LT6W50 - Business Innovation Through Events (2020/21)
|Module specification||Module approved to run in 2020/21|
|Module title||Business Innovation Through Events|
|Module level||Honours (06)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2020/21||
‘Business innovation through events’ will expose students to some of the challenges facing event entrepreneurs and freelancers in the 21st century.
The module seeks to develop students’ ability to evaluate business models and articulate proposals that capitalise on current and advanced business innovation. It aims to facilitate students in developing new business ideas and solutions and enhance their ability to communicate these in a variety of mediums.
Students will undertake an analysis of a given business or industry context, supported by evidence of innovation and best practice. By drawing collectively on learning from other modules, and through evaluation and synthesis, students will then develop a plan for a new business or event start-up; this needs to reflect class leading industry innovation as well as commercial viability.
The module offers a work-related learning component that builds on previous learning form level 4 and 5 by actively engaging the students with real business environments.
The module will familiarise the students with the process of business model formulation. Relevant tools and techniques that can be utilised for effective business module development and planning will be introduced. LO1
The syllabus will cover topics such as: definition of a business model; new products and service development using the Venture Design Framework; assessing the business model environment; identifying and analysing customer segments; The Business Model Canvas and each of its 9 building blocks; evaluating business models using SWOT and other analytical tools; demonstrating financial viability. Business modules such as Long Tail, Unbundling, Multi- sided platforms, Free as business model and Open Business models will also be explored. LO2
Balance of independent study and scheduled teaching activity
The overall teaching strategy is one of experiential learning. Students will engage in problem-based learning activities both in the classroom and in real business environments.
A programme of workshops will be supported by seminar sessions both enhanced with the use of digital tools such as video tutorials and other online resources; this will allow students to actively engage with the taught content and using it to work on individual and small group exercises in the workshops, the seminars and online. All sessions will be substantially student-led. The online video presentation of the assessment reflects the central role that blended learning plays in this module.
Students will then be given the opportunity to link theory to real world practice through the addition of regular business and event visits.
Students will reflect on how the experience, skills and knowledge gained on this entrepreneurship centred module contributes to their future career. They will be required to append to the business plan document submission a brief reflective commentary in which they articulate their personal development gains through the experiential learning and submit their up to date CV (formatively assessed).
By the end of this module, students will be able to:
1. Analyse the business environment within a given business or industry context and critically evaluate management/business solutions in terms of operational effectiveness and efficiency [Assessed in A1]
2. Synthesise business solutions that demonstrate class leading practice and innovation as well as commercial viability [Assessed in A2]
Assessment 1: 10-minute video documentary on an identified business idea or problem that has been solved of needs solving and which documents and critically apprises example/s of innovation and best practice within a given business or industry context. Individual coursework. [LO1]
Assessment 2: formulate a business plan for a new start-up enterprise. This plan would normally be expected to reside within the same context, or address the problem identified in Assessment 1. It should comprise of (as a minimum) a ‘business model canvas’, financial template and a detailed set of assumptions. The business plan should demonstrate class leading best practice and commercial viability. [LO2]
Assessment tariff alignment: L6 (15 Credits) max 5000 words per module
Video Presentation 10 minutes
Business plan 3500 words
Total 3500 words + 10 minutes
Barringer, B.R. (2014). Preparing Effective Business Plans. Pearson: Harlow, Essex.
Barrow, C. Barrow, P. Brown, R. (2012). The Business Plan Workbook. 7th edition. Kogan Page: London.
Osterwalder, A. Pigneur, Y. (2010)., Business Model Generation.
[online]. Wiley. Available from:<http://www.myilibrary.com?ID=275629>
Berridge, G. (2007). Events Design and Experience. Routledge: Oxon, UK.
Conway, S. Steward, F. (2009). Managing and shaping innovation. Oxford University Press: Oxford, UK.
Drucker, P. F. (2007). Innovation and entrepreneurship: practice and principles. 2nd edition. Butterworth-Heinemann: Oxford, UK.
Drucker, P. F. (2007). The Practice of Management. Revised edition. Butterworth-Heinemann: Oxford, UK.
Jackson, N. (2013). Promoting and Marketing Events: Theory and practice. Routledge: Oxon, UK.
Johnson, G. Whittington, R. Angwin, D. Regner, P. Scholes, K. (2013). Exploring Strategy. 10th edition. Pearson: London, UK.
Kotas, R. Conlan, M. (2001). Hospitality Accounting. 5th Edition. Thomson Learning: London, UK.
McKeever, M. (2008). How to write a business plan. 9th Edition. Nolo: Berkley, CA.
Porter, M. (2008). On Competition: Updated and expanded. Harvard Business Press: Boston, USA.
Chesbrough, H. W. (2003) ‘The Era of Open Innovation’, MIT Sloan Management Review, 44(3), pp. 35–41.
Eisenmann, T, Parker, G, & Alstyne, M (2006),Strategies for Two-sided markets, Harvard Business Review, 84(10), pp. 92-101.
Van De Ven, A. H., & Poole, M. S. (1995), explaining development and change in organisations, Academy of Management review, 20(3), pp.510-540.
Additional resources such as readings, online video tutorial links and others will be provided to students via Weblearn