MM270-Practice of Entrepreneurship

Module Provider: Leadership, Organisations and Behaviour
Number of credits: 20 [10 ECTS credits]
Level:5
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Prof Norbert Morawetz
Email: n.morawetz@henley.ac.uk

Type of module:

Summary module description:

This is a dynamic module introducing students to key concepts of business start-up. Students work in a team to identify and develop a new business opportunity, and then seek to test their idea through ‘lean start-up’ experiments. Students will be introduced to key concepts of entrepreneurial management including design thinking, business model creation, entrepreneurial finance and marketing. This is a highly interactive and practical module, with a focus on experiential learning.

Aims:

• Students will explore the nature of enterprise and entrepreneurship and its importance for economic development. 

• Students will develop an understanding of what is required to start and manage a new venture and will be able to apply basic 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:

The module intends to build an entrepreneurial mindset in students as part of the entrepreneurial journey while also developing the necessary soft skills that are needed to excel in the world of work for both intrapreneurship and entrepreneurship. 

Assessable learning outcomes:

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

• To develop a idea into a venture plan

• To test a business value proposition using lean start-up methods

• To apply effectual entrepreneurship principles

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

• To discuss financing sources to support a new business venture

• To apply standard management practices including meetings, action planning, allocation of work etc.

• To explain financial reporting processes including cash flow

Additional outcomes:

By working through this module, students will have opportunities to develop a range of basic entrepreneurial skills including: 

• Business planning 

• Communication and interpersonal skills

• Creative problem-solving

• Opportunity awareness 

• Organisational skills

• Networking skills

• Presentation skills

• Team-working skills

Outline content:

• Entrepreneurial mind-set, entrepreneurs, entrepreneurial process 

• Ideation and design thinking

• Effectuation 

• Business models, Business model canvas, business model patterns 

• Viability, desirability and feasibility 

• Lean start-up, validation experiments, customer research

• Project-management and team-management

• Cashflow, cost & profit, pricing strategies

• Presenting the business idea 

• Financing for start-ups

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 semester. Sessions are comprised of a short delivery of content on the key areas above. This is followed by a series of individual and team activities. Following the ideation and lean start-up workshop, student teams will in the second half of the term plan their new business ventures. In the final phase of their projects, drop-in sessions/ mentoring with core teaching staff will replace classroom activity.

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

In-class test: 40% During week 10 of Autumn Term

Group Pitchdeck 30% ( Written assignment)-  During week 1 of Spring Term

Individual Oral Viva 30% (Oral assessment and presentation) -  During week 2 of Spring Individual oral viva.

Total: 100%

Formative assessment methods:

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: 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:
Reassessment by coursework.

Additional Costs (specified where applicable):

Last updated: 31 October 2023