Focuses on the opportunities and challenges involved with starting acquiring, owning and operating new business ventures. Examines the three primary strategies used by entrepreneurs to acquire a new business venture and create personal wealth.
REQUIRED TEXTS: Scarborough, Norman M. “Effective Small Business Management: An Entrepreneurial Approach” 10th Edition (Person Prentice Hall 2012). ISB No.: 978-0-13-215746-9
PREREQUISITES: ETR 210 – Introduction to Entrepreneurship
COURSE OBJECTIVES: During the course we will cover the following topics:
- The diversity of entrepreneurs and the challenges of entrepreneurship.
- The theory and practice of successful entrepreneurship.
- The 10 sections of a business plan for a start-up venture: executive summary, business description, marketing, financials, management, operations, harvest strategy, critical risk, milestone schedule, and appendix.
- The elevator speech and business plan presentation.
- Evaluating a business idea from the perspective of an investor or venture capitalist.
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.
STUDENT COMPETENCIES: This course satisfies Hampton University competencies: 1. Critical Thinking, 4. Information and Technology Literacy, 5. Oral Communications, 6. Quantitative Reasoning, and 8. Written Communication; School of Business competencies: 1. Business Theory, 2. Law and Ethics, 3. Global, 4. Quantitaive Methods, 5. Written Communication, 6. Oral Communication, 7. Critical Thinking, 8. Leadership, 10. Techincal Skills; and Entrepreneurship program competencies: 1. Critical Thinking, 2. Individual Creativity, 3. Strategic Analysis and 4. Business Knowledge.
In addition, at the completion of this course, a student should be able to:
- demonstrate knowledge and understanding of key entrepreneurship terms and concepts that relates to new venture creation and small business management;
- identify and analyze issues in new venture creation/small business management and propose possible solutions;
- engage in independent research of the practical and theoretical aspects of entrepreneurship through an interview of an entrepreneur/small business owner;
- demonstrate the ability to communicate research findings in written and oral delivery;
- research, write, and evaluate a business plan for a new venture; and
- make an effective business plan presentation and “elevator” speech to investors.
- interview a successful entrepreneur or business owner and present information in written and oral delivery.