New Venture Development

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• evaluate and apply appropriate theoretical concepts, models, frameworks, tools and techniques to identify entrepreneurial opportunities;
• evaluate and apply appropriate theoretical concepts, models, frameworks, tools and techniques to assess the feasibility, or otherwise, of a new venture idea;
• evaluate the importance of intangibles in the creation of a successful business.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• contribute successfully as a group to the pitch presentation.
• 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;
• use a wide range of information sources requiring the development of bibliographic skills;

Knowledge and Understanding

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

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

Introduction to the entrepreneurial process/phases of new venture development - Developing ideas for business – Introduction to design thinking - Feasibility analysis: overview and key dimensions. – Business models for different types of ventures – Formulating a value proposition - Intellectual property issues - Building entrepreneurial teams and working relationships - 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

Stutely, R. (2012). The definitive business plan: The fast track to intelligent planning for executives and entrepreneurs.. Pearson.

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

Barringer, R.B. and Ireland, R.D. (2021). 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