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Week No
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Lecture topic
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Seminar activities
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Recommended reading
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Directed study
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1
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Introduction to the module;
How this module fits within your programme framework
Assessment details;
The benefits for learning of the module structure
Understanding the purpose of a business plan;
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Idea generation and screening for new venture opportunities– creative exercises, online research, group brainstorming of ideas (if you already have an idea, we will work straight from that);
Decide what business idea you will base your plan on
Individual completion of a ‘problem to be solved’ business concept template, which must be typed up and emailed to the tutor before the next class. This will be the business proposal on which you model your plan
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Core Text:
The FT Essential Guide to Writing a Business Plan, How to win backing to start up or grow your business, Evans, V., Pearson, 2015
Core text: Chapter One – Essential Preparation
Further Reading:
Michalko, M. Thinkertoys, A Handbook of Creative Thinking Techniques, 2nd edition, Ten Speed Press, Berkley, 2006
Business Planning Essentials for Dummies, Curtis, V
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Following the seminar: Complete the business proposition statement and email to the seminar tutor before the next class.
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2
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The key elements of a business plan – introduction of the template for your assignment
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Each seminar will begin with a review of the previous week’s independent work.
Compare and contrast business plan variations from different sources.
Using your proposed business idea – start populating the business plan template – focus on “What is your business proposition and why do you think it’s a good idea” and “How did you come up with the idea” and “Why are you the best person to be doing this”
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Core Text: Chapter Two – The business background (Start-up = Pg. 39+)
Also follow the link below to access the Virgin Start-Up information:
The assessment template is adapted from the Virgin Start-Up plan – this will form the structure of the module; see the website for useful guidance on completing it
https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
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Following the seminar: Continue with business plan as begun in class. Access recommended websites for business plan guides, especially Virgin Start Up; also: Barclays, Lloyds, and Prince’s Trust. See Moodle Week 2 for PDFs and website links.
Find one other example and be prepared to share a brief critique of it for next week
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3
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Feasibility - “How have you confirmed there is a need for your business?” – what research should you do – general industry overview and trends; specific customer research
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Review of previous week’s independent work
Internet-based research in class on general industry overview and trends - planning for other specific research which will be relevant to your business idea – possibly field research
Feedback and guidance from your tutor
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Core Text: Chapter 3 – Market Demand (Start-up = Pg. 57+)
See Directed Study
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Following the seminar:Do some industry (and ideally field) research on the business context your business will be operating in – use the questions on the assessment template as a starting point
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4
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Marketing - “Who are your customers and how will you reach them?” – target customer profile, why them, how get their attention, how convince them to buy from you, what will you need to do, what costs will there be? Who are you competing with and how will you beat them?
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Review of previous week’s independent work
Class-based completion of relevant sections of your business plan with help from tutor and class mates;
Small group work comparing and contrasting your ideas and business pitches – classmates and tutor critically review your plans to date
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Core Text: Chapter 4 – Competition (Start-up = Pg. 74+)
Additional reading to be advised
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Following the seminar: continue with marketing sections of your business plan; conduct more customer and competitor research
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5
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Identifying and calculating financial aspects of your business plan –
how much will your product service cost to produce or deliver (how will you produce/deliver it?); How much will you charge? How have you identified this figure? What are all the costs associated with your business? What are your sales projections – what are you basing this on etc
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Review of previous week’s independent work
The lecture and your reading will have givenyouan overview of all the financial aspects you should take into account, including insurances, premises, raw goods etc.
The seminar will then give you time to apply these broad figures to your own plans, based on your work completed during reading week and receive feedback and critical review from your peers and the tutor
Marking at the final stage of your assessment will take into account whether you have considered costs, pricing and sales expectations thoroughly, so this week is particularly important
We will review a range of businesses and consider for each what costs might be associated with start-up operations
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Core Text: Chapter 6 and 7 – Resources and Financials
Additional reading to be advised
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Following the seminar: continue reviewing and completing the financial section of your business plan
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6
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Legal and regulatory -consider what legislation you may need to comply with; insurance; health and safety; intellectual property; associates contracts; customer contracts; investor contracts; food hygiene and safety; data protection; online and mail-order selling; sale of goods etc
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Review of previous week’s independent work
Discuss case studies where the lack of legal and regulatory procedures have caused problems
Consider the business implications of not applying relevant regulatory frameworks
Consider personal implications and human risks of not applying relevant regulatory frameworks or having adequate insurance (e.g. health & safety, personal incapacity etc)
Time to research and discuss some of the specifics to their project with feedback etc
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Core Text: Chapter 8 – Risk, Opportunity and Sensitivity
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Following the seminar: continue researching legal and regulatory considerations, along with expected costs, adding them to the business plan; complete your business plan as much as possible, ready for formative review in Week 8
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7.
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Reading Week
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Prepare a draft financial estimate of your business based on the provided template
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Core Text: Chapter 6 (Start-up = pg. 109+) and 7 (Start-up = pg. 146+) – Resources and Financials
See also, excellent website for estimating costs needed to set up your business: http://www.santanderbusinessguides.co.uk/bizguides/full/costcalc/index.asp
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Take all your work to date and start working out some financials
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8
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Stakeholder management – who will have a stake in your business and how does this need to be included in your plan? Staff, suppliers, contractors or associates, investors
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Review of previous week’s independent work
You will produce stakeholder maps with associated costs, activities and action plans to minimise issues relating to yourparticular product or service;
Relevant staff management considerations will also be covered in overview
Submission of draft business plan (must be brought to class)
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Formative assessment: This week you will be expected to submit your draft business plan for review and comment
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Following the seminar: complete the stakeholder section of the business plan and start preparing content and slides for the summative presentation
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9
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Business pitching skills 1 –
Effective visual aid principlesand introduction to under-pinning verbal communication skills
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Review of previous week’s independent work
In-class time to further develop draft material for your upcoming summative assessment;
Pair work to compare and contrast the quality and impact of your slides
Coaching and feedback from your tutor on your materials and plans for the presentation
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Core Text: Chapter 10 – Pitching
Additional reading to be advised
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Following the seminar: prepare a 2 minute introduction pitch ready for presentation practice in class in Week 10; consider likely questions from a panel and prepare answers; Finalise business plan and slides ready for upload to Turnitin
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10
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Business pitching skills 2 –
Presentation skills, question-handling and objection-handling skills
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Review of previous week’s independent work
Presentation practice – you will practise a 2 minute introduction pitch to your core business idea; you will also practise responding to challenging Q&A in preparation for final assignment
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Reminder: Your slides and business plan must be ready for submission this week.
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Following the seminar: prepare for summative presentation and upload slides and business plan to Turnitin to deadline
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11
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Assessments to be timetabled during lecture and seminar times with additional timetabling where necessary
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Assessments to be timetabled during lecture and seminar times with additional timetabling where necessary
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