Introduction to Entrepreneurship

COURSE SYLLABUS
Sejong University
May & June 2013

Class Meets: Week of May 20th & 27th: Mon. & Wedn. 19:00-22:30, Sat. 9:00 – 12:30
Week of June 3 & 10: TBD

Instructors: Peter N. Scott, Professor of Entrepreneurship & Emerging Enterprises

E-mail: pnscott@[Link]
Office Hours: By appointment
John Torrens, Professor of Entrepreneurship & Emerging Enterprises
E-mail: jtorrens@[Link]
Office Hours: By appointment

I. Course Overview:
Welcome to the Growing World of Entrepreneurship! Introduction to Entrepreneurship
will introduce you to the exciting development of entrepreneurship around the globe. The
creation of new ventures continues to grow, providing dramatically different career paths
to the entrepreneur. In this course you will discover why this is happening, who the
entrepreneur is, and how new venture creation can be viewed as a process. You will
examine entrepreneurship in different settings, including new business ventures, mature
corporations, and social agencies. You will be exposed to a wide range of disciplines,
including marketing, finance, operations, and accounting. You will learn both the theory
and the practice of entrepreneurship.

II. Course Objectives:

The course is built around a number of core objectives. By the end of the semester, you
should be able to:
 Recognize the entrepreneurial potential within yourself and others in your environment;
 Appreciate the role of entrepreneurship within society, at the level of the organization,
and in your own personal life;
 Understand the process nature of entrepreneurship, and ways to manage the process;
 Identify the many ways in which entrepreneurship manifests itself, including start-up
contexts, corporate contexts, social contexts, public sector contexts, and others;
 Develop an appreciation for opportunity, how to recognize it, and how to evaluate it;
 Appraise the nature of creative new business concepts that can be turned into
sustainable business ventures;
 Appreciate the ethical issues that are intimately intertwined with entrepreneurial
activities, and develop a personal framework for managing ethical dilemmas.
Intro. to Entrepreneurship – Spring 2013, Page 2 of 4

III. Texts:
Entrepreneurship: Successfully Launching New Ventures, 4th Edition, Bruce R. Barringer
and R. Duane Ireland, Pearson Prentice Hall (2011). Optional.

Business Model Generation by Alexander Osterwalder & Yves Pigneur

Required: Excerpt in PDF available at: Business Model Generation
Optional: Full book available at [Link] for $21.35.

The New Business Road Test, 3rd Edition (2010), John W. Mullins, Prentice
Hall. ISBN: 978-0-273-73279-2. Optional.

Selected cases to be sent via email.

IV. Student Assessment/Evaluation:

Individual Case Strategy (oral) 1 20%
Interview of an Entrepreneur 2 20%
Original Concept and Business Model 3 20%
Quizzes 4 20%
Class Contribution/Participation 20%

1
Students will analyzing a case. Two person teams will be responsible for a fifteen-
minute oral presentation of their solution for one of the assigned cases. Cases will be
assigned to the teams during the first day of class. A framework for the analysis will
be provided.
2
Students will interview an entrepreneur based on an outlined structure provided in
class. Selected entrepreneurs must have ventures at least two years old with a
minimum of five employees and preferably at least ten employees. This report is due
the last day of class.
3
Students will develop an original business idea, translating the idea into a well-
conceptualized business concept, and then building a business model around that
business concept. This business model must demonstrate the basic market and
economic feasibility of the proposed business. Please note that the students are not
developing a full business plan, and the specific issues to be addressed in the
business model differ from those in a full business plan. A framework for doing the
analysis and writing up the business model will be presented in class. This report is
due the last day of class.
4
There will be two in-class quizzes spread out over the semester. The quizzes will be
based on assigned cases, in class activities, or lecture material. The quizzes may be
assigned at any time during class. It is therefore in the students’ best interest to
always come to class and always come prepared.

DREAM > BELIEVE > PURSUE

Intro. to Entrepreneurship – Spring 2013, Page 3 of 4

For the most part, letter grades will correspond with the following percentages:
A 93-100
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- 70-72.3
D 65-69.9
F Below 65

While not anticipated, we reserve the right to scale your grade up or down according to
compelling circumstance or because of an adjustment of the curve.

V. Attendance Policy:

Attendance is required. It is not an option. You are allowed one unexcused absence. If
you miss more than one time, you will forfeit one letter grade (10%) in the course (the
equivalent of your class participation grade).

VI. Participation Policy:

You are expected to come to class prepared, and play an active role in the discussions
that take place during class periods. This means reading all assignments and preparing
all cases in advance. The issue is the quality of your contribution more than the quantity.
Participation/contribution includes asking questions, answering questions, agreeing or
disagreeing with points made by the instructor or your peers, insights provided regarding
the assigned cases, and examples that you bring into class of issues we are discussing.

VII. Teaching/Learning Style:

The course will involve a lecture format with extensive interaction between students and
the instructor. The teaching style will mix theory and academic concepts with practical
applications. Students will be challenged to grasp a concept or idea, relate it to other
concepts, and then apply it in real-world entrepreneurial contexts. In general, case
discussions and student presentations will occur on the second meeting of each week.

DREAM > BELIEVE > PURSUE

Intro. to Entrepreneurship – Spring 2013, Page 4 of 4

VIII. Schedule at a glance

Suggested
Day/Date Subject Case
Readings
Peter Scott
Introducion, Nature of
M / May 20 B&I chap. 1
Entrepreneurship
Role of Entrepreneurship &
W / May 22
Who is the Entrepreneur
S / May 25 Nature of Opportunity B&I chap. 2 & 5 Brondell
M / May 27 Business Model Canvas BMG excerpt Carpe Diem
BMC-Customer, Value
W / May 29
Proposition, Relationships
BMC-Channels, Partners,
S / June 1 Liberty
Resources, Activities, Costs
John Torrens
Micro and Macro Market
T / June 4 NBRT chap. 1-3
Domains
Micro and Macro Industry
Th / June 6 NBRT chap. 4-5
Domains
Economics of Start-ups,
S / June 8 financing a new venture, B&I chap. 8 & 10
valuation and deal structure
M / June 10 Market and Industry research NBRT chap. 11-16
Operations, Legal issues,
T / June 11 Ethical Issues, growth and B&I chap. 13 & 14
harvesting
Business Planning and B&I chap. 4
W / June 12
Execution NBRT chap. 6-9

B&I = Barringer & Ireland fourth edition text

BMG = Business Model Generation - by Alexander Osterwalder & Yves Pigneur
NBRT = The New Business Road Test, 3rd Edition (2010), John W. Mullins

DREAM > BELIEVE > PURSUE