Entrepreneurship and New Ventures Syllabus
Spring 2007 Semester – Mr. Josh Burgoyne
(508) 693-1033 ext 226
Class Description
2.5 Credits Semester Multi-Level
This course concentrates on starting and growing new businesses. Entrepreneurship (EPS) focuses on recognizing a business opportunity, starting a business based on the recognized opportunity, and operating and maintaining that business. Many interesting case studies (Nantucket Nectars and Sony PlayStation are examples) will be used for discussion and debate. Island entrepreneurs will be featured as guest speakers. Student teams will write, articulate, and present a business plan for their own new ventures.
Grading Policy
Your grade for both quarters will be determined as follows:
· Projects / Papers 20 - 30%
· Test / Quizzes 30 - 35%
· Homework / Case Prep 20 - 25 %
· Class Participation / Effort 20 - 25%
Class Goals
This class is designed to develop effective skill-sets that will help you in your preparation for college and /or entering the “real world.” In analyzing the business and ethical side of sports and entertainment, it is my hope that you will learn:
· How to contribute and learn from a debate or discussion with your peers.
· How to write top-notch Business Plan
· How to develop effective multi-media presentations.
· To become more comfortable with public speaking in a small-group setting.
· How an entrepreneurial mind can help you in many facets of life.
Class “Gear”
You will need to bring the following items with you to EVERY EPS Class unless told otherwise:
1. A good-sized 3-ring binder – this is where you will keep all those interesting articles and case studies. It’ll also keep you nice and organized. No more “I lost it, can I have another” or “I left it in my car.”
2. College-Ruled Notebook Paper – have some stashed away in your binder.
3. A Highlighter – for all those interesting articles and case studies! You’ll be using them a lot in college, trust me! Swipe over the most interesting ideas in your reading material, take a quick look at it again at the bell and you’ll be prepared for class discussion.
4. A calculator – you’ll be crunching some numbers and analyzing financial data from time to time.
Course Outline
As you know by now, there will be lots of interesting articles and case studies! In addition the class will feature Virtual Business –, a software simulation where you open several retail stores and compete against each other to earn the most profit. We will also watch the first season of the popular business-themed reality show, The Apprentice, where 16 young, talented businesspeople compete to be the protégé of one of America’s most successful entrepreneurs, Donald Trump.
There will be a project assigned in both quarters. The 3rd quarter project will involve interviewing an entrepreneur of your choice and discussing in writing a paper. Starting in the 3rd quarter and ending in June, students will learn how to write an angel-investor-quality business plan. All students will work individually or in small teams to write a business plan of their own, and will present their findings in a boardroom setting.
We will examine 13 units in our textbook, Entrepreneurship: Ideas in Action. Here’s a list of what we’ll be covering:
Unit 1 – Should You Become an Entrepreneur?
· Entrepreneurs: Past and Present
· Is EPS Right for You?
· Identify Business Opportunities and Set Goals
Unit 2 – What Skills Do Entrepreneurs Need
· Communication Skills
· Math Skills
· Problem-Solving Skills
Unit 3 – Entrepreneurs in a Market Economy
· What is an Economy?
· The Concept of Cost
· Government in a Market Economy
Unit 4 – Select a Type of Ownership
· Run an Existing Business
· Own a Franchise or Start a Business
· Choose the Legal Form of Your Business
Unit 5 – Develop a Business Plan
· Why Do You Need a Business Plan?
· What Goes into a Business Plan?
· Create an Effective Business Plan
Unit 6 – Identify and Meet a Market Need
· The Value of Market Research
· How to Perform Market Research
· Identify Your Competition
Unit 7 – Finance, Protect, and Insure Your Business
· The Building Blocks of Strategy
· The Process of Strategic Management
· Strategic Planning Tools
Unit 8 – Choose Your Location and Set Up for Business
· Choose a Retail Business Location
· Choose a Location for a Non-Retail Business
· Obtain Space and Design the Physical Layout
· Purchase Equipment, Supplies, and Inventory
Unit 9 – Market Your Business
· The Marketing Mix – Product, Place, Price
· The Marketing Mix - Promotion
· Set Marketing Goals
Unit 10 – Hire and Manage a Staff
· Hire Employees
· Create a Compensation Package
· Manage Your Staff
Unit 11 – Record Keeping and Accounting
· Set Up a Record Keeping System
· Understand Basic Accounting
· Track Your Inventory
Unit 12 – Financial Management
· Manage Your Cash Flow
· Analyze Your Financial Performance
· Hire Experts
Unit 13 – Growth in Today’s Marketplace
· Develop a Strategy for Growth
· Global Trends and Opportunities
· Culture and Business
Case Studies / Case Prep
Case Studies are invaluable learning tools that often foster excellent class discussion and debate. If you plan on attending business school one day, you will be seeing quite a few of them. I like to assign them for the reason stated above and also to give you a leg up in terms of preparation, if studying business in college is something you hope to do. The following is a partial list of cases we might be examining:
1. Nantucket Nectars
2. Zoots – The Cleaner Cleaner
3. Zip Car
4. J Boats
5. Sony PlayStation 2
The majority of the time, cases will be read in class. I will then assign case prep for homework: 1-2 pages of notes on the most important topics that will serve as a guide for class discussion/debate on the merits of the company we’re looking at.
The Stock Market Game
We will work in teams of 3-4 and learn about the stock market. You might have already done this if you’ve taken Intro to Business or Personal Finance with Mr. Frame. This is a great simulation where you’re given $100,000 and compete against teams from across the state and country. If you’re looking for a new challenge, you may be interested in Protrade.
Protrade
Protrade.com is a professional sports stock market simulation. It is a place where you can buy and sell shares of your favorite players just like you can buy shares of companies on the financial markets. Each student will be given $25,000 to start the simulation. We will compete against Troy Aikman and other sport celebrities in a competition to see who builds the largest stock portfolio over the course of the semester.
Field Trips
We will try to take some short, in-class field trips to visit and learn from local, island entrepreneurs. I will ask the class for input on favorite businesses on the Vineyard, and we’ll try to go there. We will also schedule an off-island field trip to my college alma mater, Babson College, for their annual celebration of entrepreneurship, Founders Day.
Each spring, Babson inducts highly successful businessmen and women into their Academy of Distinguished Entrepreneurs. In recent years, people such as Arthur Blank (Home Depot), Paul Fireman (Reebok) and Bob Rosenberg (Dunkin Donuts) have been inducted. Last year, a small group of business students got the opportunity to meet Magic Johnson and Bob Kraft. At Founders Day, we will get the chance to see many student businesses in operation, and meet some world-class entrepreneurs.