MGRL 194-04

Survey of
Entrepreneurship

Spring, 2011

Managerial Studies Program, College of Arts & Science

Vanderbilt University
Nashville, Tennessee

Faculty:

Joseph J. Rando
Adjunct Professor of Managerial Studies

MGRL 194: Survey of Entrepreneurship. Vanderbilt University. Rando Page 1 of 8

 MANAGERIAL STUDIES
VANDERBILT UNIVERSITY
COURSE SYLLABUS, SPRING SEMESTER, 2011

MGRL 194: Survey of Entrepreneurship

Location: Wilson 115

Dates: Thursdays: January 13 – April 21, 2011

Class Time: 3:10 PM – 5:40 PM

Instructor: Joseph J. Rando - Adjunct Professor of Managerial Studies

Office: Managerial Studies Departmental Office - 315 Keck FEL Center

Office Hours: By appointment

Phone: 615-948-7776 (Cell—for emergencies only. Please use email normally.)

E-Mail: Joseph.Rando@Vanderbilt.edu (Web: www.vanderbilt.edu/managerialstudies)

TAs: David Lewin david.a.lewin@vanderbilt.edu

Meagan King meagan.e.king@vanderbilt.edu
Alex Kurtz alex.j.kurtz@vanderbilt.edu

ABOUT THE INSTRUCTOR

Mr. Rando has spent his career working in entrepreneurial ventures. From pure
entrepreneurial start-ups to high-growth entrepreneurial corporations, his experience
spans three decades and includes industries such as computer software, high-tech
consulting, market research consulting, insurance, wireless, and fast-food.

Mr. Rando has held the title of GM, SVP, COO and Founder in numerous companies. As
a business development manager at Pansophic Systems (Chicago), he saw how
entrepreneurship works inside of a multi-billion dollar corporation. As an early
employee at start-ups New Science Associates (Connecticut) and The Faneuil Group
(Boston), he participated in the launching and growth of new ventures. At Asurion, Mr.
Rando was head of North American operations for seven years, helping build a 50

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person/$5MM company into a global 2500 person/$500MM company. And now as the
founder of Heath Island Group, he leads a company developing commercial real estate
and operating Dunkin’ Donuts and Baskin-Robbins franchises.

Mr. Rando earned his bachelor’s degree from Tufts University (Biology) and his MBA
from the F.W. Olin School of Business at Babson College (Finance).

Mr. Rando, his wife, and three kids live in Brentwood, TN.

REQUIRED TEXT:

Entrepreneurship – 8th Edition. Robert D. Hisrich, Michael P. Peters, and Dean A.

Shepherd. ISBN: 978-0-07-353032-1. McGraw-Hill Irwin.

COURSE DESCRIPTION:

Entrepreneurship is the essence of free enterprise: new businesses give a market economy
its vitality. This course is a survey of entrepreneurial studies and prepares students for
subsequent entrepreneurship courses by developing a common understanding of the
phases of entrepreneurship and the business planning process.

Course Topics: Course topics will include:

 Entrepreneurship: Background and perspectives
 Personal Career Design – Being entrepreneurial
 Identifying New Business Opportunities
 The Business Plan: Why and how?
 Assembling Resources (team, finances, operations)
 Launching the Venture (legal entities, entry strategies, working
capital)
 Running the Business (service, quality, operations, cash
management)
 Harvesting the Rewards of a Venture

Course Format: Lecture, discussion, guest speakers, and case studies.

Definition: Entrepreneur: en-tre-pre-neur, n. an individual who takes risks

and starts something new (from the textbook). Entrepreneurs
identify opportunity, assemble required resources, implement a
practical action plan and harvest the rewards. Entrepreneurship
can be viewed as a stage through which all organizations pass in

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 their development or, alternatively, as a management style
applicable in a wide variety of organizational contexts.

Content Focus: This course is meant to be more transformational than

informational. In other words, the student will be shaped—
equipped, empowered, inspired—into an entrepreneur. Besides
preparing the student for subsequent courses, he/she will be
prepared to start a new enterprise, whether business or not-for-
profit. The principal rubric will be the Business Plan, which
expresses the entrepreneur’s thinking in a standard, organized way.

Attendance Policy: The University is committed to the idea that regular class
attendance is essential to successful scholastic achievement.
Because much of the course’s value will come from in-class
discussion, guest speakers, and case study analysis, attendance is
especially important. In cases of legitimate absence from the
class, the student has the responsibility to keep up with all class
work missed. Since this course meets only one time per week it is
essential to attend all classes. Missing classes during the semester
will adversely impact the “Attendance and Participation” element
of a student’s grade. Missing three or more classes may result in
course failure.

Laptops/PDAs: Use of electronic devices in class (laptops, cellphones, netbooks,

iphones, PDAs, etc.) is generally not permitted. When laptops are
required for in-class workshops, students will be notified in
advance of the class. Students wishing to use laptops to take notes
or students with special circumstances requiring the use of a
computer in class are asked to sit in the very front row of the
classroom for all class meetings.

Course Feedback: In the best courses, the instructor learns as much as the students. If
you have any feedback regarding how the course could be
modified to enhance the educational experience, please feel free to
provide feedback directly to the instructor. An informal course
evaluation will be conducted at mid-semester, providing student an
opportunity to shape the course for the remainder of the semester.
A formal course evaluation process will also be conducted in
accordance with University policy.

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GRADING:

662 - 700 = A Grades for in-class work will be posted in OAK prior to the next
648 - 661 = A- class and all written papers will be posted within 14 days. It is
627 - 647 = B+ the responsibility of each student to verify his/her grade in OAK
599 - 626 = B within 7 days of posting, at which time all grades become final.
578 - 598 = B-
557 - 577 = C+ Various in-class assessments 150 Points 21.5 %
536 - 556 = C (10+ in-class assessments with the 2
508 - 535 = C-
lowest scores dropped. No make-ups.)
Attendance & participation 100 Points 14 %
487 - 507 = D+
Written Paper Assignments 250 Points 36 %
466 - 486 = D
Paper 1: Entrepreneur Profile (50 Points)
< 465 = F
Paper 2: Marketing Paper (100 Points)
Paper 3: Financial Plan (100 Points)
Final Group Presentation 200 Points 28.5 %

Total Points for the Course: 700 Points 100 %

In-Class Assessments: There will be 10+ in-class assessments. These will most likely
be brief quizzes given in the first 5 minutes of class. All will be announced. Each
assessment will be an opportunity for students to demonstrate their preparation for class,
their understanding of assigned reading material, and their participation in class
discussions/guest speakers. The two lowest score will be dropped. No make-up will be
offered for missed in-class assessments including for students arriving late to class.

Attendance and Participation: Attendance will be taken at the beginning of each class
by tallying quiz completion (or by roll call). While I understand that students will have
obligations and opportunities that will result in a missed class, when I evaluate
attendance, you are either present or absent. Absences with medical approval or
university approval will not detract from the attendance grade. Participation will be
evaluated throughout each class and is a critical component of this course. The sharing
of experiences, perspectives and insights among class participants greatly leverages the
class learning. Each participant has a responsibility to their classmates as well as to
themselves to be prepared, to be present, and to participate actively in the course.
Excellent participation is demonstrated by preparation for class, involvement in case
discussions, interaction with guest speakers, and contribution to the class discussions.
Poor participation is demonstrated by lack of preparation for class, little or not
involvement in case discussions, lack of contribution to the class, and rude or disruptive
behavior in class (arriving late, leaving early, use of electronics during class, sleeping in
class, disruptive chatting in class, etc.).

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Written Papers: For each of the three written paper assignments, students are expected
to prepare a paper (double spaced, Times New Roman 12-point font, 1” margins).
Papers should include a bibliography of references used. Direct quotes and cited data
require citations. Written papers are due in hard-copy format at the start of class (3:10
p.m.) on the due date. Do not mail, e-mail, or drop off papers without prior permission
and subsequent confirmation. There will be a ten percentage point penalty for each 24-
hour period that the paper is late following the start of class on the due date. Papers may
be turned in early, but are penalized if turned in late. If you will miss a class in which an
assignment is due, it is your responsibility to make arrangements (generally, turning in
the assignment to your TA prior to the class for which it is due) and make confirmation.

Semester Project: Participants will be required to complete a semester project and

make a group presentation. This project will give students the opportunity to
demonstrate their grasp of the course content through the completion of a complete
business plan and group presentation. No final exam will be given.

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CLASS SCHEDULE (subject to change)
DATE TOPIC & ASSIGNMENT
1/13 Course Introduction
 Chapters 1 and 2
 Course Overview
 Semester Project Groups Formation
 Assign Paper 1: Entrepreneurial Profile - Thinking Like a CEO
 Due: 1/27

1/20 The Big Idea: Creating the Business Concept

 Chapter 4 and 5
 Entrepreneurship Exercise
 Detailed discussion of Semester Project; Groups/Dates Finalized
 Cases: The Beach Carrier (Text Case #6)

1/27 The Industry: Defining the Market Opportunity

 Paper #1 due
 Chapter 8, pp. 223-232
 Case: Gourmet to Go (Text Case #7)

2/3 Creating and Starting the Venture; The Business Plan

 Chapter 3, Chapter 7
 Case: Brimer Bagel (Handout)
 Visit www.entrepreneur.com and www.bplans.com

2/10 The Organizational Plan & Business Plan cont.

 Chapter 9, pp 254-268
 Case: TBD
 Assign Paper 2: Market Research Project
 Due: 2/24

2/17 The Marketing Plan & Marketing Opportunity

 Chapter 8, pp. 232-247
 Turner Test Prep (Text Case #1)

2/24 Building a Team

 Paper #2 Due
 Chapter 9, pp 268-275
 Case: The Winslow Clock Co. (Text Case #10)

3/3 The Financial Plan and Raising Capital

 Chapter 10, 11, 12 pp 332-359
 Case: Nature Bros. (Text Case #13)

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  Assign Paper #3: Financial Plan
 Due: 3/31

3/10 NO CLASS - SPRING BREAK!!!

3/17 Family Business

 Case: Shoreham Glass Co. (Handout)

3/24 In-Class Semester Project Workshop

 Bring outline of Semester Project Business Plan
 Bring computers with all Semester Project Materials

3/31 Managing Growth

 Paper #3 Due
 Chapter 13 and Chapter 14
 Case: ForemostCo (Handout)

4/7 Ethics
 Case: Shenandoah Fine Grinding (Handout)

4/14 Exiting the Business

 Chapter 15 and Chapter 12 pp. 359-371
 4 Slots for Final Presentations

4/19 Tuesday 3:10-5:40 and 4:30-7:00 Time Slot

 4 Slots for Final Presentations

4/21 Final Group Presentations

 2 Slots for Final Presentations

NOTE: 4/21/11 IS THE LAST CLASS SESSION.

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