Postgraduate Course: The Entrepreneurial Challenge: Creating a New Venture (CMSE11159)
||College||College of Arts, Humanities and Social Sciences
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
||Availability||Not available to visiting students
|Summary||The aim of the course is to enhance participants' understanding of the role of the entrepreneur in the new venture creation process; develop their capabilities to recognise, assess and articulate new venture opportunities; to gain insights into resources required to underpin venture development and growth and how to access these resources; to assess longer term strategic options for growth and for 'harvesting' the venture.
The course also seeks to develop a greater awareness of their personal goals, motivations, strengths and limitations in the context of venture creation and growth, particularly in the context of forming new ventures or joining a new young venture. The course provides opportunities for students to learn from each other, from practitioners in the field and from the latest theories/concepts on the topic. The course requires students to work in groups to create a coherent and viable business concept which will be presented to an external panel in the last class session. Whilst the frameworks and concepts learned are applicable in a start-up venture situation, most are as applicable when identifying and developing new activities within a larger organisational setting.
New venture creation and the Feasibility Study
The Business Idea: Opportunity recognition and evaluation
Industry and Competitor analysis, developing an effective business model
Operationalising and resourcing the business; accessing support
Finalising the plan and pitching it to potential investors
Student Learning Experience:
This course provides students with the opportunity to develop a deeper theoretical and practical understanding of the new venture creation process and the role which the entrepreneur plays within that process. Working in groups, students are required to apply that knowledge through development of a new venture plan where the group identifies a new venture opportunity and develop a business plan for the exploitation of that opportunity. The group pitches that opportunity to a panel of business experts at the end of the course.
Entry Requirements (not applicable to Visiting Students)
||Other requirements|| For Business School PG students only, or by special permission of the School. Please contact the course secretary.
Course Delivery Information
|Academic year 2019/20, Not available to visiting students (SS1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Seminar/Tutorial Hours 10,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||Individual assignment 40% (assess Learning Outcomes 1, 2)
Group feasibility study 40% (assess Learning Outcomes 3, 4, 5)
Group presentation 20% (15% presentation, 5% peer assessment) (assess Learning Outcomes 5)
||All students will be given at least one formative feedback or feed forward event for every course they undertake, provided during the semester in which the course is taken and in time to be useful in the completion of summative work on the course. Such feedback may be at course or programme level, but must include input of relevance to each course in the latter case.
Feedback on formative assessed work will be provided within 15 working days of submission, or in time to be of use in subsequent assessments within the course, whichever is sooner. Summative marks will be returned on a published timetable, which has been made clear to students at the start of the academic year.
Students will gain feedback on their group project progress during class discussions and up to one hour after classes.
-Student group project feedback
-Formal presentations to the group
-Group pitch rehearsals and feedback
|No Exam Information
On completion of this course, the student will be able to:
- Understand and critically discuss the linkages between entrepreneurship and venture creation, development and growth.
- Understand and critically evaluate the contrasting motivations which entrepreneurs have for creating new ventures and understand how those motivation influence venture development and growth.
- Understand and critically discuss the stages and processes involved in identifying and screening entrepreneurial opportunities and know how to assess a range of possible market opportunities in a structured and systematic way.
- Critically discuss alternative approaches and business models for the exploitation of entrepreneurial opportunities.
- Understand and discuss the key elements in and purpose of a business plan and know what should be included in a business ¿pitch¿ of a new venture opportunity.
|Graduate Attributes and Skills
After completing this course, students should be able to:
-Analyse different business situations where entrepreneurial opportunities are present or possible;
-Generate and assess critically new business ideas;
-Assess the resources required to pursue an opportunity;
-Manage or advise on the key elements for creating a new venture;
-Develop a business plan with others that can guide the start-up process and access resources;
-Locate and access materials/data, draw from multiple sources of information and assess its relevance to the opportunity under consideration
|Course organiser||Ms Debbie Crompton
|Course secretary||Miss Fionna Ogilvie
Tel: (0131 6)51 3028