Venture Creation

At the end of this course, students should be able to: 1. describe the key steps in venture creation; 2. identify opportunities in problems and in high potential sectors regardless of geographical location; 3. state how original products, ideas, and concepts are developed; 4. develop business concept for further incubation or pitching for funding; 5. identify key sources of entrepreneurial finance; 6. implement the requirements for establishing and managing micro and small enterprises; 7. conduct entrepreneurial marketing and e-commerce; 8. apply a wide variety of emerging technological solutions to entrepreneurship; and 9. appreciate why ventures fail due to lack of planning and poor implementation.

Opportunity identification (sources of business opportunities in Nigeria, environmental scanning, demand and supply gap/unmet needs/market gaps/market research, unutilised resources, social and climate conditions and technology adoption gap). New business development (business planning, market research). Entrepreneurial finance (venture capital, equity finance, Micro finance, Personal savings, small business investment organizations and 74 business plan competition). Entrepreneurial marketing and e-commerce (principles of marketing, customer acquisition and retention, B2B, C2C and B2C models of e-commerce, first mover advantage, E-commerce business models and successful E-commerce companies,). Small business management/family business. Leadership and management, basic book keeping, nature of family business and family business growth model. Negotiation and business communication (strategy and tactics of negotiation, bargaining, traditional and modern business communication methods). Opportunity discovery demonstrations (business idea generation presentations, business idea contest, brainstorming sessions, idea pitching), technological solutions (the concept of market/customer solution, customer solution and emerging technologies, business applications of new technologies. Artificial intelligence (AI). Virtual/mixed reality (VR). Internet of things (IoTs). Blockchain. Cloud computing. Renewable energy. Digital Business and e-commerce strategies).