Professional Documents
Culture Documents
Questions. All questions should be asked and resolved in class, especially those
concerning class assignments. Those involving personal matters should be addressed in
private by phone or email or through a personal meeting.
Dress. This class has several corporate visitors throughout the term. Standard dress is
business casual although for presentations you may want to be more formal for your
presentations. You represent your team, the class and Mason when you interact with
outside personnel. Make sure that everything you write, say and do makes a positive,
business-like impression.
Team Work. Our project work is done in teams. Your participation in the teams work is
among the most critical factors of your class grade and your teams success. Conflicts
should be resolved quickly through team leadership and the professors help, if
necessary. If for some reason you cannot show up to join your team on those project
days, please make sure to inform your team members in advance. The review by your
peers will help determine your grade.
Computers in Class. Laptops and smartphones may not be used in the classroom.
Take your notes by hand (research shows this improves learning) and summarize into
electronic form later. Bring your laptop or a memory stick on days you present in class.
Academic Honesty: Students are expected to know and follow the GMU honor code (
http://www.gmu.edu/facstaff/handbook/aD.html). Scholastic dishonesty, including
cheating in exams or plagiarism, will be treated as a violation of universitys regulations.
As such, appropriate sanctions will be pursued vigorously. This ethical rule does not
prevent the discussion of business ideas with classmates outside the classroom.
Obtaining business ideas or getting notes on quizzes from previous years are not
considered honest behavior, as they hinder the normal discovery and learning process,
and overstate your preparation.
Students Needing Accommodations: If you are a student with a disability and you need
academic accommodations, please see me and contact the Disability Resource Center
(DRC) at 993-2474. All academic accommodations will be arranged through the DRC.
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Required Text:
Essentials of Entrepreneurship and Small Business Management, 7/E
By Norman M. Scarboroough
ISBN 13:978-0-13-266679-4
Publisher: Pearson
Note that this is an OLDER edition (7th Edition). I highly recommend that you purchase a
used copy online. It is much less expensive!
Wall Street Journal. Students are also required to purchase the Wall Street Journal. Sign up in
class. We will use discussion of current events from the WSJ to kick off some class sessions.
Optional Texts:
The best work on business plans I have found is Writing a Convincing Business Plan
(Paperback) by Dethomas, Arthur R. and Lin Grensing. Barron's Educational Series; 2nd
edition (January 1, 2001). ISBN: 0764113992.
Class Schedule: Thursdays, 4:20 pm 7:10 pm. Location: Fairfax Campus, East Hall 122.
Office hours: Tuesdays before class, or by appointment, Enterprise 45. The best way to reach the
professor is email; please use your GMU account to avoid spam filters.
Grading: The centerpiece of this course is a written Feasibility Study, which is also presented
in-person to the class. Your work on the Feasibility Study as a team will count for 50% of your
grade; your individual assignments count for 50%. The Feasibility Study is written by teams of
up to 4 persons (please get permission if you need a larger team, or would like to work alone).
For individual work, students will complete two exams (a mid-term and a short final) and
actively participate in class. Students should note that class participation is not a trivial part of
the grade. See the Grading Rubric for more details.
Your grading will be weighted 50% team and 50% individual as follows:
Team Feasibility Study Project Presentation
Final Presentation
Final Feasibility Study Written Report
Peer Evaluation
Class Participation
Mid Term Exam
Final Exam (take home)
Total Grade
Grade Structure
95 100 A
90 - 94.99 A85 - 89.99 B+
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50%
15%
20%
15%
30%
10%
10%
100%
75 - 84.99 B
65 - 69.99 C
Below 65 F
DATE
TOPIC
Jan 21
Introductions
Defining Entrepreneurship
Course Description and expectations
Details on Feasibility Study Project
READING
In class exercises.
Jan 28
Opportunity Recognition
The Entrepreneurial Mind
Team Formation
Chapter 1, 2
Blackboard:
Silk Road Case
Chapter 3
Feb
18
ASSIGNMENTS
DUE
Chapter 4
Blackboard:
Star Progress
Case
Chapter 8
Marketing Research
Competitive Positioning
Feb
25
Chapter 5,6
Review
Chapters 3,4
Mar 3
Mid Term Presentations
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Mar
10
Mar
17
Mar
24
Mar
31
Financial Analysis
Financial Projections
Managing Cash Flow
Review
Chapters 1-6,
11, 12
Chapter 10, 11,
12
Sources of Funding
Debt & Equity
Lets Make a Deal
Chapter 13
Chapter 9
Apr 7
Team time to work on plans.
Blackboard:
WorthPoint Case
Apr 14
Apr 21
Apr 28
Chapter 16
Exit Strategies
Selling the Business
Going Public The IPO
Final Class
GROUP PROJECT
PRESENTATIONS
May 5
Final Examination
(Take Home Exam)
Due by 4:20 pm
HONOR CODE: Student members of the George Mason University community pledge not to cheat,
plagiarize, steal, or lie in matters related to academic work. It is your responsibility to know and to
follow George Mason Universitys policy on intellectual integrity. Please see: http://oai.gmu.edu/themason-honor-code/
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What exactly is the product or service? How will it be used? Who is the target customer?
What is the appropriate business model, given the type of customers anticipated?
Is there an alternative use for the technology that the owner or inventors have not yet thought
about? Could that be a more profitable approach?
Is the addressable market sufficiently large to support financial returns to outside investors
(whether angels, VCs or corporate partners)? What types of returns might be anticipated?
What are the potential pitfalls in the technology, IP, product or design?
What additional research and study will need to be completed as part of the final, complete
business planning process?
In contrast, a full business plan would go on to fully describe the management team, funding required,
funding approach, competition, competitive landscape, and exit strategy. A complete business plan also
includes financial projections and complete pro forma financial statements; here we only need some
preliminary projections of markets, revenues, and profits. The business plan is the subject for a later,
more advanced course in entrepreneurship.
Finally, it is important to remember that our concerns are about the business; we assume the gadget works
as promised by the inventors or engineers. (And when has a mad inventor ever been wrong, anyway?)
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