UNIVERSITY OF CAPE COAST SCHOOL OF BUSINESS COURSE OUTLINE/SYLLABUS, 2011/2012 BUS 408: ENTREPRENEURSHIP

Credits: 3 Pre-requisites: Level 300 courses

1.0 Instructor & Course Information Name Group Class Schedule Department Office Telephone Email/website

Daniel Agyapong BSC & BMS Mon. 730 – 1030 a.m., NLT 6 Tues. 330 – 630 p.m. B5, CCE Management Studies 1st Floor, Left wing, CCE Building, Dept of Acct and Finance General Office: 03321-37870

Abrampah A. Mensah (PhD) BCOM Thur. 730 – 1030 a.m., NLT 10 Fri. 330 – 630 p.m. NLT7 Management Studies 1st Floor, Left wing, CCE Building, Dept of Management Studies General Office: 03321-37870

http://sites.google.com/site/danagyapong.

2.0 Course Description This course provides an overview of the entrepreneurial process. The focus is on identifying and evaluating ideas; and learning the steps and competencies required to launch a successful new business. Emphasis is on developing students’ mindsets into considering entrepreneurial careers. 3.0 Learning Outcomes On completing the course participants should be able to do the following: a. Define and describe the core elements of entrepreneurship. b. Identify behavioural characteristics associated with successful entrepreneurs. c. Constantly search for, identify and evaluate business opportunities. d. Develop business plans for a small business start-up e. Take the necessary steps for the formation and operation of an entrepreneurial team. f. Mobilise resource and prepare action plans for the execution of a business plan. g. Apply effective team work principles and practices. 4.0 Topics to be Covered 1. Nature and Development of Entrepreneurship 2. The role of entrepreneurship and small business in the economy 3. The entrepreneurial process 4. Trait and behavioural characteristics of successful entrepreneurs 5. Creativity, innovation, and entrepreneurship 6. Opportunities and ideas for venture creation a. Opportunities vrs. Ideas b. Forces that create opportunities c. Evaluation of opportunities

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7. Market Assessment a. Researching the customer b. Developing a customer profile c. Assessing competition d. Macro-environmental forces, trends, and events e. Estimating market size and projecting sales f. Segmenting the market and selecting a niche 8. Business Plan Development a. Uses and importance of the business plan b. The business concept and business model c. The business plan: parts and contents 9. Entrepreneur Team Formation and Founder(s) Issues a. Importance of entrepreneurial teams b. Forming and building entrepreneurial teams c. Deciding on ownership system d. Deciding on investments, shareholdings, responsibilities, and reward system e. Development of partnership agreements f. Deciding on investment g. Incorporation of limited liability companies 10. The Start-Up Process a. Resource mobilization b. Logistics c. Action plans and time lines d. Legal aspects of new ventures 11. Entrepreneurial Finance a. General sources of finance 12. Ethics and the Entrepreneur a. Internal and external stakeholders of business ventures b. Ethical dilemmas of entrepreneurs c. Levels of ethical standards d. Ethical principles to guide entrepreneurial behaviour 5.0 Instructional Approach Instructional approaches employed in this course include the following: a. Short lectures: the lecturer provides information and explains concepts where necessary only briefly. b. Class time will be devoted to highlighting important material, demonstrating problem-solving techniques, and discussing important issues. It is assumed that you have read the assigned material carefully and completed all other assignments BEFORE class. Failure to do so will place you at a severe disadvantage to those who have. In-class discussions are an integral part of the learning environment for this class. Frequent and informed participation is expected. c. Where necessary, the lecturer will provide handouts to students.

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d. Students are encouraged to assist with identification of suitable guest speakers and in making the necessary logistical arrangements. e. Group work/team learning. Team work is emphasized. Very early in the course, students are expected to form teams. Assignments will be done in teams and learning to work in teams or groups is part of the learning outcomes of the course. 6.0 Lecture Schedule Lecture No. Topics Class preparation 1 Nature and role of entrepreneurship Formation of entrepreneurial teams. Students will form TEAMS and work in  The “entrepreneurship revolution”  Nature and evolution of the concepts the same teams throughout the course, present team assignments. of “entrepreneur” and Assignment 1: prepare a paper on any “entrepreneurship.” current issue in entrepreneurship,  The role of entrepreneurship and possibly to be published in the Journal. small business in the economy (NOT MORE THAN 12 pages).  The entrepreneurial process 2 Traits and behavioural characteristics of entrepreneurs:  The 10 PECs (MSI)  Other traits and factors 3 Opportunities and Ideas for venture creation Assignment 2: Each team identifies an  Meanings of “opportunity” and opportunity, generates a business idea ‘idea.’ and prepares a Business Concept Paper.  Forces that create opportunities (NOT MORE THAN three pages).  Evaluation of opportunities  Creativity, innovation and entrepreneurship 4  Market Assessment  Researching the customer  Developing a customer profile  Assessing competition  Macro-environmental forces, trends, and events  Estimating market size and projecting sales  Segmenting the market and selecting a niche  Product positioning 5 Business Plan development Teams are called upon to present their  Uses and importance of the business business concept. plan  Parts of a business plan  Contents of the business plan

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Entrepreneurial team formation and Founder(s) Issues  Importance of entrepreneurial teams  Deciding on ownership system  Deciding on investments, shareholdings, responsibilities, and reward system  Development of partnership agreements  Incorporation of limited liability companies The Start-Up Process  Resource mobilization  Logistics-location, physical acquisition of materials, etc.  Action plans and Time lines Entrepreneurial Finance  Obtaining venture and growth capital  Valuation, structure and negotiation  Obtaining debt capital Ethics and the Entrepreneur  Internal and external stakeholders  Ethical dilemmas of entrepreneurs  Levels of ethical standards  Ethical principles to guide entrepreneurial behaviour Presentation of Team Business Plans

Teams may be called upon to give reports on how they are approaching market assessment for their projects. Teams prepare: a. Partnership agreements b. Shareholder investment agreements c. Governance principles for Board of Directors

Teams will be expected to make outline concrete steps they will take in getting their businesses started showing specific actions and time lines. Submission of market assessment reports (NOT MORE THAN five pages).

Teams develop statements of ethical principles and social responsibility to guide their operations.

Each team will be allowed a few minutes (depending on class size) to present their business plans to the class.

7.0 Prescribed Text Barringer, B. R. & Ireland, R. D. (2008). Entrepreneurship: Successfully launching new ventures. (2nd ed.). Upper Saddle River, NJ: Prentice Hall. Boachie-Mensah, F. O. & Marfo-Yiadom, E. (2005). Entrepreneurship and small business management. Accra: Ghana Universities Press. Kurato, D. F. (2009). Introduction to Entrepreneurship (8th ed.). Toronto: South-Western Press. Kurato, D. F., & Hodgetts, R. M. (1998). Entrepreneurship: A contemporary approach (4th ed.). Fort Worth: The Dryden Press. Stoke, D., Wilson, N. & Mador, M. (2010). Entrepreneurship. Hampshire: South-Western. Timmons, J. A. (1999). New venture creation: Entrepreneurship for the 21 st century ventures. Upper Saddle River, NJ: Prentice Hall. Zimmerer, T. W. & Scarborough, N. M. (2008). Essentials of Entrepreneurship and Small Business Management (5th ed.). Upper Saddle River, NJ: Prentice Hall.

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8.0 Assessment Deadline for Submission a. Team Research Paper 20% June 20, 2012 b. Team Business Concept & Market Assessment Paper 20% July 2, 2012 c. Team Business Plan 30% July 20, 2012 e. Final Exams 30 % 9.0 Course Policies Attendance

Class participation

Assignments

Attendance does not directly affect your grade. However, you should be punctual for lectures. If you have an occasional absence, it won't be a problem as long as you keep up with the work. Attendance is required for the Business Plan Project presentations and for any guest speakers. Class participation is a major part of the performance indicators. Points will be awarded to students who evidence quality participation. Consequently, students are expected to come to lectures having thoroughly read their assigned materials. After each reading, outline the central arguments, offer your analysis of the strengths and weaknesses, and relate the material to understanding issues in the Ghanaian workplace. If for any justifiable reason the student will miss an assignment, the student should get clearance from the lecturer in advance. Retrospective permissions will not be granted. All assignments must be handed in at the stated time and in the stated form or they will automatically receive a grade of zero. Late assignments are not acceptable. It is your responsibility to retain a copy of all assignments should any questions arise later concerning that assignment. Students are to submit all assignments typed, with font size of 12, doubled spacing, good margins (justified), with an appropriate referencing style (APA style), with cover page and table of content. Students are to ensure that they comply with rules of page limit.

Late submission of assignments

Grading of group work

Academic dishonesty

Late assignments will not be tolerated. If a student has any genuine problem, he/she must contact the lecturer before the deadline for the submission of the assignment. There are no guarantees for extension of time; each case will be treated on its own merit. Unless group members present evidence to the contrary, all members of the group will be presumed to have worked equally and be entitled to the same group mark. Groups are encouraged to indicate in their reports members who did not participate in the group assignments so that they can be treated differently. Cheating and plagiarism will be severely penalized. Students are advised to acknowledge sources they consult in preparing their papers and reports. Though students are encouraged to use the Internet as sources of information, business plans copied from the internet will be rejected.

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10.0 Additional Information 10.1. Team Research Paper This assignment requires students to prepare a paper on any current issue in entrepreneurship, possibly to be published in the Journal of Business and Enterprise Development (JOBED) of the School of Business, UCC. Although any important and current issue(s) in Entrepreneurship is acceptable, themes in the area of how any of the PESTEL factors influence Entrepreneurship and Small firms in Ghana is preferred. Looking behold these, issues of succession planning and green entrepreneurship are also preferred. Students are to present their report according to the JOBED format. They should avoid plagiarism. Hint: work should follow scientific research process. Journals may be the preferred sources of information for this work. 10.2. Team Business Concept & Market Assessment Paper The format for this assignment and the scheme are found in the course manual. As much as possible, students need to be very practical and original.

10.3. Business Plan Project The business plan project will form the centerpiece and unifying theme for the course. You, along with your group members, will conceive a new business venture and plan for its marketing and financial strategies as well as all other aspects of the business. The project will involve research, data gathering, analysis, and preparation of a professional-quality business plan at the end of the semester. Graded assignments associated with this project will include written work as well as the final presentation. You will work in teams as agreed upon in class. 10.3.1 Project Objectives and Intended Outcomes: The business plan project is intended to foster the following learning objectives and outcomes:          

Gain extensive experience in business planning Challenge your resourcefulness Exercise your powers of innovation and creativity Gain an understanding of what "professional-quality output" means Improve your writing/revision skills Improve your critical thinking skills Improve your risk analysis skills Improve your research skills Improve your presentation and communication skills Improve your ability to think globally

NOTE: The validity, reliability of your source information and the appropriateness of referencing would attract marks. Plagiarism and collusion would mean cancellation of assignment.

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