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ENTREPRENEURSHIP AND INNOVATION

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MODULE 2 - REGIONAL ENTREPRENEURSHIP

 

Aim

The overarching aim of this module is to provide students with a comprehensive knowledge of the underlying concepts and principles that are central to entrepreneurial activity and the environments in which entrepreneurs operate. Students will be able to understand the role and importance of these concepts in the development and success of small business.

 

General Objectives

 

The general objectives of this module are to develop the knowledge and understanding of underlying factors that are fundamental to the entrepreneurial success. In this module, students will be guided to relevant published books, journal articles, materials on the web, and relevant case studies.

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Content

Regional Entrepreneurship is a subject that involves various concepts and theories that will be discussed in this module. Drawing on academic and policy research the module explores functional dimensions of entrepreneurship in the context of socio-cultural, economic and political factors. The module is structured around following core concepts and themes.

  • Internal and external environments of the enterprise and how they influence or impact on entrepreneurial behaviour and business performance
  • National social, economic and political environment
  • National economic environment and effects of government policies on entrepreneurship
  • National policies for small and medium-sized enterprises
  • How national politics and political stability affect entrepreneurial activity
  • Social and cultural factors
  • Role of technology and innovation in the business arena
  • Regional and international environment and global forces
  • Regional politics and policies (e.g. CARICOM)
  • The global economy and globalisation process
  • Opportunities, issues and challenges for entrepreneurs
  • National, regional and international comparative advantage and competitiveness
  • Environmental challenges
  • Global challenges
  • Social responsibility and business ethnics
  • Analytical tools for strategy formulation
  • SWOT analysis
  • PEST analysis

 

Learning Objectives

 

By the end of this module students will be able to:

  • Describe the functional dimensions of entrepreneurship in the context of socio-cultural, economic and political factors.
  • Identify of key elements of the internal and external aspects of entrepreneur’s environment and their dynamic interaction.
  •  Identify unique strengths and weaknesses in a variety of products and services.
  • Compare and contrast the socio-cultural, economic, political and technological issues related to entrepreneurial activity.
  • Analyse internal and external environment using analytical techniques (SWOT and PEST).
  • Assess opportunities for venturing into regional and international entrepreneurship.
  • Demonstrate positive attitudes towards entrepreneurship especially towards entrepreneurial skills and the perception of new business start-up.

Assignment

A group presentation (20 minutes) and an individual report (1500 words). The module facilitator will decide the topic of the presentation and report.

 

Assessment

Overall mark of 50% is required to achieve a pass in the module. Presentation and report will be assessed on their ability to demonstrate an understanding of theories and concepts related to regional entrepreneurship in the context of internal and external (national, regional and international) environments. They should also demonstrate the ability to apply concepts, theories and analytical tools to assess the strategic position of a business unit.

 

Evaluation

Evaluation will be by student questionnaires and verbal feedback to module facilitator.

 

Teaching/Learning Strategies

Lectures, seminars, presentations and case study presentation by a guest speaker.

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Resources:

Text books:

  1. Morrison, Janet (2006) The International Business Environment: Global and Local Marketplaces in a Changing World, Second Edition, Palgrave Macmillan.
  2. Schumpeter, J. A. (1934) The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle. Harvard University Press: Massachusetts.
  3. Porter, M., E. (1990) The Competitive Advantage of Nations. MacMillan: London.
  4. Barber, J., Matcalfe, J. S. and Porteous, M. (1989) Barriers to Growth in Small Firms. Routledge: London.
  5. Bridge, S., O'Neill, K. and Cromie, S. (1998) Understanding Enterprise, Entrepreneurship & Small Business. MacMillan: London.
  6. Brunetti, A., Kisunko, G. and Weder, B. (1997b) Institutional Obstacles to Doing Business: Region by Region Results from a World-Wide Survey of the Private Sector. World Bank.
  7. Talaly, M., Farrands, C. and Tooze, R. (1997) Technology, Culture and Competitiveness: Change and World Political Economy, Routledge: London and New York
  8. Wint, A. Competitiveness in Small Developing Countries.

 

Journal articles

  1. Acs, Z. J. and Preston, L. (1997) Small and Medium-sized Enterprises, Technology, and Globalisation: Introduction to a Special Issue on Small and medium-sized Enterprises in the Global Economy Small Business Economics, 9, 1-6
  2. Ryan, S. Taimoon Stewart. Entrepreneurship in the Caribbean: Culture, Structure, Conjecture.

 

Internet URLs and web-based reports

 

Equipment:

Multimedia equipment

 

 

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