New Venture Creation

Programme:	Undergraduate
Module Code:	N11601
Semester:	Spring
Convenor:	Chris Mahon
Credits & Level:	10 credits; Level 1
Pre-requisites:	N11440 (Entrepreneurship and Business).
Co-requisites:	None.
Target Students:	Available to all students. Core module for Modern Languages with Business (qualifying year) and Elec Eng with Mgmt Studies (qualifying year) students. Optional module for Computer science and Management (qualifying year)
Delivery:	11 two-hour sessions - mixed delivery - 7 hours lecture-based and 4 hours mentored group work/practical enterprise activity.
Assessment:	One 1-hour examination (35%); One 1,500 word Individual Report (55%); Integrative Learning Barometer (250 words per submission) (10%)
Exam Format:	Answer One question from a choice of Four.
Summary of Content	New Venture Creation will engage students in the more practical elements of innovation and enterprise activity, not just in terms of creating new businesses, but also in terms of entrepreneurship within the corporate environment. This module will prepare students for enterprise activity across a variety of contexts. Central to this will be the following key concepts: Opportunity recognition, evaluation and exploitation Innovation Environmental Analysis Understanding and Managing Risk The Strategy Process Market Research and the Marketing Plan Finance and Funding
Aims	Students will engage in both integrative and reflective learning on this module and will be encouraged to build on the skills developed on the Entrepreneurship and Business module with a view to turning good ideas into viable businesses. By the end of the module students will have developed a greater understanding of the various aspects involved in creating a new venture, including marketing, strategy, financial analysis and the business environment. By the end of the module students will have accumulated the information and skills necessary to produce a formal business plan. Students will develop transferable skills in team working, time management, self- reliance and visual and oral communication. Students will not be asked to write a business plan as part of the requirements for this module.
Key Words:	New Venture Creation; Entrepreneurship; Enterprise; Opportunity.
Learning Objectives & Outcomes	Knowledge and understanding This module develops a knowledge and understanding of: The development and operation of markets for resources, goods and services. Customer expectations, service and orientation. The sources, uses and management of finance. The management of resources and operations. A range of contemporary and pervasive business and management issues including (at the time of writing) business innovation, e-commerce, creativity and enterprise, knowledge management, sustainability, globalization, business ethics, values and norms Intellectual skills This module develops: The cognitive skills of critical thinking, analysis and synthesis, including the ability to identify assumptions, evaluate statements in terms of evidence, to detect false logic or reasoning, to identify implicit values, and to define terms adequately and to generalise appropriately. Effective qualitative problem solving and decision making skills. The ability to create, evaluate and access a range of options, together with the capacity to apply ideas and knowledge to a range of business and other situations. Professional practical skills This module develops: The ability to apply business models to business problems and phenomena. Self awareness, openness and sensitivity to diversity in terms of people, cultures, business and management issues. Effective performance within a team environment, including leadership, team building, influencing and project management skills. Transferable (key) skills This module develops: Effective oral and written communication skills in a range of traditional and electronic media. Effective self-management in terms of time, planning and behaviour, motivation, self-starting, individual initiative and enterprise. Learning to learn and developing an appetite for reflective, adaptive and collaborative learning. The interpersonal skills for effective listening, negotiating, persuasion and presentation.

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New Venture Creation

Nottingham University Business School