Full Title Business Management and Entrepreneurship

Short Title Business Mgmt and Entreprnship

Code MGMT09010
Level 09
Credit 05

Author Coll, Brian
Department Mech. and Electronic Eng.

Subject Area Management
Attendence N/A%
Fee

Description
This subject takes a potential entrepreneur through the process of starting a business, from first thoughts about self-employment to the practicalities of start-up. The student will be required to generate a new Business Plan for a start-up business.

For those students already in employment, this module will focus on 'intrapreneurship'. Intrapreneurship is the process by which companies seek to maintain their competitive edge in innovation and profit by asking employees to spawn new businesses within their company. This module would provide the student with a greater understanding of what it would take to run a particular aspect of the company, perhaps a new product line, department or subsidiary.

Key reasons major corporations encourage intrapreneurship are:

Technology and globalisation are increasing competition. Companies that can pounce quickly on new opportunities will have an advantage over slower competitors.

A recent McKinsey report shows that a company's chances of holding on to a top position are fading. The key player in any industry will have a tougher time holding onto the top spot now more than ever. Leaders must become flexible and entrepreneurial.

Employee loyalty is ending. If employees feel their great idea would be better received by the competition, they will leave more quickly than ever before. Take, for example, the case of Palm. The company grew large; it started stifling intrapreneurship, and the founders left to start Handspring. Then Palm realised its mistake and purchased Handspring back at a huge cost.



Topics to be addressed include:
  • What makes a good entrepreneur / intrapreneur?
  • Developing a strategy
  • Market Research, Marketing & Advertising
  • Innovation
  • Financial support
  • Preparing budgets and cashflow statements
  • How to generate a business plan
  • How to present your plan to potential investors


It is not required that the proposed new business will be taken any further than the end of the academic year. The marking criteria will take into account how innovative the idea is, that the plan is realistic (potential sales, market share, market research, financial projections) and that students have addressed the main issues including staffing, funding, and route to market.

Note: Guest lectures from industry and government agencies will be utilised on this course.

Indicative Syllabus
Indicative Syllabus

This subject provides practical relevant information in management, entrepreneurship and intrapreneurship. It takes a student through the process of starting a business.

The course covers the steps necessary to develop a business plan, including the mission statement, strategy, marketing, staff, finance, taxation and premises, and presenting the business plan.

Syllabus Content: Market Research, Competitiveness, Feasibility studies, Business plan, Accounting, Operating budgets, Cash Flow, Quality, Taxation, Assistance - State Agencies, Employment Contracts, Intellectual Property, Trading Laws, Innovation, Entrepreneurship and Intrapreneurship.



Indicative Practicals/Projects
  • Completion of Checklists, flowcharts and questionnaires on Management & Entrepreneurship
  • Conduct Market Research analysis
  • Generation of Cash Flow Statements
  • Generation of Production and Capital Expenditure Plans
  • Various practicals to include costing, production planning, quality, facility layout and capital expenditure requirements.
  • Generation of Operating Budgets
  • Completion of Business Plan document.
  • Presentation of Business Plan

Learning Outcomes
On completion of this module the learner will/should be able to
  1. Prepare a Market Research and Feasibility Study for a new manufacturing or service business

  2. Develop a Strategy, Mission Statement and Vision for the new business.

  3. Identify the optimum business and legal structure and manage Intellectual Property requirements for the new business

  4. Generate financial statements, operating budgets and cash flow statements.

  5. Integrate all of the above items in order to prepare and present the business plan to a group of potential investors, state agencies and financiers


Assessment Strategies
Business Plan Assessment Criteria

1) Project Concept - is the proposed product/service innovative or an import substitution. Is it feasible and is there a market for it?

2) Planning and Projections - has the market been thoroughly researched and potential competitors identified? Have the capital investment and operational cash requirements been identified and estimated realistically?

3) Professionalism of Approach - have all aspects of the business been fully considered and are the necessary practical skills in place to deliver on the concept?

4) Presentation - is the submission presented clearly, in an easy-to-read format?

Module Dependencies
Pre Requisite Modules
None
Co Requisite Modules
None
Incompatible Modules
None

Coursework Assessment Breakdown %
Course Work / Continuous Assessment 100 %

Coursework Assessment Breakdown

Description Outcome Assessed % of Total Assessment Week
Continuous Assessment Ongoing 1,2,3,4,5 100 OnGoing


End Exam Assessment Breakdown

Description Outcome Assessed % of Total Assessment Week


Distance Learning Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Part Time Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload
Lecture Distance Learning Suite Lecture 2 Weekly 2.00
Tutorial Distance Learning Suite Tutorial 1 Weekly 1.00
Independent Learning Not Specified Moodle activities 5 Weekly 5.00

Total Average Weekly Learner Workload 3.00 Hours

Full Time Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Online Learning Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Resources
Book Resources
Authors

Title

Publishers

Year

O'Kane, Brian

Starting Your Own Business, 6th Edition. ISBN 9781904887379

Oak Tree Press

2010

Gazely , Alicia Lambert, Michael

Management Accounting, ISBN-10: 1412918847

Sage Publications Ltd

2006

Norman, Donald

The Design of Everyday Things

The MIT Press

2010

Modwenna Rees-Moog

Dragons or Angels

Crimson

2008
Other Resources
Listed on Moodle course site

Url Resources
Listed on Moodle course site
Additional Info