New Venture Development

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• evaluate the significance of intellectual property in the business idea and take appropriate measure to protect the idea if necessary;
• evaluate the importance of intangibles in the creation of a successful business.
• evaluate and apply appropriate theoretical concepts, models, frameworks, tools and techniques to assess the feasibility, or otherwise, of a new venture idea;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• use a wide range of information sources requiring the development of bibliographic skills including the use of CD-ROMS and the Internet;
• communicate effectively, in both oral and written form, using and justifying argument within reports, presentations and debates.
• plan and control effectively for successful completion of a personal workload;

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the identification and development of a potential business idea from your own knowledge/experience base;
• the role of investment in new venture creation.
• the development of ideas through to feasible business opportunities;
• key issues concerning the feasibility, or otherwise, of business ideas, such as intellectual property, risk, emergent markets;
• the importance of planning in new venture creation;

• Developing ideas for business - the importance of planning and strategy.
• The feasibility analysis: overview and key dimensions.
• Researching the market - tools and techniques.
• Intellectual property issues - patents, trademarks and brands.
• Strategies for assessing and managing risk.
• Positioning products in emergent markets, entrepreneurial marketing.
• Assessment of competition.
• Building management teams and working relationships.
• The role of external agencies.
• Financing the venture.
• Elevator pitches for assessment.
• Business idea development in practice - preparation of a credible business plan.

Teaching and learning methods

The teaching methods are primarily the lecture and seminar. Student participation, small group activities, short case studies and other teaching methods will be integrated in the lectures as warranted. Lectures will be supported by activity-based seminars and will include the use of videos, case studies, and guest speakers.

Resources & Reading list

Textbooks

Burns, P. (2017). New venture creation: A framework for entrepreneurial start-ups. Palgrave.

Barringer, R.B. and Ireland, R.D. (2006). Entrepreneurship: Successfully launching new ventures. Pearson.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External