Starting and Managing a Business

Singapore University of Social Sciences

Starting and Managing a Business (BUS357)

Synopsis

BUS357 Starting and Managing a Business provides students with fundamental knowledge of entrepreneurship and its value to society, markets, and to individual entrepreneurs who innovate. The course provides an explanation of the entrepreneurial mindset and characteristics that drive success. It also provides tools to help entrepreneurs identify and act upon opportunities and able to swiftly pivot when required to. Students will get a first-hand experience of how it is like to build a start-up, from having an idea to validating it to pitching the idea to investors. Students will form groups to brainstorm business ideas and go through the process of validating and testing the idea and coming up with a prototype and eventually prepare a pitch for investors. The course would also discuss frameworks for (i) strategic, financial, legal, and business planning to start and develop a business, and (ii) exit strategy for the entrepreneur.

Level: 3
Credit Units: 5
Presentation Pattern: EVERY REGULAR SEMESTER

Topics

Entrepreneurship and starting a business
Identifying business ideas and pain points
Lean start-up models: problem hypothesis and testing assumptions
Validating the ideas and pivoting
Business models: lean canvas, customer segments, value proposition, income stream and cost drivers
Business plans: traditional vs start-up
Lean marketing and financing
Introduction to social enterprises
Legal framework and eco-systems
Crises Management: reacting to setbacks/crises
Going global and introduction to cultural intelligence
Business valuation and pitching for funding

Learning Outcome

Analyse opportunities for entrepreneurship, including social entrepreneuship, and identify customer pain points.
Appraise and validate business ideas and assumptions using 'lean start-up methods'.
Construct business models and business plans for new start-ups and traditional business, including regulatory frameworks.
Apply the essential knowledge and interpersonal skills to work effectively in a team.
Demostrate proficiency in writing a business plan.
Practise making oral presentations in class or recorded video in areas related to starting and managing a business, including pitching to investors.