MM1F17-Business Synthesis
Module Provider: Leadership, Organisations and Behaviour
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2020/1
Email: m.joseph@henley.ac.uk
Type of module:
Summary module description:
This module is built around an engaging, cloud based business simulation in which students generate enquiries, sales and orders and build a successful company within the simulation environment. Working in simulated quarterly cycles, students explore decision-making in key areas of business (Organisation; Sales & Marketing; Finance; and Operations) and receive feedback to see the consequences of their actions.
Aims:
The aim is to provide students with a general and practical understanding of the nature of business, from the startup phase throughout the initial business growth phase. Students will explore key functions of business (Organisation; Sales & Marketing; Finance; and Operations) and how they are interrelated.
Students will plan the activities they want to carry out in a cycle/turn in the game. They will then discuss, analyse and document the results of their decisions, which will inform their decision-making in the next cycle. They will also reflect how relevant business theories can be applied to the simulation scenario.
Assessable learning outcomes:
- To describe and discuss the challenges an SME faces in the early growth phase.
- To describe and explore the interrelationship between marketing, sales, operations and finance.
- To discuss concepts such as sales channels, segmenting, marketing and promotions, pricing strategies and costing
- Basic financial forecasting
- Organise and communicate information clearly and succinctly
- Critically assess selected academic, professional and media sources relevant to the study of business and management.
Additional outcomes:
This module will assist students to synthesize various parts of the part 1 curriculum building a foundation for more complex strategic business theories. It will also encourage students to work successfully in a team and reflect on one’s own effectiveness within that team.
Outline content:
Key concepts discussed will include
Enterprise startup and growth
Business Planning
Choose a market segment and analyse the competitive environment
Sales and Marketing
Achieving product/ market fit
The importance of price and costing
Key considerations of operations & supplier management
Managing growth
Basics of performance review
Business decision making
Brief description of teaching and learning methods:
The principal teaching will take place in tutorials and class discussions. Lectures will introduce students to key business concepts and theories that will then be practically explored in tutorials within the simulation. The simulation allows a highly playful, experiential and iterative learning process, whereby students can safely analyse the outcomes of their business decision-making, then adapt their strategy until an optimal outcome is reached. At the end of the term students will be give n a business scenario in which they need to achieve a high profit. This module is built around self-directed learning, it is mandatory that students engage with the simulation outside of the classroom.
| Autumn | Spring | Summer | |
| Lectures | 2 | ||
| Seminars | 9 | ||
| Guided independent study: | |||
| Wider reading (independent) | 15 | ||
| Other | 54 | ||
| Preparation for seminars | 5 | ||
| Essay preparation | 15 | ||
| Total hours by term | 0 | 100 | 0 |
| Total hours for module | 100 |
| Method | Percentage |
| Written assignment including essay | 65 |
| Portfolio | 35 |
Summative assessment- Examinations:
Summative assessment- Coursework and in-class tests:
Portfolio and poster presentation: Students will be given a business scenario within the simulation as an assignment, and they will have to achieve an optimal outcome within a set number of turns. Students are required to submit a poster presentation on their performance and strategy, alongside a reflective portfolio of documenting their experiences, strategy and decision making to achieve their goals. Submission of 3 – 4 A4 pages (minimum 400 words, max 750 words), submission in Week 9. Assessment can be done individually or in groups of up to 4 students.
Individual Written Assignment: 1500 word essay, students will be expected to submit an essay on simulations and entrepreneurial learning, submission in Week 11
Formative assessment methods:
Students will have the opportunity to get feedback during seminars, there will also be a timetabled drop in session for students to get 1-2-1 feedback individually or as a group. Students will also be expected to complete set exercises based on game play to support understanding of the software.
Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late:
- where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (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.
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:
Requirements for a pass: 40%
Reassessment arrangements:
By re-submission of individual written essay.
Additional Costs (specified where applicable):
Last updated: 19 June 2020
THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.