ENTREPRENEURSHIP

ENTREPRENEURSHIP

Fabrizio Sammarco

Instructional goals

The course aims to give students the methodological and applied knowledge useful for the development of a business project. The key educational objectives of the course are: Understanding of what is meant by entrepreneurship and how it fits into the national and international social-economic environment Gain awareness of the elements of scenario useful to understand the main technological, social, environmental and economic trends that characterize the entrepreneurial ecosystem Learning and apply the key elements and methodologies that characterize the development of an entrepreneurial project Mature critical spirit, analytical skills and lateral thinking. Get involved in the first person by simulating the creation of an innovative company.

Intended learning outcomes

Knowledge and understanding: at the end of the course, the student will have acquired the knowledge necessary to understand what is meant by entrepreneurship, know the elements that characterize the construction of a business project and related methodologies. Ability to apply knowledge and understanding: The whole course is based on a combination of theoretical skills and applied methodologies; the more theoretical contents that are developed during the lessons are constantly applied by the students in the development of a business case. The same happens at the end of the course, through the written and oral exam that consists in a pitch of a business initiative. Autonomy of judgment: the student, also through external testimonies, will be able to have awareness of the main elements of the scenario that characterizes the national and international business context. Through the many real cases that will be represented during the lectures and the business case on which they will work during the course, students will be able to develop critical thinking, analytical skills and lateral thinking. In addition, the critical spirit is constantly stimulated by the comparison in lecture. Communication skills: throughout the course (through the business cases they work on) and during the final exam (which includes a pitch on a business project) students have the opportunity to refine their skills of efficient communication. Learning skills: the course aims to develop interest and curiosity on the part of students towards the topics covered in the course, which can lead them to continue independently. Transversal skills: acquire the basic skills useful for the development of their own business initiative.

Course Contents

Definition of Entrepreneurship Key Technology Trends: from Machine Learning at AI How social impact and sustainability are changing entire markets; Innovation and Impact The crisis’ effects on the entrepreneurial system: Innovation & Impact The entrepreneurial ecosystem, dimensions, actors Complexity, uncertainty and Future Thinking: Theories and Model The steps of construction of an entrepreneurial initiative Customer's needs and Value proposition Communication strategies Business model definition The market and competitors Economic and financial plan and definition of investment needs Methods of business evaluation Funding of business ideas: Investments stages, types, tools and actors Investment management and exit strategy. Elevator pitch Impact-oriented entrepreneurship: strategies and methods

Reference Books

Mandatory: Slides and any handouts given by the professor on Luiss Learn during the course. Recommended: Textbooks: Business Model Generation, by A Osterwalder, Y Pigneur The startup owner’s manual, by S Blank The Lean Startup, by Eric Ries The corporate startup, by T Viki, D Toma, E Gons Making Ideas Happen: Overcoming the Obstacles Between Vision and Reality, by Scott Belsky The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail, by Clayton M. Christensen Papers: Great Innovators Think Laterally, by Ian Gonsher and Deb Mills-Scofield, HBR April 2013 Entrepreneurship, M. Laverty et. al, Openstax 2020

Teaching Methods

Lectures, classroom discussion, analysis of real cases, exercises through the development of business cases and simulations of idea pitching, executive lecture by external guests.

Assessment Method

The exam will consist of a written and oral exam: The written exam will consist of a mix of multiple choice and open-ended questions The oral exam will consist of a presentation of a business project created by the students. It is desirable that students work in groups of at least 3-4 people. The students must communicate with the group members and project topics within week 4. Non-attending students will be able to carry out an individual essay, communicating the topic to the teachers within week 4 Each week of work on the Business Case, students will be provided with a maximum of 10 mockups to support the drafting of their business idea. The final grade will be determined as follows: 40% by written exam and 60% by oral exam. Failure to achieve the minimum grade on one of the two exams (written or oral) will result in a repeat of the exam whose grade was insufficient. For the oral exam all the members of the group must unanimously accept the result in order to upload the grade in the system. Attending students may receive 3 extra points based on active participation in all 4 phases of the business case that will be developed during the course and in general to the classroom activities, the teaching team will record the students' interventions.

Thesis assignment criteria

Average exam grade already taken of 27/30. Maximum of 3 exams still to be taken at the time of the thesis request. Proposed topic and mode of development of the work Submission to professor for approval of: Thesis title/topic Abstract in which you explain the objective of the thesis and how you want to carry out the work and first bibliographic references Meetings with the teacher will be organized only after the student has identified and deepened a topic of interest and started the research and always after work have been done with regards to the paper.

Week 1

Introduction to the course: objectives, methodology, tools and Teaching Team Introduction to entrepreneurial ethics (organization, respect for work and stakeholders) Entrepreneurial failure Discussion of real cases

Week 2

Definition of entrepreneurship Mindset of the entrepreneur Enterprise & Innovation: the main technology trend, Machine Learning & AI Italian entrepreneurial ecosystem: dimensions and actors; comparison with other markets Market Trends: how some new technologies are revolutionizing entire markets Discussion of real cases

Week 3

sustainability and social impact on businesses, inclusive entrepreneurship Market Trends: the effects of market crisis on the entrepreneurial fabric Introductory overview on the main phases of creating a business project Discussion of real cases

Week 4

Introduction to the first steps of building a business initiative: Identification of an opportunity, inventiveness and creativity: how a business idea is born How to identify and analyze the needs of the market: Customers needs and "customer centric" approach per personas Discussion of real cases

Week 5

Focus on the next steps in the construction of an entrepreneurial initiative: Value proposition of the product or service Market segmentation vs Customer segmentation Testing of the new product or service Discussion on real cases (ferrari clothing, toilet paper) Corporate communication plan and strategies Success stories / Lessons to learn Discussion of real cases Starting work on the Business Case - part 1/4

Week 6

Focus on the next steps in the construction of an entrepreneurial initiative: Competitor analysis Analysis of the market context (barriers, risks, opportunities) From market segmentation to economic estimation of the potential market Discussion of real cases Business Case work review

Week 7

Focus on the next steps in the construction of an entrepreneurial initiative: Business model: focus on Business Model canvas methodology Go to market strategies Discussion of real cases Business Case - part 2/4

Week 8

Focus on the next steps in the construction of an entrepreneurial initiative: Team and Governance Economic and financial plan and definition of the investment needs Discussion of real cases Business Case work review

Week 9

Focus on the next steps in the construction of an entrepreneurial initiative: Strategic and Operational Plan Strategy and Launch Plan Discussion of real cases Business Case - part 3/4

Week 10

Focus on the funding of a business initiative: Life cycle of a start-up and investment phases The funding of a business idea: tools and actors Working capital financing Other financing / investment measures Discussion of real cases Business Case work review

Week 11

Focus on the presentation of a business initiative: How to build a successful elevator pitch Discussion of real cases Pitch presentation in class Business Case - part 4/4

Week 12

Focus on investment management and exit: Methods for evaluating a company Investment management and exit strategy Discussion of real cases Business Case work review Focus on Entrepreneurship and impact-oriented innovation: Stakeholder map Impact-oriented strategies and objectives First methodologies and tools for impact assessment Discussion of real cases