According to Peter Drucker, often referred to as Godfather of Management, an entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity. Innovation is a specific tool by which entrepreneurs exploit change as an opportunity for a different business or service.
Medical Laboratory Service is often considered a social enterprise and not a business. However, these days many are beginning to see health as a business (“the business of health”). Medical Laboratory Scientists are not exposed in course of training to any form of the business of health and so lack competence in entrepreneurship. This course is an introduction to the business of entrepreneurship and has as its focus discussions about exploiting changes in the social/economic milieu of Medical Laboratory Scientists as an opportunity for establishing “private” businesses or services. It is true that some medical laboratory scientists have been providing services in the private domain over some five decades now and that even a trade group (GMLD) exists, but there are visible gaps in the structure of running these businesses for profit.
This course therefore provides the basic information required to equip those desirous of the pursuing that pathway. It exposes participants to the many challenges of entrepreneurship in a developing economy like Nigeria, the characteristics of entrepreneurship and entrepreneurs and the types of entrepreneurship. It discusses the roles of entrepreneurs, the entrepreneurial process and the many factors driving successful business. The course explores the structure for growth of businesses and the need for entrepreneurs to carryout bookkeeping tasks as it enables businesses to maintain organized records and create a financial road map. Newbies stand to benefit from this introductory exposition.