Developing an Entrepreneurial Mindset | 2020-2021

This Course helps the prospective entrepreneur gain a basic understanding of how to approach launching a business. The topics covered in this Course include entrepreneurial characteristics, how to find and test an idea to ensure it has market potential, and some important thoughts on how to use “lean” principles and how to develop a viable business model.

Faculty

Prof. Al Osborne

Prof. Al Osborne

Professor

Alfred E. Osborne, Jr. is senior associate dean of UCLA Anderson.  In this role, he oversees a variety of key areas and initiatives within the school, including development, alumni relations, marketing and communications, corporate initiatives, and executive education.

Dr. Osborne is also professor of Global Economics and Management and founder and faculty director of the Harold and Pauline Price Center for Entrepreneurial Studies.  The Price Center serves to organize faculty research, student activities and curricula related to the study of entrepreneurship and new business development at UCLA Anderson including the Management Development Entrepreneurs Program.  He has been at UCLA since 1972.

Course Learning Objectives:

  • Identify and evaluate a product or service idea as a potential valid business opportunity.
  • Analyze the economic realities of an industry so you can find a strategy for your business that gives you a strong competitive advantage.
  • Evaluate ten characteristics of your market so you can create a market profile for your business.
  • Transform a vague idea for a new business opportunity into the start of a true entrepreneurial venture.
  • Given an entrepreneurial idea, use the look-listen-think-act model to evaluate its potential.
  • Evaluate your personal characteristics to decide if entrepreneurship is a promising path for you.
  • Given an idea for a new business, evaluate the Total Addressable Market and the Potential Market to determine the realistic size of the opportunity.
  • Analyze the market to determine and describe the opportunity set in which a given idea resides.
  • Predict the window of opportunity for a given idea and defend your prediction, using a graph and text explanation.
  • Analyze the meaning of supply and demand projections shown graphically to make logical decisions at the one-year and two-year-from-launch time-frames.
  • Choose, from the five criteria for opportunity evaluation (market, with all that contains; economic harvest; competitive advantage; management team; and strategic differentiation), two for analysis in the context of a given business idea.
  • Create a complete market profile that includes all ten steps an entrepreneur should consider.
  • Explain how the principles of “lean startup” might apply to a new business.
  • Analyze the economic realities of an industry so you can find a strategy for your business that gives you a strong competitive advantage.
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Syllabus

Learning Objectives:
  • Transform a vague idea for a new business opportunity into the start of a true entrepreneurial venture.
  • Given an entrepreneurial idea, use the look-listen-think-act model to evaluate its potential.
  • Evaluate your personal characteristics to decide if entrepreneurship is a promising path for you.
Module Components:

Video Lectures:

  • Introduction to Entrepreneurship
  • Key Characteristics of an Entrepreneur
  • Five Questions to Ask before becoming an Entrepreneur 

Readings:

  • Entrepreneurial Attributes
  • The 10 Myths of Entrepreneurship
  • Impact of Open Source on Business and Social Good

Case Study:

  • Wii Arcade

Quiz:

  • Understanding Entrepreneurship and Entrepreneurs
Learning Objectives:
  • Given an idea for a new business, evaluate the Total Addressable Market and the Potential Market to determine the realistic size of the opportunity.
  • Analyze the market to determine and describe the opportunity set in which a given idea resides.
  • Predict the window of opportunity for a given idea and defend your prediction, using a graph and text explanation.
Module Components:

Video Lectures:

  • Spotting the Opportunity
  • Understanding Opportunity Sets
  • Identifying the Window of Opportunity

Readings:

  • The Three Pieces of Entrepreneurship
  • Opportunity Recognition as Pattern Recognition

Case Study:  

  • Wii Arcade (Continued- Part 1)
Learning Objectives: 
  • Analyze the meaning of supply and demand projections shown graphically to make logical decisions at the one-year and two-year-from-launch timeframes.
  • Choose, from the five criteria for opportunity evaluation (market, with all that contains; economic harvest; competitive advantage; management team; and strategic differentiation), two for analysis in the context of a given business idea.
  • Create a complete market profile that includes all ten steps an entrepreneur should consider.
Module Components:

Video Lectures:

  • Understanding Single Market Equilibrium
  • Developing Criteria for Opportunity Evaluation
  • Developing a Market Profile of the Opportunity

Readings:

  • Business Idea & Opportunity Evaluation
  • Six Proven Methods to Evaluate a Business Opportunity
  • Opportunity Discovery and Evaluation Process

Case Study:

  • Wii Arcade (Continued- Part 2)

Quiz:

  • Evaluating Opportunity for Pursuing Entrepreneurship
Learning Objectives:
  • Explain how the principles of “lean startup” might apply to a new business.
  • Analyze the economic realities of an industry so you can find a strategy for your business that gives you a strong competitive advantage.
Module Components:

Video Lectures:

  • Understanding the Lean Start-up Principles
  • Business Model Development with Lean Start-up

Readings:

  • Lean Start-ups – a live discussion with Eric Ries and Dave McClure
  • Why The Lean Start-Up Changes Everything
  • Understanding the Business Models Landscape
  • The Case for The Fat Start-Up

Case-Study:

  • Wii Arcade (Continued- Part 3)

Quiz:

  • The Lean Start Up Framework for Entrepreneurs

Support

Please email support@northwest.academy for any support required with respect to the program, course or platform.