Due to Covid-19 students should refer to the module Blackboard pages for assessment details
|Assessment Type||Assessment length / details||Proportion|
|Semester Exam||2 Hours Unseen written examination||60%|
|Semester Assessment||Group assignment - business plan||40%|
|Supplementary Exam||2 Hours Unseen written examination Repeat failed element||60%|
|Supplementary Assessment||Repeat failed element or equivalent Repeat failed element||40%|
On successful completion of this module students should be able to:
* Assess the importance of small businesses in the wider enconomy, especially their role in creating employment and innovation,
* Discuss the main problems associated with running a small business in terms of employee relations, marketing and financial control,
* Identify the causes and extent of small business failure,
* Plan for a new business start-up and be aware of government and other incentives to assist such ventures,
* Develop personal skills including team building and presentation skills.
The aim of this module is to provide the theoretical and practical knowledge to understand the establishment, growth and other issues in small and medium sized businesses.
Week 2: Theories of entrepreneurship, motivations towards the formation of a small business, research on entrepreneurship and their practical implications, female and minority entrepreneurship.
Week 3: The economic context of the small business, the small firm in the economy, economic importance, government policy towards small businesses, creating an enterprise culture, current policy.
Week 4: Different forms of businesses, franchising, the franchisor-franchisee relationship, service delivery system, evaluating a franchise opportunity, expanding through franchising.
Week 5: Financing the business. Sources of finance for small firms, bootstrapping, bank loans and overdrafts, leasing and hire purchase, venture capital and business angels.
Week 6: Growing a small firm. Stages of growth, management of growth, managing people, the entrepreneur at different stages, management training, building a management team.
Week 7: Marketing in a small firm, entrepreneurial approach to marketing, problems of marketing in a small firms, e-business, selling products and services online.
Week 8: Challenges and issues facing small firms. The reasons why small firms fail including insufficient sales and poor financial management, lack of planning, recovery strategies, financial management.
Week 9: Family firms. The importance of family firms, management issues, ownership and legal issues, succession, selling the family business, social enterprise.
Week 10: Planning for the future, harvesting strategies, public floatation, sale, management succession, portfolio and habitual entrepreneurs, leadership and ethics, review of the module.
This module is at CQFW Level 6