• synthesize the development of different capitalist societies and identify differences and commonalities based on the required reading
• explain and compare different theories of entrepreneurship
• discuss the organizational theories introduced during the course and relate them to empirical information
• analyze case studies by breaking up the sum of information into constituent parts, identify relevant aspects of the situation and study the relationship of the parts to the whole; formulate questions applying relevant theory
• compare different ways how businesses and entrepreneurs interact with their political and cultural context
• apply theories and frameworks (based on the required reading) to a given situation and develop arguments based on those lines of thinking
• evaluate dilemma situations of entrepreneurs, hypothesize about different courses of action and their outcome

The course gives a framework for understanding the role of entrepreneurs in shaping global capitalism over the last two centuries. Through a combination of lectures and case study discussions the students will be introduced to the history of entrepreneurs and firms from different countries and industries. Placing business in a broad political, economic and cultural context, the course explores the challenging decisions and ethical dilemmas entrepreneurs have faced in different historical settings.
Students will learn about the characteristics of different ”varieties of capitalism” and the challenges and opportunities related to them. They will probe analytical tools to identify and make sense of relevant context factors and will consider the changing roles of regulators and different groups of stakeholders.

Four major themes will be discussed in the course: (i) the growth of business and the different paths available to entrepreneurs; (ii) varieties of ownership structures; (iii) the role of entrepreneurs in various political regimes; (iv) waves of international integration/disintegration and the challenges of global business in different regional and local settings.
 
Theory: The course will introduce theories of entrepreneurship (Schumpeter, Casson, Ruef) as well as organizational theories (Chandler, new institutional economics). It discusses the merits and limitations of analytical frameworks, such as Porter’s five forces.
 
Research-Based Teaching: The course includes discussions of different varieties of capitalism (US, UK, Denmark, Germany, India among others) based on the lecturer’s recent research. It is planned to include a guest lecture by an expert.

Compulsory reading:

Compendium
Harvard Business School cases, which will be included in the compendium or made available for download
 
Recommended further reading:

Jones, Geoffrey. Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford, New York: Oxford University Press, 2005.

McCraw, Thomas K. Creating Modern Capitalism: How Entrepreneurs, Companies, and Countries Triumphed in Three Industrial Revolutions. Cambridge, Mass.: Harvard University Press, 1997.

Fellman, Susanna, Martin Iversen, Hans Sjögren, and Lars Thue, eds. Creating Nordic Capitalism: The Business History of a Competitive Periphery. Houndmills: Palgrave Macmillan, 2008.