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Foundations of Entrepreneurship

Semester 1 · 25557 · Master in Entrepreneurship and Innovation · 8CP · EN


This course provides a research-based and practice-oriented foundation in entrepreneurship. Students explore key theories, frameworks, and current debates in the field, with a focus on opportunity recognition, entrepreneurial decision-making, and venture creation. Hands-on activities foster critical reflection and the ability to apply concepts in diverse contexts. The course aims to deepen students’ understanding of entrepreneurial dynamics and prepare them for real-world entrepreneurial challenges.

Lecturers: Christoph Stöckmann

Teaching Hours: 48
Lab Hours: -
Mandatory Attendance: 75% mandatory presence

Course Topics
The course provides a comprehensive, research-based and practiceoriented introduction to entrepreneurship. It develops students’ understanding of the entrepreneurial process, from recognizing opportunities to creating and shaping viable business models. Students explore how ideas are tested, evaluated, and refined in iterative processes. While the course emphasizes new venture creation, it also broadens the perspective by highlighting the relevance of entrepreneurial thinking within existing organizations, whether in early growth phases or during later strategic renewal. The course fosters the development of key competencies such as entrepreneurial decision-making, resourcefulness in constrained settings, and the ability to navigate uncertainty. By engaging with academic literature, case studies, and hands-on activities, students cultivate a mindset that enables them to act entrepreneurially and respond effectively to complex challenges. Ultimately, the course prepares students to identify and seize opportunities in an everchanging environment.

Teaching format
Frontal lectures, case discussions & project-based activities

Educational objectives
Knowledge and understanding The student acquires advanced knowledge and understanding of the models and instruments of economic-business analysis for the creation of a new company with particular attention to the identification of new market opportunities, the availability and procurement of economic-financial resources and technological and organisational skills for the development of the company The student acquires advanced knowledge and understanding of the models and tools of economic-business analysis for the management of a new enterprise, from the financial and organisational point of view and with respect to the dynamics of growth and development I/we acquire advanced knowledge and understanding of the theories and tools for the economic analysis of business decisions. I/we acquire knowledge and understanding of theories and tools for the economic analysis of the market, at the level of the individual enterprise and the supply system I/we acquire knowledge and understanding of the theories and tools of statistical analysis for making market forecasts I/we acquire knowledge of the legal forms required for setting up a company and for the legal protection of intellectual property rights I/we acquire advanced knowledge and understanding of models for new product development and innovation management within enterprises I/we acquire advanced knowledge and understanding of business analysis tools and solutions for the development of innovations and organisational knowledge I/we acquire advanced knowledge and understanding of innovation economics models and systems for regional innovation development The student acquires knowledge of quantitative models for the formulation of forecasts necessary to guide management decisions and to predict the life cycle of a product and a sector Ability to apply knowledge and understanding ability to acquire and select information that may be relevant from an entrepreneurial point of view, also in economic-productive contexts different from those studied ability to analyse the combination of market opportunities and resources of the enterprise and to identify entrepreneurial formulas, also with the elaboration of original, compatible and sustainable solutions and combinations ability to select business economics models, suitable for the appropriate analysis of a specific economic-social and productive context ability to select the tools for the strategy and management of the enterprise, consistent with the enterprise economy models considered appropriate ability to assess the potential and sustainability of new business projects (business plan), from a multidisciplinary (economic, business and legal) perspective ability to assess the entrepreneurial potential associated with the development of an innovation by an enterprise (learning area 2) ability to propose and implement strategic and operational courses of action conducive to the creation of a new enterprise ability to acquire and select relevant information to frame cases of innovation (product, service, social, managerial organisational), also different from the contexts studied ability to classify, analyse specific innovations and assess their potential ability to propose and implement strategic and operational courses of action to foster the development of innovations by a company ability to assess the potential of an innovation within existing enterprises, with respect to the creation of a new enterprise (e.g. intrapreneurship, open innovation, etc.). Autonomy of judgement Acquire the ability to analyse complex entrepreneurial issues, such as the elaboration and evaluation of a business project (business plan) or the development of a new product. Acquire the ability to make predictions, such as analysing the future consequences of entrepreneurial, managerial and operational choices. Autonomy of judgement is developed in the training activities carried out for the preparation of the thesis, as well as in the exercises that accompany the lectures and that involve group discussions and the comparison of individual analyses carried out by students in preparation for the lecture. Communication skills Acquire the ability to describe and communicate in an intercultural context, in a clear and precise manner, problematic situations typical of the management of a new enterprise and the development of innovation, such as, for example, the conditions for the validation of a problem or solution, the prospects and risks associated with a business model or an innovation project. The development of communication competences assumes heterogeneous situations such as, for example, the presence of internal stakeholders (e.g. colleagues, managers, owners), or external stakeholders (e.g. potential investors, suppliers and other business partners) and the ability to sustain an adversarial process. The achievement of these objectives is assessed in the course of the training activities already mentioned, as well as in the discussion of the final thesis. Learning ability Acquire the ability to study independently, to prepare summaries. Acquire the ability to identify thematic connections and to establish relationships between different cases and contexts of analysis Acquire the ability to frame a new problem systematically and to generate appropriate taxonomies. Acquire the ability to develop general models from the phenomena studied.

Assessment
Oral: Group project work presentation (70%) - Knowledge and understanding, Ability to apply knowledge and understanding, Making judgments, Communication skills, Learning skills Written: Written assignment to be handed in by a specified deadline (30%) - Knowledge and understanding, Ability to apply knowledge and understanding, Making judgments, Communication skills, Learning skills No exam for non-attending students. Students attending less than 75% of the lectures will automatically fail the course.

Evaluation criteria
Assessment is based on the topics covered, the expected learning outcomes, and the educational objectives outlined in this syllabus. Students will be evaluated on their ability to demonstrate both theoretical understanding and practical application of key concepts in entrepreneurship. Group project presentation (70%): This component assesses students’ ability to apply entrepreneurial knowledge in a collaborative setting. Evaluation criteria include the clarity and coherence of the business concept, logical structure and argumentation, integration of course topics, and the ability to establish meaningful connections between theory and practice. Communication skills are also assessed, including the ability to present ideas convincingly, respond to questions, and engage in critical discussion. Written assignment (30%): This component evaluates individual understanding and analytical depth. Students are expected to demonstrate familiarity with key frameworks and methods while critically engaging with entrepreneurial thinking. The assignment will be assessed based on the clarity of expression, logical consistency, integration of course content, and the ability to make informed judgments based on acquired knowledge. Both components aim to measure students’ progress in developing entrepreneurial competencies, critical thinking, and reflective learning.

Required readings

• Mazzarol, T., & Reboud, S. (2020): Entrepreneurship and Innovation: Theory, Practice and Context. 4th edition. Springer Nature.

• Zacharakis, A., Corbett, A.C., & Bygrave, W.D. (2019): Entrepreneurship, 5th edition. Wiley. 



Supplementary readings

Additional academic texts and cases to be presented at the beginning of/during the course.




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Sustainable Development Goals
This teaching activity contributes to the achievement of the following Sustainable Development Goals.

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