The course addresses management challenges associated with starting and successfully running a new venture. The objectives of the course are: (1) To develop an awareness of the range, scope, and complexity of the phenomena, issues, and problems related to entrepreneurship; (2) To develop insights into the conditions under which particular structural arrangements and systems are likely to facilitate entrepreneurship; (3) to understand the role of entrepreneurs in developing a business opportunity; (4) to investigate the primary tasks and decisions that are required to turn an idea into a sound business opportunity; (5) to learn how business plans are created to define the business opportunity; (6) to discuss common problems faced in implementing a plan for a new business opportunity either in a new firm or in an existing firm. This course will provide a comprehensive and cross-disciplinary perspective on the main problems, perspectives, and practical opportunities associated with innovation, entrepreneurs and organizational change.
Entrepreneurship (MGMT 402)
| Programs\Type | Required | Core Elective | Area Elective |
| Energy Minor | * | ||
| Entrepreneurship Minor | * | ||
| Management | * | ||
| Management | * |
CONTENT
OBJECTIVE
The course addresses the management challenges associated with starting and successfully running a new venture. We will introduce a mix of approaches and techniques that promote innovative thinking and entrepreneurial behavior in organizations. The main bulk of the course examines the phenomenon of entrepreneurship. Theoretical models and actual examples emphasize how technological and organizational systems are key components of an "entrepreneurial mindset". We will also discuss the phenomenon of ?intrapreneurship,? in other words entrepreneurship within established firms. The focus will be on tactics and strategies that encourage innovation and entrepreneurship within (and between) organizations. The subject will highlight critical success factors for both new and established firms, and also how interorganizational activities shape markets and opportunities.
LEARNING OUTCOMES
- Upon completion of this course, students will be able to: 1. Identify the entrepreneurship concept and process, 2. Create a vision for a business, and define the size of the opportunity, 3. Create an innovative value-strategy to capture or create a mass market, 4. Analyze the feasibility of the opportunity using strategy maps and risk management, 5. Create a profit/business model to generate and capture profits, 6. Design the internal processes required to deliver the value proposition, 7. Create a quantitative sales model to verify feasibility of the business, 8. Create a plan to go to market and overcome customer resistance, 9. Describe the startup financing process, and how to construct the financial deal (term sheet), 10. Develop and present in class a business plan (using PowerPoint) and prepare an Executive Summary (using Word) that can be used to attract financing for the startup company.
PROGRAMME OUTCOMES
1. Understand the world, their country, their society, as well as themselves and have awareness of ethical problems, social rights, values and responsibility to the self and to others. 3
2. Understand different disciplines from natural and social sciences to mathematics and art, and develop interdisciplinary approaches in thinking and practice. 4
3. Think critically, follow innovations and developments in science and technology, demonstrate personal and organizational entrepreneurship and engage in life-long learning in various subjects; have the ability to continue to educate him/herself. 4
4. Communicate effectively in Turkish and English by oral, written, graphical and technological means. 5
5. Take individual and team responsibility, function effectively and respectively as an individual and a member or a leader of a team; and have the skills to work effectively in multi-disciplinary teams. 5
1. Possess sufficient knowledge of mathematics, science and program-specific engineering topics; use theoretical and applied knowledge of these areas in complex engineering problems.
2. Identify, define, formulate and solve complex engineering problems; choose and apply suitable analysis and modeling methods for this purpose.
3. Develop, choose and use modern techniques and tools that are needed for analysis and solution of complex problems faced in engineering applications; possess knowledge of standards used in engineering applications; use information technologies effectively.
4. Have the ability to design a complex system, process, instrument or a product under realistic constraints and conditions, with the goal of fulfilling specified needs; apply modern design techniques for this purpose.
5. Design and conduct experiments, collect data, analyze and interpret the results to investigate complex engineering problems or program-specific research areas.
6. Possess knowledge of business practices such as project management, risk management and change management; awareness on innovation; knowledge of sustainable development.
7. Possess knowledge of impact of engineering solutions in a global, economic, environmental, health and societal context; knowledge of contemporary issues; awareness on legal outcomes of engineering solutions; knowledge of behavior according to ethical principles, understanding of professional and ethical responsibility.
8. Have the ability to write effective reports and comprehend written reports, prepare design and production reports, make effective presentations, and give and receive clear and intelligible instructions.
1. Have an understanding of economics and main functional areas of management 3
2. Have a basic all-around knowledge in humanities, science, mathematics, and literature 4
3. Have a basic knowledge of law and ethics, awareness of social and ethical responsibilities 3
4. Work effectively in teams and environments characterized by people of diverse educational, social and cultural backgrounds 4
5. Demonstrate proficiency in oral and written communications in English 5
6. Pursue open minded inquiry and appreciate the importance of research as an input into management practice; thus, a.know how to access, interpret and analyze data and information by using current technologies b.use the results from analyses to make informed decisions 5
7. Use office softwares for written communication, presentation, and data analysis 5
8. Demonstrate awareness that business settings present different opportunities and challenges for managers due to environmental/contextual differences that arise in economic, political, cultural, legal-regulatory domains 2
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ASSESSMENT METHODS and CRITERIA
| Percentage (%) | |
| Midterm | 30 |
| Participation | 10 |
| Individual Project | 35 |
| Group Project | 25 |
RECOMENDED or REQUIRED READINGS
| Readings |
Timmons, J. A. and Spinelli, S., 2004, New Venture Creation: Entrepreneurship for the 21st Century. 6th edition. Boston: Irwin- McGraw Hill. |