Provisional Module Information for Entrepreneurship & Innovation in Emerging Economies

Module Information for BSM980, 2017/8 - APPROVED

Module Title/Name: Entrepreneurship & Innovation in

Module Code: BSM980
Emerging Economies

School: Aston Business School Module Type: Standard Module

New Module? No Module Credits: 15

Module Management Information

Module Leader Name Susan Schwarz

Email Address s.schwarz@aston.ac.uk

Telephone Number Not Specified

Office 914 SW

Additional Module Tutor(s):

Bettina Becker. (Beckerb@Aston.Ac.Uk, SW1019)Susan Schwarz. (S.Schwarz@Aston.Ac.Uk, 914 Sw)

Programmes in which available:

Level Description:
MSc in International Business. MSc in Entrepreneurship and
Masters
International Business. MSc Business Economics & Finance.

Contributing School & Subject Groups (and %): Credit Value & ECTS Credits:
none 7.5

Available to Exchange Students?

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Module Dependencies

Pre-requisites: Co-requisites:
None Specified None Specified

Prohibited Combinations:
None Specified

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Provisional Module Information for Entrepreneurship & Innovation in Emerging Economies

Module Learning Information

Module Aims:
The aim of this module is to provide students with an understanding of the processes of new business creation and innovation in
emerging economy settings, from managerial as well as economic and policy perspectives. The importance of emerging market
economies is steadily growing and illustrated by the fact that they accounted for half of the world GDP in 2013 (The Economist). The
focus of this module is on entrepreneurial and innovative activities by new enterprises and also established businesses, which contribute
to the success of emerging economies. The topics to be covered will include: (a) the theoretical concepts for understanding
entrepreneurship and innovation in emerging and developing economies (networks and social capital, resource -based view, and
institutional theories); (b) entrepreneurship at the bottom-of-the pyramid; (c) entrepreneurial strategies to overcome resource constraints
and dysfunctional institutions; (d) distinctive emerging economy innovation strategies, including frugal or constraint-based
innovation; and (e) access to finance including microfinance. The module will use examples and smaller case studies of emerging
economy entrepreneurship.

Module Learning Outcomes:

Students should develop: (a) the ability to apply relevant economic and management principles, concepts and tools to the analysis of
issues faced by new businesses related to emerging market environments, and (b) an understanding of the implications of the emerging
market environment for business creation, start-up and innovation. By the end of this module, students should be able to: 1) assess the
implications of the diverse economic institutional environment for new business creation and innovation in emerging markets; 2) assess,
in broad terms, implications of economic policies and institutional change, as well as change in technology and in the global
economic environment for the creation of new enterprises in the emerging market economies; 3) discuss, in broad terms, strategic
options available to owner-managers of new businesses in an emerging economy environment.

Indicative Module Content:

Emerging economies are characterized by increasing market orientation and improvement in their institutional frameworks, 
technology and infrastructure. The module investigates entrepreneurial dynamism and implications in these economies including East
Asia, Eastern Europe, and Latin America. Weekly content includes:

Entrepreneurship in developed economies versus emerging markets, and overview of module and assignments.

Formal institutions and emerging market entrepreneurship, rule of law, regulation and institutional voids.

Informal institutions and emerging market entrepreneurship, cultural values, norms and social capital.

Emerging market entrepreneurship from a resource perspective and strategies to overcome resource constraints.

Emerging market entrepreneurship and access to finance, informal sources of finance, emerging stock markets, global financial markets
and microfinance.

Innovation in emerging markets vs. developed economies, intellectual property rights, drivers of innovation including resource
constraints.

Base of the pyramid (BOP) markets as customers as well as BOPs as a source of entrepreneurship.

Notes on internationaliation and returnee entrepreneurship

Module review and drop-in clinic for feedback on venture ideas

International Dimensions:
The lectures will use examples of entrepreneurs and businesses from a range of emerging market economies including those in South
East Asia, Central and Eastern Europe, Latin America and Africa.

Corporate Connections:
The lectures will draw on examples and cases reported in academic literature, and experiences of emerging markets. It uses case

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Provisional Module Information for Entrepreneurship & Innovation in Emerging Economies

studies to bring corporate and entrepreneurial experiences to life. In addition, as part of their assessment, students are expected to
utilize firm, sector and/or country-wide data to characterize aspects of the economic business-environment in emerging markets, as well
as craft their own business plan.

Ethical Approval:
This module does not require any primary research and no ethical approval will be necessary. Students will only use publicly accessible
databases.

Links to Research:
The module content draws on the past and present research in the Economics, Finance and Entrepreneurship Group including research
on the impact of formal and informal institutions on entrepreneurs’ strategic decisions.
For assignment 1, students will undertake independent research, utilizing available country-level data from a range of sources to profile
and “diagnose” how supportive of entrepreneurship the institutions in a particular emerging market economy are. For assignment 2,
students undertake independent research to craft their business plan.

Ethics, Social Responsibility and Sustainability:

The module focuses on the issues of governance, seen in the context of uncertainty and risk, where uncertainty is introduced not only by
environmental factors but also by opportunistic behavior of economic agents, e.g., relating to institutions and corruption. It also refers to
organisations and frameworks that affect business, and encourages reflection on the ethical choices of entrepreneurs. The module also
covers Base of the Pyramid markets and highlights aspects of doing business in these markets in a sustainable and responsible manner.
Further, several examples and case studies used in the module include cases on social innovation and social entrepreneurship.
 

Module Delivery

Methods of Delivery & Learning Hours (by each method):

Method of Delivery Learning Hours

Lecture: 15 hours

Tutorial: 12 hours

Project: 48 hours

Independent Study: 75 hours

Total Learning Hours: 150 hours

Learning & Teaching Rationale:

The module will use a number of research papers. The lectures provide the analytical framework, and integrate the required reading into
this framework. The lectures also draw on industry and country experiences, as appropriate. Each 3 hour session contains a mix of
active in-class exercises, tutorial and actual lecturing, facilitating student contribution to the discussion in class throughout as well as
making use of various kinds of group work. Assimilation of different viewpoints and critical analysis is encouraged throughout. Students
are expected to engage actively in class discussions and in-class exercises throughout the semester.

Module Assessment

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Provisional Module Information for Entrepreneurship & Innovation in Emerging Economies

Methods of Assessment & associated weighting (including approaches to formative assessment as well as summative):

Common
Duration/ Modules/
Assessment Week Assessment
Category Submission Exempt from
Type Number Weight
Date Anonymous
Marking

Individual
Essay 09/Feb/2018 No - 50%
Assignment

Assignment 1: Entrepreneurship Profile Of Emerging Economy: Individual essay in

which students profile one emerging market economy of their choice in terms of
Details entrepreneurship environment, including institutions, resources, culture, and
economy, using data sources and theories discussed during weeks 1-4. Essay
max. 2000 words, 12 pt font, 1.5 line spacing.

Individual
Essay 16/Mar/2018 No - 50%
Assignment

Assignment 2: Venture Idea: Individual essay in which students describe their idea
as a short business plan directed at a potential investor, including business model,
value creation and capture, customers, markets, financing and other resources, for
Details
a business venture, social venture or innovation in the public, private or third
(NGO) sector, applying concepts discussed in class, especially weeks 5-8.
Essay
max. 2000 words plus 200 word self-reflection, 12 pt font, 1.5 line spacing.

Total: 100%

Method of Submission:
Electronic Copy Only

Assessment Rationale:
The module contains two pieces of assessment as outlined above. They each test different learning goals (as outlined above). Both
assessments require students to apply knowledge obtained in class and through independent further reading. The first assessment is a
type of country report diagnosing the entrepreneurship-supportiveness of that country's institutions as well as the level and type of
entrepreneurship found in that country. In individual essays, students will need to draw on theoretical frameworks in class to discuss the
findings of their research. Thus this assignment is similar to a country-profile as compiled by international associations such as the World
Bank.

The second assignment is an individual business plan for an emerging market business and targeted at a potential investor. This
assignment requires application of knowledge obtained through the first assignment as well as through the further teaching sessions to
argue the case for the viability and novelty of the planned business. To account for student preferences both assignments allow students
to choose a specific market economy. The second assignment also allows choice with regard to the type of business pursued
(commercial or social, non-profit). Students can also present a case for an innovation in the context of an established business
(corporate entrepreneurship idea).

Feedback Rationale:
A range of feedback opportunities will be available to students including in-class feedback and coursework clinics, through blackboard
discussion group, and at individual’s request (during office hours).

Module Teaching Frequency, Room & AV Requests

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Provisional Module Information for Entrepreneurship & Innovation in Emerging Economies

Room & AV Requirements:

Teaching Frequency: Specialist Software in IT Labs:
No Room Requirements Specified
None Specified None Specified
No AV Requirements Specified

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