EXPORT-ORIENTED MANAGEMENT - IMC Fachhochschule Krems

� prepare financial statements necessary for a business plan and to assess included
risks.
� present and defend a business plan.
Prerequisites / Level
None
Course Description
Entrepreneurship is course designed to understand the meaning of entrepreneurship and
comprehension of starting-up a business. This course shall provide learners with the
fundamental entrepreneurial competence in order to start a small enterprise.
Furthermore it provides students the experiencing skills needed to effectively organize,
develop, create, and manage their own business.
This course is based upon the Entrepreneurial Learning which includes business,
management, and entrepreneurship; communication and interpersonal skills.
Emphasis is placed on the functions of marketing: distribution, financing, marketing
information management, pricing, product/service management, promotion, selling,
sources for financing; investments; different types of costs associated with opening and
running a business; elements of financials of a business plan such as balance sheet,
income statement, three year forecasted income statement, repayment plan; cash flow
calculations; and risk analysis.
Additional topics to be addressed slightly are assessment of personal skills, the
understanding of small businesses and its place in our global economy, interpersonal
skills, developing and assessing business ideas, and the role quality and service play in
business. Students have to develop a written business plan for a business of their choice.
Literature
Acs, Zoltan J., and David B. Audretsch. Handbook of Entrepreneurship Research: An
Interdisciplinary Survey and Introduction. New York: Springer. 2003.
Botha, Melodi; Fairer-Wessels, Felicite; Lubbe, Berendien. Tourism Entrepreneurs, Juta &
Co Ltd, 2006.
Shane, Scott. A General Theory of Entrepreneurship: The Individual-Opportunity Nexus.
Cheltenham, U.K.: Edward Elgar. 2003
Sharma, K.. Tourism and Development, Neu Dehli, 2005
Smit, L. Tourism Entrepreneurship: Start Your Own Tourism Business, Entrepreneurship,
2001, Cape Town.
Smit, L., T.C. Vivian. Tourism Entrepreneurship and Business Management, CLS
Publishers, 2001.
Assessment
� The business idea,
� The written business plan,
� The necessary spreadsheets for budgeting and calculations,
� The presentation of the business idea in front of a real jury.
Teaching Methods
Case studies and discussions
Individual and group practices
Own field research
Written paper
FHR-5-0008_Vers.03_Rev.00_2012 252