Introduction to Entrepreneurship

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1 Instructors: Office: ONLINE COURSE SYLLABUS EEE 3023 Introduction to Entrepreneurship Dr. Rubin Pillay Phone: s: Office Hours: School of Entrepreneurship Oklahoma State University Summer Spears School of Business by appointment (gladly!) EEE Website: Course Site: Desire2Learn (Online Classroom): Technical & Enrollment Support: CEPD Distance Learning Office, 108 Gundersen, or call (866) or (405) Technical Assistance Video Lectures: I. Course Overview: Welcome to the entrepreneurial revolution! EEE 3023 is an introductory course intended to provide students with a solid foundation in terms of the vital role played by entrepreneurs and entrepreneurship in the 21 st century global economy. During this semester, we will assess, explore, critique, and celebrate the phenomenon of entrepreneurship. Entrepreneurship is approached as a way of thinking and acting, as an attitude and a behavior. Our emphasis is on entrepreneurship as a manageable process that can be applied in virtually any organizational setting. Moreover, our interest is in sustainable entrepreneurship, or entrepreneurship over the life cycles of people s careers, the life cycles of organizations as they evolve from start-up enterprise to sizeable corporation, and the developmental cycles of societies as they move from undeveloped to post-industrial. However, our principal focus will be on the creation of new ventures, the ways that they come into being, and factors associated with their success. This is a course of many ideas and questions, and you will be encouraged to develop and defend your own set of conclusions regarding each of these issues. It is also a course that integrates a number of different disciplines, ranging from sociology and psychology to economics, finance, marketing, and human resource management. Further, it is a course that mixes theory with practice, and you will be challenged to apply principles, concepts and frameworks to real world situations. II. Course Objectives: The course is built around a number of core objectives. By the end of the semester, you should be able to: Recognize the entrepreneurial potential within yourself and others in your environment;

2 EEE 3023 Syllabus, Summer 2010, Online Version, Page 2 of 7 Appreciate the role of entrepreneurship within society, at the level of the organization, and in your own personal life; Grasp the fundamental importance of key values in explaining entrepreneurial success; Understand the process nature of entrepreneurship, and ways to manage the process; Identify the many ways in which entrepreneurship manifests itself, including start-up contexts, corporate contexts, social contexts, public sector contexts, and others; Develop an appreciation for opportunity, how to recognize it, and how to evaluate it; Appraise the nature of creative new business concepts that can be turned into sustainable business ventures; Appreciate the ethical issues that are intimately intertwined with entrepreneurial activities, and develop a personal framework for managing ethical dilemmas. III. Texts (Required): Entrepreneurship: Successfully Launching New Ventures, (2010), 3rd Edition, Bruce R. Barringer and R. Duane Ireland, Pearson Prentice Hall. Readings and Case Packet (available for purchase through Cowboy Copy, located on the Strip S. Washington) IV. Student Assessment/Evaluation: -Midterm Examination 20% -Final Examination 20% -Original Concept and Online Discussion * 15% -Business Model ** -Group Case Strategy (posted & discussed online)*** 15% 15% -Class Participation (online discussions) 15% -Entrepreneurship Diary (extra credit---not required) -Interview of Entrepreneur (extra credit---not required)**** worth +5 on final grade worth +5 on final grad * Students will form teams (maximum of three people per team) for the purposes of coming up with an original business idea, translating the idea into a wellconceptualized business concept, and then managing an online discussion of their idea for a week. ** Students in the business concept teams will, once they have completed the online discussion of their concepts, turn the concept into a formal business model following the structure provided in the online video and in the reading found in the Course pack. This business model must demonstrate the basic market and economic feasibility of the proposed business idea. Please note that the students are not developing a full business plan, and the specific issues to be addressed in the business model differ from those in a full business plan. A framework for doing the analysis and write up the business model will be presented in class.

3 EEE 3023 Syllabus, Summer 2010, Online Version, Page 3 of 7 *** Students will form three person teams for the purpose of analyzing a case. Each team will be responsible for an on-line presentation of their solution for one of the assigned cases. Cases will be selected by the teams during the first week of classes. A framework for the analysis will be provided. You are graded on the write up of your solution to the case (that we will post to the D2L site) and on your coordination of the discussion for the week that you case is posted. I will have phone conversations with each team prior to their presenting the case to help ensure they are on the right track. Note: Extra credit opportunities may be made available on occasion. Two of these will be the Entrepreneurship Diary that must catalog new venture ideas that students come up with each week of the semester and another is an interview of an entrepreneur (see below). V. Extra Credit-The Interview and the Entrepreneurship Diary: Students can earn up to five points added to their final grade for interviewing an entrepreneur. This must be done individually. The interview must follow the outlined structure provided in class (posted on D2L). Selected entrepreneurs must have ventures at least two years old with a minimum of five employees and preferably ten or more employees. You can also earn extra credit on your overall course grade by keeping a personal diary of business ideas. There should be at least one entry (an idea for a new business) in your diary for each week in the course. These ideas can come from anywhere, including reading various business publications, your own life and work experiences, or things you observe in everyday life that could be done differently or better. For example, is there a good or service that you desire but cannot readily obtain? Are there goods or services that are of poor quality or delivered poorly? Ideas can also come from observing friends and relatives. As you proceed through the course, you should develop the ability to judge the potential of each idea. When it comes time to produce the Original Concept and Business Model, the best ideas in your diary will be potential concepts. VI. Participation Policy: This is an online course. Students are required to be involved in all the weeks on the course by reading the assigned material, preparing the cases, watching the videos each week, going through the powerpoint slides, and participating in the weekly discussion boards. You can participate any time (24/7) and from anywhere. Failure to meet these responsibilities each week is not acceptable except in highly unusual, emergency situations. If you fail to participate in more than two of the discussion boards during the semester you will forfeit one letter grade (10%) in the course. VII. How the On-line Class Will Work Each Week Each week you should first consult the course syllabus to determine the readings and case assignment for that week. After you complete the readings you should log onto the course D2L site, and go to CONTENT where you will find the modules or weeks of the course. Go to the module for the week in question, and watch the videos associated with

4 EEE 3023 Syllabus, Summer 2010, Online Version, Page 4 of 7 that module. Each week there are two or three content videos, and one values video. You should also open up the powerpoint slides associated with that module. They will be discussed in the content videos. Occasionally there will also be class handouts also posted to D2L for a given module. These will also be discussed in the content video. Finally, each week you will participate in two discussion boards. One is a discussion board for the case for that week, and the other is the discussion board for the concept for that week. So here is what you do. Go to Content find the current module, and look for the posted Case Solution and the posted Concept for that week. Read these. Also be sure to read the case for that week (the cases are assigned at the end of this syllabus under Course Structure and Reading Assignments, and can be found either in the Barringer and Ireland textbook or in the Course Readings Packet). Once you have reflected on the case and the case solution, and on the posted concept, you are ready to participate in the two discussions. You will go to the discussion board and jump into the conversation of that case. Separately, you will go to the discussion board and jump into the conversation of that concept. You can jump in to both discussions any time, day or night. VIII. Academic Integrity Oklahoma State University is committed to the maintenance of the highest standards of integrity and ethical conduct of its students. This level of ethical behavior and integrity will be maintained in this course. Participating in a behavior that violates academic integrity (e.g., unauthorized collaboration on homework or assignments, plagiarism, multiple submissions of the same assignment, cheating on examinations, fabricating information, helping another person cheat, having unauthorized advance access to examinations, altering or destroying the work of others, and fraudulently altering academic records) will result in your being sanctioned. It is expected that all work submitted (papers, analyses, quizzes, examinations, homework, etc.) will be the student s individual work. Violations may subject you to disciplinary action including the following: receiving a failing grade on an assignment, examination or course, receiving a notation of a violation of academic integrity on your transcript, and being suspended from the University. IX. Students with Disabilities/Special Needs If you are a student with accommodation needs, please be sure to register with the Office of Disability Services. Contact us at the beginning of the semester so that we are aware of your specific accommodations. This will help you achieve success in the course. X. Course Structure and Reading Assignments Please note that we may at times move at a slower or faster pace depending upon class circumstances, student questions, and comprehension: Week One June 6 Introduction to Course and to the Nature of Entrepreneurship; Defining Entrepreneurship; What is an Entrepreneurial Mindset? The Entrepreneurial Process; Why Approaching Entrepreneurship as a Process is Central to the Course and the Concept?; An Integrative Model of Entrepreneurship

5 EEE 3023 Syllabus, Summer 2010, Online Version, Page 5 of 7 Read Barringer and Ireland, Chapter 1, Introduction to Entrepreneurship and Reading #1 in the packet (America s Entrepreneurial Revolution Goes Global) The Vital Role of Entrepreneurship in the Economy; Forces in the Environment that Facilitate and Constrain Levels of Entrepreneurship in a Society or Community; How to Encourage Greater Levels of Entrepreneurship Read Reading #2 in the packet (The Environment for Entrepreneurship) Assigned Cases: Artemis Images; Eric Chang Week Two June 13 Who is the Entrepreneur?; Sociological and Psychological Characteristics; The Different Types of Entrepreneurs; Nature versus Nurture---Why Entrepreneurs are not Born; The Role of Individuals vs. Teams; Creativity and the Entrepreneur; Read Barringer and Ireland, pages 9-17, and Reading #3 in the packet (The Entrepreneurial Individual) and Reading #4 (An Interview with an Entrepreneur sample student interview); Read Barringer and Ireland, Chapter 9, Building a New Venture Team Understanding the Nature of Opportunity; Defining Opportunity; An Opportunity is Different from a Business Concept; Sources and Types of Opportunity; Discovery versus Search; Where are the Emerging Opportunities; Evaluating Opportunity; Factors that Undermine an Opportunity; Windows of Opportunity; Understanding the Market and the Customer Need; Read Barringer and Ireland, Chapter 2, Recognizing Opportunities and Generating Ideas, and Reading #5 in the packet (The Nature of Promising Start-ups); Read Barringer and Ireland, Chapter 5, Industry and Competitor Analysis, Assigned Cases: Greg Thompson; John Morse Week Three June 20 Developing a Great Business Concept and Business Model; From Product to Business Concept (the Value Proposition); From Business Concept to Business Model; From Business Model to Business Plan; The Nature of Successful Business Concepts; Sources of Concepts; What Makes for a Good Concept; Components of a Complete Business Model; A Look at Successful and Failed Business Models; Read Barringer and Ireland, Chapter 6, Developing an Effective Business Model; Reading #6 (Developing and Testing the Business Concept); Reading #7 (Understanding the Business

6 EEE 3023 Syllabus, Summer 2010, Online Version, Page 6 of 7 Model of the Entrepreneur) and Reading # 8 (Sample Business Model by a Student) Expectations about Size, Growth, Returns, and Risk; What About the Investment Model (Income, Growth, or Speculative)?; Ways of Extracting Returns from the Venture; Types of Ventures; What it Takes to Actually Start a Venture; Four Ways to Enter a Market; The Concept of Risk; Types of Risk; Assessing Risk in a New Venture; Risk and Return Read Barringer and Ireland, Chapter 4, Writing a Business Plan; Read Reading #9 (Be Careful, You May Succeed) Assigned Cases: Kazoo & Company; Ray Davidov and Ken Voorhies Week Four June 27 The Economics of Start-up Ventures; Types of Costs; Breakeven Analysis; The Concept of Operating Leverage; A Simple Economic Model of the Venture; Economic Models that Make Sense and Don t Make Sense; Midterm (take home) July 1 Read Barringer and Ireland, Chapter 3, Feasibility Analysis, and Chapter 8, Assessing a New Venture s Financial Strength and Viability; Read Class Handout on the Economic Model (posted on D2L) and Sample Student Business Plan (posted on D2L) Financing a New Venture; Sources of Finance; Criteria Used by Different Sources of Finance; When to Go for Which Source Read Barringer and Ireland, Chapter 10, Getting Financing or Funding, and Reading #10 (Everything You (Don t) Want to Know About Raising Capital); Assigned Cases: Mark Juarez; Sally Corbin Week Five July 4 Valuation and Deal Structure; Placing a Value on a Business and Why it Matters in Entrepreneurship; Approaches to Valuation; Quantitative and Qualitative Issues; Purchasing a Business Read Handout on Valuation posted on D2L Innovation, Technology and the Entrepreneur; Disruptive vs. Sustaining Technologies; The Technology Life Cycle; Four Technology Decisions the Entrepreneur Must Make; Understanding Key Issues In Innovation and New Product/Service Development

7 EEE 3023 Syllabus, Summer 2010, Online Version, Page 7 of 7 Read Barringer and Ireland, Chapter 12, The Importance of Intellectual Property, and Reading #11 (Innovation, Sustainability and Change) Assigned Cases: Zazzle; Intellifit Interview of an Entrepreneur due Monday, March 29 Week Six July 11 Marketing, Strategy, and the Entrepreneur; How Marketing Evolves in Start-up Firms; The Marketing Mix; Product Strategies; Setting Your Prices; The Unique Selling Proposition; Crafting a Communications Approach; The Guerrilla Marketing Concept; Setting Up Distribution Read Barringer and Ireland, Chapter 11, Unique Marketing Issues; Read Reading #12 (Buzz Marketing) Week Seven July 18 Setting Up Operations; Legal Issues with a New Venture; Understanding your Operating Model; Capacity, Quality, Consistency, Bottlenecks and Service; Forms of Organization; Franchises, Bankruptcy and Other Issues Surrounding Failure; Desire for Growth and Ability to Manage Growth; Read Barringer and Ireland, Chapter 7, Preparing the Proper Ethical and Legal Foundation, and Chapter 15, Franchising; and Chapter 13, Preparing For and Evaluating the Challenges of Growth Assigned Cases: Proactiv; Got Junk Week Eight July 25 Growth, Harvesting and Exit; Ethical Issues and Entrepreneurs Why Entrepreneurs are not always Great Managers; The Concept of Organizational Life Cycles; Family Business Issues; Exit Strategies; What about Ethics?; Unique Ethical Challenges in Entrepreneurship; Where is Your Ethical Reference Point? Read Barringer and Ireland, Chapter 14, Strategies for Firm Growth and re-read Barringer and Ireland Chapter 7, Preparing the Proper Ethical and Legal Foundation, and Read Reading #13 (The Five Stages of Small Business Growth) Assigned Case: Jessica Wallace Final Examination (take home) Extra Credit Assignment due Monday, August 1 Business Model due Monday, August 1

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