Business Department School of the Professions

Course Information: Spring, 2020

Catnum: Bus. 365: Entrepreneurship Instructor: Sol. Ahiarah, PhD., CPA1., CGMA2

Call No. CRN: 1912; 3 Credits. Office: Tel.: X5339

Meeting Time: T & R. 10:50 am - 12:05 pm This course is offered in a primarily traditional, face-to-face, format. Do not take it if your work schedule or anything interferes or conflicts with the meeting times!!! It is not possible to do in-class activities at a distance. (See also the underscored, indented, requirement on page 7, below).

Office Hours: M 12:00 - 2:00 p.m.; W 3:00 - 4:00 p.m., or by appointment

Room: CHASE 342 E-mail: ahiarasc@buffalostate.edu SUNY-Buffalo State’s DOPS Policy Number: I:16:00, gives the course instructor (not the student nor anybody else) the responsibility and authority to write a course syllabus and to provide it to students and administration during the first week of the semester. Among other objectives, this syllabus is provided to comply with said policy directive. Any student who disagrees with this syllabus should not take this particular class. Since Bus.365 is also taught in this and every semester by another instructor in a different format and at a different time, the student disagreeing with the approaches and requirements enunciated here should choose the other version rather than revert to threatening this instructor to award grades based on criteria inconsistent with this syllabus. If requirements are not to apply, why would the college require that they be specified in the syllabus? This instructor’s plan for the course is what is specified here; he would change/correct only inadvertent factual errors or modify as indicated in the schedule section below. Approaching a college course thuggishly by engaging in threatening, menacing or insulting behavior is, hardly, what to expect from a college student who should, instead, be engaging in a disciplined quest for civilized knowledge, skills and abilities that are not acquired through aggression, dishonesty or disrespect of instructors. Instructors should not be anybody’s “punching bag,” in any case. College security or law enforcement might be called to intervene to maintain safety of the environment if a student is threatening it. REQUIRED RESOURCES1: (1) Creating the Enterprise by William Gartner with Marleen Bellamy (GwB) (Mason, Ohio: Thomson-Southwestern), 2009. (2) Brochure: Starting Your New Business Brochure (February 2019) http://www2.erie.gov/clerk/sites/www2.erie.gov.clerk/files/uploads/pdfs/StartingYourBusinessBrochure2132019.pdf (3) Fortune Small Business Magazine http://money.cnn.com/smallbusiness/ (4) Season Shark Tank Episodes Videos: ACCESS To Watch and Summarize Selected Season #10 Episodes of ABC TV’s “Shark Tank”. (Do not take this course if this requirement is problematic, in any way, for you) Note: ALL STUDENT’S PERSONAL ELECTRONIC DEVICES AND ACCESSORIES ARE TO BE TURNED OFF DURING CLASS SESSIONS (See “The Myth of Multitasking” article appended to the end of this syllabus). You may not use the Personal devices for any purpose during in-class exams.; only college computers are to be used when prompted by the instructor, or for your e-book during in-class comprehensive exams. This syllabus is not activated in Blackboard; it is, instead, easily accessible at http://faculty.buffalostate.edu/ahiarasc during the course of present semester.

1 For further reading, the following materials are also RECOMMENDED: The Wall Street Journal; Inc. Magazine; and Fast Company Magazine. The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times, edited by David Landes, Joel Mokyr, and William J. Baumol (Princeton University Press) 2010; Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction, edited by Zoltan Acs and David Audretsch, (New York: Springer), 2003; Entrepreneurship: An Innovator’s Guide to Startups and Corporate Ventures, by Marc Meyer and Frederick Crane (Los Angeles, CA: Sage), 2011; The Illusions of Entrepreneurship by Scott A. Shane, (New Haven, CT.: Yale Univ. Press), 2008; Entrepreneurship, 9th Ed., by R.D. Hisrich, M.P. Peters, and D.A. Shepherd, (HPS) (New York: McGraw-Hill/Irwin Publishers), 2010; The Entrepreneur: An Economic Theory by Mark Casson, (Totowa, NJ: Barnes & Noble Books),1982; 1000 Dollars & An Idea, by Sam Wyly, (New York: Newmarket Press) 2013; “Why Should White Guys Have All The Fun?” by Reginald F. Lewis & Blair S. Walker, (New York: John Wiley & Sons) 1995; The Entrepreneur: Mainstream Views and Radical Critiques, by R.F. Hebert and A.N. Link, (New York: Praeger) 1982; Innovation and Entrepreneurship: Practice and Principles, by Peter F. Drucker (New York: HarperCollins Publishers, Inc.) 1985. “The Start-up of You,” by Reid Hoffman & Ben Casnocha, (New York: Random House, Inc.), 2012; All In Startup: Launching a New Idea When Everything is on the Line, by Diana Kander, (Hoboken, New Jersey: John Wiley & Sons), 2014. Rise and Grind by Daymond John with Daniel Paisner (New York: Currency - Penguin Random House), 2018; https://www.npr.org/podcasts/510313/how-i-built-this

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INTRODUCTION: Welcome to Bus.365: Introduction to Entrepreneurship, course. We would like to proceed as follows: begin by briefly broaching the question: what is the nature or definition of the entrepreneurship phenomenon that we perceive and wish you, the student, to know3? Entrepreneurship, for all its popularity4 today, means different things to different educated people—the academic literature shows as much. Yet, those who do not peer above their own silos to see the landscape, or those who assume that their concept of it is unassailable abound. It is better to not assume that everybody understands the same thing by our focal term; in this course, it is necessary that we all share common frames of reference—that we all start from the same page referring to the same things. If we do not have a good sense of what major terms connote, we may not quite understand or appreciate what we encounter: we would be better off approaching the entrepreneurship landscape with a good sense of what to expect…; what are certain descriptors that can help us get the most out of our exploration? Our definitions matter for still other reasons: they condition our expectations, inform our objectives, or help us to frame and make sense of what we do in a course. It is also important to define or, at least, clarify our core terms before proceeding, because that is how we convey an approximate sense of the nature and parameters of the phenomena with which we are going to grapple in the course. Next, we discuss the course objectives, after which we specify our particular approaches and their justifications. We, then, specify our expectations of students and how their achievement would be measured and reported in terms of grades. We conclude with the proposed schedule of course activities. A student who considers him/herself as an accomplished entrepreneur (and that is likely to impact his/her attitude towards the course requirements) should discuss with the instructor, whether to continue pursuing this course. Concept of Entrepreneurship: The term, entrepreneurship, is an anglicized derivative from, entrepreneur, a noun form of the French verb, entreprendre, (to undertake). That is, entrepreneurship is the word, entrepreneur, as modified with the English suffix, “ship,” added, to denote something connected, associated, or having to do, with the entrepreneur. Indeed, one popular press’ or dictionary’s definition of entrepreneurship is: “the role or function of the entrepreneur,”5 (compare also Casson and Casson6; and Hebert and Link7). Regarding entrepreneur, Filion, elaborates: “The term ‘entrepreneur’ is a French word derived from the verb ‘entreprendre,’ which means to do or to undertake. It can be divided into two parts, ‘entre,’ meaning ‘between,’ and ‘preneur,’ meaning ‘taker.’ Literally, then, an entre-preneur is a ‘between-taker,’ or ‘go-between.’ The term ‘entrepreneur’ first appeared in the literature in 1253, when it was used in different forms (e.g., ‘empreneur’). It appears to have taken on its present, definitive spelling in 1433 (Rey, 1994:700). We know it was used commonly in the 1500s and 1600s. For example, Champlain, speaking of his first voyage to explore the St. Lawrence River in 1603, wrote that he had been invited to make the trip ‘to see the country and what entrepreneurs would do there8.’” The roots of the Middle Ages French, entre—(between) and preneur—(taker), from which entrepreneur would be formed, are Latin, inter9—(between) and, prendere (verb)—(to take). French is recognized as one of the Romance languages because it evolved from Latin spoken by the Romans.10 In the broadest, most general sense today, entrepreneurship is a term/label used to refer to either of two11 different types of human concerns or endeavors, namely: (i) practice—what entrepreneurship practitioners do--their behavior, and, as indicated above, their role and function; or (ii) the academic study of any and everything conceivable about the practice (including the contexts, the practice-actors, their entrepreneurial behaviors/undertakings/practices and associated outcomes or impacts)—that is, it might, alternatively, be used to refer to a collection of academic disciplines12/fields13/areas of studies and/or, subject of courses, such as this, that seek to study, explain, and illuminate the entrepreneurship phenomenon. We will view only the practice-actors as entrepreneurs; in the course of their normal work, professors, scholars, researchers—academics (with the exception of those who also have real world experience as entrepreneurs)--do not self-identify as entrepreneurs14 and, are not necessarily regarded as entrepreneurs. Our entrepreneur is the prime mover, persona causa, orchestrator, undertaker, driver, as well as the risk-bearer of practical entrepreneurship. In other words, entrepreneurship, as practice, is the dance where the entrepreneur is the dancer (Gartner, 1989,15 citing Yeats,195616). The dance/dancer metaphor suggests a symbiotic, intertwined, relationship between the entrepreneur and practical entrepreneurship, and this inseparability or entanglement, such that reference to one simultaneously implies the other, makes it very difficult to maintain a detached focus on the one to the exclusion of the other in a presentation such as this. Simultaneous, unsystematic attention to, or consideration of, both entrepreneurship and entrepreneur here, should be understood, in this light, as unavoidable. Since the entrepreneurship term is used to label either particular undertakings/practices of entrepreneurs, or the academic study of, or field that focuses on those, it follows that what constitute the practices that the practitioners undertake and academics study, lie at the heart of the concept of

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entrepreneurship. The concept of entrepreneurship as practice is, therefore, the one that should, henceforth, occupy our attention What entrepreneurship, as practice, connotes continues to be debated: is such entrepreneurship strictly an economic/business phenomenon regardless of the realm, sector, arena, sphere (military, religion, technology, art, politics…), philosophy or ideology (capitalist, socialist, communist) of human contrivance involved? Or, is it a social change effecting phenomenon focused on making the earth a better place for all its elements, covering blind spots (areas of failure) of economic/market systems; or, is it a policy/governance/political phenomenon focusing on public policy innovation and its implementation? To what sphere or arena of human concern and endeavor/activity does it belong? What are recognized, representative, ways of practicing it? Partisans of each of the silos identified above (i.e., economic/business, policy/governance/political, social and environmental welfare) seem quite convinced that their perspective matters, otherwise, they would not persist. Peter Kilby seems to state this conclusion as follows: “In short, practitioners in each of the social sciences tend to define the problem so that the principal determinants of entrepreneurial performance fall within their discipline.”17 What is the proper level, or analytic unit, of focus to explore entrepreneurship in a course such as this? Should it be at the individual, firm, industry, nation-state, or regional level? Inasmuch as we have contrasting views on the connotation of entrepreneurship, this type of course ought to encourage student awareness of them, rather than proceed as if there were no objections to restricting the entrepreneurship construct to reciprocal (two-way) values exchanging business, since ignoring or dismissing the objections would mean that students would neither be well informed thinkers relative to entrepreneurship, nor would they be made aware of the variety of different practices or human undertakings being labeled as entrepreneurship. Hearing different viewpoints on what entrepreneurship connotes from history to the present might not impress some, but it, nevertheless, is insightful and contributes to an expanded, more informed, understanding of the phenomenon, and pursuing these insights and understanding are worthy educational goals. Entrepreneurs (and, therefore, associated practical entrepreneurship), of all stripes, are distinguished from non-entrepreneurs by the entrepreneurs not only thinking, wishing, dreaming or envisioning, but by their also following through, coupling their intangible visions—dreams, wishes, thoughts, ideas—with concrete decisions, actions and undertakings that implement the visions…that turn the ephemeral ideas/visions into reality. Entrepreneurs do, act, undertake, implement, and execute their ideas! But all humans undertake various kinds of activities, every day, that are not labeled as entrepreneurship in practice (every human activity cannot be so labeled without rendering meaningless or ‘laying waste’ the term); what distinguishes the decisions, activities, and undertakings we would assign the practical economic/business or social entrepreneurship label from those we would not so label? Practical (economic/business or social) entrepreneurial decisions, activities, undertakings are only those directed to enacting, erecting, creating, establishing a sustainable social, adaptive (learning) mechanism, system, organization, structure, tool, modus operandi, design, model, (which could have a life of its own independent of its creator’s). Such a mechanism, system, organization, structure, tool, modus operandi, design, model, necessarily functions as a vehicle used to implement, exploit—maintain an ongoing execution of—a concept, idea, for capturing/appropriating intrinsic or extrinsic value (economic or social utility) that helps to satisfy/meet/solve or respond to the need(s) or ends of the creator(s)/entrepreneur(s) and/or of stakeholders/beneficiaries they assume. The value capture approach could be via ongoing, (i-a) market mechanisms including legal or illicit transactive, reciprocal (two way) value exchanging, means; (i-b) non-reciprocal (one-way) value exacting/appropriating/snatching/swindling/capturing means, including con/deceit, scam, fraud; or via (ii-a) non-market mechanisms including coercive, parasitic, predatory, military…means, such as, seizure, confiscation, piracy, robbery, extortion, expropriation; or (ii-b) supplicative, solicitative (begging) means, such as adopted by humanitarian, religious, public welfare, environmental protection, set-ups. Entrepreneurial activities for an “organization”18 startup are succeeded by operating activities of the mechanism/vehicle at a point that it achieves self-sustaining, value generating, status; alternatively, such entrepreneurship might be superseded by exit via a sale or merger of the emerging mechanism, initial public offering, abrogation, or simply, failure—if economic/business or social entrepreneurship, as practice, has a beginning or initiation phase, it must also have an ending phase or bounds. It would also be worthwhile for students of entrepreneurship to understand these as well as be able to critically examine and, possibly, become sensitized to ethical implications of practicing, say, parasitic, predatory, extortion type of entrepreneurship, or entrepreneurship which, according to Baumol, is “unproductive, destructive,19” or that thrives on capturing value fraudulently.

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Perceiving practical entrepreneurship as, essentially, a behavioral process that encompasses decisions, activities and undertakings involved in conceiving and establishing a policy/law (policy entrepreneurship), or establishing an ongoing value capturing (exchanging, taking, extorting/exacting/confiscating, soliciting) adaptive social mechanism (economic/business or social entrepreneurship) in any sphere of human concern the course will explore the application of such a process in conceiving and setting up or reviving reciprocal value exchanging, preferably scalable businesses. (Note that to be regarded as a business, rather than a hobby, in the U.S., the enterprise must, at least, be demonstrably, profit-seeking/making). Why particular attention to economic/business entrepreneurship? The choice allows us to spend more time on the exchange/market-based approach to capturing value. Attention to business would be consistent with our contextual reality: this is, after all, a business course within a business program. Our current Undergraduate Catalog describes this course in terms of, “the functions performed by entrepreneurs, such as, searching for opportunities and gathering resources to convert them into growth oriented profitable ventures. Students conduct research on identified opportunities and prepare business plans” detailing proposed conversion process, expected outcomes and timeline including important milestones. Before there is any detectable, consequential, business enterprise, there is business entrepreneurship—the process that includes decisions and activities that the entrepreneur undertakes to organically or acquisitively establish the enterprise from a concept or an idea of a value proposition. In other words, translating the concept of a value proposition into an established business enterprise, that generates economic and/or social value and other effects, are the concern and hallmark of business entrepreneurship. For the purpose of this course, the entrepreneur unit/corpus of emphasis will be the individual or group of individuals, such as family, partners, or tribe. We will view ‘entrepreneur’ as an important term reserved for hardy persons in recognition of their rather uncommon corroborated accomplishments, and not as a concept wrapped around abstractions, mystical deeds or achievements that cannot be independently corroborated or persuasively described in the course to the instructor. To be recognized as an accomplished business entrepreneur, a person must have established (started or acquired) his/her own profit-seeking/making firm or business enterprise. There must be authentic, reviewable, evidence such as, Schedule C-tax return; licenses; registrations; own Fed Employer identification number; not being paid by an owner-boss; the entrepreneur’s establishment actually transacting business for profit…, that substantiates or documents the claim/recognition. As indicated above, entrepreneurship is not just a single discrete event or activity but a process—a rather “disorderly,”20 rarely linear, diachronic, process (and where we have a process, we should not be surprised if there are associated antecedents and “postcedents”). The process for any such particular social mechanism or set-up unfolds in phases or stages. The entrepreneurship process and stages for any social mechanism or set-up have beginnings and what has a beginning must also have an ending point. Nascent business entrepreneur— “individuals actively involved in (their first) business creation”21 is a term we will use to designate any person, or team, undertaking (independent of the resource endowments or control of an existing organization) an entrepreneurial activity, but that has not completed the set of phases and activities that define a manifestly established enterprise. The nascent entrepreneur has started but has not completed or reached the ending point of their first enterprise creation, where the accomplished (including serial) business entrepreneur has established an enterprise that has achieved self-sustaining status. Similarly, since scope and outcome/impact (postcedents) of entrepreneurship are not uniform across all the entrepreneurship landscape, we will recognize the breadth of entrepreneurial impacts as ranging from no impact or low-impact to high-impact. COURSE OBJECTIVES: How a business comes into being (organically or acquisitively) and, particularly, what is involved in high-impact (profit seeking) business entrepreneurship by individuals and groups of individuals, and why, stand out as concerns of focal interest, and certain corollary concerns also follow, such as: What are relevant concepts/constructs and models for understanding business entrepreneurship at the autonomous individual or group level in the U.S.? What types of decisions, actions or undertakings constitute the process of such (profit seeking) business entrepreneurship, and what types do not? What differentiates a business idea from a non-business idea? What are some of the ways of searching for, identifying business ideas and/or recognizing business opportunities? Are there appropriate ways to craft a business plan or proposal that lay out how a business concept is to be developed to sustainably connect to its relevant environment, and/or to persuasively “sell” the venture vision to various types of stakeholders including suppliers, customers and community. What considerations are there for purchasing/buying outright or into an established enterprise? Where are the boundaries of business entrepreneurship? Why do so many people undertake it in the U.S.? What are the general characteristics of those who undertake it and succeed or fail? What are the characteristics of its environment(s)/context(s) and their implications, for example, who are its typical stakeholders, and what might be their influences or impact(s)? And, how might legal format/structure

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chosen factor into facilitating or constraining an enterprise’s development…? In sum, the course learning objectives are as follows:

Learning Objectives (Not necessarily listed in the sequence of exploration in the course) Students will acquire a variety of intellectual and analytic skills and abilities and demonstrate their understandings of:

● What is entrepreneurship? Historical scholarly differing perspectives on entrepreneur and entrepreneurship, and implications for coherence in academic understanding of them. How entrepreneur, entrepreneurship and intrapreneurship are defined, and the distinction between social, policy, business entrepreneurship, and intrapreneurship.

● “Push”/ “Pull” triggers of business entrepreneurship. How to search for, Identify and recognize business opportunities when they exist, or how to come up with potential business concepts/ideas. Pros and cons of the entrepreneurial path. Constructs of value proposition, target customer, TAM, SAM and SOM. Concept of “business model,” and “business strategy.”

● A conceptual model of elements of the enterprise ecospace. Concept of evidence-based vs traditional entrepreneurship and/or fundamental factors associated with success in entrepreneurship. Importance of the business entrepreneur, entrepreneurship and enterprise in the U.S.

● The environment of the entrepreneur, entrepreneurship and enterprise including locational, societal, micro, macro and other overarching contextual factors and influences.

● Types of entrepreneurs and the distinction between an entrepreneur, an inventor, the self-employed and a manager. The entrepreneur’s perspective vs the manager’s: a bias for action vs a bias for analysis and risk aversion. Characteristics of the more successful entrepreneurs. Selected hypothesized factors of business success or failure

● Different modes of business entry. Foundations of a start-from-scratch business entrepreneurship. The entrepreneurial process: considerations for initiating a new (start-up) business venture, including some start-up decisions, actions and undertakings. How to appropriately develop a business plan or proposal that lays out how a venture goes from concept to reality; how to sustainably connect to its relevant environment, as well as, how to persuasively “sell” the venture vision to various types of suppliers and customers. Considerations for purchasing/buying outright or into an established enterprise as a franchise.

● Types of business legal formats: advantages and disadvantages of each ● Putative bounds of entrepreneurship for an actualized or concretely manifested start-from-scratch business idea.

Fundamentals of managing and growing/scaling the entrepreneur’s enterprise. The above are pertinent issues that this introductory course in business entrepreneurship (offered in the “traditional22” format) can and ought to explore, and an objective of this course will be to work with students to explore them. Research reported in the Global Entrepreneurship Monitor suggests that, “In high-income countries (including the U.S.) …education seems to be positively related to business start-up. Of those who start up a business in high-income countries, 57 percent have a post-secondary degree23…” This should be intriguing, if not instructive, for you who are here pursuing post-secondary education. That the other 43 percent of the business starters in the study had no post-secondary degree is also instructive and implies that anyone can become some type of entrepreneur regardless of his/her educational background. On either count, aspiring entrepreneurs should be sanguine. All the possible paths to successfully establishing an enterprise have neither been described nor exhausted, and possibly, will never be exhausted. Therefore, those who are not yet entrepreneurs have not missed their chance; the world is waiting for their own unique entrepreneurial adventure story. The book will never be closed until each story has been added. The sooner the dreamer began to write it, the better. An introductory course in business entrepreneurship can simply emphasize this point, or function to create awareness of the different types of entrepreneurship as worthy of support or as possible career options. A part of the course objectives will be to do these. Indeed, a student who satisfactorily completes this course should have considered issues of an alternative career path via self-employment or how to become the employer, in contrast to considerations, suffusing our curricula, of a career path via wage employment and how to be a good employee. In other words, a student who satisfactorily completes this course would have completed an acknowledged business entrepreneurial activity. But the course does not have to be justified by only if it leads directly to, or, encourages enterprise development. As Martin Shubik noted in an editorial in Management Science, “application is not just calculation and specific problem solving. It is also concept clarification, education and changing modes of thought.24” This course can explore the questions raised for the sake of enlightenment without having to be a “how to” course in practical entrepreneurship, just as an “Introduction to Business” course can explore the characteristics, functions and strategies of extant business entities without having to succeed or fail based on whether or not its taker is

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prepared to successfully run a business entity solely from, or as a result of, taking it. From exposure to the fundamental aspects or basic issues of the subject, it is hoped that the students would acquire relevant related knowledge and a more informed way of thinking about entrepreneurship, as well as, understand and appreciate the challenges and advantages of entrepreneurship regardless of whether they consider practicing it. If the above are the primary objectives of the course, the following cognate objectives are also expected to be achieved by those who complete this course satisfactorily: ability to communicate a venture proposal more effectively; ability to function well in a group or team; reinforced knowledge of the functional areas adopted by successful organizations and how those functions relate to each other in facilitating progress of an entity; and, an appreciation of ethical responsibilities by founders of business entities. (Expected learning outcomes are also detailed, unit by unit, in the “Schedule” section below). APPROACH: As there may be students who are just curious or interested in, mostly, entrepreneurship education for purposes other than to become practical entrepreneurs (e.g., aspiring small business development advisors, consultants, scholars, policy makers and supporters, and those who just want another three credit hours to complete their degree requirements) just as there may be others whose interest is in practical entrepreneurship (e.g., potential or nascent entrepreneurs, managers of intrapreneurs), this can neither be a purely theoretical-normative, nor an exclusively descriptive-analytic course. Nor can this introductory course promise full training required to practice or function in either the academic or real-world settings. Training for practice usually incorporates some practical internship element, as done in medicine or accounting, or some realistic intensive simulation and case study as in aeronautics and law. More experiential or academic learning, beyond this course, is called for in order to fully develop expertise in entrepreneurship, however conceptualized. Academic focus on entrepreneurship can be expected to yield formal explicit knowledge, whereas practical entrepreneurship, like any other practice, may be based on both explicit and tacit knowledge. To the extent that tacit knowledge is experience- or practice-based, it is then best acquired by practicing, especially under a mentor. In other words, embracing entrepreneurship with a specific practice expectation requires experiential learning which is best pursued through apprenticeship, but apprenticeship is not going to be a, de-facto, guaranteed, feature of this course. Still, this course through its assignments would neither dismiss, sugarcoat nor downplay, to the conscientious participants, some aspects of the experience, including hard work, frustrations and even failures that tend to be associated with entrepreneurship. A strong attempt will be made to give the course a pragmatic rather than a strictly theoretical orientation. The assigned Gartner/Bellamy textbook will be used principally as a reference and source of the comprehensive tests to be given in the course, and not necessarily as an exclusive source of the instructor’s presentations. Indeed, the instructor expects to draw from widely including the materials recommended above. Effort will be made to tap into the experience of high-impact entrepreneurs either by visiting them or inviting them to address the class, in person or via video, or by doing projects based on their businesses. The class schedule will be adjusted to accommodate potential invitees, including those suggested by class members. Alternatively, or in addition, several cases/articles to be taken from magazines, such as Fortune or INC. or The Wall Street Journal, and other materials, will be read, analyzed and discussed by the class for the cases'/articles’ illumination of, or insights into, aspects of entrepreneurship. Internet search assignments may be given to further explore some of the course topics.

The increasing challenge of commanding students’ attention these days of intense competition for it against interactive technology, including smart ‘phones that they addictively consult, calls for new ways to get course lessons across, including, co-opting the smart devices, or somehow crowding them out. A combination of presentations, give-and-take discussion, podcasts and videotaped anecdotes, will constitute the other modes of instruction in the course. The presentations will cover some of the procedural aspects of launching a business, whereas the anecdotes and cases will illustrate various aspects of the entrepreneurial process.

Students will read, write, view, listen, analyze, critique and speak on the identified objectives relative to entrepreneurship. They might be required to complete, present, defend and submit a realistic, credible, persuasive, proposal or plan for a potential or hypothetical business venture that they might initiate. Such a business proposal or plan will be written piecemeal as the course progresses, and as related sections of a comprehensive business proposal or plan are addressed. The business proposal or plan to be presented/defended might be either, Option I: a 10-15 page integrated HW-Front stage Plan, and HW-Backstage Plan, recast to instructor-provided written specifications, as a Business Model Canvas, or a comprehensive written business plan including a Cover Page, Executive Summary, Financial Plan, and Appendices, or, Option II: integrated HW-Front Stage, HW-Backstage, Timeline and complete financial plan, all presented in collated PPT slides mimicking a “pitch deck,” presented orally as well as submitted as a final project; or, Option III: unintegrated HW-Front stage Plan, and HW-Backstage Plan,

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each revised to address instructor’s written suggestions or comments for improvement. The option to be completed will be discussed in class. In addition to the individual options, case analyses involving different aspects or parts of a business proposal or plan might be assigned and required to be completed and discussed by student teams.

The preference for pragmatism notwithstanding, this is still an academic course offered primarily in a college classroom which is neither specifically designed nor outfitted as a laboratory to allow for apprenticeship that provides real-life entrepreneurship experience. Each student who desires a “hands-on” or first-hand apprenticeship experience, or greater practice intensity than what is provided in this introductory entrepreneurship course, should propose, in consultation with the instructor, an appropriate mentoring arrangement under a qualified, well-known, undisputed entrepreneur in our vicinity. We must all agree on what outputs/reports are to be generated and the deadlines to be observed consistent with the semester time frame. Similarly, a student who wants to go directly from this course to form own business is strongly advised to elect an evidence-based entrepreneurship option/approach with the instructor or seek more specific advice from him, within the time frame of the first or second scheduled sessions of this course.

Impromptu quizzes or unannounced “participation activity” summaries might be used with homework assignments to motivate student initiative in learning from instructor-suggested resources and to reinforce specific course content or requirement. Again, those who disagree with, or reject the foregoing objectives and approaches should not take this elective course.

REQUIREMENTS: Any expectation that the above approaches would lead to a student's achievement (to any degree) of the stated objectives inevitably rests on certain premises/assumptions. At a minimum, these include that each student must: (1) acquire and independently review all prescribed materials, preferably ahead of schedule; (2) physically and mentally attend scheduled classes on time, and actively participate in them; (3) maintain proper decorum in the class and throughout the course: The Faculty Handbook (p.2) provides for the following to be communicated explicitly here: "Disruptive behavior by students in my class will not be tolerated. Whenever I deem a student to be acting in a disruptive or threatening manner, I will exercise the right to ask that individual to leave the classroom. If refused, I will exercise the right to notify University Police. The responding officer will determine whether an arrest should be made or whether a referral to medical or counseling staff is appropriate. If a student is perceived as a danger to himself, herself or others, the dean of students may propose an interim suspension until a hearing is held.” (4) conscientiously do assigned or required work on time.

Absenteeism, tardiness, or any reason given for why assigned meaningful course work is not done at all, or not done when expected, (as understandable as it might be), nevertheless, functions to detract, frustrate, short-circuit, interfere with or even undermine the learning environment/routine and focus expected or intended, and thus negatively impacts the student’s learning. How or why? For one thing, “interferences” forcibly divert attention away from the primary objective for which the course exists, and consume valuable time at the expense of where the focus should be. A student could neither get learning facilitating constructive feedback when he/she fails to submit valid work on which feedback could be provided, nor could he/she learn lessons that conscientiously grappling with and completing assigned meaningful course work impart, if he/she gets involved in other than addressing the assignments when they are addressed in the course. It is hard to see how foundational work missed, avoided or interfered with in a designed developmental (build up) approach could be timely restored or remediated to still allow for the achievement of learning outcomes expected at the semester’s end. Or, how could “clever avoidance,” or rancorous litigation of assignments help the student? For the class to be a meaningful, effective, learning medium for all, each student is, therefore, required to:

• Attend class regularly unless as modified for an agreed-upon mentoring arrangement. This is not a distance course, and the instructor does not intend to run it as such. One who thinks or seeks otherwise should not take this elective course. Regular attendance is necessary to be in the best position to meet the other requirements specified below.

• Maintain mental participation in class at all times. Oral participation is appropriate to contribute to class discussion, or to address a question or confusion about a concept or an assignment. Ask the question; do not expect or depend on others to ask it. The instructor does not intend to insult and has never insulted a student for asking a question. Be prepared also to answer the instructor’s questions, and to contribute insights or first-hand knowledge as a way of participating in the class. Interact positively with classmates, and, overall, help make the class experience one that is positive, interesting, and worthwhile. Participation will be scored and will count for 15 percent of the course grade. The score that each student is to expect for making his/her oral presentation on schedule is double whatever participation point is awarded to a non-presenting student during Oral Presentation sessions.

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• Timely complete all individual projects or homework, including a written business proposal or plan that is assigned. (Please, suppress your instinct for any project, proscribed below, that utilizes or involves ALCOHOL, SUBSTANCES THAT HAVE NOT BEEN LEGALIZED (E.G., CANNABIS/MARIJUANA), TOBACCO, FIREARMS, EXPLOSIVES, or which, in any way, endangers the safety of group members or the reputation of this State University, or which violates the code of professional conduct (as profitable as it might be!) No credit will be given in this course for any of the proscribed projects). The student should be serious about the course work, and should, therefore, avoid falling into a pattern of not doing required course work on time. For the purpose of determining whether a homework assignment was turned in on time, on its due date, the completed work must be hand delivered to the instructor in class on the due date. The student could have a fellow group member or team-mate hand-deliver his/her completed HW on time on the due date if an extenuating circumstance prevents him/her from hand-delivering it by himself/herself. Failure of a team-mate to hand-deliver HW, transmitted through him/her, will not excuse a late or a missed HW from the application of the course policy stated here. The instructor will discuss a received homework acknowledgment method in class. The burden of proof will rest on the student who does not follow these explicit guidelines. Any homework either submitted late (i.e. after the class session in which it is due, but before those of its “cohort” collected in class and batched, have been graded) or HW not submitted by the student, as directed, and on its due date, will not be graded for more than one-half of the maximum possible points allowable for that assignment. No assigned work will either be collected or graded once any in the “cohort” or batch to which it should have been included, has been graded and returned. A pattern of either tardiness or of missing course work is not conducive—indeed, is incompatible or antithetical—to the acquisition of KSAs expected in the course; if the student cannot significantly follow the course plan, does it not make sense for him/her to either drop and, if still interested, retake the course and pursue the KSAs acquisition later when he/she is able to reasonably expect to complete it with minimal interruption or confounding interference? It is nearly impossible to acquire in a crunch, say in a day, contrary to demands from some students, KSAs planned/designed (with course work and assignments) to be acquired developmentally and progressively in a graduated sequence during the course of a semester. If extenuating circumstances prevent a student from reasonably doing the course as planned, such student could always—indeed, should—pursue it when he/she is able to, reasonably, expect to complete it with less impediments or pressure25. There will be no less than a two-week interval between the assignment, collection, grading and return of HW, where, before the “return of graded HW” demarcates “submitted late,” but still gradable, and “missed”—therefore, not gradable. Within this interval, a serious student would turn in HW that is due. To reiterate: missed HW cannot be made up; the student seeking back copies of previous class handouts beyond the immediate past class session should obtain them from his/her class or team mates.

• Complete: weekly team work/report based on the specific “Shark Tank” episode assigned; one team critique/analysis of a business plan case to be provided by the instructor; and one team research & analysis to gain insight into selected legal formats for structuring a start-up enterprise. Detailed instructions regarding each team assignment will be provided in class.

• Complete special evidence-based practicum projects that include: (1) Individual Daily Idea Journal entries; (2) Alternative Ideating Approaches including Buyer-Expressed; and (3) Identification of Critical/Key Success Factors of an Idea’s Industry. Special practicum projects will be assessed in terms of (1) whether e-ship type of action is taken or not, and if taken, (2) its timing. These should drive home that (1) entrepreneurs take entrepreneurial actions where non-entrepreneurs substitute excuses for entrepreneurial actions they do not take, and (2) tardy responses to entrepreneurial opportunities have consequences including entrepreneurial ineffectiveness or missed opportunities.

• Complete given quizzes. The purpose of the quizzes will be to persuade participants to pay close attention to class activities, and, to do all the homework. Many of such homework assignments will be reviewed/solved in class. An official version of a homework solution, outside this class review/plan can only be provided if there is a typed or printed one. Each quiz will be worth no more than five points. Complete two announced examinations of 25 points each. The examinations will be based on chapters of the assigned text. Every student should take each exam when it is given to the whole class. This will save us the problems of having a special exam prepared for those who missed the regular one. Class seating for taking exams will be assigned/supervised by the instructor or his designee on exam days to promote uniform observance of written or implied examination rules or etiquette.

• SUBMIT on April 23, 2020 (24th session), all your idea journal entries that were notated weekly by the instructor. Submit/attach all your 10 weekly entries that the instructor notated. Using your judgment,

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identify your best five individual ideas (out of all the notated ideas that you attach) and assign them tag numbers one to five, as in the following examples: (1) Food Truck Gorm84u; (2) App. for locating open parking spaces/spots…; (3)…….; (4)……; and (5) App. that automatically creates budgets for a startup. (The number tags help us to identify your chosen best five of the many ideas you generated during the semester!) You require the number tags for representing, on the AD-HOC IDEA EVALUATION worksheet (WS) provided, your chosen best ideas which you are using the WS to assess, screen, filter and rank-order. The completed WS must also be submitted with all your instructor-notated, attached, idea journal entries. Points awarded here would be consistent with instructor-notated idea journal pages you attached. No point(s) would be awarded for either idea lists that were not duly notated by the instructor during the course of the semester or to worksheet summaries of idea lists where such ideas were not notated during the semester by the instructor. Idea entries will only be notated on due dates in class and not emailed.

• Submit a portfolio folder on Wednesday, May 05, 2020, that includes two parts: Part I (control) must be a subjective, one-to-two-page, type-written list of, at least, ten (more if applicable) of what you consider to be knowledge, skills, abilities, (KSAs) revelations, surprises, disappointments, etc., you acquired or experienced from this course. It is not unusual to find some students who took an Introduction to E-ship (Business) course, such as this, to state that “they didn’t really learn anything,” (see Knott26, 2001:2). Could you, a student, conscientiously undertake the series of course activities outlined here and still reach this conclusion? Let us put this to a test: Keep a log of the KSAs as units are completed during the semester. If possible, include what you intend to do with the KSAs, and how disappointments you listed could, possibly, be addressed or minimized in the future. Part II (treatment) should be a second type-written or word-processed objective report summarizing or synthesizing all your Home- and In-class work (e.g., your summaries of the video presentations, the podcast notes, the occasional handout homework, in-class reinforcement cases/exercises, team work reports…) that were graded and bear the instructor’s markings/comments/scores. You must indicate what the HW and in-class assignments were about, and how each illuminated or failed to illuminate the entrepreneurship topic/lesson that the assignment was about? All the Home- or In-class-work in question must be attached to this second summary. The Portfolio requirement is intended to prod you to: (1) make a conscious effort to track and keep a record of what is going on during the course; (2) therefore, you must maintain cognizance of the course activities since you cannot track what you do not keenly observe; (3) look back (at the end of the course) at what you tracked—assuming you did—to, (4) evaluate the course experience on the basis of facts you tracked and gathered. Undisputed facts—corroborated by both you and the instructor—have this stubborn property of objectivity, neutrality and fidelity to course events or activities. Should it not simply be taken for granted that a student seriously taking a course would do these, 1-4, as a matter of course? How else could you know, on a personal level, if you did your best or not (judging from the facts) and, therefore, how to better proceed to get the best out of yourself in other courses going forward, if you do not undertake honest fact gathering, assessment, reflection or search for takeaways, that the portfolio assignment demands? Alternatively, your honest observance of these requirements could provide you with a basis to withdraw on time to more satisfactorily engage yourself elsewhere. More elaborate discussion of this assignment is appended to the copy of this syllabus distributed in class and internally—(i.e., within our institution).

OTHER: Many students today may or may not be aware of their thinking of education in commodity terms, with the course grade as the commodity. With such predisposition, they enroll in a course and expect to do nothing more for their preferred grade than their act of enrolling. But education is not a commodity such as coffee, TV set, or car, for which you can pay your money, and have it delivered without your significant involvement. Rather, education is more of a service—a “high-contact27” one at that. What mostly distinguishes a “high-contact” service process from a commodity production or merchandising process is the involvement of the consumer as a critical, inevitable, input in the process. A “high-contact” service consumer will, simply, not get the service in the provision of which he/she refuses to participate as a critical input. How can a patient, passenger, lodger, for example, receive medical, transportation, and accommodation services, respectively, that he/she refuses to directly participate in the service delivery process? A student enrolled in a traditional (face-to-face, high-contact) course such as this, is not likely to get the education that he/she, at best, approaches with a cavalier attitude, or at worst, refuses to participate in its delivery, regardless of the quality of “grade commodity” that he/she ultimately receives. Attendance means that the student is in class on time, both physically and mentally, during the scheduled time for all held sessions. Students who attend classes deceptively or miss a significant number of them do not do the best they can to get the education according to this course design, and are unlikely to earn above-average grades in the course. If you do not like the traditional design of this course, you should pursue another course whose design suits you. The college often requires the instructor to furnish a student’s class attendance information in certain reports. In order to comply, the instructor must collect and maintain an attendance record. The instructor is not expected to falsify attendance or absence record for a requested report. The instructor cannot ex post facto re-create each class’

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dynamics upon which participation points were based so as to enable those who missed that class to earn the participation points, nor can he re-teach each class that has been held. The highest grade which starts at an overall score of 93.45% allows for less than perfect scores in homework, participation and examinations. One who turns in, as discussed above, well-done homework when due, and does not make a habit of missing classes, can do reasonably well in the course. It is, therefore, neither necessary nor useful to litigate, impugn, malign, derogate, or insult the course, the instructor, the college or the educational process for specifying and operating within norms such as defined above. The instructor cooperates with the Student Accessibility Services Office in accommodating students in the manner requested by that office. The instructor also prefers to implement course procedures, guidelines and requirements uniformly to avoid appearances of impropriety, inconsistency, lack of integrity, double standards, or of being unfair and unethical. The appearance of “pulling strings” for some and not for others tends to disappoint, disturb, and demoralize those who feel discriminated against or shortchanged—actual evidence of authority’s hypocrisy, ultimately, unravels the whole system. All stakeholders have interest in the system’s integrity without which the student’s eventual credential from our institution would have little, if any, credibility or future leverage value. Students who disagree with this course’s plan as discussed in this syllabus should pursue a similar course with another instructor. GRADES: Grades will be based on scores earned in all the requirements outlined above. The scores will be intended to only measure knowledge a student demonstrates on items covered in the course. Course grades are defined as follows:

A = 100.00-93.45%; A- = 90.00-93.44% B+ = 86.50-89.44%; B = 83.45-86.44%; B- = 80.00-83.44% C+ = 76.50-79.44%; C = 73.45-76.44%; C- = 70.00-73.44% D+ = 66.50-69.44%; D = 60.00-66.44% E = 59.44% and below. The following weights will be used in computing students' overall scores for determining course grades:

Class Participation 15% Individual Homework weekly, Business Proposal, and Portfolio Summary 40% Special Practicum Assignments Team Work: Weekly Shark Tank, Bus. Plan Analysis, Legal Structure Rsch

5% 10%

Comprehensive In-class Examinations 30%

Expressed in formula form, said overall score will be computed as follows for each student:

[0.15(Class Participation Score)/(Total Expected Class Participation Points)(100)] +[0.40(Indiv. HW, Bus. Proposal, Portfolio… Score)/(Total Expected Indiv. HW, Bus. Proposal, Portfolio… Points)(100)]. +[0.05(Special Practicum Score)/( Total Expected Special Practicum Points)(100)] +[0.10(Team Work Score)/( Total Expected Team Work Points)(100)] +[0.30(Comp. Exams. Score)/(Total Expected Comp. Exams. Points)(100)]. Since students that follow required course procedures will always be given their scores as well as the expected points, for each graded requirement, no later than the first or second week succeeding the one in which each assignment is collected and subsequently graded, you should be able to compute your overall score to-date at any time during the course, based on the above formula. The instructor will apply the above formula in preparing each active student’s progress report which will be distributed in the 16th class session—March 19, 2020—and, thereby, review/illustrate the computation also.

SCHEDULE: This schedule reflects a general plan for the course; deviations may be necessary as the semester proceeds, and depending on the progress of the class. At the option of the instructor, this syllabus itself, including assignments, may be modified to allow for extenuating circumstances (emergency school closings, for example), or other activities related to the class. Except for extenuating circumstances, or unless otherwise announced by the instructor, the date for the examination will be observed. You will be notified, in class, of any changes originating from the instructor. You are responsible for any announcements made in class.

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Date

Sess-ion

Related Chapters of GwB Text if Applicable

Activities and Homework Assignments

Tues. Jan. 28

1 W1-1

INTRODUCTIONS AND SYLLABUS REVIEW.

Thurs Jan. 30

2

W1-2

Special Prct. Assign #1 (Indiv.): Daily Idea Journal…to be weekly notated by Instructor (Best/Top 5 end of semester…?) 50 Entrepreneurs share…advice ~ 3:00 YouTube Unit 1: Overview of the Concepts Of Entrepreneurship, Entrepreneur, Enterpriser and Enterprise. Expected Learning Objectives/Outcomes for Unit 1: Upon successful completion of Unit 1, you should be able to: 1-1. Briefly review the historical connotations of the “entrepreneur” construct or concept before Richard Cantillon. (Warlord, battle-field commander, govt. contractor) 1-2. Discuss the cross-over of “entrepreneur” term to the English language and the focus on economic/business “entrepreneurship”(E-ship) both after Richard Cantillon and views of entrepreneur and E-ship constructs from multiple disciplinary lenses. 1-3. Explain the constructs: “entrepreneurial environment”, “accomplished or experienced business entrepreneur”, “nascent business entrepreneur”, “enterpriser”, “business entrepreneurship”, “business enterprise” outcome, and “economic and/or social effects/impacts” from E-ship and enterprise. 1-4. Develop a framework for viewing the interplay of the constructs introduced in 1-3 above, and explain how or why this depiction helps to illuminate entrepreneurship. (A Framework for Viewing Or Exploring Successful Entrepreneurship In Relation To Its Context, Antecedents And Postcedents such as Outcomes and Impacts) 1-5. List, at least, five reasons why many Americans dream of becoming business entrepreneurs. 1-6. List, at least, three reasons why, among Americans who dream of business ownership, only a small proportion actually end up as business entrepreneurs. 1-7. Discuss the scope of entrepreneurship in the U.S., using appropriate indices or proxies, if necessary. 1-8. Differentiate between the driving imperatives behind a business and a charity, as a way to understand why a business behaves the way it does. 1-9. Contrast the term, “accomplished business entrepreneur” as defined in the course from each of the following: (a) self-employed, (b) manager, (c) inventor, and (d) intrapreneur. 1-10. Contrast business entrepreneurship, as defined, from (a) intrapreneurship, and (b) small business. Class Presentation Today Unit 1: Concepts of Entrepreneur Before Richard Cantillon (1680? to 1734 C.E.)

Tues. Feb. 04

3

W2-1

~Distribute/Assign these Individual Handout HWs: #1: What’s Dreaming, Aspiring for, or Envisioning of, Destination/Ends & Means Got to do with Business Entrepreneur, E-ship and Enterprise, Anyway? The Wolf Shadow and Jean Dialog & Personal Reflections, due 5th session (02/11/20) #2:Quest/Search for a business idea or opportunity for own business development: A Problem/Need Sensing & Revenue or Profit-Generating- Solution Search Approach., due 7th session (02/18/20) Teams Form. Assign/explain Team HW #1 due on the 5th session, 02/11/20

Class Presentations Today Unit 1: Concepts of Entrepreneur Before Richard Cantillon (1680? to 1734 C.E.) cont’d. Concepts of Entrepreneur, Entrepreneurship and Enterprise After Richard Cantillon, and, morever, views of these constructs from multiple disciplinary perspectives since 1930s ~In-Class Exercise: Entrep. Concept Exercise

How I built this Podcast?

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Thurs Feb. 06

4 W2-2

Idea Journal Notation #1 Complete Class Presentation of Unit 1: Concepts of Entrepreneur, Entrepreneurship and Enterprise After Richard Cantillon and, views of these constructs from multiple disciplinary perspectives since 1930s AS WELL AS Unit 1 LEARNING OBJECTIVES 1-3 TO 1-10. Summary of Unit 1 takeaways?

Tues. Feb. 11

5

W3-1

No related

GwB text chapters

~Collect and discuss Assigned Individual HW#1: What’s Dreaming, Aspiring for, or Envisioning of, Destination/Ends & Means Got to do with Business Entrepreneur, E-ship and Enterprise, Anyway? The Wolf Shadow and Jean Dialog & Personal Reflections ~Collect Team HW #1: Shark Tank Summary#1, due today ~Assign Team HW#2: Shark Tank Summary#2 due 02/18/2020 Unit 2: Importance of the enterpriser, entrepreneurship and enterprise in the US economy. Expected Learning Outcomes for Unit 2: Upon successful completion of Unit 2, you should be able to: 2-1. List, at least, four ways that demonstrate/illustrate the importance of enterprisers to the U.S. economy or society. 2-2. Identify, at least, three “high-impact” accomplished-entrepreneurs, and discuss their philanthropic contribution(s) that improve human living standards, or alleviate human suffering for the less fortunate. 2-3. List, at least, five reasons why entrepreneurship is important in the U.S. society. 2-4. List, at least, five reasons why the enterprise is important in the U.S. society. 2-5. Critique the popular belief (or myth?) that entrepreneurs and their business enterprises set out to create jobs in the country. ~In-Class: Carl Schramm Podcast to reinforce Importance of Entrepreneurship

Thurs Feb. 13

6 W3-2

~Idea Journal Notation #2

~Distribute/Assign the following HWs:

Individual Handout HW#3:Value Proposition Statement; Target Customer & TAM/SAM/SOM definitions due in 8th session (02/20/2020) (What are key, foundational, elements of a business enterprise?)

Special Prct. Assign #2 (Indiv.): This HW is to Focus on Industry Dimension of the Entrepreneurial Environment: Identify and discuss Five Critical/Key Success Factors (CSFs) of your idea’s (from HW#1 and/or HW#3) industry. The five CSFs should be obtained from interviewing Five Industry Experts who have knowledge and experience in the industry of your idea. due in 10th Session (02/27/2020)

Special Prct. Assign #3 (Indiv.):Evidence-based Approach to Idea Generat.: (Alternative Ideating Approaches -Starting with a Target Market Segment & Generating or Pivoting to a bus. Idea validated by and for the segment). Refining and/or Building on HW#1 to HW#3? due session 11 (03/03/20)

Complete Class Discussion of Unit 2: Importance of Entrepreneur or Enterpriser, Entrepreneurship and Enterprise in US economy

Idea Generation Videos Assign. in Ensemble? Idea Evaluation (Stanford GSB): http://www.youtube.com/watch?v=gEomG_ffp7Y&playnext=1&list=PLE5F206558B58F27C&feature=results_main In class exercise: Your Bus. Idea and Its Prelim. Evaluation along Personal & Business-Economic Dimensions.

Tues. Feb. 18

7

1 and 5 ~Collect Assigned Individual HW #2: Quest/Search for a business idea or opportunity for own business development: A Problem/Need Sensing & Revenue or Profit-Generating-Solution Search Approach

13

W4-1 ~Collect Team HW#2: Shark Tank Summary#2 due this class ~Assign Team HW#3: Shark Tank Summary#3 due in 9th session (02/25/20) ~Assign Indiv. HW #4: High-Impact Entrepreneurs Insights Video Summary (in Ensemble) due in 9th session (02/25/20) Unit 3: The Entrepreneurial Environment: Contexts Of The Enterpriser, Entrepreneurship And Enterprise: Implications? Expected Learning Outcomes for Unit 3: Upon successful completion of Unit 3, you should be able to: 3-1• Define ‘entrepreneurial environment’ in general, and briefly explain why it is important for enterprisers and other interested parties to understand and take it into account. 3-2• Employ a conceptual framework or model to explain the generalized entrepreneurial environment and its major dimensions including their constituent elements, such as - Spatial or locational dimension - Micro or Task/Operating/Industry/Market dimension - Macro or General dimension and why these dimensions help illuminate entrepreneurship. 3-3• Briefly discuss the “stakeholders” concept, their conflicting interests, and implications, within the entrepreneurial environment. 3-4• Understand and explain the interplay of the entrepreneurial environment and the enterpriser, including ethical considerations or obligations that enterprisers might owe. 3-5• Describe how the entrepreneurial environment generally influences the decisions, actions and undertakings that constitute entrepreneurship 3-6• Describe possible patterns of influences/impacts to expect of the entrepreneurial environment on a nascent or potential enterprise, and discuss some ways of integrating the environmental consideration when designing an enterprise Presentation of The Entrepreneurial Environment & Implications for Enterprise, Entrepreneurship & Entrepreneur

~In-Class Video Reinforcement of Implications of the Entrepreneurial Environment

Thurs. Feb. 20

8 W4-2

~Idea Journal Notation #3 ~Collect Assigned Individual HW #3: Value Proposition Statement; Target Customer & TAM/SAM/SOM definitions ~Assign Indiv. HW #5: Key differences and commonalities between an entrepreneur and a wage-employee as portrayed by Arthur Miller in The Death of a Salesman, (film version starring Dustin Hoffman) due 12th Sess., 03/05/20 ~Assign Indiv. HW#6: "But Will It Fly?" by W. Harrell, due Sess. 13, 03/10/20 Complete Presentation of The Entrepreneurial Environment How I built this Podcast?

Tues Feb. 25

9 W5-1

2, 3 and 12

~Collect Team HW#3: Shark Tank Summary#3 due this class ~Collect Summary of High-Impact Entrepreneurs Insights from Videos (HW #4?) ~ Assign Team HW#4: Shark Tank Summary#4 due sess.11, 03/03/20 Unit 4: Focus on THE BUSINESS ENTERPRISER(S) and INTRAPRISER(S): Creator/Prime-mover/Catalyst/Founder/Builder/ Persona Causa, Change agent/Creative Destroyer/Undertaker/Orchestrator Expected Learning Outcomes for Unit 4: Upon successful completion of Unit 4, you should be able to:

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4-1• Identify, research and discuss facts, relevant to this course, about one contemporary, famous, “high-impact” accomplished-entrepreneurs, and one intrapreneur that you admire. Also discuss the entrepreneur’s mindset, and entrepreneurial paradoxes. 4-2. Document and produce a written report of what a typical day in the life of a bona-fide, real-life, accomplished-entrepreneur (not a manager!) of your choice is like, based on your having spent a day with him/her and observing his/her activities. 4-3. Perform an unscientific measurement of your “entrepreneurial quotient,” to get a rough/crude idea of your propensity to enterprise. 4-4. List some factors hypothesized as affecting the likelihood of entrepreneurial pursuit by individuals, and some factors that prevent others from becoming entrepreneurs. 4-5. Discuss some of the pros and cons of an entrepreneurial career option 4-6. Discuss some of the posited factors of business success (including KSAs) or business failure factors related to individuals or groups of individuals. 4-7. Discuss some of the posited characteristics needed for a person to be a successful intrapreneur or corporate entrepreneur 4-8. Identify, discuss and understand the five questions that Norm Brodsky, of Inc Magazine, suggests should be asked and answered by Would-Be business founders 4-9. List, at least, three major categories of factors that might predispose or potentiate an individual to engage in entrepreneurial behavior. 4-10. List three or four types of needs, discussed in the course, which when combined with predisposing factors in an individual/group, the mix could, possibly, trigger/precipitate/set-off entrepreneurial behavior in the individual or group. Presentation: Focus on Accomplished, Full-Time, High-Impact, Entrepreneurs (What Behaviors characterize/distinguish them?)

~In-Class: Handout Exercise & Discussion: Can you be an entrepreneur? Measuring Your Entrepreneurial Quotient. Other Handout Readings: Some of the characteristics of the successful entrepreneur. Typical Skills Required. Intrapreneur’ s Characteristics: (Case: Brian Ehlers at Apple Computer). Factors Precipitating/Triggering/Catalyzing or Inhibiting Entrepreneurial jump-off points—the external Push/Pull and/or internal pressures. “Inside the Mind of an Entrepreneur, by David Gumpert, at http://www.businessweek.com/stories/2003-07-14/inside-the-mind-of-an-entrepreneur

Thurs. Feb. 27

10 W5-2

~Idea Journal Notation #4 ~ Collect Special Prct. Assign #2: Understanding Business Entrep. Environment & the Implications for an enterpriser, entrepreneurship and enterprise: Focus on Industry Dimension: Identify and discuss Five Critical/Key Success Factors (CSFs) of your idea’s (from HW#4) industry. The five CSFs should be obtained from interviewing Five Industry Experts who have knowledge and experience in the industry of your idea. Complete Presentation: Focus on Accomplished, Full-Time, High-Impact, Entrepreneurs

Tues Mar. 03

11 W6-1

6 & 7

8 & 9

~Collect Team HW#4: Shark Tank Summary#4 due this class ~Collect: Special Prct. Assign #3: Alternative Ideating Approaches (Starting with Target Customer Segmentation) & Testing Your Idea’s assumptions with the live hypothesized target, or pivoting, possibly, to idea coaxed from the potential customer. Refining and/or Building on Indiv. HW#1 to HW#3? ~Assign Team HW#5: HW YYY Start-up Bus. Plan Case Analysis due session 14, 03/12/20 Upon successful completion of this case analysis, you should be able to: More critically and perceptively review and assess a business plan, and gain more insight into certain types of pitfalls/errors to avoid when crafting an externally directed business plan.

15

Unit 5: General Intro to THE ENTREPRENEURSHIP PROCESS PHASES: Expected Learning Outcomes for Unit 5: Upon successful completion of Unit 5, you should be able to: 5-1. Define business entrepreneurship as practice 5-2. List the typical modes of business entry by individuals in the U.S. as reported in scholarly or governmental surveys. 5-3. Introduce and compare 1) traditional or speculative/assumption-driven and (2) evidenced-driven entrepreneurship processes 5-4. Discuss how evidence-based entrepreneurship might proceed 5-5. Conceptualize (develop a conceptual framework) and explore a select set of possible entrepreneurship process phases (Pre-Concept, Concept, Seed or Resource Gathering, and Startup-Take Off) for a traditional business startup. 5-6. Identify and generally describe constituent elements of each phase. 5.7. Differentiate a business idea or business opportunity from a mere idea 5-8. List several past sources of business ideas, and sort them into: replicative/imitative, creative/innovative, and inventive/breakthrough/revolutionary. 5-9. Accentuate a central tenet for an idea for a reciprocal value exchanging business enterprise, which (tenet) is: Problem/Need…& Solution match with a patronizing target. 5-10. Undertake a “deliberate search” for potential business/venture ideas. Generate a number of potential venture ideas, filtering them through a “quick” preliminary screen and ranking them based on the interaction of your personal objectives and each idea’s business potential. 5-11. Understand how to obtain or access a comprehensive set of guidelines for conducting a more in-depth feasibility assessment of a potential venture idea which ranks very high in the preliminary screening above. Specifically, do an in-depth assessment of the top-ranking idea, that you generated above, with respect to: (a) Personal/Internal Feasibility, (b) Functional/Technical Feasibility, (c) Venture Economics, and (d) Contextual/Environmental Feasibility 5-12. Investigate your initial business model’s feasibility in the light of the business’ industry/market/competition assessment and decide whether to “go/no go” and if “go,” to pull all this together in a business proposal or plan. Conceptual model of an enterprise ecospace addressed by the business model Presentation: Multi-Facetedness of E-ship Construct: Economic/Business; Social/Cultural/Environmental; and Policy/Political. Different Practices of E-ship: Productive vs Unproductive. One-way value-exacting, extracting, capturing business e-ship vs Reciprocal value exchanging business e-ship. FOUNDATIONS OF A RECIPROCAL-VALUE-EXCHANGING, START-FROM-SCRATCH BUSINESS E-SHIP: E-ship Process Phases for a Start-from-scratch reciprocal value exchanging business. Rationale for Comprehensive Bus. Planning: the next best thing to going through actual business creation process--(Front-stage & Back stage Planning). Video: Tools for Business Model Generation (Alexander Osterwalder)

Thurs. Mar. 05

12 W6-2

~Idea Journal Notation #5 ~Collect Indiv. HW #5: Key differences and commonalities between an entrepreneur and a wage-employee as portrayed by Arthur Miller in The Death of a Salesman, (film version starring Dustin Hoffman) Continue Unit 5: General Intro to THE ENTREPRENEURSHIP PROCESS PHASES

Tues Mar. 10

13 W7-1

6 & 7

8 & 9

~Collect Individual HW#6:"But Will It Fly?" by Wilson Harrell (see INC.Magazine, January 1987, p.85: http://www.inc.com/magazine/19870101/5506.html due this class

~Assign Indiv. HW- "Front Stage" Plan : due session 16, (03/19/20) (First Part of Aspects of Business Proposal or Plan based on Refined Indiv. HW#1 to HW#3 synthesis?): Address in detail the areas listed in Learning Objective 6-5, below. Assume that the proposal or plan is to be used to seek external funding. (Additional details to be provided in class).

16

Assign Indiv. HW-The Back-Stage Plan...due session 20, (04/09/20) (Write up the first draft of backstage proposal or plan based on the business idea of Session 6 above. Address in detail the areas listed in Learning Objective 6-6, below. Assume that the proposal or plan is to be used to seek external funding. Additional details to be provided in class

Unit 6-A: Intro to Generalized Planning & Proposal or plan for a Startup Business Enterprise: The Front-stage Planning & Plan “MAKE NO LITTLE PLANS…!” --Daniel H. Burnham, American Architect.

Expected Learning Outcomes for Unit 6: Upon successful completion of Unit 6, you should be able to: 6-1. Explain why enterprisers should undertake business planning even though no one could really predict the future, and changed conditions could invalidate a plan 6-2. Understand that there is no “one size fits all” with regard to business planning and plans. The planning depends on the type of venture desired, the purpose for which the resulting plan would be used, and what information is desired/sought by the target addressed. 6-3. Explain internal and external uses of a business proposal or plan 6-4. List typical major components or sections, commonly found in the literature, of externally directed business proposals or plans. 6-5. Utilize information developed during the earlier feasibility assessment and write up sections, as indicated below, of a business proposal or plan externally directed to potential suppliers of financing for your proposed venture: (A) Description of your proposed enterprise including, its legal form, target customer’s need or “pain” point, the compelling product/service/value proposition… the entity proposes to solve it, and the goals/objectives of the enterprise. (B) Descriptive analysis of the entrepreneurial environment, including the macro and micro-industry/market, along lines presented in the course, and the business model. (C) The Marketing and Sales Plan. Variations on the Theme of Business Plan/Planning: There’s always a plan: unwritten vs written. Comprehensive vs Ad Hoc. Alternatives: The Bus. Model Canvas; Pitch Deck; Feasibility Report(see GwB pp.413-418) In-Class Presentation: Walk through Requirements for Indiv. HW- The "Front Stage" Planning and Plan

Thurs. Mar. 12

14 W7-2

~Idea Journal Notation #6 ~Collect Team HW#5: HW YYY Start-up Business Plan Case Analysis ~Assign Team HW#6: Shark Tank Summary#5 due sess.17, 03/31/20 ~Special Prct. Assign #4: (Team) To be Done In-Class? (Choosing Team’s focal Market Segment AND what need/problem (hypothesized) to seek to profitably solve for the segment)

~ Legal Structure Podcast (Summarize in class, or at home, due Sess.17)

~Reminder and Discussion of In-Class (Open Book) Exam to take place next class on Gartner w/Bellamy Chapters 1,2,3,5,6,7 and 8

Tue Mar. 17

15 W8-1

COMPREHENSIVE IN-CLASS (Open Book) EXAM #1 taken from Gartner w/Bellamy Chapters 1,2,3,5,6,7 and 8

Thurs. Mar. 19

16 W8-2

~Idea Journal Notation #7

Collect "Front Stage" Plan HW (First Part of Aspects of Business Proposal or Plan) due this class

Progress Report #1

Return & Discuss (if necessary) Team HW#5: HW YYY Start-up Business Plan Case Analysis collected in the preceding class

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If necessary, complete Special Prct. Assign #4 (Team) In-Class? (Choosing Team’s focal Market Segment AND what need/problem (hypothesized) to seek to profitably solve for the segment)

Tues. Mar. 31

17 W9-1

~Collect Team HW#6: Shark Tank Summary#5 due this class

~Collect Indiv. Legal Structure Podcast Summary due this class

~Assign Team HW#7: Shark Tank Summary#6 due sess.19, 04/07/20

Unit 6-B: Intro to Generalized Planning & Plan for a Startup Business Enterprise: The Back-Stage Planning & Plan—Operating, Personnel and Organizational…Planning Upon successful completion of this section of Unit 6, you should be able to: 6-6. Utilize information developed during the earlier feasibility assessment and write up sections, as indicated below, of a business proposal or plan externally directed to potential suppliers of financing for your proposed venture: (A) Operating (Production or Service) plan. (B) Organizational and Staffing plan. (C) Research & Development, Risk Management, Contingency. (D) Milestone Schedule . Hints for completing HW-The Back Stage Plan In-Class Presentation: The "Back Stage" Planning & Plan: Operating, Personnel, Legal Format, Organizational & Startup Cost/Funding Planning

Thurs. Apr. 02

18 W9-2

Idea Journal Notation #8

Continue The Back Stage Planning & Plan—Operating, Personnel and Organizational…Planning

Tues. Apr. 07

19 W10-1

~Collect Team HW#7: Shark Tank Summary#6 due this class ~Assign Indiv. HW#9: Business Entry via Outright Purchase: The Drix Niemann Case due next class ~Assign Special Prct. Assign #5: (Team) Confronting idealized, potential buyers with team’s idea for a business targeting them. (Applying Validation Board approach to testing a possible fit between the chosen market segment’s hypothesized need/problem and the Team’s proposed solution to it…”Get out of the building…”?) Questions, Pivot Ideas, etc. Discuss in class of sess. 21 (04/14/20) Complete In-Class Presentation: The "Back Stage" Planning & Plan: Operating, Personnel, Legal Format, Organizational & Startup Cost/Funding Planning

Unit 7: Focus on THE ENTERPRISE UNDER DESIGN, OR THE NASCENT ENTERPRISE Upon successful completion of Unit 7, you should be able to: 7-1. Discuss the types of enterprises to set-up, in terms of: (a) legal format (Framework for Understanding Choice of An Enterprise Legal Format), and the bureaucratic formalities to be followed; (b) potential impact—low-impact vs high-impact (of mice, gazelles, and elephants); (c) mechanisms and arrangements not requiring the formation or establishment of an entity 7-2. View the potential enterprise in terms of an input-output system, and understand the system elements as corresponding to elements of the internal environment of the enterprise, which embody its strengths and weaknesses. 7-3. Discuss how the potential/nascent enterprise can interact with its external environment; how it can manage conflicting interests of its stakeholders, and evolve strategies for competing. 7-4. Understand the bounds of entrepreneurship for an actualized business idea, or a successful business startup: IPO, harvest, or attainment of self-sustaining operational status—what begins also ends.

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7-5. Understand the implications of the life-cycle stages that the enterprise could face, and what are some of the suggested ways of navigating through their critical inflection points.

Thurs. Apr. 09

20 W10-2

~Idea Journal Notation #9 ~Collect Indiv. HW-The Back-Stage Plan...due this class. ~Assign Team HW#8: Shark Tank Summary#7 due next class In-Class Videos: Tim Berry's "SBA Business Plan Webinar" Parts 6 & 7 on Financial Planning ~Hand out directions for either (1) Integrated Business Proposal/Plan or (2) Power Point Presentation of a Proposal/Plan due in Sess.26, April 30, 2020

Tues. Apr. 14

21 W11-1

4 ~Collect Team HW#8 due today

~Assign Team HW#10: Shark Tank Summary#9 due next class ~Reminders of: Portfolio due next class. If possible, oral presentation of the business proposal/plan begins next class ~Special Prct. Assign #6 (Team) To be Done In-Class? Questions, Pivot Ideas, etc. Discussion arising from confronting target with team’s ideas for business…What to do next?

Unit 8: Intro to Generalized Planning & Plan for a Startup Business Enterprise: The Financial and Financing Plan

Upon successful completion of this section of Unit 6, you should be able to:

8-1. Write the financial section of a business proposal or plan that is externally directed to potential suppliers of financing for your proposed venture, by using a Microsoft Excel-based template in which you enter financial data that are specific to your proposed business enterprise, and producing projected financial statements (Income Statement, Balance Sheet and Cash Flow), which are critical complements of the business proposal or plan. 8-2. Observe presentations of financial forecasting for a startup by the (1) Benchmarking to industry average, and (2) Building from scratch, methods 8-3. List several potential sources of funding for a startup.

Thurs. Apr. 16

22 W11-2

~Idea Journal Notation #10 ~Collect Team HW#10: Shark Tank Summary#9 due this class

Unit 9: Focus on THE ENTREPRENEURSHIP PROCESSES for Going into Business through Purchasing and/or Franchising. Upon successful completion of Unit 8, you should be able to: 9-1. List possible sequence of Steps in An Outright Purchase of an Existing Business Entity, from The Drix Niemann Case 9-2. Discuss the advantages and drawbacks of business entry through franchising, as opposed to starting from scratch or outright purchase. 9-3. Understand how to learn about owning/operating a specific franchise. 9-4. Explain what is the Uniform Franchise Offering Circular (UFOC). 9-5. Understand what are the “usual” ways a franchisor receives payment.

Tues. Apr. 21

23 W12-1

10 & 11 Conclude Business ownership through Purchasing & Franchising. Unit 10: Managing and Growing/Scaling the new venture, and/or How to Present a Business Plan (Hand out written guidelines)

Designate and hand out additional written instructions/guidelines for the selected option (i.e., Option I or Option II or Option III (see p.6 above)) due session 26, on April 30, 2020.

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(Note: If Option III route is taken, the revised scores to be recorded for grade purposes will be 60% of original HW-Front Stage and HW-Backstage scores plus 40% of the stand-alone scores attributed to the revised HW-Front Stage and HW-Backstage ).

Thurs. Apr. 23

24 W12-2

~Collect Summary of best five notated idea Journal entries (follow provided instructions) ~Special Prct. Assign #6 (Team) To be Done In-Class? Debriefing: Takeaways from Special Practicum about real life e-ship?

Tues. Apr. 28

25 W13-1

10 & 11 If you did not take exam #1, this is the day to make it up. Oral Presentations of Business Proposal or plan

Thurs. Apr. 30

26 W13-2

~Collect (1) Integrated Business Proposal/Plan or (2) Power Point Presentation of a Proposal/Plan due this class NOTE: Required written portfolio is due next class Oral Presentations of Business Proposal or plan

Tues. May 05

27 W14-1

Return Graded Business Proposal or plans. Last day to submit the required portfolio of all your written work (including parts of the business proposal or plan) showing scores given by the teacher during the semester, and your summaries. Elaborated discussion of the portfolio assignment is appended to the hard copy of this syllabus which is distributed in class Oral Presentations of Business Proposal or plan

Thurs May 07

28 W14-2

Oral Presentations of Business Proposal or plan Last day of regular classes

Thurs. May 14

29 FINAL EXAMINATION on chapters 4, 9, 10, 11 and 12. Time is during the CEP period of 09:40 am – 11:30 am. Return all submitted and assessed written portfolios

1 Certified Public Accountant 2 Chartered Global Management Accountant 3 Although this course, by intent and design, will focus on the business creating and/or reviving connotations of entrepreneurship, the student should be aware that there are other connotations of the term, and that presuming that entrepreneurship only relates to business formation is erroneous--has no universal support. 4 According to Arnold Cooper, “Public interest in entrepreneurship has never been higher…The extent to which entrepreneurship has captured the public imagination is illustrated in that well-known academic publication, USA Today. It surveyed young people, asking if they could devote one year to any occupation, what would they choose? For the women, 47% chose entrepreneur, more than tour guide or novelist. For the young men, 38% chose entrepreneur, even more than professional athlete. Increasingly, in many countries entrepreneurs are becoming ‘folk heroes.’”---Arnold Cooper, “Entrepreneurship: The Past, the Present, the Future,” in Z.J. Acs and D.B. Audretsch (eds), Handbook of Entrepreneurship Research, Kluwer Academic Publishers, 2003, pp27-28. 5 See Webster’s Third New International Dictionary of the English Language (Unabridged), 1993 6 See Casson, M. and Casson, C. “The history of entrepreneurship: Medieval origins of a modern phenomenon,” which appeared in Business History, 56:8, 2014: 1223 7 Hebert R.F. and Link, A.N., 1989. “In Search of the Meaning of Entrepreneurship,” in Small Business Economics 1:39-49 8 see Filion, Louis Jacques. “Defining the Entrepreneur Complexity and Multi-Dimensional Systems: Some Reflections,” Working Paper #2008-03. (Montreal CA: HEC) 2008. 9 See https://www.dictionary.com/browse/entrepreneur (accessed June 17, 2019) 10The following brief background on the Gallo/(Franco)-Roman historical relationship is found in Wikipedia: “Around 125 BC, the south of Gaul was conquered by the Romans, who called this region Provincia Nostra ("Our Province"), which over time evolved into the name Provence in French. Julius Caesar conquered the remainder of Gaul and overcame a revolt carried out by the Gallic chieftain Vercingetorix in 52 BC. According to Plutarch and the writings of scholar Brendan Woods, the Gallic Wars resulted in 800 conquered cities, 300 subdued tribes, one million men sold into slavery, and another three million dead in battle…Gaul was divided by Augustus into Roman provinces. Many cities were founded during the Gallo-Roman period, including Lugdunum (present-day Lyon), which is considered the capital of the Gauls. These cities were built in traditional Roman style, with a forum, a theatre, a circus, an amphitheater and thermal baths. The Gauls mixed with Roman settlers and

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eventually adopted Roman culture and Roman speech (Latin, from which the French language evolved).” Source: https://en.wikipedia.org/wiki/France (accessed 06/06/2019) 11 A possible third broad type of use of entrepreneurship is metaphorical-figurative,… in a comparative sense as a frame of reference, benchmark, standard or model after which to pattern non-entrepreneurial behaviors. as, for example: ‘You should run the government… or office… like an entrepreneur or like a business. Inject an innovative, entrepreneurial thinking into… 12 Katz, J.A. (2003). “The chronology and intellectual trajectory of American entrepreneurship education, 1876-1999.” Journal of Business Venturing.18(2): 283-300. “… ‘entrepreneurship’ refers to a collection of academic disciplines and specialties including entrepreneurship, new venture creation, entrepreneurial finance, small business, family business, free enterprise, private enterprise, high-technology business, new product development, microenterprise development, applied economic development, professional practice studies, women's entrepreneurship, minority entrepreneurship and ethnic entrepreneurship. The advantage of the term as used here is that it is very similar to the way the general public views entrepreneurship and its myriad subspecialties—i.e., as one field.” 13 In Shane’s and Venkataraman’s (2000), view, “the field of entrepreneurship involves the study of sources of opportunities; the processes of discovery, evaluation, and exploitation of opportunities; and the set of individuals who discover, evaluate, and exploit them,” whereas, to Filion, Lous Jacques, “entrepreneurship is the field that studies entrepreneurs, entrepreneurial actors and entrepreneurial environments”—see Filion, Louis Jacques. “Defining the Entrepreneur Complexity and Multi-Dimensional Systems: Some Reflections,” Working Paper #2008-03. (Montreal CA: HEC) 2008. 14 See Balven, Fenters, Siegel and Waldman, “Academic Entrepreneurship: The Roles of Identity, Motivation, Championing, Education, Work-Life Balance, and Organizational Justice,” in Academic of Management Perspectives, 2018, Vol.32, No.1 p.26: “A professor may not identify as being an entrepreneur, or if that identity does exist, it may be subordinate to that of being a researcher or faculty member.” 15 Gartner, W.B. (1989). “’Who is an entrepreneur?’ Is the wrong question.” In Entrepreneurship: Theory & Practice. (Summer), pp.47-68 16Yeats, W.B. (1956). Among school children. In The collected poems of W.B. Yeats. New York: Macmillan 17 See Kilby, Peter, Hunting the Heffalump (1971). Entrepreneurship and Economic Development, 1971, p.4 18 Shane has argued, in A General Theory of Entrepreneurship: The Individual-Opportunity Nexus, 2003 pp7 and 224, that entrepreneurial opportunities can be exploited by founding a firm (organization) or through the use of market mechanisms that do not require setting up an organization/firm structure. 19 Baumol, W.J. “Entrepreneurship: Productive, unproductive and distructive,” in Journal of Political Economy, 98, 893-921. 20 See Acs, Z.J. and Audretsch, D.B. (eds.) Handbook of Entrepreneurship Research, (Kluwer Academic Publishers), 2003 p.5 21 See Reynolds, P.D. and Curtin R. T. "Business Creation in the United States: Entry, Startup Activities and the Launch of New Ventures,” in The Small Business Economy: A Report to the President, 2008. (Washington, D.C.: US General Printing Office), 2009 p.173. Also, Reynolds, P. “Reducing barriers to understanding new firm gestation: Prevalence and success of nascent entrepreneurs.” Paper presented at the annual meeting of the Academy of Management, Dallas Texas, 1994. 22 In an announcement by SUNY-Buffalo State’s provost, titled “New Instructional Modality Definitions for All Courses,” and dated Monday, February 29, 2016, in a “traditional” course, “all course activity (is) organized around scheduled class meetings, which may be complemented with web-enhanced online course activity.” 23 The Global Entrepreneurship Monitor: 2004 Executive Report, p.13 24 See the December 1987, edition of Management Science 25 This instructor’s experience is that make-ups have become too unwieldy, extremely time consuming and stressful to manage, in any way. When several students need to make up different assignments in this course in which more than one homework is assigned every week, either answers to the graded assignments or scores received in them cannot be divulged at all since that gives those making it up an undue advantage, and thus inadvertently rewards and promotes tardiness. Alternatively, the instructor becomes inundated/overwhelmed with designing and managing alternative assignments, and/or becomes ensnared endlessly responding to (1) questions and interrogation of their comparability with the original assignment, or (2) accusations that the make-ups are, patently, unfair to one group of students or another. Make-ups seem to have become the proverbial “ill-wind that blows nobody any good;” it seems to benefit only non-conformity. 26 Knott, Anne Marie. Venture Design, (New York: Entity Press, 2001), p.2 27 Compare Richard B. Chase. “Where Does the Customer Fit in a Service Operation? Harvard Business Review, Nov. 1978