| Unit name | Entrepreneurship and Innovation |
|---|---|
| Unit code | EFIMM0155 |
| Credit points | 30 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2D (weeks 19 - 24) |
| Unit director | Dr. Wang |
| Open unit status | Not open |
| Pre-requisites |
none |
| Co-requisites |
none |
| School/department | School of Management - Business School |
| Faculty | Faculty of Social Sciences and Law |
Pathway unit for MSc Management (Entrepreneurship and Innovation)
The business world is changing rapidly and new technologies are creating not only new companies but entirely new ways of working. Therefore, entrepreneurship is very much a current theme in our life. Small start-ups are disrupting established businesses and established companies are trying to innovate new products and service to remain relevant and retain market shares.
This module is designed for students who wish to spot and seize opportunities, develop the skills and techniques to develop and test a new business idea. It covers methods for creating and capturing values by selecting technology, customer segment and entrepreneur’s identity. The course introduces frameworks to assess and choose appropriate entrepreneurial strategy to launch new businesses. It also introduces some techniques such as strategic learning and experimentation to sustain and scale up new ventures.
The class is highly interactive. For readings, consider the choices the entrepreneurs must make that can be informed by the argument or evidence in the article, and how you might utilize key insights in practice. For cases, identify the key choices facing the protagonists, evaluate alternative approaches to these problems (including what additional information you might need to gather to make a clear decision), and think about the course of action you would recommend and why. Group work (and study groups) are critical; effective group cooperation is crucial to a valuable class experience.
Students successfully completing the unit will be able to:
ILO 1. Describe the theory and practice of setting up an enterprise
ILO 2. Synthesize frameworks, tools, techniques and skills to develop a robust business plan in dynamic environment
ILO 3. Apply strategic thinking to create a sustainable and successful enterprise
ILO 4. Balance the process of experimentation and learning inherent to entrepreneurship with the selection and implementation of a strategy to establish competitive advantage
ILO 5. Formulate and organise the capabilities and knowledge needed to scale ventures over time
Students will also develop their transferable skills including:
ILO 6. Working as a team to develop ideas
ILO 7. Time management
ILO 8. Presenting and storytelling
ILO 9. Pitching ideas and defending the business plan to potential investors
The course combines interactive lectures, workshops, case analyses, and direct engagement with start-ups. The course draws on a rapidly emerging body of research and practice in entrepreneurship, strategy, and economics that moves beyond the “one size fits all” approach to start-ups and instead focuses on the key choices that founders face as they start and scale their business. The cases and interactive activities offer an opportunity to integrate and apply the theory and framework in a practical way, and draws from a diverse range of industries and settings.
Contact hours: 45
Formative Assessment:
Constructive criticism and advice are critical to all new and emerging ventures so we provide it as an ongoing feature of this module. Each week you will be expected to report back on the progress you’ve made since the previous session, discussing ideas, developments, opportunities, research conducted, and tests completed. This might include producing rough drafts of elements of the plan, workbook or pitch. Whilst tutors will not review drafts of the whole documents, they may review high level elements of work on a rolling basis.
Summative Assessment:
The purpose of the assessed assignment is to enable the group to develop and present a business plan in a realistic situation. The report should cover all the critical elements of a business plan and be set out as if it were a real plan seeking support or investment. There are two main summative assessments: An investor pitch (20% of final mark) and a business plan portfolio (80% of final mark).
For the investor pitch, each student will deliver a short (10 minute) pitch. Students need to highlight the key points in their business plan which they feel have particular merit and will give them an advantage over others competing for funds. They can choose appropriate technology such as PowerPoint or Poster to help their presentation. The maximum time of each presentation is 10 minutes, with an additional 5 minutes available for Q&A. (ILO 1, ILO 3, ILO 6, ILO 7, ILO 8 and ILO 9)
In terms of the business plan portfolio, it should be no more than 4000 words and provide comprehensive coverage of all the critical components of a business plan for a start-up. These include product/technology description, business model, customer segment, marketing strategy, financial plans and projections, funding strategies, innovation strategy. The business plan should be written in structured form with concise language and effective visual representation of information (diagrams, charts, tables, graphs etc.). Supporting material such as references and additional data should be placed in appendices to provide additional detailed information. (ILO1, ILO2, ILO3, ILO 4, ILO 5, ILO 6 and ILO 7)
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIMM0155).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the Faculty workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an
assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
