Entrepreneurship (New Venture Creation)
This course explores the fundamental requirements of an entrepreneurial intervention within a specific business environment. Entrepreneurship is evaluated in relation to personal attributes, personalities and abilities. The economic environment of the entrepreneur is discussed with the purpose of equipping the candidate with the ability to analyze the environment in which the new venture is planned. Participants are required to develop and present a business plan for the proposed new venture.
- Three days contact time including facilitation and group activities
- 30 days self-study after which participants are to submit their Portfolio of Evidence
Upon completing this course, participants should be able to:
- Describe entrepreneurship
- Describe the characteristics of a successful entrepreneur
- Develop individual entrepreneurial characteristics
- Explain methods to enhance an entrepreneurial profile
- Identify, gather and analyze the relevant information needed to compile a plan for a new venture
- Formulate an ethical framework for the operational plans of a venture
- Establish and prioritize business, financial and/or operations goals and objectives for new venture • Design and present business, financial and/or marketing plans based on a budget for a new venture
- Explain the free market system in terms of perfect and imperfect competitive markets
- Analyze the interaction of demand and supply in price determination
- Analyze the factors that influence economic activity
- Describe the development and significance of markets
- Manage new venture registration processes and comply with all other legislation requirements with various authorities such as Registrar of Companies, Department of Labor, Compensation Commission, etc.
- Outline the key success and failure factors of new ventures
- Identify and describe the character traits of a successful entrepreneur
- Assess own entrepreneurial characteristics and mind-set
- Utilize effective networking and teamwork strategies in the entrepreneurial context
- Seek and utilize professional advice to supplement competencies
- Identify and assess business ideas/opportunities for a new venture
- Understand and identify an appropriate business structure for a new venture
- Explain competitive market forces
- Discuss and illustrate the interaction of demand and supply in price determination
- Determine capital requirements of a new venture
- Produce a business plan
- Identify and compare funding options for a new venture
- Identify risks associated with the specific business; and
- Manage finances of a new venture including cash-flow management as a crucial success of a new venture
Our study guides include:
- Complete guide to study materials
- Self-contained guide with all module requirements
- Examples and case studies
- Clear learning outcomes
- Activities that can be completed individually or as part of a team
Different modules have different assessments ranging from individual presentations, group presentations and written assignments.
In addition, our program features:
- Tutor-marked assignments
- End-of-module assessments
- A written examination
- Textbooks are provided in most modules
- An IIT Certificate of Competence will be awarded to all delegates who successfully submit and are found competent on their Portfolios of Evidence (PoEs).
- An IIT Certificate of Attendance will be awarded to all delegates who do not submit a PoE within the specified timeframe after attending the three days of training.
This course assumes that the student has a fundamental understanding of business as well as possesses the necessary English literacy to understand the contents of this course. This course is aimed at all levels of the workforce and aims to improve time management and organizational skills.