Effectual Entrepreneurship

University of Reading

Course Description

  • Course Name

    Effectual Entrepreneurship

  • Host University

    University of Reading

  • Location

    Reading, England

  • Area of Study

    Entrepreneurial Management

  • Language Level

    Taught In English

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

    10
  • Recommended U.S. Semester Credits
    6
  • Recommended U.S. Quarter Units
    8
  • Overview

    Module Provider: Leadership, Organisations and Behaviour
    Number of credits: 20 [10 ECTS credits]
    Level:6
    Terms in which taught: Autumn term module
    Pre-requisites:
    Non-modular pre-requisites:
    Co-requisites:
    Modules excluded:
    Module version for: 2016/7

    Summary module description:
    This module examines the subject of Effectuation and its application to the "entrepreneurial method." Effectuation is a logic of thinking used by expert entrepreneurs to build successful ventures.

    Effectuation is an idea with a sense of purpose - a desire to improve the state of the world and the lives of individuals by enabling the creation of firms, products, markets, services, and ideas.

    Effectuation is a logic of entrepreneurial expertise. What makes great entrepreneurs isn't genetic or personality traits, risk-seeking behaviour, money, or unique vision. Effectuation research has found that there is a science to entrepreneurship and that great entrepreneurs across industries, geographies, and time use a common logic, or thinking process, to solve entrepreneurial problems. Effectuation is a logic of entrepreneurial expertise that both novice and experienced entrepreneurs can use in the highly unpredictable start-up phase of a venture to reduce failure costs for the entrepreneur.
    Aims:
    The aim of the modules is to develop students' awareness and understanding of the effectual principles and contrast this to more traditional practices. This will involve an appreciation of the context in which successful entrepreneurs operate, the behaviours they demonstrate and the strategies that they have developed in order to survive by using both theory and case studies.

    Assessable learning outcomes:
    By the end of the module, students should be able
    ? To elucidate, critique and apply the logic of effectual thinking, as discovered and defined through scientific research and used by expert entrepreneurs to build successful ventures.

    To appraise the effectiveness of the Effectual Principles when applied in an intrepreneurial context.

    To express and analyse the differences between the Effectual Principles applied by expert entrepreneurs and traditionally accepted business management practices.
    Additional outcomes:
    Students will acquire entrepreneurial skills that will be applicable in many business contexts whether or not they propose to develop an entrepreneurial career. For students wishing to take this path they will have the opportunity to develop their ideas in a tangible way.

    Outline content:
    1. Where do good ideas come from- Start with your means
    2. Don't Have Enough Money
    - Affordable loss
    3. I Don't Know How to Take the Plunge
    4. I'm Human: I'm Afraid of Failing
    5. The Bird-in-Hand Principle: Start With What You Have
    6. The Affordable Loss Principle: Risk Little, Fail Cheap
    7. The Crazy Quilt Principle: Form Partnerships
    8. The Lemonade Principle: Leverage Surprise
    9. Business Plans and Business Models: make Pitches
    10. When a Venture Grows Up
    11. Entrepreneurship as a Technology for Social Change

    Brief description of teaching and learning methods:
    This module is interactive. Sessions are comprised of a combination of formal lectures and interactive group work.
    Using ?Effectual Entrepreneurship? (ISBN 978-0415586443) by Stuart Read, Saras Sarasvathy, Nick Dew, Robert Wiltbank, Anne-Valérie Ohlsson as a base text book.

    Contact hours:
    Lecture 20
    Tutorials 4
    Guided independent study 176
    Total hours by term 200

    Summative Assessment Methods:
    Set exercise 100

    Other information on summative assessment:
    The "Set Exercise" will be composed of two essays, each of approx. 2,500 words. The first essay will be due in week 7 based upon the content of weeks 1-5 and worth 40%. Essay 2 will be due in week 10 and worth 60%.

    Formative assessment methods:
    work which provides opportunities to improve performance (e.g. through feedback provided) but which does not necessarily always contribute towards the overall module mark.

    Length of examination:
    no exam on this module

    Requirements for a pass:
    40%

    Reassessment arrangements:
    Reassessment by coursework.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.