Innovation and International Entrepreneurship II

2.    JUSTIFICATION OF THE COURSE

Conventional firm internationalization is increasingly challenged by the internationalization behavior of young entrepreneurial firms that rapidly conquer markets abroad soon after their inception. Such development is spurred by technological advances and the globalization phenomenon in general. Besides, a connection exists between the entrepreneurial behavior of the firm and its performance. The study of international entrepreneurship addresses the intersection between the fields of international business and entrepreneurship and is defined as the  discovery,  enactment, evaluation, and exploitation of opportunities across national borders  to  create future goods and services (Oviatt & McDougall, 2005).
The course familiarizes the student with the international entrepreneurship phenomenon and integrates theories and concepts from the international business, entrepreneurship and management literature. Key characteristics of the international entrepreneur are analyzed and the internationalization process of young entrepreneurial firms is studied using a network perspective.
The course touches upon a core element of higher education at Universidad EAFIT (Impronta Eafitense), entrepreneurship education, and relates it  to  international business. Furthermore, the course specializes the topic of firm internationalization in the most recent field of its development building on the studentâs prior knowledge about    firm internationalization in general.
 

3.    PURPOSE OR OVERALL OBJECTIVE

3.1.    The overall objective of this course is to familiarize the student with the emerging   field of studies of international entrepreneurship and entrepreneurial internationalization in particular.
3.2.    SPECIFIC OBJECTIVE

3.2.1.    Developing a critical understanding about the antecedents, processes, and outcomes of entrepreneurial internationalization.
3.2.2.    Being able to analyze and design internationalization strategies for entrepreneurial new ventures.
3.2.3.    Being able to develop and pitch a business concept proposal in the context of an international new venture.

4.    BASIC SKILLS THE STUDENT WILL BE ABLE TO ACHIEVE

Being able to critically distinguish between general firm internationalization and entrepreneurial internationalization.
Being able to design and pitch a business concept proposal in the context of an international new venture.

5.    ANALYTICAL DESCRIPTION OF CONTENTS: THEMES AND SUBTHEMES

5.1.    Part 0 - Introduction into international entrepreneurship

This module introduces the student to the phenomenon of entrepreneurial internationalization as a thematic area of the broader field of international entrepreneurship and international business in general.

5.1.1.    To familiarize with different definitions about international entrepreneurship.

5.1.2.    To familiarize with the concept of the international new venture/born global firm and its characteristics.
5.1.3.    To identify and provide an understanding about the key drivers and factors influencing international entrepreneurship.
5.2.    Part I - Theories and frameworks that explain entrepreneurial internationalization

5.2.1.    To recognize the limitations of traditional internationalization theories in order to explain entrepreneurial internationalization.
 

5.2.2.    To familiarize with different models, concepts and frameworks that try to explain entrepreneurial internationalization.
5.3.    Part II - The international entrepreneur

5.3.1.    To distinguish between different types of entrepreneurs.

5.3.2.    To familiarize with the concepts of entrepreneurial orientation, global mindset and international entrepreneurial culture.
5.3.3.    To identify personality traits and capabilities for the recognition or creation of international opportunities.
5.3.4.    To differentiate between the entrepreneur and the manager.

5.3.5.    To differentiate between causal and effectual decision-making during the process of entrepreneurial internationalization.
5.4.    Part III - The role of networks for entrepreneurial internationalization

5.4.1.    To recognize the importance of networks and relationships for entrepreneurial internationalization.
5.4.2.    To familiarize with different conceptual views on the network perspective in international entrepreneurship.
5.4.3.    To gain an understanding about the role of networks in an internet-enabled context.
5.4.4.    To gain insights into the link between the international new venture and the larger multinational company.
5.5.    Part IV - Institutions and ecosystems for (international) entrepreneurship

5.5.1.    To develop an understanding for differences in entrepreneurial activities  among countries.
5.5.2.    To develop a general understanding about the role of ecosystems and the impact of institutional factors on international entrepreneurship.
5.6.    Part V â Development of a business concept proposal and investor pitch

5.6.1.    To familiarize with the importance of the product, the market, and market validation for the design of a business concept proposal.

5.6.2.    To familiarize with the importance of product-market fit and the minimum viable product (MVP) for the design of a business concept proposal.
5.6.3.    To develop an understanding about the importance of pitching the proposal to potential investors.

6.    DIDACTIC  STRATEGIES  AND METHODOLOGIES

The course employs the following learning methods:

Discussion of pre-assigned-readings; Presentation and discussion of case companies;
Design, presentation, and discussion of a business concept proposal;

7.    RESOURCES

7.1.    LOCATIVE

Class room
7.2.    TECHNOLOGICAL

On-line learning platforms

8.    CRITERIA AND POLICIES OF MONITORING AND ACADEMIC EVALUATION

The course assessment is based on four components:

Continuous contribution to the students personalized 'learning journal' throughout the duration of the course (individually): 30%
Case study analysis and presentation (group work): 30%

Course project: Development and pitch of a business concept proposal (group work):  40%