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CS34A0401 Strategic Entrepreneurship in an Age of Uncertainty, 6 cr 
Code CS34A0401  Validity 01.08.2016 - 31.07.2019
Name Strategic Entrepreneurship in an Age of Uncertainty  Abbreviation Strategic Entre 
Credits6 cr   
TypeBasic studies  
  Grading scaleStudy modules 0-5,P/F 
  Eligibility for post-graduate studiesYes
    Allowed to study several timesno
Organisation LUT School of Engineering Science 

Ekaterina Albats 
Justyna Dabrowska 
Marko Torkkeli 

Description by Study Guide

M.Sc. (Tech.) 1



Teaching Language 


Teacher(s) in Charge 

Professor, D.Sc. (Tech.) Marko Torkkeli


Managing in a knowledge-based economy, Managing by Core Competences, Knowledge intensive firms, Uncertainty. Are they the latest buzz words or another passing managerial fad? Old wine in new bottles? Or perhaps, just perhaps, fundamental means of survival and success for modern day corporations? Given the amount of effort that has been devoted to the topic by both academics and practitioners, it appears worth taking a deep and dispassionate look at the role of entrepreneurial thinking in sustained competitive advantage. The goal is to learn as you go and effectively convert assumptions to knowledge at a low cost.
By the end of the course, students will be able to identify business opportunities and analyze them using different tools of uncertainty management. Students will be able to understand the main components of different pitches and be able to design and present a pitch.


During the course students learn to develop and test a business idea following the feasibility analysis, discovery driven planning steps as well as using the uncertainty management tools of Attribute Mapping, Supply Chain Analysis, Differentiation, Quizzing and Market-Busters. The course does not teach business plan writing but rather focuses on opportunity recognition and feasibility assessment. Moreover, it adds the elements of lean startup as well as social entrepreneurship as possible avenues in dealing with entrepreneurial challenges.

Entrepreneurial thinking, uncertainty management, strategic entrepreneurship, discovery-driven planning.

Teaching Methods 

Lectures 20 h, Independent study 73 h, seminar work writing 63 h, Total 156 h.

Suitability for doctoral studies (Yes/Leave empty) 


Examination in Examination schedule (Yes/No) 


Examination in Moodle (Yes/No) 


Examination in Exam (Yes/No) 


Assessment scale and assessment methods 

0 - 5. Based on assignment and in-class work, participation in the lectures required (possibility to substitute absence with literary work).

Course Materials 

Lectures and additional reading provided in the class. Book: McGrath Rita and MacMillan Ian, (2000). The Entrepreneurial Mindset. Harvard Business School Press.; McGrath Rita and MacMillan Ian, (2005). MarketBusters: 40 strategic moves that drive exceptional business growth. Harvard Business Press.

Limitation for students? (Yes, number, priorities/Leave empty) 

60, priority for GMIT students and others to whom this course is part of the major.

Places for exchange-students? (Yes, number/No) 

Yes, max 15

Places for Open University Students?(Yes, number/No) 

This course has 1-5 places for open university students. More information on the web site for open university instructions.


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