37394 - FIRM LABORATORY

Conoscenze e abilità da conseguire

The student at the end of the laboratory will be able to analyse firm internal and external context using applied tecniques and through a hands-on approach.

Contenuti

Course Overview

The purpose of this course is to explore the dynamics of Corporate Venturing, the process by which firms invest in, develop, launch and sustain new businesses. Building on the concepts covered in

Business Venturing, we will examine Entrepreneurship from a corporate perspective sometimes referred to as Intrapreneurship. Various channels for innovation and renewal within corporate settings will be explored. Through examples of best practice and benchmarking companies and industries, studies will focus on the requirements for creating and managing new ventures and significant new business opportunities within organizations. In addition, we will examine how to integrate new businesses into existing corporate structures or change them should it be required. The course will facilitate eventual integration into corporate venture environments should it be desired or reversely provide a deeper understanding of their function should for those who want to partner with them from within an organisation or as an entrepreneurial entity.

Topics will include:

• nature and importance of corporate venturing for business renewal and growth
• identifying and evaluating growth opportunities
• corporate venture capital (CVC): alternative approaches
• planning and managing the corporate venturing process and its impact on the organisation
• concepts of open innovation
• collaborative technology acquisition through alliances and joint ventures

Course Objectives

The emphasis in this course is on understanding various aspects of past, present and future approaches to Corporate Venturing. Both academic research and company testimonials will serve as catalysts to instil an appreciation of the key concepts as they relate to technology management, entrepreneurship, finance, and marketing as well as organizational behaviour. Pedagogical objectives of the course include:

• Experience the process: together with a team of peers, design and present a new corporate venturing model for a chosen company
• Acquire the knowledge and spirit needed to successfully integrate innovative ideas into large organisations
• Develop creative solutions to motivate change and attract innovation from internal and/or external sources
• Explore a wide range of opportunities to determine those that are best suited and establish under what circumstances they would be appropriate in your chosen field
• Benefit from knowledge transfer, enhancing presentation skills, project and time management capabilities

Students are expected to synthesize and integrate knowledge acquired in other courses and put it into practice in all assignments and discussions for this class.

Testi/Bibliografia

• Reading package provided by the instructor
• Case study package

Metodi didattici

Target audience

The course should appeal to individuals interested in working in, for or with corporate entities. Understanding the concepts of corporate venturing will provide a strong grounding in innovation and knowledge management. This understanding is beneficial to and for managers and employees regardless of company size or the individual business life cycle stage. In addition students who are interested in occupations in any of the service or peripheral areas of business that support corporations will also gain from the materials covered as well as from real world examples that will be discussed. Those interested in IP, consulting, financial services or venture capital will gain insights into the various ways corporations structure themselves to innovate and ensure sustainability though the various forms of corporate venturing.

The course is strongly based on active participation by all students. Discussions should be lively yet respectful. Learning will come from not only from the course materials but also from listening to, and sharing of knowledge by all. The course will include a fair amount of information in a very short period of time. Therefore it is essential that everyone come to class having read all required materials and be prepared to discuss the topics at hand. Both attending and participating in class will count for 10% of your grade – attendence alone is not sufficiant.

 

Teaching approach

The class will be interactive and class preparation and participation is essential. Participation will be required in discussions, guest lectures, and project work. The following elements will be included:

• Lectures by instructor
• Guest lectures by industry and academic experts to introduce various aspects of corporate venturing across industry sectors
• Case discussions and student case presentations
• Analysis of academic research and its relevance to real world examples
• Multi-media presentations including, movie, video and interview footage
• Industry Interview
• A progressive group project that will culminate in teams of 4-5 students presenting corporate venture strategy plans

Extensive individual and group work outside of class is an integral part of this course. Management and coordination of team efforts and communication will be crucial. This is considered a measurable success factor in the evaluation of course work.

Modalità di verifica e valutazione dell'apprendimento

In addition to the the transfer of knowledge with regard to the specific subjects of corporate venturing, participation in the the course provides the opportunity for strengthening crucial skills that are essential for successful managers. These skills include, but are not limited to, team work, communication and presentation skills. Therefore, each day a group or individual assignment must be handed in. These will take the shape of case write-ups, case presentations and critical analysis of articles as well as the write up of an interview with an industry expert.

Assignments will only be accepted on the day they are due. All assignments should include references.  

Assignments

There will be 2 group assignments. For each assignment teams will be formed and oral presentations will be required for the different subjects. If slides are being used, they will be due at the beginning of the class on the day of the discussions and presentations.

In addition each student will have two projects to complete on their own. One is to review an academic article (to be provided) on an aspect of corporate venturing and the second is to interview and write about a discussion with someone involved in any aspect of Corporate Venturing. This person can be a participant, a recipient or a service provider. Each of these should be 1-2 pages in length. The article will be presented on the 2^nd day of class and the interview will be due by the day that class concludes.

In addition, there will be a final group project whereby each group will identify a large multinational company (must be approved), research its past and current venturing strategies and from current practices.

Written case analysis, case presentations and interview write ups should include;

• Clear concise background and identification of key problems/strategic issues
• Use of appropriate analytical tools techniques, including charts and tables where appropriate
• For cases: realistic, workable, well-supported recommendations for action
• For industry interviews and article reviews: clear descriptions of the background being presented and lessons learned
• Aesthetic, clear and professional presentation

 

Grading based on successful completion of all required elements

Breakdown of requirements as follows;

Innovation Stories 20%

Case Presentations 20%

Analysis and Presentation of Academic Research 10%

Industry Interview 10%

Corporate Venture Plan 30%

Attendance and Participation 10%

 

Requirement for Non Attendants

The requirement for students not participating in the projects and presentations during the period of the course will be a paper that should prove knowledge and understanding of the Corporate Venturing process as well as analysis and opinion. It should not merely state definitions – but use the companies' stories to define Corporate Venturing as per their story. Work should be ORIGINAL and all sources should be cited where necessary.

To aid in this process I would like to point out a very useful web resource – http://owl.english.purdue.edu/ The Online Writing Lab (OWL) at Purdue University is an excellent guide for many types of writing – including research papers. In your case, special attention could be paid to the following sections:

• General Writing http://owl.english.purdue.edu/owl/section/1/ and English as a second language - http://owl.english.purdue.edu/owl/resource/678/01/
• Research and Citation resources http://owl.english.purdue.edu/owl/section/2/including several style guides which would be very helpful in how to refer to and reference documents, graphs, figures and statistics.As well as how to do annotated bibliographies http://owl.english.purdue.edu/owl/resource/614/01/
• In addition to when it is important to give credit and how http://owl.english.purdue.edu/owl/resource/589/02/
• Developing a strong thesis statement and organizing your argument - https://owl.english.purdue.edu/owl/resource/588/01/

 

Corporate Venture Plan Analysis

This will require the selection and research of a multinational corporation. The paper will include an outline of the companies past and present corporate venturing practices. These should be tied back to examples and models which were presented in the articles provided for further reading which are available on the web.

In addition to secondary source materials, the analysis must include firsthand knowledge of how the chosen company approaches corporate venturing. These insights are to be gained through actually contacting at least one individual who works for or with the corporation and interviewing them. Who the contact person is and how they were contacted should be included in the write-up.

The analysis should be concluded with a summary of whether the author feels this particular corporation is making the most of corporate venturing opportunities – and if so, why. And if not – recommendations of how they could improve their opportunities.

Sources of information should be well and properly documented and included in the report.

The paper can be submitted on or before the end of each term. It can take up to 4 weeks for review – thus please ensure that they are submitted well before any deadlines if a grade is required for graduation.

Orario di ricevimento

Consulta il sito web di Caren Helene Weinberg