ENTREPRENEURSHIP AND INNOVATION BUS 30a Spring Semester - 2010

CHARLES REED, JR. Co-Director, Asper Center for Global Entrepreneurship

Senior Lecturer in Entrepreneurship

INTERNATIONAL BUSINESS SCHOOL BRANDEIS UNIVERSITY

ENTREPRENEURSHIP AND INNOVATION BUS 30a Course Overview

The Entrepreneurship And Innovation course explores why, when and how to start and nurture a new business venture. The preponderance of courses at the graduate level in economics, finance and business prepare students to participate successfully in large enterprises and organizations. However, history shows that many students will at some point in their careers turn to participating in an entrepreneurial endeavor either by starting their own business or by participating in a management buyout of a part of their employer. This course attempts to develop the attitudes, skills and knowledge that will support that activity. There are two primary routes for successful ventures. One involves careful market research, well thought out business plans, extensive financial plans, full management teams and significant venture or other outside capital. The subsequent "business plan ventures" tend to be of significant size. Successful start-ups or buyouts following this route decorate the headlines of the business press. (Preparation and Presentation of a Business Plan are covered in Entrepreneurial Finance and Business Plans (BUS231Spring Term). A second route involves less formally planned and less resource intensive ventures. This is sometimes referred to as the "bootstrap approach". While the venture may turn out to be significant enterprises (Hewlett Packard, Calvin Klein and Microsoft come to mind) most do not become household words. Nonetheless, they can lead to significant work and a meaningful lifestyle. In total they contribute significantly to new job creation and development in the economy. The Entrepreneurship And Innovation course (BUS 30a) concentrates on the issues, ideas and approaches of successful "bootstrap" ventures, management buyouts and early stage operations. We concentrate on identifying and evaluating potential opportunities, determine various ways of defining and securing start up resources and sources of finance, create a positive corporate culture, create a sales and marketing force, hire talented people and manage cash. The course uses lectures, case discussions and outside speakers to introduce issues in both theory and practice.

Course Requirements This course will use a textbook and readings from other sources to introduce various issues and principles in a new venture. Case discussions will further explore the application of these principles. Regular preparation and contribution to class discussions is critical for both individual and group learning. We will each learn from others point of view, thoughts and experiences. And we each learn more by participating in the debate than by passive listening. To encourage preparation and participation, each class session will start with the cold calling on a student at random. Class discussions will be supplemented with outside speakers, i.e. successful entrepreneurs, lawyers, accountants, venture capitalists and bankers who work with start up companies. Attendance at the primary presentation of these speakers is a requirement of the course.

Grading Half the grade will be based on a students contribution to class discussion. The other half of the grade will be based on the mid-term and final examinations. If a student has a documented disability on record at Brandeis University and wish to have a reasonable accommodation made for you in this class please contact me immediately. Please keep in mind that reasonable accommodations are not provided retroactively. Honesty You are expected to be honest in all of your academic work. Instances of alleged dishonesty will be forwarded to the Office of Campus Life for possible referral to the Student Judicial System. Potential sanctions include Failure in the Course and Suspension from the University. If you have any questions about my expectations, please ask.

Appointments Prof. Reed is available for individual student meetings at mutually agreeable times and locations. If you need an appointment email CREEDJR40@comcast.net or call 617571-4873.

ENTREPRENEURSHIP AND INNOVATION SPRING TERM 2008 MATERIALS LIST

TEXT Timmons, Jeffrey A., Creating New Ventures, 8th Edition, Irwin/McgrawHill, ISBN 978-0-07-338155-8

From Harvard Business School Publishing: HBSP Case Numbers R & R, 386-019 Deaver Brown and Cross River, 9-394-042 Developing an Elevator Pitch, 9-802-222 How to Write a Great Business Plan, HBR Reprint 97409 Selling as a Systematic Process, 9-395-091 Thoughts on Business Plans, 9-897-101

ENTREPRENEURISM & INNOVATION BUS 30a 2009-COURSE OUTLINE

JAN 25

Introduction to the concepts of New Venture Creation course Read Ch 1 and Ch 2 in textbook New Venture Creation, 8th Edition, McGrall-Hill (Entrepreneurism) Read Guide to Case Analysis. Prepare to participate in a class discussion of the R & R case. Read Ch 3,4, 5 and Ch 6 in NVC. (Opportunity) Focus on the Quick Screen and Venture Opportunity Screening Guide Apply QS and VOSG to Jim Poss , Pp. 138 146 and be prepared to discuss the opportunity in class.

FEB 1

FEB 8

Feb 15 No Class Mid Term Break FEB 22 Read Ch 8 in NVC. (Business Plan) Read How to Write a Great Business Plan, HBR Reprint 97409. Read Thoughts on Business Plans, HBSP 9-897-101. Prepare Newland Medical Technologies, Pp. 296-304, to discuss in class. Read Selling as a Systematic Process, HBSP 9-395-091. Read Developing an Elevator Pitch, HBSP 9-802-222. Team with another student and prepare a product pitch for the strollers in Deaver Brown and Cross River, HBSP 9-394-042. Individually, Turn in an outline of an elevator pitch for DB & CR in class. MAR 8 Read Ch 9 in CNV. (Entrepreneurial Manager and Team) Prepare Maclean Palmer, Pp. 342-355, to discuss in class. Read Ch 11 in CNV. (Resource Requirements) Prepare Quick Lube Franchise Corp., Pp. 393-397, to discuss in class.

MAR 1

MAR 15

MIDTERM OUT DUE IN BY MARCH 22ND at START OF CLASS

MAR 22

MID-TERM DUE AT START OF CLASS! Read Ch 13 and Ch 14 in CNV. (Entrepreneurial Finance) Prepare Midwest Lighting, Pp. 435-444, to discuss in class. Read Ch 15 in CNV. (Structuring, Valuing, Negotiating) Read Ch 16 in CNV, (Debt Capital) Prepare Lightwave Technologies, Pp. 502-509, to discuss in class.

MAR 23

MARCH 29TH AND APRIL 5TH IS PASSOVER/SPRING RECESS NO CLASS Read Ch 17 in CNV (Managing Success or Not) Prepare Telephony Translations Pp. 578-590, to discuss in class. Read Ch 17 in CNV. (Family As Entrepreneur) Prepare Indulgence Spa Products, Pp. 614-625, to discuss in class. Read Ch 19 in CNV. (Harvesting) Prepare Optitech, Pp. 640-649, to discuss in class. Read Ch 9 in CNV. Take Ethics exercise, Part 1. Prepare to discuss role of ethical issues in Creating New Ventures. Summary.

APR 12

APR 19

APR 26

MAY 3