printer friendly pageSTRAMGT 359: Aligning Start-ups with their Market
Most everyone associated with technology start-ups would agree that the most important initial characteristic of a successful endeavor is a compelling vision. The journey from vision to escape velocity is highly dependent on management's ability to translate that vision into a product or service that closely and economically addresses a customer's significant point of pain. Without a tight product market fit, the start-up's offering will not be able to break through the market's gravitational forces which strongly favor existing solutions, resulting in likely failure. With tight product/market fit, it is far more likely the company will achieve repeatable and growing sales success. Conventional wisdom dictates that a start-up launching a new product should focus its energy understanding what the market wants (problem) and then translating that knowledge into an optimal set of product features (solution). This is the ideal strategy if one is attacking a market that already exists. However if the start-up pursues an entirely new market or re-segments an existing market, customers are unlikely to be able to articulate the benefits and features they will need. The approaches required to pursue new or re-segmented markets are radically different from those applied to existing markets. As a result it is not relentless execution and exploitation of a well understood market that will lead to success, but discovery of a new market or segment that is in need of the product as envisioned. If done well, this process of finding the optimal product/market fit has a disproportionate impact on success. Our course explores the many issues associated with optimizing product/market fit. A take-home midterm, a group paper, and an in-class exercise comprise 50% of a student's grade with class participation representing the remainder.
STRAMGT 353 is recommended prior to taking this course.
Terms: Spr
| Units: 4
Instructors:
Barnett, W. (PI)
;
Rachleff, A. (SI)
STRAMGT 360: Strategic Educational Research and Organizational Reform Practicum A
This is a two-quarter clinical course offered in the Winter and Spring Quarters that brings together upper-level graduate students in business, law, and education from Stanford to collaborate with their peers at other universities (Columbia University, Harvard University, University of Pennsylvania, University of Michigan) and provide strategic research and consulting to public education organizations. Participants engage in a rigorous and rewarding learning experience, including:nn(i) An intensive seminar in the design, leadership and management, and transformation of public school systems, charter management organizations, start-ups, and other K-12 public- and social-sector institutions;nn(ii) Comprehensive skills training in team-based problem solving, strategic policy research, managing multidimensional (operational, policy, legal) projects to specified outcomes in complex environments, client counseling, and effective communication; andnn(iii) A high-priority consulting project for a public education sector client (e.g., school district, state education agency, charter management organization, non-profit) designing and implementing solutions to a complex problem at the core of the organization's mission to improve the educational outcomes and life chances of children. The participant's team work will allow public agencies throughout the nation to receive relevant, timely, and high-quality research and advice on institutional reforms that otherwise may not receive the attention they deserve.
Terms: Win
| Units: 4
Instructors:
Koski, W. (PI)
STRAMGT 361: Strategic Educational Research and Organizational Reform Practicum B
This is a two-quarter clinical course offered in the Winter and Spring Quarters that brings together upper-level graduate students in business, law, and education from Stanford to collaborate with their peers at other universities (Columbia University, Harvard University, University of Pennsylvania, University of Michigan) and provide strategic research and consulting to public education organizations. Participants engage in a rigorous and rewarding learning experience, including:nn(i) An intensive seminar in the design, leadership and management, and transformation of public school systems, charter management organizations, start-ups, and other K-12 public- and social-sector institutions;nn(ii) Comprehensive skills training in team-based problem solving, strategic policy research, managing multidimensional (operational, policy, legal) projects to specified outcomes in complex environments, client counseling, and effective communication; andnn(iii) A high-priority consulting project for a public education sector client (e.g., school district, state education agency, charter management organization, non-profit) designing and implementing solutions to a complex problem at the core of the organization's mission to improve the educational outcomes and life chances of children. The participant's team work will allow public agencies throughout the nation to receive relevant, timely, and high-quality research and advice on institutional reforms that otherwise may not receive the attention they deserve.
Terms: Spr
| Units: 4
STRAMGT 366: The Startup Garage: Testing and Launch
Teams that concluded at the end of the fall quarter that their preliminary product or service and business model suggest a path to viability, continue with the winter quarter course. In this course, the teams develop more elaborate versions of their product/service and business model , perform a series of experiments to test the key hypotheses about their product and business model, and prepare and present an investor pitch for a seed round of financing to a panel of seasoned investors and entrepreneurs.n nThe key premise for the course is that a robust venture creation process involves development and validation of a series of hypotheses about a new product or service, its value proposition, and how the business will acquire customers, make money, scale up to achieve profitability, and raise funds to achieve the key milestones to profitability. In Startup Garage: Testing and Launch, teams will learn how to precisely formulate these hypotheses and early stage milestones, and how to test them using one or more of the following low-cost approaches: a) online experiments with minimally viable products; b) interviews with partners, advisors, investors, and business experts; c) analogies from existing businesses that were successful in proving hypotheses that are analogous to what the new startup wants to prove.n nThe course focuses on further developing entrepreneurial skills using the same pedagogical approach used in S356: short lectures, extensive in-class exercises focused on each team's specific projects, and 'get out of the building' assignments. Teams will have the opportunity to:nn- Get out of the building and interact with users, advisors, investors and partners to develop a deep understanding of the challenges they face, to field test their proposed services, products, and business models, and to gather data.nn- Interpret the data and make important startup decisions in the context of their own project: pivot, persevere, or perishnn- Develop creative go-to-market strategies and test their effectivenessnn- Develop and deliver in front of real investors an investor pitch, elevator pitch and executive summarynn- Negotiate term sheets with venture investorsnn- Develop a hiring plan for their first year of operation and consider equity and other compensation plan
Terms: Win
| Units: 4
Instructors:
Zenios, S. (PI)
;
Galen, D. (SI)
;
Glickman, M. (SI)
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Instructors:
Zenios, S. (PI)
;
Galen, D. (SI)
;
Glickman, M. (SI)
;
Lisbonne, B. (SI)
;
Siegelman, R. (SI)
;
Wood, D. (SI)
STRAMGT 368: Strategic Management of Nonprofit Organizations and Social Ventures
This course seeks to provide a survey of the strategic, governance, and management issues facing a wide range of nonprofit organizations and their executive and board leaders, in the era of venture philanthropy and social entrepreneurship. The students will also be introduced to core managerial issues uniquely defined by this sector such as development/fundraising, investment management, performance management and nonprofit finance. The course also provides an overview of the sector, including its history and economics. Cases involve a range of nonprofits, from smaller, social entrepreneurial to larger, more traditional organizations, including education, social service, environment, health care, religion, NGO's and performing arts. In exploring these issues, this course reinforces the frameworks and concepts of strategic management introduced in the core first year courses. In addition to case discussions, the course employs role plays, study group exercises and many outsider speakers.
Terms: Win
| Units: 4
Instructors:
Meehan, B. (PI)
STRAMGT 371: Strategic Management of Technology and Innovation
This course focuses on the strategic management of technology-based innovation in the firm. The purpose is to provide students with concepts, frameworks, and experiences that are useful for taking part in the management of innovation processes in both startups and large technology-focused organizations. The course examines how leaders can manage fast-changing technological innovations effectively. Specific topics include: assessing the innovative capabilities of the firm, managing the technical function in a company, navigating the interfaces between functional groups in the development function in the firm, understanding and managing technical entrepreneurs, building technology-based distinctive competencies and competitive advantages, technological leadership versus followership in competitive strategy, institutionalizing innovation, attracting and keeping entrepreneurs.
Terms: Aut
| Units: 4
Instructors:
Burgelman, R. (PI)
;
Siegel, R. (SI)
STRAMGT 381: Leading Strategic Change in the Health Care Industry
This seminar provides the opportunity for students to study the structure and dynamics of the U.S. health care industry, and some of the ways it intersects with the global health care industry. The U.S. health care industry represents over 15 percent of the nation's GDP and is rapidly changing as a result of government regulatory reform enacted in 2010. The seminar's aim is to develop participants' ability to create strategically informed action plans that are imaginative, inspiring and workable in this highly dynamic environment. The seminar's pedagogy involves informed debate to evaluate and hone well-researched views by the participants and instructors, as well as the writing and presentation of position papers by small groups of seminar participants on the key dynamics of the industry. In the course of the seminar discussions, we aim to deepen our understanding of strategic dynamics and transformational change at the societal, industry and organizational levels of analysis. After developing a complete picture of the structure of the health care industry and the strategic relationships among the key players - the strategic landscape -, the seminar will focus on how health care reform and other external forces will affect the strategic opportunities and challenges of four types of players in the strategic landscape: (1) Incumbents (e.g., pharmaceutical companies, hospital companies, insurance companies); (2) entrepreneurial startups (e.g., home monitoring, genetic testing companies, information services); (3) cross-boundary disruptors (e.g., health clinics, Wal-Mart, Cisco, Google); and (4) international health care providers (e.g. in Mexico, India, Thailand) Four student teams will be formed to focus on one of the four types of players. Each team will prepare a research paper focused on determining how their type of player can take advantage of the regulatory, technological, social, cultural and demographic changes, and who will be the likely winners and why. During the first round of discussions (sessions 2-5) all participants will take part in examining the different parts of the competitive landscape. During the second round (sessions 6-9), the different teams will present their research findings and perspectives about the strategic opportunities and threats which exist. As part of the second set of sessions, the instructors will bring in domain experts to further augment the discussion.
Terms: Aut
| Units: 3
Instructors:
Burgelman, R. (PI)
;
Pearl, R. (SI)
STRAMGT 504: Innovation and Non-founder CEOs
This course examines how companies innovate after the success of their first product, and why non-founder led companies are often less successful at this than founder led companies. We focus on how non-founder CEOs can drive more innovation while managing risk and potential failure. Our emphasis will be primarily on lessons that can be applied to technology companies, although many are relevant to other industries. Our goal is to help develop successful non-founder CEOs.nn
Terms: Win
| Units: 2
Instructors:
Layton, T. (PI)
;
Rachleff, A. (SI)
STRAMGT 509: Strategies of Effective Product Management
This is a course about exploring the methods and processes for product management, largely in technology companies, and a look at what can lead to the most effective ways to coordinate customer needs, ensure accurate product development, and how to develop and use the appropriate tools needed to successfully sell products and services to customers from the perspective of the Product Manager. The course covers ways to think about product management depending on the type of product being delivered (new product introduction vs. reinvigorating an existing product) and also the skills and tools used by product managers for effective product management.
Terms: Win
| Units: 2
Instructors:
Goldberg, A. (PI)
;
Siegel, R. (SI)
STRAMGT 510: Conversations in Management
This case-based course is offered for students who want to refine their ability to manage challenging professional conversations. The class, which is limited to 32 students, will focus on the preparation for and execution of role-played dialogue as well as on postmortem analysis. Most of the respondent roles will be external to one¿s company, and some will be front line or mid-level people with limited educational credentials. Broad utilization will be made of background readings plus visiting case protagonists and experts. There will be nine class sessions, each of one hour and forty-five minutes.
Terms: Aut, Win, Spr
| Units: 2
Instructors:
Ellis, J. (PI)
;
Grousbeck, H. (PI)
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