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Entrepreneurship (BBA80009)

General information

Type:

OP

Curs:

3

Period:

S semester

ECTS Credits:

4 ECTS

Teaching Staff:

Group Teacher Department Language
Ed: 1 Jaume Villanueva Aguila Dirección General y Estrategia ENG

Group Teacher Department Language
Ed: 2 Jaume Villanueva Aguila Dirección General y Estrategia ENG

Course Learning Objectives

This course is about the practice of entrepreneurship, with an emphasis on new venture creation. The focus of this course is on key aspects of the entrepreneurial process: how entrepreneurs discover and evaluate opportunities, develop and validate business models, assess the feasibility of their plans, attract external resources and investors, obtain financing, and communicate their ideas to external stakeholders.

COURSE OBJECTIVES:
The main purpose of this course is to provide an introduction the entrepreneurial process, with a focus on the creation of new ventures. Students will engage in a number of learning activities with the objective of gaining a better understanding of the following topics:
- The key elements of the new venture creation process. The life-cycle of new venture creation, from inception to implementation
- How entrepreneurial opportunities are evaluated
- How entrepreneurial opportunities and developed and validated
- How entrepreneurs "sell' their ideas to external stakeholders
- How entrepreneurs finance new ventures
- The role of entrepreneurship as a potential career path

CONTENT

1. The entrepreneurial process

Introduction to the course. The key elements of the entrepreneurial process, from idea to reality. Sources of business ideas.

2. Discovering and evaluating opportunities

Frameworks for evaluating business opportunities. Assessing the value proposition, the team and the market.

3. Assessing and developing business models

Frameworks for assessing and developing business models. The business model canvas.

4. Validating opportunities. The lean startup methodology

Validating hypotheses about business models. The lean startup methodology. Validated learning and product-market fit.

5. Assessing feasibility, KPIs

Assessing feasibility and execution issues. Key performance indicators as early feasibility analysis tools.

6. The founding team, organizational issues

7. New venture financing - Valuation, equity deals

Capital needs assessment. Methods for valuing startups. Constructing equity deals.

8. New venture financing - Sources of capital

Sources of capital. Business angels. Venture Capital

9. Pitching

How to pitch to investors and other external stakeholders. The pitch deck. The extended pitch deck. What investors want to see.

Methodology

To achieve is objectives, this course relies on a learning methodology that combines class lectures with case discussions, creativity and pitch exercises, guest speakers, group exercises and student presentations.

ASSESSMENT

ASSESSMENT BREAKDOWN

Description %
Class participation 40
Elevator pitch 10
Final exam 50

Assessment criteria

Students will be evaluated on the following elements: Class participation (which includes the preparation of case discussions and submission of case memos), the delivery of an elevator pitch, and a written final examination.

CLASS PARTICIPATION
Class participation is a fundamental component of the learning experience in this class, as illustrated by its weight in the final grade. Students are expected to attend all classes fully prepared in order to meaningfully participate in class discussion. Students will have numerous opportunities for in-class participation: Several in-class activities (e.g. case-specific discussions, in-class group exercises, and presentations) are specifically designed to foster discussion and communication. Important aspects of class participation to consider are:
- Attendance: Attendance is mandatory and a full attendance record is expected. If a student is going to miss a session he/she should notify the instructor in advance in the case of justified absence (absence is only justified in cases of force majeure).
- Discussion: Participation in the class discussions is a key component for overall class participation assessment. Students are expected to engage in class discussion on a regular basis, but the amount of "air time? is not the only criterion for evaluation. Students will also be assessed on the quality of their contributions: the extent to which the contributions are accurate and insightful, the extent to which they reflect a solid preparation, and the extent to which they are helpful to other students and to the atmosphere in the classroom.
- Case memos: To facilitate preparation for case discussions, students will be asked to individually prepare a memo addressing the key case questions and to upload it to Moodle prior to the class session in which the case will be discussed. The memos should be no longer than 2 pages, single-spaced, in 12-point Times New Roman font. The memos per se will not be graded, but will be reviewed by the instructor and will be incorporated into the overall class participation assessment. The memos constitute an important component of class preparation. Feedback will be provided on an as-needed basis.
- Group exercises: To facilitate interaction and collaboration, students will participate in group exercises, both in and outside the classroom. Groups (of maximum 4 students) will be randomly assigned. Participation in group exercise activities will count toward the overall participation grade (group participation constitutes 25% of the overall participation grade). A peer evaluation will take place at the end of the course.
- Startup podcast: Students will be asked to listen to and reflect about an episode of the Startup podcast (Gimlet Media) per session. These will be discussed in class. Students are encouraged to use the Forum on the Moodle page, to upload comments, reflections and questions regarding the podcast.

THE ELEVATOR PITCH
In the next to last session, students will orally present a business idea (which can be real or hypothetical) in an "elevator pitch? format. This will constitute 10% of the final grade. Detailed instructions on how to craft and deliver the elevator pitch will be provided throughout the course.

THE EXAM
A written exam (representing 50% of the final grade) will be administered at the end of the course to test the conceptual and practical understanding of the course material. This test will cover all the assigned readings, cases, in-class discussions and presentations. The exam is closed books/closed notes and will cover all materials assigned up to the final class session. Students are responsible for all assigned materials whether or not they are discussed in class.

Bibliography

ARTICLES
- De Clercq, D., Fried, V. H., Lehtonen, O., & Sapienza, H. J. (2006). An entrepreneur's guide to the venture capital galaxy. The Academy of Management Perspectives, 20(3), 90-112.
- Magretta, J. (2002). Why Business Models Matter. Harvard Business Review, May, pp. 86-
92.
-Aulet & Murrray (2013). A tale of two entrepreneurs. Kauffmann Foundation.
HBS CASES
- Dr. John's products
- The Knot
- Airbnb
- Marketsoft
- Spotfire

Timetable and sections

Group Teacher Department
Ed: 1 Jaume Villanueva Aguila Dirección General y Estrategia

Timetable Ed: 1

From 2018/2/8 to 2018/3/15:
Each Thursday from 11:00 to 14:00.

From 2018/4/12 to 2018/5/3:
Each Thursday from 11:00 to 14:00.

Group Teacher Department
Ed: 2 Jaume Villanueva Aguila Dirección General y Estrategia

Timetable Ed: 2

From 2018/2/8 to 2018/3/15:
Each Thursday from 17:00 to 20:00.

From 2018/4/12 to 2018/5/3:
Each Thursday from 17:00 to 20:00.