New Venture Creation MGT 320: Syllabus Fall 2008 Tuesdays and Thursdays Miriam Hall, Room 106

6 Professor: Diane M. Sullivan, Ph.D. Office location: Miriam Hall, room 702 Phone: 937-229-3705 Email: sullivdi@notes.udayton.edu Website: http://academic.udayton.edu/DianeSullivan Office Hours: Tuesday and Thursday 1:00pm-2:45pm, and by appointment

Objective This course is intended to provide the student with the basic knowledge necessary to create new business ventures and to innovate within existing companies. Some goals of the course include: 1. Learn decision-making tools that can help entrepreneurs identify and develop new venture opportunities 2. Learn the importance of innovation, market research, feasibility analyses, and planning for product/service concepts 3. Learn the basics of formulating a business plan 4. Understand how to manage a new and growing business venture 5. Understand entrepreneurship as it aligns with the Mission of the UD SBA: The School of Business Administration is a learning community committed in the Marianist tradition to educating the whole person and to connecting learning and scholarship with leadership and service in an innovative business curriculum designed to prepare students for successful careers in the contemporary business environment. Text: Barringer, B.R. and Ireland, R.D. (2008). Entrepreneurship: Successfully Launching New Ventures. [2nd edition]. Pearson Prentice Hall: Upper Saddle River: NJ. (ISBN: 0-13-224057-2) Article Readings for fall 2008: Innovation is the secret to bringing good old things some new life (2007). Wall Street Journal. January 11, 2007, B6. Pagliarini, R. (2006). What is an elevator pitch? American Venture Magazine, June, 31. Grades are comprised of: Grading Assignments Individual Assignments Elevator Pitch Networking Report Exam #1 (Ch. 1-3, 5, articles, in-class material) Final Exam (Ch. 6, 9, 7, 4, articles, in-class material) Team Assignments 100 100 100

Point Value

Due Date

2:10pm

September 9, 2008, Tues. November 20, 2008, Thurs. October 14, 2008, Tues. 3:00 class, Wed., Dec. 17th from 12:20pm 4:30 class, Tues., Dec. 16th from 4:30pm 6:20pm CP #1 (10-pts): Tues., Sept 23rd (All Teams) CP #2 (10-pts): Thurs., Oct 16th (Teams 1 & 2) Tues., Oct 21st (Teams 3 & 4) CP #3 (10-pts): Thurs., Oct 20th (All Teams) CP #4 (10-pts): Tues., Nov. 11th (Teams 3 & 4) Thurs., Nov. 13th (Teams 1 & 2) CP #5 (10-pts): Tues., Nov. 25th (All Teams) Due via email by the day the team presents December 2, 2008 (Tues.): Teams 1 & 2 December 4, 2008 (Thurs.): Teams 3 & 4

100

Team Assignment Checkpoints (CP)

50

Teamwork Peer Evaluation Assessment Team Feasibility Analysis Presentation Total Possible Points (individual & team):

20 130 600

The plus/minus system will be used whereby grades will be distributed according to the following schedule: Out of 600 Points: Grade A AB+ B BC+ C CD F = = = = = = = = = = High Range 600 563 539 521 503 479 461 443 419 359 Low Range 564 540 522 504 480 462 444 420 360 0 Percentage in Course 94 100 % 90 93 % 87 89 % 84 86 % 80 83 % 77 79 % 74 76 % 70 73 % 60 69 % < 60 % GPA 4.00 3.67 3.34 3.00 2.67 2.34 2.00 1.67 1.00 0.00

Performance Standard for Grading Many of you have either already begun your transition period from being a student to a professional or you are
planning to in the near future. As such, the quality of the work you complete should be that of a professional.

The following will be used in grading your work and in assigning your final grade for the course. A = Outstanding: A student who consistently demonstrates a nuanced understanding of material,
engages in high quality participation/preparedness, exhibits excellent team management abilities, generates deliverables that demonstrate superior abilities, etc. B = Above Average: A student who consistently demonstrates above average understanding of the material, engages in participation demonstrating regular preparation, works well in groups, turns in thoughtful, well-prepared, high-quality deliverables, etc. May demonstrate sporadic outstanding work. C = Average: A student who demonstrates an understanding of the material, comes to class most of the time and participates, is usually prepared, gets along in groups, provides a positive contribution to team assignments, and turns in deliverables of appropriate professional quality. D = Below Average: A student who does not fully understand the material, misses class and/or fails to participate regularly, doesnt prepare for class regularly, gets along in groups and does a fair share but the quality may not meet group members expectations, puts deliverables together at the last minute, etc. F = Failure: A student who has an inadequate understanding of some or all of the material, misses class, does not participate, does not turn in all deliverables, and/or does not complete team assignments.

Attendance and Class Participation Attendance, advanced preparation, active preparation and contribution are vital to your career success,
particularly within entrepreneurship. It is also vital to an effective learning environment. No set weight is allocated to this component of the course. However, your instructor, at her discretion, will use this component to revise your overall grade for this coursethis may raise or lower your grade. Pop quizzes may periodically be given to help in assessing preparation. Throughout the semester I will evaluate the adequacy your individual class participation. Evaluations will primarily be based on the frequency and quality of your contributions to in-class discussions as well as your contributions during in-class exercises (both individual and team-based). If individual class contributions are not deemed adequate (e.g., if you never speak up in class) or value-adding to the class discussions and in-class projects (e.g., your contributions must be meaningful to the topics under discussion), your overall final grade can be increased or decreased. These evaluations will occur on an ongoing basis and a final evaluation regarding each students semester-long participation quality will be made at the end of the semester. A few notes on class contributions: The assessment of contribution will be based first on the quality and second on the quantity of your participation. Further, the extent of both attributes will be solely determined by the instructor. While much of the focus of class discussions is the application of

analytical frameworks/tools to guide entrepreneurial decisions, any comments adding to the classes understanding of the issues, cases, firms, entrepreneurial topics, etc. are encouraged. Comments reflecting thorough preparation which extend the class discussion can positively affect your grade. Conversely, offthe-cuff and non-value adding contributions will negatively affect your grade. What is a contribution? Raising and answering substantive and relevant questions Sharing relevant ideas, observations, and personal experiences Generating potential solutions Relating/synthesizing ideas of others to increase everyones understanding of a concept Pointing out relationships to earlier discussions Please note that criticism of others ideas/comments without substantive recommendations or alternatives is not considered a contribution Other Policies Electronic Devices

1. No electronic devices are to be used in the classroom (e.g., cell phones, PDAs, laptops, etc.). 2. Throughout the semester, there are certain designated in-class workshop days where a laptop may be used
in class. These days are listed on the itinerary. Academic Integrity 1. Academic dishonesty will not be tolerated. This is a policy that I take very seriously. If cheating, plagiarism, or academic dishonesty of any kind occurs, the offender will be automatically dismissed from the course with a failing grade. 2. The University Bulletin specifies what constitutes academic dishonesty, so I suggest that you read it. For example, beyond those types of dishonesty discussed in point one in this section, academic dishonesty also involves enabling others to cheat. That is, if you lend an assignment to someone, and they copy it (or just portions of it), you will receive the same penalty as they do. It doesnt matter if you tell them not to copy, if they do so anyway, you share liability with them. If it is a group assignment, I use my judgment to decide what to do, but everyone within the group can receive the same grade. 3. With regard to citing references that you have used within the body of your work, you must cite all sources. Anything that is cut and pasted should be included in quotes and cited in your bibliography. Do not excessively use direct quotes, either. Be sure to paraphrase if direct quoting seems excessive. If you are unclear of what to cite or not, contact me for clarification before the assignment is due. 4. For any emails sent during the semester, I will use the Universitys Lotus Notes email system and the corresponding email addresses for the members of the class. Classroom Professionalism Always be respectful of others in the class (professor and students); their opinions and comments. 2. Respect extends beyond the classroom. The content of any emails, group meetings, online chat meetings, etc., should be carefully thought out. Please be respectful of each other and the professor, including your electronic transmittals. This is a formal business course and I expect you to conduct yourselves as business people inside and outside of the classroom, including correspondence. 3. The professor reserves the right to alter the syllabus, itinerary, or class assignments at any time. 4. Any behavior deemed by the professor as unprofessional, disrespectful, inappropriate, and/or rude will result in up to a 20% reduction in your final grade. 1.

New Venture Creation MGT 320 Course Outline for Fall 2008 Readings and assignments are due on the day noted on this itinerary. Please come prepared to discuss the readings assigned and with the downloaded slides from the course website. Changes can occur to maximize learning. Class Date August 21 Day Thursday Topics *Classes Begin* Course Introduction Assignment Discussion Reading and Assignments Due

August 26

Tuesday

Introduction to Entrepreneurship & Review Why entrepreneurship? Why now? Who is an entrepreneur? What types of startups do they found? Recognizing Opportunities and Generating Ideas Day #1 The Art of the Elevator Pitch Recognizing Opportunities and Generating Ideas Day #2 The value of networking

Chapter 1 Article Reading: Innovation is the secret to bringing good old things some new life Chapter 2 Article Reading Assignment(s) Due: Author: Robert Pagliarini Chapter 2

August 28

Thursday

September 2

Tuesday

September 4

Thursday

September 9

Tuesday

Elevator Pitch #1, Class selection of team assignment businesses, and team formation

Individual Assignment Due: One-minute elevator pitch (100-points)

September 11

Thursday

Product/Service Feasibility Analyses Day #1

Chapter 3

September 16

Tuesday

Product/Service Feasibility Analysis Day #2 Conducting Primary Research Product/Service Feasibility Analysis Day #3 The case of IDEO

September 18

Thursday

September 23

Tuesday

Feasibility Analysis Workshop Day Industry, Competitor, & Market Feasibility Analysis Day #1 Is our ventures industry attractive? Industry, Competitor, & Market Feasibility Analysis Day #2 Industry Structures; Competitive Analysis Grids

Team Checkpoint #1 (10-pts) All Teams

September 25

Thursday

Chapter 5

September 30

Tuesday

Chapter 5

October 2

Thursday

Team in-class Exercise

Team in-class Exercise: Emerging Industry New Product Development Task

October 7 October 9 October 14 October 16

Tuesday Thursday Tuesday Thursday

Exam #1 Review Mid-term Break No Class

Exam #1 (Chapters 1-3, 5, articles, in-class material) Feasibility Analysis Workshop Day

Individual Assignment: First exam (100-points)

Team Checkpoint #2 (10-pts) Teams #1 and #2 Team Checkpoint #2 (10-pts) Teams #3 and #4

October 21

Tuesday

Feasibility Analysis Workshop Day Organizational Feasibility Analysis Day #1 The Business Model and Organizing the Venture to Create the Most Value Organizational Feasibility Analysis Day #2 The Business Model and Sustaining a Competitive Advantage in the Marketplace How Firm Resources can Help to Sustain a Competitive Advantage

October 23

Thursday

Chapter 6

October 28

Tuesday

Chapter 6

October 30

Thursday

Feasibility Analysis Workshop Day Organizational Feasibility Analysis Day #3 The Importance of the New Venture Team Ethical and Legal Issues Associated with Founding New Ventures

Team Checkpoint #3 (10-pts) All Teams Chapter 9

November 4

Tuesday

November 6

Thursday

Chapter 7 Team Checkpoint #4 (10-pts) Teams #3 and #4 Team Checkpoint #4 (10-pts) Teams #1 and #2

November 11

Tuesday

Feasibility Analysis Workshop Day

November 13

Thursday

Feasibility Analysis Workshop Day

November 18

Tuesday

Human Resource Management Issues for New and Growing Ventures

November 20

Thursday

The Business Plan

Chapter 4 Individual Assignment: Networking Experience Report due (100points)

November 25 November 27 December 2

Tuesday Thursday Tuesday

Feasibility Analysis Workshop Day

Team Checkpoint #5 (10-pts) All Teams

* Thanksgiving Break, No Classes *

Teams #1 and #2 Feasibility Analysis Presentation and Peer Evaluation Day Teams #3 and #4 Feasibility Analysis Presentation and Peer Evaluation Day *Last Day of Class*

Team Assignment: Feasibility Analysis Presentations (130-pts) and Peer Evaluations due (20-points) Team Assignment: Feasibility Analysis Presentations (130-pts) and Peer Evaluations due (20-points) Final Exam Review

December 4 December 9

Thursday Tuesday

Final Exam (100-points) (Chapters 6, 9, 7, 4, articles, and in-class material)

3:00 4:15pm class, final exam is Wednesday, December 17th from 12:20pm-2:10pm 4:30 5:45pm class, final exam is Tuesday, December 16th from 4:30pm 6:20pm

New Venture Management: Individual Assignments Assignment Name: Assignment Type: Points: Due Date: Overview Each student must attend a networking event throughout the semester and submit a written report on the experience. Specifically, each student will attend at least one business meeting such as a chamber of commerce function, i-Zone event, EATT luncheon, or other networking meeting (e.g., event identified in the Dayton Business Journal, eWomenNetwork event, etc.), and then complete a written report on the experience. Assignment Specifics You may attend an event as a team or in small groups, but each student is to individually practice networking with five different people this semester. None of these can be your fellow students. You will need to collect 5 different business cards to use in your report. If you do not, then you must attend additional events until you have collected a total of 5 business cards. Note: dont procrastinate on this; get started early in the term! Among other avenues, you can identify a business networking event in the Dayton Business Journal or on one of the following websites: http://www.daytonchamber.org/ http://www.sba.udayton.edu/entrepreneur/local_entrepreneurship_links.asp https://events.ewomennetwork.com/event/calendar.php?lid=33 http://www.daytonizone.org/ Before Attending the Event Submit an event announcement, brochure, or email with event information to Dr. Sullivan to obtain approval to use the event for the Networking assignment. Be sure to get my initials on the announcement or a confirmation via email, and keep it to attach to your Networking Experience Report. Preparation: Obtain Business Cards It is highly suggested that you obtain your own business cards before you attend a networking event. www.vistaprint.com (cards are free, pay S&H only). Choose Proper Business Attire: When you register ask about the typical attire. Know Information About the Event event purpose, location, time to arrive, parking, and cost. Ask if there is a discount for UD students. Know about Key People Attending the Event Do some research ahead of time. Practice Handshake firm, use whole hand (not just fingers). Other Preparation Tips: Read the newspaper on the day of the event so you have something interesting to discuss. Plan What to Say develop a 30-Second Elevator Speech about yourself and why you are attending the event. While you are likely to change what you actually say, you need to be prepared to say something intelligent. This will also help reduce nervousness. Remember you represent UD, the School of Business, and yourself as a business person. It is extremely important that you are professional and polite. This is a heavy responsibility; take it seriously. During the Event: Name Tag: Write your name per the convention of the event. If you dont know, ask someone Payment Receipt: Keep for tax purposes and for proof you attended this event Networking Experience Report Individual Assignment 100-points November 20, 2008, Thursday

Be aware of your personal safety just as you would be at any other organizational meeting

After the Event: Thank all sponsors and send thank you notes to event leaders - call, email, or send note. Write a report between 5 and 10 pages (double-spaced) in length that uses the content outline below. Written Report Outline Please follow the outline below for your report. Use the outline to organize the contents of your paper. Be sure to use class terminology (e.g., specifically networking concepts) as you describe your experience.

1. 2. 3.

4. 5. 6. 7.

8.

Include a cover sheet Provide a brief description of the event (e.g., event name, date, time, and location of event, why you chose to attend this event, advertised price, and the price you actually paid, etc.) Elevator Speech What did you plan to say? Include your prepared ice-breaker speech in the content of your paper. What did you actually end up saying? Be specific and include excerpts from conversations. What Was Most Difficult Discuss concerns you had before the event and what was difficult once you arrived. What Was Easier Than You Expected Discuss what went better than you thought and if you had any pleasant surprises. Information, Leads, and Referrals Obtained Describe any important information you obtained as a result of attending the event (e.g., career, internship opportunities, research about your teams business, etc.). Importance of Networking Ask some of the attendees at the event(s) what networking as meant to them and what a good network looks like for them (e.g., what would their ideal network look likeof whom would it be composed?). Ask for specific examples of if and how networking has helped them (both formal networking at networking events and informal networking with friends and family). Discuss what you thought of networking before the event and what you think after the event. Discuss what role you expect networking to play in your career. Appendices All of these documents must be included. . Copy of event approval with Dr. Sullivans initials/email confirmation Photocopy of at least 5 business cards you received from at least 5 business people.

Format and Cautions Use 12-point Times New Roman font Double space your work Text should be printed on only one side of the paper Use headings corresponding to the above outlined sections (e.g., description of event, elevator speech, etc.) Insert page numbers within your paper Staple your paper and the supporting documents together Write in complete sentences Be cautious of your writing skills. Your writing skills must be suitable for your report to be submitted to a lender or investor. Proofread your paper to ensure there are no problems with your writing skills. Papers are due at the beginning of the class period. Late papers will NOT be accepted.

Compare your content and format with the instructions. Points can be lost for not following directions.

Assignment Name: Assignment Type: Points: Due Date:

Elevator Pitch #1 Individual Assignment 100-points September 9, 2008, Tuesday

For this assignment, identify an opportunity for a new venture and conduct a one-minute elevator pitch of that venture in front of the class. The business must be a for-profit business and can be a salary-substitute or a growthoriented business. The new venture elevator pitches conducted by the class are very important as up to five of them will become the topic of your group feasibility projects. Consequently, carefully consider and prepare these presentations. After everyone in class has completed the elevator pitches, members of the class will vote and select up to four that seem the most promising upon initial inspection. Teams will then be formed around the selected business opportunities. Written Portion (70-points) In addition the assignment requires a detailed written description of the business opportunity that includes: 1) the verbal elevator pitch, and 2) a written justification of how the opportunity meets the five criteria of an opportunity. The written document must include the following:

1. Include a cover sheet.

2.

3.

The content of the actual elevator pitch conducted in front of the class. A description of how this opportunity meets the following five criteria of an opportunity, as discussed in class:

This section should be based on research, not solely on speculation.

1. Attractive (What makes this venture good for an entrepreneur to start? What value does the
entrepreneur/ investor(s) extract from the opportunity?)

2. Durable (How is the business opportunity competitively sustainablenot easily imitated by

4.

competitors, unique in some way(s) that allows for a competitive advantage?) 3. Timely (e.g., What environmental, market, or industry trends suggest now is the time for this venture?) 4. Adds value to customers (What value do customers extract from this business? Does it solve a problem or fulfill a need? Does it save them time/money?) 5. Adds value to network partners (e.g., How does it add value to others that you need to help make the firm workyour resource providers. Be sure to specify who the necessary network partners are.) A reference page that includes research conducted.

Written Paper Format Use 12-point Times New Roman font Double space your work Text should be printed on only one side of the paper Use headings corresponding to the above outlined sections (e.g., elevator pitch, attractive, durable, etc.) Insert page numbers within your paper Staple your paper and the supporting documents together Write in complete sentences Be cautious of your writing skills. Your writing skills must be suitable for your report to be submitted to a lender or investor. Proofread your paper to ensure there are no problems with your writing skills. Papers are due at the beginning of the class period. Late papers will NOT be accepted. Compare your content and format with the instructions. Points can be lost for not following directions. Elevator Pitch (30-points)

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Below are the components that the verbal pitch should include. Also, be sure to follow guidelines from the lecture on the art of the elevator pitch. The pitch should be a short, simple description of your venture idea that your grandmother could understand by the time you ride up three floors in a typical elevator. o You have one-minute to complete your pitch. You will be stopped if you exceed one-minute and points will be lost for any components not covered. You are NOT allowed to have notes of any kind and the, verbal, pitch must explicitly include the following, much of which is based on research conducted and not on your assumptions: 1. The Hook 2. A brief description of the product/service concept 3. A brief description of the market (based upon your research and not on your assumptions) 4. A brief description of the competition (based upon your research and not on your assumptions) 5. A description of how the opportunity differs from competitors and/or similar products/services 6. A brief description of how the business will make money (e.g., the revenue model) I will also consider the presentation quality and content as I evaluate the elevator pitches, as follows: o Presentation: Excellent eye contact; Exhibits evidence of rehearsal (e.g., excellent flow, smooth throughout pitch); Absence of speech tics (e.g. ummmmm), no nervous laughter/body language; Clear speaking voice, and no offensive language o Content: The pitch contains the six components of a pitch listed above; I get it on first pass; it doesnt require a lot of backstory; It appears to be lucrative; You have identified a competitive advantage that seems reasonably sustainable; It is reasonable to assume you can execute the idea. There are some limitations on the types of businesses that can be topics for new venture pitches. Ideas must be ethical, moral, and stretch you as a student. It is easy for students to stay within their comfort zone, and gravitate towards certain ideas. Too frequently that limits the learning value of opportunity exploration. Pitches too closely conforming to those listed below will receive a 10% grade reduction. If you are not sure is an idea is appropriate, ask Dr. Sullivan. o Ethics and morality:

Businesses must fit with the Marianist Values and mission (e.g., no sweatshops, etc.) Alcohol related ventures: Any ventures requiring a liquor license are unacceptable. Scams: pyramid schemes, work at home, etc. are unacceptable

Ideas that have been done too many times and are not acceptable this year include: T-shirt business Bed & breakfast Campus video store Student housing re-hab Grocery delivery businesses Campus coupons/books, etc. On-line retailer of student products Auto detailing, mobile car service Pet day care Lawn service businesses Snow removal businesses Convenience stores Fast Food restaurants

* Note: A final note on the elevator pitches that are undertaken in classyou should not pitch an idea that you already intend to pursue in the future or one that you would not like to share with anyone at this point. Please realize that the business ideas pitched in front of the class are fair game and if there is anything proprietary involved with your venture idea, you should not use it for a topic in this class.

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New Venture Creation: Team Presentation Assignment Overview At the beginning of the semester the class will be broken up into four teams of 5-6 people. During the semester, the team will study the feasibility of a new venture opportunity. Feasibility analysis is the process of determining whether a business idea is viable. It is a preliminary evaluation of a business idea, conducted to assess if the idea is worth pursuing. It takes the guesswork out of business launch and provides a more secure notion that a business idea is viable. Entrepreneurs often underestimate the competition or overestimate their personal chances for success. Feasibility studies should be conducted after opportunity recognition and before completing a full business plan. On September 9, 2008 students will conduct one-minute elevator pitches of an entrepreneurial opportunity they identified. Then, the class will vote on the four most viable opportunities1. Teams will be formed around the selected opportunities. Over the semester, each team will complete three feasibility analysis studies (product/ service, industry/market/competitive, and organizational2) and present their findings to the class in a 30-minute presentation. Students will self-select their teams on September 9, 2008. In addition, teams are responsible for completing presentation analyses/tasks over the semester. To help teams manage their time, there are five teamwork checkpoints that teams must meet over the semester (see last page of syllabus). At each checkpoint, teams are to have designated tasks completed and Dr. Sullivan will review the teams progress on the checkpoint due date. Team checkpoint days will also be in-class feasibility analysis workshop days where teams can work on their projects. If during the course of the analyses the team determines the idea is not feasible they must make an honest attempt to make it feasible. Teams who determine their idea is not feasible will be asked to provide evidence that the team has tried to make it feasible (e.g., turn in additional research, different written descriptions of the initial idea, etc.). Because the objective of this assignment is learn to assess the feasibility of a potential business opportunity, grades will not be hurt if the concept is truly not feasible at the end of the semester as long as evidence has been provided. A Note on Working in Teams Firms are increasingly being started and run by groups of individuals as opposed to solo individuals. Further, organizations are increasingly using project teams as they are better at executing organizational tasks. One vital assumption relative to the use of teams in business is that all members perform well and execute tasks appropriately and timely. Members who do not work up to the teams/firms standards are often fired or reassigned to other duties. To align the team project to the real-life business world, the following policies will apply to teamwork. If a team members lack of contribution is hurting the teams progress that member may be fired by a unanimous vote of the team members. The fired member will then complete all remaining team assignments on his/her own. The presentation will be replaced by individual written analyses. The assignments are due the same day as presentation. A total of 20 points will be deducted for every 24 hour period these assignments are late. Alternatively, if an individual determines that he/she is unable to work in their team, they may either: 1) Try to find another team to join. The new team must unanimously vote the individual on to the team. 2) The member may complete all remaining team assignments on his/her own via written analyses. These analyses are due the same date as the presentation. A total of 20 points will be deducted for every 24-hour period assignments are late. Individuals who leave teams will receive grades earned on their teams assignment during the time they were a part of the group. Any team member changes throughout the semester must be reported to Dr. Sullivan. Peer Evaluations (20-pts): Students must complete an evaluation each team members contribution, due to Dr. Sullivan via email on the day the team presents. The evaluations are worth 20-points of individual team assignment grades. The peer evaluation form is located on my website (www.academic.udayton.edu/DianeSullivan).
1

Should the class be unable to come to a consensus on the opportunities to be studied, Dr. Sullivan will act as the final say in the opportunities that will become the topics for the team projects. 2 Note that the financial feasibility analysis topic is covered in the MGT 321, Financing Entrepreneurial Ventures course, and is thus not a part of this course.

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Assignment Name: Team Presentation Assignment Type: Team Assignment Points: 150-points (130-pts for presentation, 20-pts for peer evaluation) Due Date: Teams #1 and #2 Present on Tuesday, December 2, 2008 Teams #3 and #4 Present on Thursday, December 4, 2008

NOTE: The following is basic presentation information. For details as to what tasks are to be completed for the assignment, see the online presentation handout (www.academic.udayton.edu/DianeSullivan).

General Team Presentation Information:

In class we will discuss feasibility analyses entrepreneurs should conduct to determine if the business is viable. Each team will conduct three feasibility analyses on their business opportunity. As we study each feasibility component in class teams should work on that component of their presentation. At the end of the semester, teams will present the three feasibility analyses conducted on their opportunity and synthesize this information to come up with a final feasibility conclusion for the venture. As of the conclusion of the presentation, the team should conclude if the business is feasible. If it is not feasible, discuss analyses leading to this conclusion and actions taken to try to make it feasible. Below is a brief description of the three feasibility analyses that will be completed. Failure to discuss all topics listed below will results in a reduction in grade. Follow the instructions provided and if you have any questions, contact the professor.

Team Presentation Format:

The entire presentation must be completed within 25 to 30 minutes. Teams will be stopped at 30 minutes. PowerPoint slides are due to Dr. Sullivan before the presentation, printed 3-per page, on one-side of the paper. All team members must speak during the presentation. Late presentations and/or documents will not be accepted and a zero will be given for the assignment. Product/Service Feasibility Analysis Study

Feasibility Study #1 Name:

Purpose Provide an assessment of 1) the technical feasibility of creating/delivering the offering and 2) the overall consumer appeal of the product/service being proposed. Refine the product/service relative to feedback received. 1. Conduct a concept statement evaluation Write a concept statement for the teams business. Use the concept statement and the primary research skills learned in class (e.g., method and format), to collect initial feedback about the concept from 2 industry experts and 3 individuals in the target market. Conduct either surveys or interviews with the industry experts and target market participants Write a (survey) cover letter or (interview) cover story for the industry experts and the target market Write a survey/interview questions for the industry experts and target market participants Collect the data and modify the business according to the feedback Conduct a concept test Develop an illustration of your business concept

2.

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Use the illustration and the primary research skills learned in class (e.g., method and format), to collect feedback about the concept and the target market profile from at least 30 people in the target market. Conduct surveys with the target market participants Write a cover letter for target market participants Write a survey for the target market Collect data from at least 30 people and make final business modifications according to the feedback 3. Solidify the profile of your target market (e.g., demographics, psychographics, etc.) Using data obtained from the concept test survey, determine the profile of the market your firm will target 4. Assess the potential for intellectual property (IP) protection Determine if you would pursue any IP and see if others have already protected similar IP (www.uspto.gov). Feasibility Study #2 Name: Industry/Market and Competitive Environment Feasibility Analysis Purpose Assess the overall appeal of the industry, market, and competition relative to the proposed business/product/service. 1. within as well as its main characteristics Determine the industry the venture will compete

2.

Assess the attractiveness and structure of the industry within which the firm will compete: Assess the industrys attractiveness by conducting a Porters Five Forces analysis Determine the structure of the industry within which the firm will compete and if you can capitalize on entrepreneurial opportunities present within that type of industry 3. Conduct a competitive analysis Identify the main direct and indirect competitors and their main characteristics Use a competitive analysis grid to assess any favorable firm attributes or detriments relative to competitors Feasibility Study #3 Name: Organizational Feasibility Analysis Purpose Determine how the firm will be organized and if the firm has sufficient human resources/expertise and other resources necessary for success.

1. Develop a practical business model for the firm using Porters Value Chain model. 2. Assess the sufficiency of the expertise of the venture management team (e.g., the people in your group) 3. Determine additional human resources that need to be hired to make the venture concept work.
4. Conduct a VRIO analysis Evaluate tangible and intangible resources to determine the firms competitive and economic implications.

Documents to be turned in on the day the team presents General:

Cover sheet PowerPoint slides out 3-slides per pageonly print on one side of the page.

Product/Service Feasibility Analysis documents include the following in the appendices Concept Statement Deliverables The concept statement

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Concept statement target market deliverables Concept statement cover letter/story (target market) Concept statement survey/interview (target market) Concept statement tabulated results (target market) Concept Statement industry expert deliverables Concept statement cover letter/story (industry expert) Concept statement survey/interview (industry expert) Concept statement tabulated results (industry expert) Concept Test Deliverables The concept test illustration Concept test target market deliverables Concept test cover letter (target market) Concept test survey (target market) Concept test tabulated results (target market)

Organizational Feasibility Analysis documents to include the following in the appendices: Include each team members resume.

Other documents: Be sure to include a bibliography of the sources that you used for research purposes. Assignment Name: Team Assignment Checkpoints Assignment Type: Team Assignments Points: 50-points Total (10-points per Checkpoint) Due Date: Ongoing throughout the semester, see due dates below and in the itinerary To help teams manage their time and workload relative to the team presentation assignment, throughout the semester there will be five team presentation assignment checkpoints. At each checkpoint, in class, I will briefly visit each team to review the tasks completed by the team. If assignment components are not completed on the day of the designated checkpoint per the schedule below, teams will lose points. Each checkpoint is worth 10-points. The presentation assignment tasks are to be completed by the respective checkpoint dates relative to the following: Checkpoint Checkpoint #1 (10-points) Due Date All Teams: Tuesday, September 23, 2008 1. 2. 3. 1. 2. 3. 4. 5. Tasks to be Completed Concept Statement Written Concept Statement Cover Letter Written Concept Statement Survey Written Concept Statement Data Collected and Results Tabulated Concept Test Illustration Developed Concept Test Cover Letter Written Concept Test Survey Written Intellectual Property Determination and uspto.gov Database Search Completed

Checkpoint #2 (10-points)

Teams #1 and #2: Thursday, October 16, 2008

Checkpoint #2 (10-points)

Teams #3 and #4: Tuesday, October 21, 2008

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Checkpoint #3 (10-points)

All Teams: Thursday, October 30, 2008

1. 2. 3. 4.

Concept Test Data Collected and Results Tabulated Target Market Profile Solidified by Primary and Secondary Research General Industry Information Compiled Porters Five Forces Analysis Completed

Checkpoint #4 (10-points) Checkpoint #4 (10-points)

Teams #3 and #4 Tuesday, November 11, 2008 Teams #1 and #2 Thursday, November 12, 2008

1. 2. 3. 4. 5. 1. 2. 3. 4.

Competitive Analysis Grid and Competitive and Evaluation Completed Industry Structure Analysis Completed Porters Value Chain Development Completed Tangible and Intangible Resources Identified VRIO Analysis Completed Team Member Resumes Compiled Founding Team Expertise Evaluation Completed Future Human Resource Needs Evaluated Rough Draft of PowerPoint Slides Developed syllabus for list of appendices)

Checkpoint #5 (10-points)

All Teams: Tuesday, November 25, 2008

5. Appendix Documents Assembled (see page 13 of

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