Transcript Class 1 - Simon Business School

ENT 422
The Role of Entrepreneurship in
Value Creation in Large
and Small Enterprises
Lecture 1
Introductions
Getting Acquainted
 Peter’s Background
 Jim’s Background
Students
 Career Summaries
 Why An Interest In Entrepreneurship
Important Points in the Syllabus
We now study entrepreneurship as process –
No longer a focus on entrepreneurs
The Steps Are:
 Evaluating Ideas for Opportunities
 Assembling Resources
 Launching the New Venture
 Building the Venture
 Harvesting the Rewards
Our Emphasis – Will Be First Phase –
Determining Whether the Idea
is an Opportunity
But the other stages will be discussed ―
and this approach is appropriate forprofit ventures and non-profits alike.
Using . . .
 Readings
 Lectures
 Cases – Including A Local Firm
 Guest Speakers
 Workshops - Learning How To Use: Idea
Generation Guide; Quickscreen Exercise;
Venture Opportunity Screening Exercises
It will be important to form teams – 2 or 3 students
Grading Procedure
In Recognition The Importance Of Teams:

60% Of The Final Grade Will Be Team Based

40% Of The Final Grade Will Be Individually
Based (But – 20% Will Be Classroom
Contributions)
After this course, students will be prepared to take
Ent423 and other Entrepreneurial offerings
What Is Entrepreneurship?
It is a process comprising a series of
steps which, if followed, would likely
create value and a successful new
venture ― often referred to as a
startup.
What Is Intrapreneurship?
It is the process comprising a
series of steps which, when
followed, would create value and a
successful new venture that resides
in an existing company.
Types of Entrepreneurial Ventures
For-Profit Organizations:

C-Corporations

Special Types: Sole Proprietor; Partnerships;
Limited Liability; Subchapters
Not-For-Profit Organizations:
(1)

Private Charities, Museums

Philanthropic Entities

Social Entrepreneurship(1)
Might Include Health Care, Educational, Religious,
Sports And Recreational Organizations
Forms of For-Profit
Entrepreneurial Ventures
 Startups
 Corporate Business Development
 Franchising
 Buying A Business
 Revitalizing A Troubled Business
 Joint Ventures
Not-for-profit organizations tend to
develop functional models that focus
on what they want to accomplish.
Entrepreneurship
Baron and Shane – Chapter One
Entrepreneurship: A Field and an Activity
Selected Highlights From The Chapter
Trend Toward
Entrepreneurship
 Media Accounts Of Success
 Changes In The “Employment
Contract”
 Change In Basic Values
Foundations of Entrepreneurship
In Other Disciplines

Economics

Technology

Psychology, Cognitive Sciences

Law

Sociology

Political Science
We Plan To Include Material From Simon Cross-Functional Core Courses.
Miscellaneous Material
 Research In Entrepreneurship –
Relatively New
 Technique Used To Develop Knowledge
• Systematic Observation Of
Entrepreneurs
• Reflection On Information Leads To
Cases
• Experimentation Is Not Very Practical
 Early Research At A. T. Kearney
Summary
Entrepreneurship Consists of Five Phases:

Determination Whether “Good Ideas” Are
“Opportunities”

Assembling Recourses - And Business Plan

Launching A New Venture

Building The Venture

Harvesting Results
Our study is the first phase which is applicable
for-profit and not-for profit entities.
Summary (Con’t)

Idea Generation Guide; Quickscreen Exercise;
Venture Opportunity Screening Exercises Help
Identify “Opportunities”;

Entrepreneurship is based on older disciplines;

After Ent422, students will understand how
value is created and prepare them for other
entrepreneurship courses;

Teams important in developing ventures.
Therefore we ask students to form teams of two
or three.
Assignment for September 21

Lecture: Intrapreneurship – Corporate Venturing
― Readings (Handout Materials) Block Chapter 1

Lecture: How To Discover New Ideas
― Readings Chap. 2-3; (Handout Materials) Hisrich
 Workshop
― Hand in List of Team Members
― Hand in completed form of Student Biographical Form
― Discuss Idea Generation Guide, The Quickscreen
Exercise and the 12 Venture Opportunity Screening
Exercises (Vose)
Readings (Handout Materials)

Work on Identifying Two Ideas for study using
“The Idea Generation Guide”.