Description
Starting a new business venture is more than simply identifying a good idea. To be able to find sources of funding for that idea involves creating a credible business plan. This includes an evaluation of that idea, assessing risks and uncertainty, identifying potential markets, developing efficient and effective operational processes, ensuring you have a Unique Selling Point (USP) and determining whether you make a profit from the venture on the price you can charge. Each week you will take an idea of your choice and gradually build this into a compelling business plan that can be used to explain the new idea to your superiors within a business or an external financier.
Aims
The aim of this module is to develop an understanding of entrepreneurial skills and abilities necessary to take an opportunity and maximise its success factors and minimise the risks involved. In addition, to develop and understand the analytical processes involved in creating a New Business Venture.
Learning Outcomes
By the end of this module the student should be able to:
- Recognise and develop an entrepreneurial mindset through exploring tools and techniques, including self-reflection, lateral thinking, idea creation, refinement, and prototyping.
- Apply Entrepreneurial and Business theories and concepts in order to create a feasible Business Plan
- Critically analyse and evaluate the processes for investigating business development opportunities.
Indicative Content
1 Entrepreneurial Mindset
The Entrepreneur: Concepts and evidence. The nature characteristics and behaviour of the Entrepreneur. Entrepreneurship, Effectuation, Motivation and Leadership
2 New venture planning organisation and creation
The Lifecycle stage of new business development. The planning process. Organisation of new ventures.
3 Developing New Business
Creating, identifying and evaluating new venture opportunities; fundamentals of market research; concept and role of the marketing function and identifying a Unique Selling Point(USP).
4 Developing a Business Approach
Feasibility studies and risk reduction; global start-ups, acquisitions and franchising. Leadership and motivation; vision and objectives; resources and relationships.
5 Entrepreneurship and corporate development
Adapting organisational design. Marketing the organisation. Managing growth and expansion.
6 Building a Business Plan
Writing a sustainable Business Plan that sets targets and is feasible to potential investors.
| Teaching and Learning Method | Hours |
|---|---|
| Lecture | 0 |
| Tutorial/Seminar | 0 |
| Supervised Practical Activity | 0 |
| Unsupervised Practical Activity | 30 |
| Assessment | 40 |
| Independent | 80 |
Guidance Notes
SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.
Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.
Disclaimer
We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2024/5, and may be subject to change for future years.