Global Entrepreneurship

This course studies the strategies of creating and managing successful technology-based enterprises in the global economy. The students will learn how to combine the power of technology with new ideas and venture capital funds to create private and public wealth. The focus of this proposed course is on strategies of new venture creation, but it will also suggest the management strategies that are crucial to the survival and success of the newly formed ventures.

Justification
The growth and success of the technology-based enterprises have made, in recent years, unparallel contributions, to the prosperity and well being of our global economy. Many of these companies are young in age and small in size and are the fastest growing companies in the world. Many of these companies are also created by fresh graduates. Business schools such as Stanford and Haas have reported that an increasing number of their graduates are now forming their own technology businesses immediately upon graduation. And a growing number of these graduates are becoming millionaires despite of the recent market shakeouts of technology stocks. Several smaller schools like Carnegie-Mellon, Babson, Cranfield and Rotterdam School of Management are forming centers of eEntrepreneur to help their MBA to start-up new companies. The London Business School has recently set up a Venture Capital Fund to help finance their graduates’ start-ups.

In view of these exciting developments, and in order for our students to join this race, we propose a new elective course on Global entrepreneurship to empower our students with the state-of-themoment knowledge and skill to become successful global entrepreneurs.

Objectives
There are three objectives for this proposed course. The first objective is to teach through lectures and case studies, the successful high technology entrepreneurial model. In this part the students should gain the most current and powerful knowledge in using technology to develop a new mindset of identifying business opportunities, understanding the anatomy of successful technology startups, learn how to evaluate business opportunities, knowing how to successfully approach and work with venture capitalists and understanding how venture capital funds are measured and compensated.

The second objective is to discuss and analyze with full participations from students, the ever-changing e-commerce business models and the successful management strategies that are necessary to sustain technology ventures locally and globally. Case studies and visits of local start-ups will help students to gain an insight into the process of starting up a new venture.
The third objective is to teach the students to write a successful start-up plan, in the form of a small group project. The purpose here is to transform technology and ideas into secured financing.

Coverage

1. The economics and competitive landscape of the new global economy. How to use technology to develop a new mindset of business opportunities.

Entrepreneurial theory and practice revisited. How Silicon Valley works, and how its culture of constant business creation and innovation can be applied to Hong Kong.

Being an entrepreneur. How to exploit opportunities associated with core business and how to exploit new opportunities that often emerge spontaneously.

4. Transforming technology and ideas into secured financing. Writing that attractive business plan.

5. Understanding the mindset of your venture capitalists. Understand how their performance are measured and compensated. Entrepreneurial finance revisited. How do they set deal terms and valuations? Valuations models come with business models. How can you work with them to use the IPO process to create new value?

6. Managing stakeholder relationships. Assessing the changing expectations of platform, market share or profit?

7. The architecture of the technology organization. How to instill and foster agility, adaptability and creativity in your organization? How to develop winning teams for innovation? How to continuously anticipate and foster changes to create the best "fit" with changing business models?

8. Capitalizing on merger and acquisition opportunities. How to package a sell when you are still young and beautiful.

9. The business of growth and diversification. How (not) to diversify to reduce corporate value.

10. A survey of global e-entrepreneurs in U.S., Israel, Indian, Japan and Hong Kong. How can we grow to become world-class e-entrepreneur?

Evaluation
Examination 20%
Business plan report and presentation 50%
Participation 15%
Company studies 15%

Readings
A large number of cases will be used to illustrate the strategies of global e-entrepreneurship. These include Amazon, Ariba, Babycenter, Cisco, Doubleclick, Google, HPE-Services Solutions, Global Crossing, Netscape, Silicon Valley Bank, Siebel Systems and Sun. In addition, new materials and books are being written voluminously by the week, a final selection of reading materials will be made at about two weeks prior to the commencement of lectures.