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On successful completion of the module, students will be able to:
Demonstrate an understanding of the key issues surrounding the foundation of a business.
Show understanding of the role of marketing in a modern business.
Undertake simple research into a new market area and present the research.
Apply principles of marketing to real-world case.
What is a small business? How is a business established in the UK, what constraints and opportunities face small businesses? The principle of competitive advantagze and how it pertains to every business. This will include an introduction to SWOT analysis methods. The modern business environment. Business plans. Sustainability (financial and environmental) for business. Finally, an introduction to the principles of business finance.
The marketing aspect of the module will begin with market research techniques. This will include research into new / burgeoning markets, establishing a base line understanding of a market. What are the '4 P's' of marketing? Developing a simple marketing plan.
Finally the course will conclude with an overview of how the internet and advanced communications technology has facilitated small businesses, how businesses use social media, and how these may be harnessed to reach an audience for your business.
This module will be delivered through a combination of lectures, workshops, course work and group work. The key principles of developing a business will be presented alongside the development of a business plan by the students for a business that THEY may wish to pursue. This will include the use of research tools, looking at modern commerce platforms, and understanding markets that are relevant to the students in the cohort.
Case studies will be used to demonstrate how the students may develop their own business plan. A core text will be used, and will be augmented by reference to other materials relevant to the students.
Learning will be supported with materials posted on Moodle, and Panopto videos. In addition, social media shall be used to provide an alternative communications model for the student body to support the perception that starting a business is an enterprise they may wish to engage in.
The assessment model supports continual engagement with the course.
Lectures/Workshops/Group Discussion and Activities
Contact Hours: 50
Intended Group Size: Cohort
Guided independent study
Hours: 250
Further details relating to assessment
The business plan will be submitted at the end of the Second Semester and represent a simple piece of market research, and an application of the principles of the course as outlined week by week.
The choice of poster presentation in this module at the end of semester 2 is meant to mirror some of the key aspects of establishing a business in a low tension environment. The student will not have to prepare a powerpoint slide, but will instead be expected to summarise their business plan as designed using a simple poster / infographic. This should be appropriate for the student target audience intended to enrol on this module.
Module Coordinator - Katie Lupton
Level - 0
Credit Value - 30
Pre-Requisites - NONE
Semester(s) Offered - 3YL