BME 3505 Entrepreneurship and Small Business Management

Course Unit Code BME 3505
Course Unit Title Entrepreneurship and Small Business Management
Number of Credits 5
Academic Year 3

With the turbulent nature of contemporary environment, the spirit of entrepreneurship has been identified as a major force that enhances the economic growth, prosperity and standard of living of individuals and benefits the society at large. Hence, this course unit aims to provide the guidance to the students with the knowledge on the process of creating a new venture and how to become successful as an entrepreneur while providing understanding on the theories, issues and trends in the field of entrepreneurship

  • To provide knowledge on the process of creating an entrepreneurial venture
  • To provide knowledge on managing the growth of a business venture
  • To develop entrepreneurial skills of students

To provide understanding on family business, women entrepreneurship, small and medium scale enterprises and contemporary challenges in entrepreneurship

  • Understand the basic concepts and theories of entrepreneurship
  • Understand the entrepreneurial mind set
  • Recognize the strategies for successful entrepreneurial venture creation, growth and exit
  • Understand the ways of developing a successful business plan and develop own skills in development of a business plan
  • Understand the way of managing a business ethically

Understand and evaluate the small and medium enterprises sector of Sri Lanka

Main Topics Sub Topics No. of Hours
1.      Entrepreneur and entrepreneurship


1.1       Definitions and concepts

1.2       Characteristics of an entrepreneur

1.3       Role of an entrepreneur

1.4       The myths of entrepreneurship

1.5       The entrepreneurial mind set

1.6      Corporate entrepreneurship

1.7      Social entrepreneurship

2.      The entrepreneurial evolution  2.1      Emergence of entrepreneurial class

2.2      Theories of entrepreneurship

2.3      Approaches to entrepreneurship

2.4      Models on entrepreneurship

3.      Developing creativity and innovation for entrepreneurship


3.1      The role of creativity

3.2      Barriers to creativity

3.3      Enhancing entrepreneurial creativity

3.4      Innovation and the entrepreneur

3.5      The innovation process

4.      The entrepreneurial venture plan 4.1       Opportunity analysis

4.2       Environmental analysis

4.3       Forms of business ownership

4.4       The route to market entry

4.5      Financing the business venture

5.      Building the business plan 5.1      Pitfalls in planning

5.2      Elements of a business plan

5.3      Benefits of a business plan

6.      Managing business growth 6.1      Strategic planning and entrepreneurship

6.2      Venture development stages

6.3      Crafting strategies for managing growth

6.4      Internationalization of a business venture

7.      Harvesting the entrepreneurial venture 7.1      Management succession challenges

7.2      Key factors in succession

7.3      Developing a succession strategy

8.      Ethics and entrepreneurship


8.1              The ethical aspect of business venture

8.2       Defining business ethics

8.3       Ethics and business functions

8.4       The social responsibility challenge

8.5      Ethical leadership

9.      Contemporary challenges in entrepreneurship 9.1       E-commerce and entrepreneur

9.2              Emerging entrepreneurial business venture

9.3       Managing entrepreneurial identity

9.4       Entrepreneurial education

9.5       Any other contemporary challenge

10.  Women entrepreneurship and managing family business 10.1Women entrepreneur

10.2         Obstacles to women entrepreneurship

10.3         Encouraging women entrepreneurship

10.4          Managing the growth of a family business

10.5         Succession planning for family business

10.6Other issues of family business

11.Small and medium scale enterprises 11.1Introduction to SME’s

11.2Limitations faced by SME’s

11.3Reasons for SME failure

11.4          Government role in developing SME’s

Mode of Evaluation Final examination will be conducted
  • Kuratko, D.F., Hodgetts, R.M. (2007), Entrepreneurship in the New Millennium, Cengage Learning.
  • Zimmerer, T.W., Scarborough, N.M., Wilson, D. (2011), Essentials of Entrepreneurship and Small Business Management (5th), Pearson Education Inc.

Baron, R.A., Shane S.A., Entrepreneurship a Process Perspective (2nd ed.), Cengage Learning