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2021/2022  KAN-CSOCV1037U  Entrepreneurship and Innovation - a Business Game

English Title
Entrepreneurship and Innovation - a Business Game

Course information

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
Max. participants 60
Study board
Study Board for MSc in Social Sciences
Course coordinator
  • Stefan Schwarzkopf - Department of Management, Politics and Philosophy (MPP)
Main academic disciplines
  • Entrepreneurship
  • Innovation
  • Strategy
Teaching methods
  • Blended learning
Last updated on 08-02-2021

Relevant links

Learning objectives
  • Practical experiences of the innovation and entrepreneurial process
  • Co-creating a minimum viable product (MVP) in a group
  • Reflecting on the different stages of business plan development
  • Developing skills for testing the viability of business plans and minimum viable products
  • Demonstrating effective entrepreneurial communication skills (e.g. via pitches, road-maps, etc)
  • Fundamentals of investment decision-making in new product ventures
Entrepreneurship and Innovation - a Business game:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Max. 10 pages
Assignment type Report
Duration 48 hours to prepare
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Winter
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content, structure and pedagogical approach

In this course, we will play out the game of being entrepreneurs with the aim to increase students' experientialunderstanding of entrepreneurial and innovation processes. We will take our starting point in entrepreneurship and innovation theory in order to take groups of students through the innovation process in four phases: 1) developing new ideas and learning to prioritize and choose between them; 2) strategic planning for implementing the new idea in a given setting, by identifying possible drivers and barriers to the new idea; 3) developing, reinventing and prototyping the idea by formulating a strategic plan for testing the new idea while taking feedback from the market into consideration; and 4) diffusing the idea by creating traction in a target market (go-to-market). In that process, students will engage with theories and practices related to innovation, entrepreneurship, product development, business development, and marketing- and business strategy.  


The course is based on a business game platform that will enable students to apply theories of entrepreneurship and innovation in a practical setting. Within this setting, students will learn how to generate, implement, reinvent, and diffuse new solutions, and how to write a business plan that helps a business venture gain traction and achieve product-market fit. Working in small teams throughout the course, students will learn to become successful entrepreneurs by developing a minimum viable product (MVP) and commercializing it on a simulated stock market while also being faced with the feedback of that very same market. At the end of the process, students will have created a new product or solution along with a step-by-step business plan to market it. Throughout the course, our focus will be on providing students with a general understanding of the key factors of entrepreneurship and innovation theory, and on practically applying the course literature in a competitive, real-time context.   

Description of the teaching methods
The course is created to be an experience space. Based on Blended Learning principles, the course aims at creating a transformative learning environment wherein students actively discuss and experiment with theoretical approaches, business models and entrepreneurial tools, and pitch product ideas and new solution to each other. This experience will start with students forming groups and developing ideas for a viable business, product or service. This output is then presented on a stock market simulation platform where the same students take on the role of individual investors who buy, sell and manage portfolios of the products listed. This provides a continuous market-based feedback loop and motivates the groups to develop their ideas to even greater refinement. Thus, students will oscillate between an entrepreneurial mode (groups developing ideas, products and business plans) and an individual investor mode where they continuously evaluate the very same projects and provide their feedback in the guise of investment choices. At the end of the process, students have will have created a new product idea along with a step-by-step business plan to market it.
Feedback during the teaching period
Teacher and group feedback on presentations and product ideas (pitches)
Workshop-based discussions in class
Peer to peer (‘stock market’) feedback on MVP’s during exercises
Student workload
Lectures and Workshops 50 hours
Project work 120 hours
Exam / Exam Preparation 40 hours
Expected literature

Indicative Literature List: 


  • Olsen, D. The Lean Product Playbook:How to Innovate with Minimum Viable Products and Rapid Customer Feedback. Wiley 2015.
  • Hazi, C., Ten Product Validation Experiments:The Guide To Validation And Minimum Viable Products (MVP). PublishDrive 2020.
  • Osterwalder & Pigneur, Business Model Generation (The Business Model Canvas). Wiley 2010.
  • Searle, N., White, G., ‘Business Models’, In: Handbook of the Digital Creative Economy. Edward Elgar 2013, pp. 45-56.
  • Blank, S., & Dorf, B. The Startup Owner’s Manual: The step-by-step guide for building a great company. Wiley 2020.
  • Reis, E. The Lean Startup. Crown Business 2011.
Last updated on 08-02-2021