This course emphasizes the aspect of fostering an entrepreneurial culture among students so that they can appreciate entrepreneurial values in their daily lives. Students will be exposed to the basics of entrepreneurship in terms of history, concepts, and theory, and the development of individual entrepreneurs in terms of skills and behaviors to become successful entrepreneurs. The students are also exposed to the development of creative and innovative skills to enable them to identify business opportunities whether they are profit or non-profit. This course will also expose students to several methods of starting a business that can be used by entrepreneurs in small or medium industries (SMEs).

Synopsis

This course is divided into 14 topics. The synopsis for each topic can be listed as follows:

Topic 1 students will learns theories and concepts, defining entrepreneurship, its significance in the Malaysian economy, corporate entrepreneurship, and the characteristics of successful entrepreneurs.

Topic 2 students will learns recognizing opportunities and generating ideas in entrepreneurship, covering three methods for identifying opportunities, the personal characteristics of entrepreneurs, the role of creativity, the opportunity recognition process, various techniques for idea generation, and strategies for fostering innovation.

Topic 3 students will learn the essential aspects of feasibility analysis, delving into a comprehensive examination of industry/target market feasibility and the key components of organizational feasibility analysis.

Topic 4 students are guided the process of crafting a robust business model by addressing its foundational elements, including an overview of general categories, the core strategy, resource allocation, financial considerations, and operational aspects.

Topic 5 students will learn the critical components of industry and competitor analysis, encompassing an examination of the industry landscape, the impact of industry and firm-level factors on performance, studying trends within the industry, employing the Five Competitive Forces Model, conducting competitor analysis, and exploring various sources of competitive intelligence.

Topic 6 students will learn the essential components of a business plan, including its definition, the rationale behind its preparation, the recommended format, and the key elements comprising its main body.

Topic 7 students will explore the various forms of business entities and types available for entrepreneurs, providing insights into starting a business from scratch (START UP), acquiring a franchise, and buying an existing business.

Topic 8 students will focuses on the critical aspects of financial management for a new business, covering the financial objectives, the process of financial management, ratio analysis, forecasts, and the creation of pro forma financial statements.

Topic 9 students will focus is on the critical components of assembling a successful team for a new venture.

Topic 10 students will explores the intricacies of the funding and financing process for new ventures.

Topic 11 students will learn specific challenges in marketing strategies, covering topics such as market segmentation, the selection of a target market, and the establishment of a distinctive market position.

Topic 12 students will learn the significance of safeguarding intellectual property is explored, encompassing key concepts such as patents, copyrights, and trademarks.

Topic 13 students will identify the proactive steps required to prepare for business expansion, providing insights into effective growth management and addressing the inherent challenges that accompany business growth.

Topic 14 students will study both internal and external approaches for fostering the expansion of a business.

COURSE LEARNING OUTCOME

By the end of this course, you should be able to:

1.   Explain the evolution, concept, and importance of entrepreneurship and differentiate between traders, managers, and entrepreneurs. (C1,PLO1)

2.   Identify processes, techniques, and obstacles to creativity and innovation and explain the macro and micro environment in addition to identifying business opportunities. (C1, PLO3)

3.   Implement the requirements of the basic elements of the business plan as well as the guidelines in its preparation. (C3, PLO2).

4.   Discuss the pros and cons of each type of business and identify networking techniques and challenges in building a network. (C3, PLO4)