BMNV5103 Full Version Study Guide PDF

STUDY GUIDE
BMNV5103
New Venture Development
CENTRE FOR GRADUATE STUDIES
STUDY GUIDE
BMNV5103
Writer:
Assoc Prof Dr Intan Osman
Developed by:
Centre for Instructional Design and Technology

Open University Malaysia
First Edition, August 2012

Copyright Open University Malaysia (OUM)
All rights reserved. No part of this work may be reproduced in any form or by any means
without the written permission of the President, Open University Malaysia.
STUDY GUIDE
BMNV5103
STUDY GUIDE
BMNV5103
INTRODUCTION TO STUDY GUIDE

This Study Guide is intended for Open University Malaysia's BMNV5103
New Venture Development course. It comes in TWO parts, as described
below:
Part One comprises the Course Introduction, which gives you an overview
of the course. More specifically, it provides you with the course synopsis,
objectives, learning outcomes and study load. There is a brief description of
the main textbook(s), which you must read to fulfil the course requirements.
There is also a list of additional reading references. You are encouraged to
go into myVLE to check out the assessment, assignment and final
examination formats.
Part Two comprises the Learning Guide. This starts with an overview, a
recommended weekly study schedule to guide your learning process, and a
brief description of the various elements in the Learning Guide. There is also
a list of topics to be covered. For each topic, you are given the specific
learning outcomes, a topic overview and a listing of the focus areas, together
with assigned readings and the pages where information on the focus areas
is found. To consolidate your learning and test your understanding, a
summary of the main content covered and study questions are provided at
the end of each topic.
Finally, there are two appendices, Learning Support and Study Tips, to
help you walk through the course successfully.
Please read through this Study Guide before you commence your course.
We wish you a pleasant study experience.
STUDY GUIDE
BMNV5103
Contents
Part One: Course Introduction ................................................................... 5
Synopsis ............................................................................................ 5
Objectives .......................................................................................... 5
Learning Outcomes ........................................................................... 6
Study Load ......................................................................................... 7
Main Textbook(s) .............................................................................. 7
Assigned Readings ............................................................................ 7
Additional Recommended Readings.................................................. 8
Assessment ....................................................................................... 8
Part Two: Learning Guide .......................................................................... 9
An Overview ...................................................................................... 9
Topic 1 ............................................................................................ 11
Topic 2 ............................................................................................. 15
Topic 3 ............................................................................................ 18
Topic 4 ............................................................................................ 22
Topic 5 ............................................................................................ 25
Topic 6 ............................................................................................ 28
Topic 7 ............................................................................................ 31
Topic 8 ............................................................................................ 34
Topic 9 ............................................................................................ 38
Topic 10 .......................................................................................... 41
Appendices ................................................................................................ 45
Appendix A: Learning Support ......................................................... 45
Appendix B: Study Tips.................................................................... 46
STUDY GUIDE
BMNV5103
PART ONE: COURSE INTRODUCTION

Synopsis
This course introduces you to a business discipline that requires you to
address issues related to new business set up and management. You will be
exposed to some entrepreneurship scenarios and how entrepreneurship
revolutionises across cultures. You will also learn about business
opportunities that are available to individuals who want to start their own
business as well as those who are already engaged in some economic
activities and entrepreneurship but wish to venture into a new business.
Topics include environmental scanning to assess a business opportunity in
order to anticipate what resources, costs, rewards, financial needs and
problems this new development would bring; developing an effective
business plan specifying the need to develop and present a well-conceived
document on vision, management team, development and design plan,
marketing plan, manufacturing/operations plan, market research, financial
plan, risks and rewards and succession planning. The course will help
students to understand resource requirements and venture growth through
capital debts for short-term and long-term investment. Students will learn
how entrepreneurs address and manage the direction and process of
entrepreneurship through Growth Models and Life-Cycle concepts; and the
challenges the new venture would bring and how entrepreneurs plan
succession and business continuity.
Objectives
The general aims of this course are to:
1.
Provide an understanding of how entrepreneurship education, mind,

thinking and innovative practices revolutionise across cultures;
2.
Develop an understanding and knowledge of how to assess a business

opportunity;
3.
Identify the types of resources, costs and challenges as well as

personal attributes, competencies and experience which would be
needed to start a new business;
4.
Define the need to develop a well-conceived and feasible business

plan;
5.
Provide ideas on how to raise venture capital and other types of

financing; and
6.
Evaluate issues related to the problems and pitfalls a new business

would bring.
STUDY GUIDE
BMNV5103
Learning Outcomes
By the completion of this course, you should be able to:
1.
Explain what entrepreneurship, entrepreneurship education and

transformation mean;
2.
Link the roles of educators in teaching and curricula development as

well as those of practitioners that influence the fuelling of
entrepreneurship innovators across firms and socioeconomic groups in
the community;
3.
Assess critical aspects of entrepreneurial mind and strategy in

entrepreneurship;
4.
Describe the characteristics and attributes of entrepreneurs who

succeed in creating and innovating a new business;
5.
Identify personal talents, strengths and weaknesses that would match

business opportunity and exploitation;
6.
Articulate the concepts of idea and opportunity; think big; and

sustainabililty lens that are related to the entrepreneurial process;
7.
Describe the roles of ideas, pattern recognition, screening opportunities

and idea seeking, and link these to venture opportunities and social
entrepreneurship;
8.
Anticipate and identify the kinds of resources, such as human,

financial, structure and other modes of support, required to start a new
business;
9.
Develop a business plan that specifies the need to have a business

mission, human capital wih responsibilities, operation or service
structure, supply chain management, marketing and promotion
strategy, financial management and succession and planning;
10.
Use resources from venture capital financing to enable investment in

short, medium and long-term capital financing and commitment; and
11.
Conceptualise, contextualise and identify characteristics of Growth and

Life-Cycle Theories in order to build strategies to overcome issues and
pitfalls related to business growth and sustainability.
STUDY GUIDE
BMNV5103
Study Load
It is a standard OUM practice that learners accumulate 40 study hours for
every credit hour. As such, for a three-credit hour course, you are expected
to spend at least 120 hours of learning. Table 1 gives an estimation of how
the 120 hours can be accumulated.
Table 1: Allocation of Study Hours
Activities
No. of Hours
Reading course materials and completing exercises
60
Attending 5 seminar sessions (3 hours for each session)
15
Engaging in online discussions
15
Completing assignment(s)
20
Revision
10
Total
120
Main Textbook(s)
Spinelli, S., Jr., & Adams, R. J. (2012). New venture creation.
Entrepreneurship for the 21st century (9th ed.). New York: McGraw-Hill
International Edition.
Assigned Readings
Drucker, P. F. (2007). Innovation and entrepreneurship. New York: McGrawHill.
Timmons, J. A., & Spinelli, Jr., S. (2009). New venture creation.
Entrepreneurship for the 21st century (8th ed.). New York: McGraw-Hill
International Edition.
STUDY GUIDE
BMNV5103
Additional Recommended Readings

Byrd, M. J., & Megginson, L. (2008). Small business management:
An entrepreneurs guidebook. US: McGraw-Hill.
Dollinger, M. J. (2007). Entrepreneurship: Strategies and resources (4th ed.).
US: Marsh Publications LLC.
Kariv, D. (2012). Female entrepreneurship and the new venture creation:
An international overview. Oxford: Routledge.
Mariotti, S. (2007). National foundation for teaching entrepreneurship. US:
Prentice Hall.
Moore, C. W., Petty, J. W., Palich, L. E., & Longenecker, J. G. (2008).
Managing small business. An entrepreneurial approach. US: SouthWestern Cengage Learning.
Assessment
Please refer to myVLE for information on the assessment format and
requirements.
STUDY GUIDE
BMNV5103
PART TWO: LEARNING GUIDE

An Overview
This Learning Guide is arranged by topic. It covers essential content in
the main textbook and is organised to stretch over TEN study weeks, before
the examination period begins. Use this Learning Guide to plan your
engagement with the course content. You may follow the recommended
weekly study schedule in Table 2 to help you progress in a linear fashion,
starting with Week 1.
Table 2: Recommended Weekly Study Schedule
Topic
Week
Topic 1:
Entrepreneurial Education, Transformation and

Innovative Practices
Topic 2:
Entrepreneurial Mind and Process
Topic 3:
Opportunity Scanning and Resource Analysis
Topic 4:
Venture Opportunities Screening and Social

Entrepreneurship
Topic 5:
Introduction to a Business Plan: Knowing its Elements

and Requirements
Topic 6:
Entrepreneurial Leadership and Team Membership
Topic 7:
Resource Requirements and Franchising
Topic 8:
Financing and Obtaining Entrepreneurial Ventures and

Growth
Topic 9:
Leadership in Rapid Growth, Crises and Recovery
Topic 10: Managing Family Entrepreneurship and Resources
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STUDY GUIDE
BMNV5103
Each topic in the Learning Guide comprises the following sections (refer to
Figure 1):
x
Learning Outcomes: outline the specific tasks to be accomplished;
Topic Overview: briefly explains what the topic touches on so as to

provide a general interpretative framework for understanding the topic
content;
Focus Areas: identify the main and sub areas to be covered;
Assigned Readings: help you to navigate the main textbook and reading
materials;
Content Summary: provides an interpretative framework for understanding

the core content; and
Study Questions: help you to focus on key subject areas.
Figure 1: Organisation of the Learning Guide
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STUDY GUIDE
Topic 1:
BMNV5103
Entrepreneurial Education, Transformation

and Innovative Practices
Learning Outcomes
By the end of this topic, you should be able to:
1.
Define and explain what entrepreneurship and entrepreneurhip

education mean;
2.
Explain the terms of new education, new management and

philantrophy paradigm in entrepreneurship; and
3.
Link entrepreneurship education, learning paradigm and innovative

practices to the creation of jobs and economic engines of a nation.
Topic Overview
This topic highlights the concepts of entrepreneurship, entrepreneurship
education and practices that are the engines of economic growth and job
creation. It describes and demonstrates how entrepreneurship is gained
through education and curriculum development, starting with primary to
tertiary education. It also explains how teachers and educators who are
trained in entrepreneurship can help non-business and technical students
acquire entrepreneurial skills by doing projects and analyse real cases of
doing business.
Students will be provided with a framework, showing entrepreneurship
education, and innovation and equity creation that influence
entrepreneurship practices and outcomes such as job creations, economic
growth and services across cultures and global orientation. The roles of
educators, researchers, management experts and practitioners are seen as
revolutionary and transforming as well as enablers that promote the fuelling
of entrepreneurship among small and medium enterprises and marginalised
groups within the community.
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STUDY GUIDE
BMNV5103
Focus Areas and Assigned Readings

Focus Areas
Assigned Readings
Spinelli, S., Jr., & Adams, R. J. (2012).
New venture creation. Entrepreneurship
for the 21st century (9th ed.). New York:
McGraw- Hill International Edition.
1.1
1.2
1.3
1.4
Entrepreneurship: A Micro
Phenomenon and
Transformation Force
Entrepreneurial
Transformations: New
Management, New Education,
Philanthropy and Beyond
Business Schools Orientation
Entrepreneurship Innovation,
Revolution, Education, Policy
and Diversity (Women,
Marginalised Groups and Youth)
Entrepreneurship: Equity
Creation and Enterprise Society
Chapter 1, pp 36.
Chapter 1, pp 69.
Chapter 1, pp 1018.
Chapter 1, pp 1921.
Additional Readings:
http://www.weforum.org/issues/education/
Chapter 1, pp 3031.
Timmons, J. A., & Spinelli, Jr., S. (2009).
McGraw-Hill International Edition.
Content Summary
This topic highlights the main features of entrepreneurship education,
thinking processes, innovative practices, new management paradigm and
transformation force, how entrepreneurship creates business activities and
develops companies, job creation and economic growth.
1.1
Entrepreneurship: A Macro Phenomenon and Transformation

Force
x
The information on Web entrepreneurs from Europe, South

America and Asia Pacific penetrate the world with their products
and services.
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STUDY GUIDE
1.2
The usefulness of Babsons Global Entrepreneurship Monitor

(GEM), 2006, the Praeger Perspectives series and the Engine of
Growth for tracking the level of entrepreneurial dynamism and
activities in a broader and varied patterns across the globe.
The broad objectives of entrepreneurship include injecting

entrepreneurial mindsets, motivating more people to become
entrepreneurs and creating a more supportive regulatory and
administrative framework for entrepreneurs.
Entrepreneurship transforms the world through entrepreneurship

thinking and reasoning, a new education paradigm for learning
and teaching, a dominant management model for running nonprofit businesses and social ventures as well as going beyond
business schools to engineering, life sciences, architecture,
medicine etc.
Entrepreneurship Transformation: A New Management

Paradigm
x
1.3
BMNV5103
As a new management paradigm, entrepreneurship fosters flat

organisations which are not constrained by layers and
hierarchies, enabling innovative and chaotic ideas, teamwork,
consensus decision making and efforts to drive the organisation
for superior performance and incentives sharing.
Entrepreneurship: A New Education Paradigm and Thinking

Revolution
x
As a new education paradigm, entrepreneurship employs real

cases and brings real entrepreneurs (practitioners) to the
classroom and discussions.
Entrepreneurship education has created a new educating/

teaching and learning paradigm that enables students to learn
differently on both content and methodology which will eventually
permeate the classrooms and universities.
Educators and teachers are enablers who help students to learn

through various modes and engage them in case discussions,
project work and interviewing business founders, amongst others.
Entrepreneurship beyond business schools demonstrates how

curricula development in many business schools penetrate
other disciplines such as engineering, medicine, life sciences, and
architecture to build entrepreneurs across disciplines.
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STUDY GUIDE
1.4
BMNV5103
Highly entrepreneurial thinkers and doers are responsible in

creating the energy effect by becoming change agents or movers
and shakers. They bring their entrepreneurial ways of thinking,
behaviours and doing their courses, research and institutions.
Entrepreneurship: A New Philanthropy Management Paradigm

x
As a new philanthropy management paradigm, entrepreneurship

creates a not for profit or social organisation which uses the
concepts and principles to conceptualise a new idea and
transform into an opportunity, gather resources, raise funds and
grow the management team just like any other business entity.
Study Questions
1.
What is the pattern of economic growth in Malaysia, and/or other

Southeast Asian countries? Which sector(s) contributes the most? How
and why?
2.
How do you define entrepreneurship, new entrepreneurship education

and paradigm?
3.
Has entrepreneurship development in academic curricula evolved over

the years? Give examples.
4.
Using Steps 1 to 3 (p 23 of the main text), conduct an interview with an

entrepreneur and evaluate what you have learned (p 24 of the main
text).
5.
Refer to ImageCafe case (pp 2633 of the main text) and answer
Preparation Questions 1 through 5.
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STUDY GUIDE
Topic 2:
BMNV5103
Entrepreneurial Mind and Process
Learning Outcomes
1.
Understand that entrepreneurs can be men and women who have

different aspects of entrepreneurial mind and strategy;
2.
Describe the characteristics and attributes that are shared by

entrepreneurs who demonstrate success in creating and innovating a
new business;
3.
Develop concepts for entrepreneurship apprenticeship and strategy in

order to craft an entrepreneurship creed; and
4.
Describe a model of entrepreneurial process and its uses in business

ideas and a career in entrepreneurship.
Topic Overview
This topic highlights that entrepreneurs can be men or women who come
from different socio-economic backgrounds and orientation. Entrepreneurship
starts when the mind is able to see the opportunity that can be turned into
business ideas. The concepts of entrepreneurial thinking is a start to craft
entrepreneurial creed and behaviours that encourage entrepreneurship.
Entrepreneurial characteristics that demonstrate commitment and
determination, courage, leadership, entrepreneurial orientation (risk taking,
innovativeness), self reliance, opportunity obsession and motivation to excel
are desirable in any new business venture. The topic also highlights that
entrepreneurship involves processes and models that are used to turn ideas
into innovative ventures.
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STUDY GUIDE
BMNV5103

Focus Areas
Assigned Readings
2.1
2.2
2.3
2.4
2.5
2.6
Leadership and Entrepreneurship

Desirable Characteristics and
Attributes of Entrepreneurs
Entrepreneurial Thinking and
Apprenticeship
Personal Strategy: Self
Assessment and Profiling
Entrepreneurial Process:
Understanding the Thinking,
Innovating and Doing
The Timmons Model: Linking
Theory to Practice
Chapter 2, pp 3537.
Chapter 2, pp 3742.
Chapter 2, pp 4248.
Chapter 2, pp 4952.
Chapter 3, pp 8793.
Chapter 3, pp 95102.
Understanding the Timmons Model of
Entrepreneurship
http://www.brighthub.com/office/entrepr
eneurs/articles/73336.aspx
Content Summary
x
Specific entrepreneurial mind, characteristics and attributes are desirable

in a new venture.
Entrepreneurs are not born but made and they come from different socioeconomic backgrounds and orientation.
Successful entrepreneurs share several common themes that explain

their attitudes and how they think and act.
Entrepreneurial behaviours are inherent in seven attitudes commitment

and determination, courage, leadership, opportunity exploitation, risk
taking, creativity and motivation to excel which can be nurtured,
developed, trained and used in entrepreneurial pursuits.
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STUDY GUIDE
BMNV5103
Apprenticeship is critical in gaining entrepreneurial know-how and

experience is gained over 10 years or more after the age of 21 among
most entrepreneurs.
Entrepreneurial thinking needs to be reexamined, starting with how we

define entrepreneurship and its process and learning experience.
Thinking big may have the benefits of realising higher returns and
learning from big and small companies failure may improve the process
and development of entrepreneurship significantly.
The model derived from Timmons has three driving elements

opportunity, the team, and resources which are useful in recognising
and building the higher-potential venture. The model is validated by
research studying CEOs of fast-growth ventures across the United
States.
Study Questions
1.
Define and explain what constitutes the entrepreneurial mind.
2.
Is an entrepreneur born or made? Explain.
3.
Why are the seven themes of characteristics and attributes critical in

crafting and developing successful entrepreneurs? Give an example of
a successful entrepreneur having these attributes.
4.
How does self-assessment contribute to the selection of potential

entrepreneurs?
5.
Do Exercise 2 which will assist you in gathering data, evaluating the

data collected and developing a personal strategy.
6.
Explain what is meant by entrepreneurship process and how it differs

from the concept of entrepreneurship. Give examples to substantiate
your explanation.
7.
What can you understand from Timmons Model and how best can you
apply it to your entrepreneurial aspirations and ideas for business?
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STUDY GUIDE
Topic 3:
BMNV5103
Opportunity Scanning and Resource

Analysis
Learning Outcomes
1.
Describe what opportunity seeing is and how it relates to market

demands and needs;
2.
Justify why we need to gather information related to products and

services;
3.
State why sustainability factors are very important in building dynamic

and profitable business ventures;
4.
Discuss the differences between an idea and an opportunity and

explain their roles in crafting entrepreneurship; and
5.
Explain sources of information that would be needed in identifying,

screening and generating new venture opportunities.
Topic Overview
The topic highlights the concepts of seeing opportunity through a
sustainability lens. It involves opportunity scanning related to information and
resource seeking. It provides students with understanding and knowledge on
how to differentiate between an idea and an opportunity, access market
demands needs, identify resources and costs as well as finding and
screening venture opportunities. Students will gain information and learn that
opportunity analysis via a zoom lens based on the criteria used by highly
performed entrepreneurs, angels and venture capitalists is critical in
evaluating potential ventures. The three idea generation highlighted in the
topic is highly usable in generating new venture ideas and capitalising
personal criteria.
18
STUDY GUIDE
BMNV5103

Focus Areas
Assigned Readings
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
Opportunity Scenario: Clean

Commerce and the Sustainability
Lens
Entrepreneurial Opportunities: The
Driving Forces
Thinking Patterns: The Realities in
Using An Idea as an Opportunity
Ideas as Tools, the Great
Mousetrap Fallacy, the Experience
Factor
Creativity: What and How
Opportunity Screening: Selected
Criteria
Information and Data Collection
Chapter 1, pp 46.
Moore, Petty, Palich & Longenecker.
Entrepreneurial Opportunities.
Content Summary
x
Sustainability is about resources that should not be used at a rate faster

than the rate of replacement, and waste generation should not exceed
the current capacity of the surrounding ecosystem.
Entrepreneurial leaders integrate sustainability principles into their

operations and strategies in advancing a distinct entrepreneurial and
innovative business model for the future.
Sustainability issues related to natural resources (such as shortage of

water and energy) need different economic models.
19
STUDY GUIDE
BMNV5103
Information on new scientific findings and perspectives induced

companies to initiate actions to protect their shareholders and
stakeholders.
Products unsafe for consumption in one country but not to another get
lobbied.
A true entrepreneurial leader is a visionary who creates new ventures

that protect the integrity of natural systems. An entrepreneur thinks
bigger but not the traditional business owner.
Opportunity recognition process differs and varies in thinking systems

and context.
An opportunity is characterised by attractiveness, durability and timely

offering of the products/services with added value to the end user,
usually through difficult and complex problem solving.
Opportunities are spawned by various factors: Changes in economy,

technology, or even chaos, inconsistencies in the enterprise systems.
These changes and the ability to anticipate these changes are very
critical in entrepreneurship.
The first step in the entrepreneurial process is idea identification.
Usually an inventor (entrepreneur) goes through a series of trial and error

iterations, or repetitions before coming up with the crude products and
services to meet customer needs.
The great mousetrap fallacy assumes that success could be achieved if

an entrepreneur can generate a new idea. However, many ideas cannot
be used and is not practical and it is important to improve on these ideas.
Experienced entrepreneurs demonstrate ability to sense and recognise a

pattern and an opportunity quick enough while it is in the process of
shaping up the experience factor.
Creativity can be learned and enhanced; an important implication for

entrepreneurs who desire to become creative in thinking. Creativity is
inherent in most people. To unleash creativity, entrepreneurs must be
free from conventional thinking and attachment.
Opportunity focus is essential in screening opportunities.
Criteria for evaluating venture opportunities are based on the industry

and market, economics, harvest issues such as value-added potentials,
competitive advantage issues, sustainability, management team,
personal criteria and strategic differentiation, criteria used by successful
entrepreneurs, angels, private investors and venture capitalists.
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STUDY GUIDE
BMNV5103
Higher potential businesses are able to recognise a market niche

for a product/service that meets customers needs and provide high
value-added benefits to them.
Good profits after tax, time to break-even, cash flow and capital
requirements are elements of good economics.
Being the lowest-cost producer and carrying the lowest marketing and
distribution cost; having existing teams that are strong and competent; a
good match between the requirements of businesses and the founders
vision are the characteristics of an attractive opportunity.
Buying an existing business, franchising, patenting, product licensing,

corporations, universities, not-for-profit research institutes, industry and
trade contacts, distributors, competitors, former employers, professional
contact, consulting and networking are all sources of information that
entrepreneurs could use to find potential opportunities.
Study Questions
1.
What is sustainability? How does it relate to entrepreneurial

opportunities?
2.
Cite two examples of projects that you are familiar with you have
read/picked up from the Internet that contain elements of sustainability.
3.
How do you know if your idea can become an opportunity?
4.
What are the sources of ideas that would help you find good
opportunities? Where would you search for the information?
5.
What can you project as the potential drivers of economy and growth in
Malaysia 10 years from now? Please elaborate.
6.
Do Exercise 3 (pp 155) of the main text (Steps 13).
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STUDY GUIDE
Topic 4:
BMNV5103
Venture Opportunities Screening and Social

Entrepreneurship
Learning Outcomes
1.
Recognise when a good idea becomes a truly good opportunity;
2.
Describe the elements of a good idea that could become an

opportunity;
3.
Describe the two screening methodologies QuickScreen and the

Venture Opportunity Screening Exercises (VOSE) to assess if the
ideas are potential opportunities;
4.
Give suggestions to improve both the fit and the risk and reward
relationship;
5.
Explain social entrepreneurship and how it differs from traditional

entrepreneurship.
6.
Apply the Timmons Model of entrepreneurship to social entrepreneurship.
Topic Overview
This topic highlights the main features that lead good ideas to become
potential opportunities by revisiting the four anchors of good ideas, such as
they create or add significant value to customers; they meet customers
needs or wants; they have robust market, margin and money-making
characteristics and they provide the founders and management team an
attractive risk-reward balance. Students will learn how the screening
methodologies (QuickScreen and the Venture Opportunity Screening
Exercises) help assess good ideas to become potential opportunities. New
venture creation is also socially inclined and non-profiteering. The topic
highlights how social entrepreneurship offers an opportunity to create a
venture that can be both mission-driven and economically sustainable and
the extent the Timmons Model of entrepreneurship is applicable to social
entrepreneurship.
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STUDY GUIDE
BMNV5103

Focus Areas
Assigned Readings
4.1
4.2
4.4
Venture Opportunity Screening

Social Entrepreneurship
Opportunities The Nature &
Types
The Timmons Model and Social
Entrepreneurship
J. Gregory, D. (1998). The meaning of
social entrepreneurship. Retrieved
August 12, 2012, from
http://www.partnerships.org.au/Library/
themeaningofsocialentrepreneurship.htm
Content Summary
x
The four anchors of venture opportunities are useful in assessing the

good ideas as potential opportunities.
Creation or addition of significant value to the customers; meeting

customers needs and wants; developing a robust market, margin and
money-making characteristics; and offering a good fit with the founders
and the management team including an attractive risk-reward balance
are the anchors of venture opportunities.
The QuickScreen and the Venture Opportunity Screening Exercises are

the tools (methodologies) that entrepreneurs could use to assess
whether their ideas are potential opportunities.
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STUDY GUIDE
BMNV5103
The QuickScreen uses criteria such as need/want/problem, value added

or created, market size against market and margin related issues; costs,
entry barriers, service chain against competitive advantages relative to
the current and evolving set of competitors and profit, ROI, break-even
point against value creation and realisation issues to identify opportunity
outputs: higher and lower potential.
The Venture Opportunity Screening Exercises (VOSE) uses criteria from

Topic 3. They are industry and market, economics, harvest issues,
competitive advantage issues, management team, personal criteria and
strategic differentiation to assess venture opportunity profiles for higher
potential or lowest potential outputs.
The exercises on both the screening methodologies teach the students to

draw from Topic 3 and their experience in order to identify potential
opportunities from their best generated ideas.
Social entrepreneurship differs from traditional entrepreneurship primarily

in mission and purpose.
Non-profit enterprises either use earned income activities (one type) or

has a focus on growth and economic sustainability (another type).
Social opportunities are market, mission and social need driven, although
the primary mission of both social and non-profit enterprises is social with
zero regard for market impact.
In social entrepreneurship, the Timmons Model includes stakeholders

who are external to the venture.
Study Questions
1.
Explain the differences between socially responsible ventures, social

ventures and non-profit enterprising.
2.
Is social entrepreneurship part of Corporate Social Responsibility

(CSR)? Explain and give an example.
3.
Identify a problem or a trend in Malaysia that has an element of

wicked problems. What types of opportunities might emerge for social
enterprising?
4.
Complete Exercises 14 in Chapter 6 of the main text, pages 166179.
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STUDY GUIDE
Topic 5:
BMNV5103
Introduction to a Business Plan: Knowing its

Elements and Requirements
Learning Outcomes
1.
Explain the nature and benefits of a business plan;
2.
Justify when to have a business plan;
3.
Describe how business plans can be crafted after identifying a good

opportunity;
4.
Differentiate between the good and bad practices (approaches) when

preparing a business plan; and
5.
Prepare a business plan.
Topic Overview
This topic highlights the roles and benefits of a business plan as well as
when the plan is needed. Students will learn how a business plan spawns
from opportunity findings, that technology would change the way a business
plan is viewed and adopted. Some of the good and negative practices of
business would be discussed to enable students to understand the merits
and demerits of business plan preparation. Most importantly, students will
learn how to prepare a business plan.

Focus Areas
Assigned Readings
5.1
5.2
5.3
5.4
The Nature and Benefits of a

Business Plan
The Good and Negative Practices
of a Business Plan
Preparing a Business Plan
Develop and Write a Business
Framework
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Berry, T. (2012). A Standard business
plan outline. Retrieved August 11, 2012,
from
http://articles.bplans.com/writing-abusiness-plan/A-Standard-BusinessPlan-Outline
Content Summary
x
The business plan is a process or a road map rather than an outcome.
Entrepreneurs must scan the environment and project the changes when
preparing a business plan to prevent the plan from becoming obsolete.
The business plan is developed based on opportunity identification as it

converts an idea into opportunity. It articulates and administers risk and
rewards, project launching, and the timing of the venture.
The good practices of a business plan preparation have elements

on management team participation; concepts and communication;
identification of critical risks, assumptions and potential problems; know
who the target investors are; and a realistic market.
Having someone in the management team but still employed in another

company; unclear terms and statements; and use of jargons to describe
the products are some of the bad points to avoid in preparing a business
plan.
Preparing a business plan requires having the knowledge and exposure

on business concepts and vision, the industry; the competitors; market
research and analysis; marketing, design and development, manufacturing/
operations and financial plans; management team; and sustainability and
impact.
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Study Questions
1.
Explain what a business plan is and who are the potential users.
2.
Who is responsible for preparing a business plan and what should he/
she consider to prevent the plan from becoming a flawed document?
3.
What are the elements considered for a complete business plan?
4.
How does a business plan help an entrepreneur to search for the best
team members, directors and value-added investors?
5.
Research three business plans used or developed by successful

entrepreneurs/researchers and critically evaluate the attractiveness,
relevance and business impacts these plans bring.
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STUDY GUIDE
Topic 6:
BMNV5103
Entrepreneurial Leadership and Team

Membership
Learning Outcomes
1.
Explain the different roles that the entrepreneurial leader, the

administrator or the manager assumes;
2.
Discuss the importance of having a management team and its impact

on venture opportunities and growth;
3.
Explain the concept of theoretical view in the life cycle of the venture
and how it relates to entrepreneurial leadership behaviours and team
building;
4.
Differentiate the characteristics of the most to the least entrepreneurial

companies and identify the competencies and skills that entrepreneurial
leaders require to lead the venture in the current situation;
5.
Relate entrepreneurial success to the vision, philosophy and the

attitudes of the founder; and
6.
Explain reward and equity concepts and practices and their impact on
growth sustainability.
Topic Overview
This topic highlights the essence of entrepreneurial leadership and the team
culture created and built by the companys founders. Both leaders and team
members bring energy and excitement while transforming ideas and dreams
into tangible visions for people to achieve. For an entrepreneur, finding the
right partner reduces stress and constraints while having the right match is
essential to venture growth. The theoretical view of the gestation and growth
process of a new venture supports the notion that entrepreneurship is dynamic
rather than static. The growth stages are linked to crucial transitions and core
management mode. Crucial transitions are contingent on sales, employees
and core management mode which need to move the numbers and the
expertise as the venture moves from research and development to start-up to
high growth to maturity and stability. To manage rapid growth, entrepreneurial
leaders need to review the means of achieving entrepreneurial excellence.
Successful leaders personify the process possibly as gatekeepers, information
disseminators and team builders. In essence, entrepreneurial leadership
is taught, gained and practised over years and no single entrepreneur is
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competent in all areas. Building the team and approaching the growth in a
sustainable way is what it takes to mobilise the venture opportunities to
achieve growth and risk-award balance.

Focus Areas
Assigned Readings
6.1
6.2
6.3
6.4
Entrepreneurial Leadership: The

Nature and Roles
Entrepreneurial Culture and
Growth Factors
Entrepreneurial Competencies and
Skills
Rewards and Incentives: An
Approach to Equity
Chapter 18, Professional Management
and Leadership pp 472489 in Moore,
Petty, Palich & Longenecker (2008).
Managing Small Business
Content Summary
x
An entrepreneurial leader, administrator or a manager assumes different

roles in a venture enterprise, yet they are important team members who
contribute their specialised expertise.
Entrepreneurial leadership in a growing enterprise needs a team with

relevant competencies to steer the venture towards growth and
sustainability.
Founders of an entrepreneurial venture must learn to adapt and grow

quickly as they succeed in growing their ventures beyond $10 million in
sales, to avoid failure.
Any venture evolves through growth stages from start-up through rapid
growth, to maturity, to decline and renewal. Having a strong team offers a
well-balanced risk-award situation and facilitates the process of transition
and uncertainties.
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Sharing wealth and ownership with team members who helped to create
the venture is essential in team building.
The fit concept between the founder(s) and the team, the vision and
goals and the timing is central to and critical in anticipating gaps in
management and developing the team.
Entrepreneurs have the ability to create and invent new and unique
approaches to organising, deploying and leading the team.
To lead and manage a growing venture, the entrepreneur and the team
must have the core competencies and empowerment to sustain the
venture growth and success.
Study Questions
1.
Think of an entrepreneur as a leader and a manager of a company and

explain how these two differ.
2.
Which stage(s) of the venture growth require(s) entrepreneurs to be

managing managers? Explain why.
3.
Why do you think team philosophy and attitudes are very important in
venture growth? Give specific examples.
4.
In putting a team together, what types of rewards, compensation and

incentives does an entrepreneur consider and provide? How does
he/she manage the process?
5.
Can you identify and describe the key characteristics of the most
entrepreneurial and the least entrepreneurial companies?
6.
Read and answer the preparation questions of the Maclean Palmer

Case, pp 342 in the main text.
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Topic 7:
BMNV5103
Resource Requirements and Franchising
Learning Outcomes
1.
Explain how entrepreneurs perceive and behave towards resources

they require;
2.
Set the criteria of selection and utilisation of potential board members,

professionals and technical experts to venture and identify critical
issues related to the process;
3.
Demonstrate how to decide on financial resources;
4.
Prepare a simple cash flow, income statement and balance sheet and
know what they mean;
5.
Define franchising, the key players and their respective roles;
6.
Identify the criteria for choosing a franchise and assess the

requirements and benefits of being a franchisee or a franchisor; and
7.
Screen franchises with higher success rates.
Topic Overview
The topic highlights some of the issues in approaching, identifying and
utilising resources that are crucial and essential in venture creation.
Understanding how entrepreneurs perceive and behave towards resources
they require is emphasised. To select and utilise outside expertise as board
members, professionals and the like, entrepreneurs must set the criteria and
identify the critical issues related to the selection process. Knowing how to
decide on financial resources based on interpretation of the financial
statements and cash flow is paramount to resource requirements and
entrepreneurship. In addition, the nature of franchising, its key players and
their roles and benefits are introduced and discussed in light of the criteria
for choosing this type of venture opportunity. There are screening methods
that the topic highlights to select franchises of higher success.
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Focus Areas
Assigned Readings
7.1. Resources: Nature and

Approaches
7.2 Resource Identification and
Utilisation
7.3 Financial Resources: Requirement
Analysis
7.4 Franchising, Nature and Roles
Franchisee and Franchisor
7.5 Selection and Evaluation of a
Franchise

Content Summary
x
Resources in entrepreneurship, like any other resources, need to be

treated and approached selectively but with effective utilisation.
Entrepreneurs are encouraged to control, rather than own, resources as

the former is the means to a less is more resource strategy.
Successful entrepreneurs are good at taking peoples money and

resources, thus enabling the sharing and spreading of the risks.
The criterion for selecting outside members as directors, advisors,

accountants and other specialists is that must demonstrate that their
contributions and know-how will add value to the venture and they
enhance networks.
Analysing financial statements for resource requirements is key to a

healthy organisational return of investment (ROI).
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Financial and non-financial resources are easily accessible on the

Internet more so now than before. Entrepreneurs could search for,
identify and secure resources at any time and any place without any
boundaries as long as they have access to the Internet.
The focus of franchising fits well with the definition of entrepreneurship

which is opportunity recognition towards wealth creation.
A franchise entrepreneur can control the growth of his/her franchise

opportunity. It allows the franchisor to own and control many franchise
outlets e.g. pizza restaurants.
A franchise screening template is available for a franchisee to make

a preliminary assessment of the key variables that have franchise
offerings.
Study Questions
1.
What are the thinking and approaches entrepreneurs use towards

resources?
2.
Identify the advantages of creative bootstrapping resources. Cite two

examples.
3.
Do you think the current technology in Internet and online search

benefit entrepreneurs? Explain the way(s).
4.
Identify the criteria of selecting external consultants, board members,

advisors and the like. Why is it important to use these criteria?
5.
Do Exercise 1, Build Your Brain Trust, Part 1: Gap and Fit Analysis vis-vis the Timmons Model, p 30 of the main text.
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STUDY GUIDE
Topic 8:
BMNV5103
Financing and Obtaining Entrepreneurial

Ventures and Growth
Learning Outcomes
1.
Describe the nature and pertinent issues of new venture financing;
2.
Identify the differences in features and approaches between

entrepreneurial finance and conventional administrative (corporate)
finance;
3.
Describe the process of preparing financial and fund-raising strategies

and list the critical variables surrounding entrepreneurial finance;
4.
Explain where entrepreneurs obtain equity capital; and
5.
Outline the decision approach that capital investors make.
Topic Overview
This topic highlights the dynamics of real business situations concerning
financing, market, strategies and management behaviour and actions in
financing. Entrepreneurs or even managers whose expertise does not
include finance would be inadequate in addressing financial analysis and
understanding its relationship to management and strategy. Students will
learn that entrepreneurs need answers to key questions on strategies and
financing to anticipate and decide on financial plans and choices. The
creation of value, risk allocation and returns, and risk coverage are central
issues in entrepreneurial financing. These significantly impact on the survival
and success of most higher potential ventures. Financial strategy framework
in the topic teaches entrepreneurs to think and question key issues on
financial strategy, sources and negotiation structure, financial requirements,
business strategy and opportunity. In addition, it will be pertinent for
entrepreneurs to know and understand investment sources and how to
locate and close a deal as well as how venture capital investors make
decisions.
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Focus Areas
Assigned Readings
8.1
8.2
8.3
8.4
8.5
8.6
New Venture Financing: Nature

and Issues
Financial Approaches:
Entrepreneurial versus
Corporate Financing
Financial and Fund-Raising
Strategies
Sources of Investment Equity
Capital
Decision on Investment
Venture Capital Investors:
Sources and Guides


Chapter 14, pp 406412
Retrieved August 14, 2012 from,
http://www.powershow.com/view/144963OGMzO/Entrepreneurial_Finance_And_V
enture_Capital_flash_ppt_presentation
Content Summary
x
The demand and need for cash in business are such that more cash is
preferred than less cash; the faster we have the cash the better we are.
Entrepreneurs face challenges and issues especially when they lack in

financial competencies which are core requirements in realising venture
opportunities, resource requirements and the link between strategic
decisions and financial plans and choices.
The concept of getting beyond collect early, pay late is about the impact
of increased sales on cash which is required to finance increased
receivables and inventory.
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Entrepreneurs need answers to key questions on strategies and

financing to anticipate and decide on strategies with financial plans and
choices.
The creation of value, risk allocation and returns, and risk coverage are
central issues in entrepreneurial financing. These tasks would have a
significant impact on the survival and success of most higher potential
ventures.
Financial strategy framework provides entrepreneurs the platform to think

and question key issues on financial strategy, investment sources,
financial requirements, business strategy and opportunity, with some
analysis on how they relate to each other.
Entrepreneurs and corporate financial investors differ in the degree and

context of cash flow and cash; time and timing; capital markets; knowhow, wisdom; counsel and help.
Entrepreneurs need to understand and address the critical variables such

as accomplishment to date; investors perceived risks, anticipated growth
rate, age, stage of development, internal rate of return; industry and
technology in developing financial and fund-raising strategies.
Sources of investment equity capital are derived from formal and informal
sources. Angels or informal source of equity capital which serve as the
greatest source of seeds and start-up capital are made up of successful
entrepreneurs and executives with wealth.
Formal sources such as Garage Technology Ventures (garage.com) and

Business Partners (businesspartners.com) provide valuable assistance,
advice and information regarding potential investors.
Specialised
assistance
for
women
includes
Womenangels
(womenangels.net), the Center for Women and Enterprise (cweboston.org)
and the Springboard Enterprises (springboardenterprises.org).
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STUDY GUIDE
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Study Questions
1.
Why do you think terms such as burn rate, free cash flow, financial
management myopia, spreadsheet mirage and getting beyond collect
early, pay late are very important in entrepreneurial financing?
2.
Why would an entrepreneur in venture creation need answers to key

questions that have an impact on strategic business decisions and
financial plans and choices?
3.
Describe the three main critical financing issues and discuss the
variables affected by actions to address these critical issues.
4.
How does financial framework work in entrepreneurial financing?

Please elaborate with an example.
5.
What are the factors critical in finding and selecting an investor and
why are these important?
6.
Read an article from the additional reading materials in the Assigned

Readings. Summarise in one page the key issues and applications in
venture creation.
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STUDY GUIDE
Topic 9:
BMNV5103
Leadership in Rapid Growth, Crises and

Recovery
Learning Outcomes
1.
Identify the factors that induce entrepreneurs to invent new paradigms

of organisations and management;
2.
Discuss the leadership requirements, the organisation and the special

problems of higher ventures that are growing rapidly and big;
3.
Explain the concepts of organisational culture and climate and the roles
of leadership in fostering a good culture; and
4.
Identify symptoms of either quantitative or qualitative trouble that

enable managers to detect an impending crisis.
5.
Discuss the diagnostic methods used to design intervention and

turnaround.
Topic Overview
This topic highlights the demands of rapid growth that lead to the invention
of new organisational and leadership paradigms by entrepreneurs.
Entrepreneurial organisation of today operates in a flatter, faster, more
flexible and responsive structure compared to organisations in the past.
Entrepreneurs in high-growth firms lead entrepreneurial practices in
marketing, finance, management, and planning which differ distinctively from
entrepreneurial practices in medium or low growth firms.
You will learn that high potential firms in the process of growing big,
experience stages of special challenges and crisis which become
compounded by rapid growth. However, entrepreneurs are alerted by
numerous signals that foretell incoming trouble such as strategic issues,
poor planning and financial controls and cash depletion. In addition, both
quantitative and qualitative signals serve as predictors of patterns and
actions of probable impending troubles. For the intervention, the turnaround
specialists diagnose cash, strategic market and management issues as well
as develop a turnaround plan.
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Focus Areas
Assigned Readings
9.1
9.2
9.3
9.4
9.5
New Paradigms of Organisations

and Management
Symptoms of a Crisis
Causes and Troubles of a New
Venture
Diagnostic Methods in Intervention
and Turnaround
Organisation Culture and Climate

Sebastian, E. (2012). Leadership during
a crisis situation. Retrieved August 14,
2012, from
http//voices.yahoo.com/leadershipduring-crisis-situation-corporateresponse-1287207.html
Content Summary
x
Entrepreneurs made new inventions on leadership and management

paradigms to cope with and address the demands of rapid growth of new
venture creation.
Entrepreneurs now operate in a flatter, faster, more flexible and

responsive organisational structure. In high growth firms, entrepreneurs
lead in marketing, finance, management and planning the practices
that distinguish them from other entrepreneurs from less developing
ventures.
There are signals and symptoms that can alert entrepreneurs of

impending troubles and crisis. Strategic issues, poor planning and
financial controls, and cash deficiencies are some of the symptoms.
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Entrepreneurs need to be aware and alert of both quantitative and

qualitative symptoms that can be used to predict patterns and actions
which might lead to trouble.
Reportedly, a turnaround intervention can only be triggered after

18 months and up to five years.
A core task for the venture is to set a culture and climate conducive and
relevant to entrepreneurship.
Entrepreneurs can learn from turnaround specialists who are experts in

analysing the numbers including the cash, strategic market and
management issues to develop a turnaround plan.
Study Questions
1.
Give reasons why old hierarchical management paradigms have been

replaced with new organisational paradigms.
2.
As new ventures grow, so do the special issues, problems and crisis.

What are these and why do they happen?
3.
How do you see the roles of culture and climate in a rapidly growing
venture?
4.
Identify and describe some of the key predictors and signals that can
alert managers of impending trouble.
5.
Describe the diagnosis that can be used to detect problems and

explain to what extent cash plays the central role.
6.
Review the Case Telephony Translations, Inc. (A), pp 578590 of the

main text and answer the Preparation Questions 13.
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STUDY GUIDE
BMNV5103
Topic 10: Managing Family Entrepreneurship and

Resources
Learning Outcomes
1.
Describe the dynamics of families and entrepreneurship and the

economic and social contributions families make to the community
and the country;
2.
Identify and appreciate the different and unique roles families play in
the entrepreneurial process;
3.
Explain the terms of family enterprising and trans-generational

entrepreneurship;
4.
Use the mindset and methods continuum to assess your family

enterprise; and
5.
Identify the six dimensions of family enterprising and plot your familys
resource capabilities using the families f + f assessment continuum.
Topic Overview
The topic highlights the importance of understanding family as entrepreneur
and the different roles that families play in the entrepreneurial process.
Family entrepreneurship contributes significantly to the economies of
communities and countries. Business organisations worldwide are dominated
by families who provide more resources for the entrepreneurial economy
than any other sources. The topic explores the entrepreneurial commitments,
capabilities and the contributions of families and their businesses. Family
enterprising, referred to as leveraging the entrepreneurial process in the
family context, is the key to actions of generating economic activity. In
addition, trans-generational entrepreneurship and wealth creation highlighted
in the topic provides students with the understanding and knowledge that
entrepreneurial family legacies are long-term value built across generations.
Three sets of assessment and strategy tools to assist families in assessing
their enterprising process and building their family legacy will also be
discussed.
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Focus Areas
Assigned Readings
10.1
10.2
10.3
10.4
Families and Entrepreneurship

Familys Roles and Contribution
in Entrepreneurship
Family Enterprising: Methods,
Dialogue and Congruence
Dimensions of Family
Enterprising and Teams

Hidle, N. (2002). Founding, building,
breaking enterprises: Indian familybusiness in Malaysia in the mould of the
joint-family model. Retrieved August 15,
2012, from
http://www.asianettverket.uio.no/pdf0003/hidle.pdf
Content Summary
x
Families make significant contributions to the economy and

entrepreneurship process as the majority of businesses worldwide
are dominated and led by families.
The roles that families play include informal and formal which have been
described as a) family-influence start-up, b) family corporate venturing,
c) family corporate renewal, d) family private cash, and e) family
investment funds.
Family enterprising is the leveraging of the entrepreneurial process in the

family context in search of opportunistic growths and in generating
economic activity.
Trans-generational entrepreneurship and wealth creation serve as the

outcome of family enterprising.
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The mindset continuum is designed to assess the familys risk and profile
while the methods continuum evaluates leaders organisational behaviour
with a requirement to advance from managerial to entrepreneurial
strategies.
The six dimensions for family enterprising are leadership, relationship,

vision, strategy, governance and performance.
Familiness of an organisation is a unique component of resources and

capabilities resulting from the interaction and dialogue between the family
and individual family members with the business entities and can result in
either positive or negative influences.
Study Questions
1.
What are the roles and contributions families make to the economies of
communities and countries? Discuss.
2.
To what extent do informal roles support formal roles in family

enterprising? Give two examples to support your argument.
3.
What do you understand by family enterprising and trans-generational

entrepreneurship? How do these concepts contribute to opportunistic
growth and wealth creation?
4.
Review the article on Founding, building & breaking enterprises: Indian

family business in Malaysia in the assigned readings. Plot the family
on the mindset and methods model and describe the firm in relation to
the mindset and method definition.
5.
What relationship exists among each of the six dimensions of family

enterprising? How can these six dimensions help stimulate a positive
family dialogue? Discuss.
6.
How do you use familiness resource and capabilities continuum to

assess family enterprising? Explain.
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Appendices
Appendix A: Learning Support
Seminars
There are 15 hours of face-to-face facilitation, in the form of FIVE seminars
of three hours each. You will be notified of the date, time and location of
these seminars, together with the name and e-mail address of your
facilitator, as soon as you are allocated a group.
Discussion and Participation

Besides the face-to-face seminars, you have the support of online
discussions in myVLE with your e-tutor and coursemates. Your contributions
to online discussions will greatly enhance your understanding of the course
content, and help you do the assignment(s) and prepare for the examination.
Feedback and Input from Facilitator

As you work on the activities and the assigned text(s), your facilitator will
provide assistance to you throughout the duration of the course. Should you
need assistance at any time, do not hesitate to contact your facilitator and
discuss your problems with him/her.
Bear in mind that communication is important for you to be able to get the
most out of this course. Therefore, you should, at all times, be in touch with
your facilitator, e-facilitator and coursemates, and be aware of all the
requirements for successful completion of the course.
Tan Sri Dr Abdullah Sanusi (TSDAS) Digital Library

For the purpose of referencing materials and doing library-based research,
OUM has a comprehensive digital library. For this course, you may use the
following databases: InfoTrac, ProQuest and EBSCO. From time to time,
materials from these databases will be assigned for additional reading and
activities.
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STUDY GUIDE
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Appendix B: Study Tips

Time Commitments for Study
You should plan to spend about 12 hours of study time on each topic, which
includes doing all assigned readings and activities. You must also set aside
time to discuss work online. It is often more effective to distribute the study
hours over a number of days rather than spend a whole day studying one
topic.
Study Strategy
The following is a proposed strategy for working through the course. If you
have difficulty following this strategy, discuss your problems with your
facilitator either through the online forum or during the seminars.
(i)
The most important step is to read the contents of this Study Guide
thoroughly.
(ii)
Organise a study schedule (as recommended in Table 2). Take note of

the amount of time you spend on each topic as well as the dates for
submission of assignment(s), seminars and examination.
(iii)
Once you have created a study schedule, make every effort to stick to
it. One reason learners are unable to cope with postgraduate courses
is that they procrastinate and delay completing their course work.
(iv)
You are encouraged to do the following:

x
Read the Study Guide carefully and look through the list of topics
covered. Try to examine each topic in relation to other topics.
Complete all assigned readings and go through as many

supplementary texts as possible to get a broader understanding of
the course content.
Go through all the activities and study questions to better

understand the various concepts and facts presented in a topic.
Draw ideas from a large number of readings as you work on the

assignments. Work regularly on the assignments as the semester
progresses so that you are able to systematically produce a
commendable paper.
46
STUDY GUIDE
BMNV5103
(v)
When you have completed a topic, review the Learning Outcomes for
the topic to confirm that you have achieved them and are able to do
what is required.
(vi)
After completing all topics, review the Learning Outcomes of the course
to see if you have achieved them.
47

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STUDY GUIDE

New Venture Development

CENTRE FOR GRADUATE STUDIES

Assoc Prof Dr Intan Osman

Centre for Instructional Design and Technology

First Edition, August 2012

New Venture Development

New Venture Development

INTRODUCTION TO STUDY GUIDE

New Venture Development

New Venture Development

PART ONE: COURSE INTRODUCTION

Provide an understanding of how entrepreneurship education, mind,

Develop an understanding and knowledge of how to assess a business

Identify the types of resources, costs and challenges as well as

Define the need to develop a well-conceived and feasible business

Provide ideas on how to raise venture capital and other types of

Evaluate issues related to the problems and pitfalls a new business

New Venture Development

Explain what entrepreneurship, entrepreneurship education and

Link the roles of educators in teaching and curricula development as

Assess critical aspects of entrepreneurial mind and strategy in

Describe the characteristics and attributes of entrepreneurs who

Identify personal talents, strengths and weaknesses that would match

Articulate the concepts of idea and opportunity; think big; and

Describe the roles of ideas, pattern recognition, screening opportunities

Anticipate and identify the kinds of resources, such as human,

Develop a business plan that specifies the need to have a business

Use resources from venture capital financing to enable investment in

Conceptualise, contextualise and identify characteristics of Growth and

New Venture Development

Reading course materials and completing exercises

Attending 5 seminar sessions (3 hours for each session)

Engaging in online discussions

New Venture Development

Additional Recommended Readings

New Venture Development

PART TWO: LEARNING GUIDE

Entrepreneurial Education, Transformation and

Entrepreneurial Mind and Process

Opportunity Scanning and Resource Analysis

Venture Opportunities Screening and Social

Introduction to a Business Plan: Knowing its Elements

Entrepreneurial Leadership and Team Membership

Resource Requirements and Franchising

Financing and Obtaining Entrepreneurial Ventures and

Leadership in Rapid Growth, Crises and Recovery

Topic 10: Managing Family Entrepreneurship and Resources

New Venture Development

Learning Outcomes: outline the specific tasks to be accomplished;

Topic Overview: briefly explains what the topic touches on so as to

Focus Areas: identify the main and sub areas to be covered;

Content Summary: provides an interpretative framework for understanding

Study Questions: help you to focus on key subject areas.

Figure 1: Organisation of the Learning Guide

New Venture Development

Entrepreneurial Education, Transformation

Define and explain what entrepreneurship and entrepreneurhip

Explain the terms of new education, new management and

Link entrepreneurship education, learning paradigm and innovative

New Venture Development

Focus Areas and Assigned Readings

Entrepreneurship: A Macro Phenomenon and Transformation