Philadelphia University
MBA Program
Course MB-59
Fall 2000-Thursday evenings @ 6:30 p.m.
Entrepreneurship

Professor: Lee Evan Tabas
Mailing Address: 1 Dove Lane, Haverford, Pennsylvania 19041
Telephone: 610 896 6893 Evening 610 896 8079
Fax: 610 896 7152
E-mail: Lee@Tabasfunding.com
Office Hours by appointment

Course description:

The engine that is driving today’s economy is the growth and success of smaller ENTREPRENEURIAL businesses. While the story of how college dropout and entrepreneur Bill Gates became the worlds’ richest man is exhilarating, the basics of entrepreneurship are practiced daily by thousands of successful independent businesspeople. The focus of the course will be to explore the world of establishing businesses and managing them effectively. To keep the course firmly grounded in the real world, we will have as many businesspeople visit the classroom to speak about their experiences as possible.

Students will review and discuss solutions to various typical management problems.

The culmination of the course will be development and presentation of student business plans to the class. Students may develop plans on their own or in groups, as they desire.

Textbook: Norman M. Scarborough and Thomas W. Zimmer, "Effective Small Business Management-an Entrepreneurial Approach" (Prentice Hall, Upper Saddle River, NJ, 1996)

Requirements:

Attendance:

Attendance is important. You are responsible for what is covered in class and if absent; you are responsible for finding out what was discussed. Not all of the material covered in class will be in the textbook. If you need to miss class, try to let me know in advance.

Because of the number of entrepreneurial presentations proposed for the course, and adjustments that may have to be made to accommodate them, both the suggested grading system and course outline are tentative and subject to reasonable adjustment without notice.

Grading:

Assignments submitted late will generally receive a reduced grade.

Academic Honesty: Although certainly not anticipated at this level of study. The student should be aware that the first cheating offense could result in the application of College disciplinary procedures according to the Academic Honesty Guidelines.

Quality of Submissions: The Philadelphia University MBA program is designed to complement accepted business practices .  Compositions or written problems should be typed in double-spaced business format in easy to read type.  Computations or problems may be typed or neatly handwritten.

Tentative Course Outline:

Class 1 (September 31)The Challenge of Entrepreneurship; Why the focus on Independent Businesses Today? What are the pluses and minuses of being an Entrepreneur? Discussion of Business Plan and Presentation project. (chapter 1)

Class 2 (September 7)Guest Entrepreneur-Joseph Ball, President, American Advertising Services
Starting a business and Strategic Planning. Decision to be made in this class about individual or group participation in the Business Plan and Presentation project. (chapter 2,3)

Class 3 (September 14) Franchising
Hand in a one page executive summary of your Plan to form or purchase a business (chapter 4)

Class 4 (September 21)Guest Entrepreneur -Marcus Lopez, President, Group Benefits Online
Buying an existing business
Hand in a list of the short and long term tasks you or your group will be undertaking for your business plan and presentation. (chapter 5)

Class 5 (September 28)The Marketing plan
The importance of market research
Finding the competitive edge
Advertising and Promotion
Location and Layout (chapters 6, 11,15)

Class 6 (October 5)Guest Entrepreneur-Bernie Siegel, Principal, Siegel Business Systems
Financial projections and performance
Importance of Cash Flow
Pricing and Purchasing
Paper Due Describing an Entrepreneur of your choice. See Below. (chapters 7, 8 , 10 , 16)

Class 7 (October 12)Customer Service – Video (pgs 187-196)

Class 8 (October 19)Guest Entrepreneur-Anthony J. Micale, McDonalds Restaurant Operator
Obtaining Financing/Equity/Going Public
Hand in a business plan progress report (chapters 13,14)

Class 9 (October 26)Managing People-businesses most important resource
Interviewing and hiring employees
Training; business cultures; motivation, (chapters 19, 20)

Class10(November2)Guest Entrepreneur-Donna Allie, President, Team Clean, Inc.
Midterm

Class 11 (November 9)Ethics and Regulation, Cultural Diversity, sexual harassment, environmental law
Contracts, Liability, Bankruptcy(Chapters 21,22)

Class 12 (November 16)Guest Entrepreneur -Drew Morrisroe, President, CTN Solutions, Inc.(and a PhilaU MBA GRAD!)
Hand in 5 copies of your Business Plan- due at the beginning of class. Presentation of business plans to begin(depending on the number of students)

Class 13 (November 30), 14(December 7) Continuing Presentations and Critique of Business Plans. For team presentations,hand in team participation forms in last class .  Hand in or e-mail critique of another individual or group plan and presentation before December 14.

Description of Assignments:

Here are some of the questions that you should  be answering:

1. What is the entrepreneurs' background educationally? What is their work experience?
2. What were the entrepreneurs thought proscesses and plans before going into business?
3. How did he/she acquire their business?
4. Description of the business, market,industry,competition.
5. What have been the entrepreneurs' greatest challenges, and how did he or she overcome them?
6. What does the entrepreneur see for the future of his/her business?

1. beginning balance sheet
2. three years profit and loss projections
3. first year cash flow or cash budget projection

Students are encouraged to complete 3 years of balance sheets and cash flow projections,as well as a breakeven analysis.

Formal presentations to the committee will be made in the last several classes. Participation of all students in formal presentations is mandatory;students are encouraged to dress appropriately for committee presentations. PowerPoint projection equipment is available, should you wish to use it.  While PowerPoint is not necessary, keep in mind that your business plan and presentation should be of a quality that is suitable for the Loan/Venture Capital Committee.  Please let the professor know if you will be needing the equipment, so that arrangements may be made.  You will need to have or borrow a portable computer. A presentation should last about 15-20 minutes, with time afterwards for questions.

Students making team presentations will be required to evaluate their team colleagues’ contributions. Grades may be weighted by your contribution to your team as judged by the other team members.

Critique of another teams’ new venture- Individuals/teams will write a two or 3 page critique of another teams presentation and business plan. The critique should praise if praise is due, and also provide a basis for the presenter to improve their presentation and plan.  Due diligence research of critiques will improve your grade.

For all papers and presentations, whether you are trying to convince investors or your instructor , appearances are important. It is therefore recommended that submissions be done in as professional a manner as possible.  

Suggested Readings: