MSc Innovation Management and Entrepreneurship / Course details
Year of entry: 2024
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Course unit details:
Business Creation and Development
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 2|
|Available as a free choice unit?||No|
Syllabus and Teaching Schedule
The unit provides students with the opportunity to apply critical thinking to a real life business case study through application of analytical tools and techniques. Teaching of the unit will be delivered through lectures and workshops across three key phases
Phase 1: Business Development Process and Problem Identification Refresher on business plans and planning
Challenges facing early-stage ventures Business Development Process Diagnosing business problems
Phase 2: Strategic Analysis and Creating a Vision for the Future Refresher on strategic analysis
Data collection methods
Mapping the business eco-system and identifying business contexts Business roadmaps
Scenario creation and visioning methods Assumptions and hypothesis testing
Phase 3: Developing a Strategy for Business Development Strategic Develop Framework
Setting objectives and developing a strategy Creating action plans
Lean approach to business development Risk identification and management
Financing and resourcing a plan for development
Provide the student with real experience of the processes and activities involved in setting up and developing a new venture.
Knowledge and understanding
A1. Recognise the principle activities that need to be considered and addressed when developing an effective business plan tailored to your client's needs
A2. Prioritise the strategic issues to be investigated in depth for a given client business so as to increase options and to improve decision making when developing a business plan for that client
B1. Collate and utilise relevant contextualised information so as to improve decision making, critically evaluate business opportunities, formulate objectives, determine
strategies and plan actions
B2. Validate assumptions through the creation and structured testing of hypotheses related to the creation and development of an early stage business.
C1. Undertake an in-depth strategic analysis of an organisation in order to gain a sufficiently comprehensive, critical and holistic appreciation of the context prior to developing an optimised business plan for a client business
C2. Develop an actionable business plan which covers deliverables, resource needs, and risks for use by a client to develop their business
Transferable skills and personal qualities
D1. Develop, evaluate and propose creative solutions to challenging and complex problems that take account of stakeholder requirements and values, resource constraints and availability, and external barriers, risks and threats
D2. Make decisions in situations of ambiguity, uncertainty and risk based on active experimentation, reflection and sense-making
Teaching and learning methods
10 X 1 hour lectures and 10 x 2 hour workshops.
Student activities - PBL extra class work - Course delivery is through a mixture of lectures, case study work, in class discussion and participation in a group project working with an external company.
Individual Critical Reflection 60%
Group Summative Assessment 40%
Formative feedback is the feedback given to help you to develop and improve with the unit of study. In this unit, a formative work assessment is marked and comments are returned to you either in hand-written form or via blackboard.
Additional formative feedback is available to you through the following means
Attending lectures, joining discussions about case studies and doing short work tasks set within the lecture session.
Your lecturer will reply to brief individual questions at the end of each lecture session, if there are a few minutes to spare.
Your lecturer will provide brief replies to your e-mailed enquiry.
Your lecturer may feedback messages to the whole class via Blackboard if the point that you have raised could be of benefit to the whole class.
Summative work is any course assessment and exams that contribute to the final mark for the unit.
Summative feedback for assignments is written on an individual feedback sheet. Feedback will be available via BB9. You may e-mail the lecturer to ask for further feedback and they might raise the point in the next lecture, reply to you or invite you to attend a brief one to one feedback meeting.
There are two opportunities for formal formative feedback, one for the individual assignment and one for the group work. These are both described in the coursework handbook.
• "The Definitive Business Plan: The Fast Track to Intelligent Planning for Executives and Entrepreneurs", Stutely, R (2012), Financial Times/ Prentice Hall, ISBN-13: 978- 0273761143
• "Business Development: A Market-oriented Perspective", Sørensen, H. E. (2012), John Wiley & Sons, ISBN-13: 978-0470683668
• "The Seven C's of Consulting: the definitive guide to the consulting process", Cope, M. (2003), Financial Times/Prentice Hall, ISBN-13 978-0-273-66333-1
• "The Lean Startup", Ries, E (2011) Portfolio Penguin, ISBN-13: 978-0670921607
• "The complete guide to Business and Strategic Planning for Voluntary Organisations", Lawrie, A (2007), Directory for Social Change, ISBN-13: 978-1903991701
• "Developing New Business Ideas", Bragg, A. & Bragg, M (2005), Prentice Hall, ISBN-13: 978- 0273663256
• "The Strategic Planning Workbook", Lake, N (2006), Kogan Page, ISBN-13: 978- 0749445096
• "Small Business Management and Entrepreneurship", Stokes, D & Wilson, N (2010), Cengage Learning Business Press, ISBN-13: 978-1408017999
• The Guide to Business Finance - what smart managers do with the numbers", Stutely, R. (2007) Prentice Hall, ISBN-13: 978-0273-71095-0
|Scheduled activity hours|
|Independent study hours|
|Adam Frost||Unit coordinator|
Informal Contact Methods
10-12am every Wednesday during term time, or book an appointment via e-mail