INDIAN INSTITUTE OF MANAGEMENT

KOZHIKODE
EPGP-12/EPGCSM-13
Course Code SM-07
Course Title Entrepreneurship and NewVentures
Instructor Prof.AnubhaShekhar Sinha
Contact E-mail id and Phone No. anubhashekhar@iimk.ac.in, + 91 9497357054
Course credit 2
Session duration 20 hours/16 sessions
Term/Quarter/Year EPGP-12/EPGCSM-13 Q-VI/ Q-III , 2021-22
Core/Elective/Workshop
Area* Strategy

1. CourseDescription

Entrepreneurship is the fundamental cause of economic development and growth. Arguably,

“entrepreneurship” is the scarcest resource. In “saving yourself, you save the world”, said Joseph
Campbell. There is thus reason enough to do well for one self, ethically and lawfully, and there by
contribute to the general welfare.

2. Learning Outcomes

We hope students taking this class start their own ventures and succeed at them, in fields of their
choice and expertise, and at the right time in their personal lives. We will examine personal and
industry context; business models and financial issues; technological and operational drivers; sales,
marketing, branding, and positioning requirements of new ventures, and more.

This is a “hands on” course, part traditional class and part workshop. Students will work in teams,
and will undertake research in detail on an opportunity of their choice. The primary learning is
from the experiences of other entrepreneurs–case studies, books, videos, and articles. We also
expect students to discuss and learn from each other and from the faculty. They will have
opportunity to consolidate their learning in business plans that will be presented and shared with
peers and with experts, for feedback.

3. Pedagogy

This course would use a variety of pedagogical tools such as lectures, case discussions, real-life
examples, simulation, videos, etc. to support the learning activities. The instructor expects the
students to participate actively in the class. Students are expected to read the text books or other
assigned readings outside of class and participates in the critical evaluation of the material through
class discussion.

4. Required TextBook- None

Pool of Readings:

1. Sarasvathy, S. D. (2001a). Causation and effectuation: Toward a theoretical shift from

economic inevitability to entrepreneurial contingency. Academy of Management Review,
26(2), 243-263.
2. Read, S., &Sarasvathy,S. D. (2005). Knowing what to do and doing whatyou know:
Effectuation as a form of entrepreneurial expertise. Journal of Private Equity,9(1), 45-62.
3. Bhave, Mahesh P. (1994) A process model of entrepreneurial venture creation, Journal of
Business Venturing, pages 223–242.
4. Moore,Geoffrey(2006),CrossingtheChasm:MarketingandSellingHigh-TechProductstoMain
stream Customers, Collins.
5. Ted Baker and Reed Nelson (2005), Creating Something from Nothing: Resource Construction
through Entrepreneurial Bricolage. Administrative Science Quarterly, September 2005 50: 329-
366.
6. Osterwalder, A.& Pigneur, Y. (2013). Business Model Generation: A Handbook for Visionaries,
Game Changers, and Challengers, John Wiley & Sons.
7. Thiel, PeterA. (2014), Zero to one: notes on startups, or how to build the future. Crown.
8. Gompers, P. A. (July 12, 2001). A Note on the Venture Capital Industry: HBS # 9-295-065,
Harvard Business School Publishing, Boston, MA.
9. Schumpeter–TheTheoryofEconomicDevelopment;Capitalism,Socialism,Democracy,
a. Excerpts, in class
10. Social enterprise: Fortune at the bottom of the pyramid
11. Schultz, H & Yang D. R. (1997) Pour Your Heart Into It: How Starbucks Built a Company One
Cup at a Time. Hyperion Books.

Pool of Cases:

Sl. Case Title Ref. No.

No.
1. Best Buy (Inc.) Ltd – An Innovator’s Journey 9-604-043
2. R&R 386019-PDF-
ENG
3. Life spring Hospitals: Delivering Affordable, High Quality W12507
Maternal Health Care in India

4. Beautiful Legs by Post BAB071

5. Founder-CEO Succession at Wiley Technology (9-805- HBS#9-805-
150) 150
6. Stamypor 905M72

Other Resources and Readings

YouTube, TED Videos, Books and Articles

Ben Horowitz Of Andreessen Horowitz On What He Looks For In A Pitch

https://www.youtube.com/watch?v=QHXcMhs5orE

Marc Andreessen on Big Breakthrough Ideas and Courageous Entrepreneurs

https://www.youtube.com/watch?v=JYYsXzt1VDc

Peter Thiel – successful businesses are based on secrets

https://www.youtube.com/watch?v=yODORwGmHqo

Peter Thiel – Competition is for losers – https://www.youtube.com/watch?v=DLWyP83iU5M

 Baidu CEO Robin Li interviews Bill Gates and Elon Musk at the Boao Forum, March 29 2015
https://www.youtube.com/watch?v=NG0ZjUfOBUs

Elon Musk on Edison - https://www.youtube.com/watch?v=MJHTY0gWOGw

Academic research summarized for the class, insightful context but occasionally dense reading

• Ted Baker and Reed Nelson (2005), Creating Something from Nothing: Resource Construction
through Entrepreneurial Bricolage Administrative Science Quarterly, September 2005 50: 329-366.
• Sarasvathy, S. D. (2001a). Causation and effectuation: Toward a theoretical shift from economic
inevitability to entrepreneurial contingency. Academy of Management Review, 26(2), 243-263.
• Read, S., &Sarasvathy, S. D. (2005). Knowing what to do and doing what you know: Effectuation as
a form of entrepreneurial expertise. Journal of Private Equity, 9(1), 45-62.
• Shane, S. (2000). Prior Knowledge and the Discovery of Entrepreneurial Opportunities.
Organization Science, 11(4), 448-469.
• Bhave, Mahesh P. (1994) A process model of entrepreneurial venture creation, Journal of Business
Venturing, pages 223–242
• Moore, Geoffrey (2006), Crossing the Chasm: Marketing and Selling High-Tech Products
toMainstream Customers, Collins.
• Thiel, Peter A. (2014), Zero to one: notes on startups, or how to build the future. Crown.
• Christensen, Clayton (2003), The Innovator's Dilemma, Collins.
• Schumpeter – The Theory of Economic Development; Capitalism, Socialism, Democracy, excerpts, in
class

First person accounts, gripping and nuanced, note the original use of language

• Walton – Walmart
• Schultz – Starbucks
• Gopinath – Deccan Air
• Chhabria – Finolex
• Screwvala – UTV
• Biyani – Future Group

Read also the biography of Dr. Varghese Kurien, Amul fame, and Ravi Pillai, RP Group.
See also, AIB - http://mintonsunday.livemint.com/news/the-dissent-of-all-india-
bakchod/2.4.2378598263.html
Technology and Software (if any)
None required given the nature of case studies and readings to be analyzed and discussed in the
classes.

Other Resources (Journals, Internet Websites) (if any)

1. Paul Kedrosky– Scratch your entrepreneurial itch http://www.huffingtonpost.com/paul-
kedrosky/scratch-your-
entrepreneur_b_2689249.html?view=print&comm_ref=false&ir=India&adsSiteOverride
2. The Five Stages of Small Business Growth by Neil C. Churchill and Virginia L. Lewis,
HBR, May1983 https://hbr.org/2015/05/teslas-not-as-disruptive-as-you-might-think
3. What makes for success? Bill Gross, Elon Musk, Peter Thiel, Marc Andreessen, …e.g.,
http://www.ted.com/talks/bill_gross_the_single_biggest_reason_why_startups_succeed
4. On off-grid electric, Huffington Posthttp://www.huffingtonpost.com/skoll-foundation/how-
to-light-the-off-grid_b_7564126.html?ir=India&adsSiteOverride=in
5. Why Tesla Won’t Be Able to Scale https://hbr.org/2015/04/why-tesla-wont-be-able-to-
scale&cm_sp=Article-_-Links-_-Top%20of%20Page%20Recirculation
6. The Economist explains: What disruptive innovation means
http://www.economist.com/blogs/economist-explains/2015/01/economist-explains-15
7. Disruptive Genius: Innovation guru Clayton Christensen on spreading his gospel, the
Gospel, and how to win with the electric car
http://harvardmagazine.com/2014/07/disruptive-genius
8. Apple, Tesla Misunderstood by Clay Christensens, “Disruption”, Says UBS,
http://blogs.barrons.com/techtraderdaily/2015/05/08/apple-tesla-underestimated-by-clay-
christensens-disruption-says-ubs/
9. Selling to small businesses-https://hbr.org/2015/01/start-ups-should-sell-to-small-businesses-
not-big-enterprises
10. https://hbr.org/1983/05/the-five-stages-of-small-business-growth&cm_sp=Article-_-
Links-_-End%20of%20Page%20Recirculation
11. Gizmagrides the electric LightningLS-218: The world's fastest production motorcycle
htp://www.gizmag.com/lightning-ls218-review-ls-218/36470/
12. Interview: Richard Hatfield, founder and CEO of Lightning Motorcycles
http://www.gizmag.com/lightning-ls218richard-hatfield-interview/36506/
13. Khan Academy on entrepreneurship interviewshttps://www.khanacademy.org/economics-
finance-domain/entrepreneurship2/interviews-entrepreneurs
14. On Howard Head-http://www.tennisserver.com/set/set_03_06.html
15. Khan Academy on entrepreneurship,https://www.khanacademy.org/economics-finance-
domain/core-finance/stock-and-bonds/venture-capital-and-capital-markets/v/more-on-ipos
16. Center for Entrepreneurial Studies,
https://www.gsb.stanford.edu/ces/resources/venture_capital.html
17. BookExcerptMcKinseyQuarterly,Developingentrepreneurshipamongtheworld‟spoorest
http://www.mckinsey.com/insights/social_sector/developing_entrepreneurship_among_the_
worlds_poorest
18. Ben Horowitz of Andreessen Horowitz on What He looks for in a Pitch
https://www.youtube.com/watch?v=QHXcMhs5orE
19. Marc Andreessen on Big Break through Ideas and Courageous Entrepreneurs
https://www.youtube.com/watch?v=JYYsXzt1VDc
20. Peter Thiel – successful businesses are based on secrets
https://www.youtube.com/watch?v=yODORwGmHqo
21. Peter Thiel – Competition is for losers–
https://www.youtube.com/watch?v=DLWyP83iU5M
22. Baidu CEO Robin Li interviews Bill Gates and Elon Musk at the BoaoForum, March 29
2015 https://www.youtube.com/watch?v=NG0ZjUfOBUs
23. Elon Musk on Edison -https://www.youtube.com/watch?v=MJHTY0gWOGw
5. Evaluation Components

Component Weightage
Participation 15%
Final Project submission 35%
End term exam 50%
TOTAL 100%

6. Session Details (please add rows asrequired)

Session Topics Readings Cases Remarks

No.
1 Entrepreneurial Thinking - SarasSarasvathy :Effectual Assignment:
Traits and Pitfalls of Entrepreneurship; Effectual Identify
Entrepreneurs Rationality ventures to
pursue; form
teams. Team
research
projects
2 Entrepreneurial Thinking Frese, M., &Gielnik, M. M. Timing-
(Continued) and Opportunities (2014). The psychology of Entrepreneurshi
and Generating Ideas entrepreneurship. Annu. p in personal
Rev. Organ. Psychol. life: Beyond the
Organ. Behav., 1(1), 413- objective
438. opportunity.
“Fit”-the
venture's
position in its
industry
structure;
detecting and
acting on
"inflection
points"

3 & 4 Nascent entrepreneurship – 1. M. P. Bhave, A process 1. R&R Entrepreneurshi

Opportunity Recognition, or model of entrepreneurship 386019- p Idea
the invisible stages in venture venture creation. Journal of PDF-ENG Generation by
creation. The Entrepreneurial Business Venturing 9, 223 each participant
Process–stages in venture (1994) and submission
creation and their significance

5&6 Writing a Business Plan 1.How to Write a Winning Beautiful Discussion on

Business Plan. HBS.1985. Legs by Entrepreneurshi
Rich and Gumpert Post p Ideas of
(BAB071) participants
7 & 8 Team building–hiring to one's 1. Ted Baker & Reed E. Founder- Formation of 10
weakness; my experiences Nelson.2005. Creating CEO teams with
with poor choices, and the Something from Nothing: Succession chosen Ideas
analysis of it Resource Construction at Wiley and Idea Leads
through Entrepreneurial Technolog and Submission
Bricolage. Administrative y (9-805- of Business
Science Quarterly 150) Plans Called
For
9 & 10 Funding issues – Creativity, 1.Note on the Venture 1.Spreadin Assignment of
not VC necessarily, but funds Capital Industry,” Harvard g VCs for each
 against accounts receivables, Business School (HBS # 9- Happiness: Group
collateral. 295-065, July 12, 2001). Warm
Proformacashflowstatement 2. “How Venture Capital Fuzz Cards
with graphs A template Works.,” by B. Zider, (909M39).
developed with a good Harvard Business Review
CPA/CA made available to (Nov-Dec 1998
prospective entrepreneurs in 3. Thiel, Zero to One
order to do "whatif" analysis
that feeds into the Power Point
presentation and business plan
11 &12 Innovation as "combining 1. John E. Elliott, Marx and Best Buy Student
things differently." "Creative Schumpeter on Capitalism's (Inc.) Ltd – Presentations -
destruction "and" creative Creative Destruction: A An 1
construction "as the nature of Comparative Restatement. Innovator’s
the entrepreneurship process The Quarterly Journal of Journey –
in an economy. Economics , Aug., 1980, (9-604-
Entrepreneurship as art and Vol. 95, No. 1 (Aug., 043)
execution. 1980), pp. 45-68
2. ConstantinosMarkides.
2006. Disruptive
Innovation: In Need of
Better Theory. Journal of
Production and Innovation
Management;23:19–25
3. Geoffrey Moore,
Crossing the chasm. HBS
13 & 14 An Introduction toSocial Social Enterprise: Fortune Case (C7): Student
Entrepreneurship. at the bottom of the Lifespring Presentations -
pyramid by CK Prahlad Hospitals: 2
Delivering
Affordable,
High
Quality
Maternal
Health
Care in
India
(W12507)
15 & 16 Corporate Entrepreneurship - Robert A. Burgelman. Stamypor – Student
How "stage-gate" process of 1983. A Process Model of (905M72) Business Plan
new product development in a Internal Corporate presentations
corporate setting differs from Venturing in the Diversified
the entrepreneurial process. Major Firm. Administrative
Also, the role of "novelty" at Science Quarterly, Vol. 28,
various stages in product No. 2 (Jun., 1983), pp. 223-
development to appreciate the 244
nature of innovation involved,
and therefore the likely
difficulty of market success.

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