Download MGMT295D-Funk Syllabus PUBLISHED

MGMT 295D – BUSINESS PLAN DEVELOPMENT
Spring 2022 – 4 Units
Course Syllabus
Effective date: March 28, 2022
Instructor and TA Information
Instructor:
Email:
Mobile:
Office location:
Office hours:
Jon Funk (Continuing Lecturer)
[email protected]
310-701-4744
NA
Tuesdays 12:30 – 4 pm. Sign-up sheet provided by TA’s weekly.
Additional sessions by appointment.
Section 1 Teaching Assistant
Email:
Section 2 Teaching Assistant
Email:
Janli Gwo
[email protected]
Giana Tansman
[email protected]
Utilize the TAs for questions and advice. Any questions they aren’t able to answer will be forwarded to
Professor.
Course meeting times and location
Course Day & Time:
Classroom:
BruinLearn Course Site:
Thursdays
8:30am – 11:20am PT (Section 1)
1:00pm – 3:50pm PT (Section 2)
D-301
https://bruinlearn.ucla.edu/courses/131939
Contact BruinLearn support first if issues accessing course site
Pre-requisites/Co-requisites
Enforced prerequisite: MGMT 295A
Course Description
Catalog: Lecture, three hours. Fundamentals of developing effective
written business plans. Basic principles of developing plans for sales,
marketing, product or service, operations, financials, and management
and staffing functions of new startup businesses.
From the Instructor: For the purposes of this course, a successful startup is defined as follows:
“A new for-profit business established to meet a market need and having achieved self- sustaining status,
i.e. able to generate sufficient internal cash flow to sustain operations without external capital infusions.”
In this course, teams will develop a complete business plan for a startup enterprise. Each week will address
one of the sections of the business plan or a topic directly bearing on the overall plan. The completed plan
will be the final deliverable for the course.
Students will also prepare and then give an oral presentation of the plan, which will be presented to an
external group of panelists for critique, advice and suggestions.
This is a team-based course. Students are required to work in 4-6 person teams to produce a plan based on
a on a concept agreed upon prior to the beginning of the quarter. (See Team section.)
Course Objectives
The course objective is to produce a well-researched and complete business plan. For first-time founders, a
business plan significantly increases the likelihood of a startup company’s success.
A credible plan also provides a platform on which to base changes in strategy and execution which will
inevitably be necessary, as well as substantially improves a startup’s prospects for raising outside capital.
The plan can also be used as a reference in discussions with advisors, employees and other potential
partners.
The course aims to:
1. Educate students on the basics and construct each section of a structured business plan. Based on
each team’s initial business hypothesis, students will:
• Define the product or service
• Prepare industry and competitive analysis
• Perform market research
• Conduct primary research
• Plan for production and delivery of the product or service
• Prepare credible and detailed financial projections
• Learn about the alternatives for raising outside capital
• Further develop the capabilities to work within a collaborative team-based structure.
2. Introduce students to relevant reading materials that provide actionable information to support the
students’ achievement of the course objectives.
3. Introduce students to relevant external resources, especially within the Anderson community,
including other information sources and a speaker series comprised of successful founders and
investors.
Course Materials
Required:
•
Most assigned readings are reserved in a “Coursepack” on the Harvard Business Publishing website.
You are expected to purchase or otherwise acquire these readings. You will have to register on the
HBP site if you haven’t already. Most are $4.25 each.
295D – Business Plan Development | Syllabus | 2
THIS IS THE LINK TO COURSEPACK Please let me know immediately if you have issues gaining
access.
Excerpts from The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a
Startup. Noam Wasserman. Princeton, NJ: Princeton University Press, 2013. Assigned excerpts will
be distributed on the BruinLearn site.
All other materials will be provided on the course site.
o
•
•
Other recommended resources:
•
•
Further reading suggestions:
o Harvard Business Essentials and Alfred E. Osborne, Entrepreneurs Toolkit. Boston, MA; Harvard
Business School Press, 2005.
o Jeff Scheinrock and Matt Richter-Sand, The Agile Start-Up: Quick and Dirty Lessons Every
Entrepreneur Should Know. Hoboken, NJ, John Wiley and Sons, Inc., 2013
o Tom Eisenman, Why Startups Fail: A New Roadmap for Entrepreneurial Success. New York, NY
Currency, 2021
o Noam Wasserman. The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can
Sink a Startup. Princeton, NJ: Princeton University Press, 2012.
o Dermot Berkery, Raising Capital for the Serious Entrepreneur. New York, NY; McGraw Hill, 2008.
o Jessica Livingston. Founders at Work: Stories of Startups' Early Days. Berkeley, CA: Apress, 2008.
o Daniel Goleman. Emotional Intelligence: Why It Can Matter More Than IQ. (10th Anniversary
Edition). New York, NY: Bantam Dell, 2005.
Online Resources: Selected reference sites pertinent to this course and entrepreneurship. Please
feel free to let me know of possible additions to this list.
o https://www.ycombinator.com/library (iconic Y-Combinator’s resource library)
o http://steveblank.com (metasite with comprehensive resources)
o http://stvp.stanford.edu (Stanford Technology Venture Partners)
o http://www.startupucla.com (Startup UCLA)
o https://www.clerky.com/ (legal documents and advice)
o www.sba.gov (Small Business Administration)
o www.startupbiz.com (business plans & forms)
o http://www.uspto.gov (Patent & Trademark Office)
o www.bplans.com (sample business plans)
o http://techcrunch.com (covers technology start-ups)
o www.nvca.org (National Venture Capital Association; information on venture capital)
o www.pwcmoneytree.com (Worldwide venture capital investment activity)
Course Outline 1
Quarte
r week
Class
date
1
3/31/
22
2
4/7/2
2
3
4/14/
22
4
5
1
4/21/
22
4/28/
22
6
5/5/2
2
7
5/12/
22
Assignment due
Class topics
Assigned readings
Speaker(s)
• Course introduction
• Finalize teams
• “Lean Strategy”, “Beating the Odds When You
Launch a New Venture” (Coursepack)
• None
• Deliverable #1:
Hypothesis
Summary
• Deliverable #2:
Working
Financial Model
• Hypotheses Review
• Financial Modeling
• Financial Accounting Review (MGMT 403)
excerpts, “Building an Economic Model”
(BruinLearn)
• None
• Product Definition and
Competition
• “The Elements of Value”, Case: “Rent the
Runway” (Coursepack)
• Section 1 Ian Chen founder
Discotech
• Section 2 Max Berg founder
Eliqs Anderson ‘17
• Deliverable #3:
Product
Definition and
Competitive
Analysis
• Secondary and Primary
Research
• Industry Research and
Analysis
• “Note on Market Research”, Case: “Dropbox: It
Just Works” (Coursepack)
• Sections 1 and 2 Mick
Maclaverty / Cory Micheel
founders Highway Benefits
Anderson ‘19
• Deliverable #4a:
Industry Analysis
• Deliverable #4b:
Primary Research
Plan
QUARTER
“MIDPOINT”
• Primary Research
• Sales and Marketing (1)
• “Selling and Marketing in the Entrepreneurial
Venture” (Sections 1 – 2.1), Case: “iPhone
Applications…” (Coursepack), Founder’s
Dilemma excerpts (to be announced)
(BruinLearn)
• Section 1 Sherry Villanueva
founder Acme Hospitality
• Section 2 Mikel Noriega
founder Elenita Anderson ‘19
•
• TENTATIVE Progress
Summaries
• Sales and Marketing (2)
•
TENTATIVE
Completed
Team Survey
Deliverable #5:
Progress
Summary
• Deliverable #6:
Primary Research
Results
• Sales and Marketing (3)
READING SCHEDULE WEEKS 6-9 SUBJECT TO
CHANGE
• “Customer Discovery and Validation for
Entrepreneurs” (Coursepack), Founder’s
Dilemma excerpts (to be announced)
(BruinLearn)
• “What Entrepreneurs Get Wrong”, “Selling and
Marketing…” (Sect. 2.5 – 2.6), Case: “Fitness
Anywhere” (Coursepack), Founder’s Dilemma
excerpts (to be announced) (BruinLearn)
• To be determined
• Sections 1 and 2 Debbie Mullin
founder Copper Cow
SUBJECT TO CHANGE Revisions to the course schedule will be distributed as necessary on BruinLearn.
295D – Business Plan Development | Syllabus | 4
Quarte
r week
Class
date
8
5/19/
22
9
10A
10B
Assignment due
Class topics
Assigned readings
Speaker(s)
• Deliverable #7:
Sales and
Marketing Plan
• Operations and
Management
• “The Legal Forms of Organization”, :Why
Startups Fail”, Case: to be announced
(Coursepack), Founder’s Dilemma excerpts (to
be announced) (BruinLearn)
• Section 1 Nikao Yang founder
AdColony Anderson ‘06
• Section 2 Theo Lee founder
KPop Foods Anderson ‘17
• Raising Capital
• “Bootstrap Finance…”, “Financing New
Ventures…” (Coursepack)
• To be announced
5/26/
22
• Deliverable #8:
Operations Plan
• Deliverable #9:
Draft Projections
• Final Presentations
• Section 1 - Group 1
• Section 2 - Group 1
• None
• None
6/2/2
2
• Final Business
Plan: Written
Plan (Group 1)
• Final Business
Plan:
Presentations
(Group 1)
•
• Final Presentations
Section 1 - Group 2
• Section 2 - Group 2
• None
• None
6/9/2
2
Final Business
Plan: Written
Plan (Group 2)
• Final Business
Plan: Oral
Presentations
(Group 2)
295D – Business Plan Development | Syllabus | 5
Weekly Deliverables
These are required written assignments scheduled throughout the quarter, each representing a brief “first
draft outline” of a section of the final Business Plan. All are due at the beginning of class. Deliverables are to
be delivered in PDF form as instructed in the first class session or as the Professor may direct. I will provide
instructional “Guidance” in lecture the week prior to a deliverable’s due date.
Weekly deliverables are not graded; however, I will provide written comments and feedback which will be
returned to the teams in the week following the submission. You and your team will quickly get a sense of
how you’re doing by the character and volume of my comments. Investing time on each deliverable will
greatly improve the final plan.
Final Deliverables
The Final Plan and the Final Presentation are due at the same time depending on your team’s presentation
date.
Final presentations for each section will be divided into two groups, the first in week #10 during scheduled
class time and the second during the scheduled Final session in week #11. The final Business Plan is due at
the beginning of the session in which the final presentation is being given.
During the quarter teams will be asked for their presentation date choice and we will do our best to
accommodate preferences. Not all team members need to be present for the Final Presentation as long as it
has been cleared with the Professor and the rest of the team.
Each team is required to attend the entire session in which it presents.
Course Management
Communications from Instructor/TA
Announcements on BruinLearn will be the primary method of communications to students. Please
read all communications.
In Class
Each class will typically include review and discussion of most or all of the following elements:
•
Quiz: There will be 4 unannounced in-class quizzes on the reading materials. Details will be
announced (no quiz in the first lecture).
• Readings: All readings are required and will be discussed in class.
• Exercises: In-class exercises to enhance concept understanding will be conducted.
• Discussion: Topics regarding the reading material will be provided in advance. Students are
expected to do the reading and review the questions to enhance class engagement.
• Lecture: Classes will include a lecture on one of the sections of the business plan.
• Speakers: Guest speakers will present for 45 minutes in sessions where a speaker is
included.
Attendance policy
In-person attendance is required. TA’s will take attendance visually for each session.
One excused absence is permitted without penalty. To qualify as an excused absence, the student
must notify the TA at least the day before the class session with a valid explanation for the absence.
For each excused absence beyond the permitted single absence, 2 points will be deducted from the
5 possible points.
Each unexcused absences will result in a 2-point deduction for each occurrence.
295D – Business Plan Development | Syllabus | 6
This policy does not apply to Final Presentations. Details will be provided in lecture.
Remote Attendance
A student may attend a class via Zoom by prior arrangement only with the approval of the instructor.
Remote attendance will be counted as an excused absence. Remote attendance requires that the
camera be on for the entire session, and the student be clearly visible. Participation will not be
possible for students attending on Zoom.
Quizzes
There will be 5 unannounced multiple-choice in-class quizzes administered at the beginning of
selected classes. These quizzes are intended to provide motivation to the assigned material in
advance and to enhance class participation. See below for grading details. final grade. There is no
quiz in the first lecture.
Class Participation
Engaging with the class by live participation helps the entire class.
Participation is defined by speaking in class. If you want to participate, raise your hand. I’ll do my
best to fairly call upon students. I do not attempt to assess the “importance” of a participation
instance. Each student will be evaluated upon his or her total instances of participation. At the end of
the quarter the total will receive and points allocated over a normalized 18-point scale.
See below for grading details.
Office Hours
Office Hours are initially scheduled for Tuesdays 1230-4 pm. Not all team members are required to
attend a session. The TA’s will post a signup sheet on BruinLearn each week after the end of Section
2. Please follow the link for further instructions.
Class engagement and laptops
I request that all students minimize other activities during class time and devote their full attention
during each class session. I may cold-call on students to strengthen engagement.
If possible, I ask you take written notes instead of using your laptop out of respect for your fellow
students nearby, and because research shows the learning experience is improved.
If you have your laptop open, please use it for note-taking or other in-class directed activities only.
Otherwise, close your laptop.
Phones
Phones must be off during class.
Teams
Size
•
•
A 4-5 person team size is strongly recommended. Smaller teams are not permitted.
6-person teams are permitted; however, these teams will be assigned a heavier workload to
ensure individual student workload fairness for all teams. Deliverables with measurable goals,
including the final Business Plan, will have those numerical targets increased proportionately.
295D – Business Plan Development | Syllabus | 7
Organization
It’s strongly recommended that students arrive on the first day of class as members of a complete
team with an identified business concept to be used as the basis for the course. It’s helpful if at least
one student be proficient in Microsoft Excel.
If you are not a member of a formed team by the first class, we will be allocating time to finalize team
formation:
•
For teams with 2-3 members with a concept and requiring additional team members to reach
the minimum, you will be required to recruit other students to create a complete team.
• For individual students (“free agents”), you will be responsible for finding a place on an existing
team.
Split Teams
Teams divided between the two sections are NOT permitted. Having all team member present in the
same session during class will enhance team collaboration and improved team dynamics.
BPD Teams and BCO
As of the publication of this Syllabus, admission to the BCO Program requires:
•
•
•
•
A minimum of 3 students on each team to take both EVI and BPD (they can be different team
members)
At least 3 team members have received a B+ or better. 5-person teams in BPD are
recommended for BCO. 4-person teams meeting grade and other criteria for BCO can add a
5th member to apply to BCO even if that member hasn’t taken EVI and/or BPD.
At least 3 students must have worked on the same plan in BPD as that used for the BCO
application.
For a 6-person team the team must provide a compelling case for why all 6 members are
needed. For example, they must lay out the specific skill sets each member has, and that all
roles are necessary. The BCO selection process handles each 6-person team request on a
case-by-case basis.
Evaluation and Grading
Grades
Your overall course grade will be determined by your team’s and your individual performance using the
grading distribution below, and how your performance ranks in comparison with other students in the class
according to the grade distribution model at Anderson. Note that courses in which an overall grade of C is
received must be offset by higher grades in the same term for students to remain in good academic standing
at UCLA.
Grade Categories and Percentages
The course will be graded using the following percentages for each of the categories below. For ongoing
review of in-quarter trackable grading categories, please contact the Professor.
Category
Grade %
Final Business Plan (team)
Final Oral Presentations (team)
Quizzes (individual)
Class Participation (individual)
45%
15%
12%
18%
295D – Business Plan Development | Syllabus | 8
Attendance (individual)
Intra-Team Peer Feedback (end of quarter) (individual)
Total
5%
5%
100%
Quizzes (12%)
There will be 5 in-class quizzes, each consisting of 4 questions. At the end of the quarter, the top 3 scores
for each student will be totaled to provide the point score for that student.
Class Participation (18%)
Engaging with the class by live participation helps the entire class and is a meaningful portion of a student’s
grade. It will be tracked by the TA’s and aggregated at the end of the quarter.
Participation is defined by speaking in class. If you want to participate, raise your hand. I’ll do my best to
fairly call upon students. I do not attempt to assess the “importance” of a participation instance. Each
student will be evaluated upon his or her total instances of participation. At the end of the quarter the total
will receive and points allocated over a normalized 18-point scale.
Attendance (5%)
Attendance is mandatory and will be graded as previously described.
Final Business Plan (45%)
This is the final result of the class, hence the major weighting. It will be graded according to the quality of
analysis and thinking and how well the plan adheres to what the instructor stresses should be included.
Clear, concise, mistake-free writing and grammar are essential.
Detailed guidance will be provided well in advance of the due date for the plan.
Final Oral Presentations (15%)
The conclusion of the course is a final oral presentation of each business plan. It is NOT an investor pitch.
Final presentations will be scheduled in two groups, the first taking place during the class time in week #10
and the second during the final session the following week. Groupings will be determined during the quarter.
Generally, the presentation will be made to the class and 2-3 “panelists” (professional investors, founders
and startup professionals) who provide candid feedback.
As the final plans are presented, each attending student will act as an angel investor and invest up to a
hypothetical $100,000 in one, several or all of those ventures that he or she believes are worthy of their
investment. (other than their own team). Further details will be provided.
Reviewers, class feedback, and ranking of plans will be considered in the presentation section of your grade.
The presentation will be graded as to how effectively the presenters orally and visually convey the content
contained in the final plan.
Intra-Team Peer Evaluation (5%)
At the end of the quarter and using a confidential feedback form to be provided in advance of the final
presentations, each student will provide evaluations on each of the other team members as well as
comments on team dynamics. This ensures the instructor has a sense of internal load balancing and team
cooperation.
295D – Business Plan Development | Syllabus | 9
Other Information
BCO Admission Requirements (for reference only – questions contact the BCO Office)
•
•
•
•
•
•
5 person teams
EVI: Entrepreneurship & Venture Initiation
o At least 3 members of the BCO team must take this course
o At least 3 members of the BCO team must earn a B+ or better
Business need not be the same for EVI and BPD
BPD: Business Plan Development
o At least 3 members of the BCO team must take this course (they can be different team
members)
At least 3 members of the BCO team must earn a B+ or better
BPD business DOES need to be the same business to qualify for BCO
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)
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)
295D – Business Plan Development | Syllabus | 10
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 your request for
accommodation via the CAE website. Students with disabilities requiring academic accommodations should
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)
295D – Business Plan Development | Syllabus | 11