Entrepreneurship & Innovation Project 2024
Week-4: Tuesday, 6th February & Thursday, 8th February
Week-4 of the Entrepreneurship and Innovation Project course will further expand on financial statement (as introduced in week-3) by expanding on the theme Direct Cost of Sales (Profit and Loss) within the context of the Altman Z-Score for Calculating Bankruptcy (and application of Z-Score in a wide range of contexts); Understanding Macro Financial Implications for Entrepreneurship; creating Software for hardware Prototypes.
Learning Outcomes 2 and 5: Innovation and Design Thinking in terms of Potential/Prospective Markets; Introduction to Intellectual Property (Design Thinking); and Understanding Financial Statements.
Key Themes for Week-4:
Financial Statements continued
Understanding Macroeconomic Financial implications for entrepreneurship
Understanding Direct Cost of Sales & Altman Z-Score for Calculating Bankruptcy
How much did the product or service cost to produce?
How much Profit did the company make from having used resources to sell the product/service? Did they make a profit or loss? What is a good profit?
What is the income gained from selling the product once all other costs (per product) that went to paying for variables such as marketing, human resources, materials, contractors and other suppliers are deducted from the money taken in from making a sale?
Student Assignment for Week-4:
Students provide a reflective Blog on Innovating as Part of a Team in-terms of Challenges and Opportunities for self-knowledge.
Hardware and Software Labs for Week-4:
Tuesday Lab: Guest Speaker on Soul of New Machine and History of Software and Hardware Entrepreneurship.
Thursday Lab 1: Altman Z-Score Data Manipulation and Analysis for Financial Statements.
Thursday Lab 2: Reflections on Hardware from "The Soul of A New Machine" ; & Pi Picos with rotary angle sensors and buzzers.
Key Readings for Week-4:
Disciplined Entrepreneurship, Pages 69-90
Profile a Persona for the Beachhead Market
Understanding Full Life Cycle Use Case
Development As Freedom, Page 146-188
Economic Needs and Political Freedoms
Constructive Role of Political Freedom
The Practice of Democracy
Famines and Other Crises
Protective Role of Democracy
Soul of a New Machine, Pages 140-163
Be Wary of Your Competitors (Chapter 8)
Workshop Your Business Ideas (Chapter 9)
Edward Altman Z-Score
Business Case Study for Week 4