ENTREPRENEURIAL MINDSET RACHIDA JUSTO OVERVIEW This course focuses on the key elements of the entrepreneurial mindset. We will examine entrepreneurship from a personal and collaborative team perspective, as a system of values, motivations and goals that all managers can adopt, whether as the founder of a startup or a leader within an established organization. We will explore the identification of challenging opportunities in the world, and how to find alignment between personal goals and aspirations and the exploitation of opportunities. The theory you will receive from lectures and class readings will serve as a backbone to a range of hands-on experiences through case discussions, workshops, coaching sessions and team tasks. The course will culminate in the presentation of entrepreneurial opportunities that excite you and your team. COURSE OBJECTIVES Upon the completion of this course, participants should: Understand the key elements of the entrepreneurial mindset, and how to align personal goals with that mindset; Know how to recognize and evaluate entrepreneurial opportunities, understanding both entrepreneurs' visions and customers' needs; Recognize the major issues faced by entrepreneurs and teams when selecting opportunities; Acquire the fundamental perspectives for making decisions under resource and information constraints. PREPARATION This course is envisioned as a highly interactive class, where students learn from each other s experiences through class discussion. In that sense, while I will do my best to provide you with interesting materials and facilitate discussion to highlight learning points, much of your learning depends on your preparation, participation, and contribution. Business Cases: For case discussion, it is recommended that students: (1) review the questions associated with each case in the syllabus below, (2) carefully read the case, and (3) take brief notes designed to capture the key themes and issues of the case. Pre-class discussion of the case with classmates and team members is also encouraged. Reading Materials: It is recommended that students identify key discussion points associated with each reading. These discussion points can take a variety of forms, such as insights revealed and controversial assertions made in the reading, personal thoughts and experiences that evolve from the reading, and so forth. 1
Team Management: You are requested to work in your assigned team by your program administration. Every member is responsible to manage his or her own team, and this will be a valuable experience to take into your entrepreneurial career. SESSION 1 INTRODUCTION What is your definition of entrepreneurship? What are your expectations and learning goals for this course? What are some of the key opportunities and challenges for entrepreneurs? SESSION 2 THE ENTREPRENEURIAL MANAGER What factors created an opportunity for Bob Reiss and the TV Guide Game? What risks and obstacles had to be overcome in order to pursue the opportunity successfully? How did Bob Reiss accomplish this? Would this approach have worked for Parker Bros., or Milton Bradley? SESSIONS 3 & 4 OPPORTUNITY WORKSHOP Where do business ideas come from? What is the difference between an idea and an opportunity? What is a value proposition and how can you create value? SESSION 5 NEWVENTURE CONTEXTS Who is the genesis of the e-epoxy project? If you were a member of the e-epoxy leadership team, would you support Ian? What are the differences in the process of developing an opportunity within a corporate environment as opposed to independently? 2
SESSION 6 THE FOUNDER'S DILEMMA What types of skills, knowledge, and abilities (SKA) are needed for a founding team? How to split equity among the founding team members? What are potential issues in a founding team? How to solve these potential issues? SESSION 7 MOTIVATIONS, CONSTRAINTS, AND DECISIONS If you were Tom Szaky, would you like to quit Princeton and pursue Terracycle on a full-time basis? What is the key reason behind your decision? Among the potential capital providers (e.g., parents, friends, angel investors, and venture capitalists), from whom should Tom Szaky raise money? Why? If you were an investor, do you like the business idea of Terracycle? What are your key evaluation criteria? SESSIONS 8 & 9 STARTUP SIMULATION Detailed guidance will be provided before class. SESSION 10 OPPORTUNITY PITCH Detailed guidance will be provided before class. EVALUATION METHOD No late assignments will be accepted! Grades are not negotiable! This course is competitive, follows IE s guidelines, and is based on individual and team efforts. The nature of this course does not lend itself to objective questions seeking right and wrong answers per se. However, there are different levels of quality in fulfilling the course requirements. Just as an investor ranks the attractiveness of different proposals, I will rank your work against those of your peers and assign an appropriate grade. The components of the course are weighted as follows. 3
Criteria Score % In-class contribution Case preparation notes The chase Opportunity report Opportunitypitch In-class contribution Our interactive classes provide an opportunity to argue your position and to learn from others by listening to their comments and criticisms. I look for contribution rather than participation, and your contribution grade will highly depend on the quality rather than the quantity of your points raised. Point value description: 3 (outstanding): The comment adds substantial value to the discussion; Demonstrates willingness to take risks in attempting to answer difficult or unpopular questions; Breaks new grounds and raises the flow of discussion to a higher level, often by synthesizing material and applying multiple lenses or techniques. 2 (good): There is evidence of analysis rather than just the expression of opinion and/or case facts; Comments are linked to those of others, facilitating the flow of the discussion; Incorporates relevant insights from other courses or current affairs. 1 (normal): The comment advances the flow of the discussion (including responses to questions from the instructor); Demonstrates clear grasp of case material; Information presented is relevant to the discussion. 0 (poor): Do not attend class; Attend class without participation; Case preparation notes You are requested to submit a case preparation note BEFORE sessions 2, 5, 6, and 7. In each preparation note, please try to answer the Class preparation questions associated with the case (see above); Your preparation notes should be no longer than one page (A-4, single space, 12 font); Please upload your preparation notes to Turnitin Assignments (Campus Online), and name your files in this format: Your Name Session X Preparation Note ; Each note will weigh 5% of your total grade, which will be graded based on the depth of your answers to the preparation questions associated with the case. The chase The chase is a course-long exercise on finding interesting entrepreneurial ventures around the world - anything that is interesting, fun, and illuminates issues of change and creativity. I will open a discussion forum on Campus online to guide the conversation. You can contribute to the Chase in two ways: Each student is requested to identify 1-2 new ventures that have been established in the last five years around the world. What was the opportunity? What was the problem and need that the entrepreneur(s) aimed to solve? Do you think the venture will succeed in the long run? While introducing a venture, please provide key information about the venture (e.g., company website, press article links, and so forth). Each student is also requested to make 2-4 comments on ventures identified by your classmates. Feel free to evaluate the venture through different perspectives (e.g., people, opportunity, context, deal). Please demonstrate analyses to support your comments, just as you do for case studies. Forum contribution criteria: Demonstrate critical and original thinking about the course topics; Identify new and relevant questions or sources of insight; Be constructive, positive, and respectful; Build on other's ideas and add value to the discussion. Each post should be between 100-200 words; Opportunity report 4
Evaluation criteria will be provided during the course. Opportunity pitch Evaluation criteria will be provded during the course. 5