Session_01_Entrepreneurship & Unternehmensführung_VL_Upload

Page 1: Introduction to the Course

• Institution: Universität Bonn

• Instructor: Prof. Dr. Denise Fischer-Kreer

• Session: 1 (Winter Semester 24/25)

• Focus: Entrepreneurship and Business Management

Page 2: Historical Quotes on Computing

• Quote from Thomas Watson, Chairman of IBM (1943):

  • "I believe the world market for computers may be only five units."

Page 3: Critical Quotes on Market Predictions

• Quote from Ken Olsen, President of DEC (1968):

  • "There is no reason anyone would want a computer at home."

• Kaiser Wilhelm II:

  • "I believe in the horse. The automobile is only a passing phenomenon."

• Gottlieb Daimler:

  • "At most, 5000 vehicles will be built because there aren’t enough chauffeurs to drive them."

• Charles H. Duell, US Patent Office (1899):

  • "Everything that can be invented has been invented."

Page 4: Lessons from History

• iPhone Market Share:

  • Initial prediction by Steve Ballmer: "No chance the iPhone will gain significant market share."

  • Reality: iPhone achieved a 17% market share within its first year; 27.63% by 2023.

  • iPhone transformed the smartphone market with its touch-screen interface, pushing Nokia out of the market.

Page 5: Impact of Technological Development

• Over the last 100 years, technological advancements have displaced established market leaders.

Page 6: Constant Adaptation to Market Changes

• Innovations continuously transform markets.

• Quote from Peter Drucker:

  • "The best way to predict the future is to create it."

Page 7: Increased Innovation Pressure on Businesses

• Environmental Factors:

  • Scarcity of resources leads to higher costs.

• Economic Factors:

  • Public austerity measures and economic crises in Europe.

• Technological Factors:

  • Emergence of quantum chips.

• Socio-cultural Factors:

  • Increased life expectancy creates new markets.

• Political and Legal Factors:

  • Significant cuts to solar subsidies.

• Technological Challenges:

  • Shorter product life cycles, increased complexity, fragmented value chains, limited resources, uncertain market developments, and exponential knowledge growth.

Page 8: Creation of New Businesses and Business Models

• Business Valuation (2023):

  • $70 billion, $84 billion, $162 billion, $652 billion (Source: Macrotrends.net).

Page 9: Opportunities Following the COVID-19 Crisis

• Benefiting Sectors:

  • Stay-at-home Economy:

    • Companies like Zoom, Cisco's Webex, Amazon, Netflix, etc.

  • 5G Providers:

    • Companies: Telekom, Huawei, Qualcomm.

  • Remote Services:

    • Telemedicine providers.

Page 10: Course Agenda

• Overview provided of the course structure, assessments, and topics to be discussed.

Page 11: Information on Structure and Assessments

Page 12: Introduction to the Team

• Team comprised of:

  • Prof. Dr. Denise Fischer-Kreer (Entrepreneurial Behavior)

  • Raffael Stefanik

  • Kristin Brennhäußer

Page 13: Student Introductions

• Students introduce their fields:

  • Computer Science (21%), Agricultural Sciences (19%), Food Sciences (10%), Geosciences (5%), Geography (5%), Entrepreneurship & Business Management (50%).

Page 14: Student Expectations for the Module

• Interest in self-employment and business topics; high hopes for an engaging course.

Page 15: Course Structure along Startup Development Phases

• Focus areas include recognizing and assessing opportunities, scaling up, sustainability management, and corporate strategy.

Page 16 to 18: Course Schedule Overview

• Includes preliminary schedule for lectures, guest speakers, and topics from October to December.

Page 19: Course Preparation Materials

• Materials will be uploaded to eCampus for study and preparation.

Page 20: Assessment Method

• Final exam on February 5, 2025, with multiple-choice and open questions; understanding of content required for success.

Page 21: Learning Objectives of the Module

• Explore the challenges of entrepreneurship, assess sustainability, and understand social, ethical, and ecological responsibilities.

Page 22: Practice Exercises in the Course

• Includes guest lectures, practical exercises, and a student competition to apply entrepreneurial concepts.

Page 23: Confirmed Guest Speakers

• Features speakers from various successful startups and organizations.

Page 24: Tentative Schedule for Guest Speakers

• Schedule provided for guest speakers appearing throughout the course.

Page 25: Recommended Reading for Deeper Understanding

• Various literature on entrepreneurship and innovation provided for further study.

Page 26: Course Content Introduction

Page 27 to 29: Relevance of Business Studies

• Discusses the historical evolution of business studies and their necessity in economic documentation.

Page 30: Need for Economic Growth

Page 31: Significance of Growth in Young Companies

• Contribution to technological change, market creation, job security, and economic growth.

Page 32 to 34: Innovation Management Process

• Six steps outlined for effective innovation management.

Page 35: Definition of Innovation

• Broad and narrow definitions provided for understanding innovation in entrepreneurship.

Page 36: Characteristics of Innovative Ideas

• Such as new sales strategies, business processes, and service offerings.

Page 37: Definition of Innovation

• Emphasis on creation, introduction, and diffusion of new products and services.

Page 38: Types of Innovations

• Differentiates between radical and incremental innovations.

Page 39: Different Objects of Innovation

• Product, service, process, and business model innovations.

Page 40: Types of Innovations

• Further categorization of innovations based on reference objects and levels.

Page 41: Innovation Generation Methods

• Discusses technology push and market pull methods.

Page 42: Overlooking Innovations in Established Firms

• Comparison of innovation approaches between established companies and startups.

Page 43: Schumpeter's Concept of Creative Destruction

• Explains how entrepreneurs disrupt existing markets with new combinations.

Page 44: Facts about Entrepreneurship

• Discusses the nature, learnability, and collaborative aspects of entrepreneurship.

Page 45: Expanding Definition of Entrepreneurship

• An extensive view that goes beyond just starting companies.

Page 46 to 48: Types of Entrepreneurship Overview

• Exploration of various types including corporate, serial, and social entrepreneurship.

Page 49 to 50: Social Entrepreneurship

• Emphasizes the various domains and impacts of social enterprises.

Page 51 to 52: Notable Entrepreneurs

• Examples of successful entrepreneurs and their unique paths to success.

Page 53: Characteristics of Entrepreneurs

• Traits shared by entrepreneurs and the learnability of entrepreneurship.

Page 54: Advantages and Disadvantages of Founding Companies

Page 55: Survivorship Bias in Entrepreneurship Perceptions

• Highlights the need to learn from failures.

Page 56: Constraints of Entrepreneurship

• Discusses liabilities and challenges faced by new ventures.

Page 57: Importance of Innovation-based Economies

• Factors that drive entrepreneurial behavior in innovative economies.

Page 58 to 59: GEM Classification

• Provides insights into improving entrepreneurial activity through education and culture.

Page 60 to 62: Contributions of Women Entrepreneurs

• Highlights the positive effects of increased female representation in entrepreneurship on society and the economy.

Page 63: Key Takeaways

• Recaps the importance of growth, innovation, and the entrepreneurial mindset for economic contributions.