Module overview
This module provides you with practical skills and knowledge which are important in developing a new venture. The module will assist you in identifying opportunities to exploit, how to establish a business model and how to protect intellectual property. You will also become familiar with tools and techniques which are useful in developing and planning a new venture. At the end of the course, you will be able to develop a business plan and to prepare a business pitch to potential investors.
Linked modules
Prerequisites: MANG1003 or (MANG1020 and MANG1021) or ENTR2001 or ENTR2004
Aims and Objectives
Learning Outcomes
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- plan and control effectively for successful completion of a personal workload;
- communicate effectively, in both oral and written form, using and justifying argument within reports, presentations and debates.
- use a wide range of information sources requiring the development of bibliographic skills including the use of CD-ROMS and the Internet;
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- evaluate the importance of intangibles in the creation of a successful business.
- evaluate the significance of intellectual property in the business idea and take appropriate measure to protect the idea if necessary;
- evaluate and apply appropriate theoretical concepts, models, frameworks, tools and techniques to assess the feasibility, or otherwise, of a new venture idea;
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- the role of investment in new venture creation.
- the development of ideas through to feasible business opportunities;
- the identification and development of a potential business idea from your own knowledge/experience base;
- key issues concerning the feasibility, or otherwise, of business ideas, such as intellectual property, risk, emergent markets;
- the importance of planning in new venture creation;
Syllabus
- Developing ideas for business - the importance of planning and strategy.
- The feasibility analysis: overview and key dimensions.
- Researching the market - tools and techniques.
- Intellectual property issues - patents, trademarks and brands.
- Strategies for assessing and managing risk.
- Positioning products in emergent markets, entrepreneurial marketing.
- Assessment of competition.
- Building management teams and working relationships.
- The role of external agencies.
- Financing the venture.
- Elevator pitches for assessment.
- Business idea development in practice - preparation of a credible business plan.
Learning and Teaching
Teaching and learning methods
The teaching methods are primarily the lecture and seminar. Student participation, small group activities, short case studies and other teaching methods will be integrated in the lectures as warranted. Lectures will be supported by activity-based seminars and will include the use of videos, case studies, and guest speakers.
Type | Hours |
---|---|
Follow-up work | 58 |
Seminar | 10 |
Completion of assessment task | 58 |
Lecture | 24 |
Total study time | 150 |
Resources & Reading list
Textbooks
Burns, P. (2017). New venture creation: A framework for entrepreneurial start-ups. Palgrave.
Barringer, R.B. and Ireland, R.D. (2006). Entrepreneurship: Successfully launching new ventures. Pearson.
Assessment
Summative
This is how we’ll formally assess what you have learned in this module.
Method | Percentage contribution |
---|---|
Group presentation | 20% |
Report | 80% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Method | Percentage contribution |
---|---|
Report | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Method | Percentage contribution |
---|---|
Report | 100% |
Repeat Information
Repeat type: Internal & External