Nova Southeastern University

Creating Value and

Growth through
Corporate
Entre preneurship

H. Wayne Huizenga School

of Business and Entrepreneurship
Hudson Institute of Entrepreneurship
and Executive Education

1
www.huizenga.nova.edu/ExecEd
 Creating Value and Growth through Corporate Entrepreneurship Page 2

CREATING VALUE and GROWTH through

CORPORATE ENTREPRENEURSHIP

Program Overview Led by senior faculty members who are not only
experienced in teaching entrepreneurial skills and
strategies but in corporate entrepreneurship itself;
this special management curriculum helps you:
Create Global Corporate Growth
• Identify and capture business opportunities
that others have not seen
In recent years companies have focused on • Build and manage fast-moving
cutting costs to improve profitability. Now they entrepreneurial teams
must increase revenues to achieve the same • Use entrepreneurial business strategies to
results. shape new ventures and manage risk/return
• Write business plans to attract internal and
Is it possible for companies to drive revenue external resources and manage the successful
growth using entrepreneurial techniques? As a development and implementation of new
senior manager, can you learn the basic skills, business opportunities
behaviors, and entrepreneurial concepts that are
often seen in successful entrepreneurs? Can you
nurture these skills in your organization and its
employees? Who will benefit from this program?

At Nova Southeastern University, where we have Senior managers who are in a position to
one of the nation’s top-rated MBA influence both day-to-day and strategic
entrepreneurship programs, we believe you can. management of the organization, including
We have been teaching business leaders to Presidents; Chief Operating Officers; Board
improve their entrepreneurial skills-to create Chairmen and Board Members; Executive Vice-
value through innovation, to think conceptually,Presidents; Vice Presidents of Operations;
to see change as an opportunity, and to identifyAdministration; Human Resources, Marketing,
and exploit that opportunity. Finance, Manufacturing, R&D and Business
Development; Directors; and key members of
Drawing on our world-renowned entrepreneurial their staff.
curriculum, we have developed The NSU/SBE
Program on Corporate Entrepreneurship that will
teach you to apply proven principles of Develop New Business Opportunities
entrepreneurship within already existing
businesses so you can spur growth, identify new The three distinct components of this unique
business opportunities, and pursue them management curriculum have been designed to
effectively. highlight the key skills, lessons, tactics, and
strategies that will be most helpful to you in
creating and leading entrepreneurial ventures.

2
 Page 3 Creating Value and Growth through Corporate Entrepreneurship

Day One: The Manager as Entrepreneur PROGRAM SCHEDULE

• What it means to be entrepreneurial and the
entrepreneurial process
• Understanding the difference between a good
manager and a good entrepreneur, and between a DAY ONE
good idea and a good opportunity
• Learning to see value that others don’t see, and The Corporate Manager as Entrepreneur
how to change the value proposition to the
customer
Creating an entrepreneurial mindset in the
• Structuring ventures to attract internal financial
support
individual and in the organization
• Leading an entrepreneurial organization in a
non-entrepreneurial environment Entrepreneurship is a way of thinking and acting
that is driven by opportunity and directed at
Day Two: Identifying Entrepreneurial creating new value. For the corporate
Opportunities entrepreneur, there is a constant battle between
opposing forces: risk vs. return, uncertainty vs.
• Evaluating and justifying entrepreneurial actions opportunity, personal risk and return vs. corporate
• Shaping ideas by ‘shopping’ them in the risk and return, and budget focus vs. opportunity
organization focus.
• Using financial analysis to define new
opportunities As a manager, what are the key principles and
• Linking the customer value propositions with processes you need to understand in order to
your unique organizational capabilities operate effectively as an entrepreneur inside your
own organization, or to build an entrepreneurial
Day Three: Managing the Entrepreneurial environment?
Process
How do you begin to think like an entrepreneur?
• Relating entrepreneurial ventures to corporate What’s required in the organization to support
strategy entrepreneurial behavior? What do you need to
• Understanding what internal and external know in order to gain financial support and
investors look for in a business plan compete more effectively for corporate resources?
• Managing the financial process, and what you
need to understand about the difference between
standard management and entrepreneurial cash
flows
• Internal and external loss management, exit
mechanisms, and what to do when things go
wrong
• Avoiding entrepreneurial “Venus fly traps’
• Modifying and restructuring an opportunity based
on changes in the environment.

3
 Creating Value and Growth through Corporate Entrepreneurship Page 4

On the first day of this program, you’ll gain 3. Characteristics of Successful Entrepreneurs
important insights into the manager as
entrepreneur, as well as learn about: The common perception of the entrepreneur is
an individual who is a cowboy, a high risk taker,
• Entrepreneurial behaviors and mind-sets, and one who needs to fail before he or she can
succeed. In fact, the research paints quite a
the entrepreneurial process
different picture. We’ll discuss what we’ve
• Crafting entrepreneurial strategies discovered about how effective entrepreneurs
• Looking at the organization in new and view risk and opportunity, feel about working in
creative ways teams, and think about planning vs. making
• Using venture capital standards to measure shoot-from-the-hip decisions.
potential opportunities
• Managing risk propositions Other topics include:
• Creating greater impact on customer value
• How your personal traits, background, and
chains education affect your ability to succeed as an
• Common organizational barriers and how to entrepreneur
overcome them • What can readily be changed, what you may
• Developing innovative products and services need to work on harder
• Effectively using other peoples’ money/time • What’s myth, what’s real, what’s relevant.
and resources • Distinctions between the internal or
corporate entrepreneur and the individual or
1. Contemporary Principles of Corporate external entrepreneur, and what one can learn
Entrepreneurship from the other

• What entrepreneurship is and why it is an 4. The Manager as Entrepreneur

important issue in corporations today, given
the competitive environment and changing • In this segment, you will use a case study to
product life cycles. examine corporate entrepreneurship from the
• What it means to be an entrepreneur. The perspective of a manager who attempts to
basics of entrepreneurial leadership in the revive a failing division that has been written
corporation. off by the company, by moving from a
traditional to an entrepreneurial management
2. Understanding the Entrepreneurial Process: approach.
Laying the Foundation for Corporate • What changes had to be implemented in
Venturing order for the company to give the go-ahead?
• How did the manager have to alter his
personal management style?
Using case examples, you will learn:
• What was the impact on the organization’s
employees?
• What differentiates the entrepreneurial
process from more traditional management • How did he hold the bureaucracy at bay?
processes
• Using market demand, structure, and size to
measure opportunity
• Entrepreneurial team as the key to success
• Why a mediocre idea in the hands of a great
team is more attractive to investors than a
great idea in the hands of a mediocre team.

4
 Page 5 Creating Value and Growth through Corporate Entrepreneurship

DAY TWO 1. The Opportunity Development Process

How do you begin to generate, shape, and justify

Identifying and Assessing Entrepreneurial initiatives which create new businesses and/or
Opportunities new ways of doing business? In this segment we
will detail a process model for getting from a
Generating, shaping, and justifying new business idea to a functioning business strategy
corporate ventures and for putting the strategy into place. You’ll
learn to distinguish between:
The skill that distinguishes successful • Market-driven vs. technology-driven
entrepreneurs is their ability to determine when a opportunities
great idea is also a great opportunity. • New business opportunities vs. transforming
existing ones
How do they do it? • Corporate venturing opportunities vs. those
encountered by start-ups
What are the keys to capturing opportunities as
viable business ventures and to recognizing and 2. Identifying Entrepreneurial Opportunities
assessing the markets, trends, unsatisfied or
unserved customer needs, and economic value Conceiving new relationships between the
that various opportunities represent? organization and the customer by:

On day two, we will explore the opportunity • Aligning product attributes and customer
development process and the full range of factors needs
and information you’ll need to consider to • Serving existing needs better or creating new
generate a sound and credible business plan or needs
• Using value-based pricing strategies
proposal.
(developing a clear vision of who wants the
product or service and how much they’re
You will learn about ways in which you can willing to pay)
transform company or industry value chains and
leverage underutilized assets. Includes case examples of opportunity
identification involving reallocation of revenues
You will also learn: and relationships.

• How to develop and map an entrepreneurial 3. Creating a Value Proposition

business strategy
• The skill sets required to take existing Creating new opportunities by developing value
chains which capture high returns and create
resources, distribution chains, brand names,
competitive advantage. Understanding value
and other historic assets, and actively shape chain concepts and logistics, including:
them into entrepreneurial opportunities
• How to discover and develop customer value • How value chain transformation can create
propositions and new ways to extend your new customer values
organization’s unique competencies • Making current assets generate more revenue
• The process of moving from business (e.g. distribution networks)
proposition to financial proposition • Opportunities for using the internet to
• How to develop multifaceted opportunities, transform the value chain
including synergies, cross-unit spillovers, and
growth options

5
 Creating Value and Growth through Corporate Entrepreneurship Page 6

Covers ways of creating new opportunities by DAY THREE

looking at opportunity sets rather than markets
and industries. Included are examples of
companies that have transferred successful Creating and Implementing the New
strategies in current businesses to other industries Business Plan
and to new geographies. Case study: How an
engineering company adapted an industrial Managing the entrepreneurial process
technology to create a new consumer business.
What are the keys to managing the internal
4. Using Financial Analysis to Shape venturing process? As a senior manager
Opportunities responsible for the ultimate success of the
project, where do you begin when it comes to
In developing any entrepreneurial opportunity, deciding:
you’ve got to be able to make a reasonable case
for the financial risks and returns of the venture to
acquire the resources necessary to support it. • Where the venture-and the organization-need
How do you use financial data to analyze the to go and how fast
merits of your strategic choices and the risk levels • How to get there, and
and risk drivers of any entrepreneurial enterprise? • What to do along the way to reduce
What are the financial skill sets required to make uncertainty and to manage risk and change?
the necessary decisions? This session will help
you build your financial literacy so you can better
Creating an entrepreneurial business plan is
control risks, as well as understand:
crucial not only as a way to help you understand
and guide the growth of the venture, but also as a
• The conceptual limits of traditional cash flow
means to attract the capital or scarce internal
analysis when it comes to entrepreneurial
opportunities resources necessary to make the venture succeed.
• “de-fanged” approaches to financial analysis
and cash flow modeling On the third day, you will learn about the
• the importance of time in understanding entrepreneurial business planning process and
return potential and risks how to work through the steps required to create
• how to translate a commercial proposition the plan. You will also learn how to effectively
into a financial proposition implement the plan, as well as:
• flexibility and abandonment options (and
what you should build into the business plan) • What investors (internal or external) look for
• risk bearing vs. risk sharing in an entrepreneurial business plan
• How to capture and communicate the
Includes a case study on using financial analysis
to shape and justify a venture. opportunity using an entrepreneurial business
plan model
• Strategies for managing the financial
process- and the difference between
management and entrepreneurial approaches
to profits and cash flows
• Creating a fit between the corporate strategy
and your venture
• Assessing and monitoring the health of the
project- and what you can do when things
start to go wrong.

6
 Page 7 Creating Value and Growth through Corporate Entrepreneurship

1. The Entrepreneurial Business Planning • Nay-sayers and skeptics

Process: Why Good Ideas Fail • Budget constraints
• Political rivalries
Planning is a process of setting goals and deciding • Fit with corporate strategy
how to attain them. Too often, though, those • The need for new learning
responsible for guiding a new venture fail to • Inaccuracies in your plan
create a planning document that captures and • Doubts about your ability to revive a stalled
communicates the opportunity. How can you venture
work through the consequences of different
strategies and tactics and fully clarify the human Includes discussions and examples of how such
and financial requirements for launching and problems were handled in actual situations.
building the venture?
2. When Things Go Wrong: Reassessing and
2. Comparing Entrepreneurial Business Plans Modifying the Business Plan
Using actual examples of entrepreneurial business How to be prepared when you need to modify the
plans, you will learn to differentiate between those plan because:
which are and are not likely to succeed. What to
look for in these plans in terms of: • There are changes in the value of the
opportunity (e.g. someone beats you to the
• Balance market)
• Completeness • Company strategy changes
• Impact • Problems with resources and cash flow
• The likelihood that the plan will generate emerge
investor confidence, whether the investor is • You suffer the loss of key team members or
internal or external to your organization. the venture champion
• The opportunity is not as good as you thought
Includes important lessons for entrepreneurial it was
business plan creation. • How do you know when it’s time to pull the
plug?
3. The Entrepreneurial business Plan Template
2. Life After Entrepreneurship: Lessons from
What should the entrepreneurial business plan
Corporate Entrepreneurs
look like? Why you should be prepared to
include such elements as:
What is the potential personal impact of leading
an entrepreneurial venture? How might your
• A description of the opportunity and its value
career and your corporate life be affected? What
to the company
those who have been through it have to say about
• Market analyses and research the payoffs, lessons, career development changes,
• Resource implications extended competencies, and altered points of view
• Sales strategies that corporate entrepreneurship can bring.
• Financial forecasting
• Investment requirements

3. Identifying Obstacles to Implementation For more information:

Selling the business plan inside the organization.
What you can do to anticipate and overcome such Call : 800-672-7223, ext. 5161
internal obstacles as: Email: ExecEdInfo@huizenga.nova.edu
Web site: www.huizenga.nova.edu/ExecEd