ENTREPRENEURSHIP - Business Course Materials - Harvard Business

C O U R S E M A T E R I A L S

2012

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ENTREPRENEURSHIP

Harvard Business Publishing serves the finest learning institutions worldwide with a comprehensive catalog of case studies, journal articles, books, and eLearning programs, including online courses and simulations. In addition to material from Harvard Business School and Harvard Business Review, we also offer course material from these renowned institutions and publications:

� Babson College

� Business Enterprise Trust

� Business Expert Press

� Business Horizons Magazine

� California Management Review

� Darden School of Business

� Design Management Institute

� HEC Montréal Centre for Case Studies

� IESE Business School

� INSEAD

� International Institute for Management Development (IMD)

� Ivey School of Business

� John F. Kennedy School of Government

� Kellogg School of Management

� Perseus Books

� Princeton University Press

� Rotman Magazine

� Sloan Management Review

� Social Enterprise Knowledge Network

� Stanford Graduate School of Business

� Thunderbird School of Global Management

� Tsinghua University

� University of Hong Kong

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CASES

Cases, slices of business life, focus on actual problems and decisions facing a company. Students are challenged to put themselves in the protagonist’s place and suggest business strategies, tactics, and solutions.

New Cases

Aardvark Aardvark, an online social search service, allows users to pose questions to and receive answers from an extended social network. Aardvark founders sought user input at every stage of the product development process, attracting a loyal base of early adopters. Knowing they need to grow their user base even more while remaining committed to a user-centered design approach, the founders consider risky development deals with distribution platforms that can spread the Aardvark reach. Harvard Business School #811064

D-Bamboo Home and Garden Shop Harry Laurell is contemplating moving his small home and garden shop in Chaguanas, Trinidad. Sales declined by forty percent the previous year and a competitor has entered the market with lower prices. Laurell thinks that if he moves to a larger location then he could capitalize on new opportunities such as the increasing demand for landscaping services. But he is uncertain how his existing customers would react to a move and is considering what marketing activities he will need to ensure long-term survival. Richard Ivey School of Business Foundation #910A29

FreshTec: Revolutionizing Fresh Produce FreshTec is facing strategic growth decisions. The entrepreneurial produce-packaging firm has developed a disruptive technology that will keep produce and flowers fresh longer. Even though this innovation holds much promise after a long development phase, it will have a more expensive price point than the market may bear. FreshTec CEO Bob Wright must decide the best plan to bring the FreshTec packaging product to market while he and his team convince the industry stakeholders of the product’s value. Harvard Business School #511059

Juner New Materials: On the Road to IPO Female serial entrepreneur Xiaomin Chen founded Juner New Materials in 1995. Fifteen years later, the modified plastic compounds manufacturer has over 300 employees and is an icon of high technology in the Zhejiang province of China. Juner is striving to become the leader of China’s modified plastics industry, but it lacks the funds to meet that goal. With competitors aggressively dedicating new resources toward expansion, Chen and the board of Juner vote to raise capital by going public. This decision brings up several critical issues that Juner must first address. Tsinghua University #TU0003

Narragansett Brewing Company In 2009, the NHL Winter Classic hockey game between the Boston Bruins and the Philadelphia Flyers is held at Boston’s Fenway Park, providing a marketing opportunity for many local and national organizations. Four years earlier, Mark Hellendrung bought the trademark of a historic New England-based company, Narragansett Beer. Advertising at the hockey game could expose millions to the Narragansett brand, but is investing in a national professional-sports event the right shift in strategy for Hellendrung and Narragansett? Harvard Business School #811028

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Next Street, LLCNext Street Financial, LLC, is a merchant bank providing high-quality advisory services and capital to small- to midsize inner-city businesses. Even though it is a for-profit, its mission to increase the success of inner-city companies also enhances the economic development of those areas. The advisory component of its mission is on track, but raising funds to finance these urban companies is challenging. As Next Street considers expanding its capacity, the firm must decide between raising capital itself or focus on helping clients with financing from other institutions. Harvard Business School #211094

Oprah WinfreyExplores Oprah Winfrey’s entrepreneurial journey, examining how the business model and strategy of her company Harpo have adapted to address a dynamic marketplace, rapid technological innovation, and Winfrey’s own evolving conception of her purpose and path. Harvard Business School #809068

Red Hen Baking CompanyIn 2007, the Red Hen Baking Company is deciding whether to move from its cramped and inefficient facility to a new and improved bakery. Red Hen has been in business for almost eight years, but 2006 was the first year it realized a profit over $50,000. The added annual cost of the new location is approximately $58,000, and it would also require an additional $300,000 in capital for renovations. While the owner of Red Hen is excited about the possibility of a new and more efficient bakery, he wonders if it is worth the added expense and associated risk. Harvard Business School #211091

Sidoti & Company: Launching a Micro-Cap ProductIn 2010, New York-based brokerage firm Sidoti & Company has just launched a new product: micro-capitalization stock research. This new offering differs from Sidoti’s core small-capitalization products. Students explore the company’s current business model and analyze how the new business fits with and differs from the current operation. The case also covers the challenges Sidoti faces in making this new business a success. Harvard Business School #411072

Steven Carpenter at Cake FinancialFounded in 2006, Cake helped users monitor their investments and communicate their portfolio strategies to an online community. After investing $9 million of venture capital, Cake failed to reach critical mass and was dissolved. The case reviews key decisions made by the Cake management team, including several strategic shifts made in response to market feedback. Students must consider what alternative strategies and managerial approaches might have produced a more positive outcome for Cake. Harvard Business School #811041

Vaatsalya Hospitals: Affordable Health Care in Proximity In India, eighty percent of health-care facilities are located in urban areas despite close to seventy percent of the total population being located in villages and small towns. Vaatsalya has created a low-cost solution to meet the health care needs of those in semi-urban and rural India. Students learn about scaling a social entrepreneurial venture in India by examining the viable business model that helps Vaatsalya bridge the gap between the urban hospitals and the countryside population. Indian Institute of Management Bangalore #IMB327


Popular Cases

Facebook’s Platforms In early 2009, Facebook was the largest global online social network with 175 million members, yet it generated relatively little revenue from its advertising programs. The case asks students to consider two options for improving the top line: deepen the commitment to advertising or develop Facebook-Connect to allow other organizations to develop online applications. Harvard Business School #808128

Howard Schultz and Starbucks Coffee Co. Entrepreneur Howard Schultz and his company influence millions of consumers’ tastes, behaviors, and daily lives. This case explores how Schultz and Starbucks have come to lead the intensely competitive specialty coffee industry and analyzes the relationship between entrepreneurial brand creation and institution building. Harvard Business School #801361

How Venture Capitalists Evaluate Potential Venture Opportunities Venture capitalists from leading Silicon Valley firms are interviewed about the frameworks they use when considering potential venture opportunities. Topics covered include business models, due diligence, funding decisions, financial analyses, the role of risk, and exit strategies. Harvard Business School #805019

Ingvar Kamprad and IKEA This case examines the strategic and organizational innovations CEO Ingvar Kamprad has made to achieve success, focusing on his vision and values and their role in IKEA’s corporate culture. Can this “corporate glue” survive massive expansion and the replacement of Kamprad by a professional manager? Harvard Business School #390132

Leadership in Crisis: Ernest Shackleton and the Epic Voyage of the Endurance Provides an opportunity to examine leadership and entrepreneurship through the story of Ernest Shackleton and his harrowing 1914 Antarctic expedition. The case summarizes Shackleton’s career as an officer in the British Merchant Marine, his work on several prominent Antarctic missions, and the competitive nature of polar exploration in the late 19th and early 20th centuries. Harvard Business School #803127

R&R This case outlines a number of strategies for getting into business; demonstrates how an entrepreneur can control resources in order to lower the fixed costs of business entry; and provides a mechanism for discussing the roles of experience, credibility, and contacts in the development of a venture. Harvard Business School #386019

Vermeer Technologies: A Company Is Born Charles Ferguson, the cofounder of software company Vermeer Technologies, has just heard that a venture capital consortium is interested in financing his venture. The funds are sorely needed, but the VCs have imposed some worrying conditions, including a request that Vermeer’s first CEO be appointed from outside the company. Harvard Business School #397078

Zipcar: Refining the Business Model Zipcar is organized around the idea of sharing car usage via a membership organization. Students are called on to analyze the underlying business model and economics for the venture and to determine how assumptions are holding up over time as the business has evolved. Harvard Business School #803096


MULTIMEDIA CASES

Multimedia cases put students in the center of business dilemmas by bringing concepts to life with animated charts, audio, and video segments. Available on CD-ROM for PC.

An Entrepreneur’s Journey: Simi Nwogugu Simi Nwogugu’s life path has taken her from childhood in Lagos, Nigeria, to success on Wall Street through the founding of a business that addresses issues of career and motherhood. Her latest challenge is a move back to Nigeria with her children to accommodate her husband’s career. #810701

Entrepreneurial Insights Seven entrepreneurial leaders answer questions about building their companies. Questions range widely over common business issues—including starting up, acquiring financing, and planning for future challenges. #306703

Pura Vida Coffee This case explores a socially oriented business as it tells the story of two Harvard Business School graduates who sell gourmet coffee over the Internet to support an outreach ministry in Costa Rica. Topics include entrepreneurial management, foreign markets, and online retailing. #303051

ROLE PLAYS

Role Plays help students develop their decision-making skills by setting up realistic business challenges that require students to use negotiation techniques to work out the best possible solutions. Each Role Play is accompanied by a comprehensive Teaching Note.

EZ Amuse Negotiation Background (A) EZ Amuse Communications, a venture-backed digital media company, is raising a B round of financing. Its existing backer would like it to raise enough for 6–9 months followed by a C round at a higher valuation. The new CEO would like to avoid a C round (and preserve his own position). #807007

Salt Harbor Salt Harbor, a two-party negotiation, involves a bed-and-breakfast and an incoming coffee chain. Students are paired to negotiate the price for a vacant piece of land next to the inn; the coffee shop owns this land and is planning to build on it. #800077

Æ Find more cases, multimedia cases, and Role Plays at hbsp.harvard.edu


ARTICLES

Articles from Harvard Business Review and other renowned journals provide up-to-the- minute ideas from the best business thinkers.

New Articles

Convergence in Entrepreneurial Leadership Style: Evidence From Russia This article investigates entrepreneurial leadership styles based on interviews with 130 exemplary Russian entrepreneurs over a recent five-year period. The results show that a large majority of these entrepreneurs have adopted an open leadership style similar to that of U.S. entrepreneurs, supporting a convergence theory of entrepreneurial leadership style. California Management Review #CMR464

Entrepreneurial Decisions and Legal Issues in Early Venture Stages: Advice That Shouldn’t Be Ignored Entrepreneurs make many business decisions each day, many of which have negative long-term impacts and legal ramifications. The authors of this article propose solutions and advice about these early-stage mistakes to help students avoid this common pitfall of entrepreneurs. Business Horizons #BH425

The High-Intensity Entrepreneur It is often thought that entrepreneurs in the developing world are few in number and run only micro-businesses. But in a two-year study of entrepreneurship in emerging markets, the authors of this article found hundreds of high-potential ventures that tend to be more successful than their Western counterparts even though they are located in surprising places. Lessons learned by these new ventures are also covered. Harvard Business Review #R1009E

How to Start an Entrepreneurial RevolutionDaniel J. Isenberg states in this article that some of the most effective entrepreneurial practices come from remote parts of the planet. Using lessons learned in such countries as Rwanda, Chile, Iceland, Israel, and Colombia, he defines nine principles for building a successful entrepreneurship ecosystem, including not emulating Silicon Valley and shaping the ecosystem around local conditions. Harvard Business Review #R1006A

Making Social Ventures Work Entrepreneurs can help find solutions to many societal issues, but only if they overcome the high failure rate of start-ups. To minimize that risk, the authors of this article offer students guidelines formulated with Rita Gunther McGrath and the Wharton Societal Wealth Program for launching successful businesses. Harvard Business Review #R1009D

A Process Model of Academic Entrepreneurship Academic entrepreneurship, commercializing the results of faculty research, is a relatively new phenomenon that lacks formal process. In this article, Matthew S. Wood lays out his multistage process model for academic entrepreneurship and articulates the benefits of participating in academic entrepreneurship for many different stakeholders. Business Horizons #BH426

Popular Articles

Bootstrap Finance: The Art of Start-Ups This article explores the value of bootstrapping over venture capital in starting a business and postulates that seven principles are basic for successful start-ups: get operational fast; look for quick break-even, cash-generating projects; offer high-value products or services that can sustain direct personal selling; don’t try to hire the crack team; keep growth in check; focus on cash; and cultivate banks early. Harvard Business Review #92601

How Entrepreneurs Craft Strategies That Work Offers guidelines for aspiring founders including screening out unpromising ideas as early as possible; realistically assessing the financial situation, personal preferences, and goals for the venture; and minimizing the resources devoted to researching ideas. Harvard Business Review #94202

How to Write a Great Business Plan A great business plan includes the obligatory financial projections but also focuses on a series of questions that relate to the four factors critical to the success of every new venture: the people, the opportunity, the context, and the assessment of both risk and reward. Harvard Business Review #97409

The Five Stages of Small-Business Growth This article provides a framework to help determine a company’s stage of development and ensure a profitable future. Students explore five key stages of small-business growth: existence, survival, success (with the substages of disengagement and growth), takeoff, and resource maturity. Each stage has an index of size, diversity, and complexity. Harvard Business Review #83301

Questions Every Entrepreneur Must Answer This article establishes a three-step sequence of questions that all entrepreneurs must ask themselves in order to establish priorities among the vast array of opportunities and problems they face: What are my goals? Do I have the right strategy? Can I execute the strategy? Harvard Business Review #96603

A Small Business Is Not a Little Big Business Resource constraint distinguishes the management of small businesses from that of big businesses. An emphasis on liquidity rather than profit helps small businesses overcome the problems of limited financial resources, lack of trained personnel, and short-range management perspective imposed by a volatile competitive environment. Harvard Business Review #81411

Test for the Fainthearted What characteristics set successful entrepreneurs apart, enabling them to keep their companies alive even when the going gets tough? This case defines the key qualities that make someone a successful entrepreneur—being comfortable stretching the rules, being prepared to make powerful enemies, having sufficient patience to start small, and being willing to shift strategies quickly. Harvard Business Review #R0205J

Æ Find more articles at hbsp.harvard.edu


ONLINE COURSES

Available in SectionsOnline courses introduce complex subjects and can be used in advanced undergraduate business courses, as prematriculation requirements for MBAs, or assigned as homework over a semester or year. Online courses are available as complete courses or in sections.

Mathematics for ManagementReviews key mathematics concepts and skills used in the MBA curriculum and in business. Demonstrates how to use Excel functionality to solve business problems.

� Complete Course #3252 � Introductory Section #6010 � Advanced Section #6011

Æ Find more online courses at hbsp.harvard.edu

BOOKS & CHAPTERS

Individual chapters may be integrated into course materials, while books may serve as primary class texts.

NEW! Great Again: Revitalizing America’s Entrepreneurial Leadership In this book, Hank Nothhaft and David Kline explain that the innovation engine powering the U.S. economy since World War II is failing. Nothhaft, a serial entrepreneur, then offers an action plan for entrepreneurs and policy makers to revitalize the faltering economy by establishing new American entrepreneurial leadership. #12793

NEW! The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators Jeffrey Dyer, Hal Gregersen, and Clayton Christensen claim that anyone can become an innovator by mastering the discovery skills that differentiate innovative entrepreneurs and executives from ordinary managers. They identify the five capabilities of the best innovators and explain how to use those skills to generate and implement ideas as well as build innovation skills. A self-assessment tool is provided for students to rate their own innovator’s DNA. #14946

Billions of Entrepreneurs: How China and India Are Reshaping Their Futures—and Yours China and India are home to one-third of the world’s population and they are each undergoing social and economic revolutions that are capturing the best minds—and money—of Western business. This book examines the entrepreneurial forces driving Chinese and Indian development and describes how each country will ultimately reshape business, politics, and society in the world around it. Available in chapters. #3838

Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty This book offers a blueprint for thinking and acting in environments that are fast-paced, rapidly changing, and highly uncertain. Through a set of entrepreneurial principles and a guide to the discipline of a habitual entrepreneur, the book explores topics such as eliminating paralyzing uncertainty, executing ideas dynamically, and developing an entrepreneurial leadership style. Available in chapters. #8346


Getting to Plan B: Breaking Through to a Better Business Model New businesses are fraught with uncertainty. To succeed, managers must be prepared to change the plan in real time as the inevitable challenges arise. Provides a rigorous process for stress testing Plan A and determining how to alter it so a new business can make money, solve customers’ needs, and endure. Available in chapters. #2669

Harvard Business Essentials: Entrepreneur’s Toolkit Provides comprehensive advice, personal coaching, background information, and guidance on basic challenges an entrepreneur will face. Topics include writing a business plan, evaluating an opportunity, financing the business, structuring the company, and determining an appropriate exit strategy. Available in chapters. #4368

The Power of Unreasonable People: How Social Entrepreneurs Create Markets That Change the World Identifies several highly unconventional entrepreneurs who are solving some of the world’s most pressing economic, social, and environmental problems by disrupting existing industries, value chains, and business models—and in the process creating fast-growing global markets. Available in chapters. #4060

Æ Find more books and chapters at hbsp.harvard.edu

COURSE MODULES

Course Modules offer a road map to the best teaching materials, with recommendations on how to organize them. Each module suggests 4–6 items plus some alternate suggestions. Popular modules in Entrepreneurship include the following:

� Entrepreneurial Finance � Identifying and Evaluating Opportunities � Managing and Harvesting Growth � Managing the Early-Stage Venture

Æ Find more Course Modules at hbsp.harvard.edu

VIDEO SUPPLEMENTS

Video supplements give students insight into a case as they view a class visit from a CEO, a factory tour, or interviews with prominent business visionaries. Available on DVD. Many video supplements are accompanied by a Teaching Note. Video supplements in Entrepreneurship include:

� Blue Man Group: Creativity, Life, and Business #810704 � Humphrey & Cecilia #810702 � Todd Krasnow: Orchid Partners #809704 � John and Andrea Rice: Entrepreneurship and Life #808042 � Mike Corbin: Closing the Corbin-Pacific Case #808708 � DentalCorp #807703 � Social Entrepreneurs: Correcting Market Failure #SI72V

Æ Find more video supplements at hbsp.harvard.edu


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ENTREPRENEURSHIP - Business Course Materials - Harvard Business

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