Module Information
Module Identifier
MMM7920
Module Title
ENTREPRENEURSHIP
Academic Year
2012/2013
Co-ordinator
Semester
Semester 2
Other Staff
Course Delivery
| Delivery Type | Delivery length / details |
|---|---|
| Lecture | 10 x 4 hours |
| Seminars / Tutorials | 5 x 2 hours |
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Assessment | 3,000 word group project | 20% |
| Semester Exam | 3 Hours | 80% |
| Supplementary Assessment | Repeat failed elements or equivalent | 20% |
| Supplementary Exam | 3 Hours Repeat failed elements or equivalent | 80% |
Learning Outcomes
On successful completion of this module students should be able to:
Assess a range of different theoretical approaches to entrepreneurship including the economic, social and psychological perspectives
Critically evaluate the importance of small businesses in the wider economy, especially their role in creating employment and innovation
Identify and discuss the main problems associated with running a small business in terms of employee relations, marketing and financial control
Reflect on the causes and extent of small business failure
Create a business plan for a new venture and make a presentation to a panel of investors
Discuss the assumptions that underpin the government’s support to small businesses
Apply one or more of the theoretical approaches to a case study presented in the module
Develop personal skills including team building and presentation skills
Content
The Economic Context of Small Business: the small firm in the economy; economic importance; comparative analysis of attitudes and approaches to small business in the UK, USA and Europe.
Entrepreneurship: Theories of Entrepreneurship; Motivations toward the formation of small businesses; Research findings on entrepreneurship and their practical implications; A comparison of male and female entrepreneurs.
Financial Management. Developing the business idea and formulating the business plan; Raising funds; Forms of financing; Controlling the enterprise; Budgets; Information systems for planning, decision making and control.
Marketing in the Small Firm: Importance of marketing to the Small Firm; The role of the marketing mix, market segmentation, market research; Problems of marketing in the small firm; Advantages of being ‘small’ in a marketing context.
Management in the small firm: Traditional small firm stereotypes; the entrepreneur as a manager; the employee in the small firm;
The Role of Government and Small Business in the UK: Taxation as an incentive/disincentive; Government and regional policy perspectives; The success of government support/assistance; The role of the EC.
Establishment, Growth and Business Failure: Problems of the developing small business. The management of human resources and the organisation structure. Motivation for expansion, Organic vs. acquisition led growth. Business failure – causes and prediction.
Entrepreneurship: Theories of Entrepreneurship; Motivations toward the formation of small businesses; Research findings on entrepreneurship and their practical implications; A comparison of male and female entrepreneurs.
Financial Management. Developing the business idea and formulating the business plan; Raising funds; Forms of financing; Controlling the enterprise; Budgets; Information systems for planning, decision making and control.
Marketing in the Small Firm: Importance of marketing to the Small Firm; The role of the marketing mix, market segmentation, market research; Problems of marketing in the small firm; Advantages of being ‘small’ in a marketing context.
Management in the small firm: Traditional small firm stereotypes; the entrepreneur as a manager; the employee in the small firm;
The Role of Government and Small Business in the UK: Taxation as an incentive/disincentive; Government and regional policy perspectives; The success of government support/assistance; The role of the EC.
Establishment, Growth and Business Failure: Problems of the developing small business. The management of human resources and the organisation structure. Motivation for expansion, Organic vs. acquisition led growth. Business failure – causes and prediction.
Brief description
This module looks at entrepreneurship from both a theoretical and a practical perspective. A major component of the module is the development of a new business idea in the form of a business plan. This business plan is prepared in groups and presented to a team of investors.
The aim of this module is to familiarise students with the concepts of entrepreneurship and the process of establishing and running a small business. It also attempts to indicate the importance of the small business sector in the economy and looks at government initiatives designed to support entrepreneurship. The module also looks at the skills necessary to run a small business including HR management, and marketing, as well as the characteristics of the entrepreneur. Sources of finance including bank lending and venture capital are introduced.
The aim of this module is to familiarise students with the concepts of entrepreneurship and the process of establishing and running a small business. It also attempts to indicate the importance of the small business sector in the economy and looks at government initiatives designed to support entrepreneurship. The module also looks at the skills necessary to run a small business including HR management, and marketing, as well as the characteristics of the entrepreneur. Sources of finance including bank lending and venture capital are introduced.
Module Skills
| Skills Type | Skills details |
|---|---|
| Application of Number | • Develop an easy familiarity with numerical data sources and numerical data • Apply numerical data to problem solving with care and accuracy • Assess the reasonableness of and interpret numerical solutions • Support assertions/arguments with appropriately developed and presented numerical data • Calculate and use descriptive statistics |
| Communication | • Develop confidence in and clarity of oral communication via: o tutorial participation o project team group discussions • Develop clarity and focus of written communication via: o group project production o development of answers to self study questions • Develop and use appropriately subject-specific vocabulary in oral and written communication |
| Improving own Learning and Performance | • Identify and distil the key issues covered by lectures, tutorials and self study • Identify and use a range of learning resources • Investigate benefits of small group working on self study • Structure study to accommodate intensive learning |
| Information Technology | • Use a variety of electronic web- and library-based resources to review available information and retrieve pertinent information • Use various software packages for the production of the group project report (text, numerical tables and analysis, graphics) • Use software to complete elements of the self study (e.g., spreadsheets for ease of tabulated numerical calculations, production of summary statistics, production of graphs, etc.) |
| Personal Development and Career planning | • Develop skills in financial analysis and decision making which are essential to the aspiring general manager • Identify possible entrepreneurial opportunities |
| Problem solving | • Identify the precise problem to be solved • Assess which data are pertinent to the problem • Recognize that alternative solution methods might be available • Select and apply appropriate methods for solving the problem • Assess the reasonableness of problem solutions and interpret those solutions |
| Research skills | • Identify which information sources are available to: o facilitate module study (understanding, wider reading) o provide information to facilitate the analysis of business performance and prospects o provide raw input to the production of the group project • Select the most pertinent information for retrieval • Retrieve information • Re-assess the pertinence and assess the credibility of retrieved information • Properly reference/attribute information sources |
| Subject Specific Skills | • Prepare a business plan including market research and financial forecasts • Understand the concept of entrepreneurship and related topics including the small business sector and government support. • Bring financial analysis and decision making skills to the development of a new venture – in strategizing, marketing, operating, etc. |
| Team work | • Develop experience of team work and develop team working skills via group project |
Notes
This module is at CQFW Level 7