Entrepreneurship and Innovation

Sustainable Development Goals (SDG)

• 4. Quality education
• 8. Decend work and economic growth
• 9. Industry, innovation and infrastructure

Objectives

Currently, the concept of "entrepreneurship" plays a fundamental role in the development of the economy and the well-being of societies. The creation of innovative and socially responsible entrepreneurial projects allows for new products and services based on ideas that apply knowledge and technologies creatively. All of this generates important benefits such as quality jobs, creation of value for society, care for the environment... These projects serve to inspire and develop the entrepreneurial spirit in other people. This subject aims to promote the entrepreneurial spirit of students and transmit the key knowledge that anyone who wants to start a business should know.

Objectives

The five main axes of the subject are:

• Become aware of the importance of having an entrepreneurial attitude in life, both in the personal and professional spheres.
• Provide students with knowledge to analyze the viability of a business idea or business project.
• Provide specific tools and resources that facilitate the process of creating innovative companies.
• Provide effective strategies for selling a business project to clients, investors and partners.
• Transform a business idea with potential into a high-value business project.

Learning outcomes

• Demonstrates communication skills.
• Learn about the procedure for creating and launching a digital business.
• It uses marketing strategies and evaluates them through standard evaluation models.
• Apply their knowledge to problem solving in complex work environments and in professional and specialized areas that require the use of creative and innovative ideas.
• Collects and interprets data and information on which to base their conclusions, which include reflections on social, scientific and ethical issues in their field of study.
• Resolves problems and situations related to professional development with entrepreneurial and innovative attitudes.
• Uses oral language (verbal and non-verbal) appropriately in personal and professional interaction.
• Apply their knowledge, understanding of this knowledge and problem-solving skills in complex work environments that require the use of creative and innovative ideas.
• Learn the basic concepts of business management.
• Knows how to develop and communicate a marketing plan.

Competencies

General skills

• Desire to take part in lifelong learning, innovate, create value and acquire new knowledge.

Specific skills

• Have skill in communication and digital marketing, entrepreneurship and business management.

Basic skills

• Students can apply their knowledge to their work or vocation in a professional manner and have competencies typically demonstrated through drafting and defending arguments and solving problems in their field of study.
• Students have the ability to gather and interpret relevant data (usually within their field of study) in order to make judgments that include reflection on relevant social, scientific and ethical issues.

Core skills

• Project the values of entrepreneurship and innovation in one's academic and professional career, through contact with a variety of practical contexts and motivation for professional development.
• Use oral, written and audiovisual forms of communication, in one's own language and in foreign languages, with a high standard of use, form and content.

Content

1. Presentation of the entrepreneurial phenomenon
2. Innovation and creativity for the development of a business idea
   1. Current scenario for companies
   2. The organization
   3. Innovation
      1. Definition of innovation
      2. Types of innovation
      3. Systematization of innovation
      4. Keys to innovation
   4. Creativity
      1. Creativity and innovation
      2. Creativity, people and organization
      3. The creative process
      4. Creativity techniques
   5. Talent management
      1. Definition of talent
      2. Age of talent/knowledge
      3. Strategic talent management
      4. Situation of talent management in Spain
   6. Organization 2.0
      1. Definition and characteristics of organizational culture
      2. Definition of company 4.0 and innovative culture
      3. Networkarchy vs hierarchy
      4. Characteristics of 4.0 organizations
   7. Leadership and change management
      1. Change management
      2. Leadership
      3. Leadership styles
   8. Tools for change
      1. Mentoring
      2. Coaching
   9. 2.0 tools that create innovative environments
      1. Internal networks
      2. Functionalities of 4.0 tools
3. From the idea to business plan: how to develop my business plan
   1. Preliminary concepts
      1. The economic problem
      2. The company as an alternative mechanism to the market
      3. Prices in a competitive market
      4. Market usage costs: transaction cost
      5. The company from a macroeconomic point of view
      6. Value creation
   2. The company from the internal perspective
      1. Company elements
      2. Human factor coordination: integration
      3. Human factor coordination: interconnection
   3. Global environment and level. The globalization of business activity
      1. Technological change
   4. Analysis of the general environment: macro environment
      1. Sociocultural factors
      2. Demographic factors
      3. Economic factors
      4. Legal factors
      5. Competitiveness factors of a country's companies
   5. Analysis of the specific environment: microenvironment
      1. Basic competitive forces
      2. Competitive strategies
   6. The entrepreneur and the managerial role
      1. Businessman and characteristics
   7. The company's objectives. Value creation
   8. Management functions
      1. Planning
      2. Organization
      3. Human resources management
      4. Control
   9. The term "marketing"
   10. Marketing concepts and definitions. Types of marketing
   11. Criticism of marketing
   12. Marketing management in the company
   13. Strategic marketing
   14. Operational marketing
   15. The commercial function
   16. The marketing department
   17. The marketing plan
   18. The SWOT analysis
   19. Introduction: concept of segmentation
       1. Main uses of segmentation
   20. Positioning
   21. The design of marketing strategies
       1. The product
       2. The price
       3. The distribution
       4. The promotion
4. Establishing a personal brand: how to sell my business idea throughelevator pitch
   1. Communication
   2. The functions and objectives
   3. Types of communication: functions and objectives
   4. Essential elements of communication
   5. Communication facilitators
   6. Communication problems: communication barriers
   7. Tips for overcoming communication barriers
   8. Development of communication skills
   9. Public speaking
   10. What are you? elevator pitch
   11. How to create yours pitch
   12. Body language
5. Alternatives to finance my project
   1. Investment concepts
   2. Investment project
   3. Investment characterization
   4. Economic attributes of the investment
   5. Economic acceptance criteria for investment projects
   6. Capitalization concept
   7. Update concept
   8. Evaluation of the economic attributes of investment projects
   9. Effect of inflation on the financial profitability of investment projects
   10. Effect of taxation on financial profitability
   11. Sunk costs
   12. Opportunity costs

Evaluation

• AV1. Participation observation: 5% (individual activity)
• AV2. Monitoring of the work carried out: 5% (group and individual activity)
• AV3. Preparation of a elevator pitch: 20% (individual activity)
• AV4. Exercises and communication activities during the course: 25% (individual activity)
• AV5. Development of a business plan: 45% (group activity)

If you do not pass the subject in the ordinary exam, you can only retake the AV5 activities in the retake exam.

Methodology

This subject is multimodal and based on the flipped classroom model. The main contents are developed through documentation and various videos. Throughout the course, students must develop a business plan that includes the development of an economically viable project. Finally, students must upload a presentation (elevator pitch) that the teacher analyzes and evaluates. During the semester, different exercises and assignments are done, as practices, the evaluation of which is part of the final grade. The use of artificial intelligence in problem solving is introduced as a consultation tool and its successes and limitations are analyzed.

Bibliography

Key references

• Downes, L., & Nunes, P. (2014). Big bang disruption: Business survival in the age of constant innovation. Penguin.
• Gómez Gras J.M., Fuentes M., Batista Canino RM, Hernández Mogollón R. (2011). Manual de casos practicos sobre creacion de empresas y emprendimiento en España. Mcgraw-Hill.
• Maqueda Lafuente, J. (2011). Marketing para los nuevos tiempos. McGraw-Hill.
• Ries E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses (2 ed.). Crown Business.
• Viki, T., Toma, D., & Gons, E. (2019). The Corporate Startup: How Established Companies Can Develop Successful Innovation Ecosystems. Vakmedianet Management BV.

Further reading

Teachers will provide complementary bibliography and compulsory reading throughout the course via the Virtual Campus.