GOVERNMENT COLLEGE UNIVERSITY

FAISALABAD
FACULTY OF ECONOMICS & MANAGEMENT
SCIENCES
LYALLPUR BUSINESS SCHOOL

Course Specifications

Entrepreneurship
MGT-601

Fall 2024-2025
http://www.gcuf.edu.pk/
 COURSE SPECIFICATIONS

Basic Information
Course Title: ENTREPRENEURSHIP
Course Code: MGT-601
Course credits/week: Theory: 03 Lab: Nil Total: 03
Pre-requisite(s):
Co-requisite(s):
Program(s) on which the course is given: BBA 7th Semester
Is the course major or minor element of the Major: Minor:
program:
Department offering the program: Lyallpur Business School
Department offering the course: Management Cluster
Academic year/level: 4
Overall Aims of the Course

Course Description:
Welcome to Entrepreneurship! The paper is intended to provide students with knowledge
of entrepreneurship and the vital role played by entrepreneurs in the global economy. To achieve
this, this course focuses on the creation of new ventures, the skills necessary for success in an
entrepreneurial venture, and factors associated with new venture success. Entrepreneurship is
interdisciplinary so this paper provides students with the opportunity to draw together elements of
other papers such as finance, economics, management, marketing, production and so forth,
showing how these must fit together to create a whole organization, rather than viewing these as a
series of unrelated components.
This paper also mixes theory with practice. Students will be challenged to apply principles,
concepts and frameworks to real world situations, particularly on assignments including the
business plan and on exams. This paper will help students determine if they want to start their
own ventures or if they prefer to operate as corporate entrepreneurs working within an existing
organization. Companies increasingly want and need employees who can identify problems and
opportunities, exercise initiative and develop creative solutions, and build support while
implementing their ideas. The concepts and skills emphasized in this paper should be useful
whether starting a new business or innovating within an existing organization
Course Objectives:
After completing this course, the participants should be able to:
1. Develop an idea for a new venture
2. Research its potential and understand the risks associated
3. Undertake marketing, positioning, and customer development
4. Prepare an analysis of the financial requirements and build a financial strategy for the new
venture, including incremental appreciation of the equity base;
5. Identify and prepare legal documents, IP policy, contracts, etc. and
 6. Develop a comprehensive business plan for their venture;
Course Outcomes:
Upon the completion of this course students will achieve basic competence in:

 Understanding the concepts of entrepreneurship, innovation, intrapreneurship and small

business management
 Be familiar with a variety of behavioral and personality issues in new venture creation.
 Thinking and design thinking to develop new venture ideas
 How to use the business model canvas to operationalize new venture ideas how to evaluate
growth opportunities
 How to write a business plan
Assignment requirements: This course will involve the following work and assignments:
Team Project: preparation and presentation of the business proposal using available current
technology.
Class Activities: Along with Reading and writing assignments, Entrepreneurs’ motivational stories
will be shared and discussed in the class in every week.

Program Learning Outcomes (PLOs):

On completion of program, the student will be able to:
1. PLO1: Demonstrate Effective Leadership professionalism: To articulate a vision for
inclusive business practices that integrates indigenous knowledge with contemporary
approaches. Moreover, they could demonstrate effective communication and collaboration
skills to lead diverse teams towards achieving shared goals.
2. PLO2: Application of Managerial Skills: To solve business issues while applying
technical knowledge with understanding of business environment and exploit business
opportunities.
3. PLO3: Analysis of Business Practices: To evaluate the effectiveness of different business
models, considering indigenous knowledge and contemporary practices.
4. PLO4: Contribute to Societal Development: To develop and implement action plans that
leverage graduates’ skills and knowledge to address local community challenges for
collective growth.
5. PLO5: Navigate the Local Business Landscape: To identify and analyze key
trends/opportunities and challenges of local business environment.

Class Learning Outcomes (CLOs):

On completion of this course, the student will be able to:
CLO 1: Students will be able to generate and articulate innovative ideas for new ventures
by applying principles of entrepreneurship and creativity (REF: PLO2).
CLO 2: Students will demonstrate the ability to conduct comprehensive market research,
assess the potential of new ventures, and understand associated risks (REF: PLO5).
CLO 3: Students will develop skills in creating effective marketing strategies, positioning,
and customer development plans for new ventures. (REF: PLO2)
 CLO 4: Students will learn to analyze the financial requirements of a new venture, build a
financial strategy, and understand equity appreciation principles. (REF: PLO2)
CLO 5: Students will gain proficiency in identifying and preparing necessary legal
documents, including intellectual property policies and contracts relevant to new ventures.
(REF: PLO2)
CLO 6: Students will be able to develop a comprehensive business plan that integrates all
aspects of new venture creation, including idea generation, market analysis, financial
planning, and operational strategy (REF: PLO3).
CLO 7: Students will achieve basic competence in understanding and applying key
concepts of entrepreneurship, innovation, intrapreneurship, and small business management
in both new and existing organizational contexts. (REF: PLO1)
CLO 8: Students will learn to use the Business Model Canvas as a tool to operationalize
and refine new venture ideas, facilitating the evaluation of growth opportunities. (REF:
PLO3)

Course Skill Identification:

 Ability to generate innovative ideas
 Proficiency in conducting market research, and evaluating business opportunities.
 Demonstrating effective leadership, communication, and collaboration skills.
 Pitching venture ideas, and effectively communicating business concepts to stakeholders.
Weekly Course Objectives
WEEK TOPIC COURSE CONTENTS Status Remarks

Entrepreneurship
 What is Entrepreneurship?
the need of time
 Economic and personal Benefits of entrepreneurship
 Why Study Entrepreneurship before startups
1
 Discuss compelling reasons to Start a Business
Visit to Library
Chapter 1: Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane
2 Ireland, 4th Edition (Page 3-26)
Introduction to  Explain entrepreneurship and discuss its importance.
Entrepreneurship  Discuss three main reasons people decide to become entrepreneurs.
 Identify four main characteristics of successful entrepreneurs.
 Explain the five common myths regarding entrepreneurship.
 Explain how entrepreneurial firms differ from salary-substitute and
lifestyle firms.
 Discuss the changing demographics of entrepreneurs
 Discuss the impact of entrepreneurial firms on economies and
societies.
 Identify ways in which large firms benefit from the presence of
smaller entrepreneurial firms.
 Explain the entrepreneurial process.
 Universities should be preparing students for the gig economy. Harvard Business Review, October 03, 2019. HBSP
& Handouts provided by the class teacher

The  Discuss external and internal environment of entrepreneurship,

Environment,  Explain the entrepreneurship during times of crisis.
3 Economy and  Discuss the Gig economy and how Universities should be preparing
Entrepreneurship students for the gig economy.
 Discussing Time 100 Most influential Companies.
Class Activity: Students will discuss the biography and business of
the Top 5 entrepreneurs of Pakistan.

4 Entrepreneurship Chapter 2: Entrepreneurship, new venture creation by David H. Holt 4th Edition Pearson, 2018 (Page 31-63)
and innovation
 Creativity as a prerequisite to innovation
 Innovation and entrepreneurship
 Opportunity through change
 Windows and corridors
Class Activity: The class session will cover the top 10 entrepreneurs
across the US, China, and the EU.
Assignment: Interview of a Local Entrepreneurs (Open and Close
ended question will be asked)
Recognizing Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane Ireland, 4th
Opportunities and Edition (Page 39-61)
Generating Ideas
5&6  Explain why it’s important to start a new firm when its “window
of opportunity” is open.
 Explain the difference between an opportunity and an idea.
 Describe the three general approaches entrepreneurs use to
identify opportunities.
 Identify the four environmental trends that are most instrumental
 in creating business opportunities.
 List the personal characteristics that make some people better at
recognizing business opportunities than others.
 Identify the five steps in the creative process.
 Describe the purpose of brainstorming and its use as an idea
generator.
 Describe how to use library and Internet research to generate
new business ideas.
 Explain the purpose of maintaining an idea bank.
 Describe three steps for protecting ideas from being lost or
stolen.
Class Activity: Feng ZhuMarco Iansiti: Why Some Platforms Thrive
and Others Don’t. Harvard Business Review, January– February 2019
Issue. HBSP
Quiz
Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane Ireland, 4th
Edition (Page 77-95) & (Page 111-125)
 Explain what a feasibility analysis is and why it’s important.
Feasibility  Discuss the proper time to complete a feasibility analysis when
7&8 Analysis developing an entrepreneurial venture.
& Writing a  Describe the purpose of a product/service feasibility analysis and
Business the two primary issues that a proposed business should consider in
Plan this area.
 Explain a concept statement and its contents.
 Describe the purpose of industry/market feasibility analysis and
the two primary issues to consider in this area.
 Discuss the characteristics of an attractive industry.
 Describe the purpose of organizational feasibility analysis and list
the two primary issues to consider in this area.
 Explain the importance of financial feasibility analysis and list the
most critical issues to consider in this area.
  Explain the purpose of a business plan.
 Describe the two primary reasons for writing a business plan.
 Describe who reads a business plan and what they’re looking for.
 Explain the difference between a summary business plan, a full
business plan, and an operational business plan.
 Explain why the executive summary may be the most important
section of a business plan.
 Explain why it’s important to include separate sections on a firm’s
industry and its target market in a business plan.
 Explain why the “Management Team and Company Structure”
section of a business plan is particularly important.
 Describe the purposes of a “sources and uses of funds”
statement and an “assumptions sheet.”
Visit to BIC GCUF: BIC will arrange a session on Business
Proposal.
Group Assignment: Students are tasked with creating a feasible
business proposal to be presented at the semester's conclusion.
Mid-Term Examination
Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane Ireland, 4th
Edition (Page 147-167)

Industry  Explain the purpose of an industry analysis.

and  Identify the five competitive forces that determine industry
10 Competitor profitability.
Analysis  Explain the role of “barriers to entry” in creating disincentives for
firms to enter an industry.
 Identify the nontraditional barriers to entry that are especially
associated with entrepreneurial firms.
 List the four industry-related questions to ask before pursuing the
idea for a firm.
 Identify the five primary industry types and the opportunities they
 offer.
 Explain the purpose of a competitor analysis.
 Identify the three groups of competitors a new firm will face.
 Describe ways a firm can ethically obtain information about its
competitors.
 Describe the reasons for completing a competitive analysis grid.
Class Activity
Entrepreneurship : theory, process, practice by by Donald F. Kuratko and Howard H. Frederick (Page
144-150)
Roger L. Martin and Sally R. Osberg: How Social Entrepreneurs Make Change Happen. Harvard
Business Review, October 14, 2015. HBSP.
Handout on Sanic Entrepreneurship will be provided by the class teacher.

 Discuss & Explain Sanic entrepreneurship.

Sanic & Social  Explain Social entrepreneurship,
11 Entrepreneurship  Describe Ecopreneurs
 How Social Entrepreneurs Make Change Happen.
Quiz/ Visit to NIC Faisalabad

(Page 213-228 and page 393-418) (Entrepreneurship Successfully Launching New Venture by Bruce R Barringer
and R Duane Ireland, 4th Edition)

 Describe how to create a strong ethical culture in an

Legal Foundation entrepreneurial venture.
12 and Regulatory  Explain the importance of “leading by example” in terms of
Challenges establishing a strong ethical culture in a firm.
 Explain the importance of having a code of conduct and an ethics
training program.
 Explain the criteria important to selecting an attorney for a new
firm.
 Discuss the importance of a founders’ agreement.
  Provide several suggestions for how entrepreneurial firms can
avoid litigation.
 Provide an overview of the business licenses and business permits
that a start-up must obtain before it starts conducting business.
 Discuss the four major forms of intellectual property: patents,
trademarks, copyrights, and trade secrets
 Discuss the rules for Patents in Pakistan
 Explain the Basic Requirement of Patents
 Describe the six-step process for obtaining a patent.
 Identify the four types of trademarks.
 Identify the types of material that are eligible for copyright
protection.
 Discuss the legal environment that facilitates trade secret
protection.
Class Activity: Virtual exploration of the Patent Cooperation Treaty (PCT) and
the Intellectual Property Organization of Pakistan.

(Page 319-342) (Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane
Ireland, 4th Edition)

 Explain why most entrepreneurial ventures need to raise money  

Getting during their early life.
Financing or  Identify the three sources of personal financing available to
13 Funding entrepreneurs.
 Provide examples of how entrepreneurs bootstrap to raise money
or cut costs.
 Identify the three steps involved in properly preparing to raise
debt or equity financing.
 Discuss the difference between equity funding and debt financing.
 Explain the role of an elevator speech in attracting financing for
an entrepreneurial venture.
  Describe the difference between a business angel and a venture
capitalist.
 Explain why an initial public offering (IPO) is an important
milestone in an entrepreneurial venture.
 Explain the advantages of leasing for an entrepreneurial venture.
 Why Successful Crowdfunding Requires a Social-Media
Mind-Set. Harvard Business Review, December 03, 2012.
HBSP
Students’ Activity: Students need to visit a bank to find out the
necessary steps for obtaining a bank loan to launch a business.

(Page 495-520) (Entrepreneurship Successfully Launching New Venture by Bruce R Barringer and R Duane
Ireland, 4th Edition)
 Explain franchising and how it differs from other forms of
business ownership.
 Describe the differences between a product and trademark
14 Franchising franchise and a business format franchise.
 Explain the differences among an individual franchise agreement,
an area franchise agreement, and a master franchise agreement.
 Describe the advantages of establishing a franchise system as a
means of firm growth.
 Identify the rules of thumb for determining when franchising is an
appropriate form of growth for a particular business.
 Discuss the factors to consider in determining if owning a
franchise is a good fit for a particular person.
 Identify the costs associated with buying a franchise.
  Discuss the advantages and disadvantages of buying a franchise.
Handouts and Notes will be provided by the class teacher

15 Entrepreneurship  Discuss the entrepreneurship culture in Pakistan

Culture of  How HEC and Govt. initiative are helping in boosting
Pakistan entrepreneurship
 Discuss various public sector BIC
 Discuss the role of private incubators
 Women entrepreneurship development in Pakistan
 Discuss the various national and international business Plan
competition.
16 Class Discussion Final Project Submission & Presentations

END TERM EXAMINATION

 Make-up Class, if needed / Revision Session

Required Learning Source

 Bruce R Barringer and R Duane Ireland,

Entrepreneurship Successfully Launching New Venture,
Text Book(s): 4th Edition. Pearson.
(Title, Author, Edition, Publisher)  Entrepreneurship, new venture creation by David H. Holt
4th Edition. Pearson, 2018
 Entrepreneurship – Theory Process Practice by
Donald F. Kuratko and Howard H. Frederick, Asia
Pacific Edition, Thomson.
Additional material provided by the class teacher
1. Robert D. Hisrich, Michael P. Peters, And Dean A.
Shepherd, Entrepreneurship 10th edition
Reference Book(s):
(Title, Author, Edition, Publisher) 2. William Bygrave and Andrew Zacharakis,
Entrepreneurship, second edition
3. Entrepreneurship and Innovation: Global Insights
from 24 Leaders, Rothman Institute of
Entrepreneurship
Journals/Periodicals: Feng ZhuMarco Iansiti: Why Some Platforms Thrive and
(Title, Publisher) Others Don’t. Harvard Business Review, January– February
2019 Issue. HBSP
Roger L. Martin and Sally R. Osberg: How Social
Entrepreneurs Make Change Happen. Harvard Business
Review, October 14, 2015. HBSP
Guy Clapperton: Why Successful Crowdfunding Requires a
Social-Media Mind-Set. Harvard Business Review,
December 03, 2012. HBSP.
Diane Mulcahy. Universities should be preparing students for
the gig economy. Harvard Business Review, October 03, 2019.
HBSP
Facilities Required for Teaching and Learning
White Board
Projector – (Slides and Videos)
Book Reading
Research Articles
Zoom online (If online classes)
Pedagogies
  Oral Lecture
 Guest Lecture
 Group discussions
 Class Activities
Quiz:
No. Week Assigned Week Due
1 3 6 T surprise quiz tests will be conducted during the semester
for better preparation of the students.
2 7 15

Grading Criteria

The grading will be done as per the policy of the university

Quizzes + Assignments + Class Participation
+ Projects 20%
 Mid-semester examination 30%
End-semester examination 50%
Grading Criteria
Letter Grade Percentage Marks
A 85% or above
A- 80% to 84%
B+ 70% to 79%
B 65% to 69%
B- 60% to 64%
C+ 55% to 59%
C 50% to 54%
C- 45 % to 49%
D 40% to 44%
DRESS CODE:
Formal business attire only (Dress Trouser, Shirt, Tie, Dress Shoes) Jeans and Joggers NOT
ALLOWED.
Not sure what this dress code means? Read When Job-Hunting: Dress for Success.

Instructor Responsibilities:
In keeping with the format of this class, I see myself as your immediate supervisor. In that sense, I
plan to mentor you so that you learn how to make the best decisions possible, understand and apply
key marketing concepts, and prepare you to become productive employees upon graduation. I will
do my best to help each of you grow into the best marketer you choose to become. Thus, besides
class time -- where I will often put you on the spot -- I expect there will be many times we will
communicate outside of class, and I will do my best to help you in a timely fashion.

Student Responsibilities:
You are expected to arrive to class on time, professionally dressed, and prepared for the day. It
would be best if you were fully prepared to discuss and debate the course material assigned for that
date. You are expected to participate at all levels and offer objective praise and criticism of your
classmates’ analyses and conclusions. This course is not for the meek or timid. It would be best if
you contributed to the greater understanding of marketing and marketing management. This course
is a combination of doing (homework), thinking, and discussing.

Class Participation and Individual Conduct:

You should make every effort to attend each class meeting. In addition, it is important that you
prepare for each class by reading the relevant book chapters before the class session in which it
will be discussed. You will also be expected to participate in class discussion and complete in‐class
exercises that will be based on these reading assignments. Your participation grade will be based
on contribution and attendances (be punctual, attend classes, come prepared by doing the readings,
show initiative in the discussion). Note that students who only “show up” should not expect even
an average score. You must be present in class in order to receive credit for in‐class exercises,
quizzes, participation, etc.
Eating, sleeping, reading, texting, listening to or working on unrelated materials, sidebar
conversations, or “multi‐tasking” using a computer or other electronic device is not permitted.
Laptops (and similar devices) may be used in class for course related activities such as taking
notes. Students may bring drinks such as water.

General Expectations & Classroom Etiquettes:

In terms of performance in this class, I have very high expectations and anticipate outstanding
work from each of you. I hope for a very positive experience for us all. Keep in mind that if you do
not deliver outstanding work then you will be graded to reflect this. I ask that you contact me
directly and immediately if you ever have any questions or concerns regarding the class, any
particular assignments, or your grade(s). I am always willing to help.
I do ask that all students be respectful and courteous to other class members as well as the professor.
This includes turning off cell phones and other electronic devices before class begins and arriving to
class on time, as walking in late is disruptive to other classmates and the professor. Those who walk
in late will likely not receive attendance credit for that day.

Contact Details
Dr. Mohsin Bashir Tenured Associate Professor
Lyallpur Business School,
Faculty of Economics & Management Sciences,
Govt. College University, Faisalabad, Pakistan.
 [email protected]
Dr. Muhammad Farooq Rehan Assistant Professor
Lyallpur Business School,
Faculty of Economics & Management Sciences,
Govt. College University, Faisalabad, Pakistan
[email protected]
Mr. Qamar Ali Assistant Professor
Lyallpur Business School,
Faculty of Economics & Management
Sciences, Govt. College University,
Faisalabad, Pakistan
Dr. Yasir Tanveer Assistant Professor (OPS)
Lyallpur Business School,
Faculty of Economics & Management Sciences,
Govt. College University, Faisalabad, Pakistan
[email protected]
Course Specifications Developed By: Reviewed By:
Dr. Mohsin Bashir and
Dr. Muhammad Farooq Rehan