ENTREPRENEURSHIP
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