Knowledge-based Entrepreneurship (MSB415)

Content

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, students 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 students will learn - assessing their own means, who they are and what they 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 students will learn how to take advantage of it. Negotiation and building partnerships are other core skills that will be discussed through this course. Finally, students will learn to put it all together and modify the business idea until they find their niche and achieve market success. Bringing a social, environmental and economic value is a core essence that students will learn in this course.

Course contents

• Who are entrepreneurs and what is entrepreneurship
• Idea generation and evaluation
• Pitch techniques
• Value proposition
• Creating 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

Learning outcome

Knowledge:

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 pitch
• understand the importance of economic, environmental and social business values
• understand the importance of thinking 'glocally' with an international perspective on business development

Skills

After this course students 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

Required prerequisite knowledge

Exam

Coursework requirements

Supplementary information about the three mandatory requirements:

1. Participation on 70% of all lectures (regular and guest lectures) and seminars.

2. Students will prepare one seminar presentation (individual/group)

3. Students will submit a preliminary draft of the business concept

Course teacher(s)

Course coordinator:

Course teacher:

Course teacher:

Study Program Director:

Method of work

The sessions will be organized as a combination of lectures, guest lectures, group discussions, and seminars. Before each session, students are expected to go through the required literature or video materials. Active participation during class sessions is expected. Between sessions, students should work independently with assignments or other deliverables agreed with the teachers. It is desirable that students work together in groups of 2 or 3 students for the assignment. The assignment is based on developing a business idea and a business plan. For this assignment, students will be supervised by teachers and/or mentors from the business community. Based on this assignment, students will present their work through business idea and business model canvas pitch. The final evaluation will be a written business plan and an oral exam at the end of the course. Students will have the opportunity to submit a draft of their business plan to get feedback prior to the final submission.

Expected workload: 250-300 hours

Lectures: 50 hours

Self-study: 100 hours

Business plan: 100 hours

Open for

Course assessment

Literature