Foundational entrepreneurial concepts, processes, & support systems are examined including the entrepreneurial mindset, self-efficacy, and the capacity to hold multiple perspectives. The concept of entrepreneurial orientation and self-assessment provide a basis for identifying motivators and supports for developing new product and service ideas.

This session introduces some of the options, methods, and strategies for recognizing new product or service ideas and opportunities. Market gap analysis is combined with a personal skills and resource inventory approach to identifying customer problems and unmet needs. Learners will propose their initial ideas for a new product offering to be used in course projects.

This session introduces key concepts, tools, and methods for developing new product ideas and opportunities. Design thinking is introduced, and the internal and external dimensions of the entrepreneurial landscape are reviewed. The meaning and importance of establishing a sustainable competitive advantage is presented. Learners will review, revise, and refine their initial ideas for a new product offering and describe a customer value proposition.

The concepts of entrepreneurial vision and mission are introduced and a method for their design is presented. The relationship between vision, mission, and business strategy is explained and an overview a basic business model is provided. Learners are guided to construct vision, mission, and strategy statements for their new venture.