Course Title: Entrepreneurship & Innovation in Health Care

Instructor Ehsan ul Haque Email: ehsan@lums.edu.pk

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Room No: 4008 Telephone Ehsan-ul-Haque: Ext: 8035
:

Office TBA Secretary/ Nabeela Shahzadi

Hours: TA

COURSE OVERVIEW

This course is designed to teach students the process of creating a new viable venture from idea to launch
and to appreciate ways to bring about successful innovations in the healthcare industry. It is an interactive
course organized around an entrepreneurial project undertaken by teams of 3-5 students. This course is
designed, not only, for students with immediate entrepreneurial aspirations in healthcare, but also, for any
student considering starting an entrepreneurial venture at some point in his or her career. In the first two
weeks, teams will research, craft, test and morph their idea into a viable business concept. In the remaining
weeks of the semester, they will further refine their concept and develop a strategy to attract financial,
human and other resources. At the end of the semester, teams will submit and present their business plan for
a grade. The course builds on important research and literature as they relate to the process of new venture
creation and innovation in existing ventures. The teaching method is primarily learning by doing through a
structured process, supported by relevant cases, readings, and lectures. Rigorous class discussions are
fundamental to the SDSB learning experience, especially in a case study class environment.

Team formation and selection of entrepreneurial idea for the course will take place during the first week of
the course.

MS PROGRAM LEARNING GOALS & OBJECTIVES

Goal #1: Team Participation and Leadership

a. Students will be able to assume responsible and ethical leadership and able
to effectively work and manage diverse teams.

Goal #2: Knowledge and Integration of Functional Area Content

a. Students will demonstrate understanding of the functional and strategic

aspects of business and management
b. They should also be able to integrate across functional areas and develop
feasible strategies and action plans.
Goal #3: Effective Oral, Written, and Presentation Communication Skills

a. Students will be able to gather, evaluate and analyze information from a

variety of sources.
b. They should also be able to communicate results clearly and persuasively in
a variety of mediums for diverse audiences.
Goal #4: Social, ethical, economic and environmental responsibility

a. Students will be able to understand the broader impact of an enterprise on its

various stakeholders.
b. They should also be able to demonstrate awareness of current local and
 global legal and regulatory environment.

SPECIALIZATION GOALS AND OBJECTIVES FOR MS HMI (CLOs)

Goal # 1: Understanding healthcare management

a. Students will understand value chain in healthcare and its major components.
b. Students will understand the role of internal and external stakeholders in
managing the healthcare system
c. System optimization
Goal #2: Understanding complexity of healthcare systems

d. Students will demonstrate understanding of key challenges and major

stakeholders in health sector
e. Students will recognize challenges of managing complex health systems
f. Students will understand role of policies and laws in governing health sector
g. Students will be familiar with issues of equity and sustainability in healthcare
Goal # 3: Leading innovation in healthcare
 Students will be able to identify opportunities for innovation in healthcare
 Students will demonstrate understanding of designing and implementing a healthcare
innovation
 Students will be familiar with the steps of creating a successful venture in healthcare
Indicate below how the course learning objectives specifically relate to any program learning
goals and objectives.

MS PROGRAM COURSE LEARNING COURSE ASSESSMENT ITEM

LEARNING GOALS AND OBJECTIVES
OBJECTIVES

Goal#1: Team Participation CLO 3 Project, Case analysis

and Leadership

Goal #2: Knowledge and CLO 1-3 CP, Quiz, Mid-term, Project, Case
Integration of Functional Area analysis
Content

Goal #3: Effective Oral, CLO 3 CP, Quiz, Project, Case analysis
Written, and Presentation
Communication Skills

Goal #4: Social, ethical, CLO 1-3 Project

economic and environmental
responsibility
COURSE LEARNING OUTCOMES

As a result of this course, students will be able to:

 Develop entrepreneurial attitude requisite in harnessing the organization journey for greater
profitability.
 Acquire the skill sets needed to recognize and assess emerging business opportunities.
 Gain knowledge of innovation strategies employed in developing countries.
 Learn from practicing founder entrepreneurs.
 Appreciate the fun and heartaches of taking an idea to business fruition.

COURSE PRE-REQUIREMENTS

1. Understanding of basic accounting, marketing, OB, and finance.

GRADING

Students will be evaluated on a combination of the final business plan, presentations, and class
participation, including the interim progress updates on the business plan.

Class Participation 30%

Quizzes 20%

Idea Presentations 10%

Final Presentation 15%

Written Business Plan 25%

Session ASSIGNMENT QUESTIONS
Module and Topic: TITLE OF CASE READING MATERIAL LEARNING OBJECTIVES
No.

Session 1 Module 1 –
1. Self-Diagnosis: Do To provide the opportunity to Be prepared to discuss the
FUNDAMENTALS OF you have the right assess one's aptitude for risk- readings in class
ENTREPRENEURSHIP stuff to start a taking based on the
AND BUSINESS PLAN business? characteristics of successful
entrepreneurs.
2. Natural-Born
Entrepreneurs

Session 2
1. Business Model Understand and appreciate the Be prepared to discuss the reading
Analysis for basic elements of an in class
Entrepreneurs entrepreneurial business model

Session 3
1. Developing Business Understand how to translate a Be prepared to discuss the
Plans and Pitching business model into a well- readings in class
Opportunities crafted plan and pitch.

2. Recognizing and Understand how potential

Shaping Opportunities investors and other stakeholders
evaluate a plan or pitch.

Understand the value of

flexibility in identifying and
finalizing business opportunities.

Session 4 PRESENTATION OF
INITIAL IDEA
Session 5 Module 2 –
Evaluate entrepreneurial 1. Why are FAMViC sales lower
IDENTIFYING AND Case: STEDEC: The opportunity identification and than expected?
SHAPING FAMViC Challenges exploitation
OPPORTUNITIES
Critically evaluate Go to Market 2. What should Mr. Khan do and
strategies of STEDEC why?
Session 6
1. Experimenting in the Appreciate the role of small Be prepared to discuss the
Entrepreneurial experiments in removing critical reading(s) in class
Venture risk factors in the entrepreneurial
journey
Session7 Module 3 –
1. Selling and Marketing Provide basic knowledge of Be prepared to discuss the
GOING TO MARKET in the Entrepreneurial marketing mix and Go to Market reading(s) in class
Venture strategies for entrepreneurs

Session 8
Estimate size of opportunity 1. How do you assess Biopure’s
Case: Biopure created by innovation potential in the human
Corporation market? The animal market?
Understand organizational
tradeoffs in exploiting 2. Would you launch the
Oxyglobin at this time or not?
opportunities

Charting out an appropriate go to 3. If you do want to launch the

market strategy Oxyglobin what other
marketing mix decisions will
you take?

Session 9 Module 4–
1. The Discipline of Introduce the basic concepts and 1. What is the distinctive value
INNOVATION Case: Stork Home Innovation frameworks of innovation proposition of Stork Home?
MANAGEMENT Fernandez Hospital: Going
 to Market with a Purpose 2. What is Disruptive
Driven Disruptive Innovation 2. How should the systems,
Innovation Evaluate the reasons for processes and norms at Stork
innovations and challenges faced
Home differ from those of
in implementation
other FH hospitals?

3. As Dr Fernandez what would

be your future strategy?

Session 10
Expose students to an innovative 1. Would you label Arvind as a
Case: Arvind Eye Care business model to eliminate successful enterprise? What
System blindness amongst poor people
seem to be its KSFs?
Understand the challenges
involved in scaling up of an 2. Why does Arvind seem to be
innovation moving away from Eye
Camps to Vision Centers?

3. How do you evaluate the

Vision Centers in fulfilling
Arvind’s mission?
Session 11
Expose students to an innovative 1. How do you like Hubble’s
Case: Hubble Contact DTC model of business current business model? What
Lens worries you about it?
Understand the role of offline
versus online marketing. 2. How efficiently does Hubble
acquire and retain customers?
Strategize a firm’s growth plans.
3. How would you allocate
offline and online ad spend?
 Why?

4. Going forward what growth

strategy would you
recommend to Hubble?

Session 12 Guest Speaker

Session 13 Module 5–
1. Healthcare Finance Describe how costs are classified Be prepared to discuss the
(Chapter 5, according to their relationship reading(s) in class.
FINANCIAL with volume.
MANAGEMENT AND Organizational
RAISING FUNDS Costing and Profit Conduct profit (cost-volume-
Analysis, Page 159 – profit) analyses to analyze the
189) impact of changing assumptions
Healthcare Finance on both profitability and
(Chapter 6, breakeven points.
Departmental Costing
Differentiate between direct and
and Cost allocation,
indirect (overhead) costs.
Page 201 – 224)
Explain why proper cost
allocation is important to health
services organizations.

Session 14 1. Financing To introduce and understand Be prepared to discuss the

Entrepreneurial various financing options reading(s) in class.
Ventures available to entrepreneurs.

To understand the basic elements

2. Partnering with of a financing contract with
Venture Capitalists
 venture capitalists.

Session 15
To teach students about the 1. What are the main differences
Case: Term sheet elements and characteristics of and similarities between the
Negotiations at term sheets.
Trendsetter, Inc. two term sheets?
To sharpen students'
understanding of how to If you were the entrepreneur
compare term sheets and how to and could not negotiate any of
select the best term sheet given the terms in either term sheet
the likely evolution of a venture. which one, would you prefer
and why?
Session 16 Module 6–
1. People and Explore different stages of 1. Does the franchise model
TEAM BUILDING Case: BrightStar Care: growth in an expanding company
Organizational Issues presents a relatively low-risk
AND LEADERSHIP The Evolution of a and the external and internal
Leadership Team Involved in Scaling a and high-return approach to
factors that influence each stage.
Startup growing BrightStar?
Learn to addresses challenges
2. Becoming on faced by a founder as she cedes 2. What challenges were posed
Entrepreneurial more control to a growing team due to shifting regulatory
Leader of executives. landscape and labor
shortages?

3. What was Sun’s solution to

growth strategy?

Session 17 1. How did initial decisions,

1. Attracting Talent and To evaluate organizational related to each of the
 Case: Arise: A Building an decisions from a systems following elements of
Destination-for-a-Day Spa Ecosystems perspective, rather than ARISE’s HRM system,
independently or from within support or undermine the
disciplinary silos.
other elements of that system?
To understand how financial
constraints can push managers to  Work systems and job
think more creatively about ways design
to motivate and retain  Staffing
employees. To examine the  Compensation and
challenges of building an rewards
upscale-niche competitive  Career development and
strategy while still retaining tight training
control of costs.  Solicitation of feedback
from employees

Session 18 Guest Speaker

Session 19 Work on Project

Session 20 Work on Project

Session 21 Exam Day /

Final Presentations