Entrepreneurship Course outline 2011 .pdf
Original filename: Entrepreneurship - Course outline 2011.pdf
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Author: Maurice Farmer
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Entrepreneurship is a pattern of behaviour that enables us to recognise, pursue and exploit
opportunities regardless of the resources we currently control. The task facing the entrepreneur is
both complex and challenging. Opportunities are fleeting and often difficult to evaluate, resources
are scarce and there exists the ever present threat of competition. In this harsh commercial
environment we need to proceed quickly but with caution, we need self-confidence but also to
recognise that we can’t do it all alone.
The objective of this course, therefore, is to guide students through the ‘exciting nightmare’ of
taking an idea or a technology to market, growing the venture and securing a successful exit.
Although grounded in rigorous theory, the focus of the course is highly practical and class
participation is actively encouraged. No prior knowledge of the subject is required but students
should be interested in the creation of wealth and the commercialisation of technology.
The course comprises ten two-hour sessions. Each session may consist of a lecture followed by a
class discussion of a related case study, a practical exercise or a presentation by a visiting
speaker. The essence of each session is on applying tested theory to practical business situations
in the realm of entrepreneurship.
1. Introduction to entrepreneurship & opportunities
a) Introduction to the module, learning objectives and assessment
b) Clarifying the concept and characteristics of the entrepreneur
c) A glance at entrepreneurship world wide
d) Finding, creating, and evaluating opportunities
a) From opportunity to application
b) Brainstorming exercise
3. Marketing assessment
a) Estimating the market size
b) Developing a market entry strategy
4. Protection strategy and freedom to operate analysis
a) The concept of appropriability
b) Different methods to protect an idea
c) Techniques to analyse the freedom to operate
5. Entrepreneurial strategy
a) Value chain analysis
b) The Teece-model: complementary assets & appropriability regime
c) Entrepreneurial strategy
6. Sources of capital
a) Informal equity
b) Venture capital
c) Financing mix
7. Valuation of new firms
a) Net present value
b) Relative valuation
c) Real option analysis
d) Qualitative approach
8. Academic entrepreneurship
a) Technology transfer: an overview
b) Spin-off strategies of PRO
c) Different types of spin-offs
d) Influence of TTO’s professionalization
9. International entrepreneurship
a) Importance of internationalisation for new ventures
b) Entry mode decision
c) Mechanisms to speed up internationalisation
10. Wrap up
This session will draw together the strands of the course into a coherent pattern, and provide an
opportunity to question the course lecturers on content and meaning well in advance of the exam.
30% - Group Assessment: five-page outline of a business opportunity. This may also be submitted
to the Ideas Challenge (subject to approval by College committees).
70% - Individual assessment: two-hour examination on all aspects of the course (date to be
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