ENTREPRENEURSHIP AND INNOVATION
aim | objectives | content | learning objectives | assignment | assessment | teaching | resources | equipment
MODULE 1 - ENTRPENEURSHIP
Aim
The aim of this module is to expose students to the fundamentals of innovation and entrepreneurship and to introduce them to the processes of thinking critically and creatively toward turning an idea into a successful and dynamic business.
General Objectives
- To introduce students to creative and critical thinking elements that will stimulate unconventional ways of thinking about processes.
- To inspire students to think of themselves as entrepreneurs
- To introduce the pillars of entrepreneurship and innovation to support the deeper development of a business idea and writing up of a workable business plan.
- To foster an appreciation among the students of the important role of businesses in the Caribbean and inspiring them to rise to the challenge of entrepreneurial creation.
These objectives will be accomplished with reference to the fundamental theories of entrepreneurship and analysis of relevant case studies.
Content
This module will introduce students to basic concepts of entrepreneurship and innovation. The module is also designed to provide an appreciation of innovative and entrepreneurial behaviour and the importance of entrepreneurial activities to societal and economic development and innovative practices for wealth creation.
The module will introduce students to the process of turning an idea into a successful startup business and will help students to identify their own personal goals and unique skills and competencies related to the entrepreneurial process. A primary focus of this course will be to guide the student to think critically and creatively and develop the potential to be a successful entrepreneur. Students will discuss the critical role that opportunity recognition and creation play in that process.
The module will assist students to adopt a strategic vision of enterprise in a global setting. Students will also examine how entrepreneurs and investors create, find, and differentiate money-making and robust opportunities from “good ideas.”
Learning Objectives
Students will be able to:
- Explain the basic concepts of entrepreneurship and innovation
- Describe idea-generation methods
- Determine the feasibility of an idea as a potentially successful business entity
- Identify interests and capabilities.
- Distinguish among the entrepreneurial discovery processes.
- Assess opportunities for entrepreneurship and innovation
- Determine the potential for success in starting and running a business
- Assess global trends and opportunities for entrepreneurship
- Assess individual business ideas to determine viability, possibilities and options
Assignment
Individual presentation on a business idea (20 minutes) and an individual report on the characteristics of a successful business plan including an initial assessment of the key challenges and opportunities which a well-defined business idea (student and facilitator to determine this through dialogue and consultation) must confront.
Assessment
The presentation, as well as the report will be graded. Achievement of 50% or more will allow the student to pass the module.
Evaluation
Students would be asked to complete an evaluation instrument eliciting responses on the adequacy of material, effectiveness of teaching methods and usefulness of readings and case studies.
Teaching/Learning Strategies
Lecture, Presentation of “live” cases for analysis and discussion.
Resources:
Readings:
- Schumpeter, J. Change and the Entrepreneur, in Essays of J.A. Schumpeter, Ed. Reading, Clemence, R., Reading, MA, Addison, 1951.
- Nelson, R.E. Entrepreneurship: Theory, Process, Practice
- Entrepreneurship Education in Developing Countries.
- Darwin B. Nelson and Gary R. Low. Emotional Intelligence. Edition: First Edition. Publisher: Prentice Hall. Year: 2003 ISBN: 0-1-094762-8
- Robert A. Baron and Scott A. Shane, Entrepreneurship - A Process Perspective. Edition: First. Publisher: Thomson-Southwestern. Year: 2005 ISBN: 0-324-27356-8
- McGrath, R.G. & MacMillan, I. The Entrepreneurial Mindset. Harvard Business School Press, 2000. ISBN 0-87584-834-6
- Harvard Business Review on Entrepreneurship. Harvard Business School Press,
Relevant articles, case studies and web-sites will be provided.
Equipment:
Multimedia equipment
