To accomplish these objectives, the entrepreneur should develop an attractive business plan. In addition, a business plan is a valuable managerial tool, helping the entrepreneur focus on developing a course for the business in the future. In fact, the primary purpose of building a business plan is to improve managerial control over the company and to avoid the pitfalls commonly leading to business failure.
Economics, Marketing and Strategy Primer for Entrepreneurs 4 credits This course is designed to present fundamental concepts of microeconomics, marketing and strategy, which will form the foundation for understanding the economic marketplace and to provide the basis for assessing entrepreneurial opportunities.
The course will begin with a study of consumer and firm behavior and the resulting demand and supply conditions in individual markets. Factors which affect market structure, prices, output levels, firm profitability and consumer welfare will be addressed in this context.
A critical question facing entrepreneurs and others developing new products or services is determining whether the market potential for a product justifies the investment. Building on the economic model, the course will explore marketing issues, in particular the value proposition for new products.
The course concludes with an examination of strategies for both the development and marketing of new products and services. Topics include strategies for market entry stand alone, joint venture, licensingdistribution policies, pricing policies and product positioning. Accounting and Finance Primer for Entrepreneurs 4 credits This course is designed to present the fundamentals of financial accounting and financial analysis that will serve as a foundation for concepts developed throughout subsequent courses in the entrepreneurship program.
The objectives of this course are to enable participants to understand and productively use the principles of finance and accounting information to better structure business decisions.
Specific topics of discussion will include transaction analysis, cash vs. The financial module will present skills required to understand how companies make investment and financing decisions.
Specific topics of discussion will include calculation of net present values, an introduction to financial instruments, the tradeoff between risk and return in financial markets, capital budgeting and investment decision-making, choosing an optimal capital structure, and using the weighted average cost of capital.
General Management of New Ventures 4 credits This course provides an opportunity to examine the management practices associated with technical innovation and new business development. The analysis of entrepreneurship is evaluated primarily from the perspective of a start-up venture that requires equity capital investment.
Management issues discussed include organizational development, analysis of market opportunities, market engagement, financial planning and control, capitalization, sources of funds, the due-diligence process, and valuing the venture. Teams of three to four students will collaborate in the preparation of a business plan.
The course will include time for students to share business ideas and identify possible team members. Each team will have a coach who is an experienced businessperson.
The coach will be available to provide feedback to the team. Screening Technical Opportunities 1 credit This course provides a process used to quickly assess the commercial merits of raw technologies. This course focuses on the very earliest stage of concepts where information is greatly lacking and the time and money to research such answers is also limited.
Students, in group format, will parse through approximately technologies that are available for licensing. These are provisional, pending, and issued patents based upon research conducted at the University of Rochester and held by the Office of Technology Transfer. Thickening will involve a cursory evaluation based upon technical merit, early market indicators, human resource availability, and business challenges.
Teams will use a template to present the results of their investigation to a panel. Teams must state whether or not each technology is worthy to bring forward into TEM Product Development and Technical Management.
Product Development and Technical Management 4 credits In this class, students will explore system engineering via the ISO product development process and will illustrate how to use this process to develop both products and research systems that meet necessary specifications.
The first eight weeks emphasize system integration including the development of the product development plans, partitioning of a system into subsystems, quantitative analysis of system performance and the role of prototypes.
The second half of the semester emphasizes the planning needed to take systems to manufacture. During the course students will prepare a product development plan on a project that was selected during TEM The course is intended to be interactive.
Entrepreneurship Electives Entrepreneurship Courses Students who wish to bolster their business background can choose an entrepreneurship elective. Students choosing to pursue this option will take a graduate level business course offered by the Simon Business School.
This is a unique opportunity for students to further immerse themselves in business curriculum all while taking courses with Simon School graduate students.
Professor Ronald Goettler will advise TEAM students on course selection and students will register for a course tailored to their business interests. Technical Courses Technical electives enable students to customize their technical coursework to satisfy their academic preferences.
Elective offerings are designed to provide variety, flexibility, and breadth of knowledge. Though not required by the TEAM program, students are encouraged to choose a technical concentration outside of their undergraduate major.Inventory turnover.
Jobber Labor. Laggards. LBO. Leveraged buy-out Rich-Gumpert Evaluation System The best reason for business planning is because you want to manage your business with more strategy, focus, prioritization, and effectiveness.
You want to plan to control your business destiny.
A formal business plan is an important document for any business. Entrepreneurs just starting out may find putting their thoughts, goals and in some cases dreams to paper an intimidating process.
Nevertheless, it is vital to the success of your. OTC Link® ATS provided by OTC Link LLC, member FINRA / SIPC, a wholly owned subsidiary of OTC Markets Group Inc. OTCQX, OTCQB, and Pink markets designated by OTC Markets Group.
S & I Joint Venture jobs available on timberdesignmag.com Apply to Customer Service Representative, Enter your zip code in the "where" box to show results in your area. Was formed as a contractual joint venture of highly qualified small businesses to win the Alliant Small Business GWAC.
Easily apply. Business Development Preliminary screening of projects based on risk assessment and profitability projections. Structuring financial assistance to ventures by way of Lending and subscription to timberdesignmag.comry: Banking.
Screening of New Venture Opportunities JS Youngleson (adapted from Timmons – New venture creation) 1. Screening of Venture Opportunities Time is the most valuable asset of any entrepreneur (it is also the most scarce resource).