Innovation and Entrepreneurship
Part 1: The Entrepreneurial Manager
Spring, 2011
授課教師： 郭瑞祥 Andy Guo (台大工商管理學系/商研所教授)
Room：Room 813, building 2, Management school
Email ： rsguo@ntu.edu.tw
Website：guo.ba.ntu.edu.tw
Course Descriptions
This course is about The Entrepreneurial Manager (TEM), and it is designed to
focus on the Entrepreneur as a manager and the processes and techniques he or she
uses to manage. In practice this means that in every case there is a person who must
make some decisions and take the necessary actions to implement those decisions.
There is a very important role in the course for analytical tools and conceptual
frameworks, but they are to be applied only to the extent that they help the manager
make good decisions and develop realistic action plans that can be implemented and
communicated to employees and investors.
The Entrepreneurial Manager Course is structured in three modules:
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Introduction: What is an entrepreneurial manager?
Fundamentals for the entrepreneurial manager
Managing the growing venture
Reference Book
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「Finding Fertile Ground」，by Scott Shane，Wharton School Publishing
Grading Policy
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Class participation 22%
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Case reports and group presentation 48%
Mid-term exam 30%
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Course Topics Overview
Date
Subject
Cases
Readings
Assign
Module 1：Entrepreneurial manager
2/25
Innovation and
Entrepreneurial
3/4
The discipline of innovation
Entrepreneurship
manager + guest speech
#1
#1: R&R
Module 2：Fundamentals for the entrepreneurial manager
3/11
3/18
3/25
Opportunity
BM for the entrepreneur
identification
Finding Fertile Ground
Ch.1,2,3
Finding Fertile Ground
Ch.4,5
Business model and
strategy
Access source of
Getting financing or funding
financing +guest speech
Finding Fertile Ground
Entrepreneurial team
4/1
#2: Zipcar
and management (1)
4/8
Ch.6,7
#3: E Ink
Entrepreneurial team
#2
#3
Building a new venture team
and management (2)
Finding Fertile Ground
+guest speech
Ch.8,9,10
Module 3：Managing the growing venture
4/15
Reward model
4/22
Mid-term case exam
#4: Nantucket
A note on valuation
Nectars
Questions entrepreneur must answer
#4
Course Contract
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Choose and fix your seat in classroom
Form your discussion group (6 students in each group)
Participate actively, both in the class and in the group
Complete the case assignments and readings before coming to the class
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Detailed Course Schedule
Module 1: Entrepreneurial manager
2/25
Innovation and Entrepreneurship
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3/4
Readings
 Drucker (2002) The discipline of innovation
Entrepreneurial manager + guest speech
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Case #1: R&R (HBS case 9-386-019)
 This case shows the means by which an experienced entrepreneur
can gain control over the necessary resources in order to lower the
fixed costs of business entry. It provides a mechanism for
discussing the role of experience, credibility, and contacts in the
development of a nonbusiness venture.
Case assignments:
 Each group prepare a two-page notes answering the following
questions:
1. What risks and obstacles had to be overcome in order to
pursue the opportunity successfully? How did Bob Reiss
accomplish this?
2. How much did Bob Reiss earn from this venture? How do you
account for his success?
3. Would this approach have worked for Parker Bros., or Milton
Bradley?
4. As a result of this success, what should Reiss do now?
In-class video: R&R
Module 2: Fundamentals for the entrepreneurial manager
3/11
Opportunity identification
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3/18
Readings:
 Hamermesh (2002) Business model analysis for the entrepreneur
 Finding Fertile Ground Ch. 1,2,3 (#1, #2, #3 group presentation)
Business model and strategy
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Readings:
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 Finding Fertile Ground Ch.4,5 (#4, #5 group presentation)
Case #2: Zipcar: Refining the business model (HBS case 9-803-096)
 Zipcar is a start-up organized around the idea of "sharing" car
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3/25
usage via a membership organization. This case describes several
iterations of the Zipcar business model and financial plan. These
iterations include a very early version and a version developed
just prior to the launch of the business, as well as data from the
first few months of operations. Students are called on to analyze
the underlying economics and business model for the venture and
to discover how these assumptions are holding up as the business
is actually rolled out.
Case assignments:
 Each group prepare a two-page notes answering the following
questions:
1. Download the Excel file from the web site. Complete the per
car economics and per subscriber economics in May. What are
the important drivers in the models?
2. What is the business model? Download the ppt file from the
web site. Supplement (A1) lists an analysis of the May
business plan. Use the September data (Exhibit 8b) and other
cost information to complete the actual performance analysis.
Supplements (A2) and (A3) are two templates. What do the
data from actual operations in September say about how the
business model is playing out in practice?
3. Supplement (B) lists a more detailed analysis of actual
performance by analyzing the “daily use” business model and
the “hourly use” business model separately. Complete the
analysis in Supplement (B). What implications can be obtained
from this analysis?
4. What actions should Chase take as a result of the September
operating results?
In-class video: Zipcar
Access source of financing + guest speech
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Readings:
 Barringer (2008) Getting financing or funding
 Finding Fertile Ground Ch.6,7 (#6, #7 group presentation)
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4/1
Entrepreneurial team and management (1)
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Case #3: E Ink: Financing growth (HBS case 9-800-252)
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4/8
E Ink is a high-technology start-up attempting to revolutionize
print communication through electronic ink displays. The
founders and top managers of this two-year-old firm are striving
to translate a technological breakthrough into a working prototype,
move from prototype to full-scale manufacturing, and maintain
market excitement about the company. At the same time, they are
dealing with a fundamental organizational concern: How to retain
E Ink's creativity, drive, and sense of fun while focusing the
company on growth and the demands of a first product.
Case discussion questions:
 Each group prepare a two-page notes answering the following
questions:
1. What is the nature of the opportunity confronting E Ink?
2. What do you think of their 3-stage approach to achieving
their long-term goal?
3. How much money should the company raise? From whom?
On what terms?
4. What should Iuliano and his management team do?
Entrepreneurial team and management (2) + guest speech
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Readings:
 Barringer (2008) Building a new venture team
 Finding Fertile Ground Ch.8,9,10 (#8, #9, #10 group presentation)
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Module 3: Managing the growing venture
4/15
Reward model
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4/22
Readings:
 Lerner (2002) A note on valuation in private equity setting
 Bhide (1996) The questions every entrepreneur must answer
Case #4: Nantucket Nectars (HBS case 9-898-171)
 The founders of Nantucket Nectars are trying to decide whether to
sell their company. The case describes how the founders started
the company and grew the Nantucket Nectars brand name.
Case assignments:
 Each group prepare a two-page notes answering the following
questions:
1. What are the pros and cons of remaining independent? Going
public? Selling the company?
2. How would they identify and deal with prospective buyers?
3. What is Nantucket Nectars worth? To whom? Why?
(Please read the note: “A note on valuation in private equity
setting,” and use Comparables and The Net Present Value
Method)
In-class video: Nantucket Nectars
Mid-term case exam
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The exam is an in-class and case-based written exam. Each student is
allowed to bring in one double-sided A4 personal notes.
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