BABSON EPS DEVELOPMENT EXPERIENCE
CXD1201 BABSON ENTREPRENEUR DEVELOPMENT EXPERIENCE
4 credits - general credit
Develop your skills as a passionate, self-motivated entrepreneur within a close-knit driven community. If you already have an idea that you want to grow, this is the program to help make that happen. Don't have an idea? You'll learn to identify opportunities and act on them.
In the classroom, you will learn how to grow your commercial or social venture and develop tools and resources for your business. Most significantly, through lessons of corporate citizenship, you will discover how your business ideas fit into the greater world picture.
Attend engaging classroom discussions, collaborate across businesses and meet with business leaders and Babson undergraduate and graduate student mentors.
Discovering how to position your business idea into the greater world picture through corporate citizenship and business development is the primary objective of EPS1501. The feasibility of the right business idea and learning to identify opportunities and the methodology to successfully act on them. Classroom activities and discussion will focus on learning how to grow your commercial or social venture, and to develop tools and resources for a business.
Each student will acquire a unique understanding of the entrepreneurial process - a process of opportunity recognition, resource marshalling, and team building driven by business methodologies in idea generation, feasibility analysis and business plan communications.
ENTREPRENEURSHIP AND OPPORTUNITY
EPS3501 Entrepreneurship and Opportunity
EPS3501, EPS3502, EPS3503, EPS3530 and BRC3501 are equivalent courses. Students can take only ONE of these courses.
This course concentrates on identifying and evaluating opportunities for new business. The primary purpose is to investigate concepts tools and practices associated with identifying or creating new venture opportunities. Students will explore ways to shape and evaluate the viability of these opportunities by understanding key industry factors, market and competitive factors and customer needs. Students will gain a better understanding of personal entrepreneurial capacity, team building and management, and are augmented with readings, guest speakers, videos, and software simulations. Student teams will do at least two opportunity feasibility assessments.
Prerequisites: SME2021 and SME2011 and SME2031
NEW TECHNOLOGY VENTURES
New Technology Ventures
EPS3501, EPS3502, EPS3503 and BRC3501 are equivalent courses. Students can take only ONE of these courses.
Creating a new venture that has technology as a basis for its products or services presents special challenges. On one hand is the "push" of new technology, as evidenced by the plethora of scientific invention and technological innovation. On the other hand is the "pull" of the market as it presents new entrepreneurial opportunities. Other key challenges present themselves in areas of intellectual property protection, team building and funding opportunities. In this course we will explore entrepreneurship in technology industries in depth with the hope of penetrating the popular veneer, and uncovering the guts of starting a growing new technology ventures. Of course, there is a lot about new technology venturing that is common to all new venture creation, and also the qualities entrepreneurs demonstrate are valuable in a wide spectrum of life's activities.
A unique aspect of this course is its desire to include students from both Babson as well as the F.W. Olin College of Engineering. Particular value from this intermingling will be evidenced in the true interdisciplinary nature of the course field project teams that are formed, and the ability for students to begin to develop networks of relationships outside their individual domains of business or engineering.
Primary Course Objectives:
1. To investigate the components, tools, and practices of technology entrepreneurship: identifying new venture opportunities, evaluating the viability of a new business concept, calibrating risk of successful technology development, protecting intellectual property, building a team that possesses the attributes necessary for success, obtaining appropriate financing, writing a business plan, and developing an investor presentation, creating an entrepreneurial culture that increases the odds of success, and creating liquidity for shareholders.
2. To identify and exercise entrepreneurial skills through classrooms debate and assignments.
3. To introduce students to a variety of technology entrepreneurs. Case studies are used as tools for discussion, and are augmented with readings and guest speakers.
The core project for this course will be the development of a technology based business plan. Students will form teams to explore a business opportunity, and develop a business plan and investor presentation.
FUTURE TRENDS AND EPS VENTURES
EPS3504 Future Trends and Entrepreneurial Ventures
5 credits - general credit
This course is designed to provide a strategic decision-making, future-oriented perspective in Entrepreneurship for undergraduate students interested in Entrepreneurial Thought & Action methods used by start-up, early stage ventures, and corporations that practice innovation. We explore Entrepreneurial Thought & Action techniques for looking at the future including scenario planning, key-trend impact analysis, systems thinking, and experiencing the gestalt of the future. Students will develop an understanding of the future that applies to her/his own entrepreneurial leadership vision, identify Key Future Factors (KFF) that allow entrepreneurial leaders to address customer needs currently unmet, identify trends and systems key to developing opportunities scalable into large markets, and develop an action approach to scale an opportunity with an assessment of future trends and markets.
GREAT EPS WEALTH:CREATION,PRSV,DEST
EPS3505 Great Entrepreneurial Wealth: Creation, Preservation and Destruction
This course will explore the stages of great entrepreneurial wealth creation, preservation and destruction. Topics will cover geographical and sector concentrations of great wealth formation, along with socio and economic conditions prevailing at the time of generation. Particular emphasis will cover the detailed paths of notable entrepreneurs from the past century, along with the ethical dilemma and social contributions attributed to each of them. The course also discusses the rise and fall of great family dynasties in the section of wealth destruction.
Current practice of wealth generation, preservation and destruction methodologies will be reviewed, covering hedge funds, family offices and entrepreneur impropriety. Participants of this course will be expected to enhance skills in identifying market opportunity and wealth generation techniques as well as gain greater insight on interpersonal and market forces that contribute to wealth evaporation. Ethical dilemma, including a thorough discussion of high profile industry scandals, will be explored along with factors contributing to fraud and investor impropriety
EPS AND NEW VENTURES IN CHINA
EPS3508 Entrepreneurship and New Ventures in China
4 credit general credit
Offered to students in the BRIC Program.
BE THE CHANGE:EVALUATING SOCIAL IMPACT
EPS3514 Be the Change: Evaluating Social Impact
2 credit - general credit
This is a required course for Ted Grossman and Natalie Taylor Scholars. The course is designed to help students frame and evaluate a number of questions and topics within the realm of social change. In doing so, we will explore the methods of making change and those players that make it happen. We will identify tools to use in evaluating the potential, progress and impact of nonprofits and change by studying specific organizations and change makers throughout history. We will discuss moral and ethical questions that face non-profits, social enterprises and social entrepreneurs and explore motivation, approach and best practices as it applies to social change makers. These discussions will mold our evaluation and exploration of the skill set necessary to implement one's passion for social change into one's future. Students who are not Grossman/Taylor Scholars should contact the course instructor before registering.
Prerequisite: RHT and SME
Prerequisite: RHT and SME
4 credit general credit
This hands-on workshop gives students the opportunity to plan a crowdfunding campaign for a creative project or entrepreneurial venture. Online crowdfunding builds community around innovative projects by organizing stakeholders and leveraging in-person and online social networks. Goals of crowdfunding include stakeholder alignment, concept testing, product pre-selling and venture de-risking. Students work individually or as part of a team to design a crowdfunding campaign which at students’ discretion may be executed following the workshop. Students are expected to meet high standards and the focal point of the course is the production and refinement of a pitch video developed based on stakeholder engagement and opportunity shaping. The course integrates emerging research on crowdfunding and ongoing developments in the industry.
MANAGING A GROWING BUSINESS
Managing Growing Businesses
This course covers the growth phase of an entrepreneurial business, focusing on the nature and challenges of entrepreneurial businesses as they move beyond startup. The primary task for entrepreneurial firms in their growth phase is to build an organization capable of managing this growth, and then ensure the organization can sustain growth as the market and competitive environment changes. The entrepreneur needs to create a professional organization both responsive to external change and entrepreneurial enough to continually create new businesses through innovative thinking.
Issues of particular importance to rapidly growing companies include: getting the right people and systems in place, managing with limited resources, cash flow planning, leadership and delegation, professional zing the business, turning around a troubled business, establishing and communicating culture, and creating a vision to drive the organization toward the future.
Prerequisites: SME and EPS350%
EPS3532 INTERNATIONAL ENTREPRENEURSHIP
4 credit general credit
This International Entrepreneurship course will explore the many dimensions and challenges of global venture creation and growth. The course offers a framework for understanding the entrepreneurial process in global contexts and exposes students to key issues and problems specific to international ventures. As the world becomes increasingly global, this course hopes to (1) encourage students to consider exploring entrepreneurial activities outside the domestic setting, (2) prepare them to see through a different set of lenses in order to better and more accurately identify vast global opportunities, and (3) equip them with various skills to better meet and tackle complex global challenges.
Prerequisites: SME2021 and SME2031 and SME2011
SCHOLAR IN ACTION EXPERIENCE
EPS3534 Scholar in Action Experience
2 credit - general credit
This two-credit course is designed to help individual students in the Bernon Scholar Program research, draft, and plan, execute, and evaluate a programmatic response to social or community need or concern for which the student is passionate.
This course is accomplished in five parts: Exploration of issue, benchmarking and research of existing responses, planning of student's response, execution of that response and the student reflection on efficiency and effectiveness.
Enrollment by Permission Only
RAISING MONEY-VC AND PRIVATE EQUITY
Raising Money-VC and Private Equity
4 credit (general credit)
This class concentrates on developing a knowledge of the asset classes available for early stage and acquisition funding (both equity and debt). These include money from family and friends, angels (both individual and angel groups), VC funds, private equity, and debt from venture debt funds and special commercial banks. Much of the class is taught from the entrepreneur's perspective, but it will also cover the dynamics of starting and running a VC fund since many of the investor classes rely heavily on the VC when making investment decisions. Case material, lectures, frequent exercises/presentations and guest speakers will provide future entrepreneurs with a detailed understanding of how investors think, analyze and behave.
This understanding is critical so that entrepreneurs can understand the deals they make with investors and how to manage the process to a mutually beneficial conclusion.
MKTG FOR ENTREPRENEURS
Marketing for Entrepreneurs
This course provides an in-depth study of entrepreneurial marketing strategies for the 21st century. It examines how start-up and small/medium-size companies reach the marketplace and sustain their businesses, within highly-competitive industries.
Recognition is given to the need of management to operate flexibly, make maximum effective use of scarce resources in terms of people, equipment and funds, and the opportunities that exist within new and established market niches.
Classes focus on a combination of brief lectures, extensive case study analyses and a term-long group assignment involving student-generated entrepreneurial product or service offerings.
SF2 CONSULTING IN TECH ENTREPRENEURSHIP
EPS4505 CONSULTING IN TECHNOLOGICAL ENTREPRENEURSHIP
4 credit general credit
This variation of the MCFE course provides an excellent opportunity for students to apply the entrepreneurship/business principles that they learn in the classroom to real-world consulting projects. The students gain practical experience by solving actual business situations, dealing with all the ambiguity and uncertainty inherent in fast-moving technical organizations. Students also develop key skills in negotiation, group dynamics, organization, and planning. The San Francisco/Silicon Valley is one region where start-ups are ubiquitous and largely driven by new technology, new social media, and new digital solutions. This course offers students the opportunity to gain hands-on industry experience while working with professionals in this community. Teams of five to seven undergraduate students work as a consulting group for a sponsor company. The students meet with the managers of the company, agree on an issue to address, analyze the problem, and explore possible solutions. The project concludes with the team’s formal recommendations and a presentation to the sponsor company.
EPS4510 Entrepreneurial Finance (formerly EPS3511)
This course focuses on the various aspects of funding and managing entrepreneurial ventures through the various stages of business growth and focuses on understanding business models and kinds of organizations and the various ways these can be financed (i.e corporate, technology, non-profit). Students will learn: 1) the value of pro forma financial planning and what if analysis; b) the various ways to fund and manage the growing firm from inception through harvest with a particular emphasis on deal structure and risk/reward scenarios for different investor types. The class will utilize cases based on real world companies from various industries to cover topics in investment analysis, financing the entrepreneurial firm, managing the growing business and harvesting. Frequent guests ranging from entrepreneurs, private equity venture capital, banking and legal professionals will bring the entrepreneurial experience to life in this course
Prerequisite: SME & EPS3501
This course is typically offered in the following semesters: Spring
AFFORDABLE DESIGN AND ENTREPRENEURSHIP
**Students must be Juniors or Seniors to take this course
EPS4515 Affordable Design and Entrepreneurship
1.4 billion people live on less than $1.25 per day (The Millennium Development Goals Report, 2009). While the problems afflicting the poor are great, there is power in thinking small - how a simple, focused innovation can change an individual life, a personal choice or a system.
Affordable Design and Entrepreneurship (ADE) is an international, experiential social entrepreneurship and design course where students work in partnership with communities in India, Ghana, Morocco and Alabama to co-create and test innovation concepts and sustainable business models. The focus is on income generation and meeting daily human needs through new product and service design and development but the scope considers the cultural appropriateness of design choices and their impact on social venture success. This includes how design can impact the desirability and viability of innovations in different problem-opportunity contexts, examined in the innovation phases of observation, conception, strategic planning and implementation.
A joint offering by Babson and Olin College, the course integrates core elements of user-oriented collaborative design and engineering design with entrepreneurial opportunity shaping and venture strategy. Babson and Olin College students work collaboratively in cross-functional teams to exploit their respective expertise and strengths. Starting with ethnographic research, venture teams collaborate first-hand with local communities on focused issues to identify addressable problems and to evaluate and test potential innovation solutions. Mixing entrepreneurship and design pedagogies, the course takes a systems view considering how design choices in product/service design and business model design can enhance-or diminish-a social venture's impact.
The course is run as a virtual firm where students work on distributed teams to develop social ventures by engaging with partner organizations, prioritizing programs, and setting and pursing goals while deploying modest amounts of seed capital. The course is time-intensive but rich and immersive. Students travel once per semester to partner sites to build relationships, learn about local culture, understand and map needs, identify stakeholders, perform experiments and tests, and collect information on local infrastructure and value chains.
(a) Prerequisites: FME1000, EPS3501, Junior standing
SF2 SILICON TECHNOLOGY VENTURES
EPS4520 Silicon Tachnology Ventures
4 credit general credit
We will explore entrepreneurship that is based on technological innovation and to better understand how technological innovation will impact any business. Our primary goal will be to develop an understanding of the key components of successful technology entrepreneurship.
A unique aspect of this course is that it is hosted in San Francisco, the epicenter of technology companies and investors. This offers an opportunity to gain more understanding of the domain by participating in a community where technological innovation and entrepreneurship thrive.
VENTURE GROWTH STRATEGIES
EPS 4521: VENTURE GROWTH STRATEGIES
The course focuses on the opportunities and challenges involved in the management of growth in entrepreneurial settings, either in an individual company or as part of a larger corporation. Growth is the ultimate resource constrainer, stretching all systems in a company to the limit and often beyond. Consequently, this course will emphasize management "at the limit" of what students may have already learned in other functional courses. It will provide students with a series of frameworks, analytical skills and techniques, and decision-making tools that can be used in growing entrepreneurial businesses.
The course relies on non-traditional, experiential learning methods in addition to the usual case-based method. While some classroom meetings will include case discussions involving growth-related issues, the central part of the course is a sophisticated international simulation exercise known as the Sigma Challenge. This simulation is used by leading companies worldwide as an innovative training tool because of the rich experience it provides to participants. The Sigma Challenge is different from most other simulations because in the Sigma Challenge the teams start with a "clean slate" in planning their strategies and, equally important, the simulation is extremely responsive to the different strategies undertaken by the participating teams, thus providing participants with a dynamic learning experience which reflects real-world conditions and outcomes. The simulation takes place during eight of the regular weekly classroom meetings.
During the simulation students work in teams. Each team is asked to manage the growth of a multi-product company from a single undifferentiated, imported product to a portfolio of differentiated products. Management decisions will involve strategy, marketing, finance, production, technology, R&D, and other functional areas. The course thus provides students with an opportunity to apply functional skills they have learned in other courses to build a growing company in an exciting, highly competitive, and rapidly changing environment. Guest speakers will provide further insight into the opportunities and challenges of growth.
The course is particularly useful to students who have interests in one or more of the following areas: (1) growing their own entrepreneurial companies, (2) managing the growth of existing companies in an entrepreneurial fashion by emphasizing innovation and opportunity capture in a dynamic environment, and/or (3) helping companies manage their growth through consulting assignments.
Prerequisite: EPS 3501
A lab fee will be required for the simulation materials and use of the simulation software.
This course is typically offered in the following semester: Spring
ENVIRONMENT AND SUSTAINABLE EPS
**Students must be Juniors or Seniors to take this course
EPS4523 Ennvironment and Sustainable Entrepreneurship
4 credit general credit
In a global economy with increasing population and economic growth, environmental impacts and social justice are becoming increasingly important to today’s business leaders. Environmental problems, resource shortages and social inequality will call into question our ability to continue to meet the needs of a growing population using our current solutions. While troubling, this future represents enormous opportunities for entrepreneurs who figure out how to meet those needs in new ways that take into account social and environmental issues
This course examines two aspects of this issue. The first is to look at ways in which we can develop these new solutions by understanding and challenging our assumptions of how the industries and businesses need to be structured. The second is to examine what it means to create a “sustainable” business, regardless of the nature of the business. Students will leave the class with a better understanding of how to identify opportunities that address environmental issues and have a better understanding of how their decisions as an entrepreneur impact the environment and society, regardless of the type of venture they are pursuing.
Prerequisites: Junior or Senior standing
LIVING THE SOCIAL EPS EXPERIENCE
EPS4525: Living the Social Entrepreneurship Experience
EPS4525, EPS4530 (formerly EPS3530), EPS4531, EPS4532, EPS4533 and EPS4534 are equivalent courses. Students can only take one of these courses.
Living the Social Entrepreneurial Experience is about solving "people and planet" problems while generating societal and economic value. Building on the foundation from EPS 3501, this course is action focused, where you will execute on a real opportunity in teams. Students put Entrepreneurial Thought and Action into practice by developing, taking and building on key action steps to advance their own social venture or on projects for existing social enterprises. Key elements of the process involve secondary research and engaging experts, stakeholders, analogous/complementary ventures, and investors/donors to enrich understanding of the social entrepreneurship landscape and test ideas. Course readings and cases will provide supplemental background. Core to the class experience is the question - how do you build and lead a social venture? Students will set milestones to move their venture forward, working with both with external mentors and peer advisors. The core is “action based learning” which will result in pivoting your venture based on information gained in experimenting and testing assumptions. The course has multiple deliverables related to key actions and decisions in marketing, finance, customer service and operations. Students are expected to work independently as well as interdependently with other social entrepreneurs in the course. Contact time for this course will be split between in-class sessions and out-of-class individual meetings with the instructor.
Prerequisites: (SME) and EPS3501
This course is typically offered in the following semester: Fall