- To provide students with the basic understanding of the process of conceiving, creating, and managing an entrepreneurial venture in the international context
- To introduce students to different ways of going international and business formats of new ventures in different countries
- To train students to identify both domestic and foreign business opportunities and provide them with firsthand experiences by introducing them to international environment
- To support those students capable of launching international new ventures as the direct result of their progress through the course
- To become a field laboratory for student teams working on international entrepreneurship projects and planning to launch businesses in foreign countries
- learn about the basics of entrepreneurship; know the sources of venture opportunities
- learn how to internationalize, the basics of business environment
- be able to match the capabilities and opportunities of creating a start-up; be able to develop a business plan
- evaluate the advantages and disadvantages of different strategies of going international
- learn about the stages of new venture creation
- Theoretical backgrounds of entrepreneurship and international entrepreneurshipThe history of entrepreneurial theory. Summary of important definitional attributes. The fundamental issues of entrepreneurship. Characteristics of entrepreneurs. The entrepreneurial vision. The entrepreneurial process. Entrepreneurship as new venture creation and development. New venture ideas. Sources of venture opportunities. Recognizing and screening opportunities. Critical factors for starting a new venture. International versus domestic entrepreneurship. Global opportunities and their identification.
- Dimensions of international entrepreneurshipWhy, Where, What and How to internationalize. Motivations and strategic effects of going global. The entrepreneurial environment. Controllable and uncontrollable forces. Main characteristics of economic, political, cultural, technological, physical, financial and legal business environment for entrepreneurs.
- Entry strategies of going internationalDeveloping a new product or service. Buying a franchise. Exploiting partial momentum from an existing product or service. Finding sponsorship. Acquiring a going concern. Advantages and disadvantages of different strategies of going international. Making strategic decisions in a global context.
- Stages of new venture creation in international contextCreating a team. Taking on a business partner. Marketing strategies. Location. Financing. Legal structures for enterprises. Resource requirements. Obtaining risk capital. The deal: valuation, structure and negotiation. Obtaining debt capital. Intellectual property issues.
- Developing a global business plan: structure and key elementsOpportunity identification and analysis. The opportunity evaluation process. Matching capabilities and opportunities. Sections of a feasibility plan. Reasons for writing a business plan. The What, Whether, and Why of the business plan. The executive summary. The company’s identity. Analyzing the environmental situation and the market opportunity. Formulating a marketing strategy. The financial plan format. Pricing, budgeting and start-up costs. Money sources for the entrepreneur. Pitfalls of effective planning.
- Final business plan presentation
- Classroom participation
- Interview with an entrepreneur
- Critique of another team’s venture
- Interim assessment (2 module)0.3 * Classroom participation + 0.15 * Critique of another team’s venture + 0.4 * Final business plan presentation + 0.15 * Interview with an entrepreneur
- International Differences in Entrepreneurship Lerner, Josh; Schoar, Antoinette University of Chicago Press 2010
- International Entrepreneurship : The Effect of Firm Age on Motives for Internationalization Brush, Candida Routledge 2012
- Framework for Assessing Entrepreneurial Outcomes : An International Perspective Watson, John; Gatewood, Elizabeth;and more Emerald Publishing Limited 2014