Introduction to the practical and theoretical considerations involved in entrepreneurship. Surveys the preparation of business plans, strategies for financing, market assessment, development and protection of business ideas, management, and strategies for survival for new business ventures.
Kuratko, Donald F. & Hodgetts, Richard M., “Entrepreneurship: Theory, Process and Practice”, 10th Edition (Thomson South-Western, 2017). ISBN-13:978-1-305-57624-7
COURSE OBJECTIVES: During the course we will cover the following topics:
- What is entrepreneurship? What are the common characteristics of successful entrepreneurs?
- Do I have an idea worth pursing? Is it the right time to launch a new venture?
- How can I determine if a market exists for my business idea? How will I market my business?
- How much will it cost to start and operate my business? Where can I find money?
- How do I write a business plan, select a legal structure, and protect my intellectual property?
- What are the advantages/disadvantages to alternative forms of entrepreneurship such as franchising, social entrepreneurship or not-for-profit, intrapreneurship, and buying an existing business?
TEACHING AND LEARNING STRATEGIES:
The principal vehicles for exploring the content of this course will be lectures, class discussions, videos, tests, case analysis reports and examinations. Because of this choice of approach, a high degree of class involvement is necessary to assure effective session outcomes. Readings and preparation for each class must be accomplished in advance of the class meeting.
INTENDED STUDENT LEARNING OUTCOMES: This course satisfies Hampton University competencies: 1. Critical Thinking, 2. Ethics, and 8. Written Communication; School of Business competencies: 1. Business Theory, 2. Law and Ethics, 3. Global, 5. Written Communication, 7. Critical Thinking, 8. Leadership, 9. Team Work, and 10. Technical Skills and Entrepreneurship program competencies: 1. Critical Thinking and 4. Business Knowledge.
In addition, at the completion of this course, a student should satisfy the following course competencies:
- understand and use basic entrepreneurship terms and concepts;
- recognize and provide solutions to common problems shared by many entrepreneurs;
- appreciate the research and preparation required to launch a business venture (i.e. idea development, financial, legal, marketing, business plan, ethical, etc.); and
- demonstrate leadership, teamwork, and writing ability through the successful completion of a group case analysis assignment.