Innovative Curriculum

Innovation and Entrepreneurialism

When Jonathan Bentrim Began the new VSB course titled “Innovation & Entrepreneurialism” in the Spring 2010 semester, he and many of his fellow students did not know exactly what to expect.

They did know the course would be based on the format of the ABC television production “Shark Tank.” However, few of them had ever heard of the show, let alone seen it. So, Bentrim says, they started taping and watching episodes. They learned that “Shark Tank” places entrepreneurs in front of a panel of four “angel” investors (or sharks), giving them the opportunity to pitch their business ideas in hopes of winning a negotiated investment.

The course—conceived, developed, and taught by Stephen Andriole, a professor in VSB’s Department of Management and Operations— culminated in the same way. Before joining VSB in 2001, Andriole was the senior vice president and chief technology officer for Safeguard Scientifics Inc., a public venture investment firm in Wayne, pennsylvania. Drawing from that experience, he structured a course intended to teach students how entrepreneurs and corporations catalyze innovation.

Andriole first prepared the students through traditional classroom lectures, then led them through creating and preparing product ideas and business plans. “In the process, we talked about best practices around innovation, how companies like Google and Apple innovate,” Andriole says. “We considered methodologies for creating an innovative culture, we discussed the tactical steps involved with a new idea, and we cautioned students about risk analysis.” At the beginning of each class, Andriole would show snippets of “Shark Tank,” complete with the rousing theme music. “I was using it as a way to say ‘Get ready, because this is going to happen to you.’ ”

The students divided into groups, created business ideas, and developed presentations. In the final two classes, they pitched their plans to a panel of investors made up of Andriole and several of his serial-entrepreneur associates: Vince Schiavone, co-founder and CEO of listenlogic; John loftus CE ’83, managing director at the Internet Capital Group; and paul Melchiorre VSB ’83, global vice president at Ariba—all of whom have founded, co-founded, and sold many companies.

“I tried to play a facilitator role,” Andriole says, “which is tough, because you can’t herd cats, or sharks. Our panel was comprised of pretty aggressive individuals. In my opinion, they were the real deal, and better than the people on the TV show.”

Facing the sharks was one of Bentrim’s favorite parts of the course. “That really added some interesting elements,” says the May 2010 Villanova MBA graduate who now serves as

director of internal audit for Capmark Bank, headquartered in Salt lake City. “They asked good questions and pointed out our oversights. Some panelists were friendly, while others challenged our work. But I thoroughly enjoyed the process.”

Bentrim also liked how the course was taught and the lessons it entailed. “professor Andriole is very dynamic and easy to follow. He is someone I wanted to pay attention to,” Bentrim says. “In a lot of courses there’s a defined answer—you do a calculation, find an exact statistic, or solve an accounting problem. But this course was openended: There isn’t a wrong answer. We were encouraged to be creative and see what happened.”

That, Andriole says, is exactly what the students are supposed to like. “Because of my background in industry, I work extra hard to connect research to practice, to connect the two worlds,” he says. “So in this course we talk about principles, best practices, but then also come up with an idea that real, live, experienced investors are going to actually quiz you on. I think the students like the reality of it.”

That “reality,” it turns out, could not have been more authentic. The panel of investors didn’t sign on for just an academic exercise—they were open to the possibility of actually investing, if any of the groups showed them a deserving plan. One group did just that, and worked with the experts beyond the end of the course to evaluate their opportunities for success in the marketplace. — by Chris Nicholson

Helping the YMCA Grow Its Brand

THE NATIoNAl CApITAl YMCA wAs lookING To ExpANd ITs BrANd.

A stone’s throw from the White House, the Washington, D.C., branch of the notfor-profit national organization competes for members with high-tech, for-profit health clubs, Washington sports centers, and community organizations. In the face of increased competition, the YMCA needed points of differentiation.

Enter Villanova School of Business (VSB) graduate students from professor John kozup’s Strategic Marketing Management class. All 30 students acted as consultants for the Washington YMCA during a semester-long class project. As a result, the national Capital YMCA now is operating under a comprehensive marketing plan, which promises to turn the tide on enrollment, branding, communications, sponsorships, and donor contributions.

“Villanova always has followed the Augustinian tradition—we strongly believe in service,” says professor kozup, director of the Center for Marketing and public policy research. “I have just taken it into the business realm. Quite a few firms are suffering now from lack of marketing talent for strategic planning and analysis. I have offered up my courses, my students, and my graduate assistants as pro bono consultants for a series of local, regional, and national firms.”

This was the first time kozup had embarked on such a rigorous and comprehensive program. The project required one major trip to Washington for the first- and second-semester MBA students in the class. With the exception of a few independent trips by selected students, the rest was accomplished through conference calls and meaningful e-mail exchanges.

“The YMCA provided staff resources, travel support, and access to customers, board members, and key stakeholders,” explains kozup. “They also helped with data collection on the ground. Our students formed teams covering branding and business mission, entrepreneurial programs, corporate partners and sponsors, private donors, and communications. They also did a competitive benchmarking analysis with several sports clubs and organizations in the D.C. metro area.”

For his part, kozup served as a guide, helping with marketing knowledge, training, and advice throughout the 15-week semester, since the project took place over and above the students’ normal attendance and work for his class.

Despite some grumbling about the amount of time and outside work the project required, most students were appreciative of and enriched by the experience. One student writes: “I did not apply to the Villanova MBA program to ‘skate through.’ I was looking to be challenged, educated, and enlightened, and this course accomplished that goal.”

In the end, the YMCA not only graded the students on their work, but also reached out to several for continued support. — by Chris Nicholson