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Entrepreneurial Value Creation

Module description

This module is one of six modules included in the With Proficiency In (WPI) Entrepreneurship programme, and available mainly to second year students.

The module is designed to introduce students to how individuals behave entrepreneurially to create sustainable value using their available means. The module’s core components (e.g. Sustainable value creation; Effectual entrepreneurship) are delivered online covering how to explore the feasibility, desirability, and viability of entrepreneurial ideas. We use practice-based approach enabling students to experience the early stages of an entrepreneurial process through the development of their own entrepreneurial idea (which can be based on for-profit or non-profit logic).#

No pre-requisite or co-requisite modules are required to take this module

Full module specification

Module title:Entrepreneurial Value Creation
Module code:BEM2046
Module level:2
Academic year:2023/4
Module lecturers:
  • Dr Erno Tornikoski - Convenor
  • Dr Cliff Li - Convenor
Module credit:15
ECTS value:





None. Please note that this module cannot be taken if you have previously studied BEM2032.

Duration of module: Duration (weeks) - term 1:


Module aims

The aim of the module is to introduce students to the multiple facets of Effectual and Sustainable entrepreneurship and engage them with contemporary issues in entrepreneurial thinking.

The online lecture content is designed to provide context, entrepreneurial cases, and basic tools (canvases, methods, etc.). A series of practically-oriented Tutorials are aimed at engaging students in mastering how entrepreneurial individuals think in terms of creating, delivering, and capturing sustainable value using Effectual principles. These Tutorials give participants the chance to expose and discuss their entrepreneurial projects and will provide formative assessment for the module assignment.

Our belief is that the practices you learn in this module will help you solve problems and address needs in your life no matter what professional career you embark on.

ILO: Module-specific skills

  • 1. develop an entrepreneurial project based on Effectual;
  • 2. apply Sustainable Value Creation framework to entrepreneurial;
  • 3. explore the viability, feasibility, and desirability of entrepreneurial project.

ILO: Discipline-specific skills

  • 4. demonstrate responsibility, self-efficacy and resourcefulness;
  • 5. compose a vision and mission for an entrepreneurial project.

ILO: Personal and key skills

  • 6. develop a critical and creative approach to the creation of value adding and sustainable activities.

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activity12Lectures (online delivery)
Scheduled Learning and Teaching Activity16Tutorials
Guided Independent Study40Prepping for Tutorials
Guided Independent Study82Out-of-class entrepreneurship practice exercises derived from lectures and preparation for formative and summative assessments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Tutorial discussions and exercisesIn class1-6Verbal

Summative assessment (% of credit)

CourseworkWritten examsPractical exams

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Individual entrepreneurial slide deck 10030 slides 1-6Written feedback

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Individual entrepreneurial slide deck (100%)slide deck (30 slides, 100%)1-6August/September Reassessment Period

Syllabus plan

The module will cover the following topics:

  • Effectual Decision-making
  • Sustainable Value Creation
  • Value Proposition Design
  • Testing Fundamental Hypothesis of Value Creation
  • Business Model Generation
  • Effectual Action & Networking

Students will complete an individual written assignment that assess the skills and aptitude associated with Effectual and Sustainable Entrepreneurship.

This module does not assume that students have any prior business courses or experience. Instead, this module is intended for interdisciplinary pathways and, therefore, is encouraged for non-business students as well as experienced business students.


Additional Information:


By honing Effectual reasoning logic, students will have the ability to create value within an organisation, or through self-efficacy by proposing their own entrepreneurial project.


By understanding both the global challenges and the organisational and technological responses at our disposal students will be equipped to deploy Effectual principles that creates a positive and sustainable impact beyond mere economic value creation. 

Indicative learning resources - Basic reading

Osterwalder, A., Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley & Sons UoE Library:

Read, S., Sarasvaty, S., Dew, N. & Wiltbank. (2016) Effectual Entrepreneurship.  2nd Edition.  Routledge.

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