New Enterprise and Small Business Management and
the YourCo. Simulation Game
Developed by Waverly Deutsch, Ph. D.
Clinical Assistant Professor of Entrepreneurship
University of Chicago Graduate School of Business
The University of Chicago Graduate School of Business
5807 South Woodlawn Avenue, Chicago, Illinois 60637
Tel 773.834.1134 Fax 773.834.4046
gsbwww.ChicagoGSB.edu/entrepreneur
Introducing YourCo
Experiential Learning at Chicago GSB
The Class: New Enterprise and Small Business
Management
YourCo. Simulation
Purpose
Play
Outcome
Elements of Performance
Conceptual
Knowledge
Domain
Knowledge
Action
Skills
Actions
Outcomes
Source: Davis and Hogarth 1992
GSB Entrepreneurship Curriculum
New Venture Strategy
Opportunity identification
Private Equity and New Venture Finance
Funding start
-
ups
New Venture Challenge
Business plan creation
But, what do you
do
?
New Enterprise and Small Business Management
Execution
–
“A vision without execution is a hallucination.”
Steve Case, AOL
Overview of the Course
1.
State of Entrepreneurship
2.
Entrepreneurial Characteristics and Start
-
up Business
Models
3.
Market Segmentation and Selection
4.
Marketing Tactics
5.
Sales
6.
Product Development
7.
Operations
8.
Growth Challenges
9.
Alternatives to Starting Your Own Business
10.
Diversification or Exit
YourCo. Simulation
“Year” in the life of a start
-
up
Idea, Proof
-
of
-
concept, Early Growth
Eight assignments paralleling course content
1.
Launch
2.
Market selection and 1
st
marketing campaign
3.
Sale
4.
Product improvement
5.
Operations
6.
Diversification or exit
7.
CRISIS
Report Format
2 Pages to address specific issue
Write a one paragraph elevator pitch describing your business.
Using your own backgrounds as the guideline, describe the management team.
Assess any critical holes in personnel and describe how you plan to fill those
holes.
Determine the amount of seed funding you need to launch and describe how you
raised it.
3 additional pages each assignment
Page 3
--
Tell me anything else I need to know about what happened during this
month of operations.
Page 4
–
Week 1: Create a basic budget for 1 year of operation. Each week:
show one month of burn.
Page 5
--
Describe how you arrived at the above. What data did you discover?
What sources did you look at? Who did you talk to?
A limited number of exhibits
–
resumes, graphics, data, etc.
–
are
allowed
Grading
There are 8 points per assignment
5 for the answer to the specific question
3 for how you arrived at it
–
methodology and research
Plus 2 potential bonus points for follow
-
up or miscellaneous
Points are awarded for
Creativity
Completeness
Credibility
Businesses models are assigned a difficulty multiplier
between .9 and 1.1
Winning team is guaranteed a “A” in the course
“Play” of the Game and the ROLL of Luck
In class challenges of critical accomplishments
YourCo. Probability Calculators
ROLL a 10 sided die to determine success
Other Accoutrement
REPRIEVE
LUCKY BREAK
INSTANT REPLAY
Outcomes
Key teaching points
Intellectual property, business licenses and permits, taxes, etc.
Insight learning
Networking
•
“I learned more in our one hour conversation with him than I could
have learned reading on the Internet forever.”
Experience
•
“This class kept me awake at night worrying about all the details of
our ‘fake’ business.”
•
“
I learned more about being an entrepreneur through this class than
I could have any other way, short of starting my own business.”
Thank you.
Waverly Deutsch
Waverly.deutsch@ChicagoGSB.edu
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