ENTREPRENEURSHIP: CREATIVITY AND INNOVATION (CCE)

SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2H124701
Module Leader Martin MacDonald
School School of Computing, Engineering and Built Environment
Subject SCEBE - School Office
Trimesters
  • A (September start)
  • B (January start)

Summary of Content

The primary focus of this module is to bring forth entrepreneur ial leaders in Oman who will eventually contribute to the country's economy . The mission is to create a culture of 'entrepreneurship' focused on developing creative & innovative activities, growth of new business venture and Self-emp loyment. This course aims to expose students of various academic backgrounds to business venturing and entrepreneurial activity. The course is so designed to meet the challenges of the growing economic needs of Oman and provide a platform for engineering students to showcase their entrepreneur ial and managerial skills learned I developed during the course . The module addresses Oman's Vision 2020 and aims at providing opportunities for students to develop entrepreneur ial mindsets and skills as well as relevant 'soft' sk ills. This will be carried out through a comprehens ive syllabus focusing on entrepreneurship in Oman, planning a business venture, strateg ic planning, environment analysis, marketing strategies, fund ing sources in Oman and risk analys is. Students will have exposure to theoretica l know ledge and be given the opportunity to meet successfu l entrepreneurs in Oman. Students will develop pertinent skills such as team work, self-conf idence, motivation, leadership, creative problem solving, critical thinking, information gathering, research, communication, budgeting, report writ ing and presentation skills that are so much valuable to business and society and also demanded by employers in the job market. Students will develop their business ideas and assess them using knowledge and skills acquired during the course. They will work on a group project and defend their work through presentations. The module will enhance the interpersonal skills of students and bring about a 'wholesome' development in their personal and career life.

Syllabus

The syllabus will cover the following: Theory about entrepreneurship and SMEs, Relevance of entrepreneurship in Oman, Vision 2020 Innovation idea generation, developing your business idea and creativity Importance of doing Market Analysis, Risk Analysis Strategic Planning- Vision, Mission & Objectives Basics of Planning, Organising, Directing, controlling and Coordination Marketing Management, Functions of marketing Management, Market segmentation, Marketing Mix Pricing-types of pricing, Advertising, Promotion, marketing channels, Concepts of Branding, use of Social media in marketing Operations of business - location, materials, resource management, Importance of quality control, importance of logistics, Critical issues in productivity improvement Financial Statements, Profit & Loss Analysis - Fixed cost, var iable cost, semi-variab le cost, Break Even point and Break Even Analysis Understanding the Ecosystem and starting a Business, Support systems, legal process of starting up a business, bankruptcy laws, Patenting, In country Value Finance and capital sources, Funding agencies and Entrepreneurial Fair ( SANAD, Sharaqah, ODB, Shell - lntilaqah, Ruwad, Tawas ul, lnjaz) Corporate Social responsibility and Business Ethics

Learning Outcomes

On completion of this module srudents should be able to:-1. Evaluate the basics of entrepreneurship, its impact on the local and global economies and its role in Vision [C5,D2,D3,D4,D6,D7,D8,D10,D14,D16,D13].[AM1].2. Reflect on entrepreneurial mindsets and skills required to be a successfulentrepreneur[B5,C5,D2,D3,D4,D6,D7,D8,D10,D11,D13, D14,D16]. [AM1, 2, 7].3. Apply the principles of planning, marketing, risk assessment and operation management in the business plan [ A6,B2,C5,D2,D18]. [AM6,9].4. Apply the principles of accounting/ financial statements and prepare Profit-Loss statement for the business idea generated [A6, B2, C5, D2,D18].[AM6].5. Identify the capital venture sources and support systems available in Oman for business start-ups. [C5, D2].[AM 9]6. Demonstrate a viable plan that would initiate a new business [B1, B3, C5, D2, D18]. [AM9]7. Reflect on the key components to produce a well thought out Business Plan.[ B4, C5, D2, D9, D15, D17].[AM9,3].8. Defend business idea and interact with entrepreneurs within the local community.[A6, B2, C5, D2, D15, D17]. [AM8].

Teaching / Learning Strategy

Learning will be facilitated through various teaching and learning strategies such as workshops, lectures, e-learning, on-line quizzes, presentations, team work, entrepreneurial fair, guest speaker sessions, case studies, tutorials and independent learning. Students will also produce a Business Model Canvas in area of their spec ialisation and present their business idea. Students will be introduced to var ious ongoing initiatives in Oman and will be encouraged to participate and showcase their business idea at various national forums . Students will participate in regular assessed discussion on the Blackboard and engage in independent further readings in the Learning Resource Center. Students will be motivated to collect information through blogs, SME specific portal and from discuss ion with entrep reneurs to broaden their understanding. Talks by SME owners, invited Guest Speakers will form an important part of the learning process.

Indicative Reading

Books: Ashton, R., 2012 . How to Start Your Own Business for Entrepreneurs. 2nd edition. Pearson Education . Atr ill, P. & McLaney , E., 2008. Accounting and Finance for Non-Specialists, 6th edition. England. Prentice Hall. Evans, V., 2011. FT Essential Guide to Writing a Business Plan How to win backing to start up or grow your business . London: Pearson Education. Finch, B., 2006. How to Write a Business Plan. London: Kogan Page Ltd. Forsyth, P., 2009. Effective Business Writing. London: Kogan Page Ltd. Mariotti, S, 2011 Entrepreneurship - Owning Your Future, Eleventh Edition, Prentice Hall ISBN-13: 978-0-13-512844-2 Harper, S.C., 2003. The McGraw-Hiff Guide to Starting Your Own Business: A Step-By\- Step Blueprint for the First- Time Entrepreneur. McGraw-Hill Professional. Heizer, J. & Render, B., 2011. Principles of Operation Management, 8th edition. New Jersey. Pearson Education. Hisrich, R.D., Peters, M. P. & Shepherd, D.A., 2005 . Entrepreneurship . McGraw\- Hill/Irwin. Johnson, M.D., 2012. Rules of the Hunt: Real-World Advice for Entrepreneurial and Business Success. US. McGraw -Hill. Kirby, D.A., 2003. Entrepreneurship . McGraw-H ill Education. Morris, M. J., 2008. Starting a Successful Business: Start Up and Grow Your Own Company. London: Kogan Page Ltd. Morriott i, S, 2011 . Entrepreneurship :Owning your future, 11TH edition, NFTE, Prentice Hall Ramachandran, K., 2008. Entrepreneurship Development , Tata McGraw-Hill. Reuvid, J., 2008. Working for Yourself: An Entrepreneur's Guide to the Basics. London: Kogan Page Ltd. Wickham, P.A., 2012 . Strategic Entrepreneurship. Prentice Hall, Journals I Magazines: International Journa l of Entrepreneursh ip and Small Business (IJESB) ISSN (Online): 1741-8054 - ISSN (Print): 1476-1297 The Journal of Entrepreneu rship, Entrepreneurship Development Institute of India Strategic Entrepreneurship Journal, John Wiley & Sons International Journal of Entrepreneuria l Behaviour & Research, ISSN: 1355-2554 Oman Economic Review Websites: lnjaz ai-Arab http://www.injazalarab.org Tawasul- Empowering Civil Society in Oman http://www.tawasuI.co.om/ Ministry of Information, Sultanate of Oman http://www.omanet.om/e nglish/home .asp The Public Establishments for Industrial Estates, Oman (for informat ion on Industrial Estates in Oman) http://www.pe ie.om/index .php The Knowledge Oasis, Muscat http://www.kom.om/index.shtml The Knowledge Mine (TKM) (Support for start-up business ideas, business viability information, Business Plan surgery, Ernst & Young Big Business Idea Competition) http://www .kom.om/index41f7.html?lang=en&sub=tkm Ernst & Young Oman Website (Ernst & Young Big Business Idea Competition) http://www.ey.com/g lobal/content.nsf/Midd le_ East/About_Us_ Oman The portal of Oman Chamber of Commerce & Industry (Description of Sanad Programme) http://www.chamberoman.com/sanad_occi_sanad_objectives.asp Shell's lntilaaqah Funding Programme http://www .intilaaqah.org/index .html http://www.intilaaqah.org/intilaaqah-faq. html GroFin - SME Finance and Development Company http://www .grofin.com/home.asp?pid=115 Dissertations AI Shauibi, Khalid (2007) Towards the creation of an Entrep reneurial Society in Oman The impact of Government intervention to facilitate the development and success of small and medium enterprises in Oman . MBA Dissertation thesis, University of Nottingham. Available at edissertations.nottingham.ac. uk/1620/ 1/07MBA iixas6.pdf Budhwar, Pawan, AI-Yahmad i, Saud and Debrah, Yaw,Human Resource Development in the Sultanate of Oman. International Journal of Training and Development , Vol. 6, pp. 198-2 15, 2002. Available at SSRN: http://ssrn.com/abstract =330368 Additional reading will be suggested by the tutors

Transferrable Skills

Entrepreneurial & Managerialskills Criticalthinking & Problem solving skills Creativity & innovation Interpersonal skills Team work skills Research & Report writing skills Presentation & Defending skills Networking skills

Module Structure

Activity Total Hours
Independent Learning (FT) 100.00
Tutorials (FT) 12.00
Assessment (FT) 16.00
Lectures (FT) 72.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 3 n/a 25.00 35% Business Plan Defense
Coursework 2 n/a 50.00 35% Business Plan
Coursework 1 n/a 25.00 35% Case Study Analysis