Entrepreneurship and New Business Formation (NBF)

Course Description: 

The purpose of the course is to provide a creative and innovative insight on managerial practices for the successful creation and growth of new business ventures. It provides an overview of the entrepreneurial process, that explores the many dimensions of new venture creation to foster innovation and establish an independent corporate environment. The course highlights entrepreneurial trends in a new economy and helps in carrying out various marketing and industry analysis, along with an idea of strategic and operations planning, business principles and values, financial groundworks, and venture capital.

The course is designed in a way that not only addresses the theoretical aspects of the subject matter, but also incorporates the application of the entrepreneurial process whereby, the students write a business plan and therefore, learn about sustainable practices and entrepreneurship in real business life scenario.

Course Objectives: 

Students, hereby, gain the skill and knowledge to:

  • Understand critical concepts and major foundations of business planning and entrepreneurial undertakings
  • Understand and apply business principles to successfully launch and manage a new venture
  • Develop the ability to recognize a business venture with attractive market and economic feasibility
  • Develop analytical and critical skills to present a written business plan for a prospective start-up  
  • Exhibit financial and management skills necessary to succeed in a competitive busniess environment
  • Manage resources, people, and processes necessary for the effective and efficient operations of any business venture
  • Analyze the global business environment and locally implement feasible business strategies with higher possibilities of success.
  • Successfully predict and deal with uncertainties for a business venture and take measures to overcome them  
Course Syllabus: 

Introduction to Entrepreneurship 

  • What is Entrepreneurship?
  • Why become an Entrepreneur?
  • Characteristics of successful Entrepreneurs
  • Changing Demographics of Entrepreneurs
  • Importance of Entrepreneurship
  • Entrepreneurial Process

Developing Successful Business Idea

  • Recognizing Opportunities and Generating Ideas 
    • Identifying and Recognizing Opportunities
    • Finding Gaps in the Market Place
    • Techniques for Generating Ideas
    • Protecting Ideas
  • Feasibility Analysis
    • Product/Service Feasibility Analysis
    • Industry/Target Market Feasibility Analysis
    • Organizational Feasibility Analysis
    • Financial Feasibility Analysis
  • Writing a Business Plan
    • Reasons for writing a Business Plan
    • Who reads It?
    • What are they looking for?
    • Guidelines for writing a Business Plan
    • Presenting the Business Plan to Investors
  • Industry and Competitors Analysis
    • Industry Analysis
    • Studying Industry Trends
    • Competitors Analysis
  • Developing an Effective Business Model
    • Business Models
    • Components of an Effective Business Model
       

Moving from an Idea to an Entrepreneurial Firm

  • Preparing the Proper Ethical and Legal Foundation
    • Initial Ethical and Legal Issues Facing a New Firm
    • Obtaining Business Licenses and Permits
    • Choosing a Form of Business Organization
  • Assessing a New Venture's Financial Strength
    • Financial Management
    • Financial Statements and Forecasts
    • Pro-Forma Financial Statements
  • Building a New Venture Team
    • Creating a New Venture Team
    • Recruiting and Selecting Key Employees
    • Roles of Board of Directors
    • Board of Advisers
    • Lenders and Investors
    • Other Professionals
       
  • Getting Financing or Funding
    • Importance of Getting Financing and Funding
    • Source of Equity Funding
    • Sources of Debt Financing
    • Creative Sources of Financing and Funding

Managing and Growing an Entrepreneurial Firm

  • Marketing Issues
    • Selecting a Market and Establishing a Position
    • Key Marketing Issues for a New Ventures
    • The 4Ps of Marketing for New Ventures
  • Importance of Intellectual Property
    • Importance of Intellectual Property
    • Trademarks
    • Copyright
    • Trade Secrets
  • Preparing for and Evaluating the Challenges of Growth
    • Preparing for Growth
    • Reasons for Growth
    • Managing Growth
    • Challenges of Growth
  • Strategies for Firm Growth
    • Internal Growth Strategies
    • External Growth Strategies