The Business Model

Happy Labor Day, Entrepreneurship Students! I hope you’re enjoying the unofficial conclusion of the summer vacation season.

It was a pleasure to meet all of you yesterday. Here are some notes to guide our way, as we venture into the semester together.

Last week, we engaged in an introductory discussion about the classic model of accounting and valuation, as codified by Friar Luca Pacioli over five centuries ago. We then time-traveled to our contemporary era and reviewed the Integrated Reporting framework.

Meanwhile, in other courses of our program, you began to identify and explore your own entrepreneurial opportunity. It’s time to integrate our coursework by analyzing that opportunity from a financial perspective.

So how, exactly, will we do that? Let’s proceed a step at a time:

1. We can find the Integrated Reporting framework on page 13 of the guidance document that was published by the International Integrated Reporting Council. A link to the document is included in our course material page entitled Course Information; we’ll begin our session on September 8th with a brief closed-book quiz about the framework.

2. As a homework assignment in advance of September 8th, please begin to apply the Framework to your entrepreneurial opportunity. You are welcome to use any electronic or physical resource to help you do so; during our September 8th session, we will ask you to verbally describe the element(s) of the framework that (in your preliminary opinion) will be most difficult to define within your plan.

Is it too soon to engage in this activity? Perhaps it is! But please give it a shot, and be prepared to share your experience with your classmates.

3. As you may recall, on our course material page entitled Course Information, I included a link entitled Course Slides (Current Edition). Please click on that link and review the slides entitled Course Agenda, The Need for a Managerial Accounting Approach, and A Five Step Planning Process. Then proceed to review the quartet of slides entitled Step 1 – The Business Model.

I actually do NOT expect you to understand most of this content! After all, we have not yet reviewed it in class. Nevertheless, it can’t hurt to flip through those few slides before we review them together.

4. I have prepared another course material page entitled The Business Model. Please click on the six links on that page and lightly skim the content, understanding (once again) that I do not expect you to understand most of the content.

5. As we discussed in class yesterday, given our “classroom without walls” teaching strategy, I will begin to post selected course notes and materials on (both) the University’s internal Blackboard system and an external social media resource. This will enable colleagues from the academic and practitioner communities to contribute their perspectives to our discussion.

6. Finally, I have an administrative requirement to share with you; I need to obtain electronic “signatures” from you regarding our syllabus. Thus, please bring an internet equipped electronic device to class this week.

As you can see, our lives are about to become more interesting! But please don’t worry; we’re embarking on this journey together.  🙂

Click here for the course materials.