Assignment Instructions for Entrepreneurship (part 1. 1500 words)

Chose a case study of an entrepreneurial journey of someone, and show understanding od of a number of entrepreneurial concepts, ability to apply these in meaningful, insightful and balanced way.

.showing understanding and application of concepts analyzing the entrepreneurial process, role of entrepreneur and outcomes using Timmons themes..

Tasks: discuss briefly the terms of entrepreneur and entrepreneurship

Select an entrepreneur and illustrate with examples to what extent Timmons core theme and desirable attribute to them (tabulate if possible)

Critically evaluate whether these attribute alone fully explain successful launch and growth of your enterprise venture and other critical factors

…..from experience and understanding of entrepreneurship, conclude a successful launching and growing of new venture with examples from academic literature

Show how the learning impacted your behavior or social enterprise and how the learning impacted your ability to becoming an entrepreneur

Draw multiple data sources, academic literature to demonstrate a thorough and grounded understanding entrepreneurial process.

Consider :

Background of enterprise and source of the idea, how the idea was translated into opportunity.

The role of the entrepreneurs and how they coped with risks and uncertainty

Role of the environment

Role of social capital

Types of resources used and how they were acquired

The role of luck

Difference between theory and practice

Part 2 (1000 words)

Identify, develop and evaluate a business idea and distinguish an “idea” from the opportunity.

Show understanding of entrepreneurship concepts and its meaningfulness

Explore the business idea and construct a business model

Evaluate whether the idea is feasible or not…

Eg do a

Product service description

Market research

Financial projection of one year cash flow and profit and loss break even, investment requirement

Evaluation of business model

Supporting docs were necessary

Indicating how much investment requirement

Evaluation of business model as possible, including personal skills

Evaluate concepts indicating;;; strength, and weakness of concepts

Are business concepts feasible?

Would one pursue the venture why or why not?

Target customers concepts

Test the concepts, enhance business model,

Rreferences:;;

Timmons , J.A and Spinelli, S. (2009). New venture creation, entrepreneurship for the 21sr century, 8th edition, international edition. New york McGraw- hill, Irwin.

Thomas J.L (1999) The world of the entrepreneur- a new perspective, the journal of workplace learning

Gibb, A A (2000) SME policy. Academic research and the growth of ignorance, mythical concepts, myths, assumptions, rituals and confusions, International small business journal

Kirby, D (2003) Entrepreneurship. Maidenhead: Mcgraw-Hill Education

Rae D. (20007) Entrepreneurship: from opportunity to action. Basingstoke: palgrave macmillan

Stokes S. and Wilson N. (2006) small business management and enterpreneuship, 5th edition, London; Thomas learning