Entrepreneurship
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Entrepreneurship Document Transcript

  • 1. Programme Curriculum for Master Programme in Entrepreneurship1. IdentificationName of programme Master Programme in EntrepreneurshipScope of programme 60 ECTSLevel Master levelProgramme code EAGENDecision details Board of the School of Economics and Management, 13 April, 2007Amendment details Board of the School of Economics and Management, 19 December, 2007 10 April, 2008, 16 June, 2010, 16 June, 20112. Programme descriptionIn a society characterized by increased dynamics and uncertainty, individuals with entrepreneurialskills are of vast importance. Entrepreneurial skills enable individuals to discover and exploitopportunities in the marketplace as well as drive innovation in existing companies. The programmeconsists of two tracks: (1) New Venture Creation, which focuses on the creation of new independentventures, and (2) Corporate Entrepreneurship and Innovation, which focuses on the entrepreneurialprocess in existing businesses. Students are to elect track when applying to the programme. Bothtracks focus on the process of recognizing and exploiting opportunities with growth potential, in thecontext of new ventures or in existing businesses. In addition, sustainability issues are given attentionthroughout the programme.The basis of the programme is the belief that entrepreneurship cannot be taught relying on traditionalforms of instructions only, but has to be assimilated through real experiences and apprenticeship.Therefore, the programme is characterized by an action-oriented educational approach that allowsstudents to initiate and carry out either a genuine entrepreneurial project with the goal of formingcompanies, or to develop a business project within an existing organisation. Founded in rigorousacademic research on entrepreneurship, the programme aims at providing students with a thoroughgrounding in theories related to the entrepreneurial process. At the same time students are encouragedto try out new ideas, knowledge and skills in practice in order to prepare for a future entrepreneurialcareer either in an independent new venture or in an existing organisation.Career opportunitiesThere seem to be a consensus that more entrepreneurial activities would benefit the entire society. Weneed new businesses as well as employees within existing organisations with an entrepreneurialapproach and behaviour that can exploit and develop new business ideas.Track 1: New Venture Creation, will encourage the students to start their own businesses and hencenot to rely on any specific labour market demand.In track 2: Corporate Entrepreneurship and Innovation, the students will assimilate knowledge that 1
  • 2. Lund University, School of Economics and Management EAGENwill make them suitable as project managers of innovative and entrepreneurial business projects inexisting organisations.Connections to further studiesToday, entrepreneurship is an established research within the most departments of BusinessAdministration in Sweden as well as in Europe at large. Given that other requirements are fulfilled,students that may be interested in applying to doctoral studies should have possibilities to fulfillingthe requirements for PhD programmes in Business Administration at universities around Europe.3. Learning outcomesThis master programme provides students a range of valuable skills, knowledge and insights thatprepares them for an entrepreneurial career. Learning outcomes refer to what a student will be able toknow or do at the end of the programme. The learning outcomes within this programme are describedbelow.These learning outcomes will be particularly useful for students aiming at pursuing an entrepreneurialcareer in the form of starting up their own venture, or an entrepreneurial career as development-/project managers for new business projects in established organisations. In addition the programmewill provide valuable knowledge and skills about entrepreneurial processes for individuals who willwork close to new ventures (business advisors, consultants, TTO managers, innovation directors,R&D directors, product development managers and general managers in larger organisations, etc.).The programme builds on the knowledge obtained in previous studies at the undergraduate level.In accordance with the Higher Education Ordinance, a Master of Science (60 credits) is awarded tostudents who at the completion of the programme accomplish the following:Track 1: New Venture CreationKnowledge and understanding- demonstrate knowledge and understanding of different aspects of new venture creation, and theirrole in business and society,- demonstrate knowledge and understanding of aspects of environmental sustainability and its role innew venture creation,- demonstrate knowledge and understanding within the field of entrepreneurship, including both abroad command of the field and deeper knowledge of certain parts of the field, together with insightinto current research and development work,- demonstrate knowledge and understanding of specific aspects of entrepreneurship as an independentnew venture (e.g. legislation, finance, planning, etc.), and the theoretical and practical implications ofthat knowledge and understanding; and- demonstrate deeper methodological knowledge in the field of entrepreneurship.Skills and abilities- demonstrate an ability to develop a business opportunity into a successfully launched venture- demonstrate an ability to critically examine and compile information into an effective business planfor carrying out a new venture project- demonstrate an ability to analyze the need of critical resources and capabilities for developing abusiness opportunity into a viable new venture- demonstrate an ability to apply methods of planning appropriate for new venture projects in highlyuncertain and/or fast-changing environments.- be motivated to systematically explore new business opportunities- demonstrate an ability to integrate knowledge and to analyse, assess and deal with complex 2
  • 3. Lund University, School of Economics and Management EAGENentrepreneurial issues and situations, even when limited information is available;- demonstrate an ability to clearly present and discuss their conclusions and the knowledge andarguments behind them, in dialogue with different groups, orally and in writing;- demonstrate the skill required to participate in research and development work or to work in otheradvanced contexts; and- demonstrate an ability to work in multicultural teams.Judgement and approach- demonstrate an ability to make assessments within entrepreneurship, taking into account relevantscientific, social and ethical aspects, and demonstrate an awareness of ethical aspects of research anddevelopment work;- demonstrate an understanding of the role of entrepreneurship and entrepreneurs for societaldevelopment and economic growth; and- demonstrate an ability to identify their need of further knowledge and to take responsibility fordeveloping their knowledge.Track 2: Corporate Entrepreneurship and InnovationKnowledge and understanding- demonstrate knowledge and understanding of different aspects of corporate entrepreneurship andinnovation, and their role in business and society;- demonstrate knowledge and understanding within the field of corporate entrepreneurship andinnovation, including both a broad command of the field and deeper knowledge of certain parts of thefield, together with insight into current research and development work; and- demonstrate deeper methodological knowledge in the field of corporate entrepreneurship andinnovation.Skills and abilities- demonstrate an ability to develop new business opportunities using techniques like ‘openinnovation’;- demonstrate an ability to review and evaluate various innovation strategies for exploiting newbusiness opportunities in existing organisations;- demonstrate an ability to manage and organise the exploitation of a business opportunity into asuccessfully launched project;- demonstrate an ability to analyze the need of critical resources and capabilities for successfullydeveloping the project;- be motivated to systematically explore new business opportunities within an existing organisation,- demonstrate an ability to apply relevant theoretical frameworks and models in order to analyze andsolve complex problems in corporate entrepreneurship situations;- demonstrate an ability to integrate knowledge and to analyse, assess and deal with complexphenomena, issues and situations, even when limited information is available;- demonstrate an ability to independently identify and formulate issues and to plan and, usingappropriate methods, carry out advanced tasks within specified time limits;- demonstrate an ability to clearly present and discuss their conclusions and the knowledge andarguments behind them, in dialogue with different groups, orally and in writing; and- demonstrate an ability to work in multicultural teams.Judgement and approach- demonstrate an ability to make assessments within corporate entrepreneurship and innovation,taking into account relevant scientific, social and ethical aspects, and demonstrate an awareness ofethical aspects of research and development work;- demonstrate insight into the potential and limitations of science, its role in society and people’s 3
  • 4. Lund University, School of Economics and Management EAGENresponsibility for how it is used;- demonstrate an understanding of the role of corporate entrepreneurship and innovation andcorporate entrepreneurs for societal development and economic growth; and- demonstrate an ability to identify their need of further knowledge and to take responsibility fordeveloping their knowledge.Independent project (degree project)For a Master of Science (60 credits) students must have completed an independent project (degreeproject) worth at least 15 higher education credits in entrepreneurship, within the framework of thecourse requirements.4. Course informationThe programme is divided into two tracks; (1) New Venture Creation, and (2) CorporateEntrepreneurship and Innovation. In this section more detailed information will be given for bothtracks.4.1. New Venture CreationThe programme has the following structure: Semester 1 (Autumn) Semester 2 (Spring) Period 1 Period 2 Period 3 Period 4 Sept-Oct Nov-Dec Jan-March April-JuneENTN01 The ENTN02 ENTN03 Market ENTN04 Managing NewEntrepreneurial Entrepreneuri Exploitation and Venture Growth (7.5Process and al Marketing Resource ECTS)Opportunity (7.5 ECTS) AcquisitionRecognition (7.5 ECTS)(7.5 ECTS) ENTN09 Entrepreneurial Project (30 ECTS)A year of study is divided into two semesters, which are further divided into two study periods.The programme consists of four compulsory courses equivalent to 30 ECTS credits along with theentrepreneurial project equivalent to 30 ECTS credits. The compulsory courses in the programmecover theories, methods and applications in entrepreneurship. More specifically, the courses deal withcritical issues related to the entrepreneurial process from opportunity recognition to opportunityexploitation. These issues can broadly be summarized into four problem areas: how to discovereconomically lucrative opportunities, how to identify and evaluate the most attractive industries andhow to identify and communicate with potential customers, how to marshal the resources to launch anentirely new business, and how to create competitive advantage in the new venture. In line with these 4
  • 5. Lund University, School of Economics and Management EAGENareas, the programme offers four courses that specifically deal with these critical issues, namely i) theentrepreneurial process and opportunity recognition, ii) entrepreneurial marketing: analysis andcommunication, iii) entrepreneurial finance and resource acquisition, and iv) managing new venturegrowth. In addition, the students will initiate and carry out their degree project – the entrepreneurialproject. This part of the course is a unique feature of the programme where students get to work witha real business project.The education will be given once a year and it starts in the end of August, and the end date will be inearly June the following year.The following courses are included in the programme.ENTN01 The Entrepreneurial Process and Opportunity Recognition, 7.5 ECTSThis course provides students with basic tools and methods to discover, sample and evaluate newbusiness opportunities. The course covers a range of creative problem-solving methods including ideageneration methods and the evaluation and implementation of creative ideas. The objective is not to“teach” creativity but to assist students to develop whatever creative capacity they bring to the coursein order to develop their abilities to discover and generate lucrative opportunities. The course consistsof four parts; introduction to the entrepreneurial process, opportunity recognition, entrepreneurialdecision making and teamwork in the new venture creation process.ENTN02 Entrepreneurial Marketing, 7.5 ECTSThe aim of this course is twofold. It introduces students to a comprehensive approach to analyzeindustry/market conditions and tools on how to gather information about their potential markets. Theskills to be developed include analyzing principal dimensions of competition, investigating theposition and performance of current players, appreciation of the feasibility and desirability of apotential idea, product or service, and identification of key factors contributing to the efficiency ofindustry operations.In addition, it introduces the students to how to communicate their business idea, product or serviceto potential investors, customers and other stakeholders. The course consists of three parts; industryand competitor analysis, customer analysis and market research, and market communication in newventures.ENTN03 Market exploitation and resource acquisition., 7.5 ECTSThis course provides students with basic tools and methods to analyze the need of critical resourcesand capabilities for developing a business idea into a viable new venture. The course covers criticalissues associated with entrepreneurial finance and resource acquisition, such as marshallingresources, sources of financing potentially available to new ventures, financial accounting for newfirms, valuation of new firms and the impact of networks and alliances on strategic resourceacquisition.ENTN04 Managing New Venture Growth, 7.5 ECTSThis course provides students with knowledge and skills to understand why some new ventures growand how growth can be achieved. The course covers critical issues for managing new venturedevelopment and growth, such as the characteristics of growing firms, alternative growth strategies,changes and transitions on the organizational level, and growth environments. The course also coversthe changing role of the entrepreneurial team and exit strategies available to founders.ENTN09 Entrepreneurial Project, 30 ECTSDuring the second study period, the students start to work with their entrepreneurial project. Theproject is based on the development of a potential business opportunity that stem from research atLund University, firms in the Öresund region, or students’ own projects. The basic aim of theentrepreneurial project is to commercialize research that is conducted at universities and companies, 5
  • 6. Lund University, School of Economics and Management EAGENat the same time as entrepreneurs are developed. The entrepreneurial project is an important part ofthe programme as it provides students the opportunity to learn how to successfully commercialiseresearch-based new venture ideas into viable businesses. Successful completion of the entrepreneurialproject is required to obtain the certificate at the end of the master education.It should be explicitly mentioned that successful completion of the entrepreneurial project does notnecessarily mean that the project must end up as a successfully launched venture, although this is adesired goal. A project may as well be decided to be abandoned at the end of the studies after acareful analysis of the new venture idea. What is important is that the entrepreneurial project hasserved as a learning process and that the students involved have been equipped with valuableexperiences that can be utilized in future entrepreneurial ventures.The process of carrying out students’ entrepreneurial projects will be characterized by continuoussupervision, “milestones” with written and oral reports, and contact with external mentors. Eachproject group will have access to a tutor (a person from the staff management) and a coach (anexperienced professional). These persons will follow the project from beginning to end in order toassess, modify and add new aspects to the project. Depending on the project’s character andtechnology a specialist can also be connected to the project.4.2. Corporate Entrepreneurship and Innovation Semester 1 (Autumn) Semester 2 (Spring) Period 1 Period 2 Period 3 Period 4 Sept-Oct Nov-Dec Jan-March May-JuneENTN31 ENTN32 ENTN33 Organizing for ENTN34Corporate Innovation innovation and Integrationentreprene manageme entrepreneurship workurship (7.5 nt and open (7.5 ECTS)ECTS) innovation (7.5 ECTS) ENTN39 Internship and degree project (30 ECTS)The track Corporate Entrepreneurship and Innovation consists of four compulsory courses equivalentto 30 ECTS credits along with an internship in an existing organisation together with a degree projectequivalent to 30 ECTS credits. The compulsory courses in the programme cover theories, methodsand applications in corporate entrepreneurship and innovation. More specifically, the courses dealwith critical issues related to the management of the entrepreneurial process, from identification ofnew opportunities to the launching of the project, within the framework of an existing organisation. Inorder to accomplish the process of corporate entrepreneurship the programme the programme offersfour courses, namely a) theory and models in corporate entrepreneurship, b) innovation managementand open innovation, c) organising for innovation and entrepreneurship, and d) integration work oncorporate entrepreneurship. In addition, the students will initiate and carry out their degree project.This part of the course is a unique feature of the programme as the students should anchor theirdegree project in a particular problem related to the exploitation of a business project in theorganisation in which they take their internship.The education will be given once a year and it starts in the autumn, and the end date will be in earlyJune the following year. 6
  • 7. Lund University, School of Economics and Management EAGENThe following courses are included in the programme.ENTN31 Corporate Entrepreneurship, 7.5 ECTSThis course provides students with basic theories and models related to corporate entrepreneurship,but it will also give an understanding of the importance of corporate entrepreneurship in a society andfor business development. The course consists of four parts: (i) introduction to corporateentrepreneurship (importance and characteristics), (ii) models and theories in corporateentrepreneurship, (iii) the entrepreneurial process in corporate entrepreneurship, and (iv) examplesand cases of corporate entrepreneurship.ENTN32 Innovation Management and Open Innovation, 7.5 ECTSThis course introduces students to the concepts of innovation and innovation management in existingbusinesses, and skills will be developed regarding ‘open innovation’ techniques. The aim of thecourse is to give an understanding of the creation of new ideas and the management of innovations inexisting organisations. The course consists of four parts: (i) the concept and process of innovation, (ii)innovation management in existing organisations, (iii) ‘open innovation’ – concept and techniques,and (iv) innovation strategies applied in order to exploit innovations on a market.ENTN33 Organising for Innovation and Entrepreneurship, 7.5 ECTSThis course provides students with tools and methods for creating an entrepreneurial mindset andorganising for innovative activities in existing organisations. This also includes networking forinnovative activities within and between organisations as well as the leadership of innovativeactivities in existing organisations. In addition, the course covers critical issues for marketdevelopment and the management of business growth in existing organisations.ENTN34 Integration Work, 7.5 ECTSAt the end of the programme students will have gained theoretical knowledge as well as practicalexperience from their internship in an existing organisation. In this final course on the programme,the students will use this knowledge and understanding to analyse and solve complex problems incorporate entrepreneurship situations. The course will be based on cases that will be solved in groupsof 2-3 students, and the aim will be to integrate the knowledge and understandings that the studentshave achieved throughout the programme.ENTN39 Internship and Degree Project, 30 ECTSAt the end of the autumn semester the students will start their internship for an existing organisation.During their internship the students should be working with an entrepreneurial project in theorganisation. The basic aim is to actively work with the development and commercialization of a newbusiness idea within the organisation. To follow and reflect on the project the students have to write alearning journal throughout the process. In addition, during the internship the students have to writetheir degree thesis. The degree thesis should be based on a topic (aspect, problem) related to thedevelopment of the entrepreneurial project.5. DegreeUpon successful completion of the programme a Master of Science (60 credits) will be awarded incompliance with the National Higher Education Ordinance (SFS 2006:1053). Major will be inEntrepreneurship. In Swedish the degree will be: Filosofie magisterexamen, huvudområdeentreprenörskap. 7
  • 8. Lund University, School of Economics and Management EAGEN6. Admission requirements and selection criteriaa. An undergraduate degree (BA/BSc) of at least three years, 180 ECTS credits.b. A good command of English language both spoken and written, equivalent to English course B (advanced level) in the Swedish secondary system. Equivalence assessments will be made according to national guidelines.The regulations in the general requirements concerning knowledge of the Swedish language are notapplicable for international applicants.Selection criteriaSelection will be based on the statement of purpose.7. Other informationCourses at the School of Economics and Management are graded according to the criterion-referencedprincipal grades A-F: GRADE POINTS CHARACTERISTIC A Excellent 100-85 A distinguished result that is excellent with regard to the following aspects – theoretical depth, practical relevance, analytical ability and independent thought. B Very good 84-75 A very good result with regard to the above mentioned aspects. C Good 74-65 The result is of a good standard with regard to the above mentioned aspects and lives up to expectations. D Satisfactory 64-55 The result is of a satisfactory standard with regard to the above mentioned aspects and lives up to expectations. E Sufficient 55-50 The result satisfies the minimum requirements with regard to the above mentioned aspects, but not more. F Fail 49-0 The result does not meet the minimum requirements with regard to the above mentioned aspects.It is up to the teaching professor to decide whether the credits of a course should be converted into atotal of 100 points for each course, or if the scale above should be used as percentage points of anychosen scale instead.Disciplinary actions against plagiarismThe University views plagiarism very seriously, and will take disciplinary actions against students forany kind of attempted malpractice in examinations and assessments. The penalty that may be imposedfor this, and other unfair practice in examinations or assessments, includes suspension from theUniversity. 8