RMIT University Vietnam
Ho Chi Minh City, Vietnam
Area of Study
Business, Business Management, Entrepreneurial Management
Taught In English
Host University Units12
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
In this course, students will undertake a process that integrates comprehension and skills of entrepreneurship, innovation, creativity, commercialisation, and strategic management with their basic prior knowledge of accounting, finance, statistics, marketing, and sales. Students will learn how to evaluate a business opportunity and develop it through the various stages of commercialisation towards an operational business model for early-stage enterprises. The overarching goal of the course is to provide students with an understanding of the entrepreneurial process and the implications of the new venture startup process.
This course is designed for students that already have ideas or want to explore and create a business idea. Students will learn how to take a business idea, assess that idea, conduct a feasibility analysis, test the need of the product with customers, develop an appropriate business model, practice pitching the idea to appropriate parties and complete a detailed business plan. The course provides exposure to the stresses of a start-up business, the uncertainties that exist, and the behaviour of entrepreneurs.
This course will be organized around identifying whether the student’s idea is a real and viable opportunity for creating a venture that adds value to their life, potential investors and partners, and the society at large. The idea that the student pursues in this course need not be limited to a for-profit venture. We will analyse entrepreneurship very broadly and consider legitimate ideas oriented towards the formation of an enterprise that creates value by bringing people and resources together. Students will be challenged to push the boundaries of established business to identify unmet customer needs that the new enterprise can address. Some of the most important aspects of the business concept include a careful analysis of the following: customer needs, product and service offerings, markets and strategy, marketing, intellectual property, operations, financials and financing. In addition, the new enterprise should have the potential to create superior returns in the form of profits (economic and/or social).
On completion of this course you should be able to:
- determine the appropriate business model for the student’s business idea.
- develop a venture capital ready financial model and financing plan suited for product idea for the chosen market space.
- deliver several investor pitches for the appropriate audiences.
- create and develop a detailed and effective business plan for the student’s proposed business.
- understand the legal considerations of business start-up, to include intellectual property considerations, tax relevant issues, and the impact of the legal environment on the student’s proposed business.
- identify, evaluate, and pursue a business opportunity.