Course
Discontinued
Yes
Course Code
BUSN 3404
Descriptive
Entrepreneurship and New Venture Creation
Department
Business
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
Not Specified
PLAR
No
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Contact Hours
Lecture: 3 Hours
Seminar: 1 Hour
Total: 4 Hours
Method(s) Of Instruction
Lecture
Seminar
Learning Activities
- Lectures
- Videos
- Cases studies
- Guest speakers
- Field trips
Course Description
This course is an introduction to the theoretical and practical aspects of the start-up and management of a new venture. Topics include: entrepreneurship, opportunities evaluation, business plan development, and small business management practices. Special emphasis will be placed on practical guidelines for small business importing and exporting.
Course Content
- Assessing your potential:
- characteristics of successful entrepreneurs
- skills/knowledge required to successfully start-up and manage a new venture
- a self assessment of entrepreneurship potential.
- Evaluation of a business opportunity:
- conducting a feasibility study
- assessing market potential
- assessing financial viability.
- Preparing a business plan:
- the business plan outline
- a detailed description of business plan components
- critiques of existing business plans
- course project: select a proposed business venture and prepare a detailed business plan for class presentation.
- Organizing and purchasing a business:
- forms of business ownership
- legal requirements
- business valuation
- evaluating the purchase of an existing business.
- Franchising:
- the franchise agreement
- evaluating a franchise opportunity
- establishing a franchised operation.
- Location analysis/leasing:
- selecting a location
- analyzing a lease agreement
- buy vs lease decision.
- Financing a business:
- sources of funds
- lending criteria
- negotiating a loan.
- Managing a small business:
- Key issues in the areas of
- marketing
- financial
- operations
- human resources
- Key issues in the areas of
- Importing:
- getting started
- paying for goods
- Canada Customs
- tariffs
- Free Trade Agreement
- import documents for goods
- valuation: determining value for duty.
- Exporting:
- to export or not to export?
- the market study
- making your first country visit
- exporting entry strategies
- promoting goods abroad
- export financing
- shipping goods: choosing the right transport mode.
- The Export Process:
- five stages of exporting
- export research planning
- initial sales
- expansion
- investment abroad
- Quotation and Order Processing:
- quotations
- order processing
- offers and counteroffers
- Arranging for Payment:
- insurance
- financing
- Preparing Goods for Shipment:
- packaging
- labelling
- packing
- marking
- containerization
- documentation
Learning Outcomes
At the end of the course, the successful student should be able to:
- assess his/her potential for an entrepreneurial career;
- describe the attributes, skills and knowledge required to successfully start-up and manage a new venture;
- evaluate a business opportunity by conducting a feasibility study;
- prepare a detailed business plan;
- describe and evaluate the legal forms of business ownership; and select the most appropriate form of business ownership in a given scenario;
- list and explain the primary factors to evaluate when considering the purchase of an existing business; explain and apply business valuation methods;
- define franchising; including explaining
- the critical provisions of a franchise agreement,
- the important factors to consider when evaluating a franchise opportunity, and
- the key steps to establishing a franchise operation;
- describe the key factors to evaluate when selecting a business location;
- identify and analyze the critical provisions in a lease agreement;
- describe and apply effective practices related to small business management;
- list and explain important practical guidelines related to importing and exporting.
Means of Assessment
| Midterm Examination | 15% |
| Group project and presentation | 15% |
| Business plan and presentation | 30% |
| Final Examination | 30% |
| Class participation | 10% |
| 100% |
Textbook Materials
Textbooks and Materials to be Purchased by Students
Forsythe, George R., Joan Mount and J. Terence Zinger. Entrepreneurship and Small Business Development, Latest Ed., Prentice Hall.
FITT Skills 1: Global Entrepreneurship, Latest Ed. Ottawa: The Forum for International Trade Training (FITT).
Selected readings and handouts related to importing/exporting.