BSc Pharmacology with Industrial/Professional Experience / Course details

Year of entry: 2024

Course unit details:
Advanced Technology Enterprise

Course unit fact file
Unit code MCEL30011
Credit rating 10
Unit level Level 3
Teaching period(s) Variable teaching patterns
Available as a free choice unit? Yes

Overview

The unit aims to:

1. Allow students to understand and develop the necessary skills to produce a proposal to support a major project within an organisation or a business plan for a new start-up.

2. Introduce essential business finance and business risk management tools.

3. To explore resources required to form, develop and grow a business or a product line within a business.

4. To encourage students to think entrepreneurially as an essential component of their personal development.

 

Aims

The unit aims to:

1. Allow students to understand and develop the necessary skills to produce a proposal to support a major project within an organisation or a business plan for a new start-up.

2. Introduce essential business finance and business risk management tools.

3. To explore resources required to form, develop and grow a business or a product line within a business.

4. To encourage students to think entrepreneurially as an essential component of their personal development.

 

Syllabus

This unit investigates the process of establishing and growing a business and the process of developing a new project within an organisation.

Emphasis is given to the essentials of financial management and risk management in a business or project, such as the research and development of a new product or service introduction. Attention is given to the process of identifying and using information concerning resources required for the proposed business activity.

Topics Include

  • Adding Value – How is value created by a company – linking your subject area with the commercial world
  • Financial Statements – Cash Flow, Profit and Loss, Balance Sheet and what we can learn form them
  • Diagnosing financial problems and what we can do about it – Break Even and Ratio Analysis
  • Controlling costs and lean start-up
  • Sources of Funding – From Banks, Venture Capital, Grants to Crowdfunding
  • Risk – Financial implications of risk
  • Exit Strategies for owners and equity investors
  • Growing a Business

There is a consultancy session where you can get feedback about your assignments from the lecturer

 

Teaching and learning methods

The full range of contemporary methods will be used for the delivery of this module including creation of financial statements, the use of case studies, evaluation exercises etc. This programme will be supported by material on Blackboard including online financial exercises, supporting material, unit handouts, assignments other audiovisual resources that may be of interest to the students.

 

Knowledge and understanding

A1 Explain the essential elements of good business strategies and planning

A2 Describe how business risks are identified and managed

A3 Explain how to create and use the main tools of financial management

A4 Identify and explain the main issues in developing and resourcing a plan to meet given objectives

A5 Describe and explain alternative ways in which organizations may operate and develop

Intellectual skills

B1 Recognise what constitutes effective business/project planning

B2 Design and evaluate basic strategies to meet a given set of objectives

B3 Identify and assess business risks and describe how they may be managed

B4 Compile and manipulate financial statements, cash flow, balance sheet, profit and loss.

B5 Propose a workable plan that could be used to implement a given strategy

Practical skills

C1 Use software tools and packages to research, plan and present information

Transferable skills and personal qualities

D1 Identify, gather and process information from a variety of sources

D2 Utilise problem solving skills and apply to “real world” examples

D3 Utilise IT to aid decision making

D4 Develop, structure and communicate ideas effectively

D5 Develop commercial awareness

Employability skills

Other
The unit attempts to link the students subject area with businesses in that field. Employers frequently report that while students are knowledgeable about their subject area they find it difficult to apply in commercial situations . The course attempts to get students thinking about the financial side of their subject area in particular linking adding value and innovation with financial realities. Previous students have reported this type of unit being useful when they have started employment.

Assessment methods

Assessment taskLengthWeighting within unitDeadlines for submission of courseworkDeadline for return of feedback

Verbal discussion of the topic selected for brief feedback

There is also time set aside for assignment feedback before the hand in date

Discretionary

n/a

Week 1-5Week 5
Assignment2000 words

100%

Week 11Before exams

 

Feedback methods

  • Formative feedback is the feedback given to help you to develop and improve with the unit of study. Understanding the calculations in the formative feedback exercise will help you with creation of the financial spreadsheets.

    In this unit, there will be consultancy meetings with the lecture to get feedback on your work before it is submitted.

    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 that contribute to the final mark for the unit

    Summative feedback for assignments is provided via Blackboard. 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.

 

Recommended reading

Reading References

Main Texts

Throughout the unit the students will be referred to several online resources which they will be expected to read. Additional help can be found in the following texts:

“Accounting and Finance for Non-Specialists”, Peter Atrill and Eddie McLaney, Published by FT Prentice Hall (copies available in the library).

“Accounting a Smart Approach”, Marey Carey, Cathy Knowles, Jane Towers-Clark, Published by Oxford University Press

“Costing & Reports”, David Cox and Michael Fardon, Osborne Books

“Financial Management for the Small Business”, Colin Barrow, Published by Kogan Page

Additional References

“Small Business Management, an entrepreneurial emphasis”, JG Longenecker, CW

Moore, JW Petty, South Western College Publishing

“The Business Plan Workbook”, Colin Barrow, Paul Barrow, Robert Brown, Published by Kogan Page

“Strategic Entrepreneurship – A Decision Making Approach”. Philip Whickham, Published by Prentice Hall

“Entrepreneurship”, David Kirby, McGraw Hill

“How to Master Finance”, T Gasking, Published by Kogan Page

 

Study hours

Scheduled activity hours
Lectures 24
Independent study hours
Independent study 76

Teaching staff

Staff member Role
Robert Phillips Unit coordinator

Additional notes

This unit runs in both semester one and semester two. Please choose only one semester in which you wish to take this unit.

For Academic Year 2024/25

Updated: March 2024

Approved by: March UG Committee

 

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