AREA: ENTREPRENEURSHIP INTERNATIONAL .M.BA
PROFESSOR:
Professor of the Entrepreneurship Department
SESSIONS: 30
Hana Milanov joined Instituto de Empresa's Entrepreneurship Faculty in 2007 upon finishing her doctoral studies in Entrepreneurship and Strategy at Kelley School of Business, Indiana University. Her research bridges these two disciplines through a special interest in social networks. Specifically, she explores how entrepreneurs can efficiently enter industry networks, the uncertainties surrounding the formation of new alliances, as well as the mechanisms through which entrepreneurs can position themselves in the network in order to benefit most from privileged access to various resources. "Access to network resources is often taken for granted. Running a search on Amazon.com for business networking yields more than 35,000 book titles. Yet, with all the increasing prominence that the power of networks and networking receive in research, popular press and every day business life, networking is more than a buzzword" says Hana and adds: "Call it an art, call it science, but we still have many questions to answer in order to advise entrepreneurs how they can get to the point of efficiently accessing and benefiting from their relationships"
Hana's work was published in Frontiers of Entrepreneurship Research, and presented in some of the most prestigious conferences in the fields of Entrepreneurship and Strategy, such as the Babson-College
Entrepreneurship Research Conferences, Academy of Management Annual Meetings and Strategic
Management Society Conference among others. Hana is also passionate about teaching, and believes that experiences from research and teaching complement each other. Relying on a diverse set of teaching resources, she encourages a discussion-based learning experience with the final goal of developing students' critical skills and new perspectives on the course material.
Academic Background
PhD in Entrepreneurship and Strategy, Kelley School of Business, Indiana University, Bloomington, IN,
USA
Master of Science in Management, Kelley School of Business, Indiana University, Bloomington, IN, USA
BA in Business, Faculty of Economics, University of Zagreb, Croatia
2002 Central European Leadership Institute (CEll) certificate. George Washington University in Zagreb, Croatia
Academic and Teaching Experience
2007 - present (Assistant) Professor of Entrepreneurship, Instituto de Empresa
2003 - 2007 Associate Instructor and Research Assistant, Indiana University. Courses taught at undergraduate level: Contemporary Entrepreneurship (multiple sections). Assisted in MBA level course:
New Venture Strategy.
2002 - 2006
2001 - 2002
Junior Research Assistant at the Institute of Economics Zagreb, Croatia.
Teaching Assistant at the Faculty of Economics, Zagreb, Croatia. Courses: Strategic
Decision Making, Strategic Management.
Office: Pinar 7, 1a
Office Phone: 91-745-34-82
Office Hours: Available by appointment
E-mail: hana.milanov@ie.edu (preferred email) While I welcome and enjoy meeting with students outside of class, please email upfront to set up a meeting hmilanov@profesor.ie.edu (facilitated through campus interface)
Published by IE Publishing Department.
Last revised, October 2009.

This course provides a forum for the in-depth examination of mindsets, methods, and managerial activities that follow the entrepreneurial process from opportunity recognition to growing ventures.
While the most visible outcome of this course is a written business plan, we will examine entrepreneurship from a managerial perspective, covering a wide area of issues that emerge with starting and growing new ventures - - be they independent or corporate projects.
The 30 sessions that compose the course are envisioned to give you a well-rounded learning experience - one which will enable you to develop skills and apply tools vital in today's business world, whether you explore it as an entrepreneur or a corporate manager. The theory you will receive from lectures and class readings will serve as a backbone to a range of hands-on experiences through case discussions, coaching sessions, team work, pitching and business plan presentations, as well as through panels with entrepreneurs and investors. By keeping the class experience on the interface between theory and practice, the course structure will lead you through the intricacies of the entrepreneurial process, both through others' (case studies and panelists') and own experience (coaching sessions, developing and presenting a business plan).
Upon the completion of this course, participants should:
• know how to recognize and evaluate new venture opportunities (vs. ideas), understanding both the entrepreneur's as well as the investor's perspective;
• understand the issues faced by entrepreneurs when starting a venture, as well as possess the fundamental skills and tools required for embarking on a new project, in an independent and in a corporate context
• understand the nature and purpose of a business plan in the context of new and / or growing ventures and be able to write, articulate and present a business plan.
The written and video cases, class exercises as well as the guest speakers' experiences will expose you to viewpoints on both sides of the table -- that of the entrepreneur and that of the investor. Moreover, the settings we will be exposed to in our case studies range from pizza chains to breakthrough technologies, from small start-ups to mature companies, from ventures backed by sophisticated investors to those funded by friends. Moreover, we will cover online and offline businesses, service and product-based businesses, as well as B2C and B2B models. By exposing you to a broad range of settings in which entrepreneurs operate, the intent is to break the persistent but fundamentally wrong myth that entrepreneurship is limited to but a few heroic figures covered in the popular press, but if we so desire, accessible to all of us.
How You Should Prepare for Class
Entrepreneurial Management is envisioned as a highly interactive class, where students learn from each others' experiences and class discussion (in the class and in working groups outside of class). In that sense, while I will do my best to provide you with interesting materials and facilitate discussion to highlight learning points, much of your learning depends on you: your preparation, active participation in class, and reflection after the class. Entrepreneurship is action-biased, hence classic "stand-up lectures" where students act as passive recipients of knowledge will be rare.
2

Preparing cases: For case discussion sessions, it is recommended that students: (1) review the
"questions to contemplate" (questions associated with the assigned case in the outline below), (2) carefully read the case, and (3) take personal (brief) case notes designed to capture the key themes and issues of the case. (These notes may also come in handy if a student is randomly picked to lead off the case discussion). Pre-class discussion of the case with classmates and your assigned groups is also encouraged. Please note that the guestions assigned for preparation need not be the ones that I will use in opening the class and steering class discussion -- however, thinking through the assigned questions should make you well prepared to contribute to the class discussion.
For other readings (other than cases), it is recommended that students identify (and write out on paper) three key discussion points associated with each reading. These discussion points can take any of several forms, including: major insights revealed in the reading and how they relate to the case; controversial assertions made in the reading; or your personal thoughts and experiences that build on or otherwise evolve from the reading.
The nature of this course does not lend itself to objective questions seeking "right" and "wrong" answers per se. However, there are different levels of quality in fulfilling the course requirements. Just as an investor ranks the attractiveness of different proposals, I will rank your work against that of your peers and assign an appropriate grade. Just as some deals get funded and others not, there are variations in the quality of each student's / group's work.
1
.
2
.
3
This course is competitive, follows IE's guidelines, and is based on individual and group work. The components of the course are weighted as follows:
INDIVIDUAL IN-CLASS PARTICIPATION
GROUP PITCH / FEASIBILITY REPORT
BUSINESS PLAN PROCESS 40% (Coaching, BP document, BP presentation)
35%
25%

No late assignments will be accepted.

Grades are non negotiable. I devote a lot of time and thought to evaluating students, and it will be hard to convince me otherwise. I will glad to discuss possibilities for improvement or any other guidance during the course. However, at the end of the course, once posted, I consider the grades as a final evaluation of the student's performance. Occasionally, there are requests for re-grades. To this point, you should know that most of the time your grade will not change and I do not appreciate negotiating attempts, especially of the participation grade. However, if you believe that there was an oversight in grading a particular assignment, you
3

should make a written statement explaining your view. In such rare cases, you should know that reevaluating a particular aspect of an assignment requires that I reevaluate the entire assignment.
As a consequence, grade changes are most often not positive, as it is also possible that your grade will decrease. Finally, you should be aware that IE has instituted formal procedures to align any disagreements regarding grades, and you may inquire with the program management regarding the details of this procedure.
1. Participation and Case Discussion
As mentioned earlier, this course is premised on discussion as the key pillar for learning. The discussion forum provides an opportunity to argue your position and to learn from others by listening to their comments and criticisms. Experience shows that the better you prepare your readings, the more confident you will feel in class, and the better the mark you will get. The opposite is also true. Bottom line is that a student should not expect to pass the course without active participation in class.
While I do not actively track class attendance, without being present in class you cannot contribute or receive a positive mark for that day. When in class, I expect you to be alert and involved in class discussion. I will keep track of class participation and contribution during each class, and will evaluate your participation according to the following criteria:
Is the student present and on time? As outlined above, though I do not track attendance, any absence naturally cannot yield a positive score in participation. Similarly, tardiness will not be tolerated in this class and will be reflected in your participation grade.
Please note that absence from any of the classes cannot be compensated by any other extra assignments.
Does the student participate in class? For others to learn from your experience, you must participate - which means offering your insights in all sessions. While quantity of participation helps, I will place an emphasis on quality points. Please see below:
Does the student make quality points? As I value quality over quantity in majority of cases, it is entirely possible to offer many comments and still receive a fairly low grade for participation, To help you in preparing for class and increase your participation grade, these are the characteristics I value:
 being an active, but NOT a dominating participant competing for "air time"
 demonstrating that you have carefully read the case/readings and given them careful thought
 applying conceptual material from the readings or the lectures
 reaching back to something said previously in the discussion that is pertinent to the discussion at the moment, and integrating comments from classmates


 identifying / challenging key assumptions underlying discussion points and arguments drawing parallels from previous cases or other experiences being CONSTRUCTIVE and POSITIVE in one's comments.
When determining the class participation grade at the end of the class, the following questions will be asked: Are the points made relevant to the class discussion? Did the comments add to our understanding of the situation? Does the participant go beyond simple repetition of case facts without analysis and conclusions? Do comments show an understanding of theories, concepts, and analytical devices presented in class lectures or reading materials? Were the concepts presented in a concise and convincing fashion? Can the participant back up a point with own analyses or other projections?
A final point regarding class participation relates to my response to your comments. While I often write good comments on the board, every good comment is not written on the board and some comments are written primarily to spark dialogue. There are three reasons for this. First, I am conscientious about the limitations of whiteboard space. Second, a comment may be a positive contribution to the class but does not take the discussion in the direction consistent with the overall objective of the session. Third, sometimes writing on the board needlessly slows down the class discussion. In short, comments I do not write on the board are not necessarily poor comments.
4

Finally, it is important to know that:
A student can achieve negative points when being discourteous, violating any of the class policies, when making irrelevant comments of insignificant importance, and especially, when using an impolite manner.
A zero will be given to students who are either absent from class and/or present in class but silent and / or did nothing to move the class ahead
Note: I will request volunteer students as necessary ("cold call") to ensure that everyone has a chance to demonstrate his/her accomplishments. I believe in giving everyone a chance to speak, and will approach people who have not yet spoken before I let someone have 'air-time' twice.
2. Make the Pitch! & Group Feasibility Report:
Your Business Plan team will hand in a brief report (which should not exceed 4 pages, single spaced, 12 point font) containing the feasibility analysis of the identified idea. This is essentially a formalized report on your idea, which will give you an opportunity for valuable feedback from your classmates and me before you start working hard to develop the business plan itself.
This document will cover the key areas surrounding the identified opportunity - and will stress the attractiveness of each. Given the preliminary nature of this report, you should NOT focus on the financials, but rather explore the macro (market and industry) and micro (competition and target market) context while focusing on clearly presenting your value proposition and the business model.
In writing this document, think of my reaction to your logical reasoning - will I be interested in exploring your business plan in future based on this short document? A document with detailed instructions for this write-up will be posted on campus online at the beginning of the 1 st class.
Building on the ideas from the feasibility report, your group will be performing an elevator pitch. You will have 3-5 minutes (depending on the final number of groups) to present your idea and key factors that make the execution of that idea a feasible and attractive opportunity - one worth writing a business plan for.
The final grade for feasibility analysis will be calculated in the following way: 1/3 feasibility pitch
(presentation) + 2/3 feasibility report. The criteria in evaluating each component are outlined below:
Feasibility Report Criteria: I will be grading and equally weighing the following segments in your study: (1) Customer and producUservice, (2) business model, (3) Market analysis
(micro and macro), (4) industry analysis and competition, (5) competitive advantage, (6) overall depth of research, (7) graphics, charts and tables (supportive material and its relevance to your arguments), (8) persuasiveness of the argument, (9) writing and expression, (10) overall interest generated.
Feasibility Presentation Criteria: In grading your presentation, I will focus on general clarity and argumentation skills when presenting your opportunity, as well as the comprehensiveness, conciseness and professionalism in your Q&A session. Do keep in mind that the visual aids (such as slides) will also be considered when evaluating the presentation.
3. Business Plan
While the completion of the business plan is the culmination of our class experience, your teams will be encouraged to spend most of the course time thinking, working on and developing your business plan. Rather than rushing and "crunching" all the research in the last minute, the nature and structure of this course will push you to continuously work on improving your plan.
5

Team Logistics:
As with other projects, your IMBA assigned team will work on the business plan. However, I acknowledge that entrepreneurs recruit their own team members and staff, and the same option is given to you in assembling your team. While this option is intended to bring you as close to the entrepreneurial realities, due to course management, I will insist that the number of originally assigned IMBA teams and approximate number of members per team does not change.
Please do not inform me of your wishes and preferences regarding team membership UNLESS and UNTIL you have already agreed on and organized the inter-change (one-for-one) of team members, respecting the above condition. Stated briefly - if you want to change teams, it is your own responsibility to do so in time preceding your delivery of the feasibility study (session 10), when the team members are final.
In the course of developing the business plan, you are expected to:
• present three deliverables (one for each of the three coaching sessions). These deliverables should be in the form of concise progress reports, followed by a list of action items / concerns that should be discussed at the meeting
 hand in the final written plan,

 give the business plan presentation, and appraise your peers.
The final grade for your business plan process is a group grade, but it is important to note that, beyond the business plan document and presentation alone, I will grade the business plan process as such, and each student's final grade will be weighed accordingly. Hence, it should come as no surprise if team members' individual grades mutually differ, with better evaluated students receiving a higher grade, and vice versa.
This will be done by evaluating your effort in each of the coaching sessions, and always supported by the peer appraisal form (described below). Hence, while each of the 3 deliverables will NOT be graded, writing the deliverable and thinking through the topics you wrote about will be observable and reflected in your preparation and quality of the discussion at each of the coaching sessions. Please note that coaching sessions should be treated like any other class -- your absence cannot be valued, nor can it be compensated by other work. The team is collectively responsible for presenting the deliverable (entire team's grade will suffer if you don't have one).
Each student will complete a confidential peer appraisal (to be provided in class) reviewing each member's contribution to the business plan process in the last session. The peer appraisal is meant to discourage "free riding" by any member of the group, and encourage sharing the significant workload of this assignment fairly. Note:
1) You are responsible to manage your own team, and this will be a valuable experience to take into your entrepreneurial/corporate career. Therefore, as in the real world, any issues that may arise should be managed within and by the team, without my interference. I will consider the peer appraisal only at the very end of the process, as your individual reflection of the teammates' contributions to the process.
2) Peer appraisal will not automatically enter the final grade calculation. However, I reserve the right to reduce / increase an individual's grade on the business plan based on my own observation and the group's feedback. The peer appraisal will concentrate on evaluating whether each team member did his/her share of the work conscientiously on a timely basis and with a positive outlook. Each team member will submit the Peer Appraisal Form after the BP presentation. A final course grade will not be given until all peer appraisal forms have been submitted.
6

In conclusion, evaluating team-work and the final business project is challenging. While I encourage you to learn how to manage your team successfully, the above criteria are introduced as safeguards that encourage team planning and execution throughout the class period. Hence, with well functioning teams
(regardless of the final quality of the BP and the presentation), it should be of no surprise that the team shares the grade assigned to the project. However, the opposite can be expected as well. In this sense, the final grade is a reflection of a) individual effort, b) team performance, c) continuous progress, and d) the final deliverables.
Your team will be collectively responsible for delivering the Business Plan document and slides (7 days following your Business Plan presentation), in compliance with the discussed format and incorporating the analytical and planning tools discussed throughout the course. During the business plan presentation, each team will also allocate one slide and 2-3 minutes to highlight the most important learning points from your experience in preparing the business plan. The quality of the document per se will be judged on the basis of its comprehensiveness, coherence, and substantiation of arguments (supported by primary and secondary research and references), as detailed below.
PART % What I would like to see
Executive
Summary
Products
10% Clear, exciting and effective as a stand-alone overview of the venture.
/ 10% Description of your products / services in terms of identifying the
Services and
Value customer (and segments if applicable), technologies and distribution channels, features, and benefits, current stage of development, proprietary position, etc.
Proposition(s) Make sure to clearly outline your value proposition( s)
Markets
Strategy and 20% Description of market opportunity, customer and market analyses, industry and competitive analysis. State and justify your overall business strategy, your competitive advantage and sustainability of the business.
Explain how and why you will "make it happen".
Marketing and 10% Plans for production/delivery of product or services, product costs,
Operations operating complexity, required resources, marketing and sales.
Management and
Organization
Business
Model
5% Backgrounds of key individuals, ability to execute strategy, personnel needs, organizational structure, role of any non-student executive. Type of business, summaries of staffing requirements; organizational chart (if applicable)
20% Present your business model (identifying main revenue and cost drivers) and along with all the critical assumptions that will help us understand your
Financial
Issues
Offering financial plan. Complete analyses of financial plan, financing plan and evaluation (quarterly for years 1 to 2, annually for years 3 to 5). Focus on assumptions and implications, rather than extensive projections going for paqesONili not accept MS Excel spreadsheets sent in a separate form.
5% Proposal/terms to investors and/or potential resource providers. Indicate how much wanted, for what use, and when it is needed, and what is in it for them. Elaborate on ROI, the proposed structure of the deal, and possible exit strateqies.
Milestone
Events
Key Risks
Viability,
Brevity
Clarity
10% and
Present realistic schedule of events, their anticipated timing and interrelationships between the major events necessary to launch and grow the venture. Identify and discuss critical events and their impact on your plan. Outline your contingency plan, depending on the key risks identified.
10% Is the plan approximately 25 pages with minimal redundancy? Is it and cohesive? Concise? Does it flow logically? Do the facts lead to the conclusion Is the plan credible? Believable? Are all sources of

Students should arrive to class prepared and on time. Arriving late to class may disrupt your classmates' and my own focus, and will be reflected in your participation grade.
Laptop usage
You are kindly asked to defer from laptop usage in all of our classes. If you have already prepared notes for the case discussion, please print them out before class. Naturally, please also defer from using cell phones, PDAs or any other technology that may disrupt the flow of the class. Please note that texting in class is a serious violation of class policies and will be reflected in your grade.
Academic and Professional Integrity
The highest standards of academic honor and integrity will be expected of all class members. Any form of dishonorable, disrespectful, dishonest, disruptive, vulgar and/or otherwise unprofessional behavior such as plagiarizing is strictly prohibited. By session 2, you are expected to know our
(IE's) Ethics Code, and to understand how it applies to our course.
I hope that this class will provide you with a highly enjoyable learning process. While his syllabus represents our "classroom contract", I trust that you will share my belief that we can learn from each other in rich discussions in and outside of the classroom. I will do my best to facilitate an interesting and rounded discussion conducive to a learning environment, and promise never to provide you with "spoon fed" information or memorizing of lists. At the same time, I expect from you proactive preparation and active participation, with a healthy dose of humor and good spirit. I also appreciate your opinion and constructive feedback, and (within the course structure boundaries), I will do my best to make the class contribute to your learning process. Finally, I find entrepreneurship to be a fascinating field, and am delighted to meet and share ideas with a group of diverse and interesting individuals whose ideas could become the enterprises of the future. I hope you find that as exciting as I do.
8

Summary of Sessions
SESSION KEY CASE: #
1,2 R&R
3,4
5,6,7
8
9
10
11,12
13
14
15
16
17, 18
19
20
21
22
23,24
25
26
27 28-
30
Startup. com
Workshop
Circus Industry ie
Venture Lab
Presentations
Pinar 7, 1 st
floor
@Hoc
Guest Speakers
@Hoc
Zip Car
Pinar 7, i" floor
TerraCycie
Valhalla
E Ink
Guest Speakers
Pinar 7, 1 st
floor
Telepizza
Dow Jones
Conclusions
Presentations
TOPIC:
Class Introduction: Scope, Goals and Principles of
Entrepreneurial management
The Big Picture: Business Creation Process
Macro Session, location TBA - on Ideas and Opportunities
Value Proposition and the Opportunity Context
Evaluating Opportunities and their Feasibility
Pitch
Coaching #1
Business plan Document and Analysis - Key Concepts
Panel of Entrepreneurs, AULA MAGNA
Business Plan Document - Business Model Analysis
Business Model Adaptation
Coaching #2
Sources of Financing and Deal Terms
Understanding Valuation: Assumptions and Sensitivity
Venture Development: Early-Stage Issues
Panel of Investors, location TBA
Coaching #3
Venture Development: Issues of Maintaining Growth
Entrepreneurial Management in the Corporate Context
Entrepreneurial Management: Concluding Remarks Final
Exam - Business Plan I Group Presentations
9

SESSIONS 1 and 2. Class Introduction: Scope, Goals and Principles of Entrepreneurship
Required readings
Questions for preparation
Case Study:
-
Syllabus, IE Ethics Code
-
96603)
The questions every entrepreneur must answer (HBR class
-
-
What is your definition of an entrepreneur / entrepreneurship?
What are your expectations and learning goals from this class?
R&R (HBS case 386019)
-
Identify factors that created an opportunity for Bob Reiss
Questions preparation: for and the "TV Guide Game?" case
-
Identify the risks and rewards faced by Bob Reiss and other participants in the enterprise?
-
What actions did Bob Reiss take that led to the success of the "TV Guide Game?"
SESSIONS 3 AND 4. Elements of Entrepreneurship: Business Creation Process
Required readings
Video Case Study
-
Process
Bygrave & Zacharakis
:
Ch.#1:
Startup.com (we will watch the video in class)
Entrepreneurial
-
What is the difference between an idea and an opportunity?
Questions for class
-
What makes an idea or an opportunity attractive (from an preparation
- entrepreneur's vs. investor's perspective)?
What are the key dynamics in the entrepreneurial process?
SESSION 5, 6, 7 "Macro session"
Required readings
-
Kawasaki, G. "Rules for revolutionaries" (Chapter #1 + pages 34 - 45).
-
Identifying Venture Opportunities (Stanford Case E-
323)
Questions for class
-
- preparation: value?
Where do business ideas come from?
What is a value proposition and how
SESSION 8. Value Proposition and the Context can you create
Required readings
-
-
(HBS)
Questions for class
-
Creating new Market Space, (HBR 99105)
How we built a strong company in a weak industry
What is the difference between industries and markets?
-
Can you think of other examples of creating new market preparation
Case Study space?
-
The Evolution of the Circus Industrv (A) 1
0


Questions preparation for case
How would you rate the attractiveness of the circus industry?
(Please identify the specific criteria and arguments behind your overall evaluation)
What are the main segments of competing in the industry and what are their respective pro's and con's?
How would you describe the value propositions in the circus industry?
SESSION 9. Opportunity Evaluation and Feasibility
Required readings
- online)
Feasibility Study Guide (to be posted on campus
Questions preparation for
-
What are the criteria to use when evaluating class opportunities?
-
How would you prioritize these criteria as (a) an investor,
(b) an entrepreneur?
-
How would you identify the right opportunity for you?
- ie Venture Lab (will be distributed a week before
Case Study class)
SESSION 10. The Pitch
Questions for
- evaluate each of the presented opportunities in the case case using the Feasibility Study Guide preparation
-
How could you improve the identified weaknesses or further leveraqe identified strenqths? answer the question "Why is it worth to make a business plan for this opportunity?" Please follow the guidelines in the Feasibility Study Guide in writing it up and hand in the document at the beginning of the session 10.
SESSION 11, 12. Coaching - Sessions NOT in class -- instead, teams should meet me in my office in
Pinar 7 (1 st floor, take the elevator, turn right) at a scheduled time (TBA during the course).
The purpose of the first coaching session is to provide each of the teams with the feedback on the
Feasibility Study handed out in Session 10.
SESSION 13. Business plan - Key Concepts
Required readings:
Questions preparation
Case study for class -
How to write a great business plan (HBR reprint # 97409)
The top ten lies of entrepreneurs (HBR reprint # F0101 B
What is the purpose of the business plan?
What makes an effective business plan in our opinion?
HOC HBS case # 9-800-264
Questions preparation for case - How would you evaluate @Hoc's business written document think about the quantit
1
1

information, structure, arguments, etc.)
How would you evaluate @Hoc's business plan in terms of opportunity, context, people and the deal they're proposing?
Would you invest in the business?
SESSION 14. Panel of Entrepreneurs. Location TBA
SESSION 15. Business Plan- Business Model Analysis
-
Note on business model analysis for the entrepreneur
(HBS # 9-802-048)
Required readings
-
Why business models matter (HBR reprint # 9985)
-
Questions for class
- preparation
-
-
What is a business model?
What are the critical aspects of business model analysis?
How is a business models different from strategy?
What makes a good business model?
Case Study
-
@HOC continued
-
What do you think of @Hoc's business model?
-
How does it hold up in the narrative and numbers tests?
Questions for
Case Study case
-
(please take a deeper look into the assumptions of the
SESSION 16. Business Model Adaptation preparation business model and financials presented)
-
Zip Car
-
- made
-
What is the business model, and how has it changed from
Questions preparation for case comfort or concern? Why?
December 1999 and May 2000?
-
- operating results?
-
What do the data from September say about how the business model is playing out in practice? Does the data give you
What actions should Chase take as a result of September
What is the strongest argument Chase should make to a potential investor about the attractiveness of the venture? What,
SPECIFICALL Y, should the elevator pitch be on the Springboard forum? Be ready to make the pitch.
SESSION 17, 18. Coaching - Sessions NOT in class
Instead, teams should meet me in my office in Pinar 7 (1 st floor, take the elevator) at a scheduled time (TBA during the course).
Similar to our first coaching session, I will meet with each group for a period of about 30 minutes.
Before our meeting, each group is expected to prepare (and bring to the meeting) a brief progress report that expands the feasibility document elaborated during our first coaching session. Also, groups need to prepare the agenda of the meeting, indicating what themes they want to stress when discussing the team's progress on the project, and how the professor can help them out.
Please make sure to write a) name of the project, b) team number, and c) all team members' names on the documents you bring to the meeting.
1
2

SESSION 19. Sources of Financing and Deal Terms
-
Venture capital negotiations: VC vs. Entrepreneur
(HBS note 9-800-170)
Required readings
Questions for
-
Bootstrap finance: The art of start-ups (HBR reprint # class
-
92601)
-
What are the different financing options new venture?
Which ones are appropriate and when? available for a
-
What considerations should one make in selecting among preparation financing options?
- ventures? How and why do valuations vary?
-
What are the challenges associated with valuing new
TBA (will be distributed to groups a week before class)
Case study
- Role-Play supplement (will be distributed to groups before class)
-
Evaluate the opportunity for Terracycle
Questions for case
-
Evaluate Tom's efforts to date preparation
-
Read the guidelines and supplement for your group's role
Required readings and Neqotiation (Ch 14,447-464):
Case study
-
Valhalla (9-805-033)
-
Should Art Marks vote to make an investment in Telco
Exchange? What valuation do you think is appropriate?
-
Based on the information in the investment memo, what
Questions for case do you think are the top 3 risks facing Telco Exchange? preparation
SESSION 21. Venture Development: Early-Stage Issues
- What is your assessment of Valhalla's due diligence process? In your opinion what is the most significant benefit of the process? What set of risks does it present?
Case study
Questions for preparation
-
EINK - Financing Growth (HBR 9-800-252 )
-
- case
-
What is the nature of the opportunity confronting E Ink?
What should Iuliano & team do?
What do you think of their 3-stage approach to achieving their long-term goal? (Please develop your thinking from three
1
3

SESSIONS 23, 24. Coaching - Sessions NOT in class -- instead, teams should meet me in my office in Pinar 7 (1 st floor, take the elevator) at a scheduled time (TBA during the course).
This is our last formal coaching session. Accordingly, by now you should have prepared the overall structure of the plan, have most of the research and analyses completed, and have a good idea of the "missing parts". You are expected to come with specific questions or concerns that remain to be solved to refine your business plan and make it consistent and concise. Again, you are expected to bring a progress report, set the agenda, clearly indicating what themes 1 topics 1 questions 1 queries you have, and how the professor can add value to you by answering them or guiding you through them.

SESSION 25. Venture Development: Issues of Maintaining Growth
Required readings
Case stud
Questions preparation for
Identify the innovations-across the consumption chain-case - leveraged by TelePizza
Identify the important "people" factors contributing to the success of TelePizza
Evaluate the merits of the various growth opportunities on the horizon. Which would ou su ort? Wh ?
SESSION 26 Corporate Venturing
-
Required readings
-
Kawasaki, G.: The art of the start (p.19 - 25)
Garvin, D.A. 2004. What every CEO should know about creatlnu new businesses. Harvard Business Review, 82(7/8): 6p.
- How is an intrapreneur different than an entrepreneur?
Questions for class - preparation
What are the differences 1 positive or negative 1 in the process of developing a meeting within a corporate environment as opposed to independently?
The Dow Chemical company and internal entrepreneurship
Case study
(IMD-3-1117)
Who is the genesis of the e-Epoxy project?
Questions for
- case
-
If you were a member of e-Epoxy Leadership Team, would preparation
DELIVERABLE: In order to give you time to incorporate feedback from the Business Plan presentation session, the Business Plan document is due no later than SEVEN days after your presentation. Please realize that you can still hand it in any time after your presentation but no later than the deadline. Oral feedback is available to all groups in the professor's office, by appointment and with the presence of the whole group.
1
4

HAN A
Contact
MILANOV, Ph.D. e-mail: Hana.Milanov@ie.edu
Experience
Hana Milanov is a Professor of Entrepreneurship at IE Business School's. Her research bridges themes in entrepreneurship and strategy through a special interest in social networks. Specifically, she explores how entrepreneurs can efficiently enter industry networks, the uncertainties surrounding the formation of new alliances, as well as the mechanisms through which entrepreneurs can position themselves in the network in order to benefit most from privileged access to various resources.
Hana's work was published in top journals (Journal of Business Venturing and Frontiers of Entrepreneurship
Research), and presented in some of the most prestigious conferences in the fields of Entrepreneurship and
Strategy (Babson-College Entrepreneurship Research Conferences, Academy of Management Annual Meetings and Strategic Management Society Conference among others). Hana is also passionate about teaching, and believes that experiences from research and teaching complement each other. Relying on a diverse set of teaching resources, she encourages a discussion-based learning experience with the final goal of developing students' critical skills and new perspectives on the course material.
Academic Background
PhD in Entrepreneurship and Strategy, Kelley School of Business, Indiana University, Bloomington, IN, USA
Master of Science in Management, Kelley School of Business, Indiana University, Bloomington, IN, USA 2008
Harvard University, European Entrepreneurship Consortium for Participative Centered Learning. 2002 Central
European Leadership Institute (CEll) certificate. George Washington University in Zagreb, Croatia
Academic and Teaching Experience
Assistant Professor of Entrepreneurship, IE Business School, 2007 - present
Associate Instructor and Research Assistant, Indiana University. 2003-2007
Junior Research Assistant at the Institute of Economics Zagreb, Croatia. 2002 - 2006
Teaching Assistant at the Faculty of Economics, Zagreb, Croatia. 2001 - 2002
.- - - -
Can formato: Numeraci6n y virietas