The literature on planning for new venture success has provided mixed results. For instance some academics have suggested that nascent entrepreneurs need to do a better job at planning for the future. Indeed, recent findings hold that planning might be more related to the success of new ventures than established firms. Other evidence supports that entrepreneurs tend to rely more on informal planning mechanisms. Nonetheless, theoretical issues such as goal setting theory holds that planning improve most subsequent human action. At completion of this module, the students are expected to have prepared a formal business plan ready for soliciting finance or venture capital. Therefore the course dynamic will take an action learning approach in which the students will be writing their business plan as they are being introduced to different concepts. The development of the formal business plan will be aided by the use of business plan writing guide.
The course looks at how economic theories and analytical tools help managers make optimal business and management decisions.
The literature on planning for new venture success has provided mixed results. For instance some academics have suggested that nascent entrepreneurs need to do a better job at planning for the future. Indeed, recent findings hold that planning might be more related to the success of new ventures than established firms. Other evidence supports that entrepreneurs tend to rely more on informal planning mechanisms. Nonetheless, theoretical issues such as goal setting theory holds that planning improve most subsequent human action. At completion of this module, the students are expected to have prepared a formal business plan ready for soliciting finance or venture capital. Therefore the course dynamic will take an action learning approach in which the students will be writing their business plan as they are being introduced to different concepts. The development of the formal business plan will be aided by the use of business plan writing guide.