Entrepreneurship in the Private and Social Sectors ?· ENTREPRENEURSHIP IN THE PRIVATE AND SOCIAL SECTORS…

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  • ENTREPRENEURSHIP IN THE PRIVATE AND SOCIAL SECTORS

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    Joint HKS HBS Course

    Entrepreneurship in the Private and Social Sectors

    EPSS 1622 (HBS)

    MLD-830B (HKS)

    Time: Mondays 4:15pm- 5:30pm, Innovation Lab Classroom (122 Batten Hall HBS)

    Tuesdays: 4:15-5:30, Littauer 280 (HKS)

    HKS Shopping Day: January 20, 2012, 4:10-5:25, Littauer 280

    HBS Shopping Day: January 23, 2012, 4:15-5:35, Innovation Lab Classroom

    Robert F. Higgins

    rhiggins@hbs.edu

    617-401-4512

    Richard E. Cavanagh

    Dick_Cavanagh@harvard.edu

    Phone: 617-495-0544

    Course Assistant:

    Michael Belinsky

    Michael_Belinsky@hks12.harvard.edu

    Phone: 678-296-7474

    Faculty Assistants

    HBS HKS

    Matthew OConnell Rosita Scarfo

    Rock Hall 111 Belfer 127B

    moconnell@hbs.edu rosita_scarfo@harvard.edu

    617-495-6477 617-496-1739

    January 19, 2011

    mailto:%20rhiggins@hbs.edumailto:Dick_Cavanagh@harvard.edumailto:Michael_Belinsky@hks12.harvard.edumailto:moconnell@hbs.edumailto:rosita_scarfo@harvard.edu

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    Course Description and Requirements

    MLD-830 B/EPSS 1622 is a joint HBS/HKS course that explores the theory and practice of

    entrepreneurial management in the private and social sectors. The course seeks to prepare students

    for future work with and leadership in entrepreneurial ventures and to provide an informed perspective to those who may someday promote or regulate such ventures.

    At the heart of the course are twenty discussion sessions -- each informed by cases and readings.

    Each student will also prepare and submit an individual 10-15 page term paper on a past, present or

    prospective entrepreneurial venture - - applying the course insights to either a case study or a

    proposal/business plan for a new venture. Grades will be based on the quality of class participation, and on the individual term paper.

    Recommended Texts:

    Four books will figure prominently in the course, two of which will be included in the course packet

    that will be distributed by HBS.

    Peter F. Drucker, Innovation and Entrepreneurship (Harper & Row Publishers, 1985)

    David Bornstein, How to Change the World: Social Entrepreneurs and the Power of New Ideas

    (Oxford University Press, 2004)

    In addition, the instructors will provide two other volumes:

    Donald Clifford and Richard E. Cavanagh The Winning Performance: How Americas Midsize

    Companies Succeed (New York: Bantam Books, 4th edition, 1985)

    To be provided gratis by the instructor

    Not in course packet

    AshokaInnovators for the Public, Leading Social Entrepreneurs (Arlington, VA, 2008)

    Provided gratis by instructor

    Not in course packet

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    Class Calendar

    Sun Mon Tues Wed Thurs Fri Sat

    JANUARY JAN 1 2

    3 4 5 6 7

    8 9

    10 11 12 13 14

    15 16

    17 18 19

    20

    HKS

    Shopping

    Day

    21

    22 23

    HBS

    Shopping

    Day

    24

    NO CLASS

    25

    26 27

    28

    FEBRUARY 29 30

    Intro.

    31

    Zipcar

    FEB 1 2 3 4

    5 6

    Starbucks

    7

    Extend

    Fertility

    8 9 10 11

    12 13

    Aravind

    14

    Narayana

    15 16 17

    18

    19 20

    PRES.

    DAY

    21

    Odyssey

    22 23 24 25

    MARCH 26 27

    Infosys

    28

    Grameen

    29 MAR 1 2 3

    4 5

    SKS

    6

    Compartamos

    7 8 9 10

    11

    BREAK

    12

    BREAK

    13

    BREAK

    14

    BREAK

    15

    BREAK

    16

    BREAK

    17

    BREAK

    18

    19

    NO

    CLASS

    20

    NO CLASS

    21 22 23 24

    25 26

    Third

    Rock

    27

    Ashoka

    28 29 30 31

  • ENTREPRENEURSHIP IN THE PRIVATE AND SOCIAL SECTORS

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    APRIL APR 1 2

    Echoing

    Green

    3

    New Profit

    4 5 6 7

    8 9

    Acumen

    10

    Omidyar

    11 12 13 14

    15 16

    NO

    CLASS

    17

    Vertex

    18 19 20 21

    22 23

    Summary

    24

    NO CLASS

    25 26 27 28

    29 30

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    Schedule

    Friday, Jan. 20 HKS Shopping Day

    Monday, Jan. 23 HBS Shopping Day

    Tuesday, Jan. 24 - No Class

    INTRODUCTION

    Monday, Jan. 30

    Assignment

    Global Heroes: A Special Report on Entrepreneurship, The Economist, March 14, 2009, pp. 1-20.

    Stevenson, Howard H., "A Perspective on Entrepreneurship," Apr. 13, 2006, HBS Case no. 9-384-131.

    Coster, Helen, Wolan, Christian Impact 30 Top Social Entrepreneurs, Forbes,

    December 19, 2011, pp. 78-84

    Drucker, Peter F., Innovation and Entrepreneurship: Practices and Principles, Harper & Row Publishers: New York, 1985.Introduction and Chapter 1.

    Schumpeter, Joseph A., The Theory of Economic Development, Harvard University Press: Cambridge, 1961. Pp.74-94

    Questions

    1. TBD

    GETTING STARTED (1)

    Tuesday, Jan. 31

    Guest: Peter Aldrich (invited)

    Assignment

    ZipcarThe best new idea in business (September 24, 2009) Fortune, cover and Pp 42-52.

    Hammermesh, Richard G., Paul W. Marshall and Taz Pirmohamed, "Note on Business Model Analysis for the Entrepreneur," Jan. 22,2002, HBS Case no. 9-802-048. CASE:

    Hart, Myra, Michael J. Roberts and Julia D. Stevens, "Zipcar: Refining the Business Model," Oct. 1, 2001. HBS Case no. 9-803-906.

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    Questions

    1. What is the purposeful innovation of Zipcar?

    2. What are the pros and cons of a for-profit and non-profit model for an organization like Zipcar?

    3. Why do you believe the founder left?

    GETTING STARTED (2)

    Monday, Feb. 6

    Assignment

    Starbucks: Howard Schultz vs. Howard Schultz (August 6,2009) Business Week. Pp. 28-33.

    Miller, Claire Cain, "Now at Starbucks: A Rebound, The New York Times, January 20,2010

    Koehn, Nancy F., "Howard Schultz and Starbucks Coffee Company," Sept. 30, 2005. HBS Case no. 9-801-361.

    Questions

    1. How are Starbucks' strategy and management innovative?

    2. How did Howard Schultz want to "change the world"?

    3. Why did they get in trouble?

    GETTING STARTED (3)

    Tuesday, Feb. 7

    Assignment

    Sahlman, William, "How to Write a Great Business Plan," July 1, 1997. Harvard Business Review, #97409.

    Walton, Ennis J. and Michael J. Roberts, "The Business Plan," Oct. 21, 1998. HBS Case no. 9-389-020.

    Stevenson, Howard H. and Michael J. Roberts, "New Venture Financing," Aug. 1, 2006. HBS Note no. 9-802-131.

    Hart, Myra and Sylvia Sensiper, "Extended Fertility," July 21, 2005. HBS Case no. N9-805-065.

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    Questions

    1. What are the elements of innovation in the Extend Fertility business concept?

    2. Do you think Christy Jones will succeed? Why or why not?

    3. If you were Christy, what would be the most attractive source of financing for this venture (bootstrapping; friends and family; angels; venture capitalists, corporate

    partners)?

    GOING TO SCALE (1)

    Monday, Feb. 13

    Assignment

    Drucker, Peter F., Innovation and Entrepreneur ship, Chapters 2-10.

    Rangan, Kasturi, "The Aravind Eye Hospital, Madurai, India: In Service for Sight," Jan. 10,2007, HBS Case no. 9-593-098.

    Questions

    1. What is innovative about this hospital?

    2. How do Peter Drucker's insights apply to this case?

    GOING TO SCALE (2)

    Tuesday, Feb. 14

    Assignment

    Drucker, Peter F., Innovation and Entrepreneur ship, Chapters 11,13,14.

    Khanna, T. and Rangan, Kasturi, "Narayana Hrudayalaya Heart Hospital: Cardiac Care for the Poor," April 25, 2006, HBS Case no. 9-505-078.

    Questions

    1. What is innovative about each of these hospitals?

    2. How do Peter Drucker's insights apply to these two hospital cases, and to the earlier Starbucks, Zipcar and Extend Fertility cases?

    Monday, Feb. 20 Presidents Day

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    DRIVING THE BUSINESS MODEL (1)

    Tuesday, Feb. 21

    Assignment

    Higgins, Robert F., Fuller Virginia A., Odyssey Healthcare, HBS case no. 9-809-052, January 29, 2010

    Clifford & Cavanagh, The Winning Performance, Chapter 1, 2, and 8.

    Questions

    1. What are the advantages and disadvantages for Odyssey of being a public company, a private company or a non-profit?

    2. Is the evolution of hospice care in America typical of the way new service industries develop?

    DRIVING THE BUSINESS MODEL (2)

    Monday, Feb. 27

    Assignment

    Reich, Robert B., "Entrepreneurship Reconsidered: The Team as Hero," HBS Case no. 87309, Harvard Business Review. May/June 1987.

    Hamermesh, Richard G., Heskett, James L., Roberts, Michael J., "A Note on Managing the Growing Venture," April 23, 2005, HBS Case No. 9-805-092.

    Kuemmerle, Walter, "Infosys: Financing an Indian Software Start-Up," April 8, 2004, HBS Case No. 9-800-103.

    Questions

    1. What innovative evidence is there in the Infosys case?

    2. How are the founders/leaders of Infosys different from other entrepreneurs we've studied? Does their leadership style have any relevance outside of this specific setting

    (e.g., in your experience can you think of anywhere else this would apply)?

    3. Infosys is the first case in which we see the company's progression from start to finish; what insights from Chapter 4 (from The Winning Performance) apply to Infosys?

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    MICROFINANCE (1)

    Tuesday, Feb. 28

    Assignment

    Dees, J. Gregory, "The Meaning of "Social Entrepreneurship," Pp. 1-5

    Kennedy School of Government Case Program, "Muhammad Yunus and the Grameen Bank," KSG Case no. 1830.0

    Questions

    1. How was/is the Grameen Bank innovativeas a business and as a social institution?

    2. What do you think led Yunus to change his banks corporate status from government agency to for-profit to mutual non-profit? Does it matter if microlenders are non-profit or

    for-profit?

    3. Many world class entrepreneurs have run-ins with governments. (Gates with the US antitrust agencies; Larry Ellison of Oracle with the SEC and the EU; the aluminum and

    oil oligarchs in Russia; Yunus with his central bank.) Why do you suspect this happens?

    MICROFINACE (2)

    Monday, March 5

    Guest: Michael Chu (invited)

    Assignment

    World Microfinance Forum Geneva, (October 2008), "Is it fair to do business with the poor?" Pp. 1-12.

    Chen, Theresa, SKS Microfinance Case, HBS case 9-208-137, May 07, 2008.

    Bajaj, Vikram, Amid Scandal, Chairman of Troubled Lender to Quit, New York Times, Nov. 24, 2011, pB-3

    Questions

    1. TBD

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    MICROFINACE (3)

    Tuesday, March 6

    Assignment

    Chu, Michael, Garcia Cuellar, Regina, Banco Compartamos, HBS case 9-308-094, Jan. 28, 2008

    Questions

    1. TBD

    Monday, March 12 No Class Spring Break

    Tuesday, March 13 No Class Spring Break

    Monday, March 19 No Class Individual Final Paper Topic Research

    Tuesday, March 20 No Class Individual Final Paper Topic Research

    GETTING HELP AND FUNDING (1)

    Monday, March 26

    Higgins, Robert, Kindred, Natalie, Third Rock Ventures, Sept. 27, 2019, HBS Case N1-

    811-002

    HBS Venture Capital Note

    GETTING HELP AND FUNDING (2)

    Tuesday, March 27

    Assignment

    Drayton, Bill, "Everyone A Changemaker: Social Entrepreneurship's Ultimate Goal" MIT Press with Harvard University and George Mason University, Pp.l-27.

    Bornstein, David, How to Change the World, Chapters 2, 5, 6, 10, 12, 14, 15, and 20.

    Ashoka Innovators for the Public, Leading Social Entrepreneurs, Ashoka 2009. (To be distributed)

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    Questions

    1. How is Ashoka innovative?

    2. Compare and contrast what you learned about Ashoka with what you know or learned earlier in the course about venture capital firms.

    3. What were Bill Drayton's personal characteristics and interests, and how did it affect the organization, both positively and negatively?

    4. When organizations scale as Ashoka did (from $50,000 to over $30 million in budget in Ashoka's case), what do you believe are the benefits and challenges of such growth?

    GETTING HELP AND FUNDING (3)

    Monday, April 2

    Guest: Cheryl Dorsey (invited)

    Assignment

    Dorsey, Cheryl, Toward a Theory of SEQ (Social Entrepreneurship Quotient), Echoing Green, October 2009.

    Echoing Green Annual Report (2010) (To be distributed)

    Battilana, Julie, Delong, Thomas, and Weber, James, "Echoing Green," HBS Case no. 9-410-013, December 7, 2009.

    Questions

    1. In what ways were Ashoka and Echoing Green similar, in what ways were they different? How do you think this affects their fundraising?

    2. Ten years from now, which organization do you believe will be more successful, and why?

    GETTING HELP AND FUNDING (4)

    Tuesday, April 3

    Guest: Vanessa Kirsch (invited)

    Assignment

    Kaplan, Robert S., New Profit, Inc.: Governing the Nonprofit Enterprise, HBS case 9-100-052, November, 30, 1999

    Questions

    1. TBD

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    GETTING HELP AND FUNDING (5)

    Monday, April 9

    Assignment

    Denend, Bill, Meehan, Bill, Acumen Fund and Embrace: From the Leading Edge of Social Venture Investing, HBS case 9-100-052, July 3, 2001

    Costa, Helen, Can Venture Capital Save The World? Forbes December 29, 2011. Pp. 66-75

    Questions

    1. TBD

    GETTING HELP AND FUNDING (6)

    Tuesday, April 10

    Assignment

    Chu, Michael, Hazell, Jean Steege, Omidyar-Tufts Microfinance Fund: Striving to Reshape the Social Enterprise Capital, HBS case 9-307-078, October 30, 2007

    Questions

    1. TBD

    Monday, April 16 No Class

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    CROSS SECTOR JOINT VENTURES (1)

    Tuesday, April 17

    Guest: Joshua Boger (invited)

    Assignment

    Groopman, Jerome, "Open Channels: Do new Cystic-Fibrosis therapies hold the key to treating other genetic disorders?" The New Yorker. May 4,2009, Pp. 30-34.

    Stephanie Strom, To Advance Their Cause, Foundations Buy Stocks, The New York Times, Nov. 24, 2011.

    Higgins, Robert F., Sophie Lamontagne and Brent Kazan, "Vertex Pharmaceuticals and the Cystic Fibrosis Foundation," HBS Case no.9-808-005.

    Questions

    1. How is this joint venture (JV) innovative?

    2. Who is the real entrepreneur in the story?

    3. What strengths and skills do nonprofits and for-profits bring to JVs?

    Monday, April 23 Course summary

    Term papers due May 4, 2012

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