Most academic entrepreneurship courses are about “How” - to start a new venture. This course explores the question “Why?” by looking at what’s happening in global entrepreneurship. It starts by positioning entrepreneurs as agents of change in the world economy, and looks at how this change is manifested differently around the world.
It is suitable for future game-changers, but also for anyone who wants to understand the role that entrepreneurs, institutions and organisations play in driving innovation in business and society.
Global Entrepreneurship considers the economic and social impact of entrepreneurs, their interactions with institutions, how opportunities arise and are evaluated, and the role of social enterprise and entrepreneur philanthropy in the economic cycle. The course includes strategies for assessing the potential of new business concepts, and introduces frameworks to assess and to mitigate key risks to new ventures including those relating to personnel, markets and technologies.
It looks at how culture - national and organisational - creates the environment to support new venture creation and manage risk around that venture. It uses case studies of some of the most globally successful ecosytems such as Silicon Valley, to explore how environment interacts with the innovation process. It asks who are the global entrepreneurs of the future, and where will they come from?
Governments, investors and regulators might all support entrepreneurship according to particular ideas of what ‘value’ is. Hence we include the role of public institutions in exploring some of the values, risks and behaviours that support, and sometimes clash with, entrepreneurship around the world.
Included in our discussions are how entrepreneurship could further disrupt what has been viewed as traditional business operations. Some businesses, and even regions of the world, are more able to innovate than others. What will this mean for the global distribution of value creation in the future?
By the end of the course students should be able to:
Evaluate global entrepreneurial ecosystems, and the drivers to create these
Explore how public and private stakeholders interact with and promote entrepreneurship
Originate methods for the development and promotion of entrepreneurial ecosystems within a variety of gloabl contexts
Evaluate business models and be able to construct an entrepreneurial business model to create different expression of “value”
Evaluate entrepreneurial opportunities and the processes by which entrepreneurs pursue opportunity
- Who are entrepreneurs; how do they behave? How do they discover and shape opportunities?
- What is the economic basis of entrepreneurship in society, and the importance of failure to entrepreneurs and society?
- The role of governments, philanthropists and institutions in creating the envrionment for entrepreneurship?
- How do purpose and shared meaning guide entrepreneurial action and support the creation of value?
- National cultures and the expression of innovation
- How do cycles and dynamics influence entrepreneurial action and opportunity?
- How do industry-specific and (inter)national contexts influence entrepreneurship? How does this relate to the efforts of governments to create entrepreneurial ecosystems?
- Business models; models of growth for entrepreneurial ventures
- Social enterprise: a global disruption
- Who runs the future: demographics, data and drivers for innovation?
40% individual essay; 10% class contribution; 50% group assignment.
There are two dimensions to the assessment. One requires students to look at ideas and opportunity. The other focuses on understanding the conditions that allow that opportunity to flourish.
The group project takes the latter perspective and uses a team approach to explore the environment in which a particular innovation, or a sector-change, or a social change, could best be supported. This might be finding a global region to set up a recycling new venture, how the industrial gases sector could partner for innovation, or the agency change involved in improving a specific aid distribution network.
The individual essay is a chance to evaluate a single area of opportunity. For example a specific technology innovation, in context of its interaction with its environment; or look at the opportunity within a particular part of the global economy; or explore a change, a new venture or an entrepreneur that holds interest and potentially wider impact.
The class contribution will be assessed orally in class, mainly through a variety of short pitch exercises and debates.
Bhide, A. (2009). The Venturesome Economy.
Prahalad & Krishnan (2005). The New Age of Innovation
Mazzucato (2013). The Entrepreneurial State: Debunking Public vs. Private Sector Myths