CB714 Marketing Principles and CB330 Fundamentals of Financial Accounting
OverviewThe understanding and application of enterprise knowledge is seen as a transferable skill that can have cross-school 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.
The module will include the following areas of study:
1) 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.
2) The new business planning process and format - developing and evaluating the business idea, and producing a business plan for potential lenders.
3) 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.
4) 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
5) 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.
6) Planning and employing staff - planning and obtaining premises; physical and financial resources, and the phased implementation of the business plan.
This module appears in:
Method of assessment
- Business plan - 4000 words (100%)
Williams, S. (2013). The Financial Times Guide to Business Start Ups. 26th edn. London: Pearson
Burns P. (2014). New Venture Creation. Palgrave MacMillan: Hampshire
Butler D. (2000). Business Planning a guide to business start-up. Oxford: Butterworth
On completion of the module students would 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 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.