Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.

LEARNING OUTCOMES

Students will develop an understanding of two big issues that entrepreneurial businesses entering new markets face: (1) market and competitive analysis and (2) strategic positioning and dynamics. Students will learn to apply a number of theoretical ideas to analyse these issues, such as transaction costs, asset specificity, predatory strategies and price discrimination.

Credits: 6

Schedule: 02.02.2021 - 04.02.2021

Teacher in charge (valid 01.08.2020-31.07.2022): Johannes Gartner, Teemu Kautonen

Teacher in charge (applies in this implementation): Johannes Gartner

Contact information for the course (valid 11.01.2021-21.12.2112):

Professor Teemu Kautonen
(teemu.kautonen@aalto.fi)
Dr Johannes Gartner
(johannes.gartner@aalto.fi)


CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content
  • Valid 01.08.2020-31.07.2022:

    Entrepreneurial businesses from start-ups to established corporations enter new markets with innovative products and services. This course covers strategic considerations and analysis tools that are relevant for understanding the market that the firm is about to enter and for developing a strategy that leads to a successful entry and sustainable competitive advantage.

  • Applies in this implementation:

    What the main objectives and contents of this course are

    Innovations are crucial for economic development and societal welfare. Entrepreneurship is the key
    function in bringing innovations to the market. This course examines how entrepreneurial
    businesses from start-ups to established corporations bring new innovative products and services to
    the market.

    The first objective of the course is developing an understanding of strategic considerations and
    analytical tools that are relevant for evaluating the market that the firm is about to enter and for
    developing a strategy that leads to a successful entry and sustainable competitive advantage.

    The second objective is learning to apply that understanding to analysing real market entry
    situations through business case analysis.

    What you should know before you start the course

    The course has been designed so that students from a variety of backgrounds can attend it and there
    are no prior course requirements. Basic knowledge of microeconomics is helpful, but we have
    endeavoured to provide clear explanations of all economic concepts used in the course in the online
    materials. Alternatively, or additionally, you can read the ‘Economics Primer’ section in the
    recommended textbook to brush up on basic microeconomics.

    What you should know after completing the course

    After completing this course students will have developed an understanding of two big issues that
    entrepreneurial businesses entering new markets face: (1) market and competitive analysis and (2)
    strategic positioning. They will also have learned to apply the conceptual material related to those
    issues to real business cases.

    How you can extend your knowledge in this area after the course

    The Department of Management Studies at the Aalto School of Business offers a variety of courses
    in entrepreneurship and strategic management that you can extend your knowledge of this area with.
    You can also develop your knowledge by taking courses from the Aalto Ventures Program
    (avp.aalto.fi).


Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Midterm and final exams (online)

  • Applies in this implementation:

    Course format

    The course is based on online learning and self-study, and it comprises of two types of contents:

    1. 1)  Concepts: Instead of lectures, we have prepared extensive interactive online learning
      materials for you to study at your own pace, wherever and whenever you want. We have
      done our very best to make them work on mobile devices as well. The midterm exam will
      test your understanding of the online learning materials.

    2. 2)  Cases: You will be required to apply the online learning materials to four business cases,
      which will be the subject matter of the final exam. You can study the cases at your own pace,
      make as many notes as you want, and use the notes in the final exam.



    Pass requirements and marking

    In order to complete this course successfully you will need to collect 50 or more points out of the
    total of 100 available. The distribution of the points and the work required are described in more
    detail below.

    The final marks are based on the total points as follows:

    50-59 points 1
    60-69 points 2
    70-79 points 3
    80-89 points 4
    90-100 points 

    1. Completing the online learning modules (0 or 10 points)

    You will need to complete all seven online learning modules such that you score at least 70% correct
    in the questions included in each module. You can repeat each module as many times as you wish.

    The online learning systems opens on Monday, 11 January at 8:00 and stays open until Sunday, 31
    January 23:55. Within this time frame, you can complete the modules at your own pace.

    You will get 10 points if you complete all seven modules on time (by Sunday, 31 January 23:55) and
    0 points if you fail to do so.

    2. Midterm exam (0-30 points)

    The midterm exam tests what you have learned in the seven online learning modules. The exam
    comprises 30 single-choice questions with 5 answer options each. For each correct answer, you get
    one point – up to a total of 30 points. You have 45 minutes to complete the exam.

    The exam is administered online on MyCourses on Monday, 1 February 17:00-17:45. Time is very
    limited so make sure you have logged in well before the exam commences.

    Because the exam is online, you can take it wherever you wish, as long as you can access MyCourses
    with a reliable internet connection. You can use any supporting materials you wish – but note that
    you have on average 90 seconds per question, so don’t rely on studying while taking the exam.

    Note that the questions and answer options are presented to each student in a random order. Thus,
    asking a fellow student sitting next to you what the answer to question 10 is won’t work.

    Should you miss or not pass the exam, or you are unhappy with your score, you can retake the exam
    on Monday, 8 February 17:00-17:45. If you take the exam twice, the higher score counts to your final
    mark.

    3. Final exam (0-60 points)

    The final exam requires you to apply the concepts you have learned in the online learning modules
    to four cases: Flybaboo, Newlight Technologies, Slavic Treasures and Plumis.

    There will be two questions requiring answers of up to 1000 words each. The exam will be open
    books, open notes and it is highly advisable to prepare well in advance. The slide set we have prepared
    for you should be a handy memory aid of the theoretical material covered in the course.

    In addition to the conceptual material, you will need to know the four cases thoroughly in order to
    do well in the exam. It is highly advisable to analyse the cases in advance – working alone or with
    peers – and make notes as you go.

    The exam will be organised online in MyCourses on Monday, 22 February 9:00-21:00. You
    can start the exam at any time in the above time frame. Once you click the start button, time will
    start running and you will have three hours to write your answers. We recommend using a word
    processor or another offline text editing software to write your answers and copy them to MyCourses
    once you are done.

    Should you miss or not pass the exam, or you are unhappy with the score, you can resit it on Friday,
    5 March 9:00-21:00. If you take the exam twice, the higher score counts to your final mark.

    Marking criteria. You will receive high marks if your exam answers analyse rather than describe
    the case. The most important marking criterion is your ability to apply theoretical material from the
    course to analysing the case and arriving at well-justified conclusions. Your overall analysis and the
    way you arrive at your conclusion or strategy recommendation to the case company is more
    important than what you actually recommend.

    Example: An exam question might ask you to recommend the case company to either make their own
    product or outsource production to another firm. Whether you recommend making or outsourcing is
    not as important as how you justify the recommendation.

    For examples of how case analysis using the theoretical material in this course can be crafted, there
    are two examples of excellent case analysis reports in MyCourses (uploaded with the students’
    permission). The answers required in the exam are of course much shorter than the aforementioned
    case reports, but the reports give you a good idea of how to analyse, rather than just describe a case,
    with good application of theory.


Workload
  • Valid 01.08.2020-31.07.2022:

    Contact hours 8 h (optional; the course can also be completed fully online)
    Individual study 152 h

DETAILS

Study Material
  • Valid 01.08.2020-31.07.2022:

    Theoretical material in the online learning environment in MyCourses
    Cases (available in MyCourses)

  • Applies in this implementation:

    Syllabus 25C52000 period III 2021


    All materials needed for the course are available in MyCourses. You will need to study:

    1. 1)  The online learning materials. The materials have been divided into seven thematic
      modules, each of which comprises one to three learning objectives. We have also prepared a
      set of slides that offers a summary of the principal theoretical content that you can study in
      addition to the interactive learning modules in MyCourses.

    2. 2)  Four business cases: Flybaboo, Newlight Technologies, Slavic Treasures and Plumis.

    Additionally, you can use the following textbook to enhance your learning:

    Besanko, David, Dranove, David, Shanley, Mark, & Schaefer, Mark (2013). Economics of
    Strategy. 6th Edition International Student Version. Wiley. Chapters: 2, 3, 5, 6, 8 and 9 (and
    the Economics Primer at the beginning of the book if you need to brush up on basic
    microeconomics).

    There are several copies of the book available in the library.


FURTHER INFORMATION

Details on the schedule
  • Applies in this implementation:

    Syllabus 25C52000 period III 2021


    The online learning system on the MyCourses site for the course will open on Monday, 11 January
    at 8:00. It will stay open until Sunday, 31 January at 23:55. In this time, you will have to complete
    all seven learning modules, achieving 70% correct answers in the questions included in the modules.
    You can repeat each module as many times as you want.

    The midterm exam will take place online in MyCourses on Monday, 1 February at 17:00 and a resit
    will be organised on Monday, 8 February at 17:00. See below for more information.

    The final exam is on Monday, 22 February and can be taken at any time between 9:00 and 21:00.
    A resit is organised on Friday, 5 March, also between 9:00 and 21:00. The exam is online in
    MyCourses.