Entrepreneurship 1: Developing the Opportunity

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Entrepreneurship 1: Developing the Opportunity

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About this course: How does a good idea become a viable business opportunity? What is entrepreneurship and who fits the profile of an entrepreneur? This introductory course is designed to introduce you to the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, the difference between entrepreneurship and entrepreneurial management, and the role of venture creation in society. You’ll explore where technology entrepreneurship and impact entrepreneurship align and where they diverge, and you’ll learn proven techniques for identifying the opportunity, assessing the opportunity, hypothesis testing and creating a prototype. …

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Didn't find what you were looking for? See also: Entrepreneurship, Business Management, Retail (Management), English (FCE / CAE / CPE), and Innovation.

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: How does a good idea become a viable business opportunity? What is entrepreneurship and who fits the profile of an entrepreneur? This introductory course is designed to introduce you to the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, the difference between entrepreneurship and entrepreneurial management, and the role of venture creation in society. You’ll explore where technology entrepreneurship and impact entrepreneurship align and where they diverge, and you’ll learn proven techniques for identifying the opportunity, assessing the opportunity, hypothesis testing and creating a prototype. By the end of this course, you’ll know how to test, validate and prototype your idea, and also whether or not you fit the profile of an entrepreneur! You’ll also be ready to move on to the next phase of entrepreneurship in Entrepreneurship 2: Launching the Start-Up.

Created by:  University of Pennsylvania
  • Taught by:  Lori Rosenkopf, Vice Dean and Director, Wharton Undergraduate Division

    Simon and Midge Palley Professor of Management
  • Taught by:  Laura Huang, Assistant Professor

    Management
  • Taught by:  Karl T. Ulrich, Vice Dean of Entrepreneurship and Innovation

    The Wharton School
  • Taught by:  Ethan Mollick, Edward B. and Shirley R. Shils Assistant Professor

    Assistant Professor of Management- Wharton School
  • Taught by:  David Bell, Xinmei Zhang and Yongge Dai Professor, Professor of Marketing

    Marketing
  • Taught by:  Kartik Hosanagar, Professor

    Wharton School
  • Taught by:  David Hsu, Richard A. Sapp Professor of Management

    The Wharton School
Basic Info Course 1 of 5 in the Entrepreneurship Specialization Commitment 4 weeks of study, 1-2 hours/week Language English, Subtitles: Vietnamese, Arabic How To Pass Pass all graded assignments to complete the course. User Ratings 4.8 stars Average User Rating 4.8See what learners said Coursework

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University of Pennsylvania The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.

Syllabus


WEEK 1


Introduction and Course Materials



This module was designed to introduce you to the team of Wharton professors who are teaching this course and others in the Entrepreneurship Specialization. You will also discover that entrepreneurship has different applications and even different definitions in academia and in practice. By the end of this short module, you'll know what entrepreneurship means to you and others, and understand some of the common arguments about entrepreneurship as a field of study.


3 videos expand


  1. Video: 0.1 Introduction to the Professors and Wharton
  2. Video: 0.2 What Is Entrepreneurship?
  3. Video: 0.3 Can You Teach Entrepreneurship?


Module 1: Introduction to Entrepreneurship



This module was designed to introduce you to the broad definition of the diverse topic of entrepreneurship and to give you an overview of the field. You'll learn the types of entrepreneurs, the most common categories of entrepreneurial ventures, and their key differentiating factors. Using real world examples, you'll see entrepreneurship in action in a wide variety of environments, from small businesses to social enterprises to large corporations. At the end of this module, you'll be able to define what entrepreneurship means to you, whether or not you fit the profile of the entrepreneur, and how to classify your venture to others. You'll also be able to cite current examples of successful entrepreneurial enterprises to support your own venture.


9 videos, 2 readings expand


  1. Video: 1.1 Course Introduction
  2. Video: 1.2 Profile of the Entrepreneur
  3. Video: 1.3 Entrepreneurship in Established Firms
  4. Video: 1.4 Venture Creation's Role in Society
  5. Video: 1.5 Types of Enterprises
  6. Video: 1.6 Technology Entrepreneurship
  7. Video: 1.7 Impact Entrepreneurship
  8. Reading: PDFs of Lecture Slides
  9. Reading: Audio Interviews with the Founders of Terrafugia and Wanderu
  10. Video: (Optional) The Role of Venture Creation in Society: Interview: Andy Rachleff, Founder, Wealthfront, Co-founder, Benchmark Capital
  11. Video: (Optional) Entrepreneurship in Established Companies: Interview with Scott Mills, EVP, Chief Administrator Officer, Viacom

Graded: Module 1: Introduction to Entrepreneurship Quiz

WEEK 2


Module 2: Opportunity Analysis



In this module, you'll learn how to discover, develop, and assess opportunities, so you can choose one that has the best potential for success. Starting an enterprise is uncertain by nature, but you can increase certainty and decrease some risk by evaluating potential opportunities using thoughtful processes proven to help you decide which opportunities are better positioned for growth. You'll learn how to determine a market need, develop a solution, evaluate your solution using a variety of methods, and pressure test your idea. You'll also learn several methods of evaluating opportunity, including using customers, the VIDE model, and the tournament method. You'll see these processes applied to real world examples of both opportunities which were ultimately successful and those that failed. By the end of this module, you'll be able to apply these evaluation process to your own opportunities, and/or use them to discover new ones with greater potential for growth.


7 videos, 2 readings expand


  1. Video: 2.1 Opportunities and Uncertainty
  2. Video: 2.2 Push and Pull and the Sources of Innovation
  3. Video: 2.3 Customers as Sources of Opportunities
  4. Video: 2.4 Importance of the Idea (VIDE Model)
  5. Video: 2.5 Assessing Opportunities
  6. Video: 2.6 The Tournament Approach
  7. Reading: PDFs of Lecture Slides
  8. Reading: Audio Interviews with Founders of TemperPack and Of Mercer
  9. Video: (Optional) From Idea to Opportunity: Interview with Amy Errett

Graded: Module 2: Opportunity Analysis Quiz

WEEK 3


Module 3: Markets, Need-Finding and Planning



This module will help you define your market, identify your user, harness the wisdom of the crowd, and come up with an informed plan for your venture. You'll learn market segmentation, how to determine user needs, how to use the competitive landscape as well as potential users to refine your idea, and how to create a simple but powerful plan for your start-up that will allow you to avoid common mistakes and pitfalls. By the end of this module, you'll be able to refine your own pitch, develop a clearer picture of your user, and develop a useful model for your own enterprise.


8 videos, 2 readings expand


  1. Video: 3.1 Defining the Focal Market: Market Segmentation
  2. Video: 3.2 Understanding User Needs
  3. Video: 3.3 Competitive Analysis
  4. Video: 3.4 Generating Ideas with Individuals and Groups
  5. Video: 3.5 Planning: Assumptions
  6. Video: 3.6 Planning: Discovery Driven Planning
  7. Video: 3.7 Planning: Discovery Driven Planning Worksheet
  8. Reading: PDFs of Lecture Slides and Better Desk Spreadsheet
  9. Reading: Audio Interview with Founders of Minibar and Relay Rides
  10. Video: (Optional) Talent Management and Development: Interview with Jackie Reses

Graded: Module 3: Markets, Need Finding and Plannning Quiz

WEEK 4


Module 4: Pitching, Testing, and Prototyping



In this module, you'll learn how to pitch your idea, test it, and create a prototype. You'll learn why there's no single formula for a successful pitch, the best techniques for formulating good surveys, and strategies for creating prototypes for physical goods, software, and services. By the end of this module, you'll be be able to identify the key components of a successful pitch, know how to use surveys effectively to test your idea, and come up with a plan for building a prototype of your own product or service.


7 videos, 2 readings expand


  1. Video: 4.1 The Elevator Pitch
  2. Video: 4.2 Testing your Idea: Surveys
  3. Video: 4.3 Creating a Prototype: Physical Goods
  4. Video: 4.4 Creating a Prototype: Software
  5. Video: 4.5 Creating a Prototype: Services
  6. Video: 4.6 Summary and What's Ahead
  7. Reading: PDF's of Lecture Slides
  8. Reading: Audio Interview with Founders of Caviar
  9. Video: (Optional) Launching a Start-up: Interview with Co-founders of Prayas Analytics

Graded: Module 4: Pitching, Testing and Prototype Quiz
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