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2015/2016 KAN-CCMVV4007U Strategic Decision Making in Entrepreneurship
| English Title | |
| Strategic Decision Making in Entrepreneurship |
Course information |
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| Language | English |
| Course ECTS | 7.5 ECTS |
| Type | Elective |
| Level | Full Degree Master |
| Duration | One Semester |
| Start time of the course | Autumn |
| Timetable | Course schedule will be posted at calendar.cbs.dk |
| Study board |
Study Board for MSc in Economics and Business
Administration
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| Course coordinator | |
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| Kontaktinformation: https://e-campus.dk/studium/kontakt eller Contact information: https://e-campus.dk/studium/kontakt | |
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| Last updated on 02-03-2015 | |
| Learning objectives | |||||||||||||||||||||||
| To achieve the grade 12, students
should meet the following learning objectives with no or only minor
mistakes or errors: To be awarded the highest mark (12), the
student, with no or just a few insignificant shortcomings, must
fulfill the following learning objectives.
In analyzing a given case the student should be able to:
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The quality of decisions made before embarking on an entrepreneurial venture and in the early stages of that venture have implications for achieving both the short-term and long-term goals of those involved in the venture. Typical strategic decisions include, for example: Whether or not to start a new organization or venture, and if so, when? Whether to go-it-alone or with partners? If with partners, who? and, how to divide responsibilities and equity? Whether to hire others and if so, what skill sets are needed? Whether to accept a job in an entrepreneurial organization? Whether to seek investors and if so, what kind?
In this course we will use a case-based learning approach augmented by lectures as well as readings from the textbook “Founders’ Dilemmas” (Norm Wasserman, 2012) and readings from the fields of decision science and behavioral decision theory to examine difficult strategic decisions commonly faced in the early stages of entrepreneurial activities. We will explore how cognitive processes and limitations, decision biases, and other factors such as risk perceptions and emotions impact decision processes and decision quality. We will consider ways for individuals and teams to improve decision quality using methods and tools found in decision sciences. The aim of this course is not to convey what the “right” decisions are; the aim is to help students improve how they approach, structure, and make difficult, complex decisions that entrepreneurs often face, in order to have better outcomes in both the short and long term. |
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| Teaching methods | |||||||||||||||||||||||
| Class sessions adhere to a case-based teaching approach, with supportive lectures as appropriate. To gain the most benefit from class sessions, students should be prepared to take active part in discussions and contribute with their unique insights to enhance the learning of the entire class. Therefore, students are asked to read required class materials and to consider the assignment questions before each session. Students may find it beneficial to discuss the assignment questions in small groups before the class meets. | |||||||||||||||||||||||
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Tentative Literature, to be finalized on course syllabus Textbook Wasserman, Noam. The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls that Can Sink a Startup. Princeton University Press, 2012.
Academic Literature Carr, Jon C., and Daniela P. Blettner. "Cognitive Control Bias and Decision-Making in Context: Implications for Entrepreneurial Founders of Small Firms." Frontiers of Entrepreneurship Research 30.6 (2010): 2. Simon, Mark, Susan M. Houghton, and Karl Aquino. "Cognitive biases, risk perception, and venture formation: How individuals decide to start companies." Journal of business venturing 15.2 (2000): 113-134. Keh, Hean Tat, Maw Der Foo, and Boon Chong Lim. "Opportunity evaluation under risky conditions: The cognitive processes of entrepreneurs." Entrepreneurship theory and practice 27.2 (2002): 125-148. West, G. Page. "Collective cognition: When entrepreneurial teams, not individuals, make decisions." Entrepreneurship Theory and Practice 31.1 (2007): 77-102. Lovallo, D. & Kahneman, D. 2003. Delusions of Success: How Optimism Undermines Executives’ Decisions, HBR, 81(7), pp.56-63. Merton, 2013. Innovation Risk: How to make smarter decisions. HBR, April, 2013, Hastie and Dawes, 2010. ‘What is decision making?’ in Rational Choice in an Uncertain World, 2nd ed., Chap 2, pp 23-43. Thousand Oaks: Sage. Tversky A., and Kahneman, D (1971). Belief in the Law of Small Numbers. Psychological Bulletin, 76(2), pp. 105-110 Sarasvathy, Saras D., and Nicholas Dew. "Entrepreneurial logics for a technology of foolishness." Scandinavian Journal of Management 21.4 (2005): 385-406.
Possible Cases: Big to Small: The Two Lives of Barry Nalls Noam Wasserman; Rachel Galper SchmidtCo (A) John S. Hammond VeeV on the Rocks? Joshua D. Margolis; Christopher Marquis; Laura Winig Playing With Fire at Sittercity (A) Noam Wasserman; Rachel Gordon Savage Beast (A) Noam Wasserman; LP Maurice Blink Booking William R. Kerr; Magnus Thor Torfason; Alexis Brownell Negotiating Equity Splits at UpDown Noam Wasserman; Deepak Malhotra Tokyo Jane (Not in the HBS packet) Rob Austin and Dana Minbeava
Founder-CEO Succession at Wily Technology Noam Wasserman; Henry McCance iPremier (A): Denial of Service Attack (Graphic Novel Version) Robert D. Austin; Jeremy C. Short |
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