The Module BEC414 (Entrepreneurship, Theory and Practice) deals with the realities of entrepreneurship. The purpose of this module is to encourage students to think and act more entrepreneurially in order to create opportunities and take action in uncertain environments. Specifically, the course objectives are to:

• Explain the global rise and diversity of entrepreneurship and its impact, the importance of action and practice in entrepreneurship, and the myths associated with entrepreneurship.
• Describe the most important skills to the practice of entrepreneurship, how entrepreneurship is more of a method than a process, and the concept of deliberate practice.
• Outline the effectiveness of mind-set in entrepreneurship and explain how to develop the habits of self-leadership, creativity, and improvisation.
• Explore the pathways toward opportunity recognition, opportunity identification, and idea generation.
• Describe the importance of design thinking in understanding customers and their needs and illustrate the key parts of the design thinking process and their relevance to entrepreneurs.
• Identify the steps of scientific experimentation and how they apply to entrepreneurs, demonstrate, how to test hypotheses, and explore the power of storyboarding as a form of prototyping.
• Examine the core areas of a business model, explore the importance of customer value propositions (CVPs), and illustrate the components of the business model canvas.
• Explain TRIM (Team, Resources, Ideas, Market) and its importance to entrepreneurial planning, the different types of plans used by entrepreneurs, and provide advice for writing business plans.