MGMT 160 – ENTREPRENEURSHIP AND VENTURE INITIATION

Spring 2023– 4 Units

Course Syllabus

Teaching Team Information

Faculty of Record: Matthew Pierce
Email: matthew.pierce@anderson.ucla.edu
Office location: Zoom
Office hours: By appointment via email

Teaching Assistant Harika Kolli

Email: harika.kolli.2024@anderson.ucla.edu
Office location: Zoom
Office hours: By appointment via email

Course meeting times and location

Course Day & Time: This class generally meets on Wednesdays from 1:00 PM – 3:50 PM PST.
Please see Course Outline for specific dates.
Course Location: D310
Course Site: https://bruinlearn.ucla.edu/courses/179061

Pre-requisites/Co-requisites
None.

Course Description
This course serves as a rigorous introduction to entrepreneurship and small business development from
the perspective of the entrepreneur. It is intended to be a self-contained course that introduces the
concepts of idea generation, market analysis, fundraising, legal corporate structures, and basic financial
accounting for entrepreneurial endeavors. Mastery of any individual subject area is beyond the scope of
this class, but the student will be expected to understand the basic concepts
introduced and demonstrate the attained knowledge through thoughtful
comments and insightful questions in class, written in-class exams, and a
graded team presentation on a topic relating to entrepreneurship. By
understanding the basic building blocks of new venture initiation,
students will be able to seek out additional resources (e.g. online
materials, guest lectures, etc.) that can supplement the material
learned in the course.
While this course will focus extensively on the core fundamentals of building a business, the class will also
emphasize the inherent experiential nature of entrepreneurship. Successful entrepreneurial students must
always be learning from the collective small business and entrepreneurial experience available: from
distinguished guest lectures on campus to family barbeques or a conversation with the local barber shop
owner. A two-fold approach will be adopted to expose students to the decisions faced by real life
entrepreneurs. First, guest lecturers will be invited to speak about their first-hand experience. The emphasis
of the guest lectures will be on small ventures, not mega-success stories like Bill Gates or Steve Jobs.

In addition to the guest lectures, Harvard Business School cases will be utilized to expose students to the real
decisions faced by entrepreneurs and introduce case-based learning. Case-based education is the dominant
learning mechanism utilized in top business schools around the world today to prepare the next generation
of business leaders. Cases are designed to present a snapshot in time when a business leader or leadership
team needed to make a critical decision. A case provides significant detail and the core information to be
considered by management when reaching a decision. These cases have been selected to highlight
entrepreneurial decisions including marketing a new energy drink (West Coast Chill in 2010), launching a
new bottled water brand (Liquid Death in 2022), fundraising for an early stage startup (Crowdfunding: A
Tale of Two Campaigns, 2014) and commercializing social robots (Jibo in 2015).

Course Objectives
At the end of the course, students will be able to understand: What is entrepreneurship? What makes a
successful entrepreneur? Can entrepreneurship be taught? What is case-based learning? Can you be an
entrepreneur part-time? What does it mean to be a full-time entrepreneur? Can you become an entrepreneur
even if you don’t invent a brand-new product or service? Where do “good” ideas come from? What criteria
should be used to judge ideas? What is a small business? What is a high-growth venture?

Course Materials
Required:
• Required Course Reading Pack: https://hbsp.harvard.edu/import/1134302
• Required Simulation Course Pack:
o Food truck simulation https://hbsp.harvard.edu/import/1134327
o Startup simulation https://hbsp.harvard.edu/import/1134318
• Alex Osterwalder, Yves Pigneur, Greg Bernarda, Alan Smith (2014). Value Proposition Design. Hoboken,
New Jersey: John Wiley & Sons. This text is referred to as “VPD” below. Purchase wherever books are
sold, e.g. on Amazon (~ $18 electronic, ~ $23 paperback):
https://www.amazon.com/Value-Proposition-Design-Customers-Strategyzer/dp/1118968050
• Alexander Osterwalder and Yves Pigneur (2010). Business Model Generation. ISBN-10: 8126533676,
ISBN-13: 978-0470876411. This text is referred to as “BMG” below.
• Note: you can download free preview of the book from the author’s website which contains ALL the
assigned reading material:
http://www.businessmodelgeneration.com/downloads/businessmodelgeneration_preview.pdf
• Additional required readings may come from free online resources.
• Links and references to optional readings will be posted on the Course Site.

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Course Outline
Module Weekly Title & In-Class Assignments
Date Pre-Class Reading/Media
/Week Key Topics Activities Due
Introduction to Required: None
Entrepreneurship; HBSP: A Perspective on Entrepreneurship, Howard H. Stevenson.
Entrepreneurial (NOTE: This article will tested on the exams, but it is not required that
Paths; you read the article before the first day of class!)
Opportunity Optional:
Recognition • Teaching Entrepreneurship https://youtu.be/8NBnoVrLFPU
1 01/10/24
• Entrepreneurs Do Three Things https://youtu.be/M7VZIbeUrSU
• ABC Nightline – IDEO Shopping Cart https://youtu.be/M66ZU2PCIcM
• Stanford University’s Entrepreneurship Corner, Larry Page on
Enterpreneurship
http://ecorner.stanford.edu/authorMaterialInfo.html?mid=1076
• One View of Entrepreneurship https://youtu.be/GBuDGJ6totE
The Business 8-10 minute, in- Required: Multimedia
Model Canvas; class quiz on • VPD: Intro (pp. xiv-xvii), Chapter 1 (pp. 6-49) Case: West
The Value West Coast Chill • BMG: pp. 1-49 Coast Chill,
Proposition Optional: William A.
2 01/17/24 Canvas; The • Business Model Canvas Explained (Kauffman Foundation & Strategyzer) Sahlman; Robert
Environment Map • https://youtu.be/wwShFsSFb-Y F. White;
• Business Model Canvas (Strategyzer) Stephanie Puzio.
• https://youtu.be/QoAOzMTLP5s
• Value Proposition Canvas (Strategyzer) https://youtu.be/ReM1uqmVfP0
Understanding Simulation: The Required: None
Customers; Food Truck • VPD: Chapter 1 (pp. 50-63)
Hypothesis-Driven Challenge • VPD: Section 2.3 (pp. 104-119)
Entrepreneurship • VPD: Chapter 3 (pp. 178-253)
Optional:
• Talking to Humans: Success starts with understanding your customers (free
e-book for academia) (pp. 30-65)
3 01/24/24
• HBSP: Why the Lean Start-Up Changes Everything, Steven G. Blank (free
download from http://www.steveblank.com)
• Testing With Humans (free e-book for academia)
• How to Build a Startup (The Lean LaunchPad)
https://www.udacity.com/course/ep245
• Steve Blank’s blog http://steveblank.com
• Eric Ries’ website http://theleanstartup.com

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Module Weekly Title & In-Class Assignments
Date Pre-Class Reading/Media
/Week Key Topics Activities Due
Entrepreneurial Required: None
Strategy • HBSP: Strategy Reading: Industry Analysis, Ramon-Masanell.
• California Management Review: Blue Ocean Strategy: From Theory to
Practice, W. Chan Kim & Renee A. Mauborgne
4 01/31/24 Optional:
• Interview with Michael Porter https://youtu.be/mYF2_FBCvXw
• Blue Ocean Strategy lecture by Mauborgne https://youtu.be/zrGOBdVm-KE
• Good Strategy / Bad Strategy lecture by Richard Rumelt
https://youtu.be/UZrTl16hZdk
Midterm; Required: Prepare for
Entrepreneurial • HBSP: Basic Accounting Concepts and Assumptions Exam for
Accounting; LTV & • HBSP: Overview of Financial Accounting material covered
5 02/07/24
CAC & TAM & from Sessions
Beachhead #1 - #4
Market
Raising Capital: Required: Case:
Introduction & • HBSP: Entrepreneurial Reading: Financing Entrepreneurial Ventures, William Crowdfunding: A
Crowdfunding R. Kerr, Ramana Nanda, James McQuade (Sections 1-2.7, 2.9-2.10, 3.2) Tale of Two
• Choose Wisely: Crowdfunding through the stages of the startup life cycle, Campaigns,
6 02/14/24 Business Horizons (2017) 60, 179-188, Jeannette Paschen Andrew
Optional: Zacharakis, et.
• Own Your Venture Equity Simulator http://www.ownyourventure.com al.
• A List of Top LA Accelerators and Incubators http://vator.tv/news/2013-05-
17-a-list-of-top-la-accelerators-and-incubators
Raising Capital: Required: Case: Jibo
Venture Capital HBSP: Entrepreneurial Reading: Financing Entrepreneurial Ventures,
William R. Kerr, Ramana Nanda, James McQuade (Sections 2.8, 3 & 4)
Optional:
7 02/21/24
• Example of Excellent Five Minute Pitch (DEMO 2011):
https://youtu.be/6Ybbi6-eId0
• SBA Small Business Plan Guidance https://www.sba.gov/business-
guide/plan-your-business/write-your-business-plan

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Module Weekly Title & In-Class Assignments
Date Pre-Class Reading/Media
/Week Key Topics Activities Due
Startup Startup Required: None
Simulation; Legal Simulation (in • HBSP: Legal Forms of Organization, Michael J. Roberts
Topics for class) • HBSP: The Protection of Intellectual Property in the United States, Myra M.
Entrepreneurs Hart & Howard Zaharoff
Optional:
• Legal Issues for Entrepreneurs - Formation and Founders Issues
http://www.fenwick.com/publications/pages/legal-issues-for-entrepreneurs-
formation-and-founders-issues.aspx
• Copyright Basics - Just Enough Copyright Law If You Are Not an Attorney or IP Expert
8 02/28/24
http://www.fenwick.com/publications/Pages/Copyright-Basics-Just-Enough-
Copyright-Law-If-You-Are-Not-an-Attorney-or-IP-Expert.aspx
• Trade Secrets Protection: A Primer and Desk Reference for Managers and In House
Counsel http://www.fenwick.com/publications/Pages/Trade-Secrets-Protection-A-
Primer-and-Desk-Reference-for-Managers-and-In-House-Counsel.aspx
• Patent Protection for High Technology Companies
http://www.fenwick.com/publications/Pages/Patent-Protection-for-High-Technology-
Companies.aspx
• Trademarks for High Tech Companies
http://www.fenwick.com/FenwickDocuments/TM_Selection_for_HighTech.pdf
Business Plans & Required: None
Elevator Pitches HBSP: Developing Business Plans and Pitching Opportunities, Lynda M.
Applegate & Carole Carlson
Optional:
9 03/06/24
• Example of Excellent Five Minute Pitch (DEMO 2011):
https://youtu.be/6Ybbi6-eId0
• SBA Small Business Plan Guidance https://www.sba.gov/business-
guide/plan-your-business/write-your-business-plan
Team Required: Prepare team
Presentations & None PowerPoint
Course Wrap Up Optional: presentation
• Entrepreneur Magazine Resources on Presentations
o https://www.entrepreneur.com/topic/presentations
10 03/13/24
o https://youtu.be/Mv2ZIPUR0fw
• Create an Effective Presentation Video (General Tips)
https://hbr.org/2011/03/create-an-effective-
presentati.html?cm_sp=most_widget-_-videos-_-
Create%20an%20Effective%20Presentation%22
Finals
Final Exam Comprehensive Final Exam, 180 minutes, closed book, open notes,
03/20/24 closed computer except for Respondus to take the exam in class.
(week)

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Evaluation and Grading
Required Assignments and Weighted Percentages
You will receive an individual grade in this course based on your performance throughout the course. The
grade will be determined as follows:

Assignments % of Grade
Attendance & Class Discussion (individual) 20%
Study Guide Exercises (individual) 7.5%
Mid Term Exam (individual) 20%
Final Exam (individual) 30%
Case Write-Up (individual) 2.5%
Startup Simulation (individual) 2.5%
Case Write-Ups (group) 10%
Group Presentation (group) 7.5%
TOTAL 100.0%
Grades
The final grades will be assigned based on a relative distribution. No more than 50% of the class will receive
a grade of “A-” or above. A typical grade distribution is approximately 40-45% of the class in the “A range”,
approximately 40-45% of the class in the “B range”, and 10-20% other.
Note: It is anticipated that all team members will receive the same grade for the group assignments. However,
individual students may have their grade lowered due to lack of contribution to the effort as determined by
the professor based on observation and peer-review team feedback.

Attendance and Class Participation

Since a significant part of learning takes place during class sessions, attendance, active case preparation and
class participation are all expected. Unless excused, if you miss more than ONE class session, your final grade
may be lowered. In particular, for each additional absence, you may lose 25% of the final class participation
grade (i.e. 5% reduction in your overall final grade). Missing more than fifteen minutes of any class may be
considered a half-absence, while missing more than one hour of class will be considered a full absence. Please
consult the TA for additional information or clarification if needed. Each student will be evaluated individually.
Class participation will be graded on a relative distribution.
For each absence (including the first absence), you must write a 5-page double spaced paper on the topic of
the day or a topic agreed upon by the instructor. Additional instructions will be provided to students that miss
or anticipate missing class. The makeup paper will be due by the beginning of the following week unless
explicitly excused in writing by the professor.
Please note, you should NOT take this class if you have any standing conflicts that would prevent you from
attending the class. No accommodation whatsoever will be made under any circumstances for students who
schedule other classes that partially or completely overlap with this course, either for their lecture component
or any course requirements outside (e.g. exams). Unfortunately, no accommodations of any kind will be made
for students with internships, paid or unpaid, that prevent you from attending class. In other words, you should
take MGMT 160 if you can actually attend the lectures live in person. Classes start promptly at the starting
time so please plan your schedule where you have time to make it to class on time.

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Note: signing an attendance sheet for another student or having someone else sign in for you on an
attendance sheet is blatant academic dishonesty (e.g. see below for Academic Integrity). There are no
warnings and students caught either having someone sign in for them or signing in for another student will
lose between 50% - 100% of their final participation grade in the course. Students may also be referred to
the Dean of Students for further disciplinary action for academic dishonesty.
No Laptop/ No Cellphone/ No Electronic Devices Policy
During lecture, case discussion, or guest speakers, we will have a “no laptop & no cell phone” policy. Students
are expected to pay attention during lecture and not be on social media or email or playing on their phones.
We will do several exercises throughout the quarter for which an individual laptop/tablet will be helpful. The
teacher will clearly indicate when it is appropriate to use your electronic devices. At the sole discretion of the
professor, you may receive a warning the first time you access your electronic devices outside of the
appropriate time. However, in general, each infraction of the no electronic devices policy will result in at least
a 25% reduction of your final class participation score. Any behavior considered disruptive will result in a 25%
- 100% reduction of your final class participation score.
EXCEPTION: Tablets that can be used flat on the table. Screens must not be on a stand or visible to other
students.
Note: CAE exceptions may apply for certain students.
Final Exam
A 180 minute in-class, closed book, open note, and closed computer (except for Respondus) comprehensive
final exam will cover all the material covered in the class. The final exam may consist of multiple-choice, short
answer, and essay questions. Students must take the final-exam using Respondus at the assigned time. No
make-up examinations will be allowed.

Midterm Exam
A 60-90 minute in-class, closed book, open note, and closed computer (except for Respondus) comprehensive
exams will cover all the material covered in the class (see Details Section). The exams may consist of multiple-
choice, short answer, and essay questions. Students must take the exam using Respondus at the assigned
time. No make-up examinations will be allowed.

Simulations
The class will play two interactive simulations (startup simulation & food truck challenge) during class as
detailed later in the syllabus. Active participation will be necessary to receive full credit for the simulations.
Students must be present in class at the assigned time for the simulation. No make-up simulations will be
allowed. The two simulations will be counted differently:
• The Food Truck Challenge: will be counted towards the participation grade. Participation in the food truck
challenge may be graded on a relative distribution.
• The Startup Simulation: will be counted individually towards the final grade (see above in the table “Components
of Final Course Grade”). Prof. Wilson, at his sole discretion and with written prior approval, may allow a student
to write a five page, single spaced paper on a mutually agreed upon topic on entrepreneurship to replace the
simulation grade. This paper will be graded pass/no-pass, and if it is deemed a pass by Prof. Wilson, the
student’s final exam score will be counted in place of a single missing simulation grade. The paper must be
submitted before the final exam for consideration. No exceptions. The startup simulation may be graded on a
relative distribution.
Note: To receive credit for the simulations, you MUST individually and personally purchase the simulation
course pack listed above under "Required Reading" from HBSP. You positively cannot share simulations with
any other student. Any student that hasn’t purchased the simulation course pack by 9 AM the day of the
simulation will receive an automatic zero.

[Course ###] | Syllabus | 7

Individual Case Write-Ups
Each individual case write-up will consist of a two page paper that applies the material learned in class and
applies critical reasoning skills to a business situation. Quantitative as well as qualitative analysis is expected.
The individual case write-ups will be graded on a relative distribution.

Group Case Write-Ups

Each group case write-up will typically consist of a three page paper that applies the material learned in class
and applies critical reasoning skills to a business situation. Quantitative as well as qualitative analysis is
expected. The group case write-ups will be graded on a relative distribution.

Study Guide Exercises

Each week study questions will be posted on BruinLearn for the weekly assigned reading. Students must
individually complete the Study Guide Questions and upload their answers by the due date. Students can
either upload a PDF of their typed notes OR very clean scan/images of their notes uploaded as a PDF. This
assignment will be graded on completion and the assignment being uploading on time. This is an individual
assignment and students should not work in groups or in shared documents on the study questions!

Group Business Pitch Idea Approval

Each team must meet with Prof. Wilson during the designated week with at least three distinct business ideas.
The team and Prof. Wilson with agree upon an idea for the final pre-feasibility business pitch group
presentation. This assignment will be graded on completion once an idea is approved.

Team Presentation
Early in the quarter, the class will be divided into approximately 5 person teams. Each team will work together
during the quarter to prepare a concise, PowerPoint presentation for the class representing a mini-feasibility
study for an approved business idea. Detailed instructions for the format and style of the presentation and
paper will be given during the quarter. In general, the presentation will be graded for clarity, reasoning, and
the intelligent use of supporting evidence. Most of the research will be conducted online, and students will be
expected to properly cite all resources used in preparing the presentation. To receive credit for the team
presentation, students must be present during the group presentation during the assigned class time as given
by the instructor. Students not present during the group presentation will be automatically assigned a 0% for
the group presentation. The presentations will be graded on a relative distribution.
Note: It is anticipated that all team members will receive the same grade for the group assignments and final
presentation. However, individual students may have their grade lowered due to lack of contribution to the
effort as determined by the professor based on observation and peer-review team feedback.
Note: Any student that elects the “Pass/No Pass” grading option for the course will not be assigned to a team
and will instead be required to write a twenty-page individual paper on a topic similar to the team assignments
as directed by the professor.

Anderson and Course Policies

AI Usage Policy
This course will allow the use of AI (Large Language Models, including ChatGPT, Bing with ChatGPT, Bard, and
others) to enhance your learning, not replace it! The goal is to expand student capabilities and output in
research and analysis, providing greater time to contemplate, analyze, and develop more sophisticated
analyses, recommendations, and leadership imperatives.

[Course ###] | Syllabus | 8

To facilitate the achievement of this goal, every assignment in the class will state whether using AI is
appropriate. If you are confused about what is allowed, please ask the instructor or the course assistant for
clarification. When using AI for individual or group assignments, you must acknowledge the tool's name and
how it was used using the following style.
o No content generated by AI technologies has been presented as my own work.
o I acknowledge the use of <insert AI system(s)> to generate materials for background research and self-study in
the drafting of this assessment.
o I acknowledge the use of <insert AI system(s)> to generate materials that were included within my final
assessment in modified form.

Netiquette
The written language has many advantages: more opportunity for reasoned thought, more ability to go in-
depth, and more time to think through an issue before posting a comment. However, written communication
also has certain disadvantages, such a lack of the face-to-face signaling that occurs through body language,
intonation, pausing, facial expressions, and gestures. As a result, please be aware of the possibility of
miscommunication and compose your comments in a positive, supportive, and constructive manner.

UCLA Policies
Code of Conduct
All participants in the course are bound by the UCLA Student Conduct Code
(https://deanofstudents.ucla.edu/individual-student-code) and UCLA Anderson Honor Code
(https://www.anderson.ucla.edu/documents/areas/adm/web/AndersonHonorCode.pdf).

Academic Integrity
UCLA is an institution of learning, research, and scholarship predicated on the existence of an environment of
honesty and integrity. As members of the academic community, instructors, students, and administrative
officials are all responsible for maintaining this environment. It is essential that all members of the academic
community practice academic honesty and integrity and accept individual responsibility for their work.
Academic misconduct is unacceptable and will not be tolerated in this course. Cheating, forgery, dishonest
conduct, plagiarism, and collusion in academic misconduct erode the University's educational, research, and
social roles.
Students who knowingly or intentionally conduct or help another student engage in acts that violate UCLA’s
expectations of academic integrity will be subject to disciplinary action and referred to the Dean of Students’
Office.
Please familiarize yourself with UCLA’s Academic Integrity Policy:
https://www.deanofstudents.ucla.edu/Academic-Integrity. Speak to your instructor if you have any questions
about what is and is not allowed in this course.

Integrity in Research
Integrity in research includes not just the avoidance of wrongdoing, but also the rigor, carefulness, and
accountability that are hallmarks of good scholarship. All persons engaged in research at the University are
responsible for adhering to the highest standards of intellectual honesty and integrity in research.
Please familiarize yourself with the University of California Policy on Integrity in Research
(https://www.ucop.edu/academic-personnel-programs/_files/apm/apm-190-b.pdf)

[Course ###] | Syllabus | 9

Accessible Education & Inclusive Education
Disability Services
UCLA is committed to providing a barrier-free environment for persons with documented disabilities. If you are
already registered with the Center for Accessible Education (CAE), please request your Letter of
Accommodation in the Student Portal. If you are seeking registration with the CAE, please submit your request
for accommodation via the CAE website. Students with disabilities requiring academic accommodations
should submit their request for accommodations as soon as possible, as it may take up to two weeks to review
the request. For more information, please visit the CAE website (www.cae.ucla.edu), visit the CAE at A255
Murphy Hall, contact CAE by phone at (310) 825-1501, or by telecommunication device for the deaf at (310)
206-6083.

Equity, Diversity, and Inclusion

Please familiarize yourself with UCLA Anderson’s commitment to maintaining an equitable, diverse, and
inclusive community:
(https://www.anderson.ucla.edu/about/equity-diversity-and-inclusion)

[Course ###] | Syllabus | 10