BUS440 Entrepreneurship
Spring 2012
BUS440: Entrepreneurship
Spring 2012
Mondays and Fridays: 1:00pm – 1:50pm Howarth 201
Wednesdays: 1:00pm – 2:50pm Thompson 191
Prof. Lynnette Claire
McIntyre 108C
www2.ups.edu/sbl/claire.shtml
253-879-3576
Office Hours:
Tuesdays 1:00pm – 1:50pm, Thursdays 10:00am – 11:00am and by appointment
Reading Resources:
The Art of the Start by Guy Kawasaki. Portfolio, 2004.
Case Packet
Objectives:
This course is structured around three big questions central to a first course in entrepreneurship:
How do you recognize opportunities?
How do you start an organization?
Why is entrepreneurship important?
While exploring these three questions, you will gain critical thinking skills, learn creative problem solving, refine your research and analytical skills, and learn to present information in new ways.
Course Overview:
The course begins with the Business Blitz—a challenge to you to start and run a business (and make money) on minimal funding and little time. You will then develop a more complex business idea on paper, resulting in a formal business plan. Finally, you will job shadow a local entrepreneur and create a 10-minute documentary on him or her. Along the way, we will explore topics regarding why entrepreneurship is important, what the barriers and enablers are, how these operate for different groups of people and under different circumstances. During the Opportunity Lab we will experiment and develop our skills in recognizing entrepreneurial opportunities. You will explore a topic in depth for your final exam.
Business Blitz
During the first two and a half weeks of class, you will start, run and make money from a business based on $50-$100 start-up capital per venture. The School of Business and Leadership will provide $50 start-up capital per venture to be repaid in full at the end of the Business Blitz. You may match this start-up capital with up to $50 of your own funds. You may have up to four people on your venture team. The businesses must be legal, ethical and conform with Puget Sound guidelines.
After the start-up capital is repaid to the School of Business and Leadership, a 20% “tax” will be assessed on the net profit of each business. The class will choose a charity to donate the “tax” money to. You may retain the remaining 80% of the profits within the team.
Each venture must keep accurate records of their finances and report on earnings each week. At the end of the process, each group will submit its accounting books as well as a short report on the venture. Marketing materials, photos, and other types of material may be included. A personal reflection will also be submitted. While recognizing that financial reward does not provide a complete picture of a venture’s success, it is an important indicator. Additional points will be awarded according to how profitable your venture was—and points will be deducted for ventures that lose money. To encourage you to stretch, additional points will be awarded for risk-taking and creativity.
Business Planning
In groups of two or three students, you will select a venture idea to plan in depth. You will explore the venture’s industry, market, marketing, budgeting, production, scheduling, profitability, management structure and philosophy, financing, and ownership form. You will apply knowledge gained in this and previous business classes to the new venture. In class exercises, lecture and take-home worksheets will help you think through your new venture. The thinking and preparation work will come together in a business plan.
In order to turn in your business plan, everyone in the project group must give an elevator pitch that is accepted by the professor. You may repeat the elevator pitch as many times as necessary. A final reflection on the business plan and a peer evaluation will be submitted at the end of the process.
Entrepreneur Documentary
Job shadowing is an excellent way to learn about entrepreneurship. To encourage an in-depth job shadow—and to learn about each other’s job shadow experiences—you will each create a 10-minute documentary on a local entrepreneur. You are required to spend at least eight hours shadowing your entrepreneur. As a class, we will choose two questions that the films may address. You may choose which question your film addresses. We will have a film festival on Tuesday and Wednesday evenings, April 17th and 18th (attendance is mandatory at the film festival). This will be open to the public: the entrepreneurs, their staff and friends, your friends, other professors, etc. Clearly, these documentaries should be high-quality. If the documentary you turn in is not of adequate quality, it will be sent back to you for revision before the film festival. Films are expected to be interesting, tell a story, demonstrate that the individual is an entrepreneur, and answer one of the two questions the class has chosen. Innovation and artistry is also desirable. As part of your grade, you will submit journal entries (responding to specific prompts) during the documentary project (5 total).
Opportunity Lab
There will be a two-hour lab session every Wednesday. During this time, we will experiment with ways to improve our abilities to recognize opportunities. Written responses will be required during or after many labs (if after, due on Fridays by 1:00pm). Additionally, an idea journal must be kept—either through Moodle or paper, with opportunities for comment by Prof. Claire. At the end of the term, you will select the three best opportunities that you recognized during the term for evaluation; these will be accompanied by an explanation of why you believe these opportunities are significant.
Final Exam
To encourage you to explore a topic in more depth and to think critically, you will be required to read an entrepreneurial book and write about it. First, write a one page summary of the book. Then write a critical analysis of the book, incorporating the knowledge and experience you gained in this course. Three to four single-spaced pages is a guideline for this paper. You may select your book from a list of recommended reading or you may choose another entrepreneurship book that you have never read. If you choose another book, you must submit a short proposal explaining why you want to read and think about this book, noting how it expands your thinking about entrepreneurship, by April 18th. We will discuss the books we’ve read during our final exam time.
Cases
In addition to the book Art of the Start, we will read six cases and view three video cases. For each case, there will be preparatory work that will help you focus on important concepts and participate fully in class discussion.
Preparation, Participation and Engagement
Your preparation, participation and engagement in this class are critical. Please help create a fun and dynamic learning environment by arriving on time, prepared and awake. Participate by asking questions, making interesting comments, listening actively, and asking for clarification. In class or take home exercises are included in the points for this section as well.
Computer and Cell Phone Policy
You are encouraged to take notes in whatever form is most useful to you. However, due to the distraction potential of computers to both you and to your classmates, if you use a computer in class, you will be expected to demonstrate that you are using it for legitimate class purposes on a regular basis. If you are using it to surf the web, check your e-mail, etc., you will be asked to leave the classroom and to not use your computer in class in the future. Please turn your phone off before entering the classroom. If there is a legitimate need for you to be available via phone, please talk to me before class starts. Texting in class is unacceptable. If you cannot resist the temptation of your cell phone, you will need to check in your phone with me at the beginning of class.
Grading:
There are 1,135 points possible in this course. The distribution of points is as follows:
Business Blitz125 points
Business Plan250 points
Entrepreneur Documentary200 points
Opportunity Lab200 points
Final Exam125 points
Case Work (15 points each)135 points
Preparation, Participation and Engagement100 points
1,135 points
Grades will be assigned based on points earned. The standard 90% (A), 80% (B), 70% (C), 60% (D) and less (F) divisions will be used. Plus and minus grades will be earned by those in the top and bottom two percentiles. Prof. Claire’s mindset: A exceeds expectations, B meets expectations, C approaches expectations, D/F do not meet expectations. Grades will be posted on Blackboard. Integrity and honesty are expected in this class. Please refer to the section on academic honesty in the Logger Academic Handbook ( for details.
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BUS440 Entrepreneurship
Spring 2012
Week: Day / Date / Preparation* / Class / Location / Major Project / Due Dates**1: Wed / 1/18 / Snow! / B
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1: Fri / 1/20 / No Class
2: Mon / 1/23 / Class Overview. The Business Blitz. / Ho201
2: Wed / 1/25 / What is a Lab? Entrepreneurial Ideas, Entrepreneurial Opportunities. Entrepreneurial Competence. Kiznerian vs. Schumpeterian Opportunities. Alertness and Systematic Search. / Th191
2: Fri / 1/27 / Art ch. 1 & 5
FreshTec case / Defining Entrepreneurship. Business Model. The Start. Case. / Ho201 / FreshTec case prep
Business Blitz reporting in class
3: Mon / 1/30 / Local Entrepreneurship. Attend Tacoma Shift Happens. / Convention Cntr
3: Wed / 2/1 / Partner Opportunity Recognition / Th191
3: Fri / 2/3 / Art ch. 2 & 8
Naxos case / Industry. Markets. Case. / Ho201 / Naxos case prep
Business Blitz reporting in class
4: Sun / 2/5 / Optional class viewing of Startup.com at 9pm (w/snacks) / McIntyre 109
4: Mon / 2/6 / Art ch. 6 & 7
Startup.com video case / Teams. Pitch. Case. / Ho201 / Startup.com case prep
4: Wed / 2/8 / Creativity: Thinking Without Boundaries. / Th191 / End Business Blitz at midnight
4: Fri / 2/10 / Art ch. 3 & 4 / Lessons from the Business Blitz. Choose teams for business planning. / Ho201 / Business Blitz report, peer evaluation, reflection. taxes
Week: Day / Date / Preparation* / Class / Location / Major
Project / Assignments**
5: Mon / 2/13 / Panel Pro case / Industry. Markets. Case. / Ho 201 / B
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SHAD-OW / Panel Pro case prep
5: Wed / 2/15 / The Cognitive Approach. Pattern Recognition. / Th191
5: Fri / 2/17 / Research.
6: Mon / 2/20 / Art ch. 9 & 10 / Marketing. Sales. / Ho201
6: Wed / 2/22 / Pattern Recognition. / Th191 / Business Plan draft 1
6: Fri / 2/24 / Hub Spot case / Case. / Ho201 / Hub Spot case prep
7: Mon / 2/27 / Pricing. Budgeting. / Ho201
7: Wed / 2/29 / Positive Affect. / Th191
7: Fri / 3/2 / PackIts case / Pricing. Budgeting. Case. / Ho201 / PackIts case prep
8: Mon / 3/5 / Legal Issues. Organization. / Ho201
8: Wed / 3/7 / Bisociative Thought. / Th191 / Business Plan draft 2
8: Fri / 3/9 / Financing the Venture. / Ho201
Spring Break / 3/10- 18 / Spring Break—Enjoy!
9: Mon / 3/19 / Business Plan Problem Solving. / Ho201
9: Wed / 3/21 / Social Networks.
9: Thurs / 3/22 / Optional class viewing of The Social Network at 9pm (w/snacks) / McIntyre 109
9: Fri / 3/23 / Social Network video case / Growth. Case. / Ho201 / Social Network case prep
10: Mon / 3/26 / Art ch. 3 / Pitching. Documentary 101. / Ho201 / Business Plan draft 3
10: Wed / 3/28 / Exemplars and Prototypes. / Th191 / Job Shadow reflection 1
10: Fri / 3/30 / 30-Second Videos. Documentary. / Ho201 / Job Shadow reflection 2
11: Mon / 4/2 / Pitches. / Ho201 / Business Plan
Week: Day / Date / Preparation* / Class / Location / Major
Project / Assignments**
11: Wd / 4/4 / Creativity. / Th191 / J
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11: Fri / 4/6 / Entrepreneurship Worldwide. / Ho201 / Business Plan peer evaluation and reflection
12: Mon / 4/9 / Lap Desk case / Entrepreneurship Worldwide. Case. / Ho201 / Lap Desk case prep
Draft film (4/9-11)
12: Wd / 4/11 / Creativity in a Novel Environment. / Field Trip / Job Shadow reflection 4
12: Thurs / 4/12 / Optional viewing of Ten9Eight video case at 9pm (w/snacks). / McIntyre 109
12: Fri / 4/13 / Ten9Eight video case / Youth Entrepreneurship. Case. / Ho201 / Ten9Eight case prep
13: Mon / 4/16 / No class due to film festival / Ent Documentary and signed job shadow time log due
13: Tues / 4/17 / Entrepreneur Film Festival. / McIntyre 003 / Attendance mandatory at film festival 7-9pm
13: Wed / 4/18 / No class 1-3pm.
Entrepreneur Film Festival. / McIntyre 003 / Attendance mandatory at film festival 7-9pm
Final exam book proposals
13: Fri / 4/20 / Discuss films. Instructor Evaluation. / Ho201
14: Mn / 4/23 / Art ch. 11 / Social Entrepreneurship. / Ho201
14: Wd / 4/25 / Promotion vs. Prevention. / Th191
14: Fri / 4/27 / Minority Entrepreneurship. / Ho201 / Job Shadow Documentary reflection 5
15: Mn / 4/30 / Immigrant Entrepreneurship. / Ho201
15: Wed / 5/2 / Opportunity Recognition: Pulling it Together. / Th191 / OPP. ID / Best Opportunities Paper
F: Fri / 5/11 / Discuss Entrepreneurship Books / Ho201 / Final Paper
“Art” refers to Art of the Start, cases are in the Case Packet available in the bookstore
** All assignments are due by 1:00pm unless otherwise noted
symbols refer to the big questions this course is concerned with: opportunity recognition starting a venture the importance of entrepreneurship
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