Entrepreneurship and Finance

Course Philosophy

This course provides students with a broad understanding of entrepreneurship and analyzes the key traits of a successful entrepreneur in the tourism and hospitality industry.

Objectives

Students will learn how to prepare a business plan and conduct a feasibility study. They will be introduced to key financial management tools such as calculating the weighted average cost of capital and understanding how borrowing affects it. They will also become familiar with investment evaluation techniques, funding sources, and the strengths and weaknesses of different financing options.

Intended Learning Outcomes

Upon successful completion of the course, students will:

• Learn methods for generating good business ideas and, importantly, how to evaluate them in the context of launching a successful new venture
• Understand the importance of building the right team and what defines a strong startup team
• Learn the concept of market segmentation, selecting target markets, creating buyer personas/customer profiles, and conducting primary & secondary market research
• Learn how to design products/services based on customer needs and ensure competitive advantages
• Understand how to select an appropriate business model that maximizes revenue/value/profit
• Learn how to develop market entry strategies, marketing and sales strategies, timelines, and action plans
• Learn how to implement chosen strategies, understand customer acquisition cost (COCA), customer lifetime value, and prepare related budgets
• Learn feasibility and viability evaluation beyond finance — technological, legal, etc.
• Learn how to create financial projections and what investors/banks expect to see
• Learn about funding sources, including EU grant opportunities
• Understand business growth planning, monitoring performance indicators, and using financial management tools
• Learn how to prepare and present a complete business plan for a new venture

An applied sciences research-orientated university, promoting research excellence and innovation for the benefit of science and society. Recently developed strategic plan gives emphasis on campus life, student experience and sustainable development within the 17 UNSDG’s framework.

CUT is young, public university, established in 2004, first outside the capital city, attracted high-caliber researchers and students.