{"title":"Is the Business Plan Really Dead and Should it Be?: A Case for the Lean Start-Up Approach","authors":"Alex F. DeNoble, T. Zoller","doi":"10.1108/S1048-473620170000027004","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027004","url":null,"abstract":"Abstract \u0000The emergence of the lean start-up movement has cast doubt and skepticism among entrepreneurship educators and practitioners regarding the usefulness of writing a formal business plan for training the next generation of entrepreneurs. In one camp, there is a group of entrepreneurship education professionals who continue to advocate for the usefulness and necessity for teaching students these basic business plan development skills. In an alternative camp, there is another faction of education professionals who believe that the business plan process is counterproductive and is an unnecessary distraction for today’s millennial entrepreneurs seeking to create their own new ventures. In this chapter, we argue why it is important to adopt a lean start-up framework and approach in both entrepreneurship courses and in curriculum design in early-stage venturing. We offer 10 reasons why entrepreneurship educators should place less emphasis on business planning and more emphasis on business modeling during the early stages of evaluating the feasibility of a venture. We believe that educators and curriculum designers need to rethink the traditional approach of building an entrepreneurship program based upon the business plan as the guiding framework. We then conclude our discussion with suggestions on where and how elements of the business plan can and should be introduced into the new venture development process and appropriately positioned in entrepreneurship curricula. We propose a renewed and reconciled view of the Lean Start-up versus Business Plan debate, as both are considered necessary but neither is sufficient to support the full lifecycle of the venturing process.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"126 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129690472","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Should University Entrepreneurship Centers Be Controlled Centrally? Lessons Learned from Transitioning from a Business School to a Centralized Center","authors":"J. Hossenlopp","doi":"10.1108/S1048-473620170000027010","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027010","url":null,"abstract":"Abstract \u0000The location of entrepreneurship centers on university campuses has been the subject of debate as the traditional model of business school centers has been challenged by development of centralized structures. The purpose of this chapter is to explore some of the benefits and challenges when a center transitions from a college-based structure to one that is centrally controlled. This chapter provides a qualitative case study of the transition of an entrepreneurship center from a business college to a centralized model housed under a campus-wide office of research and innovation. It argues that a centralized entrepreneurship center can promote campus partnerships on programming, connect the center more effectively with other centralized resources, increase participation from students and faculty from a wider range of colleges, and provide a platform for cross-college collaboration. A key challenge can be the potential separation from faculty research and curriculum development.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127415910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"B School, E School, or D School: Does Entrepreneurship Program Location Matter or is it the Ecosystem that Counts?","authors":"J. Hornsby","doi":"10.1108/S1048-473620170000027011","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027011","url":null,"abstract":"Abstract There has been an ongoing debate regarding where a university should house entrepreneurship programs. Should they be in the business school, at the central administration level, or housed in another college such as engineering? Many argue that the entrepreneurship programs should be housed where the best ideas come from (i.e., engineering, computer science, or biosciences). Others strongly argue on traditional lines that entrepreneurship involves essential business tools so the programs need to be housed there. This chapter asserts that the debate over location is moot in regards to how to more effectively launch start-ups and create entrepreneurial talent. For a university to be effective, it needs to build an ecosystem that integrates programs, people, and ideas from across the campus and avoid the traditional silos that schools and colleges create. A model for this from the University of Missouri-Kansas City is used to illustrate an effective university entrepreneurial ecosystem.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131008175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Valuing a Bachelor Degree in Entrepreneurship – The LMU Experience","authors":"D. Choi, J. D’Mello, Darlene Fukuji","doi":"10.1108/S1048-473620170000027009","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027009","url":null,"abstract":"Abstract \u0000We discuss the value of a Bachelor’s Degree in Entrepreneurship. We do this in part by responding to some of the most common criticisms for the perceived shortcoming of the degree. Some of the issues addressed include the benefit of a major over a minor; the advantage of experience versus education; and the degree’s effectiveness in preparing students for an entrepreneurial career. We base most of the responses on our experiences at Loyola Marymount University. We conclude by pointing out that the Entrepreneurship degree can serve as a powerful foundation for the right type of students.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130803966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Entrepreneurial Ecosystems: Weak Metaphor or Genuine Concept?☆","authors":"Xaver Neumeyer, Andrew C. Corbett","doi":"10.1108/S1048-473620170000027005","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027005","url":null,"abstract":"Abstract Entrepreneurship ecosystems have become ubiquitous in the discussions around economic growth and new venture creation. Despite growing scholarly interest, however, the theoretical and conceptual foundations are still rudimentary, causing much debate among researchers and practitioners. At the center of these debates are questions like What are the boundaries of ecosystems? Are ecosystems build from the top-down or from the bottom-up? Or How can we measure the success of ecosystems? In this chapter, we summarize these discussions, present an overview of the existing research, and give an outlook on future directions.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127233291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Keeping It Real: The Benefits of Experiential Teaching Methods in Meeting the Objectives of Entrepreneurship Education","authors":"Jaime L. Williams, R. Gentry","doi":"10.1108/S1048-473620170000027003","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027003","url":null,"abstract":"Abstract Entrepreneurship education exists to give provide students the tools and perspective necessary to make an informed decision about when starting a business is right for them. It is holistic, giving students a sense for the entire process as well as what it means to be an entrepreneur. It is occasionally technical; it is undoubtedly exciting and complex. Why then does so much of academe employ rote-lecturing techniques to provide this training? Entrepreneurship is a process and a behavior set – not a person-specific attribute. Until students are allowed out of their seats to engage in behaviors other than note taking, they will not understand how to act entrepreneurially. This chapter explores this inconsistency, why traditional approaches are so problematic and modern experiential approaches that can help.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"27 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130349094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gazelle Solution vs. Portfolio Thinking","authors":"D. Kuratko, Elise N. Hudson","doi":"10.1108/S1048-473620170000027007","DOIUrl":"https://doi.org/10.1108/S1048-473620170000027007","url":null,"abstract":"Abstract \u0000It is clear that entrepreneurship has a major impact on the economy because of the innovation, competition, productivity, wealth generation, and job creation all developed through new ventures. However, researchers have been divided on what specific type of entrepreneurial venture is best for economic growth and job creation. This chapter examines the debate between researchers on whether or not a “gazelle” approach, focusing only on high growth ventures, or a “portfolio” approach, taking in account all the various types of ventures, is better for economic growth and job creation. The gazelle approach’s solution is for the government to only invest in those firms that are high growth. In contrast, the portfolio approach’s solution is to encourage all forms of entrepreneurship because the ventures are interdependent on each other in the entrepreneurial ecosystem and each venture no matter the size is serving some purpose to the economy. This chapter highlights the two sides of the issue but also argues that in order for a true entrepreneurial economy to exist then all various type of ventures need to be encouraged in order for competition to be greatest and for society to reap the highest benefits.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128799672","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Benefits and Liabilities of Multidisciplinary Commercialization Teams: How Professional Composition and Social Networks Influence Team Processes","authors":"J. Perry-Smith, L. Vincent","doi":"10.1108/S1048-473620160000026003","DOIUrl":"https://doi.org/10.1108/S1048-473620160000026003","url":null,"abstract":"In this chapter, we focus on the people component of the technology commercialization process. We review how the need for a variety of skills and knowledge sets creates unique challenges and opportunities for the team, particularly given the complexities associated with commercialization and the need for creativity throughout the process. We suggest that simply having a multidisciplinary team in place does not ensure success and highlight the potential benefits and liabilities. In particular, we highlight the relevancy of team composition in terms of professional orientation and social network ties. We then review how team composition influences internal team processes.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"292 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132379262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Commercialization Strategies: Cooperation versus Competition","authors":"B. Stenard, Marie C. Thursby, Anne W. Fuller","doi":"10.1108/S1048-473620160000026010","DOIUrl":"https://doi.org/10.1108/S1048-473620160000026010","url":null,"abstract":"Abstract \u0000This chapter presents a framework for evaluating commercialization strategies available to start-up innovators operating in high-technology industries. We consider strategies ranging from head-on competition with incumbent firms to cooperation. Cooperation can manifest in a variety of alliances, including licensing, OEM relationships, R&D contracts, and joint ventures. We then relate the use of these strategies to alliance transaction costs, the need for complementary assets, and the firm’s intellectual property position. This chapter draws heavily on recent research showing that patterns of cooperation and competition vary markedly across industry sectors, with some form of cooperation with incumbents almost assuredly necessary in healthcare/medical technology. We emphasize the endogenous, dynamic nature of firm choices, and we illustrate the major principles with two case studies of start-up innovators commercializing university-based inventions. One company has developed several medical devices and the other electronics hardware and software. We follow the companies over a 10-year period, showing the evolution of strategy from cooperation to competition.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129004401","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Licensing Inventions from Entrepreneurial Universities: The Context of Bayh–Dole","authors":"Anne M. Rector, Marie C. Thursby","doi":"10.1108/S1048-473620160000026013","DOIUrl":"https://doi.org/10.1108/S1048-473620160000026013","url":null,"abstract":"Abstract \u0000Licensing from US universities is done within the overall legal framework of the Bayh–Dole Act of 1980 and the employment agreements of universities. This chapter explains common contracts used by universities to license technologies developed by their faculty and students within the context of these laws. In addition to the legal framework, the nature of license agreements is affected by the embryonic nature of most university inventions, which necessitates faculty and student involvement in development, and the entrepreneurial goals of the university. Universities have diverse goals in terms of revenue, licenses executed, inventions commercialized, patents filed, and number of startups formed. The somewhat obvious problem is that the goals of faculty, students, the university, and the licensee may not be aligned. Common contracts used are meant to align these goals. While some contracts include multiple terms such as upfront fees, running royalties, annual payments, and equity, Express Licenses are increasingly being used to accommodate the entrepreneurial environment. This chapter discusses these issues and also the importance of the rights to sublicense inventions.","PeriodicalId":108758,"journal":{"name":"Advances in The Study of Entrepreneurship, Innovation, & Economic Growth","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132423135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}