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Introduction to New Ventures

BAEP 551

Lloyd Greif Center for Entrepreneurial StudiesMarshall School of Business, Bridge Hall One (lower level)

University of Southern CaliforniaLos Angeles, CA 90089-0801

Phone: 213-740-0641Fax: 213-740-2976

www.marshall.usc.edu/entrepreneur

Instructor: Dr. Andrea BelzBio: http://entrepreneur.marshall.usc.edu/faculty/full-time-faculty/

Email: [email protected]: 14402R Mondays 6:30 9:30 p.m. HOH 2Office hours: Wednesdays 2-5 pm, otherwise please email for an appointment.

..........................................................................................................INTRODUCTIONTOTHECOURSE 1

.................................................................................................UNIVERSITYANDMARSHALLPOLICIES 2

.....................................................................................................................................CLASSPOLICIES 4

........................................................................................................................COURSEASSIGNMENTS 5

Introduction to the course

Course description and approachThis course an introduction to entrepreneurial thinking and processes, exposing you to thechallenges of creating, evaluating, and managing new ventures. It can stand alone or serve as thefoundation for further studies in the Entrepreneurship program.

Learning objectivesYou will learn the general framework and specific skills to understand and apply the following:

Problem-solving approaches of successful entrepreneurs Processes to evaluate new entrepreneurial opportunities Corporate and social entrepreneurship Entrepreneurship through acquisition Feasibility analysis, business model evaluation, sources of capital, and other issues in

launching an enterprise
http://entrepreneur.marshall.usc.edu/faculty/full-time-facultyhttp://www.marshall.usc.edu/entrepreneur/mailto:[email protected]:[email protected]://entrepreneur.marshall.usc.edu/faculty/full-time-facultyhttp://entrepreneur.marshall.usc.edu/faculty/full-time-facultyhttp://www.marshall.usc.edu/entrepreneur/http://www.marshall.usc.edu/entrepreneur/

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You will also develop: Critical thinking skills: Analyzing data, solving problems, and making decisions Creative capabilities in idea generation Communication skills in written and oral presentations

Collaborative skills in teamwork and individual skills in task management

We will use lecture, class exercises, case studies, individual and group projects, and guestlectures. This course provides students with tools to recognize and develop opportunities. It isnot a spectator sport. You will benefit the most from this class if you complete all therequired readings and participate in class discussions.

To achieve these objectives through a stimulating and active learning experience, the course willbe centered on discussion rather than on lectures. We will use a variety of methods includingproblem-solving class exercises, case studies, individual and group activities, and guest lectures.Evaluation will focus on the use and application of content rather than the simple acquisition ofcontent, emphasizing your ability to understand the so what? of new information.

Course prerequisitesNone.

StructureThis class is highly structured but will change if the faculty discerns that students or conditionsindicate the need to change. Student desires and backgrounds are considered. Special projectsare encouraged, upon approval. Your expectations are important!

University and Marshall Policies

Confidentiality policyThroughout the Entrepreneur Program's classes and events, students will be exposed to

proprietary information from other students, guest lecturers, and faculty. It is the policy of theEntrepreneur Program that all such information is to be treated as confidential. By enrolling inand taking part in the Entrepreneur Program's classes and activities, students agree not todisclose 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 suchproprietary information for their own personal commercial advantage or for the commercialadvantage of any third party.

In addition, students agree that any legal or consulting advice provided without direct fee and inan academic setting will not be relied upon without the enlisted opinion of an outside attorneyor consultant without affiliation to the Program.

Any breach of this policy may subject a student to academic integrity proceedings as describedin the University of Southern California University Governance Policies and procedures asoutlined in SCAMPUS , and to any remedies that may be available at law.

The Greif Entrepreneurship Program, the Marshall School of Business, and the University ofSouthern California disclaim any responsibility for the protection of intellectual property ofstudents, guest lecturers or faculty who are involved in Program classes or events. Receipt ofthis policy and registration in our classes is evidence that you understand this policy and willabide by it.

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Academic integrityUSC seeks to maintain an optimal learning environment. General principles of academic honestyinclude the concept of respect for the intellectual property of others, the expectation thatindividual work will be submitted unless otherwise allowed by an instructor, and the obligations

both to protect ones own academic work from misuse by others as well as to avoid usinganothers work as ones own. All students are expected to understand and abide by theseprinciples. SCampus, the Student Guidebook, contains the Student Conduct Code in Section11.00, while the recommended sanctions are located in Appendix A. http://www.usc.edu/dept/publications/SCAMPUS/gov/

Students will be referred to the Office of Student Judicial Affairs and Community Standards forfurther review, should there be any suspicion of academic dishonesty. The Review process canbe found at: http://www.usc.edu/student-affairs/SJACS/ Failure to adhere to the academic conductstandards set forth by these guidelines and our programs will not be tolerated by the USCMarshall community and can lead to dismissal.

Please be advised that your assignments will be randomly submitted to TurnItIn through the

Blackboard system, which will generate an originality report on your paper. Bottom line: Youroriginal thought in addition to carefully cited sources will ensure that you dont run intoacademic integrity issues that may affect your grade or your status at USC. Any material citedverbatim from its source should be in quotes and contain a reference to a full citation for thatsource. Paraphrased work should also contain a reference to the source citation.

Add/Drop processIn compliance with USC and Marshalls 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 thefirst week. This policy minimizes the complexity of the registration process for students bystandardizing across classes. We can drop you from our class if you dont attend the first two

sessions. Please note: If you decide to drop, or if you choose not to attend the first two sessionsand are dropped,you risk not being able to add yourself to another section this semester. Youcan only add a class after the first week of classes if you receive approval from the instructor.

Technology policyLaptop and Internet usage is not permitted during academic or professional sessions unlessotherwise stated by the professors. Use of other personal communication devices, such as cellphones, is considered unprofessional and is not permitted during academic or professionalsessions. ANY e-devices (cell phones, PDAs, iPhones, iPods, iPads, Blackberries, other textingdevices, laptops, etc.) must be completely turned off during class time. Videotaping facultylectures is not permitted due to copyright infringement regulations. Audiotaping may bepermitted ONLY if approved by the professors. Use of any recorded material is reserved

exclusively for USC Marshall students.

Policy on accommodations for students with disabilitiesAny student requesting academic accommodations based on a physical, psychological or learningdisability is required to register with Disability Services and Programs (DSP) each semester. Aletter of verification for approved accommodations can be obtained from DSP. Please be surethe letter is delivered to us as early in the semester as possible (by the second week of the


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http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/dept/publications/SCAMPUS/gov/http://www.usc.edu/dept/publications/SCAMPUS/gov/http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/student-affairs/SJACS/http://www.usc.edu/dept/publications/SCAMPUS/gov/http://www.usc.edu/dept/publications/SCAMPUS/gov/http://www.usc.edu/dept/publications/SCAMPUS/gov/http://www.usc.edu/dept/publications/SCAMPUS/gov/

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semester). DSP is located in STU 301 and is open from 8:30 AM to 5 PM, Monday throughFriday. The telephone number for DSP is (213) 740-0776.

Class policies

AttendanceAttendance at all class sessions is critical to the participation component of the course and tolearning in general as we will discuss material not found in any textbook; in addition, we willundertake a number of in-class exercises and strategy-building sessions that require your regularattendance. As part of the emphasis on successful teamwork, you will be evaluated on yourability to listen to and learn from others. Please arrive on time so as not to disturb the class, aguest speaker, or interrupt the professor. You will be asked to sign an attendance sheet for eachclass. It is your responsibility to remember to sign the sheet. You may miss one complete classfor any reason with no penalty. After missing one class, your participation grade will be affected.

Guests and invited speakersFrom time to time we may have guests or invited speakers. You are expected to be prompt so

you can greet them at the beginning of class. Please also check about availability for office hoursjust before speakers' visits. We will inform you of changes as they occur.

Reading listYou will be able to acquire the required cases and articles at a discount from the HBS site. A linkwill be emailed to you so you can purchase and download the cases. The link will also be postedin Blackboard. Any additional readings and cases on issues related to the course topics areprovided free of charge in Blackboard. A due date for the completion of those readings is givenin the Course Plan. On the day the readings will be discussed, please come to class prepared tocontribute your analysis and insights on what you have read. This will contribute to theparticipation portion of your grade.

Cases and classroom exercisesWith one exception, there are no written assignments associated with cases in your reading list.However, the cases will be discussed actively and in detail during class sessions, particularly insmall groups. These groups are different from your teams and you will be expected to changegroups over the course of the semester. Your participation evaluation also depends on yourparticipation in these exercises.

English as a second languageIn the rare case where a student is unable to participate for language or other reasons, pleaseconsult me early in the semester. You will have an opportunity to evaluate your ownparticipation at the end of the semester.

Technology use (see University and Marshall policies)Laptops and cell phones are forbidden in class. There is no point in attending a participation-intensive class if you are focused on another activity.

Acknowledgment of requirementsReceipt of this Syllabus and registration in this class will serve as evidence that you understandand accept the requirements of this course.


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Course Assignments

IntroductionDo not skip this section as the following guidelines apply to ALL assignments

without exception. You will be penalized if you do not follow them.

TeamsBy Wednesday, January 16, you must join one of the 16 teams in the class.

Teams must consist of 4-5 people. One team member should email me the roster by January 17 so I can verify that

Blackboard is configured properly. One team member should enroll the team. If you do not have a team by January 17, email me and I will address this. No changes in team composition will be accepted after the second class. You are indeed

stuck. All teammates will receive the same grade on team submissions. You will have the

opportunity to evaluate your teammates in a peer review process at the end of class.Blackboard communicationCourse communication will take place through announcements in class, emails, and onBlackboard (blackboard.usc.edu). All emails will go through Blackboard; therefore, it's imperativethat you have a fully operational Blackboard account with a current and correct email addressposted. You are responsible for regularly checking Blackboard for announcements and newmaterials as well as to deliver your assignments. Emails rejected because your account is fullwill not be resent.

Assignment formats No hard copies will be accepted for any work. Submit everything on Blackboard.

A l l s u b m i s s i o n s m u s t b e i n P D F fi l e s l a b e l e d a s f o l l o w s :Yourlastname_assignmentname_551. No other formats are accepted, including Word,Pages, OpenOffice, GoogleDoc, PowerPoint, Keynote, or others.

Team submissions should be labeled by the last name that appears in an alphabetical list;i.e., a team of Adams, Jones, Schubert would be labeled as Adams_Assignment_551. Ifthere are two Adams in the class I will ask you to add your first initial; ie

JAdams_Assignment_551. If you make an error and submit the wrong file, do not email it to me. The version on

Blackboard is the final submission. Blackboard will not accept multiple submissions. I will post all responses to your assignments in Blackboard. It is highly encouraged that

you review these before the end of the semester.

Documents must be written in 12 pt Times New Roman or a similar font, with 1margins, and single-spaced.

All documents exceeding 1 page in length must have headers containing page numbersand the file name on all pages.

Deadlines All assignments must be posted to the Blackboard assignment page by 6:30 pm on the

due date posted in the Schedule of Assignments. Note that some due dates are not thesame as class meeting dates.


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mailto:[email protected]:[email protected]

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If you will not be in class on the due date, your assignment must still arrive by on thedue date.

Teammates are encouraged to verify the timely submission of group assignments. You are certainly encouraged to submit files before the deadline.Please keep copies of

all your files and emails until the end of the semester. No hard copies will be accepted. Ever!

PenaltiesAssignments will be accepted after the deadline with the following penalties:

Assignments turned in after the required time on the due date but within 24 hourswilllose 10% of the total points possible.

Papers turned in 24 hours after the due date will lose 20% of the total points possible. No papers will be accepted 48 hours after the date due.

Correcting grading errorsIf you do not inform me of missing or incorrect grades within two weeks of the grades being

posted, the grades will be assumed correct. Do NOT wait until the end of the semester tocheck your grades or to appeal a grade on any assignment.

Evaluation of classroom participationThe attendance, participation, and in-class exercises portion of the grade is 200 points and isevaluated in a number of ways. Obviously, participation requires attendance. It is impossible toearn a participation grade if you are not in class. Missing more than one class sessionduring the semester will affect the participation grade.

Evaluation schemeTo achieve an A or A- in this class, you will need to go well beyond the minimum requirementsas stated in the syllabus in terms of the quality of your work and your involvement in andcontribution to the class. An A is a sign of superior work and, much like the efforts ofentrepreneurs, reflects the fact that you stood out from the crowd.

Schedule of assignments

Due date Assignment Scoring Max # of

pages

Points

1/16 Team assignment

2/4 Entrepreneurial self-assessment Individual 1 100

2/20 E-challenge Team 3 400

3/29 Case analysis Individual 3 500

4/22 Pitch/due diligence (PDD) I Team 4 slides or 2

pages

300

4/29 PDD II Team 4 slides or 2pages

300

5/1 Peer assessment Individual 1 100

5/1 Final self-assessment Individual 1 100

Participation Individual 1 200

Total possible points 2,000


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Course planWeek Date Readings Topics Deliverable

1 1/14 Entrepreneurship

Critical thinking

E-challenge preparation

Class introductions

Team selection

2 1/21 NYT avalanche No class3 1/28 Can entrepreneurship be

taught?

What makes entrepreneursentrepreneurial?

The Innovators DNA

Discovery Skill #4:Networking

Entrepreneurial thinking

Opportunity identification

Value propositions

PDD assignments

4 2/4 Business models

Dropbox

Speaker: Matthew Goldman, CEO, WallabyFinancial

Business modelsFinancial analysis

Entrepreneurial self-assessment

5 2/11 Is it real?

Xiameter

Corporate entrepreneurship

Disruptive innovation

Industry and market analysis6 2/18 No class E-challenge7 2/25 E-challenge review8 3/4 Founders Dilemma

Energy Bar

Speaker: John Waller, angel investor; CEO,X1 Technologies

Ethics

Financing a company9 3/11 Experiential Learning Center exercise

10 3/18 No class (spring break)11 3/25 Shutout Solutions No class (Passover) Case analysis12 4/1 Pre-start analysis

Models of EntrepreneurialAcquisition

Shutout Solutions

Entrepreneurship through acquisition

13 4/8 Competing by Connecting

ust Us Cafe

Speaker: Andy Wilson, CEO, Rexter

Social entrepreneurship14 4/15 Speaker: Vacit Arat, CEO, Vantage Surgical

Pitching15 4/22 Early Stage Vignettes Pitch night I PDD I reports16 4/29 Sand Hill Angels Pitch night II PDD II reports

Peer assessmentsSelf-assessments


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