Entrepreneurship and the Creation of New Firms

2025/2026

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Management

Course type:

Elective course

When:

1 year, 4 module

Instructors

Kozachenko, Ekaterina

Shirokova, Galina

Course Syllabus

Abstract

This intensive 6-week master's level course provides students with comprehensive knowledge and practical skills in entrepreneurship and new venture creation. The course examines entrepreneurship as both a mindset and a manageable process applicable in various organizational contexts. Students will explore the complete entrepreneurial journey from opportunity recognition through business concept development, feasibility analysis, business model design, and venture launch planning. The course integrates theoretical frameworks with hands-on practice, emphasizing effectuation principles, lean startup methodology, and business model innovation. Students will work in teams to develop original business concepts and create comprehensive business models demonstrating market and economic feasibility. Through lectures, case discussions, interactive workshops, and group projects, students will develop entrepreneurial thinking applicable to startups, growing ventures, and corporate innovation contexts. Key topics include: entrepreneurial mindset and behavior, opportunity recognition and evaluation, business concept development, business model canvas, feasibility analysis, lean startup methodology, resource acquisition, team formation, and venture launch strategies. The course culminates in team presentations of fully developed venture concepts with supporting business models.

Learning Objectives

• Understand entrepreneurship as a process, mindset, and behavior applicable across diverse organizational settings including startups, small businesses, and corporate ventures
• Recognize, evaluate, and develop entrepreneurial opportunities using systematic frameworks and creative thinking techniques
• Translate business ideas into well-articulated business concepts and innovative business models
• Apply feasibility analysis methods to assess product/service, market, organizational, and financial viability of venture concepts
• Utilize contemporary entrepreneurship frameworks including effectuation, lean startup methodology, and business model canvas
• Develop practical skills in venture creation including team formation, resource identification, and business planning
• Demonstrate critical and creative thinking in entrepreneurial problem-solving and decision-making contexts

Expected Learning Outcomes

• Analyze and critically evaluate entrepreneurial opportunities using multiple assessment frameworks and distinguish between viable and non-viable business concepts
• Synthesize theoretical knowledge and practical application to develop complete venture concepts from ideation through launch planning
• Demonstrate creative problem-solving and opportunity recognition skills through application of design thinking and business ethnography methods
• Design innovative business models using business model canvas framework, articulating value propositions, revenue streams, key resources, and cost structures
• Conduct comprehensive feasibility analysis including product/service, market, organizational, and financial assessments
• Apply effectuation principles and lean startup methodology to reduce uncertainty and validate business assumptions in early-stage ventures
• Effectively communicate business concepts and models through written pitch books and oral presentations to diverse stakeholders
• Collaborate effectively in entrepreneurial teams, demonstrating skills in team dynamics, project management, and collective decision-making

Course Contents

• Introduction to Entrepreneurship and Entrepreneurial Mindset
• Opportunity Recognition and Creative Thinking
• Business Concept Development and Business Model Design
• Feasibility Analysis and Lean Startup Methodology
• Lean Startup, Resource Acquisition, and Venture Launch Planning
• Venture Presentations and Course Synthesis

Assessment Elements

• Class Participation and Engagement
• Individual Assignments
  One individual written assignment requiring application of course frameworks to real entrepreneurial contexts
• Group Project (Pitch Book and Presentation)
  Project with written report and oral presentation. Offline presentation + online written submission. Team-based entrepreneurial venture development project (teams of 4-5 students). Teams develop original business concept from ideation through complete business model and feasibility analysis, culminating in pitch book report and oral presentation.

Interim Assessment

• 2025/2026 4th module
  0.3 * Class Participation and Engagement + 0.5 * Group Project (Pitch Book and Presentation) + 0.2 * Individual Assignments

Bibliography

Recommended Core Bibliography

• 9781119690672 - Steve Blank-Bob Dorf - The Startup Owner's Manual : The Step-By-Step Guide for Building a Great Company - 2020 - Wiley - https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=2417445 - nlebk - 2417445
• Business model generation : a handbook for visionaries, game changers, and challengers, Osterwalder, A., 2010
• Feld, B., & Mendelson, J. (2019). Venture Deals : Be Smarter Than Your Lawyer and Venture Capitalist (Vol. Fourth edition). Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2238516
• Osterwalder, A., Smith, A., Bernarda, G., & Pigneur, Y. (2014). Value Proposition Design : How to Create Products and Services Customers Want. Hoboken: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=945730
• The business model navigator : the strategies behind the most successful companies, Gassmann, O., 2020

Recommended Additional Bibliography

• Ries, E. (2011). The Lean Startup : How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Currency. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=733896

Authors

• KOZACHENKO EKATERINA VLADIMIROVNA
• Shirokova Galina Viktorovna