Business Opportunity Scouting and Evaluation
- Management Sciences
- 300 level
- 2 credit units
- 72 pages
- 15 units
This course introduces students to the essential aspects of business opportunity scouting and evaluation. It explores the sources of business opportunities, differentiating between ideas and viable opportunities. Students will learn strategies for scanning and evaluating opportunities, understanding associated challenges, and developing innovative business ideas. The course covers key areas such as entrepreneurial skills, SWOT analysis, business management techniques, and creative entrepreneurship, equipping students with the knowledge to identify and manage successful business ventures.
About this course
- Difficulty
- Intermediate
- Study hours
- 40 hours
- Maths
- Basic
- Content
- Theoretical
- Practical work
- No
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of ENT305, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ENT305 · UNIT 1: THE CONCEPT OF BUSINESS
Admittedly, the main focus is on the Agro-business but the concept of business shows that the unit is operated in a commercial way. After discussing business, then it becomes easier to discuss agribusiness.
What you should be able to do
- Understand the concept of business and its various types
- Identify and evaluate business opportunities
- Apply SWOT analysis to assess business ventures
- Develop effective business plans
- Understand entrepreneurial skills and management techniques
- Apply creative and social entrepreneurship principles
What it prepares you for
- Business Development Manager
- Entrepreneur
- Small Business Consultant
- Project Manager
- Business Analyst
- Retail
- Manufacturing
- Technology
- Healthcare
- Consulting
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2:
Unit 2: Evaluation, Steps And Guideline Of Business Opportunities
Requires understanding of various financial components and market dynamics which can be challenging for beginners.
- Module 3:
Unit 2: SWOT Analysis
Requires critical thinking to assess internal and external factors affecting a business, demanding a comprehensive understanding of market dynamics.
A suggested way through it
13 weeks, about 41 hours in total. Yours will differ.
- Week 1Module 1:
Unit 1: The Concept of Business · 2 hours
Define business and its types. Identify the obligations of business to customers, workers, management, competitors, investors, and the public.
Unit 2: Characteristics and Business Goals of Business Enterprises · 2 hours
Explain the characteristics of business. Discuss the goals of business including profitability, efficiency, and growth.
- Week 2Module 1:
Unit 3: Need For Small Business Enterprises · 2 hours
Explain the importance of small business enterprises. Discuss the problems faced by small business enterprises such as inadequacy of finance and poor managerial skills.
Unit 4: A Concept of Innovative Business Ideas And Business Opportunities · 2 hours
Define an idea and an opportunity. Discuss the means to discover business ideas.
- Week 3Module 1:
Unit 5: Difference Between Business Ideas and Business Opportunities · 3 hours
Differentiate between business ideas and business opportunities. Explain how to turn a business idea into an opportunity.
- Week 4Module 2:
Unit 1: Identification of Business Opportunity · 3 hours
Identify sources of business opportunities. Discuss how prospective entrepreneurs can get ideas for establishing their enterprises.
- Week 5Module 2:
Unit 2: Evaluation, Steps And Guideline Of Business Opportunities · 3 hours
Describe the steps to evaluating business opportunities. Illustrate the guidelines for evaluating business opportunities.
- Week 6Module 2:
Unit 3: Types of Business Opportunities for Entrepreneurs · 3 hours
Identify types of business opportunities for entrepreneurs. Illustrate services in different sectors that could be ventured into.
- Week 7Module 2:
Unit 4: Business Plan · 3 hours
Define business plan and list its components. Describe how to prepare, plan, define, and implement a business idea.
- Week 8Module 2:
Unit 5: Creative Entrepreneurship · 3 hours
Define creative entrepreneurship and social entrepreneurship. Explain how to be a social entrepreneur.
- Week 9Module 3:
Unit 1: Entrepreneurial Skills · 3 hours
Identify types of entrepreneurial skills. List basic desirable skills such as accounting, marketing, and management skills.
- Week 10Module 3:
Unit 2: SWOT Analysis · 3 hours
Define SWOT analysis. Evaluate strengths, weaknesses, opportunities, and threats for a business.
- Week 11Module 3:
Unit 3: Problems of Entrepreneur · 3 hours
Identify major problems of entrepreneurs. Differentiate between internal and external problems.
- Week 12Module 3:
Unit 4: Business Management Techniques · 3 hours
Identify business management techniques that can minimize problems. Discuss techniques such as Management by Objective and Total Quality Management.
- Week 13Module 3:
Unit 5: Management Concepts · 3 hours
Identify management concepts. Discuss concepts such as Holistic Management and Kaizen Management.
Preparing for the exam
- Review all tutor-marked assignments and feedback
- Create concept maps linking business concepts and opportunities
- Practice SWOT analysis for different business scenarios
- Study business plan components and examples
- Focus on understanding entrepreneurial skills and management techniques
Questions students ask about this course
What is ENT305 about?
This course introduces students to the essential aspects of business opportunity scouting and evaluation. It explores the sources of business opportunities, differentiating between ideas and viable opportunities. Students will learn strategies for scanning and evaluating opportunities, understanding associated challenges, and developing innovative business ideas. The course covers key areas such as entrepreneurial skills, SWOT analysis, business management techniques, and creative entrepreneurship, equipping students with the knowledge to identify and manage successful business ventures.
How many units does ENT305 have?
ENT305, Business Opportunity Scouting and Evaluation, has 15 units across 3 modules, over 72 pages of course material. You can read it one unit at a time.
How many credit units is ENT305?
ENT305 carries 2 credit units, at 300 level in Management Sciences.
Is ENT305 hard?
ENT305 is rated intermediate level, with basic mathematical content. It is mostly theoretical work.
How long does ENT305 take to study?
About 40 hours of study, spread across its 15 units.
How is ENT305 assessed?
ENT305 is assessed by assignments, tutor marked assessments and final examination.
What can I do with ENT305?
Business Development Manager, Entrepreneur, Small Business Consultant, Project Manager and Business Analyst.