The class is an introduction to and overview of entrepreneurship. The key course objective is to familiarize the student with the essential requirements for the successful planning of a new venture, and the issues involved in managing a new venture:
- Overview of basic concepts and facts connected to entrepreneurship.
- Understanding entrepreneurs and the activities they perform.
- Familiarizing the students with the role of entrepreneurship in the economy.
- Understanding the differences between different forms of entrepreneurship.
- Understanding and performing the process of planning a new venture: Identifying and developing opportunities. Analyzing business opportunities. Use of methodology for developing a business plan. Using a business plan to explore the issues of funding of new venture, building the entrepreneurial team and of financial planning.
Through group project work (developing business plans) students also develop teamworking skills.
- The Entrepreneurial perspective: The nature and importance of entrepreneurs and entrepreneurship.
- Innovations and entrepreneurial opportunities.
- The Individual Entrepreneur.
- Forms of entrepreneurship: Intrapreneurship. High-tech entrepreneurship. Social entrepreneurship. Family businesses.
- From the opportunity to the business plan: Business plan. Market analysis. Industry background and competitor analysis. Marketing plan. Operations and R&D plan. Organizational plan. Assessment of risk. Financial plan.
- Funding of the new venture.
- Growing and ending the venture.
- Institutional support for entrepreneurship. Legal aspects of setting up a business.