Business Ignition - Idea to Implementation
| Module title | Business Ignition - Idea to Implementation |
|---|---|
| Module code | BEM3061 |
| Academic year | 2024/5 |
| Credits | 15 |
| Module staff | Dr Andreas Georgiou (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 120 |
|---|
Module description
This module is a capstone module included in the With Proficiency In (WPI) Entrepreneurship programme.
This is a project-based course where students learn by working in a team to launch a real social enterprise that sells a real-life product or service. It provides an opportunity for students to revisit and gain practical experience with the tools and concepts they have learnt in previous entrepreneurship courses (as well as in other business and non-business courses). In addition, this course focuses on helping student practice navigating ambiguity and developing the “soft” business that must be learnt through structured practice. There are no required lectures or formal essays – student time for this class is dedicated to learning through acting in the real world. Online materials (including optional lectures and resources) will be provided to help students as they encounter common issues involved in launching a business. In-person instruction time will focus on creating a classroom “business accelerator” space where students can work through challenges with the instructor, other teams, and additional mentors.
Grading is based on 1) The social enterprise’s performance identifying and launching a successful social enterprise 2) formalised peer-based review/assessment of individual performance within the team, and 3) a formal individual reflection document/activity. At the end of the module there will be a presentation to demonstrate the revenue stream they created to their charity (A lot of the learning here is actually about how to work in teams in addition to the entrepreneurial lessons).
Pre-requisite: Managing Entrepreneurially OR Developing Your Entrepreneurial Mindset (previously “Could you be an entrepreneur?) (Both are WPI Entrepreneurship modules).
No co-requisite modules are required to take this module. This module is suitable (and encouraged) for non-specialist students and intended for interdisciplinary pathways.
Module aims - intentions of the module
The aim of the module is to develop and extend entrepreneurship skills and mindsets through real-world action. This will be achieved through a ‘real-world’ assignment.
A project-based learning approach will be used, with learning reinforcement coming through in-person “business accelerator” workshops and (optional) online materials. The series of workshops will cover the assignment project formatively and give the participant the chance to explore the assessed medium.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. ability to create, develop, and execute an entrepreneurial business;
- 2. ability to use entrepreneurial tools including the business model canvas, customer needs assessment, and the value proposition canvas;
- 3. ability to apply entrepreneurial mindsets including design thinking, effectuation, lean design, and empathy for customers.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. ability to evaluate and articulate a startups opportunities and risks.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. practice networking and engaging with internal and external stakeholders;
- 6. develop advanced skills for working closely in teams.
Syllabus plan
The module will cover the following topics:
Entrepreneurial tools including the business model canvas, customer needs assessment, developing value propositions, and engaging with partners and customers. Entrepreneurial mindsets including design thinking, effectuation, lean design, and developing empathy for customers. Skills for working closely on teams. Networking and engaging internal and external stakeholders.
Online content will run simultaneously but asynchronously with project-based learning and workshops.
Additional Information:
Internationalisation:
Students build intercultural skills as they intimately engage internal and external stakeholders from many different cultures.
External Engagement:
Groups will work with an external charity organisation to develop a new social enterprise to add value to that charity’s mission. They will also engage with the external/community stakeholders that the charity serves.
Employability:
By honing real life skills that transcend specific organisational contexts, participants develop their ability to create value within any organisation or through self-efficacy to create their own venture.
Sustainability:
Students will gain intimate understanding of both the local challenges their social enterprise is attempting to contribute value to, as well as the global context those challenges are situated within. They will better understand the organisational and technological responses at their disposal to create positive impact.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 28 | 122 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activity | 12 | Online Lectures (online delivery) |
| Scheduled learning and teaching | 10 | Workshops |
| Guided independent study | 20 | Preparing for workshops |
| Guided independent study | 108 | Out-of-class entrepreneurship practice exercises derived from lectures and workshops |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Workshop discussions and exercises 30 6 individual survey-based assessments 1-3, 5-6 Written feedback, Quantitative rankings | In class | 1-6 | Verbal, participative peer/mentor discussions |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Peer assessment | 35 | Short surveys awarding points to peers based on value created for team and giving qualitative feedback on how to improve. (see: https://as.exeter.ac.uk/academic-policy-standards/tqa-manual/lts/peerselfassessment/) | 1-3, 5-6 | Written feedback, Quantitative rankings |
| Group presentations of project and outcomes to stakeholders | 30 | Multi-modal presentations | 1-6 | Oral feedback |
| Individual Learning Reflections | 35 | 5 x 250-400 word reflections | 1-6 | Oral feedback |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Peer assessment (35%) | Self and stakeholder assessment (35%) | 1-3, 5-6 | August/September Reassessment Period |
| Group presentation of project and outcomes to stakeholders (30%) | Individual presentation of project and outcomes to stakeholders (30%) | 1-6 | August/September Reassessment Period |
| Individual Learning Reflections (35%) | Individual weekly progress reports (35%) | 1+6 | Throughout re-assessment period |
Re-assessment notes
Due to the nature of the in-course work being 100% group-based and peer-assessed, an individual presentation of a project and outcomes to stakeholders(10 minutes) and a 2500 word reflection/journey document on the student’s individual project will be completed as a reassessment outside of term time.
Indicative learning resources - Basic reading
Dew, N., Read, S., Sarasvathy, S. D., & Wiltbank, R. (2009). Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices. Journal of Business Venturing, 24(4), 287-309.
Read, S., Sarasvathy, S., Dew, N., Wiltbank, R. and Ohlsson, A-V. (2011). Effectual entrepreneurship (2nd ed.). London: Routledge.
Osterwalder, Alexander, and Yves Pigneur. Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons, 2010.
Lewrick, Michael, Patrick Link, and Larry Leifer. The Design Thinking Playbook: Mindful Digital Transformation of Teams, Products, Services, Businesses and Ecosystems. John Wiley & Sons, 2018.
Indicative learning resources - Other resources
Real-world feedback.
Students “Birds-in-hand” (innate resources based on who they are, what they know, & whom they know).
Students’ personal network of resources.
Support from mentors, peers, and external stakeholders/partners.
Lessons from other courses.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | Managing Entrepreneurially OR Thinking Entrepreneurially (previously “Could you be an entrepreneur?) OR Startup Entrepreneurship OR Entrepreneurial Value Creation (These are WPI Entrepreneurship modules) |
| Module co-requisites | None |
| NQF level (module) | 6 |
| Available as distance learning? | Yes |
| Origin date | 18/02/2019 |
| Last revision date | 15/03/2021 |
