| Module Code | BM 340 |
| Module Title | Entrepreneurship & New Ventures |
| Academic level | Level 3 |
| Credit value | 5 |
| Instruction | English |
| Pre-requisites | --- |
| Co-requisites | --- |
|
Rationale for Module |
With the growth of the role of small business in
the economy, new businesses ventures have become increasingly important
as far as government policies are concerned. They are seen as a major
source of growth and employment, and policies have been regularly
adapted to support new businesses and develop existing ones. Such
companies are seen as an integral part of the study of contemporary
business. Having established their growing importance, it is important
to understand the characteristics of start-ups and small businesses.
They are not scaled-down versions of large firms. Smallness has its own
culture, resource problems, interface with its environment and, hence,
management issues. Setting up in the market place, surviving and growing
has its own set of strategic and operational aspects which is often tied
to the uniqueness of individual entrepreneurs rather than the rational
systems of large organisations. The benefits of this module as a learning experience to the future careers of the students are twofold. Firstly, setting up in business is increasingly recognised as a legitimate career objective. Students may have already pre-empted this by starting up or preparing to start up their own businesses. Secondly, the changing nature of corporate life sees the process of producing a business plan centred on a real business concept as a desirable and relevant experience even if students do not go into business on their own. The business plan project develops skills and reflective learning experiences through a team based activity chosen, managed and measured by students with staff largely acting in advisory and support roles. The ownership, motivation and management of a difficult process develop the skills and competencies that employers are increasingly looking for in graduate recruitment. The role of the entrepreneur is essentially holistic: the process of planning and management draws heavily on knowledge and understanding in other modules, particularly those concerned with strategy, marketing and finance. |
| Aims |
This module aims to: 1. Develop understanding of the nature of entrepreneurship and an understanding of how small firms develop, grow, and the role of the entrepreneur changes 2. Provide students with knowledge of the sources of information and finance available to new ventures and of the functional management skills necessary to start and grow a business 3. Develop students’ ability to identify, research and explore the nature of an opportunity in the context of a dynamic market |
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