NEW VENTURE CREATION

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3N122284
Module Leader Charlotte Craig
School INTO
Subject INTO
Trimesters
  • A (September start)
  • B (January start)

Pre-Requisite Knowledge

An appropriate and acceptable range of business and quantitative modules.

Summary of Content

This module examines the entrepreneurial processes required to plan, launch and sustain a new venture. The module explores the behavioural characteristics of entrepreneurship using case studies of existing and practising entrepreneurs so that students gain an appreciation of the individual's practice and behaviour when undertaking this demanding and non-linear process. The module investigates opportunity recognition and exploitation of a business opportunity. Applying theory to practice, students are required to identify their own business opportunity and then prepare a business plan. A range of aspects of business planning are studied allowing investigation into the various types of new venture. Students are introduced to financing ventures and apply structured financing packages to their own idea within a project. Various business start-up models are used to give a theoretical underpinning to the new venture creation process.

Syllabus

Entrepreneurship - Scottish entrepreneurs and the economic environment for small to medium sized enterprises Characteristics and behaviours of entrepreneurs New venture opportunities and evaluation New venture business models The business planning process Financing New Ventures

Learning Outcomes

On successful completion of this module the student should be able to:-1. Critically understand the theories of entrepreneurship.2. Compare and contrast alternative models of business start-up and relate these to the individual characteristics demonstrated by entrepreneurs.3. Evaluate potential business opportunities.4. Develop a viable business plan for the new venture.

Teaching / Learning Strategy

This module is delivered through a combination of lectures, case study analysis, classroom discussion in seminars and active learning where the business idea is shaped and refined during the development of the business plan. Teaching is supported by guest lectures by Scottish entrepreneurs and executives from the economic development network in Scotland. Assessment is based on experiential learning and reflective practice designed to enhance the learning experience and allow students to demonstrate their achievement of the targeted outcomes. FEEDBACK STRATEGY Students will receive continuous feedback during workshop sessions on their Business Plan development and on a Project Log. Feedback will normally be available 2 weeks after the submission of the final report. A mid-semester test is available to students - feedback will be given normally within 2 weeks.

Indicative Reading

Core Text (recommended for purchase) David Deakins and Mark Freel, "Entrepreneurship and Small Firms" 2003, McGraw-Hill, 3rd edition. Recommended Reading Sara Carter and Dylan Jones Evans, "Enterprise and Small Businesses: Principles, Practice and Policy", 2000, F/T Prentice Hall. J.A. Timmons and S. Spinelli, "New Venture Creation - Entrepreneurship for the 21st Century", 6th Edition, 2003, McGraw Hill Irwin, London, UK. Paul Burns, "Entrepreneurship and Small Business", 2001, Palgrave Philip Wickham, "Strategic Enterprise", 2nd Edition, Prentice-Hall Web Resources www.scottish-enterprise.com www.glasgowdevelopment.co.uk www.fsb.org.uk www.ft.com/management/enterprise www.babson.edu/entrep/fer/ www.dti.gov.uk www.sbs.gov.uk www.psybt.org.uk www.equitygap.com www.startups.co.uk www.patent.gov.uk www. companieshous.org.uk www.inlandrevenue.gov.uk Journals Journal of Entrepreneurship Theory and Practice International Journal of Entrepreneurial Behaviour and Research Journal of Small Business Management Journal of Small Business and Enterprise Development

Transferrable Skills

Group working, numeracy skills, critical analysis, written and oral communication.

Module Structure

Activity Total Hours
Workshops (FT) 12.00
Seminars (PT) 6.00
Independent Learning (FT) 150.00
Workshops (PT) 12.00
Lectures (FT) 6.00
Assessment (FT) 26.00
Lectures (PT) 6.00
Independent Learning (PT) 99.00
Assessment (PT) 26.00
Independent Learning (PT) 51.00
Seminars (FT) 6.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 0.00 50.00 35% Group Business Plan - 2,000 words
Coursework 0.00 40.00 35% Individual Essay - 2,000 words
Coursework 3 0.00 10.00 35% Individual Reflective Report - 1,000 words