Syllabus

This syllabus was replaced May 25, 2009. Link to the new syllabus: http://www.usbe.umu.se/utbildning/kursplaner/2fe146_090525.pdf

Entrepreneurship, Dynamics and Business Venturing D, 30 ECTS
Entreprenörskap och affärsutveckling i föränderliga affärsmiljöer D
Credit points: 30 ECTS/30 hp Course code: 2FE139 Responsible Unit: Umeå School of Business Subject: Business Administration Level: Advanced (D) Subject area/Field of education: Social Sciences Grading scale Fail-Pass-Pass with distinction This is a course at the D-level in a Msc-degree at Umeå University. The course can also be included in study programs in Business Administration and Economics at Umeå School of Business.

1.

Confirmation

The course is established by the Faculty of Social Sciences at Umeå University and the syllabus was confirmed by the Board of Umeå School of Business on May 21, 2008. The syllabus is valid from September 1, 2008.

2.

Contents

The core course consists of four modules, which will be further described below: Module 1. Innovation in Changing Business Environments, 7.5 ECTS Module 2. Dynamic business settings, 7.5 ECTS Module 3. Entrepreneurial Activity and Business Venturing, 15.0 ECTS

Module 1. Innovation in Changing Business Environments, 7.5 ECTS
In order to innovate, entrepreneurs must develop the ability to recognize opportunities during periods of industrial and social change: emerging and declining markets and industries, and changes in values and regulations. Also, to ensure survival and growth, the entrepreneur must have an understanding of the business environment in order to identify opportunities and threats that might affect current and future prospects for the organization. This first module introduces the program in general, and introduces the first semester of the program in particular. Therefore a range of concepts central to the program will be introduced at the start of this module, such as innovation and creativity, entrepreneurship, the process of entrepreneurship, etc, in order to outline a framework on which the later modules of this course will build. The module will then address the issue of innovation and opportunity recognition on different types of markets. In particular, focus will be directed at the first stage of the entrepreneurial process, namely the identification of entrepreneurial opportunities and how they are related to micro level conditions on the market, such as competition and consumer preferences. Thereafter, the module will focus on the macro business environment. Business development and entrepreneurship cannot be properly understood without considering the economic, historical and institutional settings in which they operate. The development of the macroeconomic environment determines the long term strategic framework for firms. Structural change in the economy, stemming from, for example, technological change or changing demand exemplified by a more service-oriented economy have direct and indirect effects on markets and can provide new opportunities for businesses. Institutional transformation can have a similar effect, either by opening or widening new markets or by narrowing and regulating the framework within which business opportunities are created. In order to understand how business opportunities emerge in the modern western business context, it is therefore necessary to study the interaction between state and market. Issues such as general attitudes towards entrepreneurship, government and non-government institutions and business laws and regulations, etc,

group-dynamics and conflict-solving. The focus is here placed on practical analysis of business ideas.. This module concentrates on different types of dynamic entrepreneurial settings . students should be able to: • describe and analyse the nature of the macro and micro environments of importance to entrepreneurial activity • analyse for driving forces behind dynamism and change in today’s business contexts in relation to practical entrepreneurship • outline the process of entrepreneurship and analyse business opportunities • reflect upon how one’s own behaviour contributes to the group dynamics and creativity in team work • provide oral and written presentations at a master’s level Focus of instruction A mix of lectures and seminars will be used and the teaching is characterized by a strong emphasis on student activity. and distinctive characteristics of the three different markets (Sweden. industrial districts.U. Finland. In the last part of the module.including clusters. is action based learning (or learning by experience). business networks and resource clustering and these phenomena’s strategic importance for early and dynamic business development processes play an essential part. awareness of changes in the macro and micro environment will give the students ability to identify opportunities in a business setting. Module 2. a modern view of innovation emphasizes the role played by location in the process of innovation. clusters. Students must attend all seminars and presentations in order to pass the module. and venture capitalist. There will also be a comprehensive exam. plus a reflection assignment. innovation and entrepreneurial activity flourishes or struggles within a wider business context. technological fields. innovation systems.5 ECTS As identified in the previous module. Experience from practice and research emphasises the importance of local business multiplicity. ready access to physical resources. . students are introduced to the business development assignment that they will follow during the first semester. This assignment will include both practical analyses of real life business idea as well as reflection on the individual’ learning experiences. 7. networks. the module ends with the introduction of the business development assignment that runs throughout the semester. Research on business incubators. including a draft feasibility study. such as creativity. technological fields. Further. science parks. Common characteristics of the Nordic arena as a whole within the E. science parks and communities of practice . Expected learning outcomes: On successful completion of this module. Therefore. which may be examined verbally and/or in writing. This module therefore concentrates on different types of dynamic entrepreneurial settings . and Denmark). The business development assignment is examined via the writing and presenting of a project plan. industrial districts. This module first briefly focuses on the role of the national business system for creating the conditions which stimulate or restrict entrepreneurial activity and innovation from arising. networks. The concept of log book as a tool for reflection is introduced. innovation systems. and communities of practice – which provide different arenas for entrepreneurial activities and interaction between organizations.as the arena of organisation-level interaction in entrepreneurial activities. A core idea in the program.that support and surround entrepreneurship will be raised. will be introduced. In total. firms form varying degrees of dynamic business settings. both verbally and in written tasks. Dynamic business settings. Secondly. The student is expected to actively participate both individually and in small groups in the different seminars and tasks. there is a focus on activities supporting business development in teams. Through interaction over time. and in the written and oral presentations. See also note 6 below.including national business systems. Examination modes Comprehension and understanding of the course module content will be assessed in seminars and through case work. a regional labour market with a multitude of relevant professionals. educational and research institutions.

Creativity is in general considered to be the key concept for successful renewal and development in the commercial sector but also in the public sector. Key concepts are Creativity – Idea Generation – Idea development – Idea Conceptualization. and an integrating open-book written exam (so-called ‘home exam’). analyze. paper writing and the analysis of dynamic business settings. The theoretical review of creativity will be mirrored from an . a) the entrepreneur and different entrepreneurial activities. students should be able to: • identify common characteristics of the different Nordic business settings supporting entrepreneurial activity • describe and analyse the nature of different types of business settings. A main focus in the student’s learning process is placed on individual and group studies of the course literature. Focus of instruction The core topics of the module will be covered through introductory lectures. theories for early entrepreneurial development stages will be mixed with more practically oriented techniques and methods in order to facilitate and support learning and understanding. including clusters. and takes place in many different situations requiring various entrepreneurial roles. with comprehension and understanding of the course content aided through literature seminars and case seminars. • evaluate the support for entrepreneurial activities within specific dynamic business settings. This module provides an understanding of entrepreneurial characteristics and how they differ from country to country. Finally. Innovations can only lead to new products or new markets if an entrepreneur uncovers potential business opportunities.Finally. Here both networking and opportunity recognition are important factors and students will be provided with an understanding of the ways in which entrepreneurial activity can lead to new business venturing. group assignments. Entrepreneurs are often defined as individuals who develop new ventures or spin-offs from existing businesses. literature seminars. See also note 6 below. industrial districts. innovation systems. The teaching is characterized by a strong emphasis on student activity. As early entrepreneurial processes and how to generate and develop business ideas is a main focus of this module. 15. literature seminars. active participation in seminars. the module will introduce two factors contributing to the dynamism of different business settings. Students will also continue with the business development assignment during this module. a completed case assignment focusing on particular dynamic Swedish business settings. and on action-based learning. namely the role of competitive and cooperative relations in building dynamic contexts. The student is therefore expected to participate actively in all lectures. research made on business incubators both within companies and within an academic context and their strategic importance for early business development processes will be discussed. and the role of knowledge flows for dynamism in the local setting. Who is the entrepreneur? Research into entrepreneurship has placed strong emphasis on the individual’s psychological motives for engaging in entrepreneurial activity. Student presentations will include both oral and written presentations. Expected learning outcomes: This module aims to equip the student to identify. Students must attend all seminars and case presentations in order to pass the module. and coaching activities may be included. Module 3. • critically reflect on and develop knowledge from scientific articles • apply theoretical knowledge onto real-life business situation. Entrepreneurial activity and Business Venturing. a completed feasibility study of the business development assignment is examined.0 ECTS Current debate places strong emphasis on the necessity of entrepreneurship in different parts of business society. On successful completion of this course module. Examination modes The examination of this module comprises. The importance of situational factors such as limited work opportunities and the presence of new resource combinations as driving forces for entrepreneurship will also be discussed. This module has two main focuses. and strategically plan for entrepreneurial activity in dynamic business contexts. To get an understanding of idea generation and business venturing in different milieus. b) early entrepreneurial processes and how to generate and develop business ideas The module starts with the question. and case seminars. and technological fields. The examination may also include short discussion papers related to literature seminars designed to test the student’s grasp of concepts covered by course literature. Entrepreneurship entails renewal and change.

Expected learning outcomes On successful completion of this course module. sustainability. Finally. and combine the results with existing research to conclude on the viability of their business concept. the possibility for success for concepts. the process of idea development is emphasized. design – where it is important to determine the commercial strength. Expected learning outcomes Required knowledge See above under respectively module Universitet/högskola: Företagsekonomi C. The interplay between product idea and market needs and potentials is emphazised. seminar tutorials. market. A passing level of minimum 50% is required on the final mark. . consumer reactions. During the whole process. each group are supported by entrepreneurs.e.individual. These concepts must undergo a variety of tests – i. See also note 6 below. alertness. different dimensions of a business concept will be confronted via various market tests. or financial outcomes. from idea generation to the analysis and interpretation. detection. functionality. The students will also apply some methods intended to detect and “measure” individual creativity. The home assignment will be a report on the research done on the student’s entrepreneurial idea. In the final stage of the module. In the assignment the students shall use and analyze techniques for anticipating market possibilities. facilitation. Focus of instruction The accomplishment of the module is built on a combination of various teaching methods and learning activities. company as well as from society perspective. In the home assignment the students will describe their idea generation and idea development process. Examination modes Comprehension and understanding of the course module contents will be assessed in workshops. companies. Students will be organized in small groups or entrepreneurial teams focusing on either a given business idea or a business idea created in the group. that is to step-by-step add value to the first embryonic thoughts/initiatives in order to approach business ideas closer to commercialization. 4. from identification. entrepreneurial. 15 hp eller motsvarande. 3. simulations and role plays. Lectures and literature studies are the core teaching methods combined with case-studies and business simulations. Accounting and Finance courses. Attention will be given to group dynamics and individual development and reflection. the content of the three earlier modules will be merged and integrated into complete business concepts. University: Courses in Business Administration (75 ECTS) At Basic level (A-level) and Intermediate level (B-level) a minimum of 60 ECTS in Management. The home assignment should also contain a plan how to continue the business development in upcoming courses. business panel presentation and a home assignment. Students will setup their own market analysis and gain experiences with different data collection techniques. consumer panels. namely idea generation. and business acumen. Next. group. business angels and expertise organisations. a minimum 15 ECTS. and construction of potential business concepts to the exploitation of business opportunities evaluate the commercial potentials for business concepts Notice: This course module initiates the practical. At the C-level (Bachelor). simulations. and data analysis of focus groups in real or virtual environments. hands-on stream of courses that aim to build entrepreneurial competence by providing practical opportunities for acquiring creativity. The module continues by focusing on the output of creativity. experienced pros and cons of different techniques. students should be able to: • • • • • explore and follow the research front in early entrepreneurial processes use theoretical knowledge to analyze real-life business situations interpret and analyze their own creative potential and the use of creativity in early entrepreneurial processes understand and manage the entrepreneurial process. Marketing. Emphasis will be given to the design.

additional opportunities to complete the written examination normally arise every academic year one-week prior to the start of the autumn term. Students who do not pass the written examination will be offered a re-examination opportunity within 23 weeks. Academic credit transfer Academic credit transfers are according to the University credit transfer regulations. Student who has passed an examination can not redo the examination to get a higher grading. Focus of instruction Examination modes See above under respectively module See also above under respectively module. The following grading system is used: Pass with distinction (Väl godkänd. 7. compensating assignments must be completed in accordance with instructions given on each occasion. less than 50%). Rules and regulations concerning the production of academic texts and correct referencing will be applicable to all written assignments. Vg. To receive the grade Pass with distinction (Väl godkänd) in the course. 75% or more). he or she has a right to have another grading teacher. When a student has failed an examination on two occasions. Guest lectures during a module might be used as basis for examination. 5. 50% or more) and Fail (Underkänd U. the student must have achieved at least 75% of the total of points in the separate modules or the equivalent.Students are also required to have English A from Swedish gymnasium or the equivalent. Pass (Godkänd. G. A written request for an alternative examiner should be handed to the director of studies no later than two weeks before the next examination opportunity. . Grades on the course are awarded when students have passed all examinations and compulsory course elements. Beyond that. In case of failure on seminar participation or individual and group assignments. 6.

& Sölvell. Entrepreneurships Theory and Practice. S. Jan. Marlene (1994) “Fools rush in? The institutional context of industry creation. Reference literature Bloisi. "’Coopetition’ in Business etworks .to Cooperate and Compete Simultaneously". Marchesi H. 76-84. a step-by-step guide to creating new business ideas worth backing. 15 (1). Illar D.. & Fiol.dk/graphics/user/vc_swe/vc_swe_files/vc_swe_handbok/Handbook%20english. J. Kratzer. Ming-Huei (2006) “Understanding the Benefitrs and Detriments of Conflict on Team Creativity Process”. Curtis W. Switzerland. October. Summer 1994.inforce. Creativity and Innovation Management. Dynamic business settings. Human Systems Management.8. 411-426. 7. 198-213. & Bragg M (2005) Developing New Business Ideas. Research Policy. Harvard Business Review. pp299-330 Bengtsson. Wendy. & Hunsaker. Organization Science. Leenders. European planning studies vol 10 nr 4 pp 421-424. Howard E. Keinhuis H (1998) Starting up. Jan. (1999) Networking and division of labour – the case of industrial districts in the north east of Italy. Örjan (1997). Renée (2004) “Blue Ocean Strategy”.. Maria & Kock. including among others: Aldrich. Brown. & Ven Engelen. ‘Environments for Entrepreneurship: Key Dimensions and Research Implications’. W. (2007). Harvard Business Review.5 ECTS Course literature comprises a compendium of articles and book chapters. agglomeration and innovation: towards regional innovation systems in Norway?. 19 (4). J. McKinsey & Company. 29 (5). Course literature Module 1. L. Cook. Maidenhead: McGraw Hill Education. (2004) “Stimulating the Potential: Creative Performance and Communication in Innovation Teams”. 18. John Seely & Duguid. Chan & Mauborgne. including. "Knowledge and Organization: A Social-Practice Perspective". European planning studies 5. 15 (1). 645-670. Rogers Th A. L. (1979) “How competitive forces shape strategy”. Phillip L. pdf Module 2. Creativity and Innovation Management. Henry & Leydesdorff. Gnyawli & Fogel (1994). Jo M. Innovation in Changing Business Environments. Loet (2000) “The dynamics of innovation: from national systems and Mode 2 to a Triple Helix of university-industry-government relations”. Kubr T. & Ven Engelen. Porter. B & Isaksen A (1997) Location . Bresman.. Special issue: Regional Specialisation and Local Environment – Learning and Competitiveness.pp 107-115 Asheim. 12 (2). NORDREFO 1997:3. Prentice Hall A list of articles. 7. achieving success with professional business planning. Financial Times. Jo M. pp 43-62 Goglio S. MarchApril. Leenders. Albertini. Kratzer. 63-71.” Academy of Management Review. . 20: 109-123. Kim. To be downloaded at: http://venturecup. Industrial Marketing Management. 13 (1).5 ECTS Textbook: Bragg A.. Paul (2001). Rogers Th A. Etzkowitz. Henrik. Chen. ”Managing groups and teams” and ”Conflict management and negotiation” in Management & Organistional Behavior. chapters 10-11. Sören (2000). 137-145. Local and global forces in the innovation process of the multinational enterprise – an hour-glass model. Inc. Introduction: the Industrial district as a proving ground. (2006) “Team Polarity and Creative Performance in Innovation Teams”. 96-104. 105-116. Michael E. Creativity and Innovation Management.

Shane (2003) ”The environmental context of entrepreneurship”. N:G:. M.D.R. & Ulijn. Nooderhaven.R. & Venkataraman. Entrepreneurships and Culture: The interaction between technology. Journal of Business Venturing.LM. Caron (1996). Bygrave W.inforce. Keinhuis H (1998) Starting up. Edgar Elgar. DSWP-02-06. networking and collective learning in Europe. Gruber M. R. (2003). (2000) “Collective learning processes in European High technology milieux”. Pouder. (1992) The social construction of organisations and markets: the comparative analysis of business recipes’. 225-246 Whitley. UK. pp 333-358 Minniti M.Hofstede. pp. 76 (6). progess and economic growth. In David Keeble & Frank Wilkinson (eds. B.pdf . Richard & St John.org/download/1147080420578/GEM_2005_Report. M. Journal of Consumer research vol 7 December Dunham. "Economic Action and Social Structure: The Problem of Embeddedness". Technology Analysis and Strategic Management vol 3 no 4.. Brent Richie. (2006) Uncovering the value of planning in new venture creation: A process and contingency perspective. E. Autio E. The Nominal Group Technique: Its potential for consumer research..) High technology clusters. S. (1992) Retinking Organizations: New directions in organization theory and analysis. The individual-opportunity nexus. Thurik. (1985).. (1980).. (1991). Uhlander.. To be downloaded at: http://venturecup. J. the Delphi Techniques: An Exposistion and Application. Wenger. Journal of Business Venturing vol 22 pp 782-807 Mitchell V. achieving success with professional business planning. 16(5): 495-527.E (2004). a step-by-step guide to creating new business ideas worth backing. Bragg A. The Individual-Opportunity Nexus. Innovation. (2002). Inc. "Hot Spots and Blind Spots: Geographical Clusters of Firms and Innovation". 21 (4). 15. pdf Articles: Antoncic. Sage. T. McKinsey & Company. Michael E. G. Futures vol 35 pp 1011-1026 Claxton J. (1998).D. Illar D.. (2001).gemconsortium. D. "Intrepreneurship: Construct refinement and cross-cultural validation". Darden School Working Paper.0 ECTS Textbooks: Shane. & Hisrich. L. Academy of Management Review.120-142 Note: some minor adjustment may be may to the above list by the beginning of the module. 7(2).D. A general theory of entrepreneurship. ‘Culture’s role in entrepreneurship: self employment out of dissatisfaction’.A. (2000) ‘Communities of practice and social learning systems’. &Wildeman. Marchesi H. Pp199-229 Porter. Chapter 8 in Brown. (2005). 1192-1225. Module 3. Entrepreneurial activity and Business Venturing.W. Prentice Hall Kubr T. Pp 162-203 Keeble. M 6 Hughes.. Financial Times. S. R. In Reid. "Global Entrepreneurship Monitor: 2005 Executive Report" to be downloaded at GEM Consortium website: http://www. 91(3): 481-499. & Bragg M (2005) Developing New Business Ideas.. Switzerland.E. London. J. "Clusters and the New Economics of Competition". (2003) First Steps: towards purposeful activities in scenario thinking and futures studies. Shane. Chapter 7 in A General Theory of Entrepreneurship. Organisation. & Zaichkowsky J. Cheltenham: Edward Elgar Publishing Limited. A. Burt G & van der Heijden K. Cheltenham: Edward Elgar.dk/graphics/user/vc_swe/vc_swe_files/vc_swe_handbok/Handbook%20english. Harvard Business Review.. "From Rational to Creative Action: Recasting Our Theories of Entrepreneurship".RM. American Journal of Sociology. Granovetter. R. Wennekers.Publishing Inc. 77-90.

129-152 Paulus P. The Performance of Business Incubators and their pontential Development on the North East Region of England. S.1 Sarasvathy. Organizational Behavior and Human Decision Processes vol 82 No.usbe. Yang. Z. H (2000) Idea generation in Groups: A Basis for Creativity in Organizations. 767-785 Wynarczyk.. "Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency".se Phone: +46 (0)90-786 52 55.L. & Audretsch..umu. In Acs. (1996) Focus groups. Shane S. An Interdisciplinary Survey and Introduction. Dew. & Venkataraman. SE-901 87 Umeå. Sarasvathy. (2004) Planning for the market: business planning before marketing and the continuation of organizing efforts. Umeå University. S.J. Velamuri.D.B. (2003) Three views of entrepreneurial opportunity. S.B. (2001). Umeå School of Business. P & Raine A. N. Text phone: +46 (0)90-786 59 00 .Morgan D. Local Economy vol 20 no 2 205-220 More articles will be added. Journal of Business Venturing vol 19. (2005). D. (eds) (2003).R.. & Delmar F. Fax: +46 (0)90-786 77 64. 26(2): 243-263. Sweden Web: www. Annual Review of Sociology vol 22. Handbook of Entrepreneurship Research. Academy of Management Review. S.