Assignment Instructions for Entrepreneurship (part 1. 1500 words)
Chose a case study of an entrepreneurial journey of someone, and show understanding od of a number of entrepreneurial concepts, ability to apply these in meaningful, insightful and balanced way.
.showing understanding and application of concepts analyzing the entrepreneurial process, role of entrepreneur and outcomes using Timmons themes..
Tasks: discuss briefly the terms of entrepreneur and entrepreneurship
Select an entrepreneur and illustrate with examples to what extent Timmons core theme and desirable attribute to them (tabulate if possible)
Critically evaluate whether these attribute alone fully explain successful launch and growth of your enterprise venture and other critical factors
…..from experience and understanding of entrepreneurship, conclude a successful launching and growing of new venture with examples from academic literature
Show how the learning impacted your behavior or social enterprise and how the learning impacted your ability to becoming an entrepreneur
Draw multiple data sources, academic literature to demonstrate a thorough and grounded understanding entrepreneurial process.
Background of enterprise and source of the idea, how the idea was translated into opportunity.
The role of the entrepreneurs and how they coped with risks and uncertainty
Role of the environment
Role of social capital
Types of resources used and how they were acquired
The role of luck
Difference between theory and practice
Part 2 (1000 words)
Identify, develop and evaluate a business idea and distinguish an “idea” from the opportunity.
Show understanding of entrepreneurship concepts and its meaningfulness
Explore the business idea and construct a business model
Evaluate whether the idea is feasible or not…
Eg do a
Product service description
Financial projection of one year cash flow and profit and loss break even, investment requirement
Evaluation of business model
Supporting docs were necessary
Indicating how much investment requirement
Evaluation of business model as possible, including personal skills
Evaluate concepts indicating;;; strength, and weakness of concepts
Are business concepts feasible?
Would one pursue the venture why or why not?
Target customers concepts
Test the concepts, enhance business model,
Timmons , J.A and Spinelli, S. (2009). New venture creation, entrepreneurship for the 21sr century, 8th edition, international edition. New york McGraw- hill, Irwin.
Thomas J.L (1999) The world of the entrepreneur- a new perspective, the journal of workplace learning
Gibb, A A (2000) SME policy. Academic research and the growth of ignorance, mythical concepts, myths, assumptions, rituals and confusions, International small business journal
Kirby, D (2003) Entrepreneurship. Maidenhead: Mcgraw-Hill Education
Rae D. (20007) Entrepreneurship: from opportunity to action. Basingstoke: palgrave macmillan
Stokes S. and Wilson N. (2006) small business management and enterpreneuship, 5th edition, London; Thomas learning