MGMT09010 2019 Business Management and Entrepreneurship
This subject takes a potential entrepreneur through the process of starting a business, from first thoughts about self-employment to the practicalities of start-up. The student will be required to generate a new Business Plan for a start-up business.
For those students already in employment, this module will focus on 'intrapreneurship'. Intrapreneurship is the process by which companies seek to maintain their competitive edge in innovation and profit by asking employees to spawn new businesses within their company. This module would provide the student with a greater understanding of what it would take to run a particular aspect of the company, perhaps a new product line, department or subsidiary.
Key reasons major corporations encourage intrapreneurship are:
·Technology and globalisation are increasing competition. Companies that can pounce quickly on new opportunities will have an advantage over slower competitors.
·A recent McKinsey report shows that a company's chances of holding on to a top position are fading. The key player in any industry will have a tougher time holding onto the top spot now more than ever. Leaders must become flexible and entrepreneurial.
•Employee loyalty is ending. If employees feel their great idea would be better received by the competition, they will leave more quickly than ever before. Take, for example, the case of Palm. The company grew large; it started stifling intrapreneurship, and the founders left to start Handspring. Then Palm realised its mistake and purchased Handspring back at a huge cost.
Topics to be addressed include:
- What makes a good entrepreneur / intrapreneur?
- Developing a strategy
- Market Research, Marketing & Advertising
- Financial support
- Preparing budgets and cash flow statements
- How to generate a business plan
- How to present your plan to potential investors
It is not required that the proposed new business will be taken any further than the end of the academic year. The marking criteria will take into account how innovative the idea is, that the plan is realistic (potential sales, market share, market research, financial projections) and that students have addressed the main issues including staffing, funding, and route to market.
Note: Guest lectures from industry and government agencies will be utilised on this course.
On completion of this module the learner will/should be able to;
Prepare a Market Research and Feasibility Study for a new manufacturing or service business
Develop a Strategy, Mission Statement and Vision for the new business.
Identify the optimum business and legal structure and manage Intellectual Property requirements for the new business
Generate financial statements, operating budgets and cash flow statements.
Integrate all of the above items in order to prepare and present the business plan to a group of potential investors, state agencies and financiers
Teaching and Learning Strategies
The online teaching and learning strategy will follow the guidelines as developed by Quality Matters: http://www.qmprogram.org/
Unique to the Quality Matters Rubric is the concept of alignment. This occurs when critical course components - Learning Objectives (2), Assessment and Measurement (3), Instructional Materials (4), Learner Interaction and Engagement (5), and Course Technology (6) - work together to ensure students achieve desired learning outcomes.
Module Assessment Strategies
Business Plan Assessment Criteria
1) Project Concept - is the proposed product/service innovative or an import substitution. Is it feasible and is there a market for it?
2) Planning and Projections - has the market been thoroughly researched and potential competitors identified? Have the capital investment and operational cash requirements been identified and estimated realistically?
3) Professionalism of Approach - have all aspects of the business been fully considered and are the necessary practical skills in place to deliver on the concept?
4) Presentation - is the submission presented clearly, in an easy-to-read format?
This subject provides practical relevant information in management, entrepreneurship and intrapreneurship. It takes a student through the process of starting a business.
The course covers the steps necessary to develop a business plan, including the mission statement, strategy, marketing, staff, finance, taxation and premises, and presenting the business plan.
Syllabus Content: Market Research, Competitiveness, Feasibility studies, Business plan, Accounting, Operating budgets, Cash Flow, Quality, Taxation, Assistance - State Agencies, Employment Contracts, Intellectual Property, Trading Laws, Innovation, Entrepreneurship and Intrapreneurship.
- Completion of Checklists, flowcharts and questionnaires on Management & Entrepreneurship
- Conduct Market Research analysis
- Generation of Cash Flow Statements
- Generation of Production and Capital Expenditure Plans
- Various practicals to include costing, production planning, quality, facility layout and capital expenditure requirements.
- Generation of Operating Budgets
- Completion of Business Plan document.
- Presentation of Business Plan
Coursework & Assessment Breakdown
|Learning Outcomes Assessed
|Outline Business Plan (brief preliminary document)
|Full Business Plan Submission
|End of Semester
Online Learning Mode Workload
|Distance Learning Suite
|Workshop / Seminar
Starting Your Own Business, 6th Edition. ISBN 9781904887379
Oak Tree Press
Gazely , Alicia Lambert, Michael
Management Accounting, ISBN-10: 1412918847
Sage Publications Ltd
The Design of Everyday Things
The MIT Press
Dragons or Angels
Listed on Moodle course site
Listed on Moodle course site
Listed on Moodle course site