Credits: 3
Pre-requisites: None
Compulsory / Optional: Compulsory for Mechanical Engineering with Business Track of Mechanical Engineering / Optional for Others
Aim(s)
To inspire students and provide them with tools to start engineering ventures by recognizing opportunities, pursuing them and overcoming challenges.
Intended Learning Outcomes
- Explain the value of generating ideas and converting them into business opportunities.
- Analyse the financial and technological feasibility of a new venture.
- Explain how to acquire or develop the resources for a new venture.
- Explain the applicable laws & documentation for creating an organization in Sri Lanka.
- Develop a business plan for a new venture.
Course Content
- Introduction to Entrepreneurship: Role of an entrepreneur in creating jobs and wealth; risks and rewards of starting a business.
- Idea Generation and Feasibility Analysis: Idea to market process; market and competitive analysis; idea generation and creativity; use of technology to lower barriers; sustainability and green businesses.
- Financial Analysis: Raising capital; venture capital; loans etc.; financial analysis and projections; cash management; duties and taxation.
- Writing a Business Plan: Reasons for writing a business plan; outline of plan; presenting the business plan to investors.
- Marketing, Operations Sales and Distribution: Manufacturing or sourcing strategy; advertising and publicity; sales and distribution; online sales; retail sales; intermediaries.
- Technology Strategy: Developing or adoption of technology; acquiring technology; diffusion of technology.
- Legal Framework for a Business: Role proprietorships; partnerships and limited liability companies; registering a company; memorandum and articles of association; labour law and industrial law.
- Leadership and Management: Providing leadership; developing an organizational structure and culture; developing human resources and delegating authority.
- Management of Intellectual Property: Forms of intellectual property; patents and its impact on diffusion of technology.
- Group Project: Develop a business plan for a new venture.
| Time Allocation | Hours |
|---|---|
| Lectures | 18 |
| Tutorials Small Group Discussion | 14 |
| Assignments | 26 |
| Assessment | Percentage Marks |
|---|---|
| Small Group Activities / Case Studies / Assignments / Presentation | 60 |
| End Semester Examination | 40 |