Entrepreneurship Syllabus

2016 Fall Semester

Entrepreneurship
2016 Fall Semester
Professor:
Kevin (Kyungho) Kim
Monday/Thursday: 1:30pm-2:45pm
Class Room: Dasan Hall 111
Course Overview:
Compared to existing established companies, venture companies contribute to vitalizing an economy
by creating new products and services or leveraging existing products and services in different
innovative ways. The importance of entrepreneurial company has increased a lot since 1995 in Korea,
as well as around world. Nonetheless, there has been still lack of systematic classes so many venture
companies failed to start their business and survive in their competitive markets. This class is
designed to help undergraduate students increase their understanding in starting and growing their
new ventures. This class deals with entrepreneurial processes such as embodying new idea,
recognizing opportunity and potential market, business planning, financing, building powerful
entrepreneurial team, the growth of entrepreneurial company, and other issues related to
entrepreneurial process. In specific, we focus on teaching primary concepts and tools necessary to
understand entrepreneurial process and then on writing a business plan. A concise, well-written
business plan is the best way to communicate with customers, investors, and other stakeholders in
question. To increase the efficiency of this class, students are required to read assigned book chapters
and sub-materials, analyze cases, actively participate in class discussion as an individual or a team,
and do a semester-long project (i.e., writing a business plan). To additionally increase indirect handson knowledge about entrepreneurial process, we will invite guest speakers who already made a big
success.

Course Object:
Through this class, you will learn the entrepreneurial process and be ready for getting into a new
venture. The primary specific objective of this class is recognizing and shaping opportunity, financing
and acquiring resources, and building founding team. The followings are specific goals:
Recognizing (Searching) new venture opportunities
Evaluating the feasibility of a new venture
Writing a business plan leading to a successful startup of venture company
Building a founding team
1

Entrepreneurship Syllabus

2016 Fall Semester

Class Type and Preparation:

This class uses various teaching methods such as lecture, case analysis, discussion, and presentation.
For high performance in class: First, come to class prepared. Come prepared having read assigned
chapters and cases. Tips for the preparation: Please, think about what these mean to you and your
entrepreneurial companies. With respect to the preparation of cases, come with your own answers to
the fundamental questions asked at the end of each Reading Chapter or CASE. Second, take risks in
class discussion, given that your class participation contributes to the quality of this class. Dont be
afraid to disagree with your classmates, our guest speakers, or even with me. Last, Be clear and direct
in communicating your written and oral work.A concise, well-written assignment and a clear
presentation are the best way to transfer your work to the stakeholders, as well as your classmates.
Folks, why not be entrepreneurial in this class!!!
Although voluntary participation is strongly recommended, for effective class participation, you will
be randomly cold called in class under the assumption that you are prepared. If you think you are
extremely shy, it is recommended to use promised call system. Namely, if you want to be called in
class, please email me at least one day before the expected class. Your participation grade will be,
whether voluntary or cold call, graded on the basis of the quality of your comments. Being not
prepared will count against your participation grade. Being Wrong will not hurt your grade but will
also not help out.
This class also asks you to make a team for the term project. Each team is supposed to do two primary
things: a) CASE analysis and presentation and b) Term Project Presentation (i.e., Writing Business
Plan). Based on performance of each area, your team will be graded. Please refer to the following
grading criteria for each item.

Required Qualifications:
This class is designed higher than sophomore students in Business Administration, E-Business, and
other academic areas, especially students who have high ambition to open their own business.
Students from other areas or who didnt take pre-required courses need to meet me for permission
before the class begins.

Entrepreneurship Syllabus

2016 Fall Semester

Course Materials:
Required Book: Entrepreneurship, William Bygrave & Andrew Zacharakis (2 nd Edition,
2011, ISBN-13: 978-0470450376), John Wiley & Sons, Inc

Optional Book:
Entrepreneurial Small Business, 3rd Edition (2013, ISBN-13: 978-0078029424),
Mcgraw-Hill, Jerome A. Katz and Richard P. Green
Entrepreneurship: Successfully launching new ventures, Bruce R. Barringer and R.
Duane Ireland (4th Edition)

Grading:
Grading is precisely based on performance in the following areas. Each assignment submitted late
will be reduced 1/2 a grade per day late. For example, you will receive a B- one day after you
submit your assignment

Assignments

Relative Ratings

Mid-Term

30%

Participation

Details
Written Test (Choice-, Short-, LongAnswer, Description Types)

30%

Contribution in class

Team Case

10%

Term Project

30%

Quiz (Bonus)

Maximum 5 Scores

Final Presentation and Business Plan

Bonus points. Bonus Quiz will be

executed if necessary

Entrepreneurship Syllabus

2016 Fall Semester

Class Schedule (Monday/Thursday: Class D, 1:30pm -1:45pm):

(Note that the course schedule is subject to change if necessary)
Week 1:
Session 1-1:
INTRODUCTION & COURSE OVERVIEW (Thursday-Sept. 1)
Note: This class will ask you to make a team for CASE analysis and Team Project during the semester
!!!
Session 1-2:

What Is Entrepreneurship? Introduction of Entrepreneurship (Thursday-Sept. 1)

Read Chapter 1(page 1-35) of Bygrave and Zacharachis Book
Class Preparation Questions
1. Think about what characteristics an entrepreneur has (Prepare your own
questions)
2. What are important to successful entrepreneurs?
3. What world-changing industries or opportunities do you see developing over
the next 5 to 10 years? How about your country?
4. What innovations or new technologies will drive these world-changing
opportunities?
5. Which regions of the world have the greatest potential for developing these
opportunities? Which are you most interested in?
6. What skills do you need to develop to take advantage of these opportunities

Week 2:
Session 2-1:

Entrepreneurial Process (Monday- Sept. 5)

Read Chapter 2 (page 49-69) of Bygrave and Zacharachis Book
Please read this Chapter with the aim of understanding the general process of
entrepreneurial process, i.e., from embodying innovative idea to starting new
firms. This Chapter provides an overview of this course.
Class Preparation Questions
1. What life events might trigger your entrepreneurial career?
2. What ideas do you have for a new business?: what ideas can you draw from
your past work experience; what ideas can you draw from your familys work
experience?
3. Which of your personal attributes will most help you succeed as an
entrepreneur?
4. Which attributes do you think you need to further develop?
5. Who are your entrepreneurial role models? Can you foster any of them into
mentors?
6. Is your idea an opportunity? Why?
7. Does the timing matter in launching your venture?
8. What are some cost-effective ways for you to get started?

Session 2-2:

CASE Analysis (Thursday- Sept 8)

Entrepreneurship Syllabus

2016 Fall Semester

Read CASE: Malincho in Chapter 1 (page 36-48) of Bygrave and Zacharachis Book
CASE Preparation Questions
1. Apply the Timmons entrepreneurship framework (entrepreneur-opportunityresources) to analyze this case. Pay attention to Kalins traits and how he
gathered resources for his venture.
2. What business models are open to a food-product importer? What steps
should Kalin take to position his company for the next phase of early-stage
growth?
3. Imagine you are a potential investor and Kalin has just given you his rocket
pitch. What are your concerns? Would you help him out?
Week 3: No Class (Sept. 12) Due to Thanksgiving Day

Week 4:
Session 4-1:

Entrepreneurial Opportunity (Monday- Sept 19)

Read Chapter 3 (page 83-109) of Bygrave and Zacharachis Book

Class Preparation Questions

1. Reflecting what we learned in Session 1-2, think about what your passion is.
Can your passion be a platform for a viable opportunity
2. What do your friends and family envision you doing? What strengths and
weaknesses do they observe? How do their insights help lead you to an
opportunity that is right for you?
3. What ideas do you have for a new business? How can you multiply the
stimuli around these ideas to enhance them and identify attractive
opportunities?
4. Put several of your ideas through the opportunity checklist in Figure 3.10.
Which ideas seem to have the highest potential?
5. Lets think about market testing (example, using Survey Question to seek
potential customers will be one of good methods; For your Team Project,
think about using this method)
Session 4-2:

CASE Analysis (Thursday- Sept 22)

Read CASE: Jim Poss in Chapter 3 (page 110-123) of Bygrave and Zacharachis
Book
CASE Preparation Questions:
1. Apply the Timmons entrepreneurship framework (entrepreneuropportunity-resources) to analyze this case.
2. Discuss Jim Poss fund-raising strategies. What other options might
be considered for raising the funds SPC needs? Is this a good
investment?
3. Discuss the growth strategy. What additional markets should Poss
pursue?
5

Entrepreneurship Syllabus

2016 Fall Semester

4. Prepare at least 2 questions and then ask them in class that your
team thinks other classmates should know and take out

Week 5:
Session 5-1:

Business Model (Monday- Sept. 26)

Read Chapter 4 (page 126-148) of Bygrave and Zacharachis Book
Class Preparation Questions
1. Why do I need to engage in business modeling when I can build my
product, demo it, and get funding without ever doing a revenue
forecast?
2. Describe your business model. What are your primary sources of
revenue? What are revenue drivers? What are your COGS? What are
your operating expenses?
3. What is your entry strategy? How does this create a platform for your
business to grow?
4. What is your growth strategy? How big do you want your firm to be?

Session 5-2:

Business Model (Thursday- Sept. 29)

Read CASE: Adam Aircraft in Chapter 4 (page 149-165) of Bygrave and
Zacharachis Book
CASE Preparation Questions
1. What is Adam Aircrafts business model?
2. Do you believe that Rick Adam can bring a new aircraft to market for
so much less than conventional wisdom says it should cost?: what are
the factors that are critical to the success of Adam Craft?; which of
those factors are the biggest risks?; what can he do to control those
risks?
3. If you were a potential investor, how would you compare the
potential risks and rewards from an investment in Adam Aircraft with
an investment in Jim Poss company
4. Prepare at least 2 questions and then ask them in class that your
team thinks other classmates should know and take out

Week 6:
Session 6-1 (Monday- Oct. 3): No Class due to National Holiday
Session 6-2 (Thursday- Oct. 6): Idea Presentation for Team Project

Week 7:
Session 7-1:

Entrepreneurial Marketing (Monday-Oct. 10)

Entrepreneurship Syllabus

2016 Fall Semester

Read Chapter 5 (page 167-188) of Bygrave and Zacharachis Book

Read CASE: College Coach in Chapter 5 (page 189-197) of Bygrave and
Zacharachis Book
Class Preparation Questions
1. How do you learn about your customer?
2. What secondary sources can you use?
3. What primary data will you collect?
4. How do you segment your market? Whos your PTA? Who are your
STAs?
5. How will you price your product (or service)?
6. How will you distribute product (or service)?
7. What channels are available? Which channels are best? When will
you add new channels?
8. What is your marketing communication strategy? What mix of
advertising, PR, personal selling, and direct marketing is most
effective?
9. What guerrilla tactics can you use to create a buzz? How will you get
your products buss to be heard above the noise?
10. Articulate what you would like your brand to be. How will you build
it during launch? During growth?
CASE Preparation Questions
1. How many of you have used various services to enhance your
chances of getting into the school of your choice (e.g., Ajou School
of Business), whether transfer or direct entrance?: what types of
services?; what was their value to you?
2. The partners were finding it difficult to service all three business
models they had identified. If they chose to pursue two markets,
which would be most complementary? What are the advantages and
disadvantages of each business model? Consider lead generation
potential, PR opportunities, and account servicing logistics.
3. What type of location should they choose, and how will their choice
affect their marketing strategy? If the partners feel that there is a real
possibility that a large potential partner such as Kaplan will continue
to show interest, should this have an impact on their location and
marketing decisions?
4. Is College Coachs strategy well defined?
Prepare at least 2 questions and then ask them in class that your
team thinks other classmates should know and take out
Session 7-2:

Building Founding Team (Thursday Oct. 13)

Read Chapter 6 (page 199-221) of Bygrave and Zacharachis Book
Read CASE: Ajay Bam in Chapter 6 (page 222-233) of Bygrave and Zacharachis
Book
Class Preparation Questions
1. What are your three strongest attributes?
7

Entrepreneurship Syllabus

2016 Fall Semester

2. Talk to a close mentor and ask what he or she sees as your strengths.
Do these match the attributes you identified above?
3. What skills do you need to develop prior to launch? What skills can
you develop during the launch and early stages of your company?
Create a plan to develop those skills
4. Create an organization chart of your venture. Show positions to be
filled immediately and those to be filled later (along with the dates of
filling those positions). Create a staffing plan based on your
organization chart.
5. Think about the types of employees youd like to hire. What kind of
values are you looking for? Remember, this is the point at which you
create your companys culture.
CASE Preparation Questions
1. What traits does Ajay exhibit that have helped him to get his far?
2. Imagine you are a potential investor. Ajay has just given you his
rocket pitch. What are your concerns? Would you invest?
3. What will Ajay have to do to get funding?
4. If Ajay decides to move forward, what more can he do to build
credibility and improve his chances of securing venture capital?
5. Prepare at least 2 questions and then ask them in class that your
team thinks other classmates should know and take out
Note: Midterm Review with me; For your midterm, review readings from semester-to-date

Week 8 (Session 8-1 and 8-2):

No Class due to MIDTERM (Oct. 17 and Oct. 20) !!!

Week 9 (Session 9-1 and 9-2):

Time for TEAM Project (Meeting with Faculty on demand)
(Oct. 24 and 27)
Note: If you need to consult with me, please use office hour. To avoid time conflict with
other teams, email me and make an arrangement!!!

Week 10 (Session 10-1 and 10-2): Presentation of Marketability of Team Project (Oct. 31 and Nov.
3)
Week 11:
Session 11-1:

Developing Business Plan (Monday- Nov. 7)

Read Chapter 7 (page 235-260) of Bygrave and Zacharachis Book
Class Preparation Questions
1. What data have you gathered about your opportunity?; what do these
data suggest as far as reshaping your opportunity?; what new
questions do they raise, and who should you talk to in order to
answer these questions?
8

Entrepreneurship Syllabus

2016 Fall Semester

2. Who have you shared your vision with?; who have they referred you
to?; what new learning have gained from these conversations?
3. What is your tagline of your business plan?
4. Does your executive summary have a compelling hook?
5. Does your business planning process tie together well? Do you have
a compelling, articulate story?
Session 11-2:

CASE Analysis (Thursday-Nov. 10)

Read CASE: Pkolino in Chapter 7 (page 261-304) of Bygrave and Zacharachis
Book
CASE Preparation Questions
1. Does the business plan tell a coherent and compelling story?
2. Does the plan capture all of the learning that Antonio and JB have
accumulated?
3. What three questions do you think Antonio and JB need to answer through
further planning before they launch the venture?
4. What are the three strongest aspects of the plan?
5. What areas need improvement?

Week 12:
Session 12-1:

Financing for Starting and Growing Businesses (Monday- Nov. 14)

Read Chapter 10 (page 379-411) of Bygrave and Zacharachis Book
Class Preparation Questions
1. How can you bootstrap your venture? What services can you get for free or at
reduced rates?
2. Think about how you will gain access to angels and venture capitalists. Who
can make introductions on your behalf?
3. What valuation method makes the most sense for your company? What
comparable companies can you refer to as you prepare your valuation?
4. Imagine your harvest. What companies might likely acquire you? How can
you prepare for that future acquisition?
5. Is there a possibility that your company could go public (high-growth
industry)? What do you need to do to prepare for that?

Session 12-2:

CASE Analysis (Thursday- Nov. 17)

Read CASE: BladeLogic in Chapter 10 (page 412-420) of Bygrave and Zacharachis
Book
CASE Preparation Questions
1. Discuss the risks and challenges of building an enterprisesoftware firm
when there are numerous large competitors. What was unique about
BladeLogics approach to customer engagement?
2. Given the well-articulated customer pain by Goldman Sachs and Sony, why
was BladeLogic having trouble closing large deals?
9

Entrepreneurship Syllabus

2016 Fall Semester

3. Should Dev retain his VP of Sales? What are the risks of replacing his VP of
Sales now?
4. What options does Dev have, given BladeLogics looming illiquidity? What
are the pros and cons of each option?
5. Prepare at least 2 questions and then ask them in class that your team
thinks other classmates should know and take out
Week 13:
Session 13-1:

Entrepreneurial Growth and CASE Analysis (Monday-Nov. 21)

Read Chapter 14 (page 531-553) of Bygrave and Zacharachis Book
Class Preparation Questions
1. What are your personal growth objectives for your venture? Is your firm a
high-potential venture?
2. What will your role within the company be at various stages of growth? Do
you want to remain the CEO?
3. What skills will you need to develop as the company grows to satisfactorily
fulfill the roles you aspire to? Which skills might need further education or
other outside development?
4. What kind of controls can you establish early in your ventures life? How will
these help you manage cash and other key components of your business?
5. What should your company outsource or make? Why? How do you protect
your competitive advantage?
6. What is your strategic focus for early growth? What are your organizations
key resources and capabilities?

Session 13-2:

CASE Analysis (Wednesday-Dec. 24)

Read CASE: Lazybones in Chapter 14(page 554-562) of Bygrave and Zacharachis
Book
CASE Preparation Questions:
1. Should Dan grow Lazybones or maintain it as a lifestyle business?
2. If he chooses growth, is franchising the best way forward?
3. What are the advantages and disadvantages of franchising versus other means
of growth?
4. Lay out a five-year plan for growth at both the corporate and the individual
location levels (i.e., show how you can increase revenue per store).
5. Prepare at least 2 questions and then ask them in class that your team
thinks other classmates should know and take out.

Note: Session 14-1 and 14-2 can be flexibly changed depending on the specific purpose
over the course!!!
Week 14: Time for TEAM Project (Meeting with Faculty on demand) (Monday and Thursday- Nov.
28 and Dec. 1)
10

Entrepreneurship Syllabus

2016 Fall Semester

Note: If you need to consult with me, please use office hour. To avoid time conflict with other teams,
email me and make an arrangement!!!
Week 15 (Session 15-1 and 15-2): Final Team Presentation (Monday and Thursday-Dec 5 and 8)

Hard copies of final team project should be handed out in class on your
presentation day, and Electronic file should be sent me via email before your
presentation day!!!!
Week 16 (Session 16-1 and 16-2): Final Exam (Monday and Thursday-Dec 12 and15)
Final Exam will be substituted by Team Project.

Tips for the Success in This Class:

This class asks you to work in a team from narrowing down your original idea to pitching
your idea to a panel of entrepreneurs. Your team can use a wide range of methods and
tools which will be provided throughout this class: researching the market, speaking with
potential customers, using networks or alumni, utilizing secondary and primary data, and
even creating a sample product (if possible). Your team needs working together to refine
and improve the idea for the rest of the class, having the term project ready for doing
business.

To guarantee a good grade in class, you need to attend class and actively engage in class
discussions.

Considering that higher than sophomore years are a complex time, we can excuse two
absences during the term. Unexcused absences, however, will hurt your participation
grade. Thus, each subsequent missing class will subtract 2 points from your Final
Grade.

Please download Name Card from the web-site and then fill it out with your name.
Dont forget bringing your Name Card into the class. It will be better for us or our guest
speakers to learn your names.

Take advantage of Time for Team Project to develop your team project, which is
scheduled after mid-term exam.

Efficiently use Office Hours with me for Team Project or whatever you have in mind to
ask. To avoid time conflict with other teams, please email me first to make an
arrangement.

Note: For the first class, bring your Name Card into class. Thanks!!!

11