Module Code - Title:
EP4407
-
ENTERPRISE DEVELOPMENT
Year Last Offered:
2023/4
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
Creating a new venture is a challenging task, one that requires specific technical and business knowledge as well as general business and entrepreneurial skills and competencies. The aim of this module is to introduce students to the stages involved in the establishment and management of a new business. This includes opportunity recognition, analysis of market potential, the analysis and acquisition of resources required to capture market opportunities and the launch of a new business. In addition the module content explores the backgrounds, motivations, characteristics and skills of enterprising individuals. On completion of the module the student will have a better understanding of the issues involved in forming a business enterprise. The module will serve as a strong foundation for those aspiring to own and operate their own business.
Syllabus:
The module will address the following topics- Understanding the role and importance of the small firm sector to the Irish economy. The entrepreneur/owner/manager characteristics and classifications; identification and evaluation of business opportunities; product/service development; market research; industry analysis; market/sales strategies; management structure; manufacturing/operations; sources of start-up finance; financial projections (projected cashflow, profit and loss and balance sheet); managing the new business (people and process management) and exit strategies for a new business
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
Understand the role and contribution of the small firm to an economy
Comprehension of the methods and sources of new business ideas
Knowledge of how to evaluate and screen new business opportunities from a business and technical perspective
Gain an insight into the range and type of supports (commercial and non commercial) available to assist in the establishment of a new business
Understand the importance of having a professionally completed feasibility study and business plan.
Knowledge in the format, design and presentation of a business plan.
Affective (Attitudes and Values)
Increased self awareness of personal entrepreneurial skills, behaviours and attitudes.
Self assessment of attitude towards risk taking, working on your own and managing people and finances
Development of analytical and critical thinking and decision making skills.
Develop writing and editing skills for the various audiences that may read the business plan.
Enhance communication, presentation, and networking skills.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
Formal lectures will be held on the theoretical aspects of establishing a business; assessing viable business ideas, investigating the market and assessing customer demand, formulating a business plan and identifying sources of finance. Workshop sessions will be used to support students in developing their business plans.
Students are encouraged to read appropriate publications such as Irish Entrepreneur, Business Plus and Business & Finance for insights that relate to the various topics covered in the module. A key element of the learning for students is through team work. Groups made up of approximately 3-4 students (or individually if preferred) will be responsible for the identification of a new business or business expansion idea and the production of a business plan (approx 20-25 pages).
Research Findings Incorporated in to the Syllabus (If Relevant):
N/A
Prime Texts:
Cooney, T.M. and Hill (2002)
New Venture Creation in Ireland
, Oak Tree Press
Other Relevant Texts:
()
www.entemp.ie
,
()
www.bizplus.ie
,
()
www.entrepreneur.com
,
()
www.enterprise-ireland.ie
,
Programme(s) in which this Module is Offered:
Semester - Year to be First Offered:
Autumn
-
08/09
Module Leader:
yvonne.costin@ul.ie