MN4001 - Business and Enterprise (2017/18)
|Module specification||Module approved to run in 2017/18|
|Module title||Business and Enterprise|
|Module level||Certificate (04)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2017/18||
The focus of this module is business. What is it? What drives it? What makes it successful? Are there ideal environments in which businesses start, grow and mature? Are there ideal types of businesses?
The turbulent and disruptive upheavals of the twenty-first century, including natural disasters, corporate failures, financial crisis, recession and austerity have prompted a review of the traditional view of business and enterprise as encompassing large organisations in a steady state of long-term planning. Today the dynamic of how business is conducted is changing. Recent research (DfBIS, 2011) has shown that 50% of private sector turnover is generated by small to medium-sized enterprises (SMEs). In addition, the DfBIS, (2011) suggests that, “60% of private sector jobs (almost 14 million) are provided by SMEs”.
This module provides students with an insight into the world of business. It examines various types of businesses and how they work. It explores the environment and its impact on the survival, success and growth of an enterprise. It covers the practical functions of business and enterprise such as sources of funding; marketing; communication; the theory and practice of selling; supply chains; the highly competitive global marketplace and e-business. It provides an underpinning of the operations function and an introduction to the concept of quality.
The module is cognisant of the increasing contribution of SMEs to the economy and provides a focus on the knowledge and skills students need to qualify them as employees of choice in high potential small dynamic businesses. The module seeks to foster students’ embryonic seeds of ambition to be enterprising employers of the future by setting up and running their own company.
The module features an interactive business simulation designed to replicate the multidimensional nature of business and management. It encapsulates fundamental cross-functional disciplines such as sales, marketing, operations and finance. Student teams are progressively led through major decisions including human resources through to strategy as they manage their own virtual company. Student teams compete against each other in an online multiplayer environment.
This simulation provides invaluable hands on experience for students, requiring them to analyse data, collaborate with each other, and make managerial decisions. By bringing concepts to life it also encourages them to engage with the theoretical material they are learning.
1. to develop students understanding of traditional and contemporary approaches to business and enterprise;
2. to provide an understanding of the impact of the external environment on business and enterprise;
3. to develop students’ commercial awareness;
4. to provide an understanding of the growing importance of the contribution of SMEs to the national economy;
5. to introduce the concept of entrepreneurship and its relevance to both large organisations and new ventures;
6. to provide an understanding of essential functions of business, such as funding, marketing and communication;
7. to enable students to develop their business skills including analytical and critical thinking; commercial awareness; decision-making; communication including professional presentations; IT; self-awareness, emotional intelligence and negotiation.
In addition to academic reading and writing this module focuses on business skills including analytical and critical thinking, commercial awareness, time-management, personal planning, report writing, preparing and delivering presentations, self-awareness, emotional intelligence, negotiation, brainstorming, mind mapping, digital literacy and IT.
• Explore the different types of businesses: SMEs to large organisations and sole traders to limited liability companies;
• The external environment and its impact on business and enterprise;
• Industry and business analysis;
• Essential functions of business and enterprise;
• Total Quality Management;
• A wide range of business skills
Learning and teaching
Delivery of Business and Enterprise will be through weekly workshops of three hours duration and these will be enhanced by group activities and participation in a competitive business simulation. The workshops will be student centred whereby students will be encouraged to research business and its environment from a variety of sources including textbooks, the business pages of newspapers, on-line sources and module materials.
The workshops will consist of the introduction and explanation of the basic theoretical building blocks on which the students will work in small groups to research the topic. The workshops provide students with the opportunity to develop their understanding of a particular business approach and its implication for start-up, growth and maturity.
This module offers the opportunity for students to develop a range of business skills and one hour of each weekly session will focus on the development of a particular business skill.
Blended learning: Along with the business simulation the module will engage a variety of approaches to teaching and learning including Blogs, e-journals, podcasts and multimedia. Weblearn will be used for the distribution of class material. It will also be used as an interactive mechanism between students and tutors, for example, to direct students to particular readings or to provide news about the module or the module content. It will also be used for the timely provision of generic feedback following formative assessment.
On successful completion of this module students will be able to:
1. demonstrate their understanding of different types of business organisation;
2. demonstrate knowledge and understanding of how the business world works;
3. critically analyse the business environment and evaluate relevant business information;
4. demonstrate commercial awareness by identifying business opportunities and proposing appropriate types of business organisations to capitalise on them;
5. illustrate knowledge and understanding of the impact of external factors on the success or otherwise of business;
6. demonstrate understanding of the contribution of SMEs to the national economy;
7. show an understanding of how to set up a small business;
8. identify the key functions in business enterprises;
9. demonstrate competence in a wide range of business skills.
The business simulation, provides an opportunity for students to apply theory and test their developing business skills. Participation in the business simulation is considered mandatory in order to achieve the learning outcomes and is embedded in the schedule of workshops.
The first assessment requires the students to report on their participation in the business simulation. They will be asked to reflect on what they did, what skills they used, and what they could have done differently in light of the outcome of their group’s business decisions. The second assessment will be a time constrained, in class test demonstrating module learning by responding to questions based on a topical business case study. The third assessment requires students to develop a personal development plan.
Formative assessment will run throughout the module and requires the completion of a range of in-class activities. These, along with summative assessment, are designed to provide regular opportunities throughout the year to consolidate student learning and provide feedback and will focus on the ability to apply theory and academic ideas in practical and real world situations, for example through the use of the business simulation.
Carter, S. and Jones-Evans, D. (2012) Enterprise and Small Business: Principles, Practice and Policy. [3rd
Ed]. Harlow: Pearson Education Ltd
Wetherly, P. and Otter, D. (2014) The Business Environment: Themes and Issue in a Globalising World.
(3rd Edn). Oxford: Oxford University Press
Baines, P., Fill C. and Page, K. (2013) Essentials of Marketing. Oxford: Oxford University Press
Barrow, C. (2011) Starting a Business from Home: Choose a Business, Get Online, Reach Your Market and Make a Profit. London: Kogan Page
Coggan, P. (2009) The Money Machine: How the City Works. UK: Penguin
Hamilton, L. and Webster, P. (2012) The International Business Environment (2nd Ed). Oxford: Oxford University Press
Harrison, A. (2014) Business Environment in a Global Context. (2nd Ed) Oxford: Oxford University Press
Lumley, M. and Wilkinson, J. (2014) Developing Employability for Business. Oxford: Oxford University Press
Rae, D. (2007) Entrepreneurship: from opportunity to action. Basingstoke: Palgrave MacMillan
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