COURSE PM

TEK455/MED996

KNOWLEDGE-BASED BUSINESS DEVELOPMENT AND MANAGEMENT

7,5 higher education credits

Examiner: Ulf Petrusson

Formal information

Bowman Heiden, Course Manager (bowman.heiden@gu.se)

Christoffer Hermansson, Course Manager (christoffer.hermansson@gu.se)

Anna Holmberg, Course Administration (anna.holmberg.borkmann@gu.se)

 

Purpose

The purpose of this course is to give students both theoretical and practical capabilities in the development and management of knowledge-based business as a distinct form of business with its own unique competitive strategies and sources of competitive advantage based on distinctively different resources, capabilities, value propositions, business models, market positioning, value networks, and organizational behavior as compared to traditional, industrial-based business.

 

Organization

The course is built around a simulated company environment based on role-play pedagogy, connected to a lab. The lab is based on a number of different simulations of various length and complexity, in which the students solve practical problems. Combined with the simulations, there are a number of related lectures. These will serve as the theoretical foundation, together with the literature, that is needed in order to accomplish excellent results throughout the simulations.

 

Learning outcomes

Chalmers (TEK455)		University of Gothenburg (MED996)
Learning outcomes (after completion of the course the student should be able to):   1.     Demonstrate knowledge of the key differences in the sources of competitive advantage between and industrial and a knowledge-based business perspective 2.     Demonstrate knowledge of the key differences between a material and intellectual value chain and related business models 3.     Demonstrate knowledge of the structure of a technology market in comparison to a product market 4.     Demonstrate the ability to analyze the sources of competitive advantage for a knowledge-based business in relation to business goals 5.     Demonstrate the ability to design business visions and strategies to develop knowledge-based ventures, innovations and markets 6.     Demonstrate the ability to analyze and develop business models and value propositions in relation to the interface of technology and product markets 7.     Demonstrate the ability to analyze and develop strategies for managing knowledge workers and processes, including R&D management, incentive structures, firm culture, etc. 8.     Demonstrate an ability to apply different frameworks for financial valuation of technology ventures (e.g. income, market, and real-option methods). 9.     Demonstrate the ability to prioritize, analyze, synthesize, and communicate key business information in different business contexts under high levels of time pressure and uncertainty 10.  Demonstrate ability to develop ethically responsible and sustainable strategies for conducting knowledge-based business from a holistic perspective.		After completing the course the students will be able to:               Knowledge and understanding -        Demonstrate in-depth knowledge and understanding of the role of intellectual assets in knowledge-based recovery processes based on strategy and vision. -        Explain and critically discuss relevant theoretical and practical frameworks as well models for establishing, organizing and managing knowledge-based operations. -        Give examples of how knowledge-based businesses affect and drive transformation processes in the interface between industrial and knowledge-based business creation. Competence and skills -        Establish and develop competitive business strategies tailored for an intellectual value chain. -        Establish and implement value- and business goals and strategies for knowledge based start-up companies, innovations and markets. -        Design and organize business activities for bio based start-up companies with a focus on knowledge- and technology development. Judgement and approach -        Evaluate how intellectual assets, property and capital together affect and forms the basis for value creation in a knowledge-based economy. -        Evaluate moral and ethical aspects in the implementation of bio based innovation processes and bio based business creation with a focus on sustainability.

Examination

The students are graded on their performance in managing the business challenges that occur as well as specific deliverables to company stakeholders in the simulation connected to assignments individually and in groups, in the form of written hand-ins and oral presentations. Active participation in the simulation is mandatory.

Examination Activity	Grade	Group/Individual
Assignments, Q1	1-50	30p Group 20p Individual
Assignments, Q2	1-40	20p Group 20p Individual
Assignments, Q3	1-30	30p Group

The students are examined by individual and group assignments in written and oral form through presentations and written reports.

A student has the right to request a change of examiner if failed twice on the same exam if this is practically possible. Such a request should be put forward in writing and addressed to the department.

 

Seminars

The seminars are given by individuals from Chalmers University of Technology, University of Gothenburg, and guest lecturers with theoretical knowledge and practical experience within knowledge-based business development and management.

Attendance at the seminars is highly recommended, as most of the seminars will cover material that is not found in the course literature and will be needed to accomplish the assignments. Active participation by the students is critical to the learning experience.

 

Group Assignments

The group assignments will be presented and completed in connection to the business simulation. The assignments will be graded based on the group’s analytical and communicative capabilities in relation to the specific business context.

• Q1: 20p – Specified report (6 pages + Appendix)
• Q1: 10p – Unspecified report (3 pages + Appendix)
• Q2: 20p – Specified report (6 pages + Appendix)
• Q3: 15p – Specified report (3 pages + Appendix)
• Q3: 15p – Presentation (10 ppt slides + Appendix)

 

Individual Assignments

The individual assignments will be presented and completed in connection to the business simulation. The assignments will be graded based on the group’s analytical and communicative capabilities in relation to the specific business context.

•       20p – Specified report (Individual: 3 pages + Appendix)

•       20p – Specified report (Individual: 3 pages + Appendix)

 

Grades

The grading scale for the Chalmers course TEK455 is as follows:

0-39%% = U/F

40-59%% = 3

60-79%=4

80%> = 5

To receive a grade, the student must pass all the examination parts of the course.

The grading scale for the GU course MED996 is as follows:

0-49,5%% = U/F

50-74,5%% = G

75%> = VG

To receive a grade, the student must pass all the examination parts of the course.

 

Literature

1. BCG (2015), Crop Farming 2030: Reinvention of the Sector
2. Graff et al. (2003), The Public-Private Structure of Intellectual Property Ownership in Agricultural Biotechnology, Nature Biotechnology, 21, 9, 989, 995.
3. Chi-Ham et al. (2010), The intellectual Property Landscape for Gene Suppression Technologies in Plants, Nature Biotechnology, 28, 1, 32-36
4. Grant, Robert (2013), Contemporary Strategy Analysis, Wiley
5. Moore, Geoffrey (2013), Crossing the Chasm, Collins
6. Christensen, Clayton (2011), The Innovator’s Dilemma, Harper
7. Kotter, John (1995), “Leading Change: Why Transformation Efforts Fail”, Harvard Business Review, Mar/Apr 1995, Vol. 73 Issue 2, p59-67
8. Hoffman, Reid; Casnocha, Ben; Yeh, Chris (2013), “Tours of Duty: The New Employer-Employee Compact”, Harvard Business Review, Jun 2013, Vol. 91 Issue 6, p48-58.
9. Dixit, A. and Pindyck, R. (1995), “The Options Approach to Capital Investments”, Harvard Business 
Review, May-June, 1995
10. Timothy A. Luehrman (1998), “Investment opportunities as real options: getting started on the numbers”, Harvard Business Review, July-Aug 1998
11. Pharmacyclics: Financing Research and Development (HBS: 9-201-056) Available at www.hbr.org (Product # 201056)
12. Method for Valuing High-Risk, Long-Term Investments: The "Venture Capital Method" (HBS: 9-288-006) Available at www.hbr.org (Product # 288006)
13. Osterwalder, A., Peigner, Y. (2010), Business Model Generation – A Handbook for Visionaries, Game Changers, and Challengers
14. Berman, K., Knight, J. and Case, J. (2006), Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
15. Drahos, Peter (1999), “Biotechnology Patents, Markets and Morality”. European 
Intellectual Property Review, 21(9), pp. 441-449

 

 Schedule

Date	Time	Topic	Room	Lecturer	Literature
23/03	15-16	Introduction to Knowledge-Based Business Development and Management	Zoom	BH/CH/KM/AHB	Everything you’ve read until now
	16-17	Introduction to AgroSciences	Zoom	BH	1, 2, 3
	17:00	Simulation: Q1 begins	Moodle
26/03	15-17	Knowledge-Based Business and Competitive Advantage	Zoom	BH	4, 5, 6
27/03	15-17	Managing the Intellectual Value Chain –Visions, Strategies, and Capabilities	Zoom	BH
30/03	13-17	Role-play	Online
02/04	08-12	Role-play	Online
03/04	15-17	Role-play	Online
16/04	08-12	Role-play	Online
17/04	16-17	Q1 Pre-Feedback	Zoom	BH/CH
20/04	13-17 17:00	Role-play Q1 Hand-in	Online Moodle
23/04	12:00	Hand-in: Website 2.0	Moodle
	15-18	Q1 Board Meeting (Gr 1-5)	Zoom	Board
24/04	08:00	Simulation Q2 begins	Moodle
	15-18	Q1 Board Meeting (Gr 5-10)	Zoom	Board
27/04	15-17	Business Modelling: From an Industrial to an Intellectual Value Chain	Zoom	BH
	17-18	Business Models in AgroSciences	Zoom	BH	1
04/05	13-17	Role-play	Online
07/05	08-12	Role-play	Online
08/05	15-17	Role-play	Online
11/05	13-17	Role-play	Online
13/05	12:00	Q2 Hand-in	Moodle
14/05	15-18	Q2 Board Meeting	Zoom	Board
15/05	15-18	Q2 Board Meeting	Zoom	Board
18/05	08:00	Q3 Simulation begins	Moodle
	15-16	Valuation of High-Risk Projects	Zoom	BH	11,12,14
	16-18	Investment Opportunities as Real Options	Zoom	BH	9,10
22/05	08-12	Role-play	Online
25/05	15-17	Rhetoric and Pitching	Zoom	BH
28/05	17:00	Q3 Hand-in	Moodle
29/05	15-18	Q3 Board Meeting	Zoom	Board
05/06	16-17	Award Ceremony	Zoom	All

Faculty

BH	Bowman Heiden	GU/Chalmers
CH	Christoffer Hermansson	GU/Chalmers
AHB	Anna Holmberg Borkmann	GU/Chalmers
ME	Magnus Eriksson	GU
UP	Ulf Petrusson	GU/Chalmers
KM	Karl Maack	GU

 

Course evaluation

The course will be evaluated upon completion. The results of the evaluation will be communicated to the students and will function as a guide for the development of the course.

Contact

Please post all the course-related questions on the course’s page on Canvas or contact Anna Holmberg Borkmann (anna.holmberg.borkmann@gu.se)