Government of the Russian Federation Saint Petersburg State University Graduate School of Management WORKING PROGRAM OF AN ACADEMIC DISCIPLINE

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1 Government of the Russian Federation Saint Petersburg State University Graduate School of Management WORKING PROGRAM OF AN ACADEMIC DISCIPLINE New Business Development and Market Entry Создание и вывод на рынок нового бизнеса Study language English Workload 6 credits Approval year code Working program registration number: Faculty or other structural department code / / Index number or cipher Saint Petersburg 2014

2 Part 1. Characteristics, structure and content of academic studies 1.1. Goals and results of academic studies. Entrepreneurship and innovations are at the heart of management thought and provide drivers for renewal and improvement of management practices. Developed and developing countries provide various environments for implementation of entrepreneurial ideas, innovations and imply different requirements for the changes in the companies. Within this course, students learn to generate and enrich new business ideas based on an innovative technology and to develop a market entry plan for this innovative technology. The course will blend academic perspectives from Austrian and Russian faculty with corporate experience to provide wellrounded insights into a timely business topic. The aim of the International Summer School is to provide students with an insight of the most relevant topics when trying to generate and enrich new business ideas based on an innovative technology and to develop a market entry plan for this innovative technology, as well as a profound understanding of the opportunities and challenges managers face in context of entrepreneurial decision making processes. We will integrate perspectives of international companies operating in both developed and developing markets. Through participating in the course the students will: learn to understand the basic approaches in entrepreneurial behaviour, how to create an entrepreneurial business, generate and enrich new business ideas based on an innovative technology and to develop a market entry plan for this innovative technology; gain a better understanding of innovation strategies and decision making processes in new business development; validate and enrich the knowledge gained in a real-life group project Requirements to a student`s preparedness for mastering the content of academic studies (prerequisites) Strategic Management, Business Planning 1.3. The list of competences developed (study results). Competence code GC-1 GC-2 GC-6 GC-7 PC-1 PC-4 PC-1.4 Competence description Competences in the field of general culture (GC) Ability to increase own cultural and intelligence level Ability to use the knowledge of modern science and education discoveries for solving educational and professional problems Ability to make organizational and managerial decisions and evaluate their consequences Ability of public professional and research communications Professional competences (PC) Ability to manage organizations, departments, teams, projects and networks Ability to develop programs for organizational development and changes and ensure their implementation Ability to develop programs of organizational development of emerging Russian and international companies 2

3 PC-7 Ability to use methods of strategic analysis COMPETENCES DEVELOPED WITHIN CONCENTRATIONS Competence description Concentration: International Management Professional competences developed within concentration (PC) PC-1.1 Ability to manage organizations, departments, teams, projects and networks in emerging Russian and international companies in the global context PC-1.4 Ability to develop programs of organizational development of emerging Russian and international companies 1.4. Knowledge, skills and acquirements got by a student. Through participating in the course the students will: learn to understand the basic approaches in entrepreneurial behaviour, how to create an entrepreneurial business, generate and enrich new business ideas based on an innovative technology and to develop a market entry plan for this innovative technology; gain a better understanding of innovation strategies and decision making processes in new business development; learn how to explore customer and market needs; learn how to develop new ideas on the basis of customer & market needs; learn how to enrich the idea by doing customer development; learn how to enrich an idea by screening analogies/antilogies and the market ecosystem; learn how to develop an innovative business model on the basis of the results of the analysis; validate and enrich the knowledge gained in a real-life group project The list and volume of active and interactive forms of academic studies. The course integrates various teaching methods such as theory lectures, case studies, discussions, and a real-life group project with a multinational company. Substantial classroom discussion is encouraged and expected. All students are required to work on the group project during the course Academic studies organization Workload, volumes of academic work and fill rate of students groups (Workload and academic work volumes distribution is shown along with the recommended limits of groups fill rate in modules and types of academic work in the table) 3

4 Modul e code Lectures Seminars Consulatations In-class workload, hours Practical exercises Lab exercises Tests Colloquia Current control Interim attestation Under guidance of teacher Out of class workload, hours With presence of teacher Using methodological materials Current control Interim attestation Volume of Active and interactive academic classes forms Study forms M Total: Workload Types, forms and dates of the current academic progress control and interim attestation. (Types, forms and dates of the current academic progress control and interim attestation are shown in modules within a discipline and in forms of study) Code of module Interim attestation Current control within a Types Dates Forms Dates discipline Written assignments Group project Full-time study format Will be specified according to the schedule of the classes Will be specified according to the schedule of the classes 1.7. Structure and content of academic studies STRUCTURE AND REQUIREMENTS Kapsch entrepreneurship project (written report Pitch Book) Kapsch entrepreneurship project (final presentation) This set of sessions is taught using a combination of case analyses, class discussion, exercises and lecture elements. The readings will give you an understanding of the main issues concerning the development of new business ideas/start-ups. The course contains one Kick-Off Session and several Workshop Sessions. Kick-Off Session In the Kick-Off Session an overview of the course, the project with Kapsch as well as an introduction to the corporate entrepreneurship concept will be given. Furthermore, in this session the students are assigned to groups. Workshop Sessions 4

5 For any workshop session, each student group has to prepare a pitch-book (ppt slides containing the most important information) and a short pitch-presentation (3 min). Groups may be asked at random to present their findings to the class while the other groups will be playing the role of a discussant. The respective reading materials will be announced in the sessions. The sessions are as follows: Session 1. Effectuation principles Session 2. Understanding the nature of an opportunity Session 3. Developing a Business Concept and Business Model Session 4. Feasibility analysis and ecosystem analysis Session 5. Learning how to do Customer Development Session 6. Introduction to the ecosystem analysis part I: learning from analogs & antilogs Session 7: Introduction to the ecosystem analysis part II: getting an understanding of the market and strategic positioning on the value chain Session 8: Business Modeling & Learn how to successfully pitch a business idea to investors or promoters. Session 9: Final Pitch Presentation Part 2. Academic discipline support 2.1. Methodological support In-class work methodological support Core literature, slides, cases, hand-outs Out of class work methodological support Core literature, slides, cases, hand-outs Methodology for the control of current academic progress, interim attestation and assessment criteria After the course students will be assessed based on their: Ability to understand the strategic issues related to new business development Active participation in class The quality of the project work and presentation - by quality in this context we mean the clarity and persuasiveness of each bit of the work. Peer review, i.e., ability to work in teams. Students failing to participate in their teams will lose the mark for that piece of work. 5

6 ASSESSMENT Kapsch entrepreneurship project (written report Pitch Book) Kapsch entrepreneurship project (final presentation) 50% 50% Pitch Book Report Each team of students will come up with an original business idea, translating the idea into a well conceptualized business concept, and then turn the concept into a formal business model following the business model canvas. This business model must demonstrate the basic market and economic feasibility of the proposed business idea. Pitch Book is an extended presentation which includes: Executive summary Technology description & benefits Application fields /-assessment Problem Business idea Customer value proposition (incl. USP) Market (incl. characteristics, i.e. customer segments) Competition (analogs & antilogs) Revenue streams (incl. pricing) Key resources/key partners Cost structure Conclusion Pitch presentation includes the following parts: Cover Slide: name, presenter s name, tagline Technology Slide: describe the technology and its benefits Application Fields Slide: show identified application fields and the most promising ones Problem (Size) & Opportunity Slide: make it clear that there is a big important problem Solution & Benefit Slide: Describe what you are offering to the target market and concentrate on key benefits for the customers (customer value proposition) Business Model Slide: Describe how you will make money (e.g. your pricing) and how you will go to market. The presentation will be assessed based on the originality of the business idea and feasibility analysis of the business concept and interrelation of all elements of the business model. The presentation should last 10 min and is graded in points [0-10]. Individual up-/and down-grading based on Individual In-Class participation Peer ratings At the first class students should develop a team of 4-6 people for development group Kapsch entrepreneurship project. At the beginning of the course the students get information concerning the details of evaluation system. At the last class the students get the final evaluation grade for work during semester. If a student misses an assignment because of the illness, he/she may be allowed to prepare an additional assignment. If the reason for 6

7 missing the class is not appropriate, a student gets 0. Additional assignment may include development of the business model based on entrepreneurial idea Methodological materials for the current academic progress control and interim attestation (monitoring and test materials) To carry out monitoring and interim evaluation are used: Handouts prepared by the professors. Suggested literature 2.2. Staff acquisition Requirements for the education level and (or) qualification of regular lecturers and other people allowed to teach a discipline. Degree and professional competence in the field of strategic management and entrepreneurship Requirements for the availability of auxiliary educational and (or) other staff Methodological materials for the assessment of the study process content and quality by students 2.3. Material and technical support Requirements for auditoria (rooms, seats) Lectures are held in classrooms equipped with projectors and cameras Requirements for auditorium equipment including general computer equipment and public domain software The software of general use MS Word, Excel, PowerPoint Requirements for specialized equipment Requirements for application software Requirements for the list and volume of consumable materials 2.4. Information support Compulsory literature list 1. Bruce R. Barringer and R. Duane Ireland, Pearson Prentice Hall. Entrepreneurship: Successfully Launching New Ventures, (2011) 2. Timmons J., Spinelli S. New venture creation: Entrepreneurship for 21st century Supplementary literature list 1. Baron, Robert A., and Michael D. Ensley. "Opportunity recognition as the detection of meaningful patterns: Evidence from comparisons of novice and experienced entrepreneurs." Management Science 52.9 (2006): Blank S. The Four Steps to the Epiphany: Successful Strategies for Products that Win, 2007, Cafepress.com. 3. Blank S., Dorf B. The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company, Casadesus-Masanell, Ramon, and Joan E. Ricart. "How to Design a Winning Business Model." Harvard Business Review Leonard M. Lodish, Howard L. Morgan, Shellye Archambeau. Marketing That Works: How Entrepreneurial Marketing Can Add Sustainable Value to Any Sized Company. Pearson Education,

8 6. Magretta, J. Why Business Models Matter. Harvard Business Review Mullins J., Komisar R. Getting to Plan B: Breaking Through to a Better Business Model, Harvard Business Press. 8. Osterwalder A., Pigneur Y. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, New Jersey: John Wiley & Sons, Inc. 9. Read S., Sarasvathy S., Dew N., Witbank R., Ohlsson A-V. Effectual Entrepreneurship, 2011, Routledge. 10. Reis E. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses, New York: Crown Publishing Group. 11. Robert M. Grant, John Wiley & Sons. Contemporary Strategy Analysis. (2012) 12. Sarasvathy, Saras D. "Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency." Academy of management Review (2001): Zott C., R. Amit, & L.Massa. The Business Model: Theoretical Roots, Recent Developments, and Future Research. WP-862, IESE, June, revised September Other information sources list Cases: 1. Shirokova G., Sklyar T. ONA Clinic: Entrepreneurship in Healthcare // International Journal for Case Method Research and Application, 2012, XXIV(1), p Shirokova G., Vega G. The Untsiya Company: Business Development in Russia // The Case Journal, 2009, Vol. 6, No. 1, pp Shirokova G., Coyle W., Shatalov A. Dve Palochki: A Non-Japanese Restaurant of Japanese Cuisine, The European Case Clearing House (ECCH)

9 Part 3. Procedure of development and approval of the discipline working program Developer (s) of the discipline working program Name Degree Status Position Contact information Shirokova G.V. Doctor Degree in Economics Professor Lettl Ch. Ph.D. Professor Graduate School of Management, SPbU Vienna University of Economics and Business Tel.: In accordance with the procedure of external and internal expertise of educational programs defined by the order of the first vice rector on teaching and research signed on , 195/1, a 2-level procedure was conducted: 1 st level (assessment of the content and methods used in the program) Department Date of meeting Minutes number 2 nd level (correspondence to the goals and study plan of educational program) The 2nd level expertise is conducted in accordance with the order Order Executive person Date of the order Executive department Date of the issue number Number of the Other s on assessment of the discipline working program Quality assessment Number of the Date of the issue Approval of the discipline working program Number of the Approved by Date of approval Introduction of changes in a discipline working program Number of the Approved by Date of approval 9