Why do some businesses seem to constantly fail, whilst others seem to find success at every turn? In this free entrepreneurial short course, we explain how and why businesses fail, how to avoid and mitigate your failures, and how you can benefit from them. We would review and discuss the cases of building empire and failures linked to Aliko Dangote (Nigeria’s Billonnaire), and Jack Maa (Chinese Billonnaire).

Aim Of This Course

Did you know that over 50% of new ventures fail in the early years of formation? By solely focusing on successful entrepreneurship, we miss great opportunities to learn emotional regulation and resilience after failure. Anti-failure bias in entrepreneurship has hindered our understanding of the systemic relationship between success and failure. This short course is designed to equip start-up firms with knowledge of how to manage and learn from failure in hostile business settings of Africa.

Learning Outcomes

On completion of this short course you are expected to: –

1. Demonstrate critical knowledge and understanding of how to manage failure during new venture creation (start-up phase)

2. Evaluate critically personal orientation and attitude to failure

3. Apply real option methodology to minimise costs and fail forward

4. Understand bankruptcy laws and their implications to entrepreneurs and society

Learning Environment

This short course will be delivered online, with participants required to engage via the PAICA online portal. Materials will be provided including videos, articles and other multi-media resources.

Indicative Content

• Emotional intelligence

• How to learn from failure

• Failure orientations

• Recovery after failure

• How to apply real option theory to fail forward

• Effectual reasoning

• Bankruptcy laws and their effect on new venture creations at individual, corporate, and societal levels