MGT 3333 Field Study in Entrepreneurship. Students, working in groups under the direction of their professor, will assess the problems of an embryonic or operating entrepreneurial organization & recommend appropriate solutions.
Entrepreneurship & iPhone Apps. For the Fall 2009 semester, MGT 3333 will explore entrepreneurship through the hands-on exercises of teams of students developing & marketing iPhone applications. MSU Students from all majors form teams to develop an iPhone application & prepare the application for submission to the Apple Apps store by the end of the semester. Students will select their team members, create their governance structure, assess the market, design & create an application, market the application, prepare written business plan components, present oral team progress reports, & finalize their application for submission for review by Apple. Class meets weekly & each team will report to a faculty advisor.
Objectives. Students will learn, implement, & demonstrate
· general entrepreneurship & the iPhone Application market
· innovation & creativity
· product team formation & governance issues
· product team management & scheduling
· market analysis
· product design, testing, & focus groups
· branding & connecting with target customers
· legal and ethical issues of entrepreneurship, including the Apple Programming Agreement
· dynamic product pitches
· capital acquisition and ownership issues
Time/Location. Wednesday, 5:00-7:30, McCool 128
Instructors. Dr. Melissa Moore, Dr. Rob Moore, Mr. Gerald Nelson, Dr. Allison Pearson, Dr. Rodney Pearson
Textbook. Entrepreneurship Theory, Process, Practice, 8th Edition, Donald F. Kuratko. South-Western.
Grades: Grades will consist of the simple average of (1) Exam 1, (2) Exam 2, (3) Deliverable grades average (4) Project & Presentation Grade (5) Individual contribution to the team, as assessed by team. Final grades in the class will be determined by a 10-point scale, with 90-100 equal to an A, etc. Any student with 2 or more unexcused absences in the course will automatically fail the course, regardless of other grades.
Course Requirements
1. Each team must have at least one iPhone or iPodTouch. All programming must be done on a Mac (Macs are available in MSU public computer labs in the Library and Butler Hall). Programming in Objective C will NOT be taught at part of MGT3333/MGT6990. See next item with regard to programmers and other necessary skills.
2. Students will form their own teams of 3-4 members*. You will not be assigned to a team. You must promote your skills and form your own team. Teams should have members who can fulfill the following roles:
Technical Expert
What skills do they need?
· Objective C Programmer to write new code for your app , or
· Objective C Programmer who has already created an app, but the app needs improvement in design, function, features, look, marketing, etc. This person will need to be willing to modify the app and make programming changes in accordance with the team schedule. While it is preferable the Technical Expert be enrolled in the course MGT 3333, it is not required.
Where can I find one?
· iPhone class from Spring 2009
· iPhone class from Fall 2009
· self-taught iPhone programmers, possibly majoring in Computer Science, Computer Engineering, Business Information Systems or other majors.
· MSU employees who have developed apps in ITS, Library, etc.
Marketing Expert
What skills do they need?
· understanding of consumer needs and wants
· ability to conduct market analysis and focus groups
· ability to guide product design, including visual design, product names, etc.
Where can I find one?
· Marketing majors
· Public relations majors, Art & Design majors or other majors
Business Analyst
What skills do they need?
· ability to conduct market analysis and identify trends
· ability to anticipate market trends based on sales growth and industry patterns
· ability to conduct sales analysis
· project schedule oversight and coordination of team activities
Where do I find one?
· Any Business major
· Engineering majors in the Entrepreneurship Certificate program or other majors
4. Communication Expert
What skills do they need?
· knowledge of public relations
· ability to do graphic design
· ability to prepare and delivery quality presentations
Where do I find one?
· Communications/Public Relations majors
· Marketing majors or General Business majors
· Art & Design majors or other majors
* A team member can fill multiple roles as long as they have the necessary skills, abilities, and motivation.
What skills do you have?
For questions about the course, please contact:
Dr. Allison Pearson Dr. Rodney Pearson
302 G McCool Hall 302 E McCool Hall
325-7015 325-1995
Class Meeting / Date / Topics / Deliverables Due1 / 08/19 / 1. Overview of the Course
2. Overview of the iPhone Application Industry.
Overview of iPhone applications.
Overview of the Apple app store.
3. Chapter 1, Entrepreneurship & Chapter 2, The Entrepreneurial Mind-Set of Individuals
“Hot Trends to Watch”, p. 13
“The Age of the Gazelles”, p. 18
4. Forming a Management Team
“Developing I-Teams”, page 69.
AFTER CLASS:
1. Continue to peruse Apps store, internet, publications, popular press to mull over ideas for your own great App.
2. Get to know your classmates. Who would make a good team member? What skills do they have? What skills do you need?
Class Meeting / Date / Topics / Deliverables Due
2 / 08/26 / 1. Review of Week 1: Who is an Entrepreneur
Refer to Chapter 2
2. Initiating Entrepreneurial Ventures
Chapter 5, Innovation: The Creative Pursuit of Ideas
3. “Types of Innovation” (and Your iphone App)
Page. 141
“ The Major Misconceptions of Innovation”
“Principles of Innovation”, p. 142
4. What is the HIG? An overview of iPhone Programming Requirements
5. Discussion of DELIVERABLE #1
Section V of the Business Plan (see page 356-257)
AFTER CLASS:
1. What is the app you want to pursue?
2. Form your team.
3. Prepare Deliverable #1 to turn in at the beginning of the next class meeting. Be prepared to introduce your team to the class. / 1. Be prepared to name at least 4 individuals in class (that you did not know prior) and identify their major and their key skills.
2. Be prepared to present to the class at least one broad idea for an App.
Class Meeting / Date / Topics / Deliverables Due
3 / 09/02 / 1. Overview of Developing an Effective Business Plan
Chapter 12, page 348.
2. The Apps store “Industry”
3. Exploring Entrepreneurial endeavors & goals
4. Section II of the Business Plan
Establishing goals and timelines for your iphone app development.
5. Team Support Time
AFTER CLASS
1. Teams should work diligently to decide the App to pursue. Is it a new product? Will you refine an existing product? Are you using all your team talents to develop this idea or is it a “technical” product only?
2. Teams should prepare Deliverable #2 to turn in at the beginning of the next class. / DELIVERABLE #1
Business Plan Section V: MANAGEMENT
A. Management Team 1)list team members, with assessment of skills and abilities
2) describe team assignments & responsibilities
B. Legal Structure
1) Governance agreement
2) Ownership Issues. Clearly establish who owns by percentage the IP for the app your team will work with.
C. Directors, Advisors, Consultants
1) List who will advise your project
Class Meeting / Date / Topics / Deliverables Due
4 / 09/09 / 1. Chapter 9, Assessment of Entrepreneurial Opportunities
Now that each team has formed and created and initial “dream” App, is it a good idea or not?
2. “Why New Ventures Fail”, p. 265.
3. Re-evaluating the Feasibility of your App
4. Team Support Time
AFTER CLASS
1. After re-evaluating your App feasibility, are you confident to proceed with your team idea? Revise your Business Plan as needed.
2. Continue to pursue the technical development of your App.
3. Is your team working together? Working independently and then “cutting and pasting” work is not reaping the benefits of your unique knowledge and skills. Spend more time together. Go bowling and just chat about your App. / DELIVERABLE #2
Business Plan
Section I: Executive Summary (1-2 paragraphs)
Section II: Business Description
A. General Description of iPhone App
1) Category
2) Sketch
B. Industry Background
C. Development Goals & Timeline
D. Uniqueness of App
Class Meeting / Date / Topics / Deliverables Due
5 / 09/16 / 1. Chapter 10, Marketing Challenges for Entrepreneurial Ventures
2. Marketing Research – scoping out the customer, target market, & market segmentation
3. Marketing Research – scoping out the competition
4. Developing the Marketing Concept (p. 294)
5. Consumer Behavior (p. 296)
6. Pricing (p. 302)
7. Naming your App
AFTER CLASS
1. Complete deliverable #4
2. Study for Exam 1 / DELIVERABLE #3
Business Plan Section IV: Operations
Specific Operational Procedures of iphone App
1) Initial Product Code & Functionality
2) Technical Goals and timeline
3) Problems the team can identify in the functionality of the code
Class Meeting / Date / Topics / Deliverables Due
6 / 09/23 / 1. Exam 1: 5:00-6:15
2. Team Support Time 6:30-7:30
AFTER CLASS
1. Your team should be working diligently on your App. Does it meet the needs of your consumer? Is it interesting? Is it visually appealing? Seek help outside of class from your professors. / DELIVERABLE #4
Business Plan Section III: Marketing
(See page 357)
A. Research & Analysis
B. Marketing Plan
Class Meeting / Date / Topics / Deliverables Due
7 / 09/30 / 1. Apps through new eyes – the eyes/mind of an Entrepreneur
2. Team Support Time
Class Meeting / Date / Topics
(fall break will be 5th and 6th) / Deliverables Due
8 / 10/07 / 1. Customer Service & the Supporting Web Page
2. How to develop the Supporting Web Page
3. Team Support Time
Class Meeting / Date / Topics / Deliverables Due
9 / 10/14 / 1. Meeting Customer Needs & Desires
Focus Groups. What are they? How to conduct focus groups.
2. Using (or not) Focus Group Results. Discussion of how focus groups results could be incorporated or discounted. Guidelines for conducting your own focus group, including IRB and ethics.
3. Designing your Focus Group
4. Team Support Time / DELIVERABLE #5
1. URL for supporting web page. Include under Marketing Section of Business Plan
Class Meeting / Date / Topics / Deliverables Due
10 / 10/21 / 1. The Revised Business Plan (page 371)
How to incorporate feedback and improve the plan and the product
2. What is the final “look” of the Business Plan? (page 353 and 354)
3. Team Support Time / Deliverable #6
1. Conduct Focus Group – Include under Marketing Section of Business Plan
2. Report Results
3. How will you incorporate feedback & revise App?
4. What feedback will you ignore and why?
5. Did the focus group result in better ideas for your App?
Class Meeting / Date / Topics / Deliverables Due
11 / 10/28 / 1. The “Pitch”: Presenting your Business Plan and App
2. Pitching on the App Store
3. How to design your App Store Pitch
4. Does your App meet the technical requirements of the HIG?
5. Team Q & A
Ask anything and everything about your App, Business Plan, Presentation, etc.
6. Team Support Time
Class Meeting / Date / Topics / Deliverables Due
12 / 11/04 / 1. Capital formation: From Product to Company
Chapter 8, Sources of Capital for Entrepreneurial Ventures, p. 209
Stanford Video
2. Read “Social Lending Provides Capital When Commercial Lenders Won’t”, p. 212.
3. Owning and Operating your own software development firm – lessons learned from a successful entrepreneur
4. Team Support Time / DELIVERABLE #7
1. Provide documentation for the App Store. Include in Marketing Section of Business Plan.
Class Meeting / Date / Topics / Deliverables Due
13 / 11/11 / 1. Preliminary Presentations to class / Deliver Team Preliminary Presentations to Class. Demonstrate App. Collect Feedback
How will you incorporate feedback before final presentation?
14 / 11/18 / LAST DAY OF CLASS
1. Exam 2, 5:00-6:16
2. Last Chance for Team Time Assistance / DELIVERABLE #8
Complete & Final Business Plan
15 / 11/25 / Thanksgiving Holiday
16 / 12/2 / Reading Day
17 / 12/9 / Last day of final exams.
1. Final Apps must be submitted to Rodney Pearson who will act as an Apple Reviewer to determine if technical feasibility of the app
2. Final Presentation each Team
3. Conclusion & Review – Was the class a good experience? A useful experience? / DELIVERABLE #9
Technical Code
PRESENTATION
Entrepreneurial Intent Measure
After
Semester
Ends…. / 1. Win a Paid Apple Developer Fee. After the course concludes in Dec. 2009, a maximum of 10 team projects from MGT 3333 will be selected for submission to the Apple Apps store. One developer application fee per team will be paid for by the MSU Entrepreneurship Center.
2. Enter the MSU Business Plan Competition.
All class projects will be eligible to enter the MSU Entrepreneurship Center Business Plan competition in April 2010, with a cash prize going to the winning team.
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