Module Details

Module Code: AGRI8002
Title: Agribusiness Innovation
Long Title: Agribusiness Innovation
NFQ Level: Advanced
Valid From: Semester 1 - 2016/17 ( September 2016 )
Duration: 1 Semester
Credits: 5
Field of Study: 6210 - Agriculture
Module Delivered in: 2 programme(s)
Module Description: This module allows the student to write a business and marketing plan based on an original food or agri/horticulture business related idea. Learners will focus on the new product development process, using an in-depth practical understanding of the important elements underpinning the development and marketing of successful ideas from concept to commercialisation while supporting sustainability.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Differentiate innovation and invention and critically evaluate the models of innovation.
LO2 Evaluate the contribution of innovation and new product development to business development, growth and sustainability.
LO3 Undertake market research based on a new product idea and evaluate associated customer needs and market opportunities.
LO4 Critically assess the commercial viability of setting up a business related to an agricultural or horticultural business or as an artisan food operation.
LO5 Formulate a complete business and marketing plan based on an original agriculture, horticulture or food business idea.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Have completed module(s) in accounting and marketing and Entrepreneurship 1 or Technology Entrepreneurship.
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
None
Co-requisite Modules
11357 AGRI8001 Agribusiness Strategic Finance
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
None
 
Indicative Content
Innovation Management & New Product Development
Evaluate the contribution of innovation and new product development to business sustainability and development. Innovation, intrapreneurship, entrepreneurship in small and large organisations. Design and new product development. Customer needs.
Opportunity Recognition
Creativity and the Business Idea. Sources of new ideas, methods for generating ideas and screening, creative problem solving. Business models.
Feasibility Testing
The founding team. Analysing the industry and market, analysing product/service risks and benefits. Outside People Resources, financial resources, analysing financial risks and benefits. Agri Food markets.
The Business Plan
Definition, scope and value of business plan, evaluation of business plans, writing the business plan, content of a business plan, using and implementing the business plan, why some businesses fail?
The Marketing Plan
Marketing research for the new venture. Marketing Strategy. Characteristics of a marketing plan, the marketing mix, steps in preparing the marketing plan. The internet. Customer service. Food Marketing.
The Financial Plan
Operating and capital budgets. Financial reports. Break-even analysis. Software packages.
The Operations Plan
Economies of scale - stock control - production schedule, inventory control, transport and distribution, quality standards, technology trends, Agriculture supply chains.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Presentation % of Total Mark 30
Timing Week 6 Learning Outcomes 1,2,3
Assessment Description
First screen of merits of proposed idea under development.
Assessment Type Open-book Examination % of Total Mark 20
Timing Week 12 Learning Outcomes 1,2,3,4,5
Assessment Description
In-class exam - for example 45 minute paper asking students to critically analyse a specific topic from the topics outlined in the indicative content. There would be only one question to be answered in the exam allowing students ample time to construct their analysis rather than simply regurgitating class notes etc.
Assessment Type Project % of Total Mark 50
Timing Sem End Learning Outcomes 3,4,5
Assessment Description
Completion of a written business plan based on an original idea.
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Delivery of course material and involvement of guest lecturers Every Week 2.00 2
Lab Contact Seminar/Workshop: Discussion Forum Every Week 1.00 1
Independent & Directed Learning (Non-contact) Non Contact Self Directed Learning Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Delivery of course material and involvement of guest lecturers Every Week 1.50 1.5
Independent & Directed Learning (Non-contact) Non Contact Self Directed Learning Every Week 5.00 5
Lab Contact Seminar / Workshop: Discussion Forum Every Week 0.50 0.5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Kathleen Allen. (2016), Launching New Ventures: An Entrepreneruial Approach, 7th. Cengage Learning, [ISBN: 1305102509].
Supplementary Book Resources
  • Paul Trott. (2012), Innovation Management and New Product Development, 5th. Financial Times Prentice Hall, [ISBN: 0273736566].
  • Robert Hisrich, Michael Peters & Dean Shepherd. (2012), Entrepreneurship, 9th. McGraw-Hill International, [ISBN: 0078029198].
  • Liisa Välikangas, Michael Gibbert. (2015), Strategic Innovation - The Definitive Guide to Outlier Strategies, Pearson, [ISBN: 0133989445].
  • Douglas Miller. (2015), Business Express: Nurturing Business Innovation Build a Culture of Creative Thinking, Pearson, [ISBN: 9781292095820].
  • Max McKeown. (2014), The Innovation Book - How to Manage Ideas and Execution for Outstanding Results, FT Publishing, [ISBN: 1292011904].
Supplementary Article/Paper Resources
  • Journal, International Small Business Management.
  • Journal, Journal of Small Business Management.
  • Journal, Entrepreneurship Theory and Practice.
  • Journal, European Small Business Journal.
  • Journal, Journal of Small Business Venturing.
  • Journal, Harvard Business Review.
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BAGRI_8 Bachelor of Science (Honours) in Agriculture 1 Mandatory
CR_BHORT_8 Bachelor of Science (Honours) in Horticulture 1 Mandatory