GSB 717 Entrepreneurship and Small Business
We live in a dynamic world characterised by rapid changes in all aspects of our lives. New products and new technologies change the way we live and work. Job security, once enjoyed by many employees, is now a thing of the past. Organisational restructuring, in response to changing environmental conditions, has led to several job losses. Many of those who remain in the workforce are dissatisfied with working conditions in organisations where they have little opportunity to contribute to decisions that affect them. Others are searching for something new and exciting. Owning and operating a business is one avenue for dealing with these issues.
The Entrepreneurship and Small Business unit will guide you through the processes involved in recognising and developing business ideas, evaluating the feasibility of ideas, successfully implementing the ideas, and maintaining and enhancing the idea. It provides an opportunity to experience the entrepreneurial process by applying concepts from this and other MBA units to developing a plan for an actual business. The information, skills, and attitudes acquired from the unit will be valuable to managing various organisations.
The unit integrates and applies knowledge from various other disciplines to establishing and growing a business through development of a business plan. GSB 717 is an advanced unit. It draws on concepts and theories from several other disciplines, particularly, from marketing and accounting. You are therefore required to complete the following two units before enrolling in this unit—GSB 702 Fundamentals of Accounting and Finance for Managers OR GSB 701 Introductory Accounting and GSB 731 Marketing Management.
The study guide contains several readings; however, the contents would be familiar if you have completed the prerequisites. It requires ‘light’ reading, as you do not have to memorise concepts for an examination. There are two assignments—the first involves an assessment of the feasibility of an idea presented in a business plan and an analysis of the business plan. This assignment will help you with the second and major assignment—writing a business plan for a new or existing business.
Students have found the unit interesting, challenging, sometimes controversial, and very useful if they are in business or are contemplating starting one. Many students who complete the unit express these views. This is a quote from a past student: ‘the unit is a great summary of all the previous units that I completed, with an emphasis on implementing ideas, thoughts and strategies. GSB 717 has crystallised my thoughts and has allowed me to realise the value of the MBA program I have undertaken’.