Professor: Lee Thurburn, MBA
Office Hours: via Appointment Only
- M-W 8:00 PM – 10:20 PM COB Room 255 – June 8 – Aug 1, 2016
- M-T-W-Th 1:00 PM – 2:50PM COB Room 152 – Jul 12 – Aug 11, 2016
Scarborough, N. M. (2011). Essentials of Entrepreneurship and Small Business Management, Seventh Edition. Upper Saddle River, NJ: Pearson Education, Inc. Additional materials, readings, and cases will be provided by the instructor either in class or in electronic form.
What are the course objectives?
MANA 3325 ENTREPRENEURSHIP AND VENTURE MANAGEMENT is designed to help you understand how to identify and assess new venture opportunities in either a start-up or a corporate environment. You will consider the attributes of entrepreneurs and the role of entrepreneurship in the economy. At the end of this course, you will understand: how to assess the market and financial feasibility of the new venture; how to select between ownership choices; how to use debt and equity financing; how to drive market adoption, and how to lead a growing company. The cornerstone of the course will be a Business Plan for a new venture of your choice. At the end of the course you will present your Business Plan project to the class in a competition where the winners gain extra credit added to their grades.
How will I learn in this course?
In this class, you will learn as a result of the following:
- Read the Text. This is critical. Read it in advance and be prepared to discuss anything in the assigned reading during the next class session. I have read the text and find it very easy reading as well as filled with great material. Read the text 3 times. Once for concepts. Once for details. Once for outlining.
- Attend class. We will cover material in the class that is not included in the text. If you do not attend class regularly it will be very difficult for you to get full benefit and a good grade. It is especially important that you attend the sessions when we have outside speakers. The outside speakers each have a wealth of direct experience that you can learn from, but only if you are there to ask questions and interact with the speakers.
- Group Project. You will be part of a group and assigned the task of completing a feasibility project. This project is a major portion of your grade and will consume a major portion of the class time towards the latter part of the semester. You will need to be active in your participation with the group.
- Interview an Entrepreneur. You will be required to interview an entrepreneur from the local business community. This will be an opportunity for you to learn directly from the entrepreneur as well as to develop a thought process where you ask questions that generate valuable insight into the entrepreneurial mind and process.
What are the course components and grade distribution?
- Class Participation 10%
- Pop Quizzes (5 of 7 @ 4%ea) 20%
- Live Case Study “What’s your story?” 10%
- Group Business Plan Project 13%
- Business Investment Decision Explanation 7%
- Midterm exam (20%) 20%
- Final Exam (20%) 20%
NOTE: I will deduct points from your final grade for Cell Phone Usage (ie: such as talking or texting) during class.
I grade on a curve in this course. The student with the Best Overall Score in the class will be considered 100% and all other scores will be adjusted against this Top Score.
Once the final grades are in for all course work and class participation I will determine the grades based on the following scale:
- 90 % and above A Excellent student work
- 80-89 % B Good student work
- 70-79 % C Acceptable student work
- 60-69 % D Poor student work
- Less Than 60% = F Failure to perform to acceptable minimum standard.
Please note that the above scoring system is representative of the real world and also provides an incentive to put your best work forward.
1. Class Participation (10%)
- Attendance is critical to your learning the materials and class will start on time each session. The Golden Rule of Time Management is: “Early is on time, On Time is Late, and Late is Unacceptable”. That is how business owners think and how entrepreneurs act. You will not be graded based on when you arrive for class, however, I will appreciate your timely arrival.
- Engagement is a key concept. Your level of true engagement while in the class will be a primary component of your grade. This is, of course, highly subjective and it is up to you to convince me that you are engaged.
- Your active participation in class will show to me that you have read the materials in advance and that you have given thought to what you read. It is amazingly easy to see who is prepared and who is not prepared based on their level of engagement during a class.
- Do not use your cell phone during class. Talking and texting on your cell phone is prohibited. Consider this your only warning… put your cell phone away during class to avoid penalty. I will take off one point from your final grade each time I see you using your cell phone. The only use of a cell phone that is permitted is to use the calculator function during an exam where there is a math related question. If the exam does not have any math you should leave the cell phone put away.
- If I notice that you are not proactively and voluntarily participating in class I will likely call upon you. Be prepared to be called upon. If I call upon you and you are not prepared to discuss the material at hand this will be considered when I evaluate your Class Participation at the end of the semester.
- While Class Participation is not a huge individual component of your overall grade it often makes the difference between one grade level and another. Remember, it is your responsibility to prove to me that you are prepared, not my responsibility to check and make sure you are prepared.
- NOTE: It is YOUR JOB as a student to make sure that I know you have participated. If we get to the end of the class and I cannot recognize you as having participated you will receive 0% for this score. In other words… getting 10% for simply attending class is not going to happen. You must participate and make it known to me that you have participated otherwise these points will not be awarded to you.
2. Quizzes (20%)
- Seven (7) quizzes will be issued during the semester. There will be no advance warning of when they will be issued.
- The best (5) scores on the quizzes will be used to calculate the contribution of 20% of your overall course grade.
- There are no ‘make-up’ quizzes under any circumstances.
- Quizzes may be given at the beginning, middle, or end of the class. Failure to be in the class when the quiz is issued may cause you to miss the quiz. It is highly recommended that you plan to be at each class from opening bell to closing bell to insure that you do not miss a quiz.
- Quizzes will be designed to take 10-15 minutes to complete and will consist of Yes/No, True/False, Multiple Choice, and some Short Essay or Fill-in The Blank type questions.
3. Live Case Study: “What’s your story?” (10%)
- READ THESE REQUIREMENTS
- The Live Case Study will require you to go out and meet a ‘real live’ entrepreneur and interview him or her. It is NOT OK to simply get information from a website. You may interview the entrepreneur over the phone… it is not required that you meet with them in person.
- The Entrepreneur must meet the definition of ‘Entrepreneur’ contained in the book.
- You must provide complete contact information for the Entrepreneur including phone #, email address, website (if they have a website) and their business address.
- A guide to performing the interview is available online HERE.
- You will write a Case Study documenting the entrepreneur’s start-up and business experience. The suggested length of this document should be at least 1500 words in length. I doubt that you can do a comprehensive interview analysis in less space. It is common for the Case Study to be 2500 words in length.
4. Group Business Plan Project (13%)*
- The purpose of the Group Business Plan Project is to show me that you have a comprehensive understanding of the concepts presented during the class. This will be evidenced by your Group Business Plan and by your personal Investment decisions when you invest Class Script in one or more Business Plans.
- You are required to create a Business Plan for a New Restaurant Concept.
- All Students will create a Business Plan for the same kind of business to make the competition as fair as possible.
- You may NOT use a business plan that you developed for another class project outside of this class.
- The Business Plan must be constructed such that you need a minimum of $200,000 in investment which you will attempt to raise from Investors (students) during your Business Plan Presentation.
- You may not ‘pretend’ to contribute more than $200,000 in additional funds from other sources. In other words… you can not pretend that you are putting in $1,000,000 and only need $200,000 to finish the investment. Your maximum ‘pretend’ personal contribution from any and all other sources is $200,000.
- The Maximum Investment that you may request is $1,000,000.
- Your Business Plan must be for a ‘Start-up’ business. You may NOT presume that you have an existing restaurant business that is expanding.
- You MUST offer Common Stock to Investors.
- You MUST need Investors.
- You MUST specifically identify what Investors receive in the way of stock… shares and % of ownership… in your company.
- You will submit both a written document and a spreadsheet. The written document should be between 15 and 25 pages single spaced with little or no graphics. If you add graphics I will expect more. Paragraphs should have a blank space between then but the individual paragraphs will be single spaced. The spreadsheet should be 10 individual pages. Each page should cover one year. The detail should be printed in 10 point font or greater.
- You will be presenting your Business Plan to the Class and will be required to raise Investment Money from the other students (Investors). If your written Business Plan and your Group Presentation does not clearly request an investment of at least $200,000 you will have 20 points deducted. No exceptions.
- Each Student will be given $50,000 in ‘Class Script’ to invest. The reasons you give for making your investment will be 30% of your Business Plan Project grade. Well thought out reasons for making your Investment may add to your individual grade… poorly articulated reasons will not help your grade and may be a reason to deduct from your individual Business Plan Project grade.
- Be sure to help your team mates. If I am told that you have not contributed on an equal basis I will reduce your individual score by 50%. This could be the difference between a pass or fail for the course. Participating in the Business Plan Project is important.
- Teams will have their Business Plan Project Score adjusted as follows:
- Team receiving the Highest Investment gets 25 pts. added
- Team receiving the Next Highest Investment gets 20 pts. added
- Team receiving the Next Highest Investment gets 15 pts. added
- In the event of tie’s at the various levels the points will be split evenly between the tying teams.
- Your Business Plan Project is due to be handed in at the beginning of the class on the 1st day of class devoted to Business Plan Presentations. You must print out and hand in both the written explanation portion and the cash flow projection spreadsheet portion. You are also required to email me your Business Plan… both sections… either the day before or the day that they are due to be handed in. Emailing your Business Plan does NOT qualify as being handed in. The Email is in ADDITION to the printed version.
NOTE: Be sure that you understand that it is possible that the 25 extra points could be provided to a Team which got 100% making the Top Grade on the Business Plan Project effectively = to 125%. If your team does poorly on the project and receives a 60% or 70% it will be equivalent to a score of 60/125 or 70/125 which is a failing grade for the business plan portion of the class. This can have a major negative impact on your overall grade for the class.
5. Business Investment Decision Explanation 7%
- Each Student will be given $50,000 in ‘Class Script’ to invest. The reasons you provide for making your investment will be evaluated when grading the decision you make. Well thought out reasons for making your Investment may add to your individual grade… poorly articulated reasons will not help your grade and may result in a poor grade for this portion.
- It is recommended that you use the language of entrepreneurship as covered in the class to justify you decision..
- Students may NOT invest in their own Business Plan with the Class Script.
- Students may invest their Class Script in up to 2 Business Plans presented by other Student Teams.
- Your Investment Decision Explanation Form is due at the end of class on the last date when business plans are presented in class. Failure to be present that date and turn your business plan in means that you will be a -0- for the Investment Decision Explanation portion.
6. Midterm & Final Exams (20% each = 40% total)
- There will be two comprehensive examinations to assess mastery of the course material. The tests may include Fill in the Blank, Short Essay, Multiple Choice, and Yes/No or True/False question formats.
- Everything covered in the course, including the book, can appear on the exam. I will give an exam review before each exam. Exams are NOT open book.
- Midterm and Final Exams are not subject to ‘make-up’… none of the quizzes or exams are subject to ‘make-up’. If you miss the Midterm or Final it will be extremely difficult for you to pass this course.
General Class Guidance: You should expect to spend 6-9 hours per week studying for this class. I recommend that you read the text twice. The first time you should read for general concepts, the second time read and outline. The outline can be a great study guide for exams. Most of your test questions will be generated by me using the same methodology. I do not use test questions that are provided by the publisher. I create my own questions based on the materials covered. If you read each chapter at least twice as described above you should do very well on tests.
Make-up Exams: There are NO Make-up Exams offered. If you miss a scheduled exam you will receive a zero (0) for that score. This applies to all exams… no exceptions.
Cell Phone Usage: Cell phones are to be turned off during the class. No exceptions. If I catch you talking or texting on a cell phone I will deduct one point from your final grade score. I will not challenge you about your activity. I will simply deduct a point for each infraction. Cell phone usage during class can easily make the difference between letter grades when your final grade is calculated. Cell phones may be used during exams as calculators but only if the exam has a math question on it.
Laptops/Tables: You may use your laptop or tablet to take notes during class. Please do not access social media sites as they can be distracting to the classmates near you.
Drop Policy: Students may drop or swap (adding and dropping a class concurrently) classes through self-service in MyMav from the beginning of the registration period through the late registration period. After the late registration period, students must see their academic advisor to drop a class or withdraw. Undeclared students must see an advisor in the University Advising Center. Drops can continue through a point two-thirds of the way through the term or session. It is the student’s responsibility to officially withdraw if they do not plan to attend after registering. Students will not be automatically dropped for non-attendance. Repayment of certain types of financial aid administered through the University may be required as the result of dropping classes or withdrawing. For more information, contact the Office of Financial Aid and Scholarships (http://wweb.uta.edu/aao/fao/).
Americans with Disabilities Act: The University of Texas at Arlington is on record as being committed to both the spirit and letter of all federal equal opportunity legislation, including the Americans with Disabilities Act (ADA). All instructors at UT Arlington are required by law to provide “reasonable accommodations” to students with disabilities, so as not to discriminate on the basis of that disability. Any student requiring an accommodation for this course must provide the instructor with official documentation in the form of a letter certified by the staff in the Office for Students with Disabilities, University Hall 102. Only those students who have officially documented a need for an accommodation will have their request honored. Information regarding diagnostic criteria and policies for obtaining disability-based academic accommodations can be found at www.uta.edu/disability or by calling the Office for Students with Disabilities at (817) 272-3364.
Academic Integrity: Students enrolled in this course are expected to adhere to the UT Arlington Honor Code:
I pledge, on my honor, to uphold UT Arlington’s tradition of academic integrity, a tradition that values hard work and honest effort in the pursuit of academic excellence.
I promise that I will submit only work that I personally create or contribute to group collaborations, and I will appropriately reference any work from other sources. I will follow the highest standards of integrity and uphold the spirit of the Honor Code.
UT Arlington faculty members may employ the Honor Code as they see fit in their courses, including (but not limited to) having students acknowledge the honor code as part of an examination or requiring students to incorporate the honor code into any work submitted. Per UT System Regents’ Rule 50101, §2.2, suspected violations of university’s standards for academic integrity (including the Honor Code) will be referred to the Office of Student Conduct. Violators will be disciplined in accordance with University policy, which may result in the student’s suspension or expulsion from the University.
Student Support Services: UT Arlington provides a variety of resources and programs designed to help students develop academic skills, deal with personal situations, and better understand concepts and information related to their courses. Resources include tutoring, major-based learning centers, developmental education, advising and mentoring, personal counseling, and federally funded programs. For individualized referrals, students may visit the reception desk at University College (Ransom Hall), call the Maverick Resource Hotline at 817-272-6107, send a message to email@example.com, or view the information at www.uta.edu/resources.
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Student Feedback Survey: At the end of each term, students enrolled in classes categorized as “lecture,” “seminar,” or “laboratory” shall be directed to complete an online Student Feedback Survey (SFS). Instructions on how to access the SFS for this course will be sent directly to each student through MavMail approximately 10 days before the end of the term. Each student’s feedback enters the SFS database anonymously and is aggregated with that of other students enrolled in the course. UT Arlington’s effort to solicit, gather, tabulate, and publish student feedback is required by state law; students are strongly urged to participate. For more information, visit http://www.uta.edu/sfs.
Final Review Week: A period of five class days prior to the first day of final examinations in the long sessions shall be designated as Final Review Week. The purpose of this week is to allow students sufficient time to prepare for final examinations. During this week, there shall be no scheduled activities such as required field trips or performances; and no instructor shall assign any themes, research problems or exercises of similar scope that have a completion date during or following this week unless specified in the class syllabus. During Final Review Week, an instructor shall not give any examinations constituting 10% or more of the final grade, except makeup tests and laboratory examinations. In addition, no instructor shall give any portion of the final examination during Final Review Week. During this week, classes are held as scheduled. In addition, instructors are not required to limit content to topics that have been previously covered; they may introduce new concepts as appropriate.
Emergency Exit Procedures: Should we experience an emergency event that requires us to vacate the building, students should exit the room and move toward the nearest exit marked by signs just outside the classroom. When exiting the building during an emergency, one should never take an elevator but should use the stairwells. Faculty members and instructional staff will assist students in selecting the safest route for evacuation and will make arrangements to assist handicapped individuals.