The course "International Business Planning in SMEs" combines insights from research and practice to provide students with a thorough understanding of business planning in international markets. To this end, the course has three main elements: First, the course draws on research evidence to convey knowledge on international business planning. Second, we co-create the qualitative and quantitative contents of an international business plan. Third, students develop an international business plan for a real or fictitious startup or foreign market entry in groups. They present their business plans to a panel of experts on a 'pitch day'.

These elements translate into the following core contents of the course:

1. The role of opportunities in key internationalization theories.
2. Different types of international opportunities.
3. Business planning and performance -- is planning always beneficial?
4. Business planning under uncertainty (effectuation vs. causation).
5. Business planning as a resource access strategy.
6. Development of an international business plan: qualitative and quantitative elements.
7. Pitch day: presentation and discussion of the developed international business plans.

Upon completion of the course, students,

• can differentiate between different types of international opportunities and understand how the development and recognition of such opportunities enable firms' international expansion;
• know fundamental trade-offs in international business planning and relevant contextual factors that make planning more successful;
• understand how uncertainty influences international business planning, and they can apply appropriate decision-making heuristics to overcome uncertainty-related challenges;
• can apply international business planning methods and tools to assess the feasibility of international projects and to obtain the necessary resources;
• have the academic skills to comprehend research on international business planning and to use research evidence in the professional planning context;
• can create an international business plan with its qualitative and quantitative elements;
• have the social and professional skills to communicate their international business plan to a panel of experts and to lead a discussion about its contents.

The course will be offered in classroom teaching mode on campus. Students are supposed to attend all six lectures. As an exception, students are allowed to miss one lecture (but not a lecture in which they are scheduled to give a presentation or participate in any other form of assessment).

The course’s didactic concept rests on three pillars:

1. Evidence-based teaching: the course follows an evidence-based teaching approach, which means teaching is grounded on state-of-the-art research and contextual evidence. Linking research and teaching ensures that students learn concepts and methods that are relevant and effective based on the latest research knowledge.
2. Interactive: The course combines teacher-centered (e.g., lectures) and interactive ("flip-the-classroom") elements (e.g., presentations, discussions, feedback sessions, teamwork) to facilitate effective and active learning among students.
3. Relevance: The practice-oriented international business plan development assignment, along with guest lecturers, facilitates close ties between the course and industry demands. Presenting and reflecting on the developed international business plan enhance students' social and professional skills.

The overall course grade is based on three assignments:

1. International business plan content presentation: 30% (group assignment)
2. Mini exam: 25% (individual assignment)
3. International business plan pitch presentation and discussion (last course lecture): 45% (group assignment)

Literature:

• Hisrich, Robert D.: International Entrepreneurship: Starting, Developing, and Managing a Global Venture, 3rd edition, Sage.
• Hisrich, R. D., Peters, M. P., & Shepherd, D. A.: Entrepreneurship, 11th edition, McGraw-Hill Education.
• Research articles (will be provided during the course).