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Syllabus for

Academic year
TEK010 - Creating new business
Entreprenörskap
 
Syllabus adopted 2020-02-18 by Head of Programme (or corresponding)
Owner: MPMEI
7,5 Credits
Grading: TH - Pass with distinction (5), Pass with credit (4), Pass (3), Fail
Education cycle: Second-cycle
Major subject: Industrial Engineering and Management
Department: 45 - TECHNOLOGY MANAGEMENT AND ECONOMICS


Teaching language: English
Application code: 26116
Open for exchange students: No
Block schedule: B

Module   Credit distribution   Examination dates
Sp1 Sp2 Sp3 Sp4 Summer course No Sp
0105 Examination 7,5c Grading: TH   7,5c   11 Jan 2021 am J   07 Apr 2021 am J,  23 Aug 2021 pm J

In programs

MPMEI MANAGEMENT AND ECONOMICS OF INNOVATION, MSC PROGR, Year 1 (compulsory)

Examiner:

Henrik Berglund

  Go to Course Homepage


Eligibility

General entry requirements for Master's level (second cycle)
Applicants enrolled in a programme at Chalmers where the course is included in the study programme are exempted from fulfilling the requirements above.

Specific entry requirements

English 6 (or by other approved means with the equivalent proficiency level)
Applicants enrolled in a programme at Chalmers where the course is included in the study programme are exempted from fulfilling the requirements above.

Course specific prerequisites

None, but students are recommended to have taken other courses with a social science content and to have a general understanding and interest of innovation and business development.

Aim

This course deals with managing business innovation, the creation and development of new, innovative businesses in established and new firms. It aims at giving the students a thorough understanding ("know that" and "know why") of business innovation and initial ability to start manage core issues of business creation ("know how"). Particular attention is given to the entrepreneurial side of business development. More specifically, the course provides:
- conceptual and analytical tools to understand, analyze and manage critical aspects of the creation and growth of new businesses
- actionable knowledge and basic skills in entrepreneurship
- modern academic knowledge on research issues in management

Learning outcomes (after completion of the course the student should be able to)

By the end of this course on commercialization of new technology and development of new businesses, students will radically have improved their understanding of on the one hand the problems and challenges involved in business creation and on the other hand management theories and approaches to handle them. Focus will be given to early phase of business innovation where the initial business model is developed. Students should have expanded their industrial network and seen and heard many cases based on real management situations and challenges when creating a new business. The course will prepare students for working in entrepreneurial ventures be it in start-ups or in large firms, VCs or consultancy operations and will give an empirical introduction to a few academic management research fields.

After the course students will know:
- Some critically important theories and frameworks for understanding how to commercialize new technology;
. o diffusion/adoption theories of innovation
. o market segmentation, differentiation and positioning theories
. o business model and modelling frameworks,
. o frameworks for structuring the acquisition of key people and capital (the recruitment process and the venture capital process) and
. o frameworks for how to structure and manage the high tech sales process.
- What a business model is and how business modelling is performed through a "nail-it-then-scale-it"/"customer development" process
- How to describe a business model used, or intended to be used by a company to exploit a technology based business opportunity
- How to analyse qualitatively the likely performance of a given business model for a given technology-opportunity nexus
- Predict with some substance the performance or potential performance of different possible business model for a specific technology/opportunity nexus.
- Suggest and qualitatively argue better performing business models for a given technology-opportunity nexus
- The importance of personal networks and self selected stakeholders and will have extended their relevant personal networks for commersialization or new tehnology

Content

The course covers a range of different aspects central to entrepreneurship, such as:
o Entrepreneurial processes, entrepreneurship and innovation management
o Sources of Innovation: Identifying and selection of innovative opportunities
o Business modelling as the intellectual, creative part of business planning
o Customer discovery, validation
o Market diffusion of innovations
o Entrepreneurial, high tech marketing; segmentation, differentiation and positioning
o Funding the venture; venture capital
o Innovation in big business and corporate venturing
o Managing internal politics and NIH ("Not Invented Here") barriers
o High Tech sales

The course provides a theoretical and practical introduction to international entrepreneurship based on high-tech products and services with focus on markets, customers and the value technology can bring to stakeholders. The perspective is centred on innovation and learning as basic processes. Even though the course deals with research on entrepreneurship as a phenomenon to some extent, the course focuses on what characterizes real entrepreneurial processes and how they can be managed in a fruitful manner. In particular, attention is given to key processes such as business modelling, opportunity identification/creation and selection, customer development, high-tech marketing & sales and financing; these processes are critical for the creation of a new technology-based firms.

Organisation

The overall structure of the course is constituted by a number of lectures aiming at giving students insights into business creation and inspiring students to become involved in business innovation activities as well as giving them a solid understanding of entrepreneurial challenges involved in creating a new business. Managerial perspectives and experience is emphasised by managers of innovation activities and new business creation in established firms and by founders/CEOs of growing high-tech firms as well as from venture capitalists.

Lectures are supported by slides, papers, web links and books.

Project assignment
A key component of the course is the undertaking of a group-based project work. The project involves five ¿Client¿ companies, Chalmers Spinout companies in their early growth phase (typically with a turnover of 1-50 MSEK) ¿ all exciting companies with committed management teams, boards and owners and a huge potential for further growth. The project is to be performed in two independent (coordination among groups but no cooperation between groups!!!) parallel groups of approximately 6 students for each of the five companies. The project work focuses the so called ¿Nail-It then Scale It¿-Process focusing on customer problems to solve, customer discovery and the customer validation process of the Client companies.

The work is to be documented in a report of about 15 pages (excluding appendix) Word document and a corresponding PowerPoint slide pack. These reports, from the various project groups are then presented and discussed at a joint seminar with invited company executives, teachers, invited expert guests and fellow students.

Literature

See the course homepage

Examination including compulsory elements

Grading is done on the basis of quizzes, written exam and a project work.


Page manager Published: Mon 28 Nov 2016.