In E&I Business Planning, students work on the concrete implementation of a business idea and write a business plan for a real start-up, a founder team, or an established firm. In that process, students learn how to manage and work purposefully on an entrepreneurial project, with an end result that is initially completely open.
The course starts with a kick-off event. During the kick-off, students form teams, select a project, get to know their project partner, learn about theory and tools useful for a business plan, and directly apply theory and tools to the project. The aim is to learn why business plans are created, which elements are part of a business plan, which methods and tools can be applied, and what constitutes a good business plan.
During the semester, the teams work independently. There are regular coaching sessions per team with the lecturers and external coaches. Coaching sessions are agreed upon individually with the lecturers and external coaches. Additionally, there are four topic-specific workshops (i.a. marketing and finance). Final business plans (around 30-40 pages) will be presented in form of an end presentation to the lecturers and the project partner at the of the semester.
The aim of the course is to learn how to write a business plan based on theoretical input and practical application. This is one of the most important pillars in entrepreneurship training. To achieve the learning outcome, students will closely work together with idea providers and start-ups whose innovative business ideas are about to be implemented. Through the interaction with lecturers, external coaches, and project partners, students get insights into the field of entrepreneurship and innovation.
After successfully completing the project course "Business Planning", students will have learned and/or applied the following competences and skills:
Technical and professional skills:
- conceptualize an innovative business idea
- analyze and assess the marketability
- develop a suitable business model
- write a business plan
- develop a financial plan
- learn how to create a pitch deck
- review and further develop approaches and assumptions with iterative tests and feedback loops
- experience group processes and dynamics in heterogeneous teams and reflect on them
- independently structure and handle complex innovation projects in teams
- practice project management skills and train communication skills
- create result-oriented presentations and reports
- identify synergy effects in interdisciplinary collaboration and learn how to benefit from them
In addition, students will have...
- trained their skills in dealing with a real innovation project and gained experience with tolerance for ambiguity
- trained and expanded their skills in professional written and oral communication
- learned how to use complex and effective tools (e.g. databases) for researching and obtaining data for a task
- trained how to present information convincingly.
As the interaction with other students as well as external stakeholders is an integral part of this course, active participation in-person is important.
Students must attend at least 80% of all classes and events to successfully complete the course. However, due to their importance in reaching the course goals, 100% attendance is required for the literature test, kick-off, mid-term and final presentations as well as the E&I Touchdown event. In case of absence due to illness for the literature test, an alternative exam (written or oral) will be provided to the student. For the kickoff, absences (up to maximum of 1,5h) due to a scheduled written exam at WU can be excused if the course instructors are notified with a proof of examination before the kickoff.
In general, all absences in the course must be notified to the course instructors via email (if possible in advance) and confirmation (for example a medical certificate, or in case of an exam a note confirming the date of the written examination) must be submitted as soon as possible. Absences can result in additional compensation work to ensure the course's learning outcomes.
E&I Business Planning consists of classes for all students and individual team coaching sessions.
Other than the coaching session, there is no class taking place on these days.
Furthermore, there will be a mid-term and a final presentation of the project. Each team individually schedules a time slot with the lecturer and the project partner.
Except for the literature test and kick-off, all other dates shown are subject to change! More detailed information can be found at the introductory event and at the kick-off. Most dates are either arranged individually with course instructors and project partners or take place externally. This is not unusual for innovation projects. Exact dates for the presentations, workshops and coachings will follow at the Kick-off.
Performance is assessed based on individual as well as group work throughout the semester.
60% Group-based performance
- 10% Midterm presentation
- 10% Midterm report
- 20% Final presentation
- 20% Final report
40% Individual performance
- 10% Literature test
- 25% ongoing participation and project management
- 5% Reflection essay
Add. 1. Literature test
The literature test takes place on the WU campus on 2 March 2022 between 8 and 9 am . Please take any delay due to checking of the 3G rules into account and plan to arrive early. The test examines the basic and in-depth knowledge that is absolutely necessary for the participation in the projects. Therefore, you can find a literature list @learn with basic literature and course-specific additional literature for self-study. If you fail the literature test (less than 50%), you will be automatically transferred to the Analyst Support Program. As a student in the Analyst Support Program (ASP), you will work individually instead of working on a group-based project during the semester. The course instructors are responsible for the design of the program. In case of non-participation (e.g. due to illness) a medical certificate must be presented. For this purpose, a substitute exam will be offered
Students enrolled in the Entrepreneurship and Innovation Specialization Program.
Please note that course registration is binding. The moment your registration is received, it is regarded as a clear commitment on your part. Students cannot transfer to another course (once the add/drop period is over) with no exceptions, as it would be unfair to other students (who might not have gotten into the course of their choice because of the spot you registered for). The number of students accepted to the course will only be expanded if there is no space in any other course 4/5.
Attention: the obligatory literature test will be held on 2 March 2022 between 8 and 9 am. Course participation is only possible by passing the literature test – if you cannot attend the test, we kindly ask you to not register for this course. Detailed information regarding the contents and location of the test will be provided after the registration phase for this course. The literature test in this course overlaps with other courses within Course 4&5 of the specialization Entrepreneurship & Innovation. A parallel attendance of these courses is not possible.