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					                           International University in Geneva
                             Finance, Accounting and Economics Unit
                               ENTREPRENEURSHIP - Syllabus
                                          BBA 415-02


Professor: Christian T Viertel
Contact: 076 203 3390                E-mail: viertel2007@aol.com
Credit Hours: 3                      Class time: Tuesdays, 18.00 – 21.00
Class Room: TBA                      Course Prerequisite: none


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     1. Course Description:

There are very many distinct approaches to the sample TYPES of Entrepreneurships:
   • Captive : The business opportunity arises out of an exclusive model, which can develop
       by identifying and selecting target groups, which may not escape the proposed set-up
   • Regulatory: The business model is controlled by rules, laws and regulations, which may
       change and open risks (governmental interaction is often key)
   • Proven: in a typical ME-2 situation the business plan of a forerunner is adapted
   • Unproven: A “great” new “invention” or approach seeking a customer
   • Subsidized: a business model, which receives state pre-funding or life-time support (like
       Military, Telecommunication, Transportation, Export/Import)
   • SPE: Special Purpose Entity for specific needs by third parties off-balance-sheet-function
   • Outsourced: based upon anti-trust, human-resource and image problems creating
       opportunity for a new advantageous business start-up

        The business world has changed substantially, windows of opportunity open up briefly,
        and investments are less secure since entry costs have dropped in many formerly
        prohibitive segments, foreign completion in a more open world trade, outsourcing
        lucrative niches, and migrants competing for investment funds.

Students are to develop a business plan covering the different management functions. During the
course students are given tools to analyze human and capital resources, the jurisdictional and
taxation elements, the “ownership” issues, the planned marketing mix, the strategic (on- or off-
shore) implementations, the financial projections and tax planning and finally the action plan or
project termination. The endeavor focuses on an early view point, whether the project has a
reasonable chance, and to gauge its probability in the market, when not in a captive situation.


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2.      Course Objectives:
• To develop students’ understanding in the Management of a (future) firm or project.
• To enable the students managerial decision making and to discuss financial theorems.
• To gauge jurisdictional advantages and to address legal/tax traps
• To offer students knowledge of the effects of environmental, staffing, characteristical,
  organizational, financial and other legal constraints of a new venture.
• To deepen students’ knowledge of important aspects of starting up a venture and where, and to
  heighten their entrepreneurial perspective.
• To enable students to deal with human behavior, competitive countermeasures, ethical and
  management issues and how these issued are solved in small, medium sized, and, to a lesser
  extent, in large multinational and international organizations, or not.
• To train the student on fundamental elements of entrepreneurial finance modeling (Regulation
  S, going public, indebtness vs “selling” future profit participations) and in prudent
  “projectioneering”.
• To refine students’ written & oral communication and deception recognition skills


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3.     Learning Outcomes
Students will:
• Define the basic framework for a entrepreneurship endeavor
• Determining resources and capabilities
• Discuss and analyze the macro-environment/business-environment
• Compare and contrast the costs and benefits of the process model.
• Describe the key entrepreneurial opportunities created
• Develop detailed chapters and forecasts for the business plan of a new venture
• Contrast and analyze the electronic markets and the opportunities being an “E-Entrepreneur”
• Discuss foundations of New Venture Finance, and assess corporate financing strategies
• Analyze the risks and rates of return and its relationship to Investors financing the deal
• Compare financial initiatives across business environments
• Design and map organizations, especially for start-ups
• Discuss alliances, consequences of partner selection, and globalization of ventures
• Present spontaneous and planned oral reports on business practices
• Display solid understanding of the environment in which financial decisions are made

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4.     Required Textbook and Other Materials:

Textbook:

Marc J. DOLLINGER, ENTREPRENEURSHIP, Strategies and Resources, 3rd Edition, 2002.
International Edition, Paperback, ISBN 0-13-122501-4, 549 pages

Dollinger states: ‘Since the publication of the first edition of Entrepreneurship: Strategies and
Resources, the field of entrepreneurship has grown even faster than I would have predicted. There
are more courses and schools teaching entrepreneurship than ever. The major business
periodicals, Business Week, Fortune, and The Wall Street Journal continue expanding their
coverage of entrepreneurs and their companies. Success magazine has begun a ranking of top
business school entrepreneurship programs. Business plan competitions at the graduate and
undergraduate level continue to proliferate and the prizes get larger and larger. International

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interest in new venture creation has grown exponentially and some of this has been delivered
through the Internet in distance learning formats. I personally participated in one such effort
between Indiana University and City University of Hong Kong. The technology enabled us to
form joint ventures between students in the United States and Hong Kong for the purpose of
starting businesses. It was marvelous. In this third edition of Entrepreneurship: Strategies and
Resources, I have tried to improve upon the foundation set in the first and second editions. This
book is designed to be friendlier to the user, beginning with its new design and softcover. A
number of new features will help make the text easier to read and understand. Dozens of new
examples and minicases, called "Street Story," have been added. International examples and
applications are integrated throughout the book.’

All chapter numbers refer to this book.

Internet Sources: Make sure that all your questions are answered, and that you receive sufficient
support for absorbing the course material to confidently enter your final exam. The course
materials have been carefully designed and should answer your questions in most cases.
However, it is always useful to look up topics on the Internet, doing a search (www.google.com/
www.reuters.com/ finance.yahoo.com/ www.ft.com, also www.copernic.com) and to follow the
links. The book contains specific links in each chapter and has an “e-learning” address. It is
highly recommended to make use of the University’s access to the PROQUEST database
(www.proquest.com User 008T4XDM62).

Other Materials: It is highly recommended that you absorb some financial internet pages and
read some financial media including Financial Times, Economist, Wall Street Journal,
International Herald Tribune and specific Finance literature. Learning the materials for this
course is a lot more rewarding if you see how what we are doing relates to the "real world."

                                               ****

5.     Class Material:
Handouts, cases, and other additional materials will be distributed weekly during the course.
These are required materials to safekeep and study for the next sessions to be able to discuss and
explain the thematic. Students’ contributions (paper, presentations, handouts) also become
part of class material and are considered relevant for the final exam.

                                               ****

6.       Course Approach
The class will incorporate auditory, visual, and kinesthetic teaching methods intended to reinforce
the information presented in the text. Each session will include discussion and activities designed
to illustrate practical application of course material and management experience. Students are
encouraged to ask questions, actively participate in discussions, and comment on exercises and
readings. Students are also encouraged to share relevant information gleaned from outside
sources or current events.
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7.       Grading Criteria

You will be graded on this course on the basis of a Case and a final exam that account for 60% of
your grade. Class room contributions/homework presentations are very important and account for
the remaining 40% of your grade. However, in order to obtain a passing grade you must pass the
exam(s) and pop-quizzes. You cannot make up for a failing grade in the exam(s).
Thus, your grade for the course will be determined from this variety:


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Case & presentation (about mid-term)         30 %     (150 points)
Home & Assignments completion                10 %     ( 50 points)
Class Activities                             30 %     (150 points)
Final Exam                                   30 %     (150 points)
                                             100%     (500 points)
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8.     Grading Scale -     Undergraduate
A      = 93-100
A-     = 90-92
B+     = 87-89
B      = 83-86
B-     = 80-82
C+     = 77-79
C      = 73-76
C-     = 70-72
D      = 63-69
F      = 0-62%
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9.    Main Grading Activities
Case
The student will have to prepare and present a business plan which follows the outlines described
in the book and handouts, or, alternatively, thoroughly critique a sample business plan and offer
solutions, if any. The case format specifications are listed below.

CASE FORMAT
Format: 5-10 pages A4, as .doc file ; and a powerpoint.
Desired write-up structure: Use headings & Appendices (research materials used)

Problem Statement
Primary/ Sub-Problems
In the problem statement, pick an issue/example that is a central theme. There are usually more
than one example available, thus, state what others should observe, then choose 1 problem that
will guide the rest of your topical write-up.

Short Summary of the Facts
Usually only a few sentences
State those facts out of the book/internet resources which are relevant to your problem statement.
This section should build on the first section (you assume that the audience is aware of the topics)

Analysis of the Facts
Utilize the tools to go beyond the stated facts
Utilize the tools and argumental approach presented during this course to organize the facts
relevant to your topic, and : THINK OUTSIDE THE BOX.
Your analysis shall point toward alternatives and recommendations. This is the “meat” of the
study paper and should be your strongest section. The writing shall reference text material or
supporting documentation from your research. All sources shall be cited. Include reports,
graphics, in your appendices, if they are relevant and useful.

Analytical test




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A range of possible ways / methods to teach the identified topic
During class, your fellow students know little about your topic. Your assignment, in competing
with others, is analytical testing. You must put yourself in the position of a lecturer or analyst to
generate reasonable interest from the audience, as if your are trying to convince shareholders or
potential investors. It is important that your audience can make a conclusion, whether or not you
were convincing and thorough.


Summary
       Selection of the underlying essentials and the rationale in the topic
Your text should be a summary to your indicated topic. .

Your report should not exceed 5-10 pages and a powerpoint. Students will be asked to present
their report in class (for 20 min) and you will receive additional bonus for a good presentation.

The main objectives of this assignment are to apply the principles of planning, organizing,
writing, leading, and controlling for effectiveness. Analytical skills and writing abilities are
core, within the restraints of language barriers, but presentation skills are important.

Writing Standards:
Each writing assignment will be evaluated on the following criteria:
   • Content - conciseness, correctness, and completeness of response; application of theories
      learned in course; originality of ideas and creativity; logic of analysis; and use of
      examples and evidence (including a sufficient number of outside sources appropriate to
      the assignment). 70%
   • Organization - the paper or response is sequentially logical; paragraphs and sentences are
      in the right order; topics are developed within paragraphs; each paragraph represents a
      distinct topic; transitions between sections, paragraphs, and sentences flow smoothly,
      logically and entertaining. 15%
   • Presentation, appearance, and writing style - neat and proper formal paper that clear and
      concise. 15%


Presentation Standards:
   • Content - conciseness, correctness, and completeness of your handouts; application of
      theories learned in course; originality of ideas and creativity; logic of analysis; and use of
      examples and evidence (including a sufficient number of examples appropriate to the
      assignment). 40%
   • Organization - the presentation or response is sequentially logical; slides are in the right
      order; topics are developed within the presentation; each top-level slide represents a
      distinct topic; transitions between sections, explanations, and sentences flow smoothly
      and logically. 30%
   • Presentation, appearance, and presentation style - neat and proper formal attire and focus
      on the audience. Good rhetoric that is clear and concise. 30%

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Final Exam
       There is one final open book exam. The exam lasts two hours and consists of queries to
determine whether you captured definitions, analytical skills, can give clear explanations and do
reasonable calculations. The final exam is directed at testing your knowledge of materials
covered in your textbook and throughout the courses in class. The exam questions/ will be

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selected from the textbook and from class handouts/materials. Individual questions shall be
answered by the students in no specific order, some bonus questions provided to allow for
collection of extra points.
        Although tests primarily focus on the topics that are covered both in the textbook and in
the class, they will also cover core material and key concepts from assigned reading not covered
in class. The exams may consist of multiple choices; seek short responses; essay questions, and
short topics. Responses will grade according to the level of sophistication and level of
completion.
                                                ****

10.      Classroom Participation and Discussion
It is expected that each students will:
     • Be present (attend class), and on time (promptness matters).
     • Be prepared (read the assigned/prior materials).
     • Be considerate of others (listen, do not interrupt, do not use cell phones).
     • Be actively engaged in the class.

This is a core class. Therefore, attendance is extremely important and expected. Participation
points (1-2 only) may be used in the topic of borderline grades. Specifically, classroom
participation includes:
    • volunteering answers to questions;
    • asking questions which indicate awareness of, and interest in, the topic;
    • participating in discussions of lecture and textbook and other material;
    • relating your own relevant personal experiences, examples, and insights regarding the
        discussion topic;
    • Assignments must be turned in ON TIME (that means BEFORE class or by email).

                                                ****

11.     Absences
Students are expected to attend all schedule classes. Students who miss three classes will be
withdrawn from the course and graded as “Withdrawal Failure”. The only exception to this rule
is medical illness; the student should then present a medical certificate to the Registrar upon
returning to the University.
                                                ****

12.    Appeals
There are no verbal appeals on any assignment or the final exam. If you feel that your
contributions have not been graded correctly, please provide a statement in writing as to why you
believe there is a problem. The University will then provide you with a decision before the end of
the semester. Please note that in this case the teacher will re-grade the entire exam and your grade
may decrease or increase.
                                                 ****

13.    Student and Professors Conduct
The University has strict rules, which apply to all students and professors. Please refer to the
referenced material for any further matters related to ethics, attendance, exams, conduct,
complaints etc. and study carefully the Academic Policies and Procedures section. It will be
enforced.
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14.    Teaching schedule:

Summer I 2007 (April 17 – June 16)

  18:00-21:00       Session                    Session                  Session
  Tuesdays            1.          April 17       6.        May 22         10.        June 19
                      2.          April 24       7.        May 29         11.        June 26
  (Holiday?)          3.          May 01        Grad.      June 03        12.         July 03
                      4.          May 08         8.        June 05       Exam       July 05 (!)
                      5.          May 15         9.        June 12

The books: Strategies and Resources are organized into three parts.

PART ONE - Foundation of Entrepreneurship

Session 1: Entrepreneurship and Roles of a new venture creation
       Background and explanation on three factors: individuals, environments, and
       organizations

Session 2: Basic concepts and model of the resource-based theory.
       The six types of resources: financial, physical, technological, human, organizational, and
       reputational.

Session 3: Tools and techniques for analyzing and evaluating entrepreneurial opportunities.
       The environment for Entrepreneurship and the macro- and microenvironment that affect
       entrepreneurship and new venture creation, using a five-element model of the macro-
       environment: political, economic, technological, socio-demographic, and ecological
       factors. The Porter model (5-forces model), Industry attractiveness and the chances for
       creating a highly profitability venture.


PART TWO - Entrepreneurship: Strategies and Resources

Session 4: Entrepreneurial Strategies
       Venture strategies and examination of resources required for their firms. Basic entry
       wedges available to the new venture, resource-based strategies, Industry life cycle
       influence, overview of strategic postures and orientations that entrepreneurs can take.

Session 5: Isolating mechanisms and first-mover advantages.
       Models of resource-based feasibility analysis.

Session 6: The business plan. (I)
       In-depth outline for a business plan, including all the key sections and tips on how to
       structure the plan and the financial proposal for maximum effectiveness.

Session 7: The business plan (II)
       The session continues with a discussion of the criteria and techniques for evaluating
       business plans. Tips for the format and presentation, writing, and editing of successful
       business plans.

PART THREE -          Implementing Strategies and Entrepreneurial Markets


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Session 8:    B2B, B2C, C2C Business Models and E-Entrepreneurs
       The special nature of electronic entrepreneurship and examples what impact the Internet
       had on entrepreneurs and start-ups. Underlying strategies e-entrepreneurs employ for their
       firms with e-commerce models that tried/failed during the e-commerce boom.

Session 9:     Foundations of New Venture Financing
       The elements of entrepreneurial finance. Determination of venture financial and cash flow
       needs. Types and sources of potential financing, and three methods of new venture
       valuation.

Session 10: The process of going public.
       The initial public offering process (IPO)

Session 11: Investor Relations
       How entrepreneurs actually obtain investors and structure the financial deal? We are
       discussing characteristics of various types of investors and how to appeal to their needs.
       The basic elements of the deal structure are presented, and then more advanced elements,
       such as phased financing and the use of options, are introduced.

Session 12: Entrepreneurial Workplaces: the creation of an Organisation
       Management team and Corporate Governance of New Ventures


Clearly, this outline is subject to change at all times.


Required Text as Notice in Due Course: CHEATING OR PLAGIARISM are prohibited.
STUDENTS found violative, are SUBJECT TO COURSE FAILURE AND WILL BE
REPORTED TO THE ACADEMIC DEAN. TWO separate INSTANCES OF CHEATING
OR PLAGIARISM may CAUSE ACADEMIC SUSPENSION OR DISMISSAL.

STUDENTS WHO MISS EXAMINATIONS MUST RESCHEDULE MAKE-UP EXAMS
AS SOON AS POSSIBLE AND WILL BE SUBJECT TO THE INDIVIDUAL
INSTRUCTOR’S GUIDELINES FOR EXAMINATION RESCHEDULING.

       Even More Rules :
             No cellphone operation while maintaining class presence
             No eating, smoking, snorting, chewing and no headwear
             No performance of religious rites during class
             Its OK
                        to have a political agenda
                        to critizise for cause (we are off-the-record)
                        to act with enthusiasm on subject matters
                        to bring great ideas your professor can use next season
                        to contact the professor by email (Phone) for cause




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