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Entrepreneurship Essentials

Indian Institute of Technology, Kharagpur via NPTEL

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The course provides foundational knowledge on various aspects of entrepreneurial venture creation and management during its life-cycle. It has been designed to address multidisciplinary audiences. The objective of the course is to teach key issues faced by entrepreneurs and managers at different stages of the life-cycle of an enterprise and is relevant to both for aspiring entrepreneurs and for decision makers in established enterprises. Topics can be classified in some major themes such as: Making a choice to create an entrepreneurial venture, current trend of technology entrepreneurship, how to start a start-up, identifying opportunities, factors driving competitive advantages, organizational structure, basic knowledge of financial statements and project report,introductory knowledge on marketing management, human resource management, & strategic management, risk analysis, legal aspect of business, how to raise fund during life-cycle of a new ventures.


Week 1  :  Definition, Innovation and entrepreneurship, Contributions of entrepreneurs to the society, risk-opportunities perspective and mitigation of risks. Corporate entrepreneurship or intrapreneurship.

Can entrepreneurship be taught / learnt? The story of Dhirubhai Ambani and Sophia Amoruso.
Profile of an entrepreneur (entrepreneurial qualities).
How to start a new venture, Decision to start a startup, 
Myths and realities.
How risky is entrepreneurship, can the risks be mitigated? 

Week 2  :   Opportunity Identification (pain point), factors determining competitive advantage (community development, continuously innovate and remain ahead of others),
Market segment, market structure, blue ocean strategy,
Marketing research.
Industry and Competitor Analysis (market structure, market size, growth potential),
Demand-supply analysis,
Week 3  : Value proposition

Business Model Canvas 
Developing an Effective Business Model (concluding part about scalability and repeatability).
Legal forms of business.

Week 4  :  Lean product development

Lean entrepreneurship 
Lean manufacturing
Go-to-market strategy

Week 5  :  Design Thinking, 

Design-Driven Innovation, TRIZ (Theory of Inventive Problem Solving), 
Zero-based design, Systems thinking, SPRINT

Week 6  :  What is a balance team and why is it important 

Recruiting early employees. Why entrepreneurs should be very careful about recruitment?
Writing a business plan.
Writing a business plan.

Week 7  :  Preparing financial statements, analysis of opportunities based on financials, break-even & margin of safety analysis
Week 8  :  Government incentives for entrepreneurship (1 lecture),

Incubation, acceleration.
Funding new ventures – bootstrapping, crowd sourcing, angel investors, VCs, debt financing, due diligence
Legal aspects of business (IPR, GST, Labor law)

Taught by

Prof. Manoj Kumar Mondal

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