This course provides an introduction to business and entrepreneurship. It introduces strategies to assess the potential of a new business concept and thus improve the likely success of high-impact ventures.
The aim of the course is to give an understanding of strategies for the assessment of a new business opportunity along with techniques for effective business planning to secure the necessary resources (including finance).
The course introduces frameworks to assess and to mitigate key risks to new ventures including those relating to personnel, markets and technologies.
The course will draw on a range of case studies mostly from high-technology ventures to illustrate the challenges of creating high potential enterprises.
By the end of the course students should:
- understand the difference between a nice idea and a true opportunity
- be able to respond to the marketing challenges faced by ‘new-to-market’ products
- understand the importance of building effective teams and relationships to support new venture creation
- be able to demonstrate financial literacy in interpreting published and internal financial information and be aware of the importance of capital and revenue budgeting in planning and controlling new business venture
- understanding the various sources of finance (conventional and unconventional) and to know how to make a case to financial investors
Evaluation Report 60%, Presentation 40%
Current students should refer to Moodle for specific details of the current year’s assessment.
- Osterwalder, A. et.al. 2014. Value Proposition Design: How to Create Products and Services Customers Want. Wiley.
- Maurya, A. 2016. Scaling Lean – Mastering the key metrics for startup growth. Portfolio
- Mullins, J. 2006. The New Business Road Test. FT Prentice Hall
- Ries, E. 2011. The Lean Startup. Penguin