Type of course

Course content

Objectives of the course

The aim of the course is to provide students with an understanding of how to develop a business plan as a means to communicate the unique attributes of a venture to potential investors and other stakeholders. This encompasses how to present the business opportunity, management team, competition, sales and marketing, technology/product, manufacturing/service/logistics, and financing. The internal designing and external negotiations the firm and negotiating with potential investors are also covered.

Knowledge

The candidate

• has basic knowledge on idea development and idea creation
• has knowledge on the need for development of business models and business plans
• has knowledge on the elements in a business model and a business plan, and on what is required by a professional model/plan
• has knowledge on how investors evaluate a new venture and on value evaluation of a ventures
• has knowledge on the financial consequences of the model/plan, and possible financial sources
• has knowledge on how to present a business idea in a convincing way

Skills

The candidate

• is able to identify and implement a business idea, and in the course of a brief period of time attain results
• is able to use the attained knowledge on a specific business idea, and develop a business plan for this idea
• is able to present the idea in a convincing manner towards investors, and justify his/her assessment

General knowledge

The candidate

• is able to use his/her knowledge and skills for identifying, developing and presenting a business idea
• is able to communicate a business idea in a simple and understandable way to external people
• is able to perform an assessment of a specific business idea and conclude whether the idea has a business potential

Language of instruction and examination

Teaching methods

Lectures and seminars

Case studies

The course is built around a simulated reality and it is to a large extent based on role play pedagogy, under which students in interaction with real innovation projects start a venture. The role play is primarily built around internally negotiating the structure of the firm, externally negotiating with investors, and by designing the communicative interface of the firm e.g. the business plan.

Case studies provide students with an additional active learning experience by making complex real-world problems the focus. It challenges students to learn skills that will be appropriate to deal with the practical problems that they may face as entrepreneurs.

The students need to be present at campus, and participate in lectures and group-work.

Assessment

Assignment -business plan and oral examination in Tromsø.

There will not be arranged a re-sit exam for this course.

A graded scale of five marks from A to E for pass and F for fail.

Place of exam: Tromsø.

Recommended reading/syllabus