CMI 711 Entrepreneurial Practice
- March 1, 2023
- Posted by: admin
- Category: CMI Level 7
CMI 711 Entrepreneurial Practice is a course that focuses on providing students with the practical skills and knowledge necessary to become successful entrepreneurs. This course covers a wide range of topics related to entrepreneurship, including business planning, marketing, finance, and operations management. Entrepreneurship is a vital aspect of modern-day economies, and the demand for entrepreneurs is increasing rapidly. This course aims to equip students with the essential skills and knowledge required to start and manage their businesses successfully. Through case studies, real-world examples, and practical exercises, students will gain a deep understanding of what it takes to be a successful entrepreneur in today’s competitive business world. By the end of this course, students will have developed a comprehensive understanding of the entrepreneurial process, including ideation, opportunity recognition, resource allocation, and business scaling. They will also have gained practical skills in various areas, such as developing business plans, identifying target markets, raising capital, and managing operations. Overall, CMI 711 Entrepreneurial Practice is an excellent course for anyone looking to pursue a career in entrepreneurship or start their own business.
Aims of unitEntrepreneurial practice is a complex and multifaceted concept that encompasses a variety of different endeavours. For some, it may simply involve identifying and pursuing an opportunity, while for others it may entail launching an innovative startup, inventing or reinventing a product, service or process, or developing solutions to social, cultural or environmental issues. Ultimately, at the heart of entrepreneurialism lies a particular mindset, characterized by a willingness to take calculated risks, think creatively, and adapt to changing circumstances. From an academic perspective, entrepreneurial practice can be approached from several different angles, including economics, management, sociology, and psychology. By exploring these various perspectives, leaders can gain a more comprehensive understanding of the principles of entrepreneurial practice and the different contexts in which entrepreneurship can thrive. The overarching goal of this unit is to provide leaders with the tools they need to cultivate and exercise entrepreneurial leadership. This involves developing an understanding of the key characteristics and traits that are common among successful entrepreneurs, as well as exploring the various strategies and tactics that can be employed to foster a culture of innovation and creativity within an organization. Through a combination of theoretical study and practical application, this unit aims to equip leaders with the skills and knowledge necessary to thrive in today’s dynamic and rapidly-evolving business environment.
What you’ll learnCMI 711 Entrepreneurial Practice is designed to provide students with a comprehensive understanding of the principles and practices of entrepreneurship. By the end of this course, students can expect to have gained the following knowledge and skills:
- The ability to identify and evaluate opportunities for entrepreneurial ventures, including market analysis, customer segmentation, and product/service development.
- A deep understanding of the different contexts in which entrepreneurship can thrive, including social, cultural, and environmental factors.
- Knowledge of the different types of entrepreneurship, such as social entrepreneurship, corporate entrepreneurship, and high-growth entrepreneurship.
- Practical skills in business planning, including creating a business model canvas, developing a marketing plan, and financial forecasting.
- An understanding of the funding options available to entrepreneurs, including venture capital, angel investing, and crowdfunding.
- Knowledge of the legal and regulatory considerations that must be taken into account when starting and running a business.
- An understanding of the role of entrepreneurial leadership in creating a culture of innovation and creativity within an organization.
- The ability to evaluate the performance of an entrepreneurial venture and make strategic decisions about its future.
Learning outcomeTo be a successful entrepreneur, it is essential to have a strong understanding of the strategic contexts in which entrepreneurship operates. This involves understanding the different factors that can impact the success or failure of a new venture, such as market trends, customer preferences, and regulatory environments. By understanding these strategic contexts, entrepreneurs can make informed decisions about the direction of their ventures and ensure that they are well-positioned to take advantage of new opportunities as they arise. In addition to understanding strategic contexts, it is also important to have a solid grasp of the principles of entrepreneurial practice. This includes everything from identifying and evaluating opportunities to developing business plans, securing funding, and managing day-to-day operations. Successful entrepreneurs must be able to navigate all of these areas with confidence and skill and must be willing to take calculated risks to achieve their goals. Overall, a strong understanding of both the strategic contexts and principles of entrepreneurial practice are essential for anyone looking to pursue a career in entrepreneurship. By mastering these fundamentals, entrepreneurs can position themselves for success and be well-equipped to tackle the challenges and opportunities that come their way.
How can we help?CMI Assignment Help provides invaluable assistance to students who are working on their CMI 711 Entrepreneurial Practice assignments. This service offers a range of benefits that can help students complete their assignments more efficiently and effectively, including:
- Access to expert writers: CMI Assignment Help employs a team of experienced writers who have a deep understanding of the principles and practices of entrepreneurship. These writers can provide valuable insights and guidance to students who are struggling with their assignments.
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- Deakins, D. and Freel, A. (2009). Entrepreneurship and Small Firms. 5th Edition. McGraw-Hill.
- Edralin, D.M. (2010). Human Resource Management Practices: Drivers for Stimulating Corporate Entrepreneurship in Large Companies in the Philippines. DLSU Business & Economics Review 19.2 (2010), pp. 25-41.