Business Management and Entrepreneurship

5 ECTS credits
125 h study time

Offer 1 with catalog number 1023140ANR for all students in the 1st semester at a (A) Bachelor - preliminary level.

Semester

1st semester

Enrollment based on exam contract

Impossible

Grading method

Grading (scale from 0 to 20)

Can retake in second session

Yes

Taught in

Faculty

Faculty of Social Sciences & SolvayBusinessSchool

Department

Business Technology and Operations

Educational team

Marc Goldchstein
Kevin De Moortel (course titular)

Activities and contact hours

33 contact hours Lecture
12 contact hours Seminar, Exercises or Practicals
80 contact hours Independent or External Form of Study

Course Content

Lecture: Provide students from non-economic faculties with insights into the different aspects of the working of a(n entrepreneurial) firm: industry dynamics, management, finance, marketing, human resources, legal aspects

Seminar, Exercises or Practicals: Coach students in the preparation, writing and presentation of a Business Plan.

Lecture

Understanding business ecosystems

The first sessions are dedicated to understanding how ‘industries’ are ‘organised’. We will elaborate on how different sectors are defined, the role of supply chains and workflows within those sectors, the main types of actors in these supply chains and ecosystems. We get to know industry dynamics such as network effects, standards, economies of scale, regional clusters. We then focus on the actor of change in these ecosystems: innovation. We learn to differentiate between different types of innovation. We study how innovations are adopted by industry and evolve over time.

Formulating strategies

We address the challenge of formulating a strategy that leads to a viable spot in the business ecosystem. We cover topics as core assets, value propositions and performance criteria, value chain strategies, the role of industrial partners. We discuss different business- and revenue models; we learn to chart an ecosystem map. We discuss different perspectives that are used to assess the potential of a venture, as well as the challenge of formulating strategies in inherently uncertain worlds.

Legal aspects

We elaborate on some key legal aspects related to entrepreneurship, such as the different legal forms,and the basics of setting-up and managing a company (NV/BV, Board, management, shares,...).

Marketing

We elaborate on marketing aspects. First we study key differences between selling to consumers and businesses. We discuss how entrepreneurs can assemble knowledge about their markets. We touch on the role of product management and discuss pricing aspects. We discuss marketing communications, the role of distribution channels and sales organisations, and touch on the role of customer service.

Intellectual Property (IP)

In this session we wil discuss key concepts of patents and other IP rights.

Finance: accounting and startup funding

We allocate three sessions on the key topic of financial management. We study key financial reports (balance sheets and profit-and-loss statements) and accounting concepts (investment, depreciation, stock, accrual…). We learn to analyse financial accounts; we study cash flow planning. We cover specific aspects such as VAT, taxes, labour costs, insurance… Finally, we address the topic of startup funding.

Finance: start-up funding

In the second part of the third session we study the funding sources of starting entrepreneurs, their pro’s and cons. We then focus on professional risk investors: Venture Capitalists and Business Angels.

Team and management aspects

In this module we focus on the human resources aspects of business. We elaborate a/o on the key challenge of building and motivating a team of top notch professionals. Studiemateriaal

Seminar, Exercises or Practicals

In the first sessions students learn how to use a Business Model Canvas to present and how to pitch their idea. Students prepare a Business Plan in team and present it in front of a jury.

Course material

Digital course material (Required) : Slides, ondersteunende literatuur

Additional info

Not applicable.

Learning Outcomes

General competences

BaLO_2 To possess application-oriented knowledge, understanding and skills about engineering sciences and engineering techniques,
BaLO_5 To effectively look up scientific and technical information, to evaluate and process such information and to refer to it correctly,
BaLO_7 To formulate a problem within a clearly defined framework and to independently plan and develop an engineering project, with attention to the boundary conditions affecting its technical realization,
BaLO_8 To demonstrate a research attitude: accuracy, critical reflection, scientific and technical curiosity, justification of choices,
BaLO_9 To demonstrate an engineering attitude: attention to planning, to technical, economic and societal factors as well as managerial implications, assessment of the risks and feasibility of the proposed approach or solution, being result-driven and achieving effective solutions, innovative thinking,
BaLO_10 To correctly handle the scientific and discipline-specific terminology in language relevant to the programme,
BaLO_12 To be able to work in a team in different roles, to have insight in one's performance; to take shared responsibility for determining and achieving the goals of the team,
BaLO_13 To act in an ethical and socially responsible manner with attention to technical, economic, human and sustainability aspects.

Grading

The final grade is composed based on the following categories:
Written Exam determines 60% of the final mark.
Other Exam determines 40% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

Schriftelijk Examen with a relative weight of 1 which comprises 60% of the final mark.

Within the Other Exam category, the following assignments need to be completed:

Businessplan with a relative weight of 1 which comprises 40% of the final mark.

Note: opstellen en verdedigen businessplan

Additional info regarding evaluation

Exam 1st session:

Lecture _ written exam: 60% (transferred to 2nd session if 10/20 or more)
Practical exercises and individual work _ to prepare and defend a business plan: 40% (transferred to 2nd session if 10/20 or more)

Exam 2nd session:

Lecture _ written exam: 60%
Practical exercises and individual wor _ to prepare and defend a business plan: 40%

When achieving a result of less than 10 out of 20 on the business plan or less than 8 out of 20 on the written exam, then the lowest number becomes the final result for this course.

An illegitimate absence of more than 25% for the practical exercise sessions leads to an absent quotation for the related part, and therefore also for the whole course. The sanctions taken in the first exam session are transferred to the second exam session.

The student has the right to take the exam in Dutch.

Allowed unsatisfactory mark

The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context