Business Creation and Development

MCEL60032 Business Creation and Development 15 Semester 2 Postgraduate Taught Level 7 Adam Frost Unit coordinator Alliance Manchester Business School 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 7.5 This unit provides students with the opportunity to apply critical thinking to a real-life business case study through application of analytical tools and techniques.Students will engage with a live business case study, evaluate the current performance and situation of a new venture and then develop a strategy and plan for its survival and growth.    This unit provides students with the opportunity to apply critical thinking to a real-life business case study through application of analytical tools and techniques.Students will engage with a live business case study, evaluate the current performance and situation of a new venture and then develop a strategy and plan for its survival and growth.    Provide the student with real experience of the processes and activities involved in setting up and developing a new venture. Knowledge and understanding KU1 Recognise the principal activities that need to be considered and addressed when developing an effective strategy and  plan  to enable your client to survive and/or grow      KU2 Evaluate strategic analysis tools in terms of their validity for understanding new venture performanceIntellectual skills IS1 Collate and utilise relevant contextulaised information so as to improve decision making, critically evaluate business opportunities, formulate objectives, determine strategies and plan actions          IS2 Evaluate the role of founders, other stakeholders and considerations in the success of a new venture.Practical skills PS1 Undertake an in-depth strategic analysis of an organisation in order to gain a sufficiently comprehensive, critical and holistic appreciation of the context prior to developing an optimised business plan for a client businessPS2 Develop an actionable business plan which covers deliverables, resource needs, and risks for use by a client to develop their businessPS3 Develop team-working and collaborative working skills through the group projectPS4 Develop consultancy skills through working with a client organisationTransferable skills and personal qualities TS1 Develop, evaluate and propose creative solutions to challenging and complex problems that take account of stakeholder requirements and values, resource constraints and availability, and external barriers, risks and threatsTS2 Make strategic decisions in situations of ambiguity, uncertainty and risk based on internatives with a client organisation, reflection and sense-makingTS3 Develop critical evaluation skills in identifying, selecting, utilising and evaluating various critical evaluation skills.   Phase 1: Business Development Process and Problem Identification Business plans and planning Challenges facing early-stage ventures  Business Development Process  Diagnosing business problemsPhase 2: Strategic Analysis and Creating a Vision for the Future  Refresher on Overview of strategic analysis Data collection methods Analysing the founder(s) of a new venture Analysing the external environment of a new venture Analysing the internal operations of a new venture Evaluating the overall performance of a new venture Mapping the business eco-system and identifying business contexts  Business roadmaps Scenario creation and visioning methods  Assumptions and hypothesis testingPhase 3: Developing a Strategy for Business Development  Strategic Development Framework Setting objectives and developing a strategy  Creating action plans Lean approach to business development  Risk identification and management Financing and resourcing a plan for development 10 x 1 hour asynchronous lectures 10 x 2 hour in-person workshopsIn workshops students will use case studies, journal articles, in-class discussions and participate in a group project working with a live business case study (i.e a real early stage new venture).   0 Other 100% Individual Critical Reflection (50%)  Group Summative Assessment (50%) N Mazzarol, T & Rebound, S. (2020) Small Business Management: theory and pactice. Springer: SingaporeSorensen, H.E. & Hoboken, N.J. (2012) Business Development: a market-orientated approach. Pearson: HarlowStokes, D. & Wilson, N (2021) Small Business Management and Entrepreneurship. Cengage: AndoverOsterwalder, A., Pigneur, Y., Gregory, B., Smith. A. & Papadakos, T. (2015) Value Proposition Design: how to create products and services customers want. Wiley: New YorkOsterwalder, A. & Pigneur, Y. (2013) Business Model Generation: A handbook for visionaries, game changers and challengers. Wiley: SomersetMain Texts• "The Definitive Business Plan: The Fast Track to Intelligent Planning for Executives and Entrepreneurs", Stutely, R (2012), Financial Times/ Prentice Hall, ISBN-13: 978- 0273761143 • "Business Development: A Market-oriented Perspective", Sørensen, H. E. (2012), John Wiley & Sons, ISBN-13: 978-0470683668 Supplementary Texts: • "The Seven C's of Consulting: the definitive guide to the consulting process", Cope, M. (2003), Financial Times/Prentice Hall, ISBN-13 978-0-273-66333-1 • "The Lean Startup", Ries, E (2011) Portfolio Penguin, ISBN-13: 978-0670921607 • "The complete guide to Business and Strategic Planning for Voluntary Organisations", Lawrie, A (2007), Directory for Social Change, ISBN-13: 978-1903991701 • "Developing New Business Ideas", Bragg, A. & Bragg, M (2005), Prentice Hall, ISBN-13: 978- 0273663256 • "The Strategic Planning Workbook", Lake, N (2006), Kogan Page, ISBN-13: 978- 0749445096 • "Small Business Management and Entrepreneurship", Stokes, D & Wilson, N (2010), Cengage Learning Business Press, ISBN-13: 978-1408017999 • The Guide to Business Finance - what smart managers do with the numbers", Stutely, R. (2007) Prentice Hall, ISBN-13: 978-0273-71095-0 Lectures 10 Practical classes & workshops 20 0 120 Informal Contact Methods Availability will be communicated via Blackboard and in the first lecture, or book an appointment via e-mail