The module introduces the concepts of entrepreneurship and business growth and provides an opportunity to begin exploring their practice, particularly in relation to innovative businesses. Entrepreneurship is defined as a set of behaviours and also as process through which opportunities are discovered, evaluated and exploited. Once a new venture is created however, a major challenge faced by many entrepreneurs is how to grow their new businesses using different growth strategies, in order to ensure the survival and long-term sustainability of the new enterprises. The importance of entrepreneurship and business growth is underlined in national and international policy initiatives in both advanced and developing countries. You will learn about issues related to sustainable development and business ethics, particularly in the areas of entrepreneurship. The module covers entrepreneurship not just in the developed countries but also in developing countries. Therefore, case studies, videos and examples will be drawn from entrepreneurs and entrepreneurial organisations in different parts of the developing world, such as India, China, Nigeria, Kenya and other developing countries. Through this module you will explore and develop your own entrepreneurial capabilities including creative problem solving, idea exploration, business model and development of growth strategies. Entrepreneurship and growth are relevant to all types of organisations and environment - public sector, not-for-profit and for-profit, small and large businesses, so the module is relevant to students from different backgrounds and motivations.
On successful completion of the module, students will be able to:
1) Recognise and appreciate the value of entrepreneurship for economic and social renewal and rejuvenation in a variety of local and international contexts,.
2) Recognise and articulate an entrepreneurial opportunity, from identified need to relevant response through the development of business model
3) Demonstrate critical thinking, analysis and understanding of the growth process of entrepreneurial businesses and role of founder in the process
4) Demonstrate critical thinking, analysis and understanding of the barriers to the growth of entrepreneurial businesses and role of founder in the process
5) Demonstrate an understanding of a variety of internal and external growth strategies that can be used for the growth of entrepreneurial businesses.
6) Demonstrate knowledge of business ethics and sustainable development related to social or for profit entrepreneurship.
The programme of study will be grouped under the following broad headings:
Entrepreneurship and innovation
Growth of innovative businesses
Thus, the teaching is based on lectures, case studies, videos and online course materials, which focus on particular aspects of entrepreneurship and the growth of innovative businesses. Case studies and role-plays will be used to stimulate debate, to gain understanding of key issues, and to encourage an in-depth understanding of entrepreneurship and the growth of innovative businesses.
| Definitive UNISTATS Category | Indicative Description | Hours |
|---|---|---|
| Scheduled learning and teaching | 66 | |
| Guided independent study | 234 | |
| Total (number of credits x 10) | 300 | |
Formative
Formative assessments will be achieved through in-class critical analysis of various case studies on entrepreneurship, innovation, business growth, strategies and barriers related to business growth, with feedback given by the tutor.
Summative
The summative assessment consists of two parts
Coursework 1: Students are required to create a new venture strategy, based on an innovative opportunity presented as a written individual business model. Students are expected to demonstrate their understanding, knowledge and ability to integrate and adapt previous entrepreneurial learning into a coherent overall business model in an entrepreneurial context. More specifically students are required to:
The new venture strategy report has a word limit of 2,500, and a weighting of 50%
Coursework 2: Students are expected to write an individual report that critically evaluates an existing organization's growth and development in terms of the types of internal and external growth strategies and growth barriers faced by the firm. Students are expected to also reflect on the growth barriers (both internal and external) faced by the organization. Students should be able to critically reflect on the organisation's context and recommend possible strategies that the organization can adopt to overcome its growth challenges.
The individual report has a word limit of 2,500, and a weighting of 50%
| Learning Outcome | Assessment Strategy |
|---|---|
| 1) Recognise and appreciate the value of entrepreneurship for economic and social renewal and rejuvenation in a variety of local and international contexts. | Formative Summative: coursework 1 |
| 2) Recognise and articulate an entrepreneurial opportunity, from identified need to relevant response through the development of business model. | Formative Summative: coursework 1 |
| 3) Demonstrate critical thinking, analysis and understanding of the growth process of entrepreneurial businesses and role of founder in the process. | Formative Summative: coursework 2 |
| 4) Demonstrate critical thinking, analysis and understanding of the barriers to the growth of entrepreneurial businesses and role of founder in the process. | Formative Summative: coursework 2 |
| 5) Demonstrate an understanding of a variety of internal and external growth strategies that can be used for the growth of entrepreneurial businesses. | Formative Summative: coursework 1 |
| Description of Assessment | Definitive UNISTATS Categories | Percentage |
|---|---|---|
| Business model | Coursework 1 | 50% |
| Report | Coursework 2 | 50% |
| Total (to equal 100%) | 100% | |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Burns, P. (2016) Entrepreneurship and Small Business, 4th Edition, Basingstoke: Palgrave Macmillan
Dorf, R. C., & Byers, T. H. (2011). MP: Technology Ventures: From Idea to Enterprise. McGraw-Hill.
Morris, M. Kuratko, D., Covin, G. (2011) Corporate Entrepreneurship and Innovation 3rd Edition. Cengage, USA
Goffin, K. and Michell., R. (2017) Innovation Management. Effective Strategy and Implementation 3rd Edition, Palgrave.
Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons.
Kuratko, D.F. and Welsch, H.P. (2011), Strategic Entrepreneurial Growth, 10th edition, South-Western
Zimmerer, T.W. and Scarborough, N.M. (2014), Essentials of Entrepreneurship and Small Business Management, 8th Edition, Upper Saddle River, NJ, Pearson/Prentice Hall.
Birley, S. and Muzyka, D.F. (eds.)(2000), Mastering Entrepreneurship, London, FT/Prentice Hall.
Baghai, M, Coley, S. and White, D. (latest edition), The Alchemy of Growth, London and New York, Texere.
Kuratko, D.F. (2014), Entrepreneurship: Theory, Process and Practice, 9th Edition, Cengage, Learning;
Journals
Entrepreneurship: Theory and Practice;
International Small Business Journal;
Journal of Business Venturing;
Strategic Management Journal;
Small Business Economics