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ENTR 430: Entrepreneurship and New Product Development

ENTR 430 (3) examines the process of designing, testing, and launching new products, and developing a strategy for commercialization of the product.

Overview

This course is focused on the skills required to create and introduce new products as well as manage the new product development process. This includes themes related to organizing and leading a product development team, developing techniques related to idea generation and screening, assessing market needs and customer expectations, constructing a two-dimensional design and three-dimensional prototype based on determined requirements, conducting a thorough business analysis, branding the product with consideration of marketing and advertising strategies, and crafting plans for distribution and commercialization. The course also provides experiences related to user testing and focus groups, key components in the development of a new product.

Students are expected and strongly encouraged to approach coursework from the perspective of their current entrepreneurial experience. Some are looking for inspiration and validation, while others are in development, production, or distribution of a product. Our goal for this course is to provide an experience that will help you further develop your product regardless of its current status. During the first week, students will be introduced to all expectations of the course.

From an educational perspective, this course emphasizes problem-based learning so that students can be actively engaged in the learning process. The most significant challenge for students beyond completing the course assignments is doing so while working in teams that must collaborate on a real project that involves the design of a new product.

Course Objectives

Upon successful completion of this course, you should be able to do the following:

Experience the totality of the work involved in successfully creating and introducing a new product.

Understand and experience what is required to be a member or manager of a successful new product development team.

Establish and manage a creative and innovative environment.

Understand failure and its role in refining new ideas and entrepreneurship.

Required Course Materials

Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page (http://student.worldcampus.psu.edu/course-work-and-success/cours e-materials-and-library-services/course-materials) . You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.

Library Resources

This course requires that you access Penn State library materials specifically reserved for this course. You can access these materials by selecting Library Resources in your course navigation, or by accessing the Library E-Reserves Search (ht tps://guides-libraries-psu-edu.ezaccess.libraries.psu.edu/er.php?b=c) and search for your instructor's last name.

Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can

access magazine, journal, and newspaper articles online using library databases;

borrow materials and have them delivered to your doorstep—or even your desktop;

get research help via email, chat, or phone using the Ask a Librarian service; and

much more.

You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service. The Off-Campus Users page (https://libraries.psu.edu/world) has additional information about these free services.

Technical Requirements

Technical Requirements

Operating System

Penn State's LMS, Canvas, supports most recent versions of Microsoft Windows and Apple Mac operating systems.

To determine if your operating system is supported, please review the Canvas Computer Sp ecifications (https://community.canvaslms.com/docs/DOC-2059) .

Hardware

For a list of required computer hardware specifications and internet speed, please review the Canvas Computer Specifications (https://community.canvaslms.com/docs/DOC-2059) .

Browser

Canvas supports the last two versions of every major browser release. We highly recommend updating to the newest version of whatever browser you are using.

To determine if your browser is supported, please review the list of Canvas Supported Brow sers (https://community.canvaslms.com/docs/DOC-1284) .

Please note that due to Instructure's reduction of support for Internet Explorer, students and instructors should choose another browser to use such as Firefox, Chrome, Edge, or Safari.

Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites.

Additional Software

All Penn State students have access to Microsoft Office 365 (https://student.worldcampus.psu.edu/ course-work-and-success/technology-and-software/software) , including Microsoft Office applications such as Word, Excel, and PowerPoint.

Students will need Adobe Acrobat, available through Adobe Creative Cloud (https://softwarereq uest.psu.edu/Home/Index) .

Sound Card, Microphone, and Speakers

Required

Monitor

Capable of at least 1024 x 768 resolution

Mobile Device

The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App R equirements (https://community.canvaslms.com/docs/DOC-1542) .

As a Penn State student, you have access to LinkedIn Learning (https://linkedinlearning.psu.edu/) , your one-stop shop for video tutorials on Illustrator, Dreamweaver, Photoshop, Access, Excel, PowerPoint, and countless other topics—all free to active Penn State faculty, staff, and currently enrolled students. Take tutorials to help with coursework, learn techniques for your own projects, and boost your résumé with tech skills.

If you need technical assistance at any point during the course, please contact the Service Desk (https://www.it.psu.edu/support/) .

For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Stud ent Services (https://student.worldcampus.psu.edu/) !

Course Requirements and Grading

Assignment                                                                             Points

Individual assignments                                                              220

Team assignments                                                                    400

Weekly Progress Reports (12) and Peer Evaluations (2)                  80

Total possible points                                                                  700

Letter grades will be based on the following scale:

Letter grade                  Percentage

A                                    93.0–100%

A-                                  90.0–92.99%

B+                                 87.0–89.99%

B                                   83.0–86.99%

B-                                  80.0–82.99%

C+                                 77.0–79.99%

C                                    70.0–76.99%

D                                   60.0–69.99%

F                                    0.0–59.99%

The numeric course grades are the actual grades required to earn the accompanying letter grades. Students should not expect any rounding of the numeric course grades.

Assignments

This course is comprised of several individual assignments and a team assignment that spans most of the class.

Individual Assignments

While the majority of work done in this course will be focused on the team project and development of a new product, individual assignments include journal writing, contributions to module commentary, weekly progress reports, and peer evaluations. Additional detail about the individual assignments will be given during Module 0, the First Week Module. A project reflection and analysis paper will also be done individually at the end of the course.

Journal entries will be graded in the following manner:

2 points will be awarded based on responses to each of the four prompts (8 points total).

2 points will be awarded for using direct references to module commentary.

Project Reflection and Analysis

This assignment is found at the end of the course. In this paper, you will be asked to discuss the significance of lessons learned throughout the team project and identify how each lesson learned can be applied to current or future entrepreneurial pursuits. A rubric for this assignment can be found in the Project Reflection and Analysis assignment found in Module 9, the Last Week Module.

Team Assignments

Additional detail about team assignments, particularly the team project, will be given during Module 0, the First Week Module. The course modules follow the new product development process and align with a set of requirements for the team project. As the team progresses through the modules, the documentation requirements will accompany the text and video commentary introduced. The documentation is not a business plan; however, much of what is included in this documentation can be transferred to a business plan.

Documentation

Refer to the gradebook for point values of each module documentation requirement. Entrepreneurs are rarely given a rubric of expectations when completing business and marketing plans. Therefore, documentation submissions will be graded without a formal rubric but with the following points of emphasis:

All prompts are addressed appropriately; all submissions are completed with thorough, clear, and cohesive ideas.

All primary and secondary research conducted is thorough and meaningful.

Primary and secondary research are clearly illustrated in strategies proposed.

Written work flows among sections of the documentation, which may require the team to revisit or rewrite previous submissions.

Written submissions demonstrate reasonable assumptions or recommended strategies for implementation.

Written submission demonstrates a clear grasp of standard writing conventions. Errors are minimal to nonexistent, with nothing impeding understanding by distracting the reader.