Module Details

Module Code: MGMT8007
Title: New Venture Planning
Long Title: New Venture Planning
NFQ Level: Advanced
Valid From: Semester 1 - 2022/23 ( September 2022 )
Duration: 1 Semester
Credits: 5
Field of Study: 3450 - Business & Management
Module Delivered in: 4 programme(s)
Module Description: This module allows students to explore a business opportunity or idea, with a sustainable component. Students will complete fundamental market research and financial analysis to assess the business ideas viability for further commercial development. This module also requires students to develop a business plan / model canvas for the new venture and to pitch their idea to a panel of enterprise experts.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Apply and implement idea generation tools and techniques to generate an original commercial or social business opportunity or idea.
LO2 Assess the commercial viability of the new venture through field and desk research and financial analysis.
LO3 Identify value in intellectual property and apply effective intellectual property rights solutions for the business proposition.
LO4 Evaluate the sources of private and public assistance and finance available to start-ups and expanding small firms.
LO5 Develop communication skills through the process of arguing the enterprise case in a pitch presentation.
LO6 Formulate a complete business plan / business model canvas based on an original 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).
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
No Co-requisite modules listed
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
Entrepreneurship and the Start-Up
Definition of an Entrepreneur. Different types of entrepreneurs. Social, Inclusive, Sustainable and Tech entrepreneurship. Introduction to the Rubicon Incubation Centre.
Sustainability and Corporate Social Responsibility
Economic, environmental and social sustainability, sustainable consumption; sustainable marketing. CSR; business self-regulation and social accountability. The UN Sustainable Development Goals.
Opportunity Identification & Idea Generation
Creativity and problem solving. Sources of new ideas. Methods for generating ideas and screening ideas.
Introducing the Business Model Canvas
Lean start-up. Business model canvas exploration, application and development.
Introducing the Business Plan
Definition, scope and value of the business plan, writing and implementing the business plan. Business plan templates and samples.
Market Research & Marketing Strategy
Approaches to primary and secondary market research. Sources of information. Market analysis; exploring industry and competitor profiles and customer / end user needs. Sizing the opportunity and routes to market. Positioning and the marketing mix. The marketing planning framework.
Legislative Implications
Legal formation options of new enterprises. Intellectual Property Rights; patents, trademarks, copyright protection and licensing agreements.
Sources of Support
Enterprise Support Agencies at local and National level. Finding and using the appropriate supports.
Financing the New Venture
Private and public funding options for early stage start-ups: debt equity, business angels, venture capital, crowd funding, boot strapping, government funding & supports.
Financial Planning
Costing. Pricing. Sales forecasting. Profit & Loss. Balance Sheet. Cash Flow. Use of financial planning and analysis software.
Presenting the Enterprise Case in a Pitch Presentation
Creating and structuring a winning pitch presentation and communicating this pitch to a panel of industry experts.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Presentation % of Total Mark 20
Timing Week 4 Learning Outcomes 1,5
Assessment Description
Pitch an original idea for a commercial or social product or service to a panel of experts.
Assessment Type Written Report % of Total Mark 30
Timing Week 8 Learning Outcomes 1,2,3,4,6
Assessment Description
Develop a feasibility study based on a new market idea.
Assessment Type Project % of Total Mark 50
Timing Sem End Learning Outcomes 1,2,3,4,5,6
Assessment Description
Completion of a full scale business plan / business model canvas. The assessment may also include a presentation.
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 3.00 3
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 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Self Directed Learning Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Janet Crum and Samantha Schmehl Hines. (2019), Supporting Entrepreneurship and Innovation, Emerald Publishing Limited, [ISBN: 9781789732054].
  • Ron Immnick & Brian O'Kane. (2009), Starting your own Business; A workbook, 3rd. Oak Tree Press, Ireland, [ISBN: 9781904887355].
  • Kathleen Allen. (2016), Launching New Ventures, an Entrepreneurial Approach, 7th. Cengage Learning, London, [ISBN: 978130510250].
  • Yvonne McGivern. (2009), The practice of market research - an introduction, 3rd. Prentice Hall, [ISBN: 978067092160].
Supplementary Book Resources
  • David A. Gibson. (2010), The Streetwise Guide to Being Enterprising, Oak Tree Press, Ireland, [ISBN: 9781904887324].
  • Joseph Tidd and John Bessant. (2015), Innovation and Entrepreneurship, 3rd Edition. Wiley, [ISBN: 9781119089438].
  • Eric Ries. (2011), The Lean Start-Up; How constant innovation creates radically successful businesses, 1st. Portfolio Penguin, [ISBN: 9780670921607].
  • Peggy A. Lambing & Charles R. Kuehl. (2014), Entrepreneurship, 4th. Pearson, UK, [ISBN: 9781292040004].
  • Thomas M. Cooney. (2010), Enterprise Cases: looking beyond commercial, Lambart Academic Publishing, [ISBN: 9783838355641].
  • Frank Wood and Alan Sangster. (2018), Business Accounting, 14th. Pearson UK, [ISBN: 9781292208626].
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_BBTCM_8 Bachelor of Business (Honours) in Business Technology and Communications 1 Elective
CR_BBISY_8 Bachelor of Business (Honours) in Information Systems 7 Mandatory
CR_BENBU_7 Certificate in Entrepreneurship & Business 2 Mandatory
CR_BAVMA_9 Master of Business Administration with Aviation Management 3 Elective