Dominican University

ENTREPRENEURSHIP -- BAD 275

Course Syllabus and Schedule -- Spring 2004

(Tuesday and Thursday, 1:00 - 2:15 PM)

CONTACT INFORMATION

Professor: Terrie Nolinske, Ph.D.

Email address: tni@tniconsultants.com (the only email I check)

Phone: 708. 386. 1331 (the only voicemail I check)

Office hours: before class or by appointment

REQUIRED COURSE MATERIALS and TEXTBOOK

1. Essentials of Entrepreneurship and Small Business Management, 3^rd edition, by

Zimmerer & Scarborough, published by Prentice Hall, 2002.

2. Red Book: Illinois Small Business Resource Guide from the U.S. Small Business

Administration Illinois Office and the Illinois Department of Commerce and Economic

Opportunity

3. Entrepreneurship Packet

PRE-REQUISITES -- None

COURSE DESCRIPTION

During the semester, the learner will be exposed to many facets of entrepreneurship including the entrepreneurial profile and applying concepts of organizational structure, strategy, management, marketing, operations, accounting and finance to the steps of starting a small business enterprise. This is a course that is hands-on and participatory; learners will research information each week to contribute to class sessions. Learners will work in teams throughout the semester to start up a small business for which they will create a business plan.

COURSE OBJECTIVES

By the end of the semester, the learner will

1. identify qualities and characteristics of a successful entrepreneur

2. determine the steps necessary to start and operate a small business

3. compare and contrast at least four small business forms

4. identify and apply financial constructs required by small business

5. write and critique a small business plan

6. problem-solve small business issues in an ethical manner, integrating socio-cultural, political-legal, economic and technology elements in the environment

COURSE METHODS

The course will be taught using a variety of methods including lectures by the professor and guest lecturers, discussions, off-site interviews, case studies and small group activities.

RULES OF THE DAY or "How to get the most from the course”

1. Be prompt and regular in your attendance.

2. Listen not only to what is said, but how it is said.

3. Participate actively and enthusiastically.

4. Be creative. Think outside the box.

5. Test out new thoughts and ideas.

6. Respect the views of others.

7. Acknowledge and appreciate differences.

8. Honor confidentiality. After class, talk about what was discussed, not who said it. Keep confidences and trust that others will do the same.

IN THE EVENT OF YOUR ABSENCE:

Regular class attendance is expected. Please exchange contact information with someone in class. It is your responsibility to get notes for missed classes from a classmate. It is also your responsibility to get assignments to the professor on time. More than three missed classes will result in a lower grade, by at least one letter, for overall class participation and attendance.

COURSE SCHEDULE

Listed below is the date for each class, class topic and required reading to be completed before the class session for which it is designated. In italics, please note an abbreviated reminder of assignments due for each class. An explanation of assignments is found on pages 6-8 of this document.

DATE TOPIC READING*

Thurs. Jan. 15 Introductions

Review syllabus Syllabus

Obtain Blackboard access

Assign web exercise: due January 20

Start thinking about the business you will start!

DATE TOPIC READING*

Tues. Jan. 20 Foundations of Entrepreneurship Chapter 1

DUE: Web exercise to examine Packet p.6

entrepreneurial opportunities Packet p.18-19

DUE: Signed Letter of Agreement for Syllabus

Thurs. Jan. 22 Barriers to Creativity Chapter 2

Creativity and the Entrepreneurial Mind Packet 23-34

In class case 1.3: Philip Romano Packet p.22

Tues. Jan. 27 Small Business Resources Packet p.37-82

Form Business Teams Red Book

DUE: Mrs. Allen’s Shed Stop Packet p.7

Thurs. Jan. 29 Developing a Business Plan Chapter 10

In class case: Dayne Landscaping, Inc. Packet p.83-132

Tues. Feb. 3 Protecting Your Ideas Chapter 2

Patent, Trademark, Service Mark, Copyright

DUE: Examples of patents, trademarks, copyrights

Meet in Business Teams

Thurs. Feb. 5 Strategic Planning: Mission, Vision, Chapter 3

Strengths, Weaknesses, Opportunities, Threats

Packet p.133-134

Tues. Feb. 10 Strategic Planning: Competitive Strategies Chapter 3

DUE: Today Buffalo; Tomorrow the World Packet p.7

Forms of Business: Chapter 4 Sole Proprietorship, Partnership Packet p.135-143

Thurs. Feb. 12 Forms of Business:

Corporations, Franchises Chapter 4

Certifications (WBE, MBE) Packet p.144-149

Tues. Feb. 17 Buying an Existing Business Chapter 5

Guest Speaker: Luisa Scala

President, Wide Scope Staffing

Hillside, Illinois

DATE TOPIC READING*

Thurs. Feb. 19 The Financial Plan: Managing Cash Flow Chapters 8, 9

Guest speaker: Professor Steve Harrington Text p.250-267

School of Business, Dominican University Red Book DUE: Write-up of Entrepreneur Interview

Tues. Feb. 24 The Financial Plan: Managing Cash Flow Chapter 8, 9

Guest speaker: Professor Steve Harrington Text p.250-267

School of Business, Dominican University Red Book

DUE: Finance assignment

Thurs. Feb. 26 Owning a Business

Guest Speaker: Mickey Baer, Owner and CEO

A Matter of Style

Oak Park, Illinois

Tues. March 2 Marketing Your Business Chapter 6

Guest speaker: Ann Joachim, President

Joachim and Associates Communication, Inc.

Oak Park, Illinois

Thurs. March 4 Marketing Your Business Chapter 6

Advertising Your Business Chapter 7

DUE: Midterm Exam

March 9, 11 Mid-semester Vacation – No Classes

Tues. March 16 Location and Layout Chapter 12

Guest Speaker: David King, President

David King and Associates, Inc.

Oak Park, Illinois

Thurs. March 18 Control: Assessing Effectiveness Packet p.150-153

Quality Assurance

Tues. March 23 E-commerce Chapter 15

Guest speaker: Steven Saraceno

President, Purple Monkey Studios

Oak Park, Illinois

DATE TOPIC READING*

Thurs. March 25 Managing Diversity / Vendor Diversity Packet p.154-185

In class exercises

Tues. March 30 Leading a Growing Company Chapter 14

DUE: Short answers to cases Packet p.186-198

Thurs. April 1 Leading a Growing Company Chapter 14 Guest Speaker: Laura Maychruk

Owner, Buzz Café

Oak Park, Illinois

Tues. April 6 Team Meetings: Finalize Business Plans

Thurs. April 8 Easter Vacation – No Class

April 13, 15 Measuring Customer Satisfaction Packet p.199-217

Survey Research Methods

Tues. April 20 2 Business Plan Presentations Packet p.9

DUE April 20: All Written Business Plans

Thurs. April 22 2 Business Plan Presentations

Students critique business plans / presentations

Tues. April 27 2 Business Plan Presentations

Students critique business plans / presentations

Thurs. April 29 2 Business Plan Presentations

Students critique business plans / presentations

*Most assigned readings are from the course textbook, course packet and booklet from the Small Business Administration. Other readings and supplementary materials may be handed out and assigned during class.

ASSIGNMENTS AND EVALUATION

All assignments must be typed – double spaced, using 11 point Arial font. Pages must be numbered. Please use one-inch margins on all sides. If papers are more than one page in length, pages must be stapled. Only those assignments that meet the aforementioned criteria will be accepted.

Assignments are accepted on for before the date due. Late assignments will not be accepted. Learners will receive an "F" for any assignment not turned in. Learners will also receive an “F” for any assignment not following prescribed format guidelines. Both content and writing style (e.g., punctuation, grammar, syntax) are assessed equally when grading written work. Grades are given in accordance with the university grading system (A, A-, B+, B, B-, C+, C, C-, D, F).

Learners will be evaluated on the following activities during the semester (see pages

12-14 for details about grading):

15% -- Class attendance and participation (DUE: every class)

Each of you brings a unique set of life experiences that give you a different point of view on the material. You are expected to attend each class and to contribute meaningful ideas during discussions and activities such as small group work. See page 9 for the grading of participation. More than three missed classes will result in a lower grade, by at least one letter, for class participation and attendance.

5% -- Web Exercise: Identifying Entrepreneurs (DUE: Jan. 20)

You will be assigned a company’s website from the list below. There is a brief paragraph about each of the companies in chapter one of the text. After reviewing the website, please respond to the following questions, using short phrases and / or bullet points – no longer than two pages.

1. What characteristics of the entrepreneurial profile do the entrepreneur(s) have?

2. What barriers do the entrepreneur(s) face?

3. What benefits do the entrepreneurs reap?

4. What contributions do businesses like this one make to the U.S. economy?

Zephyr Adventures -- www.zephyradventures.com

Paradise in a Pan -- www.peggyjeanspies.com

The Chocolate Vault -- www.chocolatevault.com

Digital Resource Providers -- www.drp-inc.com

Kate Spade, Inc -- enter keywords Kate Spade into search engine

Phylway Construction, Inc. -- www.phylway.com

Autoweb.com, Inc. -- www.autoweb.com

Sandman.LLC -- www.sandbags.com

Psion PLC -- www.psion.com

Fubu -- www.fubu.com

Accident Reconstruction Analysis -- www.accidentreconstructionanalysis.com

Lizzy’s Homemade Ice Cream -- www.lizzysicecream.com

Three Dog Bakery -- www.threedog.com

ASSIGNMENTS AND EVALUATION (cont’d)

15% -- Evaluate Ideas for Market Potential – Mrs. Allen’s Shed Stop (DUE: Jan. 27)

Barbara Allen has hired you, the consultant, to evaluate the market potential of her business idea. “When Barbara was a little girl, her grandfather passed along to her a ‘secret formula’ that he learned growing up in the Carpathian Mountains of Transylvania. The ‘secret formula’ was a concoction created by an ancestor to give the family’s shepherding dogs beautiful coats of fur. The blend of natural oils and vitamins in the formula not only gave the dogs shiny coats, but it also stopped shedding of their hair.

Only decades later did Barbara begin to think that this centuries-old secret formula, which she named Mrs. Allen’s Shed Stop, might have market potential. She suspects that there might be a market for a safe, all-natural product that would eliminate a shedding problem for the nation’s 124 million pet owners” (Zimmerer and Scarborough, 2003, page 57).

Using resources on the World Wide Web, explore the potential for this product. Using the information you find and what you can infer based on that information, please respond to the questions below in no more than four pages.

a. What benefits does the product offer customers?

b. Is there a need for this product?

c. On a scale of 1 to 10, how easily will potential customers understand the benefits of this product?

d. What problems will the product solve?

e. What problems or difficulties might the product create?

f. How large is the market size for this product?

g. Can you describe a customer profile (e.g., age, income, where live, what do)?

h. What things must you and Mrs. Allen consider to execute the idea and sell it commercially?

i. Does the product have natural sales appeal? Will people buy it? Why / why not?

j. How unique is your product? What similar products exist? Is yours better? How easily can other companies imitate your idea?

k. On a scale of 1 to 10, how difficult do you think it will it be to distribute this product – to get it into customers’ hands?

ASSIGNMENTS AND EVALUATION (cont’d)

5% -- Shuttle America -- Today Buffalo; Tomorrow the World! (DUE: Feb. 10)

Please read the case on Shuttle America, found on page 92 of the text. Respond to the three questions following the case, using bullet points for the SWOT analysis in Q2 and short phrases to respond to Q1 and Q3. This paper should be no longer than two pages.

15% -- Write-up: Interview with An Entrepreneur (DUE: Feb. 19)

The purpose of this assignment is to help you better understand the relationship between concepts discussed in class and the reality of practice in the business world of the entrepreneur.

Identify and interview an entrepreneur. Make sure that you have the entrepreneur read and sign the Informed Consent form, found on page 16 of this course packet. This form must be handed in with your paper. The paper should be no longer than five pages.

The interview may take place by phone or in person, although the latter is preferred. So as not to presume upon the entrepreneur’s time, the interview should last no longer than 60-90 minutes. Spend time researching the company and preparing for this interview. Do not waste the entrepreneur’s time! If the entrepreneur agrees, you may tape record the interview so that you can concentrate on the interview and minimize note taking.

Here are but some of the questions you could ask during your interview:

1. How long has the entrepreneur owned his or her business?

2. What prompted the entrepreneur to start his or her own business?

3. What form of business did the entrepreneur decide to use? Why?

4. What is the mission of the company?

5. What are the company’s strengths, weaknesses, threats and opportunities?

6. What image does the company trying to project?

7. What forms of marketing and advertising are used? Are they successful?

8. What competitive strategies are being used? How have these changed?

9. What does the entrepreneur see as the company’s competitive advantage and how is this communicated to customers?

10. Has the business changed since it began? In what way(s)? What prompted the

change(s)?

11. How does the entrepreneur ensure quality products and / or services?

12. How does the entrepreneur measure the success of his or her business?

13. What advice does the entrepreneur have for others starting their own business?

15% -- Take-home Midterm Exam (DUE: March 2)

15% -- Written Business Plan (DUE: April 20)

While developing a business plan helps the entrepreneur think through all phases of starting a business, it is not a guarantee the business will succeed. Only hard work, creative ideas and the right business environment can do that!

Each business team will develop a business plan for their business, following the outline on pages 30-41 of the packet. Refer, also, to pages 355-358 of the text, Essentials of Entrepreneurship and Small Business Management, by Zimmerer and Scarborough. One grade will be awarded for each business team, regardless of how much each individual contributed. Therefore, it is the responsibility of each team member to fully contribute to the team’s business development in a meaningful way.

We will discuss, in class, the specificity expected for each section of the business plan. The business plan will be evaluated on content and writing style. Great content is no good without clear, precise writing!

The business plan is to be presented using a narrative format, not outline format. Use headings and subheadings to focus the reader’s attention, as in the following example:

INDUSTRY ANALYSIS

Industry Background and Overview

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Industry Trends

ashdadh sfkhj asdfhka s dfhas dlg hkdlshjk

Growth Rate

asdadsadsghl;ksdgh la ksdhj;asdf gjasld fghjk a;sd fhasldfhkasd

Outlook for the Future

acdg ypi dbfapabdfy ank.asdhf;lasdh ; ahsdf;dfhjk;lasdf;lj kl

BACKGROUND OF OUR BUSINESS

15% -- Presentation of Business Plan (DUE: April 20, 22, 27, 29)

You must be able to articulate your business clearly and succinctly. Each business team will present their business plan as they would to potential investors. The presentation should include a PowerPoint presentation to help focus attention on key points. The

20-minute presentation shall be divided equally among team members. The audience of ‘investors’ will give each team feedback on both content and delivery, using a rubric developed in class.

PLAGIARISM and ACADEMIC DISHONESTY

Plagiarism is the use of someone else’s ideas or writings and identifying them as your own ideas or writings. You commit plagiarism when you copy something out of a book and do not give credit to the author. You also commit plagiarism when you see something in a book, change a few of the words and pass the work off as your own without any credit to the author.

Plagiarism is unacceptable in the workplace and it is unacceptable in this course.

Avoiding plagiarism is easy -- always credit any sources that you use when writing.

In the text of your work, identify the author of the publication and the year the work was published. In the reference section of your paper, you include the entire reference – author’s name, year of publication, title of publication, page(s) of publication, publisher name and city (if a book) and journal title / volume and issue number (if a periodical or newspaper).

Anyone who commits plagiarism will receive an “F” for that assignment – that is both the person who plagiarized and the person s/he plagiarized from, if that individual is a student in this class.

To avoid plagiarism, use the following formats for references:

References

Please use the following guidelines for formatting references in your written work. These guidelines are adapted from the Publication Manual of the American Psychological Association (4^th edition), published by the American Psychological Association in Washington D.C. This publication is often referred to as the APA Manual of Style.

If you use direct quotes or ideas from the case studies or another source, you need to tell readers that in actual body of the text of your paper. You can do that in two ways: The author of the source and year the source was published must appear in the text of the paper, following the idea from that source. Example:

the text of your paper….At the turn of this century, carbonated soft drinks accounted for 41.3% of total non-alcoholic beverage consumption (Yoffie and Wang, 2002).

Then, include the complete reference for the source at the end of the paper on a special reference page (alphabetized by author), as in the following example:

REFERENCES

Yoffie, David and Wang, Yusi. (2002). “Cola wars continue: Coke vs. Pepsi in the twenty-first century.” Boston, MA: Harvard Business School.

Guide for referencing an article published in a journal

Nolinske, T., & Millis, B. (1999). Cooperative learning as an approach to pedagogy. American Journal of Occupational Therapy, 53(1), 31-40.

Author(s). Period. (year published or written in parentheses). Period. Title of article or publication using sentence style. Period. Name of the journal, in italics. Period. Volume number in italics. Comma. Issue number in parentheses. Comma. Page numbers. Period

Guide for referencing a book chapter.

Nolinske, T.L., Harlow, M.L, & Russ, J.C. (1989). Orthotic management of the neurologically involved upper and lower limb. In P.R. Meyer (Ed.), Surgery of Spine Trauma (pp. 305-340). New York: Churchill Livingstone, Inc.

Author last name and initials. Period (year published in parentheses). Period.

Title of book chapter using sentence style. Period. Name of editor (with the

abbreviation for editor, Ed., in parentheses). Comma. Title of the book (pages of

book chapter in parentheses). Period. City, state in which publisher is located.

Colon. Name of publishing company. Period.

Guide for referencing a book:

Bartol, K. M. & Martin, D. C. (1998). Management. Boston, MA: Irwin McGraw-Hill.

Author last name and initials. Period. (year published in parentheses). Period. Book title in italics. Period. City, state in which publisher is located. Colon. Name of publishing company. Period.

Guide to referencing an Internet site

TNI Consultants in Professional Development (www.tniconsultants.com). Evaluation page. 2000.

Name followed by complete address of website in parentheses). Period. Title of page you are referencing. Period. Year website of website (usually found at bottom of web page). Period.

Your level of participation will be assessed according to the following guidelines:

Excellent Consistently contributes relevant ideas and thoughts during discussion

A Adds value to discussion through experiences or found resources

Actively engages in participation during brainstorming or small group work Initiates research or information gathering to support ideas

Good Contributes meaningful ideas and thoughts during discussion

B Actively engages in participation during brainstorming or small group work

Fair Sporadically contributes ideas and thoughts during discussion

C Participation during brainstorming or small group work must be sought after; Two unexcused absences from class

Poor Infrequent or no contributions of ideas and thoughts in discussion

D Monopolizes class time with incorrect or inappropriate information

No participation during brainstorming and small group work

More than two unexcused absences from class

Failure Takes up space in class but rarely says anything

F

Explanation of Evaluation and Grading

Letter and

Numeric Grades Standards

A 93 - 100

A- 90 - 92

Excellent 1. Responds fully to task; 2. Completes task on time; 3. Is clear and succinct; 4. Is directed toward specific purpose or goal; 5. Begins and ends in a meaningful way; 6. Provides relevant supporting arguments, evidence, examples and details; 7. Correctly acknowledges and documents sources, as appropriate; 8. Is free of errors in grammar, punctuation, word choice, spelling, format and style; 9. Is well organized; 10. Applies information learned in a new way; 11. Shows consistency and excellence throughout; 12. Shows originality and creativity; and 13. Goes beyond the scope of the assigned task.

B+ 87 - 89

B 83 - 86

B- 80 - 82

Good Fully and completely addresses at least seven of items of 1-10 above while incompletely addressing the remaining three items.

Fewer than five errors in punctuation, grammar, spelling, sentence structure, word selection, syntax, capitalization; Demonstrates solid understanding of material but does not address items 11-13 above.

C+ 77 - 79

C 73 - 76

C- 70 - 72

Fair Adequately addresses at least five of items 1-10 above but does not address the remaining five items; does not address items 11-13; Contains major errors in developing concepts, themes, or main ideas. Contains improper grammar, word choice, punctuation, spelling, format and style. A "C" paper may be creative but this does not make up for poor or careless writing. Needs help in content or writing; A "C" paper looks and reads like a second draft.

D 69 - 65 Paper reads like a first draft and sporadically addresses items 1-

Poor 10 above; So many errors that it’s difficult to identify key points. Needs help in both writing and content

F 64 and below

Failure Ignores most or all of elements of items 1-10 above. An "F" paper does not respond to the task in any meaningful or organized way.

Written Communication Checklist

KEY: A = excellent

B = good

C = fair, need improvement in content or writing

D = poor, need help with writing and content

F = failure

GRAMMAR COMPOSITION

¨ Syntax .. Clarity

¨ Spelling ¨ Organization and

Development

¨ Punctuation

.. Originality

¨ Capitalization

.. Style

¨ Word Usage

¨ Sentence Structure

¨ Legibility

Glossary of Terms

Syntax the way in which words are put together to form phrases

and sentences

Spelling words spelled correctly; please proofread!

Punctuation punctuation used according to rules of grammar

Capitalization words capitalized according to rules of grammar

Word Usage select the most meaningful word for the job; use a variety o words and use them appropriately, according to the rules of grammar

(e.g., pronouns, conjunctions, adverbs)

Sentence Structure use complete sentences; diversify sentence structure by using

appropriate language, clauses and descriptors

Legibility typed clearly according to prescribed format

Clarity content conveyed succinctly; themes and ideas are clear

Organization & work includes introduction, explanation, conclusion, as

Development appropriate; logical sequence; similar concepts clustered

Originality work reflects understanding and synthesis; student contemplates, poses, supports arguments and expresses thoughts in own words

Style work flows from beginning to end; readable, understandable;

written in active, not passive voice in accordance with manual of style