ENTR 4751: 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, competences 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.
Learning outcomes
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.
Course topics
- Module 1: Entrepreneurs and the Meaning of Entrepreneurship
- Module 2: Idea Generation and Feasibility Studies for New Venture
- Module 3: New Venture Marketing Research, Financial Projections, and Funding
- Module 4: New Venture Legal Structures, Team Development, and Risk Analysis
Required text and materials
-
Osterwalder, Alexander, and Yves Pigneur. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. (2010) John Wiley & Sons.
Type: Textbook, ISBN: 978-0-470-87641-1 -
Wise, Sean. Hot or Not: How to Know If Your Business Idea Will Fly Or Fail? (2011) Ryerson Entrepreneurship Institute.
Type: Textbook, ISBN: 978-1-46802-449-4
Additional requirements
Students require a computer and Internet access.
Assessments
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.
| Assignment 1: Meaning of Entrepreneurship | 12% |
| Assignment 2: Idea Generation | 12% |
| Assignment 3: New Ventrue Marketing and Financing | 12% |
| Assignment 4: New Venture Structures and Risk Analysis | 12% |
| Assignment 5: Course Engagement | 12% |
| Final Project: Business Plan* | 40% |
| Total | 100% |
* Mandatory
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
