Team Business Project

MATS42302 Team Business Project 15 Semester 2 Undergraduate Level 7 Paul Cowell Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 7.5 Students will carry out research in groups (of approximately 5) to develop a sound business plan that will exploit one or more aspects of materials science and/or engineering to create an innovation to improve the material sustainability of our world. This new disruptive technology could focus on renewable energy generation, sustainable construction, plastics recycling or any other aspect of sustainable materials. The business plan must be built from a strong foundation of social responsibility, circular economics and sound financial planning.  Students will carry out research in groups (of approximately 5) to develop a sound business plan that will exploit one or more aspects of materials science and/or engineering to create an innovation to improve the material sustainability of our world. This new disruptive technology could focus on renewable energy generation, sustainable construction, plastics recycling or any other aspect of sustainable materials. The business plan must be built from a strong foundation of social responsibility, circular economics and sound financial planning. Students will learn how to write a good business plan and pitch their ideas to a panel of “investors”. Students will work in groups to research and develop their ideas, taking individual responsibility for writing one aspect of the plan, and sharing a collective responsibility for presenting a cohesive document and pitching the innovation.<ul> <li> Students meet to discuss initial ideas, building a team of complementary skill sets to produce a business idea/proposition or ‘pitch’. Students will work in their groups collectively and at other self-organised times to discuss their work.</li> <li> Once the title of the business venture has been selected they work together to gather research material for their selected venture, using a business plan template. </li> <li> Students will select one of each of the following roles: Chief Scientific Officer; Head of Human Resources and Social Responsibility; Head of Marketing; Finance Director; and Director of Operations. All students in the group will share responsibility for the CEO role.</li> <li> To support students in the completion of this unit, lectures are given that cover management theory, strategic planning, company structures, social responsibility, sustainability, finance, marketing, finance and target setting in addition to mentor meetings to help students be guided through the early stages of a business start-up.</li></ul> The students will present a formative “pitch” to provide feedback on the project and presentation, leading to an end-of-semester pitch to industry experts (30%), degree show performance showcasing the innovation (10%) and the final business plan (60%) with marks distributed to both the group for the executive summary and overarching cohesiveness and individual marks for sections written by the company directors.  <ol> <li> The unit aims to: <ol> <li> Develop the student’s ability and awareness for the most important elements of business plan development and the essential elements of business plan presentation.</li> <li> Encourage an awareness of social responsibility in materials and business research</li> <li> Make students aware of the legal and IPR framework for business innovation and finance.</li> <li> Encourage the students to engage in group research, delegating tasks, self-organisation and group evaluation.</li> <li> Develop the students writing and presentation skills and prepare them for polemic discussions and encourage them to learn to defend their conclusions.</li> <li> Encourage the development of advanced analytical and reflective skills.</li> <li> Give confidence in the use of skills, team working and communication of ideas.</li> </ol> </li></ol> A greater depth of the learning outcomes will be covered in the following sections: <ul> <li> Knowledge and understanding</li> <li> Intellectual skills</li> <li> Practical skills</li> <li> Transferable skills and personal qualities</li> </ul> <ul> <li> Understand the thought processes and complexities involved in formulating a business plan. The money, people, risks, market, sustainability and social responsibility combined with a relevant executive summary.</li> <li> Understand the legal and IPR framework for financing innovation and sources of research funding for projects.</li> <li> Appreciate the dynamics and correlation between external political and economic factors as well as the material technicalities of product development.</li> <li> Formulate and understand financial statements and present them in a convincing way.</li></ul><div>  </div> <ul> <li> Demonstrate an understanding of the effect of changing variables on other elements of the business plan. Appreciate the interconnectivity of the business plan elements and interconnected directors’ roles. </li> <li> Be able to argue and defend the group research in a virtual or offline polemic environment.</li></ul><div>  </div> <ul> <li> Presentation and discussion skills in a virtual and/or in-person.</li></ul> <ul> <li> Communication and defence of ideas through oral discussion.</li></ul> <div> Lectures and seminar/workshops and interactive feedback session to be delivered. Minor changes to the delivery pattern may arise and students will be advised of such changes at the earliest opportunity. Locations of the sessions will be communicated at the start of term.A large portion of this unit relies on coaching and mentoring provided by the academic staff. From time-to-time the indicative content that follows may need to be amended slightly given the flexible nature of this unit to meet students needs.  As a result, any changes will be communicated to students in advance . </div>  3 Report 70% 7 Oral assessment/presentation 30% Feedback given (Written and verbal) N Students are not required to purchase any textbooks for this module. The following are recommended:Essential: Beaver, G. (2002) Small Business, Entrepreneurship & Enterprise Development, FT Prentice HallRobbins, S. & Hunsaker, P.L. (2003) Training in Interpersonal Skills International Edition, 3rd edition, Pearson Education, New JerseyRecommended:Adair, J. (1986) Effective Team Building: How to Make a Winning Team GowerCaproni, P. (2000) The Practical Coach Pearson Education, New JerseyCarter, S. & Jones-Evans, D. (2000) Enterprise & Small Business: Principles & Practice FT Prentice HallFry, R. (1997) Manage Your Time Kogan Page (out of print although Hollings Library has a copy)Gill, R. (2006) Theory & Practice of Leadership Sage, LondonJohnson, D.W. & Johnson, F.P. (2006) Joining Together: group theory and group skills 9th edition, Pearson Education Inc, Boston, USALambing, P. & Kuehl, C.R. (2000) Entrepreneurship FT Prentice HallPatten, D. (2001) Successful Marketing for the Small Business Kogan PageSolomon, P. (2004) Financial Accounting: A New Perspective McGraw-Hill/Irwin, New YorkManagement TodayMarketing BusinessSmall Business EconomicsManagement DecisionManagement Case QuarterlyThe GuardianThe IndependentThe Telegraph<a href="http://www.bized.co.uk/">www.bized.co.uk</a><a href="http://www.businesslink.org/">www.businesslink.org</a><a href="http://www.fsb.co.uk/">www.fsb.co.uk</a><a href="http://www.bvca.co.uk/">www.bvca.co.uk</a><a href="http://www.dti.gov.uk/for_business.html">www.dti.gov.uk/for_business.html</a><a href="http://www.sbs.gov.uk/">www.sbs.gov.uk</a><a href="http://www.smallbusiness.co.uk/">www.smallbusiness.co.uk</a><a href="http://www.youngenterprise.co.uk/">www.youngenterprise.co.uk</a>  Lectures 30 0 120