Entrepreneurship and Innovation

At the end of this course, students should be able to: 1. explain the concepts and theories of entrepreneurship, intrapreneurship, opportunity seeking, new value creation and risk-taking; 2. state the characteristics of an entrepreneur; 3. analyse the importance of micro and small businesses in wealth creation, employment generation and financial independence; engage in entrepreneurial thinking; 4. identify key elements in innovation; 5. describe the stages in enterprise formation, partnership and networking, including business planning; 6. describe contemporary entrepreneurial issues in Nigeria, Africa and the rest of the world; and 7. state the basic principles of e-commerce.

The concept of entrepreneurship (entrepreneurship, intrapreneurship/corporate entrepreneurship); theories, rationale and relevance of entrepreneurship (Schumpeterian and other perspectives, risk-taking, necessity and opportunity-based entrepreneurship, and creative destruction); characteristics of entrepreneurs (opportunity seeker, risk-taker, natural and nurtured, problem solver and change agent, innovator and creative thinker); entrepreneurial thinking (critical thinking, reflective thinking and creative thinking). Innovation (The concept of innovation, dimensions of innovation, change and innovation, knowledge and innovation). Enterprise formation, partnership and networking (basics of business plan, forms of business ownership, business registration and alliance formation, and joint ventures). Contemporary entrepreneurship issues (knowledge, skills and technology, intellectual property, virtual office and networking). Entrepreneurship in Nigeria (biography of inspirational entrepreneurs, youth and women entrepreneurship, entrepreneurship support institutions, youth enterprise networks and environmental and cultural barriers to entrepreneurship). Basic principles of e-commerce.