New Venture Creation
University of the South Pacific
Area of Study
Taught In English
Two 200-level MG courses
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Credits3 - 4
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewEntrepreneurship is growing at a phenomenal degree in Asian countries. This course on entrepreneurship deals with the creation of new ventures. Furthermore, small business and entrepreneurship have engendered considerable interest in the island nations of the South Pacific in the late 1980s and 1990s. Additionally, the small business sector has given the economies of the Pacific Island countries (PICs) much of its recent vitality through the creation of new jobs and the development of new products and services. Small-scale enterprises have played, and continue to play, a crucial role in the development of free enterprise economies in the small states. Beyond these economic contributions, small business provides unbounded opportunities for individuals to pursue dreams of independence and financial success. It is envisaged to play a similar role in the island nations of the South Pacific.Almost all Pacific Island governments perceive the need to foster indigenous businesses, not only as a crucial component of the private sector (which is increasingly recognised as the only certain source of dynamic economic growth), but also as a means of achieving valued social objectives including a more balanced pattern of development and employment expansion. Furthermore, small business seems to have captured the spirit of the times.The purpose of this course is to augment your interest in the exciting world of small business. Another is to get you to consider small business ownership as a career. A final purpose is to describe the means by which a new venture is planned and managed. This course explores the skills, attitudes and knowledge needed to create and manage new ventures. Thus, it will focus on finding and developing opportunities for promising new enterprises with growth potential. The key objectives are to equip students with the knowledge and skills they need to: (1) Assess their own potential as entrepreneurs.Learning Outcomes- Be familiar with the principal financial statements needed for any entrepreneurial venture?the balance sheet, income statement and cash-flow statement.- Be able to develop a complete business plan.- Be able to utilize the legal forms of organization?sole proprietorship, partnership, incorporated companies in businesses.- Use the existing informal risk-capital market (including ?angel capital?) in raising capital.- Be familiar of the importance of family businesses and their unique problems.Course ContentEntrepreneur and EntrepreneurshipDefinition of entrepreneurApproaches to entrepreneurshipCharacteristics of successful entrepreneursSmall Business Development in the South PacificEntrepreneurship in the South PacificProblems of Definition and Nature of Small FirmsThe Role of Small Scale EnterprisesPersonal requirements for success in businessWhy people go into businessReadingEntrepreneurial Mind and BehaviourThe dark side of entrepreneurshipEntrepreneurial riskStress and entrepreneurEntrepreneurial risk and egoEntrepreneurship and sustainable developmentEthics and Social EntrepreneurshipDefining entrepreneurial ethicsEthics and lawsStrategy for ethical responsibilityBusiness ethics in the cross-cultural worldEthical leadership by entrepreneursInnovationSocial entrepreneurship and ecopreneursOpportunity and the creative pursuit of innovative ideasMarketing Challenges for Entrepreneurial Venture, Pathways to Entrepreneurial VenturesEnvironmental Assessment: Regulation, industry and communityEntrepreneurial marketing for new venturesMarketing strategiesMarketing planMarketing research methodsConsumer characteristicsMarketing strategies for growing venturesPathways to Entrepreneurial Ventures?acquiring an established venture?franchising and minipreneurship?social venturingMeasuring performance for Entrepreneurial VenturesImportance of financial statementsPreparation of financial statementsImplications of capital budgetingUsefulness of break-even and ratio analysisCash flow analysisSustainability performance measuresDevelopment of a Sustainable Business PlanImportance of a business planWhat is a sustainable business plan?Benefits of a Business PlanSegments of a business planPreparation and presentation of a business planAssessment and Commercialization of Entrepreneurial OpportunitiesOpportunity IdentificationAssessment of the EnvironmentProject SelectionHow to Screen Your Business IdeaThe Pre-Feasibility StudyLegal and Regulatory Aspects of Business FormationSole Trader or ProprietorshipPartnershipsBankruptcyCompany, Limited CompanyJoint VenturesLegal Requirements to Start a BusinessSome Common Law Rights and ResponsibilitiesIntellectual property rights ? patents, trade secrets, copyright, trade marksSources of capital for entrepreneurial venturesSources of financial capitalDebt and equity methods of financingCommercial loans and public stock offeringsInformal risk capital marketAngel financingVenture capital marketPrivate placementStrategic entrepreneurial growthStrategic entrepreneurship for emerging ventures? the nature of planning in emerging firms? strategic planning? the nature of operational planningEntrepreneurial strategyStrategic sustainable developmentManaging entrepreneurial growthventure development stagesbuilding the adaptive firmtransition from an entrepreneur to managerattaining entrepreneurship leadership in the new millenniumGlobal opportunities for entrepreneursThe Asia-Pacific entrepreneurshipMultilateral institutionsGoing globalInternational marketplaceFeasibility study outline for global marketing entryFranchisingFamily BusinessesEntrepreneurial succession: succession and continuityChallenges facing family entrepreneursKey factors in successionDeveloping a succession strategyThe harvest strategyDisadvantaged entrepreneurs: women and indigenous groupsTextbooksHoward H. Frederick, Allan O?Connor and Donald F. Kuratko (2013), ?Entrepreneurship, Theory, Process, and Practice, 3nd Edition, Cengage Learning, Victoria, Australia.AssessmentMid term exam: 20%Group Project: 20%Tutorial attendance: 5%Tutorial participation: 55Final Exam: 50%
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
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Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
Please reference fall and spring course lists as not all courses are taught during both semesters.
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