Theory Of Entrepreneurship
- Management Sciences
- 700 level
- 2 credit units
- 145 pages
- 14 units
This course introduces students to the theories underpinning entrepreneurship, exploring contributions from various theorists and a multidisciplinary perspective. It covers the concept, classification, and views of entrepreneurship, along with major theories such as economic, psychological, and sociological perspectives. Students will gain an understanding of entrepreneurship development in Nigeria, notable contributors, and specialized institutions, preparing them to apply theoretical knowledge to real-world business scenarios and contribute to economic growth.
About this course
- Difficulty
- Intermediate
- Study hours
- 150 hours
- Maths
- None
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of ENT703, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ENT703 · UNIT 1: CONCEPT OF ENTREPRENEURSHIP
You should use the prepared text for the course made available to you by NOUN. However, in your own interest, do not limit yourself to this study text. Make effort to read the recommended texts to broaden your horizon on the course.
What you should be able to do
- Define and classify entrepreneurship from various perspectives.
- Analyze major theories of entrepreneurship.
- Evaluate the contributions of key theorists to entrepreneurship development.
- Understand the role of entrepreneurship in Nigeria's economic development.
- Identify challenges and opportunities for entrepreneurs in Nigeria.
What it prepares you for
- Business Owner
- Business Consultant
- Entrepreneurial Manager
- Business Development Manager
- Small Business Manager
- Small and Medium Enterprises (SMEs)
- Start-up Ventures
- Consulting
- Financial Services
- Manufacturing
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2:
Unit 2: Psychological theory
Understanding the nuances of psychological traits and their direct impact on entrepreneurial success requires critical analysis and application of complex psychological concepts.
- Module 2:
Unit 4: Innovation theory
The Innovation Theory requires grasping abstract concepts of 'creative destruction' and linking them to practical business strategies, demanding a high level of analytical thinking.
A suggested way through it
13 weeks, about 40 hours in total. Yours will differ.
- Week 1Module 1:
Unit 1: Concept of Entrepreneurship · 2 hours
Define entrepreneurship from various scholars.. Discuss views of entrepreneurship.. Identify characteristics of an entrepreneur..
Unit 2: Historical background of Entrepreneurship · 2 hours
Trace the evolution of entrepreneurship from the earliest period to the Middle East.. Understand the role of go-betweens and risk-bearers..
- Week 2Module 1:
Unit 3: Classification of entrepreneurship · 3 hours
Classify entrepreneurs based on Clarence Danhof's and Arthur H. Cole's classifications.. Differentiate between innovative, imitative, fabian, and drone entrepreneurs..
- Week 3Module 2:
Unit 1: Economic theory of entrepreneurship · 3 hours
Understand the economic theory of entrepreneurship and its features.. Describe the Classical Theory and Neo-Classical Theory..
- Week 4Module 2:
Unit 2: Psychological theory · 3 hours
Examine the Psychological Theory, focusing on personality traits and the need for achievement.. Analyze McClelland's need for achievement model..
- Week 5Module 2:
Unit 3: Sociological theory · 3 hours
Explore the Sociological Theory, including the social marginality model and ethnicity.. Discuss the inter-generational inheritance of enterprise culture..
- Week 6Module 2:
Unit 4: Innovation theory · 3 hours
Study the Innovation Theory of Entrepreneurship.. Understand the functions of innovation and its role in economic development..
- Week 7Module 2:
Unit 5: Other theories of entrepreneurship · 3 hours
Explore other theories of entrepreneurship, including Max Weber's theory and Exposure Theory.. Discuss Ronald Burt's Theory of Entrepreneurship..
- Week 8Module 3:
Unit 1: Contributors to the economic theory of entrepreneurship · 3 hours
Analyze the contributions of early/classical contributors to the economic school of thought.. Understand the Austrian contributors..
- Week 9Module 3:
Unit 2: Contributors to the psychological theory · 3 hours
Study the contributions of theorists to the psychological school of entrepreneurship.. Examine the need for achievement and social learning theories..
- Week 10Module 3:
Unit 3: Contributors to the sociological theory · 3 hours
Discuss the contributions to the sociological and innovation schools of entrepreneurship.. Understand the roles of Max Weber and Joseph Schumpeter..
- Week 11Module 4:
Unit 1: Role entrepreneurship to economic development in Nigeria · 3 hours
Examine the development of entrepreneurship in Nigeria.. Understand the challenges faced by entrepreneurs in Nigeria..
- Week 12Module 4:
Unit 2: Contribution of successful Nigeria entrepreneurs to entrepreneurship development · 3 hours
Study the contributions of successful Nigerian entrepreneurs to entrepreneurship development.. Analyze the impact of Aliko Dangote and Mike Adenuga..
- Week 13Module 4:
Unit 3: Specialized institutions for entrepreneurship development · 3 hours
Explore specialized institutions for entrepreneurship development in Nigeria.. Understand the roles of NIDB, NBCI, NERFUND, NEXIM, NDE, and BOA..
Preparing for the exam
- Create a timeline of key events and contributions from theorists discussed in Units 1-5 of Modules 2 and 3.
- Develop concept maps linking the economic, psychological, and sociological theories to understand their interrelationships.
- Practice applying the theories to real-world case studies of Nigerian entrepreneurs from Module 4, Units 1 and 2.
- Focus on understanding the functions of specialized institutions (Module 4, Unit 3) and their impact on entrepreneurship development.
- Review all Tutor-Marked Assignments (TMAs) and identify areas needing further clarification.
Questions students ask about this course
What is ENT703 about?
This course introduces students to the theories underpinning entrepreneurship, exploring contributions from various theorists and a multidisciplinary perspective. It covers the concept, classification, and views of entrepreneurship, along with major theories such as economic, psychological, and sociological perspectives. Students will gain an understanding of entrepreneurship development in Nigeria, notable contributors, and specialized institutions, preparing them to apply theoretical knowledge to real-world business scenarios and contribute to economic growth.
How many units does ENT703 have?
ENT703, Theory Of Entrepreneurship, has 14 units across 4 modules, over 145 pages of course material. You can read it one unit at a time.
How many credit units is ENT703?
ENT703 carries 2 credit units, at 700 level in Management Sciences.
Is ENT703 hard?
ENT703 is rated intermediate level, with no mathematical content. It is mostly theoretical and case study work.
How long does ENT703 take to study?
About 150 hours of study, spread across its 14 units.
How is ENT703 assessed?
ENT703 is assessed by assignments, tutor marked assessments and final examination.
What can I do with ENT703?
Business Owner, Business Consultant, Entrepreneurial Manager, Business Development Manager and Small Business Manager.