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From Ideation to Feasible Business

From Ideation to Feasible Business

Code: WOR2RZ001
Scope: 5 ECTS (125 hrs)
Timing: Semester 1
Language: English
Level: Professional studies
Type: Compulsory

Learning objectives
Upon completion of the course, the student is able to

•    apply practical knowledge of issues related to establishing a business in Finland
•    understand characteristics of an entrepreneur, as well as to make him to consider entrepreneurship as a potential career option
•    understand the effectiveness and key figures of the hotel, restaurant and tourism industry and be able to put them into practical use
•    know hospitality industry related legislation and its practical implementation
•    identify potential customers and segments, understand and anticipate customer expectations and needs

Contents
•    The characteristics of an entrepreneur and intrapreneur
•    Analysis of Finnish business environment, emphasis on hospitality entrepreneurship
•    Introduction to forms of business in Finland
•    Process of founding a business
•    Making a business plan/business model
•    Permits/legal issues/investment
•    Pitching own business idea
•    Business model canvas and its components

Starting level  and linkage with other courses
No previous studies needed and no binding connections to other courses.

Assessment
The course is evaluated on a scale excellent (5), very good (4), good (3), satisfactory (2), fair (1), fail (0). The assessment criteria is presented on a scale 1 - 3 - 5.

Grade 1
The student’s understanding of entrepreneurship key concepts is limited. Student’s level of skill in developing and in establishing a business, is below average. Her’s/his’ knowledge about the basic theoretical frameworks and business model is below average. Student’s attitude towards learning through participation in teamwork and conducting assignments, is below average. Her/his capability to analyze organizational practices that facilitate different types of businesses is limited.

Grade 3
The student has good entrepreneurial skills and understands components of establishing own business.
S/he has a good knowledge of the basic theoretical frameworks and business model which is necessary in business set up. S/he has a good attitude towards learning through participation in teamwork and conducting assignments. S/he has a good self-  and group critical thinking. S/he can objectively measure the success of business.

Grade 5
The student has excellent entrepreneurial skills in developing and in establishing both an innovative and viable business. S/he has excellent knowledge about the theoretical frameworks, business models and its application in practice. S/he has an excellent attitude towards learning through self-initiative and continuous and supportive participation in teamwork and in conducting assignments. S/he has an excellent measurements skills and analyses of business success.

Working life connections
This course involves a project work commissioned by an external company.

Internationality
The main project is made from the cross-cultural company’s point of view. Multicultural work environment will be discussed in the project. In the report the international customer angle will be considered.

Learning methods
Lectures, interactive class discussions, exercises, project work, self-directed learning, presentations and field research. In the integrated assignment, student groups will make a business plan that would be suitable for the business environment, markets and business operations. It is highly recommended that the student actively uses the knowledge gained from different courses in the assignments.

a) Classroom learning
b) Distant learning

Self and peer assessment.

Assessing one’s own learning is a compulsory part of the course.

Teachers responsible
Pekka Lampi, Haaga
Violeta Salonen, Haaga