MST-35306 Principles of Entrepreneurship

Course

Credits 6.00

Language of instruction:

English

Continuation courses:

MST-23406 New Venture Creation: from Idea to Business Plan. This course is compulsory for Technology, Innovation and Strategy.

Contents:

This course consists of intensive and interactive lectures and tutorials, group work and case study analyses.
The main objectives of the course are to make students familiar with the key concepts and the creation of insights in the field of entrepreneurship, and to practice entrepreneurial activities such as opportunity recognition, specifying value creation and developing growth strategies of new ventures.
In the first lectures and tutorials, several aspects of entrepreneurship are discussed, by handling important topics like:
- what is entrepreneurship, what are the various types of entrepreneurship, which characteristics and qualities do entrepreneurs show?
- the relationship between the research fields of entrepreneurship, innovation and new product development.
Then the start-up process of a company will be examined:
- how do starting entrepreneurs find their business ideas?
- how of business ideas are translated into a business plan and how intellectual property is protected;
- the various ways of financing a new venture, their characteristics, their pros and cons;
- business concepts and alliances between the entrepreneur and other parties.
In the last lectures and tutorials, the next stage of a firm's evolution (i.e. growth and consolidation), and the topics of intrapreneurship, and sustainable entrepreneurship will be introduced and discussed.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- understand and explain the key concepts in the field of entrepreneurship, e.g. entrepreneur, innovation, value creation, resources, opportunities;
- understand the various stages of the entrepreneurial process;
- recognize entrepreneurial activities in organizational settings, differing in terms of complexity, dynamics, financing, uncertainty;
- recognize and explain critical success factors in opportunity recognition, obtaining venture finance and growth strategies of new ventures;
- interpret and critically assess literature in the entrepreneurial field and make a comparison with real life situations.

Activities:

The course consists of twelve sessions. Each session consists of lectures, case work and class discussions. Sessions are highly interactive and students are expected to be well prepared and to participate actively in discussions and presentations. A critical and participative attitude is expected. Guest lectures by (life sciences) entrepreneurs and industry experts are also scheduled. Group work and case studies are planned with the aim of analyzing at least two aspects of the entrepreneurship literature. Students will be supervised by the lecturers during weekly group meetings

Examination:

The assessment of the course is based on three elements: (1) the tutorial, (2) the assignment, (3) the individual exam.

Literature:

Course material mainly consists of:
- PowerPoint presentations (via Blackboard)
- articles and hand-outs delivered by the lecturers before the course starts and during the course (via Blackboard or in class).
Additional literature will be provided.
Students are expected to check the course site regularly for updates and new relevant information.