ENTREPRENEURSHIP SKILLS (B283)

CLASS SYLLABUS

  • Instructor:D. Mark Nygren
  • E-mail:
  • Office: Smith Building- Room 208A (Available by appointment)
  • Phone: 496-1846
  • Texts: Small Business Management: An Entrepreneurial Emphasis, E-Myth Revisited
  • Credits:3 Semester hours

Course Description

This is an overview of small business management, with some emphasis in Entrepreneurship for larger scale ventures. I will assume the role of a facilitator, there will be very few lectures in this class . You will be required to act vs. being acted upon. Entrepreneurship creates an environment of freedom and self expression. Don’t wait to be told everything to do. Entrepreneurs must learn to embrace ambiguity and change. A good portion of thisclass will be taught by students participating and sharing their ideas as well as guest entrepreneurs. We are all TEACHERS and only you are responsible for your education. There will be a 50% reduction for any late papers, no exceptions.

Course Objectives

1. To acquaint the student with the personality traits and practices of entrepreneurs. Evaluate personal attributes and skills associated with entrepreneurs.

2. To provide information used in the establishment and operation of a new business idea, franchise, family-owned business, or the process to select an existing business.

3. Develop practical skills in the application of information, principles and practices to small business situations through in-class activities and outreach projects.

4. To increase presentation and teamwork skills useful in the business environment through team presentations and competitions.

5. To help ignite the spirit of entrepreneurship, explore the basic elements of a business plan, and expose you to entrepreneurs in the community.

6. To encourage you to take the plunge and become a job maker rather then a job taker, anyone can take a job, but not everyone can become an entrepreneur.

7. To invite you create wealth, you are 4 times more likely to become a millionaire be starting your own business and to share that wealth as a social conscience entrepreneur, give back.

Grading Components

Evaluation:Grades will be based on the following point system.670 Points possible

1) Reading AssessmentQuizzes and Final ------220 Points

There will be four unitquizzes given in this course from the reading.Quizzes will be given on the date indicated on your class schedule, consisting of multiple choice and true and false questions worth 2 points each. All exams will be given in the testing center, unless indicated otherwise by your instructor. Study guides are available on my homepage under B283. I will not be teachingjust from the text, class time will be used to share personal experiences. These tests are intended to evaluate rather or not you have done your readings. Do not expect to do well on the exams if you have not thoroughly read the text and worked through the study guides. You paid for it, why not read it, you are responsible for your education. There will also be a quiz on the E-Myth, so come prepared on the date scheduled, it will consist of 10 questions from the E-Myth book and will be worth 20 Points. Exam 1 is worth 30 points, exam 2 30 points, exam 3 40 points, exam4 30 points, and the final 70 points. There will also be some pop quizzes given in class.

2) October SkyReflection paper------25 Points

Please prepare a typed one to two page double spaced summary of any key personal findings you gained by watching October Sky. You may have seen this film before, but this time I want you to watch it through the eyes of an entrepreneur. Your paper should address entrepreneur concepts, principles, examples of entrepreneur thinking, strategies, and behavior that come alive for you in this film. Class attendance is a must on all case discussions. Be sure and visit the websites and . Be prepared to discuss your paper and each video in class on the dates indicated on your class schedule. Each team will discuss the two questions they will be assigned in class and present their findings to the class.

3) Personal WrittenBusiness Plan------100 Points

Each student will be responsible for writing a business plan on any business of their choice. The project will consist of awritten plan and an elevator pitch of your business idea. You will be provided guidelines and criteria for this plan starting in chapter 6. . Business plans from other classes are not allowed. You may also do a plan as a team of 2-3 maximum if you have similar interest in starting the same kind of business. Your business plan must include all 10 sections as outlined in the text and should be at least 10 pages long. Each section will be worth 10 points. This will be turned in at the end of the semester as indicated on the class schedule, do not wait to write this at the end of the semester, read chapter 6 at the beginning of the semester and get started.

You will be given the opportunity at the end of the semester to share a 2-3 minute elevator speech, highlighting the key points of your business plan with the rest of the class. Please see the guidelines for an elevator pitch on my webpage.

100 Points = Excellent75 Points = Good 50Points = Fair (indicate the points you feel you deserve on your title page)

4) Team Written & OralResearch Project Class Presentation------75 Points

Refer to entrepreneur research project sheet on my home page under B283. The class schedule will indicate when research projects are due. No two teams can have the same approach. Be very creative in your presentation. A standard PowerPoint presentation will not do, remember entrepreneurs are very innovative. The key is to get us motivated and excited about entrepreneurship, do not limit yourself to the recommended approaches, think outside the box. Most teams will score 50 points or less, unless you do an exceptional job through your creativity, and innovative way of presenting your project. Remember, I am looking for something that involves the class and shows a great deal of effort. Be sure to print out the paper on my web page that lists the different approaches you may want to consider. The written portion will include your research finding and sources. It should be typed, double spaced and two pages or more in length.

75 Points = Excellent 50 Points = Good 25 Points = Fair (Indicate on your written self-evaluation the points you feel your deserve and why)

5) EntrepreneurSelf-Assessment Paper------25 Points

For this three-page, double-spaced paper, please assess your fit for an entrepreneurial career. It is perfectly okay to conclude that you may not be suited for an entrepreneurial career (at least in the foreseeable future). Although it is often hard to think about one's future, it has been found that those who visualize and plan for the future (and write it down), are more successful than those who don't. This will be turned in at the end of the semester as indicated on your class schedule. Your typed paper should include some of the following:

  1. Self-assessment (rigorous analysis using self-assessment instruments, comparisons/connections to your entrepreneur interview, etc.)
  2. Long-term goals for the future (both professional and personal).
  3. Skills you currently possess or need to acquire to achieve goals.
  4. Brief action plan of crucial milestones.
  5. Results from the online text self-assessments (Text webpage underself Assessment Take the test entitled: Can you succeed in a small business.

6) Team Oral Entrepreneur Interviews Class Presentation------75 Points

75 Points = Excellent50 Points = Good25 Points = Fair (Indicate on your written self-evaluation the points you feel your deserve and why)

Your team will need to select an entrepreneur to interview for this assignment. (Your interview must take place in person with the owner. You must be present at the interview to receive any points. No team will be allowed to have the same business). Yourteam’s oral presentation will take place on the date indicated in the class schedule. Make sure it has a WOW FACTOR! Guidelines for these interviews are on my webpage, be sure and print them out. Please be sure to summarize your key findings in your presentations and look for ways to engage the class in your presentation. Do not just lecture or share a video or power point presentation, which will result in a poor grade for this assignment. Don’t expect anything higher than a 50 unless your presentation is extremely excellent. During the semester we will also have entrepreneurs visit our class. Please show respect by paying attention, taking notes, and considering one good question to ask at the end of their presentation.

7) Entrepreneur Case written analysis and oral participation------100 Points

Please read each of the 5 cases carefully and prepare a typed two page case analysis. You will be given guidelines for the written and oral analysis. You will be given the opportunity to participate with your team and with the entire class for discussion purposes. You will evaluate yourself on participation. Did you contribute to the discussion, if so, in what way? Put some thought and consideration into your written case analysis and please add to the discussion. Participation and attendance in class is a must for each case. Each case is worth 20 points. Each time you participate it is worth 20 points. You need to document your participation and turn it in with your grade tracking sheet.

8) E-Myth Revisited Book Report Paper ------25 Points

Read the entire E-Myth and prepare a three to four page typed, double spaced paper outlining what important ideas and insights you got out of it.

Several students will be asked to share their book report with the class, so come prepared to share your thoughts and feelings about the book & take a quiz.

9)Taking Action with entrepreneurial activities. What are you waiting for, do something!!!!______25 Points

Entrepreneurship is all about taking action, not just dreaming, but doing something. Please choose one of the following activities to further advance your knowledge and application of entrepreneurship: Participate in a competition, attend two seminars, network with an entrepreneur, do something that will move you closer to your goal of becoming an entrepreneur. Please submit a one page paper outlining what you did and how it has helped you become a better entrepreneur.

10)THE ENTREPRENEUR CHALLENGE OPTION: This may be used in place of the teamresearch project. There is no better learning then to actually start and run a business. If you choose this option, your team will also earn an extra 25 bonus points. (You must make a $100.00 or more in profits in order to earn any points)

Your team has the opportunity to actually start a micro business during the semester. The requirements are as follows:

Raise the capital to support your business. Teams are limited to $100.00 in start up capital.

Operate the business for a 4 week period in which you will identify an opportunity, create a product or service, raise capital, sell your product or service, and liquidate the company.

Bring the profits to class and make a five-minute presentation to the class on your business experience and what you would do with the business if you had more time.

Write a one or two page report summarizing what you learned. You may want to discuss what you would do differently the next time, what was harder than you expected, where you had problems, what worked, what didn’t work etc.

Grading Scale:

93% - 100% = A / 80% - 82.9% = B- / 67% - 69.9% = D+
90% - 92.9% = A- / 77% - 79.9% = C+ / 63% - 66.9% = D
87% - 89.9% = B+ / 73% - 76.9% = C / 60% - 62.9% = D-
83% - 86.9% = B / 70% - 72.9% = C- / below 60.0% = F

Class Policies and Important Points

1. No assignment will be accepted late. You need to learn to be responsible and complete your assignments on time. If an assignment is late due to a medical emergency or family tragedy, leave a message on my telephone and I will work with you. Trips home, etc. are not excuses for late work unless emergencies exist, so plan accordingly. You may turn work in early if you are planning to miss a class. Any late work will result in a 50% reduction in the grade.

2. The Code of Honor and Dress & Grooming standards apply and will be enforced. Please do not wear baseball caps in class.

3. If you have a diagnosed disability, or believe you have a disability that may require reasonable accommodation on the part of RicksCollege, please call 1-800-we-care to make an appointment with Red Taylor, Director at the center for students with disabilities. "In compliance with the applicable disability law, qualified students with a disability may be entitled to 'reasonable accommodation.' It is the student's responsibility to disclose to the SSD office any special needs he/she may have and to provide the appropriate documentation of the disability. The SSD office is located inside the LearningAssistanceCenter, McKay Library 1st floor."

4. The emphasis in this course will be on material discussed in class; therefore, attendance is very important. Because the course will be conducted primarily on a discussion basis, it is very important that the student read the text and other materials so that he or she is prepared to participate in class discussions.

5. Learning outside the classroom: What happens out of the class can be as important, or more important than what happens in the class. For every hour of class, you should spend 3 to 6 hours a week in out-of-class learning activities. Learn to Love Learning!

6. Attendance Policy: One of the most important parts of your grade and certainly what you get out of the class will be your attendance. We both have the responsibility to be active participants in the classroom. If your not here, we all miss out!! Attendance will affect your grade as follows:

1-2 absences = no grade drop / 6-7 absences=2 grade drop
3-4 absences = l grade drop / 8 or more = F grade

8. Learning Styles: We all have different learning styles. It is challenging to hit every ones Hot Button every time we meet. As a teacher, you can interest all of your students some of the time; you can interest some of your students all of the time; but you can't interest all of your students all of the time.

John A. Widstoe on Education:

... to be merely mentally trained is to be only partly trained. The man whose mind only has been trained may be likened to the ship with great engines and a huge propeller, ready to drive the ship forward, but without rudder, chart, compass, or definite destination. When we add to the man, so trained, spiritual training, then it is as if we add to the ship, with its wonderful machinery, a compass, a chart, a rudder, and a dependable intelligence which controls the whole machinery, above and below deck, so that the vessel may reach a safe haven, according to a definite purpose.

Joseph Smith, Jr.:

If we start right, it is easy to go right all of the time; but it we start wrong, we may go wrong, and it can be a hard matter to get it right.

STANDARD CODE OF CONDUCT

DEMAND THE HIGHEST ETHICAL STANDARDS FROM YOURSELF. The collaborative and team oriented nature in this class means that there are many group projects both in and out of class. It is inevitable that you will have opportunities to hand in work that is not your own. Remember when these opportunities present themselves that you are being trusted and challenged to uphold the highest standards of ethical behavior. We want you to learn from your experiences in this class, and at BYU-I in general, that you need to be able to trust each other and yourself to make the ethical decision. Accordingly, cheating, plagiarism, and other cases of intellectual dishonesty will not be tolerated, and will be referred to the judicial board for review.

TAKE PRIDE IN YOUR WORK. Business leaders know that everything they present to the public reflects on them and their organization. Long-term success comes only to companies and individuals who produce the highest quality products and services, and deliver them in a timely fashion. Every paper, presentation, and project is an expression of the pride you take in yourself and your work. Make every effort to write well, meet deadlines, and take the time to make both the format and the content of your work of the highest quality. This may mean writing one more draft, double checking spelling and grammar, or reviewing overheads and practicing your presentation one more time.

DEMONSTRATE RESPECT FOR YOURSELF AND FOR OTHERS. Managers make decisions and try to influence others to implement them. Thus, if you are going to be a manager, you have to learn how to make others accept and respect you. You must show yourself to be worthy of their respect and show that you respect them. Your professional demeanor sends messages about your leadership ability and level of dedication. You can earn a lot of credit here for doing some very basic things.

  • Be On Time. Professional behavior means being on time for classes, appointments, and meetings. Furthermore, it means staying there once you have arrived. Just as you wouldn’t leave the middle of a business meeting in order to get a soda, you shouldn’t disrupt a class by leaving in the middle for a drink, chat or to pick up your e-mail.
  • Be Prepared. Unprepared managers have very short careers (or end up in dead-end jobs). To succeed, you need to prepare for each class session. Nothing shows less respect for others than making them wait while you do something you were supposed to have done in advance. If you don’t prepare and try, instead, to “fake it,” you run the risk of looking foolish and wasting everyone’s time with irrelevant comments.
  • Show Some Respect. Professionalism also means being civil to those with whom you disagree (and perhaps dislike). In business, often find that you must work with people with conflicting opinions or personal styles. Your ability to work with, tolerate, and effectively interact with these individuals is critical to your success. Finally, you demonstrate a lack of respect for your colleagues or professors when you engage in private discussions while course or meeting business is in progress. You also show respect by not reading other books, the Scroll, text messaging, or surfing the net.

Get Involved. Professionalism means keeping up with the discussion. It means making a contribution. Not everything you say has to be deadly serious, however. As long as it fits, it’s okay, even desirable, to inject a little humor once in a while. Just make sure what you say isn’t mean and doesn’t step on anybody’s toes.