Creating Your Own Enterprise - CB742

Location Term Level Credits (ECTS) Current Convenor 2017-18 2018-19
Medway Autumn
View Timetable
6 15 (7.5) PROF MA Garcia Martinez

Pre-requisites

CB714 Marketing Principles and CB330 Fundamentals of Financial Accounting

Restrictions

None

2017-18

Overview

The 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.

Details

This module appears in:


Method of assessment

100% coursework:


  • Business plan - 4000 words (100%)

Preliminary reading

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

See the library reading list for this module (Canterbury)

See the library reading list for this module (Medway)

Learning outcomes

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.

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