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2023/2024 KAN-CMIAO1006U Growth and Entrepreneurial Strategies
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| Growth and Entrepreneurial Strategies |
Course information |
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| Language | English |
| Course ECTS | 7.5 ECTS |
| Type | Mandatory |
| Level | Full Degree Master |
| Duration | One Quarter |
| Start time of the course | Spring |
| Timetable | Course schedule will be posted at calendar.cbs.dk |
| Study board |
Study Board for cand.merc. and CMIA
(CMIA)
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| Last updated on 30-06-2023 | |
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| Learning objectives
The goal of this class is to establish a strong link between theory and practice, in particular learning theories and applying them in contexts to grasp the essence of their foundations and to explore useful applications To be awarded the highest mark (12), the student, with no or just a few insignificant shortcomings, must fulfill the following learning objectives: Understand the main theoretical assumptions and rationales behind strategic decision making processes for growth. Analyze the competitive landscape in relation to an industry and/or market. Understand and apply growth strategy models to specific cases and discuss the implications. Reflect on value creation and synergies of growth strategies |
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PROGRAM IN DETAILS AND SESSIONS 1. Introduction to the course and to Diversification Introduction to the course contents, methodology. Introduction to Diversification Strategies Objectives: Motives of corporate diversification. How to plan a successful diversification strategy. Diversification and Performance.
2. Growth and strategic models Models of growth and their fit with models of industry and technology dynamics. Exit options and shake-outs. Objectives: Identify growth and entry opportunities at different stages of industry technology cycles.
3. The five fundamental entry strategies How IP impacts strategic choices. Entry strategies 1 and the non-entry option. Objectives: Fitting firm and IP strategies to growth and entry options.
4. Entry strategies II, Judo strategy -- entering the product market and growing the new firm Product markets vs markets for ideas. How to deter attacks from incumbents using strategic alliances and mutual forbearance. Objectives: Balancing own expansion while avoiding attacks. Action choices for the new firm.
5. Strategic decision making by boundedly rational agents in organizations 1: The individual level How are strategic decisions defined and what are their particularities/challenges? What are the theoretical foundations of individual level strategic decision making? Rational choice vs. Behavioral limitations. How do individual level biases map to the strategic decision making process? What are heuristics and biases? Which techniques help to overcome behavioral limitations in strategic decision making? Decision tree
6. Strategic decision making by boundedly rational agents in organizations 2: The organizational level How do organizations (defined as social entities) affect individuals’ behavioral limitations? What is the difference of strategic decision making by individuals vs. organizations? Which tools can be used to improve strategic decision making in organizations. Frameworks in general. Choice architecture
7. Managing corporate growth: The growth corridor Why is growth essential for the survival of organizations? What are the (upper and lower) limits of growth? How to determine a growth corridor, which helps to determinate growth boundaries of an for-profit organization
8. Competitive dynamics in digital markets What are digital markets? What types of digital markets we have? How do they differ from traditional markets”? How to think about market boundaries and competition in digital markets? What are the competitive strategies in digital markets and how do they differ from competitive strategies in traditional markets? Objectives: Difference of digital markets and traditional markets. How to assess competition in digital markets. How to design competitive strategies in digital markets
9. Platform-based disruption of traditional sectors What is platform disruption? Platform disruption vs. Disruptive innovation. Types of platform disruption. Pre-conditions and predictors of platform disruption Objectives: When are incumbent firms most likely to be disrupted by platforms. What is platform disruption and how it unravels. Predictors of platform disruption.
10. Ecosystem design and strategy Ecosystems: what they are and why they matter. Ecosystems vs. platforms. Ecosystem emergence and strategy. Strategies for leveraging ecosystems Objectives: Ecosystems: understanding the firm’s broader environmental context. How to design a successful ecosystem strategy: building your own ecosystem vs. playing in others’ ecosystems
11. Corporate Entrepreneurship + Course Wrap-up Innovation in large incumbents. Corporate Venture Capital Objectives: Understand the innovation challenges in large organizations. Introduction to collaborations between large firms and startups via equity investments.
TUTORIALS 1. IP Strategy IP strategies for my project -- patent and trademark searches. Objectives: Being able to quickly find information about what others do in your product category. Understanding if you have the right to practice
2. Platforms Platform design (how to design a platform business model) Ecosystem design (how to design an ecosystem structure) Objectives: Actionable tools to design platform business model and ecosystem strategy 3. Decision-Making Experiments on bounded rationality in organizations Experiments on decision-making biases Objectives: Understanding decision-making biases |
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| Description of the teaching methods | ||||||||||||||||||||||||||||||
| The course will be a balanced format between theory and case discussion. | ||||||||||||||||||||||||||||||
| Feedback during the teaching period | ||||||||||||||||||||||||||||||
| Feedback activity 1:
Signed case with few questions that students have to “solve” (this is a mini case/problem where students will have to apply the concepts and theories learned in class to propose their management solution). Students work in teams of 5 and will prepare a short presentation (5 min max) following the structure provided by the instructor to present their solution and motivate it Each group will receive a dedicated feedback. Feedback activity 2: Case exercise in groups. In groups of 3-5 students, discuss the questions asked. Using models from this course as well as previous courses, systematically analyse the questions and write up to 5 pages/group. Each group will receive a dedicated feedback. |
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