Enterprise Project
aman_2910
EPLecture1Introduction2020.pptxEnterprise Project UMCD9Q-30-3
Presentation by
Dr Akin Ojolo
Module Leader
September 2019
Welcome……
What the module’s about…..
An ‘Enterprise project’, where you develop a professional-quality business plan, which can be based on either of the following possible scenarios:
a) A comprehensive and detailed business plan for a proposed new business. Or,
b) A comprehensive and detailed business plan for an existing business in which you are substantially involved (NB: SEE HANDBOOK)
Creativity AND feasibility
Delivery structure
Enterprising, creative, practical module
Based on ‘learning by doing’
Teaching structure
First semester:
Block 1 W/C 26th October - 15-19 incl. one lecture / week (Recorded)
Weeks 15- 19 incl. one workshop / week (Online Live)
Block 2 W/C 15th February:
4 Weeks one lecture / week
4 Weeks one workshop / week
Key Resources
Module handbook
Blackboard
Textbooks
Barringer, B. R., and Duane Ireland, R. 2016. Entrepreneurship: Successfully Launching New Ventures, 5th ed., Upper Saddle River, New Jersey: Pearson Education Inc.
Paul Burns, 2018. New Venture Creation- A Framework for Entrepreneurial Start-Ups Second Ed.
Teaching Team:
Dr Akin Ojolo – Module Leader
Ms Wendy Longden
Dr Davis Clayton
Dr Basil Omar
Mr Azley Razak
Supervisors
Key Resources
Supervisor
Supervisor’s role
Managing the supervision process
Supervisory logs
Reading drafts
Assessment process
Proposal form
Return online to me the week w/c 23rd November.
Assessments
Element A1: Business plan (90% weighting, submission Tuesday by 14.00 on 22/4/21 (8000 words)
Element A2: Individual poster presentation (10% weighting, date Saturday 15/5/21)
Lecture topics
Introduction to the Enterprise Project module and concept of entrepreneurship
Opportunity recognition
Understanding value, demand and competitors
Creating and delivering value
Business models and legal structures
Resource planning
Sources of funding and financial analysis
Writing the business plan
Workshop topics
Assessment brief - Ideas and opportunities and thinking differently?
Understanding value
Narratives to action
Elevator pitch 1.0
Assessment brief - Business model and resource planning
Data collection
Data analysis and financial analysis
Writing up
Thinking about value…..
What makes a good business plan?
Using theory?
Previous (and current) learning
To support thinking
Shouldn’t be visible
Bibliography
Challenges
Dissertation = No assignment ‘question’
Timing / planning / scheduling
Evidence, evidence, evidence!......
What to do next?
Firstly, you need an idea….(or better still, an opportunity)….
Context….story - entrepreneurship
Entrepreneurs - are those persons (business owners) who seek to generate value through the creation or expansion of economic activities by identifying and exploiting new products, processes or markets
Entrepreneurial- activity is enterprising human action in pursuit of the generation of value through the creation of economic activities, by identifying and exploiting new products, processes or markets
Entrepreneurship- is the phenomenon associated with entrepreneurship activity.
Definitions of entrepreneurship
Entrepreneurship
Economic perspective
Personality perspective
Social behavioural
perspective
Economic perspective
The role of entrepreneurship and its contribution to economic growth have different interpretations
Kirzner – process of being alert to profit opportunities- Entrepreneurs drive the market forward towards efficient outcomes by exploiting profit opportunities
Schumpeter – contributes to economic development through the process of creative destruction with new innovation replacing the old ones
Combines positive and negative sides
Economic perspective
Entrepreneurship is recognised as a crucial element in fostering economic growth and development
- Why is entrepreneurship crucial to economic growth?
Economic perspective
Economic growth occurs when people take resources and rearrange them in ways that are valuable (Romer, 2007)
Metaphor of a kitchen
To create valuable products we mix inexpensive ingredients according to a recipe. The cooking one can do is limited to the SUPPLY of ingredients - if economic growth could achieved only by doing more and more of the same kind of cooking we will eventually run out of raw material….”Better recipe not just more cooking”
Economic perspective
The process of entrepreneurship is considered to:
Create and stimulate competition
Drive innovation
Create employment
Increase productivity- by introducing technological change
Provide a route out of poverty
(Powell, 2007)
Personality perspective
The entrepreneur as a person (Wickham, 2006)
The great person
Social misfit
Personality type
Personality trait
Ability trait –specific abilities
Temperamental trait- how we do what we do
Dynamic traits- why we do what we do – internal drive
Social perspective
Social development approaches- output of internal psychological and external social factors
In this view entrepreneurs are born not made
“While their predisposition may be important, it does not have any meaning in isolation from their experiences”
Innate - intelligence, creativity ambition, motivation etc..
Acquired – learning, training etc
Social – birth order, family life, socio-economic group, parental occupation, society and culture etc..
What makes a good Business plan
Strong argument
Independent thought
Sound judgement
Clarity
Awareness of complexity
Identification and understanding of key issues
Excellent use of information
Successful synthesis of the key issues
Reading
Allen, K.R., 2009. Launching New Ventures : An Entrepreneurial Approach. 5th ed. Boston : Houghton Mifflin.
Barringer, B. R., and Duane Ireland, R. 2016. Entrepreneurship: Successfully Launching New Ventures, 5th ed., Upper Saddle River, New Jersey: Pearson Education Inc.
Paul Burns, 2018. New Venture Creation- A Framework for Entrepreneurial Start-Ups Second Ed.
Richard Blundel & Nigel Lockett- Exploring Entrepreneurship practices and Perspectives
Bridge, S., O’Neil, K and Cromie, S (2003) Understanding enterprise, entrepreneurship and small business. Basingstoke: Palgrave
Workshop 1
© 2019 UWE Bristol
www.uwe.ac.uk
Understanding value
Delivering value
Appropriating value
