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ENT 422 The Role of Entrepreneurship in Value Creation in Large and Small Enterprises Lecture 1

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.

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ENT 422 The Role of Entrepreneurship in Value Creation in Large and Small Enterprises Lecture 1

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  1. ENT 422 The Role of Entrepreneurship in Value Creation in Large and Small Enterprises Lecture 1

  2. Introductions • Getting Acquainted • Peter’s Background • Jim’s Background • Students • Career Summaries • Why An Interest In Entrepreneurship

  3. 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

  4. 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 for- profit ventures and non-profits alike.

  5. 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

  6. 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

  7. 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.

  8. 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.

  9. Types of Entrepreneurial Ventures • For-Profit Organizations: • C-Corporations • Special Types: Sole Proprietor; Partnerships; Limited Liability; Subchapters • Not-For-Profit Organizations: • Private Charities, Museums • Philanthropic Entities • Social Entrepreneurship(1) (1) Might Include Health Care, Educational, Religious, Sports And Recreational Organizations

  10. Forms of For-Profit Entrepreneurial Ventures • Startups • Corporate Business Development • Franchising • Buying A Business • Revitalizing A Troubled Business • Joint Ventures

  11. Not-for-profit organizations tend to develop functional models that focus on what they want to accomplish.

  12. Entrepreneurship Baron and Shane – Chapter One Entrepreneurship: A Field and an Activity Selected Highlights From The Chapter

  13. Trend Toward Entrepreneurship • Media Accounts Of Success • Changes In The “Employment Contract” • Change In Basic Values

  14. 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.

  15. Research In Entrepreneurship – Relatively New • Technique Used To Develop Knowledge • Early Research At A. T. Kearney • Systematic Observation Of Entrepreneurs • Reflection On Information Leads To Cases • Experimentation Is Not Very Practical Miscellaneous Material

  16. 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.

  17. 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.

  18. 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”.

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