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
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
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)
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.
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Credit level 6. Higher level module usually taken in Stage 3 of an undergraduate degree.
- ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
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