20522 - MANAGING THE GROWING ENTREPRENEURIAL VENTURE
Course taught in English
Go to class group/s: 31
Class-group lessons delivered on campus
In order to deal with this course’s contents, students should recall concepts of Strategy and Corporate Finance.
The rising interest in entrepreneurship has become a regular topics discussed worldwide. In the U.S only, for the past 10 years, on average 600,000 new businesses have been incorporated each year. Entrepreneurial firms have a crucial contribution for businesses, as they become part of a renewal process of declining economies with their innovation, which leads to technological changes and growth in productivity. Able business owners always think about major industry shifts and new technologies that significantly impact the way they operate in the years ahead. Focus of the course is the launch of new entrepreneurial ventures, and value creation as the company grows, which often requires financial support. The course examines the creation, assessment and implementation of new industrial projects, from a strategic and a managerial point of view. We then explore the criteria that the company must follow in the search of the optimal financial support, and to effectively manage relationships with the specialized intermediaries. The course focuses on generating value from the invested capital, i.e. the left-hand side of the Balance Sheet, as opposed to courses that analyse Private Equity firms, which focus instead on the right-hand side of the Balance Sheet. The underlying theme of the entire course is the role of the entrepreneur, from the start-up of a new venture, to its development and sale.
The course deals with the decisions that new ventures need to take in order to define their development programs, and to select the most appropriate financial sponsor for the company. It focuses on the development of a valuable business plan, and covers the way to approach financial investors.
- Learn how to spot new business opportunities.
- Analyse and evaluate new business opportunities available on the market.
- Identify the financing options available for early-stage companies.
- Set the pace for growing the early venture.
- Structure and develop the business plan for a new entrepreneurial venture.
- Structure and negotiate a fundraising round.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Case studies /Incidents (traditional, online)
- Group assignments
- The learning experience of this course is mainly based on face-to-face lectures.
- The course is carried out with an extensive use of case studies, and the involvement of some guest speakers, mostly start-uppers. The use of cases and external speakers aims at better connecting the body of knowledge covered in the course with real life examples.
- Attendance is not compulsory although strongly recommended given the constant use of case discussions and guest speakers’ presentations.
The evaluation of attending students is based on these graded components: 1. Class participation: 20%; 2. Written group assignment: 20% and 3. Final in-class written exam (individual): 60%.
- Class Participation (20%): attending students are expected to actively contribute to their own and others learning during the case discussions and debates. To successfully complete the course requirements, you need to participate in class on a regular basis, be able to voice your own views in the plenary sessions, consider the arguments and reasoning of your colleagues, and decide whether to change your point of view or not. Contributing only “active listening” during class discussions is not sufficient to earn a good mark nor is taking up “air time” simply to talk in class. The best participation marks go to those students who make insightful comments or ask substantive questions and who contribute to the learning of others.
- Written Group Assignment (20%): attending students need to organise themselves into groups, in order to analyse and write-up the questions of a case study.
- Final in-class Individual Written Exam (60%): the written exam includes 8 open questions (to be answered in about 1,5h). The exam is closed-books. The examination questions test the degree to which an individual student comprehends the concepts covered in the course.
Non-attending students are evaluated with a written exam, on the course materials, including slides, background notes and cases.
- All the materials (slides, chapters of the book, articles, cases) included in the program is mandatory for all students (attending and non-attending students).
- All the materials are accessible on Course Reserve or uploaded on the Bboard platform.