module specification

The aim of this module is to prepare students for establishing their own enterprise operating in the digital media sector. It additionally provides an opportunity for students to develop new online projects for any media, communications or entertainment companies.
The core of the module lies in understanding online applications and how these create business and commercial opportunities.
Notably, the course will reflect the increasingly global dimension of the media sectors, with emphasis given to understanding the Internet and other digital media platforms and applications.
The course is practically focused on providing support and understanding of business and entrepreneurial environment, and how to become a digital media entrepreneur.
 

● To understand the importance of business-oriented management in the creative industries.

● To understand the critical role of entrepreneurship in the creative industries.

● To understand the importance of innovation and technological adoption in the creative industries.

● To be able to use the tools and elements of entrepreneurship in the creative industries – whether from a corporate or an individual’s perspective.

It also aims to develop students’ skills, in particular:
• Researching
• Analysing Data
• Application of Knowledge and Presenting Data
• Notemaking
• Communicating/presenting – orally and in writing, including inter-cultural communication
• Critical Thinking and Writing
• Problem Solving and Decision Making
• Self/Time management, including self-efficacy
• Self assessment/reflection, including awareness of and management of emotions
• Interpersonal, including. collaborating / working with others, cross cultural awareness, having a positive attitude, negotiation and persuasion
• Digital literacy and IT skills
• Numeracy/quantitative
• Enterprise skills, including taking initiative, being creative, leadership, completing tasks and projects, taking calculated risks
• Commercial Awareness, including vision, corporate social responsibility and governance
• Career management
 

● Entrepreneurs, Innovation, and Business in the New Economy. Starting Your Business – Creative Entrepreneurship

● Entrepreneurs, Innovation, and Business in the New Economy. Starting Your Business – Creative Entrepreneurship

● Finding Your Market – The market can find you! Entrepreneurs and the Institutional Environment

● Raising Finance. Idealism & the Realities of Risk

● Legal Issues in Setting up your Business. Use of the Internet and Digital Media for the Creative Enterprises

● Introduction to Business Planning

● Start-up Requirements, the Market, and Management Summary

● Sales Forecast and Projected Profit & Loss

● Projected Balance Sheet and Cash Flow Statements

● Break-even Analysis and the Executive Summary

This module will be taught in both lectures and seminars. The lectures will be used to deliver the core information and analytical frameworks. Seminars will be used for more in-depth teaching, class examination of case studies and study time and/or exercises. Where possible, guest speakers will be invited to lecture.

The module's teaching, learning and assessment activities have been designed with the aim of developing the following set of skills: academic reading (textbooks, newspapers, websites, economic/business reports), researching (identifying relevant material, evaluating sources, awareness of appropriate methodologies), analysing and interpreting data, presenting data, academic writing (report, short tasks, referencing), note-making, communicating/presenting – orally and writing, critical thinking, problem solving, self-assessment and reflection, interpersonal (working with others), IT skills development, numeric and quantitative skills, and creativity.

One activity week shall be incorporated into the teaching strategy to provide an opportunity for whole-group activities and tutorials, and these shall be linked to the assessment strategy on at least one occasion. The themes for the activity weeks shall centre upon student belonging and employability.

On successful completion of this module students will, with reference to the media industries, be able to:

Identify exemplars of media industry entrepreneurship

Analyse what entrepreneurship is and relate it to entrepreneurship and innovation management in the industries

Understand the roles / importance of commercial and social entrepreneurship

Students will be able to critically assess the potential and pitfalls of different ways of organising media based entrepreneurial activity

Write an integrative Business Plan for a new media business venture

There are two assessments for this module, both developed with the aim of testing the learning outcomes.

The first assessment (30% of the total mark) is a written report (1500 words), - a case study analysis- students will write an analysis of their chosen existing media start-up company that they consider to be an inspirational example for the media and creative industry. This will include also a profile of the management team and identifying the leadership style and skills.

The second assessment (70% of the total mark) is a written coursework which will follow a business plan format (3,000 words). This business plan will be outlining a new media business enterprise.
This will be a report produced individually by students and be a hypothetical plan for a media industry start-up or new corporate venture. The student will be required to demonstrate achievement of the learning outcomes by including all key taught components in the business plan and using their own research and reality checks.

All books are in the London Met library:

Aris, A and Bughin,J (2009) Managing Media Companies: Harnessing Creative Value,
John Wiley & Sons
Bhide, A How Entrepreneurs Craft Strategies That Work Harvard Business Review Reprint 94202
Bhide, A The Questions Every Entrepreneur Must Answer Harvard Business Review Reprint 96603
Branson, R (2000) Losing my Virginity, Virgin Books
Croteau, D. and Hoynes, W. (2001) The Business of Media, London, Sage
DCMS/Kingston University, Small Business Research Centre (2001) Banking on a Hit: The funding dilemma for Britain’s Music Businesses, DCMS
Doyle G (2002) Understanding Media Economics Sage Publications
Friend, G and Zehle,S (2004) Guide to business planning, The Economist & Profile Books
McKnight, Vaaler, Katz (editors) (2002) Creative destruction: business survival strategies in the global Internet economy, MIT Press
Sahlman, W A How To Write A Great Business Plan Harvard Business Review Reprint 97409
Journals (available online and printed)
Music Week; Billboard; The Guardian (Monday edition Media section); The Financial Times (Tuesday edition-Creative Business); Business Week; The Economist; Broadcast

Example of online sources:
www.bgateway.com
www.culture.gov.uk
www.ofcom.org.uk
www.bpi.co.uk
www.ebstrategy.com
www.datamonitor.com/companies/
www.wpp.com/wpp/companies/