Launching an Entrepreneurial Business

Code

BUSI4440

School

Business

Level

4

Credits

10

Semesters

Spring UK

Summary

This module offers a comprehensive exploration of entrepreneurship, guiding students through the vital steps of establishing and growing a new venture. From an introduction to the concept of a 'new venture' to hands-on simulation software experience, the module covers practical aspects like setting up a business and engaging in group work dynamics. Key topics include Business Strategy for Start-Ups, Finance for Start-Up and Growth, Strategic Operations, and the crucial role of people in entrepreneurial teams, explored through a case study. Students learn Marketing and Sales strategies, with practical sessions on crafting and presenting growth strategies, leading to group presentations. The module includes a mentored session and coursework clinic for personalised support, ultimately preparing students with the knowledge and skills to navigate challenges and opportunities in entrepreneurship.

Target Students

Available for MSc Business and Management OR MSc Management OR MSc International Business OR MSc International Tourism Management and Marketing OR MRes Industrial Physical Biochemistry OR Social Science Research (Management and Business Studies) students AND MSc Exchange students.

Classes

• One 2-hour lecture each week for 11 weeks

This module is taught through a series of lectures.

Assessment

• 100% Report: 2,500 words.

Assessed by end of spring semester

Educational Aims

Learning Outcomes

Knowledge and Understanding

This module develops a knowledge and understanding of:
•    The dynamics of the global economy and international business and an appreciation of management issues from a global perspective.
•    Markets - the development and operation of markets for resources, goods and services 
•    Marketing and sales – different approaches for segmentation, targeting, positioning, generating sales, and the need for innovation in product and service design
•    Customers and stakeholders - customer expectations, service and orientation
•    Finance - the sources, uses and management of finance
•    People and strategic and operational HRM, meeting future organisational requirements, people development, HR systems
•    The management of resources
•    The management of projects
•    Information systems and business intelligence - the development, management, application and implementation of information systems and their impact upon organisations
•    Communications and the comprehension and use of relevant communications for application in business and management, including the use of digital tools
•    Business innovation and creativity, intrapreneurial/entrepreneurial behaviour and enterprise development, and the management and exploitation of intellectual property  
•    Leadership and management of people within organisations and leadership, organisational behaviour and motivation
•    Strategic management - the development and implementation of appropriate strategies within a changing environment

Intellectual Skills

This module develops:
•    Critical and creative thinking: Students will be able to manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately.
•    Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
•    Numeracy and quantitative reasoning including the development and use of relevant business models

Professional Practical Skills

This module develops: 
•    Effective performance within team environments and the ability to recognise and utilise individuals' contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management  
•    Leadership and performance management: selecting appropriate leadership style for different situations; setting objectives, motivating, monitoring performance, coaching and mentoring
•    The ability to recognise the need for and initiate change and to be able to manage change
•    The ability to recognise and address ethical dilemmas, corporate social responsibility and sustainability issues, applying ethical and organisational values to situations and choices
•    Using information and knowledge effectively: scanning and organising data, synthesising and analysing in order to abstract meaning from information and to share knowledge
•    Reflective practice for personal development

Transferable (Key) Skills

This module develops:
•    Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
•    High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience
•    Soft skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and in different situations
 

Conveners

• Dr Punita Bhatt