Using Generative AI for Entrepreneurship and Innovation

INSTRUCTOR: Minder Chen, Ph.D.,
Professor of MIS, CSU Channel Islands,
Email: minder.chen@csuci.edu

REREQUISITES: Sufficient English language ability to follow lectures and to participate in class discussion

METHODS OF INSTRUCTION: Lectures, cases analysis, and group discussion and project.

Course Website: https://minderchen.cikeys.com/innovate/

Course Description

This course provides an in-depth analysis of innovation in business and IT in the context of entrepreneurial management. We will evaluate the basic framework of entrepreneurship and the necessary characteristics of the successful entrepreneurs. Theories, issues, methods, and tools for improving creativity and innovation will be explored. Human-centered Design Thinking approach to creating technology viable and business feasible startups will be introduced. Business Model Canvas will be used to document and evaluate the validity of a startup. Lean Startup approach aims to shorten product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning will be used. Students will learn how to use Lean Startup’s Customer Development Model to test, develop, and scale innovative ideas into a successful startup company. Emerging technologies and trends in areas such as mobile computing and e-commerce will be discussed as enablers of business innovation. Several case studies will be used to facilitate course discussion.

Reference Book(s):

1. Class Participation/Attendance and Individual Assignment: 10%
2. Group Project: 40% (Group Project Requirements)
3. Examinations: 50%

Schedule

Monday, Wednesday, & Friday (Beijing Time 8:00-11:30am)

Date	Topics
Unit 1 7/11	Introduction to Entrepreneurship and Entrepreneurs (*slides)
Unit 2 7/13	Business Model Innovation and Business Model Canvas (**slides) Creativity (slides) and Design Thinking (**slides)
Unit 3 7/15	E-Commerce (**slide) McDonald Case Study (*slide) Web 2.0 (slide)
Unit 4 7/18	Value Proposition Design (*slide-final) Customer Development Model (*slides)
Unit 5 7/20	Lean Startup (**slide-final) Market Size and Market Type (*slides) TitanTech (slide)
Unit 6 7/22	Persona (*slides) Growth Hacking (*slide) Business Plan (slides)
Unit 7 7/25	Startup Business Strategy (slides)  Startup Financing (*slides)  Innovation (slides)
Unit 8 7/27	Group Project Presentation Final Exam

Group Project Requirements

1. Group Project Requirement (link)

Video Class Resources

1. Steve Blank Videos on Startup https://www.udacity.com/course/how-to-build-a-startup–ep245
2. How to Start a Startup  (Stanford)

Readings

Unit 1

1. Infographics of Effectuation Principles and Process Actions (link)
2. Saras D. Sarasvathy, “Causation and Effectuation: Toward a Theoretical Shift from Economic Inevitability to Entrepreneurial Contingency Actions”, (link)
3. Timmons Model of Entrepreneurial Process (link)
4. Information as Resource (pdf)

Unit 2

1. Rent the Runway: An inside look at the tech startup’s success (YouTube video)
2. Business Model Canvas: From Idea to Business – Animated Series (6 EPs) https://www.youtube.com/watch?v=wwShFsSFb-Y&list=PLBh9h0LWoawphbpUvC1DofjagNqG1Qdf3
3. Brown, Tim, “Design Thinking,” Harvard Business Review. June 2008, Vol. 86 Issue 6, pp. 84-92. (link)
4. Circle Test (pdf)
5. **IDEO Shopping Cart Project (video on Youku.com) or (video on YouTube)
6. **Owlet Baby Care: New Way to Work Final Pitch (https://www.youtube.com/watch?v=f-8v_RgwGe0 or https://vimeo.com/84423056)

Unit 4

1. Steve Blank, The Four Steps to the Epiphany, Fifth Edition K & S Ranch Inc. Publisher, 2013. (For the first three chapters of the 2nd edition: http://web.stanford.edu/group/e145/cgi-bin/winter/drupal/upload/handouts/Four_Steps.pdf )

Unit 5

1. The Power Law of the Startup (in Chinese) (link)
2. **Rent the runway case study: Lean Startup Approach (link)
3. Market sizing (link1 & link2)

Unit 6

1. Honest Tea Business Plan (pdf)
2. Writing a business plan from Sequoia Capital (link)
3. Write your business plan – SBA (link)

Unit 7

1. AirBnB Pitch Desk (link)
2. Pitch Deck Template for startups (link)
3. Pitch Deck Samples (link)
4. **Shark Tank & Nasal Screen (**video, video2, link)
5. How Startup Funding Works – Infographic (link)

Group Project Requirements

Group Project Deliverables (40%)

Submission deadline: End of the last class before the final exam (July 27).

Submit a detailed PowerPoint slides covering some of the issues specified in the following.

Deliverables

1. On page one: Project Name, Names of all group members, and web address of the prototype if you are building an app or website. ]
2. One-minute elevator pitch (in one slide)==>Our (Products and/or Service) help (Customer segments) who want to get (Job to be done) by [Reducing/alleviating] (A customer pain) and Increasing (a customer gain) unlike (competing value proposition).
3. Business Model Canvas (link): Describe each of the 9 components in the Business Model using at least one slide each. (Please show at least 3 versions of your evolving/changing business models. Explain the pivots between versions.)
   • **Value Proposition: Describe what products/services to be offered, why your group choose these products/services, and the value that you offers to your customers/users
   • **Customer/market segment: Describe what your target audiences are; what is your beach head market and total addressable market (TAM) size (do some research on market size).
   • *Customer Relationship: Articulate your social networking and/or marketing strategies to acquire and retain (Get, Keep, and Grow) customers
   • *Channel: Online/offline/Online-to-offline (O2O)
   • *Revenue Streams: How do you make money? What is your pricing model?
   • Costs Structures and estimation
   • Key Resources
   • Key Activities
   • Key Partners
4. Create the Value Proposition Design Canvas (link) which includes Value Map and Customer Profile (link)
   • Persona (create 3~5 personas) (link)
   • Job-to-be-done Analysis: Outcome-Driven Innovation (link) & Job Statement Canvas (link)
   • Create Customer Journey Map (link & link2)
5. Describe what you have done in testing the major hypotheses in your business model and how the insights gained from your field tests lead to the revision of your business model to reach better Product Market Fit (PMF)
6. Domain Name (Go to GoDaddy.com and find a meaningful domain name not taken, capture a screen snapshot as a proof)
7. Website Navigation Diagram (link) – if you are building a website or mobile app. 
8. Your internet marketing and growth hacking strategy.
9. Competitive strategies & SWOT analysis: Analyze online and offline competitors and your business strategies to compete with them
10. Describe innovative features such as crowdsourcing, share economy, if any
11. How would you scale up and extend your business?
12. Develop and demonstrate multiple versions of your prototypes. The more realistic the better. Consider using quick prototyping tools listed at the end this document.
13. *Define key metrics for key activities and/or marketing success and describe how you are going to measure your success/performance of your business   (e.g., http://www.alexa.com/  for Web traffic racking tools and Marketing Metrics )
14. Anything else that you think are relevant for you to get funding from VCs or for you to guide the building of your startup company.

Grading criteria:

Each group has about create an online present their project.

1. Presentation slides (40%): As detail as possible, but the group should use only a subset of the slides in their presentation. Make sure the first slides has each member’s full name and web address (URL) of the prototype website.
2. Presentation (40%): Other than some key issues presented in the slides, the group should use different scenarios based on various user’s roles to illustrate the functionality and design of the website via the prototype.
3. Prototypes (20%): It does not need to be fully functional, but the more realistic the better. Spend some of your presentation on the demonstration of the prototype to highlight the useful and innovative features of your website.

Suggested Prototyping Tools for app or website projects

Web Site Prototyping Tools

1. http://Wix.com
2. http://www.Webs.com
3. http://www.weebly.com/
4. https://www.shopify.com/pricing (Shopify is specialized in building e-commerce website)

Mobile Apps Prototyping Tools

• Figma https://www.figma.com/prototyping/
• fluidui.com
• proto.io
• App Maker https://www.appypie.com/app-builder/appmaker
• InVisionApp.com
• justinmind.com/

Presentation & Content Marketing Tools

1. https://www.canva.com/