MGT 133

MGT 133 - Innova&on to Market (A) Del Foit...

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Unformatted text preview: Innova&on to Market (A) Del Foit September 22, 2011 dfoit@ucsd.edu Welcome to Innova-on to Market (A)! Fall Quarter 2011 For Classroom Use Only - Del Foit Today’s Agenda •  Overview of course  ­ Goals, ObjecAves, Format  ­ ExpectaAons – Yours & Mine •  InnovaAon & Entrepreneurship – Engine of Wealth & Job CreaAon For Classroom Use Only - Del Foit Pondering “Opportunity is missed by most people because it is dressed in overalls and looks like work."  ­ ­ Thomas Edison, inventor and businessman For Classroom Use Only - Del Foit Course Overview •  Team based project course – 1st of two course sequence •  IdenAfy & transform innova-on into valuable market opportuniAes •  Perceive needs/propose unique products or services in a business concept that could saAsfy those unmet needs •  Market segmentaAon & market research to idenAfy customers, suppliers & partners •  Fundamentals & Frameworks + PracAAoners experiences For Classroom Use Only - Del Foit Course Objec&ves •  Provide quanAtaAve & qualitaAve tools/frameworks to ascertain if a good idea is a good, real world and valuable market opportunity •  Evaluate and synthesize findings  ­ Product & Market Research  ­ Go/No Go decision to develop business concept into a business case •  Prepare execuAve summary for business case/plan and techniques for presentaAon For Classroom Use Only - Del Foit Course Format & Expecta&ons •  20 classes  ­ Tuesday & Thursday 11:00AM to 12:20PM  ­ Lecture, Case Study, Voice of Experience, Project Immersion Time •  InteracAve class •  Timeliness •  Use of TED •  Office Hours  ­ Monday 10:00AM to 12:00PM (or by appt) •  Teaching Assistant –  Joe Dobson –  Joe.Dobson@rady.ucsd.edu For Classroom Use Only - Del Foit Course Performance Evalua&on •  •  •  •  •  •  Class aeendance/parAcipaAon 60 pts Chapter Study QuesAons 45 pts Idea list 60 pts Team ExecuAve summary 105 pts Team Oral presentaAon 75 pts Rady School ParAcipant Pool 17 pts Total 362 pts •  AddiAonal consideraAon  ­ Team work & Self EvaluaAon For Classroom Use Only - Del Foit About me EducaAon: •  Rutgers University; BS  ­ Microbiology, •  Rider University; MBA  ­ Finance & MarkeAng Industry •  United States Army (’68 – ’70), Combat Veteran •  32 Years in Medical Device/Biotech Industry  ­ Johnson & Johnson  ­ Roche DiagnosAcs (formerly Boehringer Mannheim CorporaAon)  ­ Sequenom, Inc. •  “R&R”  ­ November 2002 •  Founded StructureSpec Biosciences  ­ July 2003 Academia •  Rady School of Management – September 2005 Board Memberships •  California Med Tech •  Aubrey, Inc. •  Avitacor LLC •  Let’s Go RoboAcs, Inc. •  Reuben H. Fleet Science Center For Classroom Use Only - Del Foit Learning Process Tell me – I’ll know it Show me – I’ll learn it Involve me – I’ll understand it For Classroom Use Only - Del Foit Pondering “No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself, but for others ... or failing therein, it ceases to be profitable and ceases to exist."  ­ ­Calvin Coolidge, Thir&eth president of the U.S. For Classroom Use Only - Del Foit At the Heart of the Entrepreneurial Process is the: •  Founder –  The Opportunity Seeker –  The Creator and IniAator –  The Leader –  The Problem Solver –  The MoAvator –  The Strategizer, and –  The Guardian of the Venture and its •  Mission, •  Values, and •  Culture For Classroom Use Only - Del Foit Pondering “There's a well ­known saying that 90% of success in life comes from just showing up. It's a cliché because it's true. Digital and other remote communicaAons are efficient and helpful, but there's much to be said for being there, face ­to ­ face with others."  ­ ­ Rosabeth Moss Kanter, wri&ng in her blog at Harvard Business Review online For Classroom Use Only - Del Foit Four Entrepreneurial Transforma&ons That are Changing the World 1.  Entrepreneurship is the new management paradigm for thinking and reasoning. 2.  Entrepreneurship has spawned a new educaAon paradigm for learning and teaching. 3.  Entrepreneurship is becoming a dominant management model for running nonprofit businesses and social ventures. 4.  Entrepreneurship is transcending business schools. For Classroom Use Only - Del Foit Innova&on + Entrepreneurship = Prosperity and Philanthropy •  Entrepreneurship is an important poliAcal phenomenon. •  The linkage between entrepreneurship and public policy is increasingly important. For Classroom Use Only - Del Foit New Venture Forma&on •  Creates economic and social mobility •  Is opportunity ­centered and rewards talent and performance •  Entrepreneurship is not about religion, gender, skin color, social class, or naAonal origin •  Women and a number of ethnic and racial groups are excelling at entrepreneurship For Classroom Use Only - Del Foit Innova&on Small entrepreneurial firms (since WWII) are: •  Responsible for half of all innovaAon •  Credited with 95 percent of all radical innovaAon •  Led to the creaAon of major new invenAons and technologies For Classroom Use Only - Del Foit Philanthropy and Leadership Successful entrepreneurs give back to the community •  Colleges and universiAes –  New buildings, classrooms, athleAc faciliAes, and endowed professorships –  The largest gius and the greatest proporAon of donors to college capital campaigns •  Local churches, hospitals, museums, orchestras, and schools For Classroom Use Only - Del Foit Pondering “Success shouldn't be measured by how much you have but by how much you give back."  ­ ­ Danny Villanueva, Bas&on Capital Fund chairman and former pro athlete For Classroom Use Only - Del Foit The New Age of Equity Crea&on •  Long ­term perspecAve •  Venture capital industry has followed overall economics •  Over 95 percent of the naAon’s wealth has been created since 1980 – a direct result of the entrepreneurial revoluAon For Classroom Use Only - Del Foit Pondering “Success in business requires training and discipline and hard work. But if you're not frightened by these things, the opportuniAes are just as great today as they ever were."  ­ ­ David Rockefeller, businessman For Classroom Use Only - Del Foit Next Class – September 27th  ­ Prepara&on •  Required Reading –  Chapter 1 [NVC]: Read pgs 1 – 28 •  Assignment –  Review “The Venturekipedia Exercise” pgs 31 ­32 [NVC]; be prepared to share experience in class (refer to class par-cipa-on in syllabus) –  What role(s) does the university play in InnovaAon? For Classroom Use Only - Del Foit The Essence of Survival Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed…..Every morning a lion wakes up. It knows it must outrun the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle….. when the sun comes up, you’d better be running. -Unknown For Classroom Use Only - Del Foit ...
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