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Description

Module 2 of the Business Thought & Action™ course is entrepreneurial-themed, analyzing the essentials of starting and running a business. Companies are examined in-depth to illustrate that the same business principles apply to all companies, whether startups or multinational corporations. Students learn to apply analytical thinking to product innovation as a creative force, use process innovation as a competitive advantage, and harness the competitive advantages of information technology (IT).

Teaching Objectives

After reading and discussing the material, students should:

  • Explain why different companies and markets exist.
  • Use the customer value proposition (CVP) framework to describe a business.
  • Identify innovative, sustainable business ideas.
  • Describe how executives can sustain a business through product differentiation and reinvestment.This module is one of six total modules included in the case-based, introductory business course entitled “Business Thought & Action™”, created by former Dean Robert Dolan and Professors Robert Kennedy and Scott Moore of the Ross School of Business at the University of Michigan. While modules can be adopted individually or in groups, it should be noted they were originally designed to be taught sequentially and as part of the entire course.