1. MBAX 6100 Entrepreneurship & Small Business Management
Frank Moyes Leeds College of Business
University of Colorado Boulder, Colorado
Introduction to Entrepreneurship

2. Today’s Agenda Introductions Course organization
Nature of entrepreneurship
Role in society
Defining Entrepreneurship
Discussion of venture ideas
Introduction to Entrepreneurship

3. Objectives of the Course
Learn how to recognize and evaluate business opportunities
Understand the issues faced by entrepreneurs who want to start their own business.
Acquire skills and tools required to start a business.
Determine your own potential to be an entrepreneur
Introduction to Entrepreneurship

4. Really Understand What is a compelling Opportunity/Need
How to determine the Value Proposition
Product/Service
Target market
Unique benefit
What is a sustainable Competitive Advantage
How to gauge the Profitability of a new venture
Introduction to Entrepreneurship

5. Required Materials
Bygrave & Zacharakis, The Portable MBA in Entrepreneurship
Mullins, The New Business Road Test
Course Packet
Hand-outs in class: various articles and reading materials
Introduction to Entrepreneurship

6. Communications frank.moyes@colorado.edu
Office Hours: Business Room 328A
Monday 4:00to 6:00pm
Wednesday 4:00 to 5:30
And by appointment
Website:
Communications: List Serve
Introduction to Entrepreneurship

7. Course Organization Entrepreneurship concepts, practices and tools
Case studies
Speakers
Evaluation & grading
2 projects
Entrepreneur interview
Feasibility Plan
Mid-term exam
Class participation
Expectations
Introduction to Entrepreneurship

8. Course Topics What is entrepreneurship & do you have the right stuff?
Course Topics
What is entrepreneurship & do you have the right stuff?
Recognizing good opportunities
Corporate entrepreneurship
Funding entrepreneurial ventures
Legal issues that entrepreneurs should worry about
Managing growth
Harvesting
Entrepreneurial ethics
Introduction to Entrepreneurship

9. What is Entrepreneurship?
Introduction to Entrepreneurship

10. Historical Definition
French term: people who provide men and materials to feudal lords.
Introduction to Entrepreneurship

11. Timmons's Definition
“Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it , regardless of resources presently controlled.”
Jeffrey Timmons
Introduction to Entrepreneurship

12. Timmons's Definition
“Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it ,regardless of resources presently controlled.”
Jeffrey Timmons
French term: people who provide men and materials to feudal lords.
Introduction to Entrepreneurship

13. Economist’s Definition
“The entrepreneur is the innovator who implements change within markets through the carrying out of new combinations.” Schumpeter(1934)
Later he calls it “creative destruction”. What does he mean?
Introduction to Entrepreneurship

14. Poetic Definition
“Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.”
Unknown Source
Introduction to Entrepreneurship

15. Poetic Definition
“Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.”
Unknown Source
Introduction to Entrepreneurship

16. Who Are Entrepreneurs?
“ Some are eccentrics; some painfully correct nonconformists; some are fat, some are lean; some are warriors, some relaxed; some drink quite heavily, others abstain; some have great charm or warmth; some have no more personality than a frozen mackerel.”
Peter Drucker
Introduction to Entrepreneurship

17. Who Are Entrepreneurs?
“Entrepreneurs are societies rejects, instead of becoming hobos, criminals or professors, the start their own business.” Thereau
Introduction to Entrepreneurship

18. Corporate Entrepreneurship
“Formal or informal activities aimed at creating new businesses in established companies through product and process innovations and market developments.” Zahra
“…centers on reenergizing and enhancing the firm’s ability to acquire innovative skulls and capabilities.” Morris & Kuratko
“Cost-effective innovation or intrapreneurship” Pinchot
Introduction to Entrepreneurship

19. Corporate Entrepreneurship
“Formal or informal activities aimed at creating new businesses in established companies through product and process innovations and market developments.” Zahra
“…centers on reenergizing and enhancing the firm’s ability to acquire innovative skulls and capabilities.” Morris & Kuratko
“Cost-effective innovation or intrapreneurship” Pinchot
Introduction to Entrepreneurship

20. Next Class Tuesday Section
Entrepreneurial Manager
Assignment:
Read B-Z Chapter 1 - The Entrepreneurial Process
Read M Chapter 6 – Mission, Personal Aspirations & Risk Propensity
Crunch case study
Questions to think about for next week
Think of an entrepreneur that you know personally. What makes him or her an entrepreneur?
Was Mother Theresa an entrepreneur?
Introduction to Entrepreneurship