Writing Course Review Form (9/10)
I. General Education Review – Writing Course
Dept/Program
Course # (i.e. ENEX MGMT 486
Management
Subject
200)
Course Title
Strategic Venture Management
II. Endorsement/Approvals
Complete the form and obtain signatures before submitting to Faculty Senate Office.
Please type / print name Signature
Date
Instructor
Klaus Uhlenbruck
Phone / Email
6523
Program Chair
Klaus Uhlenbruck
Dean
Larry Gianchetta
III. Type of request
New
X
One-time Only
Reason for new course, change or deletion
Change
Remove
Please see Course Form for MGMT 486,
which is also being submitted to Office
IV Overview of the Course Purpose/ Description: Provides an introduction to the subject
matter and explains course content and learning goals.
Please see Course Form for MGMT 486, which is also being submitted to Office
Also, please note that this is a new course and we are happy to adjust the syllabus to be more
considerate of Writing Course requirements.
V Learning Outcomes: Explain how each of the following learning outcomes will be achieved.
Student learning outcomes :
Use writing to learn and synthesize new
concepts
Formulate and express opinions and ideas in
writing
Compose written documents that are
appropriate for a given audience or purpose
This capstone course for all business students
requires that students utilize knowledge and
skills learned and developed across our entire
curriculum to solve the real world challenges
and issues faced by clients. The focus is thus
less on new concepts, but reminds students of
concepts learned previously and requires their
application and integration. Still, students are
exposed to new readings and new ways of
thinking about problems addressed earlier.
With respect to writing, students are requested
to submit a brief weekly reflective journal that
requires them to reflect upon new learning and
new experiences in the course (see syllabus). In
particular, they will write on what new
knowledge, insights and conclusions
regarding their project have been gained from
class meetings or other sources (speakers,
books, journal or newspaper articles,
websites, individuals/experts interviewed,
group discussions, etc.). Please refer to the
grading rubric provided in Appendix C in the
attached syllabus.
The above reflective papers will naturally
require from students to express opinions. As
students become weekly feedback, the
associated writing skills will be developed.
Students will write a business plan which
reflects their interpretation and conclusions
regarding a business idea and its potential
realization in the market. A business plan
combines facts with interpretation of this
knowledge based on business concepts.
Business plans, the main written outcome of
the course, are written for investors and
creditors (Venture Capital, banks, etc.) with the
purpose of attracting funding. Thus they have
to meet their standards and expectations. The
syllabus below reflects these standards in
detail.
Students are required to submit multiple drafts
of their final project throughout the semester as
described in the syllabus. Each draft is
evaluated for both writing and content and
students are required to make revisions before
the final report is submitted. Further, students
are required to journal the entire semester and
these reflective papers will have to be
submitted and feedback incorporated in the
next submission.
Find, evaluate, and use information effectively Students are required to find, evaluate, analyze,
(see http://www.lib.umt.edu/informationliteracy/) and synthesize information from a variety of
sources in order to complete their projects and
present a professional quality report to their
client. Sources may include: interviews with
potential customers, key stakeholders,
competitors, other experts etc.; library research;
trade journal research; internet research; etc.
Because these are real world problems,
rigorous research is feasible and required.
Students are required to utilize conventions as
Begin to use discipline-specific writing
appropriate in a business context. Business
conventions
plans are written for investors and creditors
(Venture Capital, banks, etc.) and thus have to
meet their standards and expectations.
Please see RUBRIC in Appendix C of syllabus
Demonstrate appropriate English language
usage
VI. Writing Course Requirements Check list
 Yes X No
Is enrollment capped at 25 students?
If not, list maximum course enrollment.
Given that all business majors have to take
Explain how outcomes will be adequately met
for this number of students. Justify the request this course, capping it at 25 is financially not
feasible. To find economies, we will use
for variance.
Graduate Assistants from our MBA and
MAC programs that assist instructors in
grading the weekly reflective journals. As
well, these GAs can provide feedback to
students on the draft of their business plan.
We have used this model quite successfully
in previous courses, allowing us to cap the
course at 35 students.
X Yes  No
Are outcomes listed in the course syllabus? If
not, how will students be informed of course
expectations?
Are expectations for Information Literacy listed in
X Yes  No
the course syllabus? If not, how will students be
The Course Objectives list that this course is
informed of course expectations?
the students’ upper division writing course in
Revise written work based on constructive
comments from the instructor
the major and the Learning Outcomes list
critical outcomes.
Students take this course in their last semester
as undergraduate students. By then they
should have achieved information literacy.
However, in week 4 we will discuss digital
literacy specific to business plan creation.
The course requires information literacy as
large parts of a business plan require factual
data that students have to identify, evaluate
and integrate. Thus, the course introduces
many additional sources of data, which are
critical for business plan writing. Many of
these are listed in reading materials.
Are detailed requirements for all written
assignments included in the course syllabus? If not
how and when will students be informed of written
assignments? Please attach one example of
instructions for written assignment.
What instructional methods will be used to teach
students to write for specific audiences, purposes,
and genres?
X Yes  No
Business Plan writing is very specific in these
respects. Thus related topics are constantly
addressed in lectures, in the textbook and
reading. Also, students will discuss sample
business plans as case studies.
Which written assignments will include revision in The Business Plan is submitted at least once
response to instructor’s feedback?
as a draft and can be revised after feedback.
More importantly, the weekly journal gets
graded with feedback every week. Students
submit a new journal, but with the same
criteria, the following week.
VII. Writing Assignments: Please describe course assignments. Students should be required to
individually compose at least 16 pages of writing for assessment. At least 50% of the course grade
should be based on students’ performance on writing assignments. Clear expression, quality, and
accuracy of content are considered an integral part of the grade on any writing assignment.
Final Business Plan = 30%
Formal Graded Assignments
Weekly journals = 25%
Total = 55%
Each student in the course writes more than 20
pages over the course of the semester that is
assessed and evaluated by the instructor and/or
GA.
Students must maintain contact with peers,
potential customers, experts, the instructor and
the GA via memos and emails. These must be
professionally written.
VIII. Syllabus: Paste syllabus below or attach and send digital copy with form.  The syllabus
Informal Ungraded Assignments
should clearly describe how the above criteria are satisfied. For assistance on syllabus preparation
see: http://teaching.berkeley.edu/bgd/syllabus.html
Paste syllabus here.
Strategic Venture Management
Syllabus for MGMT 486
Instructor:
Office Hours:
Contact Information:
Room 3XX, Gallagher Business Building
AM/PM
e-mail –
About this Course:
Welcome! This course is the capstone course on the topic of new venture management.
We will discuss forms of entrepreneurship, examine tools—particularly those relating to
strategy— to help start and build businesses, and engage in discussions about real-world new
ventures. Also, you will learn to develop a business plan in a team-based environment.
The purpose of the course is to give you an introductory overview of the entrepreneurial
process, and an opportunity to develop a venture opportunity into a full-fledged business plan.
We will kick off the semester with what is meant by ENTREPRENEURSHIP in its various
forms. Subsequently, we will also discuss existing strategic and operational frameworks and
tools that can help you make sense of the vast amount of information needed to identify,
appraise, and develop an entrepreneurial opportunity. Lastly, you will be asked to refine your
entrepreneurial thinking by developing an in-depth business plan, to be “pitched” at the end of
the semester. Working in teams, you will put together the business plan based on a feasible (!?)
idea from one of your team-mates or an outside “client” who has asked us to develop a business
plan for his venture. This exercise will prompt you to apply the frameworks and models to
develop a top-down and bottom-up approach to opportunity recognition, competitive analysis,
target customer identification, product development and pricing, marketing and sales strategies,
and relevant financial projections. This project will tie together the diverse parts of the course as
well as much of the knowledge you gained in your previous business classes. In addition, it will
provide you with a ‘product’ to take with you when you enter your job search.
Expectations for this Course:
BE ON TIME - COME PREPARED! This class is based on an on-going, interactive
discussion. At a minimum, you need to thoroughly read ALL assigned readings. Try to think
through the main points and issues and how they play out in real-world scenarios.
I expect you TO PARTICIPATE (15% of your grade) since the class is much better
served through an interchange. Your contributions should be thoughtful and inclusive of the
frameworks and themes we have covered. As the course progresses, I expect your presentations
to reflect the various articles, case studies, frameworks and class discussions.
It is critical that you get familiar with the course syllabus – it will help set your
expectations of the workload for the class. Keep in mind that this syllabus is a rough guide, and
that changes may occur during the semester.
Objectives of the Course:
1.
Apply and integrate knowledge acquired during your career as a student to
real business problems, involving analysis, solution development, and
implementation.
2.
Sharpen your communication skills.
3.
Engage in entrepreneurial and strategic thinking.
4.
Learn how entrepreneurs create opportunities and capture the rewards of
their activities (or how they might miss them).
5.
Recognize the interaction between different business areas, e.g.
innovation/R&D, production/operations, financing, accounting,
management, and marketing.
6.
Develop basic managerial skills such as leadership, decision making, and
prioritizing.
7.
Perform as part of a group of peers challenged by a demanding project with
severe time constraints.
8.
Improve skills in achieving group effectiveness.
9.
Fulfill UM’s Upper-Division Writing Requirement in the Major.
Learning Outcomes:
1.
Students can integrate knowledge in management, marketing, accounting
and finance.
2.
Students show competence in information technology and digital literacy;
they can find, evaluate, analyze, and synthesize information effectively
from diverse sources.
3.
Students understand what determines the likelihood of a successful
business venture in a competitive market environment.
4.
Students can develop and evaluate a business plan and operating strategy
for a venture, create a mission statement and objectives of the venture, and
compare the criteria used by various funding sources (banks, angel
investors, venture capital, etc.)
5.
Students can identify the roles of leadership and teamwork in venture
management activity, apply teamwork skills to solve a business problem,
and assess how personal attributes influence the success and failure of a
venture.
6.
Students have written and oral communication skills as expected of
business professionals, incl. conventions of citation, documentation and
formal presentation, adopting the proper voice, and considering multiple
perspectives.
Class Materials
1. The Portable MBA in Entrepreneurship, 4th Edition by W. Bygrave & A. Zacharakis
2. Course Packets – a collection of case studies and articles is available at the UM Bookstore.
Grading & Assignments:
Reading Comprehension Quizzes
Business Plan Presentations
Class Participation (incl. peer review)
Final Business Plan
Individual Weekly Reflective Journal
15%
15%
15%
30%
25%
Each of the preceding components will be discussed in greater detail as the semester progresses.
Additional Comments on Grading & Assignments:
- PLEASE DO NOT USE YOUR NOTEBOOK COMPUTER DURING OUR
SESSION. If you need to take notes, rely on paper and pen. The use of notebooks is
distracting to your fellow students and me.
- For every day an assignment is late, the grade of the paper drops a FULL LETTER
GRADE, e.g. an “A” paper turned in a day late will become a “B” paper, etc.
- NO E-MAILED PAPERS. I expect hard copies to be handed in on the day the paper
is due. If you cannot attend class, have someone else hand it in for you.
- TRY NOT TO MISS THE READING QUIZZES – Make-up quizzes are in essay
form.
- NO EXTRA CREDIT. Do the work that is assigned.
- WEEKLY ATTENDANCE WILL BE TAKEN. If you miss MORE THAN 4
CLASSES, it will reflect on your grade.
- YOU WILL HAVE AN OPPORTUNITY TO EVALUATE YOUR TEAM
MEMBERS.
- RESPECT THE HONOR CODE. Cheating of any form will not be tolerated in this
class. All work handed in is to be yours. If you don’t know what “cheating” means,
please refer to the University Conduct Code at:
www.umt.edu/SA/documents/fromWeb/StudentConductCode1.pdf
The Business Plan:
The business plan affords you a unique opportunity to take an idea for a business and evaluate it
from multiple perspectives (competitive, marketing, financial, etc.). While I don’t expect that
many of you will start the business at this point in your academic career, my view is that the
more you understand the PROCESS of entrepreneurship, the more likely you can hit the ground
running (without tripping) should you decide to start a venture. PLEASE RECOGNIZE THAT
THE BUSINESS PLAN IS YOUR PROJECT – THIS MEANS THAT YOU ARE DOING THE
WORK! I will help guide you, but the calories burnt on this are yours – just like in the real
world.
The report is graded based on its comprehensiveness, substance, attention to detail, consistency,
writing style (e.g., one voice, not individual sections; clear; convincing) and professional
appearance. An outline for this plan is can be found in Appendix A.
Part of this class is designed to help interested students/teams prepare and submit a business plan
for the SoBA Business Plan competition held every spring. This event is a unique opportunity to
present your business plan to angel investors, business owners, and other members of Montana’s
entrepreneurial elite who can help you realize your business. Also, you can compete for prize
moneys, which were $50,000 this past year. If you’re interested in the SoBA Business Plan
competition, please see the eligibility requirements at
http://www.business.umt.edu/made/programs/biz.asp.
Individual Weekly Reflective Journal:
Each student will turn in a one-page, single-spaced summary reflecting on (1) what new
knowledge, insights and conclusions regarding your project have been gained from class
meetings or other sources (speakers, books, journal or newspaper articles, websites,
individuals/experts interviewed, etc.) and (2) how your group is functioning. Both topics have to
be addressed each week. These journals will be graded based on the rubric provided in Appendix
C. Use these journals to reflect on your learning during the past week. Journals are due Tuesdays
in class.
Team Work:
As most start-ups, the business plan development will be team-based. Groups will be formed by
the 4th Week. Teams should be no larger than 5 members, no smaller than 3 members. Once
your ideas have been submitted, I will rank-order your preferences to build teams. I would
highly recommend that you take into consideration individual strengths and weaknesses:
qualitative vs. quantitative; marketing – financial/accounting – technology backgrounds,
availabilities throughout the semester, etc. It is critically important that you and your team
members learn to manage the various requirements and deadlines of the business plan.
I understand the potential difficulties in team-based projects: some people do more work
than others, some teams have better dynamics than others, etc. I recognize that at times it can be
challenging and even frustrating, but in my opinion team projects capture the real-world
complexity of getting business done. If you find that some team members simply do not
contribute, PLEASE APPROACH ME AS A GROUP. I will deal with your collective
complaints accordingly. You will have an opportunity to fill out peer evaluation forms at the end
of the semester.
COURSE OUTLINE
INTRODUCTION - Week 1 & 2
Week 1:
August 31:
Introductory Session
Read: Blackboard ARTICLE – “Can we teach entrepreneurship?”
September 2:
What is Entrepreneurship: Make versus Buy?
Starting from Scratch vs. Strategic Acquisitions
Read: Chapter 1: The Entrepreneurial Process
Read: ARTICLE – “The Discipline of Innovation”
Week 2:
September 7:
Ideas, Sources and Types of Entrepreneurism
Industry Structure (Porter’s Five Forces), Generic & Blue Ocean
Strategies
Read: Chapter 2: Idea Generation (to p. 40 only)
Read: ARTICLE – “Blue Ocean Strategy: From Theory to Practice”
September 9:
The Business Model
Read: ARTICLE - “Why Business Models Matter”
Read: Chapter 3: Opportunity Recognition, Shaping, and Reshaping
Due: Present Ideas
THE IDEA (vs. THE OPPORTUNITY) – (Week 3 & 4)
Week 3:
September 14:
Strategic Leadership & Management Teams
Due: Ideas Rankings Sheet
September 16:
Documentary: Startup.com
The Internet Changes the Game
Week 4:
September 21:
Reading Comprehension Quiz #1
Team Selection
Intro to Business Planning
September 23:
The Business Plan
Digital Literacy for Business Plan Writing
Read: Chapter 5: Business Planning
THE BUSINESS PLAN (Week 5 & 6)
Week 5:
September 28:
The Business Plan Audience:
Vision & Mission Statements
The Investment Community
Read: Chapter 7 & 8
September 30:
Connecting Strategy and the Business Model:
Generic Strategies, Value Chain/System, Core Competence
Read: ARTICLE – “Building a Business Model and Strategy:
How They Work Together”
Read: CASE - Zipcar: Refining the Business Model
Week 6:
October 5:
In-Class Presentations:
Opportunity Presentation (Part 4, Section One: a – d)
DUE: In-Class Powerpoint Presentation (8-10 slides)
Hand in Powerpoint Slides of Presentation
Hand in approx. 6 pp. single-spaced of Business Plan, Part 4, Section One:
a – d.
October 7:
The Customer and the Product:
Segmenting the Market, Identifying the Customer, Defining the Product
Read: CASE - New Century Brewing: Moonshot - Caffeinated Beer
Week 7: (Midpoint)
October 12:
Pricing Strategies and Marketing:
Read: Chapter 4
Read: ARTICLE – “Pricing is Right”
Due: Customer Surveys – each team will bring a rough draft of a 10question survey, to be administered to potential target customers.
October 14:
Reading Comprehension Quiz#2
Sales, Suppliers, Distributors, and Break-even Analysis
Read: Chapter 12
Read: Sales Forecasting + Break Even Calculation Handout
GETTING OFF THE GROUND (Week 8 & 9)
Week 8:
October 19:
In-Class Presentations:
Customer & Marketing Presentation (Part 4, Section One: e – h)
DUE: In-Class Powerpoint Presentation (8 – 10 slides)
Hand in Powerpoint Slides of Presentation
Hand in approx. 6 pp. single-spaced of Business Plan, Part 4, Section One:
e – h.
October 21:
Entrepreneur Presentation (To be announced)
Week 9:
October 26:
The Organization – Legal, Tax, and Incorporation Issues
Protections – Patents, Trademarks, etc.
Read: Chapter 10
October 28:
In-Class Presentations:
Customer Survey Results + Break-even Analysis
DUE: In-Class Powerpoint Presentation (8 slides)
NUMBERS THAT TELL THE STORY (Week 10, 11 & 12)
Week 10:
November 2:
Protections – Patents, Trademarks, Service Marks etc.
Read: Chapter 11
November 4:
Reading Comprehension Quiz #3
Financial Statements
Read: Chapter 6
Read: ARTICLE - 6. Solving the Puzzle of the Cash Flow Statement
Week 11:
November 9:
Financing Your Venture
Read: Article – Bootstrap Finance: The Art of Start-ups
November 11:
Entrepreneurial Leadership & Corporate Governance:
Read: “The Most Important Job: Entrepreneurial Leadership”
Read: “To IPO or not to IPO: Risks, Uncertainty and the Decision to go
Public”
Week 12:
November 16:
In-Class Presentations:
Financials, Legal & Organizational Structure and Management
(Part 4, Section One: i - l) + (Part 5, Section Two, a – i)
DUE: In-Class Powerpoint Presentation (8 – 10 slides)
Hand in Powerpoint Slides of Presentation
Hand in approx. 6 pp. single-spaced of Business Plan, Part 4, Section One:
i – l + Part 5, Section Two, a - i
November 18:
Reading Quiz #4
Managing for Growth:
Harvesting – The Exit and the Future
Read: Chapter 13
PRESENTING YOUR PLAN (Week 13, 14 & 15)
Week 13:
November 23:
Presenting your Plan:
Video: Dragon’s Den – How it is and isn’t done.
Read: “How to Pitch Venture Capitalists”
November 25:
(Thanksgiving Break)
Week 14:
November 30:
In-Class Business Plan Support Session:
Each team, bring Draft of Business Plan and Final Powerpoint for Review
by me.
Peer Reviews
DUE: Draft of Business Plan
December 2:
Business Plan Presentations
Hand in Powerpoint Pitchbooks: please print out and bind the slides you
are using for your Business Plan Presentations
Week 15:
December 7:
Business Plan Presentations
Hand in Powerpoint Pitchbooks: please print out and bind the slides you
are using for your Business Plan Presentations
December 9:
DUE: Final, completed Business Plan
Wrap-Up Session
Appendix A
Business Plan Outline
Your plan will start with a Cover Page, followed by a detailed Table of Contents. The next
section to be included will be the Executive Summary (note: you will hold off on writing the
Executive Summary until toward the end of the semester). The subsequent sections (Sections 1
– 3) represent the main body of the business plan.
Important: The following outline should provide you with insights into what is most commonly
found in a business plan and how business plans are traditionally structured. Make sure to use
appropriate headings and sub-headings throughout (do not use the numbering system provided in
the guidelines – these are meant for the purpose of the syllabus only). Also, please remember
that these are broad guidelines – not all the questions will be relevant to your particular business,
so you will have to use your judgment to decide which ones to address in your business plan. In
addition, please refer to the sample business plans provided by me; they will be helpful in
guiding the development of your plan throughout the semester.
1. Cover page
a. The cover page should include the following items:
i. Identify the business name (& logo?) and the fact that it is a business plan
ii. Name of entrepreneurs
iii. Address and other contact information
iv. Business plan copy number (allows you to keep track of who has which version
of the plan and assures that investors don’t distribute to other individuals)
2. Table of Contents
a. List of sections, subsections, and appendices + pages on which they can be
found.
3. Executive Summary (2 - 3 pgs.)
a. The Executive Summary should include a brief description of the following:
i. Team
1. Who is asking for money?
2. What experience do we have for the opportunity being pursued?
ii. Business: What business are we proposing?
1. What is the business concept? Formally describe the business, its
product, the market it serves and the business' competitive advantage:
what business you are in, what you sell, who is your target market. (30
words or less)
2. What is the vision? Here, in addition to the WHAT of the business
concept, address the long-term WHO (will you be in 3 – 5 years), HOW
iii.
iv.
v.
vi.
vii.
viii.
(product/service change the way people live/work/play), WHERE (do
you intent to end up: goal) and WHY (you)?
3. 1-sentence Mission Statement.
Overview of business opportunity (from market research)
1. What is the opportunity?
2. Why is there an opportunity “right now”? Why is it a compelling
opportunity? Is there a fundamental shift that is causing the opportunity?
3. What is driving the opportunity? How long will the window of
opportunity last?
4. What are the Market Size and Market Structure? (see 3Ms)
5. Why are they favorable to our opportunity?
Competition & Strategy
1. Who are the main competitors AND what are they NOT doing?
2. What is the current structure of the industry and which forces are
affecting it the most (see Porter’s Five Forces)
3. What is the entry strategy? (see Generic Strategies; Entry Strategies)
4. How will your business fulfill the void in the market and STAND OUT?
Competitive Advantage and Business Model
1. What are the competitive advantages that the company will have?
2. Who is our customer? (see 3Ms’ Market Demand)
3. How will the company generate revenues? (see Revenue Models)
Economics of the business
1. What margins do we expect?
2. How long until breakeven is reached?
3. How long until positive cash flow is reached?
4. What profits do we expect to make?
Proposed exit strategy
1. How do we plan to harvest the business?
2. Over what time period?
Proposed offering
1. How much money are you asking for?
2. What will the money be used for?
3. What ownership are we willing to give up?
4. How do investors get their money out? How do they get repaid?
5. What are the expected returns for investors?
4. Section One: The Business. (no more than 20 pp.) Address the following:
a. Description of the business
i. What is your mission statement?
ii. What type of business are you in (service, product, wholesale, importer, etc.)?
iii. Why will your team be successful?
iv. What is special about your business?
b. Product/Service that you are providing (i.e., Buyer Utility Map; Value System)
i. What exactly are you selling?
ii. What are the benefits (not features) of what you are selling?
iii. How does your product/service differ from the competition? What exactly
makes it different?
iv. Why will customers buy from you?
v. Are there any proprietary aspects of your product/service?
c. Industry Analysis & Market Analysis
i. Industry analysis (i.e., Porter’s Five Industry Forces analysis)
1.
2.
3.
4.
5.
How do you define your industry?
How is the industry segmented?
What are the current trends and important developments?
Who are the largest and most important players?
What problems is the industry experiencing? Where are the
shortcomings?
6. What are the growth forecasts?
7. What are the competitive forces? What are the barriers to entry?
ii. Who are your target markets? You should define this very specifically and
include:
1. Size of market
2. Projected growth in market
3. How is the market segmented?
4. What companies currently service this market?
5. Percentage of market you hope to capture
6. Fierceness of competition in the market
d. Customer Analysis
i. Who are the customers in this market?
ii. How is your niche segmented?
iii. What benefits are your customers looking for when they buy from you?
iv. What alternative products/services are they buying?
v. Who makes the purchasing decision?
vi. On what cycle are customers likely to buy from you?
vii. What are the alternative customer groups?
e. Competitor Analysis
i. Who are your five closest competitors?
ii. How have their businesses been performing?
iii. How are their operations similar/dissimilar to yours?
iv. What have you learned from observing them?
v. How will your operation be better than theirs? (use Value Chain)
vi. Who are your indirect competitors?
vii. What are the size, location, target market, and other important characteristics for
these competitors?
viii. For your direct competitors, identify their products or services, price, quality,
features, distribution, and other important attributes. Devise a Competitive
Perception Map.
ix. At what price do you plan to offer your product/service? How does this compare
to the competition? What is your pricing decision based on?
x. What problems or concerns do customers have with these competitors?
f. Competitive advantage (here you summarize your advantage and core
competencies relative to the competition)
i. What are the competitive advantages that your company will have?
ii. What core competencies and resources does your business have?
g. Marketing Strategy
i. Product/service strategy (see Buyer Utility Map)
1. What specific product/service design characteristics meet the needs of
your customers?
2. What differentiates your product from that of your competitors?
3. Why will customers switch to or select your company for
products/services?
4. Must-have vs. Nice-to-have
ii. Pricing strategy (see Pricing It Right)
1. What is your pricing strategy and why?
2. How does your pricing strategy compare with the competition?
3. What evidence do you have that your target market will accept your
price?
iii. Distribution strategy
1. How will you distribute your product or service?
2. What distribution channels will you use? Why?
3. How will you gain access to these channels?
iv. Advertising and promotion strategy
1. How will you advertise and promote your product or service? Why?
2. How will you communicate with your customers? Advertising? Public
relations? Personal selling? Printed materials? Web-based? Other means
of promotion? Why?
3. Why will this strategy be effective in reaching your target markets?
v. Sales strategy
1. How will your product or service be sold? Personal selling?
Infomercials? Direct mail? Other?
2. Who will do the selling? An internal sales force? Manufacturer’s
representatives? Telephone solicitors? Other?
3. How will you recruit, train, and compensate your sales force?
4. How will you support your sales force? (e.g., internal staff, service
operations, etc.)
h. Operations
i. How will you produce and deliver your product/service?
ii. What will you do in-house, and what will you purchase (make vs. buy)?
iii. What comparative advantage do you have in your operational design?
iv. What will you relationship be with vendors, suppliers, partners, and associates?
v. Operations strategy
1. How will you use operations to add value for the customers in your
target market?
2. How will you win in the marketplace on the dimensions of cost, quality,
customer responsiveness, efficiency, and innovation?
i. Research and Development
i. What are the important stages of development of your product or service?
ii. What factors need to come together for your new venture?
iii. What are the technological, cost, competitive, and other risks?
iv. What is your development timeline?
v. What will development cost?
vi. What are the legal barriers you need to overcome? What kind of legal protection
can you attain for your product/service? (see Legal Protection of Intellectual
Property)
j. Location of the business
i. Describe the location and the pros and cons for placing the business there.
k. Competitive Five Forces:
i. How will you build up barriers to the competitive threats?
l. Management
i. Company structure (type of company; key personnel)
ii. Personal history of the principals: Strengths and related work experience + duties
and responsibilities for each.
iii. Salaries
m. Key Personnel
i. What are the personnel needs?
ii. What skills are needed? Are people with these skills available? Where and at
what price?
iii. Will employees be salaried or hourly?
iv. Will you have to train these employees? If so, at what cost (time, money,
interrupted work flow)?
5. Section Two: Financial Data. Address the following:
a. Sources and uses of funds
b. Capital equipment list
c. Balance Sheet
d. Breakeven analysis
e. Assumptions for financials
f. Sales forecast
g. Pro Forma Income Statements
i. Detail by month for first year
ii. Detail by quarter for second and third years
iii. Specific notes and explanations
h. Pro Forma Cash Flows
i. Detail by month for first year
ii. Detail by quarter for second and third years
iii. Specific notes and explanations
i. Sensitivity analysis
6. Section Three: Supporting Documents. You should include the following sections and
information:
a. Tailored resumes of all key entrepreneurs, managers, employees, and advisors
b. Job descriptions for each team members
c. Relevant supporting market research
d. Product designs
e. Positioning maps
f. Geographic maps (location of business)
g. Tables comparing your company to competitors
h. Relevant analyses using frameworks (buyer utility map, value system/chain, etc.)
i. Any other documents that support your plan
APPENDIX B
EVALUATION OF GROUP PRESENTATIONS
Topic: _________________________________________________________Date: _________
Group
Members:_______________________________________________________________________
       The Presentation is worth 100 points, allocated as follows:       
1. The presentation was delivered in an interesting manner (e.g., efforts were made to keep the audience’s
attention, audio visual aids were used effectively to support/highlight main points; props were used
effectively, etc.).
Excellent
(20-18)
Comments:
Good
(17-16)
Satisfactory
(15-14)
Poor
(13-12)
Unacceptable
(11 or less)
2. The presentation was professionally executed (e.g., presenters wore appropriate business attire, made
frequent eye contact with the audience, exhibited enthusiasm for the topic, did not read their presentation
or stumble for words, handled questions concisely and knowledgeably, etc.).
Excellent
(20-18)
Comments:
Good
(17-16)
Satisfactory
(15-14)
Poor
(13-12)
Unacceptable
(11 or less)
Points: ___
Points: ___
3. The presentation was clear and well organized and met the time requirements (e.g., appropriate
introductions of team, topic, and overview of presentation; the sections of the presentation did not
duplicate content; the presentation appeared as an integrated, cohesive whole - not a series of individual
reports, the presentation was easy to follow, etc.).
Points: ___
Excellent
(20-18)
Comments:
Good
(17-16)
Satisfactory
(15-14)
Poor
(13-12)
Unacceptable
(11 or less)
4. The presentation provided sound, appropriate analysis and insights (e.g., all and only relevant information
was provided, various forms of evidence were used, sound techniques of analysis were applied, appropriate
business concepts and conventions were employed to find solutions and suggest ways of implementation,
etc.).
Excellent
(20-18)
Comments:
Good
(17-16)
Satisfactory
(15-14)
Poor
(13-12)
Unacceptable
(11 or less)
5. Critical thinking was evident (the analysis, conclusions, and suggestions showed logically consistent
thinking and were characterized by judging and synthesizing, etc.).
Excellent
(20-18)
Comments:
Good
(17-16)
Satisfactory
(15-14)
Poor
(13-12)
Unacceptable
(11 or less)
Points: ___
Points: ___
TOTAL POINTS: ________
Appendix C
Rubric for Grading Individual Reflective Papers
Learning from
Class, Readings
and Speakers
Critical
Evaluation of
Learning
Reflection on
Group Work
Effective
Communication
Exceeds Standard
Meets Standard
Below Standard
10 points Demonstrates a clear
recognition of much of the
vocabulary, concepts, and themes
presented in the readings and class.
Journal illustrates understanding of
material presented in the
presentations, readings, and the class
discussion, by providing appropriate
explanations of material, descriptions
from speakers' quotes, and examples
from past experiences.
10 points Reflection conveys
evidence of a personal response to
topics raised with demonstration of
personal growth and awareness.
Develops and communicates own
perspective, position or conclusion.
Integrates issues using other
perspectives or positions. Identifies
and assesses conclusions,
implications, or consequences.
8 points Demonstrate recognition
of some of the vocabulary, concepts,
and themes presented in the readings
and class. Journal illustrates some
understanding of material presented
in the presentations, readings, and
the class discussion.
5 points Demonstrates
inadequate recognition of
vocabulary or the concepts
and themes. Omitted most
mentioned material.
8 points Reflection conveys some
evidence of a personal response to
the issues raised in the course and
other information sources. Student
demonstrates that he/she is
beginning to develop new ways of
reflecting on entrepreneurship.
5 points Analysis conveys
little evidence of a personal
response to the concepts
raised in the presentations
and materials.
10 points Writing demonstrates a
thoughtful reflection on the efforts of
other team members, their individual
contributions, synergies in the group
and mutual support provided.
5 points Makes effective use of
headings, fonts, bullet points, and
white space to enhance the content's
visual appeal and increase readability.
Organization of paper is clear and
easy to follow.
8 points Writing demonstrates a
vague reflection on the efforts of
other team members or their
individual contributions.
5 points Writing
demonstrates no or minimal
reflection on team work.
4 points Makes occasional use of
headings, fonts, bullet points, and
white space to enhance the content's
visual appeal and increase
readability. Organization of paper is
okay, but does not enhance
understanding.
4 points Edits text with minor
additional editing required for
grammar, capitalization,
punctuation, and spelling.
2 points Makes minimal
or no use of headings,
fonts, bullet points, and
white space to enhance
visual appeal and
readability. Organization of
paper confuses reader.
2 points Edits the text, but
errors in grammar,
capitalization, punctuation,
and spelling distract or
impair readability. (3 or
more errors)
5 points Edits the text with no errors
in grammar, capitalization,
punctuation, and spelling.
Has the effort put forth demonstrated the full potential of the student's capability? Yes / No