Business & Entrepreneurship
Course outline and Study Materials Provided Below
Case Studies: The Jetson ONE and JetSuit are good examples of entrepreneurial thinking. We will discuss what goes into creating and developing (and funding!) new products like these.
Ch. 1 Review questions
Instructions: Answer questions #1-12 in "Check your understanding", plus problem #18 in "Business Ethics". To save time, photocopy the page in your book, circle your answers, and upload that to Canvas. Question #18 will require a typed response.
Class presentation: "Don't just start a business, solve a problem!"
Do internet research on a business of your choosing - it can be a startup, or a large business. Prepare a 5-minute PowerPoint (or Prezi) presentation describing the ways in which this business solves a problem through its product or service. You will present it at class. A 5-minute presentation typically uses 5-10 slides. Rehearse it so it's exactly 5 minutes +/-.
YETI Case Study: YETI Coolers www.yeti.com was started 10 years ago by brothers Roy & Ryan Seiders. Their market growth has been phenomenal, and the Wall Street Journal just announced (see below) their company was valued at $5 Billion! We will discuss...
Ch. 2 Review questions
Instructions: Answer questions #1-12 in "Check your understanding", plus problem #16 in "Business Math" and problem #18 in "Business Ethics". To save time, photocopy the page in your book, circle your answers, and upload that to Canvas. Question #16 will require a nice neat graph, and #18 will require a typed response. Free graph paper is at www.printfreegraphpaper.com.
"The Sharing Economy"
Scooter-sharing has sprung up all over! We will take a look at their business model and crunch some numbers to see if it makes any money. We will also see if the "juicers" (the rechargers) can actually make money....
Ch. 3 Review questions
Instructions: Answer questions #1-12 in "Check your understanding", plus questions 18 & 19 on the following page. To save time, photocopy the page in your book, circle your answers, and upload that to Canvas. Questions 18 & 19 will require a typed response.
We will learn
Apple Case Study
Apple Computer, founded by Steve Jobs, is a classic example on "recognizing opportunities" and coming up with creative products that changed the world.
Ch. 6 Review questions
Instructions: Answer questions #1-12 in "Check your understanding", plus questions 17 & 18 on the following page. To save time, photocopy the page in your book, circle your answers, and upload that to Canvas. Questions 17 & 18 will require a typed response.
Prepare a 1-minute elevator pitch on a business idea of your choice. Be prepared to give your pitch at an upcoming class. You must include the "Three C's" in your pitch (see p. 141). You may choose a well known product, or come up with one of your own.
Case Study: Aptera Motors
An excellent example of "targeting" and "product differentiation" https://www.aptera.us/
Starting a car company requires financing. This is how Aptera Motors initially hoped to gain investors: https://wefunder.com/aptera
Market Research focuses on 3 areas
1. The business environment
2. Your customers
3. Your competition
Case Study: Apple iPhone "1"
Steve Jobs introducing the iPhone in 2008. This is one of the most iconic product roll-outs in history! This product made Apple the most valuable company in the world.
Watch the video in class:
Ch. 7 Review questions
Instructions: Answer questions #1-12 in "Check your understanding", plus question #16 on the following page. To save time, photocopy the page in your book, circle your answers, and upload that to Canvas. Question 16 will require a separate response.
Marketing is how you present your business to customers. You are communicating the value proposition of your product or service.
We will discuss these key concepts in class:
Case Study: Tesla's marketing strategy
Tesla Motors was launched by Elon Musk, who made his initial fortune creating the firm "PayPal". In the video below, Mr. Musk recounts the whole marketing strategy of Tesla from its beginning.
Incorporating your Business
You will complete the legal forms to create a California Corporation, and present them to the class via webinar.
Ch. 8 Review questions
These are hosted in Canvas as multiple-choice. Refer to due date there.
Executive Summary Business Plan assignment
"Nothing happens until someone SELLS something" - Peter Drucker, famous management consultant
Characteristics of a successful salesperson:
Classroom Case Study: Cybertruck and Rivian electric trucks
Compare the 'sales pitch' given by CEO's Elon Musk and R.J. Scaringe. Then compare to a more-polished salesperson.
How do they:
These are hosted in Canvas as multiple-choice. See the due date there.
Ch. 9 Review questions
These are hosted in Canvas as multiple-choice. Refer to due date there.
Case Study: Eli's Cheesecake Company
We will look at how entrepreneurs make decisions around costs involved with running their business.
Read Ch. 10
Ch. 10 Business Decisions review questions
These are now hosted in Canvas.
Things to know
The Income Statement shows a company's performance over a given time period (1 month, for example)
The Balance Sheet shows a company's standing at a given point in time (Dec. 31st, for example)
The Cash Flow Statement shows the flow of cash in-and-out, and the current cash balance (cash-on-hand)
A business prepares the above 3 documents at least every month, for 1) the Bank and other Lenders, and 2) for inside management to examine
A Calendar Year runs Jan 1st thru Dec 31st
A Fiscal Year can occupy any 12-month period (July 1st thru Jun 30th, for example)
Profit and Loss Statement is just another name for "Income Statement"
Ch. 11 Review Questions
The Ch. 11 "Check Your Understanding" questions are hosted in Canvas.
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Things to Know
Ratios derived from Income Statement
Ratios derived from Balance Sheet
California Electric Vehicles - Income Statement analysis
Ch. 12 Review Questions
The Ch. 12 "Check Your Understanding" questions are hosted in Canvas.
Sources of Funding listed from 'easy' to 'complicated'
Bank Loan Application exercise
California Electric Vehicle, Inc - Balance Sheet analysis
Turn in your completed work on Canvas.
Ch. 13 Review Questions
The Ch. 13 "Check Your Understanding" questions are hosted in Canvas.
Know these business documents
"Money & Banking" class experiment
Ch. 14 Review Questions
These are hosted on Canvas
CEV Marketing Plan assignment
Begin a marketing plan for the 'E-Truck'! Turn in your completed work on Canvas.
Know the basic types of Organizational Structures
Sole Proprietorship, Partnership, Corporation
Line vs. Staff personnel
Project or "Matrix" structure
Be aware of the costs of hiring someone
Wages, incentives, payroll taxes, paid holidays, benefits
Recruiting & Hiring
Indeed, LinkedIn, Monster, CareerBuilder, and company job boards
How to write a job description
How to write a resume
Types of compensation
Union vs Open shop, and Prevailing Wage (Davis Bacon)
How to train employees
Coach and train them tirelessly
Shadowing w/another employee
Job training services, Comm'y College
Theories of workforce motivation (compare & contrast)
How to build a company
How to motivate employees (some random ideas)
How to be an inspiring leader
Steve Case, AOL founder, used these (3)
Organizational Chart assignment
This is hosted on Canvas
Ch. 15 Review Questions
Hosted on Canvas
Performance Review assignment
Instructions are in Canvas. Here are a few examples, but DO YOUR OWN!
Company Research Assignment
"Leadership Styles" class presentation
Intellectual Property - "Intangibles"
Patents - 1. novel, 2. non-obvious, 3. useful
Contracts - (4) necessary elements
Lucy vs. Zehmer - a famous 'contract' example:
Ch. 16 Legal Issues homework
These are hosted in Canvas
Virus Pandemic Business Shutdown scenario
All the Federal & State data here: https://www.usgovernmentspending.com/
Businesses pay taxes to Federal AND State governments
Deductions lower your income taxes
Tax avoidance is ILLEGAL. The IRS is slow but they will come after you if you don't pay. Taxes owed are NOT discharged in bankruptcy, either.
A Tax Credit lowers your tax directly. Only certain things qualify for a tax credit:
Government Regulations come from Federal AND Local governments
Ch. 17 Taxes and Regulations homework
Hosted in Canvas
John & Jane Q. Public tax assignment
REVISED 5/4/20: Please do the Covid-19 Lawsuit assignment below, instead.
Covid-19 Lawsuit assignment
Numerous businesses are suing and being sued in relation to the Coronavirus pandemic. They include major Cruise Lines, WalMart, Costco, nursing home facilities, fitness clubs, restaurants, airlines, colleges, and even the Communist Government of China is being sued!
Do a search for "a list of Covid-19 related lawsuits" to get an overview. Go to the 3rd or 4th page to get past all the law firms advertising themselves.
Pick any 3 lawsuits that interest you
Then write a 'briefing' of each lawsuit, including the following 4 items:
In this Unit, we discuss the 'Four Functions of Management'
We compare 'Leadership' vs. 'Management', and examine the qualities needed for both.
We contrast the "Three Leadership Styles"
We also compare "Theory X" and "Theory Y" management styles, and discuss when each might be appropriate.
We learn how to create a "Gantt Chart" for managing a project, as well as a "Cash Flow" spreadsheet
Finally, we discuss the factors contributing to a "Toxic work environment" vs. a Healthy, Positive Company Culture.
Ch. 18 Management homework questions
For this assignment, respond to the following (15) questions:
Assessment 18.1 on p. 498: answer all (8) questions.
Assessment 18.2 on p. 504: answer all (6) questions
Thought question: What motivates people to follow a leader? Rank these according to "importance", and provide a brief explanation for each one stating why you ranked it in the order your did.
TESLA Reopening assignment
Elon Musk recently announced he is reopening his large Fremont, CA car factory, stating, "Tesla is restarting production today against Alameda County rules. I will be on the line with everyone else. If anyone is arrested, I ask that it only be me." (Do a search on "Tesla reopening factory")
Tesla will need to abide by CDC reopening guidelines https://www.documentcloud.org/documents/6889330-Guidance-for-Opening-Up-America-Again-Framework.html?fbclid=IwAR1R-cU5uuAB6TxOYlkS_jkp0H7B4dzzAYhDwtLM7jmTS_jrmovUvg-vlhc
You will need the "Interim Guidance for Employers" found on p. 56-59.
The outline used in this chapter:
Operations (this book means "Back-office operations")
Production & Operations homework questions
For this assignment, respond to the following (11) questions:
Assessment 19.1 on p. 520: answer all (5) questions.
Assessment 19.2 on p. 526: answer questions #1-3
"Check Your Understanding" questions on p. 530: answer questions #13, 16, 17
Types of Growth
Product Life Cycle
Four Growth Strategies (see Ansoff chart, above)
Business Growth homework questions
For this assignment, respond to the following (10) questions:
Assessment 21.1 on p. 566: answer questions #1-5.
Assessment 21.2 on p. 570: answer questions #1-3
"Check Your Understanding" questions on p. 574: answer questions #16, 17