New Venture Creation & Strategy for Digital Startups
Integrated course, 4.00 ECTS
This course unit provides the following learning content:
A: New Venture Creation
1.) Entrepreneurial theory & lifecycles
2.) Systematic and cyclic business planning approaches
3.) Understanding the entrepreneurial landscape, stakeholders and trends
4.) Steps and decisions for establishing a startup
B: Strategy and Planning for Digital Businesses
1.) Strategy for epic businesses
2.) Lean approaches for startups
3.) Strategy validation instruments
C: Disciplined Entrepreneurship Approach
1.) Market segmentation
2.) Selecting a beachhead market
3.) Profile the persona for the beachhead market
4.) Calculate the total addressable market (TAM) size for the beachhead market
5.) Full life-cycle use case and value proposition
6.) Charting the competitive position
7.) Setting the pricing framework
8.) Design a business model
Students are expected to achieve the following learning outcomes:
A: Identify business opportunities and apply systematic and cyclic business planning approaches; students are made familiar with the steps for starting a business.
B: Generate a vision, market position and value proposition for the startup and develop lean approach concepts for testing business ideas
C: Calculate a business case by setting the beachhead TAM, detailed customer profiles and pricing.
Recommended or required reading and other learning resources / tools
Aulet, B. (2013). Disciplined Entrepreneurship. Wiley.
Ries, E. (2017). The Lean Startup. How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Random House.
Faschingbauer (2017). Effectuation. Wie erfolgreiche Unternehmer denken, entscheiden und handeln. Schäffer-Pöschel Verlag für Wirtschaft, Steuern, Recht.
Ramanujam, M. & Tacke, G. (2016). Monetizing Innovation. How Smart Companies Design the Product Around the Price. Wiley.
Selected articles from the Journal of Small Business Management, Academy of Management, Harvard Business Review, Journal of Business Venturing, Entrepreneurship: Theory & Practice, Case examples of top startups
Mode of delivery
Prerequisites and co-requisites
Assessment methods and criteria
Written examination and seminar paper