Creating Your Own Enterprise - CB742

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2021 to 2022
Medway
Autumn 6 15 (7.5) MR A Smith 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

Details

Contact hours

Total contact hours: 22
Private study hours: 128
Total study hours: 150

Method of assessment

Business Plan (3000 words) (80%)
Individual presentation (5mins) (20%)

Reassessment method: 100% coursework

Indicative reading

Core textbook:
Williams, S. (2013). The Financial Times Guide to Business Start Ups. 26th edn. London: Pearson

Further indicative readings:
Burns P. (2014). New Venture Creation. Palgrave MacMillan: Hampshire
Butler D. (2000). Business Planning – a guide to business start-up. Oxford: Butterworth

See the library reading list for this module (Medway)

Learning outcomes

The intended subject specific learning outcomes:
- 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:
- 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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