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Course Descriptions
- Foundations of Entrepreneurship B65.3335
This course offers a framework for understanding the entrepreneurial process and exposes the student to challenges, problems and issues faced by entrepreneurs who start new ventures. Teaching methods include case study, guest speakers with entrepreneurial experiences, lectures and team projects which develop actionable business plans. Major objectives are for students to learn how to identify and evaluate business opportunities, develop a business concept and marketing plan, assess and obtain the required resources, manage the growth of new ventures and exit strategies.
- Social Venture Capital B40.3148
This course explores a spectrum of financial tools used to create social value. Traditional financial instruments are ultimately judged by their bottom line: the financial returns they produce. This course examines financial instruments designed to produce not only financial returns, but also social returns; these instruments are commonly known as "double bottom line" investments. Such financial instruments exist on a spectrum from grants-where no financial return is contemplated-to socially screened investment portfolios, which many claim produce financial returns that are equal or superior to market returns. In between are program-related investments, community development venture capital investments, and socially motivated loans. Special purpose financial institutions called community development financial institutions have emerged that use a range of investments to achieve social goals; the course will examine the structures and social missions of these institutions. Finally the course will consider the challenges of quantifying social returns produced by double bottom line investments. Practitioners on the cutting edge of their fields will be guest speakers, bringing a real-world aspect to the course. At the end of the course, students will chose a topic of particular interest to them to explore further in a paper.
- Entrepreneurial Finance B40.3361
This course identifies and follows the "wealth creation cycle" that begins with company startups, passes through successive stages of various kinds of private equity financing, and ends with the harvesting of the created wealth through a sale or merger or initial public offering. Emphasis is placed on how entrepreneurial firms adapt financing and financial contracts to the information asymmetry problems, the high degree of uncertainty, and the conflicts of interest associated with start-ups.
- Venture Capital Financing B40.3173
When it comes to raising capital for early stage companies, entrepreneurs, venture capitalists, agent bankers and their research analysts alike often consider themselves at cross purposes. This course provides institutional background and detail necessary to deal with the venture capital and new issues markets. Students will examine basic valuation issues, appropriate capital structure, the value of liquidity, and the value of control. They will also consider the intangible aspects of entrepreneurship and venture capital forms of financing. By exploring the issues of valuation, structure and control in this course, it is expected that students will gain the perspective needed to be successful in the fund raising process. Given that objective, team case studies will be chosen that illustrate how the different viewpoints can be reconciled.
- New Venture Financing B40.3373
This course focuses on financing entrepreneurial companies, especially startup and early-stage ventures. The overall aim of the course is to understand how entrepreneurs and their financial backers can spot and create value. This involves learning about the topics that trace out the 'venture capital cycle, such as opportunity recognition, valuation and evaluation, negotiating funding, and managing the investment. The course will explore the new venture finance from a number of different perspectives: the entrepreneur's, the venture capitalist's, that of the inestors backing the VC (such as pension funds and college endowments), and stock-market investors at the IPO. The course is not open to students taking, or having taken, Entrepreneurial Finance" (B40.33361). Although the two courses cover similar ground in some lectures, "Financing New Ventures" focuses more heavily on startups and the workings of the venture capital industry than does "Entrepreneurial Finance".
The Practicum Course gives students the hands on educational experience of making investments in social ventures and providing management assistance to grantees. Practicum students will manage their own $100,000 investment fund and also support the related work of the Satter Fund. Students will conduct due diligence on applicants; evaluate and enhance applicants’ performance measurement methodologies; work with the prospective grantees to refine their business plans and presentations; write evaluations of the proposed organizations and make recommendations on investments; and, provide management assistance to portfolio organizations on an ongoing basis. The course involves academic instruction, readings, case studies and guest lectures.
Professor Klein is the executive director of the Blue Ridge Foundation New York.
Course enrollment is capped at 20 students. Enrollment by Application only. Email C.V. and one paragraph description of interest to mklein@blueridgelp.com.
- Technological Innovation and New Business Development B60.3356
This course offers perspectives and frameworks that seek to understand how technological innovation and new business development can generate growth and economic value in established firms. To that end, it addresses issues pertaining to the discovery, development, and diffusion of technological advances and innovations as well as the design of strategies and organizational practices that lead to successful venturing outcomes. These issues include: How should established firms deal with disruptive technologies that may threaten their core business? How can mature organizations cultivate creativity and sustain an innovative climate? When should alliances and joint venture strategies be employed to develop and commercialize new technologies? The course will integrate both an academic and practitioner view of the challenges facing corporations involved in managing technological innovation and new business development as well as approaches to dealing with these challenges successfully. It should be of interest to those who wish to work as a member of a new business development or corporate venture capital team, as the general manager of a corporate venturing group, or as a member of senior management overseeing new business development or corporate venture investment activities.
- Social Entrepreneurship B65.2128
Course Outline - Spring 2006
This course introduces students to the burgeoning field of social entrepreneurship, which is defined as the process of creating new independent or corporate ventures that pursue the dual primary missions of social benefit and financial return on investment. These nonprofit and for profit ventures have a social mission and aim to be financially self-sufficient or are profit driven. The course will draw on historical and contemporary models to explore the unique range of issues and challenges facing the new social venture. The course teaches students to focus on solutions to societal problems and to evaluate the market opportunities for social venture creation. We will also explore the social capital markets and the trade off between social and financial returns, and discuss issues related to acquiring needed resources. Finally, the course will examine the unique management and marketing strategies for the growing social venture.
- Managing the Growing Company B65.2327-
Syllabi This course exposes students to the unique challenges of managing the growth of small businesses. It concentrates on building the company issues rather than start-up issues, although some cases and lectures explore start-up as well. The course also includes studies of family businesses that have acute growth issues because of succession and family dynamics. The course is designed for students interested in understanding the opportunities and problems involved in the management or operation of their own business; also is aimed at students considering employment in a small or mid-sized firm. The differences between small firms, and large organizations, management needs, practices, and financial resources are examined.
- Family Business Management B65.2328
*Did you know that family businesses make up 80% of all American businesses, and over 90% of businesses globally? And that they constitute one-third of the Fortune 500?
While most students will not go into their own family's business, most will in fact work with them on a daily basis - as clients in the M&A deals, private banking relationships, private wealth management, consulting, vendors, or, simply as customers. One of his students who took the course landed a job in Private Wealth Management at Goldman Sachs, and she feels the course learnings were invaluable in her daily dealings with owners of substantial family firms. Another student working for Merrill Lynch in Private Wealth Management reports that he gets as many questions from his clients about family business matters as he does about investments and that the cases, guests, and lectures in the course have proven invaluable in his work.
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Course Schedule
Course Description
