ENT 527
Studies in Entrepreneurship
Winter 2010
Professor: Dr. Dave Valliere
Office Location: TRS 1-087
Office Hours: Mondays, 2:00pm
Telephone: (416) 979-5000 x7603
Fax: (416) 979-5266
Email: [email protected]
Website: www.ryerson.ca/~valliere
Course Description:
This course will expose the student to many of the topics currently dominating the study of
entrepreneurship. These may include theoretical perspectives on the economic and social function of
entrepreneurs, psychological and cognitive aspects of entrepreneurs, the intersection of opportunities and
enterprising individuals, the decision to exploit, and the new venture creation process. Students will be
expected to read and critically analyze current and classic research on entrepreneurship, to synthesize
diverse perspectives, and to contribute their own original thoughts to significant debates in the field. The
course features a combination of seminars, presentation, readings, and lectures to enhance the student‟s
understanding of entrepreneurship as an academic discipline, and to develop an ability to apply this
research to the practical managerial challenges of the entrepreneurial firm.
Course Overview:
This course is designed for students who wish to understand entrepreneurship from a deeper and more
theoretical perspective than simple practitioner guidance. It introduces and integrates theory from the
domains of business strategy, economics, and individual psychology to develop an advanced perspective
on the function of entrepreneurship in a modern society. It also exposes students to advanced topics in
research methods and to the current knowledge frontier in the development of a theory of entrepreneurship.
This course therefore provides excellent preparation for further academic studies at graduate level.
Course Objectives:
Upon completion of the course, students will be able to:
Search and access scholarly research in peer-reviewed management journals
Critically review the importance, philosophy, research design, results and implications of scholarly
research
Review and summarize significant trends and debates in the entrepreneurship literature
Understand the state of major streams of entrepreneurship research, and methodological approaches
and tools.
Prerequisite(s):
ENT526
Teaching Methods:
This course may incorporate the following teaching/learning methods: readings from academic journals
and professional publications, student-led discussion seminars, lectures, guest speakers, videos,
presentations.
Class attendance and active participation is essential; if you do not intend to participate fully, do not take
this course. Data sources and materials for assignments may include lectures, assigned readings, videos,
academic journal articles, business magazine articles, and guest speakers‟ content.
Support:
A Blackboard forum will be established for sharing questions and ideas outside of regular class times. You
are encouraged to make use of it.
Evaluation:
Students will receive the results of their first assignment work by Week 9. There is a final exam in this
course.
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Methods of Posting Grades:
Grades will be posted anonymously on Blackboard using truncated student numbers where appropriate. It
is the student‟s responsibility to check grades on Blackboard. Students who wish to be informed of their
grades by an alternative method must obtain the agreement of the instructor by the start of Class 3.
E-mail Usage & Limits:
E-mail to the instructor should be reserved for questions or issues that are unsuitable for discussion on
Blackboard, such as private or sensitive matters. When e-mail is appropriate, you must use your official
Ryerson account; other accounts will be ignored.
Assignments and Grading
Interim grades will be posted on Blackboard. All assignments in this course are to be done individually.
Class Participation – (10%)
Your presence and contribution to in-class learning is vital. This means being well prepared, contributing,
listening and building on others‟ ideas and being ready to disagree with others and to develop your own
position. Participation is evaluated based on the quality and quantity of your contribution to discussions; inclass participation and participation through Blackboard are equally valued. You can actively influence your
own participation grading. Each week, after class, you should estimate your own grade (on a 10-point scale)
and give a one-line rationale for your recommended grade. Save these weekly recommendations. At the start
of classes 6 and 12, you may provide a copy of your weekly recommendations to the instructor. The instructor
will assign a grade based partly on subjective evaluation of your recommendations. Students who persistently
fail to participate in the class, as evidenced by three occasions of lack of adequate preparation of assigned
readings (as determined by the instructor), may be given a grade of F in this course by the instructor. If you
continue in this course, you are agreeing to this condition. Students who are Entrepreneurship majors may
have up to 3 of the 10 class-participation points assessed by preparatory work for another ENT course.
Entrepreneurship majors: Three of the 10 marks available for your class participation grade will be determined
by a small written assignment that prepares you for later success in ENT730. This assignment will be designed
and graded by the instructor of ENT730. If you are double major with Entrepreneurship as your second major,
this assignment is at your option. If you are not an Entrepreneurship major, your participation grade will be
calculated solely on your in-class and Blackboard contributions.
Logic Assignments – (18%)
Entrepreneurs need the ability to think more clearly than other people in business; this allows them to see
things that others miss and to avoid the mistakes commonly made by others. Throughout this course we will
be completing six short logic assignments designed to develop your logical thinking abilities. Each assignment
will be provided at the end of one class and will be due in hardcopy form at the start of the next class or by
email to the instructor, time-stamped ten minutes before the start of class. You may be called upon randomly
to briefly present any of these logic assignments in class for group discussion and critique.
Numeracy Quiz – (12%)
To be successful, entrepreneurs also need to be comfortable manipulating a variety of numeric data such as
market sizes, sales forecasts, growth rates, production costs, and investor returns. This short in-class quiz will
help you to assess your own competence with numbers, by requiring you to perform a variety of numeric
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estimates and calculations commonly needed by entrepreneurs. You may bring and use a calculator without
communications capabilities.
Midterm – (25%)
One class will be devoted to a closed-book in-class test on all course material covered to-date. This will
include lectures, tutorials, and assigned readings. You should expect to do some writing, which should be
clear, concise, and well-structured.
Exam – (35%)
The final exam will cover all course material, including lectures, tutorials, assigned readings, previous
assignments, and guest lectures. A mix of short-answer and multiple choice questions may be used. Standard
exam rules and conditions will apply.
Critical information:
Assignments are due the first ten minutes of class on the dates specified, without exception; late
submissions will be penalized and may not be graded. If you are unable to submit on the due date,
arrange for an early submission. Any absence from class does not excuse you from assignment deadlines.
Be sure to keep an extra copy of all assignments that you hand in.
It is your responsibility to clarify any ambiguities that you may find in course materials or syllabus;
when in doubt, ask.
Ryerson requires that any official or formal communications from students be sent from their official
Ryerson email account. Similarly, emails from the instructor will be sent only to your Ryerson account.
Course Materials:
There is no assigned textbook. All readings for this course are available (usually electronically) through the
Ryerson library, or will be distributed by the instructor prior to class. You are responsible for obtaining
copies from these sources, and for respecting applicable copyright laws.
CLASS SCHEDULE
Class
Topics
Tutorial *
Deadlines
1
Introduction
Searching
2
Theory of entrepreneurship
3
Economics
LA1
4
Entrepreneurial thinking
Logic
LA2
5
Psychology and cognition
Bias
LA3
6
Opportunities
Numeracy
Participation
7
Midterm
Midterm
8
Entrepreneurial motivation
Statistics
LA4
9
Risk and options
Numeric quiz
10
Resources, Decision to exploit
Raising money
LA5
11
Information economics
Private info
Participation
12
Rhetoric
Review
LA6
* Tutorials may differ from this initial plan, and differ among sections. Check with your instructor.
N.B., “Class” refers to an actual meeting, not to elapsed weeks; these may differ due to holidays, etc. Check the
Ryerson calendar for details.
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READING SYLLABUS
To be successful in this course, you must read the assigned materials in advance of the associated class; if
you do not intend to stay on top of the readings, do not take this course. Every article in this course has
been selected with care, and is worthy of your attention. But, as will be discussed in Class 1, not all
assigned articles need be read with equal care and depth. The following guidelines are provided to help you
manage your time effectively:
(A) Must read completely and carefully
(B) Read for key points
(C) Skim for background only
Class 2 – The Field of Entrepreneurship
Podsakoff, P. M. and D. W. Organ (1986). “Self-reports in organizational research: Problems and
prospects.” Journal of Management 12(4): 531-544. (C)
Podsakoff, P. M., S. B. MacKenzie, et al. (2003). “Common method biases in behavioural research:
A critical review of the literature and recommended remedies.” Journal of Applied Psychology
88(5): 879-903. (C)
Venkataraman, S. (1997). “The distinctive domain of entrepreneurship research.” Advances in
Entrepreneurship, Firm Emergence and Growth. 3: 119-138. (A)
Shane, S. and S. Venkataraman (2000). “The promise of entrepreneurship as a field of research.”
Academy of Management Review 25(1): 217-226. (A)
Class 3 – Economics
Gedeon, S. (2007). “A lexicon of entrepreneurship.” working paper, Ryerson University, Toronto.
(B)
Baumol, W. J. (1990). “Entrepreneurship: Productive, unproductive and destructive.” Journal of
Political Economy 98(5): 893-921. (A)
Kirzner, I. (1997). “Entrepreneurial discovery and the competitive market process: An Austrian
approach.” Journal of Economic Literature 35(1): 60-85. (C)
Class 5 – Psychology and Bias
Kahneman, D. and A. Tversky (1979). “Prospect theory: Analysis of decision under risk.”
Econometrica 47(2): 263-291. (A)
Baron, R. A. (1998). “Cognitive mechanisms in entrepreneurship: Why and when entrepreneurs
think differently than other people.” Journal of Business Venturing 13(4): 275-294. (B)
Ciavarella, M. A., A. K. Buchholtz, et al. (2004). “The big five and venture survival: Is there a
linkage?” Journal of Business Venturing 19(4): 465-483. (B)
Class 6 – Where Opportunities Come From
Shane, S. (2000). “Prior knowledge and the discovery of entrepreneurial opportunities.”
Organization Science 11(4): 448-469. (A)
Gaglio, C. M. and J. A. Katz (2001). “The psychological basis of opportunity identification:
Entrepreneurial alertness.” Small Business Economics 16(2): 95-111. (C)
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Sarasvathy, S. (2001). “Causation and effectuation: Toward a theoretical shift from economic
inevitability to entrepreneurial contingency.” Academy of Management Review 26(2): 243-263.
(A)
Class 8 – Where Entrepreneurs Come From
Gartner, W. B. (1989). “„Who is an entrepreneur?‟ is the wrong question.” Entrepreneurship
Theory and Practice 13(4): 47-67. (A)
Krueger, N. F., M. Reilly, et al (2000). “Competing models of entrepreneurial intentions.” Journal
of Business Venturing 15(5/6): 411-432. (B)
Amit, R., E. Mueller, et al (1995). “Opportunity costs and entrepreneurial activity.” Journal of
Business Venturing 10(2): 95-106. (C)
Thompson, J., G. Alvy, et al. (2000). “Social entrepreneurship: A new look at the people and the
potential.” Management Decision 38(5): 328-338. (B)
Class 9 – Risk and Uncertainty
Simon, M., S. M. Houghton, et al. (1999). “Cognitive biases, risk perception, and venture
formation: How individuals decide to start companies.” Journal of Business Venturing 15(2): 113134. (A)
Palich, L. E. and D. R. Bagby (1995). “Using cognitive theory to explain entrepreneurial risktaking: Challenging conventional wisdom.” Journal of Business Venturing 10(6): 425-438. (A)
Sarasvathy, D., H. Simon, et al (1998). “Perceiving and managing business risks: Differences
between entrepreneurs and bankers.” Journal of Economic Behavior and Organization 33(2): 207225. (B)
McGrath, R. G. (1999). “Falling forward: Real options reasoning and entrepreneurial failure.”
Academy of Management Review 24(1): 13-30. (B)
Class 10 – Resources, Decision to Exploit
Barney, J. B. (2001). “The resource-based view of the firm: Ten years after.” Journal of
Management 27(6): 625-641. (A)
bSpecht, P. H. (1993). “Munificence and carrying capacity of the environment and organizational
carrying capacity.” Entrepreneurship Theory and Practice 17(2): 77-87. (B)
Eisenhardt, K. (1989). “Agency theory: An assessment and review.” Academy of Management
Review 14(1): 57-74. (A)
Hayton, J. C., G. George, et al. (2002). “National culture and entrepreneurship: A review of
behavioral research.” Entrepreneurship Theory and Practice 26(4): 33-52. (C)
Class 11 – Information Economics
Akerlof, G. A. (1970). “The market for lemons: Quality uncertainty and the market mechanism.”
Quarterly Journal of Economics 84(3): 488-500. (A)
Spence, M. (1973). “Job market signaling.” Quarterly Journal of Economics 87(3): 355-374. (A)
Deutsch, Y. and T. W. Ross (2003). “You are known by the directors you keep: Reputable directors
as a signaling mechanism for young firms.” Management Science 49(8): 1003-1017. (C)
Class 12 – Communications
Strunk, W. and E. B. White, (1918) “The Elements of Style.” Various reprint editions are available
in most libraries, and online via the instructor‟s website. (A)
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POLICIES AND COURSE PRACTICES
Course Management
Every effort will be made to manage the course as stated. However, adjustments may be necessary
during the term at the discretion of the instructor. If so, students will be advised, and alterations will be
discussed prior to implementation in class and through an announcement on Blackboard.
Students are encouraged to review the Ryerson Senate course management policy which provides a
framework of common understanding for students, faculty and staff concerning the structures,
processes, objectives, and requirements that pertain to Ryerson undergraduate courses. For more
detailed information refer to Policy #145: Course Management Policy at
www.ryerson.ca/senate/policies/ .
All communication about the course or material related to the course will be posted on the Blackboard
course site. In addition, all student study resources can be accessed through Blackboard. Students are
expected to check the site regularly for updates.
Academic Consideration
Students must submit assignments on time. Failure to do so results in the penalty established within
this course outline. There will be no penalty for work missed for a justifiable reason with proper and
timely documentation.
Students need to inform the instructor of any situation that arises during the semester that may have an
adverse affect on their academic performance and request any necessary considerations according to
the policies and well in advance. Failure to do so will jeopardize any academic appeals.
Medical certificates –If a student is going to miss a deadline for an assignment, a test or an
examination because of illness, he/she must submit a medical certificate (see
www.ryerson.ca/senate/forBMS/medical.pdf for the certificate) to the instructor within 3 working days
of the missed assignment deadline, test or examination.
Religious, Aboriginal and Spiritual Observance - Requests for accommodation of specific religious
or spiritual observance must be presented to the instructor no later than two weeks prior to the conflict
in question (in the case of final examinations within two weeks of the release of the examination
schedule). In extenuating circumstances this deadline may be extended. If the dates are not known well
in advance because they are linked to other conditions, requests should be submitted as soon as
possible in advance of the required observance. If a student needs accommodation because of religious
observance, he/she must submit a formal request to the instructor within the first two weeks of the class
or for a final examination within 5 working days of the posting of the examination schedule. See
Policy#150: Accommodation of Student Religious Observance Obligations at
www.ryerson.ca/senate/policies/ .
Students with disabilities - In order to facilitate the academic success and access of students with
disabilities, these students should register with the Access Centre. See www.ryerson.ca/accesscentre/.
Before the first graded work is due, students should also inform their instructor through an
“Accommodation Form for Professors” that they are registered with the Access Centre and what
accommodations are required.
Regrading or recalculation – These requests must be made to the instructor within 10 working days of
the return of the graded assignment to the class. These are not grounds for appeal; they are matters for
discussion between the student and the instructor.
Other valid reasons must be approved by the instructor in advance. If you do not have a justifiable
reason for an absence, you will not be given credit or marks for the work missed during that absence.
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For more detailed information on these issues, refer to Policy #134: Undergraduate Academic
Consideration and Appeals at www.ryerson.ca/senate/policies/ .
Students who miss a test or examination for a justifiable reason may be given an opportunity to write a
makeup test or examination on a designated day in a designated location to be determined by the
instructor. The format of make-up tests and examinations may differ substantially from regular
examinations.
Academic Integrity
Plagiarism is a serious academic offence and penalties range from zero in an assignment all the way to
expulsion from the university. In any academic exercise, plagiarism occurs when one offers as one‟s
own work the words, data, ideas, arguments, calculations, designs or productions of another without
appropriate attribution or when one allows one‟s work to be copied.
It is assumed that all examinations and work submitted for evaluation and course credit will be the
product of individual effort, except in the case of team projects arranged for and approved by the
course instructor. Submitting the same work to more than one course, without instructors‟ approval, is
also considered plagiarism.
Students are strongly encouraged to visit the Academic Integrity Website at
www.ryerson.ca/academicintegrity for more detail and to refer to Policy #60: Student Code of
Academic Conduct (Effective 2009) at www.ryerson.ca/senate/policies/ .
Standard for Written Work
Students are expected to use an acceptable standard of business communication for all assignments.
Students are encouraged to obtain assistance from the Writing Centre (www.ryerson.ca/writingcentre)
for help with written communications as needed.
For proper citation and style guides visit the Ryerson Library website at
www.ryerson.ca/library/subjects/style/index.html
Maintaining a Professional Learning Environment
During class time, except in emergency situations, laptop computers, cell phones and other electronic
devices may only be used for academic activities (e.g., note-taking, class presentations). Students not
complying with this requirement may be asked to leave the class.
See Policy #61: Student Code of Non-Academic Conduct at www.ryerson.ca/senate/policies/
Examinations
During examinations, students must display their Ryerson photo ID cards. All electronic devices, such
as cell phones and mp3 players are prohibited. Students are also not permitted to wear hats or to have
food or drink (unless it is in a clear container with no label).
For more detailed information on examination policies, refer to Pol#135: Examination Policy at
www.ryerson.ca/senate/policies/.
Academic Grading Policy
Evaluation of student performance will follow established academic grading policy outlined in Policy
#46: Policy on Undergraduate Grading, Promotion, and Academic Standing (also known as “the GPA
Policy”) at www.ryerson.ca/senate/policies/.
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