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Unit information: New Venture Creation in 2018/19

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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 Dr. Tom Ellson
Open unit status Not open




School/department Centre for Innovation
Faculty Faculty of Arts


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 details

10 x 2-hour seminars

Assessment Details

The unit will be assessed by (i) an individual 2000 – word essay worth 40% critiquing enterprise/new venture creation methodology or trends and (ii) a business model creation and presentation in groups worth 60% (which will include peer assessment).

The essay intends to assess the application and evaluation of different tools and techniques for the development of new ventures (ILOs 1 & 3).

The group exercise intends to give a holistic view of being an entrepreneur and its context while at the same time develop teamwork and leadership skills (ILOs 1, 2, 3 & 4).

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