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| Detailed information |
| Pre-requisites |
SE BC2: Induction: Team development UND SE BC1: Foundations of management UND KS BC3: Foundations of management science
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| Original study plan |
Master's programme Leadership and Innovation in Organizations 2024W |
| Objectives |
Course objectives for the "Entrepreneurship and New Business Venturing" seminar include:
- Understanding the Disciplined Entrepreneurship Framework: Comprehensive understanding of Bill Aulet's method, focusing on its systematic approach to entrepreneurship.
- Idea Generation and Validation: Teach students to generate, assess, and refine business ideas for viability and market relevance.
- Strategic Market Analysis: Insights into conducting market analyses, identifying target segments, and understanding market dynamics.
- Business Model Development: Principles of creating innovative, sustainable business models, with an emphasis on adaptability and scalability.
- Financial Planning for Startups: Educate on the fundamentals of financial planning, including budgeting, forecasting, and resource allocation for new ventures.
- Effective Pitching Techniques: Instruction on developing and delivering compelling pitches to potential investors and stakeholders, focusing on communication skills and persuasion strategies.
Learning Outcomes
On successful completion of this course/seminar, the students will be able to:
- LO1 Remember key principles of the Disciplined Entrepreneurship framework and fundamental concepts in entrepreneurship.
- LO2 Understand various market analysis techniques and their relevance in identifying business opportunities.
- LO3.1 Apply business model development strategies to create viable and scalable business cases for their startup ideas.
- LO3.2 Apply social skills to navigate a team project successfully.
- LO3.3 Apply AI to support the startup process.
- LO4 Analyze case studies and real-world examples to identify strengths and weaknesses in business strategies.
- LO5 Evaluate strategies for product-market fit, assessing their effectiveness in the context of startup sustainability and growth.
- LO6 Create and deliver effective business pitches, demonstrating their ability to synthesize and communicate complex business ideas persuasively.
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| Subject |
The "Entrepreneurship and New Business Venturing" course, structured around Bill Aulet's "Disciplined Entrepreneurship" method from MIT, aims to blend theoretical insights with robust practical application. This method emphasizes a systematic approach to entrepreneurship, focusing on identifying market opportunities, defining target customer segments, and developing unique value propositions. The course aims to deepen understanding of critical aspects such as product-market fit, business model innovation, and go-to-market strategies. By applying the Disciplined Entrepreneurship framework, students will learn to navigate complex business landscapes, developing and validating business ideas while acquiring essential skills in strategic thinking and decision-making. This comprehensive approach ensures a well-rounded entrepreneurial education, preparing students for the challenges of new venture creation in a dynamic business environment.
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| Criteria for evaluation |
The "Entrepreneurship and New Business Venturing" course's assessment strategy is designed to rigorously evaluate students' mastery of the learning outcomes (LO1-6):
- Disciplined Entrepreneurship Project (40%): Targeting LO1, LO3.1-3, and LO5, this project assesses students’ understanding and application of the Disciplined Entrepreneurship framework, their ability to develop viable business models, and evaluate product-market fit.
- Pitch (40%): Directly linked to LO6, the pitch presentation evaluates students’ ability to synthesize and communicate their business concepts persuasively.
- Handout (10%): This assesses LO2 by requiring a summary of market analysis techniques used in their projects, showing comprehension of their relevance.
- Reflection Paper (10%): Focusing on LO4 and LO5, students will analyze case studies and reflect on strategies for product-market fit in their own projects.
Feedback will be individualized and may include peer assessments to foster a collaborative learning environment. Digital technology will be used for submissions, feedback, and peer assessments, ensuring a comprehensive and accessible evaluation process. Each assessment method is meticulously chosen to measure the corresponding LOs, ensuring students meet the course objectives.
In total, students have the possibility to reach 100 points and final grades will be given as follows:
- Sehr gut = 88-100 points
- Gut = 75-87 points
- Befriedigend= 62-74 points
- Genügend = 50-61 points
- Nicht genügend = 0-49 points
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| Methods |
- Lectures and Discussions: Theoretical concepts are introduced through lectures, with active student participation through discussions and workshop-style teaching.
- Group Projects and Workshops: A major emphasis is placed on group projects, where students collaboratively develop the project-market fit of their own business case. This involves following the steps of the Disciplined Entrepreneurship method, engaging in comprehensive market analysis, and applying theoretical concepts to real-life scenarios. This approach is vital for understanding and practicing the intricacies of launching a successful venture.
- Pitching Sessions and Feedback Rounds: Students practice creating and presenting business pitches, receiving constructive feedback for improvement.
- Self-Directed Learning and Research Assignments: Independent research tasks to deepen understanding and application of entrepreneurship principles.
- AI-use: students are actively encouraged to use various AI tools to facilitate the startup process.
These methods are designed to achieve the course's learning outcomes, emphasizing practical application and collaborative learning.
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| Language |
English |
| Study material |
Core material:
- PDF slides (after each unit)
- Aulet, B. (2013). Disciplined entrepreneurship: 24 steps to a successful startup. John Wiley & Sons.
- Aulet, B. (2017). Disciplined entrepreneurship workbook (C. Snyder, Ed.). Wiley.
- Mollick, E. (2020). The unicorn's shadow: Combating the dangerous myths that hold back startups, founders, and investors. Wharton School Press.
- Chapter 1: Founders
- Chapter 2: Idea
- Chapter 4: Pitching
- Fitzpatrick, R. (2014): The Mom Test. How to talk to customers and learn if your business is a good idea when everyone is lying to you. Amazon Distribution, Leipzig.
Additional material:
- Berkun, Scott (2010): The Myths of Innovation. O'Reilly. p. 175-187How to pitch an idea
- Kawasaki, Guy (2004): The art of the start 2.0. The time-tested, battle-hardened guide for anyone starting anything. Revised and expanded edition. New York: Portfolio/Penguin.
Relevant materials can be retrieved from MOODLE and/or will be announced in class.
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| Changing subject? |
No |
| Further information |
For quality assurance and improvement purposes, please participate in all
JKU course evaluations and surveys!
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| Corresponding lecture |
986CABUCB3S19: CB3 Understanding entrepreneurship
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