Course:
SB 322 Entrepreneurial Strategy & Assessment Time: M, W 9:30-10:45 am Classroom: CB 178 – Camp Building Instructor: Augustine A. Lado, Ph.D. Office: SN 335 – New Snell Hall Office Phone: (315) 268-6608 Office Hours: M, W – 11:00 am – 12:00 noon; Cell: (315)
212-9558
and 3:00 – 4:00 pm Fax: (315) 268-3810 Tuesday – 2:00 – 4:00 pm; E-mail: alado@clarkson.edu Thursday Morning: by appointment
Course Description
This course provides a continuation of the CUSB Entrepreneurial Studies
Concentration. The course objectives focus on critical analysis of
opportunity assessment and entrepreneurial strategy. Specifically,
the course covers analysis of the strategic challenges involved in
the initiation, evolution, development, and control of entrepreneurial
ventures. Course activities will primarily involve the investigation
of: (a) critical issues facing leaders of entrepreneurial firms, (b)
proposed solution, and (c) realized outcomes. The course relies heavily
on the case study method to convey and grasp complex issues in entrepreneurship.
Text & Reading
Material
1. Kuratko, D. F., & Welsch, H. P. (2004). Strategic Entrepreneurial
Growth. Mason, OH: Thomson/South-Western.
2. Supplemental Case Packet – available at the University Book
Store.
3. Additional readings are available online (instructions for online
retrieval will be provided in class)
4. Handouts in class
CUSB Mission and Course Objectives
The mission of the Clarkson University School of Business (CUSB) is
to create and disseminate knowledge and educate leaders who are energized
by the entrepreneurial spirit, nourished through scholarship, and
beckoned to serve the community. CUSB seeks to provide its students
with competencies for organizational leadership, strategic understanding
of information technology, and awareness of global, ethical, and
diversity issues. The school also seeks to provide students with
skills for critical thinking and problem solving, teamwork, communication,
and interpersonal relationships, among other things.
This course will contribute toward the attainment of CUSB’s mission
through:
(a) building and fostering the entrepreneurial leadership skills necessary
for identifying, analyzing, and capturing entrepreneurial opportunities;
(b) critically analyzing and developing entrepreneurial business plans;
(c) developing ethical/moral awareness and sensitivity to issues and
challenges facing entrepreneurs and entrepreneurial firms;
(d) integrating theory and practice in entrepreneurial strategy assessment;
(e) developing and fostering communication and team-building skills
Specific Knowledge/Skill Areas
This course is designed to develop knowledge and skills for (a) entrepreneurial
opportunity recognition and assessment; (b) industry/competitor analysis;
(c) resource/capability assessment; (c) entrepreneurial strategy
development, implementation, and evaluation; and (d) writing effective
business plans. You will also hone analytical, critical-thinking,
decision-making, and leadership skills (including communication skills).
Student Learning Outcomes
By the end of the course, students should be able to:
• explain the entrepreneurial process of new venture creation, growth
and
development.
• critically assess the effectiveness of new venture strategies.
• write and evaluate effective business plans for launching and growing
entrepreneurial ventures.
• develop entrepreneurial strategy (including mission/vision, goals, plans,
and
outcomes)
• develop critical thinking and problem solving skills for effectively
addressing
various issues and challenges facing entrepreneurs/entrepreneurial firms.
• develop an appreciation of how entrepreneurship can make a difference
in our
surrounding world.
Methods of Instruction
A variety of instructional methods are used in this course, including
the case method, lecture, experiential exercises and class discussion.
Lectures are intended to provide a synthesis of core ideas, concepts/theories
related to the course (including any material not covered in a specific
chapter/reading), rather than a chapter-by-chapter tutorial on concepts/frameworks.
It is your responsibility to read and demonstrate a clear understanding
of all assigned text and readings.
Performance Expectations
I expect you to read all assigned readings and cases before coming
to class, and to participate effectively in class discussions. You
will not be able to participate effectively if you have not read
the material. The case assignments will require you to work in teams,
meet outside of class, and pull your weight as a team member.
Class Attendance and Participation
Regular class attendance is required. Please plan to always come to
class on time and avoid – as much as possible – actions
(such as tardiness, cell phone use, and other noise that may create
a sub-optimal learning experience for class). I expect every student
to be fully prepared for class. At a minimum, this involves reading
and comprehending the assigned cases and readings. You are also expected
to read current business periodicals/magazines (such as Business Week,
Fortune and The Wall Street Journal) to gain current understanding
of entrepreneurial issues and challenges. Although regular attendance
is important, it is not sufficient to fully realize the benefits of
active learning. You must also be prepared to ask good questions, and
provide cogent answers to questions related to the course material.
We all gain if everybody shares their knowledge, experiences, ideas,
or opinions in class. A portion of the course grade will be allocated
to class attendance and participation (40% for attendance; 60% for
class participation). However, a record of 5 or more absences from
class provides a sufficient ground for allocating “0” (zero)
point for class attendance/participation!
Case Analysis and Presentation
All students will participate in team-based case analyses and presentations.
An overall grade will be assigned for the team's work; however, individual
contribution to team work will be apportioned based on peer ratings
and instructor judgment. Students are expected to demonstrate a high
standard of professionalism in all assignments.
The case presentation may be structured around specific discussion
questions. Each presentation should last no more than 25 minutes. A
question-and-answer session will follow. Each team is responsible for
leading class discussion (including fielding questions). I will then
synthesize the main themes from the case and integrate with relevant
theoretical frameworks/concepts. The presentation should reflect a
thorough level of preparation by all group members.
Business Plan
Business plan writing is a critical part of any entrepreneurial course,
including this course! Working alone or in pairs, you will be asked
to develop detailed business plans for launching, growing, or restructuring
an entrepreneurial firm. The plan must include a clear identification
of entrepreneurial opportunity, external (industry/market) analysis,
internal (resource/capability) analysis, and strategy development
and implementation. This is your major “deliverable” from
this course. The evaluation standard used for assessing the quality
of this assignment is that of a venture capitalist considering whether
or not to provide funds for the business plan. Thus, you must exercise
due diligence and professionalism in developing and writing your
business plan. Details of the guidelines for writing an effective
business plan will be provided later. Your business plan must be
thorough and rigorous, applying relevant analytical models and concepts
gained from this course (and related courses). The report must also
reflect evidence of sound research and critical thinking. I expect
the business plan to be 15-20 pages of text (double-spaced, with
regular font (i.e., 12-point font), with at least one-inch margin
on each side). Prior approval of business plan selections is required,
in order to determine its scope, feasibility and relevance to course
learning objectives. Business Plan due date is November 29 (in class).
Tracking an Entrepreneurial Venture
To hone critical analysis skills, you will be asked to choose an entrepreneurial
venture (smaller to mid-sized firm) and write a case-study report,
providing a cogent analysis of the strategic issues/challenges related
to the establishment, growth/development, restructuring, and control
the entrepreneurial venture. Based on applicable concepts/tools derived
from the text and readings, you are to (a) analyze the strategy for
growing the venture, and (b) evaluate its implementation and outcomes.
The case study report is designed to incorporate/integrate the main
themes of the course: (a) entrepreneurial leadership, and (b) entrepreneurial
venture growth and development. The report will be submitted in three
cumulative parts (Part I = 5%; Part II = 7.5%; Part III = 12.5%).
This exercise provides an opportunity to integrate theory with “real-world” practice
in launching, growing and managing/controlling an entrepreneurial
firm. Details of report format/content and grading criteria will
be provided within during the third week of the semester (for due
dates, see “Tentative Course Outline” below).
Exams
There will be a mid-term exam and a final exam, covering relevant text
and lecture material. The exams consist of multiple-choice and essay
questions covering assigned text and reading material (any lecture
material not covered in assigned text chapters and readings). The
exams may not cover cases and experiential exercises directly; however,
you may use the knowledge gained from this material to develop your
reasoning more fully in answering the essay questions. The allocation
rule of thumb is: 40% for multiple-choice questions and 60% for essay
questions. Essays will be graded on the basis of accuracy, clarity,
succinctness, persuasiveness and strength/force of logic. The final
exam is cumulative (consisting of approximately 25% of material covered
before, and 75% of material covered after, the mid-term exam).
Learning Exercises: To ensure adequate preparation and foster active
learning, you will participate in a variety of learning-based exercises.
These include short essays, case write-ups, video clips/case studies,
entrepreneurial stories (from actual entrepreneurs), quizzes, etc.
You may also be asked to identify and write about entrepreneurship-related
articles featured in the current business media. You will be asked
to do these exercises either in class or out of class. There is no
make-up for in-class exercises missed! If you are unable to make it
to class, please let me know in advance. Note, however, that any such
notice does not absolve you from any assignment given in class.
Individual
Contribution to Group Work: Teamwork is a critical component
of this course. Students will be assigned to groups during the first
week of the Fall semester. Each student is expected to contribute his
or her fair share to the group work. Cooperation and trust rather than
competition and opportunism are the keys to effective group accomplishment.
A grade will be assigned to each piece of teamwork (case analysis/presentation).
However, 70% of the group grade will be allocated to individual contribution,
based on peer evaluation and my own assessment. If everybody contributes
equally to the group work, the individual grade will be equivalent
to the group grade. However, if one person shirks and contributes close
to zero effort, then his or her score will be only up to 30% of the
group effort!! Therefore, it is in everyone's enlightened self-interest
to work cooperatively in order to effectively accomplish teamwork.
Peer
Feedback: This course gives you an opportunity to provide constructive
feedback to your peers (team members and classmates). I will provide
a peer evaluation sheet, reflecting relevant criteria for judging individual
contribution to teamwork. A portion of your course grade will be used
to assess the quality of your peer feedback (see Grading below).
Writing
Written communication is an important aspect of professional work,
and is a crucial requirement in this course. I expect you to have
acquired the writing skills necessary for effective communication
in this course. If you need additional help with honing your writing
skills, please seek out help at the writing center (located in Snell
Hall, room 139; telephone: 268-4439; email: writcent@clarkson.edu).
In addition, my colleague, Professor Michael Wasserman, has put together
valuable business writing guidelines, which are posted on his web
site at: http://www.clarkson.edu/~mwasserm/ (click “business
writing”); also available at: http://www.clarkson.edu/~compeaum/writing.htm
Your written work should reflect the essentials of effective communication,
including correctness, clarity, conciseness, and completeness. You
should strive to provide a persuasive and logically compelling argument.
High-quality writing is an acquired skill; it is a function of imagination,
disciplined by formal rules of writing and writing-related work habits,
such as outlining, editing and proofreading of work (beyond the use
of a spell-checking function in an electronic word processor!). I
won’t accept any excuse for turning in a sloppy written assignment
(i.e., one that contains grammatical/typographical errors, incomplete
sentences, slang/colloquial expressions, poor organization/flow,
etc.). If anything, such sloppiness is indicative of lack of care
and concern for your work.
Assignments
A variety of assignments will be given to foster learning. Many of
these assignments will be given in class and will also be available
on the CUSB Neptune web site. You are responsible for completing and
submitting any and all assignments by the due date. Any changes to
the assignments will be announced in class. If, for some reason, you
are unable to attend class when a change in assignment is made, you
should contact me or ask a colleague for pertinent class material (see
Class Attendance and Participation above).
Grading
The course grade will be determined on the basis of group case analysis & presentation,
business plans, learning exercises, and class attendance and participation.
Please note the following points concerning grading in this course:
(1) My grading philosophy incorporates (and values) continuous improvement
in course assignments. Thus, my approach to grading is largely developmental,
reflecting an ethic of care, rather than (just) an ethic of judgment.
To the extent that a graded assignment conveys feedback that can be
used for performance improvement in later assignments, it is consistent
with my grading philosophy.
(2) Please note that grading is ultimately an art (subjective) rather
than a science (objective). I will strive to minimize ambiguity in
grading by communicating more specific and clearer grading criteria.
However, some ambiguity is (ex ante and ex post) irreducible, and may
even be a necessary component of learning!
(3) I strongly believe that each of us can and wants to do better;
thus, it’s not where you start, but where you end that matters
the most. Thus, for example, if you haven’t done well in the
first exam (8%), but double your effort and learn from your “mistakes,” your
performance on the second exam will reflect a higher weight (12%).
This applies only to assignments that are done in two or more parts
(e.g., exams and tracking entrepreneurial ventures), but not to one-time
assignments.
(4) Grades are non-negotiable, and grading is not based on a normal
curve! Your grade will reflect the extent of genuine learning that
has taken place on your part. And, genuine learning is not a competitive,
zero-sum game; rather, it reflects a striving to do better in whatever
we do.
(5) Thus, you should seek out opportunities for learning improvements
before rather than after the assignment is due. My mission is to help
you succeed in this course – assuming you want to do the same.
So, if you have any concerns or questions related to the course assignments,
please don’t hesitate to contact me (my contact information is
given above).
(6) If you detect a grading error, you should bring it to my attention
immediately. If I determine that it is a bona fide error on my part,
I will correct it in your favor within a week. However, if the “error” is
the result of differences in interpretation between us, and you are
not satisfied with my explanation or resolution, then you may seek
formal resolution as stipulated in applicable sections of the Clarkson
University Regulations.
The distribution of the course grade is as follows:
Exams (Mid-term = 8%; Final = 12%) ..……………….
20%
Case Analysis and Presentation .......…………………..
10%
Business Plan………....................................…………..
20%
Tracking an Entrepreneurial Venture
(Part I = 5%; Part II = 7.5%; Part III = 12.5 %) …... 15%
Learning Exercises ….………………………………… 15%
Peer Feedback …..……………………………………….
5%
Class Attendance and Participation
(attendance = 40%; participation = 60%; but see above) 15%
Total ......................................................…………………..
100%
Grades will be determined on the basis of the following scale
Letter Grade Percentage Points
A 90 - 100
B+ 86 - 89
B 80 - 85
C+ 76 - 79
C 70 - 75
D+ 66 - 69
D 60 - 65
F below 60
Core Values
A number of core values underpin any and all work related to this course.
These values include academic honesty and integrity, conscientiousness,
intellectual curiosity, and dignity/respect, among others. For specific
discussion of applicable policies on academic conduct/integrity, please
refer to the Clarkson University Regulations available online at http://www.clarkson.edu/studentafairs/reg/
Addenda
Guidelines for course assignments will be provided in class (and posted
on the CUSB Neptune web site or “S” drive) later. For
the purposes of this course, such guidelines should be taken for
what they are – as guides to “organic” action,
rather than as rules for “mechanistic” action. As the
famous American essayist, poet and philosopher, Ralph Waldo Emerson,
reminds us “foolish consistency is the hobgoblin of little
minds, adored by little statesmen and philosophers and divines.”
Tentative Course Outline
Date Topic/Subject Text/Reading Assignment Key Course Assignment
Week 1
08/23 Course introduction and procedure
Definition of Entrepreneurship Handout: The Sam Barshop story
Instructions for online retrieval of readings
In-Class exercise
Additional assignment tba
08/25 Understanding the Entrepreneurial Challenge Chapter 1,
Entrepreneurial Library, Reading 1 (pp. 8-28)
Additional assignment tba (to be announced)
*Formation of Teams & case assignment
10/06
Case Discussion: Ockham Technologies Analysis & Presentation – Team
2
Case write-up
Additional assignment tba
Week 8
10/11
Mid-term Exam
10/13 Understanding Strategic Positioning Chapter 6
Entrepreneurial Library reading (pp. 218-235)
Essay & Additional assignment tba
Week 9
10/18
Case Discussion: VM Ware Analysis & Presentation – Team 3
Case write-up
Additional assignment tba
10/20 Succession Planning and the Family Business Chapter 8
Additional assignment tba
*Part II of Tracking Entrepreneurial Venture Report due
Week 10
10/25 Succession Planning – continued AMR article on succession planning
Entrepreneurial library reading (pp. 327-336)
10/27 Crowne Inn Case Discussion
Case write-up
Additional assignment tba
Week 11
11/1
Case Discussion: Zaplet Case Analysis & Presentation – Team 4
Case write-up
Additional assignment tba
11/03 Corporate Entrepreneurship: Developing Internal Innovation Chapter 9
Entrepreneurial library reading (pp. 367-383)
The 3M Innovation story
Essay & Additional assignment tba
Week 12
11/08
Case Discussion: Orchid Partners Case Analysis & Presentation – Team
5
Case write-up
Additional assignment tba
11/10 Embracing Rapid Expansion: The Franchise Option Chapter 10
Entrepreneurial library reading (pp. 406-423)
Additional assignment tba
Week 13
11/15 The Challenge of Venture Capital for Growing Ventures Chapter 11
Entrepreneurial library reading (pp. 450-462)
Essay & Additional assignment tba
11/17
Case Discussion:
Google.com Case Analysis & Presentation – Team
6
Case write-up
Additional assignment tba * Part III of “Tracking Entrepreneurial
Venture” Report Due
Week 14
11/22 Video Case study (TBA) Essay/case write-up
11/24 No Class: Thanksgiving Recess
Week 15
11/29 Web-based Chapter: The challenges of global expansion
Additional assignment tba Entrepreneurship, technology transfer and economic
development (Lado & Vozikis, 1996)
Additional assignment tba *Business Plans Due
12/01 Feedback/Evaluation Wrap-up
-- Final Exam
Date/Time/Place to be announced
GOOD LUCK!!