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Small Business Management - 22432 - ENTR 3100 - A01

Winter 2016

Type Time Days Where Date Range

Lecture 2:30 pm - 5:15 pm M Art Lab 366 Jan 06, 2016 - Apr 08, 2016

INSTRUCTOR

Dr. Wenlong Yuan Associate Professor Stu Clark Chair in entrepreneurship and innovation Asper School of Business University of Manitoba Office: 656 Drake Center Phone: 204-474-9729 Email: wenlong.yuan@umanitoba.ca

OFFICE HOURS Mondays 5:15-6:15 pm after class or by appointment COURSE MATERIALS Required Textbook: Small Business Management: Launching and Growing New Ventures, 6th Edition, by Justin Longenecker; Leo B. Donlevy; Terri Champion; J. William Petty; Leslie E. Palich; Frank

Hoy, ISBN-10: 0-17-653221-8, ISBN-13: 978-0-17-653221-5

COURSE DESCRIPTION This course addresses the nature of entrepreneurship and the elements of the start-up and growth of a small business. Major topics include opportunity identification, business model development, integration of marketing and operating strategies, feasibility analysis, venture finance, and small business management.

COURSE LEARNING OBJECTIVES

https://aurora.umanitoba.ca/banprod/bwckschd.p_disp_detail_sched?term_in=201610&crn_in=22432

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Identify the processes involved in starting a new venture; identify the processes involved in funding

and investing in a new or growing entrepreneurial venture; and understand methods for organizing and managing an entrepreneurial venture

Develop critical thinking and analytical skills

Learn and work as a team member to conduct research projects

METHOD OF ASSESSMENT

ASSIGNMENT VALUE DUE DATE In-class quizzes (4%*9) 36% See schedule Business plan critique 5% See schedule Case presentation (group) 10% See schedule Interview an entrepreneur written report presentation

15% 5%

See schedule

Feasibility study - written report 29% See schedule

Total 100%

PERFORMANCE ASSESSMENTS 1. Quizzes (36 percent)

The instructor will use quizzes to emphasize the key points of chapters and lectures. The dates of these quizzes are included in the class schedule. All quizzes are scheduled at the end of each class and each quiz lasts around 20-30 minutes. The 9 quizzes with the highest marks (out of 10) will count for the final grade. Students are NOT allowed to have make-up quizzes.

The instructor may not necessarily cover all of the materials in the chapter. It is the responsibility of the student to understand the concepts presented in the textbook and lectures. If you are unsure of any of the concepts, please take the initiative to ask the instructor. 2. Business plan critique (5 percent)

Business plans will be provided for assessment and critique. Each student will provide an individual business plan evaluation (critique) that is a minimum 4 pages in length (double-spaced; 12-font). Address your written critiques to the promoter(s) of the business and cover what is done well, what is missing, and what are the most critical variables for the success of this business. The business plans to be critiqued are available on the UM learn. 3. Case presentation (10 percent)

Each group will analyze a case and give a 15-minuite presentation to the class. Review the Questions at the end of the case; Take the point of view of the protagonist as you read the case put yourself in the place of the character identified in the case or study questions as the decision maker. Briefly introduce the basics of the case to the class.

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Use the facts to provide support for your argument. Take a definite stance and support it. ONLY use the information in the case. There is not a right answer but there is usually a better answer than others. More important is to provide your answer and provide support for it. A you've done an exceptional job of putting in the extra time in answering the questions thoughtfully and concisely. Your analyses clearly draw on class material, answer the questions well, show good analyses of key issues and offer strong ideas about how to take action. B+ and B You've read the case and answered the questions well. Your comments reflect basic understanding of key material, and your effort to apply them to the practical setting. C+ and C you've read the case but put modest thought into answering the questions. D or lower Incomplete; miss important questions.

4. Entrepreneur Interview (group work; 20 percent)

The interview of a Founder/Entrepreneur will provide your group with significant information about the organization as seen through the founders eyes, especially the issues faced throughout the stages of the company. The interview should include the following topics:

1). Who is the entrepreneur? What is their business or venture? When did they start it? 2). How effectively does the founder/entrepreneur feel he/she was adequately prepared for starting

and running a business? What experience would have been invaluable to obtain prior to starting the business?

3). How was the idea conceived for the business? 4). What process did the founder follow in developing the business? For instance, did the founder

write a business plan, search for financing, etc.? 5). Was the process successful? What would the entrepreneur have done differently at the initiation

of the venture? 6). What have been the biggest issues the entrepreneur has faced at different stages of the venture?

How did he/she deal with these issues? 7). What are the major personal goals and organizational goals that the entrepreneur has for the

next several years? How confident is the entrepreneur about these goals? Is the entrepreneur still passionate about the business? How many hours does the entrepreneur work on the business every week?

8). Identify the key takeaways from this conversation. 9). Some other guidelines: a. Conduct the interview in person. b. Note the critical milestones that the entrepreneur has achieved. c. Dont just report the interview, but also critique the entrepreneurs process (e.g., do you agree

with the way the entrepreneur launched the business? What should he/she have done differently? If it was an effective process, why?).

d. Include Direct Quotes. e. Schedule the interview ASAP. Time is of the essence for the owner. DELIVERABLES: 1). A 10-page paper that summarizes the questions above (double-spaced; 12-font).

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2). A 5-minute presentation of the company and the interview. The presentation should address the questions above. You do have the option to develop a video of the interview for class presentation or a Powerpoint or Keynote presentation.

3). Please submit a business card of the founder/entrepreneur with detailed contact information. 4). Please submit your report to the founder/entrepreneur for her comments.

5. Feasibility Study

The purpose of a feasibility study is to determine if a business concept is viable. While a feasibility study have some of the same elements as a start-up business plan, it is not selling an opportunity but rather assessing its likelihood for success.

If you have difficulty picking a topic, please bring your ideas and interests to the Instructor and we will discuss options and ideas. We occasionally have external groups that would benefit from student work on feasibility studies. A feasibility study has a greater emphasis (than a business plan) on the critical analysis of the opportunity. In other words, you are expected to collect sufficient and relevant data that will allow you to expertly analyze the strength of the opportunity, be able to point out flaws, and lastly, to make suggestions as to what changes could be made to strengthen the opportunity. You may need to talk to potential customers, suppliers, competitors, and other industry people to understand your opportunity. This will help you assess if the business opportunity should be pursued (or not). The actual feasibility report document is the culmination of your planning, research, and business model development. It serves as a document that critically analyses whether or not you should proceed with the opportunity identified. There is no fixed length for the feasibility report, but it will likely be 15-20 pages (double-spaced; 12-font), excluding Appendices. Be precise and concise. Your feasibility study should use the following format: A. Title Page: Business name; full contact information of the team members. B. Executive Summary: 1-2 pages in length; generally one paragraph for each of sections (note: this section is written after the rest of the report is completed and should be a stand-alone summary of your entire report). C. Table of Contents: with page numbers. D. Value Proposition: What is the Value Proposition (VP) customer segment and market fit elements that solve a customers pain or gain. What is your product service, who is your customer and what is the stickiness of the opportunity and its potential scalability? E. Proposed Company Description: Name of company & entrepreneur(s); ownership & legal structure; summary of proposed business product/service, industry/target market, management and operations, funds needed and used, and sales projections. F. Competitive Advantage: Based on the management structure and capacity you have developed within your business model, what exactly is your competitive advantage (CA), for how long, the factors that limit its strengths, and dynamic management of the CA into the future? G. Internal feasibility: Based upon the information provided in d., e., and f., do you have all the pieces in place to realistically deliver? H. External feasibil