05 Feb MBA6710 Entrepreneurial Organizations

MBA6710 Entrepreneurial Organizations & Small Businesses Week 1 Project Instructions Aspects of Individual Creativity As a human relations specialist at a small manufacturing firm interested in adding employees capable of conceptualizing and designing new products, you have been asked to develop screening criteria to rate new recruits on the following dimensions: Knowledge, skills, and expertise Drive, motivation, and perseverance (intrinsic motivation) Creative thinking Self-confidence, independence, and willingness to take a risk Willingness to be flexible and seek support as required Analyze in detail the screening criteria you will develop to rate new recruits, long with the recommendations you will make to individual departments in their quest to hire highly innovative individuals. MBA6710 Entrepreneurial Organizations & Small Businesses Week 2 Project Instructions Incorporating Innovation and Entrepreneurship into Corporate Strategy The president of your company has recently announced the need for a greater effort to incorporate innovation and entrepreneurship into organizational strategy. The president has asked you to research the requirements necessary for this to happen. Your initial list identifies the following requirements: Ongoing environmental monitoring An entrepreneurial climate Encouragement of entrepreneurial behavior A strong customer/stakeholder focus Analyze why each of these is important along with your plan for achieving them. MBA6710 Entrepreneurial Organizations & Small Businesses Week 3 Project Instructions The Business Plan Design a detailed business plan for a new product, service, or business venture of your choice. This could be an idea you have been contemplating or a product presently being marketed, but your business plan must reflect the uniqueness of the idea. For example, it might involve the modification of a certain product based on the unique needs of your community or peer group. Follow the business plan outline provided in Table 8.1 of the course textbook. Be sure to include: Title page Table of contents Executive summary Description of product, service, or business Description of industry or industry closest to your product or service Marketing plan Financial plan Production plan Organizational plan Operational plan Summary Appendices (exhibits) While it is expected that plan components may vary in length, each should contain detail commensurate with its nature and importance. MBA6710 Entrepreneurial Organizations & Small Businesses Week 4 Project Marketing and Customer Analysis Using the product, service, or business idea that you developed in the your business plan from the W3 Assignment, evaluate the factors important in conducting a detailed marketing and customer analysis, including: Market potential Evidence of customer interest Relevant buying motives and customer requirements Present and potential competitors and overall competitive intensity Short- and long-term market influences Market changes presently taking place External regulations Market history and traditions Present and potential obstacles facing the market Market gaps to be filled Opportunities for partnerships with other firms in the industry Evaluated the most viable market position for your new product, service, or business. MBA6710 Entrepreneurial Organizations & Small Businesses Week 5 Project Instructions Performance Measures Scenario: In your quest to encourage innovation and entrepreneurial behavior in the medium sized medical equipment company you founded five years ago, you see the need to develop specific measures of performance against which innovative products or services can be measured once they are developed Summary: Provide a 1-2 paragraph summary describing the medium-sized medical equipment company you founded (may create hypothetical details along with brief research about such firms). In essence, what is it? What does it do? Who are its primary customers? Description: Provide a 1-2 paragraph summary of recent innovations your organization has implemented (may create hypothetical details along with brief research about recent innovations in the field). In essence, what are the innovations? What are the potential benefits of such innovations? What are some of the challenges of the innovations or innovation implementation process? Proposal of Measures: Propose how the following financial and non-financial measures will be used to assess and evaluate recent innovations: Financial Measures Return on investment Growth in market share Profitability Non-financial Measures Employee loyalty and commitment Breadth of employee participation Employee retention Employee willingness to change Strategic repositioning Competitive capabilities Potential creation of further breakthroughs Number of potential future innovations

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