ENTREPRENEURSHIP (Feb, 2012 May 2012) BBA The world as a whole benefits most when you do something new or when you do it better or differently (Roger Babson) Faculty: Dr. Shahid Qureshi Class: Office: Room 21 Office Hours: Wed 11:00 to 1:00 PM Email: squreshi@iba.edu.pk Phone: Ext: 202 COURSE OBJECTIVES: Entrepreneurship is considered the liberal arts of business education. Entrepreneurship means to keep an open mind, think outside the box, re-evaluate your own views of entrepreneurship, and intellectually challenge your peers. Entrepreneurship is a way of thinking and acting. The emphasis of this course is on entrepreneurship as a manageable process that can be applied in virtually any organizational setting. We will be looking at entrepreneurship over the life cycles of people s careers, of organizations as they evolve from start-up enterprise to sizeable corporation. 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. It is an integrative course one that combines material introduced in other MBA courses. Therefore, the emphasis is on applying techniques learned from Organizational Behavior, Accounting, Financial Analysis, Marketing, Operations management and Human Resource Management. The objective is to have a greater understanding of the entrepreneurial process a process of opportunity recognition, resource marshalling, and team building driven by communication, creativity and leadership. When process and passion collide, the seemingly unconnected become connected. New ventures are born, stagnating businesses grow, and failing businesses are reinvented. The course consists of the following major modules 1. The Entrepreneurial Mind for an Entrepreneurial World 2. The Opportunity 3. The Founder and the Team 4. Marketing and Financing Entrepreneurial Ventures 5. Startup and beyond COURSE MAT ERIALS: REFERENCE BOOKS / Material 1. New Venture Creation: Entrepreneurship for the 21 st century, by Jeffry Timmons, Stephen Spinelli, Jr. 8 th edition 2. Entrepreneurship: A process perspective 2e, by Robert A. Barona and Scott A. Shane 1
GRADING & EVALUATION: The final grade in the course will be computed using the following weights: Assignment Individual/Group Percent Class Participation + Quiz Individual 15+5% Entrepreneur Interview Group size 3 10% Mid Term 1: From Case Studies Individual 20% Mid Term 2: Rocket pitch presentation + Biz Plan Group size 3 20% Final Exam Individual 30% CASE STUDY PREPARATION: This course uses cases and examples as an important tool for learning since understanding of entrepreneurship is greatly aided by role modeling and pattern recognition. To be effective all cases require you to prepare carefully before class and participate fully in class. Participation is evaluated by the quantity and quality of your input. Thus, students are expected to adequately prepare for all classes. You are strongly encouraged to bring in outside information (stories) pertaining to entrepreneurship that will interest the class. Participation here will strongly contribute to your overall participation grade. Case study questions will be provided to you. Quality comments are those that move the class discussion forward by: - Revealing important issues - Bringing us closer to some type of decision - Making decisions that are well thought-out, logical and rational. - Offering opinions that are well thought-out, logical and rational - Debating or challenging your peers without personal attack - Tying in relevant course topics (e.g. from assigned readings) ENTREPRENEUR INTERVIEW: Group of 3 to 4 (Maximum 4) student will interview an entrepreneur of their choice. The goal is to provide you with insights about entrepreneurship that cannot be obtained from classroom experience alone. A standard list of questions (Interview Guide) can be found in the course packet. Use this as a foundation for your interview, but don t be hindered by it. You may find that your conversation goes beyond some of these basic questions. Your paper will be a summary of the interview, and an analysis of what you have learned, and your personal assessment. Choose an entrepreneur in an industry that is personally interesting to you. It is your responsibility to identify and contact an entrepreneur; this is part of the course experience. I suggest finding some personal link to the entrepreneur (family, friends, colleagues etc). Some other guidelines are: - Try to conduct the interview in person. Phone or email/skype interviews can be used as a last resort. - Please provide all contact information for the entrepreneur on the cover page of your paper (or staple a business card). 2
- Don t just report the interview, but also critique the entrepreneur s process (e.g., do you agree with the way the entrepreneur launched the business? What should he/she have done differently?) - Analyse the background, opportunity identification, entrepreneurial process in your report. The maximum length of the report is 5 pages. - Interview with an Entrepreneur to be submitted two days before the start of the course ROCKET PITCH: In the Rocket Pitch event each group will present one idea and business concepts during class. Each group is required to prepare 1. The Rocket Pitch Profile 2. Maximum three PowerPoint slides Everyone will have FIVE MINUTES ONLY to pitch their idea to the class. The detailed information about the rocket pitch is provided at this web page. http://faculty.babson.edu/academic/sye3/rocketpitch/student/index.htm Assignment Submission Dates Interview with an Entrepreneur to be submitted by 1 st March. 3
Course Outline 1 Introduction to the course The case method of study and participant centered learning The Compleat Entrepreneur by Daryl G Mitton 2 Babson Case: Roxanne Quimby A Roxanne Quimby, Burt 3 Babson Case: Roxanne Quimby B 4 Introduction to Entrepreneurship Stanford Case: Daksh (A): 1999 Business Plan 5 Entrepreneurial Mind and Process Readings Ch:2 The Entrepreneurial Mind pg 45-55 Ch:3 The Entrepreneurial process pg 109-116 HBS Case: The Piercer 6 Readings Ch:5 The Opportunity: Creating, Shaping, Recognizing, Seizing pg 147-172 Ch: 6 Screening Venture Opportunities, Pg 187-188 7 Business Plan Babson Case Study: ILinc Case Study of a start up Ch: 8 The Business plan pg 275-277 8 HBS Case: Heather Evans 9 LUMS case study: Polycon what next? 10 Review Session Idea Generation Exercise Rocket Pitch introduction Group Formation, Distribution of exercise sheets and group work 11 HBS Case: Siam Canadian Case 12 Presentations on the Rocket Pitch Groups to present with a presentation time of 3-5 minutes each 13 Binjj on the Apple IPAD 14 Entrepreneurial Leader and the T eam and Resources Ch:9 Entrepreneurial leader and the team pg 307-328 Ch:11 Resource requirements Pg 377-389 15 HBS Case Study: TCS: An Entrepreneurial Air-Express Company in Pakistan Khalid Awan, Jamil Janjua, Saqib Hamdani 4
16 HBS Case: Golden Star Facilities and Services Private Ltd. 17 LUMS Case: Style and Trends A, B Muhammad Ali Tariq, Shehzad Mehboob Elahi, Nadira Sabahuldin 18 Topic: Entrepreneurial Marketing HBS Case Study: Office Tiger 19 HBS Reading Dubai: Global Economy HBS Case Study: Fareej Case Study 20 HBS Case: Online Marketing at Big Skinny Mid Term 21 Entrepreneurial Finance Ch:13 Entrepreneurial Finance pg 425-433 HBS reading: Valuation Techniques Work on the Financial Plan Template HBS Case Study: Paint Pen Inc 22 HBS Case: R&R 23 HBS Case: Measuring the game of Golf 24 Intrapreneurship HBS Case Study: Serengeti Eyewear Entrepreneurship within Corning 25 Entrepreneurial Career Planning 26 Social Entrepreneurship HBS Case Study: Honey Care Africa, Kenya A tripartite Model 27 The Origins of Western Social Science 28 WRAP UP Session Lessons from Germany s Midsize Giants HBS Reading Bill Millers video clips WRAP UP of the course 5