UNIVERSITY OF TECHNOLOGY, JAMAICA

COLLEGE OF BUSINESS AND MANAGEMENT SCHOOL OF ENTREPRENEURSHIP COURSE OUTLINE SUMMER 2010/11 COURSE : ENTREPRENEURSHIP COURSE CODE: ENT3001 DURATION : 45 HOURS CREDITS : 3 1. COURSE DESCRIPTION This module guides students through the process involved in creating a new business. It begins by introducing the concepts of entrepreneurship and intrapreneurship and culminates with the development of a business plan. It covers topics ranging from idea generation and marketing, through to the legal aspects of business. The module seeks to demystify the process of starting and operating business, by exposing participants to a systematic approach to business development, with the aim of increasing the number of persons who see business creation as a viable alternative for employment and contribution to society.

2. COURSE OBJECTIVES On completion of this module participants should be able to: a. explain the importance of new business development in the domestic and international economy b. explain the concepts of entrepreneurship and intrapreneurship c. identify opportunities for development of new businesses and generate business ideas d. identify and explain essential components of the operations of a business e. conduct a feasibility study and develop a business plan f. apply analytical and problem solving skills in a variety of business situations Participants should also be: g. open to explore innovative ideas for business creation and expansion h. willing to take calculated risks in the process of business development

3. UNIT ONE - INTRODUCTION TO ENTREPRENEURSHIP

Week l

Students should be able to: 3.1 demonstrate an understanding of the background of business 3.2 explain the concept of entrepreneurship 3.3 discuss the characteristics of an entrepreneur 3.4 state factors that encourage entrepreneurship 3.5 state factors that discourage entrepreneurship 3.6 assess the importance of entrepreneurship in a developing economy CONTENTS 1. Background to business 2. Definition of entrepreneurship 3. Characteristics of an entrepreneur 4. Factors encouraging entrepreneurship 5. Factors discouraging entrepreneurship 6. The Relevance of entrepreneurship in the local industry. 1

4. UNIT TWO - FEASIBILITY STUDY Weeks 2 (NB. The Feasibility Assignment should be given at the start of Week 2) Students should be able to: 5.1 explain the relevance of a feasibility study 5.2 state the procedures involved in conducting a feasibility study 5.3 explain the elements of a feasibility study 5.4 conduct a feasibility study CONTENTS 1. The importance of a feasibility study 2. The feasibility study procedures 3. Elements of a feasibility study 4. Conducting a feasibility study 5. UNIT THREE - MARKETING CONSIDERATIONS Weeks 3

Students should be able to : 4.1 explain the concept of target marketing 4.2 discuss the elements of the marketing mix 4.3 discuss the importance of public relations and customer service CONTENTS 1. Target marketing 2. The marketing mix 3. Public relations activities

6. UNIT FOUR - LEGAL ASPECTS OF A BUSINESS Students should be able to: 6.1 discuss forms of business ownership 6.2 explain modes of operation 6.3 explain the procedures for registering a business 6.4 discuss the legal documents associated with a business CONTENTS 1. Forms of business ownership 2. Modes of operation 3. Procedures for registering a business 4. Legal documents in a business

Weeks 4

Joint Venture Franchising Acquisitions Mergers -- New Venture Expansion Strategies & Issues Going Public

7. BUSINESS PLAN OVERVIEW

Week 5

Students should be able to: 7.1 discuss the purposes of a business plan 7.2 explain the elements of a business plan 7.3 develop a business plan and present CONTENTS 1. The importance of a business plan 2. The purpose and uses of business plans 3. Elements of a business plan 4. Developing and presenting a business plan

8. UNIT FIVE- ORGANIZATION AND MANAGEMENT Week 6 (NB. The Business Plan Assignment should be given no later than week 7) Students should be able to: 8.1 assess an organization using a SWOT analysis 8.2 explain the elements of corporate planning 8.3 explain the methods of designing an organizational structure 8.4 explain the management functions in an organization 8.5 state various corporate strategies CONTENTS 1. SWOT. Analysis 2. Corporate Planning 3. Organizational Designs 4. Management Functions 5. Corporate Strategies

9. UNIT SIX - HUMAN RESOURCE MANAGEMENT Weeks 7 Students should be able to: 9.1 explain the importance of the human resources 9.2 discuss the procedures involved in sourcing and staffing 9.3 state opportunities for training and development 9.4 discuss the relevance of performance evaluation 9.5 discuss the importance of occupational safety and health CONTENTS 1. The human element in a business 2. Sourcing and staffing 3. Training and development 4. Performance evaluation 5. Occupational safety and health 10. UNIT SEVEN - OPERATIONS MANAGEMENT Students should be able to: 10.1 discuss the options for plant location and layout 10.2 explain the importance of inventory management 10.3 explain the relevance of cost control 10.4 discuss the importance of quality control 10.5 discuss the elements, of risk management CONTENTS 1. Plant location and layout 2. Inventory management 3. Cost control 4. Quality Control 5. Risk management Week 8

11. UNIT EIGHT - ACCOUNTING & FINANCE

Weeks 9 & 10

Students should be able to: 11.1 Discuss sources of financing 11.2 Prepare start up cost schedule 11.3 Distinguish between capital and revenue expenditure 11.4 Compute break even 11.5 Prepare cash budgets 11.6 Prepare basic financial accounting statements CONTENTS 1. Sources of finance 2. Determining start up cost 3. Capital and revenue expenditure 4. Break even analysis 5. Cash budgets 6. Financial accounting statements

12. REQUIRED TEXT 1. Hisrich, Robert, D., Peters, Michael P. & Shepherd, Dean A. 2008: Entrepreneurship, 7th Edition, McGrawHill READINGS 1. Zimmerer, T. W. and Scarborough, N. M: Essentials of Entrepreneurship and Small Business Management 2. Booklets on Small Business Management & Entrepreneurship The Technology Innovation Center, University of Technology, Jamaica

13. ACCESSING RESOURCE MATERIAL The module can be accessed and followed on the Internet at UTech Online http://utechonline.utech.edu.jm The enrolment key is Intrapreneur

14. 1 2 3 4 NB.

EVALUATION Feasibility Study & Presentation (Group) Test (Individual) Presentation (Individual) Business Plan (Group)

WEIGHT 20% 40% 10% 30%

DUE DATE w/b 2011 June 27 w/b 2011 July 11 w/b 2011 July 25 w/b 2011 July 25

The Feasibility Assignment should be given on or before week 2, May 30 June 4. The Business Plan Assignment should be given no later than week 7, July 4 9. ==============================

Updated May 17, 2011 by O. Reid