BUSN 1210 - Entrepreneurship Fundamentals

Credit Hours: 3.00

Objectives: Given an assignment(s) the learner, with a minimum proficiency of Level 3 on the discipline rubric, will be able to:

1. Discuss the characteristics and behaviors of successful entrepreneurs.
2. Identify international entrepreneurship opportunities.
3. Distinguish the differences between an entrepreneur and intrapreneur.
4. Understand the associated risks of a new business venture.

Outcome 2: Upon successful completion of BUSN-1210, the student will be able to describe the various business planning tools utilized by an entrepreneur.

Objectives: Given an assignment(s) the learner, with a minimum proficiency of Level 3 on the discipline rubric, will be able to:

1. Describe the major elements of a marketing plan.
2. Discuss the development of a business plan.
3. Describe the sources for funding a new business venture by preparing a financial plan.
4. Describe the components of an organizational plan.

Outcome 3: Upon successful completion of BUSN-1210, the student will be able to demonstrate an understanding of the legal and ethical responsibilities required by an entrepreneur.

Objectives: Given an assignment(s) the learner, with a minimum proficiency of Level 3 on the discipline rubric, will be able to:

1. Explain the entrepreneurial balance of ethical, economic, and social responsibilities.
2. Describe how an entrepreneur’s vision and values contribute to the culture of a new venture.

Outcome 4: Upon successful completion of BUSN-1210, the student will be able to explain the methods and sources for creating and starting a new entrepreneurial venture.

Objectives: Given an assignment(s) the learner, with a minimum proficiency of Level 3 on the discipline rubric, will be able to:

1. Discuss the product/service planning and development process.
2. Determine the sources of new product/service ideas.
3. Analyze the risks and benefits of bringing products/services to market.
4. Explain the process of intellectual property development.

Outcome 5: Upon successful completion of BUSN-1210, the student will be able to identify the sources of funding that are available for a start-up venture.

Objectives: Given an assignment(s) the learner, with a minimum proficiency of Level 3 on the discipline rubric, will be able to:

1. Familiar with the types of funding options available to the entrepreneur.
2. Able to discuss Small Business Administration loans.
3. Able to explain the nature of the venture capital industry and the venture capital decision process.

1. Nature and Importance of Entrepreneurs
   1. Definition of the entrepreneur today
   2. Entrepreneurial decision process
   3. Role in economic development
   4. Future of entrepreneurship
2. Entrepreneurial and Intrapreneurial Mindset
3. Individual Entrepreneur
   1. Feelings
   2. Background
   3. Characteristics
   4. Motivation
   5. Minority entrepreneurship
   6. Entrepreneurship vs. inventors
4. International Opportunities
5. Creating and Starting the Venture
   1. Sources of new ideas
   2. Opportunity recognition
   3. Product planning and development process
6. Legal Issues
   1. Intellectual property
   2. Patents
   3. Trademarks
   4. Copyrights
7. Business Plan
8. Marketing Plan
9. Organization Plan
10. Financial Plan
11. Capital Sources
    1. Personal funds
    2. Family/friend funds
    3. Commercial bank
    4. Small business financing
    5. Informal risk capital
    6. Venture capital
12. Managing Growth
    1. Generating and exploring new ideas
    2. Strategies for growth
    3. External sources
    4. Going public
13. Ending the Venture
    1. Bankruptcy
    2. Reality of failure and warning signs
    3. Exit strategy