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IB3L4-15 Building a Venture

Department
Warwick Business School
Level
Undergraduate Level 3
Module leader
Harveen Chugh
Credit value
15
Module duration
10 weeks
Assessment
Multiple
Study location
University of Warwick main campus, Coventry
Introductory description

This is an elective module available for WBS and non-WBS students.
This module is designed to provide real world, practical learning on how to actually start a new business venture, with a focus on the lean startup methodology. The process of developing a new business venture involves testing the feasibility of a business idea.

  • The lean startup approach favours experimentation over elaborate planning, customer feedback over intuition, and iterative design over up front development. By learning this methodology, students will gain a deeper understanding on how to increase value producing practices during the product development phase and achieve success without requiring large amounts of funding, elaborate business plans, or the perfect product.
  • Students in this module will be required to “get stuck in” by talking to customers. The course simulates the experiences that entrepreneurs undergo in the early stages of their venture.

Module web page

Module aims

This module is designed to provide real world, practical learning on how to actually start a new business venture, with a focus on the lean startup methodology. The process of developing a new business venture involves testing the feasibility of a business idea.

  • The lean startup approach favours experimentation over elaborate planning, customer feedback over intuition, and iterative design over up front development. By learning this methodology, students will gain a deeper understanding on how to increase value producing practices during the product development phase and achieve success without requiring large amounts of funding, elaborate business plans, or the perfect product.
  • Students in this module will be required to “get stuck in” by talking to customers. The course simulates the experiences that entrepreneurs undergo in the early stages of their venture.
Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Introduction
Ideas
Strategy and goals
Customer discovery: hypotheses
Customer personas
Customer discovery: testing (2 sessions)
Customer discovery: learning
The financial perspective
Summary

Learning outcomes

By the end of the module, students should be able to:

  • Comprehend the lean startup principles
  • Comprehend the financial perspective by which new business ideas are viewed
  • Apply a data-driven approach to the development of a new business idea
  • Analyse empirical data based on testing hypotheses for a new business idea
  • Evaluate data and make judgements about the feasibility and next steps for a new business idea
  • Construct an updated business idea and model based on data
  • Develop problem-solving skills.
  • Develop coherent lines of argument.
  • Analyse empirical data and key readings
Indicative reading list

Bland, D. J., Osterwalder, A., Smith, A., & Papadakos, T. (2020). Testing business ideas.
Bock, A. J., & George, G. (2018). The business model book: Design, build and adapt business ideas that thrive.
Fitzpatrick, R. (2019). The mom test: How to talk to customers and learn if your business is a good idea when everyone is lying to you.
Ghauri, P. N., Grønhaug, K., & Strange, R. (2020). Research methods in business studies.
Massa, F. G. (2021). Entrepreneurship in the wild: A startup field guide.
Neck, H. M., Neck, C. P., & Murray, E. L. (2021). Entrepreneurship: The practice and mindset.
Ries, E. (2011), The Lean Startup: How Constant Innovation Creates Radically Successful Businesses, London ; New York : Portfolio Penguin

Subject specific skills

Demonstrate the ability to apply the fundamental concepts and analytical tools that help identify, assess opportunities and develop entrepreneurial ventures in real world business situations and opportunities.
Gain valuable practical experience in researching, developing, defining and clearly communicating a new business concept in an efficient, effective and compelling manner.

Transferable skills

Demonstrate the ability to listen to and deliver feedback in a constructive manner.
Develop written and oral skills in business presentation and communication
Enhance research skills and the ability to effectively search, gather and utilize information and knowledge.
Improve time management skills as well as the ability to prioritize tasks effectively.

Study time

Type Required
Lectures 10 sessions of 1 hour (7%)
Seminars 9 sessions of 1 hour (6%)
Online learning (independent) 10 sessions of 1 hour (7%)
Private study 48 hours (32%)
Assessment 73 hours (49%)
Total 150 hours
Private study description

Private Study.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group A2
Weighting Study time
Individual Assignment 90% 65 hours
Participation 10% 8 hours
Assessment group R1
Weighting Study time
Individual Assignment 100%
Feedback on assessment

Feedback will be provided via my.wbs.

Pre-requisites

To take this module, you must have passed:

Courses

This module is Optional for:

  • UIBA-N20B BSc in Management
    • Year 3 of N20B Management
    • Year 3 of N20B Management
    • Year 3 of N234 Management with Digital Innovation
    • Year 3 of N235 Management with Entrepreneurship
    • Year 3 of N232 Management with Finance
    • Year 3 of N252 Management with Marketing
  • UIBA-MN3C Law and Business Four Year (Qualifying Degree)
    • Year 3 of MN3C Law and Business Four Year (Qualifying Degree)
    • Year 4 of MN3C Law and Business Four Year (Qualifying Degree)
  • Year 3 of UIBA-N400 Undergraduate Accounting and Finance
  • UIBA-N404 Undergraduate Accounting and Finance (with Foundation Year and Placement/Undergraduate Partnership Programme)
    • Year 5 of N404 Accounting and Finance (Foundation Year and Placement)
    • Year 5 of N405 Accounting and Finance (Foundation Year and UPP)
    • Year 5 of N403 Accounting and Finance (with Foundation Year)
  • Year 4 of UIBA-N403 Undergraduate Accounting and Finance (with Foundation Year)
  • UIBA-N401 Undergraduate Accounting and Finance (with Placement Year/Undergraduate Partnership Programme)
    • Year 4 of N401 Accounting and Finance (Placement)
    • Year 4 of N402 Accounting and Finance (Undergraduate Partnership Programme)
  • Year 3 of UCSA-I1N1 Undergraduate Computer Science with Business Studies
  • Year 4 of UCSA-I1NA Undergraduate Computer Science with Business Studies (with Intercalated Year)
  • Year 1 of UIOA-EEU Undergraduate EU Exchange
  • Year 3 of UGEA-RN21 Undergraduate German and Business Studies
  • Year 3 of UIPA-L8N1 Undergraduate Global Sustainable Development and Business
  • Year 4 of UIPA-L8N2 Undergraduate Global Sustainable Development and Business Studies (with Intercalated Year)
  • UIBA-N20F Undergraduate International Management
    • Year 4 of N20F International Management
    • Year 4 of N20F International Management
    • Year 4 of N20N International Management (with Digital Innovation)
    • Year 4 of N20P International Management (with Entrepreneurship)
    • Year 4 of N20M International Management (with Finance)
    • Year 4 of N20L International Management (with Marketing)
    • Year 4 of N20E Management (with Foundation Year)
    • Year 4 of N234 Management with Digital Innovation
  • Year 2 of UIBA-MN3A Undergraduate Law and Business Studies
  • UIBA-N20J Undergraduate Management (with Foundation Year and Placement Year/Undergraduate Partnership Programme)
    • Year 5 of N20J Management (Foundation Year and Placement)
    • Year 5 of N20K Management (Foundation Year and UPP)
    • Year 5 of N23H Management with Digital Innovation (with Foundation Year and Placement Year)
    • Year 5 of N23J Management with Entrepreneurship (with Foundation Year and Placement Year)
    • Year 5 of N23G Management with Finance (with Foundation Year and Placement Year)
    • Year 5 of N255 Management with Marketing (with Foundation Year and Placement Year)
  • UIBA-N20E Undergraduate Management (with Foundation Year)
    • Year 4 of N20E Management (with Foundation Year)
    • Year 4 of N23E Management with Digital Innovation (with Foundation Year)
    • Year 4 of N23F Management with Entrepreneurship (with Foundation Year)
    • Year 4 of N23D Management with Finance (with Foundation Year)
    • Year 4 of N254 Management with Marketing (with Foundation Year)
  • UIBA-N20C Undergraduate Management (with Placement Year/Undergraduate Partnership Programme)
    • Year 4 of N20B Management
    • Year 4 of N20D Management (Undergraduate Partnership Programme)
    • Year 4 of N20C Management (with Placement Year)
    • Year 4 of N236 Management with Digital Innovation (with Placement Year)
    • Year 4 of N237 Management with Entrepreneurship (with Placement Year)
    • Year 4 of N233 Management with Finance (with Placement Year)
    • Year 4 of N253 Management with Marketing (with Placement Year)
  • Year 3 of UMAA-G1N4 Undergraduate Mathematics with Business Studies
  • Year 4 of UMAA-G1N5 Undergraduate Mathematics with Business Studies (with Intercalated Year)
  • Year 1 of UIOA-EOS Undergraduate Overseas Exchange
  • Year 4 of UPXA-F3ND Undergraduate Physics and Business Studies (with Intercalated Year)
  • Year 3 of UPXA-F3N2 Undergraduate Physics with Business Studies
  • Year 1 of UIOA-EUS Undergraduate USA Exchange