Entrepreneurship and Business Management

Aims of the Programme
The aims of this programme is to give individuals seeking to start their own business the skills, management tools and expertise in making the right decisions, planning and organising effectively.

Outcomes
Upon Completion of this programme participants will:

  • Have explored the realities of running their own business showing an understanding of basic business fundamentals.
  • Understand the standard and the framework and underlying principles of formatting a business plan.
  • Develop a business plan process combining marketing, financial and management plans.
  • Understand the sales and marketing process and in effect be able to produce a sales action plan.
  • Understand the forms of business organisation, the advantages and disadvantages of each.
  • Explore issues relating to business development.

Learning Methodology
This programme addresses a number of key considerations for anyone who is considering starting up their own business

  • Entrepreneurship
  • Thinking Strategically
  • Business Finance
  • Marketing and Sales

The programme contains practical exercises to help participants learn and implement core skills in each of these areas.

Exclusions
Participants will be advised to contact their personal advisers in the areas of Tax and Employment Law.

Course Content
Session 1 Entrepreneurship
 Entrepreneurship – what is it?

EXERCISE Personal skills analysis

  • Identify entrepreneurial traits
  • Assess your suitability as an entrepreneur

Identifying and Developing The Idea

  • How do opportunities arise?
  • Identifying Opportunities
  • Tools to help identify opportunities (SCAMPER)

EXERCISE Develop your idea

EXERCISE Idea Selection: Weighted Pairs

Session 2 Strategic Planning
Market Analysis

EXERCISE Define the business opportunity

Company Strengths and Weaknesses
Identify Threats

EXERCISE Produce a SWOT
Determine the Basis and Scope of Competition

Strategy Implementation
Measuring Performance
EXERCISE Develop Strategic Plan
Session 3 Business Finance
Legal forms of Company Structure
Estimating Business Costs
Sales Price Volume Calculations
Pricing Considerations
Calculating Product / Service Cost
Fixed and Variable Costs
Breakeven

EXERCISE Cash flow Planning

 

Session 4 Marketing and Sales
Introduction to marketing
The 4P’s (Product, Price, Place and Promotion)
Market environment
Market size & trends
Identifying and meeting customer needs

EXERCISE Developing a marketing plan

GOALS AND TARGETS
Desired Result
What’s it worth?
What are the consequences?

TARGET AUDIENCE
Who are they
What do they currently think and do?
What do you want them to think and do?

WHO ARE YOU
Personality
What’s the story?
What’s the one big thing?
Customer Benefit

COMMUNICATION
How should we talk to the audience?

CONTROL AND MEASURE
Measurement