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Innovation and Entrepreneurship (MBIE01)

Course No.:

MBIE01

Course Title:

Innovation and Entrepreneurship

Hours Total:

150 h

Credit Points:

5 ECTS

Course Type: Pflicht

Course Availability: WS, SS

Course Duration: 1 Semester

Admission Requirements:

None

Course Coordinator / Instructor:

See current list of tutors in the Learning Management System

References to Other Modules:

Please see module description

Course Description:

Innovations and entrepreneurial activities are the foundation of and driving forces behind our economy. Taking a look at the economic development of countries, it seems that innovation and entrepreneurship are critical at every stage of the economic development cycle. In developing economies, small enterprises start to institutionalize economic systems, and create supply, demand, and, eventually, markets; they are the seed for economic growth and prosperity. In developed economies, entrepreneurship and innovations are key drivers of competition, competitiveness, and survival in globalized economies and markets. This module exposes students to the ideas, drivers, and motives behind entrepreneurship as well as introduces them to the practical aspects of identifying, assessing, and progressing innovation.

Course Objectives and Outcome:

On successful completion of this course, students will be able to:

  • Describe the foundations, importance, and dimensions of entrepreneurship and entrepreneurial activities and derivatives of entrepreneurship such as interpreneurship, corporate entrepreneurship, owner/manager relations and small/family businesses.
  • Analyze the opportunities and challenges associated with establishing a new venture and evaluate new business ventures using empirical criteria.
  • Differentiate between different motivations for business formation and develop specific objectives for new business ventures.
  • Develop a business model that includes specific measures to facilitate the sustainable growth of the new venture.
  • Recognize the legal designs available to formalize business formation and select the most appropriate design relative to the needs of the business.
  • Assess available financial sources to fund business/innovation activities and select the most appropriate capital/debt structure for the short- and medium-term.
  • Outline the role of various stakeholders and effectively manage relations with stakeholders with a vested interest in the innovation.
  • Construct a rigorous business plan that can be used as a strategic planning tool and utilized to secure necessary financial backing.
  • Enable students to adopt an “entrepreneurial mindset” to guide them in a variety of contexts in their professional lives.

Teaching Methods:

A variety of learning materials are offered to students: depending on the course, these include printed and online course books, vodcasts, podcasts, online tutorials, case studies, and online knowledge tests. This range of learning materials are offered to students so they can study at a time, place, and pace that best suits their circumstances and individual learning style.

Course Content:

1 Entrepreneurship and Innovation

1.1 Entrepreneurship and the Entrepreneur

1.2 Innovation

1.3 The Relevance of Entrepreneurship and Venturing Activities: The Global Entrepreneurship Monitor (GEM)

2 Company Formation Strategy

2.1 Different Contexts for Forming Business Ventures

2.2 Objectives and Motivation for Forming New Business Ventures

2.3 Business Model and Strategy

2.4 Sustainable Development of the Firm

2.5 Your Company Formation Strategy

3 Legal Design and International Comparative Analysis

3.1 Main Categories of Legal Designs: An Overview

3.2 Basic Features of Different Legal Designs

3.3 International Comparison

4 Financing New Business Ventures

4.1 Financial Sources and Financing Instruments

4.2 Public Business Development Programs

4.3 Venture Capital

5 The Business Plan

5.1 The Purpose of a Business Plan

5.2 Business Plans – Expectations

5.3 Contents and Structure of a Business Plan

5.4 Guidelines for Preparing a Business Plan

Literature:

  • Baringer, B., & Ireland, D. (2012). Entrepreneurship: Successfully launching new ventures (4th ed.). Harlow: Pearson.
  • Bessant, J., & Tidd, J. (2011). Innovation and entrepreneurship (2nd ed.). Chichester: John Wiley & Sons.
  • Evans, V. (2011). Writing a business plan: How to win backing to start up or grow your business. Harlow: Pearson.
  • Fleming, L. (2007). Breakthroughs and the “long tail” of innovation. MIT Sloan Management Review, 49(1), 69–74
  • Gladwell, M. (2010, January 18). The sure thing: How entrepreneurs really succeed. The New Yorker, 24–30.
  • Hauschildt, J., & Salomo, S. (2011). Innovationsmanagement (5th ed.). Vahlen: Munich.
  • Scarborough, N. M. (2012). Essentials of entrepreneurship and small business management (pp. 17–47). Harlow: Pearson

Prerequisites to Qualify for Assessment:

• Course evaluation

Assessment:

• Written Assessment: Case Study

Student Workload (in hours): 150

Self-study: 75
Self-testing: 30
Tutorials: 45