MG112: Entrepreneurial Strategy: Designing and Launching Ventures

Entrepreneurial Strategy: Designing and Launching Ventures is designed to equip early-stage entrepreneurs and students wishing to start their own venture or work in a start-up; with the theoretical frameworks, practical tools, and entrepreneurial mindsets required to identify, design, and launch new ventures—ranging from profit-driven startups to mission-driven social enterprises.

What makes this course unique is its challenge to the dominant "one-size-fits-all" approach in entrepreneurship education. Dominant entrepreneurship theory views the entrepreneur as a visionary who identifies an opportunity and then builds a business to exploit it—In reality there is no single archetype of an entrepreneur. Most founders don’t start with a world-changing vision or a revolutionary product. Many don’t fit the stereotype at all. And yet, they build real companies that create real value.

Here are the facts that matter:

• Entrepreneurship isn’t always a talent you’re born with; it’s a capability you develop.
• There is no universal blueprint. There are multiple ways to build a business, each valid under different conditions.
• Success depends on choosing an approach that fits your reality—your resources, constraints, goals, and environment.

This course is based on course leader Dr Nadia Millington’s research into over 100 startups and introduces students to six distinct entrepreneurial logics, each grounded in different theoretical traditions, for example:

1. Problem-centric entrepreneurship – applying problemistic search (Cyert & March) to address unmet needs
2. Resource-centric entrepreneurship – leveraging available means through effectuation logic (Sarasvathy) 
3. Human-centric entrepreneurship – building ventures around user needs and empathy (Leifer).

Each logic is illustrated with real cases. Students critically evaluate when and where each approach is most effective—from Silicon Valley-style ventures to impact-driven organisations. By understanding that entrepreneurship is not a single formula but a spectrum of approaches, students gain the analytical flexibility to choose the path best suited to their venture context.

The second half of the course focuses on translating promising ideas into viable ventures, covering topics like business modelling and competitive advantage. Students then apply these concepts to develop a business pitch based on one of the ideas they generated in class, bridging theory and practice.

Prerequisites: There are no prerequisites for this course 

Level: 100 level. Read more information on levels in our FAQs

Fees: Please see Fees and payments

Lectures: 36 hours

Classes: 18 hours

Assessment: Business pitch (30%) and an examination (70%)

Typical credit: 3-4 credits (US) 7.5 ECTS points (EU)

Please note: Assessment is optional but may be required for credit by your home institution. Your home institution will be able to advise how you can meet their credit requirements. For more information on exams and credit, read Teaching and assessment

This course is designed for early-stage entrepreneurs and students exploring entrepreneurship as a career or those wanting to work at organisations that manage and mould startups. It will particularly appeal to students seeking to combine theoretical knowledge with hands-on experience in venture creation. 

The course is also relevant for those interested in both profit-driven startups and mission-driven social enterprises.  

Importantly: topics that may appeal to more experienced entrepreneurs such as scaling, growth hacking, financing growth, investor relations and exiting, while undoubtedly valuable, cannot be addressed in any level of depth within the constraints of a 12-lecture structure. As a result, the course may be less suitable for those seeking detailed expertise in these areas.

Knowledge & Understanding: Students will be able to

• Explain the theoretical foundations of entrepreneurship, including six distinct entrepreneurial logics and their relevant theoretical traditions.
• Identify the key factors that influence venture creation in both profit-driven and social enterprise contexts.

Cognitive & Analytical Skills: Students will be able to

• Critically analyse startup case studies to evaluate the applicability and effectiveness of different entrepreneurial approaches under varying conditions.
• Assess the fit between a venture opportunity and a chosen entrepreneurial strategy, considering resources, constraints, and market context.

Practical & Applied Skills: Students will be able to

• Apply entrepreneurial frameworks to develop viable business concepts
• Construct a minimum viable product (MVP) plan and outline a business model to test and validate an early-stage venture.

Communication & Collaboration Skills

• Collaborate effectively in teams to design, develop, and pitch a new business idea to a hypothetical investor, demonstrating persuasive storytelling and evidence-based justification.
• Communicate complex entrepreneurial concepts clearly, both orally and in written form, to diverse audiences.

The design of this course is guided by LSE faculty, as well as industry experts, who will share their experience and in-depth knowledge with you throughout the course.