Venture Creation

At the end of this course, students, through case study and practical approaches, should be able to: 1. describe the key steps in venture creation; 2. spot 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 mall 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 organisations and Business plan competition). Entrepreneurial marketing and e-commerce (Principles of marketing, Customer Acquisition & 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 & 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 and many others, Digital Business and E-Commerce Strategies).