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IB2B1-15 CORE: Entrepreneurial Mindset

Department
Warwick Business School
Level
Undergraduate Level 2
Module leader
Tamara Friedrich
Credit value
15
Module duration
10 weeks
Assessment
100% coursework
Study location
University of Warwick main campus, Coventry
Introductory description

This module focuses on introducing the skills, perspectives and theories that innovators in
any field or industry need to increase the likelihood of success in entrepreneurial activities.
Students will come to find that this is not reserved for new venture creation but applies
within existing organisations as well. With an emphasis on learning from practice, the
class provides an overview of the main entrepreneurship concepts such as opportunity
recognition, evaluation, and exploitation and facilitates their comprehension with hands-on
exercises. As a result, students may re-evaluate their views of entrepreneurship within the
framework of entrepreneurial thinking and putting this mindset into action. Specifically
designed for undergraduate students, prior experience in entrepreneurship – or even a
desire to become an entrepreneur in the future – are not required or expected. Throughout
a combination of lectures, guest speakers, case studies, readings, and hands-on activities,
students will develop a mindset as well as a toolkit of skills to create and evaluate
entrepreneurial opportunities, marshal resources, and work in teams driven by creativity,
curiosity, leadership, and smart action.

Module web page

Module aims

This module focuses on introducing the skills, perspectives and theories that innovators in
any field or industry need to increase the likelihood of success in entrepreneurial activities.
Students will come to find that this is not reserved for new venture creation but applies
within existing organisations as well. With an emphasis on learning from practice, the
class provides an overview of the main entrepreneurship concepts such as opportunity
recognition, evaluation, and exploitation and facilitates their comprehension with hands-on
exercises. As a result, students may re-evaluate their views of entrepreneurship within the
framework of entrepreneurial thinking and putting this mindset into action. Specifically
designed for undergraduate students, prior experience in entrepreneurship – or even a
desire to become an entrepreneur in the future – are not required or expected. Throughout
a combination of lectures, guest speakers, case studies, readings, and hands-on activities,
students will develop a mindset as well as a toolkit of skills to create and evaluate
entrepreneurial opportunities, marshal resources, and work in teams driven by creativity,
curiosity, leadership, and smart action.

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Sample module outline

  • Introduction to the Entrepreneurial Mindset and assessments
  • Identifying opportunities
  • Generating ideas
  • Using design thinking
  • Evaluating and testing ideas
  • Building a case for your idea using different forms of value
  • Finding resources for your idea
  • Communicating your idea to others (e.g., pitching)
  • Dealing with idea success and failure
  • Module wrap up and recording videos
Learning outcomes

By the end of the module, students should be able to:

  • Appreciate the importance of the entrepreneurial mindset and identify its features.
  • Demonstrate a broad understanding of the entrepreneurial process and the main entrepreneurship theories.
  • Develop a deep understanding of the notion of entrepreneurial opportunities and their sources.
  • Recognise the importance, role and function of entrepreneurial teams
  • Gain insight into business modelling and business plans
  • Explore the different new business funding sources and what type of firms they may be suited to.
  • Gain insights into the different growth and exit strategies for a business venture.
Indicative reading list

Baron, R. (2006) Opportunity Recognition as Pattern Recognition: How Entrepreneurs "Connect the Dots" to Identify New
Business Opportunities. Academy of Management Perspectives, 20, pp. 104-19
Baron, R. and Shane, S. (2008) 'Assembling the Team: Acquiring and Utilizing Essential Human Capital' in Entrepreneurship: A
Process Perspective International Edition Mason, Ohio: South Western
Barringer, B.R. and Ireland, R.D. (2010) Entrepreneurship: Successfully Launching New Venture , Harlow: Pearson
Barrow, C., Barrow, P. and Brown, R. (2015) The Business Plan Workbook: a practical guide to new venture creation and
development, London : KoganPage.
Bhide, A. (1992) 'Bootstrap Finance: The Art of Start-Ups' Harvard Business Review, 70, 6, pp. 109-17
Bridge, S., O’Neill, K. and Cromie, S., (1998). Understanding Enterprise, Entrepreneurship and Small Business, Macmillan.
Burns, P. (2001), Entrepreneurship and Small Business, Basingstoke: Palgrave
Gartner, W.B. (1989) 'Who is an Entrepreneur? Is The Wrong Question' Entrepreneurship Theory and Practice, 12, 2, pp. 47-68
Isaksen, S.G., Dorval, K.B., & Treffinger, D.J. (2011). Creative Approaches to Problem Solving. Sage.
Kawasaki, G. (2015) The Art of the Start 2.0, UK: Penguin, Random House
McGrath, R.G. and MacMillan, I.C. (2000) The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an
Age of Uncertainty Boston: Harvard Business School Press
Mullins, J. and Komisar, R. (2010) 'A Business Plan? Or a Journey to Plan B?' MIT Sloan Management Review, March, pp. 1-6
Mycoskie, B. (2016) 'How I Did It…The Founder of TOMS on Reimagining the Company's Mission' Harvard Business Review,
Jan-Feb, pp. 41-44
Neck, H.M., Neck, C.P., & Murray, E. L. (2018). Entrepreneurship: The practice and mindset. Sage.
Pinson, L. (2005) Anatomy of a Business Plan: a step by step guide to building a business and securing your company's future.
6th edition. Chicago, IL : Dearborn Trade Publishing
Rauch, A. and Frese, M. (2007) 'Born to be an Entrepreneur? Revisiting the Personality Approach to Entrepreneurship' in Baum,
R.J.; Frese, M. and Baron, R. (eds) The Psychology of Entrepreneurship London: Lawrence Erlbaum Associates
Ries, E. (2011), The Lean Startup: How Constant Innovation Creates Radically Successful Businesses, London ; New York :
Portfolio Penguin
Sawyer, K. (2013). Zig Zag: The surprising path to greater creativity. Jossey-Bass.
Shane, S. (2003). A general theory of entrepreneurship. Cheltenham: Edward Elgar.
Shane, S. (2008) Entrepreneurship: a process perspective, Mason, OH : Thomson/South-Western
Wall, J. and Smith, J. (1999) 'Better Exits' Chapter 11 in Bygrave, W.; Hay, M. and Peeters, J. (eds) The Venture Capital
Handbook London: Pearson Education Ltd, pp. 255-80
Wennberg, K. and DeTienne, D. (2014) 'What do we really mean when we talk about 'exit'? A critical review of research on
entrepreneurial exit' International Small Business Journal, 32, pp. 4-16

Subject specific skills

-Demonstrate the ability to apply the fundamental concepts and analytical tools that help identify, assess
opportunities and develop entrepreneurial ventures in real world business situations and opportunities.
-Gain valuable practical experience in researching, developing, defining and clearly communicating a new
business concept in an efficient, effective and compelling manner.
-Experience the practical aspects of being a member of or leading an entrepreneurial team.

Transferable skills
  • Demonstrate the ability to successfully work in teams in a multicultural and diverse setting.
  • Demonstrate the ability to self-reflect, negotiate with other group members, and deal with conflict in a constructive way.
  • Develop written and oral skills in business presentation and communication
  • Enhance research skills and the ability to effectively search, gather and utilize information and knowledge.
  • Improve time management skills as well as the ability to prioritize tasks effectively.
  • Develop IT skills mainly by preparing the group project video.

Study time

Type Required
Lectures 10 sessions of 2 hours (13%)
Seminars 9 sessions of 1 hour (6%)
Private study 48 hours (32%)
Assessment 73 hours (49%)
Total 150 hours
Private study description

No private study requirements defined for this module.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group A
Weighting Study time
Group Video 30% 22 hours

Group video submission (10 mins)

Individual Assignment 70% 51 hours
Feedback on assessment

In-class and on my.wbs

Courses

This module is Core for:

  • UIBA-N20B BSc in Management
    • Year 2 of N20B Management
    • Year 2 of N20B Management
    • Year 2 of N23K Management with Accounting
    • Year 2 of N234 Management with Digital Business
    • Year 2 of N235 Management with Entrepreneurship
    • Year 2 of N232 Management with Finance
    • Year 2 of N252 Management with Marketing
    • Year 2 of N23L Management with Strategy and Organisation
  • Year 2 of UIBA-N400 Undergraduate Accounting and Finance
  • Year 3 of UIBA-N403 Undergraduate Accounting and Finance (with Foundation Year)
  • Year 2 of UIBA-N1RA Undergraduate International Business with French
  • Year 2 of UIBA-N1RB Undergraduate International Business with German
  • Year 2 of UIBA-N1RC Undergraduate International Business with Italian
  • Year 2 of UIBA-N1RD Undergraduate International Business with Spanish
  • UIBA-N20F Undergraduate International Management
    • Year 2 of N20F International Management
    • Year 2 of N20F International Management
    • Year 2 of N20S International Management (with Accounting)
    • Year 2 of N20T International Management (with Chinese)
    • Year 2 of N20P International Management (with Entrepreneurship)
    • Year 2 of N20M International Management (with Finance)
    • Year 2 of N20U International Management (with French)
    • Year 2 of N20L International Management (with Marketing)
    • Year 2 of N20V International Management (with Spanish)
    • Year 2 of N20W International Management (with Strategy and Organisation)
    • Year 2 of N20N International Management with Digital Business
    • Year 2 of N20E Management (with Foundation Year)
    • Year 2 of N234 Management with Digital Business
  • UIBA-N20E Undergraduate Management (with Foundation Year)
    • Year 3 of N20E Management (with Foundation Year)
    • Year 3 of N23N Management with Accounting (with Foundation Year and Placement Year)
    • Year 3 of N23M Management with Accounting (with Foundation Year)
    • Year 3 of N23E Management with Digital Business (with Foundation Year)
    • Year 3 of N23F Management with Entrepreneurship (with Foundation Year)
    • Year 3 of N23D Management with Finance (with Foundation Year)
    • Year 3 of N254 Management with Marketing (with Foundation Year)
    • Year 3 of N23P Management with Strategy and Organisation (with Foundation Year)