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Welcome to MGT 3783

Welcome to MGT 3783. Jeff Stambaugh Dillard College of Business/Rm 257A jeff.stambaugh@mwsu.edu http://faculty.mwsu.edu/business/jeff.stambaugh. Built by Stambaugh/2009. My BHAG* for This Course *Big Hairy Audacious Goal.

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Welcome to MGT 3783

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  1. Welcome to MGT 3783 Jeff Stambaugh Dillard College of Business/Rm 257A jeff.stambaugh@mwsu.edu http://faculty.mwsu.edu/business/jeff.stambaugh Built by Stambaugh/2009

  2. My BHAG* for This Course*Big Hairy Audacious Goal • You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable undergraduate course Built by Stambaugh/2009

  3. Introductions • A little about me • PhD from Texas Tech in strategy/entrepreneurship • BSAE from USAF Academy, • night-school masters, 1 yr Harvard fellowship • 24 years of flying jets and management positions • A little about you (my assumptions) • You’re busy • You’re interested in business • You’re excited about your future Built by Stambaugh/2009

  4. Quick Look • Five years from now do you see yourself owning / operating a business? • Ten years? Built by Stambaugh/2009

  5. Brief Introductions • Name • Major • Expected Graduation • What do you want to do upon graduation • One “fun fact” about you And then fill out the information sheet (and the questions) Built by Stambaugh/2009

  6. What is Entrepreneurship? • Uncertainty • Adjustments • It depends • It’s everything! Built by Stambaugh/2009

  7. Why Study Entrepreneurship? • You have always wanted to be an entrepreneur • Skills are useful across the board … especially for the future • You may end up as an entrepreneur even though you didn’t expect to • Jeff Hawkins: Inventor of the PalmPilot (started Handspring) clip Built by Stambaugh/2009

  8. What You Will Learn • What is an entrepreneurial opportunity and how can you generate one • How to evaluate feasibility of an opportunity • How to plan and establish a new venture • How to resource that new venture • Communication skills paramount! Built by Stambaugh/2009

  9. Syllabus Review • Course web page and WebCT is vital • Communications—make sure I can email you • Course overview • Lots of hands-on stuff! • Big Ideas: • Idea Generation • Feasibility • Planning • Finances Built by Stambaugh/2009

  10. Culminating Point • Business plan project with a real world venture • The entrepreneur will evaluate your plan Built by Stambaugh/2009

  11. One Last Point • “Why are you here?” • So, why are you here? Built by Stambaugh/2009

  12. My BHAG* for This Course*Big Hairy Audacious Goal • You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable undergraduate course Built by Stambaugh/2009

  13. What is Entrepreneurship? From Katz & Green 2e Built by Stambaugh/2008

  14. Types of ENT Ventures From Katz & Green 2e Built by Stambaugh/2008

  15. Distinctiveness From Katz & Green 2e Built by Stambaugh/2008

  16. What is Success • Yourself • Family • Firm (Investors) • Community Built by Stambaugh/2008

  17. Innovation = New Combination • New product or good • New method of production • New market • New materials • Overall industry reorganization Creative Destruction: Out with the old and in with the new! Built by Stambaugh/2008

  18. What do you get when you combine? + Snow-covered Hills Skateboard Built by Stambaugh/2008

  19. You Get Built by Stambaugh/2008

  20. What do you get when you combine? + Business Jets Time-Share Concept Built by Stambaugh/2008

  21. You Get Built by Stambaugh/2008

  22. What do you get when you combine? + Flea Market Internet Built by Stambaugh/2008

  23. You Get Built by Stambaugh/2008

  24. New Combos = Value • Think “Customer Value,” not features! • How did each of these new combinations create value for the customer • More radical = more convincing (legitimacy) Built by Stambaugh/2008

  25. E’s Speak on Innovation • Alison Gerlach (Serial Ent) clip • Arcadia Kim (EA COO / Game Designer) clip Built by Stambaugh/2008

  26. E Firm Success Firm Success is ƒ ( Quality of Opportunity + Quality of Execution) • The Story of Eclipse clip Built by Stambaugh/2008

  27. Class Takeaways • Many different types of Ent businesses • Different characteristics / needs • New combinations at heart of innovation • Success = Idea + Execution Built by Stambaugh/2008

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