welcome to mgt 3783 built by stambaugh/2009 jeff stambaugh dillard college of business/rm 257a...
TRANSCRIPT
Welcome to MGT 3783
Built by Stambaugh/2009
Jeff StambaughDillard College of Business/Rm 257A
[email protected]://faculty.mwsu.edu/business/jeff.stambaugh
My BHAG* for This Course*Big Hairy Audacious Goal
Built by Stambaugh/2009
■ You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable undergraduate course
Introductions
Built by Stambaugh/2009
■ A little about me■ PhD from Texas Tech in
strategy/entrepreneurship■ BSAE from USAF Academy, ■ night-school masters, 1 yr Harvard fellowship■ 24 years of flying jets and management positions
■ A little about you (my assumptions)■ You’re busy■ You’re interested in business■ You’re excited about your future
Quick Look
Built by Stambaugh/2009
■ Five years from now do you see yourself owning / operating a business?
■ Ten years?
Brief Introductions
Built by Stambaugh/2009
■ Name■ Major■ Expected Graduation■ What do you want to do upon graduation■ One “fun fact” about you
And then fill out the information sheet (and the questions)
What is Entrepreneurship?
Built by Stambaugh/2009
■ Uncertainty■ Adjustments■ It depends■ It’s everything!
Why Study Entrepreneurship?
Built by Stambaugh/2009
■ You have always wanted to be an entrepreneur■ Skills are useful across the board … especially for
the future■ You may end up as an entrepreneur even though
you didn’t expect to■ Jeff Hawkins: Inventor of the PalmPilot (started
Handspring) clip
What You Will Learn
Built by Stambaugh/2009
■ What is an entrepreneurial opportunity and how can you generate one
■ How to evaluate feasibility of an opportunity■ How to plan and establish a new venture■ How to resource that new venture
■ Communication skills paramount!
Syllabus Review
Built by Stambaugh/2009
■ Course web page and WebCT is vital■ Communications—make sure I can email you■ Course overview
■ Lots of hands-on stuff!Lots of hands-on stuff!■ Big Ideas:
■ Idea Generation■ Feasibility■ Planning■ Finances
Culminating Point
■ Business plan project with a real world venture■ The entrepreneur will evaluate your plan
Built by Stambaugh/2009
One Last Point
Built by Stambaugh/2009
■ “Why are you here?”■ So, why are you here?
My BHAG* for This Course*Big Hairy Audacious Goal
Built by Stambaugh/2009
■ You will consider this your most enjoyable course upon graduation, and five years from now you will consider it to have been your most valuable undergraduate course
What is Entrepreneurship?
Built by Stambaugh/2008
From Katz & Green 2e
Types of ENT Ventures
Built by Stambaugh/2008
From Katz & Green 2e
Distinctiveness
Built by Stambaugh/2008
From Katz & Green 2e
What is Success
Built by Stambaugh/2008
■ Yourself■ Family■ Firm (Investors)■ Community
Innovation = New Combination
Built by Stambaugh/2008
■ New product or good■ New method of production■ New market■ New materials■ Overall industry reorganization
Creative Destruction: Out with the old and in with the new!
What do you get when you combine?
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Skateboard Snow-covered Hills
You Get
Built by Stambaugh/2008
What do you get when you combine?
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Business Jets Time-Share Concept
You Get
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What do you get when you combine?
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Flea Market Internet
You Get
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New Combos = Value
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■ Think “Customer Value,” not features!■ How did each of these new combinations create
value for the customer■ More radical = more convincing (legitimacy)
E’s Speak on Innovation
Built by Stambaugh/2008
■ Alison Gerlach (Serial Ent) clip
■ Arcadia Kim (EA COO / Game Designer) clip
E Firm Success
Built by Stambaugh/2008
■ The Story of Eclipse clip
Firm Success is ƒ ( Quality of Opportunity + Quality of Execution) Firm Success is ƒ ( Quality of Opportunity + Quality of Execution)
Class Takeaways
Built by Stambaugh/2008
■ Many different types of Ent businesses■ Different characteristics / needs
■ New combinations at heart of innovation■ Success = Idea + Execution