Business: Entrepreneurship 588 Section 001
Entrepreneurship and New Ventures
Instructor: Dr. Richard C. Becherer
Office: Fletcher 400-D
Hours: Wednesday and Thursday 1:30-3:30pm
Tuesday 2-5:00 pm
Timmons, Jeffrey A., and Stephen Spinelli, New Venture Creation: Entrepreneurship for the 21st Century, thIrwin, 7 Edition, 2006.
It has been said that the difference between managers and entrepreneurs is that managers are “resource
driven”, whereas entrepreneurs are “opportunity driven”. Within the broadest definition entrepreneurs are
found throughout the world of business, for any firm if it is to survive and prosper must have some
measure of Entrepreneurial drive. The start-up process is a special phenomena. It is this new venture
start-up entrepreneurial process that is the focus of this course, although we will also trace the
Entrepreneurial Phenomena through growth and on to harvest.
This course is designed to investigate the entrepreneurial process from a variety of perspectives. The
primary focus is the activities that occur from conception to the birth of a new venture.
Included as special topics are such things as: the personal attributes of entrepreneurs, how to search and
identify opportunities, screening opportunities, developing a business plan, assembling the resources
required to start a business, and the legal and contractual issues associated with new business, rapid
growth, harvest, and bankruptcy.
The course is designed to acquaint students with the entrepreneurial phenomena descriptively and also
allow them to experience and grapple with issues faced by a new venture.
COURSE SKILLS AND COMPETENCIES
a. Communicate effectively in oral and written form
b. Use modern technologies as one tool to effectively learn and communicate
a. Understand group dynamics and become a contributing team member
b. Understand and appreciate the impact of demographic and cultural diversity
a. Understand the impact of the international dimension on business decisions
b. Understand the political, legal, and social environment in which business operates
D. Problem Solving
a. Recognize problems and opportunities, and be able to think critically
b. Analyze data and possess proficiency in the use of data
c. Integrate functional areas of business when analyzing problems
E. Accountability and Ethics
a. Appreciate how ethical considerations enter into business decisions
b. Develop expertise in an area related to career choice
The course will be structured in a lecture/discussion format with a maximum of two-way communication.
Students are expected to be prepared for each class session and contribute to the class discussion.
While a variety of readings and assignments are indicated in the attached course schedule, additional
readings or handouts will also be distributed to the students. These supplemental materials are an integral
part of the course and are required readings for all students.
COURSE REQUIREMENTS: The primary focus of the course is the business plan that will be required of all students. Two
examinations will also be administered to assess the students’ retention of the material in assigned
readings or handouts. Additionally, student participation in discussion will be a major portion of the grade.
In order to meet the course objectives and the requirements of the course, students have several
responsibilities: 1. Assigned material must be read on schedule and assignments must be carefully completed on
2. Students must attend class regularly and participate in class discussion.
3. Students should attempt to stimulate class discussion by bringing in examples, incidents,
experiences, and material found in everyday business life or the business press. Regular
attention to such things as the Wall Street Journal, Business Week, or other media will be
Examinations may contain some objectives questions, short answer questions, discussion questions, or
Business Plan Projects will be group projects with groups of 2-3 people. There are several aspects of the Business Plan Projects that will be evaluated:
A. Preparation and Presentation of Venture Opportunity Screening Exercise (Written and Oral)
B. Written Business Plan
C. Oral Presentation of Business Plan
Case Analysis is a primary aspect of each class session. Students are expected to read each case and
prepare some notes for use in class discussion. Notes are turned in at the beginning of each case
discussion and may not be turned in late.
Class Participation is based upon the quality and quantity of the student input. It is a subjective evaluation, but clearly such things as attendance, willingness to participate, and bringing outside material
to the class all elevates the participation grade. Students have the opportunity to participate during all
discussion, case, and exercise sessions.
Peer Evaluation is designed to get input from your group members on your performance in the business plan project.
Exam I 100 22%
Exam II 100 22%
Class Participation 40 10%
Case Notes 60 13% Business Plan Project
Written Plan 75
Oral Presentation of Plan 25
Peer Evaluation 50
150 33% TOTAL 450 100%
COURSE POLICIES: 1. Exam make-ups will only be given in extreme circumstances and must be arranged in
2. No extra credit assignments.
3. Assignments submitted late will have points deducted.
SESSION DATE TOPIC CHAPTERS ASSIGNMENT
1 1/9 Introduction Chapter 2
Entrepreneurial Revolution and Process
2 1/16 Entrepreneurial Process Chapter 3 Form Teams
3 1/23 New Venture Ideas Chapter 6 CASE: Kurt and
The Business Plan John Bauer p. 98
4 1/30 Opportunity Recognition and Screening Chapters 4-5 Creative Exercise
– Handout in
5 2/6 The Entrepreneurial Mind/ Manager Chapters 1, 7 Screening
The Entrepreneurial Team Exercise p. 115
6 2/13 Franchising and the Internet Chapter 8 CASE: Burts Bees
7 2/20 Ethics Chapter 9 Ethics exercise
8 2/27 Chapters 1-9 MID TERM EXAM (Good Luck!)
9 3/6 Resource Requirements Chapter 10, 12
3/13 SPRING BREAK
10 3/20 Venture and Growth Capital Chapters 13-15 CASE: Bluegrass
Debt Capital Wedding Center
11 3/27 The Deal Chapters 14, 17
12 4/3 Growth, Trouble & Harvest Chapters 16, 18, CASE: Midwest
13 4/12 Hall of Fame
14 4/17 Business Plan Presentations-10 Written Business
Minutes Max Plans due in class
15 4/24 FINAL EXAM (Good Luck!!) Chapter 10, 12-
Students with Disabilities -
Attention: If you have a disability that may require special assistance or accommodations, or
you have questions related to any accommodations for testing, note takers, readers, etc., please
speak to your professor as soon as possible. Students may also contact the College Access
Program Office (425-4006) with questions about services offered to UTC students with qualified