Creating Your Own Enterprise - BUSN7420

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2022 to 2023
Medway
Autumn Term 6 15 (7.5) Anoosheh Rostamkalaei checkmark-circle

Overview

The understanding and application of enterprise knowledge is seen as a transferable skill that can have cross-division application within the University, in that it has relevance to students from a broad range of academic disciplines who might be considering self-employment after graduation.

The curriculum is based on the Small Firms Enterprise Development Initiative (National Standards-setting body for small business) Standards for Business Start-up but has been expanded to include contemporary issues such as Intellectual Property and recent legislation.

Indicative areas of study are:

• Why firms become insolvent – economic financial and operational reasons for business failure; risks & liabilities; skills requirements for business ownership; self-development planning; sources of advice, and support for businesses.

• The new business planning process and format - developing and evaluating the business idea and producing a business plan for potential lenders.

• Financial aspects – budgetary planning and control; cash-flow and working capital; understanding financial accounting and key financial documents; break-even analysis; credit control, and debt recovery.

• Market research, competition and barriers to market entry - identifying customers; market segmentation; planning the sales and marketing processes; customer perceptions and customer care, and developing quality standards for the business

• Legal issues - reporting requirements; UK & EU law relevant to small businesses; business formats and trading status and their respective risks and liabilities; insurance; insolvency, and intellectual property rights such as patents and copyright.

• Planning and employing staff - planning and obtaining premises; physical and financial resources, and the phased implementation of the business plan.

• Commercial Presentation – prepare and facilitate a commercial business presentation on a newly created venture

• Financing of the venture- Understanding different sources of financing start-ups, understanding the benefits, shortcomings, and requirement of each method

Details

Contact hours

Private Study: 128

Contact Hours: 22

Total: 150

Method of assessment

Main assessment methods:

Team case study analysis (2000 words) (15%)

Individual Business elevator Pitch (Presentation) (5 mins) (15%)

Individual Business Plan (3000 words) (70%)



Reassessment methods:

100% coursework

Indicative reading

The University is committed to ensuring that core reading materials are in accessible electronic format in line with the Kent Inclusive Practices.

The most up to date reading list for each module can be found on the university's reading list pages.

See the library reading list for this module (Medway)

Learning outcomes

The intended subject specific learning outcomes.
On successfully completing the module students will be able to:

- Demonstrate a systematic understanding of the financial processes relevant to a new business venture and/or enterprise.

- Apply a critical understanding of the legal implications of developing a new business.

- Demonstrate through the production of a Business Plan/Presentation the understanding of the planning processes for implementing the proposed venture and/or enterprise.

- Apply established marketing processes relevant to a new business venture and/or enterprise.


The intended generic learning outcomes.
On successfully completing the module students will be able to:

- Co-operate with others in the acquisition and application of useful information.

- Communicate information, ideas, problems and solutions effectively using appropriate media to both specialist and non-specialist audiences.

- Demonstrate initiative and personal responsibility in working and studying independently.

- Apply the methods and techniques learned to review, consolidate, extend and apply their knowledge and understanding to initiate and carry out a project.

Notes

  1. Credit level 6. Higher level module usually taken in Stage 3 of an undergraduate degree.
  2. ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
  3. The named convenor is the convenor for the current academic session.
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