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BAEP 557 - Technology Commercialization, Spring 2017Wednesdays, 6:30p – 9:30p, JKP 112Professor Pai-Ling Yin, HYPERLINK "mailto:pailingy@marshall.usc.edu" pailingy@marshall.usc.eduOffice hours by appointment, JFF 515Course DescriptionYou have a technology: how do you actually make money off of it? In this course, we will survey the various options to commercialize a technology. These options apply to both technologies generated within large, established firms and by small entrepreneurs. Emphasis will be placed on the legal, financial and marketing aspects of technology transfer and development. Students will identify and evaluate whether and how a technology has commercialization potential, translate the technologies into a business applications, and then propose plans for commercialization. Each class will revolve heavily around class discussion of the assigned readings and cases. This course is one of the required courses for the USC Marshall Certificate in Technology Commercialization. For more information about the Certificate Program, see . Learning ObjectivesGlobal Objective: Understand and apply the fundamental concepts, theories, principles, and practices employed in the commercialization of new technologies.Detailed Objectives:Develop a strategic understanding of the commercialization process, the activities inherent in the process, and the related challenges and opportunities.Develop critical thinking skills that will enable you to formulate, frame, and justify your solution to tech commercialization challenges.Gain experience in solving common and difficult problems in all stages of the commercialization process.Effectively present evidenced-based ideas in written and oral forms.Effectively articulate, critique, defend, question, and reformulate your commercialization plans during a discussion with peers.Required MaterialsThere is no textbook for the course. Harvard cases and notes can be purchased at a discount using the following link: . Other readings are provided free of charge in Blackboard.Course Communication Course communication will take place through announcements in class, emails, and on Blackboard (blackboard.usc.edu). Many of the emails I send will go through Blackboard; therefore, it's imperative that you have a fully operational Blackboard account with a current and correct email address posted. By default, Blackboard uses your USC email address (username@usc.edu) for sending emails; if this is not your primary email account, please make sure to forward your USC email to the account you use. You are responsible for ensuring that messages will not bounce back due to your storage quota being full.Grading PoliciesTo achieve an A in this class, you will need to go well beyond the minimum requirements as stated in the syllabus in terms of the quality of your work and your involvement in and contribution to the class. An A is a sign of superior work and, much like the efforts of entrepreneurs, reflects the fact that you stood out from the crowd. Historically, the average grade for graduate elective classes at the Marshall School has been 3.5.Your final grade is based on the following components:Class Participation10015%(individual)In-Class Quizzes 2020%(individual)Pre-Class Surveys 1010%(individual)Technology Summary 10 5%(individual)Commercialization Plan 10015%(individual)Team Commercialization Plans20015%(team)Team Final Presentation 10 5%(team)Team Final Paper + Individual Peer Evaluation 10015%(team/individual) 550100%Class ParticipationStrategic analysis is not accomplished through the routine application of formulas, but rather through reasoned analysis under conditions of limited information and uncertainty. One of the primary goals of this course is to help you develop the ability both to clarify your own position on a technology commercialization question and to be able to articulate and defend it clearly. Sharing your perceptions and ideas with others is crucial for learning and for understanding how the diverse opinions that you are likely to encounter in an organization are debated. You will find yourself presenting and testing new ideas that are not wholly formulated and assisting others in shaping their ideas as well. You should be prepared to take some risks and be supportive of the efforts of others. It is impossible to earn a participation grade if you are not in class. Participation is graded on both quantity and quality, with quality carrying the most weight. Quality is assessed by the following categorizations:Outstanding Contribution: Your contributions reflect considerable preparation; they are substantive and supported by evidence from the case, readings, and logic. Your comments or questions create a springboard for discussion by making a critical insight. You synthesize and build upon what has already been said in the discussion. The class learns from you when you speak; in your absence, the discussions would suffer.Good Contribution. You come prepared with substantiated comments. You demonstrate good insight and clear thinking. You are able to make some connection to what has been said in prior discussion. The class notices when you’re not part of the discussion.Minimal Contribution. You participate but are unprepared. You rarely offer interesting insights into the discussion; it appears that you are not listening to what others are saying during discussion.No Contribution. You say little or nothing in class. If you were not in the class, the discussion would not suffer.I consider the following dimensions when assessing quality:Relevance -- does the comment bear on the subject at hand? Does the comment react in an important way to what someone else has said? Analysis -- is the reasoning employed consistent and logical? Are the logical antecedents or consequences of a particular argument traced out? Comments that push the implications of a fact or idea as far as possible are generally superior.Evidence -- have data from the case, readings, personal experience, or general knowledge been employed to support the assertions made?Importance -- does the contribution further our understanding of the issues at hand? Is a connection made with other cases we have analyzed or courses? Does the speaker sustain a line of argument or point of view through a significant part of the class session, or is it an isolated comment?Clarity -- is the comment succinct and understandable? Does it stick to the subject or does it wander?Risk taking -- Is there a willingness to challenge the ideas that are being expressed? Is there a willingness to test new ideas, play the devil’s advocate?Classroom Conduct: Exhibiting body language that indicates you are an engaged listener will increase your participation grade. Properly acknowledging and crediting other people who have mentioned an idea before you is also rewarded. Activities that disrupt our class discussions will lower your participation grade, e.g., arriving late, leaving early, side conversations in class, leaving and re-entering the classroom during case discussions or lectures. If you need to arrive late or leave early, please let me know in advance. Class preparation: With a reading, you should be able to outline the problem that the article addresses, describe the core points of the reading, and, most importantly, offer your analysis of the strengths and weaknesses of the reading’s central argument. START () is a great guide for analysis of this type of reading. With a case, you should be able to identify the key issues, problems, and opportunities facing the central protagonists, to articulate and evaluate alternative approaches to the problems, and to describe the course of action that you recommend and the reasons for your recommendations. USC-CT () is a great guide for case analysis. I highly recommend the other learning modules at this site: and Grading Detail In-Class Quizzes: You will be asked 20 multiple choice questions regarding the reading throughout the course. The answers will be discussed in class immediately following the quiz.Pre-Class Surveys: There will be 10 pre-class surveys. Completing the survey by the due date & time earns you full credit. No credit for late submissions. Technology Summary: Choose a technology (either from , , or one you are currently working on as a business/for work). Imagine a specific application for that technology and identify a specific firm or customer that would benefit from that application. Write a letter to that firm/customer explaining your specific application of the technology (including a simple description of how it works based on what you read in the patent and available fact sheets) and why the firm/customer would benefit from it (including how it is better than whatever they might be doing now). Include a link to the technology you chose if it came from NASA or Stevens. 1 page max, excluding graphs/mercialization Proposal: You will choose two technologies: one you think will be a commercialization success, and one you think will be a commercialization failure. You will propose a commercialization plan for the success and explain why the other is not worth commercializing. You can use the technology from the previous assignment. Your plan should explain who should build/license the technology. Indicate whether there should be any exclusivity conditions, identify alternatives to your target firm, & identify any other partners (eventually you will want to think about marketing & distribution, but you do not need to discuss in this assignment). Your plan should also explain why this technology with this firm will succeed in the market. How will your plan create and capture value? Estimate end-user Total Addressable Market, identify competitors & the competitive advantage, suggest a revenue model, & identify risks. 3 pages max, excluding graphs/charts.Team Commercialization Proposals: Your team will choose four technologies: two you think will be commercialization successes, and two you think will be commercialization failures based on your individual commercialization proposals. You will propose a commercialization plan for the successes and explain why the other two are not worth commercializing. 8 pages max, excluding graphs/charts.Team Final Presentation: Your team will give a 5 minute presentation on one of your successes and be prepared to respond to questions from the class.Team Final Paper + Individual Peer Evaluation: Your team will propose a final commercialization proposal on the final presentation technology, responding to feedback from the presentation. 6 pages max, excluding graphs/charts. Each individual will also turn in a peer evaluation (see BB).All assignments must be typed in 12 pt Times New Roman font single-spaced with 1 inch margins. Do not exceed the page limit requirement for a particular assignment. Additional pages will not be read for grading purposes.All written work must be submitted to the Assignment Page on Blackboard by the time specified in the Course Schedule on the date due. No exceptions. If you will not be in class on the due date, your assignment must still arrive by the time and date it is due. You are certainly encouraged to turn in papers before the deadline. Please keep copies of all your papers and emails until the end of the semester.The assignment must be sent in a single Word/PDF document file labeled as follows: yourlastnamefirstinitial_BAEP557_assignment name. You should put your name on the actual assignment document at the top. Assignments that do not follow these rules will be returned and 5% of the total points will be deducted if returned in a timely manner (much like a restocking fee). Since all the assignments are submitted electronically, these requirements are necessary to maintain order and to find files quickly. DO NOT HIT ‘SUBMIT’ IN BLACKBOARD UNTIL YOU HAVE VERIFIED THAT YOU HAVE PROOFREAD YOUR FILE AND ARE UPLOADING THE CORRECT VERSION AND FILE FOR A PARTICULAR ASSIGNMENT. You have one chance to get it right. Those of you who file for grants or file income taxes with the IRS understand the importance of getting it right the first time.Assignments will be accepted after the deadline with the following penalties: Assignments turned in after the required time and within 24 hours of the date and time due will lose 10% of the total points possible. Papers turned in 24 hours after the due-date/time will lose 20% of the total points. No papers will be accepted 48 hours after the date/time due. Any material cited verbatim from its original source should be in quotes and contain a reference to a full citation for that source. Paraphrased work should also contain a reference to the source citation. See section on Academic Conduct below for guidance on plagiarism.University and Marshall PoliciesPlease read the following policies carefully. They are critical to your success in this course.Confidentiality PolicyThroughout the course, students will be exposed to proprietary information from other students, guest lecturers, and faculty. All such information is to be treated as confidential. By enrolling in and taking part in this course, students agree not to disclose this information to any third parties without specific written permission from students, guest lecturers, or faculty, as applicable. Students further agree not to utilize any such proprietary information for their own personal commercial advantage or for the commercial advantage of any third party. In addition, students agree that any legal or consulting advice provided without direct fee and in an academic setting will not be relied upon without the enlisted opinion of an outside attorney or consultant without affiliation to the Program. Any breach of this policy may subject a student to academic integrity proceedings as described below and to any remedies that may be available at law. This course, the Marshall School of Business, and the University of Southern California disclaim any responsibility for the protection of intellectual property of students, guest lecturers or faculty who are involved in the course. Receipt of this policy and registration in our classes is evidence that you understand this policy and will abide by it.Academic IntegrityUSC seeks to maintain an optimal learning environment. General principles of academic honesty include the concept of respect for the intellectual property of others, the expectation that individual work will be submitted unless otherwise allowed by an instructor, and the obligations both to protect one’s own academic work from misuse by others as well as to avoid using another’s work as one’s own. All students are expected to understand and abide by the principles discussed in SCampus, the Student Guidebook ( or ).Students will be referred to the Office of Student Judicial Affairs and Community Standards for further review, should there be any suspicion of academic dishonesty. The Review process can be found at: . Failure to adhere to the academic conduct standards set forth by these guidelines and our programs will not be tolerated by the USC Marshall community and can lead to dismissal.Academic ConductPlagiarism - presenting someone else's ideas as your own, either verbatim or recast in your own words - is a serious academic offense with serious consequences. Please familiarize yourself with the discussion of plagiarism in SCampus?in Section 11,?Behavior Violating University Standards . Other forms of academic dishonesty are equally unacceptable. See additional information in?SCampus?and university policies on scientific misconduct,?, sexual assault, and harassment are not tolerated by the university. You are encouraged to report any incidents to the?Office of Equity and Diversity? or to the?Department of Public Safety . This is important for the safety of the whole USC community. Another member of the university community - such as a friend, classmate, advisor, or faculty member - can help initiate the report, or can initiate the report on behalf of another person.?The Center for Women and Men 24/7 confidential support, and the sexual assault resource center webpage? reporting options and other resources.Support SystemsA number of USC's schools provide support for students who need help with scholarly writing. Check with your advisor or program staff to find out more. Students whose primary language is not English should check with the American Language Institute?, which sponsors courses and workshops specifically for international graduate students.?The Office of Disability Services and Programs provides certification for students with disabilities and helps arrange the relevant accommodations. If an officially declared emergency makes travel to campus infeasible,?USC Emergency Information? provide safety and other updates, including ways in which instruction will be continued by means of blackboard, teleconferencing, and other technology.Add/Drop ProcessIn compliance with USC and Marshall’s policies classes are open enrollment (R-clearance) through the first week of class. All classes are closed (switched to D-clearance) at the end of the first week. This policy minimizes the complexity of the registration process for students by standardizing across classes. We can drop you from our class if you don’t attend the first two sessions. Please note: If you decide to drop, or if you choose not to attend the first two sessions and are dropped,?you risk not being able to add yourself to another section this semester. You can only add a class after the first week of classes if you receive approval from the instructor.Technology PolicyLaptop and Internet usage are not permitted during academic, professional sessions, or for guest speakers unless otherwise stated by the professor. Use of other personal communication devices such as mobile phones is considered unprofessional and is not permitted during academic or professional sessions. Videotaping faculty lectures or guest speakers is not permitted due to copyright infringement regulations. Audiotaping may be permitted ONLY if approved by the professor. Use of any recorded material is reserved exclusively for USC Marshall students registered in this class.IMPORTant!!!! Receipt of this Syllabus and registration in this COURSE will serve as evidence that you understand and accept the requirements of THE course.The course schedule begins on the next pageWEEKTOPIC AND PLANPREPARATION FOR CLASSDELIVERABLE1: Jan 11Cancelled2: Jan 18IntroductionPhilosophy, expectations, syllabus, and assignmentsOverview of tech commercialization via discussion of autonomous vehiclesDavies, A., (Jan 2017). “The Very Human Problem Blocking the Path to Self-Driving Cars,” WIRED How would you define tech commercialization? What do you want learn in this class?“Pre”-Class “Survey”: Post one narrative paragraph about yourself on Blackboard in the “Who am I?” discussion board by 8am, Mon, Jan 23. Include background and interests relative to technology commercialization. Please indicate if you are trying to start a business or a new project inside an established firm!3: Jan 25Commercialization StrategiesQuiz + Reading DiscussionCase DiscussionHBS Core Curriculum Reading: Yin, Pai-Ling, “Strategy Reading: Technology Strategy,” Sections 2.2.3 & 2.2.4BB: Gans, J. & Stern, S. (2016). “Choosing Your Entrepreneurial Strategy,” Entrepreneurial Strategy, Chapter 6, mimeo, MIT Sloan School.HBS Case: Abgenix & the XenoMouse1. Calculate the best, worst, and expected revenue from the Pharmacol & BioPart offers. 2. What factors are important in choosing a partner?3. What should Scott Greer do?4. What are the major risks in the decision you chose for Scott? How can these be managed?Pre-Class Survey: See BB for link. Due 3pm, Wed, Jan 25 (day of class).4: Feb 1Technology TransferGuest Speakers: NASA Armstrong Flight Research CenterJaneya Griffin Technology Transfer Specialist, JACOBSLaura Fobel Chief, Technology Transfer OfficeQuiz + Reading Discussion: Griffin, J. (Aug 2011) Battery Charger ReportBB: Griffin, J. (Aug 2011) Battery Charger PresentationHBS Industry and Background Note: Eisenmann, T., “Business Model Analysis for Entrepreneurs.”Suster, M. (2016). “How to Decrease the Odds that Your Startup Fails,” Both Sides of the Table. Pre-Class Survey: See BB for link. Due 3pm, Wed, Feb 1 (day of class).5: Feb 8Technology TransferGuest Speakers: USC Stevens Center for InnovationJen Dyer Executive DirectorMike ArcieroDirector of Technology Licensing & New VenturesQuiz + Reading Discussion : click on a technology, scroll to the bottom, and click “download” to see how USC summarizes the tech.BB: Gans, J. & Stern, S. (2016). “Intellectual Property Strategy,” Entrepreneurial Strategy, Chapter 7, mimeo, MIT Sloan School.Parker, K. & Mainelli, M. (Nov 2001). “Great Mistakes in Technology Commercialization,” Strategic Change, 10:7, pp. 383-390. Available online via USC library.Pre-Class Survey: See BB for link. Due 3pm, Wed, Feb 8 (day of class).6: Feb 15HTE – TCCM Mixer, JFF 5th FloorGuest Speaker: Mike KwonCEO, WhiteCoat Healthcare, Inc.RSVP: LOCATION CHANGETech Summary: Due 4pm, Tue, Feb 21.7: Feb 22Value Chain StrategyQuiz + Reading Discussion Case Discussion BB: Gans, J. & Stern, S. (2016). “Value Chain Strategy,” Entrepreneurial Strategy, Chapter 9, mimeo, MIT Sloan School.HBS Case: Mobileye: The Future of Driverless Cars1. Value chain strategies involve collaboration and execution. What collaboration and execution choices did Mobileye make to capture value? How did they avoid imitation/competition from incumbents, substitution from other technologies, and hold-up by incumbents?2. How should Shashua and Aviram handle OEM demands for lower prices? Should they maintain a “full” price strategy or discount for the low-end bundle?3. How should Shashua and Aviram approach Google? Should they cooperate with Google or keep them at arm’s length?Pre-Class Survey: See BB for link. Due 3pm, Wed, Feb 22 (day of class).8: Mar 1Disruptive CommercializationQuiz + Reading Discussion Case Discussion BB: Gans, J. & Stern, S. (2016). “Disruption Strategy,” Entrepreneurial Strategy, Chapter 8, mimeo, MIT Sloan School.Hagiu, A. (Winter 2014). “Strategic Decisions for Multisided Platforms,” MIT Sloan Management Review, 55:2, pp. 71-80. Available online via USC library.HBS Case: Fasten: Challenging Uber & Lyft with a New Business ModelPre-Class Survey: See BB for link. Due 3pm, Wed, Mar 1 (day of class).Commercialization Plans: Due 4pm, Mon, Mar 6.9: Mar 8Building an IndustryGuest Speaker: Thomas CiszekResearch Manager, TwitterQuiz + Reading Discussion BB: Gans, J. & Stern, S. (2016). “Architectural Strategy,” Entrepreneurial Strategy, Chapter 10, mimeo, MIT Sloan School.HBS Core Curriculum Reading: Yin, Pai-Ling, “Strategy Reading: Technology Strategy,” Sections 2.3 & 2.4Pre-Class Survey: See BB for link. Due 3pm, Wed, Mar 8 (day of class).SPRING BREAK MARCH 13-1710: Mar 22Open Commercialization Quiz + Reading DiscussionFord Case Discussion HBS Newsletter: “Sharing to Advantage: A New Paradigm for Business.”Wilson, S. & Kambil, A. (Apr 2008), “Open Source: Salvation or Suicide?” Harvard Business Review, 86:4, pp. 33-44. Available online via USC library.Metz, C. (Dec 2015), “Elon Musk’s Billion-Dollar AI Plan Is about Far More than Saving the World,” WIRED “Intellectual Property for Long-term Growth,” Mike Olson, Cloudera (2 min) Pawlett, S. (Jan 12, 2017) “Toyota and Ford Promote Open Source Interfaces,” AutoServiceWorld/Jobber News Pre-Class Survey: See BB for link. Due 3pm, Wed, Mar 22 (day of class).11: Mar 29Intellectual PropertyGuest Speaker:Julien Adams, Esq.Partner, Dovel & LunerQuiz + Reading Discussion Intangible Advantage : “Can I Patent That?” “Can I Copyright That?” “Is It Fair Use or Infringement?” “What If Someone Infringes Your Copyright?” “Can I Trademark That?” “Establishing Your Trademark Protection.” “What If Someone Infringes Your Trademark?”BB: Allen, K. (2015), “Note on Intellectual Property.”Duhig, C. & Lohr, S. (October 8, 2012), “The Patent, Used as a Sword,” The New York Times, A1. Pre-Class Survey: See BB for link. Due 3pm, Wed, Mar 29 (day of class).12: Apr 5Technology AdoptionQuiz + Reading Discussion Case DiscussionGourville, J. (June 2006) “Eager Sellers and Stony Buyers,” Harvard Business Review, 84:6, pp. 98-106. Available online via USC library.Betters, E. (Jan 16, 2015) “Google Glass: A Brief History,” Pocket-lint Bilton, N. (Feb 4, 2015) “Why Google Glass Broke,” The New York Times Nieva, R. (May 1, 2015) “Lost Explorers: The Unrealized Vision of Google Glass,” CNET Google, Do’s and Don’ts Kemper, S. (June 16, 2003) “Steve Jobs and Jeff Bezos meet ‘Ginger’” (optional) BB: Robinson, L. (Jan 2009) “A summary of Diffusion of Innovations,” Enabling Change1. Why did Google Glass fail? 2. What could have been done differently to improve adoption? 3. Is this just a repeat of what happened to Segway?Pre-Class Survey: See BB for link. Due 3pm, Wed, Apr 5 (day of class).13: Apr 12GrowthGuest Speakers:Lorenzo Gonzalez & Pawel SasikFounder, CEO & Founding Partner, ValarmQuiz + Reading Discussion BB: Allen, K. “Not a Startup Anymore”Bresnahan, T. & Yin, P. (May 2017) “Adoption of New Information and Communication Technologies in the Workplace Today,” Innovation Policy & the Economy, 17:1, pp. 95-124. Pre-Class Survey: See BB for link. Due 3pm, Wed, Apr 12 (day of class).Team Commercialization Plans: Due 6pm, Wed, Apr 19.14: Apr 19Field trip to Gensler at Gensler: 500 South Figueroa St, Los Angeles, CA 90071Parking info TBAQuiz Rewrites (OPTIONAL): Due 4pm, Mon, April 2415: Apr 26Final Team Presentations Team Presentation Slides: Due 6:30pm, Wed, Apr 26 (day of class)Team Final Paper & Individual Peer Evaluation: Due noon, Friday, May 5 ................
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