This is the study programme for 2020/2021.

This course examines the factors that promote entrepreneurial success in new business ventures. The course focuses on knowledge-intensive and socially responsible entrepreneurship, since entrepreneurial ventures in high-cost economies exposed to international competition, such as the Norwegian economy, need to be based on combinations of knowledge and technologies that can provide sustained competitive advantages and be responsive to the needs of the society.
Students are expected to gain knowledge on how to start a business - generate and evaluate ideas, assess industry systems and potential markets, identify value proposition as well as potential risks and create a valid business model for the new business. Through the course you will get an opportunity to connect with student incubator and participate in business completions. Some of our former students won up to 1 mill nok, and are running successful companies, such as Tidewave or During the course, students will get opportunity to interact with real entrepreneurs in knowledge-based firms. You can work on your own idea, or join a start-up company to help them to develop a valid business model.
Students enrolled to this course have the opportunity to work closely with InGenious cases, alternatively to cases found in their own network. InGenious is a collaborative project of the Stavanger University with local companies, that is designed in collaboration with the European Consortium of Innovative Universities (ECIU). Thus, students will get opportunity to work in close collaboration with companies in the region of Stavanger.

Learning outcome

Upon completion of the course, students will:
  • have a theoretical and practical understanding of establishing a new business
  • know how to develop a proper business model
  • know how to make a successful pitching
  • understand the importance of economical, environmental and social business values
  • Understand the importance of thinking glocally and having international perspective on business devlopment

After this course you will be able to
  • understand main elements of the commercialization process
  • investigate the market potential for new ideas
  • identify core resources needed for idea implementation
  • exploit external networks and partnerships
  • perform financial and liquidity analysis
  • summarize obtained knowledge in a business plan/business model


In this course, we apply effectuation approach to entrepreneurship. In addition to all tools that students will be provided during the course, such as idea generation tool, pitching techniques, value proposition identification, SWOT analysis, negotiations skills, business model canvas and blue ocean strategy, we will learn about five core principles of the effectuation. Being an entrepreneur is different from being a manager, and thus different skillsets are required. The "Bird in hand" principle is the first effectuation principle you will learn - assessing your own means, who you are and what you know. Being able to handle risk and create future rather than forecast it is another crucial principle. Further, leveraging surprises is a core entrepreneurial ability and we will learn how to get advantage of that. Negotiation and building partnerships is another core skill that you will learn through his course. Finally, being able to put it all together and modify your business idea until you find your niche and achieve market success is what you will learn during this course. Bringing a social, environmental and economic value is a core essence that you will learn in this course.

Course contents
  • Who are entrepreneurs and what is entrepreneurship
  • Idea generation and evaluation
  • Pitch technology
  • Value proposition
  • Building a business model
  • Market positioning
  • Strategic alliances and negotiations
  • Social and responsible entrepreneurship
  • Blue ocean strategy
  • Regional infrastructure for entrepreneurship and sources of funding
  • Risk assessment and financial calculations
  • Exit strategies

Required prerequisite knowledge



Written business plan and oral exam
Weight Duration Marks Aid
Written business plan according to specified requirements1/22 monthsA - F
Oral exam1/2 A - F
The written submission will be given a grade that counts for 50%. The Oral Exam consists of a presentation and defence which counts for 50%. The written assignment and the oral exam will be considered together in relation to the final grade.

Coursework requirements

Mandatory participation in 70% of classes, Two oral presentations throughout a course, Draft of business plan
Mandatory participation on 70% of lectures/seminars,
Minimum of two oral presentations during the course (business idea pitch, business canvas pitch).
Submission of preliminary draft description of the business concept.

Course teacher(s)

Course teacher
Elisa Thomas , John Robert Bessant , Ola Barkved
Course coordinator
Tatiana Aleksandrovna Iakovleva

Method of work

Instruction is provided through lectures. Active participation in class is expected. Between sessions, participants must work independently or in groups (max three persons) with a business plan or other deliverables agreed with the lecturers. Students will be supervised by lecturers and/or mentors from the business community.
The sessions will be organized as a combination of lectures, group discussions and obligatory presentations. During the course we will use guest speakers who are specialists within their fields.
Expected workload: 250-300 hours Lectures: 50 hours Self-study: 100 hours Business plan: 100 hours

Open to

All master's students at UiS.

Course assessment

Students will have the opportunity to give feedback on the course first in an early dialogue, and then in a written course evaluation at the end of the course.


Link to reading list

This is the study programme for 2020/2021.

Sist oppdatert: 15.08.2020