|
One more ad on the website.
I know that in a few weeks I will meet someone who says, “I wish I had known you were doing that” so here is at least one more notice about my current “menu.”
First, next Wednesday evening at 5:30PM, January 27, I will be giving a free “open to the public” talk about the history of the airline industry. It will be at the AT&T center at Lavaca and MLK on the University of Texas campus in Austin. I expect it to be in room 204 but check when you arrive. If you want to get your name on the mailing list, RSVP to Holly.Marino@austin.utexas.edu. Or just show up.
Not free, but only $10 is the new updated and expanded downloadable PDF version of my out-of-print book Hoover’s Vision which I have retitled The Art of Enterprise. You can see a few pages for free or buy the downloadable book here: http://www.scribd.com/doc/25085990/The-Art-of-Enterprise-by-Gary-Hoover-January-2010. This book contains all my fundamental ideas, which I have spoken about all over the world. Those interested in innovation and leadership should find – at minimum – a few nuggets in the 300+ page book.
And not free, and not as cheap as $10, but hopefully a bargain at $610 for about 15 weeks will be my course “Foundations of Entrepreneurship” being offered by the University Extension (night school) at UT. The first class is Monday night, January 25, from 6 to 9PM on campus. This introductory course will be three hours every Monday night through early May.
The primary grade will be based on what I call a “conceptual business plan.” The plan can be for a for-profit or not-for-profit enterprise. We will survey all the key points of founding and developing a business plan, from where to find ideas to how to finance and market.
The class is open to the public and to students. It should be a lot of fun.
To register or find out more, check here: http://web.austin.utexas.edu/uex/coursedetails.cfm?OutID=2511. As of today it looks like it will be a pretty small, intimate class. All I can promise is that it will be intense and energetic. Those who come prepared to learn will get a lot of “content.” Below I have pasted parts of the syllabus describing the course.
If you have any questions about any of these items, do not hesitate to email me at gary@hooversworld.com. And you can of course always read my latest thinking and book recommendations at www.hooversworld.com!
Foundations of Entrepreneurship- BA320F
Spring 2010 Mondays 6:00-9:00 PM
CBA 4.324
Instructor Information
Instructor: Regina W. Hughes Featuring lectures and course leadership by
Office: CBA 2.222 Gary Hoover, Entrepreneur-in-Residence,
Office Hrs: Mon.3:30 to 5:30 PM or by appt Herb Kelleher Center for Entrepreneurship,
Office Phone: 471-4764 McCombs School of Business
E-mail: Regina.Hughes@mccombs.utexas.edu Office: CBA 6.440
Office Hrs: Mon. 3:30 to 5:30 PM or appt
Cell phone: 512-656-5325
E-mail: Gary.Hoover@mccombs.utexas.edu
The first class is on January 25 and the last class on May 3, with the final paper (business concept plan) due May 10.This class is offered by the University Extension and is open to members of the community for a fee of $610. The class is limited to no more than 50 students. Each lecture will be recorded.
I. Overview and Goals
What is entrepreneurship?
Entrepreneurship is the creation and building of new ventures. Those ventures may be highly original and innovative or they may be the McDonald’s franchise for Guatemala. They may be small businesses or large businesses, they may be for profit or not for profit, they might be in the education or museum industry as well as software and restaurants. New ventures might even be a government agency. They could be whole new enterprises, new products or divisions in existing enterprises, or a franchise. They could even be a specific project, like the creation of a movie, a festival, or sporting event.
A venture is by definition new or a startup, although leaders of all types and sizes of enterprises can benefit from thinking like an entrepreneur.
Who is an entrepreneur?
The entrepreneur is the key driving force behind the process. He or she could be any age, race, religion, or ethnicity, in any city or village in the world, with or without experience or education. His or her main assets are desire, energy, and tenacity.
The more the entrepreneur knows, the greater the chance of his or her success. What he or she needs to know depends on the venture at hand. But there is a core list of things one needs to think about in virtually all ventures. The purpose of this course is to introduce the students to those basic thoughts, skills, and ideas that are common to new ventures. The course is taught by leading the students through the process of finding and developing an idea and summarizing what they discover and conclude in a 10 to 20 page “business concept plan.”
This course will include an introduction to major business concepts, including strategy, finance, and industrial organization. No prior coursework will be required in order to understand the concepts presented in the class. Students can anticipate an intense amount of information and ideas.
While this course should be educational to anyone interested in entrepreneurship, it takes a broader view of entrepreneurial opportunities than some courses, which focus on high tech or venture capital backed ventures. Mr. Hoover is particularly experienced in consumer, retail, and business-to-consumer enterprises.
II. Classroom Expectations
Active attendance/participation/preparation is required, as many of our classroom activities are devoted to presentations and discussions. Each student is expected to attend every class, prepare every assignment, and participate in every class discussion. Specific information, analytical tools, and study questions will be furnished to the groups responsible for presenting each assignment. If you are unfamiliar with the discussion topic, please review the textbooks and supplemental course materials. Students should have basic skills in Word, Excel, and Google.
III. Course Materials
Materials required for the course:
Ø Peter Ducker’s book Innovation and Entrepreneurship (paperback ISBN 0060851139).
Ø They Made America by Harold Evans (hardcover illustrated edition ISBN 0316277665; do not get the paperback edition, which is abridged and not fully illustrated, thus losing much of its power).
Ø Materials from the first edition of Hoover’s Handbook for the Feb. 22 and Mar. 29 classes will be available at no expense on Blackboard.
Ø All students are strongly urged to read the front page (business news) of the Wall Street Journal every day. This can be accomplished online.
Optional textbook for background reading:
Ø Entrepreneurship: Successfully Launching New Ventures by Bruce R. Barringer and R. Duane Ireland (Third Edition, Prentice Hall; ISBN 0136083536) which contains excellent case studies and more detailed information on business plans, etc.
IV. Grade Computation
The February 15 presentation is 10% of each student’s grade. An additional 25% of the grade will be based on the April 5 exam. Students missing the exam must have completed the make-up exam by April 9. The next 15% will be based on consistently asking good questions after each lecture throughout the course.
The main student project, resulting in 50% of the grade, will be a business concept plan for an idea discovered, selected, and developed by the student. In grading, we will look for:
Ø Have they expressed their idea clearly?
Ø Are all the pieces there?
Ø Have they done their homework? Found out something about the industry and its economics? The more, the better.
Ø Does the plan hold together, do the pieces foot with each other, is it internally consistent?
Ø Does it answer obvious questions that one might raise, or at least acknowledge them?
In grading the paper, we will not be trying to judge whether the idea makes sense or not, might work or not, or could be financed or not.
Note that the students will be developing this document and drafting parts of it throughout the course. As soon as they pick an idea, they will start working on the plan. We may see drafts of parts of it and comment on them, so they can grow and learn, correcting mistakes along the way and moving closer and closer to the mark. In other words, we would be coaching them. All of these steps are made to keep the students engaged, interested, and feeling successful, no matter at what level they might be.
Students will learn the key ideas of the course by applying them to some project that interests them.
The “business concept plan” might be close to a real business plan or one they could show investors, depending on the business idea and quality of the plan. It might be the skeleton or draft of such a plan.
Should the students create an enterprise or assist in creating one in the future, this course should substantially increase their knowledge and self-confidence. In any event, with effort, they should learn a great deal and the material should have a reasonable level of “stickiness” in their heads.
Final letter grades will be assigned according to the following criteria:
A >93 A- 90-92.9 B+ 87-89.9 B 83-86.9 B- 80-82.9 C+ 77-79.9 C 73-76.9 C- 70-72.9, etc.
V. Tentative Course Schedule
Course Structure
This course will meet for three hours every Monday evening. Classes will generally consist of a lecture by Mr. Hoover on the day’s theme, followed by a discussion led by Professor Hughes. The course may also include panel discussions and guest lectures by entrepreneurs, at least one field trip to practice spotting opportunities, time for working on class projects (such as a business plan), and testing.
Each student is expected to have at least three questions for Mr. Hoover at the end of each lecture, and prepare to volunteer or be called on to ask at least one of those questions. The exact discussions and length of presentations will depend on the nature and number of students in the class. To the extent possible we will adapt the course to meet the needs of those taking the class.
Assignment: By the Feb. 1 class, students should have read the introduction and the last chapter (chapter 32 in the hard copy edition or 39 in the expanded PDF version) of the Hoover book, totaling about 36 pages.
Jan 25. Class introduction: how students will be graded, get to know each other, answer questions. Mr. Hoover tells his story, all about his experience and adventures in four startups and working with and studying other entrepreneurs and enterprises, just to get our entrepreneurial bloods flowing.
Assignment for the next class: write a 1 page (single spaced) essay on: Why am I taking this class? What do I hope to achieve out of it? Am I a potential entrepreneur? Why? Email these papers to Mr. Hoover by Noon, Friday Jan 29. Papers will be graded on depth and intensity of thought and clarity of communication.
The entrepreneur
Feb 1. What is an entrepreneur? What do we mean by entrepreneurship and entrepreneurial thinking? Our class will be joined by a panel consisting of entrepreneurs and entrepreneur teachers/coaches (Gary Hoover, Bijoy Goswami, Rob Adams, and Kevin Koym). These four will bring high tech, low tech, for profit, and non-profit entrepreneurship into the picture. What makes a person an entrepreneur? What are the personality attributes? Each panelist will speak for 10-15 minutes, and then we will open it up for a group discussion and questions and answers. Panelists will scan the papers prepared by the students or a summary prepared by Mr. Hoover as fodder for the discussion.
Assignment: By the March 1 class, the students should have read the following material about finding opportunities: Hoover Chapters 1-8 and chapter 28 (29 in the PDF) and Drucker Chapters 1-11 and 16-19. This material totals about 272 pages, primarily in the Drucker book, so you are urged to start early. Students are encouraged to read the other material in both of these books at their option and leisure.
The enterprise — strategy
Feb 8. Business Basics is the topic for the class time. Mr. Hoover gives his traditional lecture on the most important things in creating and building enterprises. (“Eight keys to building a successful and lasting enterprise.”)
Assignment: By February 15, each student should have read the stories of at least three of the individuals discussed in the Evans book They Made America. On February 15, be prepared to describe verbally for the class (3-5 minutes) what was learned from studying one or more of those individuals. Focus on what made the entrepreneur or business leader successful, what traits they had, what it was they saw that no one else saw, and what steps they took to turn their dreams into reality. Take into account what you have learned in previous class sessions. Be prepared to discuss and answer questions. Each student will be graded on his or her presentation and thoughtful consideration of the material.
The entrepreneur, Part II
Feb 15. Discussion of some business and entrepreneurial greats led by the students, each presenting, and moderated by Mr. Hoover. (Students are encouraged to attend Mr. Hoover’s business history lectures which are free to the public at the AT&T center on Wednesday evenings at 5:30 on 12/2, 1/27, 2/24, and 3/31. Each lecture will focus on a different industry.)
Strategy in more detail
Feb 22. Mr. Hoover discusses corporate strategy and industrial organization, adapted from the section “The Big Picture” from the prefatory material to the first edition of Hoover’s Handbook (out of print; this book led to Hoovers.com. This material will be made available on Blackboard.) Strategies and “business models” will be discussed.
March 1. Seeking out business ideas – Mr. Hoover focuses on the core ideas from his own book: how to come up with ideas, the grid system of intersecting concepts, how to think about new ideas, finding opportunities, pains and problems to solve. Input from Mr. Drucker and the students.
March 8. Field day – going out into the world and thinking like an entrepreneur. We will probably meet at Barton Creek Mall, with individual students or small teams assigned “research projects” which must be concluded that evening. Other candidates might include Whole Foods Market, HEB, Target, and Walmart. Students provide their own transportation. Note: Assignment due Mar 22.
Assignment: (over spring break) list out at least three possible business ideas. Explain each one in a paragraph or two. Turn in by Mar 22.
Mar 22. Class focus will be selecting and researching your idea, how to sort out a list of ideas, how to prioritize, how to research an industry and find answers, becoming an industry expert; led by Mr. Hoover. Students begin working on their business concept plans at their own pace through the following weeks. Ideally students will write part each week, prompted by the subject covered.
The Economics of the enterprise
Mar 29. Introduction to business plans, their major components, importance of words and numbers. Then “the economics,” starting with finance: Mr. Hoover reviews the basics of financial accounting, taken from the section “The Numbers Made Simple” from the first edition of Hoover’s Handbook, which will be made available on Blackboard. Also: How much money do we need? Where to get the money? Various methods of financing will be considered.
Mid-term Test
April 5. Test on material covered to date, with a very heavy emphasis on the prior week’s accounting and finance class.
People: Your Customers
April 12. Then Mr. Hoover lectures and leads a discussion of knowing your customer and how to reach them: marketing – making the sale, promoting the concept, various options.
People: You and Your Organization
April 19. Hoover lecture followed by discussion of the team: recruiting, selecting, hiring, firing, motivating, incentivizing; structuring the organization. Work to create your own role. We will discuss culture and work environment.
April 26. Austin fast-growth company Bazaar Voice’s founder and CEO Brett Hurt will speak to the class on corporate culture, about which he is writing a book. Followed by discussion and Q&A. This session will give “fodder” for students to chew on as they work on their business concept plans. This work component is now going full blast.
Putting It All Together
May 3. Open discussion and business plan final work sessions. Mr. Hoover present and available to work one on one with each student, answer questions. We will learn from each other.
May 10. Business concept plans due. Be prepared to make a 5-10 minute presentation on your plan.
VI. Academic Integrity
Academic integrity and honesty are critical to the conduct of this course. The responsibilities of both students and faculty with regard to scholastic dishonesty are described in detail in the Policy Statement on Scholastic Dishonesty for the University of Texas and the McCombs School of Business:
By teaching this course, I have agreed to observe all of the faculty responsibilities described in that document. By enrolling in this class, you have agreed to observe all of the student responsibilities described in that document. If the application of that Policy Statement to this class and its assignments is unclear in any way, it is your responsibility to obtain clarification.
Policy on Scholastic Dishonesty: Students who violate University rules on scholastic dishonesty are subject to disciplinary penalties, including the possibility of failure in the course and/or dismissal from the University. Since dishonesty harms the individual, all students, and the integrity of the University, policies on scholastic dishonesty will be strictly enforced. You should refer to the Student Judicial Services website at http://www.utexas.edu/depts/dos/ or the General Information Catalog to access the official University policies and procedures on scholastic dishonesty as well as further elaboration on what constitutes scholastic dishonesty.
VII. Additional Policies
Students with Disabilities – The University of Texas at Austin provides upon request appropriate academic accommodations for qualified students with disabilities. For more information, contact the Office of the Dean of Students at 471-6259, 471-4641 TTY or http://deanofstudents.utexas.edu/ssd/
Access to Blackboard –All students will have access to the Blackboard web site for this course.
Please note the following:
Web-based, password-protected class sites will be available for all accredited courses taught at The University. Syllabi, handouts, assignments and other resources are types of information that may be available within these sites. Site activities could include exchanging e-mail, engaging in class discussions and chats, and exchanging files. In addition, class e-mail rosters will be a component of the sites. Students who do not want their names included in these electronic class rosters must restrict their directory information in the Office of the Registrar, Main Building, and Room 1. For information on restricting directory information see:
VIII. Business Foundations Program (BFP) Certification
This course counts as one of the BFP courses. Please consult Professor Hughes with any questions regarding the BFP certificate offered through the McCombs School of Business or University Extension.
We hope you enjoy the course this semester.
|
