Entrepreneurship is the practice of starting new organizations, particularly new businesses, generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a majority of new businesses fail. New business success typically requires a rare combination of innovation, technical skills and entrepreneurial drive and know-how. Too often start-up companies fail because, while their founders may have a brilliant technical idea, they lack the business experience required to create an effective business model. The course focuses on the exploitation of innovation, applied to technology and business knowledge, to increase the chances of success for new product or service based businesses.
On completion, successful candidates will be able to:
- Generate value propositions targeted at focussed customer segments.
- Identify and evaluate communication and relationship management channels for appropriate customer segments.
- Assess and evaluate the possible revenue streams for a particular business model
- Identify the core capabilities and processes required to enable the business.
- Devise partner strategies to support the business.
- Estimate the costs of establishing and maintaining the business.
- Understand and apply appropriate methods for sales functions.
- Apply the different types of innovation to their thinking in establishing a business model.
- Understand the life style and emotional challenges that face an entrepreneur.
- Understand the legal requirements and challenges that may face them.