Introduction to EntrepreneurshipLaajuus (3 ECTS)

Objective

Entrepreneurship is a pattern of behaviour that enables us to recognise, pursue and exploit opportunities regardless of the resources we currently control. The task facing the entrepreneur is both complex and challenging. Opportunities are fleeting and often difficult to evaluate, resources are scarce and there exists the ever present threat of competition. In this harsh commercial environment we need to proceed quickly but with caution, we need self-confidence but also to recognise that we can’t do it all alone.

Content

The objective of this course, therefore, is to guide students through the ‘exciting nightmare’ of taking an idea or a technology to market, growing the venture and securing a successful exit. Although grounded in rigorous theory, the focus of the course is highly practical and class participation is actively encouraged. No prior knowledge of the subject is required but students should be interested in the creation of wealth and the commercialisation of technology.


Overview
1. The Environment For Entrepreneurship
- Process of Business Analysis Seeing the window
2. Entrepreneurial Strategies – Choosing direction
- Exercise for writing a Business Plan
3. Process of Business Analysis Seeing the window
- Scanning
- Monitoring
- Forecasting
- Sources of Opportunity
- Competitive Analysis
4. Crafting a Personal Strategy Part 1-Sources of ideas
5. Good Friday Assignment Day-no contact lesson Research your Subject.
- Look in Creating a Successful Financial Plan
- Review the 12 Key Ratios
6. The Business Plan – an entrepreneurial tool
- Why write the Business Plan
- Elements
- Critique of the Plan
- Format and Presentation of one’s plan

Course contents (additional)
• Developing new Business ideas
• Screening Opportunities
• Planning and implementation

Assessment criteria, satisfactory (1)

The student understands the key principles of a profitable business.

Assessment criteria, good (3)

The student can use and adapt the key principles of a profitable business.

Assessment criteria, excellent (5)

The student understands the key principles of profitable business in different company types. The student shows his/her responsibility in his/her studies during the whole course.