Module ASB-4010:
New Venture Creation

Module Facts

Run by Bangor Business School

15 Credits or 7.5 ECTS Credits

Semester 2

Organiser: Dr Siwan Mitchelmore

Overall aims and purpose

To evaluate the role of entrepreneurs and small firms as the lifeblood of an economy; to examine their contribution to innovation, wealth creation and employment; and to gain insights into the concepts of entrepreneurship and routes to new venture creation.

Course content

Entrepreneurship theory and evolution of the concept; Starting your own business; Creativity and Innovation; Franchising; Buying a business; Succeeding in family business.

Assessment Criteria

threshold

No major omissions or inaccuracies in the deployment of information/skills; Some grasp of theoretical/conceptual/practical elements; Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

good

Much of the relevant information and skills mostly accurately deployed; Adequate grasp of theoretical/conceptual/practical elements; Fair integration of theory/practice/information in the pursuit of the assessed work's objectives; Some evidence of the use of creative and reflective skills.

High Standard: Very good performance; Most of the relevant information accurately deployed; Good grasp of theoretical/conceptual/practical elements; Good integration of theory/practice/information in pursuit of the assessed work's objectives.; Evidence of the use of creative and reflective skills.

excellent

An outstanding performance, exceptionally able; The relevant information accurately deployed; Excellent grasp of theoretical/conceptual/practice elements; Good integration of theory/practice/information in pursuit of the assessed work's objectives; Strong evidence of the use of creative and reflective skills.

Learning outcomes

  1. Understand the role of small firm in the economy.

  2. Identify the characteristics of entrepreneurs and appreciate the different types of entrepreneur that can exist and their role in society.

  3. Understand the role of entrepreneurship in new venture development.

  4. Demonstrate familiarity with the routes available to new venture creation.

  5. Evaluate and screen new venture opportunities.

  6. Recognise and understand the role of innovation and creativity in a fast paced global competitive environment, where businesses need to innovate to survive.

  7. Recognising the need for entrepreneurship in large organisations, and the complexities associated with the implementation of this culture.

Assessment Methods

Type Name Description Weight
Assignment 50
Final Examination 50

Teaching and Learning Strategy

Hours
 

One 3-hour lecture per week.

  
Lecture 150

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Information retrieval - Able to access different and multiple sources of information
  • Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.

Subject specific skills

  • Commercial acumen: based on an awareness of the key drivers for business success, causes of failure and the importance of providing customer satisfaction and building customer loyalty.
  • Innovation, creativity and enterprise: the ability to act entrepreneurially to generate, develop and communicate ideas, manage and exploit intellectual property, gain support, and deliver successful outcomes.
  • Ability to work with people from a range of cultures.
  • Articulating and effectively explaining information.
  • Conceptual and critical thinking, analysis, synthesis and evaluation.
  • Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
  • Self reflection: self-analysis and an awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.

Courses including this module