DETAILED BREAKDOWN OF TOPICS FOR PRINCIPLES OF ENTREPRENEURSHIP (ENT530)**

(Prepared by PM Dr. Fauziah Pawan as Resource Person ENT530- January 2012)

TOPIC 1: ENTREPRENEURSHIP AND THE ENTREPRENEURIAL MINDSET (Hisrich et. al., Chapter 1)
Sub-Topics Covered (All sub-topics are covered)
Nature and Development of Entrepreneurship
The Entrepreneurial Process

Sub-Topics Covered (All sub-topics are covered)

How Entrepreneurs Think
-Effectuation

-Identify and Evaluate the Opportunity

-Cognitive Adaptability

-Develop a Business Plan

-Learning from Business Failure

-Determine the Resource Required

-Recovery and Learning Process

-Manage the Enterprise

-A Dual Process for Learning from Failure

Ethics and Social Responsibility of Entrepreneurs
Role of Entrepreneurship in Economic Development

TOPIC 2: THE INDIVIDUAL ENTREPRENEUR (Hisrich et. al., Chapter 2)

Sub-Topics Covered
The Intention to Act Entrepreneurially
Entrepreneur Background and Characteristics
-Education, Age , Work History,

Sub-Topics Covered
Role Models and Support Systems
-Moral & Professional-Support Network
Minority Entrepreneur
Entrepreneurial Intentions Within Existing Organizations

TOPIC 3: ENTREPRENEURIAL & INTRAPRENEURIAL MIND (Hisrich et. al., Chapter 2)

Sub-Topics Covered

Sub-Topics Covered
Managerial Versus Entrepreneurial Decision Making

-Strategic Orientation and Commitment to Opportunity

-Causes for Interest incorporate Entrepreneurship

-Commitment of Resources and Control of Resources

-Establishing a Culture for Corporate Entrepreneurship

-Management Structure and Reward Philosophy

-Leadership Characteristics of Corporate Entrepreneurs

-Growth Orientation and Entrepreneurial Culture

Sub-Topic NOT Covered

Establishing Corporate Entrepreneurship in the Organization

- Problems and Successful Effort

TOPIC 4: CREATIVITY & INNOVATION (Hisrich et. al., Chapter 3 & 4)

Sub-Topics Covered (Chapter 3)
New Entry
Generation of a New Entry Opportunity

Sub-Topics Covered (Chapter 3)

Entry Strategy for New Entry Exploitation
- Environmental Instability and First-Mover (Dis)Advantages

-Resources as a Source of Competitive Advantage

- Customers Uncertainty and First-Mover (Dis)Advantages

-Creating a Resource Bundle That Is Valuable, Rare, and

- Lead Time and First Mover (Dis)Advantages

Inimitable
- Assessing the Attractiveness of a New Entry Opportunity
- Information on a New Entry

Risk Reduction Strategies for the New Entry Exploitation

-Market Scope Strategies, Imitation Strategies & Managing
Newness

- Comfort for Making a Decision under Uncertainty

-Decision to Exploit or Not to Exploit the New Entry
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Sub-Topics Covered (Chapter 4)

Trends (Provide Opportunities)

Sub-Topics Covered (Chapter 4)

Creative Problem Solving

- Green Trend, Clean-Energy Trend, Organic-Orientation

Brainstorming, Reverse Brainstorming, Gordon Method,

Trend, Economic Trend, Social Trend, Health Trend & Web

Checklist Method, Checklist Method, Checklist Method, Free

Trend

Association, Forced Relationships & Collective Notebook

Sources of New Ideas

Innovations

-Consumers, Existing Products and Services, Distribution

-Types of Innovation

Channels, Federal Government & Research and Development

Methods of Generating New Ideas

-Defining a New Innovation (Product or Service)

Sub-Topic NOT Covered (Chapter 4)

Innovations -Classifications of New Products

E-Commerce and Business Start-up

Product Planning and Development Process

Using E-Commerce Creatively

Establishing Evaluation Criteria

Web Sites

Idea Stage

Tracking Customer Information

Concept Stage

Doing E-Commerce as an Entrepreneurial Company

Product Development Stage

Test Marketing Stage

TOPIC 5: ENTREPRENEURSHIP ENVIRONMENT (Hisrich et. al., Chapter 5)

Sub-Topics Covered

Sub-Topics Covered

International versus Domestic Entrepreneurship

Technological Environment

-Economic Stage & Types, Political-Legal Environment,

Culture

Language

TOPIC 6: ANALYZING THE ENVIRONMENT & IDENTIFICATION OF OPPORTUNITY (Hisrich et. al., Chapter 5)
Sub-Topics Covered

Sub-Topics Covered

Opportunity Recognition and the Opportunity Assessment Plan

Information Sources

Entrepreneurial Entry Strategies

-Exporting

- General, Industry and Market Information

-Non-equity Arrangements

-Competitive Company and Product Information

-Direct Foreign Investment

-Government Sources, Search Engines, Trade Associations &

Entrepreneurial Partnering

Publications
Motivations to Go Global

Barriers to International Trade

Strategic Effects of Going Global

-General Agreement on Tariffs and Trade (GATT)

Foreign Market Selection

-Increasing Protectionist Attitude

-Trade Blocks and Free Trade Areas
-Entrepreneurs Strategy and Trade Barriers
Sub-Topic NOT Covered

The Nature of International Entrepreneurship

Available Distribution Systems

The Importance of International Business to the Firm

Implications for the Global Entrepreneur

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TOPIC 7: PREPARATION OF BUSINESS PLAN (Hisrich et. al., Chapter 7)

Sub-Topics Covered (All sub-topics are covered)

Sub-Topics Covered (All sub-topics are covered)

Planning as Part of the Business Operation

Information Needs

-What is the Business Plan?

- Market Information

-Who Should Write the Business Plan?

-Operations Information

-Scope and Value of the Business Plan (Who Reads the Plan)

Financial Information Needs

How Do Potential Lenders and Investors Evaluate the Plan

Using the Internet as a Resource Tool

Presenting the Plan

Using and Implementing the Business Plan

-Measuring Plan Progress & Updating the Plan
Why Some Business Plans Fail

Writing the Business

-Introductory Page

-Operations Plan

- Executive Summary

-Marketing Plan

-Environmental and Industry Analysis

-Organizational Plan

-Description of Venture

-Assessment of Risk

-Production Plan

-Financial Plan

TOPIC 8: STARTING A NEW VENTURE (UiTM Fundamentals of Entrepreneurship Text, Chapter 3 & Hisrich et. al., Chapter 9)
Sub-Topics Covered (Chapter 3)

Sub-Topics Covered (Chapter 3)

Business Organizations in Malaysia

Sole Proprietorship (Advantages & Disadvantages)

-Licenses, Permits & letters of Authority

Partnership (Advantages & Disadvantages)

-Business Rights & Protection

Private Limited Company

Procedures & Legal Aspects

Business Support Systems

-Characteristics, Mechanism, Advantages &

Disadvantages
Sub-Topic NOT Covered (Chapter 3)
Steps in Registration of Sole Proprietorship & Partnerships

Sub-Topics Covered (Chapter 9)

Designing the Organization

Building the Management Team & a Successful

Procedures in Registration a Private Limited Company

Sub-Topic NOT Covered (Chapter 9)

All others except that stated above

Organizational Structure

TOPIC 9: FINANCING THE VENTURE (Hisrich et. al., Chapter 11 & Chapter 12)
Sub-Topics Covered (Chapter 11)
An Overview

Sub-Topics Covered (Chapter 11)

Commercial Banks

- Debt or Equity Financing

-Types of Bank Loans

- Internal or External Funds

- Cash Flow Financing

Personal Funds

-Bank Lending Decisions

Family and Friends

Government Grants (ENT 530 Specific Notes)

Bootstrap Financing
Sub-Topic NOT Covered (Chapter 11)

Role of the SBA in Small-Business Financing

Other Government Grants

Research and Development Limited Partnership

Sub-Topics Covered (Chapter 12)

Informal Risk Capital Market (Business Angels)

Private Placement

Sub-Topics Covered (Chapter 12)

Nature of Venture Capital

Sub-Topic NOT Covered (Chapter 12)

All others except those stated above

TOPIC 10: MANAGING EARLY GROWTH OF THE NEW VENTURE (Hisrich et. al., Chapter 13)
Sub-Topics Covered

Sub-Topics Covered

Growth Strategies: Where to Look for Growth Opportunities

Penetration Strategies

Overcoming Pressures on Existing Financial Resources

Product Development Strategies

Overcoming Pressure on Existing Human Resources

Market Development Strategies

Overcoming Pressure on the Management of Employees

Diversification Strategies

Overcoming Pressures on Entrepreneurs Time

Implications of Growth for the Firm

Pressures on Existing Financial Resources
Pressure on Human Resources
Pressure on the Management of Employees
Pressure on the Entrepreneurs Time
Sub-Topic NOT Covered
- Examples of Growth Strategies
Economic Implications of Growth
Financial Control

-Basic Principles of Time Management

Implications of Firm Growth for the Entrepreneur
A Categorization of Entrepreneurs and Their Firms Growth

TOPIC 11: MANAGING, GROWING & ENDING OF A VENTURE (Hisrich et. al., Chapter 14 & 15)
Sub-Topics Covered (Chapter 14)
Using External parties to Help Grow a Business
Franchising

Sub-Topics Covered (Chapter 15)

Options for Selling the Business
Direct Sale

Advantages of Franchising to the Franchisee

Employee Stock Option Plan

Advantages of Franchising to the Franchisor

Management Buyout

Disadvantages of Franchising
Types of Franchising
Investing in a Franchise
Joint Venture
Types of Joint Ventures
Factors in Joint Venture Success
Acquisitions
Advantages of an Acquisition
Disadvantages of an Acquisition

Mergers

Leveraged Buyouts
Sub-Topics NOT Covered (Chapter 14)

Sub-Topics NOT Covered (Chapter 15)

Synergy

Exit Strategy

Structuring the Deal

Succession of Business

Locating Acquisition Candidates

Overcoming Constraints by Negotiating for More Resources

Transfer to Family Members

Transfer to Nonfamily Members
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 Bankruptcy An Overview

TOPIC 12: FAMILY BUSINESS (Byrd & Megginson, Chapter 2)

Sub-Topics Covered

Sub-Topics Covered

Role of Family-Owned Business

The Family and the Business

Preparing for Management Succession

Family Interactions

Why Succession is a Problem

Family Limitations

An Overlooked Problem

Culture and the Family Business

Family Resources
Preparing the Next Generation

Plan Ahead
Sudden & Planned Departures
Selling to Family Members & Outsiders
Making the Transition Easier
Sub-Topic NOT Covered

Tax & Estate Planning

Estate Planning to Minimize Tax

** REFERENCES
1. Hisrich, Robert D., Peters, Michael P. & Shepherd, D., (2006). Entrepreneurship, New York: McGraw-Hill / Irwin, 7th Edition,
International Edition, 2006.
2. Byrd, M.J. & Megginson, L.C., (2009). Small Business Management: An Entrepreneurs Guidebook, New York: McGraw-Hill / Irwin ,
6th Edition, International Edition, 2009 (for Family Business topic only)
3. UiTM Entrepreneurship Study Group (MEDEC), (2004). Fundamentals of Entrepreneurship, Petaling Jaya: Pearson-Prentice Hall Sdn.
Bhd. 2004

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