Entrepreneurial Business Planning and Strategy Execution

Catalog description

This course is designed to allow students to integrate, synthesize, and apply what they have learned in prior courses, and gain further insight into two major drivers of business success, innovation and entrepreneurship. As such, this course will serve as a culminating experience in innovation and entrepreneurship learning. The strategic implications of innovation are examined, including an emphasis on how to be critically aware of factors which may inhibit or facilitate innovation in an organization or team. Students will gain insight into how to write a business case to clearly and effectively outline the pros and cons of taking a specific course of action. Business case development will also rely on how to perform cost-benefit analysis. The course will also teach students the key issues, elements, and approaches associated with translating a sound business model into a compelling business plan (preferably for a new venture). The key elements of a formal business plan will be explored in-depth, including how to write an executive summary, product description, market assessment, team formation plan, pricing models, sales forecasting, financial planning, and implementation planning. The course will emphasize the context and issues associated with developing a formal business plan, developing and understanding business models, and using the planning process to formulate and execute implementation strategies. Various implementation approaches will be compared and contrasted. The course will also enable students to construct business models and plans that present key points in a direct, clear, and appealing way.