Analysis Day #2
  • The Business Model and Sustaining a Competitive Advantage in the Marketplace
  • How firm resources can be a source of competitive advantage
  • SWOT Analyses
/
  • Website: Download VRIO Handout
  • Reading Assignment(s) Due: Textbook, Chapter 5
  • Individual Assignment Due: Film Analysis Assignment (100-points)

March 17 / Monday / *Mid-Term/Easter Break, No Classes*
March 19 / Wednesday
March 24 / Monday
March 26 / Wednesday / Organizational Feasibility Analysis Day #3
  • The importance of the new venture team andwho should be on it
/
  • Team Assignment Checkpoint #4 (10-pts)
  • Reading Assignment(s) Due: Textbook, Chapter 6

March 31 / Monday /

Ethical and Legal Issues Associated with Founding New Ventures

/
  • Reading Assignment(s) Due: Textbook, Chapter 8

April 2 / Wednesday /

Human Resource Management Issues for New and Growing Ventures Day #1

/
  • Article Reading Assignment(s) Due: Author: EllenSimon
  • Website: Download Human Resource Slides

April 7 / Monday /
  • Human Resource Management Issues for New and Growing Ventures Day #2
/
  • Team Assignment Checkpoint #5 (10-pts)
  • Same slides as April 2nd class

April 9 / Wednesday / Brother Joseph W. Stander Symposium—Alternate Day of Learning
No Class, please attend Stander Symposium
April 14 / Monday / The Business Plan /
  • Reading Assignment(s) Due: Textbook, Chapter 9
  • Article Reading Assignment(s) Due: Author: Kelly Spors

April 16 / Wednesday /
  • Team Feasibility Analysis Presentations (Teams #1 and #2)
/
  • Team Assignment Due: Feasibility Analysis Presentation (Teams #1 and #2) (150-points)

April 21 / Monday /
  • Team Feasibility Analysis Presentations (Teams #3 and #4)
/
  • Team Assignment Due: Feasibility Analysis Presentation (Teams #3 and #4) (150-points)

April 23 / Wednesday /

*Last Day of Classes*

  • Wrap up and final exam review

Final Exam Week
(April 28-May 2) /

Final Exam (100-points)

(Chapters 5, 6, 8, 9, articles, in-class material, and guest speakers if applicable) /
  • Thefinal exam is on Monday, April 28, 2008 12:20pm-2:10pm in room MH 106 (100-points)

New Venture Creation: Individual Assignments

Assignment Name: Elevator Pitch*

Assignment Type: Individual Assignment

Points: 100-points

Due Date: January 28, 2008, Monday

For this assignment, you will be required to identify an opportunity for a new venture and conduct a one-minute elevator pitch of that venture in front of the class. The new venture elevator pitches conducted by the class are very important as up to five of them will become the topic of your group feasibility projects. Consequently, carefully consider and prepare these pitches. After everyone in class has completed the one-minute elevator pitch, the class will vote and select up to five that seem the most promising upon initial inspection of the idea. Teams will then be formed around these businesses.

Written Portion (70-points)

In addition to the verbalpitch each student must submit a write-up of the idea that includes the following:

  1. Cover sheetlisting your name, the assignment name, the course name, and the assignment due date.
  2. The content of the elevator pitch conducted in front of the class.
  3. A description of how this opportunity meets the following five criteria of an opportunity:
  4. Attractive(e.g., describe why this opportunity is attractive to and entrepreneur/investor—why should you pursue it—what value is there to you or your investor(s))
  5. Durable (e.g., the business opportunity is competitively sustainable—not easily imitated by competitors, unique in some way(s) thus allowing you to have some competitive advantage)
  6. Timely (e.g., based on your research, discuss why you think your concept is being introduced at a time when that opportunity should be accepted relative to the environment/market/industry/etc.—what external trends suggest that the window of opportunity is open for a concept like yours?)
  7. Adds value to customers(e.g., describe the target market using the research you have conducted, what they value, and how your concept adds value to them)
  8. Adds value to network partners (e.g., describe the individuals or firms that you would need to work with you for your business model to work, describe how your firm adds value those people/ firms that you need in order to make your business work—your resource providers)
  9. A bibliography page.

Written Paper Format

  • Be sure to cite the sources of your research in the text of your paper
  • Use 12-point Times New Roman font
  • The document should have 1” margins.
  • Use headings per the outline above (e.g., Elevator Pitch, Attractive, Durable, Timely, Adds Value to Customers, Adds Value to Network Partners, Bibliography)
  • Insert page numbers on the bottom right corner of your paper
  • Staple your documents together in the top left corner. Do not use a binder/plastic cover.
  • Write in complete sentences.
  • Be cautious of your writing skills. Use the Writing Place if necessary.
  • Late papers will NOT be accepted and will receive a zero grade.
  • You can lose points for not following these content and format instructions.

Verbal Elevator Pitch (30-points)