TUMentrepreneurship Education Courses

The course is divided in three parts: First, different aspects of entrepreneurship, i.e. founding and managing an entrepreneurial company, are discussed. The entrepreneurial process and characteristics of successful entrepreneurs are analyzed. Special attention is put on sources of financing which are relevant in different development stages. This part also provides a broad overview of the private equity industry including both early stage venture capital funds and buyout funds.

Second, the course focuses on valuation of entrepreneurial ventures. The specific requirements for the valuation of entrepreneurial firms are identified. Standard valuation methods are then analyzed as to their applicability in different contexts. Valuation methods include the discounted cash flow approach, multiple approach and real option valuation. In addition, context-specific approaches to new venture valuation are considered. Factors influencing the negotiation process between an entrepreneur and an equity investor will be discussed and analyzed.

Third, the business model of private equity firms and the relationship between an equity investor and an entrepreneurial firm are analyzed in more detail. Based on a general understanding of the private equity industry, the refinancing and investment process of a private equity firm will be discussed intensively. The refinancing process is divided into three parts: fundraising, investor relations and the return of funds. The investment process mainly covers the following activities of a private equity firm: sourcing, screening, contracting, venture management and exiting. Special attention is given to both early stage venture capital funds and later stage buyout funds as different types of private equity.

The module deals with the opportunities and limitations of debt financing for entrepreneurial companies, from start-ups to established companies. For this purpose, after an overview of theoretical foundations of debt financing, the different instruments of debt financing, as well as debt-like instruments and hybrid instruments combining elements of both, debt and equity capital, are introduced and discussed. Their functions within an optimal financial strategy in the company are outlined. Reflections on the capital structure of companies, on the structure and functioning of international markets for debt capital and how companies can position themselves to access these markets are made. An introduction to financial statement analysis and forecasting and their role in determining the optimal capital structure of a company forms also part of the course. The final grade will be composed of a case assignment (40%) and a final exam (60%).

The lecture Organizational Psychology covers basic principles of organizational behavior and its management. The topics include leadership, decision making, communication, motivation, organizational culture, normative values and ethics, conflict, negotiation, and the management of groups and teams. After completion of the course, participants will be able to understand and apply the principles of organizational behavior. In-class-exercises and business cases help to establish a connection between theoretical topics and practical business.

This lecture introduces the basic principles of strategy and organizations. Contents will include specific topics within strategy and organization, such as organization theories, organizational resources and capabilities, organizational structure, and cooperation within organizations. Specific topics will be updated and adapted due to current trends and developments.

This lecture extends and deepens the contents of the introductory lecture "Introduction to Strategy and Organization". Contents will include specific topics within strategy and organization, as for example, industry analysis, competitive advantage, diversification strategy, and strategic change. Specific topics will be updated and adapted due to current trends and developments.