1123 Understanding Business/Business Planning
Dr. Michael König, MBA
  • LV-Typ
  • Semesterstunden
  • Unterrichtssprache
26.11.2020 bis 30.11.2020
Anmeldung über LPIS
Hinweise zur LV
Planpunkt(e) Bachelor
Wochentag Datum Uhrzeit Raum
Dienstag 01.12.2020 15:30 - 18:00 D5.1.001
Donnerstag 03.12.2020 15:30 - 18:00 D5.1.001
Donnerstag 10.12.2020 15:30 - 18:00 D5.1.001
Dienstag 15.12.2020 15:30 - 18:00 D5.1.001
Donnerstag 17.12.2020 15:30 - 18:00 D5.1.001
Donnerstag 07.01.2021 15:30 - 18:00 D5.1.001
Dienstag 12.01.2021 15:30 - 18:00 D5.1.001
Donnerstag 14.01.2021 15:30 - 18:00 D5.1.001
Dienstag 19.01.2021 15:30 - 18:00 D5.1.001
Donnerstag 21.01.2021 13:00 - 15:00 Online-Einheit
Donnerstag 21.01.2021 13:00 - 15:00 Online-Einheit

Ablauf der LV bei eingeschränktem Campusbetrieb

This course will take place in a hybrid mode:

  • 50% of course participants will be present in the lecture theatre, the other 50% will join the lectures online. This will be switched for every one of the lectures.
  • The last session will be a paper-pencil exam taking place in a large lecture theatre. All participants will be present.
  • For international students who are unable to attend the lectures we will provide online participation options for all classes, contribution possibilites and ensure equivalent fulfilment possibilities for grading.

Inhalte der LV

We will delve into the very core of the entrepreneurial DNA. Learning from best and worst cases, we will explore the foundations needed by any successful entrepreneur, using varied learning technologies, ranging from formal lectures to entangled exercises. We will experience the enigma of entrepreneurial success from manifold perspectives.

We will employ sound theory and practice insights for turbulent, uncertain, novel and ambiguous settings in an increasingly AI and digitalized world. We will talk about the entrepreneur malgré lui, passionate and with a deep understanding of what a "business" really is, in the 21st century.

This course is meant to give you a business vademecum for forthcoming challenges and for your future in management practice. Afterwards, some of you will be longing to fulfill their entrepreneurial drive. But even if you will never create a venture on your own, which is absolutely fine, you will certainly be marvellously equipped with a thorough understanding of a business and know what it means to do reasonable business planning in turbulent times. You will hence be exposed to the essential elements of business administration from an entrepreneurial perspective, divided into five main sections:

I.    De Initiis: Founding real Companies, not just fancy Start-up's

  • Introduction to the course
  • Business Models and Business Plans
  • Turning rich or becoming king? Fundamental decisions and founder's tradeoff
  • The expanded life cycle of a company
  • How to start and why legal structures are important

detailed content tbc

II.   History and Histrionics: Analysing the Past of an Enterprise

  • Financial statements (income statement, balance sheet, cash flow statement)
  • Financial statement analysis (break-even analysis, ratio analysis, cost accounting)
  • Issues in cash flow management along the life cycle of a company
  • The experience trap and other fallacies
  • How it all hangs together (an entrepreneurs' cockpit for financial and cost accounting)

detailed content tbc

III. There is more than meets the Eye: Experiencing the Present of an Entreprise

  • Crunching the numbers for investment opportunities (static and dynamic decision making, quantitative cases, opportunity costs and portfolio decisions).
  • Raising capital (debt and equity financing, crowdfunding and alternative approaches)
  • The entrepreneurial finance matrix
  • How to deal with harsh decisions!

detailed content tbc

IV.  The Pattern that Connects: Creating the Future of an Enterprise

  • A primer on market analysis and segmentation
  • How to conduct a strategic swot analysis and re-visit it throughout the life cycle of a company (static versus dynamic, the toolbox, filters and decision making, qualitative and quantitative inputs)
  • Simple scenario analysis (probabilistic scenarios)

detailed content tbc

V.    Entangled Futures: Synthesizing the Past, the Present, and the Future of an Entreprise

  • Strategic Foresight along the life cycle of a company (tame, wild, feral futures for the start-up, vuca, tuna and further)
  • There is no such thing as a life cycle
  • Welcome, Artificial Intelligence!
  • Bringing it all together: A take on the entrepreneurial DNA

detailed content tbc

Lernergebnisse (Learning Outcomes)

Students gained insight on how to translate a new business idea into a business model and a business plan and how to carry out business planning as an ongoing activity in a dynamically evolving business. Students understand Business Planning as a continuous process of reviewing progress on business goals and targets as well as setting new goals and targets (related to strategy, marketing, production, financing, organization design) for a viable development of the business while considering the interests of involved stakeholders.

More specifically, the learning outcomes are:

  1. Students gained first insights on how entrepreneurs spot market opportunities for new businesses, and how such opportunities are exploited.
  2. Students have understood business planning as the process of determining a commercial enterprise’s objectives, strategies and activities to ensure its viability from the perspective of all involved stakeholders
  3. Students are able to apply basic business planning techniques and they understand how these techniques relate to each other in enabling professional business planning:
  • Students know how to conduct simple market analysis (market size, segmentation, trends, market growth, product life-cycle)
  • Students can apply simple strategic/competitive analysis tools
  • Students know the most common types of legal structures of businesses and why their choice is important
  • Students know the basics of how to obtain debt and equity financing for a new or an established business
  • Students can translate planned business activities into planned/projected cash flow and income statements
  • Students are able to do simple breakeven analysis
  • Students understand how different planning/forecasting tools (sales forecasts, cash flow forecasts, planned operations) relate to each other.

Regelung zur Anwesenheit

This is a core course in the first semester. It is recommended to attend all classes. There is, however, a minimum attendance of at least 8 out of 10 (80%) classes in order to pass the course successfully. Please inform the course lecturer well in advance of your absence.


This course is held as a formal lecture, combined with guest lectures, inverted classroom elements and group assignments as well as pre-readings and online tasks.

Leistung(en) für eine Beurteilung

Case/Contribution: 25%

Mid-Term Exam as take-home exam: 30%

Final Exam (paper & pencil): 45%

Total: 100%

Everything that is presented and discussed in hybrid mode including all online materials and tasks is exam relevant. There will be two exams: one mid-term (30%) and another at the end of the course (45%). Grading follows the WU guidelines (see slides).

Students will be provided with slide sets, reading and other materials in advance of the respective lecture modules I to V. Everything will be available via learn@wu.

Please note: It is NOT necessary to purchase any of the recommended books. They are intended to serve as additional reading for those who want to deepen their knowledge on the topics covered. We will deal with some of their contents, but you will find them ALL on the lecture slides and on the additional material, however.


1 Autor/in: Rogers

Entrepreneurial Finance: Finance and Business Strategies for the Serious Entrepreneur

Verlag: McCraw-Hill
Anmerkungen: Excellent introduction to the finance side of the equation
Jahr: 2014
Empfehlung: Referenzliteratur
Art: Buch
2 Autor/in: Miller-Nobles/Mattison/Matsamura

Horngren's Financial & Managerial Accounting

Verlag: Pearson
Anmerkungen: Everything you need to know as an entrepreneur about financial and managerial accounting
Jahr: 2018
Empfehlung: Referenzliteratur
Art: Buch
3 Autor/in: Bhimani/Horngren/Datar/Rajan

Management and Cost Accounting

Verlag: Prentice Hall
Anmerkungen: For those who want to go one step further
Jahr: 2015
Empfehlung: Referenzliteratur
Art: Buch
4 Autor/in: Johnson/Whittington/Scholes/Angwin/Regnér

Exploring Strategy: Text and Cases

Verlag: Pearson
Anmerkungen: All you need for strategy, in one book
Jahr: 2017
Empfehlung: Referenzliteratur
Art: Buch
5 Autor/in: Tetlock/Gardner

Superforecasting: The Art and Science of Prediction

Verlag: Crown Publishers
Anmerkungen: A good primer on forecasting
Jahr: 2015
Empfehlung: Referenzliteratur
Art: Buch
6 Autor/in: Ramírez/Wilkinson

Strategic Reframing: The Oxford Scenario Planning Approach

Verlag: Oxford University Press
Anmerkungen: The art of scenario analysis, from probabilistic to plausible scenarios
Jahr: 2016
Empfehlung: Referenzliteratur
Art: Buch
7 Autor/in: Osterwalder/Pigneur

Business Model Generation: A Handbook for Visionaries, Game-Changers, and Challengers

Verlag: Wiley
Anmerkungen: This is a classic on business models
Jahr: 2010
Empfehlung: Referenzliteratur
Art: Buch
8 Autor/in: Ries

The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

Verlag: Currency
Anmerkungen: An alternative view on how to start
Jahr: 2017
Empfehlung: Referenzliteratur
Art: Buch
9 Autor/in: Gassmann/Frankenberger/Csik

The Business Model Navigator: 55 Models That Will Revolutionize Your Business

Verlag: FT Prentice Hall
Anmerkungen: A lot of models assembled in a nutshell
Jahr: 2014
Empfehlung: Referenzliteratur
Art: Buch
10 Autor/in: Hisrich/Ramadani

Effective Entrepreneurial Management: Strategy, Planning, Risk Management, and Organization.

Verlag: Springer
Anmerkungen: There will be a new editon early 2019
Jahr: 2017
Empfehlung: Referenzliteratur
Art: Buch

Teilnahmevoraussetzung(en) und Vergabe von Wartelistenplätzen

Ideally, you have already passed the introductory phase of the programme. So, bring an open mind and enthusiasm :)

Erreichbarkeit des/der Vortragenden

Course instructor: Michael König

Course tutor: tbc

Zuletzt bearbeitet: 03.09.2020