380829: Establishing a Successful Business
- Summer 2021
- Section 1
- 4 Credits
- 06/22/2021 to 08/31/2021
- Modified 05/27/2021
The key to reducing the risks and increasing the chances of success in business is to develop a business model that delivers unique value. To accomplish this, you must be able to objectively analyze the competitive landscape and innovate and articulate your unique value, so you can implement a strategy and anticipate the financial rewards. This course examines the essential elements of success. Designed for business owners, key executives, managers, and those developing a business, the course teaches participants how to define a business model and strategy that equips their company to thrive, even in intensely competitive industries. Topics include competitive analysis, creating and defining a unique selling advantage, identifying the customer, and honing a strategy. Real-world situations are used for examples of application. Participants leave with the tools to develop a business model and strategy that creates value and allows them to work on their business instead of for their business.
The course aims to provide some ‘real world’ examples of effective development and implementation of these. Instruction also introduces several tools and techniques that will bring structure to brainstorming, aid development and allow better decision-making.
The end product is an understanding and a series of examples that can be used in the development of your own business model and strategy. At the end of the 11 weeks, each student should have identified their target market, defined a unique value proposition that will differentiate them from their competition.
Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant
- Author: W. Chan Kim, Renne A. Mauborgne
- Publisher: Harvard Business Press
- Edition: Any Edition
- ISBN: 9781625274496
Knowing a Winning Business Idea When You See One
- Author: W. Chan Kim, Renee A. Mauborgne
- Publisher: Harvard Business Press
- ISBN: 9780875840055
Available for download or hard copy at http://harvardbusinessonline.hbsp.harvard.edu
Creating New Market Space
- Author: W. Chan Kim and Renee Mauborgne
- Publisher: Harvard Business Press
- ISBN: 9780875849911
Available for download or hard copy at http://harvardbusinessonline.hbsp.harvard.edu
- Exercises are exploration of the lessons and lectures of the critical areas of developing a business. The exercise will be a guided discovery to help you develop a deeper understanding, and to get you started in the direction of finding your own answers. It will be your responsibility to locate and refine the information into clear and concise summaries. I expect you to provide as much information as possible in the least amount of words. You then will be expected to post your findings in the appropriate discussion board for the class to share. This allows your fellow students to quickly review your findings. We will also review these as a group in our next class meeting. Note, these exercises will not be specific to your business. (worth 24 points)
- Value Strategy and Unique Value Proposition are the central components of business development. Note, these are specifically related to your business. You will use the lessons and your observations from the exercises to assist you in the assignments that focus on your own business. (worth 35 points)
- The Final Project will be a two-minute presentation of your value strategy, supported by a 4 slide deck. Note, this also is specifically related to your business. (worth 20 points)
The assignments and final project are a cumulative portfolio project where you iterate to a refined presentation for the final presentation. Complete all of the assignments and exercises on time and participate on a regular basis, and you should be well prepared for your final project with only a limited amount of time and organization required to complete it. You are expected to attend the lessons, complete the exercises and share your findings with the class so all may benefit from each participants findings.
The evaluation of the exercises, assignments and final project are mostly subjective.
4 qualities are considered:
Research - focused research with reliable sources
Definition - clear and concise explanations
Organization - good structure, flow and clarity
Presentation - coherent articulation and illustration of key points
|Assignment #1||20%||Value Strategy|
|Assignment #2||15%||Unique Value Proposition|
90-100 = A
80-89 = B
70-79 = C
Below 70 = F
Please note that ALL COURSE GRADES ARE FINAL.
Each student is expected to participate in discussions by sharing their findings from exercises, following up on requests for more information, asking questions and commenting. A total of 21 points may be earned by regular participation in the discussions.
The assignments and final project are implementation of the tools and techniques learned in the lessons and exercises for your own business. The assignments account for 35 points and the final project 20 points for a total of 55 points, thus about half of your grade.
You are expected to read the text and lessons, participate in the discussions, as well as complete all exercises, assignments and the final project. Please note that all of the areas outlined above in the grading have a significant impact on your final grade.
In summary, students are expected to:
- Actively participate in class discussions
- Complete all readings and homework as assigned
- Be on time
- Communicate respectfully to instructors and fellow classmates
- Utilize professional level English in presentations and written assignments
Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or theft or misuse of the intellectual property of others or violation of others' copyrights. Students are encouraged to familiarize themselves with policy provisions which proscribe these and other forms of misconduct at: https://www.uclaextension.edu/pages/str/studentConduct.jsp
Services for Students with Disabilities
In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Office for Students with Disabilities at (310) 825-0183 or by email at [email protected]. For complete information see: https://www.uclaextension.edu/pages/str/studentswithDisabilities.jsp
Your instructor may post the interim grade Incomplete/I if at the end of the class your overall work is of passing quality but a portion could not be submitted for understandable reasons (e.g. illness). It is your responsibility to petition your instructor for permission to submit work late and to provide an explanation, and it is his or her sole decision whether to accept the explanation. If permitted, the Incomplete/I grade will be posted and a time frame defined for you to submit the missing work, ranging from one to twelve weeks. Incomplete/I grades that remain unchanged after twelve weeks will lapse to F, NP or U. Receiving an I grade entitles you to submit only the missing work your instructor has agreed to accept late, and does not allow other work to be retaken or oblige UCLA Extension to provide continuing access to course materials via Canvas. The Incomplete/I grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses. For complete information, see: https://www.uclaextension.edu/pages/str/grading.jsp
All Grades are Final
No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.
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All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, Suite 113, 10995 Le Conte Ave., Westwood; Voice/TTY: (310) 825-7031. View the University’s full Policy on Sexual Harassment and Sexual Violence at http://policy.ucop.edu/doc/4000385/SHSV.
Protecting Privacy and Data During Live Instruction
Live meeting sessions for this class, when applicable, are being conducted over Zoom. As the host, the instructor may be recording live sessions. Only the host has the ability to record meetings, no recording by other means is permitted. Recorded sessions will be posted in the Videos area of this class unless otherwise notified. Due to privacy, recordings are not available for download and are only accessible via Canvas for the duration of the class. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video and/or audio. If you also prefer to use a pseudonym instead of your name, please let the instructor know what name you will be using so that the instructor knows who you are during the session. To rename yourself during a Zoom meeting, click on Participants, click on your name, click on More, click on Rename. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to the instructor only (and not to ""everyone""). Additionally, chat may be used and moderated for live questions, and saving of chats is enabled. If you have questions or concerns about this, please contact the instructor via Canvas Inbox.
Pursuant to the terms of the agreement between Zoom and UCLA Extension, the data is used solely for this purpose and Zoom is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, recordings may become part of an administrative disciplinary record if misconduct occurs during a video conference.
Course and Instructor Evaluation
UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.
Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.
About Your Online Course Materials
Please note the following about online course components at UCLA Extension:
- Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
- Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
- What are the basic computer specifications for Canvas? https://guides.instructure.com/m/4214/l/82542-what-are-the-basic-computer-specifications-for-canvas
- Which browsers does Canvas support? http://guides.instructure.com/s/2204/m/4214/l/41056-which-browsers-does-canvas-support
- Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
- Students are encouraged to keep and/or download a local copy of their assignment files, as access to the online environment of a specific course is limited to 30 days after the final course date, as listed in the course catalog.
If you need assistance downloading student materials from your course, please contact Canvas Support or the Office of Instructional Enhancement.
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UCLA Extension Instructional Design and Learning Support
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.
Learning Support staff is available Monday through Friday, from 8 AM to 5 PM (Pacific Time), except holidays:
Campus Safety Escorts
For students taking classes held on the UCLA campus and in and around Westwood Village, the UCLA Police Department provides a free walking escort service every day of the year from dusk until 1 a.m. Community Service Officers (CSOs) are available to walk students, faculty, staff members and visitors to and from anywhere on campus, in Westwood Village, and in the village apartments. CSOs are uniformed students who have received special training and are employed by the UCLA Police Department. To obtain an escort, please call (310) 794-9255 and allow 15 to 20 minutes for your escort to arrive. For complete information, see: https://www.ucpd.ucla.edu/services/community-service-officers-csos/evening-escorts
Introduction, Essential Elements of Success Lesson, Discussion Technique Lesson, Research Lesson
Chapter 1, Pages 3 - 22 of BOS
||Creating Uncontested Market Space||
Creating Uncontested Market Space Lesson
Chapter 2, Pages 23 - 44 of BOS
||Analyzing the Competition/Alternatives||
Analyzing the Landscape Lesson
Chapter 3, Pages 47 - 80 of BOS
||Creating Unique Value||
Creating Unique Value Lesson
Exercise #4, Assignment #1
Chapters 3, Pages 47 - 80 of BOS
||Creating Unique Value (cont.)||
Creating Unique Value Lesson (cont.)
Exercise #5, Complete Assignment #1
Chapter 5, Pages 81-99 of BOS
||Assignment #1 Review||
Assignment #1 Review
Chapter 6, Pages 117 - 125 of BOS
Unique Value Proposition Lesson
Exercise #6 & #7, Assignment #2
Chapter 6, Pages 125 - 137 of BOS
Pricing and Costing Lesson
Exercise #8, Final Project Instructions
Note: Lesson and Discussion are completely online this week
||Assignment #2 Review||
Assignment #2 Review
Chapter 6 - 8, Pages 137 - 184 of BOS
Complete Final Project
||Final Project Review||
Final Project Review