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MSB Pier A.

Abetti
ENTREPRENEURSHIP Summer 2006

MEDITERRANEAN SCHOOL OF BUSINESS

SYLLABUS
Summer 2006 – July 6 - 9, 2006

Course Title
Entrepreneurship
Instructor:
Pier A. Abetti, Ph.D. - Professor, Management of Technology and
Entrepreneurship, Rensselaer Polytechnic Institute, Troy, NY 12180-
3590, USA
Phone: Tunis, 913.000; (Hotel Golden Tulip) USA, 1-518-276-6834;
Fax, 1-518-276-8661
Email: abettp@rpi.edu

Texts:
(1) R.A. Baron, S.A. Shane; Entrepreneurship, Thomson, 2004,
ISBN 0-324-27356-8
(2) Selected cases and articles

Objectives:
(1) Provide understanding of entrepreneurship, that is, initiating
an innovative new business venture and developing it into a
self-sustaining and profitable enterprise
(2) Provide understanding of the process whereby a person
decides to become an entrepreneur, screens opportunities,
selects an appropriate product/market target, obtains the
necessary resources, and launches a new enterprise
(3) Provide the practical knowledge for the preparation of drafts
of business plans for the development of new products,
processes and services and for the financing of new
enterprises.

Course Structure:
(1) One-third of the time, approximately, will be lectures,
including a guest speaker
(2) One-third will be case discussions and class exercises
(3) One-third will be the preparation and review of business plans
by participants in teams.
(4) Formal presentations of business plan summaries to a jury of
business persons will conclude the course

Schedule:

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

Classes will meet during 4 days, July 6 to 10. Classes are held from
9 AM to 12:30 with a short break and from 2:00 to 5:30 with a short
break. On the last day, class will end around 3:00. Accordingly, this
syllabus is divided into 8 sessions, including the final presentations of
business plan summaries during the last day.

I would like to suggest the following procedures for a smooth running course.

1. Reading Assignments:
1.1 Since this is a new course, the syllabus is tentative and may be
changed depending on the progress, and interest and suggestions of
the class.
1.2 Readings should be completed before assigned sessions, in order to
understand the subjects to be presented and discussed.
1.3 The textbook is for reference only.

2. Cases:
2.1 Case preparations must be completed before class.
2.2 The instructor will briefly summarize the facts of the case and open
the discussion.
2.3 All participants are expected to contribute actively to the discussion.

3. Assignments:
3.1 There are two group assignments for the business plan. No reports
are required. Groups will hand in copies of their charts and 2-3 page
executive summary at the last session.

4. Team Work:
4.1 Participants are expected to work in teams. Synergy is expected,
that is, two participants in a team should produce more than the sum
of two individual contributions.
4.2 Teams should be as diversified as possible, in terms of academic
interests, experience and backgrounds.
4.3 Participants should take turns in making presentations so that all can
obtain credit for class participation.

5. Attendance:
5.1 Attendance is compulsory and roll call will be made during all
classes.
5.2 Justified absences (for reasons of health or work) should be
discussed with the instructor preferably before the fact. Participants
with 2 or more half-day absences will be required to do additional
work.

6. Grading:
6.1 Final course grade will be weighted as follows:
40% Class participation and case discussions;

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

20% Homework charts and presentations (first assignment)


40% Final project (in lieu of final exam).
6.2 Grades will be given according to the following criteria:
(a) Creative and original thinking, understanding of key
issues, entrepreneurial initiative and drive;
(b) Depth of analysis;
(c) Logical flow of ideas;
(d) Clarity and conciseness of charts, executive summary
and oral presentations.

7. Counseling:
7.1 Students are encouraged to meet with the instructor, during breaks,
before or after class.
7.2 In case of problems do not hesitate to call the instructor at the hotel
(913.0000). Please, no calls after 10 PM.

8. Feedback:
8.1 The procedures listed above are tentative. Your feedback, in class or
privately, is most welcome and your suggestions will be given full
consideration.
8.2 This is a new course for all of us. It can only succeed if we all work
together to improve the subject matter and the learning process, and
participate fully in the discussions.

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

ENTREPRENEURSHIP

FIRST ASSIGNMENT DUE Friday, July 7, 2006


(IN TEAMS)

PREPARE A PRESENTATION OF A PROPOSAL FOR STARTING YOUR OWN COMPANY


OR A NEW INTERNAL VENTURE BASED ON YOUR ORIGINAL IDEAS

SUGGESTED FORMAT FOR BUSINESS PLAN PROPOSAL

1. NAME OF THE COMPANY


NAMES OF TEAM MEMBERS
MISSION OF COMPANY

2. DESCRIPTION OF PRODUCT OR SERVICE


(HARDWARE, SOFTWARE, FUNCTIONS, APPROXIMATE PRICE, ETC.)

3. CUSTOMER BENEFITS
(WHY WILL THEY BUY YOUR PRODUCT OR SERVICE?)

4. TARGETED MARKET AND APPROXIMATE SIZE


(WHO WILL BUY YOUR PRODUCT? WHAT TYPES OF CUSTOMERS?
WHERE WILL THEY BE FOUND?)

5. PRELIMINARY PRICING (YOUR MODEL FOR PROFITABILITY)

6. ENTRY STRATEGY (HOW DO YOU PLAN TO ATTACK THE MARKET?)

PREPARE ONE CHART FOR EACH ITEM + SKETCHES AND ADDITIONAL


INFORMATION ON YOUR PRODUCT AND MARKETS, USE COLOUR AND VISUAL
AIDS.

TIME PER TEAM: 10 MINUTES (STRICTLY ENFORCED) + 5 MINUTES FOR


QUESTIONS.

HAND IN YOUR CHARTS. NO REPORT REQUIRED

NOTES:
1. PROPOSE ONLY PRODUCTS OR SERVICES PRESENTLY NOT AVAILABLE ON THE TUNISIAN
MARKET.

2. BECAUSE OF THE LIMITED DOMESTIC MARKET, ALL PROPOSALS SHOULD HAVE THE
OBJECTIVE OF EXPORTING PRODUCTS OR SERVICES.

3. ALL PROPOSALS SHOULD UTILIZE MODERN INNOVATIVE TECHNOLOGY IN THE DESIGN,


PRODUCTION, DELIVERY OF PRODUCTS AND SERVICES.

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

CREATION OF INNOVATIVE SME’S – SPRING 2OO5

DRAFT OF BUSINESS PLAN

1. Name and Mission of Company

Note: The mission should describe in one or two sentences the reason for existence and long-
range objectives of the company.

2. Product/Service Description

2.1 Technical Description (Functions and Features)

2.2 Customer Benefits

NOTES:
a) Assume the future of your Company depends upon the quality of your business plan.
b) Emphasize the customer benefits section (What does the product do for me?)
c) Product is defined as the total package of benefits the customer receives when he/she buys
(functional utility and reliability, features, warranties, services, etc.)
d) Industrial marketing customers and venture capitalists are sophisticated. Be specific in
your claims of benefits and avoid general claims or “image.”

3 Competition

Look at both direct and indirect competition. Example: robots in Finland versus manual
assembly in developing countries.
If possible, compare your product or service with those of your main competitors (features,
quality, performance, price, support, etc.)

4. Market Analysis

4.1 Market Segmentation and Selection


Selectivity should be the criterion of your plan, since your resources are limited.
Start with the most promising segment, then expand to others.

4.2 Market Size and Growth Rate


This is quantitative analysis of each market segment. Determine both size and growth
rate.

NOTES:

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

a) We are concerned here with total served market size, not with your market share. This
will be discussed in the next section, since it depends on strategy and resources.
b) Projections should be made until 2010 as a minimum (you want to be in business for a
long time!)

5. Strategy and Marketing Plan

5.1 Entry Strategy


5.2 Pricing Strategy
5.3 Market Share, as a function of time
5.4 Sales = Market x Market Share (by year from 2006 to 2010)

6. Resources

6.1 Resources Needed (people, euros or dollars, other)


6.2 Milestones (by years and quarter)
Assume your plan will be approved in July 2006 and you will start implementation on
January 1, 2007.
6.3 Preliminary Financial Plan (profit and loss, cash flow by year, 2006 to 2010)
6.4 Request for Funds (in steps, tied to milestones)

ASSIGNMENT TO BE HANDED IN on Sunday, July 10th, 2006

9.1 The assignment will include all the charts of the presentation, plans an Executive Summary
(2 pages double spaced).
9.2 The Executive Summary will summarize very briefly the key ideas and data of the plan
and present key conclusions at the end. Assume that some busy executives will read only
this summary, not the entire plan.
9.3 All pages should be numbered consecutively, including tables and illustrations.

PRESENTATIONS on Sunday, July 10th, 2006, 1:00 to 3:00 pm

10.1 Each team will have 14 minutes.


10.2 Only judges will ask questions. The last student speaker will reply or ask another team
member to reply. Answers should be short. If you do not have the answer, say so and
offer to give the information later.
10.3 Time limits will be strictly enforced (14 minutes for presentation, 5 for questions and
answers).

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

Syllabus

Session # Topics Text and Readings Cases and Oral Written Assignments
(Chapter # = Presentations
Timmons)

1. Introduction Chapter 1 None None


July 6 (Thurs) AM 1.1 Questionnaire
1.2 Course Objectives, Structure, and Syllabus
1.3 Economic Development of the Maghreb: The
Role of Technology and Innovative SMEs
1.4 Infrastructure for Technological
Entrepreneurship. The examples of Finland
and Taiwan
1.5 Video: Yahoo!

2. 2.1 The Process of New Venture Creation Chapters 2, 3 None None


July 6 (Thurs) PM 2.2 Key Success Factors
2.3 Opportunity Recognition
2.4 Self-assessment Exercise
2.5 The Business Plan
3 3.1 Proposals of Business Plans Chapters 7 Presentations of Business Plan Proposals – (Charts only)
July 7 (Fri) AM 3.2 Evaluation by Instructor and Class Proposals according to 1. Company and Mission
3.3 Results of Evaluations suggested format (page 2. Product Description
3.4 Creation of Companies 5) Customer Benefits
3. Targeted Market Segments
4. Preliminary Pricing
5. Entry Strategy
4 4.1 Case: Kevin Mooney (A) Chapter 11 Kevin Mooney What should Kevin decide?
July 7 (Fri) PM 4.2 Globalization What would you recommend to CEO
4.3 Case: Zobele Chemical Industries Enrico Zobele?

5 5.1 Case: Kevin Mooney (B&C) Chapter 6 Kevin Mooney (B&C) What should Kevin do?
July 8 (Sat) AM 5.2 Venture Capital in USA
5.3 Video: The Entrepreneurial Process
5.4 Guest Speaker: Tunisian Venture Capitalist

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MSB Pier A. Abetti
ENTREPRENEURSHIP Summer 2006

Session # Topics Text and Readings Cases and Oral Presentations Written Assignments
(Chapter # = Timmons)

6. 6.1 Case: Map Info and Role Chapter 10, 14 Map Info Business Plan Would you invest or not into
July 8 (Sat) PM Playing Abetti: Accelerated Growth Map Info? Why or why not?
6.2 Obtaining Venture Capital
6.3 Going Public (IPO)
6.4 Accelerated Growth
6.5 Map Info Today

7. 7.1 Entrepreneurial Growth Chapters 12, 13 Abetti: The Creative Evolution Questions for discussion
July 9 (Sun) AM 7.2 Case: Steria of Steria (handout).
7.3 Intrapreneurship What should Steria do next?
7.4 Case: Toshiba Laptop

8. 8.1 Business Plans None Presentation of Business Plan Business Plan charts and
July 9 (Sun) PM Presentations Summaries Executive Summary (2-3 pages
8.2 Evaluation of Course and double – spaced)
Instructor by students
8.3 Feedback of Jury and
Award of Prizes