RE2MCRE-Managing Change in the Real Estate Sector

Module Provider:
Number of credits: 20 [10 ECTS credits]
Level:5
Terms in which taught: Autumn / Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Matteo Borghi
Email: m.borghi4@henley.ac.uk

Type of module:

Summary module description:

This is a dynamic module introducing students to key concepts of business start-up to support them to become disruptors in the real estate sector. Students will be trained in applying key concepts and practical tools derived from entrepreneurial management including design thinking, business model creation, entrepreneurial finance and marketing. They will also be briefed on a range of technological trends which are transforming economies and societies. Students will then be required to apply the entrepreneurial skills they have learned to develop their understanding of these trends, to enable them to succeed in delivering beneficial change in a real estate business environment. The key objective is to support the students in developing a business idea that will disrupt existing practices in real estate.

While the Autumn term focuses on developing students’ understanding of disruptive trends and their ability to think creatively for developing a disrupting business proposition, the spring term is focused on supporting students’ business idea generation through a series of mentoring sessions.

This module is delivered at the University of Reading and the University of Reading Malaysia.

Aims:

Across the two terms, this module seeks to develop students’ ability to think entrepreneurially, strategically, creatively and proactively about delivering change within a real estate context. Students will develop an understanding of what is required to start and manage a new venture in real estate and will be able to apply entrepreneurial skills in the areas of business planning, organising and marketing. Students will learn and apply standard business practices including how to organise meetings, business planning, opportunity evaluation, marketing and finance.

Assessable learning outcomes:

By the end of the module it is expected that students will be able to:

• describe, discuss and appraise: the process of business start-up; the nature and significance of enterprise and entrepreneurial development; entrepreneurship and intrapreneurship;


• understand a range of technological trends which have the potential to transform the real estate industry;


• classify, analyse and evaluate numerical data to seek solutions related to structured and unstructured problems;


• plan and develop a business idea into a venture plan for a real estate related business leveraging technology;


• explain financial reporting processes including cash flows;


• present a new venture business plan for a real estate related business.

Additional outcomes:

In addition, students should be able to:

• work successfully in a team and reflect on one’s own effectiveness within that team;


• understand the key principles of developing a marketing strategy;


• apply standard management practices including meetings, action planning, allocation of work;


• Communication and interpersonal skills;


• Creative problem solving;


• Organisational skills;


• Presentation skills;


• Team working skills.

Outline content:

• Entrepreneurship, entrepreneurial mindset, entrepreneurs, and entrepreneurial process;


• Project Management and team management.


• Opportunity identification and evaluation


• Business models, business model canvas, business model patterns.


• Lean start-up, validation experiments, customer research.


• Ideation and design thinking 


• Evaluation of desirability, viability and feasibility


• Marketing strategy


• Key technological trends


• Presenting the business idea


• Financial Reporting, cashflow, cost & profit, pricing strategies.

Global context:

The content delivered in this module has global relevance.

Brief description of teaching and learning methods:

This module uses a combination of academic study and experiential learning. Teamwork is central to many of the module’s activities. Students will be matched into teams at the beginning of the autumn term. Sessions are comprised of a combination of formal lectures, seminars, interactive group work, individual activities, presentations and student presentations. Following the ideation and lean start-up workshops, student teams will plan their new business ventures. In the final phase of t heir projects, drop-in sessions/mentoring with core teaching staff will replace classroom activity.

Contact hours:

	Autumn	Spring	Summer
Lectures	15	2
Practicals classes and workshops	9	6
Guided independent study:
Wider reading (independent)	35	22
Advance preparation for classes	12	20
Other	9	15
Group study tasks	20	35
Total hours by term	100	100	0
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Project output other than dissertation	40
Oral assessment and presentation	20
Class test administered by School	40

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

Individual in-class test (40%) - Week 2 Spring term (timetable week 21) 

Submission of the Team Enterprise Report (40%) - Week 8 Spring term (timetable week 27)

Group presentation pitching a new business idea to a group of investors (20%) - Week 9 Spring term (timetable week 28)

Formative assessment methods:

Formative feedback in the module will be provided by surgeries/mentoring sessions designed to support the students in the group work as they develop their ideas for pitching to the investors. Feedback from the investors will be given through surgeries after the group event.

Penalties for late submission:

The Support Centres 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 (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: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/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:

A mark of at least 40%.

Reassessment arrangements:

Individual test - 40%

Written assignment of 2,500 words - 60%

Additional Costs (specified where applicable):

Last updated: 22 September 2022