ENTREPRENEURSHIP AND INNOVATION. BUS 30a. Spring Semester

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1 ENTREPRENEURSHIP AND INNOVATION BUS 30a Spring Semester CHARLES REED, JR. Co-Director, Asper Center for Global Entrepreneurship Senior Lecturer in Entrepreneurship INTERNATIONAL BUSINESS SCHOOL BRANDEIS UNIVERSITY

2 ENTREPRENEURSHIP AND INNOVATION BUS 30a Course Overview The Entrepreneurship And Innovation course 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 30a) 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.

3 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 Brandeis University 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 CREEDJR40@comcast.net or call

4 ENTREPRENEURSHIP AND INNOVATION SPRING TERM 2012 MATERIALS LIST TEXT Timmons, Jeffrey A., Creating New Ventures, 8 th Edition, Irwin/Mcgraw- Hill, ISBN From Harvard Business School Publishing: HBSP Case Numbers R & R, Deaver Brown and Cross River, Developing an Elevator Pitch, How to Write a Great Business Plan, HBR Reprint Selling as a Systematic Process, Thoughts on Business Plans,

5 ENTREPRENEURISM & INNOVATION BUS 30a 2012-COURSE OUTLINE JAN 23 JAN 30 Read Ch 1 and Ch 2 in textbook New Venture Creation, 8 th Edition, McGrall-Hill (Entrepreneurism) Read Guide to Case Analysis. Role 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 relationship software) was a significant success. FEB 6 Read Ch 3,4, 5 and Ch 6 in NVC. (Opportunity) Focus on the Quick Screen and Venture Opportunity Screening Guide Prepare "R & R" (Coursepak) to discuss in class. Feb 13 Read Ch 8 in NVC. (Business Plan) Read How to Write a Great Business Plan, HBR Reprint Read Thoughts on Business Plans, HBSP Apply QS and VOSG to Jim Poss, Pp and be prepared to discuss the opportunity in class. FEB 20 NO CLASS - MIDTERM BREAK FEB 27 Read Selling as a Systematic Process, HBSP Read Developing an Elevator Pitch, HBSP Team with another student and prepare a product pitch for the strollers in Deaver Brown and Cross River, HBSP Individually, Turn in an outline of an elevator pitch for DB & CR in class.

6 MAR 5 Read Ch 9 in CNV. (Entrepreneurial Manager and Team) Prepare Maclean Palmer, Pp , to discuss in class. MAR 12 Read Ch 11 in CNV. (Resource Requirements) Prepare Quick Lube Franchise Corp., Pp , to discuss in class. MIDTERM OUT DUE IN BY MARCH 19th at START OF CLASS MAR 19 MID-TERM DUE AT START OF CLASS! Read Ch 13 and Ch 14 in CNV. (Entrepreneurial Finance) Prepare Midwest Lighting, Pp , to discuss in class. MAR 26 Read Ch 15 in CNV. (Structuring, Valuing, Negotiating) Read Ch 16 in CNV, (Debt Capital) Prepare Lightwave Technologies, Pp , to discuss in class. APR 2 Prepare Newland Medical Technologies, Pp , to discuss in class. APRIL 9 - PASSOVER AND SPRING RECESS - NO CLASS APR 16 Read Ch 17 in CNV. (Family As Entrepreneur) Prepare Indulgence Spa Products, Pp , to discuss in class. FINAL EXAM OUT: DUE APR 23 AT THE START OF CLASS APR23 FINAL EXAM DUE AT THE START OF CLASS Read Ch 19 in CNV. (Harvesting) Prepare Optitech, Pp , to discuss in class APR 30 Read Ch 9 in CNV. Take Ethics exercise, Part 1. Prepare to discuss role of ethical issues in Creating New Ventures. Summary.

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