Participants of MS in Innovations and Entrepreneurship program learn financial competence and strategic planning

New subjects, a mix of disciplines, the opening of Ideas Lab, meetings with chief executives of SoftServe – these are some of the highlights of the module for the second group of participants of the MS in Innovations & Entrepreneurship program, which took place on November 20-23.

New courses were launched during this module, in particular “Financial Accounting and Financial Competence” by Mykhailo Salo, the finance director of the Lviv Business School, and “Business Ethics” by Volodymyr Turchynovskyi, head of the UCU philosophy faculty.

The participants also learned how to create a project strategy for 5 years. Ken Philipps, expert in strategic planning and financial stability, helped them with this. The lecturer presented his own strategy and encouraged the participants to perform the first point of the strategy – to leave their comfort zone.

At every module all participants share their experiences as part of the project “Let’s Teach and Learn.” This time Yaryna Vozniak and Dmytro Zavhorodniy shared with their group mates how to correctly draft application forms for surveys and promote their products in the social media.

Lawyer Andriy Hrynchuk told the participants how to hire and dismiss employees, and spoke about the different aspects of the labor law. Together with Oleksandra Baklanova, the innovators held negotiations. They learned about the ways of gathering and processing data at the course “Data Analysis and Forecasting,” which was taught by Iryna Symovonyk. Yaroslav Prytula, a professor at LvBS, who is in the United States now, taught the course “Analysis of Business Conditions and Business Decision Making” through the Cisco system TelePresence.

Examining the cases, in particular the most current events of EuroMaidan, the participants discussed the subject of correctly using social media with journalist, media critic, and expert Otar Dovzhenko, a professor of journalism at UCU.

On November, 22 the renewed Ideas Lab was opened at LvBS. Ideas Lab is a comfortable and inspiring space whereideas for new innovative start-ups are born from discussions with like-minded, experienced entrepreneurs and mentors. The chief executives of SoftServe, Yaroslav Liubinets and Taras Verveha, were present at the opening. The participants of both groups talked about values, corporate culture, secrets of management, and putting forward innovative ideas. A workshop by Oleksiy Orap, expert of the IT market and CEO and founder of YouScan, was held at Ideas Lab. Oleksiy spoke about the approaches to launching startups without wasting time and money according to the conception “Lean Startup.” He advised the participants to test their product in order to minimize the costs (MVP – minimum vіable product).

At the end of the module, the participants expressed their support for the EuroMaidans of Lviv, Kyiv, Ivano-Frankivsk, and other Ukrainian cities.

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