You are here: MCEI | Teaching | Master | MAN 632 Advanced Entrepreneurship

MAN 632 Advanced Entrepreneurship (Spring 2018)

MAN 632 Advanced Entrepreneurship (Spring 2018) Thanks to pixabay.com

Successful entrepreneurs pursue new business opportunities in a path-breaking way and contribute to innovation, growth, as well as employment generation. But how do they manage the market entry and growth of their ventures? What type of strategies can they implement to achieve sustainable competitive advantage? What are overall challenges they are facing? These are examples of fundamental questions that will be addressed in MAN 632 Advanced Entrepreneurship. We will address the path from Seed Stage to Series A and beyond. You do not need any other prerequisites to join except for passion for Entrepreneurship and Startups. 

Registration open from February 1st till February 14th via https://portal2.uni-mannheim.de

 

Course Outline

The theoretical foundations of the course lie in theories on managerial aspects of entrepreneurship. Whereas MAN 630 focuses on the early stage and the foundations of entrepreneurship from nascent entrepreneurship to seed stage, MAN 632 continues in the Life-Cycle Approach from Seed Stage to Series A and beyond.

Entrepreneurial managers require an in-depth understanding of the ongoing challenges in key functional areas such as innovation and technology management, management of (fast) growth, finance (attracting venture capital, valuation of a business, exit decision), human resource management, strategic management, management of internationalization and related issues. Next to theory, guest lecturers and startup events will deepen your insights on entrepreneurship in practice and provide room to ask current entrepreneurs questions about how they manage their ventures and startup life cycle.

By the end of this course, students will have gained fundamental knowledge on theoretical and practical entrepreneurial mechanisms. Students will be turned into critical thinkers that can evaluate entrepreneurial topics from various perspectives. Some of the domains we touch upon (such as entrepreneurial finance) could be a complete course in their own right. This course aims at the big picture: Starting with entrepreneurial strategy, we will set the frame of what is essential to grow the business. You will be familiarized with the (high-tech) business life-cycle and relevant stages therein. We will consider management implications towards “growing the business” and specifically look at the role of 1) Marketing & Sales 2) The Team 3) Internationalization and 4) Entrepreneurial Finance to foster growth. Thus, you will be knowledgeable about marketing in the growing venture, (high-performance) entrepreneurial teams, familiar with opportunities and challenges in internationalization and gain basic knowledge on valuation, venture capital and entrepreneurial finance in general. Toward the end of the course, we will look into more specialized issues facing entrepreneurs at later stages (financing and term sheets). In general, you will also be provided with a strong theoretical basis to conduct future research (e.g., your master thesis) and enabled to connect to entrepreneurs and gain insights from practice. The case presentations will foster your skills of applying entrepreneurial tools, your problem-based learning and your team working skills. Students will be well-prepared to conduct their own research (given that they complete MAN 770 in addition) in their master thesis and will be given plenty of opportunities and triggers to advance their own entrepreneurial thinking and careers. 

Founders and experts will come to our Startup Lounges and Founder Talks - these inspirational events go hand in hand with this class and your attendance of these open to public inspirational events is strongly recommended. Overall, the course is intensive and requires students to carefully prepare, read and understand the course material (remember that 6 ECTS are a total workload of up to 180hrs). Active attendance and participation is strongly recommended. Even though we will have some hands-on elements in MAN 632, our applied class to found your own business is MAN 631 (HWS only) and our class to either further develop your advanced own startup or join a startup with a student team ist MAN 633 (both FSS and HWS). If you like theory and reading next to some practical insights or just want to obtain a solid foundation in what is entrepreneurship and see where the inspiration will take you, MAN 632 is the proper class for you. You do not need MAN 630 as a prerequisite. 

Learning Outcomes

By the end of this course students

  • will have gained fundamental insights into theoretical perspectives on entrepreneurship
  • have learned tools that facilitate growing a business
  • have some idea on how investors look at new ventures
  • will be acquainted with case study training and elements of problem-based learning (PBL)
  • will have improved their case solving and presentation skills
  • have a solid foundation for, e.g., a seminar or master thesis at our chair - especially theses "Inside the Venture"
  • have improved their problem solving capabilities

Side note on choosing MAN 632 vs. alternatives:

You should choose MAN 632 if you...

  • are interested in combining insights from lectures with readings at home and with insights gained from speakers in Startup Lounges, Founder Talks and in class to maximize your learning.
  • are interested in startups and entrepreneurship in general and want to gain a top-level view on both entrepreneurship in theory and practice.
  • like the practical world but do not want to lose sight of the underlying academic foundations.
  • love aiming for the big picture and love discussing topics of interest from a variety of angles.
  • do not like courses based on keywords and phrases to learn but on concepts to put into perspective and forming your own sophisticated line of argumentation.

You should, however, not choose MAN 632 if you...

  • expect this to be a multiple-choice-style course of memorizing material and then jotting buzzwords down on the exam. Our interactive style of teaching and a wealth of readings will get you frustrated – focus is set on understanding concepts rather than memorizing them.
  • expect teaching staff to tell you what to learn and what to forget – this is up to you (see point above).
  • want to develop or advance your own startup project in class. Apply for MCEI courses MAN 631 or MAN 633 Track 2 instead.
  • want to advance an existing startup project and get the feeling of what it is like to work in a startup with all the responsibilities this brings along, join MAN 633 Track 1 instead.

Registration 2018

Interested students must register via the Student Portal (portal2.uni-mannheim.de) between February 1st and February 14th, 2018. Please note that attendance is restricted to 60 participants. If there are more registrations than spots available, spots will be assigned randomly and those not obtaining a spot will be assigned to a waiting list (due to fairness criteria we cannot perform first-come first served). By the second day of class, your decision to stay in the class must be final, so that students on the waiting list have a fair chance. Usually, all students are granted a spot after the registration process consolidates.

In case you lack a UM student number (Matrikelnummer) please send an e-mail to the course coordinator (see contact below). You will be added manually to the class once you have obtained and provided us with your student ID. However, please make sure to register and obtain your Ecum card immediately after your arrival in Mannheim. You can only be officially added when you are fully enrolled in the University. Students who encounter Portal² problems are kindly requested to contact RUM Support http://www.uni-mannheim.de/rum/english/about%20us/contact%20form/

Registration for Case Study Sessions

You might be able to register for Case Study Sessions via the Student Portal but should ignore this option - make sure to apply for the core course. The reason why the class also pops up as an "exercise session" (in German: "Übung") is solely for internal room booking purposes. It is not necessary to register for case study sessions upfront. We will coordinate case study groups via the MCEI pages when the course enrollment is final. You will form teams for this course and each team has to pick a Case Study Group. You can swap groups by Case Study Session given your availability if there are open time slots to present or teams who move to your session. Students who miss the Case Study team formation and the sessions will fail this part of the course (50% of their grade). Students may (by exception) miss out on individual sessions if they have engaged in the team effort of preparing the presentation and the team is okay with their absence. Dropping the class after team formation is not possible (see introduction lectures), as this would lead to fricticon and unnecessary strain on the teams. 

MCEI Platform registration next to Portal² (no ILIAS being used) 

Next to your Portal² registration, we kindly request you to join our course group on the MCEI platform (www.mcei.de). Instructions will also be provided throughout the first sessions and via e-mail to all students who have registered via Portal². In this class, we will not work with the University of Mannheim ILIAS system. You need the MCEI course group to obtain your study material and stay up to date regarding all course information and relevant discussions. In case of trouble signing up, please contact the course coordinator. Click here to register for the course group!

Student Recommendations

Our students are encouraged to join our Startup Lounges and Founder Talks on a regular basis - it is part of your entrepreneruial experience. Transferring insights from class to the real world by learning from real startups and their challenges forms a substantial part of your learning. Remember that networking is an enabler of amazing opportunities. In general, the course is intensive. It requires students to carefully prepare all cases, read and understand a lot of material, and participate actively in class and case discussions. Readings are important to understand applications and follow the lectures and class discussions. All students are expected to participate in the case discussions and presentations. Your active participation will benefit you significantly in preparing for the exam, which is a continuous learning endeavor in this class rather than 1 week of learning materials by the end of class. Students, if applicable, purchase the case studies themselves and prepare them upfront (Harvard Business School Publishing). MCEI cases will be provided via the course group.

Place & Time

  • Lecture: February 13th - May 29th (Tuesdays) from 1:45pm - 3:15 pm, Place: O131 (Schloß, Ostflügel- Wilhelm Müller Hörsaal)
  • Case study presentation sessions will be coordinated at your team's convenience once enrollment is completed. The sessions will be 4x1h each (i.e., 4hrs in total). 

Please ignore all the Wednesday appointments in your Student Portal if they show up - this is just an automatic system notice following room booking.

Our MCEI DesignLab will offer you lots of space - just in case you want to put your own ideas into practice next to class or want to develop your case solutions like a startup.

Lecturers: Prof. Dr. Michael Woywode, Dr. Jan Zybura, Nora Zybura

Assessment: Final examination (50%) and 4 team Case Presentations (50%); please note that dropping the class after team building in Session 3 is not possible.

Notice for repeat students (3rd sit): We strongly recommended you fully retake this class with regular attendance - we have changed the grading scheme and some content. 

ECTS: 6

Language: English

Readings & Resources:

Readings & Resources:

See detailed course outline below.

Course Material:

All course material (where applicable) will be provided via the MCEI Group "MAN 632 Advanced Entrepreneurship FSS 2018". 
We will not use ILIAS at any point in this class. Please do not be irritated by the ILIAS option not being available.

 

Tentative Detailed Schedule and Course Content (subject to change)

Session 1 - Lecture (13.02.2018)

Introduction & Outlook

The Basics of Startup Development

Recommended Reading:

  • Ash Maurya (2016). Scaling Lean: Mastering the Key Metrics for Startup Growth (about 20 copies in library)

Session 2 - Lecture (20.02.2018)

Setting Strategy

Entrepreneurial Strategy & Dynamic Capabilities

Core Readings:

  • Kuratko, D.F., Audretsch, D.B. (2009). Strategic Entrepreneurship: Exploring Different Perspectives of an Emerging Concept. Entrepreneurship Theory & Practice, 33 (1), 1-17.
  • Ireland, R.D., Hitt, M.A., Sirmon, D.G. (2003). A Model of Strategic Entrepreneurship: The Construct and its Dimensions. Journal of Management, 29 (6), 963-989.
  • Shane & Venkataraman (2000). The Promise of Entrepreneurship as a Field of Research. The Academy of Management Review, 25.
  • Teece, D.J. (2007). Explicating Dynamic Capabilities: The Nature and Microfoundations of (Sustainable) Enterprise Performance. Strategic Management Journal, 28 (13), 1319-1350.

Session 3 - Lecture (27.02.2018)

Entrepreneurial Teams & Team Building

Forming Case Study Teams (attendance is crucial - coordinate via MCEI Group upfront if you cannot attend!)

Core Readings:

  • Katzenbach, J., Smith, D. (2000). The Wisdom of Teams: Creating the High Performance Organization. Harper Business.
  • Jenewein, W., Morhart, F. (2008). Navigating toward team success. Team Performance Management, 14 (1/2).
  • Klotz, Anthony C., et al. "New venture teams: A review of the literature and roadmap for future research." Journal of Management 40.1 (2014): 226-255.
  • Arregle, Jean‐Luc, et al. "Family ties in entrepreneurs' social networks and new venture growth." Entrepreneurship Theory and Practice 39.2 (2015): 313-344.

Session 4 - Lecture (06.03.2018)

Setting the culture & Communication

Core Readings:

  • Fisher, Greg, Suresh Kotha, and Amrita Lahiri. "Changing with the times: An integrated view of identity, legitimacy, and new venture life cycles." Academy of Management Review 41.3 (2016): 383-409.

Session 5 - Lecture (13.03.2018)

Resource Allocation & Building the Cash Flow Generating Engine

Intro to Startup Growth

Core Readings:

  • Oe, A., & Mitsuhashi, H. (2013). Founders' experiences for startups' fast break-even. Journal of Business Research, 66(11), 2193-2201.
  • Wyld, D. C., & Maurin, R. (2009). What Matters More in Growth Companies: The Leader or the Idea?. The Academy of Management Perspectives, 23(2), 95-96.

Session 6 - Case Presentation Session (13.03.2018)

Case I: Airbnb

  • Case Questions in MCEI Group
  • Presentation Schedule
    • Group 1: 15.30-16.30 (4 teams of 5)
    • Group 2: 16.45-17.45 (4 teams of 5)
    • Group 3: 18.00-19.00 (4 teams of 5)

Session 7 - Lecture (20.03.2018)

Growth via Marketing

Core Readings:

  • Webb, J.W., Ireland, R.D., Hitt, M.A., Kistruck, G.M., Tihanyi, L. (2011). Where is the opportunity without the customer? An integration of marketing activities, the entrepreneurship process, and institutional theory. J. of the Acad. Mark. Sci. (2011) 39:537-554.

Recommended Readings:

  • Moore, G.A. (2002). Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers (Collins Business Essentials); skim-read.

Session 8 - Lecture (10.04.2018)

Growth & Survival

Growth via Internationalization

Core Readings:

  • Brüderl, J., Preisendörfer, P., Ziegler, R.(1992). Survival Chances of Newly Founded Business Organizations. American Sociological Review, 57 (2).
  • Vanninen, Heini, Olli Kuivalainen, and Luciano Ciravegna. "Rapid multinationalization: Propositions for studying born micro-multinationals."International Business Review 26.2 (2017): 365-379.

Session 9 - Case Presentation Session (10.04.2018)

Case II: Uber

  • Case Questions in MCEI Group
  • Presentation Schedule
    • Group 1: 15.30-16.30 (4 teams of 5)
    • Group 2: 16.45-17.45 (4 teams of 5)
    • Group 3: 18.00-19.00 (4 teams of 5)

Session 10 - Lecture (17.04.2018)

FINANCING GROWTH I : Venture Capital & The VC Method

Core Readings:

  • Note on Financial Contracting: "Deals" (HBS)
  • Deal Structure and Deal Terms (HBS)
  • How Venture Capitalists Evaluate Potential Venture Opportunities (HBS)
  • Hellmann,T., Puri, M. (2002). Venture Capital and the Professionalization of Start-Up Firms: Empirical Evidence. The Journal of Finance, 57 (1).

Session 11 - Case Presentation Session (17.04.2018)

Case III: Airbnb, Etsy, Uber: Growing from one thousand to one million customers.

  • Case Questions in MCEI Group
  • Presentation Schedule
    • Group 1: 15.30-16.30 (4 teams of 5)
    • Group 2: 16.45-17.45 (4 teams of 5)
    • Group 3: 18.00-19.00 (4 teams of 5)

Session 12 - Lecture (24.04.2018)

FINANCING GROWTH II : How the VC Industry works

Core Readings:

  • same as Session 10

Session 13 - Lecture (08.05.2018)

The throne vs. the kingdom - Exits & Successions

  • Wasserman, Noam. "The throne vs. the kingdom: Founder control and value creation in startups."Strategic Management Journal 38.2 (2017): 255-277.

Session 14 - Case Presentation Session (08.05.2018)

Case IV: Drop Box Series B

  • Case Questions in MCEI Group
  • Presentation Schedule
    • Group 1: 15.30-16.30 (4 teams of 5)
    • Group 2: 16.45-17.45 (4 teams of 5)
    • Group 3: 18.00-19.00 (4 teams of 5)

Session 15 - Lecture (15.05.2018)

Beyond the Startup World: Corporate Entrepreneurship & Innovation

  • Kohler, Thomas. "Corporate accelerators: Building bridges between corporations and startups." Business Horizons 59.3 (2016): 347-357.
  • Weiblen, Tobias, and Henry W. Chesbrough. "Engaging with startups to enhance corporate innovation." California Management Review 57.2 (2015): 66-90.
  • Turró, Andreu, David Urbano, and Marta Peris-Ortiz. "Culture and innovation: The moderating effect of cultural values on corporate entrepreneurship." Technological Forecasting and Social Change 88 (2014): 360-369.

Session 16 - Lecture (22.05.2018)

Q&A & Course Wrap Up (No new material)

Contact

E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Related items

Sponsors

  • University of Mannheim
  • Institut für Mittelstandsforschung
  • Gründerverbund
  • ESF
  • Europäische Union
  • Baden-Württemberg - Ministerium für Finanzen und Wirtschaft
  • Absolventum