Syllabus
Eng 390.005 The Art of Entrepreneurship
Winter 2012
Time & Place:
Thursday, 6:30 to 8:30 P.M
1024 DANA Building
Instructor:
Ken Ludwig
Office hours: TBD
E-mail; ken.ludwig@gmail.com
Course Description:
Engineering, business, and LS&A students take a broad look at turning innovative ideas into successful commercial ventures in a global environment. By creating actual business plans, business models, and a personal life plan they will learn about innovation and creativity, risk management, stress, values, failure, ethics and other business and life skills.
The Art of E'ship is an unusually demanding course designed for ambitious students who may be interested in one day owning their own business or have ideas for starting their own business after graduating. Students will be exposed to the skills and traits entrepreneurs must have and what the "entrepreneurial lifestyle" is all about. Students will work in teams developing business models which will focus on opportunities in developing countries and on other assigned projects. In the process they will learn much of what it takes to grow an innovative idea into a successful business. ENG 3XX will mesh the tools of business with community development including: cultural sensitivity and privilege, need assessment, appropriate technology, sustainable green engineering, and the role of engineering and other disciplines in society.
This class exists to help students determine whether the entrepreneurial path is right for them and give them the confidence to proceed with a real business venture. It is NOT “How to start a business in X easy steps”. The course includes guest conversations with local entrepreneurs and an entrepreneur interview assignment. In addition, the class will address Social Entrepreneurship, and how it is changing the way business is done. Students will develop business models that focus on energy and/or water needs in a developing country. Other topics addressed include innovation and creativity, risk identification, stress, failure, values and necessary business skills. Throughout the course students will assess their goals and values to create a personal "life plan". The class is designed to be interactive and student centered. This course is designed to be unstructured and will not adhere rigidly to the syllabus. Changes will be made as opportunities present themselves much the way that "real world" businesses react to changes in their environment. Pass/Fail is based on performance on Individual and team assignments, class projects, class participation and the instructor's assessment.
Honor Code
We follow the spirit of the College of Engineering Honor Code. Unethical conduct will be cause for failure.
To learn more, visit http://www.engin.umich.edu/students/honorcode/code/index.html.
Homework & Participation
Attendance in class is very important for your own learning but also for your teammates and is thus mandatory. All assignments are to be completed on time. We have “hard” deadlines. Exceptional circumstances will be addressed on a case-by-case basis. The result of missing an assignment is failure. All assignments must be completed by semester end. The work within assigned groups will be an important part of the learning experience and the grading process. The teams will evaluate individual team member performance, and these written evaluations will be consulted in determining a Pass/Fail grade.
Intended Outcomes:
1) Provide information that allows the student to make an informed decision prior to embarking on an entrepreneurial career.
2) Demonstrate the skills that are required of entrepreneurs and people who practice innovation. This will allow students to build the requisite skills prior to starting a business.
3) Teach the basic skills of working as part of a group, group development, sales, negotiation, and dealing with risk and uncertainty.
4) Introduce the basic concepts of building a business in a global economy.
5) Give the student experience in writing a business plan and presenting it.
6) Have the student create a personal life plan.
Teaching Approach:
This class will consist of about thirty percent lecture/discussion. Several of the classes will be conversations with entrepreneurs relating their experiences and points of view. The balance of the classes will consist of case studies, role-playing, workshops and other interactive learning techniques including class time devoted to working on business plans and other projects. Some projects will be shared globally via social media and/or YouTube.
Assignments & Exams:
Pass/Fail is based on individual assignments (Entrepreneur Interview, Book Reviews, and Life Plan Paper among others), team assignments (Business Plan, Business Plan Presentation, and Team Member Assessments), class projects, class participation and the instructors’ assessment.
Course Materials (Agreed Upon Reading):
Texts: TBD
