Syllabus

Title
4555 E&I Project 7: New Business Development
Instructors
Klaus Marhold, Ph.D.
Contact details
  • Type
    PI
  • Weekly hours
    2
  • Language of instruction
    Englisch
Registration
02/18/22 to 02/20/22
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Dates
Day Date Time Room
Wednesday 03/02/22 08:00 AM - 09:00 AM D1.1.074
Thursday 03/03/22 09:00 AM - 06:00 PM TC.3.08
Friday 03/04/22 09:00 AM - 05:00 PM TC.3.08
Wednesday 06/15/22 04:00 PM - 08:30 PM Extern

Contents

The search for and development of new business areas is one of the most important organizational competencies for both established companies and startups.The constantly changing business environment increases the pressure to innovate on firms across all industries. Simultaneously, growing market competition forces companies to decrease costs in order to ensure longterm survival and growth. This dilemma calls for new and efficient strategies to innovate and to develop and sustainably exploit new business areas. One approach to face this is the so called “Technological Competence Leveraging (TCL)”: it helps firms to exploit underutilized potential by finding new applications for their existing technological competencies.

In the E&I Project Course “New Business Development”, participants learn and train selected instruments, methods (such as TCL), and competencies necessary for identifying and developing new business opportunities in the technological context. In cooperation with our project partners (start-ups, leading Tech-Companies as well as research institutions such as Fraunhofer), participants will:

  1. Systematically research and evaluate new business opportunities for innovative technologies
  2. Create concrete commercialization strategies on the basis of detailed market and competitor analyses
  3. Develop and present the results in the framework of a real business proposal (strategically oriented business plan)

The course starts at a very early stage of the entrepreneurial process. Since neither target markets nor concrete specifications regarding the commercialization strategy/business model for the technologies are defined in advance, participants will start before the classical business planning. Furthermore, students are not only confronted with operative planning tasks, but also with the strategic aspects of innovation management in the preparation of a new business proposal. During the course, students will slip mentally into the "role" of a business consultant or business development manager and work together with their team on the project.

Each team works independently and in cooperation with the project partner on the concrete case. The teams will be supported by the course instructors as well as experts and management consultants specialized in innovation management and new business development. In 2013 the course E&I New Business Development was awarded the "Excellent Teaching Award" by WU Vienna.

Learning outcomes

Students who have completed the E&I New Business Development course,

  • Know and use methods in order to systematically and creatively search for new business opportunities
  • Can use instruments for the efficient evaluation of competing business opportunities
  • Are able to carry out detailed market and competitor analyses
  • Create viable commercialization strategies for innovative technologies
  • Successfully manage innovative projects (i.e. unclear and poorly structured)
  • Gather fundamental learnings in professional teamwork
  • Can manage external stakeholders (professional interaction with project partners) and
  • Prepare complex issues (and project results) in a structured and understandable report and can present them convincingly

Attendance requirements

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 New Business Development consists of classes for all students and individual team coaching sessions. There are four coaching sessions à approx. 1 hour. Each team individually schedules a time slot with the lecturer during the following days (minor changes to the date can be accommodated to ensure all students can participate):

  • 23.03.2022
  • 06.04.2022
  • 12.05.2022
  • 01.06.2022

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 within the time period of

  • 02. - 06.05.2022 (mid-term presentation)
  • 20. - 24.06.2022 (final presentation)

Teaching/learning method(s)

  • Self-study (literature package)
  • Teaching and discussion of theoretical concepts on two kick-off days (lecture, working on the project assignments, group discussions, teamwork)
  • Group-based work on real and relevant projects in close cooperation with established startups, research institutes or industrial or tech companies under the supervision of the course instructors and practical coaches
  • Workshops by external partners (experts working in the field of innovation management or new business development)
  • Peer feedback
  • Documentation and presentation of work progress and results

Assessment

Performance is assessed based on individual as well as group work throughout the semester.

Grading system:

  • 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 March 2nd, 2021, from 8:00 - 9:00 am. The test examines the basic and in-depth knowledge that is absolutely necessary for the participation in the projects. 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.

Prerequisites for participation and waiting lists

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 March 2nd 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 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.

Readings

1 Author: Diverse
Publisher: Learn@WU
Remarks: Available in the download section on Learn@WU
Year: 2020
Content relevant for class examination: Yes
Content relevant for diploma examination: No
Recommendation: Essential reading for all students
2 Author: Danneels Erwin
Title:

The Process of Technological Competence Leveraging. In: Strategic Management Journal 28, 511 - 533. Online: https://doi.org/10.1002/smj.598


Publisher: https://doi.org/10.1002/smj.598
Remarks: Available in the download section of course specific literature on Learn@WU
Year: 2007
Content relevant for class examination: Yes
Content relevant for diploma examination: No
Recommendation: Essential reading for all students
3 Author: Keinz, Peter; Prügl, Reinhard
Title:

A user community-based approach to leveraging technological competences: An exploratory case study of a technology start-up from MIT. Creativity and Innovation Management 19(3), 269-289. Online: https://doi.org/10.1111/j.1467-8691.2010.00570.x


Publisher: https://doi.org/10.1111/j.1467-8691.2010.00570.x
Remarks: Not mandatory, but helpful. Available in the download section of course specific literature on Learn@WU
Year: 2010
Content relevant for class examination: No
Content relevant for diploma examination: No
Recommendation: Strongly recommended (but no absolute necessity for purchase)
4 Author: Keinz, Peter; Marhold, Klaus
Title:

Technological competence leveraging projects via intermediaries: Viable means to outbound open innovation and mediated capability building? International Journal of Project Management, Online: https://doi.org/10.1016/j.ijproman.2020.10.006


Publisher: https://doi.org/10.1016/j.ijproman.2020.10.006
Remarks: Not mandatory, but helpful. Available in the download section of course specific literature on Learn@WU
Year: 2020
Content relevant for class examination: No
Content relevant for diploma examination: No
Recommendation: Strongly recommended (but no absolute necessity for purchase)
Last edited: 2022-02-15



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