3706600: C12_Venture Strategy Simulation

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Semester:SS 14
Lektionen / Semester:60.0 L / 45.0 h
Selbststudium:135.0 h



Bachelorstudiengang Betriebswirtschaftslehre (01.09.2012)


This module is designed as a capstone course, thereby linking diverse aspects of Business Administration and Management, particularly in the intersection of Strategic Management and Entrepreneurship, such as the field of new venture strategy, global competition, and rapidly changing environments. In addition the implications on strategy formation, implementation, and execution are considered, thereby covering both competitive and cooperative strategies. That is, firms as well as alliances, business groups, and interfirm networks - are considered.
Students learn and practice how to analyze a strategic situation in an entrepreneurial context, how to identify and choose a superior competitive position, and finally how to create the organizational context to make the chosen strategy work.
In the module we are concerned not only with the understanding and application of concepts, but also with the development of critical thinking skills as well as systems thinking. Thus, whenever possible we will attempt to identify 1) the potential for application and/or 2) the actual application of the concepts with respect to strategy and entrepreneurship. This will provide insight regarding how to fine tune a strategy program in order to effectively run an organization.

The objectives of this course are:

  • to explore conceptual frameworks and models which will assist students to analyze competitive situations as well as strategic dilemmas and gain insight into the intersection between strategy and entrepreneurship,
  • to reflect on diverse (conceptual and philosophical) approaches to strategy and to identify differences in impact,
  • to help students acquire experience in dealing with strategic issues,
  • to analyze and interpret information and act accordingly upon this information,
  • to understand strategic problems and challenges in starting an innovative new venture and to understand the perils of pre-configuring a large, complicated, novel firm infrastructure,
  • to work effectively and efficiently in teams,
  • to continuously take decisions under time pressure, under high levels of uncertainty, and within partially unknown competition,
  • to learn to deal with unexpected feedback from the (virtual) market and business environment and to react upon those in a timely manner.

The students' command of the relevant underlying theories and concepts and the development of critical thinking skills are facilitated in the context of
1) class discussion/activities and
2) the venture strategy simulation game.

Class discussions / activities are aimed at:
1) further explaining material,
2) providing examples of concepts, and/or
3) providing new perspectives to reflect the approaches taken
4) fostering the students in defining the information they need from Consultants and Support they need from Coaches.

The management simulation provides students with the opportunity to test their management knowledge in teams across a broad spectrum of areas. It also forces students in their on-going decision making on strategy, marketing, manufacturing, accounting, business partner negotiations, profitability analysis and others.


    • Name and explain relevant connections of different aspects of Strategic Management, Entrepreneurship and Organization.
    • Understand the most important influencing factors for taking strategic and entrepreneurial decisions in newly founded enterprises.
    • Understand the interrelations between a variety of factors and describe how the interrelatedness effects the business.
    • Visualize and describe the interconnections of influencing factors
    • Apply the instruments of Strategic Management and Entrepreneurship correctly in different contexts.
    • Apply theoretical knowledge and conceptual framework for the development of own entrepreneurial strategies as well as for the design of organizations.
    • Identify the constitutive influencing factors on entrepreneurial behavior and endeavors during enterprise start-up and growth.
    • Analyze and compare alternative models and approaches of Strategic Management and Entrepreneurship, identify similarities and differences.
    • Develop appropriate entrepreneurial strategies according to the respective firm type and environment.
    • Derive actions on the basis of the analysis of critical factors in the start-up phase to secure long-term company success.
    • Evaluate entrepreneurial strategies and their applicability in different market situations and make decisions on strategy-making and corresponding instruments.
    • Describe the fundamental aspects of Strategic Management and Entrepreneurship with regards to start-up and growth situations.
    • Demonstrate possibilities of how to initiate strategic models in the start-up phase depending on the context.
    • Define and interpret the prerequisites of entrepreneurial strategies.
    • Apply fundamental models of Strategic Management and Entrepreneurship towards new situations/contexts in the start-up and growth phase of companies.
    • Recognize critical situations during the start-up phase and react upon them under time pressure.
    • Differentiate important from unimportant information under time pressure .
    • Analyze their need for specific information and make best use of the possibility to interview experts for answers.
    • Determine different strategies and approaches and evaluate their impact for a given situation.
    • Judge if certain models resp. approaches of Strategic Management and Entrepreneurship are applicable in concrete situations and choose the most appropriate ones.
    • Evaluate the long-term impact of (strategic) decisions and visualize the interconnections of variables.
    • Perceive and prescind thoughts and arguments from fellow students during class discussions.
    • Tolerate differing mindsets or solutions.
    • Work jointly in groups on the solution of case studies.
    • Recognize problems in other groups and show adequate reaction.
    • Evaluate the results of fellow students compared to their own results.
    • Take over responsibility for the learning of the group.
    • Consider new or alternative methods of resolutions, e.g. such applied by peers, and interrelate those to their own.
    • Represent and defend their own solution against those of other groups/teams.
    • Pay attention to factors causing distress to them and observe the impact on their behavior and decision making
    • Learn to communicate openly within their group and within the large audience
    • Develop a mindset of proactivity, curiosity and reflection ability.
    • Take responsibility for own independent learning outcomes.
    • Judge and justify the own learning progress.
    • Evaluate and argue their individual potential for development.
    • Formulate ways to achieve the own learning targets and align measures to reach those according to own potentials.
    • Reflect decisions and judgments within their team
    • Reflect taken actions and the impacts on other individuals.


  • The backbone of the course is the simulation Marketplace Live (http://www.marketplace-live.com/simulations/venture-strategy.php). - The licence fee for each student is USD 50,-
  • In addition there will be sessions with "consultants" and "coaches". It is the students duty to make best use of this "external" resources.

Voraussetzungen (inhaltlich)

Introduction to Management

  • Introduction to Management (Lecture), Marketing (Lecture)
Management and Organization
  • Organization theories and concepts
  • Leadership theories and models
  • Causal loop diagrams
Strategy and Change Strategic target-setting and implementation
  • Strategy process
  • Environmental analyses
  • Company analyses
  • Case Study method

Voraussetzungen (formal)

Voraussetzung für die Anmeldung zum Modul:
Erfolgreicher Abschluss von English I