MGMT09010 2019 Business Management and Entrepreneurship

General Details

Full Title
Business Management and Entrepreneurship
Transcript Title
Business Management and Entrep
Code
MGMT09010
Attendance
N/A %
Subject Area
MGMT - Management
Department
MENG - Mech. and Electronic Eng.
Level
09 - NFQ Level 9
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2019 - Full Academic Year 2019-20
End Term
9999 - The End of Time
Author(s)
Barrie Cox, Brian Coll
Programme Membership
SG_SPROJ_M09 201900 Master of Science in Science in Project Management SG_SMECH_S09 201900 Level 9 Special Purpose Award in Science in Mech & Elec Quantity Surveying SG_SPROJ_O09 201900 Postgraduate Diploma in Science in Project Management SG_SWATE_M09 201900 Master of Science in Water Services Management SG_SWATE_A09 201900 Certificate in Water Services Management SG_SWATE_O09 201900 Postgraduate Diploma in Science in Water Services Management SG_SSTRA_S09 201900 Certificate in Strategic Construction Management
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 cash flow 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.

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

Teaching and Learning Strategies

The online teaching and learning strategy will follow the guidelines as developed by Quality Matters: http://www.qmprogram.org/

Unique to the Quality Matters Rubric is the concept of alignment. This occurs when critical course components - Learning Objectives (2), Assessment and Measurement (3), Instructional Materials (4), Learner Interaction and Engagement (5), and Course Technology (6) - work together to ensure students achieve desired learning outcomes.

Module 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?

Repeat Assessments

Repeat Assessments

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

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Outline Business Plan (brief preliminary document) Continuous Assessment Assessment 30 % OnGoing 1,2,3,4,5
2 Full Business Plan Submission Continuous Assessment Assessment 70 % End of Semester 1,2,3,4,5
             

Online Learning Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Distance Learning Suite Lecture 1 Weekly 1.00
Directed Learning Not Specified Directed Learning 1 Weekly 1.00
Independent Learning Not Specified Independent Learning 4.68 Weekly 4.68
Workshop Not Specified Workshop 0.32 Weekly 0.32
Total Online Learning Average Weekly Learner Contact Time 2.32 Hours

Module Resources

Non ISBN Literary 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

Journal Resources

_

URL Resources

Listed on Moodle course site

Other Resources

Listed on Moodle course site

 

Additional Information

Listed on Moodle course site