Lincoln Memorial University

Semester: Fall 2005

Course: MGMT 440 Entrepreneurship

Time: Tuesday 4:00 – 6:50 PM

Room: DBSK 312

Revised: 8/13/05

Instructor: Donald J. McCarren, Ph.D. Office: DB 320

Telephone: 423-869-6450

Fax: 865-458-8029

E-Mail: anoulap65@aol.com

Office Hours: T 1 - 3 PM

W 10 AM – 2 PM

TH 1 - 3 PM

Description: An applied course combining the principles of management and marketing for solving small business problems and forming, operating, and maintaining entrepreneurial businesses.

Prerequisite: MGMT 300 & MKTG 300

Text: Small Business Management: An Entrepreneurial Emphasis, 13e Longenecker et al., South-Western Thompson, 2006

Course Objectives:

· To describe the entrepreneurial role in small business management.

· To describe the role of the small business as a vital economic component.

· To distinguish between entrepreneurial small business opportunity types.

· To examine location and funding approaches for an entrepreneurial venture.

· To prepare a small business marketing plan by addressing competitive advantage, product strategy, pricing strategies, promotion strategies, distribution strategies, marketing opportunity analysis and marketing research.

· To prepare a small business marketing plan by addressing organizational formation structure, managerial work strategies, time management strategies, outside assistance, human resource management strategies, management philosophy, purchasing and inventory management strategies, and technology application.

· To explain, evaluate, and prepare a small business financial plan by providing statements and financial needs and requirements, financial profitability and performance, working capital, cash flow, payable/receivable management, capital budgeting, insurance/risk management.

· To recognize and describe social and legal constraints of managing a small business.

· To build a competing entrepreneurial firm through market analysis, strategy formulation, and management of a new venture.

· To orally present the business plan to a Venture Capital firm for the purpose of securing venture follow on financing.

Suggested Readings: Suggested Websites:

Various Periodicals such as: Small Business Administrations

Entrepreneurship Theory and Practice Kaufman Foundation

The Art and Science of Entrepreneurship Start-up Journal

Journal of Business Venturing Website 101

Inc. Free Advice (Legal)

Family Business Business Town (Finance)

Entrepreneur Galante

Journal of Small Business Management

New Venture Creation, J. A, Timmons, 4^th ed., Irwin, 1994

Methodology of Instruction:

The focus of this course is on providing you an opportunity to experiment with actually starting a new business and gaining new venture experience. You will team up with three or four other students to form and build an entrepreneurial firm that will allow you to experiment with strategies, and compete with others in a virtual business world while gaining experience in market analysis, strategy formulation, and the management of a new venture.

Here is a list of activities you will perform:

· Analyze market research data;

· Design brands to appeal to different market segments;

· Devise advertising campaigns, sales force incentives, and price option;

· Allocate scarce funds to R&D, manufacturing, quality, advertising, and distribution;

· Select and prioritize R&D projects, leading to new product features;

· Negotiate strategic partnerships with competitors for new technology:

· Plan and roll out a marketing campaign;

· Initiate and defend lawsuits over false advertising;

· Schedule production and manage plant capacity;

· Manage cash;

· Negotiate equity and debt financing for new business development;

· Adjust strategy and tactics in response to financial performance, competitive tactics, and customer needs.

Course Requirements:

Attendance Counts – If attending class is a problem for YOU – Don’t take this class. Lack of on-time attendance will count against you. Similarly, if you leave before the class is over, YOU will be counted absent.

Assignments – MUST be turned in on the date assigned. YOU are responsible to get notes, handouts, assignments and other course requirement from your classmates.

Class Participation – will represent 15% of your grade. One of the goals of this course is to provoke questions, creative thought and to provide a forum for multiple points of view.

Tests – will be given at the Mid-Term and end of the semester and likely be in the form of essay style questions. The goal is to give YOU an opportunity to express your ideas and understanding of the issues involved. The Mid- Term will count for 10% of your final grade. In addition, there will be a final exam worth 15% of the final grade.

There will be a heavy reliance on case studies to reinforce and expand upon the course work presented. They will count 40% of your final grade.

The Oral Presentation of the term project will represent 10% and the written preparation will also account for 10% of your final grade.

Cases 8 x 5%	40 %
Mid-Term	10 %
Final	15 %
Term Project:
Oral	10 %
Written	10 %
Class Attendance/Participation – Incl. Homework Assignments	15 %
Total:	100 %

Grading:

The following grade scale will be utilized in this course. In order to achieve a certain level on this scale, you must obtain the score indicated.

A……………………. 94-100

A-…………………… 90-93

B+…………………… 87-89

B…………………….. 84-86

B-……………………. 80-83

C+…………………… 77-79

C…………………….. 74-76

C-……………………. 70-73

D+…………………… 67-69

D…………………….. 64-66

D-……………………. 60-63

F……………………... Below 60

NOTE: Any student with a disability requiring accommodation(s) should make an appointment with the Vice President for Student Affairs

(423-869-6393) to discuss specific needs.

NOTE: Academic Integrity (from LMU Undergraduate Catalog 2003-2004)

It is the aim of the faculty of Lincoln Memorial University to foster a spirit of complete honesty and high standard of integrity. The attempt of any student to present as her/his own any work which he/she has not honestly performed is regarded by the faculty and administration as a very serious offense and renders the offender liable to severe consequences and possible suspension.

Cheating: dishonesty of any kind on examinations or written assignments, unauthorized possession of examination questions, the use of unauthorized notes during an examination, obtaining information during an examination from another student, assisting others to cheat, altering grade records, or illegally entering an office are instances of cheating.

Plagiarism: offering the work of another as one’s own without proper acknowledgement is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical material taken from books, magazines, encyclopedias, web sources, or other reference works, or from the themes, reports, or other writing of a fellow student has committed plagiarism.

Instructor Policy on Academic Integrity: Any assignment found to violate the above university policy will be considered an F without the possibility of make-up opportunities. Continued violations will result in an F for the course.

The instructor reserves the right to make adjustments to this syllabus.

Schedule:

Date	Discussion	Assignment
8/23	Introductory Session Discussion of Course Syllabus INTRODUCTION to Case Analysis/Discussion	Read Chapters 1-2 Prepare 2-3 pg. analysis of Boston Duck Tour Case
8/30	Discuss Boston Duck Tour Case #1 Lecture/Discussion Chapters 1-2	Read Chapters 3-5 Prepare 2-3 pg. analysis of Diversified Chem.
9/6	Discuss Diversified Chem #2 Lecture/Discussion Chapters 3-5	Read Chapters 6-7 Case #6
9/13	Lecture/Discussion Chapters 6-7 Discuss Case #6	Read Chapters 8-9 Prepare Case #8 for Discussion ONLY
9/20	Discuss Case #8 Lecture/Discussion Chapters 8 + 9	Read Chapters 10-11 Prepare End of Chapter Questions: Ch. 10 (1,2,7,10) Ch. 11 (1,3,5,7a,7b)
9/27	Discuss Assigned Questions	Read Chapter 12 Prepare Questions: 1,2,3,6
10/4	Discuss Chapter 12/Questions	Read Chapters 13-14 Case #14
10/11	Lecture/Discussion Case #14	Prepare for MIDTERM
10/18	MID-TERM EXAM	Read Chapters 15-16 Prepare answers for Ch. 15 Situation #2 and Ch. 16 Situation 2-3

Date	Discussion	Assignment
10/25	Discussion of Chapters 15-16 Situation Analysis	Read Chapter 17 Case #17
11/1	Discuss Case #17 Compliment with Lecture	Read Chapters 18 + 20
11/8	Discussion/Lecture of Chapters 18+20	Read Chapters 21-22 Answer: Chapter 21 (1,3,6,9) Chapter 22 (Case #22)
11/15	Discuss Questions relating to Chapter 21 Review Case Analysis – Case 22	Read Chapter 23 Prepare Case #23
11/22	Case Discussion and Lecture
11/29	Team Meetings
12/6	Oral Presentations Discussion/Lecture	Prepare for FINAL
12/13	FINAL EXAM