ENT 312: Venture Creation

Learning Outcomes

At the end of this course, students, through case study and practical approaches, should be able to:

  1. describe the key steps in venture creation;
  2. spot opportunities in problems and in high potential sectors regardless of geographical location;
  3. state how original products, ideas, and concepts are developed;
  4. develop business concept for further incubation or pitching for funding;
  5. identify key sources of entrepreneurial finance;
  6. implement the requirements for establishing and managing micro and small enterprises;
  7. conduct entrepreneurial marketing and e-commerce;
  8. apply a wide variety of emerging technological solutions to entrepreneurship, and
  9. appreciate why ventures fail due to lack of planning and poor implementation.
Course Contents

Opportunity identification: sources of business opportunities in Nigeria, environmental scanning. Demand and supply gap/unmet needs/market gaps/market research. Unutilised resources, social and climate conditions and technology adoption gap. New business development: business planning, market research, etc. Entrepreneurial finance: venture capital, equity finance. Micro finance, personal savings, small business investment organizations and business plan competition. Entrepreneurial marketing and e-commerce.

Principles of marketing, customer acquisition and retention. B2B, C2C and B2C models of e- commerce. First mover advantage, e-commerce business models and successful e-commerce companies. Small business management/family business. Leadership & management: basic book keeping, nature of family business and Family Business Growth Model. Negotiations and business communication: strategy and tactics of negotiation/bargaining. Traditional and modern business communication methods. Opportunity Discovery Demonstrations: business idea generation and presentations. Business idea contest, brainstorming sessions, idea pitching, etc. Technological Solutions: the concepts of market/customer solution, customer solution and emerging technologies. Business Applications of new technologies: Artificial Intelligence (AI), Virtual/Mixed Reality (VR), Internet of Things (IoTs), Blockchain, Cloud Computing, Renewable Energy, etc. Digital business and e-commerce strategies).