Defining entrepreneurship and enterprise.

Indicative content
• Defining entrepreneurship and enterprise. The importance of entrepreneurship in the economy.
• Different perspectives in understanding entrepreneurship.
• Entrepreneurial traits and motivations
• The role of the entrepreneur: Managerial versus entrepreneurial mind set. Skills attitudes and behaviours associated with entrepreneurs.
• Developing entrepreneurial skills.
• Developing new ideas, products and services
• How to develop a business model.
• The business planning process – analysis, choice and implementation – mainly as relevant to micro business and SMEs
• Business description: business ownership/legal formats, mission and objectives
• The market and competitors: analysis of the macro/micro environment using frameworks such as SWOT, SLEPT, Porter’s 5 forces, frameworks and techniques to investigate competitors and understand customers including industry analysis and market research.
• The marketing plan (segmentation and targeting, product, price, promotion, business premises/distribution, service issues)
• Management and human resources plan: people/staffing issues including hiring and firing
• Operations and production plan: production facilities, IT requirements, and intellectual property rights issues such as copyright, trademarks and patents.
• Financial plan: e.g. sources of finance to start-up a business, costings, breakeven analysis, cash flow predictions, profit and loss accounts.
• Pitching the idea/plan: presentation techniques, documentation conventions