Universitat Internacional de Catalunya
Entrepreneurship, Strategy & Business Modelling
Teaching staff
Office hours:
Lecturer: Juanjo Marín
- Phone: +34 673 333 282
- E-mail: jmarinm@uic.es
- Office: Inmaculada, 22. 08017 Barcelona. Spain.
- Office hours: by appointment
Introduction
This course presents the concept of entrepreneurship and the related theories as well as Defining Business Models and Strategy. The course also covers business Model Patterns and Operations, and the Role of Information Management and Business Model Design. The ultimate goal is to help students generate their own Business Plan.
Pre-course requirements
Solid financial knowledge:
- Accounting
- Financial analysis
- Corporate finance
Objectives
Students will build the capabilities to assess the value potential of their ideas, evaluate their value proposition and how to launch their own company.
By the end of the course, students should be able to:
- Understand of the concept of entrepreneurship
- Know the main models, techniques and methodologies used in creating a business plan
- Turning initial business idea into a real operating business
- Understand what a business model is and what it is not
- Understand how to think about a business strategy independent of and then related to a chosen business model
- Identify and define a company’s business model and explain how it relates to the company’s chosen strategy – target market, value proposition, source of competitive advantage – and relate them to existing business model archetypes
- Evaluate the appropriateness of a business model for a given market situation and chosen positioning
- Implement a business plan including monitoring as well as fund-raising with investors
- Identify the operational risks associated with implementing a chosen business model and understand the approaches available to mitigate those risks
Competences/Learning outcomes of the degree programme
- CB6 - To possess and understand knowledge that provides a basis or opportunity to be original in the development and/or application of ideas, often in a research context.
- CE2 - Analyse entrepreneurial business ventures from multidisciplinary contexts in order to detect new market opportunities that can be transformed into commercial products or services.
- CE7 - Identify and develop new business opportunities, taking into account pioneering and innovative technology-based business models.
- CE9 - Apply and adapt knowledge and experiences of entrepreneurship and financial structures in real contexts by analysing their viability, implementation and impact, thus gaining expertise in the creation of new market opportunities.
- CG3 - Generate new ideas and critically evaluate alternatives against numerous criteria whilst bearing in mind the multiple actors involved.
- CG4 - Contrast ideas and make decisions with methodological rigour, being prepared to take full responsibility for these decisions.
- CT2 - Have the capacity to reflect and think critically in interdisciplinary contexts.
Learning outcomes of the subject
By the end of the course, students should be able to:
- Understand of the concept of entrepreneurship
- Know the main models, techniques and methodologies used in creating a business plan
- Turning initial business idea into a real operating business
- Understand what a business model is and what it is not
- Understand how to think about a business strategy independent of and then related to a chosen business model
- Identify and define a company’s business model and explain how it relates to the company’s chosen strategy – target market, value proposition, source of competitive advantage – and relate them to existing business model archetypes
- Evaluate the appropriateness of a business model for a given market situation and chosen positioning
- Implement a business plan including monitoring as well as fund raising with investors
- Identify the operational risks associated with implementing a chosen business model and understand the approaches available to mitigate those risks
Syllabus
SESSION 1. Lecture
The Entrepreneur. What is Entrepreneurship.
SESSION 2. Lecture
Defining Business Models. Assessing New Business Opportunities (I).
Reading:
“Business Model: Definition of a Business Model; The 9 Building Blocks”
Business Model Generation. Alexander Osterwalder 2010. John Wiley & Sons Inc
“Assessing a New Business Opportunity”
Rob Johnson. 2013. IESE EN-17-E
“The Questions Every Entrepreneur Must Answer”
Amar Bhide. 2004. HBR 87584-910-5
SESSION 3. Lecture
Defining Business Models. Assessing New Business Opportunities (II)
Industry Analysis and Positioning
Reading:
“Strategy in the XXI Century: Business Models in Action”
J E Ricart 2012. IESE SMN-685
“Why the Lean Start-Up Changes Everything”
Steve Blank. 2013. Harvard Business Review
“The five competitive forces that shape strategy”.
Michael E. Porter. 2008Harvard Business Review, 86(1), 25-40.
SESSION 4. Business Case
A new Business Model: BuyVip (case discussion)
Reading:
IESE E-177 BuyVip
SESSION 5. Speaker (t.b.c.)
Quim Falgueras. GRUPO INTERCOM (Infojobs). CEO & Founder
SESSION 6. Lecture
Product Development: Customer Development, MVP
Reading:
Chapters 1, 2, 3 (The Four Steps to Epiphany)
The Startup Owner’s Manual . Steve Blank & Bob Dorf. 2012. K and S Ranch Inc
SESSION 7. Lecture
Business Models Design Process
Reading:
Value Proposition Design. Alex Osterwalder and Ives Pigneur. Strategyzer 2014
SESSION 8. Business Case
Reading:
IESE SI-194 Fresh Direct
SESSION 9. Lecture
Business Model Patterns
Reading:
Business Model Patterns
Business Model Generation. Alexander Osterwalder 2010. John Wiley & Sons Inc
SESSION 10. Speaker (t.b.c.)
Pep Casas. Business Angel (Olapic)
SESSION 11. Business Case
Small Shoes Designers (SSD). Presentation
SESSION 12. Conclusions
Session 13: The Business Plan. How to write a great Business Plan.
Reading:
IESE PN-332 Developing a Business Plan
HBS 97409-E How to write a great Business Plan
Session 14: Continue Building a Business Plan (lecture)
Session 15: Cohorts - Business Case
Reading:
eSig Conversion Funnel Analysis
Session 16: Continue Cohorts
Session 17: Legal Considerations for Entrepreneurs
Reading:
Technical Note Early Stage Term-Sheet
Session 18: Introduction Growth Hacking Marketing
Reading:
Growth Hacker Marketing. A Primer On The Future Of PR, Marketing, And Advertising, by Ryan Holiday (Worth Reading)
Session 19: Startup Technology - CTO
Session 20: Business Case
Reading:
Business Model Innovation at Wildfang
Session 21: Continue Business Case
Session 22: Focus B2B
Session 23: B2B simulation Tool
Session 24: Last class, to go deep on any topic the students want or work in the Final Project
* The order and/or content of sessions could be modified depending on the evolution of the course.
Teaching and learning activities
In person
The course focuses on the main topics involved in entrepreneurship, business strategy and modelling. This course seeks to provide the founding principles and knowledge for both future professionals managers of businesses and entrepreneurs. Students are encouraged to learn how to use well-researched theories about strategy, innovation and business management.
The methodology of the course is integrative, student-oriented and practical. It combines both theoretical content with exercises in class. Students are expected to work on a business idea and develop their Business Plan throughout the course. The sessions are thought to foster the learning process and support the successful development of the Business Plan which will be pitched and graded at the end.
We will learn at class the most important entrepreneurial concepts and theoretical frameworks to start practicing them with a “learning by doing” approach. Therefore, students are asked to develop a holistic point of view able to integrate the knowledge acquired in other courses along with this course.
In short, the course seeks to identify critical success factors in creating and managing business and gives the student the opportunity to exercise related skills with an active and practical methodology. Students can expect the following learning activities:
- Synchronous lectures and tutorials
- In-class and online role-play activities: Students take on an assigned role in a group or individual activity
- Group-work activities where students work collaborate in a “Wiki” at Moodle in order to prepare online presentations of a case study analysis to the whole class
- Asynchronous discussion forum
- Problem-based learning in-class and online activities
- Discussion boards, chat, e-mail, blogs, video conferencing, desktop sharing applications and whiteboards
All the learning material required to follow the content of the class will be provided to the students either through the intranet of the UIC or handled in person.
The attendance to class is expected to be in-person but could be held online or in a combination of both (in blended) using tools such as Moodle, in case of lockdown or if necessary.
The language will be English. Students that wish to develop further or deepen their knowledge on a topic are encouraged to do so through the additional bibliography suggested.
Evaluation systems and criteria
In person
Class Participation: 30%
Pitch (presentation): 20%
Business Plan: 50%
- Class participation (30% of final grade): Evaluates your preparation for class discussions, not your class attendance record. Missing classes or coming unprepared to classes lowers your grade for this evaluation element. A missed class, whether justified or unjustified, counts as an unprepared class. If your attendance falls below 80%, this grade will fall to zero. A student can have a perfect attendance record and still score zero in participation grade. A failure to actively participate in group and class activities during the discussions of cases and articles will be considered as an indication that a student has not prepared for the class. Do not think of this grade as an entitlement or a gift – it has to be EARNED. Sample of activities:
- On-line quizzes and tests
- Reflective exercises
- Peer assessment of student publications
- Electronically submitted essays, reflective learning journals, blogs
- Collaborative projects
- Individually written assignments submitted electronically
- Mandatory discussion participation
- Elaboration of thought, enriching of class discussions, summary or reflection
- Pitch (20% of final grade): Oral presentation of your business plan with the most important aspects. Students are asked to prepare a presentation in PowerPoint or a similar format following the structure of an “Elevator Pitch”, with only the main aspects of the business plan (i.e.: problem/necessity that tackles/satisfies, market size, competitors benchmark, description of product/service, profitability, details and objectives of the investment round…). Each participant will have 15 minutes long presentation, followed by a Questions and Answer round (Q&A) of 5 minutes where other students are encouraged to ask. Students will grade other’s participants, and their grade will account for 50% of this part, the other 50% will be graded by the Professor. The sum of both will be the grade of the Pitch.
- Business Plan (50% of the final grade): Includes a written, detailed business plan document + excel modeling. Minimum of 5 out of 10.
To obtain a passing course grade, you must obtain a final project grade equal or greater than 5.0 AND the total course grade that is equal to or greater than 5.0.
In case of failure in the first chance, there will be a second chance to pass where the student will be able to pass, but with a penalty. The minimum grade to pass will still be 5 but out of 8. Hence, students in the second chance can get a maximum grade of 8 instead of 10 in this part.
There is no exam scheduled.
Plagiarism, copying or any other action that may be considered cheating will be zero in the evaluation.
Bibliography and resources
1) The Lean Start-Up. Erick Ries
2) Four Steps to the Epiphany. Steve Blank
3) The Startup Owner’s Manual. Steve Blank & Bob Dorf
4) Business Model Generation. Alexander Osterwalder 2010. John Wiley & Sons Inc
5) Growth Hacker Marketing. Ryan Holliday.