UNIVERSITY of NORTH TEXAS COLLEGE OF BUSINESS ADMINISTRATION MGMT 3850 - Entrepreneurship Fall, 2003 Instructor: Professor Lynn Johnson Office: 315 Business Administration Phone: 940-565-3147 E-mail: johnsonl@unt.edu Office Hours: Wednesday 1:00 – 2:00 PM, Others by appointment. INTRODUCTION: Entrepreneurship (MGMT 3850.001) is a course focussing on the initiation of new ventures and approaches to growth of existing firms through opportunity recognition, innovation, and change. The course emphasizes the development of effective entrepreneurial skills and behaviors, leading to the preparation of a comprehensive business plan. Prerequisites: Open to non-business majors. COURSE OBJECTIVES: 1.) Know and understand the basic theory and principles of entrepreneurship and small business management; 2.) Conduct a feasibility study and prepare a business plan; 3.) Formulate and understand the process of implementing a strategic business plan; 4.) Conduct and prepare an industry and competitive analysis; 5.) Solve small business managerial, marketing, operations, and financial problems; 6.) Work effectively with peers to develop and recommend specific, effective solutions to entrepreneurial problems; 7.) Learn how to deal effectively as entrepreneurial consultants. REQUIRED MATERIALS: Kaplan, J. M. (2003). Patterns of Entrepreneurship. Hoboken, NJ: John Wiley & Sons, Inc. (Additional readings, cases, and exercises will be distributed in class) 1 METHOD OF INSTRUCTION: Classes in the course will be conducted using the textbook, research, discussions, exercises, articles and cases. Discussions will be used to elaborate on and extend the content of the readings, developing conceptual ideas and applying them to business situations. Articles and cases will deal with issues related to entrepreneurial problems. Recognize that each article/case is simply a record of an issue, which has been faced by business executives. It is not to be construed as portraying either correct or incorrect behaviors. Instead, these articles/cases contain the facts, opinions and prejudices upon which executive decisions have been made. As such, they will provide the basis for in-depth examination of particular issues and concepts. For this method of instruction to work effectively, you must have read and thought about all assigned material prior to the class. A good rule of thumb is to spend as much time analysing and preparing the material as you do reading it. PERFORMANCE EVALUATION AND GRADING: Your grade in this course will be determined by your performance on pop quizzes, one regular exam, a comprehensive final exam, an integrative team project, two presentations, and the level and quality of your participation. The point distribution will be as follows: Opportunity Analysis Presentation Business Plan Project Final Project Presentation Exam: 1 Comprehensive Final Exam Misc Assignments (Est. value per assign 10pt.) Maximum Points Possible Final Points 360 to 400 320 to 359.9 280 to 319.9 240 to 279.9 239.9 or below 20 100 30 100 100 50 400 Letter Grade A B C D F 2 CLASS PARTICIPATION: Various discussion techniques will be used in class. For these techniques to be effective, you must do the following: ATTEND every class, arriving on time so that it can start promptly. If you must be absent and have a reasonable excuse, please let me know in advance. Missing two classes will result in a reduction of one letter grade. Missing three class sessions will result in automatic failure. PREPARE for every class so that you can contribute to the discussion and also appreciate what is being said. Adequate preparation requires more than simply reading the assigned material. Rather, you should have analyzed all the important issues, taken a position on them, and be prepared to support them. If you have been unable to prepare adequately let me know before the class. This will help you avoid being embarrassed inadvertently. PARTICIPATE in every class. You are responsible for making sure that you do. Participation can take many forms, including making a comment, questioning what has been said, and synthesizing what has been said. If a fellow student makes a point you disagree with, do not let it go unchallenged. Otherwise I will assume you concur, possibly to your peril. Keep in mind that the amount of knowledge you gain from this course depends directly on your level of preparation and participation: you cannot participate if you do not attend class, and you cannot participate effectively if you have not prepared. Furthermore, the skills you develop through participation are as valuable as the techniques you learn in the course. Participation is evaluated on the basis of your readiness to become involved, the usefulness of your contribution, and the depth/effectiveness of your argument. In addition, the consistency of relevant contributions and degree of improvement over the semester will be noted. Minimal participation will be reflected in a minimal grade. PROJECT AND PRESENTATIONS: Team—OR—Individual Work (if requested and approved by Professor) The Business Plan (New Venture) project. The project assignment(s) are to be submitted in laser hardcopy and on diskette in MS Word. The original copy of the venture plan containing prototypes, etc. will be kept on file and will not be returned. A disk containing the exact electronic file of the hardcopy must be attached onto the last page of the original hardcopy. A professional report that (a) demonstrates a command and understanding of the business, the Industry, and competitors, (b) uses sound presentation logic and well thought through justifications, and (c) displays a liberal use of appropriate graphs, charts and tables, is expected. The written assignments must be submitted in class on the day they are due. Late submissions will not be accepted. (Separate handout) The in-class Team presentation must be of the highest professional standards. Use of appropriate presentation mediums and captivating presentation style is essential. Your team’s presentation will be graded based on the quality of (a) the content of the presentation, (b) the presentation style, and (c) the ability of the team to justify its position in the Q&A. All presentations will be made in the Team context. 3 PEER EVALUATION AND TERMINATION Peer evaluations are due with the final report. In addition, peer evaluations will be randomly requested during the semester to monitor team processes. Teams may also initiate a peer evaluation to alert the instructor of issues. Removal from the team is possible, but rare. Warnings usually correct the situation. The team is accountable for warning any student who is in danger of receiving a failing peer evaluation. Failure to warn a student may invalidate negative peer evaluations. A copy of the peer evaluation form is attached to this syllabus. Students dropped from teams will be required to complete an entire business plan on their own and must make the final presentation. EXAMS (1 & Final Exam): The two Exams are “knowledge-acquisition-application” oriented. That is they are designed to “quickly” test your knowledge of basic entrepreneurship concepts and theories, certain key business concepts, or analytical tools. The objective is to ensure that all students “are on board” and are “staying up-to-date” with the instructor and the rest of the class. The role of a comprehensive exam is to text your understanding of the theoretical and conceptual foundation of a course designed to focus on one key area/topic, etc. ORGANIZATIONAL CITIZENSHIP BEHAVIOR: Your individual grade on two applications and the integrated project will be based on the team score and peer evaluations. Therefore, contributions must be useful and timely. Individuals will engage in pro-social behaviors, and attendance at team meetings is strongly encouraged. See the attached student peer evaluation form. TEAM LAB POLICIES: Team lab policies and color printing policies are attached to this document. Violation of these policies could result in forfeiture of participation points in this class. 4 ADA COMPLIANCE: The College of Business Administration complies with the AMERICANS WITH DISABILIES ACT in making reasonable accommodations for qualified students with disability. If you have an established disability as defined in the AMERICANS WITH DISABILITIES ACT and would like to request accommodation, please see me as soon as possible. My office hours and office number are shown on this syllabus. SCHOLASTIC DISHONESTY POLICY: The UNT Code of Student Conduct and Discipline provides penalties for misconduct by students, including academic dishonesty. Academic dishonesty includes cheating and plagiarism. The term cheating includes, but is not limited to, (1) use of any unauthorized assistance in taking quizzes, tests or examinations; (2) dependence upon the aid of sources beyond those authorized by the instructor in writing papers, preparing reports, solving problems, or carrying out other assignments; or (3) the acquisition, without permission, of tests or other academic material belonging to a faculty member or staff of the university. The term plagiarism includes, but is not limited to, the use, by paragraph or direct quotation, of the published or unpublished work of another person without full and clear acknowledgment. It also includes the unacknowledged use of materials prepared by another person or agency engaged in the selling of term papers or other academic materials. (Source: Code of Conduct and Discipline at the University of North Texas.) If you engage in academic dishonesty related to this class, you will receive a failing grade on the test or assignment, and a failing grade in the course. In addition, the case will be referred to the Dean of Students for appropriate disciplinary action. This policy is intended to protect the honest student from unfair competition with unscrupulous individuals who might attempt to gain an advantage through cheating. 5 MGMT 3850 - Entrepreneurship Course Outline - Fall 20031 Week Date Aug. 27 1 2 Sept. 3 3 Sept. 10 4 Sept. 17 5 Sept. 24 6 Oct. 1 7 Topic - Introduction & Overview - Developing Ideas and Business Opportunities - Developing Ideas and Business Opportunities - Preparing the Organization for Growth - Speaker: Jim McDonald Reading/Assignment Hand-outs Text: Chapter 1 Text: Chapter 2 Text: Chapter 2 Bus Opp. due—one page Text: Chapter 9 In-class appointments Text: Chapter 3 Oct. 8 - Analyzing the Market, Customers, and Competition - Setting up the Company 8 Oct. 15 Exam One Chapters 1,2, 3, 5, & 9 9 Oct. 22 Speaker- Tony Clark 10 Oct. 29 Text: Chapter 4 11 Nov. 5 12 Nov. 12 13 Nov. 19 Speaker- Spence Nelson Preparing the Winning Business Plan Discovering the Value in Intellectual Property - Developing an E-Business Strategy - Managing Financial Operations - Early-stage Financing - Growth Funding - Preparing the Organization for Growth Team Presentations - Harvesting and Exiting the Venture Team Presentations - Holiday Time - Open for review of text mat’l & Final Exam mat’l Final Exam Day Team Project Due Today 14 Nov. 26 Nov. 27 15 Dec. 3 16 Dec. 10 Text: Chapter 5 Text: Chapter 8 Text: Chapter 10 Text: Chapter 11 Text: Chapter 6 Text: Chapter 7 Text: Chapter 9b TBA Text: Chapter 14 TBA Happy Thanksgiving! 1 This schedule is not absolute. While every effort will be made to follow the schedule as listed, changes may be made as needed. It is your responsibility to be aware of any announced changes. 6 Team Lab Use Rules TEAM = Two or more students enrolled in Business Classes (no other students may work as teams in these labs). *Official Teams: These teams have officially been requested by a business faculty member. Teams may reserve ONE four-hour time slot per day. These faculty requested teams may use the labs for four (4) hours at a time even if they did not make a reservation. If the labs are full and a reservation comes in, this team who is a “walk-in” team will be asked to leave for the reserved team. *General Teams: These “teams” are two or more students currently enrolled in business courses. Teams may reserve one two-hour time slot per day. Rules for all Teams Students MUST present their current University ID card. One-time access may be provided with a picture ID for students who are in the lab database. The lab attendant will keep the ID cards while the students are using the lab and will only give the ID back to the owner of the ID. No other person may take the ID. Reservations have to be made at least 24 HOURS IN ADVANCE. If a team comes in and wants to make a reservation for that day, they may not. If there is an opening in the lab at that time, they will be admitted, but if the lab is full and a team enters who has a reservation, the “walk-in” team will be asked to leave. One team member cannot check in independently and use the team lab. There must be two or more team members checking in for the team area to be used. A team can only reserve and use one cubicle—not two or more. Reservations will be honored over walk-in teams. Reservations will be held for 15 minutes. Individual persons in one team CANNOT try to reserve a lab right after another member of their team has made a reservation. Both of the ENTIRE GENERAL TEAM and ENTIRE OFFICIAL TEAM can only reserve one cubicle once a day. Lab Printing: All print jobs will be ONE SINGLE COPY FOR EACH TEAM MEMBER PRESENT—no other duplicate copies will be made. Color printed copies will be ONE FINAL SINGLE COPY for each team (not each member) to be handed in to the professor. There will be no loud talking, smoking, chewing tobacco, eating, or drinking in the lab areas. No children, friends, family, or personal tutors may accompany the users. Cell Phones MUST BE TURNED OFF while in the labs. 7 College of Business Computer Labs Color Printing Policies These policies are an extension of the standard printing policies already in place for the College of Business Computer labs. All print jobs intended for the color printer must be reviewed and approved by the lab attendant on duty before they can be printed. Lab attendants must visually inspect each document on the student's computer monitor before clearing it for printing. Any print job, which does not satisfy the color printing requirements, will be deleted from the print queue. Any print job that remains in the print queue for more than 15 minutes will be deleted. COBA Computer Labs Color Printing Requirements Printing will be provided ONLY to UNT students. Only documents that will be turned in as class assignments may be printed on the color printer. Only pages that require color may be printed on the color printer. If a 7-page document has color only on one page, then only that page may be printed on the color printer. The other 6 pages must be printed on the laser printer. Only pages that use a limited amount of color may be printed on the color printer. Only one copy of a document may be printed on the color printer. Students are encouraged to print a draft copy on the laser printer and carefully proof-read it for accuracy before printing to the color printer. Only PowerPoint presentations with a white background color may be printed on the color printer. Pages with solid-color backgrounds may not be printed on the color printer. Web pages may not be printed on the color printer. Students are not allowed to make flyers or signs unless they are directly related to UNT course work. Proof is required. 8 Students are limited in the number of pages they may print. Students may not print more than 5 pages of color printouts per print job. Larger documents must be printed in stages (i.e. print pages 1 - 5, then print pages 6 - 10, etc.). Please ask the lab attendant if you need assistance. These jobs should not be printed during peak hours, but should instead be printed during the early mornings, evenings, or weekends. Very large print jobs must be cleared in advance with the Lab Manager. Users are encouraged to use double-sided printing when available and appropriate. Lab attendants have the right to delete any print job, which prevents other customers from receiving their printouts in a timely manner. Students may only print using available lab resources. Printers will only be loaded with the lab's stock paper. No "special paper" will be loaded into the printers. Printouts requiring special paper or transparencies should be printed onto lab stock paper and then taken to an UNT Copy Center to be copied onto the special media. All users must adhere to the COBA Printing Policies. Customers found disregarding Lab Printing Policies will be asked to leave the lab. The Lab Manager has the authority to restrict the printing and/or lab access privileges of any person who abuses printing policies. The Lab Manager may, at her own discretion, grant exceptions to these policies. However, these exceptions will only be made on a case-by-case basis, and the student must be able to present valid documentation. 9 Team #______ Name ___________________________ Activity: _________________ Signature ________________________ MGMT 3850 PARTICIPATION IN TEAM PROJECT EVALUATION SHEET INSTRUCTIONS: * Evaluate the performance of each team member (including yourself) using the following criteria. 1. Did the individual display initiative while working on project? 2. Did the individual attend scheduled meetings? 3. Did the individual adequately complete assigned work? 4. Did the individual foster team spirit? 5. Did the individual contribute to project completion? * You must distribute a total of [N*100] points among your team members based on each member’s overall contribution to the team project. N = the number of individuals on your team. For example, if there are 7 members (including yourself) on the team, then the total number of points that must be distributed among the members of your team is: 7*100 = 700. * For any team member whose points are significantly above or below the team average (i.e, greater than 110, or less than 85), please make specific comments indicating why the team member received that score. * Fold the evaluation sheet, enclosed in one envelope, and return it to the instructor with the finished report. PERFORMANCE EVALUATION MATRIX POINTS NAME OF TEAM MEMBER ALLOCATED [Ensure that this column total =[N*100] 1. 2. 3. 4. 5. 6. 7. Total Points 10 Comments on Highest and Lowest rated team members. Please be as specific as possible to explain your rating. I will use the team consensus (and investigation) to penalize those members that underperformed due to controllable job related behaviors. Member Name ______________________ Member Name ______________________ Member Name ______________________ Member Name ______________________ 11