BUSN 640 Innovation Ecosystems

This course explores and examines the marketing strategies and methods used by start-ups, early-stage companies, and small-business enterprises, comparing conventional marketing with entrepreneurial marketing. The focus of the course is tying together strategic issues such as segmentation, branding, and resource allocation combined with specific marketing activities available to the entrepreneur. This course clarifies key marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs and managers.

Credits

3

Outcomes

1. Understand the entrepreneurial mindset and the process of new venture creation: Students should develop an understanding of the entrepreneurial mindset, including traits such as creativity, resilience, and risk-taking. They should also comprehend the step-by-step process of developing a new business venture, from ideation to implementation.
2. Identify and evaluate business opportunities: Students should be able to recognize and evaluate potential business opportunities. They should learn techniques for identifying market gaps, conducting market research, assessing feasibility, and analyzing competitive landscapes.
3. Develop a comprehensive business plan: Students should learn how to develop a well-structured and comprehensive business plan. This includes creating a mission statement, defining business goals and objectives, conducting market analysis, designing a marketing strategy, developing operational plans, and preparing financial projections.
4. Understand legal and regulatory considerations for new ventures: Students should familiarize themselves with legal and regulatory requirements relevant to new business ventures. They should understand the process of business registration, intellectual property protection, contracts, and compliance with applicable laws and regulations.
5. Acquire skills in financial management and funding strategies: Students should develop skills in financial management for new ventures, including financial forecasting, budgeting, and managing cash flow. They should also learn about different sources of funding, such as bootstrapping, venture capital, angel investors, and crowdfunding.
6. Develop marketing and sales strategies: Students should learn how to develop effective marketing and sales strategies for new ventures. They should understand target market identification, positioning, branding, pricing, and distribution channels. They should also learn how to create marketing plans and execute sales strategies.
7. Cultivate skills in team building and leadership: Students should understand the importance of effective team building and leadership in new venture development. They should learn strategies for building a diverse and cohesive team, assigning roles and responsibilities, and motivating team members to achieve common goals.
8. Gain knowledge of operational and resource management: Students should develop an understanding of operational processes and resource management for new ventures. This includes identifying operational requirements, managing suppliers and inventory, optimizing production or service delivery, and ensuring efficient use of resources.
9. Develop skills in risk management and contingency planning: Students should learn how to identify and assess risks associated with new ventures and develop strategies to manage and mitigate those risks. They should also understand the importance of contingency planning and adapting to changing market conditions.