The Entrepreneurial Mindset and the Process of New Venture Creation for Tomorrow's Leaders
This module aims to introduce you to the concepts of entrepreneurship and new enterprise formation. The module will provide an overview of the intellectual, physical and emotional demands associated with starting a new enterprise. The module will give you an insight into the realities of entrepreneurial activity, an understanding of processes important in improving the probability of success and an appreciation of the role small and medium sized enterprises play in a modern economy. New enterprise may be via the creation of a new independent entity (commercial or social) or the organisation of a new enterprise within an existing enterprise. The module will also give you a pragmatic insight into the processes and systems required to conceive, research, write and pitch a credible plan in order to gain the necessary resources to launch a new enterprise.
Internationalisation: The module focuses on principles and process elements which are transferable internationally, although non-UK students will also gain insight into the challenges facing UK start-ups. You will be able to develop a business plan for an overseas market if desired.
External Engagement: Workshops and practical work will include significant input from entrepreneurs and small business specialists.
Employability: You will be able to assess whether or not the entrepreneurial route is an appropriate career choice and, if it is, to embark with greater confidence on the process of converting an idea into commercial or social reality.
Sustainability: As part of the One Planet MBA, the module assumes the creation of businesses which support a resource-constrained world, and you will also have the option of working on a social enterprise if desired.
Full module specification
|Module title:||The Entrepreneurial Mindset and the Process of New Venture Creation for Tomorrow's Leaders|
|Duration of module:||
Duration (weeks) - term 2: |
4 days (6 weeks study)
By the end of this module you should have a critical understanding of the nature of entrepreneurship and the requirements for the launch and development of a successful enterprise. If you already have, or are working on an idea for a new enterprise, this module provides an ideal opportunity to develop, refine and test your concept, to write a business plan for it, and to get to the stage where you/ can raise finance.
ILO: Module-specific skills
- 1. Explain the challenges of establishing a new commercial enterprise.
- 2. Explain the nature, characteristics and challenges of establishing a social enterprise.
- 3. Evaluate what makes a successful commercial or social entrepreneur.
- 4. Assess the key elements and resource demands of the entrepreneurial process.
- 5. Develop a credible and informed plan for a start-up enterprise.
- 6. Appreciate the perspectives and interests of those parties who might finance a new enterprise.
ILO: Discipline-specific skills
- 7. Be critical of the research literature on entrepreneurship.
- 8. Employ basic finance and accounting techniques to test the viability of a new business plan.
- 9. Identify the key sources of information required for evidencing the potential of a new enterprise.
ILO: Personal and key skills
- 10. Articulate a promising idea or proposal for a new enterprise to a professional audience.
- 11. Assess the strengths and weaknesses of the key components of a business idea or plan.
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled learning and teaching activities||22||Lectures, seminars, workshops|
|Experiential learning||6||Visits to companies|
|Guided independent study||92||Reading, research and writing|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Reflective Group Presentations||10 minutes||1 - 4||Oral|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Group Presentation||25||20 minutes (wihthin module)||1 - 4||Written on slides presented|
|Individual Business Plan||50||3500 words||5 - 11||Written on plan|
|Dragon's Den Presentation||25||20 minutes||5,6,10,11||Written on slides presented|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Presentations and Plan||Single Assignment||1 - 11||Within 6 seeks of briefing|
The new assignment will have a brief which contains a different emphasis to the initial business plan.
Module introduction; small businesses overview; understanding entrepreneurship. The role of entrepreneurship in innovation and growth. Social enterprise: the development of enterprises underpinned by social equity and sustainability. New enterprise planning. Opportunity recognition: existence, recognition and exploitation. Assessment of opportunities; feasibility and competition/industry considerations. What makes a great enterprise plan? Venture success: pre-start up factors and post start-up factors. Venture success in the long run: survival, failure and exit. Sources of finance: debt finance and equity finance; aligning resources, customers and opportunity; creating high impact enterprises. How to pitch a new enterprise idea.
Indicative learning resources - Basic reading
The following list is offered as an indication of the type and level of information that you are expected to consult. Further guidance will be provided by the Module Convener.
Burns, P (2007) Entrepreneurship and Small Business, Palgrave.
Stokes, D and N Wilson (2006) Small Business Management and Entrepreneurship, Thomson.
Mair, J (2006) Social Entrepreneurship, Palgrave Macmillan.
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Last revision date