ENTREPRENEURSHIP AND INNOVATION
aim | objectives | content | learning objectives | assignment | assessment | teaching | resources | equipment
MODULE 9 - BUSINESS SUCCESSES AND FAILURES
Aim
The overall aim of the module is to critically analyse the causes of business successes and failures in State and Private enterprises, and to identify the steps that must be taken to create and sustain a business venture.
General Objectives
- Briefly review the current theories on entrepreneurship and innovation.
- Organize and present cases on successes and failures in State and private enterprises.
- Present scenarios to test understanding of concepts and principles involved in successful strategies sustaining a business venture
- Explain the importance of strategic choice, alignment and implementation
- Encourage and facilitate questions and discussions around cases.
Content
The advent, diffusion and continuous development of “high technology” have contributed to an increasing number of new venture projects and “start-ups” all over the world. Venture creation has become an increasingly familiar activity to an ever-wider segment of the population, not just in America, but also in Europe, as well as in East Asia and high-potential developing countries such as India, China and Brazil.
However, while creativity and innovation led to the proliferation of new business opportunities, the proportion of new business failures has also increased. Research shows that the vast majority of new ventures fail for opportunity-related reasons:
- demand/market reasons: perhaps the target market simply won’t buy your product/service;
- industry reasons: the competition is strong and can easily steal your emerging market;
- entrepreneurial team reasons: the people engaging in the new venture may lack the wide array of competences (technical and/or economic knowledge, ability to execute, connections, propensity for risk) that are needed to deal with the vast forces that combine to bring down a new business.
During the lecture, case studies and group activities would be used to analyse, present, and critique entrepreneurial concepts related to successful business strategies. A part of the materials will be delivered in formal lecture, but the bulk of the material will be delivered through student centered learning activities, involving case studies and seminars.
Learning Objectives
- Identify and assess entrepreneurial strengths and weaknesses in State Enterprises in the private sector
- Explain the advantages, disadvantages and risks associated with business ownership
- Construct rational arguments for and against new ventures
Assignment
During the period, a few short scenarios will be given for analysis and discussion to test whether principles have been grasped.
Assessment
As for assignment. No marks will be awarded
Evaluation
A written evaluation form will be administered at the end of the module- this will measure the perceived value, and quality of the learning content and teaching method. It will allow for suggestions to be made to the teacher for improvement which will be incorporated into future planning
Teaching/Learning Strategies
To Be Advised
Resources:
- Baumol, W. J. ,'Entrepreneurship: Productive, Unproductive and Destructive'.
- Gerschenkron, Alexander ‘The Modernization of Entrepreneurship’
- Schumpeter, Joseph, “Change and the Entrepreneur” in Essays of J.A. Schumpeter, Ed. Clemence, R. Reading, MA, Addison, 1951.
- Rondstadt, Robert C., Entrepreneurship, Dover, MA Lord Pub,. 1984.
- Ireland, R.D. et.al., “Integrating Entrepreneurship and Strategic Management Action to Create Firm Wealth”, Academic of Management Executive 15(1)(2001):4963
- Quinn, J.B. Intelligent Enterprise, Free Press, NY, 1992
- Shapero, A., “The Displaced, Uncomfortable Entrepreneur”, Psychology Today (Nov 1975) 8-13.
Equipment:
N/A
