module specification

MN6W50 - Creating a Winning Business 2 (2017/18)

Module specification Module approved to run in 2017/18, but may be subject to modification
Module title Creating a Winning Business 2
Module level Honours (06)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
 
105 hours Guided independent study
45 hours Scheduled learning & teaching activities
Assessment components
Type Weighting Qualifying mark Description
Coursework 40%   Business Pitch
Coursework 60%   Business Action Plan
Running in 2017/18
Period Campus Day Time Module Leader
Autumn semester City Thursday Afternoon
Spring semester City Thursday Afternoon
Spring semester City Thursday Morning
Autumn semester City Thursday Morning

Module summary

Why do some companies succeed while others fail? Are some business ideas fundamentally better than others? How can you tell which ideas are worth investing time and money in and which are not? How can you find an idea to pursue that matches your skills, network and passion?

This module is a key introduction to identifying, critically assessing and developing new business opportunities. The approaches and processes covered can be applied equally to new commercial ideas, social enterprises or new ventures within an existing business.

The foundation of the module is a live project where you will develop your own startup idea leading to a live pitch and designing a business model. At each stage you will learn the concepts covered in the module by applying them to your own idea. You will have the opportunity to come up with new ideas on the module and do not need to have a business idea before you begin.

The module is relevant for anyone considering starting their own business, working for a SME or taking on an entrepreneurial role within a large organisation.

 

Prior learning requirements

Only open to students who have NOT already taken “Create a Winning Business 1”

Module aims

The module aims to enable students to:
1. explore the characteristics of new start-ups and identify the challenges they face at start-up stage
2. examine current industry activities, market trends to identify business opportunities
3. evaluate business ideas in order to assess start-up viability
4. identify various approaches and processes, methods and strategies applied by successful business owners in a range of different contexts
5. demonstrate an understanding of the importance of innovation and creativity
6. create and develop a market-ready business idea
7. compare the range of options available for obtaining start-up finance

The module also aims to assist students in the acquisition of the following skills:
1. Creative and critical thinking
2. Analysing data for practical application
3. Business Planning and start-up strategies
4. Communicating and presenting, orally and in writing
5. Self-assessment and personal reflection

Syllabus

Indicative content is indicated below and will enable achievement of the learning outcomes.
• Start-up success and failures
• Market trends and industry attractiveness
• Assessing opportunities, idea generation and business viability
• Start-up strategies
• Innovation and creativity
• Sustainable business models and revenue models
• Customer focused value propositions
• Effective teams and networks
• Obtaining financing for the business
• Self-reflection and career action planning

Learning and teaching

This module will be delivered through 3-hourly weekly workshops. The workshops will consist of a combination of theoretical input and problem-based tasks, supported by multimedia, including videos, case studies and student centred discussions, guest speakers and a visit to the Accelerator.
A strong student-centred focus means that concepts of action and experiential learning will be emphasised and students will be encouraged to focus on their own creative experiences. Class room discussions and activities will be interactive and participative.
Weblearn will be used for the distribution of the Module booklet. It will also be used to provide case studies and a range of examples to support independent study.  Assessment briefs and guidance will also be provided on this platform. Weblearn 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 feedback.

Learning outcomes

On successful completion of this module students will be able to:-

1. Debate the major challenges a new business encounters in creating a position in the marketplace
2. Critically judge relevant markets to enable idea(s) generation and assess viability for a new business concept
3. Select and debate creative and innovative solutions for business creation and development
4. Critically evaluate alternative processes and strategies for start-up stage
5. Generate and deliver a viable business proposal and evaluate and action-plan personal-development gains

Assessment strategy

Assessment for this module aims to be valid, reliable and consistent, transparent and diverse, ensuring that individual students are not disadvantaged by over reliance on any one particular form of assessment.  Assessment is demanding in that it is continuous and enables the demonstration of excellence. It is designed to guide student’s improvement, to help them self-evaluate, to aid their decision making, to help them learn from their mistakes and, where there are opportunities, plan their own curriculum and future career.  

Formative assessment is embedded throughout the module and requires completion of a range of in-class activities designed to enable students to critically self-reflect and create strategies for development and improvement.  Assessment will focus on the ability to apply theoretical concepts practicably and to real-world situations e.g. idea generation and considering business viability.

The first component of summative assessment will require students to draw from the module content to demonstrate and evaluate their own business acumen through the development and delivery of a short business pitch with supporting documentation.  The final component requires students to design a business model using the Business Model Canvas tool to demonstrate their ability to plan the development of their business idea.  In addition students will be required to reflect and articulate their personal development gains through experiential learning.

Bibliography

Bessant, J and Tidd, J. (2007) Innovation and Entrepreneurship. Chichester: Wiley.
Bewayo, E.D. (2010), 'pre-Start-Up Preparations: Why the business plan isn't always written', Entrepreneurial Executive, (15), pp. 9-23
Blundel, R. and Lockett, N. (2011) Exploring Entreprenruship: practices and perspectives. Oxford: Oxford.
Burns, P. (2011) Entrepreneurship & Small Business. Basingstoke: Palgrave MacMillan
Hatton, L 2011, 'Modeling the effects of new venture strategy on the environment', Journal Of Management & Marketing Research, (8), pp. 1-10.
Jayawarna, D., and Rouse, J. and Macpherson, A. (2014) ‘Life course pathways to business start-up’, Entreprenurship and Regional Development, 26(3/4), pp.282-312.
Kirby, D (2003) Entrepreneurship. Maidenhead: McGraw-Hill
Lowe, R and Marriot, S (2006) Enterprise: Entrepreneurship and Innovation. Oxford: Butterworth Heinemann.
Lumley, M. and Wilkinson, J. (2014) Developing employability for business. Oxford University Press: Oxford
Osterwalder, A. and Pigneur, Y. (2010) Business Model Generation – A Handbook for Visionaries, Game Changers and Challengers. New Jersey: John Wiley and Sons Inc.
Spector, Y. (2011) 'Theory of constraint methodology where the constraint is the business model', International Journal Of Production Research, 49(11), pp. 3387-3394
Stokes, D., Wilson, N., and Mador, M. (2010) Entrepreneurship. Cengage: Andover.
Williams, S. (2014) The Financial Times Guide to Business Start Up (27thed) Harlow: Pearson