Spring 2013
Dr. Karagozoglu
CALIFORNIA STATE UNIVERSITY, SACRAMENTO
College of Business Administration
ENTR 187 Entrepreneurship
COURSE OUTLINE
INSTRUCTOR: Dr. Necmi Karagozoglu
OFFICE:
TAH-2024
OFFICE PHONE:
EMAIL
278-7389
Karagozo@csus.edu
OFFICE HOURS: M 3:15-4:30, W 3:15-5:00
REQUIRED TEXT
Mariotti and Glacklin, Entrepreneurship: Starting and Operating a Small
Business, Custom Edition for ENTR 187/Professor Karagozoglu)
SUPPLEMENTAL READINGS
1)Ward, B. T., “ Cognition, Creativity, and Entrepreneurship”, Journal of
Business Venturing, 19, 2004 ( Chapter 1)
2)Sahlman, William A., “How to Write a Great Business Plan” Harvard
Business Review, July-August, 1997, pp.98-108 ( Chapters 2,3)
3)Block, Z and I. C. MacMillan, “Milestones for Successful Venture Planning,
Harvard Business Review: Sep/Oct 1985, pp.184-189 ( Chapters 4,5,6)
4)Stancil. J. M., “How Much Money Does Your New Venture Need” Harvard
Business Review, May/June 1986, Vol.64, Issue 3 ( Chapters 7,8)
5)Bhide, A,” Bootstrap finance: The Art of Start-Ups ," Harvard Business
Review, Nov/Dec 1992, pp.109-117 ( Chapters 9,10)
6) Anatomy of a Business Plan, Reserve book Libarary
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COURSE DESCRIPTION
“You miss 100% of the shots you never take” (Wayne Gretsky)
MGMT 187 is the entry level course in Entrepreneurial Management and is
a prerequisite to all other courses in the entrepreneurship curriculum. It is
an integrative course—one that combines material introduced to you in
core courses and applies it to the evaluation and design of new ventures.
Accordingly, the course is more suitable for students who meet the
following course prerequisites: completion of at least one course each in
marketing, management, HR, OM, accounting and finance.
The purpose of this course is to explore the many dimensions of new
venture creation and growth . We will be concerned with content and
process questions as well as with formulation and implementation issues
that relate to conceptualizing, developing and managing successful new
ventures. The course may appeal to individuals who have a strong desire
to become entrepreneurs, as well as to those who consider joining start-up
companies as employees (as an alternative to considering jobs in
consulting,
investment banking, or established firms). Similarly, students who intend to
work in the venture capital industry or in professional businesses
supporting entrepreneurial firms will benefit from the course. In this
course, a new venture is defined as a start-up business with a high growth
potential that distinguishes itself from existing companies through
innovation – for example, through an innovative product or service, an
innovative production process, a new business model, or a new market.
You are expected to “stretch yourself” and identify currently unmet or
inefficiently met customer needs that your start-up addresses. Your
business concept should require careful analysis and definition of, among
other things, customer needs, product and service offerings, markets and
strategy, marketing, operations, financials and financing. In addition, your
new venture should have the potential for wealth creation beyond a
“normal” salary for its founders.
The four main learning objectives of the course are:
(1) “Experience the process”: identify and pursue a business opportunity
with a team of motivated peers.
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(2) “Analyze the problems”: ponder some fundamental issues related to
venturing and learn to assess the risks, challenges and rewards involved in
the venturing process.
(3) “Bridge the gap between theory and practice”: learn to transform ideas
into action, learn from your peers and role models on how to be both
thoughtful and effective.
(4) “Write a plan”: develop a business plan for a new venture.
The emphasis in this course is on applying and synthesizing concepts and
techniques from the functional areas of accounting, finance, managerial
economics, marketing, operations management, and organization behavior
in the context of new venture development. Further important pedagogical
objectives of the course are:
(1) To acquire the knowledge and spirit for venturing.
(2) To sharpen your ability to spot and evaluate opportunities for a new
venture.
(3) To think creatively and to solve problems in highly unstructured
situations.
(4) To examine the totality of a business proposal rather than concentrate
only on its functional aspects.
(5) To enjoy the advantages of peer-group review and feed-back during
the planning phases of a venture.
You will be challenged to shift from being a receiver of ideas, facts,
concepts and techniques, to a style of generating ideas, identifying
problems, analyzing and evaluating alternatives, and formulating workable
action plans, thus putting theoretical knowledge into practice.
You will get hands-on experience in the following ways:
designed to
familiarize you with the many dimensions of entrepreneurship and new
venture development.
particular section of their business plan analysis to the class. The class will
then comment on the presentations.
By the end of the course you should be well equipped to: (i) write an
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effective and professional first class business plan; (ii) to assess pro’s and
con’s of the entrepreneurial process, and its significance to you; (iii) build
your confidence and intuition about the entrepreneurial process of
converting dreams and aspirations into
reality.
What you can expect to learn or how much you will learn as well as the
usefulness of the course in your ensuing professional career depends, to a
large extent, on the following:
the idea into a business.
TEACHING APPROACH
Emphasis will be heavily placed on extensive student participation
in the learning process. You will spend most of the class time in
interactive discussion of conceptual material and cases that you read and
prepare for discussion before class. Your formulation of thoughtful ideas
will shape the thoughts and ideas of your classmates and thus further
enhancing the synergistic learning process. A variety of classroom
discussion techniques will be used during the class to facilitate discussion.
You will contribute individually and as part of a team
ATTENDANCE AND PARTICIPATION
Regular attendance is required due to the importance of in-class
activities.
Class attendance is very important in this course. Especially in an area like
entrepreneurship, learning occurs through interaction. You are expected to
come to class well prepared. Respect for your colleagues’ comments will be
expected at all times. It is important that you arrive on time so that we
may start class promptly.
You are expected to participate fully in all class discussions. You are
expected to advance your own ideas firmly (but not dogmatically), listen
carefully to others, and prepare before class. In principle, quality is more
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important than quantity in successful participation
CONCEPTUAL MATERIAL/TEXT
Text chapters should be read and digested prior to class sessions for which
they are assigned. These will be covered through class discussions and
traditional lecture method will not be used. It will be assumed that
you understand contents of the assigned chapters unless you ask
questions during class discussions. That is why it is extremely
important that you read and digest the assigned chapters
adequately prior to the class meetings each week.
COURSE REQUIREMENTS
BUSINESS DEVELOPMENT PLAN
Teams will follow Business Plan Outline in Text, p.45.
LITERATURE ANALYSIS ( Extra Credit)
You will be assigned a chapter from the text. You will pick a theme in the
assigned chapter and write a 5-page report on it . You need to use at least
five references. You will give a maximum of 10-minute oral presentation on
your report on the same day the assigned chapter is covered in class.
ORAL PRESENTATIONS
Each team will make oral presentation on the Business Development Plan
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Plan and Literature Analysis. Teams are expected to present, discuss, and
debate their work. Important considerations include organization, logical
flow, keeping the presentation within specified time limits, and clarity of
the presentation. Team members are expected to share equal
responsibility in oral presentations and demonstrate effective use of visual
aids. Also important are professional appearance and conduct,
attentiveness and enthusiasm, and defend his/her analysis/synthesis in
calm, cooperative and constructive manner.
The ability to understand inquiries and appropriately respond to inquiries
with substantive answers is highly important. Deficiencies in fulfilling a
quality oral presentation requirement will cost each team member up to 10
points.
CRITIQUE OF PRESENTATIONS
At the completion of each presentation, members of the class will share
their own analysis and opinions regarding the presentation contents and
specifically comment on any inaccuracies or gaps in the analyses, feasibility
and thoroughness of the proposed ideas and strategies offered. Opponents
will also advance alternative analytical schemes, offer counter proposals
and recommendations with supporting rationale as appropriate. These
critiques are to be orally shared in class.
CONTRIBUTION TO TEAM REPORTS/ PEER PERFORMANCE RATINGS
Each member of the team will turn in a “peer evaluation” of his/her team
members at the end of the semester. These evaluations will be held in
strictest confidence and results will not be disclosed to any individual until
the close of the semester. At that point a student will have the prerogative
to inquire about his/her total score as rated by his/her team. There will no
individual scores available for any reason. The obvious purpose of these
evaluations is to assist the professor in determining an individual’s
contribution to the case analyses.
SIGN OFFS
Submission of all team projects must accompany a signed certificate that
states all of the team members have taken “equal” part in developing each
section of the report and approved the final report. Do not divide the work
among team members and produce the final report as the sum of separate
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efforts!
EXAMS
Three exams will be given. These will focus on the conceptual material.
Each exam will involve twenty five multiple choice questions.
COURSE POLICIES
Team work is intended for all members to interact and synthesize their
work from start to finish. Violation of this rule will result a grade of “F”.
Assignments turned in after the scheduled class period is eligible for a
grade no higher than a “C” (and only if the report is otherwise an “A”). No
late reports will be accepted if submitted more than one class day past the
schedule due date.
There are NO MAKE UP EXAMS with the exception of health related
absences ( with documentation provided from a health care professional)
and funeral attendance. Instructor must be notified for legitimate
absences prior to the exam. This policy will be strictly
implemented!
Fifteen page report on “You be the VC” assigned by the instructor is
required for missing an oral presentation. There is no make-up
opportunity for a failure to perform adequately in oral presentations.
Academic Dishonesty: Any form of academic dishonesty (e.g., cheating or
plagiarism) will be grounds for receiving a grade of “F” for the course.
GRADING
Business Plan Report
Three exams
Contribution to Class Critique
130 Points
150 Points
25 Points
Contribution to Team Reports
20 Points
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Literature Analysis ( Extra credit)
Dr. Karagozoglu
( 20) Points
TOTAL
325 Points
Standard interpretation of the letter grades will be strictly followed.
A = Excellent/Exceeds Requirements
B = Above Average/Meets Requirements Well
C = Average/Meets requirements with Nothing to Spare
D = Below Average/Meets Requirements Barely
F = Fails to Meet Requirements
GRADE DISTRIBUTION
Grade
Class Average Range
GPA Equivalent
A
AB+
B
BC+
C
CD+
D
F
100-93
92-90
89-87
86-83
82-80
79-77
76-73
72-70
69-65
64-60
59 and Below
4.0
3.7
3.3
3.0
2.7
2.3
2.0
1.7
1.3
1.0
0.0
CLASS SCHEDULE
WEEK
TOPIC
Course Orientation and Discussion of Course Requirements
Instruction to Business Development Plan, Form Teams
2/4-2/8
Chapters 1,2
Chapters 3,4
Chapters 5,6
2/11-2/14
Team
Meeting
Chapters
7,8 for Business Plan Concept
1/28-2/1
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Presentations : 2.0/3.0/ 4.0 ( Exhibit 2.1, p.45 in Text)
2 2/17-2/22
2/25-3/1
9/24-9/28
Presentations on” Markets and Strategy”/”Marketing and
Review For Exam I
Operations/Management
and OrgaOrganization
Review for Exam II
EXAM I (CHAPTERS 1, 2, 3, & 4)
3/4-3/8
Team Meeting
Organization
3/11-3/15 EXAM II (CHAPTERS 5, 6, 7,8)
Team Meeting
Ch 8 ( Financial Assessment),
and
and 9, 10
Chapters
O
33/18-3/22
Presentations:5.0/6.0 ( Exhibit 2-1, p. 45 in Text)
Prer
Organization”
3/25-3/29 Presentations:5.0/6.0 ( Exhibit 2-1, p. 45, Text)
Chapters 11,12
Review for Exam III
Team Meeting
4/1-4/5
11/5-11/9 EXAM III (CHAPTERS 9, 10, 11, 12)
4/8-4/12
Team
Meeting
Review
for Exam III
4/15-4/19 Presentations: 7.0 ( Exhibit 2-1, Text)
11/19-11/23 Presentations: 8.0 ( Exhibit 2-1, Text)
4/22-4/26 Presentations on “Offering and Milestone Events and Key Risks”
4/29-5/3
5/6-5/10
Oral Presentation on Final Business Plan--Written Reports Due
Oral Presentation on Final Business Plan--Written Reports Due
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GUIDELINES AND POLICIES ON CASE STUDY TEAMS
• Select a team leader for each project.
• Team leader, in collaboration with all team members, should formally plan and
schedule the team activities. Note that it would be impossible to fully satisfy all
the team member's time constraints and schedule requirements. Everyone must
cooperate and compromise when necessary.
• Advance your own ideas firmly but not dogmatically. Persisting rigidly on your
own ideas, without a genuine effort to incorporate others' views to your own,
will stifle creativity and block the generation and flow of innovative and fruitful
ideas.
• Be alerted to the fact that a chronic domination of the team process by one or
two members would risk team productivity and become self-defeating.
• Team performance should be determined by the majority. Failure of one team
member to adequately contribute to team work should not be allowed to affect
performance.
• Each member should keep a timely record of team activities and submit these as
cumulative evidence to support peer performance ratings.
• Majority of the team members may decide to disqualify a team member to
receive credit on the team report. Majority is defined to include all of the team
members except for the team member who is considered to be excluded to
receive credit for the team report. The request by the majority in this regard
must accompany a document containing detailed account of all of the team
activities and explanation on how the particular team member drastically failed
to meet the team's expectations in relation to these activities. This document
must bear the signatures of all of the team members who constitute majority as
defined above.
• The class time allocated to team meetings must be fully utilized by all team
members to be devoted to team activities. A team member's failure to comply
with this policy must affect his/her peer performance ratings.
• Teams should meet and work together on all of the assigned cases. Team effort
to prepare a written case study report will involve several meetings.
• Each team member is responsible for the entire contents of the written team
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report. Teams should make every effort to fully and effectively integrate
logically consistent and coherent reports.
• Peer performance rating less than 15 points must accompany a detailed
explanation.
Guidelines on Class Participation/Contributions
1. The goals intended with this requirement are:
• To sharpen your critical thinking skills
• To sharpen your written and oral communication and persuasion skills
(especially under time constraints)
• To ensure your in-depth and thorough exposure to multiple case studies
• To prepare and train you for the competitive realities of the business
world
2. Write notes during the oral presentation on what you may potentially use in
your critique.
3. Identify the main issues in the business plan and think critically and
creatively about them to arrive at insightful perspectives.
4. Avoid limiting your critique to merely asking a question. Take a shot at
making a real contribution.
1. Do not critique the style of the presentation (e.g., oral presentation style,
particular approach to use visual aids, your opinion regarding how effective
the presentation is etc.). Focus on the contents of the presentation.
2. Limit your critique to maximum three distinctively different contributions.
This means you can get maximum three check points per presentation.
3. You must orally share at least one your critiques in order to qualify to earn
credit. The exception to this rule is the possibility for running out of class
time.
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STUDENT PEER EVALUATION SHEET
Your Name:___________________________________
Section #: _____
Group #: ________
DIRECTIONS TO STUDENTS: This is your opportunity to rate the
contributions made by your group members. Rate each group member on a
scale of 0-5 (5 being the highest possible) in each area:
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1. Cooperativeness: Was the group member available for meetings?
2. Dependability: Was he or she cooperative in making group decisions?
3. Originality and Creativity: Did this group member play a leadership role in one
or more areas of the case? Did this person make contributions in analyzing the
case?
4. General Contribution: Did this group member complete his or her "fair share"
of the case? This includes analysis, any required trips to the library or
anywhere else, preparation of the final report or presentation materials, etc.
Total the 4 ratings for each group member in the OVERALL RATING column (20
being the highest possible). Your rating sheet will not be shown to other group
members.
Name of Your
Originality &
General
Group
Cooperativeness Dependability
Creativity Contribution
Members
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OVERALL
RATING