Vienna Holds Entrepreneurship & Small Business Management Course

| July 18, 2014
The Entrepreneurship and Small Business Management  class was divided into five groups, and assigned to come up with Business Model for a specific idea.

The Entrepreneurship and Small Business Management class was divided into five groups, and assigned to come up with a business model for a specific idea.

In one of the last events at Webster Vienna’s location on Berchtoldgasse, the Entrepreneurship and Small Business Management course concluded with its final visiting speaker, Daniel Cronin from Austrian Startups.

Over the term — which had 14 students including one person auditing online through Canvas — several visiting speakers brought their expertise from the entrpreneurship field.

The class was assigned to come up with a business model for a specific idea. The business model modules covered topics such as value proposition, customer segmentation, revenue streams, cost structure, channels, customer relationship, key resources, key partnerships and key activities.

Course Objective
Daniel Cronin from Austrian Startups presented to the class.

Daniel Cronin from Austrian Startups presented to the class.

The objective of the course was to put gather in a structured format the knowledge gained by attending various management classes at Webster. The work was done in five small groups. Ideas were organized in a systematic manner so as end product the groups were ready to create a viable business plan. Many of the ideas were so advanced that they can also be accepted in professional business development program.

Speakers

To network and to create awareness of the initiatives taking place in the local ecosystem, several key speakers were invited, including:

  • Barret Baebler, Webster University head of Entrepreneurship;
  • Martin Moessmer, founder Feels Like Home;
  • Georg Fuhringer, director EU Erasmus program for young entrepreneurs; Peter Sommerer, Business Angel;
  • Rudolf Dömötör, director of ECNetwork, inter-university entrepreneurship forum;
  • Gregor Posch, university coordinator for Vienna Business Agency;
  • Daniel Cronin, co-founder of Austrian Startups and voice of entrepreneurship initiatives in Austria;
  • Irene Fialka, head of Inits, a university incubator.

Students were also required to watch the hit series Dragons Den as homework and were required to do short pitches. The course was structured that each of the Canvas modules were developed and presented as group project at end of term.

Course Successes

The outcomes from this course included:

  • One group is in talks with EU Erasmus program and, if accepted, will spend between one to three months with an entrepreneur in a European country (travel and training costs will be undertaken by EU).
  • A member of another group is traveling to the United States to better understand the business model, as he wants to introduce the product into Vienna Market.
  • The remaining three concepts also excited faculty, and students may take steps to develop them further.

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Category: International & U.S. Campuses

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