Objectives and competences
In this course students:
1. Enhance their theoretical knowledge in the field of rapidly growing companies, also referred to as gazelles or dynamic enterprises. This is a study of innovative and often high-technology companies, which are in implementing such business opportunities often confronted with many problems of rapid growth.
2. Gain the ability to apply their theoretical knowledge in practice while developing appropriate growth models, strategies, networks, managing with limited resources, cash planning, delegation and professionalizing the business as it grows, dealing with crises, while at the same time being careful to avoid stifling the entrepreneurial spirit as the organization becomes larger and more complex.
3. Acquire transferable/key skills while applying the business growth model into selected company and conceive original business growth model.
4. Make critical judgements based on a sound theoretical basics.
Content (Syllabus outline)
1. Understanding gazelles: Global trends, economic contribution of gazelles, definitions and criteria, impact on sustainable development, gazelle categorisation and methodology, government initiatives and sustainable contribution.
2. The phenomenon of corporate growth: Drivers of corporate growth, the concept of corporate growth, growth rates, causes of corporate growth.
3. Models of entrepreneurial growth: Linear growth theory, Accelerated growth model, S-curve growth model, Network spread and Metcalfe's law, Diffusion of innovation theory, Blue Ocean Strategy.
4. Growth challenges and leadership: leadership and management of growing companies, personal qualities of leaders, the dynamic entrepreneur as leader.
5. Developing a growth strategy: Market penetration, conducting a strategic review, scaling and growth strategies, expansion and development, diversification.
6. Financing for sustainable growth: Sources of finance, bank loans, ethical and sustainable finance, angel and venture finance, crowdfunding.
7. Talent management and organisational culture in a growing company: The meaning and definition of talent, the impact on the competitiveness of the company, the processes of attracting, developing and retaining talent, the importance of culture and the key elements of culture.
8. Corporate maturity, success and failure: Reasons for business failure, failure in large companies, corporate philanthropy.
9. The path to sustainable growth: The meaning of sustainable growth, strategies for sustainable growth, challenges and obstacles to achieving sustainability.
Learning and teaching methods
- lectures
- guest lectures
- case studies analysis and presentations
- active teamwork
- active individual work
- group discussions
- analyzing and planning growth of existing firm
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Students:
1. Acquire comprehensive specific knowledge in the field of understanding the importance and specialties of business growth.
2. Have a detailed knowledge of theories in the field of managing the key aspects of business growth.
3. Learn to recognise key concepts, legality and interconnections in the field of business growth models.
4. Develop the skills to interpret the gained results in the field of evaluation of potential financial projects which are essentiality connected with successful business growth.
5. Learn how to analyse and synthesise different approaches in dealing with growing pains.
6. Can pursue further analysis regarding business growth planning.
7. Can demonstrate awareness of wider social and environmental ethical issues in areas of implementing business growth strategies.
8. Can demonstrate a critical ethical dimension in their work.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills:
Students:
1. Understand and apply critical analysis and theory development and their usability in solving real professional problems, with minimum guidance.
2. Get the ability to search for and synthesize new information from the field of business growth in literature and praxis and to place them in appropriate professional frame.
3. Can select appropriate techniques for complex problem solving and are able to evaluate the reliability, validity and significance of results gained.
4. Can identify key aspects of problem from different viewpoints and are able to find solutions.
5. Can investigate contradictory information and reasons for this.
Key/Transferable skills:
Students:
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Upgrade the ability to work in pairs and groups.
5. Further develop their communication skills in an effective manner to communicate effectively and professionally.
6. Can identify key aspects of problem from different viewpoints and are able to find solutions.
7. Are efficient in self-evaluation.
8. Can select and manage information with minimal guidelines.
Practical skills:
Students:
1. Get practical experience in the field of dealing with business growth.
2. Can act autonomously with defined guidelines and certain level of supervision.
Readings
Obvezna študijska literature (Compulsory textbooks):
1. Burns, P. (2022). Entrepreneurship and Small Business; Start-up, Growth and Maturity. New York: Palgrave Macmillan Education, 5th edition.
2. Barringer, B.R. & Ireland, R.D. (2016). Entrepreneurship: Successfully Launching New Ventures. Pearson Education Limited, 5th edition.
3. Širec, K. (2024). Managing sustainable business growth. Maribor: Faculty of Economics and Business (in preparation).
Dodatna študijska literature (Additonal textbooks):
Izbrana poglavja in teme iz:
Global Entrepreneurship Monitor, zadnja izdaja, dostopno na spletnih straneh https://www.gemconsortium.org/
Izbrane študije primerov (Selected case studies).
Predpisani članki iz tujih revij (bodo vedno aktualizirani).(prescribed articles from international reviews)
Časopisi in revije (magazines and rewievs):
Finance, Podjetnik, Manager, Gazela-SLO
Additional information on implementation and assessment Type (examination, oral, coursework, project):
- coursework 10%
- seminar paper 30%
- written exam 60%
A passing grade of the written exam is a prerequisite for taking into account the 40% of the achieved grade from class participation and assignments.
