Understanding the Entrepreneurial Spirit

RATIONALE 

Entrepreneurship is increasingly recognised as vital to economic growth and is a career path of those wishing to embark on the journey of building their own business ventures. However, entrepreneurship is not only a profession but a lifestyle making it important that one possesses an entrepreneurial spirit. It is very important to understand the entrepreneurial spirit because living an entrepreneurial lifestyle enables one to advance in life; personally, and professionally. The entrepreneurial spirit thus influences the lifestyle of an entrepreneur. This module will introduce the concept and fundamentals of entrepreneurship and explore basic marketing principles in various industries which are undergoing rapid change. It also examines the diverse nature of entrepreneurs, their characteristics and motivations, as well as the barriers and issues facing entrepreneurs when planning and establishing a new venture. In this module, we study, discuss and research with a combination of traditional and contemporary business development understandings, methods, theories and tools in order to facilitate you starting your own business or developing a new business concept for an existing company. 

AIMS 

Through the completion of this module students will: 

• Gain an understanding of the theoretical and practical frameworks that underlie entrepreneurial start-ups.  
• Obtain knowledge and understanding of key aspects of business planning, financing, evaluating risk and how innovation creates competitive advantage  
• Develop marketing knowledge and skills, including the role of entrepreneurial marketing and marketing processes  
• Understand how entrepreneurial marketing contributes to business start-up and growth. 
• Develop entrepreneurial skills that foster engagement with various stakeholders for business development. 

LEARNING OUTCOMES  

On successful completion of this module, students will be able to: 

1. Recognise and assess the scope and characteristics of entrepreneurship  
2. Demonstrate a critical understanding of entrepreneurship and entrepreneurs. 
3. Demonstrate knowledge of the significance of marketing to entrepreneurial activities. 
4. Develop personal entrepreneurial skills and behaviour to individually be able to establish a business, interact with and convince various stakeholders.