School update for January ...
Dec. 18th, 2006 10:43 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
sinjunFor those of you who are bored or curious, one of my courses starts Jan. 11 and ends April 5. No text book to be bought for this one, though I will need to buy a book or two, I can tell. Still don't have details on the other course, and this one is going to be a /LOT/ of work. However, no final exam is a wonderful thing!
SB/ENTR6645.030X: CORPORATE ENTREPRENEURSHIP
Winter 2007
Term: W2
Exam: D4
Schulich School of Business
York University
ENTR 6645
Corporate Entrepreneurship
Winter 2006
Syllabus and Class Schedule
Overview:
The course focuses on entrepreneurial activities in large, established corporations. To survive and to enable continued growth in today’s fast changing environment, large corporations need to continually renew themselves through new products and new businesses. In some instances this involves dealing with advanced technology. The course will introduce students to the best practices and theory on fostering innovation through the process of identifying new ideas and converting them to commercial products and new businesses. We will discuss strategies, organizational structures and implementation challenges of new ventures within an established corporation as well as options to leverage external partners outside of the boundaries of the corporation within the process of developing new businesses.
Importantly we will spend a class looking specifically at the music business and how that serves as a paradigm for innovation. The music business is an industry where new products represent as much as 80% of sales in a fiscal year.
Additionally we will have an innovation lab in the final session, where we will develop a concept for a new product and run it through a live focus group with a trained moderator in class in order to refine it. This will introduce students to the process many organizations undertake to launch consumer products in grocery and drug stores.
This course will help you understand what factors contribute to successful renewal and continued growth of established corporations. It has an applied focus and will emphasize relating the issues discussed in the readings to real world cases.
Prerequisites:
Students should possess appropriate marketing, accounting, and finance knowledge. At this point in your business studies it is assumed that you have advanced knowledge in these areas. Having successfully completed ENTR 6605–Entrepreneurship and Small Business or ENTR6625–Managing Venture Growth and Transition would also be an asset but is not a prerequisite.
Methodology:
The course will accomplish the learning objectives through a diverse mix of teaching methods including:
· Analysis and discussion of actual case studies
· Lectures and presentations
· Group work
· Guest speaker presentations and discussion
· Related readings
Course Materials:
Required: Course Kit
Assignments and Grading
Individual Assignment (40%)
• Apply the concepts we discuss in class to a specific company of your choice
– Established company, no start-ups
– At least 100 employees or revenues >10 m
• Desktop study or primary research
– Primary research and Canadian companies receive a bonus of 1 grade (Ie: A- becomes A). Please remember Form B completion and submission is a requirement
• Report of 15pages including appendices (12pt, double spaced); due in the last class
• Progress memo (max 2 pages, will NOT be graded) due for class 6 with optional meeting
• Final paper due last class, April 5, 2007
• Company cannot be related to MGMT 6100
Group project (40%) - Paper 20%, Presentation 20%,
· Every group (5 person groups please) is responsible for finding a book that can be applied to corporate venturing . The group will read the book, write a paper about how the book applies to corporate venturing and present their paper to the class.
· Books will be allocated on a first come first serve basis, which means no book can be done by more than 1 group
· Books must be chosen and approved by the class and by me in class 3. To do this, a spokesperson for each group will give a 5 minute presentation in class 3 selling us all on your group’s choice
· Final presentations will be made in class 8 and 10 (note, the presentation precedes submission of your paper by 1 week). They should be 20 minutes long with 10 minutes for questions
· Your presentation will be evaluated on:
§ the extent to which the book is applied to the subject of corporate venturing
§ the logic and clarity of your presentation
§ the quality of responses to questions and comments
§ the active participation of all group members
· The week after your group presents, you will hand in a report (8 pages including appendices 12pt, double spaced); about what your group learned from reading the book AND from the comments/questions made in the class presentation.
Class Participation – 20%
Your presence and contribution to in-class learning is vital. This means being on time, well prepared, contributing, listening and building on others’ ideas and being ready to disagree with others and to develop your own position. Participation is evaluated based on the quality and quantity of your contribution to discussions in class. If you are unable to attend a class, please let me know in advance. If you miss a class and do not want it to negatively impact on your grade, please submit your written case notes and analysis reflecting how you would have participated had you attended class. Any absence from class does not excuse you from assignment deadlines. Class participation will be evaluated on an individual basis.
Since this is such a large class, participation will be a challenge. Therefore at the student’s option, he or she can allocate 50% of his or her participation mark (10% of final grade) to finding an article about corporate venturing, writing a summary of it and presenting it in class. Summaries can be as short as one page, and should not be longer than two pages. You should summarize the content of the article briefly, state why you think the article is of some importance in the area of corporate venturing, and provide
your opinion with respect to whether or not you agree with what is being said.
If you choose to do the summary and presentation, I will need to know at the beginning of class 2. This will enable me to schedule summaries according to the workload in each class. The summary is worth 50% of your class participation mark (10% of your total mark with 5% awarded for the paper and 5% awarded for the presentation (presentation length max. 10 minutes)
Additional Comments:
· Be sure to keep an extra copy of all assignments that you hand in.
· It is your responsibility to clarify any ambiguities that you may find in course materials or syllabus.
· Assignments are due 7pm on the dates specified, without exception.
· Students presenting on a specific day are due in the cafeteria at 6:45 so we can coordinate the presentations.
Detailed Syllabus:
Jan 11 Class 1-Course introduction
Topic: What is corporate entrepreneurship, why is it important, what are its core challenges?
Description: During this class we will discuss the nature of entrepreneurship in large corporations. What role does entrepreneurship play in the processes of sustaining growth and in maintaining strategic renewal? What are differences between entrepreneurship in start-ups and in established corporations? Why is corporate entrepreneurship so challenging?
Readings: In Class Hand Out-David A. Garvin, What Every CEO Should Know About Creating New Businesses, Harvard Business Review ,2004
Admin: Individual introductions, detailed course outline discussion.
Jan 18 Class 2-Corporate contexts and entrepreneurial opportunities
Topic: What are the key challenges in corporate entrepreneurship?
Description This session will discuss the role of leadership, strategy, structures, processes, systems, culture, style, and shared values in promoting corporate entrepreneurship.
Case: Fortis Venturing (A)
· How would you characterize the development of corporate venturing at Fortis? Why the need to “hide” the function from the larger organization
· What do you perceive as the major obstacles of successful corporate venturing in the financial services industry?
· What do you see as key success factors for corporate venturing efforts?
· What is Fortis hoping to gain from the effort?
Readings: D. Kuratko, J. Hornsby, D. Naffziger, R. Montagno, Implement Entrepreneurial Thinking in Established Organizations, SAM Advanced Management Journal, Winter 1993.
J. Birkinshaw, The paradox of corporate entrepreneurship, Strategy + Business 2003
Readings: In Class Hand Out-David A. Garvin, & Lynne C Levesque, Meeting the Challenge of Corporate Entrepreneurship, Harvard Business Review ,2006
Admin: Confirmation of who is presenting article summaries
Jan 25 Class 3-Evaluating, screening, and selecting ventures
Topic: What criteria can be used to evaluate corporate venturing opportunities?
Description: In this class we will discuss theory and methods for investing in new ventures. We will discuss the staged investment approach that venture capitalists apply and compare it to corporate budgeting. We will also look at characteristics that make corporate venturing projects attractive or unattractive.
Case: Virgin Unwired
· Is the UK mobile market attractive?
· What should Virgin’s value proposition be? How can they differentiate themselves from their competitors?
· What recommendations would you make to Richard Branson?
Readings: R. McGrath and I. MacMillan, The Entrepreneurial Mindset: Chapter 7 – Selecting Your Competitive Terrain, HBSP, 2000.
MacMillan and R. McGrath, Crafting R&D Project Portfolios, Research Technology Management, Sep/Oct 2002.
Readings: In Class Hand Out-W. Chan Kim and Renee Mauborgne; Knowing a Winning Business Idea When You See One, Harvard Business Review , 2000
Admin: 5 minute presentations on group project book approvals
Article presentation schedule confirmed
Feb 1 Class 4-The Music Industry
Topic: What can we learn about corporate venturing from this industry?
Description: The music business is going through significant upheaval today, though consumer demand for music, both live and pre recorded has never been stronger. What’s wrong?
We will look at the economics of a pre recorded music release, a concert tour and distill how the business has gotten to where it is today. Of course this will all be done in the context of corporate venturing.
Guest Speaker: TBD, but will be either the manager of a major label recording artist, or a key person currently working at a major label, or both.
Readings: In Class Hand Out-Duncan J Watts and Steve Hasker, Marketing in an Unpredictable World, Harvard Business Review, 2006
: In Class Hand Out-Darrell Rigby and Chris Zook, Open Market Innovation, Harvard Business Review , 2002
Feb 8 Class 5-Managerial roles in corporate ventures
Topic: What are some of the challenges facing the corporate entrepreneurs?
Description: In this session we will discuss different managerial roles in developing corporate ventures and the challenges associated with these roles. Particular emphasis will be given to venture champions.
Case: 3M Optical systems: Managing corporate entrepreneurship (HBS#9-395-017)
· As Andy Wong, how would you handle the authorization for expenditure (AFE) for the relaunch of the privacy screen?
· As Paul Guehler, would you approve the AFE if Wong sent it up to you?
· How effective has Wong been as a front-line manager? How effective has Guehler been as 3M’s Division President?
· What is it about 3M that makes it perhaps the most consistently entrepreneurial large corporation in the world?
Readings: R. George and I MacMillan, Corporate Venturing: Venture Management Challenges, Journal of Business Strategy, Fall 1985
I. MacMillan and R. George, Corporate Venturing: Challenges for Senior Managers, Journal of Business Strategy, Winter 1985
MacMillan and R. McGrath, Nine Roles for Technology Managers, Research Technology Management, May/June 2004
Feb 15 Class 6-Creating radically new ventures
Topic: What are the differences in creating incremental versus discontinuous venture
Description: Corporate ventures are often meant to radically expand the business definition of the corporation. At the same time, radical innovation is highly difficult to implement. This session will discuss the challenges that creating radical innovations poses and best practices to address these challenges.
Case: Polaroid Digital Imaging (HBS# 9-798-013)
· How much emphasis should Polaroid place on digital vs. traditional imaging technology
· How should they restructure the organization to capitalize on this new technology
· Should Polaroid develop a digital camera for the mass market?
Readings: R. Stringer, How to Manage Radical Innovation, California Management Review, Summer 2000.
C. Christensen and M. Overdorf, Meeting the Challenge of Disruptive Change, Harvard Business Review March-April 2000.
Due: 2 page progress memo on major individual assignment (also request meeting with me in progress memo)
Feb 22 MBA Reading Week – No Class
Mar 1 Class 7-Creating value from failure
Topic: Creating value even when ventures fail
Description: Most corporate ventures fail to create significant businesses. This session analyzes reasons for failure and how they can be avoided. We will discuss strategies how corporate value can be created even from failing ventures.
Case: Hewlett-Packard: The flight of the Kitty Hawk, Harvard, (HBS# 9-697-060)
· What would you rate as the strength and weaknesses in the way Hewlett-Packard structured and supported the Kittyhawk development team?
· What do you think of the way the team set out to find a market for the Kittyhawk? What correct and what wrong turns did they make?
· What do you think are the root causes for the failure of the Kittyhawk? How could Hewlett-Packard have avoided them?
Readings: R. McGrath, Advantage from Adversity: Learning from Disappointment in Internal Corporate Ventures, Journal of Business Venturing, 1995
Mar 8 Class 8-Structures for internal corporate venturing
Topic: Internal ventures
Description: In this session will discuss the challenges of developing ventures within the boundaries of the corporation. How can new venture units be located within a corporation and how does this location affect the challenges and the potential for success of different types of new ventures?
Case: Lucent Technology Ventures (HBS case #9-300-085)
· From the point of view of the specific NVG enterprises and their founders, assess the benefits and also the problems or tensions associated with starting up within a giant company. Have these ventures encountered the typical dilemmas of newstreams versus mainstreams?
· What, if anything, can Socolof and the NVG do to increase the advantages and minimize the tensions to ensure speedier and easier development of ventures within Lucent?
· What should Socolof recommend to upper management about the next phase of the New Ventures Group? What has the NVG done well? What has it done poorly? In light of problems at Lucent, should the NVG continue in its present form, change its form, or disband?
Readings M. Tushman, and C. O’Reilly III, Ambidextrous Organizations, California Management Review, Summer 1996.
H. Chesbrough, Designing Corporate Ventures in the Shadow of Private Venture Capital, California Management Review, Spring 2000.
Presentations: Specific Groups TBD
Admin: Grading of presentations by class
Group member evaluations
Mar 15 Class 9-External corporate venturing I
Topic: Venturing through joint ventures
Description: In this session we will discuss how corporations can leverage external partners to create new ventures. We will discuss what alternatives corporations can use and will focus in on joint ventures as one alternative.
Case: Pandesic – The challenge of a new business venture (A) (HBS#399-129)
· What is your assessment of Pandesic’s strategy?
· What forces influenced the early development of the strategy?
· What should Harold Hughes do?
Readings Roberts, E. B., and C. A. Berry Entering new businesses: Selecting strategies for success, Sloan Management Review, 1985
D. Rigby and C. Zook, Open-Market Innovation, Harvard Business Review, October 2002.
Due Group papers from week 8 presenting groups
Mar 22 Class10-External corporate venturing II
Topic: Corporate venture capital
Description: In this session, we will discuss corporate venture capital investments as a corporate venturing mode. Strategic versus financial benefits will be discussed. Different investment strategies and their results will be analyzed.
Case: E-Scotia Acquisition Inc.
· What is the strategic logic of the e-Scotia investments?
· What are the main challenges of the way e-Scotia is structured and how it invests?
· What should Greg Milavsky do?
Readings H. Chesbrough, Making Sense of Corporate Venture Capital, Harvard Business review, 2002
Presentations: Specific Groups TBD
Admin: Grading of presentations by class
Group member evaluations
Mar 29 Class 11-External corporate venturing III
Topic: Spin-offs and acquisitions
Description: The session focuses on spin-offs and acquisitions as corporate renewal tools. We will discuss strategic benefits and challenges. Structures of successful acquisitions and spin-offs will be presented.
Case: Placeware: Issues in structuring a Xerox Technology Spin-out (HBS# 9-699-001)
· What is the strategic logic of spinning out Placeware?
· Xerox is trying to reach several conflicting objectives in the spinout. Can all of these be reached?
· How should the spin-out be structured?
Readings M. Lord; S. Mandel, J. Wager, Spinning out a star, Harvard Business Review, 2002
S. Chaudhuri and B. Tabrizi, Capturing the Real Value in High-Tech Acquisitions, Harvard Business Review, September-October 1999
Due Group papers from week 10 presenting groups:
April 5 Class 12-Innovation Lab
Description: The session focuses on developing new concept ideas via group work and then conducting a live focus group to demonstrate how new product concepts are developed in consumer packaged goods businesses.
Readings: In Class Hand Out-Tom Monahan, Intergalactic Thinking, The Do it Yourself Lobotomy, John Wiley & Sons Inc, New York, 2002
: In Class Hand Out-Rosabeth Moss Kanter, The Middle Manager as Innovator, Harvard Business Review , 2004
Due: Major Individual Assignment
Admin: Class Participation Self Evaluation
SB/ENTR6645.030X: CORPORATE ENTREPRENEURSHIP
Winter 2007
Term: W2
Exam: D4
Schulich School of Business
York University
ENTR 6645
Corporate Entrepreneurship
Winter 2006
Syllabus and Class Schedule
Overview:
The course focuses on entrepreneurial activities in large, established corporations. To survive and to enable continued growth in today’s fast changing environment, large corporations need to continually renew themselves through new products and new businesses. In some instances this involves dealing with advanced technology. The course will introduce students to the best practices and theory on fostering innovation through the process of identifying new ideas and converting them to commercial products and new businesses. We will discuss strategies, organizational structures and implementation challenges of new ventures within an established corporation as well as options to leverage external partners outside of the boundaries of the corporation within the process of developing new businesses.
Importantly we will spend a class looking specifically at the music business and how that serves as a paradigm for innovation. The music business is an industry where new products represent as much as 80% of sales in a fiscal year.
Additionally we will have an innovation lab in the final session, where we will develop a concept for a new product and run it through a live focus group with a trained moderator in class in order to refine it. This will introduce students to the process many organizations undertake to launch consumer products in grocery and drug stores.
This course will help you understand what factors contribute to successful renewal and continued growth of established corporations. It has an applied focus and will emphasize relating the issues discussed in the readings to real world cases.
Prerequisites:
Students should possess appropriate marketing, accounting, and finance knowledge. At this point in your business studies it is assumed that you have advanced knowledge in these areas. Having successfully completed ENTR 6605–Entrepreneurship and Small Business or ENTR6625–Managing Venture Growth and Transition would also be an asset but is not a prerequisite.
Methodology:
The course will accomplish the learning objectives through a diverse mix of teaching methods including:
· Analysis and discussion of actual case studies
· Lectures and presentations
· Group work
· Guest speaker presentations and discussion
· Related readings
Course Materials:
Required: Course Kit
Assignments and Grading
Individual Assignment (40%)
• Apply the concepts we discuss in class to a specific company of your choice
– Established company, no start-ups
– At least 100 employees or revenues >10 m
• Desktop study or primary research
– Primary research and Canadian companies receive a bonus of 1 grade (Ie: A- becomes A). Please remember Form B completion and submission is a requirement
• Report of 15pages including appendices (12pt, double spaced); due in the last class
• Progress memo (max 2 pages, will NOT be graded) due for class 6 with optional meeting
• Final paper due last class, April 5, 2007
• Company cannot be related to MGMT 6100
Group project (40%) - Paper 20%, Presentation 20%,
· Every group (5 person groups please) is responsible for finding a book that can be applied to corporate venturing . The group will read the book, write a paper about how the book applies to corporate venturing and present their paper to the class.
· Books will be allocated on a first come first serve basis, which means no book can be done by more than 1 group
· Books must be chosen and approved by the class and by me in class 3. To do this, a spokesperson for each group will give a 5 minute presentation in class 3 selling us all on your group’s choice
· Final presentations will be made in class 8 and 10 (note, the presentation precedes submission of your paper by 1 week). They should be 20 minutes long with 10 minutes for questions
· Your presentation will be evaluated on:
§ the extent to which the book is applied to the subject of corporate venturing
§ the logic and clarity of your presentation
§ the quality of responses to questions and comments
§ the active participation of all group members
· The week after your group presents, you will hand in a report (8 pages including appendices 12pt, double spaced); about what your group learned from reading the book AND from the comments/questions made in the class presentation.
Class Participation – 20%
Your presence and contribution to in-class learning is vital. This means being on time, well prepared, contributing, listening and building on others’ ideas and being ready to disagree with others and to develop your own position. Participation is evaluated based on the quality and quantity of your contribution to discussions in class. If you are unable to attend a class, please let me know in advance. If you miss a class and do not want it to negatively impact on your grade, please submit your written case notes and analysis reflecting how you would have participated had you attended class. Any absence from class does not excuse you from assignment deadlines. Class participation will be evaluated on an individual basis.
Since this is such a large class, participation will be a challenge. Therefore at the student’s option, he or she can allocate 50% of his or her participation mark (10% of final grade) to finding an article about corporate venturing, writing a summary of it and presenting it in class. Summaries can be as short as one page, and should not be longer than two pages. You should summarize the content of the article briefly, state why you think the article is of some importance in the area of corporate venturing, and provide
your opinion with respect to whether or not you agree with what is being said.
If you choose to do the summary and presentation, I will need to know at the beginning of class 2. This will enable me to schedule summaries according to the workload in each class. The summary is worth 50% of your class participation mark (10% of your total mark with 5% awarded for the paper and 5% awarded for the presentation (presentation length max. 10 minutes)
Additional Comments:
· Be sure to keep an extra copy of all assignments that you hand in.
· It is your responsibility to clarify any ambiguities that you may find in course materials or syllabus.
· Assignments are due 7pm on the dates specified, without exception.
· Students presenting on a specific day are due in the cafeteria at 6:45 so we can coordinate the presentations.
Detailed Syllabus:
Jan 11 Class 1-Course introduction
Topic: What is corporate entrepreneurship, why is it important, what are its core challenges?
Description: During this class we will discuss the nature of entrepreneurship in large corporations. What role does entrepreneurship play in the processes of sustaining growth and in maintaining strategic renewal? What are differences between entrepreneurship in start-ups and in established corporations? Why is corporate entrepreneurship so challenging?
Readings: In Class Hand Out-David A. Garvin, What Every CEO Should Know About Creating New Businesses, Harvard Business Review ,2004
Admin: Individual introductions, detailed course outline discussion.
Jan 18 Class 2-Corporate contexts and entrepreneurial opportunities
Topic: What are the key challenges in corporate entrepreneurship?
Description This session will discuss the role of leadership, strategy, structures, processes, systems, culture, style, and shared values in promoting corporate entrepreneurship.
Case: Fortis Venturing (A)
· How would you characterize the development of corporate venturing at Fortis? Why the need to “hide” the function from the larger organization
· What do you perceive as the major obstacles of successful corporate venturing in the financial services industry?
· What do you see as key success factors for corporate venturing efforts?
· What is Fortis hoping to gain from the effort?
Readings: D. Kuratko, J. Hornsby, D. Naffziger, R. Montagno, Implement Entrepreneurial Thinking in Established Organizations, SAM Advanced Management Journal, Winter 1993.
J. Birkinshaw, The paradox of corporate entrepreneurship, Strategy + Business 2003
Readings: In Class Hand Out-David A. Garvin, & Lynne C Levesque, Meeting the Challenge of Corporate Entrepreneurship, Harvard Business Review ,2006
Admin: Confirmation of who is presenting article summaries
Jan 25 Class 3-Evaluating, screening, and selecting ventures
Topic: What criteria can be used to evaluate corporate venturing opportunities?
Description: In this class we will discuss theory and methods for investing in new ventures. We will discuss the staged investment approach that venture capitalists apply and compare it to corporate budgeting. We will also look at characteristics that make corporate venturing projects attractive or unattractive.
Case: Virgin Unwired
· Is the UK mobile market attractive?
· What should Virgin’s value proposition be? How can they differentiate themselves from their competitors?
· What recommendations would you make to Richard Branson?
Readings: R. McGrath and I. MacMillan, The Entrepreneurial Mindset: Chapter 7 – Selecting Your Competitive Terrain, HBSP, 2000.
MacMillan and R. McGrath, Crafting R&D Project Portfolios, Research Technology Management, Sep/Oct 2002.
Readings: In Class Hand Out-W. Chan Kim and Renee Mauborgne; Knowing a Winning Business Idea When You See One, Harvard Business Review , 2000
Admin: 5 minute presentations on group project book approvals
Article presentation schedule confirmed
Feb 1 Class 4-The Music Industry
Topic: What can we learn about corporate venturing from this industry?
Description: The music business is going through significant upheaval today, though consumer demand for music, both live and pre recorded has never been stronger. What’s wrong?
We will look at the economics of a pre recorded music release, a concert tour and distill how the business has gotten to where it is today. Of course this will all be done in the context of corporate venturing.
Guest Speaker: TBD, but will be either the manager of a major label recording artist, or a key person currently working at a major label, or both.
Readings: In Class Hand Out-Duncan J Watts and Steve Hasker, Marketing in an Unpredictable World, Harvard Business Review, 2006
: In Class Hand Out-Darrell Rigby and Chris Zook, Open Market Innovation, Harvard Business Review , 2002
Feb 8 Class 5-Managerial roles in corporate ventures
Topic: What are some of the challenges facing the corporate entrepreneurs?
Description: In this session we will discuss different managerial roles in developing corporate ventures and the challenges associated with these roles. Particular emphasis will be given to venture champions.
Case: 3M Optical systems: Managing corporate entrepreneurship (HBS#9-395-017)
· As Andy Wong, how would you handle the authorization for expenditure (AFE) for the relaunch of the privacy screen?
· As Paul Guehler, would you approve the AFE if Wong sent it up to you?
· How effective has Wong been as a front-line manager? How effective has Guehler been as 3M’s Division President?
· What is it about 3M that makes it perhaps the most consistently entrepreneurial large corporation in the world?
Readings: R. George and I MacMillan, Corporate Venturing: Venture Management Challenges, Journal of Business Strategy, Fall 1985
I. MacMillan and R. George, Corporate Venturing: Challenges for Senior Managers, Journal of Business Strategy, Winter 1985
MacMillan and R. McGrath, Nine Roles for Technology Managers, Research Technology Management, May/June 2004
Feb 15 Class 6-Creating radically new ventures
Topic: What are the differences in creating incremental versus discontinuous venture
Description: Corporate ventures are often meant to radically expand the business definition of the corporation. At the same time, radical innovation is highly difficult to implement. This session will discuss the challenges that creating radical innovations poses and best practices to address these challenges.
Case: Polaroid Digital Imaging (HBS# 9-798-013)
· How much emphasis should Polaroid place on digital vs. traditional imaging technology
· How should they restructure the organization to capitalize on this new technology
· Should Polaroid develop a digital camera for the mass market?
Readings: R. Stringer, How to Manage Radical Innovation, California Management Review, Summer 2000.
C. Christensen and M. Overdorf, Meeting the Challenge of Disruptive Change, Harvard Business Review March-April 2000.
Due: 2 page progress memo on major individual assignment (also request meeting with me in progress memo)
Feb 22 MBA Reading Week – No Class
Mar 1 Class 7-Creating value from failure
Topic: Creating value even when ventures fail
Description: Most corporate ventures fail to create significant businesses. This session analyzes reasons for failure and how they can be avoided. We will discuss strategies how corporate value can be created even from failing ventures.
Case: Hewlett-Packard: The flight of the Kitty Hawk, Harvard, (HBS# 9-697-060)
· What would you rate as the strength and weaknesses in the way Hewlett-Packard structured and supported the Kittyhawk development team?
· What do you think of the way the team set out to find a market for the Kittyhawk? What correct and what wrong turns did they make?
· What do you think are the root causes for the failure of the Kittyhawk? How could Hewlett-Packard have avoided them?
Readings: R. McGrath, Advantage from Adversity: Learning from Disappointment in Internal Corporate Ventures, Journal of Business Venturing, 1995
Mar 8 Class 8-Structures for internal corporate venturing
Topic: Internal ventures
Description: In this session will discuss the challenges of developing ventures within the boundaries of the corporation. How can new venture units be located within a corporation and how does this location affect the challenges and the potential for success of different types of new ventures?
Case: Lucent Technology Ventures (HBS case #9-300-085)
· From the point of view of the specific NVG enterprises and their founders, assess the benefits and also the problems or tensions associated with starting up within a giant company. Have these ventures encountered the typical dilemmas of newstreams versus mainstreams?
· What, if anything, can Socolof and the NVG do to increase the advantages and minimize the tensions to ensure speedier and easier development of ventures within Lucent?
· What should Socolof recommend to upper management about the next phase of the New Ventures Group? What has the NVG done well? What has it done poorly? In light of problems at Lucent, should the NVG continue in its present form, change its form, or disband?
Readings M. Tushman, and C. O’Reilly III, Ambidextrous Organizations, California Management Review, Summer 1996.
H. Chesbrough, Designing Corporate Ventures in the Shadow of Private Venture Capital, California Management Review, Spring 2000.
Presentations: Specific Groups TBD
Admin: Grading of presentations by class
Group member evaluations
Mar 15 Class 9-External corporate venturing I
Topic: Venturing through joint ventures
Description: In this session we will discuss how corporations can leverage external partners to create new ventures. We will discuss what alternatives corporations can use and will focus in on joint ventures as one alternative.
Case: Pandesic – The challenge of a new business venture (A) (HBS#399-129)
· What is your assessment of Pandesic’s strategy?
· What forces influenced the early development of the strategy?
· What should Harold Hughes do?
Readings Roberts, E. B., and C. A. Berry Entering new businesses: Selecting strategies for success, Sloan Management Review, 1985
D. Rigby and C. Zook, Open-Market Innovation, Harvard Business Review, October 2002.
Due Group papers from week 8 presenting groups
Mar 22 Class10-External corporate venturing II
Topic: Corporate venture capital
Description: In this session, we will discuss corporate venture capital investments as a corporate venturing mode. Strategic versus financial benefits will be discussed. Different investment strategies and their results will be analyzed.
Case: E-Scotia Acquisition Inc.
· What is the strategic logic of the e-Scotia investments?
· What are the main challenges of the way e-Scotia is structured and how it invests?
· What should Greg Milavsky do?
Readings H. Chesbrough, Making Sense of Corporate Venture Capital, Harvard Business review, 2002
Presentations: Specific Groups TBD
Admin: Grading of presentations by class
Group member evaluations
Mar 29 Class 11-External corporate venturing III
Topic: Spin-offs and acquisitions
Description: The session focuses on spin-offs and acquisitions as corporate renewal tools. We will discuss strategic benefits and challenges. Structures of successful acquisitions and spin-offs will be presented.
Case: Placeware: Issues in structuring a Xerox Technology Spin-out (HBS# 9-699-001)
· What is the strategic logic of spinning out Placeware?
· Xerox is trying to reach several conflicting objectives in the spinout. Can all of these be reached?
· How should the spin-out be structured?
Readings M. Lord; S. Mandel, J. Wager, Spinning out a star, Harvard Business Review, 2002
S. Chaudhuri and B. Tabrizi, Capturing the Real Value in High-Tech Acquisitions, Harvard Business Review, September-October 1999
Due Group papers from week 10 presenting groups:
April 5 Class 12-Innovation Lab
Description: The session focuses on developing new concept ideas via group work and then conducting a live focus group to demonstrate how new product concepts are developed in consumer packaged goods businesses.
Readings: In Class Hand Out-Tom Monahan, Intergalactic Thinking, The Do it Yourself Lobotomy, John Wiley & Sons Inc, New York, 2002
: In Class Hand Out-Rosabeth Moss Kanter, The Middle Manager as Innovator, Harvard Business Review , 2004
Due: Major Individual Assignment
Admin: Class Participation Self Evaluation
