MGT 240 Introduction to the Entrepreneurial Experience ...



The University of North Carolina at Greensboro

Bryan School of Business and Economics

Department of Business Administration

MGT 240-01

Introduction to the Entrepreneurial Experience

Spring 2008

Instructor: Channelle D James PhD

Telephone: 336-334-3907

Office: 379 Bryan Building, UNCG

E-mail: cdjames2@uncg.edu

Introduction:

What does a trendy shopping center, a satellite dish, or even a Post It Note™ have to with economic development in your community or your personal career goals? They are all signs of entrepreneurship. In the Triad region and all over the country, citizens are pulling together their resources to build a viable, strong, sustainable and livable economy. We have all been encouraged by the changing global community to focus our attention on job creation, social responsibility, and innovation. In MGT 240 we will explore the idea of entrepreneurship from two perspectives.

• Creating, establishing and maintaining new business ventures.

• Viewing entrepreneurial thinking and development as a key employment skill.

Mgt 240 takes an interdisciplinary view of entrepreneurship. The theories and concepts used not only have a business foundation, but incorporate knowledge from many disciplines that uses entrepreneurship to serve clients or customers.

In your MGT 240 course we will see:

• How Entrepreneurship helps to rebuild an African Village or an Appalachian town.

• How an artisan incorporates entrepreneurship in the furtherance of their work.

• How a medical supplier realizes his dream of creating new technology that makes surgical processes more efficient.

• How a small natural food grocery store uses entrepreneurship to bring organic, nutritious foods to local customers.

• How a non- profit uses entrepreneurship to breathe new life into the community.

The course format for MGT 240 is simple. We will use cases, discussion boards, interviews, web technology, and research to deliver source content.

Course Requirements

Course Materials:

• Mullins J. (2003). The New Business Road Test: What Entrepreneurs and Executives Should Do Before Writing a Business Plan. London: Prentice Hall.

• Movie: (Can be rented from Blockbuster video or viewed at the University Teaching/Learning Center).

• Various individual articles supplied to students by the instructor.

• Cases Course Pack.

Course Objectives:

At the end of the course, successful MGT 240 students will be able to:

• Demonstrate an understanding of the entrepreneurial process and key concepts.

• Develop, practice and evaluate the student’s propensity for entrepreneurship.

• Practice innovation and creativity as a part of the entrepreneurial process.

• Understand an approach for identifying/analyzing ideas and opportunities in business.

• Prepare a venture concept plan that details the student’s research and analyses of an entrepreneurial venture.

• Present a “Pitch” that gains approval for an entrepreneurial idea.

Course Pedagogy/Methodology

A college course is a learning workshop where individuals can develop intellectual abilities and build a tool kit of resources for use in their personal, professional, and civic lives. My role as the instructor is one of a facilitator who is available to help course participants maximize the benefit of course materials and the activities that occur during the course. I will provide students with structure through the use of course materials and activities.

In MGT 240 I will use a variety of teaching techniques including lectures, cases, role plays, self-assessment instruments, homework assignments, group activities and exercises to help participants grasp course content. Each unit of course material is designed to help students gain a practical perspective of the entrepreneurial experience. Class exercises are designed to help the student gain hands-on experience: (1) identifying innovative ideas for an entrepreneurial venture and (2) converting those ideas into ventures that have the potential for success.

In order to get the most out of this learning experience, students should do the following:

• Read course material before online class meetings.

• Actively participate in and contribute to class discussions

• Examine and reexamine course materials and personal notes.

• Act as a productive and responsible team member during group assignments.

• Ask questions to stimulate course discussion and when further explanation is needed.

• Remain flexible when course plans change per the instructor.

Grading Policy:

|Activity |Format |Percentage |

| | | |

|Participation Grade |Individual |20% |

|Group Cases (3 ) |Team |20% |

|Entrepreneurial Interview |Individual |10% |

|Second Life Activities |Individual |20% |

|Personal Reflection (8) |Individual |10% |

|Final Project – Concept Paper/Competition |Team |20% |

| | |

|Grading Scale: | |

|A |100-90 |

|B |89.9- 80 |

|C |79.9-70 |

|D |69.9- 65 |

|F |64.9 and below |

Class Attendance

Students are expected to come to every class session for MGT240 ready to participate and learn. If you are not able to come to class please notify the instructor before class if possible. You are allowed three unexcused absences before your participation grade will be lowered. After that your participation grade will be reduced 10 points for every missed class.

Academic Integrity

Students are expected to abide by the UNCG Academic Integrity policy. Students may view the UNCG Academic Integrity policy on the University website. ()

Course Requirements

Participation

Both discussion and the exchange of ideas are important parts of MGT 240. Students are expected to attend every class and participate. Students will have a three week grace period in terms of course participation. This will give you time to get acquainted with other class members and to understand the how the course is designed. After the three week grace period each student is expected to participate in the class conversation or activity at least once every class. The instructor will keep a chart noting the participation of students while in class.

Group Case Studies

Case studies are a key element of this course. The cases have been selected to illustrate situations that are faced by entrepreneurs. Some are complex and will require considerable thought and analysis. The student is expected to draw his/her own conclusions, recommend a course of action, and be prepared to explain each decision during class discussions. Each student will also be assigned to a group. The group will write a response paper that answers questions related to the each case and outlines what the members of the group have learned after reviewing the case and related course readings. When writing up the case response, each group should write as if one person was responding to the case. Failure to participate effectively with your team will result in the reduction in your individual grade.

Entrepreneur Interview

Students will select an existing entrepreneurial venture and conduct an interview with the owner. The goal is to provide the student with insights about entrepreneurship not readily obtained from classroom experiences. Each student will visit the company to conduct the interview and observe how the venture operates. The company can be in any type of industry, must be at least three years old, and employ at least five people. The objective is to “drill” down into the company and gain an understanding of the entrepreneur and how he/she does business.

A report will be written that includes the following:

• A description of the entrepreneur’s background, motivation for starting the venture, and challenges in growing the business.

• An evaluation of the value proposition (target market, product/service description, and unique benefit).

• What makes the company successful (or not)? What are your recommendations for improvement?

• A discussion of how the findings of the interview apply or are meaningful from the student’s perspective. What has been learned about one’s potential to be an entrepreneur?

For more information please see Instructions for Entrepreneurs Interview in Blackboard under the Course Documents link.

Second Life Experience

The address for Second Life is .

I think you will find second life every exciting. This is a second world that allows you to create a second life and interact with other people. We are going to use this environment for some of our class activities. The site is free. You do not have to spend any money in second life if you do not want to. I would like you to go to the site and explore second life. Read the second titled "What is Second Life?" This will help you get acquainted with the alternative world. Then I would like you to develop an Avatar. An Avatar is your the image that represents you in Second Life. We will really start working with the site in February. This will give you almost a month to get familiar with the system.

One disclaimer:

Second Life is just like the real world. Just as if I told you to go on a tour of Greensboro you will see good things and bad things. In Second Life you might find people who are doing things that are not ethical or moral. I advise you not to enter areas that make you uncomfortable or seem unethical. I will talk to you more about this in class but I just want to make you aware. If you object to using Second life please let me know and I will find an alternate experience for you. Just make me aware and I will help you all I can.

Personal Reflections

For each of the eight lessons of the course, students will write a two-paragraph, personal reflection based on course readings and course discussions. The reflections should express the student’s understanding of issues, and how the concepts influenced the student’s attitude about becoming an entrepreneur. Students should enter their reflections on the appropriate thread in the Blackboard discussion board. The student can choose any course topic of interest to write his or her reflections.

Final Project – Concept Paper – Competition

Students will work in groups to develop a venture concept for competition. At the end of the semester your group will present information about your venture. Presentations will be judged by a panel of local entrepreneurs. A competition prize will be awarded to the team with the best venture concept. The following is a general description of the research that should be included in your research.

• Describe the concept

• Complete a detailed analysis to determine the feasibility of the concept. This analysis will include:

a) Industry and Market Analysis

b) Competitive Analysis

c) Venture Analysis

• Develop a presentation highlighting your team’s concept for competition

Both primary and secondary research will be required to determine feasibility. The underlying basis of the plan should be based on interviews and discussions with relevant business people.

Document Guidelines

Your team should turn in a cohesive document that reads as if it was written by one author.

• Use APA style of documentation.

• You should use topical headings for each section of your document.

• Pages of the document should be numbered

• You will need an APA style reference page.

• You should edit your work. Please use the writing center if needed.

• Use 12 point – times new roman font.

• Double space your document.

MGT 240-01

Spring 2008

Schedule

|Week of |Topic |Assignments |

|January 14 |Lesson 1 |McGrath, R. G., MacMillian I.C. & Scheinberg, S. (1992). Elitists, Risk-Takers and Rugged Individualists? An Exploratory |

| | |Analysis of Cultural Differences Between Entrepreneurs and Non-Entrepreneurs. Journal of Business Venturing, 7, 115-135. |

| | |Smilor, R. (2001). Daring Visionaries: How Entrepreneurs, Build Companies, Inspire Allegiance, and Create Wealth. Holbrook,|

| | |MA: Adams Media Corporation. (UNCG Library Reserves) |

| | |Georgellis, Y. and Wall, H. (2000) Who are the Self-Employed? Federal Reserve Bank of St Louis. , St Louis, Mo. |

| | | |

| | |Personal Reflection 1 |

|January 21 |Lesson 1 |Dees, J. G. (2001). The meaning of Social Entrepreneurship. The Center for the Advancement of Social Entrepreneurship. |

| | |(2001, May 30). Retrieved December 8, 2005, from |

| | |Read story about the Proximity Hotel in the Greensboro News and Record |

| | | |

| | | |

| | | |

| | |Honey Care Africa Case Due: January 31, 2008 |

| | |Personal Reflection 1 |

| | |Do you have what it takes to be an entrepreneur? |

| | |Many students want to assess their ability to act as an entrepreneur before they take the big plunge. For MGT 240 you are |

| | |required to complete an assessment titled “Do I have what it takes to be an entrepreneur?” If you go to your Blackboard |

| | |home page under course documents you will see an assessment labeled “Do I have what it takes to be an entrepreneur?” Answer|

| | |the questions and once you complete the assessment you will be given a score. Match that score with the information at the |

| | |link below. |

| | | |

| | |The assessment is a resource from the Indiana Venture Center. You might also find other entrepreneurial resources at that |

| | |site. |

| | | |

|January 28 |Lesson 2 |Introduction to Entrepreneurial Interview |

| |Questions for discussion: |Schramm, Carl J. “Foreign Affairs Building Entrepreneurial Economies.” Council on Foreign Relations, Inc., 2004 104. Vol. |

| |What role does entrepreneurship have in |83. |

| |creating and sustaining the economy? |Torres, Nichole L. (Feb 2006) Global trade: get the skinny on how you can start an international business in college. The |

| |As explained in “Building |Entrepreneur, 43, p 120 (1). |

| |Entrepreneurial Economies,” how do new |Drucker, P (1993) “Introduction: The Entrepreneurial Economy” in Innovation and Entrepreneurship. Collins: New York, NY. |

| |and established businesses work |Blinder, Alan S. (2006).  Off shoring: The next Industrial Revolution?, Foreign Affairs, March/April 2006. |

| |together? |Personal Reflection 2 |

| |What does it mean to have a “Creative | |

| |Economy”? | |

| |Why does it matter if the U.S. is | |

| |economically competitive in the world? | |

| |Does your individual entrepreneurial | |

| |activity help in creating a competitive,| |

| |creative, and sustainable economy? | |

|February 4 |Lesson 2 |Schramm, Carl J. (2004). Building Entrepreneurial Economies. Foreign Affairs. Vol 83, No. 4. pp 104-107. |

| | |View this website and read the section titled "How the US economy Works? |

| | | |

| | |World Trade Organization |

| | | |

| | |Entrepreneur Interview Due: February 11, 2008 |

|February 11 |Lesson3 |HATCH, JIM, & ZWEIG, JEFFREY. (Nov 2000)What is the stuff of an entrepreneur?(research).  In Ivey Business |

| | |Journal, 65, p68. |

| | | Osborne, Richard L. (1995). The Essence of Entrepreneurial Success: What are the essential elements of entrepreneurial |

| | |success? In Management Decision. Vol 33, No. 7. 1995. pp.4-9. |

| | |Dingee, Alexander, Haslett, Brian, and Smollen Leonard (1997). Characteristics of a Successful Entrepreneurial Management |

| | |Team. From Pratt’s guide to Venture Capital Sources, 1997, pp.23-28. (E-reserve) |

| | |Smilor, Ray (2001). Section 5: Managing the Dark Side. In “Daring Visionaries: How Entrepreneurs Build Companies, Inspire |

| | |Allegiance, and Create Wealth. Adames Media Corporation: Holbrook MA. |

| | | |

| | | |

| | |Personal Reflection 3 |

|February 18 |Lesson 3 |Start Movie |

| | |How do entrepreneurs handle success? |

| | | |

| | |Failure of a part of success    |

| | | |

| | |Can failure be good?        |

|February 25 |Lesson 4 |Start Case Due: March 3, 2008 |

| | |View PBS Clips on Innovation |

| | |Wetlaufer, Suzy, (1997). What’s Stifling the Creativity at CoolBurst? Harvard Business Review. Vol.75 Issue 5, P36-40, 4p. |

| | |1c.5bw |

| | |Burrows, Peter (September, 2006). Who is Jonathan Ive?: An in-depth look at the man behind apple’s designed magic. |

| | |BusinessWeek Online. |

| | | |

| | |Mullins Chapter 1&2 |

|March 3 |Lesson 4 |Personal Reflection 4 |

| | |Scott, Anthony,D.& Eyring, Matt; Gibson, Lib.(May 2006) Mapping Your Innovation Strategy. Harvard Business Review. Vol. 84 |

| | |Issue 5, p104-113, 10p, 3c. |

| | |Hargadon, Andrew & Sutton, Robert (2000). Building an Innovation Company. Harvard Business Review. Vol. 78 Issue 3, P |

| | |157-166, 10p 14c. |

| | |(March. 2006). Connect and Develop: Inside Proctor and Gamble’s New Model for Innovation. Harvard Business Review. |

| | |Mullins Chapter 3&4 |

| | |Kim, W. Chan & Mauborgne, Renee. (2000). Knowing a winning business idea when you see one. Harvard Business Review. |

| | |The Heart of Entrepreneurship. Harvard Business Review; Mar/Apr85, Vol. 63 Issue 2, p85, 10p, 3 charts |

| | |View PBS Feature on Innovation |

|March 10 |Spring Break | |

|March 17 |Lesson 5 |Personal Reflection 5 |

| | |Venture Hunt |

| | |Library Resources with Steve Cramer |

| | |Mullins Chapter 5&6 |

|March 24 |Lesson 6 |Realistic Criteria for Judging New Ventures. Harvard Business Review: Nov/Dec 81, Vol. 59 Issue 6, p 60-72, 7P |

| | |Personal Reflection 6 |

| | |Mullins Chapter 7& 8 |

|April 7 |Lesson 6/7 |Kalista’s Fine Chocolates Case Due: April 14, 2008 |

| | |Mullins Chapter 9&10 |

|April 14 |Lesson 7 |Personal Reflection 7 |

| | |Brittin, J. Selecting The Legal Structure For Your Business, US Small Business Administration. |

| | |New Business Road Test Chapter 10 |

| | |Maysami, R. Understanding and Controlling Cash Flow |

| | |Realistic Criteria for Judging New Ventures. Harvard Business Review; Nov/Dec81, Vol. 59 Issue 6, p60-72, 7p |

| | |Evanson, David & Beroff Art. (August 1999) Ready or Not? Before you start shaking the trees for investors, Make sure you’re|

| | |prepared to catch them. Entrepreneur. Pp56-69. |

| | |Hertenstein, Julie & McKinnon, Sharon. (Jan/Feb1997). Solving the Puzzle of the Cash Flow Statement. Business Horizons. |

| | |Business Horizons. PP 69-76. |

| | |Feld, Bradley (March 24, 2004). The Entrepreneur’s Financial-Fitness Checklist. Business Week. |

|April 21 |Lesson 8 |Business Model Article ( Class Handout) |

|April 28 |Lesson 8 |Personal Reflection 8 |

| | |Business Model |

|May 5 |Lesson 8 |Concept Paper Due May 5, 2008 |

|May 12 |Presentations | |

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