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MAN 632 Advanced Entrepreneurship (Spring 2019)

MAN 632 Advanced Entrepreneurship (Spring 2019)

Course Outline

Successful entrepreneurs pursue new business opportunities often in a pioneering way and contribute to innovation, growth, as well as employment generation. But how exactly do they manage the entry into a market and the grow their ventures? What strategies can they implement to achieve sustainable competitive advantage? What are the overall challenges they face? These are examples of fundamental questions that will be addressed in MAN 632 Advanced Entrepreneurship. You do not need any other prerequisites to join except for a passion for Entrepreneurship and Startups.

The theoretical foundations of the course lie in theories on managerial aspects of entrepreneurship. Whereas MAN 630 Introduction to Entrepreneurship focuses on the early stages and the foundations of entrepreneurship from nascent entrepreneurship to seed stage, MAN 632 Advanced Entrepreneurship continues in the Life-Cycle Approach from Seed Stage to Series A and beyond.

Entrepreneurial managers require an in-depth understanding of the ongoing challenges in key functional areas such as innovation and technology management, management of (fast) growth, finance (attracting venture capital, valuation of a business, exit decision), human resource management, strategic management, management of internationalization and related issues. Next to theory, guest lecturers and startup events will deepen your insights on entrepreneurship in practice and provide room to ask current entrepreneurs questions about how they manage their ventures and startup life cycle.

By the end of this course, students will have gained fundamental knowledge on theoretical and practical entrepreneurial mechanisms. They would be able to think critically and evaluate entrepreneurial topics from various perspectives. Some of the areas we touch upon (such as entrepreneurial finance) could be a complete course in their own right. This course aims at the big picture: with entrepreneurial strategy, we will set the frame of what is essential to grow the business. You will be familiarized with the (high-tech) business life-cycle and relevant stages therein. We will consider management implications towards “growing the business” and specifically look at the role of 1) Marketing & Sales 2) The Team 3) Internationalization and 4) Entrepreneurial Finance to foster growth. Thus, students will gain insights about marketing in the growing venture, (high-performance) entrepreneurial teams, familiar with opportunities and challenges in internationalization and gain basic knowledge on valuation, venture capital and entrepreneurial finance in general. Toward the end of the course, we will look into more specialized issues facing entrepreneurs at later stages (e.g. financing and term sheets). In general, students will also be provided with a strong theoretical basis to conduct future research (e.g. their master thesis) and be enabled to connect with entrepreneurs and gain insights from practice. The case presentations will foster their skills of applying entrepreneurial tools, their problem-based learning as well as their team-working skills. Students will be well-prepared to conduct their own research (given that they complete the MAN 770 Research Seminar in addition) in their Master Thesis and will be given plenty of opportunities and triggers to advance their own entrepreneurial pursuits. 

Founders and experts are invited to MCEI's flagship events - Startup Lounges and Founder Talks. These events are meant to insipire students in their startup journeys and their attendance in these open-to-public events is strongly recommended. Overall, the course is intensive and requires students to carefully prepare, read and understand the course material (it should be remembered that 6 ECTS are a total workload of up to 180 hours). Thus, active attendance and participation is crucial for students in order to be able to make the best out of this course. Although this course does have some hands-on elements, MCEI's application-oriented courses is MAN 631 Creativity and Entrepreneurship in Practice (available in HWS/Fall semester only) to help students found their own businesses and MAN 633 Entrepreneurial Spirit (available in both FSS/Spring and HWS/Fall semesters) to help students to either further develop their own startup or to join a startup with a student team.

If you like theory and reading next to some practical insights or just want to obtain a solid foundation on what entrepreneurship is, and to find some inspiration for venturing on your own entrepreneurial pursuit, then this course can be quite helpful. No other prerequisites are needed.


Learning Outcomes

By the end of this course students

  • will have gained fundamental insights into theoretical perspectives on entrepreneurship
  • have learned tools that facilitate growing a business
  • have some idea on how investors look at new ventures
  • will be acquainted with case study training and elements of problem-based learning (PBL)
  • will have improved their case solving and presentation skills
  • have a solid foundation e.g. for a seminar or master thesis at MCEI's chair - especially for the "Inside the Venture" theses
  • have improved their problem solving capabilities

Note on choosing MAN 632 vs. alternatives:

You should choose MAN 632 if you:

  • 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.
  • are interested in startups and entrepreneurship in general and want to gain a top-level view on both entrepreneurship in theory and practice.
  • like the practical world but do not want to lose sight of the underlying academic foundations.
  • love aiming for the big picture and love discussing topics of interest from a variety of angles.
  • do not like courses based on keywords and phrases to learn but on concepts to put into perspective and forming your own sophisticated line of argumentation.

You should not choose MAN 632 if you:

  • expect this to be a multiple-choice-style course of memorizing material and then 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 courses MAN 631 or MAN 633 Track 2 instead.
  • want to advance an existing startup project and get the feeling of what it is like to work in a startup with all the responsibilities this brings along, join MAN 633 Track 1 instead.


Registration and Final Course Decision

Interested students must register via the Student Portal ( during registration period. Please note that attendance is restricted to 60 participants. If there are more registrations than spots available, spots will be assigned randomly and those not obtaining a spot will be assigned to a waiting list (due to fairness criteria we cannot allot spots on a first-come-first-served basis). Students are required to confirm their decision about their participation in the course by the second lecture, so that those on the waiting list have a fair chance to participate. Usually, all students are granted a spot after the registration process is consolidated.

In case you do not have a UniMA student number (Matrikelnummer) please send an e-mail to the course coordinator (contacts provided below). You will be added manually to the class once you have obtained and provided us with your student ID. However, please make sure to register and obtain your Ecum card immediately after your arrival in Mannheim. You can only be officially added when you are fully enrolled at the university. Students who encounter Portal² problems are kindly requested to contact RUM Support at this link.

Although you will see the option to register for Case Study Sessions via the Student Portal, please ignore this option and make sure to apply only for the overall course. It is not necessary to register for case study sessions upfront. We will coordinate case study groups via the MCEI pages when the course enrollment is final. You will form teams for this course and each team has to pick a Case Study Group. You can swap groups by Case Study Sessions 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 and the sessions will fail this part of the course (constituting 50% of their grade). Students may (only exceptionally) miss out on individual sessions provided they have engaged in the overall team effort of preparing the presentation and provided the team has no issues with their absence. Dropping the class after team formation is not possible (see introduction lectures), as this would lead to fricticon and unnecessary strain on the teams.

Next to your Portal² registration, we kindly request you to join our course group on the MCEI platform. Instructions will also be provided throughout the first sessions and via e-mail to all students who have registered via Portal². In this class, we will not work with the University of Mannheim ILIAS system. You need the MCEI course group to obtain your study material and stay up to date regarding all course information and relevant discussions. In case you face trouble signing up, please contact the course coordinator. Click here to register for the course group!


Place and Time


  • Lecture: February 12 - May 28th 2019 (Tuesdays) from 1:45 pm - 3:15 pm, Place: O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel)
  • Case study presentation sessions will be coordinated at your team's convenience once enrollment is completed. The sessions will be 4x1h each (i.e., 4hrs in total).
  • Our MCEI DesignLab will offer you lots of space - just in case you want to put your own ideas into practice next to class or want to develop your case solutions like a startup.
  • You can find a detailed schedule here, as soon as it is available.

Please ignore all the Wednesday appointments in your Student Portal if they show up - this is just an automatic system notice following room booking.



Final examination (50%) and 4 team Case Presentations (50%); please note that dropping the class after team building in Session 3 is not possible.


Persons in Charge

Lecturers: Prof. Dr. Michael Woywode, This email address is being protected from spambots. You need JavaScript enabled to view it.


Course Load and Language


Language: English


Readings and Resources

Readings & Resources:

See detailed course outline below.

Course Material:

All course material (where applicable) will be provided via the MCEI Group "MAN 632 Advanced Entrepreneurship FSS 2019". We will not use ILIAS at any point in this class. Please do not be irritated by the ILIAS option not being available.


Additional Information and Recommendation

Our students are encouraged to join our Startup Lounges and Founder Talks on a regular basis - it is part of their overall entrepreneruial experience. Transferring insights from class to the real world by learning from real startups and their challenges forms 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 a lot of material, and participate actively in class and case discussions. Readings are important to understand applications and follow the lectures and class discussions. All students are expected to participate in the case discussions and presentations. Your active participation will benefit you significantly in preparing for the exam, which is a continuous learning endeavor in this class rather than 1 week of learning materials by the end of class. Students, if applicable, purchase the case studies themselves and prepare them upfront (Harvard Business School Publishing). MCEI cases will be provided via the course group.

Notice for repeat students (3rd sit): We strongly recommended you fully retake this class with regular attendance - we have changed the grading scheme and some content. 


Detailed Schedule and Course Content for Spring 2019

Session 1 | 12 February 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Introduction & Outlook

The Basics of Startup Development

Recommended Reading:

  • Ash Maurya (2016). Scaling Lean: Mastering the Key Metrics for Startup Growth (about 20 copies in library)


Session 2 | 19 February 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Setting Strategy

Entrepreneurial Strategy & Dynamic Capabilities

Core Readings:

  • Kuratko, D.F., Audretsch, D.B. (2009). Strategic Entrepreneurship: Exploring Different Perspectives of an Emerging Concept. Entrepreneurship Theory & Practice, 33 (1), 1-17.
  • Ireland, R.D., Hitt, M.A., Sirmon, D.G. (2003). A Model of Strategic Entrepreneurship: The Construct and its Dimensions. Journal of Management, 29 (6), 963-989.
  • Shane & Venkataraman (2000). The Promise of Entrepreneurship as a Field of Research. The Academy of Management Review, 25.
  • Teece, D.J. (2007). Explicating Dynamic Capabilities: The Nature and Microfoundations of (Sustainable) Enterprise Performance. Strategic Management Journal, 28 (13), 1319-1350.


Session 3 | 26 February 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Entrepreneurial Teams & Team Building

Forming Case Study Teams (attendance is crucial - coordinate via MCEI Group upfront if you cannot attend!)

Core Readings:

  • Katzenbach, J., Smith, D. (2000). The Wisdom of Teams: Creating the High Performance Organization. Harper Business.
  • Jenewein, W., Morhart, F. (2008). Navigating toward team success. Team Performance Management, 14 (1/2).
  • Klotz, Anthony C., et al. "New venture teams: A review of the literature and roadmap for future research." Journal of Management 40.1 (2014): 226-255.
  • Arregle, Jean‐Luc, et al. "Family ties in entrepreneurs' social networks and new venture growth." Entrepreneurship Theory and Practice 39.2 (2015): 313-344.


Session 4 | 05 March 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Setting the culture & Communication

Core Readings:

  • Fisher, Greg, Suresh Kotha, and Amrita Lahiri. "Changing with the times: An integrated view of identity, legitimacy, and new venture life cycles." Academy of Management Review 41.3 (2016): 383-409.


Session 5 | 12 March 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Resource Allocation & Building the Cash Flow Generating Engine

Intro to Startup Growth

Core Readings:

  • Oe, A., & Mitsuhashi, H. (2013). Founders' experiences for startups' fast break-even. Journal of Business Research, 66(11), 2193-2201.
  • Wyld, D. C., & Maurin, R. (2009). What Matters More in Growth Companies: The Leader or the Idea?. The Academy of Management Perspectives, 23(2), 95-96.


Session 6 - CASE STUDY SESSION | 12 March 2019 | Room 210, L9, 1-2

Case I: Airbnb

  • Case Questions in MCEI Group
  • Presentation Schedule UPDATE
    • Group 1: 3:30 pm - 4:45 pm (5 teams)


Session 7 | 19 March 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Growth via Marketing

Core Readings:

  • Webb, J.W., Ireland, R.D., Hitt, M.A., Kistruck, G.M., Tihanyi, L. (2011). Where is the opportunity without the customer? An integration of marketing activities, the entrepreneurship process, and institutional theory. J. of the Acad. Mark. Sci. (2011) 39:537-554.

Recommended Readings:

  • Moore, G.A. (2002). Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers (Collins Business Essentials); skim-read.


Session 8 | 26 March 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Growth & Survival

Growth via Internationalization

Core Readings:

  • Brüderl, J., Preisendörfer, P., Ziegler, R.(1992). Survival Chances of Newly Founded Business Organizations. American Sociological Review, 57 (2).
  • Vanninen, Heini, Olli Kuivalainen, and Luciano Ciravegna. "Rapid multinationalization: Propositions for studying born micro-multinationals."International Business Review 26.2 (2017): 365-379.


Session 9 - CASE STUDY SESSION | 26 March 2019 | Room 210, L9, 1-2

Case II: Uber

  • Case Questions in MCEI Group
  • Presentation Schedule UPDATE
    • Group 1: 3:30 pm - 4:45 pm (5 teams)


Session 10 | 02 April 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

FINANCING GROWTH I : Venture Capital & The VC Method

Core Readings:

  • Note on Financial Contracting: "Deals" (HBS)
  • Deal Structure and Deal Terms (HBS)
  • How Venture Capitalists Evaluate Potential Venture Opportunities (HBS)
  • Hellmann,T., Puri, M. (2002). Venture Capital and the Professionalization of Start-Up Firms: Empirical Evidence. The Journal of Finance, 57 (1).


Session 11 - CASE STUDY SESSION | 02 April 2019 | Room 210, L9, 1-2

Case III: Airbnb, Etsy, Uber: Growing from one thousand to one million customers.

  • Case Questions in MCEI Group
  • Presentation Schedule UPDATE
    • Group 1: 3:30 pm - 4:45 pm (5 teams)


Session 12 | 09 April 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

FINANCING GROWTH II : How the VC Industry works

Core Readings:

  • same as Session 10


Session 13 | 30 April 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Talk by Dirk Meurer of Vorwerk Ventures on Corporate Venture Capital


Session 14 - CASE STUDY SESSION | 30 April 2019 | Room 210, L9, 1-2 | 3:30 pm - 4:45 pm

Case IV: Drop Box Series B

  • Case Questions in MCEI Group
  • Presentation Schedule UPDATE
    • Group 1: 3:30 pm - 4:45 pm (5 teams)


Session 15 | 07 May 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Beyond the Startup World: Corporate Entrepreneurship & Innovation

  • Kohler, Thomas. "Corporate accelerators: Building bridges between corporations and startups." Business Horizons 59.3 (2016): 347-357.
  • Weiblen, Tobias, and Henry W. Chesbrough. "Engaging with startups to enhance corporate innovation." California Management Review 57.2 (2015): 66-90.
  • Turró, Andreu, David Urbano, and Marta Peris-Ortiz. "Culture and innovation: The moderating effect of cultural values on corporate entrepreneurship." Technological Forecasting and Social Change 88 (2014): 360-369.


Session 16 | 14 May 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

The throne vs. the kingdom - Exits & Successions

  • Wasserman, Noam. "The throne vs. the kingdom: Founder control and value creation in startups."Strategic Management Journal 38.2 (2017): 255-277.


Session 17 | 21 May 2019 | O131 Wilhelm Müller Hörsaal (Schloß, Ostflügel) | 1:45 pm - 3:15 pm

Q&A & Course Wrap Up (No new material)




E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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