WM9J9-15 Enabling a New Venture
Introductory description
This module provides an overview of the majority of aspects associated with enabling a new venture, for example, a start-up business, or a new corporate entrepreneurship venture. Through exposure to best practice and an exploration of the practical side of enabling a new venture, the module analyses the complex and inter-related decisions a business owner has to make. Consideration is also given to the “soft side” of running a business, including personal behavior traits as an entrepreneur, leading and balancing a team, and team motivation.
The module integrates business concepts, tools, techniques, and ideas from previous modules, providing the necessary translation, direction, and guidance to convert business ideas and models into a reality to ‘make it happen’. The module equips students with knowledge, tools and methodologies that are useful for new ventures and has input from a number of successful business entrepreneurs.
NB: Students attending this module should bring a 'business idea' that will be developed throughout the module.
Module aims
This module critically analyses the preparation and implementation issues in setting up a new venture. It critically analyses and evaluates options on the types of businesses, and the resulting operational requirements that may apply and how these impact on the operational process of the business. It assesses the administrative matters and business processes that will be required.
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.
(1) Detailed business models with operational design and process design
(2) Forms of Business Organisation and iterative design for start-up businesses
(3) Business function and process overview and decision implications across the organisation (Operation, product development, R&D, HR, Sales and Marketing, fund raising)
(4) start-up business team building
(5) Lean Start-up approach for iterative Business Process Mapping and redesign
Learning outcomes
By the end of the module, students should be able to:
- Critically assess the business legitimisation from operational, legal, financial, marketing, production, and employment issues relevant to setting up and running an innovative venture.
- Critically analyse the business processes that will be required for early stage innovative businesses, evaluate options for business process design.
- Evaluate the problem solving, managerial, team building, negotiating and creativity skills required in setting up and running such a business.
- Evaluate the changing nature of business processes that successful entrepreneurship requires.
- Investigate the appropriate options on iterative approaches to design business processes.
- Examine how decisions made in one business process / function may affect other areas, which draws on the above knowledge and skills.
Indicative reading list
https://rl.talis.com/3/warwick/lists/66A34BD8-0131-0FD1-5C53-4FBEA357CC3B.html?lang=en-GB&login=1
Subject specific skills
Entrepreneurship & Business Operation Intercultural Awareness, Start-up team & fund raising Communication, Digital Literacy on business operation, Organisational Awareness (Startup specific)
Transferable skills
Self-awareness, Communication, teamwork, Critical Thinking, Professionalism， Information Literacy, Ethical Values
Study time
| Type | Required |
|---|---|
| Lectures | 14 sessions of 1 hour 30 minutes (14%) |
| Seminars | 3 sessions of 1 hour 30 minutes (3%) |
| Tutorials | 3 sessions of 1 hour 30 minutes (3%) |
| Online learning (independent) | 10 sessions of 1 hour 30 minutes (10%) |
| Other activity | 5 hours (3%) |
| Private study | 20 hours (13%) |
| Assessment | 80 hours (53%) |
| Total | 150 hours |
Private study description
designated time for independent and reflective work on student own business cases in week 2, bringing in learnings from week 1. this will be conducted in student own choice of study places.
Other activity description
NB: Lectures and Seminars will require a lecture room / syndicate spaces. Facility requirement as follow -
week 1 - full access to a large lecture room
week 2 - 3 half day access to a large lecture room (doesn't have to be in the same room)
Other activity = alumni case, one of the alumni will come back and talk about their experience on iterating their businesses at early stages.
Group session are based on 5 ppl per group. please use this as a reference for break out spaces if possible
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 A
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Post-module assessment | 80% | 80 hours | Yes (extension) |
|
3000 words post module assessment - |
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| In-module assessment | 20% | No | |
|
In module teamwork/ e-learning assessment. Hours are allocated within the module delivery time. |
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Assessment group R
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Assessed work as specified by department | 100% | Yes (extension) | |
|
3600 words post module assessment (100%) |
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Feedback on assessment
In Module Assessment (Syndicate work) feedback will be communicated in-module.
Post module assignment feedback will be provided after marketing through a formal report (specific and general).
Pre-requisites
the new 15 CAT Business Model Generation module
Courses
This module is Core for:
- Year 1 of TWMS-H1Y2 Postgraduate Taught Innovation and Entrepreneurship
This module is Optional for:
- Year 1 of TCHA-F1PW Postgraduate Taught Polymer Science