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Entrepreneurship: Course outline (MGT-531)

Course description

The overall aims of Entrepreneurship course are To enhance entrepreneurial attitude among students by imparting confidence in them by having them hands on experience of small entrepreneurial activity. This will contribute towards economic development of Pakistan, as these students will soon be in the market and will be contributing in the economy in a better way through entrepreneurial activities.

Course content

Weeks

Course Content

Week 1

The Challenge of Entrepreneurship

  • The World of the Entrepreneur
  • What is an Entrepreneur?       
  • The Benefits of Entrepreneurship
  • The Potential Drawbacks of Entrepreneurship 
  • Behind the Boom: Feeding the Entrepreneurial Fire
  • The Cultural Diversity in Entrepreneurship   
  • The Power of “Small” Business
  • Putting Failure into Perspective
  • The Ten Deadly Mistakes of Entrepreneurship
  • How to Avoid the Pitfalls     

Idea Discussions & Selection for student Projects

Islamic Ethics of Entrepreneurship

Week 2

Inside the Entrepreneurial Mind: From Ideas to Reality

  • Creativity, Innovation, and Entrepreneurship
  • Creativity – Essential to Survival
  • Creative Thinking
  • Barriers to Creativity
  • How to Enhance Creativity
  • The Creative Process
  • Techniques for Improving the Creative Process
  • Protecting Your Ideas

Idea Discussions & Selection for student Projects

Week 3

Designing a Competitive Business Model and Building a Solid Strategic Plan

  • Building a Competitive Advantage
  • The Strategic Management Process
  • Formulate strategic options and select the appropriate strategies
  • The Balanced Scorecard

Execution of Student Project

Week 4

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

  • Conducting a Feasibility Analysis
  • Why Develop a Business Plan?
  • The Elements of a Business Plan
  • What Lenders and Investors Look for in a Business Plan
  • Making the Business Plan Presentation

Feed Back & Suggestions on Student Project

Week 5

Forms of Business Ownership The Entrepreneur Interview – Discussion

  • The Sole Proprietorship
  • Other Forms of Ownership    

Feed Back & Suggestions on Student Project

Week 6

Franchising and the Entrepreneur

  • Types of Franchises
  • The Benefits of Buying a Franchise
  • The Drawbacks of Buying a Franchise
  • Franchising and the Law
  • The Right Way to Buy a Franchise
  • Trends Shaping Franchising

Feed Back & Suggestions on Student Project

Week 7

Buying an Existing Business

  • Buying an Existing Business
  • Steps in Acquiring a Business
  • Evaluating an Existing Business: The Due Diligence Process
  • Methods for Determining the Value of a Business
  • Negotiating the Deal

Feed Back & Suggestions on Student Project

Week 8

Building a Powerful Marketing Plan

  • Building a Guerrilla Marketing Plan
  • Pinpointing the Target Market
  • Determining Customer Needs and Wants Through Market Research
  • Plotting a Guerrilla Marketing Strategy: How to Build a Competitive Edge

Feed Back & Suggestions on Student Project

Islamic Ethics for Entrepreneurial Marketing

General description

This class addresses the unique entrepreneurial experience of conceiving, evaluating, creating, managing, and potentially selling a business. The goal is to provide a solid background with practical application of important concepts applicable to entrepreneurial environment. Entrepreneurial discussions regarding the key business areas of finance, accounting, marketing and management include the creative aspects of entrepreneurship. The course relies on classroom discussion, participation, guest speakers, case analysis, the creation of a feasibility plan, and building a business plan to develop a comprehensive strategy for launching and managing a business. Students will need to draw upon their business education and experience, and apply it to the task of launching a new venture. Students are expected to interact with the business community, advisors, be able to work effectively in teams, and be active participants in classroom discussions and exercises.

Course content

 

Week 9

E-Commerce and the Entrepreneur Phase II Discussion

  • Factors to Consider before Launching into E-Commerce
  • Ten Myths of E-Commerce
  • Strategies for E-Success
  • Designing a Killer Web Site
  • Tracking Web Results
  • Ensuring Web Privacy and Security

Feed Back & Suggestions on Student Project

Week 10

Pricing Strategies

  • Three Potent Forces: Image, Competition, and Value
  • Pricing Strategies and Tactics
  • Pricing Strategies and Methods for Retailers
  • The Impact of Credit on Pricing

Feed Back & Suggestions on Student Project

Week 11

Creating a Successful Financial Plan

  • Basic Financial Statements
  • Projected Financial Statements
  • Ratio Analysis
  • Interpreting Business Ratios
  • Breakeven Analysis

Feed Back & Suggestions on Student Project

Week 12

Managing Cash Flow

  • Cash Management
  • Cash and Profits
  • The Cash Budget
  • The “Big Three” of Cash Management

Feed Back & Suggestions on Student Project

Week 13

Sources of Financing: Debt and Equity Phase III Discussion

  • Planning for Capital Needs
  • Sources of Equity Financing
  • Corporate Venture Capital
  • Sources of Debt Capital
  • Federally Sponsored Programs
  • Small Business Administration (SBA)

Project Presentations

Week 14

Choosing the Right Location and Layout

  • Location: A Source of Competitive Advantage
  • Location Criteria for Retailers and Service Businesses
  • Location Options for Retail and Service Businesses
  • The Location Decision for Manufacturers
  • Layout and Design Considerations
  • Layout: Maximizing Revenues, Increasing Efficiency, or Reducing Cost

Project Presentations

Week 15

Global Opportunities

  • Why Go Global?
  • Strategies for Going Global   
  • The Exporting Process
  • Barriers to International Trade
  • International Trade Agreements

Project Presentations

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