MGMT8077 - New Enterprise Creation

Module Details

Module Code: MGMT8077
Title: New Enterprise Creation
Long Title: New Enterprise Creation
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: 1 programme(s)
Module Description: This module allows students to explore an enterprise opportunity or idea, with a sustainable component, and pitch their idea to a panel of enterprise experts. Students will complete fundamental market research and financial analysis to assess the viability of the idea for further commercial development. This module also requires students to develop a full scale business plan for the new venture.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Apply idea generation tools and techniques to generate a new commercial or social enterprise opportunity or idea, with a sustainable component.
LO2 Assess the commercial viability and establish a market demand for a new product or service using qualitative and quantitative market research methods and financial analysis.
LO3 Formulate a comprehensive marketing strategy for a new product or service.
LO4 Apply relevant sources of private and public assistance and finance available to new start-up commercial and social enterprises.
LO5 Present the business case in a pitch presentation.
LO6 Formulate a full scale business plan based on an original idea for a new product or service.
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.
No incompatible modules listed
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.
No requirements listed
 
Indicative Content
Entrepreneurship and the Start-Up
Definition of an entrepreneur. Different types of entrepreneurs e.g. nascent, habitual, novice, social, serial, home-based, portfolio, non-profit, intrapreneurs. Types and structures of social enterprises - hybrid, change agents, social innovation. Community entrepreneurship. Introduction to and tour of the Rubicon Centre. This inks with SDG9: Industries, Innovation and Infrastructure - leading to the generation of income and employment.
Sustainability, Ethics and Corporate Social Responsibility
Economic, environmental and social sustainability; sustainable consumption; sustainable marketing. Corporate social responsibility (CSR); business self-regulation and social accountability. Business ethics; transcultural corporate ethics. The UN Sustainable Development Goals with particular reference to SDG 12 Responsible Consumption and Production - increasing resource efficiency and promoting sustainable economic growth, and SDG 13 Climate Action - dealing with the impact of climate change on economy and lives.
Opportunity Identification and Idea Generation
Creativity and problem solving. Sources of new ideas. Methods of generating new ideas and screening ideas.
Introducing the Business Model Canvas
Business model canvas exploration, application and development. Lean start-up canvas.
Market Research Methodologies
Qualitative and quantitative market research methods, including observational techniques, interviewing, projective techniques, focus groups and surveys. Market analysis, exploring industry and competitor profiles and customer/end user needs.
Marketing Strategy
Sizing the opportunity and routes to market. Positioning and the marketing mix. The marketing planning framework.
Legislative Implications - formation and IP
Legal formation options of the new enterprise venture. 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 Enterprise Venture
Private and public funding options for early stage start-ups; debt equity, venture capital, business angels, crowd funding, boot strapping, government funding and supports.
Financial Planning
Costing. Pricing. Sales forecasting. Profit and Loss. Balance Sheet. Cash flow projections. 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 enterprise experts.
Introducing the Business Plan
Definition, scope and value of the business plan, writing and implementing the business plan. Business plan templates and samples.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Practical/Skills Evaluation % of Total Mark 20
Timing Week 4 Learning Outcomes 1,5
Assessment Description
For example: conduct idea generation exercises to compile a list of ideas for a new product or service with sustainable intention. This can be for a full commercial enterprise or a social enterprise. Develop one idea and pitch this idea to a panel of enterprise experts.
Assessment Type Project % of Total Mark 80
Timing Week 13 Learning Outcomes 1,2,3,4,5,6
Assessment Description
Completion of a full scale written business plan and a presentation. The assessment may be completed as a group and include a peer review component.
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 lectures Every Week 2.00 2
Lecture Contact Seminar/Workshop: Discussion Forum Every Week 1.00 1
Lecturer-Supervised Learning (Contact) Contact One-to-one contact with groups Every Week 1.00 1
Independent & Directed Learning (Non-contact) Non Contact Self-directed learning Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
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 lectures Every Week 2.00 2
Lecturer-Supervised Learning (Contact) Contact One-to-one contact with groups 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
 
Module Resources
Recommended Book Resources
  • Janet Crum and Samantha Schmehl Hines. (2019), Supporting Entrepreneurship and Innovaton, Emerald Publishing Limited, [ISBN: 9781789732054].
  • Ron Immnick & Brian O'Kane. (2010), 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: 978027371707].
Supplementary Book Resources
  • Thomas. M. Cooney. (2010), Enterprise Cases: looking beyond commercial, 1st. Lambart Academic Publishing, Dublin, [ISBN: 9783838355641].
  • Eric Reis. (2011), The Lean Start-Up: how constant innovation creates radically successful businesses, 1st. Portfolio Penguin, London, [ISBN: 978067092160].
  • Joseph Tidd and John Bessant. (2015), Innovation and Entrepreneurship, 3rd. Wiley, [ISBN: 9781119089438].
  • 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 Venturing.
  • Journal, Entrepreneurship Theory and Practice.
  • Journal, Harvard Business Review.
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_FHEBU_8 Bachelor of Arts (Honours) in Home Economics and Business 6 Mandatory