Entrepreneur class foundation
This is a really creative idea, not only because of the anticipated earnings but also because of the level of student engagement it fosters, adding an engaging component of ongoing education and powerful marketing (Roth, 2014). On the plus side, the courses would be very much in use, which means that they would require strong training standards to increase student devotion to the courses. The adoption of the new technology would provide students with a lifetime window and serve as an everlasting advertisement for the university. Innovative entrepreneurship is a creative thinking attribute of the business thinking that can add newer dimensions for healthier services which in turn would boost the profits and minimise the costs.
Use of video-tapping is the direct introduction of technological facets to learning. It is now quite well established that technology in one way or the other boosts the learning process. To be very precise, making technology inclusive with the established learning platforms would create a better environment for effective learning. Besides, the videos would add much authenticity towards the learning process and the platform provided by the institution itself (Hisrich, 2011). The project has come up with newer insights regarding learning process as well the marketing strategy. Though, it would be essential to utilize the video production facility as a strategy for marketing and at the same time it would create life-long learning assets.
Students would be able to save the videos and watch anytime they want. Also, according to the marketing policy, they can also share them with their colleagues thus, giving an edge in context to the market. This programme is set be effective because almost all the other competitors do not employ such marketing strategy (Ramoglou, 2013). But, one thing is important and that is that the faculty who would be taking the classes should also be well aware of the technological implications so that the videos and even the learning process should be addressed and assessed with commitment to make them lucrative to the customers.
The project has proved very much beneficial for the own experience of the entrepreneur and added much important knowledge regarding general investment and funding, and he is lucky enough to get that at the beginning of the project only. What happens with most of the entrepreneurs is that they take time to learn such things because at most of the times such stuff comes out after the implementation of the project only (Penrose, 1959). The extra cost that the project needs comes with respect to the video production and all the liabilities associated with it. Such felicitation would actually offer new understanding for the growth of the business.
The project is set to pay off very huge profits and that is good news. The feasibility report is inclined towards the entrepreneur and responds well in the given situation. It is great to see the transition from $15,000 to $140,000 in just three years. One important thing to mention here is that the process of learning and marketing would definitely affect the course outline (Scott & Venkatraman, 2000). However, the finical structure including the investments and expenses needs to be well addressed for accurate calculations of the estimated profit and costs.
References
Hisrich, R. D. (2011). Entrepreneurship. McGraw-Hill Education.
Penrose, T. (1959). The Theory of the Growth of the Firm. New York: John Wiley.
Ramoglou, S. (2013). ""Who is a 'non-entrepreneur'? Taking the 'others' of entrepreneurship seriously"". International Small Business Journal.
Roth, S (2014). ""Booties, bounties, business models: a map to the next red oceans"". International Journal of Entrepreneurship and Small Business.
Scott, S.; Venkatraman, S. (2000). ""The promise of entrepreneurship as a field of research"". Academy of Management Review.
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