APPLIES TO ACADEMIC YEAR 2016/2017

GRA 3136 New Venture Creation

Responsible for the course
Thomas Hoholm

Department
Department of Strategy

Term
According to study plan

ECTS Credits
6

Language of instruction
English

Introduction
New Venture Creation is about the actual process of starting and growing a new venture, as well as harvesting it. Knowledge and tools related to the entrepreneurial process, including business ideas, entrepreneurial marketing strategies, and business models, are central to the successful development of profitable new companies. This course will provide the students with basic models and tools for new venture creation, as well as practical experience in developing a convincing business concept and plan. Participation in an event like Innovation Camp or Startup Weekend (or other business plan competitions) will be one of the highlights of the learning process.

Learning outcome
Knowledge:
The course will form a basis for advanced studies in the field
The students will be given an overview and framework of start-ups, entrepreneurship, entrepreneurial organization, and governance issues in small firms
The students will be trained in firm level approach thinking
Skills:
The students will learn basic elements in how to start a business and to make a business plan
The students will be trained in how to present business ideas
Reflection:
Through examples of Corporate Social Responsibility, the students' attitudes and ethical reflections should be strengthened

Prerequisites

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have spesific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Compulsory reading
Books:
Casson, Mark ... [et al.]. 2006. The Oxford handbook of entrepreneurship. Oxford University Press. Selected chapters
Evers, Natasha, James Cunningham, Thomas Hoholm. 2014. Technology entrepreneurship : bringing innovation to the marketplace. Palgrave Macmillan

Other:
A list of compulsory readings will be provided on It's learning or in class.
During the course there may be hand-outs and other material on additional topics relevant for the course and the examination.
Teaching materials including three HBS cases and a selection of scientific articles. A copied compendium will be available at cost price at the start of the semester


Recommended reading
Books:
Anupindi, Ravi ... [et al.]. 2012. Managing business process flows : principles of operations managment. 3rd ed. Pearson Eduaction
Osterwalder, Alexander and Yves Pigneur. 2010. Business model generation : a handbook for visionaries, game changers, and challengers. Wiley
Ries, Eric. 2011. The lean startup : how today's entrepreneurs use continuous innovation to create radically successful businesses. Crown Business
Wilmerding, Alex. 2001. Term sheets & valuations : a line by line look at the intricacies of term sheets & valuations. Aspatore Books. Readings from this book will be included in a compendium

Articles:
Bhide, Amar. 1994. How entrepreneurs craft strategies that work. Harvard business review. pp. 150 ff.
Bhide, Amar. 1996. The questiones every entrepreneur must answer. Harvard business review
Govindarajan, Vijay, Chris Trimble. 2005. Building breakthrough businesses within established organizations. Harvard Business Review. 59 ff.
Sahlman, William A. 1996. Some thoughts on business plans : internet wicked ale. Harvard Business School

Other:
Kaplan, Steven, Berk A. Sensoy, Per Strömberg. 2005. What are firms? Evolution from early business plans to public companies. No. 11581. Centre for Economic Policy Research. NBER Working Paper No. 11581


Course outline
Entrepreneurial strategy and management
How to structure a business plan
The essence of a good operational strategy
Incorporation - choosing a legal structure
Entrepreneurship and motivation - people in the organization
Building budgets and economic forecasts
Intellectual property theft
Venture capital.

Computer-based tools
Not applicable

Learning process and workload
A course of 6 ECTS credits corresponds to a workload of 160-180 hours.
The course will be given with a combination of lectures, discussions, presentations, and participation in a business plan competition.

A syllabus to be handed out at the beginning of the semester outlines the course of the sessions and the teaching objectives associated with each session.

Please note that while attendance is not compulsory in all courses, it is the students responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.

At the beginning of the course, students are required to submit a business idea, that is an idea of a need that is currently not met in a satisfactory manner and a way of addressing that need. This can either be the student's own idea, or a business idea under development by an early phase start-up. Pursuing this idea through a business plan process is a central teaching technique. Students are strongly encouraged to consider such ideas even prior to the beginning of the course in order to get full effect of the teaching.


Examination
The course grade will be based on the following activities and weights:
1. Term paper (70%) Business plan has to be written in a group of max 3 students (in special circumstances individually). The business idea and the planning process are to be presented to the other students in the 6th week of the term (compulsory).
2. The students will be graded on the oral group presentation of the business plan and on individual participation in class (20%).
3. Participation in a business plan competition (information will be given at the first lecture) is obligatory and will be graded based on the contribution to the group process and the final presentations (10 %).