APPLIES TO ACADEMIC YEAR 2014/2015

BIK 2903 How to start and run your own business

Responsible for the course
Frode Solberg

Department
Department of Innovation and Economic Organisation

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
Many people dream of setting up their own business and being self-employed. This course may help you realise such a dream, or it may help you review your ideas and plans so that you see what may succeed and what needs to be adjusted or changed for you to reach your goal. This course emphasises the importance of action, based on theoretical knowledge. Theories of entrepreneurship and innovation thus give you a basis for finding appropriate methods and models for starting and running your own business.

Learning outcome
This course will provide an insight into and understanding of the activities and processes that will enable you to set up a business.
Knowledge:
- The participants will understand the role of the business plan
- The participants will understand the dynamics in the business plan process
Skills:
- The participants will learn how to develop a business plan
- The participants will understand which elements are important for a startup
- The participants will understand how the difference in startups will influence the business plan process
Reflections:
- The course will contribute to the participants understanding of the importance of a throughly considered valuesystem for the enterprise

Prerequisites
No particular previous knowledge is needed, but participants should have an idea which they want to test out or a business which they want to develop.

Compulsory reading
Books:
Hovland, Nils Per. 2012. Entreprenørskap og innovasjonsledelse. 2. utg. Cappelen Damm akademisk
Utgård, Odd og Helge Refsum, red. 2007. Fra idé til ny virksomhet : en håndbok for nye vekstselskaper. 2. utg. Universitetsforlaget. 279 sider

Recommended reading

Articles:
Aktuelle artikler og sjekklister for tester og utvikling

Course outline
Entrepreneurship, definitions and characteristics, development trends, how to organise a commercial enterprise.
The business plan as a framework for the processes. Formal requirements for setting up a business; the stakeholder perspective. The purpose of the business plan.
Business concepts. What is needed in the concepts, understanding the interaction between product, market and customers.
Company development, professional perspectives.
Strategies when starting your own business. Startup, acquisition, takeover.
Sources of funding and investor logic.
Financial management and control, budgeting, risk and insurance, pricing and credits, liquidity management.
Protection of ideas, trademarks and products.
Entrepreneurial activities and the good helpers.
Management bodies. The board as a service or a control function. The resource perspective and the control perspective. The board as a strategic player. The law.
Management and organisation. Organisation theory, network organisation and intellectual capital.
Growth dynamics, how to manage growth businesses.

Computer-based tools
itslearning

Learning process and workload
This course consists of modules and will take place over six days, each with six hours, 36 hours in all. The lecturers will be illustrating the theories with practical examples. During the course, the students will be encouraged to present their ideas and plans in order to receive feedback that supports their learning process and the work on their business plans. Students are also encouraged to participate in group discussions. The learning process will be supported by the tutor, who will also be available on the web through BI’s own setup for this.

Participation in the lectures 36 hours
Preparation for lectures 80 hours
Term paper 54 hours
Written tasks 15 hours
Individual work/group work 15 hours


Examination
The students will be process-evaluated (7,5 credits) through the following activities:
Part 1:
Developing a business plan of up to 20 pages less appendices. This part of the evaluation counts for 60 per cent of the total grade.
The written work will be presented verbally, as part of the exam. Up to three students may work together on one plan. The exam paper will be given out on the first day of the course, and the paper must be handed in one week after the completion of the course.
Part 2:
The work will be presented verbally after the third day of the course, in the following manner: The students are given 15 minutes to present their work, and then the external examiners have five minutes to ask questions. For the final five minutes the external examiners will be giving their feedback. This part of the exam counts for 40 per cent of the total grade.

On the course certificate, one overall grade will be given for the process evaluation.

Examination code(s)
BIK 29031 How to start and run your own business, process evaluation. The exam counts 100 per cent for achieving an approved grade in the course BIK 2903, 7,5 credits.

Examination support materials


Re-sit examination
Re-takes are only possible at the next time a course will be held. By process evaluation, the whole course must be entirely re-evaluated when a student wants to retake an exam.

Additional information