MAN 630 Introduction to Entrepreneurship (Fall 2024)
Lecturer | Prof. Michael Woywode, Dr. Nora Zybura, Kyung eun Park |
---|---|
Course Format | Elective |
Course Credit | 6 ECTS |
Language | English |
Assessment |
Written exam (50%), Presentations/ |
Examination date | tbd. |

Course Outline
Founders and co-founders of startups such as Amorelie, contagt, Coffee Circle, Leaf Systems, Stocard and many others are students or alumni of the University of Mannheim. They all are examples of successful entrepreneurs, who have pursued new business opportunities in an innovative and path-breaking way. This course is about gaining a general understanding of entrepreneurship and its underlying theoretical foundations (lectures) combined with more applied elements (case studies + business model projects). Dealing with current and classical theories on entrepreneurship, the theory part aims at giving students a solid insight into the early stages of the startup lifecycle. The applied elements give students the possibility to train their skills and enhance their entrepreneurial toolkit. In the applied part, students will e.g. gain familiarity with the POCD (People Opportunity Context Deal) framework, business model analysis, identifying key value drivers of a new venture, customer acquisition cost (CAC), customer lifetime value, marketing in the early stage of a startup, basic financial modeling of a startup, and a basic introduction to seed financing and venture capital. Founders and experts will come to our Startup Lounges and Founder Talks – these inspirational events go hand in hand with this class and your attendance of these open to public inspirational events is strongly recommended.
Overall, the course is intensive and requires students to carefully prepare, read and understand the course material (remember that 6 ECTS are a total workload of up to 180hrs). Active attendance and participation is strongly recommended. Even though we will have some hands-on elements in MAN 630, our applied class to found your own business is MAN 631. If you like theory and reading next to some practical insights or if you just want to obtain a solid foundation of what is entrepreneurship and see where the inspiration will take you, MAN 630 is the right class for you. MAN 630 sets focus on the nascent stage of startups up to seed and pre-Series A stage. We will discuss in lecture settings and have 4 additional case study sessions in which student teams will present their solutions and advice to startup challenges. Thus, theories presented will be combined with real-life cases. Additionally, guest speakers (i.e., entrepreneurs and/
What you can expect from us is a fun and rewarding atmosphere in class paired with optional Founder Talks and Startup Lounges (evening events) throughout the semester to get in touch with a lot of role models, business models and a fair chance to develop your networks. Overall, you can expect a perfect introduction to central theories in entrepreneurship and the Startup Ecosystem at and around the University of Mannheim and beyond.
The lectures will introduce students into classical and modern economic, psychological and sociological theories of entrepreneurship. Different types of entrepreneurship will be discussed and its importance for society will be highlighted. Further topics covered are business model creation, financial evaluation and financing the start-up. Our Startup Lounges and Founder Talks will bring in a lot of practical insights and networking opportunities.
The case study sessions follow an applied approach and complement the theory you learn during the lectures. We believe that you can only fully understand and master theory (e.g. how to plan, finance and operate entrepreneurial startups), if you apply theory to its relevant practical context. Accordingly, we strongly recommend 100% attendance and kindly ask you to prepare case solutions thoroughly (team effort). The purpose of this course is to provide students with both theoretical knowledge of entrepreneurship and practical skills for setting up businesses. Dealing with current and classical theories and recent empirical evidence on entrepreneurship, the lectures aim at giving students a solid insight into entrepreneurship research. The case study sessions put students into situations in which they have to apply their knowledge and train their entrepreneurial skills. Note that we will not write any business plans in this class but learn, e.g., how to get LTV, CAC and cash flow management right while also looking at entrepreneurship from various scientific lenses.
Side note on MAN 630 alternatives:
You should choose MAN 630 if you...
- are interested in startups and entrepreneurship in general and want to gain a top-level view on both entrepreneurship in theory and practice;
- are interested in combining insights from lectures with readings at home and with insights gained from speakers in Startup Lounges, Founder Talks and in class to maximize your learning;
- like the practical world but do not want to lose sight of the underlying academic foundations;
- love aiming for the big picture and discussing topics of interest from a variety of angles;
- do not like courses based on keywords and phrases to learn by heart but on concepts that put things into perspective and help you finding your own way of sophisticated argumentation.
You should, however, not choose MAN 630 if you...
- expect this to be a multiple-choice-style course of memorizing material and jotting buzzwords down on the exam. Our interactive style of teaching and a wealth of readings will get you frustrated – focus is set on understanding concepts rather than memorizing them.
- expect teaching staff to tell you what to learn and what to forget – this is up to you (see point above).
- want to develop or advance your own startup project in class. Apply for MCEI course MAN 631 instead.
Learning Outcomes
By the end of this course, students will ...
- have gained fundamental insights into theoretical perspectives on entrepreneurship;
- have learned tools that facilitate starting a business;
- have some idea on how investors look at new ventures;
- be familar with case study training and elements of problem-based learning (PBL);
- have improved their case solving and presentation skills;
- have a solid basis for, e.g., a seminar or master thesis at our chair – especially “Inside the Venture” master theses;
- have improved their problem solving capabilities.
Registration
Please register via the student portal prior to the first session. We highly appreciate diversity of all kind – including disciplines!
Please make sure that you register both for the MAN 630 “Lecture” and “Exercise”.
Registration for case study sessions
It is not necessary to register for case study sessions upfront. We will form teams for this course and each team has to pick a Case Study Group (time slot). You can swap groups by Case Study Session given your availability if there are open time slots to present or teams who move to your session. Students who miss the Case Study team formation in Session 2 and the subsequent team effort will fail this part of the course (50% of their grade). Students may (by exception) miss out on individual sessions if they have engaged in the team effort of preparing the presentation and the team is okay with their absence. Dropping the class after team formation is not possible (see introduction lectures), as this would lead to fricticons and unnecessary strain on the teams.
Recommendations to the students
Our students are encouraged to join our Startup Lounges and Founder Talks on a regular basis – it is part of your entrepreneurial experience. Transferring insights from class to the real world by learning from real startups and their challenges is a substantial part of your learning. Remember that networking is an enabler of amazing opportunities. In general, the course is intensive. It requires students to carefully prepare all cases, read and understand the material, and participate actively in the class and in case discussions. Readings are important to understand the use cases as well as to follow the lectures and class discussions. All students are expected to participate in the case discussions and presentations. The active participation will help you significantly in preparing the exam, which is a continuous learning endeavor in this class, rather than a 1-week-learning of materials at the end of class. Students have to purchase the case studies themselves and prepare them upfront (Harvard Business School Publishing). MCEI cases will be provided via ILIAS.
Place & Time
Check the schedule for detailed information.
Assessment
The assessment in this class has multiple grading components. Please note that dropping the class after team building in Session 2 is not possible and will lead to failing the class.
Grading Components:
- Written exam (50%) (individual)
- Presentations/
Reports (40%) (team) - Peer Evaluation (10%) (individual)
Persons in Charge
Professor: Prof. Dr Michael Woywode
Course Coordinator: Dr. Nora Zybura
Teaching Assistant: Kyung eun Park
Course Load and Language
ECTS: 6
Language: English
Readings & Resources
Readings & Resources:
- See detailed course outline below.
Additional Resources:
- Stanford University's Entrepreneurship Corner (lectures, guest speakers)
- Steve Blank' Resources (slides/ videos, startup tools)
Course Materials:
All course material will be provided via ILIAS (“MAN 630 Introduction to Entrepreneurship [V] [1. PG] (HWS 2024)”)
Preliminary Schedule (Fall 2024). Please check back for updates! (Latest update: October 21, 2024)
Session 1 | September 5 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Entrepreneurship in the Mannheim Master in Management (MMM) – General introduction for all students
- Course introduction to MAN 630
- What is entrepreneurship?
Core Readings:
- Bhide, A. (1996).The Questions Every Entrepreneur Must Answer. Harvard Business Review, November-December 1996, pp. 120–130.
- Welter, F. (2011). Contextualizing entrepreneurship – Conceptual challenges and ways forward. Entrepreneurship Theory and Practice, 35(1), 165–184. https://doi.org/10.1111/j.1540-6520.2010.00427.x
Recommended Readings (over the entire course):
- Ries, E. (2011). The Lean Startup. New York: Crown Business.
Session 2 | September 12 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Who is the entrepreneur?
- 'Who is the entrepreneur?' is the wrong question
- Understanding entrepreneurship
- Forming case study teams (attendance is crucial – coordinate upfront if you cannot attend!)
Core Readings:
- Gartner, W.B. (1989). ’Who Is an Entrepreneur?’ Is the Wrong Question. Entrepreneurship Theory & Practice, 13(4), 47–68. DOI: 10.1177/104225878801200401
- Shane, S. & Venkataraman, S. (2000). The Promise of Entrepreneurship as a Field of Research. The Academy of Management Review, 25(1), 7–19. DOI: 10.5465/amr.2000.2791611
Recommended Readings:
- Storey, D.J. & Greene, F.J. (2010). Small Business and Entrepreneurship. Harlow: Financial Times Prentice Hall. (Chap. 1, 2)
Session 3 | September 19 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Defining and measuring startups
- Analyzing and measuring business growth
- Guest Talk Robert Dehghan | istari.ai
Core Readings:
- Morrison, A., Breen, J., & Ali, S. (2003). Small business growth: intention, ability, and opportunity. Journal of small business management, 41(4), 417–425. https://doi.org/10.1111/1540-627X.0009
- Welter, F., Baker, T., Audretsch, D. B., & Gartner, W. B. (2017). Everyday entrepreneurship—a call for entrepreneurship research to embrace entrepreneurial diversity. Entrepreneurship Theory and Practice, 41(3), 311–321. https://doi.org/10.1111/etap.12258
Recommended Readings:
- Storey, D.J. & Greene, F.J. (2010). Small Business and Entrepreneurship. Harlow: Financial Times Prentice Hall. (Chap. 11 & 12)
- Storey, D.J. & Greene, F.J. (2010). Small Business and Entrepreneurship. Harlow: Financial Times Prentice Hall. (Chap. 13, 14 & 15)
- Wyld, D.C., & Maurin, R. (2011). What Matters More in Growth Companies: The Leader or the Idea? Academy of Management Perspectives, 23(2), 95–96.
Homework: Prepare Case Study
Case Study Session 1 | September 26 | EO 256 Seminarraum (Schloss Ehrenhof Ost)
Submission Deadline Case Study 1: September 25, 2 p.m.
1st Case Study Session
- Group 1: 10.00–10.30 (2 teams, 10min. presentation + 3min. Q&A)
- Group 2: 10.45–11.45 (4 teams, 10min. presentation + 3min. Q&A)
- Group 3: 12:00–13:00 (4 teams, 10min. presentation + 3min. Q&A)
Session 4 | September 26 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Impact Entrepreneurship
- Guest Talk Maximilian Mühlhause | Lumix Solar Marius Mühlhause | Lumix Solar “The growth story of Lumix Solar”
Homework: Prepare Case Study
October 3 | Holiday (Tag der Deutschen Einheit)
Case Study Session 2 | October 10 | L9, 1–2, Lecture Hall 001
Submission Deadline Case Study 1: October 9, 2 p.m.
2nd Case Study Session
- Group 1: 10.00–10.30 (2 teams, 10min. presentation + 3min. Q&A)
- Group 2: 10.45–11.45 (4 teams, 10min. presentation + 3min. Q&A)
- Group 3: 12:00–13:00 (4 teams, 10min. presentation + 3min. Q&A)
Session 5 | October 10 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Guest Talk Georg Harenberg | Founder Caras “A Strategy for your Life”
- Networking Event with Roland Berger
Session 6 | October 17 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Evaluating entrepreneurial opportunities
- How are business opportunities evaluated?
- Business model analysis
- POCD, LTV, CAC
- CCBN Case (self-study)
- Guest Talk Dr. Michael Hoeck | Earlybird Venture Partner
Core Readings:
- Wood, M. S., & Williams, D. W. (2014). Opportunity Evaluation as Rule-Based Decision Making. Journal of Management Studies, 51(4), 573–602. https://doi.org/10.1111/joms.12018
- Foss, N. J., Klein, P.G., & Bjornskov, C. (2019). The Context of Entrepreneurial Judgment: Organizations, Markets, and Institutions. Journal of Management Studies, 56(6), 1197-1213. https://doi.org/10.1111/joms.12428
Recommended Readings:
Homework: Prepare Case Study
Case Study Session 3 | October 24 | EO 256 Seminarraum (Schloss Ehrenhof Ost)
Submission Deadline Case Study 3: October 23, 2 p.m.
3rd Case Study Session
- Group 1: 10.00–10.30 (2 teams, 10min. presentation + 3min. Q&A)
- Group 2: 10.45–11.45 (4 teams, 10min. presentation + 3min. Q&A)
- Group 3: 12:00–13:00 (4 teams, 10min. presentation + 3min. Q&A)
Session 7 | October 24 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Guest Talk Henrik Burger | Co-Founder & Managing Director THE OATER
Session 8 | October 31 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- An economists' perspectice and individual expected utility
- Ecology perspective
Core Readings:
- Baumot, W.J., & Strom, R. J. (2007) Entrepreneurship and economic growth. Strategic Entrepreneurship Journal, 1(3–4), 233–237. https://doi.org/10.1002/sej.26
- Aldrich, H.E. (1990). Using an Ecological Perspective to Study Organizational Founding Rates. Entrepreneurship Theory & Practice, 14(3), 7–24. DOI:10.1177/104225879001400303
Recommended Readings:
- Kirchhoff, B.A. (1991). Entrepreneurship‘s Contribution to Economics. Entrepreneurship Theory and Practice, 16 (2), 93–112.
- Ruef, M. (2006). Boom and Bust: The Effect of Entrepreneurial Inertia on Organizational Populations. Advances in Strategic Management, 23, 29–72. (skim-read article)
Session 9 | November 7 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Nascent entrepreneurship and social networks
- Social networks, opportunity recognition and resource mobilization
Core Readings:
- Davidsson, P., & Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Vemturing, 18(3), 301–331. https://doi.org/10.1016/S0883-9026(02)00097-6
- Garcia-Lorenzo, L., Donnelly, P., Sell-Trujillo, L., & Imas, J.M. (2018). Liminal Entrepreneuring: The Creative Practices of Nascent Necessity Entrepreneurs. Organization Studies, 39(2–3), 373–395. https://doi.org/10.1177/0170840617727778
Recommended Readings:
- Storey, D.J. & Greene, F.J. (2010). Small Business and Entrepreneurship. Harlow: Financial Times Prentice Hall. (Chap. 6 & 7 (skim literature))
Session 10 | November 14 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- The institutional context of entrepreneurship & International Entrepreneurship
Core Readings:
- Williamson, O.E. (2000). The New Institutional Economics: Taking Stock, Looking Ahead. Journal of Economic Literature, 38 (3), 595–613. https://www.jstor.org/stable/2565421
- Pacheco, D.F., York, J.G., Dean, T.J., & Sarasvathy, S.D. (2010). The coevolution of Institutional Entrepreneurship: A tale of two theories. Journal of Management, 36(4), 974-1010. https://doi.org/10.1177/0149206309360280
- Jones, M.V., Coviello, N., Tang, Y.K. (2011). International Entrepreneurship research (1989–2009): A domain ontology and thematic analysis. Journal of Business Venturing 26(6), 632–659. https://doi.org/10.1016/j.jbusvent.2011.04.001
- Global Entrepreneurship Report (GEM) 2023/
24 (skim read)
Recommended Readings:
- Storey, D.J. & Greene, F.J. (2010). Small Business and Entrepreneurship. Harlow: Financial Times Prentice Hall. (Chapter 19 & 20 (skim literature))
Homework: Prepare Case Study
Case Study Session 4 | November 21 | EO 256 Seminarraum (Schloss Ehrenhof Ost)
Submission Deadline Case Study 4: November 20, 2 p.m.
4th Case Study Session
- Group 1: 10.00–10.30 (2 teams, 10min. presentation + 3min. Q&A)
- Group 2: 10.45–11.45 (4 teams, 10min. presentation + 3min. Q&A)
- Group 3: 12:00–13:00 (4 teams, 10min. presentation + 3min. Q&A)
Session 11 | November 21 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
Session 12 | November 28 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Innovation
- Innovation ecosystems
Core Readings:
- Ahlstrom, D. (2010). Innovation and Growth: How Business Contributes to Society. Academy of Management Perspectives, 24(3), 11–24. https://doi.org/10.5465/AMP.2010.52842948
Session 13 | December 5 | M 003 PwC-Hörsaal (Schloss Mittelbau) | 3:30pm – 5:00pm
- Re-cap & Exam Q&A
No additional readings


