| CODE | MGT3219 | ||||||||
| TITLE | Entrepreneurship and New Venture Creation | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Business and Enterprise Management | ||||||||
| DESCRIPTION | The study-unit provides a comprehensive overview of the entrepreneurship process by discussing key elements of new business venturing creation whilst stimulating students’ thoughts and reflection on the latest trends in the field of business innovation. The study-unit focuses on the entrepreneurship fundamentals, highlighting the frameworks, the dynamics as well as the practices involved to generate new ventures. Additionally, students are provided with a blueprint of ideas and strategies that are essential to build a successful and competitive business model. The unit covers the following topics: entrepreneurship foundations; the recognition of entrepreneurial opportunities for new ventures; business model generation; the design of an innovative value proposition; customer development; lean strategy and its interconnection with planning for competitive advantage creation; prototyping and MVP; continuous innovation in product design; pitching to investors; marketing and branding in a new venture. Study-Unit Aims: The study-unit offers a holistic framework to help students to understand the entrepreneurship fundamentals in relation to the dynamic creation of a new venture. It also aims to increase course participants’ recognition and responsiveness to entrepreneurial opportunities, enabling students to appreciate the importance of implementing an experimental approach to validate ideas and refine a business strategy. Through a hands-on approach, this study unit additionally enhances students’ ability in appreciating how entrepreneurial principles are based on customer-focused offerings that ultimately drive continuous research and innovation as well as lead new ventures to sustainable growth and long-term impact. Learning Outcomes: 1. Knowledge and Understanding By the end of the study-unit the student will be able to: - Define the links between an entrepreneurial approach and new venture creation; - Recognize the core value of opportunity recognition that favours the set-up of new firms; - Establish a set of characteristics pertaining to successful business models; - Identify practical success stories and apply them to new entrepreneurial opportunities; - Comprehend the practices of continuous innovation adopted by successful start-ups; - Recognise that entrepreneurial principles can be effectively used by all types of businesses, ranging from established companies to early-stage startups. 2. Skills By the end of the study-unit the student will be able to: - Demonstrate critical assessment skills associated with the entrepreneurial process; - Explain the general approaches for exploiting available entrepreneurial opportunities; - Evaluate the mechanisms for starting up and growing a new venture; - Analyse as well as generate competitive business models; - Design and critically assess the character of a customer-focused value of a proposition; - Comprehend the practice of customer development and continuous innovation; - Plan the marketing and branding approach of a new venture; - Deliver an effective pitch to investors. Main Texts: - Scarborough, N. M., & Cornwall, J. R. (2016). Essentials of entrepreneurship and small business management. London: Pearson. - Baron, R. A., & Shane, S. A. (2008). Entrepreneurship: A process perspective. Thomson. South Western. Supplementary Readings: - Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design: How to create products and services customers want. John Wiley & Sons. - Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons. - Blank, S., & Dorf, B. (2020). The startup owner's manual: The step-by-step guide for building a great company. John Wiley & Sons. - Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to create radically successful businesses. Currency. |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Antonietta Rosiello |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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