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ENT3020 Expanding The Venture

Advanced · 1 credit · BIT - Business, Admin, Finance and IT

Description
Students explore and assess the elements of success in expanding a venture.
Prerequisite
None
Parameters
No specialized equipment or facilities.

Outcomes The student will:

  • 1 describe the rationale for expanding a particular venture

    • 1.1 analyze the rationale for expanding a particular venture, taking into consideration:

      • 1.1.1 personal criteria; e.g., values, goals, expertise

      • 1.1.2 economic criteria

      • 1.1.3 financial criteria

      • 1.1.4 social/ethical criteria

      • 1.1.5 personal definition of a successful venture

    • 1.2 compare personal philosophy with venture goals

    • 1.3 evaluate the options available for expansion including:

      • 1.3.1 vertical or horizontal expansion

      • 1.3.2 diversification

  • 2 identify the options available and describe an expansion strategy

    • 2.1 identify and appraise the conditions that indicate the possibility for expansion

    • 2.2 predict the impact of expansion on the roles within the venture

    • 2.3 devise realistic goal expectations for expansion

    • 2.4 identify possible directions for expansion

    • 2.5 explain the concept of franchising as a means of expanding business

    • 2.6 evaluate the benefits and risks

    • 2.7 explain the process of establishing franchises

  • 3 describe a plan to expand a particular venture

    • 3.1 analyze the limitations resulting from the type of venture involved

    • 3.2 design a plan for implementing the expansion

    • 3.3 devise a strategy to achieve the expansion that includes:

      • 3.3.1 managing

      • 3.3.2 financing

      • 3.3.3 promotion

  • 4 describe the elements of success in the expanded venture

    • 4.1 identify the social consequences

    • 4.2 analyze the degree of success in achieving the financial goals

    • 4.3 predict the need for future/continued expansion

  • 5 demonstrate basic competencies

    • 5.1 demonstrate fundamental skills to:

      • 5.1.1 communicate

      • 5.1.2 manage information

      • 5.1.3 use numbers

      • 5.1.4 think and solve problems

    • 5.2 demonstrate personal management skills to:

      • 5.2.1 demonstrate positive attitudes and behaviours

      • 5.2.2 be responsible

      • 5.2.3 be adaptable

      • 5.2.4 learn continuously

      • 5.2.5 work safely

    • 5.3 demonstrate teamwork skills to:

      • 5.3.1 work with others

      • 5.3.2 participate in projects and tasks

  • 6 create a transitional strategy to accommodate personal changes and build personal values

    • 6.1 identify short-term and long-term goals

    • 6.2 identify steps to achieve goals

Program of Studies 2009. Source document, © Alberta Education.