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Module Title: New Venture Creation

Available Routes:

Elective Module—All Routes

Module Overview:

Entrepreneurs and small firms are the lifeblood of an economy, and make an increasing contribution to innovation, wealth creation and employment. This module will provide a detailed insight into the concepts of entrepreneurship and the role of small firms within the economy. It will encourage participants to develop a critical awareness of the nature and role of the entrepreneur in the economy and society. Students will learn the processes involved in new venture creation and creating business plans. They will develop an appreciation of the different types of firm, from business start-ups, through family businesses to franchises and the diverse skill sets these require.

Aims & Objectives

On completing this module students will:

  • Understand the terms “entrepreneur” and “owner/manager” and the differences / similarities between them.
  • Understand the entrepreneurial role in relation to the formation and development of a small business;
  • Have an understanding of the development and complexities of other forms of businesses such as franchises and family businesses;
  • Understand the purpose of a business plan
  • Be able to draw up a business plan of sufficient depth and standard and to tailor the plan to differing reader interest
  • Be able to extract the relevant information from a business plan created by others.

Key Text:

New Venture Creation: Entrepreneurship for the 21st Century—S Spinelli & R Adams

Means of Assessment:

This module is assessed by means of a single mini-project of 5,000 words in length.

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