Module Management Information

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1 Module Information for BSM980, 2017/8 - APPROVED Module Title/Name: Entrepreneurship & Innovation in Emerging Economies Module Code: BSM980 School: Aston Business School Module Type: Standard Module New Module? No Module Credits: 15 Module Management Information Module Leader Name Susan Schwarz Address s.schwarz@aston.ac.uk Telephone Number Not Specified Office 914 SW Additional Module Tutor(s): Bettina Becker. (Beckerb@Aston.Ac.Uk, SW1019)Susan Schwarz. (S.Schwarz@Aston.Ac.Uk, 914 Sw) Level Description: Masters Programmes in which available: MSc in International Business. MSc in Entrepreneurship and International Business. MSc Business Economics & Finance. Contributing School & Subject Groups (and %): none Credit Value & ECTS Credits: 7.5 Available to Exchange Students? { Module Dependencies Pre-requisites: Co-requisites: Prohibited Combinations:

2 Module Learning Information Module Aims: The aim of this module is to provide students with an understanding of the processes of new business creation and innovation in emerging economy settings, from managerial as well as economic and policy perspectives. The importance of emerging market economies is steadily growing and illustrated by the fact that they accounted for half of the world GDP in 2013 (The Economist). The focus of this module is on entrepreneurial and innovative activities by new enterprises and also established businesses, which contribute to the success of emerging economies. The topics to be covered will include: (a) the theoretical concepts for understanding entrepreneurship and innovation in emerging and developing economies (networks and social capital, resource -based view, and institutional theories); (b) entrepreneurship at the bottom-of-the pyramid; (c) entrepreneurial strategies to overcome resource constraints and dysfunctional institutions; (d) distinctive emerging economy innovation strategies, including frugal or constraint-based innovation; and (e) access to finance including microfinance. The module will use examples and smaller case studies of emerging economy entrepreneurship. Module Learning Outcomes: Students should develop: (a) the ability to apply relevant economic and management principles, concepts and tools to the analysis of issues faced by new businesses related to emerging market environments, and (b) an understanding of the implications of the emerging market environment for business creation, start-up and innovation. By the end of this module, students should be able to: 1) assess the implications of the diverse economic institutional environment for new business creation and innovation in emerging markets; 2) assess, in broad terms, implications of economic policies and institutional change, as well as change in technology and in the global economic environment for the creation of new enterprises in the emerging market economies; 3) discuss, in broad terms, strategic options available to owner-managers of new businesses in an emerging economy environment. Indicative Module Content: Emerging economies are characterized by increasing market orientation and improvement in their institutional frameworks, technology and infrastructure. The module investigates entrepreneurial dynamism and implications in these economies including East Asia, Eastern Europe, and Latin America. Weekly content includes: Entrepreneurship in developed economies versus emerging markets, and overview of module and assignments. Formal institutions and emerging market entrepreneurship, rule of law, regulation and institutional voids. Informal institutions and emerging market entrepreneurship, cultural values, norms and social capital. Emerging market entrepreneurship from a resource perspective and strategies to overcome resource constraints. Emerging market entrepreneurship and access to finance, informal sources of finance, emerging stock markets, global financial markets and microfinance. Innovation in emerging markets vs. developed economies, intellectual property rights, drivers of innovation including resource constraints. Base of the pyramid (BOP) markets as customers as well as BOPs as a source of entrepreneurship. Notes on internationaliation and returnee entrepreneurship Module review and drop-in clinic for feedback on venture ideas International Dimensions: The lectures will use examples of entrepreneurs and businesses from a range of emerging market economies including those in South East Asia, Central and Eastern Europe, Latin America and Africa. Corporate Connections: The lectures will draw on examples and cases reported in academic literature, and experiences of emerging markets. It uses case

3 studies to bring corporate and entrepreneurial experiences to life. In addition, as part of their assessment, students are expected to utilize firm, sector and/or country-wide data to characterize aspects of the economic business-environment in emerging markets, as well as craft their own business plan. Ethical Approval: This module does not require any primary research and no ethical approval will be necessary. Students will only use publicly accessible databases. Links to Research: The module content draws on the past and present research in the Economics, Finance and Entrepreneurship Group including research on the impact of formal and informal institutions on entrepreneurs strategic decisions. For assignment 1, students will undertake independent research, utilizing available country-level data from a range of sources to profile and diagnose how supportive of entrepreneurship the institutions in a particular emerging market economy are. For assignment 2, students undertake independent research to craft their business plan. Ethics, Social Responsibility and Sustainability: The module focuses on the issues of governance, seen in the context of uncertainty and risk, where uncertainty is introduced not only by environmental factors but also by opportunistic behavior of economic agents, e.g., relating to institutions and corruption. It also refers to organisations and frameworks that affect business, and encourages reflection on the ethical choices of entrepreneurs. The module also covers Base of the Pyramid markets and highlights aspects of doing business in these markets in a sustainable and responsible manner. Further, several examples and case studies used in the module include cases on social innovation and social entrepreneurship. Module Delivery Methods of Delivery & Learning Hours (by each method): Method of Delivery Learning Hours Lecture: 15 hours Tutorial: 12 hours Project: 48 hours Independent Study: 75 hours Total Learning Hours: 150 hours Learning & Teaching Rationale: The module will use a number of research papers. The lectures provide the analytical framework, and integrate the required reading into this framework. The lectures also draw on industry and country experiences, as appropriate. Each 3 hour session contains a mix of active in-class exercises, tutorial and actual lecturing, facilitating student contribution to the discussion in class throughout as well as making use of various kinds of group work. Assimilation of different viewpoints and critical analysis is encouraged throughout. Students are expected to engage actively in class discussions and in-class exercises throughout the semester. Module Assessment

4 Methods of Assessment & associated weighting (including approaches to formative assessment as well as summative): Assessment Type Category Duration/ Submission Date Common Modules/ Exempt from Anonymous Marking Week Number Assessment Weight Essay Individual Assignment 09/Feb/2018 No - 50% Details Assignment 1: Entrepreneurship Profile Of Emerging Economy: Individual essay in which students profile one emerging market economy of their choice in terms of entrepreneurship environment, including institutions, resources, culture, and economy, using data sources and theories discussed during weeks 1-4. Essay max words, 12 pt font, 1.5 line spacing. Essay Individual Assignment 16/Mar/2018 No - 50% Details Assignment 2: Venture Idea: Individual essay in which students describe their idea as a short business plan directed at a potential investor, including business model, value creation and capture, customers, markets, financing and other resources, for a business venture, social venture or innovation in the public, private or third (NGO) sector, applying concepts discussed in class, especially weeks 5-8. Essay max words plus 200 word self-reflection, 12 pt font, 1.5 line spacing. Total: 100% Method of Submission: Electronic Copy Only Assessment Rationale: The module contains two pieces of assessment as outlined above. They each test different learning goals (as outlined above). Both assessments require students to apply knowledge obtained in class and through independent further reading. The first assessment is a type of country report diagnosing the entrepreneurship-supportiveness of that country's institutions as well as the level and type of entrepreneurship found in that country. In individual essays, students will need to draw on theoretical frameworks in class to discuss the findings of their research. Thus this assignment is similar to a country-profile as compiled by international associations such as the World Bank. The second assignment is an individual business plan for an emerging market business and targeted at a potential investor. This assignment requires application of knowledge obtained through the first assignment as well as through the further teaching sessions to argue the case for the viability and novelty of the planned business. To account for student preferences both assignments allow students to choose a specific market economy. The second assignment also allows choice with regard to the type of business pursued (commercial or social, non-profit). Students can also present a case for an innovation in the context of an established business (corporate entrepreneurship idea). Feedback Rationale: A range of feedback opportunities will be available to students including in-class feedback and coursework clinics, through blackboard discussion group, and at individual s request (during office hours). Module Teaching Frequency, Room & AV Requests

5 Teaching Frequency: Room & AV Requirements: No Room Requirements Specified No AV Requirements Specified Specialist Software in IT Labs: