This course focuses on the process of starting, financing, and managing a business. It also focuses on the management of existing enterprises. The course includes topics such Market Analysis, Product Design Specification (PDS), Proposal preparations, Strategic Management, Manufacturing Facilities Design, and Business Plan.

 

1. Create awareness of the importance of Entrepreneurship for economic development of the nation.

2. Promote the development of Technology Based Entrepreneurship among engineering and business students

3. Foster creativity in the students.

4. Develop a commercially viable product or service concept

5. Learn the processes, analytical frameworks, and best practices in product development

6. Align the market needs and trends with your product attributes

7. Understand the roles of multi-disciplinary team of managers, scientists, and engineers

8. Understand the interrelationships between product or service developments and business success

9. Learn to communicate technical ideas to non-technical people and to communicate business concepts to a multidisciplinary group of professionals.

10. Learn and apply the process of project planning

The students completing this course should be able to:

Work effectively in a team. Prepare a proposal for a new product development. Understand various processes to identify opportunities in a market environment. Understand and apply a process to foster creativity. Develop a product prototype. Communicate effectively, orally, and in writing proposals to persuade the audience. You will have acquired problem-solving skills Communicatie professionally

 

Duration

The course requires particpants attend 10 lectures each two hours in duration. A flexible delivery format is offered to better accommodate the schedule of senior management. Class size is capped at 30 participants to optimise the learning and project team environment.

Course Requirements

1. Course Attendance

2. Satisfactory individual team evaluations.

3. Preparation of a proposal.

4. Development of a prototype

5. Final written and oral report.

Course Content

The course lectures will be structured around the following product development process:

Lecturer 1 Introduction to Commercialisation and Entrepreneurship
Particpants are given a holistic understanding of the product commercialisation processes.
We will explore the various challenges or obstacles in taking an idea or concept through to market and discuss the key factors that make or break new products or services.

Lecture 2 Generating Ideas and Product Creation
What makes a good idea taking into account preliminary factors such as market assessments, its technical feasibility, knowing when not to proceed and leadership needed in project and team management.

Lecture 3 and 4: Detail Investigation: The Proposal
At this stage of the process of commercialisation, the lecture will cover aspects such as: Market Responsiveness; Competitive Analysis; Concept testing; Legal, Patents and Regulatory Assessments; Financial Analysis and Project Planning. Particpants will also be introduced to: Proposal Preparation; Report Writing; and Proposal Presentation

Lecture 5 and 6 Product Development Process: Strategic Planning and Finance
Mapping the various processes in developing the new product will include the following actvivities: Prototyping and Optimising Design Requirements; Developing Alliances or Strategic Partners; Market Planning; New Product Pricing; Retail Audits.

Lecture 7: Venture Capital and Investments
The pros and conns of venture capital will be discussed with respect to what investors want and what parameters do VC's use to makes decisions. This lecture will also explain the differences between Angel Investors and Venture Capitalists.

Lecture 8: Testing and Validation
New product or service verification and Quality Assurance effectiveness. The validation process and the involvement of independent regulatory audits.

Lecture 9 Production Operations
Going from lab to pilot production and full production

Lecture 10 Marketing Campaign and Branding
Advertising and marketing strategies
Managing the Product Portfolio

Course Teaching Strategy
This course is team oriented in its approach to teaching. Teams will learn from doing and will work together throughout the quarter on a high-technology product development or service project. The teams will present interim results and deliver final presentations at the end of the quarter. Teams will follow the product development process as described through the lectures and guest speakers. The lectures are designed to supplement the process, but cannot provide all the answers. Teams are made up of both engineering and business graduate students.

Assessment

Final Written Proposal ............................... 50

Oral Presentation ..................................... 25

Assignments.............................................25

Total .....................................................100%

General Course Requirements
Class attendance and participation is important, and will be graded. Because much of this course is based on case and business plan analyses, business plan development and critique, class discussion and lectures, your attendance and participation are important to the learning process.

Any participant who wishes to have additional content covered may do so individually with the instructors who will make available any resources they can or can acquire in order to aid the you in meeting individual needs.