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Course Objectives The purpose of this course is to expose students to the ideas, mind set, thinking and techniques related to researching and starting up a new business idea. Through a combination of lecture, field work, library and internet research guest lecturers, and video students will assess the feasibility of an opportunity that could be pursued within or outside of the confines of the organization. Broad Course Contents Entrepreneurs Start-up & the Need for Competitive Advantage Marketing Research and Product Strategy and Promotional & Pricing Strategies Developing an Effective Business Plan Venture Feasibility and Business Plan Checklist Sample Business Plan Selecting the Management Team & Managing HR Broad Course Contents Forms of Ownership & Legal Issues Selecting a Location and Planning the Facilities Operations Management & Control Systems Financing Requirements and Pro Forma Statements Evaluating & Managing Financial Performance Distribution Franchise Opportunities E-Entrepreneurship and ICT Ventures The way forward Class lectures and discussions Assignment 1 (10%): Group (2-3 students) [Aug-20] Interview an entrepreneur One 5 page report setting out the findings of the entrepreneur interview in question and answer style is the final deliverable for this assignment The objective of the interview is to obtain insight into the mindset of the entrepreneur as distinct from the employee/manager. The way forward Assignment 1 contd: This assignment is due in class on week 4 with one report being submitted per group Individual submissions will not be accepted Students will provide a schedule showing the relative contribution of all members with adequate notice for non-contributors to change their behaviour The way forward Group project/Business plan (15%) Group (4-5 Students) Project Objective Thinking out of box Innovate!!! Start up a new business venture Write a Business Plan Sustain & Grow Look for opportunities to expand your business Assessment External examiners will take interviews Watch the Dragons den The way forward Assignment I (10%) Business Plan Project (15%) Mid-term exams (20%) Quizzes (5%) Final examination (50%) The most exciting phrase to hear in science, the one that heralds new discoveries, is not "Eureka!" (I found it!) but "That's funny. . . ." Isaac Asimov The foundations of entrepreneurship Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage Niccolo Machiavelli A few quotes You could spend all your time learning and not doing. And doing, not just learning to do, is the essence of entrepreneurship
"entrepreneur" is not a job title. It is the
state of mind of people who want to alter the future Learning objectives Define the role of the entrepreneur Describe the entrepreneurial profile and evaluate your potential as an entrepreneur Describe the benefits and drawbacks of entrepreneurship Put failure into proper perspective Explain how an entrepreneur can avoid becoming another failure statistic The World of the Entrepreneurs In the US 550,000 entrepreneurial ventures each month! Entrepreneurial activity is essential to a strong global economy Entrepreneurship Process of identification of opportunities and allocating resources for creating a change