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BA 160-161-162

The Entrepreneurial Process

2006/2007

INSTRUCTORS

Lecturer: Dr Justin Craig

Office: Bexell 400C

Phone: (541) 737-6061

Email:

Office Hours: MONDAY: 12:00 pm – 1:00 pm (BEXELL 400C)

TUESDAY: 2.30 pm – 3.30 pm (Bing’s Café in Weatherford)

WEDNESDAY: 3:00 pm-4:00 pm (BEXELL 400C)

(and by appointment)

Instructor: Sandy Neubaum

Office: Bexell 330

Phone: (541) 737-2616

Email:

Office Hours: TUESDAY: 10:00 am – 11:00 am (BEXELL 330)

THURSDAY: 10:00 am – 11:00 am (BEXELL 330)

WEDNESDAY: 2:00 pm – 3:00 pm (Bing’s Café in Weatherford)

(and by appointment)

Web Page: http://classes.bus.oregonstate.edu/ba160x/

Class Information:

Class Day Time Location

BA 160 WEDS (see itinerary for specific dates) 6:00 pm – 8:00 pm Peavy 130

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Required Text:

Entrepreneurship: A Process Perspective (2004). Robert A. Baron and Scott A. Shane. Thompson Publishers.

Suggested Readings:

New Venture Creation: Entrepreneurship for the 21st Century (6th Edition) (2004). Jeffry A. Timmons and Stephen Spinelli

The Entrepreneurial Venture (1999). William A. Sahlman, Howard H. Stevenson, Michael J. Roberts and Amar Bhide, Harvard Business School Press.

The Systematic Search for Entrepreneurial Discoveries (2002). James O. Fiet, Quorum Books.

Course Description:

The Entrepreneurial Process is a new course for students who are interested in becoming entrepreneurs or entrepreneurial managers. Topics include evaluating entrepreneurial capabilities, creativity and innovation, opportunity assessment and feasibility analysis, business plan creation and implementation, new product introduction, seeking funds and harvest strategies.

Course Delivery Method:

The course will be delivered in a flexible mode (over the three terms) on Wednesday nights from 6-8 pm. The class format will allow Weatherford residents unique networking opportunities not normally afforded to traditional dorm residents. The course (BA160/161/162) is a 4-credit course at a Sophomore level (equivalent to BA260). Credits are distributed as follows: BA160 – one credit hour; BA161 – one credit hour; and BA162 – two credit hours. Students must complete all three sections of the course with a grade of C- or higher to receive full credit for the course.

Course Overview:

The Entrepreneurial Process focuses on the concepts, skills and know-how, information, attitudes and alternatives that are relevant for start-up and early-stage entrepreneurs, entrepreneurial managers and the relevant stakeholders. The course has two fundamental goals. The first is to teach future entrepreneurs and entrepreneurial managers to use the entrepreneurial perspective in order to make better decisions, and thereby positively influence the odds for success, and thus minimize the odds – and costs – of failure. The expectation is that students will enhance their capacity to envision, anticipate and orchestrate what is required in order to succeed. The second aim is to teach effective entrepreneurial and general management practice from the perspectives of the founder and the vital stakeholders that can make a substantial difference in the ultimate success or failure of the entrepreneurial process.

It has been suggested that a key difference between managers and entrepreneurs is that managers are ‘resource driven’ and entrepreneurs are ‘opportunity driven’. Within the broadest definition, entrepreneurs are found in most businesses, since any firm, if it is to survive and prosper, must have some entrepreneurial drive. The central focus of this course, therefore, is the critical role of opportunity creation and recognition, and the entrepreneur, as the principal success factors in new enterprise formation and building. The course is especially relevant for aspiring entrepreneurs bent on launching and growing a business, but also has relevance to those intending joining established firms, including those that are family-owned.

Learning Objectives:

Ø  Identify and determine what entrepreneurs need to know about the critical driving forces in a new venture success.

Ø  Identify how successful entrepreneurs and investors create, find and differentiate profitable and durable opportunities from just “other good ideas,” and how opportunities evolve over time.

Ø  Evaluate and determine how successful entrepreneurs and investors create and build value for themselves, and others.

Ø  Identify the necessary financial and non-financial resources available for new ventures; identify the criteria used to screen and evaluate proposals, their attractiveness and risk, and how to obtain start-up and early growth capital.

Ø  Determine the critical tasks to be accomplished, the hurdles to be overcome during start-up and early growth, and what has to happen to succeed.

Ø  Identify the future consequences of decisions made by entrepreneurs at each point in time; options that are precluded or preserved; and the nastier minefields and pitfalls to be anticipated, prepared for and responded to.

Ø  Determine decisions that can be made to increase the reward to risk ratio at various stages of the company’s development, and thereby change the odds.

Ø  Determine what are the important factors outside the control of the founders, and how critical and sensitive the current context and timing are to all of these above issues.

Ø  Be able to apply the entrepreneurial process to established ventures, including those that are family-owned.

Ø  Understand that business leaders need to have interpersonal skills along with analytic skills. Be able to successfully interact with each other and conduct successful group projects, which include learning shared accountability and responsibility as a way of working with diverse groups of people.

Achieving Learning Objectives:

The course will accomplish these learning objectives through a diverse mix of methods and activities, including:

Ø  Analysis and discussion of actual cases

Ø  Guest speaker presentations and dialogue

Ø  Work in teams to conduct Entrepreneur Interview

Ø  Work in teams to prepare a Feasibility Plan

Ø  Team assignments and exercises

Ø  Outside of class tutorials and meetings with instructors regarding Feasibility Plans

Ø  Lectures and presentations

Class Philosophy:

Classes will be conducted with equal emphasis on lecture and class participation. Class lectures will relate to chapter reading assignments but will not attempt to cover all the material in the text.

All lecture slides, course notes, example papers, additional readings and marking criteria for all assessment will be posted on the BA160 webpage page: http://classes.bus.oregonstate.edu/ba160x/

Email bulletins that contain relevant updates etc. will be sent to all students’ ONID addresses as required.

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Assessment (BA160) Fall Term:

1.  Class Participation (individual grade) 20%

Ø  Attendance at all class sessions (see grading criteria below)

Ø  Personal Vision Statement (due Week 3 – Friday, 10/13/06 by 5:00 pm completed on AEP-Tick website - http://oregonstate.edu/aeptick/

Ø  Attend at least 1 Austin Entrepreneurship Program activity (and journal the experience)

Ø  Begin AEP Journal (Blog and Bank experience during quarter on AEP-Tick website - http://oregonstate.edu/aeptick/

Ø  Peer Review (completed by team members at the end of the quarter)

2.  Entrepreneur Interview (team grade) 40%

Ø  1 page outline (due in class Week 4 – Wednesday. 10/18/06 by 6:00 pm)

Ø  Interview paper (due in class Week 7 – Wednesday, 11/8/06 by 6:00 pm)

3.  Exam (individual grade) 40%

Ø  60 multiple-choice questions (10 questions per chapter)

1.  Class Participation: Entrepreneurship is a “full contact” activity and it is expected that students engage in lively class discussions. Optimum learning will occur if students arrive to each session adequately prepared. Quality input to all class activities will secure a good class participation grade. Participation does not equate to attendance…class attendance is mandatory. Students will be required to attend at least 1 Austin Entrepreneurship Program (AEP) activity over the course of the term and create a journal entry of their experience. Students must also complete their Vision Statement.

Personal Vision Statements

Go to the AEP-T.I.C.K. website http://oregonstate.edu/aeptick/

Locate "Start My Portfolio" on the left side of the Home page, read the Introduction and then get started by clicking on"Introduction". Each student will create a Vision Statement that defines their personal mission. Students should consider how their mission relates to their personal involvement with the Austin Entrepreneurship Program at the Weatherford Residential College. Once you have completed your Vision Statement - submit it on-line for review.

Austin Entrepreneurship Program Activities

https://www.bus.oregonstate.edu/aepfellows/home.aspx

Ø  Fireside Chats

Ø  Visiting Fellow Dinners

Ø  Other AEP programs as announced

Peer Reviews

Each student will evaluate each member of their team at the end of each quarter. Evaluations by your fellow team members will affect the grade you receive for class participation and team assignments.


Indicative grading for class participation:

>90:

Ø  Attend ALL class sessions having completed chapter reading and contributed to class discussion

Ø  Completed Vision Statement prior to Week 3 – Friday, 10/13/06 by 5:00 pm

Ø  Attend 1 AEP activity and document your key learning points on your Blog & Bank journal

Ø  Begin AEP Journal using the Blog and Bank facility on the AEP-T.I.C.K. website

Ø  Stellar Peer Reviews

80-90:

Ø  Attended MOST class sessions (i.e., missed only 1 session) having completed chapter reading and contributed to class discussion

Ø  Completed Vision Statement

Ø  Attended 1 AEP activity – Journal (Blog & Bank experience)

Ø  Began AEP Journal using the Blog and Bank facility on the AEP-T.I.C.K. website

Ø  Positive Peer Reviews

70-79:

Ø  Attended MOST class sessions (i.e., missed only 1-2 sessions) with minimal preparation and contribution

Ø  Completed Vision Statement

Ø  Attended 1 AEP activity

Ø  Mixed Peer Reviews

<70:

Ø  Spasmodic class attendance with minimal preparation and contribution

Ø  Failed to complete other class participation assignments

Ø  Poor Peer Reviews

2.  Entrepreneur Interview: In Week 3, student teams will be required to finalize teams (maximum of five students per team). Each team will be required to conduct an interview with an entrepreneur. Application of the themes and issues covered in lectures and/or class discussion are the keys to a good grade. Each team member will be required to share equally in this assignment and submit a signed Peer Review stating that this was the case. There are two submission requirements:

(1)  a one-page outline detailing the entrepreneur whom your team will interview is due Week 4 (this submission will not be graded however failure to turn in the draft will result in a 10% reduction in your team’s overall grade). Details for the outline will be distributed Week 3.

(2)  a paper (maximum 10 pages, 12-point font, double-spaced) that links the course concepts to the information gathered from the entrepreneur in the interview (one member from each team should email Dr. Craig - a copy of the paper to add to the Weatherford collection).

Indicative grading for Entrepreneur Interview:

>90:

Ø  Team shared workload; identified entrepreneur early

Ø  Submitted outline by Week 4 – Wednesday - 10/18/06 by 6:00 pm

Ø  Submitted paper on time by Week 7 – Wednesday - 11/8/06 by 6:00 pm

Ø  Comprehensive application of course concepts to interviewee

Ø  Professional approach and follow-up (e.g., thank you letter sent)

Ø  Professional writing style (e.g., error free, correct formatting)

80-90:

Ø  Team shared workload

Ø  Adequate but limited application of course concepts in write-up.

Ø  Submitted outline by deadline – Week 4 – Wednesday. 10/18/06 by 6:00 pm

Ø  Submitted paper by deadline – Week 7 – Wednesday, 11/8/06 by 6:00 pm

Ø  Professional approach and follow-up (e.g., thank you letter sent)

Ø  Minor errors in grammar and formatting

70-79:

Ø  Adequate application of course concepts

Ø  Imbalance in team (e.g., one person carries the workload)

Ø  Submitted outline

Ø  Submitted paper by end of term

Ø  Professional approach and follow-up (e.g., thank you letter sent)

Ø  Minor errors in grammar and formatting

<70:

Ø  Unprofessional and disorganized team dynamics

Ø  Failure to apply concepts to interviewee

Ø  No outline

Ø  Submitted paper by end of term

Ø  Major errors in grammar and formatting

3.  Exam: There will be a comprehensive exam at the end of the term. Specifically, students will take one exam that will contribute 40 % of your final grade. The exam will consist of 60 multiple-choice questions that will test student’s knowledge of the key concepts from the text and lecture material.

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Final Grades

The following (final) grade cut-offs will be employed in this class:

A > 92 B 82-87 C 72-77 D 62-67

A- 90-91 B- 80-81 C- 70-71 D- 60-61

B+ 88-89 C + 78-79 D+ 68-69 F <60

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Basic Class Policies

1.  All assignments must be typed.

2.  All assignments must be turned in at the beginning of class. If either you or the assignment is not present when the assignment is collected, the assignment will be considered late and may not be accepted.

3.  If an assignment does not meet course requirements it will be graded accordingly. If you or your team is having difficulties completing an assignment contact Sandy Neubaum to discuss the situation.

4.  If it appears that you or your team will be unable to submit an assignment on time, contact Sandy Neubaum ASAP to discuss the situation.

5.  Show respect for yourself and your fellow classmates.

6.  Turn off your cell phones and your lap tops.

______Team Challenges

Various team exercises will be issued during the quarter by instructors. The teams that have accumulated the most points (1st, 2nd and 3rd place) at the end Spring quarter will be awarded prizes. More details on the team challenges will be announced Week 3.

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Academic Integrity and Cheating Policy

Any case of academic dishonesty will result in a grade of F for the course. This action is allowed by Academic Regulations and Procedures as described in the Schedule of Classes. I expect you to know and understand these policies and regulations..

This includes anyone found to be using the work or analysis of other individuals\groups in the class or other classes (past or present). Anyone who provides information to other students will be similarly disciplined. Exceptions will not be made for graduation status or magnitude/type of dishonesty.

If there is any doubt about their meaning and interpretation, ask for an explanation. This link may help: http://oregonstate.edu/admin/stucon/achon.htm.

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Class Itinerary - BA160 [1]
Introduction to Entrepreneurship (Fall) CREDIT=1
(Dates and topics subject to change)
Week
/
DATE
TIME / Text
Chapter /
CONCEPTS
/ ASSESSMENT DEADLINES
Week 2
10-4-06 / Wed
6-8pm / 1 / Course Introduction Entrepreneurship: Who What Why / Entrepreneurship: A Field – And An Activity / Assessment Clarification
(Interview, Feasibility Plan, Participation, Progressive assessment)
Week 3
10-11-06 / Wed
6-8pm / 2 / The Opportunity / Uncovering opportunities: Understanding Entrepreneurial Opportunities and Industry Analysis / Vision Statement Due
(Friday, 10/13/06 by 5:00 pm (on-line))

Finalize Teams (4-5 people)

Week 4
10-18-06 / Wed
6-8pm / 3 / Assembling
The Resources / Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition / Entrepreneur Interview Outline Due
(Wednesday 10/18/06 - 6:00 pm (hard copy))
4 / Acquiring Essential Information: Why “Look Before You Leap” Is Truly Good Advice for Entrepreneurs /
Week 6
11-1-06 / Wed
6-8pm / 5 / Assembling the Team: Acquiring and Utilizing Essential Human Resources
Week 7
11-8-06 / Wed
6-8pm / 6 / Financing New Ventures /

Entrepreneur Interview Due (team paper) 40% (Wednesday 11/8/06 - 6:00 pm (hard copy))

Week 8
11-15-08 / Wed
6-7pm / 1-6 / Exam / Multiple Choice 40%
(60 questions - 6 chapters
10 questions per chapter)

[1] The Class Itineraries for Winter (BA161) and Spring (BA162) will be distributed and discussed in the latter part of the Fall (BA160) term.