Birthing New Ventures
Full course description
Not many will contest the societal impact of enterprising individuals and entrepreneurial ventures on our economies. Entrepreneurs may start-up new companies with the intent to challenge (and sometimes even overthrow) incumbents. In the process, they create new jobs and apply competitive pressure on established firms. Entrepreneurs supposedly have an important direct and indirect effect on driving innovation.
Not surprisingly, academics have sought to unravel the entrepreneurial process. From their findings we learn that all that happens prior to a formal launch of a new venture is critical to understand the essence of entrepreneurship. For example, we know that many more people see opportunities than those that actually seek to exploit the opportunities they have discovered.
In this course you will explore why and how opportunities are created and/or discovered by more or less enterprising individuals. In addition you will explore why only a few of those that see an opportunity will actually engage in efforts to further explore and exploit the opportunities that they have spotted. You will identify factors that drive entrepreneurship at the level of the individual. You will explore how personality characteristics, experience, education, and social embeddedness shape entrepreneurial journeys.
This course aims to highlight the importance of the process stages that precede the launch of an entrepreneurial venture. We learned that the developmental process that results in the birthing of new ventures has a long-lasting impact on venture survival and/or entrepreneurial growth, therefore it is important to study it. This course provides a bird’s eye view on factors and processes that lead to the launch of entrepreneurial ventures. It builds a foundational understanding of the initial stages of the entrepreneurial process that will allow you to deepen your understanding of entrepreneurship in the subsequent courses of the Entrepreneurship minor.
Primary course objective:
You understand the critical role of the individual-opportunity nexus in initiating new ventures;
Secondary course objectives:
- You understand how disciplinary perspectives have enriched (and continue to enrich) the scholarly understanding of the entrepreneurial process.
- You understand why the stages that precede the formal start-up of a new venture are so critical to understanding the outcomes of enterprising behaviour.
- You know how personalities and cognitive characteristics shape the emergence of new ventures.
- You understand how and why new entrepreneurial opportunities arise.
- You are able to explain how entrepreneurs screen and select opportunities.
- You can decide on approaches to assess and enhance the value promise of embryonic business concepts.
The courses of the Entrepreneurship minor (see also http://maastrichtentrepreneurship.nl/minor.html) draw on the academic entrepreneurship literature. They do NOT expect students to have already developed an understanding of the functional domains of business administration or small business management (e.g. strategy, marketing, accounting, HRM, finance, operations). We encourage students to take the two introductory courses of the minor (Birthing New Ventures and Mobilising Resources [EBC2145; EBC2146]) BEFORE taking the other courses in the Minor. As this minor is delivered in English, your command of the English language (speaking and writing) should be good enough to actively prepare, participate, and contribute to class.