NEW BUSINESS VENTURING - 2022/3

Module Overview

This module is designed to provide students with an understanding of the different steps that a new venture takes from developing a business idea into a business opportunity, to carry out market research to validate the idea and then to construct a business plan based on strategies for scaling which can be used with stakeholders to secure funding and to grow business.  The module will enable students to understand theories related to enterprise and entrepreneurship and enable them to apply such theories through a group project to develop market research using Lean Start-up methodology on behalf of actual businesses and then applying research further to develop business plan. This will also enable students to develop critical understanding of  the research methods, structure and format which will also be useful for their Final Research Project.

Module provider

Surrey Business School

Module Leader

SEARS Jim (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

N/A

Module content

The content will be divided into three sections:

 

• Introduction and discussion of theory related to Entrepreneurship and Enterprise including research methods, Lean Start-up approach and traditional business planning;


• Development of key Entrepreneurial skills related to market research which can be applied to a new business ;


• Development of different components of a business plan for a new business venture;

Assessment pattern

Alternative Assessment

For either group assignment, the student will prepare them as written reports on an individual basis with maximum 3000 words for research project and maximum 4000 for business plan report; 

Assessment Strategy

• 
  A group presentation on designated research project
  


• 
  A group business plan report
  
  The assessment strategy is summative and formative and aligns with the learning outcomes. There is also an element of peer assessment where students discuss and weight the contribution they have made to the group research project and to the group business plan.
  
   
  
   
  
  Formative assessment and feedback
  
  This module approach to feedback places emphasis on providing resources to students which allow them to identify their own strengths and areas for development in order to understand their entrepreneurial capabilities. These resources include:
  

• Prior to the assignment, lecture time will be spent discussing the assignment and feedback process;


• A detailed marking scheme which provides guidance on how marks will be awarded for each element of assessment. This marking scheme has benefits for both staff and students. For staff it allows for consistency of marking between markers and for rapid and rigorous marking. For students it makes it clear what is expected of them. Students will receive a mark for each element of the assignment which they can reference to the marking scheme for detailed individual feedback;


• Prior to group presentation for research project, students will meet with lecturer for formative feedback while students will receive generic feedback via U Learn after submission which explains what students did well and did less well overall.


• After the submission of individual business plan, students will receive generic feedback via ULearn explaining what students did well and did less well overall.

 

Marking will be done by the module leader and other staff assigned to the module. Other department members will be responsible for second marking which will take two forms. A sample of assignments will be second marked to ensure there is consistency in the application of the marking scheme and, where necessary, there will be statistical moderation to ensure that all marking is consistent and fair between markers. It is expected, and experience has shown, that use of the detailed marking scheme delivers consistent marking.

 

Marks will be returned to students within 3 weeks of submission.

Module aims

• Evaluate various theories of Enterprise and Entrepreneurship related to setting up a new business or venture;
• Assess critically and explore the processes involved in developing their own entrepreneurial capability in creating a new venture;
• Understand the market research process for new product development in relation to Lean Start-up methodology
• Analyse and evaluate the different component parts of a business plan and how a business plan is structured;
• Analyse and understand key steps required for setting up a new venture such as pitching and funding

Learning outcomes

Methods of Teaching / Learning

The teaching and learning strategy is designed to develop the students’ awareness of Entrepreneurship and Enterprise both as a field of academic study and as an area of practice. The learning methods are therefore designed to enhance the theoretical principles of the subject and allow the application of conceptual models and creativity techniques to practical business problems.

 

The Learning Outcomes are met through:

• 
  Lectures
  


• 
  Seminars and Workshops
  


• 
  Guest speakers
  


• 
  Case studies
  


• 
  Multimedia resources
  


• 
  SurreyLearn
  


• 
  Support materials
  


• 
  Reading
  


• 
  Individual and Group work
  

In addition the module teaching team are accessible throughout the semester to address and clarify questions.  Office hours will be provided. Feedback given will be oral and written on an individual basis and summative.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MANM298

Other information

This module is only available to Entrepreneurship & Innovation Management MSc students.

Programmes this module appears in

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2022/3 academic year.