The course explores the foundation and management of start-up businesses. It concentrates on initial strategy, location, financing, staffing, daily activities, controls and taxes. Students develop a business plan for a start-up business. This course describes the basic forms of small business ownership and identifies the necessary financial competencies needed by the entrepreneur. It further utilizes information, financial estimates and projections, logic and critical thinking needed to recognize opportunities and to address small business problems in a multicultural, ethical and legal and competitive global environment.
This course maps out a journey of skill-building, analysis, and experience that prepares students for careers as entrepreneurs, or intrapreneurs in corporate environments to create value as they launch innovative projects at work! The skills learned in this course are particularly important as most students do not immediately start businesses out of university, but instead go to work for someone else, learn an industry, and eventually launch a venture as they develop a network and expertise. This experience forces students to test the classroom learning by engaging real customers with real ideas and real solutions. Students actively experience the highs and lows of creating and capturing value, not passively learn about others who have. Experiential learning techniques are critical to this course because they increase student engagement and excitement as students build knowledge by doing. It helps students gain transferable skills they can use to create significant value in their workplace!
| Week | Topics |
|---|---|
| 1 | Introduction to Entrepreneurship & Overview of Course Syllabus - Ch1 - pp. 2-33 - Student learning outcomes Understand your motivations for wanting to start your own business Critically assess the resources you would bring to your business Critically assess whether you have entrepreneurial character traits |
| 2 | Pilot your Purpose - Ch1 - pp. 2-33 - Student learning outcomes Understand your motivations for wanting to start your own business Critically assess the resources you would bring to your business Critically assess whether you have entrepreneurial character traits |
| 3 | Finding your Business Idea - Ch2 - pp. 34-69 - Student learning outcomes Critically assess the dimensions of your creative potential Develop your creativity and discovery skills Scan the environment for business opportunities Come up with a business idea by either creating or spotting an opportunity |
| 4 | Finding your Early Adopters - Ch3 - pp. 70-105 -Student learning outcomes Define and describe your market or industry Assess the degree of competition in your market/industry and the likely effect on profitability Undertake a SWOT analysis on yourself and your competitors Review future trends in your industry and assess how they might affect you Critically evaluate whether your business idea matches your aspirations |
| 5 | Customer Interviewing - Ch3 - pp. 70-105 -Student learning outcomes Define and describe your market or industry Assess the degree of competition in your market/industry and the likely effect on profitability Undertake a SWOT analysis on yourself and your competitors Review future trends in your industry and assess how they might affect you Critically evaluate whether your business idea matches your aspirations |
| 6 | Building Business Models - Ch4 - pp. 106-139 - Student learning outcomes Understand the meaning of the terms ‘effectuation’ and ‘lean start-up’ Understand the importance of developing a planning framework for your new venture and how a business model is developed and used for this purpose Understand the different sorts of business models that have been developed Understand the characteristics of a good business model |
| 7 | MVPs, Prototypes, Testing & Experimenting in Markets - Ch5 - pp.140-173 - Student learning outcomes Identify the values on which your start-up is based Develop a vision for your start-up and write its mission statement Identify and describe your target customer segment(s) Understand the importance of values-driven marketing and the social and commercial benefits of CSR Develop a value proposition for your product or service, appropriate for each target market segment Understand how to develop a brand identity consistent with your value proposition Decide whether your business is to be a commercial or social enterpriseCh6 - pp. 174-204 - Student learning outcomes Understand the difference between features and benefits, and how features might be engineered to provide valued benefits for customers Understand how to develop a marketing mix that supports your brand identity and delivers your value proposition to your target customer segments Decide on your channels of distribution Set your selling price(s) Use profit data to make commercial decisions |
| 8 | Planning for Entrepreneurs - Ch7 - pp. 205-233 - Student learning outcomes Understand the customer buying process and how the marketing mix can be used to encourage customers to become repeat customers and advocates of your product/service Understand how to find prospective customers throughout your distribution chain Enhance your face-to-face sales skills Write a press release Draw up a communications campaign that helps launch your business Develop a marketing strategy that launches the business |
| 9 | Midterm Exam |
| 10 | Revenue Modeling - Ch10&11 - pp. 293-372 - Student learning outcomes Identify the key activities needed to launch and operate different sorts of business Prepare Gantt charts and undertake critical path analysis Undertake a risk management process that identifies, assesses, mitigates and monitors the risks faced by business Understand how risk might be reduced through networks and partnering, financial and legal structures and appropriate approaches to financing the venture Understand the importance of keeping contribution margins high and fixed costs low Identify the critical success factors and strategic options for your business |
| 11 | Financial Modeling - Ch14 - pp.442-463 --Student learning outcomes Undertake a strategic review Explain the purpose, structure and content of a business plan Draw up a business plan for your new venture Recognize the information needs of bankers and equity investors Be able to present the plan effectively |
| 12 | Anticipating Failure - Ch12&13 - pp. 373-441 -Student learning outcomes Understand the relevance and importance of different measures of financial performance Develop the financial forecasts for your new venture – income statement, breakeven, cash flow statement and balance sheet Evaluate these forecasts of financial performance Understand how companies are valued Understand how financial information can be used to monitor and control performance |
| 13 | Pitching & Storytelling |
| 14 | Project Presentations |
| Method | Qty | % Each |
|---|---|---|
| Midterm Exam(s) | 1 | 20 |
| Presentation | 1 | 5 |
| Project | 1 | 25 |
| Case Study | 1 | 10 |
| Final Exam | 1 | 30 |
| Other | 1 | 10 |
Neck H.M., Neck C.P., Murray, E.L., Entrepreneurship: The Practice and Mindset, 2nd edition, 2022 Burns R., New Venture Creation: A Framework for Entrepreneurial Start-Ups, 2nd Edition, 2021