In this module the nature of entrepreneurship and the importance of entrepreneurship for the vitality of a national economy with specific emphasis on the UK and European context will be discussed. This module is hands-on in nature and the focus is on experiential learning. Through a simulation game, students gain an understanding of the complexity of initiating a business, the array of decisions that are required based on incomplete information, and the dynamic and competitive nature of the marketplace in which new products and services are introduced. Using simulation as an educational tool, students engage in entrepreneurial core activities: Identifying and exploiting market opportunities.
Much attention will be paid to the concept of business models, the search for an appropriate business model and the validation of business models. This module also features voices from the world of entrepreneurship, i.e. entrepreneurs that speak to students in class and interaction with entrepreneurs through visits to start-ups.
A critical aspect of any entrepreneurial activity is the acquisition of resources, primarily financial and human resources. Different alternative funding mechanisms will be discussed. In addition, various strategies will be highlighted to profit from an innovation created by entrepreneurs.
Further, we discuss the internationalisation aspects of entrepreneurship, and strategies to internationalize new ventures. Finally, the module stresses that entrepreneurial activity may not only occur through individual efforts by entrepreneurs, but may also occur in existing corporate settings.
Contact hours: 36
Private study hours: 114
Total hours: 150
Main assessment methods:
(a) Entrepreneurial Team Pitch 15%
(b) Team-based simulation report, 15%
(c) Individual Essay, 3500 words, 70%
Re-assessment methods:
100% coursework.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate systematic understanding of the global, institutional and cultural context of enterprise and its impact on entrepreneurial activities, as well as the link of these to innovation and sustainable organizational performance
- Demonstrate detailed knowledge of the challenges associated when working within an entrepreneurial team and be able to manage effectively, ethically and responsibly.
- Conceive of and develop an attractive entrepreneurial idea, and explore strategies to exploit this opportunity
- Demonstrate a critical understanding and utilisation of the tools/ frameworks in practicing entrepreneurship
- Develop the skills required to successfully "pitch" an entrepreneurial idea
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate complex problem solving and decision making skills
- Demonstrate advanced research and critical thinking skills
- Learn through reflection on practice and experience
- Work and study independently and in groups, and utilise resources effectively
- Communicate effectively to a variety of audiences and/or using a variety of methods
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