Technische Universität Ilmenau

Management 5 - Modultafeln of TU Ilmenau

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subject properties Management 5 in major Master Wirtschaftsingenieurwesen 2015
subject number6266
examination number2500044
departmentDepartment of Economic Sciences and Media
ID of group 2525 (Management / Organization Group)
subject leaderProf. Dr. Norbert Bach
term Wintersemester
credit points4
on-campus program (h)34
self-study (h)86
Obligationobligatory elective
examalternative examination performance
details of the certificate

alternative method of assessment

Both individual and group assignments and presentations during class and tutorials (30%); written or oral exam (70%) depending on student numbers. The module can only be passed by obtaining at least a pass (4.0) at each of the four components of the assessment.

Students need to register through the thosca+ system.

Signup details for alternative examinations
maximum number of participants
previous knowledge and experience

Bachelor´s degree with a business subject (Wirtschaftsingenieurwesen, Medienwirtschaft, Wirtschaftsinformatik, Betriebswirtschaftslehre, and similar); profound understanding of the English language.


learning outcome

The learning goals of this unit are as follows:

1) Knowledge and understanding

Both disciplines Strategic Management and Entrepreneurship are young disciplines. The former is largely theory driven, while the latter is phenomenon driven and experiential. In this module, we make the attempt to contrast them, but we also try to show how they are complimentary. The first learning goal is to impart a general understanding of Strategic Management and Entrepreneurship and to gain ‘up to date’ knowledge on selected challenges within both disciplines.

2) Intellectual skills

Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately.

3) Professional practical skills

Effective performance within team environments and the ability to recognise and utilise individuals' contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management.

4) Transferable (key) skills

Effective two-way communication: listening, effective oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports

High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; sensitivity to diversity in people and different situations and the ability to continue to learn through reflection on practice and experience

  • Unit outline (preliminary):



    Entrepreneurship and Innovation

    - Entrepreneurship and Economic Growth

    - Schumpeterian and Kirzner Opportunities

    - The Field of Entrepreneurship

  • What is Strategy?

    - History of and Perspectives on Strategy

    - Strategy Context, Content, and Process

    - Putting strategy in it‘s place

  • Dominant Perspectives within Strategic Management

    - Economizing versus Strategizing

    - Market-based View: How much does Industry matter?

    - Resource-based View: Really?

  • International Management

    - Definitions and Drivers of Internationalization and Globalization

    - Theories explaining Internationalization

    - Managing Multinational Firms

  • Dynamic Capabilities and Timing Strategies

    - Dynamic Capabilities and Competitive Advantage

    - Managerial Cognition: The fourth Dynamic Capability

    - Framework for Resource Orchestration

  • (Digital) Business Models in (Digital) Industry Architectures

          - Of Architectures, Industry, and Organizational Advantage

          - Designing and Innovating Business Models

media of instruction

PowerPoint-Folien, Tafelbild, Skript, Literaturstudium, Case Study Tutorial

literature / references
  • Aldrich, Howard E., and Roger Waldinger. "Ethnicity and entrepreneurship." Annual Review of Sociology (1990): 111-135.

  • Alvarez, Sharon A., and Lowell W. Busenitz. "The entrepreneurship of resource-based theory." Journal of Management 27.6 (2001): 755-775.

  • Amit, R. & Zott, C. (2012). Creating value through business model innovation. MIT Sloan Management Review 53(3), 41-49.

  • Baker, Ted, and Reed E. Nelson. "Creating something from nothing: Resource construction through entrepreneurial bricolage." Administrative Science Quarterly 50.3 (2005): 329-366.

  • Barney, J. B. (1986). Strategic factor markets: Expectations, luck, and business strategy. Management Science, 32(10), 1231-1241.

  • Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.

  • Baumol, W. J., 1990, "Entrepreneurship: Productive, Unproductive, and Destructive", Journal of Political Economy 98, 893-921.

  • Burgelman, Robert A. "Corporate entrepreneurship and strategic management: Insights from a process study." Management Science 29.12 (1983): 1349-1364.

  • Conner, Kathleen R. "A historical comparison of resource-based theory and five schools of thought within industrial organization economics: do we have a new theory of the firm?." Journal of Management 17.1 (1991): 121-154.

  • Eggers, J. P. & Kaplan, S. (2013). Cognition and capabilities: a multi-level perspective. The Academy of Management Annals, 7(1), 295-340.

  • Foss, Kirsten, and Nicolai J. Foss. "Resources and transaction costs: how property rights economics furthers the resource-based view." Strategic Management Journal 26.6 (2005): 541-553.

  • Gartner, W. B. (1985). A conceptual framework for describing the phenomenon of new venture creation. Academy of Management Review, 10(4), 696-706.

  • Greve, Arent, and Janet W. Salaff. "Social networks and entrepreneurship." Entrepreneurship Theory and Practice 28.1 (2003): 1-22.

  • Ireland, R. Duane, Michael A. Hitt, and David G. Sirmon. "A model of strategic entrepreneurship: The construct and its dimensions." Journal of Management 29.6 (2003): 963-989.

  • Kaplan, R. S., & Norton, D. P. (1996). Using the balanced scorecard as a strategic management system. Harvard Business Review, 74(1), 75-85.

  • Kim C. & Mauborgne, R. (2004). Blue Ocean Strategy. Harvard Business Review, 76-84.

  • Lounsbury, Michael, and Mary Ann Glynn. "Cultural entrepreneurship: Stories, legitimacy, and the acquisition of resources." Strategic Management Journal22.6-7 (2001): 545-564.

  • Nelson, Richard R., and Sidney G. Winter. "Evolutionary theorizing in economics." The Journal of Economic Perspectives 16.2 (2002): 23-46.

  • Osterwalder, Alexander; Pigneur, Yves (2010): Business Model Generation. A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, NJ: Wiley. Online: :

  • Oviatt, Benjamin M., and Patricia P. McDougall. "Defining international entrepreneurship and modeling the speed of internationalization." Entrepreneurship Theory and Practice 29.5 (2005): 537-554.

  • Milgrom, P. & Roberts, J. (1992): Economics, Organization and Management. Chapter 5: Bounded rationality and private information.

  • Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), 179-191.

  • Porter, M. E. (1979). How competitive forces shape strategy. (pp. 21-38). Harvard Business Review, 21-38.

  • Porter, Michael E. "The contributions of industrial organization to strategic management." Academy of Management Review 6.4 (1981): 609-620.

  • Sarasvathy, Saras D. "Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency." Academy of Management Review 26.2 (2001): 243-263.

  • Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.

  • Shelanski, H. A., & Klein, P. G. (1995). Empirical research in transaction cost economics: a review and assessment. Journal of Law, Economics, & Organization, 335-361.

  • Tirole, Jean. "Cognition and incomplete contracts." The American Economic Review 99.1 (2009): 265-294.

  • Venkataraman, S., Sarasvathy, S. D., Dew, N., & Forster, W. R. (2012). Reflections on the 2010 AMR decade award: Whither the promise? Moving forward with entrepreneurship as a science of the artificial. Academy of Management Review, 37(1), 21-33.

Additional reading material will be provided in the virtual classroom on and during class!

evaluation of teaching


SS 2008 (Fach)

WS 2011/12 (Fach)

Freiwillige Evaluation:

WS 2011/12 (Übung)

WS 2012/13 (Vorlesung, Übung)

WS 2014/15 (Seminar)