Entrepreneurial Finance
Concepts and Cases
Miranda S. Lam, Gina Vega
- 380 Seiten
- English
- ePUB (handyfreundlich)
- Über iOS und Android verfügbar
Entrepreneurial Finance
Concepts and Cases
Miranda S. Lam, Gina Vega
Über dieses Buch
Entrepreneurial Finance: Concepts and Cases addresses issues that are often overlooked in traditional finance textbooks, namely, how to handle the unique financial challenges faced by start-ups and small businesses.
The book is structured around seven modules or building blocks designed to be taught across a full semester with natural break points built into each chapter within the modules. The building blocks present macro-concepts which are explored in greater detail in each of the chapters. A starting chapter provides guidance about the use of cases for students and a concluding chapter delivers information about how to win business plan competitions. Each concept is illustrated by a short case, and followed by thoughtful questions to enhance learning. The cases, previously unpublished, are written by an international group of experienced case writers from the field of finance, and deal with real companies, real problems, and currently unfolding issues. A case teaching manual geared to finance in general, and short cases in particular, is provided for the instructor and includes specific tips, techniques, and activities for each case in the text.
Written for upper level undergraduate students of entrepreneurship, this highly accessible book breaks down complex concepts, and includes hands-on cases and exercises, making learning a breeze!
Häufig gestellte Fragen
Information
Getting Started with Cases
1
Case Preparation and Analysis for Students
Why Are You in this Class?
What to Expect from a Case-Based Class
- You read the assigned case ahead of class. You might consider trying the “three reads model” given in Appendix 1.1.
- Take notes as to the individuals involved, the situations presented, and any connections you can make to theory or analogous characters or situations you have been exposed to before, either in classes or in your work or life experience.
- Identify your assumptions and the information that is missing for you to make a thorough analysis.
- List the problems and select one problem to focus on at a time. Most cases present multiple problems; your ability to identify a key problem will give your case analysis structure and meaning.
- Do any preliminary analysis you can, such as financial comparisons and ratios, statistical analysis or other quantitative exploration. If your analysis is to be qualitative, determine the foundation of your analysis and articulate reasons for and against a strategy or position.
- Write down as many possible recommendations as you can, then select one and commit to it.
- Go to class and get ready for an engaged discussion.
- The instructor may start off with a précis of the case (or ask you to provide one) and then toss out some icebreaker questions—easy questions to get the conversation moving.
- The instructor may continue to toss questions to the group or, depending on personal style, may ask questions or opinions directly of one individual.
- The instructor will tease out a series of analyses, decision-making perspectives, and positions from the class members.
- The class reaches a conclusion, recommendation, decision, or final analysis.
- You may be assigned to a team.
- If you have been assigned to a case team before the classroom discussion, your preparation should take place with this team.
- You can expect a lot of lively discussion during the preparation phase, and you will generally (but not always) come to an agreement before class.
- The class discussion will be between team positions rather than individual positions and will proceed as before.
Hints for success in a case class
- Be prepared.
- Participate actively.
- Allow your emotions to become involved along with your critical analysis.
- Respect your peers’ input.
- Try to understand the alternative perspectives put forth in the classroom.
- If in a team, be a “good” team member—no one likes a free rider.
Two Different Types of Case
Preparing a Written Case Analysis
Decision-based cases | Descriptive or illustrative cases | |
| ||
Description | Decision-based cases will require you to make a reasoned recommendation, supported by facts and theory, for the case protagonist to follow. | Descriptive or illustrative cases do not conclude with a call for a recommendation. Instead, they present a situation that has occurred and your job is to analyze the protagonist’s actions. |
Example | Your recommendation might be for the protagonist to seek alternative sources of funding rather than depending on friends and family. These might include a bank line of credit, loans, or angel investors. These three sources involve less emotional investment and more straightforward financial analysis to convince lenders. | You may determine that the protagonist should have taken a different set of action steps that might have led to a better outcome. Or you may decide that the actions taken were justified and provided the best outcomes under the existing circumstances. Or your recommendation might be to take advantage of a favorable economy to expand now rather than waiting until the company has accumulated more assets. Even though the protagonist tends to a conservative approach to expansion, it makes sense to exploit opportunities that present themselves. This may be a less secure position to take, but the potential rewards might be greater. |
Written Analysis of a Short Decision-Based Finance Case
- Executive summary Write this section last even though it appears first in the case analysis. The goal of the executive summary is to provide a brief overview of the main issues, the proposed recommendation, and the actions to follow. (2 or 3 sentences).
- Statement of the problem Describe the core problem(s) of the case and the decision(s) to be made by the protagonist. Include the symptoms of the problem(s) and differentiate them from the problem(s) themselves. For example, the spots on your face are a symptom. The problem is that you have the measles (or acne, or an allergy to some skin product, or some other infection). This statement of the problem is a diagnostic process, and you need to build the rationale for your diagnosis into this section. (2 or 3 sentences).
- Causes This section is an exploration and discussion of potential causes of the main case problem(s). Support your exploration by the application of relevant theories from this course or others. Be sure to use financial tools that will support your decision-making process and will illustrate your analysis. (2 or 3 sentences).
- Possible solutions or alternatives Surface as many possible solutions or alternative actions as you can. You should not limit your possibilities to what you think is easy to accomplish or logical, but rather entertain a wide variety of options. You do not have to recommend all of these options, but you need to make your instructor aware that you have considered them. (2 or 3 sentences).
- Selection of criteria and analysis of alternatives Select the criteria for determining the basic feasibility of the alternatives identified. These criteria will guide you in considering the pros and cons of each feasible alternative. Consider at least three alternatives in this section. Sometimes, a tabular format will keep this section organized and clear. You should be prepared to provide financial analysis in this section. (2 or 3 sentences or a small matrix).
- Recommendation What do you recommend that the protagonist do? Support your recommendation with a rationale that is based on both facts and the appropriate theory for the problem (i.e., market analysis, financial statements analysis, the impact of organizational structure, supply chain management, or other disciplinary focus). (2 or 3 sentences).
- Implementation Your instructor may state that no case analysis is complete without providing the action steps to implement the recommendation. What steps should the protagonist take in order to make your recommendation happen? Identify, to the greatest extent possible, the responsibilities, costs, timeline, and measurement of success of the final implementation.