International Entrepreneurship
Discovering Entrepreneurial Thinking: The IST University for Applied Sciences’ “International Entrepreneurship” Course
The IST University for Applied Sciences takes education to the next level with its dynamic and innovative curriculum. One of the standout offerings is the “International Entrepreneurship” elective module, a compelling course that provides students with hands-on experience in the world of global markets. Created in 2018 this course can be elected by students from IST’s partner universities in Brazil, Malta, Peru, Tanzania, Thailand, Turkey and IST’s home country Germany.
The module lasts a semester and contains two basic projects that every student will go through: the business simulation and the online company (start-up) project.
Business Simulation
At the heart of the “International Entrepreneurship” module stands a captivating eight-round business simulation. This immersive experience allows students to step into the shoes of entrepreneurs navigating the complexities of international markets. The simulation replicates real-world scenarios, presenting challenges and opportunities that demand strategic thinking and decision-making. From market entry strategies to supply chain management, students are tasked with making critical business decisions and witnessing the consequences in a risk-free environment. This simulation not only sharpens their business acumen but also fosters teamwork and communication skills.
Online Company Project
In conjunction with the business simulation, the “International Entrepreneurship” course introduces an engaging Online Company Project, focusing on guiding students through the inception and establishment of a startup. In this hands-on initiative, students form virtual teams and embark on a transformative journey, translating an initial idea into the practicalities of founding a new business. From concept to creation, students actively participate in every stage of the startup process, gaining valuable insights into entrepreneurship within a controlled and supportive environment. This focused project not only provides a realistic glimpse into the challenges of entrepreneurial endeavors but also equips students with the foundational skills required to bring innovative ideas to life.
Learning Outcomes
The “International Entrepreneurship” module is designed to achieve specific learning outcomes that prepare students for the dynamic world of international business. By the end of the module, students can expect to:
- Develop a comprehensive understanding of global markets and the challenges associated with international entrepreneurship.
- Enhance critical thinking and decision-making skills through active participation in the business simulation.
- Acquire practical experience in multi-national teams, creating, managing, and adapting businesses.
- Foster effective teamwork and communication skills through collaboration with fellow students in both the simulation and the online company project.
Language Proficiency
While proficiency in English at approximately a B2 level is recommended for effective engagement in the “International Entrepreneurship” module, no formal language certification is required. Nevertheless basic English conversation needs to be possible at all times.
Requirements to Pass
The culmination of this course is marked by a final report of approximately 10 pages. This report not only serves as a recapitulation of experiences during the business simulation but also demands a thorough defense of the decisions made within the business simulation scenarios. Furthermore, group work constitutesa significant portion of the assessment. Collaboratively, students develop a comprehensive business plan for the startup established in the Online Company Project. As the pinnacle of the project, teams are challenged to present their business idea in a compelling marketing video.
ECTS Credit Points
Upon successful completion of these assessments, students will be awarded 15 ECTS credit points, acknowledging their proficiency in navigating the intricacies of international entrepreneurship and demonstrating a mastery of both theoretical knowledge and practical application.
Explore the course International Entrepreneurship by downloading our brochure here.
If you have any questions, please do not hesitate to contact
Prof. Dr. Thomas Merz
Dean Business Administration
tmerz@ist-hochschule.de
Tel.: +49 211 86668 251
Daniel R. Schmidt
Lecturer “International Entrepreneurship“
daniel.schmidt@dozent.ist-hochschule.de
