Business Planning

The course covers the elements that are commonly included in a business planning process, and in the context of the course the students write a complete business plan based on their own business idea, which must then be presented orally and in writing. The course begins with a review of how a business idea can be formulated and analysed in a structured way. Next, the course focuses on how to conduct an industry and market analysis. This is done to evaluate the viability of the business idea. There will also be an introduction to the topics of growth strategies and marketing. The course discusses various business models and forms as well as the advantages and disadvantages associated with choosing one of these. Other subjects covered in the course are the organisation of companies, various types of resource acquisition and different possible ways to fund a company that is in its establishment phase. Additionally the course addresses the importance of companies having a good economic foundation and as part of this the course discusses various topics, including liquidity planning, budgeting, revenue / cost generation and pricing.