Essay about Entrepreneurship and Business Plan

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August 2014

ENTREPRENEURSHIP AND BUSINESS FOR ENGINEERS
Course: APS1088F Fall 2014
Main-Instructor: Professor Steven Treiber meetings by appointment only in WB257, tel: 416725-1774 or by e-mail: "Steve Treiber" . See his Bio at the end of this document. TA is Mehdi Nouraei, mehdi.nouraei@utoronto.ca.
Course Coordinator: Professor Joseph C. Paradi - telephone: 416-978-6924 ext. 1, or e-mail paradi@mie.utoronto.ca. See his Bio at the end of this document.
Notes: This course is very different from any others offered in Engineering, or for that matter, anywhere else in the University. There are 5 such courses given each year at the undergraduate level, one each in CHE, CIV, ECE, MIE and MSE. The Graduate version, this course, shares much with the undergrads courses and yet is substantially different too – as will be evident later. However, if you had taken any of the above courses, or either or both of the APS234 or APS432 courses then taking this one is not appropriate. We provide the entire lecture series' notes and handouts used in the classroom so that you will not have to take detailed notes, save on texts and get the most up-to-date material. You should print out these notes and bring them to the classes and add whatever new information is given during the lectures.
Text: Longenecker, Donlevy, Calvert, Moore and Petty, “Small Business Management – an
Entrepreneurial Emphasis” Thomson Nelson publishers, ISBN 0-17-616847-8
Lecture Hours: Mondays from 6:00 – 9:00 pm in WB219 and the Hatchery Speaker Series
(marked as a Tutorial in the Calendar) is Tuesdays from 12:00 noon – 2:00 pm in BA1090.
COURSE DESCRIPTION
Rationale
Everyone from the media to government is talking about entrepreneurial activities as the engine of the Canadian economy. Strategic uses of innovation in almost all businesses spell the difference between success and failure. Multinational competition in all manner of businesses from manufacturing to service industries had produced a significant demand for engineers who can lead and manage the enterprise in all its undertakings. Our experience shows that the most successful people in these activities will be those who have the "entrepreneurial" spirit, the drive to create wealth and the persistency required to make a difference to their own companies. Large and medium sized corporations now search for the intrapreneur (an entrepreneurial individual who prefers to work inside a larger firm rather than to start or manage their own) who is expected to lead them to success in the foreseeable future. Today's young people will have to consider the alternative of "doing their own thing" instead of working for someone else. They are intent on doing things in their own way, in their own time, and at a pace that suits them. Entrepreneurs are in control of their own lives; they structure their own progress and are accountable for their own success. After all, engineers are the most capable people to be in charge of the changes required for successful business life in the global economy.

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If you have the "talent" for business, but more importantly, if you could hardly wait to leave university and pursue a career in small business, whether you started this yourself, a group of you, or join in the family business, this course is for you. In any case, the skills you will learn here will be very useful in any business where you might pursue a career, even if you are not an entrepreneur.
Purpose
Our approach to teaching is based on real-life business experiences and many years of successful practice of “what we preach”. The course contains very little theoretical work or academic approaches. It is designed to familiarise you with the kinds of opportunities (problems) likely to be encountered in an entrepreneurial career. If you really want this lifestyle and are prepared to work hard, we will provide you with the practical knowledge and
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