Introductory description

This module gives aspiring entrepreneurs a detailed overview of the business startup process, including the crucial stage of business modelling within the digital sphere. Digital business modelling will form an important learning component on this module helping students assess how startups create, deliver and capture new value.

Students will develop an understanding of how innovative digital business models can garner competitive advantage for longer compared with traditional product, process or technology-based innovation, and have caused disruption in markets such as travel, accommodation, online commerce and personal finance.

Through an analysis of best practice and an exploration of the practical side of digital venture creation through the Lean Startup methodology, this module exposes students to the complex and inter-related decisions an entrepreneur needs to make during the venture creation process in an online setting, principally the pre-and startup stages.

The module integrates business concepts, tools, techniques, and ideas from other core MSc Innovation & Entrepreneurship modules, providing the necessary translation, direction, and guidance to load up business models onto the new venture creation process as it is enacted in the digital sphere.

The module equips students with the knowledge, tools and methodologies that are important in new venture creation generally, although the particular emphasis is on digital startup.

Module aims

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.

• The digital start-up life cycle and its relationship to the varieties and configurations of digital eco-systems
• Forms of Business Organisation and iterative design for start-up businesses
• Business functions and process overview and decision implications (operations, product development, R&D, HR, sales and marketing, fund raising and so on)
• Start-up business team building
• Lean Start-up approach for iterative Business Process Mapping and redesign
• The process of Business Model Design and supporting tools and viewpoints.
• The Minimum Viable Proposition (MVP) and pivots

Learning outcomes

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

• Critically analyse the various options and processes for early stage digital business start-up
• Synthesise and critically evaluate the key elements of a digital business model as a part of new venturing team
• Investigate the appropriate options for business processes design for a new digital startup
• Evaluate and test digital business model designs and pivot to better designs using the Lean Startup Methodology
• Demonstrate digital business startup expertise as a part of new venturing team

Indicative reading list

Burns, P. (2022). Entrepreneurship and small business: start-up, growth and maturity, Fifth edn, Red Globe Press, London.

Patel, N. (2022). Low Budget Online Marketing Strategies

Saluoks, R. (2022). Why And How To Build Your Startup Business Around ESG

Business Model Generation – Alexander Osterwalder & Yves Pigneur, Published by John Wiley and Sons, ISBN 978-0470-87641-1

Running Lean – Iterate from Plan A to a plan that works – Ash Maurya Published by O’Reilly ISBN 978-1-449-30517-8

Sprint – How to solve Big Problems and test new ideas in 5 days – Jake Knapp – Bantam Press – ISBN 9780593076118

The Service Innovation Handbook – Lucy Kimbell – BIS Publishers – ISBN 9789063693534

Business Models Made Easy – Don Debelak Entrepreneur Press ISBN 1-59918-041-3

Seizing the White Space – Business Model Innovation for growth and Renewal, Mark W Johnson Harvard Business Press ISBN 978-1-4221-2481-9

The Lean Startup: How Constant Innovation Creates Radically Successful Businesses Eric Ries.

This is Service Design Thinking – Marc Stickdorn BIS Publishers, ISBN 978-90-6369-256-8

From Zero to One – Peter Thiel – Crown Business – ISBN 978-0804139298

View reading list on Talis Aspire

Research element

Market Evaluation, Competitor Evaluation, Value Propostion evaluation. Target Customer evaluation

Interdisciplinary

Synthesis of ideas from different diciplines to design and evaluate solutions across a wide range of markets.

International

Consider and factor in differences in markets, legal environments, social and cultural norms and their impact on Business Model design.

Subject specific skills

• Entrepreneurship & business operations
• Intercultural Awareness
• Start-up team & fund raising
• Digital Literacy on business operations
• How to design an effective business model for the execution of a business idea
• The Lean Sprint as a project delivery tool
• Business Model Design
• Competitor evaluation
• Business Idea Generation & Evaluation
• Product-Market Fit
• Using Other structured methods to investigate and develop Business ideas
• Effective Pitching of Business Ideas

Transferable skills

Communication, team work, professionalism, leadership, digital literacy, problem solving, critical thinking, information literacy, team work and organizational awareness.