HEMBA+2013

Recommended Books ||
 * = New Venture Development - MGT 582 for Spring 2013 Semester HEMBA = ||  ||
 * === Syllabus--> [[file:HEMBA MGT 582 Syllabus Spring 2013.doc]] <--Syllabus === || HEMBA Supplemental readings
 * **Assignments and Deliverables**
 * HEMBA Opportunity Register (10% of grade)
 * Business Model Generation Canvas - The 9 dollar cardboard bike Project (20% of grade)
 * HEMBA Team cases (2 separate cases, each of which is 15% of grade; note: for each team case you will use the Business Model Generation worksheet (1) to identify strengths or weaknesses in the business plans and (2) to argue for improvements you propose for areas of weakness. I will provide hard copy templates in class along with post-it notes.
 * Quizzes (2 quizzes each worth 15% of your overall grade)
 * Class participation (10%)
 * Plus additional ** assignments ** that contribute to your class participation score (noted as ** assignments ** below) ||  ||
 * == Weekend One, January 4 and 5: Introduction and Entrepreneurial Processes (online) == || [[file:Course introduction.ppt]] ||
 * ==The entrepreneur and opportunities==

The first weekend of this course is conducted through this wiki using videos, readings, and online exercises. The reading assignments and assigned deliverables are listed in the column to the right.

To understand entrepreneurs and opportunities, you should view the entrepreneurs and opportunities powerpoint to the right. Follow this viewing by reading Karl Vesper's chapters on opportunities (2a) and ideas (2b), along with Sarasvathy's article entitled "what makes entrepreneurs entrepreneurial?"

see reading assignments --> || || Identifying venture opportunities (from course packet) and answer questions below in discussion forum. || || || Text link Graphic link || ‍ ||  || Decisions, emotions, and entrepreneurship
 * Read: **
 * Karl Vesper on Opportunities
 * Karl Vesper on Ideas
 * Saras Sarsvathy on What Makes Entrepreneurs Entrepreneurial?
 * ===Reading from course packet: Identifying venture opportunities=== || **Read**:
 * Key questions to consider for ** assignment ** below:
 * 1) Why is "creating a vision" so important to identifying new venture opportunities?
 * 2) How can a person "systematically" absorb information and ideas from disparate sources of contextual knowledge (newspapers, publications, cable news, etc.)?
 * 3) Why do so few people seemingly draw upon their work experiences to create new ventures?
 * 4) How can you draw from macroeconomic, industry, social, demographic, technological, and regulatory trends to develop an opportunity for yourself or your employer? ||
 * **Assignment**: Follow ** [|this link to the discussion page for identifying venture opportunities]. ** ||  ||
 * **Assignment**: Follow ** [|this link to the discussion page for identifying venture opportunities]. ** ||  ||
 * //**Supplemental**// - This is bonus material. I guarantee you will enjoy Dan Ariely's TED video on decision making. The "predictably irrational entrepreneur" link shows how I've tried to replicate some of his research in an "entrepreneurial" context. ||  ||
 * * Dan Ariely - Are we really in control of our own decisions? (17:22) || Video link ||
 * * The predictably irrational entrepreneur? || //** Read **// content in this link - The predictably irrational entrepreneur
 * -- This would be the end of the first session on Friday-- ||  ||
 * = Opportunities for Entrepreneurial Ventures (the virtual "am" session) = ||
 * **‍For this portion of the first weekend,**
 * 1) **read the note on decision making, emotions, and entrepreneurship provided in your packet.**
 * 2) **answer the questions by following the link to the discussion forum.**
 * 3) **view the powerpoint files on decision making and opportunity recognition, shaping, and reshaping**
 * 1) **view the powerpoint files on decision making and opportunity recognition, shaping, and reshaping**

//** Read **//: Note on decision making, emotions, and entrepreneurship
|| ||
 * ** Assignment - Key questions:**
 * 1) What’s new about emotional intelligence in our understanding of human behavior?
 * 2) Is EI really as “touchy-feely” as it’s been portrayed in popular media?
 * 3) How can you use dimensions of EI to be an effective entrepreneur?
 * 4) Why have some managers / individuals persisted in discounting emotional intelligence?
 * 5) How can we make effective entrepreneurial decisions when they can be so biased?

//**Provide your answers to these questions by visiting this discussion link**// || || || An opportunity register is a journal compilation of different ideas you have for entrepreneurial opportunities. They are generally one to two pages long and have the following three sections: (1) Type, (2) Description, and (3) Assessment. Your opportunity register should focus on an opportunity that your current employer might be able to pursue. **Opportunity Register - This link provides you with complete instructions for writing and submitting your opportunity register.** || ** Submit ** your opportunity register by email to carmstro@cba.ua.edu or by using this HEMBA Opportunity Register Form || || ||
 * Opportunity shaping and reshaping || [[file:Opportunity Recognition Shaping & Reshaping.ppt]] ||
 * == Opportunities for Entrepreneurial Ventures (the virtual "pm" session) == ||
 * **Understanding Pitching** || Link: How pitch your idea ||
 * After reading how to pitch your idea, ** watch ** this video: Action Figure Laboratories, then watch Coffee Cup Advertising.
 * Assignment: ** Go to this link and answer discussion questions about Action Figure Laboratories' and Coffee Cup Advertising;s pitches ||  ||
 * **Video samples from "Dragons' Den"**
 * Watch the two videos (Maid to Order and The Wand Company) posted to the right (in order) >** || Examples
 * Maid to Order
 * The Wand Company ||
 * **Questions to consider**
 * 1) What does each team of pitchers bring to the table (i.e., "wow factor," tangible product or prototype)
 * 2) How do the pitchers vary in depth of industry experience? How does this affect their credibility with their audiences?
 * 3) How do their revenue situations differ and how does this matter to the audience?
 * 4) How do the different opportunities vary in terms of intellectual property and its protection? How does this matter?
 * 5) What conditions must be satisfied before a business should pursue a financing strategy?
 * 6) Duncan gets a return on his investment three times. What are they, and how much will he earn over the next two years if they meet projections? ||
 * **Assignment**: Answer these questions by following this link to a discussion board for understanding pitching ||  ||
 * ** Assignment ** to complete before second weekend of class - Opportunity Register.
 * ===Weekend Post Script - Opportunity recognition and the value of one's experience. (from Stanford's Entrepreneurship Corner)===

William Sahlman, professor at Harvard Business School, provides an example of opportunity recognition by relating the story of how John Osher, the creator of the Spin Pop, leveraged his experience into a new market--spin toothbrushes. Sahlman highlights how Osher and his team took their experience and applied it in a new setting by proactively searching to identify a gap in the current market that had potential for high profit. || media type="custom" key="12463220" || || || //**Supplemental files:**// || || ||
 * = Weekend Two, January 18 - 19 = ||  ||
 * == Business Model Generation (I) (1/18; 4pm - 8pm) == ||
 * ** Assignment Due Before Class - Opportunity Registers ** || ** Submit ** your opportunity register by using this HEMBA Opportunity Register Form ||
 * ** Analytical frameworks ** || * Porter's Five Forces (competitive forces model)
 * SWOT analysis
 * Resource-based view of the firm ||
 * **Topic: Business Model Generation (Part I)**
 * Value proposition
 * Customer segments
 * Customer relationships
 * Channels ||  ||
 * == Business Model Generation (II) (1/19; 8am - 12pm) == ||
 * Quick Review - Business Model Generation ||  ||
 * * Revenue model
 * Cost model
 * Key resources
 * Key activities
 * Key partners || [[file:Business Model Generation.pptx]] ||
 * == Business Model Generation Application (1/19; 1pm - 5pm) == || [[file:Business Model Generation Project - AMC Theaters.pdf]] ||
 * * //Discuss//: Build-A-Bear business model
 * //View//: Autoshop Business Plan presentation (13:18)
 * //Do//: Autoshop Business Model (Re)Generation team exercise
 * //Report//: results of Autoshop exercise || ** Read: **
 * **//End of weekend two ->//** || ** Complete ** your $9 cardboard bike project between now and the beginning of the third weekend. ||
 * = Week 3 Marketing, Planning, Financing, and Strategies for New Ventures (2/1 and 2/2) = || ** Due ** at beginning of third weekend: Business Model Generation Canvas - The 9 dollar cardboard bike Project (20% of grade) ||
 * == Developing New Ventures (2/1, 4pm - 8pm) == ||  ||
 * Topics
 * Marketing for new ventures
 * The business planning process
 * How venture capitalists evaluate potential venture opportunities || ** Read: **
 * How venture capitalists evaluate potential venture opportunities
 * Autoshop business plan ||
 * **Marketing for new ventures** || [[file:Marketing for new ventures.ppt]]

**Bonus** : Modeling S curves with Excel! and even more math ||
 * **How entrepreneurs think - using effectuation processes to market the lean start-up** || [[file:How entrepreneurs think.pptx]]

An example of the "Lemonade" principle of effectuation using the 404 "page not found" phenomenon. ||
 * **The business planning process** || [[file:The Business Planning Process.ppt]]

|| || ||  ||
 * More to read **: MOOT Corp business plans ||
 * **How venture capitalists evaluate potential venture opportunities** || [[file:How venture capitalists evaluate potential venture opportunities.ppt]] ||
 * == Assessing New Ventures (2/2, 8am - 12pm) == ||  ||
 * **Zipcar and Facebook** ||  ||
 * Facebook: partnerships or take-overs - Arbitron, Direct TV, Dunn & Bradstreet; customers - provide content, incur switching costs; platform - value of data and platform ||  ||
 * Side discussion || as discussed in class: Working Capital Cycle ||
 * //** Zipcar **//
 * Zipcar: Refining the business model (From case packet)
 * Business Model Generation (free preview)

Related Materials: ZipCar Case study: Refining the business model, 2005 (from course packet)
 * ZipCar's final amended S-1 filing (SEC.GOV) (Read "risk factors" and "capitalization")
 * ZipCar's Future - Part 1 (Seeking Alpha)
 * ZipCar's Future - Part 2 (Seeking Alpha)
 * ZipCar's Future - Part 3 (Seeking Alpha)

See also: wiki page on Zipcar || Zipcar Powerpoints and Excel

Video: Robin Chase (14 minutes) - Zipcar || (Look especially at Risk Factors and Capitalization) ||
 * **Facebook** || ** Read: **
 * [|Facebook sets historic IPO] (WSJ, 2/2/12)
 * Facebook case study from course packet
 * Facebook Form S-1 Registration Statement
 * **Facebook Opportunity Analysis in 2010**

|| More information on the Lotus Blossom Technique || {Supplemental file} ||
 * Assignment: ** Read and answer these questions about Facebook's opportunities [|in 2010 by following this link to a discussion board]. || **Facebook Challenges and Opportunities in 2011**
 * **Facebook Lotus Blossom Exercise** || Lotus Blossom exercise (change the text color to black after downloading)[[file:Facebook Lotus Blossom.xls]]
 * == Strategic Entrepreneurship (2/2; 1pm - 5pm) == ||  ||
 * Entrepreneurial strategy || {Supplemental file}[[file:Entrepreneurial strategy.ppt]] ||
 * Dainese - Competitive advantage from technological expertise || Video link ||
 * Challenges of corporate entrepreneurship || [[file:Corporate entrepreneurship.ppt]]
 * **KidSmart**


 * Working in teams, you will use the business model generation canvas to map the business model they are proposing to pursue and to identify changes you believe are necessary to the model in order for them to succeed.**

Additional Materials
 * 1) ** Identify key assumptions they make about their business model with which you do not agree. **
 * 2) ** Specify what it is about the assumptions that makes them flawed. **
 * 3) ** Propose fixes to the business model and identify implications for the KidSmart team ** || Readings:
 * KidSmart business plan
 * Fire Detector Patent Filing
 * Patent Application Information (pdf)

> > ||  || ||  ||
 * Supplemental**
 * The Myth of First Mover Advantage
 * A note on corporate entrepreneurship: Challenge or opportunity?
 * Strategic entrepreneurship: Creating competitive advantage through streams of innovation ||
 * **KidSmart Case Questions to Consider:**
 * 1) How does the majority of consumers acquire smoke detectors?
 * 2) Having answered the first question, how well does the KidSmart team articulate/signal their knowledge of consumer behaviors?
 * 3) Looking at the different inputs in the value chain (the means by which the product undergoes different phases of having value added to it before finally reaching the customer), which party is assuming the greatest risk? How does this likely affect investor interest in this plan?
 * 4) Based on the experience of the founding team, what is the best course of action to take to pursue this opportunity profitably?
 * 5) What can the founders expect for the future of KidSmart (the company)? Will they reach a point of market saturation and then fizzle out, or are they capable of introducing similarly innovative safety products? What should they do? || * //** View **//: KidSmart business plan presentation
 * Team Case in Class: KidSmart
 * [[file:KidSmart.pdf]]
 * KidSmart postscript - A Talking Smoke Detector Aimed at Protecting Kids ||
 * ==Financials Files - included by your request in class on 2/2==
 * = Supplemental Materials = ||  ||
 * ==Christine Sfeir - Dunkin' Donuts==
 * ==Christine Sfeir - Dunkin' Donuts==

At the age of 22, Christine Sfeir opened the first Dunkin’ Donuts store in Beirut and 10 years later runs 30 stores that are elegant hot spots for young professionals || media type="custom" key="12314980" || Rumman Company is an **innovative Media and Publishing House** based in Jeddah, Saudi Arabia. Rumman is best described as a holding company that owns, operates and manages ventures that are in new media publishing and producing industries. These business units share a theme that is youth oriented and socially responsible with a goal of improving the communities and environment we live in.
 * ==Rumman Company==
 * ==Rumman Company==

Rumman is the first events and publishing company focused on Saudi Arabia’s large youth market. Operating with a team of 30 recent college graduates, it has become so successful that brands such as MTV now work with it to market to young Saudis.

The management of Rumman believes in creating businesses by recruiting local talent. This is a key component in offering a chance for young people to deploy their skills and talents with proper guidelines, and apply them in a professional work environment to enhance their future marketability and career success. || ||
 * ==Bayt.com==
 * ==Bayt.com==

Bayt.com, located in the UAE, is the leading Middle Eastern job search site, which attracts 4.5 million job seekers. || [|How Bayt.com Works for You!] ||