Strategic Business Development, 30 Credits

Contents

The course is directed to students aiming to become entrepreneurs as well as managers or project leaders focused on (international) business development. The course provides deepened theoretical and practical knowledge about strategy, innovation, entrepreneurship, networking and business growth and at the same time, systematically incorporates sustainability and internationalization aspects. The aim is to develop capabilities and skills to act upon business and societal opportunities, needs and challenges, to develop successful businesses and innovations in a global and changing business environment. The course is given and examined in English.

Common expected learning outcome

• communicate central concepts for the course in English, both orally and in writing

The core course consists of four modules, which will be further described below:

• Module 1. Perspectives on Strategy, 7.5 credits
• Module 2. Managing Networks and Internationalisation 7.5 credits
• Module 3. Entrepreneurship and Business Growth 7.5 credits
• Module 4. Strategizing in Business Development 7.5 credits

Module 1. Perspectives on Strategy, 7.5 credits
This module highlights key challenges facing contemporary organizations in a globalized world. The students will gain an interdisciplinary understanding of the business context and the intertwined nature of its events and processes. Alternative theoretical perspectives on strategy will be presented to provide a comprehensive platform for strategic decision-making in the forthcoming modules. Students will practice strategic thinking from both an internal and external perspective. The module integrates theoretical insights with practical applications in a learning environment characterized by active participation, both individually and in groups. Students will also practice making strategic analyses, identifying options, and recommending appropriate solutions that are both rooted in theory and actionable. During the module, students will also be introduced to methods of working in international teams and to academic conduct, for example how cheating and plagiarism can be avoided and referencing techniques.
 
Expected learning outcomes
After completing this module, the student should be able to:

• describe and analyse the foundations of strategy and strategic perspectives.
• propose solutions to cope with internal and external strategic challenges and complexities.
• propose appropriate strategies to meet key dilemmas concerning for example, innovation, product, process, organization, marketing and business models.
• critically reflect upon the consequences of strategic choices and assess the need for developing the organizational capabilities and knowledge base.
• understand and be able to apply an academic approach to avoid plagiarism in academic work. 

Focus of instruction
In addition to lectures and guest lectures, learning is supported by cases and seminars. The module requires significant amount of independent study of assigned compulsory book chapters, articles, hand-outs and case material. The module also requires a significant amount of group work. Case studies are carried out in groups with oral and written presentation. Students are introduced to academic conduct, for example how cheating and plagiarism can be avoided and referencing techniques.

Examination modes
The examination consists of case reports, an individual written hall exam and an individual computer based examination on plagiarism and referencing. Case reports are performed in groups and the exam is individual. Attendance at case-seminars is mandatory and is thus a requirement to pass the module. A passing grade for each graded part of the module is required to pass. The module is given and examined in English. Note as well examination modes below for the course as a whole.

Module 2. Managing Networks and Internationalisation, 7.5 credits
In the international business setting, organizations meet competition from existing incumbents as well as new entrants and managers consequently need to design strategies both for cooperation and competition. This module focuses on how companies can develop business capabilities related to internationalization, various business relationships and different types of networking. This includes building, maintaining and supporting businesses with various modes of foreign operations, joint ventures, alliances and networks, in a complex environment. The students will analyse and design strategies for internationalization and network relationships through cases.

Expected learning outcomes
After completing this module, the student should be able to:

• explain the relationships between entrepreneurship, networking, internationalization, and business development.
• analyse and interpret the dynamic structures and processes for international business development.
• audit firms' international and network strategies.
• develop action plans and recommendations in order to support business development activities.
• identify strategic and ethical aspects of networking and internationalisation processes.

Focus of instruction
From lectures, seminars and the literature base the ambition is to encourage the development of a conceptual understanding of the field. The ability to analyse real business problems and integrate different models and perspectives to solve these problems will be developed through different learning methods such as cases and audits. The audit of network and internationalization strategies will help the students to integrate conceptual understanding with the structures and processes of real-life businesses.

Examination modes
The examination consists of seminar(s), a written group assignment, and an individual written hall exam. A passing grade is required for each part. The module is given and examined in English. Note as well examination modes below for the course as a whole.

Module 3. Entrepreneurship and Business Growth, 7.5 credits
A key challenge for start-ups and existing organizations is to maintain the entrepreneurial spirit and create growth. The module discusses different perspectives on growth in small- and medium-sized enterprises and the differences between entrepreneurial orientation and a more traditional small business orientation. In the module students will analyse entrepreneurship, and how professional investors perceive entrepreneurial growth in emerging enterprises. Main themes concern (i) theoretical perspectives on entrepreneurship and its connections to business growth, (ii) the characteristics and components of entrepreneurial motivation, risk taking and the willingness to grow businesses, (iii) entrepreneurial strategy-making, (iv) entrepreneurial growth in context, (v) venture capital and financing challenges. The literature will cover these themes and connect them to businesses. During the module, students work with cases related to the above themes and develop solutions to solve the issues and problems outlined in the cases.

Expected learning outcomes
After completing this module, the student should be able to:

• apply theoretical knowledge to identify and evaluate challenges for, and ethical consequences of, entrepreneurial growth.
• analyse driving forces for entrepreneurial growth and create strategies for new venture development.
• assess how investors evaluate entrepreneurial growth and how institutional intervention influence entrepreneurial growth.
• create solutions about how to turn around entrepreneurial ventures in distress.
• apply investors decision making tools in order to evaluate and improve entrepreneurial ventures.

Focus of instruction
Learning is supported by lectures and seminars and the teaching is characterized by a strong emphasis on student activity, both verbally and in written tasks. Work in groups is an essential part of the module. Assignments will include both practical analyses of growth possibilities and growth restrictions on the separate themes during the course. The student is expected to actively participate both individually and work in small groups during seminars and tasks, and in the written and oral presentations.

Examination modes
The examination consists written group assignments and an individual oral exam. A pass grade is required for each part of the module. The module is given and examined in English. Note also examination modes below for the course as a whole.

Module 4. Strategizing in Business Development 7.5 credits
Business developers and entrepreneurs must be able to design the future strategy for their business or business area. The environment, the opportunities and the plans are likely to change over time, which is why this module focuses on developing the ability to strategize. Strategic analyses and reports are important tools in aiding the business developer or entrepreneur to make sense of environmental and organizational dynamics. In this module students participate in a real-life strategic process which requires them to act based on assembled knowledge and take part in addressing a business development challenge, connected to a company, an organization or a group of organizations. The task can, for example, entail designing a business development plan for a start-up, for a new product or service, or for new venture within an established organization.

Expected learning outcomes
After completing this module, the student should be able to:

• demonstrate analytical and integrative skills in solving advanced tasks within business development.
• apply acquired knowledge and understanding from this module as well as from previous courses to, within given timeframes, design a business development plan.
• make ethical and economic, environmental, and social sustainability considerations in analysing and solving business development problems.
• critically reflect upon the individual's and the group's ability to work effectively with external organizations.
• orally and in writing for stakeholders, present analyses, ideas and conclusions developed and/or drawn by the team or individually.
• evaluate his/her competence and need for competence development in order to work with strategic business development.

Focus of instruction
Learning is supported by work with a real-life case as the main pedagogical method. This entails students working in teams with existing companies, organizations, or start-ups to develop a business development plan. The groups will work relatively independently but in dialogue with representatives of the real-life case. Students will receive regular supervision from faculty and potentially by external experts in workshops, seminars and lectures.
Note: depending on the type of real-life case selected, some smaller introductory/preparatory activities may be required during one or several of the earlier modules during the course. In that case, time will be set aside within these modules for such activities.

Examination
The examination consists of four parts. First, a business development plan conducted in a group and, second an oral presentation of this plan. Third, a written individual assignment. Fourth, active participation in and contribution to the module's seminars as well as consultations and meetings related to the work with their business development plan. A passing grade is required for each part of the module. The module is given and examined in English. Note as well examination modes below for the course as a whole.

Expected learning outcomes

See each separate module.

Required Knowledge

90 credits whereof 60 credits in Business Administration. Proficiency in English equivalent to Swedish upper secondary course English B/6.

Form of instruction

See each separate module.

Examination modes

See each separate module and below.

The following grading system is used:
Pass with distinction (Väl godkänd, VG, 75% or more),
Pass (Godkänd, G, 50% or more), and
Fail (Underkänd U, less than 50%).

Grades on the course are awarded when the student has passed all examinations and compulsory course elements. The course is given and examined in English.

To receive the grade Pass with distinction (VG) in the 30 credits course consisting of four modules of the same size, the student must have achieved Pass with distinction (VG) in at least three out of four modules. In shorter courses for example 7,5 credit courses, 15 credit courses or 22,5 credits courses Pass with distinction (VG) is given when the student has achieved at least 75% of the total weighted points.

A student who does not pass the first examination will be offered an opportunity for re-examination within 2 months. An additional examination opportunity is normally offered every academic year, one week prior to the start of the autumn term. If required by specific circumstances, another form of examination can be used.

A student that has failed an examination on two occasions has a right to have another examiner or grading teacher appointed, unless there are special reasons against it. A written request addressed to the Director of Studies should be made no later than 14 days before the next examination opportunity.

Adaptations 
Examiners may decide on deviations from the modes of assessment in the course syllabus. Individual adaptation of modes of assessment must give due consideration to the student's needs. The adaptation of modes of assessment must remain within the framework of the intended learning outcomes in the course syllabus. Students who require an adapted examination - and have received a decision on the right to support from the coordinator at the Student Services Office for students with disabilities - must submit a request to the department holding the course no later than 10 days before the examination. The examiner decides on the adaptation of the examination, after which the student will be notified.

Academic integrity and cheating
As a student, you are expected to act with academic integrity. This means writing and presenting within the limits of the academic rules and expectations communicated in the university's regulations and what is otherwise specified by the responsible department. Disciplinary action may be taken against students who use unauthorized help aids or in some other way try to mislead in examination. Rules and regulations concerning the production of academic texts and correct referencing is applicable to written assignments. Submitted material is subject to plagiarism control. In addition, Umeå University rules and regulations for education and research apply.

Transfer of credits
Student who considers themselves to possess knowledge from previous relevant studies or professional or vocational experience that can be comparable to a course or part of a course, can apply for transfer of credits. Approved transfer of credits means that the student does not need to take the or those parts of the course that the decision covers. Information about transfer of credits can be found on Umeå University's web site.

Other regulations

This course can not be included in the degree together with 2FE147, 2FE178, 2FE197, 2FE200, 2FE414, 2FE425, 2FE427, 2BA411 and 2BA416.