Entrepreneurship

Course Description
This course gives students a comprehensive introduction in how to develop an innovative business idea, how to create a simple compelling business model and how to gain sustainable/transient competitive advantage as innovator. Furthermore, the course will introduce basic methods and tools that are important for getting started. These are creative problem solving methods, strategic management tools, generation of business models and business plans (i.e. Business Model Canvas, Value Proposition Design Canvas, Strategy Canvas etc.).

Course Learning Outcomes
Upon successful completion of the course students will be able to:
–Identify and determine what entrepreneurs need to know about the critical driving forces in a new venture success;
–Identify how successful entrepreneurs and investors create, find and differentiate profitable and durable opportunities from “other good ideas,” and how opportunities evolve over time;
–Evaluate and determine how successful entrepreneurs and investors create and build value for themselves and key stakeholders (customers, investors, and employees);
–Identify and determine the necessary financial and non-financialresources available for new ventures, identify the criteria used to screen and evaluate proposals, their attractiveness and risk, and how to obtain start-up and early growth capital;
–Define the business case and develop the appropriate business model for the new venture;
–Determine the critical tasks to be accomplished, the hurdles to be overcome during start-up and early growth, and what has to happen to succeed;
–Apply venture opportunity screening techniques to an actual start-up idea, and subsequently, develop and prepare a business plan suitable for guiding the start-up;
–Identify the future consequences of decisions made by entrepreneurs; options that are precluded or preserved; and the nastier minefields and pitfalls one has to anticipate, prepare for and respond to;
–Determine decisions that can be made to increase the reward to risk ratio at various stages of the company’s development, and thereby change the odds;
–Determine the important factors outside the control of the founders, and how critical and sensitive the current context and timing are to all of the above issues.