355 Syllabus Sprinsdfsg 2013

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ENTREPRENEURSHIP 355

SPRING, 2013

COURSE NUMBER: ENTR 355 (HYBRID)

COURSE TITLE: ENTREPRENEURSHIPAND SMALL BUSINESS

MEETING TIME: MWF 11-11:50 PM

INSTRUCTOR: WAYNE A. PAUL

E-MAIL/PHONE: [email protected]/

OFFICE HOURS: STEPHENS 118; MONDAY 4:00-4:45 PMORBY

APPOINTMENT

CATALOG DESCRIPTION

The research and planning process needed to start a small business is emphasized.Entrepreneurial management strategies for marketing, finance, and operations are studied.

The preparation of a professional business plan is required. Prerequisites: FIN 331,

MKTG 341/342, MNGT 361; Major standing.

REQUIRED TEXT

Entrepreneurship, 8th edition. Robert D. Hisrich, Michael P. Peters, Dean A. Shepherd;

McGraw-Hill, 2010. ISBN: 9780073530321.

COURSE OVERVIEW

This is a practical course in which students work in partnership teams in developing

credible entrepreneurial concepts and skills. Students will apply the concepts they havelearned in this class and through previous courses to develop professional business plans.

Students are guided by the instructor, but are expected to provide the initiative to

complete the business plan. To this end, this is a hybrid course maximizing the

independent research, analysis and formulation processes by the student

partnership team.

Course assignments and requirements are also intended to give students an experience

that parallels that of entrepreneurs and small business owners. Through this experience,

students should become familiar with and appreciate the issues and activities associatedwith initiating and managing a small business or growing firm. As in a business start-up,success in this course will derive from your independent effort to understand what must

be done to start and manage a business.

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COURSE REQUIREMENTSAND GRADING

1. Initial Partnership Business Idea/Concept (written) 75 Points/ 7.5%

and Presentation

2. Quizzes (3) 375 Points/ 37.5 %3. Competitive Analysis Memo 100 Points/ 10%

4. Draft Financial Section 100 Points/ 10%

4. Final Business Plan 300 Points/ 30%5. Presentation of Final Business Plan 50 Points/ 05%

Total 1,000 Points/100%

A = 93%-100% (930-1,000 points) C+ = 77%-79% (770-799 points)

A- = 90%- 92% (900-929 points) C = 70%-76% (700-769 points)

B+ = 87%- 89% (870-899 points) D = 60%-69% (600-699 points)

B = 83%- 86% (830-869 points) F = > 600 points

B- = 80%- 82% (800-829 points)

ACADEMIC INTEGRITY

A significant component embedded in the Management Departments core values is

academic integrity. Toward this objective, the faculty members of the Department

will assess that student work submitted for academic credit in the courses taught bythem is authentic, as well as consistent with established academic standards.

Examples of academic behaviors considered a violation of academic integrity are:

abuse of academic materials and multiple submissions, among others.

Detailed explanations of academic conduct that constitute such violations of

academic integrity and its consequences are found in the Towson Universitydocument titled, Student Academic Integrity Policy. Students are urged to reviewthis document at www.towson.edu/provost/resources/studentacademic.asp.

ATTENDANCE and TEAM PARTICIPATION

Students are expected to be present at all class meetings and actively participate in

discussions. There will be a 5 point deduction for each unexcused absence.

Sixty two percent (62%) of your grade will be from the efforts of a student team.

Each team member is expected to commit to the various assignments, and to

communicate and contribute proportionately to the efforts. Teams experiencing

any problems should meet with the instructor as early in the semester as possible.

Any failures of performance or timeliness are team failures and will affect all

team members. Teams should complete assignments on a schedule which allows

time for proof-reading and editing prior to submission to the instructor.

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OVERVIEWOF COURSE ASSIGNMENTS

1. Initial Partnership Business Idea/Concept Presentation (75 Point)/ 7.5%)

This assignment involves students forming partnerships of three to four students

to identify and give a 5-6minute presentation on a realistic business startup. Itis intended as an experience to develop a business idea or concept with minimal

guidance. A two-to-three page executive summary of your business idea or

concept should accompany the presentation. The presentation is informal.Dress is casual.

The written assignment should address the following questions:

>What products/services will your venture provide?

>How will your venture be better/different than competitors?>What applicable expertise and experience is present on the team which can be

applied to the venture?

>Is this business based on invention, innovation, or imitation?

>Which market segments, demographics, geography, etc. will your venture

target?

>Why will this venture be successful?

2. Competitive Analysis (100 Points/10%)

(Three to Four pages, single-spaced, memo format, appendices can be added asnecessary) The purpose of the memo is to inform your audience of your progressin a 6-8 minute presentation. In the interim memo, your team should:

Analyze the industry in which the new venture will operate and identify

the ventures potential key competitors.

Identify the industry using the NAICS or SIC.

Describe the ventures proposed strategy.

Determine how the new venture will price its products/services.

Analyze the financial condition of the industry.

Discuss the strengths and weaknesses of the new ventures proposed

strategy in comparison to competitors.

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3. Draft Financial Plan (100 Points/ 10%)

Each team will prepare a draft Pro-Forma Income Statement including Years 1, 2and 3 revenue and expense ASSUMPTIONS and PROJECTIONS . Teams will

present their draft financial sections in an 7-8 minute informal presentation to the

class. Assignment guidelines will be provided in class as part of the Chapter 10lecture.

4. Final Business Plan (300 Points/30%)

This is the main requirement of the course. Student teams will develop a plan for

starting a business that will include, but not be limited to, separate plans formarketing, management-organization, operations, and financial projections as

per the attached outline This business plan should serve two primary goals:

A tool for clarification to the founder in the new venture creation.

A potential marketing or communication tool to interface with potentialinvestors and capital/resource providers.

Typically, the business plan should be 20-30 pages of double-spaced text with

additional pages of appendices and exhibits. Failure to include completed

financial projections will result in a grade of zero on this component.

5. Final Business Plan Presentation (50 Points/05%)

This is one of the main requirements of the course. Student partnerships willpresent their plan for starting a business. This presentation should market your

ideas and business plan to potential investors and capital/resource providers.Your team should ensure that:

State what you are seeking in terms of debt financing and/or equity

investment?

Review the key points of your business plan.

Stress why your venture is a sound risk for lenders or investors.

Review your financial assumptions and projections.

The presentation is formal and your team will be standing. The

presentation must be polished, practiced, and professional. PowerPoint

slides must be used to convey your recommendations to the potential

lender/investor. Dress is professional. The presentation should be 30-40minutes.

6. Quizzes (3) (375 Points/37.5%; 125 Points each)

There will be three quizzes each worth 125 points. Dates of quizzes are noted in

the Class Schedule. Formats will be reviewed in class.

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CLASS CALENDAR

Week One: January 28-February1

Introduction and review of course objectives and requirements

Assign Student Teams

Discuss Start-Up parameters

Team Meetings

Week Two: February 4-8

Pathways to Entrepreneurship

Lecture: Chapter 1

Review initial assignment

Week Three: February 11-15

INITIAL BUSINESS CONCEPT due Monday 2/11

Lecture: Chapter 3

Team presentations

Week Four: February 18-22

Lecture: Chapter 7

Review Business Plan format and structure

Lecture: Chapter 6

Week Five: February 25-March 1

QUIZ #1 (Chapters 1, 3, 6,and 7) Monday 2/25

Return Exams

Lecture: Chapter 9

Week Six: March 4-8

COMPETITIVE ANALYSIS due Monday 3/4

Lecture: Chapter 8

Team presentations

Week Seven: March 11-15

Lecture: Chapter 10

Review Financial Assumptions and Projection development

Review Pro-Forma development

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Week Eight: March 25-29

Lecture Chapter 11

QUIZ #2 (Chapters 8, 9, 10, and 11) (Wednesday, 3/27)

Week Nine: April 1-5

Return Exams

Lecture: Chapter 12

Assessment of Risk

Week 10: April 8-12

DRAFT FINANCIAL PLANS due Monday 4/8

Lecture: Chapter13

Team presentations

Week 11: April 15-19

Lecture: Chapters 14 and 15

Week 12: April 22-26

QUIZ #3 (Chapters 12, 13, 14 and 15) Monday, 4/22

Return Exams

Business Plan Presentation (1)

Week 13: April 29-May 3

Business Plan Presentations (3)

ALL FINAL BUSINESS PLANS DUE WEDNESDAY, 5/1

Week 14: May 6-10

Business Plan Presentations (3)

Week 15: Monday 5/13

Business Plan Presentation (1)

RETURN GRADED BUSINESS PLANS

Course Wrap-Up

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Due Dates For Graded Assignments:

*Initial Partnership Business Concept/Presentation (75 Points) Monday, 2/11

*Quiz #1 (125 Points) Monday, 2/25

*Competitive Analysis Memo (100 Points Monday, 3/4

*Quiz #2 (125 Points) Wednesday, 3/27

*Draft Financial Section (100 Points) Monday, 4/8

*Quiz #3 (125 Points) Monday, 4/22

*Final Business Plan (300 Points) Wednesday, 5/1

*Business Plan Presentations (50 Points) 4/26-5/13

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355 Syllabus Sprinsdfsg 2013

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