Module Details
| Module Code: |
MGMT8028 |
| Title: |
New Product Launch
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Long Title:
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New Product Launch
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| NFQ Level: |
Advanced |
| Valid From: |
Semester 1 - 2022/23 ( September 2022 ) |
| Field of Study: |
3450 - Business & Management
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| Module Description: |
In teams with students from different disciplines, students collaborate in developing a product prototype, develop and present a professional standard business plan to expert assessors and Government enterprise agencies. In the second half of the semester, students evaluate business strategy for new ventures.
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| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| # |
Learning Outcome Description |
| LO1 |
Make costed recommendations on the issue of make or buy or outsource. |
| LO2 |
Recommend an appropriate strategy in regard to intellectual property (IP) and patenting. |
| LO3 |
Recommend appropriate sources of finance and an effective capital structure for a new venture. |
| LO4 |
Critically assess and write an optimised business plan. |
| LO5 |
Participate in a cross disciplinary pitch of the new product to an expert panel of assessors. |
| LO6 |
Perform a detailed analysis and critically evaluate a business model / business scenario. |
| 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).
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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.
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| No incompatible modules listed |
Co-requisite Modules
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| 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.
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| MGMT8026 New Product Development |
| Indicative Content |
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Cost Estimation
Calculation and decision to make, buy or outsource. Collaborate with engineering team-members on Bill of Materials, identification of supply partners.
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Company formation and operation
Forming a Limited Company, Memorandum and Articles of Association, Directors, Organisation structure, Becoming an employer, VAT, Payroll, Hiring staff, tax issues.
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IP and Patenting
Intellectual Property: Patents, trade marks, Copyright, Trade Secrets, non disclosure agreements, Benefits and costs of filing a patent.
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Financing the New Product
Finance sources for the new venture. Projected profit and loss account, Balance Sheet, Breakeven point, DCF, Estimation of risk.
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Reassessing the Business Model:
Explore alternative applications of the product, and other market segments; Marketing Strategy, Value Proposition, Target Market, Product positioning, pricing, Marketing and sales, Distribution channels. Weigh costs and benefits of outsourcing all or part of operations.
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Revise and Optimise the Business Plan
Nature, purpose and contents. Integrating the operations and marketing plan with financial projections. Forensic assessment of all aspects of the proposal.
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Resourcing the Venture
Assembling resources for launch of new venture. Role of informal and formal support and resources. Presenting a new business proposition and plans to a bank, VC, grant agency or prospective investor.
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Further steps in Product Development
Explore possibilities for strategic partnerships, promotional tools and literature, a product website
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Case Study
Using the knowledge and skills acquired in Semester 1 and Semester 2 perform a detailed analysis of a business model / case study. Identify strengths, weaknesses, opportunities and threats. Make appropriate recommendations supplying detailed supportive workings.
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Module Content & Assessment
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| Assessment Breakdown | % |
|---|
| Coursework | 100.00% |
Assessments
| 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.
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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 |
Marketing, Financing, Legal & IP issues, Outsourcing, business plan, Pitching the plan. |
Every Week |
3.00 |
3 |
| Lecturer Supervised Learning (Non-contact) |
Non Contact |
Collaboration with project team mates in product and business plan development. |
Every Second Week |
1.00 |
2 |
| Independent & Directed Learning (Non-contact) |
Non Contact |
Assessing feasibility, Cost estimation, raising finance, Exploring IP issues, outsourcing and strategic partnerships, Business case analysis. |
Every Week |
3.00 |
3 |
| Total Hours |
8.00 |
| 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 |
Marketing, Financing, Legal & IP issues, Outsourcing, business plan, Pitching the plan. |
Every Week |
2.00 |
2 |
| Lecturer Supervised Learning (Non-contact) |
Non Contact |
Collaboration with project team mates in product and business plan development. |
Every Second Week |
0.50 |
1 |
| Lecturer Supervised Learning (Non-contact) |
Non Contact |
Assessing feasibility, Cost estimation, raising finance, Exploring IP issues, outsourcing and strategic partnerships, Business case analysis. |
Every Week |
4.50 |
4.5 |
| Total Hours |
7.50 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
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Module Resources
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| Recommended Book Resources |
|---|
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Richard Brealey, Stuart Myers and Franklin Allen. (2017), Principles of Corporate Finance, 12th. McGraw-Hill/Irwin, New York, [ISBN: 9781259253331].
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Kathleen Allen. (2016), Launching New Ventures, an Entrepreneurial Appoach, 7th. Cengage Learning, London, [ISBN: 978130510250].
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Peter Atrill and Eddie McLaney. (2018), Management Accounting for Decision Makers, 9th. Pearson Education Limited, UK, [ISBN: 9781292072432].
| | Supplementary Book Resources |
|---|
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Bernard O'Hara. (2011), Entrepreneurship in Ireland, Gill and MacMillan, [ISBN: 9780717149766].
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William D. Bygrave and Andrew Zacharakis,. (2011), Entrepreneurship, 2nd. Wiley, [ISBN: 9780470450376].
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David Deakins. (2012), Entrepreneurship and Small Firms, 6th. McGraw Hill, [ISBN: 9780077136451].
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Henry William Chesbrough. (2003), Open Innovation: The New Imperative for Creating and Profiting from Technology, Harvard Business School Press, Boston, Massachusetts, [ISBN: 1578518377].
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Guy Kawasaki. (2015), The Art Of The Start, Portfolio, New York, [ISBN: 1591840562].
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Ron Immink and Brian OKane. (2002), TenBizPlan:Dynamic Business Planning for Start-ups, Oaktree Press, Cork, [ISBN: 1860762441].
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Peter F. Drucker. (2015), Innovation and entrepreneurship: practice and principles, Taylor and Francis, London, [ISBN: 9781138019195].
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Paul Burns. (2016), Entrepreneurship and small business : start-up, growth and maturity, 4th. Palgrave Macmillan, New York, [ISBN: 9781137430359].
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Colm O'Gorman and James Cunningham. (2007), Enterprise in Action - an introduction to entrepreneurship in an Irish context, 3rd. Oak Tree Press, Dublin, [ISBN: 9781904887171].
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Kathleen Allen. (2009), Entrepreneurship for Scientists and Engineers, Pearson Education, New Jersey, [ISBN: 9780132357272].
| | Recommended Article/Paper Resources |
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Joachim Henkel and Markus Reitzig. (2008), Patent Sharks, Harvard Business Review, Vol 86, Number 6, June 2008,
| | Supplementary Article/Paper Resources |
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Journal. International Small Business Journal.
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Journal. Journal of Small Business Management.
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Journal. European Small Business Journal.
| | Other Resources |
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website, Local Enterprise Office,
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website, Chambers Ireland,
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website, Small Firms Association,
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