EPS AND NEW VENTURES IN CHINA
Entrepreneurship and New Ventures in China
4-cr General Credit
(Note: This course is equivalent to EPS3501, EPS3502, EPS3503 and EPS3530. Students can take only one of these courses. BRC3501 satisfies the pre-requisite for EPS350x and in meeting the Entrepreneurship concentration requirement of EPS350x.)
This four-credit entrepreneurship elective is part of the 16-credit Russia-China program. The course will introduce students to the nature and process of assessing and shaping entrepreneurial opportunities in China. It will build on the Liberal Arts China elective, enabling students to apply their understanding about China's cultural, political, social and economic environment to understand drivers of entrepreneurship and to identify and assess entrepreneurial opportunities.
Near the end of the 1970s, entrepreneurship was introduced as a supplement to China's socialist economy, and the government has increasingly acknowledged the key economic role played by the private sector. This provides a relevant and unique context through which to study entrepreneurial activity. We will examine the distinct qualities of entrepreneurship, and the factors that influence new venture creation in this diverse and rapidly changing economy. We will accomplish this, not just through discussions, readings and cases, but also through immersion in the culture and direct contact with Chinese entrepreneurs.
We will visit entrepreneurial firms and to other entities involved with entrepreneurship, such as investors and government officials.
Students will maintain a journal reflecting on their visits and experiences from an entrepreneurship perspective. They will write a paper analyzing an entrepreneur and their own entrepreneurial capacity. They will work in teams to conduct a qualitative assessment of customers and write a feasibility plan for a entrepreneurial opportunity in China.
Prerequisites: OEM & MCE
Co-requisites: BRC3502, BRC3601 and BRC3602
Concentration mandatory course for Entrepreneurship, equivalent to EPS 3501
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.
THE ULTIMATE ENTREPRENEURIAL CHALLENGE
The Ultimate Entrepreneurial Challenge
Formerly EPS3510 and EPS3579
This highly competitive course, patterned after the Donald Trump TV show, "The Apprentice," involves intense TEAM competition and problem solving. Students will elect CEO's, negotiate to acquire team members and compete for ten weeks to determine the ultimate winner. We will test your skills in strategy, marketing, negotiation, management, finance and the actual utilization of "out of the box thinking." The assignments will be based on actual business and case studies. In many cases, the entrepreneurs, or their representatives who are involved in that particular case, will come to class to judge the students on their presentation of solutions. Answers to solutions will be discussed in class.
The class will be open to both graduate and undergraduate students who possess "out of the box thinking" abilities and are creative and want to be successful entrepreneurs. The students are treated as customers and their input will be solicited as to subjects covered. Last year, these subjects were selected.
Understanding what it really takes to be a successful entrepreneur
Starting and growing a business
Creating an entrepreneurial team
Eureka Ranch creativity
Financial analysis and tax planning
Selecting the right management style for yourself
Methods to develop inspiration and the tools to achieve success and confidence
How to take calculated risks
Other timely subjects
What You Will NOT Do
Have the Professor lecture to you for long periods of time.
Have chapters to read and then go over the chapters in class.
Have students hog air time.
Learn formulas that you have to memorize.
Have boring classes.
I believe in business, as in life, nothing is ever handed to you.
So, in this class, you will work harder than you have before. But, if you believe you have the passion to learn to be a successful entrepreneur, this is the class for you.
This class will come as close as you can get while in college to be challenged to come up with the most successful solutions to the real problems you will encounter in the real world.
The Professor will share the knowledge he has obtained in over 30 years of business expertise to assist you in learning the essentials you will need to be successful.
Students will also have one-on-one time with the Professor.
Prerequisites: FME1001 or (MIS1000 and MOB1000)
This course is typically offered in the fall.
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: MCE or (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.
Prerequisites: OEM and MCE
FUTURE TRENDS AND EPS VENTURES
EPS3504 Future Trends and Entrepreneurial Ventures
4 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.
STRTNG AND RUNNING A DIGITAL MEDIA BUSIN
EPS3507 Starting and Running a Digital Media Business
4 credit - general credit
This course will be an immersion class that focuses on every aspect of planning, pre and post-production, publishing and promoting of a podcast focused on global entrepreneurship. The objective of this course is to put the students in charge of operating a real business in which they get to rotate through a variety of roles and experience first hand what it takes to plan, produce, deliver and market a product in the digital media market.
The course will reinforce a multitude of learning goals including rhetoric, quantitative analysis, ET&A, global and multicultural perspectives, ethics and social responsibility, leadership and teamwork and critical thinking. Students are encouraged to work with the means at hand to plan and launch a high quality, successful podcast production with supporting elements. The students will be responsible for learning about the various aspects and responsibilities of launching and managing a digital program that would be global in nature and address topical aspects of entrepreneurship
BE THE CHANGE:EVALUATING SOCIAL IMPACT
EPS3514 Be the Change: Evaluating Social Impact
2 credit - general credit
This 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.
Prerequisite: RHT A & B, OEM & MCE & ASM3300 (ASM may be taken concurrently.)
21ST CENTURY ENTREPRENEURSHIP
Friday, June 19th - 9AM - 4PM
Saturday, June 20th - 9AM - 3:00 PM
Saturday, June 27th - 9AM - 3:30 PM
ESP3517 21ST Century Entrepreneurship
2 credit – general credit
Business has tremendous societal ramifications. Inventions and industries from the automobile to the internet impact everything from air quality to economic and political freedom.
Entrepreneurs, who are often at the forefront of business and thus societal innovation, are changing the way business is conducted by creating businesses that are beneficial to the bottom line, society and the environment.
Through cases, projects and present day examples, the course will challenge students to understand the impact of business on society and the challenges and pitfalls of creating a sustainable venture.
In addition, it will offer new frameworks for creating entrepreneurial ventures, which capitalize on social responsibility to gain competitive advantage, and increase valuation while benefiting society and the environment.
The final deliverable for the course is an in-class presentation in which student teams will either: (1) present an outline business plan for a sustainable business opportunity; (2) recommend ways to improve the social and environmental impacts of a company, while increasing its competitive advantage and its bottom line; (3) benchmark two industry competitors, a sustainably oriented company versus a traditional company.
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.
BIOMIMICRY AS NATURES ENTREPRENEURSHIP
SUMMER INSTITUTE - This course must be taken together with NST2020
EPS3519 Biomimicry as Nature's Entrepreneurship
Biomimicry is the practice of systematically looking to nature for inspiration in solving our sustainability challenges. In this course we will start by exploring biomimicry as a design process, but we will go beyond this by implementing an ecological lens to derive a framework to address challenges and opportunities in business. In addition to biomimicry, the sustainability topics we will discuss include corporate sustainability, sustainable entrepreneurship, cradle-to-cradle production, enterprise carbon management, and industrial ecology
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: (OEM or SME2001 and SME2002) and (MCE or SME2021 and SME2031 and SME2011) and EPS350%
MADE IN JAPAN:INST ENV AND EPS OPS
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.
Prerequisites: (OEM or SME2001 and SME2002) AND (MCE or SME2021 and SME2031 and SME2011)
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: MCE and OEM or 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
Students work with people in communities around the world to address challenges endemic to poverty. While these challenges are complex, there is power in focused innovations that can change individual lives. They gain experience taking on social challenges through a design and entrepreneurship approach that emphasizes context, collaboration, and sustainability.
Students co-create and test new products and social ventures with partners to reduce burden, expand education, improve health, and generate income. They work in cross-functional teams deploying modest amounts of seed capital to identify, develop, and scale opportunities regionally. They advance ventures by iteratively engaging with stakeholders in context, prototyping designs, and testing assumptions. Teams travel to sites in places like India, Ghana, Massachusetts, Mississippi, and Zambia where they build relationships, experience local culture, identify needs, perform market experiments, pilot prototypes, map supply chains, and more.
This course integrates user-oriented collaborative design and engineering design with entrepreneurial opportunity shaping and venture strategy. The experience includes students from Babson College, Olin College of Engineering, and Wellesley College. Babson students enroll in EPS 4515 at Babson, Wellesley students enroll in ENGR 3290 at Olin, and Olin students enroll in either ENGR 3290 or ENGR 4290 at Olin.The course is part of the ADE Program, which is run jointly by Olin and Babson. The program also includes placement assistance to help students find internship and job opportunities in social enterprise.
Prerequisites: FME1000, 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.
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