Introductory description
Entrepreneurship is not only about new ventures or ‘small’ business or ‘early-stage’ business, nor even exclusively about for-profit business. Rather it is a method of creative problem solving in business and a logic for taking action in a variety of settings where business can make a positive difference. The module, therefore, will explore a range of different ways of thinking about what entrepreneurship is and what entrepreneurs do.
Module web page
Module aims
The module aims to develop an understanding of entrepreneurs and the firms they create and manage. It is not about teaching you how to write a business plan. The business plan constitutes just one tool in the entrepreneur’s arsenal, for which there exists a tremendous amount of information on the internet, and without a real insight or idea writing a business plan is a meaningless exercise. Also, if you have a genuine insight and are credible, the business plan will get written.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Entrepreneurial mindset (intersection of entrepreneurship with psychology, cognition, design thinking and creativity).
Examination and practice of some of the the key behavioural elements of an entrepreneurial mindset including:
Opportunity identification (e.g. links to creativity, understanding markets, customers, value proposition).
Opportunity evaluation (e.g. business models).
Opportunity exploitation (e.g. resource orchestration including teams; exiting from the venture).
Learning outcomes
By the end of the module, students should be able to:
- Demonstrate a critical understanding of what entrepreneurship is and who entrepreneurs are.
- Demonstrate a critical understanding of what constitutes an entrepreneurial mindset, identifying the features of an entrepreneurial mindset and explaining the behavioural and attitudinal implications of such a mindset.
- Define entrepreneurship and distinguish between the various forms that entrepreneurship can take.
- Develop creative thinking, critical analysis and self reflection in the area of business entrepreneurship.
Indicative reading list
Core text:
Barringer, B.R. and Ireland, R.D. (2021). Entrepreneurship: Successfully Launching New Ventures (5th edn). Harlow: Pearson.
Example academic journals:
Birkinshaw, J. and Haas, M. (2016) 'Increase your return on failure'. Harvard Business Review, May, pp. 89-93.
Breugst, N.; Patzelt, H. and Rathgeber, P. (2015) 'How should we divide the pie? Equity distribution and its impact on
entrepreneurial teams'. Journal of Business Venturing, 30, pp. 66-94.
Breugst, N. and Shepherd, D.A. (2017) 'If you fight with me, I'll get mad! A social model of entrepreneurial affect'. Entrepreneurship Theory and Practice, 41, 3, pp. 379-418.
Davidsson, P. (2012) 'The Entrepreneurial Process' in Carter, S. and Jones-Evans, D. (eds) Enterprise and Small Business: Principles, Practice and Policy (3rd edn). London: Prentice Hall.
Davidsson, P. (2015) 'Entrepreneurial Opportunities and the Entrepreneurship Nexus: A Re-conceptualization'. Journal of Business Venturing, 30, pp. 674-695.
Jin, L.; Madison, K.; Kraiczy, N.D.; Kellermanns, F.W.; Crook, T.R. and Xi, J. (2017) 'Entrepreneurial Team Composition Characteristics and New Venture Performance: A Meta Analysis'. Entrepreneurship Theory and Practice, 41, 5, pp. 743-71.
McGrath, R.G. (2011) 'When Your Business Model is in Trouble'. Harvard Business Review, 89, 1/2, pp. 96-8.
Osterwalder, A. and Pigneur, Y. (2010) Business Model Generation - A Handbook for Visionaries, Game Changers and Challengers. John Wiley and Sons, Hoboken, New Jersey.
Ries, E. (2011) The Lean Start-up. London: Portfolio Penguin.
Smolka, K.M.; Verheul, I.; BurmeisterLamp, K. and Heugens, P.P. (2016) 'Get It Together! Synergistic Effects of Causal and Effectual Decision-Making Logics on Venture Performance'. Entrepreneurship Theory and Practice.
Read, S.; Sarasvathy, S.; Dew, N.; Wiltbank, R. and Ohlsson, A-V. (2011) Effectual Entrepreneurship. London: Routledge.
Ucbasaran, D.; Shepherd, D.; Lockett, A. and Lyon, J. (2013) 'Life After Business Failure: The Process and Consequences of Business Failure for Entrepreneurs'. Journal Of Management, 39, 1, pp. 163-202.
Wasserman, N. (2008) The Founder’s Dilemma. Harvard Business Review, 86, 2, pp. 10–9.
Wasserman, N. (2013) The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup. Princeton University Press.
International
Most of the assignments are of international firms and at least one of the entrepreneur interviews will be international.
Subject specific skills
Analyse and critique elements of the entrepreneurial process and the issues within each (i.e. entrepreneurial opportunity identification, evaluation and exploitation) including the role of key actors (such as co-founders and investors).
Relate to the real life experiences (positive and negative) of an entrepreneur and demonstrate a broad and realistic understanding of the implications of starting a business including the rewards and challenges.
Transferable skills
Written and verbal communication skills.
Self-reflection.
Time management.
