New Venture Creation
Students develop the skills, values, and attitudes needed for success as an entrepreneur whether starting a new venture from scratch, joining or acquiring an existing business, or creating a new venture inside a larger organization. The primary activity is the development of a comprehensive business plan. Topics include an overview of entrepreneurship and small business in Canada; entrepreneurial mindset, characteristics, competencies and ethics; creativity, idea generation and feasibility studies; business plans; part-time and full-time entrepreneurship; location and capacity planning; marketing research for new ventures; financing new ventures; creating a financial plan; legal structures and issues; new venture development team; risk analysis and management;and reviewing, identifying and evaluating educational technologies.
FNCE 2121 and MKTG 2431
Upon successful completion of this course, students will be able to:
- Explain the entrepreneurial process, the evolutionary development and the role of entrepreneurship as growth engine of national economies.
- Develop insights into entrepreneurial mindset, characteristics and ethics.
- Develop creativity, idea generation including assessment of opportunities.
- Conduct new venture feasibility studies.
- Conduct marketing research and develop marketing plans based on the research.
- Prepare sound and realistic financial projections for the new ventures.
- Discuss different ways of financing new ventures and the implications of each approach.
- Develop insights into the legal issues relating to new ventures including selection of appropriate legal structures.
- Perform the risk analysis and develop a risk management plan for new ventures.
- Develop a business plan.
- Lesson 1: Introduction to Entrepreneurship: Entrepreneurship and Small Businesses in Canada
- Lesson 2: Entrepreneurs: Characteristics, Competencies, and Ethics
- Lesson 3: New Venture Creation: Creativity, Idea Generation, and Feasibility Studies
- Lesson 4: Modes of Entry: Part-time and Full-time Entrepreneurship
- Lesson 5: The Business Plan
- Lesson 6: Marketing Research and Marketing Plan
- Lesson 7: Operations -- Location and Capacity Planning
- Lesson 8: Financing New Ventures -- Start-Up Costs and Performance Projections
- Lesson 9: Sources of Financing for New Ventures
- Lesson 10: Legal Structures and Legal Issues
- Lesson 11: The Organization and New Venture Team Development
- Lesson 12: Risk Analysis and Management
Maximum Completion13 weeks.
Required Text and Materials
Katz, Jerome A. and Richard P. Green. Entrepreneurial Small Business. 4th edition. McGraw-Hill Irwin, 2014.
Type: Textbook, ISBN: 13 978-0-07-802942-4
Students require a computer and Internet access.
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Primary communication is through the Learning Management System's "Mail" tool. Students will receive the necessary contact information when starting the course.
To successfully complete the course, students must achieve a passing grade of 50% or higher on the mandatory Final Research Project and in the overall course.
A high standard of written and verbal expression is expected for the following assignments.
|Final Research Project *||40%|