Course code VadZ4027

Credit points 4


Total Hours in Course160

Number of hours for lectures32

Number of hours for seminars and practical classes32

Independent study hours96

Date of course confirmation24.01.2012

Responsible UnitInstitute of Business and Management Science

Course developer

author Uzņēmējdarbības un vadībzinātnes institūts

Aina Muška

Dr. oec.

Prior knowledge

Ekon1012, Microeconomics

Ekon2109, Macroeconomics

Ekon3108, Marketing

Ekon3113, Finance and Taxes

Ekon4102, Financial Accounting

JurZ2005, Basics of Law

VadZ2028, Economic Management Studies

VadZ4041, Business Information Management

Course abstract

Students gain an understanding of the nature and constituents of entrepreneurship, the economic activity system in Latvia, the entrepreneurial environment as well as practical skills needed to start up the entrepreneurship, the phases and specifics of the life cycle of an enterprise, micro, small and medium enterprises and their role as well as the economic situation in Latvia. Students also acquire basic theoretical knowledge and an understanding of business planning and risk management as well as practical skills in designing a business plan and a risk management programme.

Learning outcomes and their assessment

1. Students will be able to: demonstrate a comprehensive knowledge of the principles, legal aspects and problems of entrepreneurship in Latvia - study, an examination.
2. Demonstrate a specific knowledge of starting up a business - independent work, an examination.
3. Demonstrate a comprehensive knowledge of the purposes of designing a business plan and the objectives and key functions of the business plan as well as the design process - test, practical assignments.
4. Demonstrate the knowledge of risk management stages and methods - practical assignments, independent work, study, test, an examination.
5. Generate and underpin a business idea and do activities to start up a business by using the theoretical knowledge and skills acquired - independent work.
6. Identify, analyse and group entrepreneurial environment factors - practical assignments, business plan.
7. Explain and reasonably discuss matters regarding the entrepreneurial environment and micro- and small enterprises as well as the most important phases of the enterprise life cycle - discussions during classes, an examination.
8. Independently acquire, select and analyse information and use it in designing a business plan - practical assignments, business plan.
9. Explain and present the research results to others - presentations of the independent work and the business plan.
10. Responsibly plan the completion of the assignments given - presentations of the independent work and the business plan.
11. Cooperate - practical assignments, independent work and business plan.
12. Define and give solutions to problems in entrepreneurship - discussions during classes, an examination.
13. Start up a business - practical assignments, independent work and business plan.
14. Manage risks in doing business - business plan and independent work regarding risks in implementing a business idea.
15. Identify the necessary amount of investment and choose the most appropriate source of finance based on the planned cash flow - business plan.
16. Integrate multi-disciplinary knowledge and skills to design and implement a high-quality business plan - business plan and the presentation of the business plan.

Course Content(Calendar)

1. Basic terms of entrepreneurship and the economic activity system in Latvia (lecture – 2 hours)
2. Entrepreneur, entrepreneurial ability and initiative (lecture – 1 hour)
3. Resources of entrepreneurship (lecture – 1 hour)
4. Starting up a business (lecture – 1 hour; practical – 4 hours)
5. Legal framework for economic activity in Latvia. Sole proprietors in Latvia. Performers of economic activity registered with the State Revenue Service of the Republic of Latvia. Businesspersons. European company. Cooperative society (lecture – 2 hours; practical – 4 hours)
6. Ways of implementing a business idea: starting a business from zero; acquisition of a business, acquisition of a franchise (lecture – 1 hour; practical – 2 hours)
7. Entrepreneurial environment (lecture – 1 hour; practical – 2 hours)
8. Firm (name) and the formation of the firm (practical – 2 hours)
9. Choice of a site for doing business (lecture – 1 hour; practical – 2 hours)
10. Life cycle of a business (lecture – 1 hour)
11. Insolvency of a business (lecture – 2 hours)
12. Consolidation of businesses. Division and transformation of businesses (lecture – 1 hour)
13. Liquidation of a business (lecture – 1 hour)
14. Micro-, small and medium enterprises (lecture – 1 hour)
15. Planning methodology (lecture – 2 hours)
16. Business planning (lecture – 2 hours)
17. Design process and content of a business plan (lecture – 2 hours)
18. Characteristics of goods and services produced (lecture – 1 hour; practical – 1 hour)
19. Study and analysis of a sales market (lecture – 1 hour; practical – 1 hour)
20. Competitors and competitive advantages (lecture – 1 hour; practical – 2 hours)
21. Characteristics of the business and industry (lecture – 1 hour; practical – 1 hour)
22. Marketing plan. production plan (lecture – 1 hour; practical – 2 hours)
23. Financial plan and a strategy of financing (lecture – 1 hour; practical – 2 hours)
24. Organisational plan (lecture – 1 hour; practical – 1 hour)
25. Potential risks in the business plan. Risk management (lecture – 2 hours; practical – 3 hours)
26. Business model KANVAS (lecture – 1 hour)
Presentation of the business plan designed (practical – 2 hours)
Test 1: Planning methodology and risk management (practical – 1 hours)

Requirements for awarding credit points

A test in the Moodle system on all the topics studied during the course.
A mark of at least 4 has to be acquired in the test, independent work and presentations each.

Description of the organization and tasks of students’ independent work

Three independent assignments have to be completed, working in teams of up to 4 students:
Assignment 1. A study of the legal aspects of a business idea (at least 4 pages in size, uploaded to the Moodle system until the end of the semester)
Assignment 2. Designing a risk management programme for the business idea (at least 10 pages in size, submitted in paper format until the end of the semester)
Assignment 3. Designing a business plan for the business idea (25-30 pages in size, submitted in paper format until the end of the semester)
Four presentations have to be made, working in teams of up to 4 students:
Presentation 1. Feasibility of a business idea and the ways of the implementation (to be made within a week after the relevant practical and presented during a practical; presentation duration – up to 10 minutes)
Presentation 2. Foundation of a firm for the business idea and the choice of a legal form of business organisation (to be made within a week after the relevant practical and presented during a practical; presentation duration – up to 10 minutes)
Presentation 3. Choice of a location where to implement the business idea (to be made within a week after the relevant practical and presented during a practical; presentation duration – up to 10 minutes)
Presentation 4. Business plan (to be presented during a practical before the end of the semester; presentation duration – up to 10 minutes)

Criteria for Evaluating Learning Outcomes

A students earns a positive mark in the test and examination if at least 40% of the answers are correct.
The final mark is calculated as a weighted average, based on the 3 independent assignments (weight of each is 0.1 or 10%), the 4 presentations (weight of each is 0.05 or 5%), the test (0.1 or 10%) and the examination (0.4 or 40%). The weighted average mark is calculated by multiplying the weights of the corresponding activities (independent assignments, presentations, the test and the examination) by the marks earned in the activities and then the scores are added up.

Compulsory reading

1. Komerclikums: LR likums. Stājas spēkā 01.01.2002. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 2. Kooperatīvo sabiedrību likums: LR likums.Stājas spēkā 10.03.1998. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 3. Par individuālo (ģimenes) uzņēmumu un zemnieka vai zvejnieka saimniecību: LR likums. Stājas spēkā 06.02.1992. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 4. Par iedzīvotāju ienākuma nodokli: LR likums. Stājas spēkā 01.01.1994. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 6. Maksātnespējas likums: LR likums. Stājas spēkā 01.11.2010. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 7. Eiropas kooperatīvo sabiedrību likums: LR likums. Stājas spēkā 23.11.2006. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 8. Eiropas komercsabiedrību likums: LR likums. Stājas spēkā 07.04.2005. ar grozījumiem. [Skatīts 27.12.2018.]. Pieejams: 9. Alsiņa R. Mācies plānot. Biznesa plāna pamati. Rīga: Kamene, 2000. 75 lpp. 10. Ārējā riska vadība. Rīga: Lietišķās informācijas dienests, 2010. 188 lpp. 11. Chernev A. The marketing plan handbook. 4th edition. USA: Cerebellum Press, 2014. 178 p. 12. Uzņēmēja rokasgrāmata. Rīga: Jumava, 2009. 376 lpp. 13. How to Plan Business? Aina Muška, Līga Paula, Lāsma Līcīte, Dina Popluga. In: Entrepreneurship in Rural Areas through the production and exploitation of medicinal and aromatic plants: manual. Jelgava, 2018, p. 130-258. - ISBN 9789984482958 14. Muška A. Uzņēmējdarbības plānošana. Rīga: SIA KIF „Biznesa komplekss”, 2005. 93 lpp. 15. Muška A. Uzņēmējdarbības pamatkurss. Rīga: KIF „Biznesa komplekss”, 2005. 120 lpp. 16. Vīksne A. Savs bizness. Atkārtots un papildināts izdevums. Rīga: Lietišķās informācijas dienests, 2009. 232 lpp. 17. Osterwalder A., Pigneur Y. Business Model Generation: A Handbook for Visionaries, Game Changers and Challengers. Alexander Osterwalder & Yves Pigneur, 2009. 288 p. ISBN 978-2-8399-0580-0 18. Gerber M. E. Uzņēmējdarbības meistarība: ko zina ikviens veiksmīgs uzņēmējs. Jelgava: Zoldnera izdevniecība, 2013. 219 lpp. 19. Oganisjana K. Uzņēmējspēja un uzņēmība. Rīga: RaKa, 2012. 239 lpp. 20. Oganisjana K. Starpdisciplinārās mācības uzņēmības un uzņēmējspējas veicināšanai. Rīga: Latvijas Universitāte, 2015. 204 lpp. ISBN 978-9934-527-40-1 21. Nellke M. Kreativitātes metodes radošo spēju attīstīšanai. Rīga: Balta eko,2003. 126 lpp. 22. Franšīzes iegūšana: autostrāde uz veiksmi biznesā [tiešsaiste]. Pieejams: 23. Pettere G., Voronova I. Riski uzņēmējdarbībā un to vadība: Mācību līdzeklis. Rīga: Banku augstskola, 2003. 176 lpp. 24. Casson M. The Oxford Handbook of Entrepreneurship. Oxford University Press, 2008. 790 p. 25. Forbat J. Entrepreneurship: The Seeds of Success. Harriman House Limited, 2007. 192 p. 26. Singh S. K., Gupta S. Entrepreneurship: E-Book. SBPD Publications, 2016. 516 p. 27. Stokes D., Wilson N., Wilson N. Small Business Management and Entrepreneurship. Cengage Learning EMEA, 2010. 477 p. 28. Neilande J. Komersanta ABC. Rīga: Apgāds Zvaigzne ABC, 2013. 270 lpp. 29. Šarma R. Līderis bez titula: mūsdienīgs stāsts par patiesiem panākumiem biznesā un dzīvē. Rīga: Avots, 2011. 234 lpp. 30. Godins S. Pievienotā vērtība: idejas nākotnes mārketingam. Jelgava: Zoldnera izdevniecība, 2010. 244 lpp. 31. Zvirbule-Bērziņa A., Mihejeva L., Auziņa A. Plānošanas un ražošanas procesa organizēšanas pamatprincipi. Rīga: Biznesa augstskola Turība, 2004. 144 lpp.

Further reading

1. Balodis K. Ievads Civiltiesībās. Rīga: Zvaigzne ABC, 2007. 383 lpp. 2. Jaunzems A. Riska analīze un vadīšana. Ventspils: Ventspils augstskola, 2009. 361 lpp. 3. Biznesa atveseļošana. Autoru kolektīvs. Sērija: Harvard Business Review on. Rīga: Izdevniecība Lietišķās informācijas dienests, 2008. 150 lpp. 4. Forands I. Biznesa vadības tehnoloģijas. Rīga: Latvijas Izglītības fonds, 2009. 330 lpp. 5. Vīksna A., Baroniņa R. Mani septiņi soļi biznesa uzsākšanai. Rīga: Lietišķās informācijas dienests, 2009. 112 lpp. 6. Uzsākt biznesu. Rīga: Lietišķās informācijas dienests, 2009. 104 lpp. «Lessons Learned» grāmatu sērija. 7. Diderihs H. Uzņēmuma ekonomika. Rīga: Zinātne, 2000. 515 lpp. 8. Hofs K. Biznesa ekonomika. 2.izdevums. Rīga: Jāņa Rozes apgāds, 2010. 603 lpp. 9. Pirmie soļi topošajiem uzņēmējiem [tiešsaiste]. Pieejams: 10. Leibus I. Pirmie soļi komercdarbībā: darbības uzsākšana, grāmatvedība un nodokļi. Rīga: Lietišķās informācijas dienests, 2016. 152 lpp. 11. Krogzeme H. Komersantu darbības analīze un kontrole: Mācību grāmata. Rīga: Rīgas Tehniskā universitāte, 2013. 348 lpp. 12. Vedļa A. Ceļvedis uzņēmējdarbībā. Rīga: Petrovskis & Ko, 2002. 490 lpp. 13. Valsts ieņēmumu dienesta mājas lapa. Pieejams: 14. Latvijas Republikas Uzņēmumu reģistra mājas lapa. Pieejams: 15. Latvijas Investīciju un attīstības aģentūras mājas lapa. Pieejams: 16. LR tiesību aktu mājas lapa. Pieejams: 17. LR Centrālās statistikas pārvaldes mājas lapa. Pieejams: http://

Periodicals and other sources

1. Dienas Bizness: nedēļas laikraksts: Latvijas Biznesa avīze. Rīga: Diena: Dagens Industri, 1992. ISSN 1407-2041 2. Kapitāls: žurnāls lietišķiem cilvēkiem: krāsains biznesa un ekonomikas žurnāls. Rīga: Lietišķās informācijas dienests, 1998. ISSN 1407-2041 3. Latvijas Vēstnesis. Latvijas Republikas oficiālais izdevums [tiešsaiste]. Pieejams: 4. Bilance: grāmatvedība, likumdošana, finanses: žurnāls par grāmatvedību, likumdošanu un finansēm. Rīga: lietišķās informācijas dienests, 2005. ISSN 1407-5709


Compulsory course (Part A) for the ESAF academic Bachelor study programme “Economics”