MM302-Entrepreneurial Project

Module Provider: Leadership, Organisations and Behaviour
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Autumn / Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2019/0

Email: keith.heron@henley.reading.ac.uk

Type of module:

Summary module description:

New venture start-up involves more than generating a creative idea…it involves starting-up or taking action. 

In this module we expect a student to have done something to test out their start-up hypothesis, in order to build their own and potential investor confidence, prior to venture launch.

A start-up business plan is not a measure of entrepreneurial capacity. This module will not require a Business Plan as an assessment but it will require students to report and explain the learning from their progress towards start-up.

Aims:

This module will provide the knowledge, encouragement, and support for students to:

• discover an opportunity for a business idea and generate their creative idea

• package that idea into a ‘value proposition’ and then (the important aspects for learning), 

• take some ‘risk’ in testing out their value proposition hypothesis to receive feedback and reactions from fellow students as well as the tutor

• Learn from feedback to enhance the value proposition hypothesis

The module aims to simulate the experience of entrepreneurs in start-up incubators who receive support from fellow start-ups alongside more formal coaching and mentoring. 

Assessable learning outcomes:

Theoretical Knowledge:

Be able to understand and use concepts in entrepreneurship to describe, discuss and appraise an opportunity  

Be able to create the innovative idea matched to the opportunity 

Understand what is a Value Proposition, with its component parts

Application of Theory:

Have demonstrated testing of the Value Proposition which is the package of the idea and its purpose for an intended customer

Have analysed and understood the results of the testing

Have demonstrated an understanding of the feasibility factors that support the VP- usually represented within a model known as the Business Model Canvas

Have created and then refined their original idea – modified by reflecting on feedback received- to produce a Value Proposition that they have more confidence in, and which may be launched, post degree

Personal development:

Have acquired (in a portfolio) demonstrable evidence for potential investors and enhanced their employability.

International Awareness:

Interacted with students of different nationalities and exchanged and learned from cultural market intelligence.

Additional outcomes:

Enhanced personal confidence and competence for ‘start-up’

Organisation, competence and confidence in presenting to a large classroom cohort 

Demonstrated Enhanced reflection capabilities (which is essential for students wishing to progress to Masters (Level 7) 

Outline content:

Entrepreneurs and Entrepreneurship, sources of opportunity, personal alertness, creativity and idea generation, marketing, selling, team building and team dynamics, social capital, business model analysis, crowdfunding as a source of customer interest. 

Brief description of teaching and learning methods:

This course is highly interactive and reliant upon personal initiative and action taking. Lecture classes are not traditional lectures as they are comprised of a combination of mini-lectures and interactive group work. 

The initial classes provide the theoretical information and resources for discovering the opportunity, which is to be presented in Task 1 as your individual business hypotheses- or version 1 Value Proposition.

There is then a 4-5-week period where there are no classes to allow time for this 1st phase of problem discovery and idea incubation to occur, before classes resume in late Autumn term when initial ideas are developed and tested in peer to peer tests.

Spring term has 3 further classes to help understand the feasibility of ideas and to revise ideas prior to Task 2 crowdfund testing. The emphasis here requires students to be proactive in risking their personal credibility by presenting their VP hypothesis, in order to receive feedback and reactions from students and tutor and respond to that feedback by enhancing their VP. 

The majority of the learning will be self-guided in response to the particular needs of the chosen project under the guidance and mentoring of your lecturer/module convenor.

Summative assessment- Examinations:
No examination

Summative assessment- Coursework and in-class tests:

Entrepreneurs have limited resources and this module aims to replicate the experience of limited resources. 

Please do not try to invent new technology, as that is unrealistic within the scope of this module. Please find a re-use existing technology/knowledge in a novel way to create a novel concept that can be tested with your intended target customer audience within the financial limits that are provided for your Task 3 customer engagement test (£3000). 

The purpose of the Task 1 and 2 tests is to receive real information that helps each student learn and modify their idea as it progresses to market launch. 

It is recognised that more than £3000 will usually be required to fund the actual launch, but this module is intended to build confidence, through demonstrated tests, to go on a launch the idea post module completion.

Students shall complete Task 1 in individual mode but for Task 2 they can ‘opt-in’ and create mini groups of up to 4 students. 

This is to provide opportunities for students to act as if being entrepreneurs, as in real life entrepreneurs will merge similar ideas to create more effective value propositions.

3 assessment tasks:

Task 1 (0 %). This is compulsory and marks may be deducted from Task 2 if not completed. It involves the testing of ideas (method to be advised) at that stage of development and receiving feedback from the tutor and fellow module members to enable you to refine this into a Task 2 crowdfund campaign (offline). 

This is an individual task.

Submission Autumn term Week 11

Task 2 (40 %) is an ‘offline’ crowdfund campaign is for obtaining ‘coins. 

This can be completed in teams of up to 3 people.

Submission Spring term Week 7

Whatever the outcome of the peer voting to award coins, each student idea (not each student) will be given an imaginary £3000 to create an additional start-up test that is reported in Task 3. Task 2 involves 10% of the marks based upon a ranking from other students’ allocation of funds and 90% from tutor evaluation of the campaign. 

Task 3 (60 %) is a report that asks you to reflect upon Task 2 with a report on their own unique perspective of learning, with imaginative design of the ‘what next’ customer engagement test and how you will use the imaginary £3000 to create a new start-up test of your enhanced VP. 

This is an individual task with a reflective component.

Submission Spring Term Week 11+3 (depending upon the timing of Easter and examinations)

Formative assessment methods:

Lecturer and peer observation and comments from informal presentations made in classes.

In addition there are self reflection learning opportunities:

1-Reflecting on the words you used in your presentation of Task 1 and your Task 2 campaign and your immediate and delayed responses to those words- this is actually the most important of your feedback. You need to practice your words until your confidence grows and you are authentic in your communication- when under pressure.

2- Reaction from your peers is the second type of feedback which indicates if your Value Proposition was understood. Unless they understand it, they can't support it, or buy it, or invest in it.

3-There is feedback based on the ranking order from the votes of other students.

4- There is feedback from the tutor in the form of summative marks and formative comments.

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. 

(Please refer to the Undergraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guideUG.aspx)

The Module Convener will apply the following penalties for work submitted late, in accordance with the University policy. 

•  where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;

•  where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work

Assessment requirements for a pass:
40%

Reassessment arrangements:

By individual submission of a new task, by September of the same year.

Additional Costs (specified where applicable):

Specialist equipment or materials - Under £100: For video editing software, but usually a free version can be obtained.

Last updated: 19 July 2019