BMM6302 - Entrepreneurship and Creativity

Objectives:

On successful completion of the module, students will be able to:

1 - Compare and contrast a variety of strategic models to develop and critically evaluate business start-up ideas
2 - Appraise the impact of various environmental/market/competition factors on the development of a new business
3 - Design a detailed and viable business plan, reflecting on key business functional areas
4 - Produce their business proposal effectively and creatively, appropriate to a variety of audiences.

Content:

This module will prepare students to consider the reality of starting their own business as a viable alternative to seeking employment upon graduation. This module is supported by external input from successful entrepreneurs, in the form of masterclasses. The key difference of this module is the applied nature of the material: theoretical models will be presented, used and critiqued as practical tools in the development of viable business start-ups and in nurturing and growing small businesses. The module will give all students a 'toolbox' that will allow them to complete a business plan. In the process they will learn/ revise all the fundamentals of business: accounting, marketing, supply chain (operations), sales and management (HR).

The module starts from a revision of business fundamentals, including marketing, finance/accounting, operations, and people management, which allows students from all programmes to be at the same level.

The content and assessment strategy will encourage students to develop a business start-up idea to which the various tools and models can be applied producing a feasibility report and then a progressively more robust and considered business plan throughout the course. The importance of teamwork will be highlighted and students will be encouraged to work in teams but will also allow for individuals to develop their ideas. The fundamentals of the theoretical knowledge-base will be delivered by the academic input, while the guest speakers will provide the cutting-edge and practical material creating a coherent and rigorous 'enterprise culture'.

The detailed module content will therefore vary according to the available expertise and contemporary factors affecting business start-ups and will include a broad coverage of topics such as (but not limited to) idea generation and creativity, market segmentation and targeting, business planning and understanding the competitive environment, financial issues, marketing and brand development, operations models and organisational structures and the legal context of new business. In addition, practical skill elements of the module will include a business start-up simulation game, development of marketing and promotional material, and an opportunity to participate in a 'Dragons' Den'-style competition.

Learning and Teaching Information:

The year long module is delivered via a series of 2-hour teaching blocks, comprising lecture and workshop elements. The teaching is supported by a series of masterclasses facilitated by external business experts and entrepreneurs, allowing students to have access to the most recent best practices and various aspects of business operations, e.g. sales, marketing, finance, legal issues associated with setting up a business, intellectual property rights protection, etc.

Lectures/Seminars
Contact hours: 30
Intended Group size: Cohort

Masterclasses
Contact hours: 10
Intended Group size: Cohort (open to all LTU Students)

Guided independent study
Hours: 160

Further details relating to assessment

Business idea (Video): You are required to produce a 5-minute business idea video. The aim is to present your initial enterprise idea, describing the product or service with appropriate reasoning for your choice. You will need to outline the target market, main strengths and any weaknesses of your idea and an overview of how you envisage the business operating. You will be required to include a SWOT analysis with a realistic view of where you see the business within a year’s time. The pitch should be creative and informative to generate interest and potential investment in the idea.

Assessment 2: Dragon’s Den Presentation
This is a formal presentation to a panel of judges, to present your final business concept and sell the venture to potential investors. The presentation will be based on providing a “highlights” version of the key elements of final business plan. It will emphasise the feasibility of the business and include realistic assessments and projects for at least one year’s trading.

Assessment 3: Final Business Plan
A business plan, using an appropriate business plan template that covers all the main aspects of starting a business. This should cover all the basic areas from the course such as business analysis (customers, competitors, suppliers, economic, social, legal environment), financial issues (financial statements), marketing plans, market awareness, personnel factors, legal issues. There may be other issues highly important for you to cover which are specific to your business.

Alternative assessment: any students who defer or re-sit any components of the assessment will be assessed by a written report with equivalent pro-rata loading.

Other relevant matters
This module is available to all Level 6 Leeds Trinity Students as a year long option.

Assessment:

001 Business idea (video); 5mins equiv; mid-module/end of semester 1 20%
002 Dragons’ den presentation; 10mins; mid-semester 2 40%
003 Business plan; 1,500 words; end of semester 2 40%

Fact File

Module Coordinator - Nikki Eastwood
Level - 6
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered - 6YL

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