Post-Graduate Diploma in Management

(PGDM-FT)

Area: Strategy, Innovation & Entrepreneurship

Course Title – Entrepreneurship and Business Development in India

Course Faculty:Prof. Shalini Rahul

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Course Description:

Entrepreneurs are the driving force behind economic growth. They take on the onus to develop new products and services; and bring about the relevant changes in society. They are the ones who have adopted the less trodden paths and have made societies and organizations realise that ‘breaking the mould’ has its own advantages, especially if the country and its citizens have to claim that they are thriving and growing. So right from changing the mindset of people around them to changing the consumption patterns of the consumers to creating economic wealth for everyone; stories of entrepreneurs are not only enticing, captivating but also provide us gems of learnings. One is therefore, forever curious to understand the ways in which entrepreneurs perceive opportunities, accept risk, devise unique business models, and create healthy, innovative and competitive ventures. This course is precisely meant to answer these questions.

The purpose of this course is to explore the many dimensions of new venture creation and growth, and to foster innovation and new business formations in independent and corporate settings. We will be concerned with content and process questions as well as with formulation and implementation issues that relate to conceptualizing, developing and managing successful new ventures. The general objective of this course is to introduce participants to the theory and practice of Entrepreneurship in context of a region - India. Entrepreneurship is not new to an Indian society, but there has hardly been an effort made to uniquely position this course with this perspective. Thus the idea would be to get acquainted with the idea of being an ‘entrepreneur’ and understand the process of new venture creation. The following sections will then, enable you to appreciate the nuances of managing an entrepreneurial firm, while evaluating and data and decisions from various lenses like marketing, finance etc. During the entire course, you shall be expected to understand how an Indian society and its various cultural facets influence the creation, management and sustenance of new ventures.

Learning Objectives:

This course endeavors to develop students with the following specific learning objectives–

1.To enable students to demonstrate understanding of social and economic responsibilities in a business context (Sub-goal 2.1).

2.To learn to transform ideas into action, learn from your peers and role models on how to be both thoughtful and effective.

3.To develop a business plan for a new venture.

4.To understand how start-ups can acquire and utilize necessary resources for running the business.

5.To understand how globalization affects the entrepreneurs and enterprises.

6.To appreciate the role of entrepreneurship in other contexts such as not-for-profit and public sector.

Pedagogy:

The course shall be delivered essentially through a fusion of case study discussions, lectures, exercises, and by discussing real life examples. Total20 sessions of 1 hr 15 minutes each would be conducted.Students are encouraged to interact with the faculty during the entire duration of course delivery and particularly during analyzing situations.

Course Requirements:

  1. Since much of the course material requires class discussion, it is important that you are prepared for the class and present and defend your ideas clearly. Preparation for class includes having read the assigned material.
  2. For all group assignments, each group will submit its recommendations/solutions meeting the deadlines specified by the faculty. Late submissions will not be accepted.
  3. Class participation will be based on the value you add to the class through your questions, statement, and comments. It is the quality of these that is more important than the quantity.
  4. This course involves a lot of reading and thinking. Hence, you are advised to read articles and news-items related to the course, bring your ideas to class and share them with your peers.
  5. Mobile phones shall strictly be switched off before the start of each session. Silent mode is not permissible to ensure focused learning. Laptops/tablets can be used by the students in the classroom only upon the instruction of the faculty.

Evaluation

Individual Assignment : 15%

Class Participation : 10%

Field Based Project : 20%

Case study assignment : 15%

End Term : 40%

Specific Assessment Method / Weight / Intended Objectives to be Assessed
1* / 2 / 3 / 4 / 5 / 6
Individual Assignment / 15% / √ / √ / √ / √ / √
Group Project / 20% / √ / √ / √ / √ / √ / √
Cases Study Assignment* / 15% / √ / √ / √
Class Participation / 10% / √ / √ / √ / √
End Term Examination / 40% / √ / √ / √ / √ / √ / √

*AACSB AOL-Sub Goal (2.1) to be assessed in the course: “To demonstrate understanding of social and economic responsibilities in a business context”.

Group Project

The group project will be an important learning tool of the course. It is essentially an application of the classroom learning. The project shall be assigned by the faculty at the end of session 2. The project, while not being highly complicated, will require some deep thinking by the students before forming a conclusion.

Cases Study Assignments

A Short case study will be given to you; you would have to submit the analysis of that case, which shall be assessed for the purpose of AACSB AoL

Reference Books

  • Entrepreneurship: A South Asian Perspective; Donald F. Kuratko and T.V. Rao, 9th Edition, South – Western Educational Publication, 2010
  • Bruce R. Barringer, and Duane Ireland, 2009, Entrepreneurship: Successfully launching new ventures, Pearson.
  • Vasanth Desai, 2007, Dynamics of Entrepreneurial Development and Management, Himalaya Publishing House, Millenium Edition.
  • Dr. Vasant Desai, 2006, Small Scale Industries and Entrepreneurship, Himalaya Publishing House.
  • David H. Hott, 2004, Entrepreneurship New Venture Creation, PHI.
  • Poornima. M Charantimath, 2006, Entrepreneurial Development and Small Business Enterprises, Pearson Education.
  • Morse.E.A., Mitchell.R.K., 2006, Cases in Entrepreneurship, Sage Publications.
  • Donald G. Kuratko and Richard M. Hodgetts, 2006, Entrepreneurship, Thomson
  • Baumol, W. (2010) ‘The Micro theory of Innovative Entrepreneurship, Princeton, Princeton University Press
  • Acs, Z.J. and D.B. Audretsch (2005) ‘Entrepreneurship, Innovation and Technological Change’ Boston, Now Publishers
  • Mitra, J. (2012) ‘Entrepreneurship, Innovation and Regional Development’ Abingdon, Routledge
  • Bhide, A. (2008) ‘The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World’, Princeton, Princeton University Press
  • Audretsch, D. B. (2006) ‘Entrepreneurship, Innovation and Economic Growth’ Cheltenham, Edward Elgar

Journals

Entrepreneurship: Theory and Practice

Entrepreneurship, Innovation and Change

Small Business Economics

Harvard Business Review

International Journal of Management and Enterprise Development

Journal of Business Venturing

International Small Business Journal

International Journal of Entrepreneurship and Innovation

Journal of Small Business and Enterprise Development

Journal of Enterprising Culture

Journal of Entrepreneurship

McKinsey Quarterly

Sloan Management Review

Course Outline: Session/Module/Reading Material

Sessions 1 & 2:Introduction to Entrepreneurship

30 minutes / 25 minutes / 25 minutes / 50 minutes
Entrepreneurship – Definition, Philosophy, History, role within an economy. Types of ventures. Entrepreneurial traits. Entrepreneurial mindset. Motivation for entrepreneurs / Entrepreneurship in a global context / Entrepreneurship in India / Case Discussions and Article Presentations.

Sessions 3-4:Entrepreneurial Mindset

Sessions 3 & 4 (150 minutes)
30 minutes / 30 minutes / 30 minutes / 30 minutes / 30 minutes
Psychological Theories of Entrepreneurship – People, traits, characteristics and behaviour / Sociological Theories – the social dimension of entrepreneurship, social capital, networks / Types of entrepreneurs – individual, team-based, female, social and corporate entrepreneurs and intrapreneurs / Entrepreneurs and Managers / Common Myths about Entrepreneurs

Sessions 5-6: Innovation, Creativity & Opportunity Identification

Sessions 5 & 6 (150 minutes)
20 minutes / 30 minutes / 30 minutes / 30 minutes / 40 minutes
Innovation and Creativity / Innovation as a source of Business Opportunity / Opportunity Identification Process / Evaluation of Opportunities / Case Discussion

Session 7-8:Entrepreneurial Organization| How to make a beginning

Sessions 7 & 8 (150 minutes)
20 minutes / 20 minutes / 30 minutes / 30 minutes / 50 minutes
Forms of business ownership / Franchising mode – benefits and drawbacks / Buying existing business – evaluating and due diligence / Challenges of a start up – how to make a beginning / Case and article discussion

Session 9-10: Feasibility Analysis and Business plan

Sessions 9 & 10 (150 minutes)
30 minutes / 30 minutes / 20 minutes / 20 minutes / 50 minutes
Conducting Feasibility Analysis / Developing a business Plan – Elements of a business plan / Importance of Business model / Assessment of Viability / Business plan presentation

Sessions 11 - 12: Marketing Considerations

30 minutes / 50 minutes / 20 minutes / 50 minutes
Building a marketing plan /
  • Determining customer needs, Importance of market research
  • Internet and marketing
/ Pricing strategies
Role of E-commerce / Case Discussion and article presentation

Sessions 13 - 14: Financial Considerations

Sessions 13 & 14 (150 minutes)
30 minutes / 25 minutes / 35 minutes / 40 minutes
Creating a financial plan / Sources of financing: Debt and Equity / Managing cash flow
Bootstrapping / Case discussion

Sessions 15 - 16:Growth Challenges & Scaling up

Sessions 15 & 16 (150 minutes)
50 minutes / 35 minutes / 75 minutes
Difficulties of growth and how to handle it / Scaling up a new venture / Case Discussion

Sessions 17 - 18:Doing Business in India

Sessions 17 & 18 (150 minutes)
30 minutes / 30 minutes / 50 minutes / 40 minutes
State wise variations / Local reforms / Adopting good practices / Dealing with permits, registrations, contracts, etc.

Sessions 19 - 20: Risks and Rewards of Entrepreneurship

Sessions 1920 (150 minutes)
30 minutes / 30 minutes / 50 minutes / 40 minutes
Risks and Rewards of Entrepreneurship / Social Entrepreneurship / B- Plan Discussion / B – Plan Discussion

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