Entrepreneurial Practice
| Module title | Entrepreneurial Practice |
|---|---|
| Module code | BEMM221 |
| Academic year | 2019/0 |
| Credits | 30 |
| Module staff | Mr Adam Lusby (Convenor) Mr Raphael Dennett (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 1 | 2 | (10 hours supervision) |
| Number students taking module (anticipated) | 30 |
|---|
Module description
This module centres on the pragmatic application of your entrepreneurial knowledge and skills through a live project that entails the ‘virtual’ creation of either A) New venture project or B) Business growth project. This can be a new venture creation or you can work on new ventures within an existing business such as a family business. It gives you the opportunity to practice entrepreneurship in a very real way. The fluid nature of this module allows academic learning followed by individual application of new venture processes within one learning framework.
In developing your new venture, this module will take you from idea to launch. It is designed to move you through the phases of startup from validation, MVP (minimal viable product), to test and iterate towards market fit. We are interested in creating great businesses and we know they take time and dedication, we will therefore support you through this journey. We will ensure you have the know-how to lead, shape, maintain, and develop an entrepreneurial organisation to continue fast business growth well into the future.
Module aims - intentions of the module
In a ‘workshop’ environment, the aim of this module is to practice entrepreneurship giving you the opportunity to apply your newly developed knowledge and skills in a ‘virtual’ startup/new venture (within an existing business) context, thus grounding your newly gained capabilities. This will bring theory to life and create valuable practical learning that will equip you for your post programme entrepreneurial career.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. create a virtual new venture in the form of a startup or within an existing organisation
- 2. develop a credible and informed business plan for a new venture or business growth project
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. identify key strategies for idea creation/opportunity recognition, evaluation and exploitation
- 4. utilise Business Model Generation strategies and techniques
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. think creatively to generate potential new venture ideas and creative solutions to new venture or business growth challenges
- 6. collaborate, communicate, co-create, and network
- 7. create, develop, and execute an entrepreneurial initiative
Syllabus plan
New venture project or business growth project:
- Project Workshop One: Creativity and Idea Generation
- Project Workshop Two: Reducing uncertainty: Validation
- Project Workshop Three: Gaining legitimacy
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 58 | 242 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Workshops | 48 (6 x 8) | Pragmatically creating a new venture (virtual): 1. Creativity and Idea Generation 2. Reducing uncertainty: Validation 3. Gaining legitimacy |
| New Venture Project or Business Growth Project: Support | 10 | Small group guidance to support NVP or BGP |
| Independent study and assignment | 242 | Individually creating a virtual startup or new venture within an existing organisation, culminating in a business plan |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Workshop exercises and discussions | In class (Approximately per day = 60 minutes) | 1 - 7 | Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Individual Business Model Canvas Proposition | 15 | 1,500 words | 1,3,4,5 | Written |
| Individual Pitching the New Venture | 15 | 15 minute individual pitch | 5,6 | Verbal and Written |
| Individual Business Plan | 70 | 7,000 words | 2,3,7 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Individual Business Model Canvas Proposition | Individual Business Model Canvas Proposition 1,500 words | 1,3,4,5 | August resubmission period |
| Individual Pitching the New Venture | Individual Pitching the New Venture 15 minute individual pitch | 5,6 | August resubmission period |
| Individual Business Plan | Individual Business Plan 7,000 words | 2,3,7 | August resubmission period |
Indicative learning resources - Basic reading
Ries, A (2011) The Lean Startup, Portfolio Penguin. ISBN-13: 978-0670921607
Ostendwalder A., and Pigneur Y. (2010) Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. John Wiley & Sons. ISBN-13: 978-0470876411
Ostendwalder A., and Pigneur Y (2014) Value Proposition Design: How to Create Products and Services Customers Want John Wiley & Sons. ISBN-13: 978-1118968055
Blank S and Dorf B (2012) The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company, K & S Ranch. ISBN-13: 978-0984999309
Ries, A (2013) The Startup Way, Portfolio Penguin, ISBN-13: 978-0241197240
| Credit value | 30 |
|---|---|
| Module ECTS | 15 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 7 |
| Available as distance learning? | No |
| Origin date | 17/01/2019 |
| Last revision date | 26/02/2019 |
