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Regular version of the site
Bachelor 2020/2021

Entrepreneurial Basics

Type: Compulsory course (Management)
Area of studies: Management
Delivered by: Department of Venture Management
When: 3 year, 4 module
Mode of studies: offline
Language: English
ECTS credits: 4

Course Syllabus

Abstract

The purpose of mastering the discipline "Fundamentals of Entrepreneurship" is: to introduce students to the entrepreneurial way of thinking, different approaches to the organization of entrepreneurial activity; upon completion of the course students should be aware of the various goals and objectives of entrepreneurship in society, at the level of organization and in their own lives, to identify different ways of manifestation of entrepreneurship, to be able to identify and evaluate the commercial (business) perspective of entrepreneurial ideas, to develop a project of their own business and to be able to develop their own business.
Learning Objectives

Learning Objectives

  • As a result of mastering the discipline, students will know the basic approaches to the definition of entrepreneurship; types of entrepreneurship (technological, social, intrafirm, etc.), the importance of entrepreneurship for the economy; technology for launching an entrepreneurial project.
  • At the end of the course, students will be able to analyze the current situation and identify an entrepreneurial opportunity; design a business model for various types of business and develop a plan of start-up launching; conduct primary market analysis; calculate the economics of the project; represent an entrepreneurial project.
  • In addition, students will develop teamwork skills, search and analysis skills.
Expected Learning Outcomes

Expected Learning Outcomes

  • Know the key concept of entrepreneurship, different types of entreprneeurship, the role of entrepreneurship in the economy
  • Know the key characteristics of the entrepreneurs, understand the main stages of the entrepreneurial project development
  • Use the design-thinking methodology
  • Use different sources of entrepreneurial ideas. Is able to train creative and entrepreneurial thinking. Use different methods for generating ideas.
  • Is able to design value proposition, develop a business-model, test hipothesis.
  • Is able to analyze the resources necessity of the project, assess the core resources and form competitive advantage of the entrepreneurial project.
  • Is able to develope a fundraising strategy for the entrepreneurial project
  • Is able to conduct a primary market analysis: customers, competitors, industry. Is able to assess the market potential
  • Is able to design a budget of income and expenses for entrepreneurial project, calculate the main financial indicators for entrepreneurial project
  • Is able to prepare a speech of the project for potential investors and partners
Course Contents

Course Contents

  • The nature of entrepreneurship: the concept and main types of entrepreneurship.
    Entrepreneurship concept. The main types of entrepreneurship. The level of development of entrepreneurship in different countries. Creation of favorable conditions for entrepreneurial activity.
  • Entrepreneurial characteristics, entrepreneurship as a process
    Sociological and psychological portrait of an entrepreneur. Entrepreneurial characteristics and skills. Can you learn to be an entrepreneur? Stages of implementation of an entrepreneurial project.
  • Entrepreneurial mindset and idea generation
    Sources of entrepreneurial ideas. Tools for the development of creative and entrepreneurial thinking. Methods for generating ideas. Design-thinking methodology
  • Business model development
    Development of a value proposition, Abel's analysis. Business model concept. The main elements of the business model. Testing and adjusting the business model.
  • Entrepreneurial Firm Resources
    Resources of an entrepreneurial project: tangible, intangible, human, informational. Firm resources as a source of competitive advantage. VRIO resource analysis. Sources of attracting financial resources to the project.
  • Primary market analysis
    Consumer analysis: identifying a consumer's problem, forming a portrait of a consumer, calculating the volume of the market. Market analysis: industry analysis, key success factors in the market, market geography. Competitor analysis: comparative analysis of competitors, identification of competitive advantages.
  • Calculation of project financial indicators
    The main systems of taxation. Forecast of the income and expenses of the project. Calculation of key financial indicators of the project.
  • Public speaking and presentation of the project to the investor
    Preparing and conducting a public speech. The structure of the presentation of the project to the investor or potential partners.
Assessment Elements

Assessment Elements

  • non-blocking Home work 1
  • non-blocking Home work 2
  • non-blocking Auditorial work
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.2 * Auditorial work + 0.4 * Home work 1 + 0.4 * Home work 2
Bibliography

Bibliography

Recommended Core Bibliography

  • Alhabeeb, M. J. (2015). Entrepreneurial Finance : Fundamentals of Financial Planning and Management for Small Business. Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=957003
  • Aulet, B., Ursache, M., & Snyder, C. (2017). Disciplined Entrepreneurship Workbook. Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1487845
  • Bill Aulet. (2013). Disciplined Entrepreneurship : 24 Steps to a Successful Startup. Wiley.
  • Block, J. H. (Jörn), Groh, A. (Alexander), Hornuf, L. (Lars), Vanacker, T. (Tom), & Vismara, S. (Silvio). (2020). The entrepreneurial finance markets of the future: a comparison of crowdfunding and initial coin offerings. https://doi.org/10.1007/s11187-020-00330-2
  • Cremades, A. (2016). The Art of Startup Fundraising : Pitching Investors, Negotiating the Deal, and Everything Else Entrepreneurs Need to Know. Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1216067
  • Entrepreneurial finance : venture capital, deal structure & valuation, Smith, J. K., Smith, R. L., 2019
  • Entrepreneurship in theory and practice : paradoxes in play, Nielsen, S. L., 2017
  • Entrepreneurship in transition economies : diversity, trends, and perspectives, Sauka, A., 2017
  • Introduction to entrepreneurship, Kuratko, D. F., 2014
  • Jerzy Cieślik. (2017). Entrepreneurship in Emerging Economies. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sprbok.978.3.319.41721.9
  • KUPOR, S. (2019). THE ART of the PITCH. Entrepreneur, 47(4), 50–53. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=136458911
  • Miranda S. Lam, & Gina Vega. (2020). Entrepreneurial Finance : Concepts and Cases. Routledge.
  • Osterwalder, A., Smith, A., Bernarda, G., & Pigneur, Y. (2014). Value Proposition Design : How to Create Products and Services Customers Want. Hoboken: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=945730
  • Pressman, A. (2019). Design Thinking : A Guide to Creative Problem Solving for Everyone. New York: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1923524
  • Sahlman, W. A., Hoffman, R., Andreessen, M., & Blank, S. G. (2018). HBR’s 10 Must Reads on Entrepreneurship and Startups (featuring Bonus Article “Why the Lean Startup Changes Everything” by Steve Blank). Boston, Massachusetts: Harvard Business Review Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1798805
  • Small business : an entrepreneur's business plan, Hiduke, G. P., Ryan, J. D., 2014
  • Steve Blank, & Bob Dorf. (2020). The Startup Owner’s Manual : The Step-By-Step Guide for Building a Great Company. Wiley.
  • This is service design methods : applying service design thinking in the real world, Stickdorn, M., 2018

Recommended Additional Bibliography

  • Business model generation : a handbook for visionaries, game changers, and challengers, Osterwalder, A., Pigneur, Y., 2010
  • Osterwalder, A., & Euchner, J. (2019). Business Model Innovation: An Interview with Alex Osterwalder. Research Technology Management, 62(4), 12. https://doi.org/10.1080/08956308.2019.1613114
  • Ries, E. (2011). The Lean Startup : How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Currency. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=733896
  • The art of the pitch : persuasion and presentation skills that win business, Coughter, P., 2012