ENT 422 The Role of Entrepreneurship in Value Creation in Large and Small Enterprises Lecture 1

Getting Acquainted  Peter’s Background  Jim’s Background Students  Career Summaries  Why An Interest In Entrepreneurship

We now study entrepreneurship as process – No longer a focus on entrepreneurs The Steps Are:  Evaluating Ideas for Opportunities  Assembling Resources  Launching the New Venture  Building the Venture  Harvesting the Rewards

But the other stages will be discussed ― and this approach is appropriate for- profit ventures and non-profits alike.

 Readings  Lectures  Cases – Including A Local Firm  Guest Speakers  Workshops - Learning How To Use: Idea Generation Guide; Quickscreen Exercise; Venture Opportunity Screening Exercises It will be important to form teams – 2 or 3 students

 60% Of The Final Grade Will Be Team Based  40% Of The Final Grade Will Be Individually Based (But – 20% Will Be Classroom Contributions) In Recognition The Importance Of Teams: After this course, students will be prepared to take Ent423 and other Entrepreneurial offerings

It is a process comprising a series of steps which, if followed, would likely create value and a successful new venture ― often referred to as a startup.

It is the process comprising a series of steps which, when followed, would create value and a successful new venture that resides in an existing company.

For-Profit Organizations:  C-Corporations  Special Types: Sole Proprietor; Partnerships; Limited Liability; Subchapters Not-For-Profit Organizations:  Private Charities, Museums  Philanthropic Entities  Social Entrepreneurship (1) (1) Might Include Health Care, Educational, Religious, Sports And Recreational Organizations

 Startups  Corporate Business Development  Franchising  Buying A Business  Revitalizing A Troubled Business  Joint Ventures

Not-for-profit organizations tend to develop functional models that focus on what they want to accomplish.

Baron and Shane – Chapter One Entrepreneurship: A Field and an Activity Selected Highlights From The Chapter

 Media Accounts Of Success  Changes In The “Employment Contract”  Change In Basic Values

 Economics  Technology  Psychology, Cognitive Sciences  Law  Sociology  Political Science We Plan To Include Material From Simon Cross-Functional Core Courses.

 Research In Entrepreneurship – Relatively New  Technique Used To Develop Knowledge  Early Research At A. T. Kearney Systematic Observation Of Entrepreneurs Reflection On Information Leads To Cases Experimentation Is Not Very Practical

Entrepreneurship Consists of Five Phases:  Determination Whether “Good Ideas” Are “Opportunities”  Assembling Recourses - And Business Plan  Launching A New Venture  Building The Venture  Harvesting Results Our study is the first phase which is applicable for-profit and not-for profit entities.

 Idea Generation Guide; Quickscreen Exercise; Venture Opportunity Screening Exercises Help Identify “Opportunities”;  Entrepreneurship is based on older disciplines;  After Ent422, students will understand how value is created and prepare them for other entrepreneurship courses;  Teams important in developing ventures. Therefore we ask students to form teams of two or three.

Lecture: Intrapreneurship – Corporate Venturing ― Readings (Handout Materials) Block Chapter 1 Lecture: How To Discover New Ideas ― Readings Chap. 2-3; (Handout Materials) Hisrich Workshop ― Hand in List of Team Members ― Hand in completed form of Student Biographical Form ― Discuss Idea Generation Guide, The Quickscreen Exercise and the 12 Venture Opportunity Screening Exercises (Vose) Readings (Handout Materials) Work on Identifying Two Ideas for study using “The Idea Generation Guide”.