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2016/2017  KAN-CSIEO2020U  Entrepreneurship and Innovation in Context

English Title
Entrepreneurship and Innovation in Context

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Quarter
Start time of the course First Quarter, Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for MSc of Social Science
Course coordinator
  • Ellen Mølgaard - MPP
Main academic disciplines
  • Entrepreneurship
  • Innovation
Last updated on 12-08-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Account for knowledge of the course’s theories of innovation and entrepreneurship. 

  • Discuss the role of innovation and entrepreneurship in society. 

  • Reflexively apply the course’s theoretical positions in case analysis. 

  • Discuss the role of method for practicing knowledge creation with an innovation and/or 
entrepreneurship objective. 

Examination
Entrepreneurship and Innovation in Context:
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual exam
Assignment type Case based assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Autumn
Aids allowed to bring to the exam Limited aids, see the list below:
  • Notes in paper format brought by the examinee
  • All dictionaries
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Course content and structure

Course Purpose and Content

The entrepreneurial process – be that the creation or the successful growth of a venture – is complex, fundamentally affected by uncertainty and involving risk. It is inescapably embedded in a specific context of time and place, framing the conditions and setting the limits of the process. For the entrepreneur the creation of a venture involves the construction of opportunity, the exploitation of resources as well as the ability to analyze market conditions and not least to make strategic decisions. In this course we will explore the context of the entrepreneurial process and the conditions it sets for making decisions and we will investigate entrepreneurial decision making in detail.

 

In the first part of the course we will encounter a handful of entrepreneurs acting in different industries, all trying to make new markets for their products during moments of great technological, managerial and demographic transitions. Acting within a particular historical context, each of the people succeeded in creating mass demand for new products. To accomplish this objective, each also built effective organization capable not only of meeting customers' needs profitably at a specific moment, but of continually anticipating and responding to these preferences as they developed and the broader environment changed.

 

In the second part of the course we will dive further into strategic decision making in entrepreneurship and encounter a handful of entrepreneurs acting in the complex setting of today. 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 copy someone else's idea or start with your own? Whether to seek investors and if so, what kind? These decisions, as well as decisions that come with growth, can have short-term and long-term consequences. The consequences might be expected or unexpected and surprising.  These can affect not only the founder(s) and the economics of the venture, but also other stakeholders including family, employees, investors, boards of directors, share-holders, business partners, and more. 

 

In this course we will use a case-based learning approach supported by lectures and readings from the fields of entrepreneurship and innovation theory to examine how moments of rapid, widespread socioeconomic change affects entrepreneurial opportunity; to examine how in such periods of change some have succeeded in exploiting new business opportunities; and to investigate how these opportunities grew into enduring, strategically effective organizations.

Also we will explore how cognitive processes and limitations, decision biases, and other factors such as risk perceptions impact decision processes and decision quality in the entrepreneurial venture. In focusing on decision making our learning will be augmented by lectures and readings on decision science and behavioral decision theory to examine the strategic decisions commonly faced in the early stages of entrepreneurial activities as well as decisions that often arise as ventures grow. 

Teaching methods
The teaching is case-based, with supportive lectures as appropriate. This means that much of the learning will take place through student discussion. 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 cases prior to the session and to thoughtfully consider their ideas related to relevant assignment questions. Most students are not able to simply read a case and see what is important about it; that is the reason you are asked to thoughtfully consider the assignment questions. Students may find it beneficial to discuss the assignment questions in small groups before the class meets.
Student workload
Course activities (including preparation) 165 hours
Exam (including exam preparation) 41 hours
Last updated on 12-08-2016