Syllabus
1Introduction 1.1Lecturer introduction 1.2Student introductions and expectations 1.3How we work and how we evaluate 1.4"eternal" truths 1.4.16 year's old – examples 1.5What is: 1.5.1Entrepreneurship – examples 1.5.2Management – examples 1.6Who is who 1.6.1Enterprise, establishment, owner 1.6.2For profit subjects
Self employment,
Companies – limited, joint- stock company, shareholders, directors, board of directors, supervisory board, CEO, board of trustees 1.6.3Nonprofits schools, academia – founder(s), association – committee, chairman institute – board of directors, supervisory board, CEO, board of trustees foundation – board of directors, supervisory board, CEO, board of trustees 1.6.4Information about an enterprise company register – listing, collection of documents, financial reports, statutes, meetings, other enterprise vs. owner – examples company relationships, control small, medium, large enterprise, conflict of interests 1.7Where - “ring of fire” phenomenon 1.7.1Why and how in Czechia 1.7.2Why and how outside – EU, CH, USA 1.8"eternal" truths 1.8.1Good question the answer is measurable and decreases uncertainty – parameters and the way to measure these 1.9Enterprise lifecycle 1.9.1Idea 1.9.2Assessment – a lot of good question is needed 1.9.3Founding 1.9.4Operation 1.9.5Winding-up liquidation, sale, takeover 1.10Money 1.10.1From where my own or 4F, investor, loan, crowdfunding, fundraising 1.10.2Return
„sunk costs“ vs. dividends, remuneration, salary, proceeds from sale 1.11"eternal" truth 1.11.1We are not accountants, we don’t need to count each penny – Guesstimation example 2Enterprise working 2.1Model of an enterprise (Porter) 2.2Internal 2.2.1Value creating process (manufacture/service) 2.2.2Technology – purchase, leasing 2.2.3Facilities – purchase, rent, building 2.2.4Direct/indirect costs 2.2.5To own or to outsource? 2.3External 2.3.1Purchasing raw materials, work force, entire process - outsourcing 2.3.2Sales distribution channels, B2C, B2B, B2G free competition, public tenders, B2G grants regulation, quality pricing, price elasticity manufacturing costs, distribution costs, market price, U-rule washing powders 80/20, "PC" vs. Apple 2.4Sector characteristics 2.4.1Innovation cycle 2.4.2Investment cycles 2.4.3Business models sales – direct, via distributors, brick and mortar shop, e-shop material vs. immaterial goods computer, car, SW – boxed vs. electronic licence data, intellectual property, licence, franchise goods as service mobile phones – new iPhone every year
SW – Office 365, macOS, W10 service employment as a product social enterprise 2.5Company value 2.6Lean canvas 2.6.1Basic questions of the business idea 2.7Homework – video on financial reports – Baruch college 3Financial management and finance 3.1Where do the money come from and why should someone give it to you 3.1.1Own capital – shareholders, caravan model 3.1.2Investment 4F, angels, funds, banks 3.1.3Loans 3.1.4Fundraising – as old as the world 3.1.5Crowdfunding 3.1.6Grants, donations 3.1.7„eternal“ truths
"Bad" money - "No strings attached" - "No free lunch" 3.2How to get the investment back – company valuation vs. how much dit it cost 3.3Reports 3.3.1Balance sheet 3.3.2Profit and loss statement 3.3.3Cash flow 3.3.4Annual report 3.4Specific items 3.4.1Personal costs 3.4.2Tangible assets 3.4.3Intangible assets
SW, IP, Goodwill 3.4.4Depreciation 3.4.5Inventory 3.4.6Work in progress 3.5Basic accounting concepts 3.5.1"Money conservation law" 3.5.2Direct vs. indirect costs video vs. Czech chart of accounts grant budget 3.6Tax system 3.6.1Tax domicile 3.6.2Income tax private, company 3.6.3VAT 3.6.4Property tax property tax, property transfer tax gift tax, inheritance tax 3.6.5Other taxes road tax 3.6.6Fees, duties and contributions broadcasting fees, copyright fees social and health insurance 3.7Financial risks 3.7.1Currency risks 3.7.2Cash flow 3.7.3Price change 3.7.4Legislative changes 3.7.5Revenue office 4Innovation 4.1Idea – research – development – manufacture 4.1.1Needs/Requirement analysis
Problem to solve 4.1.2Risk analysis
SWOT personal, financial, market, technology risks 4.2Value chain 4.3Intellectual property (IP) 4.3.1What that is 4.3.2How it is created 4.3.3Who owns 4.3.4Where you find it in the head, on paper, in the computer 4.3.5"Physical" protection computer safety, careful implementation of IT cloud storage - where: jurisdiction USA, EU, data protection upon transfer, GDPR
SW, SaaS – works only as long as I pay vs. „boxed“ = "lifelong" licence
Home and Hobby vs. Pro
Access management, Need-to-know, NDA with employees 4.3.6Legal protection patent, design patent, trade mark – Patent and trademark office
Copyright – automatic, can’t be forfeited
Copyleft licence – non-profit use only or also for commercial use
GNU licence 5Human resources and personnel management 5.1Process vs. project 5.2Line, project, and matrix management 5.3Project management 5.3.1Agile 5.3.2Critical path 5.4Coworkers, employees, HR companies 5.5Employee life cycle – situational management 5.6Team dynamics and team roles 5.7Company culture
Annotation
Annotation
Entrepreneurship (from the French “entreprendre”, i.e. “to undertake, to take the initiative“) is frequently reduced just to launching a business and running it. However, the entrepreneurial spirit – the willingness and capability to take initiative in whatever life department – is a key competence, which influences both the work and private life.
This lecture provides both an overview of the basic elements and a broader context of entrepreneurship in its true sense. The lecture builds upon interactive approach and group activities to exemplify all the various aspects of entrepreneurship, be it related to launching and running a company or a non-profit organisation, or just filing a grant application or organising a group of volunteers.
The knowledge gained will help the students to better communicate and cooperate with businesses, to prepare a grant application, or to commercialise the research results, both during their study and during their academic career.
The knowledge gained also helps the students to better understand the business environment should they be employed for a for-profit entity or should they wish to launch their own business or a non-profit.
Evaluation
The evaluation is based upon active participation during the entire term and successful presentation of a student project.
Form 6 blocs of lectures and practice, each consisting of 4 lessons, once in a fortnight. Presence and active participation in the lessons is expected due to the interactive form of work.
Comment
The lecture is in Czech, but at least a basic knowledge of English is needed to work with some study materials.