Available to short-term/exchange students
OverviewThis module is designed to provide students across the university with access to knowledge, skill development and training in the field of entrepreneurship with a special emphasis on developing a business plan in order to exploit identified opportunities. Hence, the module will be of value for students who aspire to establishing their own business and/or introducing innovation through new product, service, process, project or business development in an established organisation. The module complements students' final year projects in Computing, Law, Biosciences, Electronics, Multimedia, and Drama etc.
The curriculum is based on the business model canvas and lean start up principles (Osterwalder and Pigneur 2010) on designing a business plan for starting a new venture or introducing innovation in an established organisation. It includes the following areas of study:
• The new business planning process and format, developing and evaluating the business idea, producing a business plan, which includes four main sections, namely, business concept, marketing plan, operational plan and financial plan.
• Researching internal and external environment – market research, value co-creation with customers, company’s macro (i.e. PESTEL) and industry (Porter’s five forces) environment analysis, internal company analysis (Resource Based View), external collaborator analysis, and SWOT
• Developing the business concept – Identifying/developing the value proposition, specifying the business offer (i.e. use product anatomy analysis for presentation), deciding an appropriate ownership structure, laying out mission, aims and objectives (i.e. using SMART), and identifying legal formalities including intellectual property strategies.
• Developing the marketing plan – Identifying target customer groups, designing customer relationship management strategies and distribution channels, planning the sales and marketing processes, customer perceptions and customer care, developing quality standards for the business (i.e. using 7 Ps analysis for presentation).
• Developing the operation plan – Identifying key activities to be carried out, matching key activities with resources for an effective and efficient use of resources, planning and employing staff, planning and obtaining premises, physical and financial resources; phased implementation of the business plan.
• Developing the financial plan – Identifying appropriate sources of finance, and evaluating and managing the financial viability of a business by developing Forecast cash flow statement, Sales and Profit account and Profit and Loss Account, a description of the composition of the balance sheet, financial indicator- Breakeven analysis, by highlighting underlying assumptions.
This module appears in:
- Computing Stage 2/3 Canterbury
- Short-Term Study
- Social Sciences Undergraduate Stage 2 & 3
- Wild Modules
Independent Study 128
Total hours 150
Method of assessment
Group assignment – 1500 word reflective report of business model simulation, which provides students the opportunity to set-up, manage and grow their virtual company 30%
Individual report – 4000 Word Comprehensive Business Plan for establishing a new business venture or introducing innovation (e.g. new product/ service/ process/ business / project development) in an established organisation 70%
Burns P. (2014). New venture creation: a framework for entrepreneurial start-ups, Basingstoke, Hampshire: Palgrave Macmillan.
Grant R.M., (2016). Contemporary strategy analysis, Chichester, West Sussex: Wiley.
Osterwalder A., Pigneur Y. and Clark T. (2010) Business model generation: a handbook for visionaries, game changers, and challengers, Hoboken, New Jersey: John Wiley & Sons.
Williams S. (2016). The Financial Times guide to business start up 2016, Harlow, England: Pearson
8.1 Develop a viable business plan for establishing a new business venture or introducing innovation (e.g. new product/ service/ process/ business / project development) in an established organisation.
8.2 Discover and/or create opportunities to generate value to potential customers.
8.3 Conduct research necessary to gain in-depth knowledge required to develop a business plan.
8.4 Devise a marketing plan to generate value to customers.
8.5 Design a plan to operationalise a business model.
8.6 Develop an effective financial plan for a business and evaluate its viability.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
9.1 Understand the specific skills required to successfully establish and operate a
new enterprise, project or business unit etc.
9.2 Cooperate with others in the acquisition, development and application of useful information.
9.3 Communicate effectively using appropriate media.
9.4 Organise own time and effort so as to use available resources efficiently.
9.5 Demonstrate skills for using business simulation as a tool to plan business activities.