Popular in Course
Popular in Business, management
This 47 page Class Notes was uploaded by Ms. Scottie Brekke on Wednesday September 23, 2015. The Class Notes belongs to MGMT260 at Drexel University taught by StevenTaub in Fall. Since its upload, it has received 19 views. For similar materials see /class/212569/mgmt260-drexel-university in Business, management at Drexel University.
Reviews for IntroductiontoEntrepreneurship
Report this Material
What is Karma?
Karma is the currency of StudySoup.
Date Created: 09/23/15
MGMT 260501701 CRN 1145914979 Introduction to Entrepreneurship LeBow College of Business Drexel University Fall 2009 Time 6 pm 950 pm o Wednesdays Location Matheson 208 Instructor Steven I Taub PhD ffice Academic 301 Office Hours By Ap ointment1 EMail sit23 drexeedu Office Tel 610 2131224 1 Course Description A Overview This course focuses on entrepreneurship as a generic activity including startups and corporate entrepreneurship It explores the opportunities and challenges faced by individuals starting up new ventures and the probable paths of career development for students pursuing entrepreneurship In addition to acquiring knowledge regarding the entrepreneurial process the course endeavors to help students move from a consumer orientation to a producer orientation and to learn entrepreneurial project management through participation in teams Students who complete this course are able to credibly assert whether a business opportunity should be exploited by launching a new venture and how to assemble the resources necessary to launch the new venture Historically entrepreneurship has been taught with a heavy focus on the behavior of individual entrepreneurs Students are taught that a daring risk taking motivated hardworking entrepreneur can overcome all obstacles to build a successful new company and become rich in the process As a result many students have become enamored with the idea of starting a company Often they start companies based on products or processes that cannot be designed or developed or at least not in a costeffective manner Moreover they fail to identify valuable opportunities or opportunities for which true customer needs exist and for which sustainable competitive advantages can be developed by new firms This course is designed to help students learn to identify evaluate and obtain control over opportunities that can be exploited by launching new ventures The course focuses on four themes 1 entrepreneurial opportunities 2 business feasibility analysis 3 the business plan and 4 planning for growth and change B Student Strategies for Succeeding in this Course 1 In your email requesting an appointment to meet with me please be sure to 1 indicate the section in which you are enrolled 2 suggest dates and times to meet and 3 indicate your schedule for the days on which you would like to meet so that I can suggest alternatives if I am already booked at the time you request 5252011 1 DU120 Students who intend to remain enrolled in this course are stronqlv advised to read this syllabus in its entirety before the class meets for the second time Failure to do so is likelv to result in vour severe underperformance on the first few assignments While in some courses an effective student strategy is to determine the least amount of work necessary to get the highest possible grade in this course student strategies should include determining the least amount of work necessary to produce a credible Business Feasibility Study that would either a convince an investor from the real world to commit funding to your proposed business or b convince an investor that you are correct in asserting that your business is in fact not feasible The business concept that you investigate must be a newtotheworld singleproduct business that has the potential to become an intermediate or highpotential venture Business concepts that are likely to result in lifestyle ventures eg janitorial services firms pet grooming firms etc are not suitable business concepts for this course Additionally hotels restaurants bars tanning salons etc are not suitable business concepts for this course Students frequently report that they work much harder in this course than in other courses Students also frequently report that they learn much more in this course than in other courses We believe that these two facts are highly correlated Additionally the facts are these 1 To be successful entrepreneurs must know the basics of every aspect of business Thus to successfully learn the basics of entrepreneurship a course such as this one has to cover a lot of material 2 The best paying jobs and the most successful startups in the real world are helmed by professionals who can successfully manage their time while working hard both individually and on teams If you take your role in this course seriously and focus on getting the work done you may find that you are more qualified at the end of the course than at the beginning of the course to work in a high paying job 3 Many previous students report that conducting an Industry Analysis and a Market Analysis is the hardest part of the course because this is the first time that they have had to produce analysis that is not the result of simply making stuff up However once students have gone through the process and truly learned how to use the tools that are available and how to produce the work many of the same students report that they could very quickly complete future Industry and Market Analyses And again these are skills that are in demand in the real world 4 Almost 1000 students have taken this course since September 2005 and reactions to the course have been overwhelmingly enthusiastically positive The conceptual framework for this course is depicted visually in the inside cover of the textbook This course makes extensive use of BlackBoard Bb Vista formerly known as WebCT A diagram of the structure of the BlackBoard Bb Vista course website is provided below 5252011 2 DU120 Structure of Course WebSite McMTzsn Hume Page lnlruduclury Text Organizer Pages SyHabus mqu Assignmpm Mum I Quizzes Assignments PowerPoint Slides URLs Figure 1 Structure of Course Bb Vista Website II Class Format The course is comprised of interactive lectures class discussions team work and presentations It is important that you participate in the discussion of the readings for each class so that you can reinforce and extend your understanding of the key concepts of the course Additionally participating in the discussion is your primary opportunity for earning Impression Management points The facts are these Very few professionals enjoy successful careers simply by keeping their head down and not saying anything in executive meetings For you to be recognized for promotion and raises in a com ny you need to make a good impression by demonstrating your capabilities nd by actively contributing to ongoing weekly discussions about topics of concern to the organization Similarly in this course you need to make a good impression by coming to class on time and by actively participating in the conversation at hand Additionally you will need to submit work by a deadline every week Although this course meets only once or twice per week depending on the section in which you are enrolled it carries the work load of a 4 credit course Also it is important to keep in mind that teamwork is a very significant component of this course speci cally 430 out of 1130 available points ie approximately 3805 of your total grade derive from the team based Business Feasibility Study The vast majority of successful intermediate and high potential ventures run on teams rather than on lone wolf entrepreneurs accordingly this course also runs on teams Additionally it bears noting that one of the key criteria that hiring managers use when attempting to fill a position these days is the ability to work well on a team a a E12 L 911 3 DU2I III Readings All required readings come from the textbook Allen Kathleen R 2008 Launching New Ventures An Entrepreneurial Approach HoughtonMifflin Publishing 5th ed Note All students in this course must purchase the textbook New and used copies of the textbook are available in the Drexel University Bookstore and at fine onine bookstores everywhere If the bookstore runs out of books Amazoncom and other etailers will be delighted to ship the book to you overnight If after Week 01 you report that you could not complete your homework because the bookstore ran out of books and you did not order your book online soon enough you will receive my condolences and zeroes for any assignments that you have missed I also recommend but do not require the following for anyone interested in the world of technologybased entrepreneurship The Economist Fast Company Ire The Wall Street Journal IV Objective and Outcomes The objective of MGMT 260 Intro to Entrepreneurship is to enable students to learn the fundamentals of entrepreneurship and the process of launching new ventures by having them systematically investigate and report in teams the business feasibility of a singleproduct company The company must be premised on a newtotheworld product that the students themselves conceptualize The company must also have the potential to engender profits on a scale commensurate with an intermediatepotential venture 110 million dollars in revenuesyear or highpotential venture 10100 million dollars in revenuesyear In addition to learning about the process of launching new ventures students will also learn skills and behaviors related to teamwork principles of good leadership and good followership planning writing strategic thinking entrepreneurial thinking and making professional presentations V Grading There are no exams in this course Yay The Business Feasibility Study see BFS outline posted on Bb Vista is completed in teams and serves as a final exam Drafts of sections of the feasibility study will be due throughout the term These drafts will be graded and will receive feedback useful for improving the next draft The primary deliverables in this course are described below Please note that this course makes extensive use of Bb Vista Online Quizzes and other homework assignments must be submitted through Bb Vista on a weekly basis The weekly workload is not onerous but in the past some students have failed to plan for enough time to complete and submit their assignments before the deadline Those students received a grade of zero 0 for the deliverables that were not 5252011 4 DU120 delivered on time2 Also please note that this course involves extensive team work Please understand that at the end of the guarterl I must factor the value of your contribution to your team s entire Business Feasibility Study into your final grade People who do less work or work of lesser value earn a lower grade This is no different from the real world where people who do easy work get paid a minimum wage The components that make up student grading in this course are listed below in Table 1 A guide to converting from percentages to a letter grade is provided in Table 2 An image of the BlackBoard Vista gradebook that you can access in order to check your current grades is provided in Figure 2 Course grades will be determined using the guide in Table 2 below Exactly one A will be awarded each term and only if exceptional performance has been consistently demonstrated In addition to the abovementioned objective criteria on very rare occasions I do factor the efforts of exceptionally hardworking but underperforming students into the final grade Table 2 Guide to converting from percentage to letter grade 2 To see why developing a habit of completing tasks on time is an essential business skill consider the following analogy If you order a Domino s pizza on Monday and Domino s finally delivers the pizza to you on Wednesday chances are pretty good that Domino s is not going to get paid 3 At the end of the quarter if you have an excused absences I will compute your average class participation score and use it for the days on which you had an excused absence 4 The quiz for chapter 02 is a practice quiz Any questions you answer correctly will count in your favor Any questions you miss will not count against your final grade 5 Even with team assignments it is not necessarily the case that every team member receives the same grade I strongly encourage you to read this syllabus in its entirety in order to understand why this is the case 5252011 5 DU120 lt6000 Note 1 Occasionally students will forget to complete an assignment on time and will ask me for a busywork assignment to make up for the missed assignment Unfortunately I cannot create an additional quotbusyworkquot extra credit assignment for individual students because it would be an unfair diversion of their time away from their group39s efforts toward completing the assignments related to Business Feasibility Study Even though this is not the answer for which students are hoping in these cases it is my sincere hope that that the students will understand that this decision and my willingness to be completely transparent with my reasoning represents best practices in management and will ultimately better prepare you to compete in the business world Note 2 Occasionally students will ask me What is my grade Unfortunately reporting grades is a process that takes up to a day to complete Additionally the process can only begin once all of the assignments in the course including the confidential peer evaluations have been submitted which does not occur until the end of the quarter The best course of action for students interested in knowing their current grades before the quarter is complete is to use the BlackBoard Bb Vista grade book feature to monitor their progress Note 3 Shirkers should factor in a minimum of a 200 point deduction when calculating their final grade In the real world shirkers are not rewarded for their lack of efforts there is no reason to reward a shirker in this course NOTE Nongraduating students who perform at superior levels in this course are strongly encouraged to investigate the 20092010 AY 18000 William G McGowan Scholarship This scholarship was first awarded at Drexel University in 2006 and at least one student who completed this course in a previous term has been named a recipient of this scholarship The application period is approximately December 15 April 1 Please contact for details mm s I inquot 1 gmmu m junD mnnm 52 2011 6 DU120 Figure 2 Sample of BlackBoard Vista Gradebook feature A Attendance 0100 Series Grades We have 10 or 20 o ortunities to meet this term de endin on which section ou are enrolled and I take absences ve seriousl If ou know before a scheduled class that zou are not going to be able to attend class please send me an email before class and let me know why zou cannot attend In principle if you arrive on time or before class begins you will be marked PRESENT If you arrive after the scheduled time for class to begin you will be marked LATEUNEXCUSED unless you have and present to me in class and via email within 24 hours of class a valid excuse in which case you will be marked LATEEXCUSED6 If you do not come to class you will be marked ABSENT UNEXCUSED unless you have a valid excuse in which case you will be marked ABSENTEXCUSED Whether a student is marked ABSENTEXCUSED or ABSENT UNEXCUSED is at the instructor s discretion and depends on the student s circumstances so it is important that students communicate their circumstances honestly and effectively in person AND with a followup email A student who is frequently late regardless of whether it is EXCUSED or UNEXCUSED will receive a stiff penalty on their final grade NOTE Attendance records can be checked via BlackBoard Vista if a student does not report a discrepancy in hisher attendance record to the instructor within one week after the grade was posted no changes will be made to hisher attendance record 10 SESSION SECTION ENROLLEES Students enrolled in a 10 session course will be allowed a maximum of two ABSENTUNEXCUSEDs during the quarter students should still notify the instructor ahead of time if possible A student s final grade will go down by one full letter grade ie A Egt B Egt C for each additional ABSENTUNEXCUSED If a student is ABSENTUNEXCUSED or ABSENT EXCUSED or any combination of ABSENTUNEXCUSED and ABSENT EXCUSED for 5 or more classes she will receive a final grade of F if she does not formally withdraw from the course first 6 NOTE Sending a text message to your classmates and asking them to tell me that you are going to be late is not sufficient effort to convert a LATE UNEXCUSED into a LATE EXCUSED Professional norms require you convey the message to the instructor yourself 5252011 7 DU120 The BIackBoard Vista gradebook nomenclature for attendance grades in 10 session section enrollees is provided below 0101 Attendance Session 01 0102 Attendance Session 02 0103 Attendance Session 03 0104 Attendance Session 04 0105Attendance Session 05 0106 Attendance Session 06 0107Attendance Session 07 0108 Attendance Session 08 0109 Attendance Session 09 01 1 0 Attendance Session 1 0 20 SESSION SECTION ENROLLEES Students enrolled in a 20 session course will be allowed a maximum of four ABSENTUNEXCUSEDs during the quarter Students should still notify the instructor ahead of time if possible A student s final grade will go down by one full letter grade ie A Egt B Egt C for each additional ABSENTUNEXCUSED If a student is ABSENTUNEXCUSED or ABSENT EXCUSED or any combination of ABSENTUNEXCUSED and ABSENT EXCUSED for 10 or more classes she will receive a final grade of F if she does not formally withdraw from the course first The BIackBoard Vista gradebook nomenclature for attendance grades in 20 session section enrollees is provided below 0101 Attendance Session 01 0102 Attendance Session 02 0103 Attendance Session 03 0104 Attendance Session 04 0105 Attendance Session 05 0106 Attendance Session 06 0107 Attendance Session 07 0108 Attendance Session 08 0109 Attendance Session 09 0110 Attendance Session 10 0111 Attendance Session 11 0112 Attendance Session 12 0113 Attendance Session 13 0114 Attendance Session 14 0115 Attendance Session 15 0116 Attendance Session 16 0117 Attendance Session 17 0118 Attendance Session 18 0119 Attendance Session 19 0120 Attendance Session 20 B Impression Management 0200 Series Grades 20 points x 10 classes for 10 session enrollees 10 points x 20 classes for 20 session enrollees Impression management is the process through which people try to shape and control the impressions that other people form of them Impression Management Theory and International Relations Theory is predicated on the belief that perception is reality In the corporate world and in the world of entrepreneurship it is easy to make a bad impression and difficult to make a good impression Nonetheless it is essential for your professional success that you consistently make manage and maintain a great impression Similarly in this course it is essential for your success that you consistently strive to make manage and maintain a great impression Some ways that you can achieve this goal include but are not limited to consistently having read the assigned readings before class actively and meaningfully participating in class discussions consistently behaving in a manner consistent with that of a fast track young executive consistently completing assignments on time and being prepared to work and contribute during class consistently coming to class on time Impression Management grades will be determined based on the 52 2011 8 DU120 instructor s subjective assessment of the impression you create A great impression will result in GREAT IMPRESSION appearing in your BB Vista online grade book this translates to 20 10 points A good impression will result in GOOD IMPRESSION appearing in your BB Vista online grade book this translates to 10 5 points A complete failure to impress a failure to attend class without a valid excuse or a negative performance in class will result in ABSENT appearing in your Bb Vista online grade book this translates to zero points Occasionally students earn an IMPRESSION MANAGEMENT grade of COMPUTER This also translates to zero points The BIackBoard Vista gradebook nomenclature for impression management grades for 10 session section enrollees is provided below Students 0201 Impression Management Session 01 0202 Impression Management Session 02 0203 Impression Management Session 03 0204 Impression Management Session 04 0205 Impression Management Session 05 0206 Impression Management Session 06 0207 Impression Management Session 07 0208 Impression Management Session 08 0209 Impression Management Session 09 0210 Impression Management Session 10 The BIackBoard Vista gradebook nomenclature for impression management grades for 20 session section enrollees is provided below Students 0201 Impression Management Session 01 0202 Impression Management Session 02 0203 Impression Management Session 03 0204 Impression Management Session 04 0205 Impression Management Session 05 0206 Impression Management Session 06 0207 Impression Management Session 07 0208 Impression Management Session 08 0209 Impression Management Session 09 0210 Impression Management Session 10 0211 Impression Management Session oooooooooo oooooooooo o N H U1 3 390 i m m 2 o 3 3 DJ 3 D u m 3 m 3 n U m m 2 o 3 D D D D D D D D H noooummAwNH 0220 Impression Management Session 20 C Quizzes 0300 Series Grades 16 Online Quizzes x 20 points each Online quizzes made up of questions taken from the assigned readings will be available online at the BIackBoard Vista course website Please comglete the assigned guizzes by the deadline These quizzes are openbook not open friend This means that you are required to complete the online quizzes without assistance from others Just because the deadline is Tuesday evening does not mean that you must wait until Tuesday evening to begin the quiz NOTE The page for completing the Online Quizzes that are due will disappear from BIackBoard Vista at the 0959 pm on the night before the class for which they are due I strongly encourage you to use a calendar or a planner and write all the due dates for this course in the calendarplanner at the beginning of the course 5252011 9 DU120 The BIackBoard Vista gradebook nomenclature for quiz grades is provided below 0302 Quiz ch027 0311 Quiz ch11 0303 Quiz ch03 0312 Quiz ch12 030405 Quiz ch04 amp Ch05 0313 Quiz ch13 0306 Quiz 06 0314 Quiz ch14 0307 Quiz ch07 0315 Quiz Ch15 0308 Quiz Ch08 0316 Quiz Ch16 0309 Quiz Ch09 0317 Quiz ch17 0310 Quiz ch10 0318 Quiz Ch18 0319 Quiz Ch19 Remember Beginning in Week 02 two quizzes are due at 0959 pm every week on the same day I standardize the submission due dates and times for Quizzes in this course in order to avoid confusion Please do not wait until one hour before the 39 to begin taking the quizzes D Assignments Individual 0400 Series Grades 7 Various Assignments The following assignments should be completed by the dates indicated in the Course Assignment Schedule This document is available as Appendix B in this syllabus 0401 Demographics 81 E0 Worksheet 10 points 0402 Resume Upload 10 points referral to Career Advisory Center if needs improvement 0403 My Business Concept ListI 20 points 0404 My MBPI Jungian 20 points 0405 My Creativity Index 20 points 0406 My Business Concept List 11 50 points 0407 Peer Evaluation Form Part of Final Examquot Your final grade goes down significantly if you do not submit this by the deadline E Assignments Team 0500 Series Grades 8 Various Assignments Seven of these assignments are related to the Business Feasibility Study The following assignments should be completed by the dates indicated in the Course Assignment Schedule This document is available online as an excel spreadsheet and as Appendix B on page 34 of this syllabus 0501 Business Model Presentation 50 points 0502 Team Business Concept 81 Division of Labor List 80 points 0503 Elevator Pitch 81 Slides 45 points 0504 BFS Rough DraftI 50 points 0505 BFS Rough Draft 11 125 points 0506 BFS Presentation 81 Slides 55 points 0507 VC Assessments of Peer Presentations 25 points 0508 BFS Final Paper Exam Date 50 points 7 This is a practice quiz Any incorrect answers will not count against you Any correct answers will however be recorded in your favor This is the only quiz that is not mandatory It is also the only quiz that is not due on a Tuesday evening If you cannot see all the quizzes in Bb Vista on one page you need to adjust your Bb Vista settings Typically students who have not adjusted their Bb Vista settings believe that there are no more quizzes around quiz 13Look in the bottom righthand corner of the screen 5252011 10 DU120 NOTE I do not post grades for assignments 0502 0508 to BlackBoard Vista as posting the actual scores can lead to gaming the system by one or more teammates However some previous students have expressed their concern that the ambiguity of not knowing their 0502 0508 grades was too disconcerting for comfort In response I have developed a system that records the relative ranking for each BFSrelated assignment across time and across groups What this means is that you are competing against yourself ie you need to improve with every 0500 assignment and you are competing against other teams ie you need to produce better higherquality more credible work than other teams for each 0500 series assignment This approach is depicted visually in Figure 3 below Just like in the real world your team s goal should be the relentless pursuit of continuous improvement and perfection in completing the BFS Your teammates and 1 supply more written and oral feedback than any other course at LeBow to help you achieve this goal I know that you are not accustomed to this approach with regard to grades and assignments but literally hundreds of previous students have helped me to develop this technique If they based on the feedback you receive 1 am happy to report the unadjusted group 05020508 grades to any student that is willing to make an appointment to meet with me in my office FF rr T Teams producing the best work for each individual 0500 series assignment ea igher rankings just like in the real world Figure 3 Multiple approaches to evaluating 0500 Series Assignments 430 points in play F Extra Credit 0600 Series Grades When a Baiada Center event is held that dovetails with the topics associated with this course I am happy to offer students an opportunity to attend the event for extra credit These extra credit events are not mandatory To receive extra credit you must register for and attend the event Subsequently a one paragraph summary of what you learned at the event must be submitted via BlackBoard Vista by 1159 pm the day after the event The number of 5252011 11 mmquot points for these extra credit assignments will not be determined until after the end of the quarter However no amount of extra credit can adequately compensate for not attending andor not participating in class The Baiada Center events that qualify for extra credit are listed on the Course Assignment Schedule To register for Baiada Center events please visit the following link htt wwwlebowdrexeledu Centers Baiada Calendar h Note Bb Vista has a few programming quirks One of these quirks becomes apparent with the 0600 series assignments Basically from a student view it will seem like a 0600 extra credit event is overdue at the moment the event is scheduled to begin However you will still be able to type your summary of the event into Bb Vista up until 1159 pm the day after the event Complicating matters if you submit your summary before the deadline Bb Vista will indicate that you are late As long as you do everything in accordance with the syllabus I will be able to see your paragraph and I will enter SMH into your Bb Vista gradebook 5252011 12 DU120 00 POLICIES 00 Academic Honesty o In order to protect and maintain a superior learning environment at LeBow College of Business all students must review and adhere to Drexel University s Academic Honesty Policy For details see httpwwwdrexeledqutudentlierstudenthandbookgHandbookhtml see Code of Conduct under Judicial Affairs 0 Forms of academic dishonesty include plagiarism fabrication cheating and academic misconduct Students are responsible for the authenticity of material submitted both for individual and group work 0 The Hagerty Library offers a brief online tutorial for recognizing and avoiding plagiarism at htt wwwlibra drexeledu resources tutorials la iarism la iarismhtm Special Needs The University is committed to equal opportunity for students with disabilities If you have a physical or learning disability you should ask the Office of Disability Services ODS httpwwwdrexeleduODS to identify you to the Instructor so that appropriate accommodations may be provided Personal Crises The Counseling Center 201 Creese Student Center httpwwwdrexeledqutudentlierChZCC Mainhtml provides free confidential counseling services provided by mental health professionals These services are available to all currently enrolled undergraduate and graduate students At some point in your time at the University you may find yourself facing a personal crisis or dealing with issues that feel overwhelming The Counseling Center can assist you with sorting things out and by suggesting strategies to ease to better understand or to resolve the situation You can walk in to the Counseling Center if you are in crisis and be seen immediately or you can schedule an appointment The Counseling Center is open Monday through Thursday 8 am until 6 pm and Friday 8 am until 5 pm You can make an appointment by phone or in person Students on co op can arrange for an evening appointment To make an appointment call 215 895 1660 email counselingdrexeledu or visit the Counseling Center 201 Creese Student Center In case of emergency you may contact the Counseling Center at 215 895 1660 for assistance 247 If you call after hours then you will probably get a recording that provides another number to call Please contact the Counseling Center for additional information or visit their website at httpwwwdrexeleduch Addressing the Instructor You may address me as Dr Taub or as Professor Taub Mr Taub will always be my father to avoid confusing me please refrain from addressing me as Mr Taub 5252011 13 DU120 Disclaimers amp Riders 1 lquot S 45 5252011 14 The instructor reserves the right to change any part of this syllabus at any time In principle due dates are non negotiable However if you Add this course after Week 01 you may be granted an extension on assignments and quizzes that were due prior to your entry into the course After the course Drop Add period ends the due dates for assignments for late enrollees are non negotiable Late work will not be accepted unless you suffer from a health family or business emergency Occasionally students will ignore item 2 above and when they forget to complete an assignment on time they will email the instructor and ask him or her for a busywork assignment to make up for the missed assignment Unfortunately the instructor cannot create an additional quotbusy workquot extra credit assignment for individual students because it would be an unfair diversion of their time away from their group39s efforts toward completing the assignments related to Business Feasibility Study Even though this is not the answer for which students are hoping in these cases it is the instructor s sincere hope that that the student will understand that this decision and the instructor s willingness to be completely transparent with hisher reasoning represents best practices in management and will ultimately better prepare the student to compete in the business world If at any point in time you feel the need to be dishonest with the instructor please withdraw from the course When communicating by email you will make a very favorable impression if your messages are polite professional grammatically correct and free of spelling errors A favorable impression is a very good thing to make as it helps the instructor whenever he or she has to make a judgment call regarding a final grade in the course or whenever he is requested to write a letter of reference for potential employers andor graduate school programs If the instructor contacts you by email and you are the only recipient of the email ie the email is addressed to you rather than the entire class then you must send a reply to the instructor Think of this as a game of catch the instructor throws you the ball and you must throw it back This rule is firmly established within the rules of etiquette and excellence in business communications Please be advised that users are known to have difficulty accessing BlackBoard Vista during the hours of 0200 am and 0500 am These are the hours when the BlackBoard Vista servers undergo a data backup process When you experience problems accessing andor using BlackBoard Vista regardless of the hour please immediately send an email to oltdrexeledu and copy me sit23drexeledu Your message should be grammatically correct professional in tone and should describe the nature of the problem in as much detail as possible If you do not send an email to oltdrexeledu and CC me reporting your problem and you contact me after the deadline for completing the weekly Quizzes andor Assignments you will receive some sympathy from me but no points You will however receive the following message Please see item seven in the Disclaimers amp Riders section of the course syllabusquot If the tone of your email to oltdrexeledu is rude or unprofessional or riddled with errors your final grade will be affected negatively As soon as teams are formed you are strongly encouraged to exchange contact information Additionally you will need to discuss each other s school and work schedule in order to identify if you are able to meet in person as a group or if you will need to work together virtually and asynchronously One way to drive yourself crazy is to convert every grade in this course into a percentage score In a course like this one sometimes points are just points and they really cannot and should not be converted into a letter grade DU120 10 H H H H H H H H H N N N 5252011 I want my students to make mistakes Making mistakes in a classroom creates an opportunity to learn Making mistakes in a corporate meeting room also creates an opportunity to learn but the consequences of making mistakes in a corporate setting vis a vis your career can be quite negative Except in extraordinary circumstances married couples siblings cousins etc will not be permitted to be on the same team I have very good reasons for this rule please feel free to ask me offline In terms of temperament as long as students are learning and making honest mistakes which are great opportunities for learning the instructor has a very long fuse This means that in order for this instructor to become angry an individual would have to try very hard to make the instructor angry With this in mind if a student has a concern about any aspect of this course including the teaching methods employed the student should feel very safe scheduling an appointment to meet with the instructor and discuss that concern The student may not hear what he or she wants to hear from the instructor but his or her concerns will be treated with respect If you are an international student please identify yourself as an international student to the instructor on the first day that you attend class If you are a student with documentation from the Office of Disability Services please present your documentation to the instructor by the second day that you attend class If zou do not gresent documentation from the Of ce of Disability Services glease understand that I cannot grovide sgecial accommodations for zou If you suffer from migraines or another chronic medical condition I cannot make any special accommodations for you until you provide me with documentation from the Office of Disability Services The instructor not only teaches the point that networking is a mission critical activity in a person s professional and personal life heshe also lives by it Consequently sometimes the instructor can provide the contact information of people he meets through networking with his students But sometimes he cannot share certain contacts information and students need to respect this fact of life This is a business course and the instructor runs it as if he were running a business Please be professional in all that you say think or do The MGMT 260 classroom is a computer free zone When class starts computers need to be shut off You may however briefly use a laptop to get a presentation file or other assignment related to the course If you are uncertain of what is expected of you then ask If it is really important then do NOT ask via email instead request an appointment to meet with me and ask in person If you have concerns about one or more of your teammates it is better to schedule a meeting with me to discuss those concerns sooner rather than later If you choose to not bring the problem to my attention until the end of the quarter it is highly likely that I will not be able to help you to remedy the situation In the business world it is completely inappropriate to compare salaries with your colleagues Similarly in this course it is completely inappropriate to compare grades with your colleagues I will unilaterally deduct an average of 200 points from the final grade of anyone that I determine to be a shirker aka a free rider Shirkers who attempt to calculate their final grade on their own should as a general rule subtract 200 points Determining DU120 exactly who is a shirker is solely my discretion If you feel uncomfortable with this policy particularly if you are a shirker and you are planning to protest your final grade you should either drop or withdraw from the course N U All 0500 series grades are subject to intense scrutiny by me Individuals working on the same team may not receive the same number of points for the same assignment if I determine that some individuals are working harder than others I enforce this policy in order to create incentives for everyone on your team to work hard and to pull their weight One quarter after submitting the first rough draft of the Business Feasibility Study a team leader quietly expressed to me hisher frustration that only 3 out of 6 teammates had done any work on the rough draft When I provided my feedback on the first rough draft 1 indicated that it was clear to me that not everyone was pulling their weight and that I would have no trouble failing the shirkers on the team This significantly improved the three shirkers performance for the second rough draft Hopefully it is clear to the reader that I enforce this policy for the benefit of all the students in the course Further it should be clear that this policy reflects the real world Finally please note that your continued enrollment in this course indicates your agreement with this policy and all other course policies N A Sometimes students ask me if they are required to wear business attire when they give a presentation in MGMT 260 As someone who only recently finished paying for his own undergraduate education I am always mindful of the sacrifices that students make in order to pursue a university diploma And I never want to add to the financial burden associated with obtaining that goal So although I personally believe the studies that find good correlations between dressing for success and success in the business world the basis of competition in MGMT 260 is the strength of student ideas and research efforts NOT the strength of their wardrobe Students may wear whatever they choose as long as their wardrobe choice is not morally offensive and does not distract from the primary goal of a good education for all course stakeholders N U39l Although I have attempted to provide very explicit directions throughout this syllabus sometimes students do not earn a perfect grade on an assignment for which they have scrupulously followed the directions Not every challenge in life can be faced successfully by following a recipe For better or for worse the same is occasionally true in this course It is my hope that when such an occasion arises students will be able to see and remain focused upon the learning opportunities present in the occasion Please keep this in mind particularly when receiving feedback on 0403 and 0406 N 0 If you are upset with your final grade in the course and you decide to approach your teammates and demand that they send you a copy of the confidential peer evaluation form that they submitted to me then please know that I reserve the right to retroactively assign you a failing grade for the course and I will not hesitate to exercise this right I have very good reasons for maintaining this policy feel free to ask me offline what led me to institute this policy N l Alchemy does not exist You cannot turn a bad business concept into gold N 02 The only way to make a pearl is to add friction N k0 Final grades are non negotiable O O Students have a right to fail this course The instructor sincerely hopes that students will not exercise that right but he does respect that right 5252011 16 DU120 Appendix A Directions for Assignments INDIVIDUAL ASSIGNMENTS 0401 Demographics amp EO Worksheet 10 points Complete this worksheet front and back and submit it to the instructor by the end of the first class 0402 Resume Upload 10 points Please save your most recent resume using ltYOURLASTNAMEdocgt as the file name and upload it to the BlackBoard Bb Vista course website in either MS Word or Adobe PDF format Please print a hard copy and bring it to class on the specified due date This assignment enables you to test whether your computer is properly configured for uploading assignments to BlackBoard Vista Also I examine your resume in order to get a better sense of who you are If your resume is lacking Iwill encourage you to meet with an SCDC or LeBow Career Services professional for resume counseling Your resume is the equivalent of a 30second television commercial Please do not allow your resume to portray you as a usedcar salesperson on a late night television commercial 0403 My Five Business Concepts Attempt 1 20 points Use the ideas from Chapters 03 04 and 05 to develop five 5 business concepts that you may want to use as the basis for conducting a Business Feasibility Study in this course The business concepts you produce should articulate a new totheworld product These business concepts should also have the potential to engender profits on a scale of an intermediatepotential venture or highpotential venture In completing this assignment you must use the format in the gray box below for each of your business concepts If you do not use this format you will not receive credit for this assignment To receive credit each business concept must be predicated on a product that is new to the world ie opportunity recognition N1 or opportunity creationbuilt from scratch and which can be attached to a business model that will result in an intermediatepotential or highpotential venture8 Business Concept X Name of Product or Company Name A Product DefinitionDescription What is the product B Value Proposition and Compelling Story Why is this product interesting what burning pain does it resolve and how is it different from existing products C Customer Definition Who is the customer What is the total number of potential customers D Distribution How will the product go from being raw materials to being processedmanufactured to being distributed and finally to being sold to the customer 8 This will make more sense to you if you have completed the assigned readings for Chapters 03 04 and 05 5252011 17 DU120 Instructions for Uploading to BlackBoard Vista Step 1 Write a list of 5 business concepts Be creative Employ concepts from chapters 03 04 and 05 Step 2 Save your list as an MS Word file Step 3 Print a hard copy of your list REMEMBER to bring it to class Step 4 Click on the Assignments organizer page on the BlackBoard Vista homepage for our course Step 5 Upload the MS Word file of your venture list Step 6 Bring a hard copy to class NOTE PAGES 1824 OF THIS SYLLABUS CONTAIN VERY VALUABLE INFORMATION ABOUT COMPLETING 0403 SUCCESSFULLY PLEASE READ THESE PAGES BEFORE A39I39I39EMPTING 0403 This is the most dif cult 0400 series assignment you will encounter If you feel frustrated angry andor upset while you are working on this assignment then you are probably doing it correctly One of the points of this assignment is to gain deep insights into the difficulty of articulating a business concept that is likely to be feasible It is highly likely you have never taken a course where the instructor expects you to fail an assignment so that you can succeed later in the course and later in life However this is not an ordinary course Once we complete 0403 0406 and 0502 upon reflection you will realize that you had to struggle through these assignments and you had to learn how to fail to articulate a good business concept before you could learn to think more like an investor and more like an entrepreneur and less like a student By 0406 or 0502 even if you have been unable to articulate a good business concept it is likely that you will be able to recognize what makes a business concept more or less likely to succeed Based on past experience with this course and based on recommendations from previous students the following kinds of business concepts are not permitted Services Note Sometimes a product has a service component This is acceptable and is also described in the textbook RestaurantsBars Hotels Retail establishments Tanning Salons GPS products Note Sometimes I will give permission if a student meets with me to discuss their business concept before the assignment deadline RFID Software unless one or more of your teammates is a professional software coder Additionally business concepts that have previously been investigated by other classes are not permitted See the appendix for a list of previously investigated business concepts 5252011 18 DU120 KEYS T0 SUCCESS IN DEVELOPING A STRONG BUSINESS CONCEPT 1 Understand in advance that since most business concepts will fail in the market knowing how to kill a business concept when it is at the idea onlyquot stage is a valuable and essential skill 2 Recognize that most successful business concepts feature new to the world products built upon a opportunity recognition rather than opportunity creation and b differentiation strategies rather than low price strategies 3 Remember to conduct due diligence on your own business concepts before submitting them This means that you need to google every one of your business concepts and confirm that they either do not exist or that your business concept involves an N1 product with a compelling value proposition and sustainable competitive advantage before you submit your 0403 assignment Now if you really want to get a better handle on this assignment and 0406 please read the short essay below The essay below is a compilation of several answers to several previous students thoughtful and though provoking questions When is a Business Concept Likely to Be a Suitable Opportunity for a Startup Company For a business concept to survive 0403 and 0406 it needs to have a likelihood of succeeding in the market AND it needs to be suitable for a bootstrapping start up with first time entrepreneurs such as Team Color Inc Statistically the majority of new to the world business concepts are simply not going to generate enough revenues to cover costs and will likely fail so it is not surprising that the majority of business concepts are not going to survive 0f the remaining likelytosurvive business concepts most are going to be more suitable for exploitation by existing firms For example if you propose a business concept for an all in one high definition television and personal computer there may indeed be a burning pain for this kind of product in the market but it is a certainty that this business concept is better exploited by Sony HP or Dell To understand why this is so try asking customers in Best Buy if they would be willing to pay 5000 for an HD PC TV from a company they had never heard of According to our class discussions and the assigned readings in chapters 03 09 it takes an average of 3000 raw ideas to get to one successful new product launch From this fact you should be able to understand that generating a total of only 10 business concepts per person in this course means that we are betting against the odds with 0403 and 0406 But on the other hand we are playing the odds by pooling the business concepts at the team level And in class we have improved our individual level and team level odds by discussing ways to stimulate creativity Ch 03 and sources of creative innovations and by discussing the importance of attaching creative ideas to a business model Ch 04 In Ch 06 you will come to understand that analyzing the competitive dynamics of an industry is also critically important Basically through 0403 and 0406 you should arrive at a profound understanding of the fact that a successful entrepreneur typically needs to creatively employ opportunity recognition in order to articulate a business concept that will fill a niche with a product that has a value proposition unique enough that the company can gain traction in the market and achieve significant revenues before it pops onto the radar screen of larger older wealthier competitors and is forced to compete headon It is very frustrating for first time entrepreneurs to quotdiscoverquot opportunity after opportunity only to realize that the majority of good opportunities are not the right fit for their start up company but rather are more suitable for exploitation by existing firms that already have some necessary intellectual property or core competency or deep pockets that will 5252011 19 DU120 enable them to drive a business concept to market But that IS business reality Many some people think most entrepreneurs learn this harsh lesson after spending a considerable amount of their life savings Thus although completing the 0403 and 0406 assignments can be painful it is a fact that only a very small number of business concepts are both likely to succeed and be suitable for exploitation by a startup company such as Team Color Inc Where does your business concept fit lt 1 Suitable for Existing Company Suitable for StartUp Company Lpaaoons 0 Mann 5 deouoo sseuisng O Hint You should be aiming for quadrant I NOTE 1 Before you begin this assignment it is important to recognize that 0403 0406 and 0502 are highly interrelated in a Darwinian struggle It s Survival of the Fittest Business Concept 0403 A set of 5 business concepts that feature newtotheworld single product businesses Please try hard on this assignment but please understand that most of the business concepts are not going to survive An ability to learn from failure is essential for entrepreneurial success in the long run 0406 A set of 5 business concepts that feature newtotheworld single product businesses capable of surviving market competition Survivors if any from 0403 m be included in this set of 5 business concepts Ideally this set is fundamentally stronger than 0403 and reflects a deeper understanding of what it takes to develop a sound business concept 0502 The survivors from your 0406 assignment and each of your teammates 0406 assignment are pooled Next the best survivor is selected Third a more fully developed business concept for the survivor that articulates the value proposition product definition customer definition and value chain for the best business concept is crafted Also Division of Labor so you know who is responsible for getting various elements of the BFS completed is completed NOTE 2 A lot of mental anguish is associated with 0403 and 0406 so you need to steel your nerves put on your thinking cap and make sure your sense of humor is located nearby 5252011 20 DU120 NOTE 3 In the past a few students simply wrote down the names of five companies that already exist This exercise does not seek to measure your ability to remember the names of existing companies This exercise requires you to use your creativity and any other skills to identify five newtotheworld business concepts that will be considered for use in conducting a Business Feasibility Study NOTE 4 In the past several students sincerely complained stating that I did not grade strictly enough on this 0403 assignment Accordingly if a business concept violates anything discussed in these directions or anything discussed in any of the appendices in this syllabus you will not receive credit for that particular concept ie minus 4 points NOTE 5 You could use Timmons Characteristics of a good business conceth to help you determine which of your ideas are likely to survive before you submit them Creates significant value for customers by solving a significant problem or filling a significant unmet need for which they are willing to pay a premium Offers significant profit potential to the entrepreneur and investors enough to meet their riskreward expectations Represents a good fit with the capabilities of the founder and the management team that is something they have the experience and skills to pursue This is not as important in MGMT 260 as acknowledging the skills gaps and demonstrating how these gaps will be overcome Is durable in the sense that the opportunity for profits will persist over a reasonable length of time that is is not based on a momentary fad or need that will quickly disappear Note 6 If you are wondering about how to attach a creative idea to a business model you might consider Afuah s10 Sources of Revenues for Business Models quotThere are at least six primary sources of revenues that firms usually pursue in their business models direct product sales after sales service indirect content sales product nancing collect early pay later nancing and royalties on intellectual property To generate revenues at each of these sources a firm usually chooses from a number of revenue models a framework for generating revenues to determine which revenue source to pursue what value to offer how to price the value and who pays for the value 1 Direct product sales Customers pay for the value that they perceive in the product or service and the type of revenue model available to a firm depends on the activities it performs to add value to the product or service a Production model the firm that creates the product or service sells it to a customer who values it and pays for it the most common model b Subscription model the customer pays a flat fee for the right to use the product for a period of time whether or not the customer uses the product at all Fee for service model the customer pays only for the service used Markup model the firm buys the product or service marks up the price and resells to customer e Commission model the firm charges a fee for a transaction that it mediates between two parties 2st 9 Luecke R 2005 Entrepreneur s Toolkit Boston Mass Harvard Business School Press page 13 Afuah A 2004 Business mode51A strategic management approach Boston McGrawHillIrwin 5252011 21 DU120 2 Aftersales service firms can generate revenues by providing after sales service for complex products that require it and may use either a fee for service or subscription revenue model 3 Indirect Content Sales customers do not pay directly for the customer value when watching television listening to radio or reading magazines but rather the advertisers pay for the content The primary revenue model for indirect content sales is the advertising model 4 Product Financing firms can make additional revenue in financing the product Product financing revenues are the interest charges and other fees collected by the company and can be seen as elements of the commission model 5 Collectearly paylater firms that have 30 days to pay suppliers for the products it buys can collect payment form its customers well before it has to pay its suppliers and can in turn invest the revenues collected into other money making opportunities 6 Royalties on intellectual property rather than producing products as a result of RampD innovation firms may choose to license patented or copyrighted items or processes and collect royalties by charging fixed up front fees per unit fees or both 7 Combinations firms often use the above revenue sources in combination NOTE 7 Many business concepts fail because they already exist Here are some business concepts that are likely to fail Stapler with Staple Remover Attached to End his product exists b How would your firm a poor bootstrapping start up outcompete existing stapler makers c Existing stapler makers are likely to imitate this idea if it is warmly received in the market BirthdayHoliday Anniversary Cards with Mini Screen Capable of Playing Pre set or Personalized Video Greetings a To survive to 0406 you need to prove that a market exists for 60 birthday cards Existing online solutions are much cheaper b How would your firm a poor bootstrapping start up outcompete existing stapler makers Dog Toothpaste a Already exists Machine that folds clothes Almost nobody likes folding clothes but who has 10000 to buy a machine that performs a chore that can be completed by hand in 20 minutes Toothbrush and Toothpaste in One This is a student favorite that is proposed almost every term Unfortunately it already exists httpwwwsmilesaverbrushcomindexphp Self Car Tint Kits This is a student favorite that is proposed almost every term Unfortunately it already exists httpwwwyoutubecomwatchvSthjOD 3sM Windows for the Home that Get Darker As the Sun Gets Brighter This is a student favorite that is proposed almost every term Unfortunately it is prohibitively expensive 11 Also based on past experience with this course and recommendations from previous students s rvices no restaurants no hotels no GPS no RFID and no previously investigated by other classes concepts will be allowed 5252011 22 DU120 Cool Pillow For this concept to survive the student needed to demonstrate how it differed from httpwwwlockergnomecomnexusnews20060731the chillow keeps your pillow cool Remote Control Finder for Keys etc This is a student favorite that is proposed almost every term It exists already Packaging Innovations Such As Peanut Butter or Potato Chip Dip Dispenser he packaging industry is a multi billion dollar industry It is very difficult for a start up to compete in this industry Solar Blinds for Houses a To survive 0406 the student needed to demonstrate that this does not already exist AND that the product can safely and efficiently transport electricity from the shades to devices that will use the electricity Disinfectant Covered Q Tips is easy to understand how Johnson amp Johnson could profit from this idea but it is not so clear how you and your team could profit from this idea Women s High Heels that Convert to Flats a This idea exists NOTE 8 Here are some don ts vis vis business concepts that I have collected over the years 5252011 23 Do not propose business concepts based on any of the following hotels restaurants bars real estate development companies health clubs any product that must be sold to an automobile manufacturer Also NO SERVICE COMPANIES Note Past experience has demonstrated that students do not acquire the full portfolio of course learning outcomes when they pursue the abovementioned kinds of companies Do not propose a business concept that involves anything related to automobiles or that requires selling to automobile manufacturers Do not recycle business concepts that have already been vetted in previous implementations of this course See Appendix below for details on business concepts that have already been vetted in previous implementations of this course Do not propose a business concept that utilizes Global Positioning Systems GPS without getting permission from the instructor Do not propose a business or Radio Frequency ID RFID Historically every company that has been proposed in MGMT 260 involving RFID has been infeasible Do not target your business concept to only college students unless there is a compelling reason You will graduate soon and there are much larger markets to exploit beyond the population of university students Do not assume that GOOGLE ADS and Word of Mouth are a complete MARKETING STRATEGY Do not assume that first mover advantage is the same thing as sustainable competitive advantage Do not select a business concept that already exists without modifying it in some way Note N1 is great But if you pick something that already exists in exactly the same form your classmates are likely to hammer you for proposing a business that is coming late to the game with first movers already entrenched So do some due diligence When selecting your business concept do not make your choice based on wishes hopes or unsubstantiated assumptions ie do some preliminary secondary research and due diligence 12 Not to put too fine a point on it these are prohibited business concepts DU120 0404 My MBPI Jungian 20 points This exercise enables you to get a free assessment of your MyersBriggs personality type You must bring a hard copy to class and you must upload a digital copy of your results only to BlackBoard Vista Note If you upload all of the questions and the answers you will not receive credit for this assignment If you fail to upload the document or if you forget to bring a hard copy to class you will not receive credit for this assignment Detailed instructions are provided below Step 1 Click on the URLs organizer page on the BlackBoard Vista homepage for our course Step 2 Complete the MBPI Jungian assessment Note There are no right or wrong answers Step 3 Print a hard copy of your results only REMEMBER to bring the hard copy to class Step 4 Save a copy of your results only to MS Word or as an Adobe PDF Step 5 Click on the Assignments organizer page on the BlackBoard Vista homepage for our course Step 6 Upload the MS Word file of your MBPI Jungian results NOTE 1 Every year some students save their results and all 72 questions which creates a very big file Such a big file causes my computer to crash I only want you to save and upload your results NOTE 2 If you enjoy these kinds of assessments and you are attempting to strategically manage your career then please check out httpwwwdrexeleduscdccounselingasp 0405 My Creativity Index 20 points This exercise enables you to get a free assessment of your creativity level You must bring a hard copy to class and you must upload a digital copy to BlackBoard Vista If you cannot the upload document using the directions below you will not receive credit for this assignment If you do not bring a hard copy to class you will not receive credit for this assignment Detailed instructions are provided below Step 1 Click on the URLs organizer page on the BlackBoard Vista homepage for our course Step 2 Click on and complete the Creativity assessment Step 3 Print a hard copy of your results REMEMBER to bring the hard copy to class Step 4 PC USERS Please find the PRINT SCREEN button on your keyboard and push it Note Please see picture of a PRINT SCREEN button below Step 4 MAC Users Press Command Shift and 4 all at once and then drag the cursor over what image you want to capture and it will appear on your desktop Step 5 Open a new document in MS Word Step 6 Click CTRL V the command for PASTE This will paste your results into MS Word Step 7 Click on the Assignments organizer page on the BlackBoard Vista homepage for our course Step 8 Upload the MS Word or Adobe PDF file of your Creativity results This is a photo of a PRINT SCREEN button on a PC keyboard 5252011 24 DU120 0406 My Five Business Concepts Attempt 2 50 points Use the concepts from Chapters 03 04 05 amp 06 to refine your list of surviving business concepts that you may want to use as the basis for a business feasibility study in this course You must have 5 business concepts that are for products ie not services that are new to the world ie opportunity recognition N1 or opportunity creationbuilt from scratch that can be attached to a business model Additionally the concepts must pass basic industry analysis techniques and product riskbenefit analysis techniques Absolutely no magic carpets or other flights of fancy ie technologybased products must utilize technologies that exist such that the production of the product could commence today or in the next 12 months At this point you have probably developed a deeper appreciation of the challenge of articulating a compelling business concept Never give up The best things in life are rarely easy In completing this assignment you must use the format below for each of your business concepts If you do not use this format you will not receive credit for this assignment Business Concept X Name of Product or Company Name A Product DefinitionDescription What is the product B Value Proposition and Compelling Story Why is this product interesting what burning pain does it resolve and how is it different from existing products C Customer Definition Who is the customer What is the total number of potential customers D Distribution How will the product go from being raw materials to being processedmanufactured to being distributed and finally to being sold to the customer Instructions for Uploading to BlackBoard Vista Step 1 Refine your list of 5 business concepts be creative Step 2 Save your list as an MS Word file Step 3 Print a hard copy of your list REMEMBER to bring it to class Step 4 Click on the Assignments organizer page on the BlackBoard Vista homepage for our course Step 5 Upload the MS Word file of your venture list NOTE 1 Your team is depending on you to bring good ideas to the table because your team is going to have to select a business concept very soon So you really should spend time carefully refining your set of business concepts NOTE 2 In the past students have underestimated the importance of this assignment They were surprised to receive very low grades for this assignment However when they came to speak with me in person they were able to understand how their business concepts did not meet the criteria indicated above Moreover they readily acknowledged that losing a maximum of 50 points while learning what they had not understood properly was a very goodcheap price to 5252011 25 DU120 pay because it enabled them to think more strategically about 0502 and the rest of the Business Feasibility Study NOTE 3 Occasionally an idea that survives 0403 does not survive 0406 Itry to be merciless when I grade 0403 However occasionally the reasons why a particular business concept is likely to fail are not apparent to me on the first reading For this reason I STRONGLY ENCOURAGE students to consider the merit of each surviving business concept from 0403 before adding it to 0406 If your business concept is unlikely to succeed in the market you are better off killing it before I have a second chance to do so 0407 Peer Evaluation Form Part of Final Exam This form must be completed and submitted at the end of the term after you have completed your final written Business Feasibility Study If you do not complete and submit this form your final grade will be reduced significantly Please remember to evaluate yourself and your peers Please note that after having taught this course many times it is clear to me that very rarely does a team function so well that everyone on the team deserves 20 points TEAM ASSIGNMENTS 0501 Business Model Presentation 50 points This exercise is essentially an elevator pitch but you have 10 minutes rather than sixty seconds In this exercise the team makes exactly five PowerPoint slides that visually depict their assigned company s business model During the course of their presentation the student team must touch upon the following Slide 1 Title Slide Slide 2 Value Proposition and Compelling Story13 including the pain this business aims to resolve Slide 3 Product DefinitionDescription Slide 4 Customer Definition Slide 5 Value Chain Visual is much better than Words At the end of your presentation the audience should be able to answer the questions below How You Are Going to Make Money How the Business Model Has Changed the World andor Industry NOTE 1 Students must assume that they are presenting the business model to a room full of venture capitalists Students must assume that they are presenting to a room full of venture capitalists when the firm is in its startup stage This means that student teams will be presenting as if they had traveled back in time During or after the presentation the instructor will ask the audience of venture capitalists how the presented business model makes money Likewise the audience will be asked how the business model has changed the world Hopefully 13 The order of Value Proposition and Product Definition is intentionally reversed When presenting you need to immediately hook the audience with the value proposition in order to get them to pay attention for the rest of the presentation 5252011 26 DU120 the presentation will have addressed these points so that the audience can easily answer the instructor s questions Note Venture capitalists are always civil but they occasionally seem blunt or even brusque This is part of the role of being a venture capitalist many believe this temperament induces entrepreneurs to be better prepared NOTE 2 From week to week as the audience learns how to be better venture capitalists the number of questions they have will sometimes increase Concomitantly teams will be learning how to present more like entrepreneurs and less like students NOTE 3 Weeks Teams and Company Business Models NOTE 3 Order of presentations ROYGBIP 52 2011 27 DU120 BUSINESS FEASIBILITY STUDY BFS ASSIGNMENTS 0502 Team Business Concept Selection amp Division of Labor List 80 points1 This document represents your team39s final selection of the business venture concept for your team39s Business Feasibility Study BFS As you know the BFS is the biggest component to your final grade so your team should approach this decision with care There is no alchemy in entrepreneurship If you select an idea that clearly does not have a chance of succeeding for 0502 not only will your grade suffer but you will suffer psychologically because nothing you can do is going to magically transform a bad concept into a golden one Once the business concept has been selected it should be described in more detail than in 0403 and 0406 Also you need to include a brief Division of Labor which breaks down who is going to be responsible for various sections of the BFS In completing this assignment you must use the format below for your team s selected business concept If you do not use this format you will not receive credit for this assignment In addition to using this format you must also include a brief Division of Labor which breaks down who is going to be responsible for various sections of the BFS I Business Concept X Name of Product or Company Name A Product DefinitionDescription What is the product Please describe it in detail Please include an estimated retail price AND include an explanation of how you determined the estimated price Frequently a retail price is estimated by investigating the MSRP for a similar competing product B Value Proposition and Compelling Story Why is this product interesting what burning pain does it resolve and how is it different from existing products When comparing your product to other existing products you should supply the names of your competitors and their products and their prices C Customer Definition Who is the customer Please give detailed demographic information What is the total number of potential customers Using footnotes please cite a reference when you quantify the market size eg Census data IBIS World Mintel reports etc D Value ChainDistribution Chain How will the product go from the manufacturer to the customer You must depict this visually Please estimate the cut of each member in the value chaindistribution so that you can also provide an estimate of the per unit profit that will accrue to your firm II Division of Labor Indicate who is going to be responsible for various sections of the BFS After describing your business concept 0502 Team Business Concept amp Division of Labor List should also indicate the division of labor and schedule for 14 In order to help teams to build quality into their business feasibility study earlier in the quarter 1 have significantly raised the point value for this assignment when compared with previous quarters 5252011 28 DU120 completing 0503 Elevator Pitch amp Slides due in Week 05 and 0504 BFS Rough Draft I due in Week 06 NOTE 1 Your 0502 Team Business Concept amp Division of Labor List and the 0502 documents of your competitors will be printed copied and distributed in class in Week 04 This will give you an opportunity to perform due diligence on your competition and vice versa Accordingly your 0502 product should be professional in appearance and should list the Team Name and the names of all members of your team The instructor and probably your competitors will conduct a Google search to confirm that the business concept you have selected is indeed a product that is new to the world If the instructor finds that your product is not new to the world this will be written on your distributed 0502 Team Business Concept amp Division of Labor List and your classmates will be able to see that you did not do any due diligence on your idea Also you will receive a reduced number of points for 0502 NOTE 2 If your customer definition in document 0502 includes ambiguous phrases like anybody you have not done enough research on who your customer really is Including a quantification of the market size really adds credibility to your 0502 NOTE 3 The purpose of the Division of Labor component of this assignment is to get teams to think earlier and deeper about what needs to be completed and when in order to produce a credible and accurate business feasibility study How you divide the labor and choose to arrange your meeting schedule is a decision best left to you and the other members of your team As the instructor it will be up to me to use 0502 to evaluate how deeply and how well you and your team have considered what needs to be completed and when NOTE 4 Only one person from each team needs to submit this document NOTE 5 This product is graded on a relative curve This means that you are competing with other groups in the course although more than one team ma occupy the same rank Very roughly grades will be allocated using the following scale to 15 It is possible for a team to achieve a high ranking and for an individual member of the team member to receive zero points for this assignment and any other 0500 series assignment One context in which this occurs is when a shirker is free riding ie not making a meaningful contribution to the team s 0500 series assignments 5252011 29 DU120 NOTE 6 In a previous quarter a team knew without a doubt after assignment 0502 that their business concept was not feasible One member of the team asked me What should we do After brainstorming with this student for about 45 minutes she was able to come up with an idea that would require changes only to the product definition all of the preliminary work that had been done to investigate the market size to define the value proposition and the customer etc would not have to change When she approached her teammates with her brainstormed idea however she was immediately shot down even though not exploiting this opportunity meant that they would earn a significantly lower grade for 0503 Frankly while I can understand how student teams need to strategically balance their efforts across all of the courses they are taking in a term this situation was a no brainer A minimum amount of extra work could be performed in exchange for a much higher grade At this point in the course if student teams are not obsessed with maximizing this kind of opportunity I become very concerned 0503 Elevator Pitch 45 points Teams are allowed one PowerPoint slide in their elevator pitch In sixty seconds your elevator pitch must include 1 Value Proposition and Compelling Story Value Proposition and Compelling Story including the BURNING pain your product will resolve 2 Product DefinitionDescription 3 Customer Definition Including Size of Market 4 Value ChainDistribution Chain must include a visual depiction At the end of your presentation the audience should be able to answer the questions below How You Are Going to Make Money How the Business Model Has Changed the World andor Industry Before your presentation please remember the following Prepare prepare and then prepare some more Choose the content carefully Remember that you are trying to persuade not overwhelm Show enthusiasm but temper it with reality checks Rehearse before you give the presentation Don t overlook the basics Adopt a cooperative helpful approach to questions and remember the Golden Rule QTWPOP NOTE 1 Only one person from each team needs to submit the slide You do not need to submit the script for your elevator pitch NOTE 2 Order of presentations OYGBIPR NOTE 3 Nothing smaller than 30 point font on the slide 5252011 30 DU120 NOTE 4 Only one person needs to give the 60 second pitch However all members of the team must be available for QampA This mirrors what we saw when we watched It s the Journey NOTE 5 An Information Services Librarian can be a very useful friend to have for this assignment and all remaining work on the BFS Below please find the contact information of Drexel University s very own Information Services Librarian Ms Emily Missner Information Services Librarian Hagerty Library Drexel University 3300 Market St Philadelphia PA emilydianamissnerdrexeledu 2158956164 NOTE 6 This product is graded on a relative curve This means that you are competing with other groups in the course although more than one team may occupy the same rank Very roughly grades will be allocated using the following scale to 0504 BFS Rough Draft I 50 points This rough draft contains a visible easytounderstand outline of the Business Feasibility Study ie paragraphs and bullet points The Business Feasibility Study should be 60 complete at this stage Students should use the templates that were provided in class and on the Bb Vista website to structure their BFS For each section the name of the students responsible for that section must be included Please remember to bring six or seven hard copies to class so that you can swap If you do not have footnotes at the bottom of each relevant page with bibliographic references your rough draft will not receive full credit because the lack of references will be interpreted as a lack of research NOTE 1 Only one person needs to upload this document but PLEASE remember to bring 5 6 or 7 hardcopies depending on the number of people in the team with which you will be swapping to class NOTE 2 You must indicate how you will perform your primary research in this draft 5252011 31 DU120 NOTE 3 This product is graded on a relative curve This means that you are competing with other groups in the course although more than one team may occupy the same rank Roughly grades will be allocated using the following scale to 0505 BFS Rough Draft II 125 points This rough draft should be a 95 complete version of the final Business Feasibility Study NOTE 1 I will compare your first rough draft and your second rough draft If significant progress has not been made you will not receive many points NOTE 2 Only one person needs to upload this document but PLEASE remember to bring 5 6 or 7 hardcopies depending on the number of people in the team with which you will be swapping to class NOTE 3 You must include the results and analysis of your primary research in BFS Rough Draft II NOTE 4 This product is graded on a relative curve This means that you are competing with other groups in the course although more than one team may occupy the same rank Roughly grades will be allocated using the following scale 5252011 32 DU120 0506 BFS Presentation 55 points Presentations are made during the last two class sessions 102030 Rule No more than 10 slides the presentation should last no longer than 20 minutes no font should be smaller than 30 point No reading from a script unless English is not your first language The Title Slide ie the first slide must include either the word FEASIBLE or INFEASIBLE in 30 point font or larger There are no mysteries in management Additionally in all business presentations it is important to deliver a consistent and unified argument From the audience39s perspective if you spend 20 minutes explaining why a business concept is going to change the world and then you spend one minute at the end asserting that the business concept is really not feasible after all then you will have undermined your own credibility In the past most teams that have concluded that their business concept was infeasible have reframed their BFS along a quotThis is what we thought this is what we foundquot theme NOTE 1 Only one person needs to upload the slides to BlackBoard Vista NOTE 2 Order of presentations YGBIPRO NOTE 3 This product is graded on a relative curve This means that you are competing with other groups in the course although more than one team may occupy the same rank Roughly grades will be allocated using the following scale to 5252011 33 DU120 0507 VG Assessments of Peer Presentations 25 points Each Business Feasibility Study presentation must be evaluated by the other teams Please do not assess your own presentation This assessment is for Team Color ie Y G B P R 0 Product Name IZl Please check the box that most accurately describes the presenting team s achievement Bugness concept actually is feasible in the real world As determined by a real world investor YES NO 0 09333 3quot m nil 393 mltg U nga 3 YES an U1 a E mrr mg U U EU 3 53 I a m in NO U1 Please check IZl the sentence below that best describes the presenting team s achievement El 1 agree this business concept is feasible please let me give you some money right now El 1 agree that this business concept may be feasible but you need to do some more work El Although you have worked hard I respectfully disagree with your conclusion that this is a feasible business concept Or El 1 agree that this business concept is not feasible thank you for exhaustively investigating the concept and for building a solid case that supports the conclusion that it is not feasible El 1 agree that this business concept is not feasible However I wish that you had more exhaustively researched your case In a few sentences below please describe why you chose the sentence that you selected above 5252011 34 DU120 0508 BFS Final Paper Exam Date 50 points This draft should be 100 complete It should be updated based on the feedback that you received after submitting Rough Draft II and after presenting during the last week of the course NOTE 1 Only one person needs to upload the slides to BIackBoard Vista NOTE 2 Yes I really do compare 0508 with 0505 and 0504 NOTE 3 This product is graded on a relative curve This means that you are competing with other groups in the course Roughly grades will be allocated using the following scale 0600 Series Extra Credit When a Baiada Center event is held that dovetails with the topic of this course I am happy to offer students an opportunity to attend the event for extra credit A one paragraph summary of what you learned at the event must be submitted via BIackBoard Vista within 30 hours of attending the event The number of points added to your grade will not be determined until the end of the quarter However no amount of extra credit can adequately compensate for not attending andor not participating in class 5252011 35 DU120 923 WED 040 1 IN CLASS 927 SUN 0302 2159 0402 2159 929 TUE 0303 2159 030405 21 0403 2159 0404 2159 0405 2159 106 TUE 0306 2159 0307 2159 0406 2159 1013 TUE 0308 2159 0309 2159 0502 2159 1020 TUE 0310 2159 0311 2159 0503 2159 5252011 Appendix B QUIZ AND ASSIGNMENT DUE DATES amp TIMES 1027 TUE 0312 2159 0313 21 59 0504 2159 113 TUE 0314 2159 0315 2159 1110 TUE 0316 2159 0317 2159 0505 2159 1117 TUE 0318 2159 0319 2159 122 WED 0506a IN CLASS 0507a IN CLASS 128 LAST SUBMISSION IF NEEDED 0508 2159 DU120 Appendix C Week 03 Team Leader amp SubLeader Selection Decision Note This form is to be completed AFFER the Experiential exercise on Friday of Week 03 Team is pleased to notify you that we have selected as our Team Leader Additionally we have selected as our Sub Leader We acknowledge that these two individuals are responsible for ensuring that team assignments are submitted on time We commit to working professionally as a team for the remainder of the quarter Specifically we the undersigned hereby commit to the following 1 When communicating via email to use the Reply All key when appropriate 2 When communicating via telephone to respond to Voice Mail as quickly as possible 3 To keep all start lines and dead lines to which we have committed as individuals and as a group 4 To be aware of the point values associated with every 0500 series team assignment 5 To recognize that everyone is busy everyone is working but that the work in this course still must be completed on time Print Name Sig nature email telephone Print Name Sig nature email telephone Print Name Sig nature email telephone Print Name Sig nature email telephone Print Name Sig nature email telephone Print Name Sig nature email telephone Print Name Sig nature email telephone 5252011 37 DU120 Appendix D A List of Do s for Completing a Business Feasibility Study Secondary and Primary Research must be conducted and footnotes with bibliographic citations must be included Please use the bottom of page feature rather than the end of document feature No websites no pamphlets and no brochures when you compete in the elevator competition and when you present your final business feasibility study The basis of competition in this course is credibility not your ability to outspend your competition Whenever one student meets with me about the BFS she must send an email to all group members and cc me The email must summarize the meeting 52 2011 38 DU120 Appendix E Hall of Fame amp Shame List of Previous MGMT 260 Business Feasibility Studies By completing this course you join an elite group of students that will be remembered by future generations of students and by me ltgt Best infeasible BFS in section 39 ree a new no maintenance or water constructed of super strong recycled plastic composite and which houses solar cells on the of branches that will charge a devices such as Amazon39s Reader Digital Book that projects SPRING 2008 MGMT 260 Section 001 Bar Eaze A polyethylene cup holder so women can take their drink into a bar s N bathroom minimizing the risk of RHB type date rape conditions Freedom Ladder A ladder with an extension cord running up the leg of the N ladder and a tensioner that dispenses cord as needed 5252011 39 DU120 ca rry on super enabling the user to avoid putting a hole in their tie while keeping it cane sensors necessary WINTER 2007 MGMT 260 Section 001 ompany NameDescription Feasible QAdVend Full body display vending machine I Belle Sante Make Up Brush UV Sanitizer I N I I Pleasure Point Home Hand Acupuncture System I N I 5252011 40 DU120 SmartKartz ltZ Smart Refill Signals a restaurant serverbartender that you need a refill or other service Stick A Sign Heavy duty reflective vinyl stickers as a long term substitute for N repainting or replacing vandalized traffic signs 5252011 41 DU120 a sensor 5252011 42 DU120 Appendix F Drexel University is not trying to steal your ideas In the past some students have indicated a concern that Drexel University would attempt to lay claim to ideas developed in MGMT 260 Below please find the opinion of Mr Mark Loschiavo Executive Director of the Laurence A Baiada Center for Entrepreneurship in Technology From LoschiavoMark mailtomp26drexeedu Sent Monday October 30 2006 1113 AM To Sean M Hackett DeCarolisDonna Ken Colwell Cc McGrathRobert McIIhenneyTerri AdamsDoug Subject RE Student Businesses at Drexel University Sean 1 think the only time the university will lay claim on student IP or invention is when it comes from undergraduate or graduate research specific to their field of study My understanding is that this research is typically done using university assets including labs machine shops faculty etc I hope you don t take offense being considered a university asset I talked with Doug Adams about this and he said that the only time undergrads need to be concerned with this is if it is part of a senior design project Engineering or where Drexel assets are used to build prototypes machine shops labs He feels that if it is merely an idea that a student submits as a part of a class business plan or the business plan competition Drexel would claim no ownership provided they did not use university assets beyond faculty Baiada Center or Tech Commercialization guidance The academic policy you referenced mostly applies to students working with grant funding usually in conjunction with a faculty member It might also apply if the invention is part of a coop experience within a corporation Regards Mark Mark P Loschiavo Executive Director and Sr Exec in Residence LeBow College of Business Laurence A Baiada Center for Entrepreneurship in Technology 3225 Arch Street Ground Floor Philadelphia PA 19104 2158950301 Office 2158950310 Fax mp26d rexeedu 52 2011 43 DU120 0407 Con dential Peer Evaluation Form This CONFIDENTIAL16 peer group evaluation form is provided to prevent shirking with regard to the preparation of the ENTIRE business feasibility study ie Business Concept Elevator Pitch Rough Draft I Rough Draft II Final Presentation Final BFS Using a forced point scale that is the total must be 100 for 5 person teams 120 for 6 person teams and 140 for 7 person teams please assign points to each member of your group including ourselfl concerning how well each contributed and participated to the team s success Please be candid If you have a conflict of interest please indicate it in this form For example if one of your teammates is also a member of your fraternitysorority varsity team roommate etc please disclose this information in this form After completing this form please save it using ltYOUR LAST NAMEdocgt as the file name and upload it to BB Vista To receive credit for this assignment you MUST THOUGHTFULLY AND HONESTLY explain your reasoning for assigning points the way you have in the box labeled Why Please note that evaluating colleagues is something that professionals dread doing so if this assignment makes you feel a little nervousqueasy then you are probably taking it seriously and doing it the right way Note Trading points in order to game the system is considered dishonest and may result in a referral to the Office of Judicial Affairs 15 Confidential means that the information in this form is private and should not be shared with your classmates 5252011 44 DU120 0407 Con dential Peer Evaluation Form cont Your Name 100 or 120 or 1 Use the space on the next page to write comments about your team s dynamics and performance over the course of the quarter 5252011 45 DU120 Appendix H Baiada Center Competition Information For information on the Baiada Center Competitions please click here httpwwwebowdrexeeduCentersBaiadaBusinessPlanindexphp 5252011 46 DU120 Appendix I Group Directory Use this form to record the contact information of your permanent team members Nam 9 EMail TEL Nam 9 EMail TEL Nam 9 EMail TEL Nam 9 EMail TEL Nam 9 EMail TEL Nam 9 EMail TEL Name E Mail TEL 5252011 47 DU120