Bachelor 2020/2021

International Entrepreneurship

Type: Elective course (World Economy)

Area of studies: Economics

Delivered by: School of World Economy

Where: Faculty of World Economy and International Affairs

When: 4 year, 2, 3 module

Mode of studies: offline

Instructors: Irina Kratko

Language: English

ECTS credits: 4

Contact hours: 44

Course Syllabus

Abstract

The goal of this course is to facilitate the development of skills and a knowledge base that will enhance student’s ability to more effectively understand, interpret and engage in entrepreneurial acts and new venture creation in the international environment. The students will investigate, understand, and internalize th4 process of founding a startup firm abroad. Following a pattern they will concentrate on the following areas: searching the environment for new venture opportunities; matching individual skills with a new venture; evaluating the viability of the new venture; financing; start up; and operating a new international venture. Through lectures, cases (written and video), guest speakers, exercises, and student projects, the course simulates the entrepreneurial process. The course will enable the student to evaluate their own desire and prospects for a career as an entrepreneur. By doing so the course (1) inspires the students to become entrepreneurs and (2) provides the aspiring entrepreneur with a framework for selecting, funding, and starting their own business abroad. In a highly competitive environment this course provides tools and insights which improve the chances for success as an entrepreneur.

Learning Objectives

• to facilitate the development of skills and a knowledge base that will enhance student’s ability to more effectively understand, interpret and engage in entrepreneurial acts and new venture creation in the international environment.

Expected Learning Outcomes

• Evaluate the content and outcomes of contemporary international entrepreneurship theories and concepts. Able to apply the outcomes of the research in the changing global environment.
• Use theoretical knowledge and practical skills in doing a feasibility study and developing a business plan.
• Evaluate international business environment, find opportunities, make decisions on the most appropriate entry strategy, location choice, business formats, sources of financing while developing an effective business plan.

Course Contents

• Theoretical backgrounds of entrepreneurship and international entrepreneurship
  The history of entrepreneurial theory. Summary of important definitional attributes. The fundamental issues of entrepreneurship. Characteristics of entrepreneurs. The entrepreneurial vision. The entrepreneurial process. Entrepreneurship as new venture creation and development. New venture ideas. Sources of venture opportunities. Recognizing and screening opportunities. Critical factors for starting a new venture. International versus domestic entrepreneurship. Global opportunities and their identification.
• Dimensions of international entrepreneurship
  Why, Where, What and How to internationalize. Motivations and strategic effects of going global. The entrepreneurial environment. Controllable and uncontrollable forces. Main characteristics of economic, political, cultural, technological, physical, financial and legal business environment for entrepreneurs.
• Entry strategies of going international
  Developing a new product or service. Buying a franchise. Exploiting partial momentum from an existing product or service. Finding sponsorship. Acquiring a going concern. Advantages and disadvantages of different strategies of going international. Making strategic decisions in a global context.
• Stages of new venture creation in international context
  Creating a team. Taking on a business partner. Marketing strategies. Location. Financing. Legal structures for enterprises. Resource requirements. Obtaining risk capital. The deal: valuation, structure and negotiation. Obtaining debt capital. Intellectual property issues.
• Developing a global business plan: structure and key elements
  Opportunity identification and analysis. The opportunity evaluation process. Matching capabilities and opportunities. Sections of a feasibility plan. Reasons for writing a business plan. The What, Whether, and Why of the business plan. The executive summary. The company’s identity. Analyzing the environmental situation and the market opportunity. Formulating a marketing strategy. The financial plan format. Pricing, budgeting and start-up costs. Money sources for the entrepreneur. Pitfalls of effective planning.

Assessment Elements

• Classroom participation
• Global start-up case
• Interview with an entrepreneur
• Feasibility plan presentation
• Classroom participation
• Global start-up case
• Interview with an entrepreneur
• Feasibility plan presentation

Interim Assessment

• Interim assessment (3 module)
  0.3 * Classroom participation + 0.3 * Feasibility plan presentation + 0.2 * Global start-up case + 0.2 * Interview with an entrepreneur

Bibliography

Recommended Core Bibliography

• Financial markets and institutions, Mishkin, F. S., 2018
• Principles of corporate finance, Brealey, R. A., 2008
• Statistics for business and economics, Newbold, P., 2013

Recommended Additional Bibliography

• Financial institutions management : a risk management approach, Saunders, A., 2018
• Financial markets and corporate strategy, Grinblatt, M., 2002
• Venture capital, private equity, and the financing of entrepreneurship : the power of active investing, Lerner, J., 2012