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Course Name (English)
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ENTREPRENEURSHIP IN RETAILING
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| Course Code |
RET647 |
| Course Description |
This high-energy course will help student evaluate the pros and cons of becoming an entrepreneur, the different ways in which student might consider owning a business, the legal and financial requirements for business ownership, government regulations and assistance available for small business owners, and determining student personality traits, drive, and energy to pursue a startup operation. This course will be a mixture of: class discussion, simulation retail store, case studies, field trips, and other hands-on work in determining whether a life of business ownership is for the student. The course will require student to: read, research, “learning by doing simulation retail business” and evaluate their businesses outcome in order to arrive at a comprehensive assessment of this type of future endeavor. |
| Transferable Skills |
Able to apply an ideas to implement retail entrepreneurship theories and contribute positively in a team with ethical frameworks. |
| Teaching Methodologies |
Lectures, Seminar/Colloquium, Simulation Activity |
| CLO |
| CLO1 |
Analyse the important concepts and principles of retail entrepreneurship |
| CLO2 |
Accommodate values, attitudes and professionalism through analysis of retail business concepts, issues and legal requirements in retail entrepreneurship |
| CLO3 |
Present ideas in verbal and written to appreciate theories and concept retail entrepreneurship |
| CLO4 |
Demonstrate managerial and entrepreneurial mindset by setting up on site/ off site retail business |
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| Pre-Requisite Courses |
No course recommendations |
| Topics |
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1. 1.Becoming An Entrepreneur: The Stereotypes
1.1) 1.1 Pathways to Entrepreneurship
1.2) 1.2 Traditional Entrepreneur
1.3) 1.3 Home Based Entrepreneur
1.4) 1.4 Internet Entrepreneur
1.5) 1.5 Serial or Portfolio Entrepreneur Opportunities & Challenges
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2. 2.Creating, Preparing and Starting the Business:
2.1) 2.1 Find a Mentor
2.2) 2.2 Build a Network?
2.3) 2.3 Attending Business Related Forum, Discussion, Seminar etc.
2.4) 2.4 Acquire or Improve Entrepreneurs Skills
2.5) 2.5 Study an Industry
2.6) 2.6 New Business?
2.7) 2.7 The Family Business?
2.8) 2.8 Buyouts?
2.9) 2.9 Franchising?
2.10) 2.10 Licensing
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3. 3. Choose Appropriate Business Concepts
3.1) 3.1 Type of Business?
3.2) 3.2 Sole Proprietorships?
3.3) 3.3 Partnerships?Corporation?
3.4) 3.4 Limited Liability
3.5) 3.5 Company?Legal Requirements?
3.6) 3.6 The Feasibility of the Business
3.7) 3.7 Understanding the Market & Demand
3.8) 3.8 Understanding the Products/Services
3.9) 3.9 Understanding the Distribution Channel/Suppliers
3.10) 3.10 Understanding the Location & Price Strategies
3.11) 3.11 Understanding the Competitors Strategies
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4. 4.0 Projecting Financial Requirements
4.1) 4.1 The Purpose & Need for Forecasting
4.2) 4.2 Forecasting Profitability?
4.3) 4.3 Forecasting Asset?
4.4) 4.4 Forecasting Cash Flows
4.5) 4.5 Sources of Financing: Government,?Banks,?Others
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5. 5.0 Employees
5.1) 5.1 Need for Quality Staffs
5.2) 5.2 Sources of Staffs?
5.3) 5.3 Select, Train & Compensate Appropriately
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6. 6.0 Enterprise Marketing
6.1) Goal of Business, Goal setting, SMART Goals
6.2) 6.2 Marketing and Sales Strategy
6.3) 6.3 Branding : Business name, logo, tagline
6.4) 6.4 Promotion Strategy
6.5) 6.5 Negotiations – Importance and methods
6.6) 6.6 Customer Relations
6.7) 6.7 Business Failure
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7. 7.0 Creating & Preparing Business Plan
7.1) 7.1 Purpose of Business Plan
7.2) 7.2 Content & Format?
7.3) 7.3 Effective Written
7.4) 7.4Presentation Presenting the Business Plan
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8. 8.0 Managing Growth, Change & Risk
8.1) 8.1 Type of Growth, Change & Risks
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| Assessment Breakdown | % |
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| Continuous Assessment | 100.00% |
| Details of Continuous Assessment |
| Assessment Type |
Assessment Description |
% of Total Mark |
CLO |
| Assignment |
Assignment 2 |
20% |
CLO3
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| Assignment |
Assignment 1
(Business plan) |
30% |
CLO2
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| Assignment |
Assignment 3
(Social Media Portfolio) |
30% |
CLO4
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| Test |
Test |
20% |
CLO1
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| Reading List | | Recommended Text | - Robert Hisrich, Michael Peters and Dean Shepherd 2013, Entrepreneurship, 9th edition Ed., McGrawHill
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| Reference Book Resources | - David Stokes, Nicholas Wilson, Small Business Management and Entrepreneurship, 5th edition Ed., Thomson
- Acs, Zoltan J., Audretsch, David B. (Eds.), Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction, 2012 Ed., Springer
- Norman M. Scarborough, Jeffrey R. Cornwall 2014, Essentials of Entrepreneurship and Small Business Managemen, 8th revised edition Ed., Blackwell
- Norman M.Scarborough,Jeffret R.Cornwall 2015, Entrepreneurship and Effective Small Business Management, 11 Ed., Pearson Higher Education
- William D. Bygrave and Andrew Zacharakis 2014, Entrepreneurship, 3rd edition Ed., Wiley
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| Article/Paper List | This Course does not have any article/paper resources |
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| Other References | This Course does not have any other resources |
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