| Learning objectives |
- Identify and formulate the challenges and potential of newly
established firms
- Identify potential realistic stakeholders for a newly
established firm
- Take an active part of planning and developing a firm
- Enter into a critical discussion of the taught materials and
combine these with the purpose of conducting an investigation into
a SME
- Investigate and write/revise a business plan
- Present a business plan both in written and verbal form based
on the students own investigation and reflections
- Account for and critically evaluate different forms of business
models
|
| Course prerequisites |
Course prerequisite/Progression:
This course is the foundation for understanding the fundamental
principles of
planning and action among newly established firms. It builds on the
principles of
business economics, microeconomics, organizational theory and
managerial
economics. The course is complementary with the other two courses
in the
minor in entrepreneurship (Entrepreneurial Finance and
Entrepreneurial
Strategy). The course is also a more practical orientation of the
core courses
taught at the earlier semesters on the bachelor. |
| Examination |
|
Business
Planning and Development:
|
| Exam
ECTS |
7,5 |
| Examination form |
Oral exam based on written product
In order to participate in the oral exam, the written product
must be handed in before the oral exam; by the set deadline. The
grade is based on an overall assessment of the written product and
the individual oral performance. |
| Individual or group exam |
Individual oral exam based on written group
product |
| Number of people in the group |
2-5 |
| Size of written product |
Max. 20 pages |
|
Individual: max 10 pages
Group with 2-3 members: 15 pages
Group with 4-5 members: 20 pages |
| Assignment type |
Case based assignment |
| Duration |
Written product to be submitted on specified date and
time.
20 min. per student, including examiners' discussion of grade,
and informing plus explaining the grade |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and second internal
examiner |
| Exam period |
Autumn |
| Make-up exam/re-exam |
Same examination form as the ordinary exam
If a student participated in writing
the written product, but was sick at the time of the oral
examination, the re-examination will be based on a resubmission of
the original written product.
If a student participated in writing the written product, but did
not pass the oral examination, the student can choose either to
resubmit the original written product or to write a new, individual
written product within a specified time period.
|
Description of the exam
procedure
Oral exam based on written product and a randomly drawn
theoretical question from the taught
syllabus.
|
|
| Course content and structure |
|
Course Description:
Entrepreneurship involves among other things development of ideas
and the
creation of a new firm. Founders and startup teams often believe
that planning
or development beyond the initial paperwork is a waste of time.
Planning in such
settings are often ad hoc and something that takes place in the
spur of the
moment. Most newly established firms do not even have a formal
statement that
expresses their business opportunity. They often cannot account for
what makes
the opportunity sustainable/unique, what the firm’s goal is, or how
this goal will
be realized. Such reflections unfortunately are only considered
once the firm is
need of external capital. Even then such reflections tend to be
superficial.
It is possible that action is more important than planning in newly
started
firms. The ability to assess a newly started firm critically and
formulate formal
plans is nevertheless of the utmost importance. It basically allows
the
entrepreneur or the team to present the opportunity, the product,
the plan and
the vision in a convincing fashion. This is essential for
attracting external funding
both at the early and later stage of development. It also allows
the entrepreneur
and the entrepreneurial team to better secure other stakeholders
necessary for
developing the firm. The overall goal of this course is to give
students the
necessary tools and competences that allow them to write meaningful
and useful
business plans. To ensure that students have an understanding for
the different
business models and how these fits into the business plan. The goal
is to give
students practical and theoretical insights and tools for
conducting in-depth
invitations into new businesses and business opportunities and to
develop
business plans that are reflective, credible and meaningful.
Course Contents:
The entrepreneurs or the startup team is the focal point of the
course. The
course consists of two integrated parts. First, lectures and
dialogue about
theoretical and empirical studies giving the students the
foundation to
understand business planning. Second, exposure to exercises
allowing students
to reflect and discuss details of the taught materials. These
exercises are a
combination of hypothetical examples and business plans used to
establish new
businesses. The lecturers are organized so that they refer to
specific parts of a
business plan. This allows students to focus on a narrowly defined
subject and
not creating excess complexity in each lecture. Integration with
guest lecturers
allows students to test the taught theory and literature against
experience.
|
| Description of the teaching methods |
Teaching methods:
The course consists of interactive lectures, guest lectures by
Copenhagen School
of Entrepreneurship (CSE), and entrepreneurs presenting their views
and
perspectives. The course primarily relies on traditional lectures
but is heavily
coupled with examples to illustrate key points and learning
objectives.
Specifically with regard to business models and business planning.
This
combination ensures an efficient balance between theory and
practice. |
| Feedback during the teaching period |
| Office hours for feedback |
| Student workload |
| Lectures and exercises: |
166 hours |
| Exam: |
40 hours |
|
| Expected literature |
|
• Barringer, B. R. (2015). Preparing Effective Business Plans – An
entrepreneurial Approach. Pearson Education Limited
• Sahlman, W. (1997), “How to Write a Great Business Plan”, Harvard
Business Review, July-August 1997, pp. 98-108.
• Kirsch, D., Goldfarb, B., & Gera, A. (2009). Form or
substance: the role of
business plans in venture capital decision making. Strategic
Management
Journal, 30(5), 487-515.
• Delmar, F., & Shane, S. (2003). Does business planning
facilitate the
development of new ventures?. Strategic Management Journal, 24(12),
1165-1185.
|
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