Entrepreneurship in Action Syllabus

Harvard Summer School Last updated 03082021 DRAFT PLEASE NOTE: READINGS WILL BE VERIFIED IN MAY 2021 CAPSTONE IN MANAGEMENT: Entrepreneurship in Action Course Code MGMT S-599 Credits / Students: credits Completed required core courses and pre-capstone Pre-requisites: prior to enrollment Module SUMMER 2021 Instructor Dr Henrik Totterman Email henrik_totterman@fas.harvard.edu +1 781 654 6616 / https://harvard-dce.zoom.us/j/ Phone / Zoom 7939486386 Office hours Before class and by appointment Class Times and Mondays-Thursdays, noon-3 pm @ @ Interactive Live Rooms Zoom Class, Class starts on June 21 Pre-assignment Submit preparatory assignment prior to course start (see homepage / assignments for date) Page of 12 Harvard Summer School COURSE DESCRIPTION “For me, the ultimate goal is for management students to gain an in-depth understanding of what it takes to build and lead a modern company or to work in such an engaging enterprise after graduation I've designed the capstone for students with the ambition to lead and build modern companies as employees, entrepreneurs, or business consultants You'll learn all the phases, skills, and process of entrepreneurial management Then, you'll apply this methodology to a client company project You'll experience firsthand how to transform culture and drive sustainable growth by helping your client implement a system of entrepreneurial management.” Dr Henrik Totterman, Instructor The management program capstone, Entrepreneurship in Action, offers you the experience of consulting for a real organization to present them with a carefully designed and well-researched solution to a current problem or question Depending on the client assignment, your deliverable may take on many forms, including a project, analysis paper, or business plan You complete the capstone work in a classroom setting with fellow degree candidates, all of whom are working toward the same goal The project is faculty directed in that there is a structured syllabus and a similar final project for all students Registration for the capstone is the same as a course, however you must pay close attention to prerequisites and course sequencing The capstone builds on previous insights by focusing on key competencies learned throughout the program on how to execute entrepreneurial management in a modern company setting Entrepreneurial management, as compared to corporate management, is the guiding model The focus will be on flexibility, innovation, resource management, and responsiveness when starting and operating high growth potential ventures By learning the underlying method, you'll gain an understanding of the challenges in the entrepreneurial process including: (1) the ability to solve heterogeneous problems with speed, (2) drive profit through adaptation and agility, and (3) conserve resources while keeping people engaged in times of continuous transformation Upon completion of the capstone course, you will have analyzed a corporate challenge and presented your solutions to a corporate client COURSE MATERIALS You must have access to your own copy of the course pack and be acquainted with all the course material at the start of the course, no exceptions (!) Readings for each session announced under the Course Outline below Harvard Course Pack (includes mandatory cases and articles) You will buy this from Harvard Business Publishing website Use the link provided on course homepage Instead of buying Discovery Skills #1-5 through the course pack - you may want to buy the entire book (roughly $23 on Amazon) Jeffrey H Dyer; Hal B Gregersen; Clayton M Christensen (2011) The Innovator’s DNA Recommended textbook: • Abbosh, O, P Nunes, and L Downes (2019) Pivot to the Future: Discovering Value and Creating Growth in a Disrupted World, Public Affairs • Hess, E.D (2012), Grow to Greatness: Smart Growth for Entrepreneurial Businesses Stanford • Andler, N (2016) Tools for Project Management, Workshops, and Consulting Publicis • Maurya, A (2012) Running Lean: Iterate from Plan A to a Plan That Works O’Reilly Media • Abbosh, O, P Nunes, and L Downes (2019) Pivot to the Future: Discovering Value and Creating Growth in a Disrupted World, Public Affairs • Keeley, L et al (2013) Ten Types of Innovation: The Discipline of Building Breakthroughs, John Whiley & Sons See also: Doblin (homepage) Ten Types of Innovation https://doblin.com/ten-types (080819) Check out: Harvard Business Review (www.hbr.com), Inc Magazine (www.inc.com), Times (www.times.com), the Economist (www.economist.com) etc and other relevant Page of 12 Harvard Summer School media for strategy related content You may also be interested in the Strategic Management Society (www.strategicmanagement.net) and their Strategic Management Journal Other helpful materials, and examples are provided with each assignment and on the course homepage • Strategy Reading: Industry Analysis Ramon Casadesus-Masanell • Main Case City of Somerville:Using Activity-Based Budgeting to Improve Performance in the Somerville Traffic Unit • Main Case MedellÃn's Transformation: Towards a More Equitable, Innovative and Participatory Urban Society Ana Isabel Duch, Joan E Ricart, Pascual Berrone • Web Article How to Attract Startups and Tech Companies to a City Without Relying on Tax Breaks Jeffrey Bussgang, Craig Montuori, William Brah • Web Article One Way to Finance Tech Startups Outside of Superstar Cities Edward Jung • Industry And Background Note The Brand Management of Places Elie Ofek, Nathaniel Schwalb • Article Crowdfunding for the Development of Smart Cities Stella Care, Annarita Trotta, Rosella Care, Alessandro Rizzello • Web Article What Inclusive Urban Development Can Look Like Jodie W McLean, Richard Florida • Main Case Entrepreneurship for All Lynda M Applegate, Julia Kelley • Article Rise of the Startup City: The Changing Geography of the Venture Capital Financed Innovation Richard Florida, Charlotta Mellander • Article The City as a Lab: Open Innovation Meets the Collaborative Economy Boyd Cohen, Esteve Almirall, Henry Chesbrough • Article The Making of the Urban Entrepreneur Pablo Munoz, Boyd Cohen • Article A Smart City Is a Collaborative Community: Lessons from Smart Aarhus Charles C Snow, Dorthe Dojbak Hakonsson, Borge Obel • Governing the City: Unleashing Value from the Business Ecosystem Ivanka Visnjic, Carmelo Cennamo, Andy Neely, Nikola Visnjic • Note Cross-sector Collaborations for Shared Prosperity • Article Sharing Economy: New Rules for New Times: Business & Society in the Balance Sofia Ranchordas LEARNING OBJECTIVES The objective of the capstone is to solve practical real-life leadership challenges provide by a client Participants graduating from this class will have conceptual and practical insight about business building and growth The course is intended as a comprehensive introduction to the underlying dynamics of entrepreneurial businesses It brings together insights from previous Harvard Extension School management and entrepreneurship courses, and assists participants in applying these insights to the entrepreneurial and corporate setting Page of 12 Harvard Summer School The course insights are relevant for entrepreneurs and corporate managers regardless of their future career prospects or organizational setting In a challenging economic landscape, creative and reflective thinking capabilities are essential for any business school graduate, especially for someone working with entrepreneurial businesses In practice, this implies an ability to think independently, understand content and context, and having means to identify problems and state relevant questions It also implies an ability to narrow down, search for essential information, and having the capacity to collaborate and draw executable conclusions together with other stakeholders The key component throughout the course is to learn more about entrepreneurial businesses together with likeminded participants Key (Assessed) Learning Outcomes: On completion of this course, students should understand and be able to the following: On the conceptual level: have an understanding for dynamics and elements associated with business building and various forms of entrepreneurial growth On the practical level: get acquainted with various tools and learn to apply these in business building and managing business growth Develop creative and reflective thinking capabilities essential for any business school graduate, especially for someone working with business building and growth companies in a challenging economic environment Supplemental Learning Outcomes: While not assessed, it is anticipated that students will develop the following: a) Understand the importance of having a solid integration of management-, customer- and stakeholder logics b) See how different ownership constellations influence the growth of firms c) Have access to and experience of frameworks and tools for analyzing and comparing organizational and managerial practices in growing firms a) Grasp the relationship between failure, iterations and success COURSE FORMAT The Management capstone track is divided into two distinct stages: • The online Pre-Capstone Tutorial (MGMT E-597, Spring 2021) is completed during the spring term after completing seven core courses, which is a comprehensive introduction to the underlying dynamics of entrepreneurial business • This on campus three-week Capstone (MGMT S-599, Summer 2021), completed as an on-campus course, and must be completed right after the spring pre-capstone Under no circumstances can you complete the pre-capstone, and then complete the capstone a year or two later ‘Learning by preparing and doing’ is actively employed as a learning approach, as it enhances creative and reflective thinking capabilities among participants This is a highly intensive course taught in class in a four day / three hour per day format over three weeks, which is why missing class will affect negatively on your participation grade Missing any of the weekly wrap-up challenge team activities will result in zero points for each missed session Attending team meetings are required components of the program, and are considered an important part of the experiential learning process Please see the section ‘Course Outline’ for session specific preparation and agenda Class sessions differ significantly from traditional lecture-based courses as emphasis is placed on active participation in the learning process, both as a learner and contributor You will spend most of the class time in interactive discussions regarding conceptual and practical material that is generated and prepared to a large extent by participants for discussion in class The Instructor introduces new themes, operates as facilitator, and Page of 12 Harvard Summer School utilizes a variety of techniques to stimulate classroom discussion The course structure implies that you will work individually, in pairs, or groups on assigned tasks before, during, and after each class Your classmates and I expect you to be well acquainted with assigned material and tasks before each class, and we look forward to having you play an active role in conversations It is crucial that you get a copy of the course book and reading package In addition, you are expected to actively seek information and knowledge relevant to strategy, management, and strategic management in particular When all class members are prepared and engage, we all learn a lot more and can enjoy the time spent together For further information visit: Student Responsibilities policies Teams will be formed by the instructor and announced during the first few days of class You will be assigned to a team containing roughly participants, who together represent a unique cultural experience and educational setting Use your teamwork related experience and expertise to foster a creative and vigorous professional working climate GRADING Course related exercises and assignments are designed to be practical, which signifies that they have at least indirect and typically direct business applicability Please observe that more specific guidance is provided before each assignment in class and on the course homepage, including assignment rubrics when applicable All assignments must be uploaded through the course page Assignments submitted after the deadline will receive a 10% grade discount for each additional day Method of Assessment A1 Individual Assignment: Foundation for Breakthroughs A2 Individual Case Study: Applying Breakthroughs A3 Team Assessment: The Next Growth Engine A4 Class Participation Weight Link to CLO Assessment Length or Equivalent Due Date (@10:00pm) 20% Pre-understanding 3-page report Sunday before class Entrepreneurial Advise 4-page report Solution report & presentation 40% 30% 10% 1&2 Launch first class Deadline Sunday before last week Due evening before last class Fri post class As a participant, you will contribute individually and as part of a team Individual preparation and learning is based on an individual pre-assignment and take-home assignment, and you will work in teams on specific challenges during the course In addition, your activity and quality contributions as participant are graded with peer assessment input The table provides a detailed overview of the grade breakdown, and each assessment is described in detail in Appendix: Assignments Contact the Instructor if you have questions regarding a specific assignment Keep in mind that successful executives and entrepreneurs often not have all the necessary resources and information Still they Page of 12 Harvard Summer School frequently manage to cope with this uncertainty and contribute with creative solutions and admirable performance ACADEMIC INTEGRITY You are responsible for understanding Harvard Summer School policies on academic integrity (http:// www.summer.harvard.edu/policies/student-responsibilities) and how to use sources responsibly Not knowing the rules, misunderstanding the rules, running out of time, submitting the wrong draft, or being overwhelmed with multiple demands are not acceptable excuses To support your learning about academic citation rules, please visit the Resources to Support Academic Integrity (http://www.summer.harvard.edu/resources-policies/resources-support-academic-integrity) where you will find links to the Harvard Guide to Using Sources (https://usingsources.fas.harvard.edu) and two free online 15-minute tutorials to test your knowledge of academic citation policy The tutorials are anonymous open-learning tools ACCESSIBILITY The Summer School is committed to providing an accessible academic community The Accessibility Services Office offers a variety of accommodations and services to students with documented disabilities Please visit http://www.summer.harvard.edu/resources-policies/accessibility-services for more information Students are responsible for arranging all accommodations through the Accessibility Services Office COURSE OUTLINE Class Topic(s) Covered Introducing course & challenge: innovation, breakthroughs, consulting • Preparation: Get inspired, discuss with your peers, and read extensively in magazines (e.g www.hbr.org, www.inc.com, www.un.org, or www.interaction-design.org etc.) Prepare by getting acquainted with course material, remember in particular to review course book chapters, and other relevant material (including daily news) • Description: We focus on course orientation and discuss objectives and key themes We will also begin to explore topics that will be treated in more depth as the course progresses Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2009) The Innovator’s DNA Harvard Business Review, 87(12), 60-67 • Verganti, R.(2016) The Innovative Power of Criticism Harvard Business Publishing (R1601G-PDF-ENG) • Innovation & experimentation: Scott Cook (2015, Nov 6) Innovation Fueled by Experimentation, Stanford (accessed 080719) Page of 12 Harvard Summer School Class Topic(s) Covered The past, the now, and the future: innovation breakthrough process • Preparation: Get acquainted with assigned material and join classes with an open, positive, and creative mindset • Description: We focus on identifying sources of innovation and explore how to frame problems Key questions: how to use tools and why an engaging approach is key in overcoming struggles in a creative fashion Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #1: Associating-How Making Connections Across Seemingly Unrelated Fields and Disciplines Triggers Your Innovative Powers HBR Press: Product #: 8370BC-PDF-ENG Class Topic(s) Covered Defining context: players, problems, opportunities stated as assumptions • Preparation: Read the assigned material, and explore in advance the targeted market • Description: We will step into the world of the challenge, by getting insight into the theoretical and methodological approach of innovation and entrepreneurial management We will also explore different fields and learn to apply the methods by stating assumptions Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #2: Questioning-How Inquisitive Thinking and Provocative Questions Spark Innovation, HBR Press: Product #: 8371BC-PDF-ENG • Video: Sprouts (2017) The Design Thinking Process https://www.youtube.com/ watch?v=_r0VX-aU_T8&vl=en Class 4: Market Safari I Topic(s) Covered Observing the business landscape: test and verify assumptions Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #3: Observing-How Watching Your Customers, Other Companies, and the World Around You Can Lead to Game-Changing Innovation HBR Press: Product #: 8372BC-PDF-ENG • Observing clients: https://www.youtube.com/watch?v=OnygRoBAXFA WEEK II: DESIGN - REFINE Page of 12 Harvard Summer School Class Topic(s) Covered Customers and stakeholders: verify problem, consider different playgrounds • Preparation: Get acquainted with assigned material, and continue to search actively At the end of the Market Safari you defined additional assumptions to be tested, this time related to customers and other providers in the market • Description: We get together to discuss findings from empirical data collection and continue to work on designing services with social impact Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #4: Networking-How Interacting with People Outside Your Social and Professional Spheres Can Jump-Start Innovation HBR Press: Product #: 8377BC-PDFENG • Customer jobs: Christensen C (2016, Mar 31) Understanding the Job (accessed 080819) Class Topic(s) Covered Competition and existing solutions: focus on a playground, creativity and initial discoveries • Preparation: Get acquainted with assigned material, and continue to search actively Be ready to bring forth detailed insights on key stakeholders • Description: We get together to define and analyze associated stakeholders, and their roles in business landscape Required Reading & Preparation Class Topic(s) Covered Creating and testing solutions: test different ways to solve a problem • Preparation: Get acquainted with assigned material, search on your own, and get out from the building • Description: During class we will learn about prototyping and Minimal Viable Products Required Reading & Preparation • Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #5: ExperimentingHow Your Willingness to Try New Things, Take Something Apart, or Build a Prototype Boosts Your Power to Innovate HBR Press: Product #: 8378BC-PDF-ENG • Experimentation: Govindarajan, V (2012, Jun 6) Run a Disciplined Innovation Experiment (accessed 080719) Page of 12 Harvard Summer School Class 8: Market Safari II Topic(s) Covered Embracing the business landscape: desk and field research to refine scoping Required Reading & Preparation Dyer, J., Gregersen, H & Christensen, C (2011) Discovery Skill #4: Networking-How Interacting with People Outside Your Social and Professional Spheres Can Jump-Start Innovation HBR Press: Product #: 8377BC-PDF-ENG WEEK III: FINALIZE - CONSULT Class Topic(s) Covered Verify key facts or pivot: value propositions for all stakeholders • Preparation: Get acquainted with assigned material, search on your own, and get out from the building • Description: We define strategic goals and actions that are ambitious yet realistic in terms of executing for growth impact We will also discuss strengths, practices, and competitive advantages, which enables sustainable growth Required Reading & Preparation • Chirio, G (2018) The Ways to Grow a Company, Harvard Business Review, June 14, 2018 https://hbr.org/2018/06/the-6-ways-to-grow-a-company • Analytics: Handy, T (2017, Mar 31) The Startup founder’s Guide to Analytics (accessed 080719) Class 10 Topic(s) Covered Storyboards, concepts, action: visualize solutions, tactical questions, plans, and FAQs • Preparation: Get acquainted with assigned material, search on your own, and get out from the building • Description: We focus on the innovation breakthrough process by learning to optimize and finalize a design suitable for your proposal Required Reading & Preparation • Video: Forbes (2009) Present Like Steve Jobs https://www.youtube.com/watch? v=S4UEJMuo0dA • Article: Fast Company (2014) Death to Powerpoint: How to speak like a pro without the slides https://www.fastcompany.com/3024536/death-to-powerpoint-how-to-speak-likea-pro-without-the-slides Page of 12 Harvard Summer School • 6-Page memos: Gallo C (2018) Jeff Bezos Banned PowerPoint in Meetings His Replacement Is Brilliant, Inc Magazine (accessed 022819) Topic(s) Covered Delivering solutions to the business landscape • Preparation: Work on collecting final pieces of evidence to support the presentation • Description: We will finalize evidence from the process into compelling demonstrations of our class and team level achievements, along with presenting realistic long-term deployment strategies to our client We will also wrap-up our shared explorative learning journey Development areas and priorities: positioning of new growth engines, verify metrics that matter • Description: We focus on areas that require particular attention to reach set goals and actions We will also discuss underlying risks and uncertainty, and how to take these into consideration when designing the organizational structure, processes, and considering other critical factors like identifying funding opportunities Course Wrap-Up Required Reading & Preparation • Aversa, P., Haefliger, S and Reza, D.G (2017) Building a winning Business Model Portfolio, MIT Sloan Management Review Class 11: Market Safari III APPENDIX: ASSIGNMENTS Ensure you make appropriate references to original sources of insights, concepts and models presented in any secondary sources You want to reference actively and its strongly encouraged that you use tools and concepts presented in this and also previous courses to strengthen your views In terms of balance between different headings, provide enough background and insights to clarify your approach, with particular emphasis on your findings, conclusions, and action items Page limits exclude appendices, so feel free to move content to appendices and briefly summarize in report Assessment Description: Individual Assignment Assignment Name Foundation for Breakthroughs Assignment Weight 20% Detailed Assignment Description The purpose of this assignment is to systematically analyze a given business landscape, which is announced well in advance of the course (homepage under assignments) This assignment forms the basis for the course, field research, and culminates in learning reflections from field research and the shared learning journey See course page for details 1.Task: Become acquainted with the course material and the assignment spePage 10 of 12 Harvard Summer School cific guidance by visiting the course homepage (assignments) 2.Task: Study in detail the assigned business landscape (people, enterprises, industries, and the society at large), by searching for insights and trends online, print media, course materials, and perhaps even via personal connections that you think are relevant for the task at hand 3.Task: Based on your research, propose at least three areas of interest when it comes to business related innovation and unleashing trapped values in the given context 4.Task: Write all this down with clear headings: Introduction, Analysis, Key Findings, and Conclusions (Max pages: font 12p, 1.5 spacing, normal margins, excluding appendices) Assignment Rubric Assignment specific guidance and a rubric will be posted on the homepage Assignment Name Applying Breakthroughs Assignment Weight 40% Detailed Assignment Description This assignment builds on the individual pre-assignment and the course learning journey, focusing this time on a particular unit of analysis (community, industry, company, or customer segment) that you assist in developing the next growth engine The assigned object may be located anywhere in the world Prepare for this assignment thoroughly, with the support of relevant literature, external sources, and interviewing relevant stakeholders Assess in particular the existing mechanisms that either enable or constrain the development of growth engines and 10x growth opportunities Topic of the assignment: Reflection and advise on developing new growth engines for a company or organization of your choice Task: Get acquainted with select object get excited to help develop new growth engines Task: Analyze the given context and the underlying setting in detail, with the support of findings from the pre-assignment, the course literature and any publicly available material relevant to gain a thorough understanding and insights Task: Based on your research, propose at least three comprehensive recommendations when it comes to business related innovation and unleashing trapped value for this particular object Task: Write all this down with clear headings: Introduction, Overview Analysis, Key Findings, and Conclusions (Max pages: font 12p, 1.5 spacing, excluding appendices) Assignment Rubric Assignment specific rubric will be posted on the homepage Assessment Description: Individual Case Study Assessment Description: Team solution report & presentation Assignment Name The Next Growth Engine Assignment Weight 30% Page 11 of 12 Harvard Summer School Detailed Assignment Description This purpose of this assignment is to make an innovation deep dive into a particular business landscape Your team will get a chance to work for a client assigned at the beginning of the course, and transform into innovation oriented consultants Your team will offer advise highly relevant in these times times of continuous transformation flavored with competition, risks and uncertainty, complicated further by the rapidly changing business environment Topic of the assignment: Professional Advisory, Leadership, Innovation, Customer Insights Task: Throughout the course your team will be working on an assigned client challenge, which is to build the next growth engine that takes into consideration the society, industry, enterprise, and people Task: Preparation, execution, and reflection related to three distinct market safaris, which signify primary research through observation, networking, and interaction with people in the examined context Task: Creating good ideas and concepts based on a thorough understanding of the problem context, and by designing and refining solutions to address sustainable and significant market opportunities Task: Produce in teams a comprehensive solution report: Introduction, Overview Analysis, Key Findings, and Conclusions (No page limit: font 12p, 1.5 spacing, excluding appendices) and presentation that describes growth engines in highresolution detail Present research and findings to client, covering (1) trends and insights, (2) new growth engines and (3) pipeline of business concepts Assignment Rubric Assignment specific rubric will be posted on the homepage Active participation is expected from all members of the team throughout the course Assessment Description: Class Participation with Peer Evaluation input Team members will complete an evaluation of the contribution of their peers The evaluation may result in a grade that is above or below the team grade Page 12 of 12 ... PowerPoint in Meetings His Replacement Is Brilliant, Inc Magazine (accessed 022819) Topic(s) Covered Delivering solutions to the business landscape • Preparation: Work on collecting final pieces... creative and reflective thinking capabilities essential for any business school graduate, especially for someone working with business building and growth companies in a challenging economic environment... divided into two distinct stages: • The online Pre-Capstone Tutorial (MGMT E-597, Spring 2021) is completed during the spring term after completing seven core courses, which is a comprehensive introduction