Description
With this brief paper regarding seeking to improve the success of entrepreneurial ventures worldwide.
Copyright ©President & Fellows of Harvard College
The Entrepreneurial Management Unit
Seeking to Improve the Success of Entrepreneurial Ventures Worldwide
A Presentation by J osh Lerner, Unit Head
The Evolution of Entrepreneurship at HBS
2
1946: Myles Mace launches new HBS elective course
entitled “Starting New Ventures”
1995: Entrepreneurial Management Unit is formed under
leadership of Howard Stevenson
1997: 1st HBS Business Plan Contest
2000: The Entrepreneurial Manager (TEM) required
curriculum course is launched
2002: Venture Capital and Private Equity becomes the first
of several EM Unit MBA elective “platform courses”
2003: Arthur Rock donates an unprecedented $25 million
gift to support entrepreneurial studies.
2004: Rock Entrepreneur-in-Residence program launched
2010: Alumni New Venture Contest & Rock Accelerator are
launched
2011: Harvard Innovation Lab (iLab) opens
2012 RC FIELD launched, including F3 “launch a business”
module
Superior Research, Teaching, and Course Development
3
• 28 Faculty (7 junior, 9 senior, 12 practitioners)
• The Entrepreneurial Manager – First-year required class explores how
executives should approach making critical decisions during the different
phases of an entrepreneurial company’s life.
• 12 Elective Curriculum Courses.
• 11 EM-Led Executive Education Programs, including flagship Owners-
Presidents Management program.
• Over 60 J ournal Articles, Working Papers, and Books published 2013-2014.
“…a general management perspective and deep knowledge
of how to build and grow businesses.”
Required Course
The Entrepreneurial Manager (TEM)
How individuals convert knowledge, aspiration, and insight into action
4
We explore how executives should approach making critical decisions
during the different phases of an entrepreneurial company's life.
Students are given the opportunity to hone their skills:
• Identifying and testing business opportunities.
• Decomposing complex business problems.
• Determining what decisions the responsible business executive must make.
• And establishing a ‘burden of proof’ standard for making those decisions
Students are introduced to a range of specific tools—including
business model design, lean testing, and customer and channel
analytics—that are particularly relevant to entrepreneurs. Students are
also introduced to the fundamentals of entrepreneurial finance and
governance.
2014 – 2015 Classes
5
Units Prof(s) Course Name No.
EM EC Hamermesh Building Life Science Businesses 1665
EM, FIN EC Sahlman, Nanda Entrepreneurial Finance 1624
EM EC Higgins Entrepreneurship in Healthcare IT and Services 1666
EM EC Eisenmann Field Course: Product Management 101 6701
EM EC Wasserman Founders' Dilemmas 1676
EM, TOM,
FIN
EC
Macomber,
Henderson, Lassiter
Innovation in Business, Energy, and Environment 1165
MKT, EM EC Cespedes Business Marketing and Sales 1929
Units Prof(s) Course Name No.
EM RC Teaching Group The Entrepreneurial Manager (TEM)
EM EC Bussgang Launching Technology Ventures 1755
EM EC Eisenmann Field Course: Launching Technology Ventures 6750
EM EC Khaire Entrepreneurial Leadership in Creative Industries 1636
EM EC Rhodes?Kropf Venture Capital and Private Equity 1428
EM EC Nicholas The Coming of Managerial Capitalism: The United States 1122
EM Doctoral Kerr & Lerner Theoretical and Emprirical Perspectives on Entrepreneurship 4350
Fall 2014
Winter 2015
6
Research That Has An Impact
J oan Farre-Mensa
7
• "Comparing the Investment Behavior of Public and
Private Firms," (with New York University's J ohn Asker
and Alexander Ljungqvist):
• Looks at quarter million financial statements of private firms
compiled by Sageworks.
• Documents that private firms…
• Invest more than twice as much in capital expenditures and
acquisitions than public firms.
• Are 3.5x more responsive when investing to changing economic
conditions.
• Suggests that being publicly traded induces “myopic behavior.”
Teresa Amabile
8
• IDEO’s Culture of Helping (HBR, J an-Feb 2014)
• How to encourage “Citizenship Behavior” where employees engage in “effective
mutual help”
• Leaders Participate, giving and seeking help themselves
• Safe Environment: No shame in asking for help, in fact it’s encouraged
• What Makes an IDEO Colleague Most Helpful?
• Accessibility (How easy it is to obtain help from the other)
• Competence (How well a person does his/her job)
• Trust (How comfortable employee is sharing feelings with the other)
• Part of a decades-long research agenda on innovation and organization
structure.
9
• Skilled Immigration and the Employment Structures of US
Firms (with Sari P. Kerr of Wellesley College and William
F. Lincoln of J ohns Hopkins University):
• Immigrants represent 24% of innovation jobs today in U.S.:
• Bitter debate about wisdom of policy.
• Looks at how H1-B program affected 319 technology firms:
• Hiring a skilled immigrant leads one addition skilled job for native.
• Creates additional opportunities.
• Burt also leads to reduced share of workers over 40…
• Growing, but more slowly than others.
William Kerr
Tom Eisenmann
10
• Compilation Of The Best Blog Posts On Technology
Startup Management covering a wide range of topics:
• Lean Startup
• Business Models
• Customer Discovery and Validation
• Marketing: Demand Generation and Optimization
• Sales, Marketing, and PR Management
• Product Management/Product Design
• Business Development and Scaling
• Funding Strategy
• Company Culture, Organizational Structure, Recruiting,
and Other HR Issues
• Startup Failure
• Exiting by Selling Your Company
• The Startup Mindset and Coping with Startup Pressures
• Management and Career Advice
Research to Empower Entrepreneurs
• Multi-Disciplinary: Representing economics, finance, management,
sociology, history, psychology, organizational behavior, government and
policy, mathematics, and engineering.
• Strong ties with the National Bureau of Economic Research (NBER) and
the Kauffman Foundation.
• Strong discipline-based researchers and business practitioners.
• Through the Rock Center we have been able to provide an integrative
learning experience for students and outreach to alumni.
11
Josh Lerner
Unit Head
Rock Center for Entrepreneurship
Harvard Business School
Boston, MA 02163
1-617-495-6065
josh @ hbs.edu
www.people.hbs.edu/jlerner
@joshlerner
doc_101257163.pdf
With this brief paper regarding seeking to improve the success of entrepreneurial ventures worldwide.
Copyright ©President & Fellows of Harvard College
The Entrepreneurial Management Unit
Seeking to Improve the Success of Entrepreneurial Ventures Worldwide
A Presentation by J osh Lerner, Unit Head
The Evolution of Entrepreneurship at HBS
2
1946: Myles Mace launches new HBS elective course
entitled “Starting New Ventures”
1995: Entrepreneurial Management Unit is formed under
leadership of Howard Stevenson
1997: 1st HBS Business Plan Contest
2000: The Entrepreneurial Manager (TEM) required
curriculum course is launched
2002: Venture Capital and Private Equity becomes the first
of several EM Unit MBA elective “platform courses”
2003: Arthur Rock donates an unprecedented $25 million
gift to support entrepreneurial studies.
2004: Rock Entrepreneur-in-Residence program launched
2010: Alumni New Venture Contest & Rock Accelerator are
launched
2011: Harvard Innovation Lab (iLab) opens
2012 RC FIELD launched, including F3 “launch a business”
module
Superior Research, Teaching, and Course Development
3
• 28 Faculty (7 junior, 9 senior, 12 practitioners)
• The Entrepreneurial Manager – First-year required class explores how
executives should approach making critical decisions during the different
phases of an entrepreneurial company’s life.
• 12 Elective Curriculum Courses.
• 11 EM-Led Executive Education Programs, including flagship Owners-
Presidents Management program.
• Over 60 J ournal Articles, Working Papers, and Books published 2013-2014.
“…a general management perspective and deep knowledge
of how to build and grow businesses.”
Required Course
The Entrepreneurial Manager (TEM)
How individuals convert knowledge, aspiration, and insight into action
4
We explore how executives should approach making critical decisions
during the different phases of an entrepreneurial company's life.
Students are given the opportunity to hone their skills:
• Identifying and testing business opportunities.
• Decomposing complex business problems.
• Determining what decisions the responsible business executive must make.
• And establishing a ‘burden of proof’ standard for making those decisions
Students are introduced to a range of specific tools—including
business model design, lean testing, and customer and channel
analytics—that are particularly relevant to entrepreneurs. Students are
also introduced to the fundamentals of entrepreneurial finance and
governance.
2014 – 2015 Classes
5
Units Prof(s) Course Name No.
EM EC Hamermesh Building Life Science Businesses 1665
EM, FIN EC Sahlman, Nanda Entrepreneurial Finance 1624
EM EC Higgins Entrepreneurship in Healthcare IT and Services 1666
EM EC Eisenmann Field Course: Product Management 101 6701
EM EC Wasserman Founders' Dilemmas 1676
EM, TOM,
FIN
EC
Macomber,
Henderson, Lassiter
Innovation in Business, Energy, and Environment 1165
MKT, EM EC Cespedes Business Marketing and Sales 1929
Units Prof(s) Course Name No.
EM RC Teaching Group The Entrepreneurial Manager (TEM)
EM EC Bussgang Launching Technology Ventures 1755
EM EC Eisenmann Field Course: Launching Technology Ventures 6750
EM EC Khaire Entrepreneurial Leadership in Creative Industries 1636
EM EC Rhodes?Kropf Venture Capital and Private Equity 1428
EM EC Nicholas The Coming of Managerial Capitalism: The United States 1122
EM Doctoral Kerr & Lerner Theoretical and Emprirical Perspectives on Entrepreneurship 4350
Fall 2014
Winter 2015
6
Research That Has An Impact
J oan Farre-Mensa
7
• "Comparing the Investment Behavior of Public and
Private Firms," (with New York University's J ohn Asker
and Alexander Ljungqvist):
• Looks at quarter million financial statements of private firms
compiled by Sageworks.
• Documents that private firms…
• Invest more than twice as much in capital expenditures and
acquisitions than public firms.
• Are 3.5x more responsive when investing to changing economic
conditions.
• Suggests that being publicly traded induces “myopic behavior.”
Teresa Amabile
8
• IDEO’s Culture of Helping (HBR, J an-Feb 2014)
• How to encourage “Citizenship Behavior” where employees engage in “effective
mutual help”
• Leaders Participate, giving and seeking help themselves
• Safe Environment: No shame in asking for help, in fact it’s encouraged
• What Makes an IDEO Colleague Most Helpful?
• Accessibility (How easy it is to obtain help from the other)
• Competence (How well a person does his/her job)
• Trust (How comfortable employee is sharing feelings with the other)
• Part of a decades-long research agenda on innovation and organization
structure.
9
• Skilled Immigration and the Employment Structures of US
Firms (with Sari P. Kerr of Wellesley College and William
F. Lincoln of J ohns Hopkins University):
• Immigrants represent 24% of innovation jobs today in U.S.:
• Bitter debate about wisdom of policy.
• Looks at how H1-B program affected 319 technology firms:
• Hiring a skilled immigrant leads one addition skilled job for native.
• Creates additional opportunities.
• Burt also leads to reduced share of workers over 40…
• Growing, but more slowly than others.
William Kerr
Tom Eisenmann
10
• Compilation Of The Best Blog Posts On Technology
Startup Management covering a wide range of topics:
• Lean Startup
• Business Models
• Customer Discovery and Validation
• Marketing: Demand Generation and Optimization
• Sales, Marketing, and PR Management
• Product Management/Product Design
• Business Development and Scaling
• Funding Strategy
• Company Culture, Organizational Structure, Recruiting,
and Other HR Issues
• Startup Failure
• Exiting by Selling Your Company
• The Startup Mindset and Coping with Startup Pressures
• Management and Career Advice
Research to Empower Entrepreneurs
• Multi-Disciplinary: Representing economics, finance, management,
sociology, history, psychology, organizational behavior, government and
policy, mathematics, and engineering.
• Strong ties with the National Bureau of Economic Research (NBER) and
the Kauffman Foundation.
• Strong discipline-based researchers and business practitioners.
• Through the Rock Center we have been able to provide an integrative
learning experience for students and outreach to alumni.
11
Josh Lerner
Unit Head
Rock Center for Entrepreneurship
Harvard Business School
Boston, MA 02163
1-617-495-6065
josh @ hbs.edu
www.people.hbs.edu/jlerner
@joshlerner
doc_101257163.pdf