Indian Institute of Foreign Trade, Delhi

MBA IB 2019 -21

Course: Entrepreneurship
Core
Course Co-ordinator: Dr Deepak Pandit
Email: doctordeepakpandit@gmail.com
Term: III Credits: 3

Course Introduction
The primary aim of the course is to introduce the participants to the phenomenon of entrepreneurship,
in both praxis and episteme, and nuances and tensions therein. To underscore this, challenge for both
the students and the instructor remains one of aligning the theory, in a given context, with the
practical aspects to avoid the pitfalls of abstraction. This course therefore is about studying
entrepreneurship as an activity, as a catholic mindset where context is secondary. To this effect, it
treats entrepreneurial activity, both within and without corporate ambit, as one. While appreciating the
environmental and contextual differences between the two, the aim is to cull out and study the
dominant paradigms, from formulation to implementation, of new venture creations.

Course Objectives
At the end of this course, students should be able to:
 Appreciate the similarities/dissimilarities between corporate and start-up entrepreneurship

 Distinguish between ideas and opportunities

 Identify the customers, and the value proposition for them

 Appreciate the role of Prototyping/ Minimum Viable Product

 Develop, and pitch a business plan to the right audience

Learning Outcomes
LO1: Evaluate entrepreneurial ideas with high potential for entrepreneurship within a corporation
or as a new venture
LO2: Identify business opportunity aided through customer discovery process and present the
same
LO3: Present necessary elements of a prototype from a business idea.
LO4: Develop assumptions about business leading to discovery of a Business Model

LO5: Create a business plan of the chosen idea

Programme Learning Goals covered through this Course

LG 2: Appreciation of Complex Business Situation
Students will be able to critically analyze complex business problems and suggest fresh and
novel solutions.
LG 3: Effective Business Communication
Students will get a chance to develop and demonstrate proficiency in both oral and written
communication skills
LG 5: Interpersonal Behavior & Team Building
Students will understand team dynamics, and negotiation of the same to achieve the stated
aim(s)

Pedagogy
This course is driven through a mix of activities, case studies and academic/journal articles.
We will be concerned with content and process questions as well as with formulation and
implementation issues that relate to conceptualizing, developing and managing successful new
ventures As entrepreneurship is a practice field, the orientation of the teaching module, as
mentioned in the introduction, is to balance the abstraction of theory with the dynamism of
the ground realities. For this, the activities have to take primacy but ably supported by
relevant literature. The literature also can have agency/primacy only through meaningful
class participation, which would manifest mainly through business plan ideation and
demonstration. Cultivation of presentation skills, as such, is of critical importance.
Linkages with Other Courses (optional- may relate direct/indirect linkages)
The general objective of this course is to introduce participants to the theory and practice of
Entrepreneurship in context of a region - India. The learnings in this course incorporate the
advanced treatment in Corporate Entrepreneurship and Entrepreneurship and Venture Capital
courses. The course learnings also have a recursive relationship with the core course in Strategic
Management with both the courses feeding into each other. The curriculum being interdisciplinary
in nature draws upon concepts and frameworks taught in several other areas notably marketing,
finance and economics.

Evaluation Component
The course will have the following assessment components. Final Grades would be based on the relative performance of the students.

S. No. Name of the Assessment Components Weightage (%)

Problem Identification
1 10

Value Proposition
2 10

Opportunity Identification Plan. (Group

3 20
Exercise). Mid Term

5 Case Study – At least two 20

End-term examination Written Business Plan.

(Group Project)
5
Workshop Assessment 10
Written Submissions 30

Total Marks 100

AS1: Case Study Analysis: Students will be required to analyze a case study. This will be an individual
component and assessment will require the understanding of entrepreneurial perspective and
various frameworks like segmentation, niche marketing, value proposition, growth strategy among
other business aspects.
AS2: Customer Discovery A set of activities are planned for students to undertake the process of
customer discovery and articulation of the value proposition of their ideas. These activities will be
aided by templates and instructions in class and written submissions on prescribed format received.
These will be assessed and graded

AS3 : Opportunity Identification Exercise: Opportunity Identification & Opportunity Shaping is an

important and a critical component of an entrepreneurial journey that kicks in at the beginning of
the process. During this assignment students will be required to identify new opportunities and
rationalize their choice viz-a-viz workability, market acceptance, rationality (given several
constraints) etc. This is a Mid Term component and carries 30 marks.

AS4: Business Plan Presentation: Students will be required to submit a written Business Plan. This
will be a group exercise and will carry 40 Marks for the presentation. Assessment will be based on
Original Thinking, Detailing & Workability of an idea. Financial, legal etc. details are good to have but
not essential. This is a Team Project.

Text Book / Reference Text

 Text Books

1.) Entrepreneurship – Hisrich, Manimala, Peters & Shepherd 2017

2.) Corporate Innovation and Entrepreneurship - Kuratko, Morris, and Covin

 Cases/ Readings As per session Plan

Session Plan:

Session
Session Topic / Sub-topic Description Case/Assignment Required Readings
No.

1 Reflective Knowing a business

Topic: Assignment Idea when you see one.
Describing the HBR Article. R00510 By
Introduction entrepreneurship W Chan Kim.
 Entrepreneurship Process Process

How Corporate Entrepreneurship Differs Chapter 2&3 –

Reflective
Corporate Innovation
Corporate Entrepreneurship and Managerial Assignment on the
2. and Entrepreneurship.
Vs Entrepreneurial Mindset entrepreneurial
Kuratko, Morris, and
continuum
Covin

Identifying Problems worth Solving iSEED Ideation

Defining a Problem
3. framework and ADRAI
ADRAI Framework worth solving
handouts

Student Presentation of Idea with ADRAI Discussion on

4 ADRAI Framework
usage Usage of ADRAI

Empathy Map of
5 Customer Discovery developing empathy Handout on Design
Customer
Thinking

Knowing a business
From Idea to Opportunity. Idea when you see one.
Opportunity HBR Article. R00510 By
6 I Minute Idea Pitch Opportunity Assessment Analysis W Chan Kim.
Plan.

Hisrich and Peters Ch 5

Reading 1: Value
Proposition That works.

https://hbr.org/2009/0
Activity: Define 9/value-propositions-
Customer Segment, that-work.html
create value
proposition and
assess fit.
7 Customer Value Proposition Reading2: 7 Value
Proposition Example
we have seen
Activity2. Refine
Value Proposition http://www.wordstrea
using BOS m.com/blog/ws/2016/0
4/27/value-proposition-
examples
 Reading3: Customer
Value Proposition in
Business Markets by
James C Anderson HBR
Press

Reading1: Creating a
Prototyping or MVP. An Entrepreneurial product Prototype
8
Discovery. https://www.entrepren
eur.com/article/80678

Presentation
Presentations: Idea, Opportunity and Value
9 MID TERM submission and
Proposition
assessment

HomeSake : Home Why Business Model

Business Model development and use cases. run in Home décor Matter
10 The usefulness of BM into new venture
creation. Product #: W19588- By Joan Margretta. HBR
PDF-ENG Article.

Case: Ivey:
Nurturing Green – Enterprise Growth , the
The growth challenge to
11 Growth Strategy for entrepreneurs dilemma C Management HBS
Product: W12182- Publishing
PDF-ENG

Financing for Growing Ventures Case: “NanoGene

Technologies
Considerations of financing for new Inc.” (HBS 2003 –
ventures 11 pages)

Product #:
803117-PDF-
12 ENG

13 Managing People and Building Cultures to Corporate Chapter 9&10 –

Support Entrepreneurship Entrepreneurship Corporate Innovation
Case I and Entrepreneurship.
Kuratko, Morris, and
 Covin

Chapter 11&13 –
Corporate Corporate Innovation
Obstacles to Entrepreneurship and
14 Entrepreneurship and Entrepreneurship.
Entrepreneurial Control Systems
Case I Kuratko, Morris, and
Covin

15 Business Plan Presentations

Any Other Detailed Instructions / Information (optional)

Additional Readings/ Journals (optional)

AOL Evaluation (for Core Courses Only)

Learning Goal No. 2 LG 2: Appreciation of Complex Business Situation

Students will be able to critically analyze complex business problems and suggest fresh and
novel solutions.

Evaluation Component to be used for AOL__ Create a business plan of the chosen idea

Rubrics to be used for evaluation

Objectives Excellent Good Fair Unsatisfactory

Evaluate Describing the Describing the Describing the Describing the
entrepreneurial problem being problem being problem being problem being
ideas with high solved clearly solved clearly solved clearly solved clearly
potential for Articulates how is Articulates how is Articulates how is Articulates
entrepreneurship it being solved it being solved it being solved how is it being
convincingly convincingly somewhat solved
within a Identifies for Identifies for Identifies for somewhat
corporation or as whom it is being whom it is being whom it is being Identifies for
a new venture solved with a niche solved somewhat solved vaguely whom it is
segment Iterates the idea Iterates the idea being solved
Iterates the idea using ADRAI and using ADRAI and vaguely
using ADRAI and adds/edits the adds/edits the Iterates the
adds/edits the problem problem idea using
problem ADRAI but
does not
adds/edits the
problem
Identify business Identifies customer Identifies customer Identifies customer Identifies
opportunity segment and a segment and a segment and a customer
aided through niche for their niche for their niche for their segment
customer solution solution solution Maps
discovery Maps Customer Maps Customer Maps Customer Customer
process and Gains and Pains Gains and Pains Gains and Pains Gains and
present the same with the features of with the features of with the features of Pains with the
their offering and their offering their offering features of
vis vis competitors Estimates Market Estimates Market their offering
Estimates Market size with clear size with clear Estimates
size with clear identification of identification of Market size
identification of TAM SAM and TAM SAM and with clear
TAM SAM and SOM in numbers SOM in qualitative identification
SOM in numbers terms of TAM SAM
and SOM in
qualitative
terms

Present Develops a Develops a digital Develops a paper Describes the

necessary Physical Prototype prototype of the prototype of the solution
elements of a of the Idea idea idea
prototype from a
business idea.
Develop Develops a Develops a Develops a Develops a
assumptions Business Model Business Model Business Model Business
about business Canvas and tests Canvas and tests Canvas Model Canvas
leading to assumptions assumptions Develops Cash
discovery of a Develops Cash Develops Cash Flows and P&L for
Business Model Flows and P&L for Flows and P&L for 3 years
5 years 3 years
Create a business Does Industry and Does Industry and Does Industry and Does Industry
plan of the Competitor Competitor Competitor and Competitor
chosen idea analysis analysis analysis analysis
Identifies Risks Develops financial, Identifies Risks Identifies Risks
associated with the operational, associated with the associated with
idea marketing and HR idea the idea
Develops financial, strategy Develops financial,
operational, Projects investment operational,
marketing and HR required and usage marketing and HR
strategy strategy
Projects investment Does Breakeven
required and usage Analysis