Unit information: New Venture Creation in 2020/21

Unit name	New Venture Creation
Unit code	INOV30004
Credit points	10
Level of study	H/6
Teaching block(s)	Teaching Block 2 (weeks 13 - 24)
Unit director	Mr. Sam Crawley
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	Centre for Innovation
Faculty	Faculty of Arts

Description including Unit Aims

This unit will explain how to set up a new venture, including both commercial entities and social enterprises. It will examine what areas need to be investigated to support the development of a successful and sustainable business model.

The curriculum will develop knowledge in two key areas: internal operating considerations and the impact of the external environment. Analysis of these areas will be used to translate concepts and ideas into attractive and feasible ventures.

In this context, the unit develops students’ understanding of the entrepreneur role, demonstrate a sequence of steps that entrepreneurs undertake, introduce a number of concepts such as risk-taking and the development of robust business plans.

Intended Learning Outcomes

At the end of the unit, it is expected that students will be able to:

1. Apply tools, techniques and skills to develop a robust enterprise plan,
2. Apply and evaluate business models and environments to an enterprise,
3. Reflect critically on their own entrepreneurial experience creating an enterprise, and
4. Apply strategic thinking to create a sustainable and successful enterprise.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions, including lectures and practical activities supported by collaborative and self-directed learning.

Assessment Information

100% coursework

The unit will be assessed through the submission of an enterprise venture plan.

The written venture plan makes a case for a commercial or social venture at the start-up stage. It will give students a holistic view of being an entrepreneur and its context whilst at the same time developing teamwork and leadership skills (ILOs 1, 2, 3 & 4). This group assessment is worth 100% of the unit marks.

Reading and References

• Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, Alexander Osterwalder and Yves Pigneur, John Wiley & Sons, ISBN: 978-0470876411, 2010.
• The Lean Start Up: How constant Innovation creates radically successful businesses, Eric Ries, Penguin Books, ISBN: 978-0670921607, 2011.
• The first mile, Scott Anthony, HBR Press, ISBN: 978-1422171769, 2014.
• The Realities of Being an Entrepreneur: The Social and Economic Aspects of Entrepreneurship, Tim Mazzarol, 2018
• Entrepreneurship: Global Edition, Bruce R Barringer, 2015
• Value Proposition Design: How to Create Products and Services Customers Want, Alexander Osterwalder, 2014