| Unit name | Entrepreneurship and Innovation |
|---|---|
| Unit code | EFIMM0155 |
| Credit points | 30 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2D (weeks 19 - 24) |
| Unit director | Dr. Wang |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Management - Business School |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
The business world is changing rapidly, and new technologies are creating not only new companies but entirely new ways of working. Therefore, entrepreneurship is very much a current theme in our life. Small start-ups are disrupting established businesses and established companies are trying to innovate new products and services to remain relevant and retain market shares. The topics covered in the unit offer the knowledge needed to test business ideas and build new ventures. The unit engages students in in-class discussions of practical and thought-provoking case studies from the academic literature and the news.
How does this unit fit into your programme of study?
This unit is a capstone unit for the MSc Management (Entrepreneurship and Innovation) program. It is designed for students to synthesize what they have learnt in other units before to come up with their business ideas and write their business plans. Students will learn about the complexity of balancing between the process of experimentation and learning inherent to entrepreneurship with the selection and implementation of a strategy to establish a competitive advantage. It also provides subject knowledge for their dissertation.
An overview of content
In this unit, students will learn about how to spot and seize opportunities and to advance the skills and techniques to develop and test a new business idea. The unit covers methods for creating and capturing values by selecting technology, customer segments and entrepreneur’s identity. The unit introduces frameworks to assess and choose appropriate entrepreneurial strategies to launch new businesses. It also introduces some techniques such as strategic learning and experimentation to sustain and scale up new ventures.
How will students, personally, be different as a result of the unit?
With this unit, students will have formed a deep understanding of the theory and practice of setting up an enterprise. They will have acquired knowledge of how to develop business plans. They will develop critical thinking skills to evaluate a diverse range of information related to innovation and entrepreneurship. After taking this unit, students will be empowered to create a sustainable and successful enterprise.
Learning Outcomes
On successful completion of the unit students will be able to:
ILO 1. Explain the theory and practice of setting up an enterprise.
ILO 2. Synthesize frameworks, tools, techniques and skills to develop a robust business plan in a dynamic environment.
ILO 3. Engage strategic thinking to create a sustainable and successful enterprise.
ILO 4. Balance the process of experimentation and learning inherent to entrepreneurship with the selection and implementation of a strategy to establish competitive advantage.
Teaching takes a student-learning centred rather than a teacher-centred approach, with a focus on active learning. There will be three two-hour lectures and one three-hour workshop each week and the unit lasts for five weeks. There is a variety of teaching and learning activities to offer a rounded and stimulating experience. In addition to the traditional academic taught lecturers, there will be guest lecturers taught by entrepreneurs and venture capitalists. Students will also learn knowledge through case studies, simulations, debates and group discussions. Students will also have the opportunity to work on a startup hackathon. To gain full experience of the teaching and learning activities, students are required to do some preparation reading and activities before the sessions. All learning material will be available on the unit’s Blackboard page. Additional readings will also be provided on Blackboard to support students who wish to acquire deeper learning about entrepreneurship and innovation.
Tasks which help you learn and prepare you for summative tasks (formative):
Constructive criticism and advice are critical to all new and emerging ventures so we provide it as an ongoing feature of this module. Each week you will be expected to report back on the progress you’ve made since the previous session, discussing ideas, developments, opportunities, research conducted, and tests completed. This might include producing rough drafts of elements of the plan, workbook or pitch. Whilst tutors will not review drafts of the whole documents, they may review high-level elements of work on a rolling basis.
Tasks which count towards your unit mark (summative):
There are two main summative assessments: a group business plan portfolio (50%) and an individual oral assessment (50%).
For the business plan portfolio, students should form a small group. The business plan should be no more than 4,500 words and provide comprehensive coverage of all the critical components of a business plan for a start-up. (ILO1, ILO2, ILO3, ILO 4)
In terms of the individual oral assessment (duration 15 minutes), each student needs to highlight the key points in the business plan which they feel have particular merit and will give them an advantage over others. They will be asked about the specifics of their business plan and their contribution to the business plan. They should also have a good understanding of the basic theories/frameworks they used in the business plan. (ILO 1, ILO2, ILO 3)
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed on a like-for-like basis.
Students who fail the Business Plan Portfolio will be reassessed through an Individual Business Plan Portfolio providing comprehensive coverage of all the critical components of a business plan for a start-up. (2,000 words) (50%) [ILOs 1-4]
Students who fail the individual oral assessment will resit the oral assessment (15 minutes) (50%) [ILOs 1-3].
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIMM0155).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
