Entrepreneurship—MAN 4802



New Venture Creation MGT 320: Syllabus Fall 2009

Tuesdays and Thursdays – Miriam Hall, Room 213

|Professor: Diane M. Sullivan, Ph.D. |Office Hours: Tuesday and Thursday |

|Office location: Miriam Hall, room 702 |1:00pm-2:45pm, and by appointment |

|Phone: 937-229-3705 | |

|Email: sullivdi@notes.udayton.edu | |

|Website: |

Objective

This course is intended to provide the student with the basic knowledge necessary to create new business ventures and to innovate within existing companies. Some goals of the course include:

1. Learn decision-making tools that can help entrepreneurs identify and develop new venture opportunities

2. Learn the importance of innovation, market research, feasibility analyses, and planning for product/service concepts

3. Learn the basics of formulating a business plan

4. Understand how to manage a new and growing business venture

5. Understand entrepreneurship as it aligns with the Mission of the UD SBA: The School of Business Administration is a learning community committed in the Marianist tradition to educating the whole person and to connecting learning and scholarship with leadership and service in an innovative business curriculum designed to prepare students for successful careers in the contemporary business environment.

Text:

Barringer, B.R. and Ireland, R.D. (2008). Entrepreneurship: Successfully Launching New Ventures. [2nd edition]. Pearson Prentice Hall: Upper Saddle River: NJ. (ISBN: 0-13-224057-2)

Article Readings for fall 2009:

• Innovation is the secret to bringing good old things some new life (2007). Wall Street Journal. January 11, 2007, B6.

• Pagliarini, R. (2006). What is an elevator pitch? American Venture Magazine, June, 31.

Grades are comprised of:

|Assignments |Point Value |Due Date |

|Individual Assignments | | |

|Elevator Pitch |100 |September 17, 2009, Thurs. |

|Networking Report |100 |Within one week after attending event |

|Exam #1 (Ch. 1-3, 5, articles, in-class material) |100 |October 20, 2009, Tues. |

|Final Exam (Ch. 6, 9, 7, 4, articles, in-class material) |100 |3:00 class, Fri., Dec. 18th from 12:20pm – 2:10pm |

| | |4:30 class, Tues., Dec. 15th from 4:30pm – 6:20pm |

|Team Assignments | | |

|Team Assignment Checkpoints (CP) |50 |CP #1 (10-pts): Tues., 13Sept 29th (All Teams) |

| | |CP #2 (10-pts): Thurs., Oct 22nd (Teams 1 & 2) |

| | |Tues., Oct 27th (Teams 3 & 4) |

| | |CP #3 (10-pts): Thurs., Nov. 5th (All Teams) |

| | |CP #4 (10-pts): Tues., Nov. 17th (Teams 3 & 4) |

| | |Thurs., Nov. 19th (Teams 1 & 2) |

| | |CP #5 (10-pts): Tues., Nov. 24th (All Teams) |

|Teamwork Peer Evaluation Assessment |20 |Due via email by the day the team presents |

|Team Feasibility Analysis Presentation |130 |December 1, 2009 (Tues.): Teams 1 & 2 |

| | |December 3, 2009 (Thurs.): Teams 3 & 4 |

|Total Possible Points (individual & team): |600 | |

➢ Grading

The plus/minus system will be used whereby grades will be distributed according to the following schedule:

Out of 600 Points:

|Grade |High Range |Low Range |Percentage in Course|GPA |

|A |= |600 |564 |94 – 100 % |4.00 |

|A- |= |563 |540 |90 – 93 % |3.67 |

|B+ |= |539 |522 |87 – 89 % |3.34 |

|B |= |521 |504 |84 – 86 % |3.00 |

|B- |= |503 |480 |80 – 83 % |2.67 |

|C+ |= |479 |462 |77 – 79 % |2.34 |

|C |= |461 |444 |74 – 76 % |2.00 |

|C- |= |443 |420 |70 – 73 % |1.67 |

|D |= |419 |360 |60 – 69 % |1.00 |

|F |= |359 |0 |< 60 % |0.00 |

➢ Performance Standard for Grading

➢ Many of you have either already begun your transition period from being a student to a professional or you are planning to in the near future. As such, the quality of the work you complete should be that of a professional.

➢ The following will be used in grading your work and in assigning your final grade for the course.

➢ A = Outstanding: A student who consistently demonstrates a nuanced understanding of material, engages in high quality participation/preparedness, exhibits excellent team management abilities, generates deliverables that demonstrate superior abilities, etc.

➢ B = Above Average: A student who consistently demonstrates above average understanding of the material, engages in participation demonstrating regular preparation, works well in groups, turns in thoughtful, well-prepared, high-quality deliverables, etc. May demonstrate sporadic “outstanding” work.

➢ C = Average: A student who demonstrates an understanding of the material, comes to class most of the time and participates, is usually prepared, gets along in groups, provides a positive contribution to team assignments, and turns in deliverables of appropriate professional quality.

➢ D = Below Average: A student who does not fully understand the material, misses class and/or fails to participate regularly, doesn’t prepare for class regularly, gets along in groups and does a fair share but the quality may not meet group members’ expectations, puts deliverables together at the last minute, etc.

➢ F = Failure: A student who has an inadequate understanding of some or all of the material, misses class, does not participate, does not turn in all deliverables, and/or does not complete team assignments.

➢ Attendance and Class Participation

➢ Attendance, advanced preparation, active preparation and contribution are vital to your career success, particularly within entrepreneurship. It is also vital to an effective learning environment. No set weight is allocated to this component of the course. However, your instructor, at her discretion, will use this component to revise your overall grade for this course—this may raise or lower your grade. Pop quizzes may periodically be given to help in assessing preparation.

➢ Throughout the semester I will evaluate the adequacy your individual class participation. Evaluations will primarily be based on the frequency and quality of your contributions to in-class discussions as well as your contributions during in-class exercises (both individual and team-based). If individual class contributions are not deemed adequate (e.g., if you never speak up in class) or value-adding to the class discussions and in-class projects (e.g., your contributions must be meaningful to the topics under discussion), your overall final grade can be increased or decreased. These evaluations will occur on an ongoing basis and a final evaluation regarding each student’s semester-long participation quality will be made at the end of the semester.

➢ A few notes on class contributions: The assessment of contribution will be based first on the quality and second on the quantity of your participation. Further, the extent of both attributes will be solely determined by the instructor. While much of the focus of class discussions is the application of analytical frameworks/tools to guide entrepreneurial decisions, any comments adding to the classes’ understanding of the issues, cases, firms, entrepreneurial topics, etc. are encouraged. Comments reflecting thorough preparation which extend the class discussion can positively affect your grade. Conversely, “off-the-cuff” and non-value adding contributions will negatively affect your grade.

➢ What is a contribution?

➢ Raising and answering substantive and relevant questions

➢ Sharing relevant ideas, observations, and personal experiences

➢ Generating potential solutions

➢ Relating/synthesizing ideas of others to increase everyone’s understanding of a concept

➢ Pointing out relationships to earlier discussions

➢ Please note that criticism of others’ ideas/comments without substantive recommendations or alternatives is not considered a contribution

Other Policies

➢ Electronic Devices

1. No electronic devices are to be used in the classroom (e.g., cell phones, PDAs, laptops, etc.).

2. Throughout the semester, there are certain designated in-class workshop days where a laptop may be used in class. These days are listed on the itinerary.

3. A note on computer requirements for this course: This course requires the use of a notebook computer outside of class that complies with the hardware specifications that were communicated to you by the Admissions Office. This course will require your use of the software applications in the Microsoft Office suite. It is your responsibility to ensure you have a working computer with the required software installed and functional for this course. Details regarding your technical support options have been communicated to you by UDit. Training resources for using UD software can be found at .

➢ Academic Integrity

1. Academic dishonesty will not be tolerated. This is a policy that I take very seriously. If cheating, plagiarism, or academic dishonesty of any kind occurs, the offender will be automatically dismissed from the course with a failing grade.

2. The University Bulletin specifies what constitutes academic dishonesty, so I suggest that you read it. For example, beyond those types of dishonesty discussed in point one in this section, academic dishonesty also involves enabling others to cheat. That is, if you “lend an assignment” to someone, and they copy it (or just portions of it), you will receive the same penalty as they do. It doesn’t matter if you tell them not to copy, if they do so anyway, you share liability with them. If it is a group assignment, I use my judgment to decide what to do, but everyone within the group can receive the same grade.

3. With regard to citing references that you have used within the body of your work, you must cite all sources. Anything that is cut and pasted should be included in quotes and cited in your bibliography. Do not excessively use direct quotes, either. Be sure to paraphrase if direct quoting seems excessive. If you are unclear of what to cite or not, contact me for clarification before the assignment is due.

4. For any emails sent during the semester, I will use the University’s Lotus Notes email system and the corresponding email addresses for the members of the class.

➢ Classroom Professionalism

1. Always be respectful of others in the class (professor and students); their opinions and comments.

2. Respect extends beyond the classroom. The content of any emails, group meetings, online chat meetings, etc., should be carefully thought out. Please be respectful of each other and the professor, including your electronic transmittals. This is a formal business course and I expect you to conduct yourselves as business people inside and outside of the classroom, including correspondence.

3. The professor reserves the right to alter the syllabus, itinerary, or class assignments at any time.

4. Any behavior deemed by the professor as unprofessional, disrespectful, inappropriate, and/or rude will result in up to a 20% reduction in your final grade.

New Venture Creation MGT 320

Course Outline for Fall 2009

Readings and assignments are due on the day noted on this itinerary. Please come prepared to discuss the readings assigned and with the downloaded slides from the course website. Changes can occur to maximize learning.

|Class Date |Day |Topics |Reading and Assignments Due |

|August 27 |Thursday |*Classes Begin* | |

| | |Course Introduction | |

| | |Assignment Discussion | |

|September 1 |Tuesday |Introduction to Entrepreneurship & Review |Chapter 1 |

| | |Why entrepreneurship? Why now? Who is an entrepreneur? What| |

| | |types of start-ups do they found? | |

|September 3 |Thursday |Recognizing Opportunities and Generating Ideas Day #1 |Article Reading: Innovation is the secret to bringing |

| | | |good old things some new life |

| | | |Chapter 2 |

|September 8 |Tuesday |The “Art” of the Elevator Pitch |Article Reading Assignment(s) Due: Author: Robert |

| | | |Pagliarini |

|September 10 |Thursday |Recognizing Opportunities and Generating Ideas Day #2 |Chapter 2 |

| | |The value of networking | |

|September 15 |Tuesday |Product/Service Feasibility Analysis Day #3 | |

| | |The case of IDEO | |

|September 17 |Thursday |Elevator Pitch #1, Class selection of team assignment |Individual Assignment Due: One-minute elevator pitch |

| | |businesses, and team formation |(100-points) |

|September 22 |Tuesday |Product/Service Feasibility Analyses Day #1 |Chapter 3 |

|September 24 |Thursday |Product/Service Feasibility Analysis Day #2 | |

| | |Conducting Primary Research | |

|September 29 |Tuesday |Feasibility Analysis Workshop Day |Team Checkpoint #1 (10-pts) |

| | | |All Teams |

|October 1 |Thursday |Industry, Competitor, & Market Feasibility Analysis Day #1 |Chapter 5 |

| | |Is our venture’s industry attractive? | |

|October 6 |Tuesday |Industry, Competitor, & Market Feasibility Analysis Day #2 |Chapter 5 |

| | |Industry Structures; Competitive Analysis Grids | |

|October 8 |Thursday |Mid-term Break No Class |

|October 13 |Tuesday |Exam #1 Review | |

|October 15 |Thursday |Team in-class Exercise |Team in-class Exercise: Emerging Industry New Product |

| | | |Development Task |

|October 20 |Tuesday |Exam #1 |Individual Assignment: First exam (100-points) |

| | |(Chapters 1-3, 5, articles, in-class material) | |

|October 22 |Thursday |Feasibility Analysis Workshop Day |Team Checkpoint #2 (10-pts) |

| | | |Teams #1 and #2 |

|October 27 |Tuesday |Feasibility Analysis Workshop Day |Team Checkpoint #2 (10-pts) |

| | | |Teams #3 and #4 |

|October 29 |Thursday |Organizational Feasibility Analysis Day #1 |Chapter 6 |

| | |The Business Model and Organizing the Venture to Create the | |

| | |Most Value | |

|November 3 |Tuesday |Organizational Feasibility Analysis Day #2 |Chapter 6 |

| | |The Business Model and Sustaining a Competitive Advantage in | |

| | |the Marketplace | |

| | |How Firm Resources can Help to Sustain a Competitive | |

| | |Advantage | |

|November 5 |Thursday |Feasibility Analysis Workshop Day |Team Checkpoint #3 (10-pts) |

| | | |All Teams |

|November 10 |Tuesday |Organizational Feasibility Analysis Day #3 |Chapter 9 |

| | |The Importance of the New Venture Team | |

|November 12 |Thursday |Ethical and Legal Issues Associated with Founding New |Chapter 7 |

| | |Ventures & The Business Plan |Chapter 4 |

|November 17 |Tuesday |Feasibility Analysis Workshop Day |Team Checkpoint #4 (10-pts) |

| | | |Teams #3 and #4 |

|November 19 |Thursday |Feasibility Analysis Workshop Day |Team Checkpoint #4 (10-pts) |

| | | |Teams #1 and #2 |

|November 24 |Tuesday |Feasibility Analysis Workshop Day |Team Checkpoint #5 (10-pts) |

| | | |All Teams |

|November 26 |Thursday |* Thanksgiving Break, No Classes * |

|December 1 |Tuesday |Teams #1 and #2 Feasibility Analysis Presentation and Peer |Team Assignment: Feasibility Analysis Presentations |

| | |Evaluation Day |(130-pts) and Peer Evaluations due (20-points) |

|December 3 |Thursday |Teams #3 and #4 Feasibility Analysis Presentation and Peer |Team Assignment: Feasibility Analysis Presentations |

| | |Evaluation Day |(130-pts) and Peer Evaluations due (20-points) |

|December 8 |Tuesday |* Feast of the Immaculate Conception and Christmas on Campus, No Classes* |

|December 10 |Thursday |Final Exam Review | |

|Final Exam (100-points) |3:00 – 4:15pm class, final exam is Friday, December 18th from 12:20pm-2:10pm |

|(Chapters 6, 9, 7, 4, articles, and in-class material) |4:30 – 5:45pm class, final exam is Tuesday, December 15th from 4:30pm – 6:20pm |

New Venture Management: Individual Assignments

Assignment Name: Networking Experience Report

Assignment Type: Individual Assignment

Points: 100-points

Due Date: Due within one week after attending the event(s)

Overview

Each student must attend a networking event throughout the semester and submit a written report on the experience. Specifically, each student will attend at least one business meeting such as a chamber of commerce function, i-Zone event, EATT luncheon, Walk the Talk luncheon, or other networking meeting (e.g., event identified in the Dayton Business Journal, eWomenNetwork event, etc.), and then complete a written report on the experience.

Assignment Specifics

You may attend an event as a team or in small groups, but each student is to individually practice networking with five different people this semester. None of these can be your fellow students. You will need to collect 5 different business cards to use in your report. If you do not, then you must attend additional events until you have collected a total of 5 business cards. Note: don’t procrastinate on this; get started early in the term!

Among other avenues, you can identify a business networking event in the Dayton Business Journal or on one of the following websites:

•

•

•

•

Before Attending the Event

Submit an event announcement, brochure, or email with event information to Dr. Sullivan to obtain approval to use the event for the Networking assignment. Be sure to get my initials on the announcement or a confirmation via email, and keep it to attach to your Networking Experience Report.

Preparation:

• Obtain Business Cards – It is highly suggested that you obtain your own business cards before you attend a networking event. (cards are free, pay S&H only).

• Choose Proper Business Attire: When you register ask about the typical attire.

• Know Information About the Event – event purpose, location, time to arrive, parking, and cost. Ask if there is a discount for UD students.

• Know about Key People Attending the Event – Do some research ahead of time.

• Practice Handshake – firm, use whole hand (not just fingers).

• Other Preparation Tips:

• Read the newspaper on the day of the event so you have something interesting to discuss.

• Plan What to Say – develop a “30-Second Elevator Speech” about yourself and why you are attending the event. While you are likely to change what you actually say, you need to be prepared to say something intelligent. This will also help reduce nervousness.

• Remember you represent UD, the School of Business, and yourself as a business person. It is extremely important that you are professional and polite. This is a heavy responsibility; take it seriously.

During the Event:

• Name Tag: Write your name per the convention of the event. If you don’t know, ask someone

• Payment Receipt: Keep for tax purposes and for proof you attended this event

• Be aware of your personal safety just as you would be at any other organizational meeting

After the Event:

• Thank all sponsors and send thank you notes to event leaders - call, email, or send note.

• Write a report no more than 10 pages (double-spaced) in length that uses the content outline below.

Written Report Outline

Please follow the outline below for your report. Use the outline to organize the contents of your paper. Be sure to use class terminology (e.g., specifically networking concepts) as you describe your experience.

1. Include a cover sheet

2. Provide a brief description of the event (e.g., event name, date, time, and location of event, why you chose to attend this event, advertised price, and the price you actually paid, etc.)

3. Elevator Speech

• What did you plan to say? Include your prepared ice-breaker speech in the content of your paper.

• What did you actually end up saying? Be specific and include excerpts from conversations.

3. What Was Most Difficult

• Discuss concerns you had before the event and what was difficult once you arrived.

4. What Was Easier Than You Expected

• Discuss what went better than you thought and if you had any pleasant surprises.

5. Information, Leads, and Referrals Obtained

• Describe any important information you obtained as a result of attending the event (e.g., career, internship opportunities, research about your team’s business, etc.).

6. Importance of Networking

• Ask some of the attendees at the event(s) what networking as meant to them and what a “good” network looks like for them (e.g., what would their ideal network look like—of whom would it be composed?).

• Ask for specific examples of if and how networking has helped them (both formal networking at networking events and informal networking with friends and family).

• Discuss what you thought of networking before the event and what you think after the event.

• Discuss what role you expect networking to play in your career.

7. Appendices – All of these documents must be included. .

• Copy of event approval with Dr. Sullivan’s initials/email confirmation

• Photocopy of at least 5 business cards you received from at least 5 business people.

Format and Cautions

• Use 12-point Times New Roman font

• Double space your work

• Text should be printed on only one side of the paper

• Use headings corresponding to the above outlined sections (e.g., description of event, elevator speech, etc.)

• Insert page numbers within your paper

• Staple your paper and the supporting documents together

• Write in complete sentences

• Be cautious of your writing skills. Your writing skills must be suitable for your report to be submitted to a lender or investor. Proofread your paper to ensure there are no problems with your writing skills.

• Papers are due within one week after you have attended your event. In the case that multiple events are attended, the paper is due within one week after the last event is attended. Late papers will NOT be accepted.

• Compare your content and format with the instructions. Points can be lost for not following directions.

Assignment Name: Elevator Pitch #1

Assignment Type: Individual Assignment

Points: 100-points

Due Date: September 17, 2009, Thursday

• NOTE: The following is basic assignment information. For details as to what tasks are to be completed for the assignment, see the elevator pitch assignment handout.

For this assignment, identify an opportunity for a new venture and conduct a one-minute elevator pitch of that venture in front of the class. The business must be a for-profit business and can be a salary-substitute or a growth-oriented business. The venture is not to be a micro business. The new venture elevator pitches conducted by the class are very important as four of them will become the topic of your group feasibility projects. Consequently, carefully consider and prepare these presentations. After everyone in class has completed the elevator pitches, members of the class will vote and select up to four that seem the most promising upon initial inspection. Teams will then be formed around the selected business opportunities. In addition to the verbal pitch students will prepare a written document detailing how the opportunity meets the criteria of an opportunity.

There are some limitations on the types of businesses that can be topics for new venture pitches. Ideas must be ethical, moral, and stretch you as a student. It is easy for students to stay within their “comfort zone”, and gravitate towards certain ideas. Too frequently that limits the learning value of opportunity exploration. Pitches too closely conforming to those listed below will receive a 10% grade reduction. If you are not sure is an idea is appropriate, ask Dr. Sullivan.

o Ethics and morality:

• Businesses must fit with the Marianist Values and mission (e.g., no sweatshops, etc.)

• Alcohol related ventures: Any ventures requiring a liquor license are unacceptable.

• Scams: “pyramid schemes”, “work at home”, etc. are unacceptable

o Ideas that have been done too many times and are not acceptable this year include:

• T-shirt business

• Bed & breakfast

• Campus video store

• Student housing re-hab

• Grocery delivery businesses

• Campus coupons/books, etc.

• On-line retailer of student products

• Auto detailing, mobile car service

• Pet day care

• Lawn service businesses

• Snow removal businesses

• Convenience stores

• Fast Food restaurants

* Note: The elevator pitch competition is a "public" event, and we do not require attendees to sign Non-Disclosure Agreements (NDAs). As a result, any ideas you present could be appropriated by an attendee, and they could pursue the idea without giving you any credit or compensation. So if you are planning to pursue this idea in the future, you should consider the potential risks of appropriation.

New Venture Creation: Team Presentation Assignment

Overview

At the beginning of the semester the class will be broken up into four teams. During the semester, the team will study the feasibility of a new venture opportunity.

Feasibility analysis is the process of determining whether a business idea is viable. It is a preliminary evaluation of a business idea, conducted to assess if the idea is worth pursuing. It takes the guesswork out of business launch and provides a more secure notion that a business idea is viable. Entrepreneurs often underestimate the competition or overestimate their personal chances for success. Feasibility studies should be conducted after opportunity recognition and before completing a full business plan.

On September 17, 2009 students will conduct one-minute elevator pitches of an entrepreneurial opportunity they identified. Then, the class will vote on the four most viable opportunities[1]. Teams will be formed around the selected opportunities. Over the semester, each team will complete three feasibility analysis studies (product/ service, industry/market/competitive, and organizational[2]) and present their findings to the class in a 30-minute presentation. Students will self-select their teams on September 17, 2009. In addition, teams are responsible for completing presentation analyses/tasks over the semester. To help teams manage their time, there are five teamwork checkpoints that teams must meet over the semester (see last page of syllabus). At each checkpoint, teams are to have designated tasks completed and Dr. Sullivan will review the team’s progress on the checkpoint due date. Team checkpoint days will also be in-class feasibility analysis workshop days where teams can work on their projects.

If during the course of the analyses the team determines the idea is not feasible they must make an honest attempt to make it feasible. Teams who determine their idea is not feasible will be asked to provide evidence that the team has tried to make it feasible (e.g., turn in additional research, different written descriptions of the initial idea, etc.). Because the objective of this assignment is learn to assess the feasibility of a potential business opportunity, grades will not be hurt if the concept is truly not feasible at the end of the semester as long as evidence has been provided.

A Note on Working in Teams

Firms are increasingly being started and run by groups of individuals as opposed to solo individuals. Further, organizations are increasingly using project teams as they are better at executing organizational tasks. One vital assumption relative to the use of teams in business is that all members perform well and execute tasks appropriately and timely. Members who do not work up to the team’s/firm’s standards are often fired or reassigned to other duties. To align the team project to the real-life business world, the following policies will apply to teamwork.

If a team member’s lack of contribution is hurting the team’s progress that member may be fired by a unanimous vote of the team members. The fired member will then complete all remaining team assignments on his/her own. The presentation will be replaced by individual written analyses. The assignments are due the same day as presentation. A total of 20 points will be deducted for every 24 hour period these assignments are late.

Alternatively, if an individual determines that he/she is unable to work in their team, they may either: 1) Try to find another team to join. The new team must unanimously vote the individual on to the team. 2) The member may complete all remaining team assignments on his/her own via written analyses. These analyses are due the same date as the presentation. A total of 20 points will be deducted for every 24-hour period assignments are late. Individuals who leave teams will receive grades earned on their team’s assignment during the time they were a part of the group. Any team member changes throughout the semester must be reported to Dr. Sullivan.

Peer Evaluations (20-pts): Students must complete an evaluation each team member’s contribution, due to Dr. Sullivan via email on the day the team presents. The evaluations are worth 20-points of individual team assignment grades. The peer evaluation form is located on my website (academic.udayton.edu/DianeSullivan).

Assignment Name: Team Presentation

Assignment Type: Team Assignment

Points: 150-points (130-pts for presentation, 20-pts for peer evaluation)

Due Date: Teams #1 and #2 Present on Tuesday, December 1, 2009

Teams #3 and #4 Present on Thursday, December 3, 2009

• NOTE: The following is basic presentation information. For details as to what tasks are to be completed for the assignment, see the online presentation handout (academic.udayton.edu/DianeSullivan).

General Team Presentation Information:

• In class we will discuss feasibility analyses entrepreneurs should conduct to determine if the business is viable. Each team will conduct three feasibility analyses on their business opportunity. As we study each feasibility component in class, teams should work on that component of their presentation.

• At the end of the semester, teams will present the three feasibility analyses conducted on their opportunity and synthesize this information to come up with a final feasibility conclusion for the venture. As of the conclusion of the presentation, the team should conclude if the business is feasible.

• If it is not feasible, discuss analyses leading to this conclusion and actions taken to try to make it feasible.

• Below is a brief description of the three feasibility analyses that will be completed.

• Failure to discuss all topics listed below will result in a reduction in grade.

• Follow the instructions provided and if you have any questions, contact the professor.

Team Presentation Format:

• The entire presentation must be completed within 25 to 30 minutes. Teams will be stopped at 30 minutes.

• PowerPoint slides are due to Dr. Sullivan before the presentation, printed 3-per page, on one-side of the paper.

• All team members must speak during the presentation.

• Late presentations and/or documents will not be accepted and a zero will be given for the assignment.

Feasibility Study #1 Name: Product/Service Feasibility Analysis Study

Purpose

Provide an assessment of 1) the technical feasibility of creating/delivering the offering and 2) the overall consumer appeal of the product/service being proposed. Refine the product/service relative to feedback received.

1. Conduct a concept statement evaluation

• Write a concept statement for the team’s business.

• Use the concept statement and the primary research skills learned in class (e.g., method and format), to collect initial feedback about the concept from 2 industry experts and 3 individuals in the target market.

• Conduct either surveys or interviews with the industry experts and target market participants

• Write a (survey) cover letter or (interview) cover story for the industry experts and the target market

• Write a survey/interview questions for the industry experts and target market participants

• Collect the data and modify the business according to the feedback

2. Conduct a concept test

• Develop an illustration of your business concept

• Use the illustration and the primary research skills learned in class (e.g., method and format), to collect feedback about the concept and the target market profile from at least 30 people in the target market.

• Conduct surveys with the target market participants

• Write a cover letter for target market participants

• Write a survey for the target market

• Collect data from at least 30 people and make final business modifications according to the feedback

3. Solidify the profile of your target market (e.g., demographics, psychographics, etc.)

• Using data obtained from the concept test survey, determine the profile of the market your firm will target

4. Assess the potential for intellectual property (IP) protection

• Determine if you would pursue any IP and see if others have already protected similar IP ().

Feasibility Study #2 Name: Industry/Market and Competitive Environment Feasibility Analysis

Purpose

Assess the overall appeal of the industry, market, and competition relative to the proposed business/product/service.

1. Determine the industry the venture will compete within as well as its main characteristics

2. Assess the attractiveness and structure of the industry within which the firm will compete:

• Assess the industry’s attractiveness by conducting a Porter’s Five Forces analysis

• Determine the structure of the industry within which the firm will compete and if you can capitalize on entrepreneurial opportunities present within that type of industry

3. Conduct a competitive analysis

• Identify the main direct and indirect competitors and their main characteristics

• Use a competitive analysis grid to assess any favorable firm attributes or detriments relative to competitors

Feasibility Study #3 Name: Organizational Feasibility Analysis

Purpose

Determine how the firm will be organized and if the firm has sufficient human resources/expertise and other resources necessary for success.

1. Develop a practical business model for the firm using Porter’s Value Chain model.

2. Assess the sufficiency of the expertise of the venture’ management team (e.g., the people in your group)

3. Determine additional human resources that need to be hired to make the venture concept work.

4. Conduct a VRIO analysis

• Evaluate tangible and intangible resources to determine the firm’s competitive and economic implications.

Documents to be turned in on the day the team presents

• General:

• Cover sheet

• PowerPoint slides out 3-slides per page—only print on one side of the page.

• Product/Service Feasibility Analysis documents include the following in the appendices

• Concept Statement Deliverables

• The concept statement

• Concept statement target market deliverables

• Concept statement cover letter/story (target market)

• Concept statement survey/interview (target market)

• Concept statement tabulated results (target market)

• Concept Statement industry expert deliverables

• Concept statement cover letter/story (industry expert)

• Concept statement survey/interview (industry expert)

• Concept statement tabulated results (industry expert)

• Concept Test Deliverables

• The concept test illustration

• Concept test target market deliverables

• Concept test cover letter (target market)

• Concept test survey (target market)

• Concept test tabulated results (target market)

• Organizational Feasibility Analysis documents to include the following in the appendices:

• Include each team member’s resume.

• Other documents:

• Be sure to include a bibliography of the sources that you used for research purposes.

Assignment Name: Team Assignment Checkpoints

Assignment Type: Team Assignments

Points: 50-points Total (10-points per Checkpoint)

Due Date: Ongoing throughout the semester, see due dates below and in the itinerary

To help teams manage their time and workload relative to the team presentation assignment, throughout the semester there will be five team presentation assignment checkpoints. At each checkpoint, in class, I will briefly visit each team to review the tasks completed by the team. If assignment components are not completed on the day of the designated checkpoint per the schedule below, teams will lose points. Each checkpoint is worth 10-points. Using the feedback received during the checkpoint, it is the team’s responsibility to correct any problems with the deliverables. The corrected deliverables will be included in the appendices of the presentation packet that the team will turn in on the day they present. The presentation assignment tasks are to be completed by the respective checkpoint dates relative to the following:

|Checkpoint |Due Date |Tasks to be Completed |

|Checkpoint #1 |All Teams: |Concept Statement Written |

|(10-points) |Tuesday, September 29, 2009 |Concept Statement Cover Letters Written |

| | |Concept Statement Surveys Written |

|Checkpoint #2 |Teams #1 and #2: |Concept Statement Data Collected and Results Tabulated |

|(10-points) |Thursday, October 22, 2009 |Concept Test Illustration Developed |

| | |Concept Test Cover Letter Written |

| | |Concept Test Survey Written |

| | |Intellectual Property Determination and Database Search |

| | |Completed |

|Checkpoint #2 |Teams #3 and #4: | |

|(10-points) |Tuesday, October 27, 2009 | |

|Checkpoint #3 |All Teams: |Concept Test Data Collected and Results Tabulated |

|(10-points) |Thursday, November 5, 2009 |Target Market Profile Solidified by Primary and Secondary Research |

| | |General Industry Information Compiled |

| | |Porter’s Five Forces Analysis Completed |

|Checkpoint #4 |Teams #3 and #4 |Competitive Analysis Grid and Competitive and Evaluation Completed |

|(10-points) |Tuesday, November 17, 2009 |Industry Structure Analysis Completed |

| | |Porter’s Value Chain Development Completed |

| | |Tangible and Intangible Resources Identified |

| | |VRIO Analysis Completed |

|Checkpoint #4 |Teams #1 and #2 | |

|(10-points) |Thursday, November 19, 2009 | |

|Checkpoint #5 |All Teams: |Team Member Resumes Compiled |

|(10-points) |Tuesday, November 24, 2009 |Founding Team Expertise Evaluation Completed |

| | |Future Human Resource Needs Evaluated |

| | |Rough Draft of PowerPoint Slides Developed |

| | |Appendix Documents Assembled (see page 12 of syllabus for list of |

| | |appendices) |

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[1] Should the class be unable to come to a consensus on the opportunities to be studied, Dr. Sullivan will act as the final say in the opportunities that will become the topics for the team projects.

[2] Note that the financial feasibility analysis topic is covered in the MGT 321, Financing Entrepreneurial Ventures course, and is thus not a part of this course.

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Be sure to do a good job on these sections.

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