Course Contents

1. Entrepreneurship: Entrepreneurship definitions, historical perspectives, four dimensions of venture creation (individuals, organization, Environment, process), decision to become an entrepreneur, entrepreneurship importance, process, myths, characteristics of successful entrepreneur 2. What Makes Entrepreneurs Entrepreneurial: Effectual reasoning, how expert entrepreneurs make decisions in uncertainty by ‘controlling the future’ 3. Recognizing Opportunities and Generating Ideas: Idea vs. Opportunity, essential qualities of an opportunity, observing trends, solving a problem, finding gaps in the marketplace, window of opportunity, techniques for creating new ideas, encouraging and protecting new ideas 4. Feasibility Analysis: Feasibility analysis and role of feasibility in developing successful business ideas, product/service feasibility analysis, Industry/Target market feasibility analysis, Organizational Feasibility, Financial feasibility 5. Industry and Competitor Analysis: Industry Analysis, competitor analysis, the role of industry and competitor analysis in occupying a unique position in an industry 6. Value Innovation: A new mantra of value creation, the strategy canvas, four-action framework 7. Developing an Effective Business Model: Business model, definitions and basic components of a business model, business model analysis 8. Marketing Challenges for Entrepreneurial Ventures: Building a brand and venture identity, guerilla marketing principles, select a market and establishing a position, selling benefits rather than features, the 4Ps of marketing for new ventures 9. Assessing a New Venture’s Financial Strength and Viability: Financial objectives of entrepreneurial ventures, financial statements and forecast, pro forma financial statements, sources of funding for new ventures 10. Franchising: franchising, how does franchising works, establishing a franchise system, buying a franchise 11. Developing an Effective Business Plan: What is a Business Plan? Pitfalls to Avoid in Planning, Benefits of a Business Plan, Developing a Well- Conceived Business Plan, Elements of a Business Plan, Updating the Business Plan, Presentation of the Business Plan: The “Pitch”.

Course Synopsis

This course will provide the participants with an overall understanding of the concept of entrepreneurship and small business management. The course will assist students in evaluating the business skills and commitment necessary to successfully operate an entrepreneurial venture and review the challenges and rewards of entrepreneurship. Most of the jobs are created by small businesses in the world, the particular problems and experiences encountered in starting and developing new enterprises are clearly worth studying.

Course Learning Outcomes

This course will help students to understand: • Creative and innovative thinking, market opportunity analysis, ability to source, acquire and manage financial resources, business/project planning competencies required for a successful business • Familiarity with the range of organizational support available to assist with the new enterprise development within country and the local community, Communicate new ideas effectively, using a variety of media