Launching New Ventures
| Code | School | Level | Credits | Semesters |
| BUSI4546 | Nottingham University Business School China | 4 | 20 | Autumn China |
- Code
- BUSI4546
- School
- Nottingham University Business School China
- Level
- 4
- Credits
- 20
- Semesters
- Autumn China
Summary
Launching New Ventures will introduce students to the more practical elements of innovation and enterprise activity across multiple contexts, including not just new venture creation but corporate and social entrepreneurship as well. Whereas Entrepreneurship and Creativity focuses on idea generation and entrepreneurial theory, Launching New Ventures will prepare students to recognise opportunities, and to implement innovation and enterprising ideas. The ability to make informed and timely decisions will be an important aspect of this, and the module will use a start-up business simulation to encourage this.
Target Students
Core module for EB16 Entrepreneurship, Innovation and Management students
Classes
- Two 2-hour lectures each week for 11 weeks
Total Contact Hours - 44 hours Background reading - 78 Coursework preparation - 78
Assessment
- 60% Coursework 1: Coursework – individual based on group work 3,000 words max.
- 20% Coursework 2: Individual reflection. 2,000 words max
- 20% Presentation: Group presentation. 10 minutes plus 10 minutes Q&A, PowerPoint slides to be submitted via Moodle.
Educational Aims
The module will help students build skills across a number of areas central to the entrepreneurial experience, including:- Opportunity recognition, evaluation and exploitation- Innovation assessment and management- Environmental analysis- Understanding and managing risk- The strategy process- Market research and the marketing plan- Finance and Funding- Intellectual property rightsStudents will learn through a mixed delivery model, which will include formal lectures, group work and sessions with visiting entrepreneurs. Students will also engage with a start-up business simulation (SimVenture), designed to introduce players to the complexity of entrepreneurial decision making.Learning Outcomes
Knowledge and understanding: This module develops a knowledge and understanding of:
Markets - the development and operation of markets for resources, goods and services
Marketing and sales – different approaches for segmentation, targeting, positioning, generating sales, and the need for innovation in product and service design
Customers and stakeholders - customer expectations, service and orientation
Finance - the sources, uses and management of finance
The use of accounting and other information systems for managerial applications
People – strategic and operational HRM, meeting future organisational requirements, people development, HR systems
The management of resources
The management of operations
The management of procurement
Communications – the comprehension and use of relevant communications for application in business and management, including the use of digital tools
Business innovation – creativity, intrapreneurial – and entrepreneurial behaviour and enterprise development, and the management and exploitation of intellectual property
Leadership and management of people within organisations – leadership, organisational behaviour and motivation
Intellectual Skills: This module develops:
Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
Professional Practical Skills: This module develops:
The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting
The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of quantitative data, synthesis and reporting
Effective performance within team environments and the ability to recognise and utilise individuals' contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management. Leadership and performance management: selecting appropriate leadership style for different situations; setting objectives, motivating, monitoring performance, coaching and mentoring
The ability to recognise the need for and initiate change and to be able to manage change
Transferable (key) Skills: This module develops:
Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience
Soft skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and in different situations
Conveners
- Dr Fei Zhu