description of a cmopany

1 page 1 company based on crunchbase.com

Identify:
1. Provide an description of the business and the funding secured by the venture.
2. What is the market opportunity?
3. What is the target market?
4. Why are customers going to buy or use the product or service?
5. How is the company going to make money?

The assignment is on the attached study guide page 13. It’s assignment 1.

Please follow the guidelines.

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UNIVERSITY COLLEGE DUBLIN
Bachelor of Business Studies (BBS) Singapore
Entrepreneurship & Innovation (BMGT3005S)
STUDY GUIDE
BBS22 FT / Singapore
© Rory O’Shea February 2016
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This manual was prepared for University College Dublin as a comprehensive support for students completing the above mentioned Degree programme.
Module Co-ordinator: Dr Rory O’Shea / Dr Thum Weng-Ho Contact details Email: rory.oshea@ucd.ie
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TABLE OF CONTENTS
PAGE
Profile and Welcome message 4
1. INTRODUCTION 6
a. Background details
b. Module aims
c. Programme Goals
2. MODULE OUTLINE 10
a. Module learning outcome
b. Learning supports
3. MODULE DELIVERY SCHEDULE 11
a. Session arrangements
b. Student engagement
c. Office hours arrangements
4. ASSESSMENT DETAILS 13
a. Assignments
b. Module assessment components
i. Assignment 1
ii. Assignment 2: Group project
iii. Examination
5. GRADING 17
a. University grading policy
b. Grade descriptors for assessment components
6. TOPICS 22
7. CONCLUDING COMMENTS 25
APPENDICES 26
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UCD Module Coordinator’s Profile
Dr Rory O’Shea is a lecturer in Innovation and Entrepreneurship at UCD School of Business. His research is primarily concerned with the commercialisation of academic research, with a particular focus on the optimal organisational and financial mechanisms for transferring university technologies successfully into the marketplace. He has published in leading journals such as Organizational Studies, Journal of Product Innovation Management, Research Policy, R&D Management and the Journal of Technology Transfer. He has recently co-edited a book volume for Cambridge University Press entitled, Building Technology Transfer within Research Universities: An Entrepreneurial Approach. Before joining UCD as a faculty member, Rory completed a post-doctoral research fellowship at the Sloan School of Management, Massachusetts Institute of Technology (MIT). Prior to entering academia, Rory worked as a Solutions Engineer in a global management consultancy firm, specialising in the communications and high-tech industry sector.
Dr Thum Weng-Ho
Dr Thum Weng-Ho has 15 years experience in the IT industry before spending the last 6 years in consultancy and lecturing. He has managed sales, marketing, engineering and operations teams in Asia. Dr Thum worked mainly for US multinational organizations such as Intel and Cisco Systems and has travelled widely within the Asian region.
Currently, Dr Thum runs Redshift Consultants, where he and his fellow doctoral colleagues operate a marketing consultancy business, which has a research emphasis. The marketing models used by Redshift focus on predicting customer behaviour, with intention to purchase, amongst others. In his training programs, Dr Thum has conducted career management courses for public scholarship holders from the National University of Singapore, as well as Nanyang Technological University.
Dr Thum has a first degree in Electrical Engineering and an MBA (with Distinction) in Strategy and Marketing. He has a PhD in Business and Management – his doctoral thesis was focused on the Service-Dominant Logic of marketing. Dr Thum also attended a director’s course at the Singapore Institute of Directors when he was Managing Director of a US based IT company, publicly listed on Nasdaq.
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Welcome message
In our capacity as module co-ordinators of the Entrepreneurship module, we would like to welcome you to this course. The aim of the module is to provide you with a practical guide to the process of successfully launching and growing a successful entrepreneurial venture. The course is designed to deepen your interest and expertise in the area of entrepreneurship, and the study guide is designed to support your learning. While much of the focus is on knowledge acquisition, attention is also given to enhancing and applying theory into practice competencies. We are looking forward to joining you for this course, which we hope will provide many learning opportunities for you; and we expect that you will contribute to the course through discussion and active participation.
Name: Dr Rory O’Shea / Dr Thum Weng-Ho
Module coordinators.
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PART 1: INTRODUCTION
This introduction provides a summary outline of the module, including details of the tutor, a brief description of the module, the learning outcomes from the module, the arrangements for the delivery of the module and the recommended textbook.
a. Background to the Topic
Entrepreneurship is becoming increasingly vital for the economic prosperity and social well-being of both mature market economies. This module focuses on theory building and empirical testing of the factors shaping the identification, evaluation, and exploitation of opportunities and the creation and development of new organizations. The aim of the course is to review an overarching conceptual framework that explains the different parts of the entrepreneurial process – the opportunities, the people who pursue them, the skills and strategies used to organize and exploit opportunities, and the environmental conditions favourable to them.
The module will provide a framework for understanding the entrepreneurial process and evaluating new venture opportunities, exploring the sources and processes of innovation, and developing an understanding of the various methods and techniques available for evaluating new business opportunities. Practice based illustrations will be used to explore the various steps involved in evaluating, creating and launching a new business venture, including assessing and acquiring the required resources, structuring the business, arranging financing and managing the growing enterprise.
b. Module Aims
On completion of this module students should be able to:
• Explain the process perspective of entrepreneurship, and list the major phases that entrepreneurs undertake to create and launch a successful new venture.
• Describe different forms that entrepreneurial opportunities can take, and explain why some forms are better for entrepreneurs to pursue than others.
Firms set up by entrepreneurs are typically more successful in some industries than in others, and identify the major types of industry differences that influence the relative success of new firms.
• Explain why cognitive processes provide an important foundation for understanding creativity and opportunity recognition for entrepreneurs.
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• Understand the central concepts of innovation, invention and research and development
• Develop and formulate managerial strategies to shape innovative performance
• Define a competitive advantage and explain why an entrepreneur needs to have one to be successful.
• Describe the requirements for setting effective goals and why it is so important for entrepreneurs to tie rewards to performance.
• Describe various strategies entrepreneurs can use to transfer ownership of their companies to generate wealth.
c. Relation Of Entrepreneurship To Programme Of Study
Entrepreneurship is an activity that involves finding, identifying and evaluating new commercial opportunities; and launching and developing new businesses or other means to exploit those opportunities. Therefore, entrepreneurship involves an understanding of Business, Technology and Marketing, Organisational and Human Resources Behaviour, Financing, and other business skills – many of which are covered in the BBS Programme.
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Programme Goals
Entrepreneurship, Programme Goals
Programme Goal
Learning Outcome
Module Title: Entrepreneurship (BMGT3005S)
Core Business knowledge
Explain theory, practice and operations
Major entrepreneurship theories (such as opportunity recognition and evaluation) are explained and in the course of the two assessments, put into practice. Operational issues are discussed in the context of business cases and also anticipated in the context of the business plan.
Learning Block 1-4
Yes (Assessments 2 & 3)
Apply business models in given situations
In the context of feasibility analyses, Porter’s Five Forces, SWOT, PESTEL, industry market attractiveness and other business evaluation tools, suitable business models and operational strategies are considered for the implementation in a business plan.
Learning Block 1-4
Yes (Assessments 1 & 2)
Critical skills
Discuss International Business developments, issues and drivers
Various industry contexts such as IT and tourism industry are used as examples, organisational developments such as flatter organisational hierarchies and more egalitarian organisational cultures are discussed. Other examples include social media marketing as well as neuro-marketing.
Learning Block 1-4
Yes (Assessments 2 & 3)
Identify & resolve business problems
Students identify business problems as opportunities to develop a feasible and valuable business idea in the context of Assessment 1 and as a Business Plan in the context of Assessment 2.
Learning Block 1-4
Yes (Assessments 1&2)
Critically evaluate arguments/evidence
In the context of the Business Plan, Critical Risks are identified, and students come up with
Learning Block 1-4
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realistic Contingency Plans. During the Business Plan Presentation, Q&A takes place and students address counter-arguments effectively.
Yes (Assessments 2 & 3)
Communication skills
Prepare & present short presentation – oral / written
Every student is involved in an oral presentation during the Business Plan presentation. They also contribute parts to the Business Plan, and write Individual Assignments.
Learning Block 1-4
Yes (Assessments 1 & 2)
Summarize succinctly
A Business Plan and a Business Plan Presentation is a concise, succinct document that is practised during tutorials and advised by the lecturer. The Executive Summary is a summary of the business plan and is often considered as the most crucial part of a business plan.
Learning Block 1-4
Yes (Assessment 2)
Information Technology
Examine recent developments in IT and impact on business operations
Recent IT companies, and the successes of Facebook, google and other tech companies evaluated in the context of the knowledge economy, where technological innovations are more important than traditionally-considered factors of production.
Learning Block 1-4
Partially / also depending on business plan topic (Assessment 2)
Global & ethical perspective
Explain management of social & ethical issues and behaviour
The role of the Team is key in a business plan; and Corporate Social Responsibility (CSR) is discussed as a hallmark of sustainable entrepreneurship.
Learning Block 1-4
Yes (Assessment 2)
Define business development issues and challenges
Business development is a critical part of a Business Plan, and depending on the nature of the proposed business, students discuss appropriate local and international sales and marketing strategies and approaches.
Learning Block 1-4
Yes (Assessment 2)
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PART 2: MODULE OUTLINE
Module Title: Entrepreneurship
Module Code: BMGT3005S
No. of ECTS: 10
Learning Outcomes
At the end of the course, the student will be able to:
 Understand and explain the mindset and characteristics of entrepreneurs and entrepreneurship.
 Describe the process and phases of typical entrepreneurial start-ups.
 Devise a plan to exploit a new entrepreneurial business opportunity.
 Prepare and present an opportunity analysis plan for a major new start-up.
 Outline the roles of Small Business Teams and Founder/Promoters.
 Evaluate the critical management issues typically encountered by new firms during the early stages in their development.
 Describe start-up finance options and potential Finance sources for start-ups.
 Outline how best to ‘harvest’ the start-up concept.
Module Text:
The recommended textbook for this module is: ‘Entrepreneurship: Successfully Launching New Ventures (5e). Bruce R. Barringer. Duane Ireland.
Learning Supports
For this module, please read the assigned chapters in the prescribed text.
Other Assigned Readings (essential):
Lecture notes will be as available on Blackboard for download, prior to the lectures, as .pdf files. These are related to, but not drawn directly from the recommended chapters.
Support material information on the subject of entrepreneurship are available on the internet sites listed in Appendix 4.
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PART 3: MODULE DELIVERY SCHEDULE
The module delivery relies on students’ ability to engage in prior preparation, to seek confirmation and clarification as appropriate and to be actively engaged during the sessions. Each student is expected to attend and be prepared for all sessions. Table 1 outlines the structure for the sessions.
Table 1: Module Delivery Schedule
Topic
Chapter
Learning Block 1
Opportunity Analysis and Entrepreneurial Mindset
Introduction to Entrepreneurship
Chapter 1
Recognising Opportunities and Generating Ideas
Sources of Opportunity Emergence
Chapter 2
Opportunity Evaluation Template
Industry and Competitor Analysis
Chapter
2, 3 5
Plus lecture
Notes
Zynga
Cognitive Foundations
Learning Block 2
Resource Assembly
Product Development
Notes
Developing an Effective Business Model
Chapter 6
Building a New Venture Team
Chapter 9
Financial Resources
Chapters 8 and 10
Learning Block 3
Launching the Venture
Business Plan Development
Chapter 4
Marketing in a New Venture
Chapter 11
Intellectual Property
Chapter 12
Growing New Ventures
Chapter 13
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Preparation Required in Advance of Sessions / Seminars
Students should read the relevant chapters shown in the modules prior to each module. Students wishing to achieve the maximum grades should also review relevant information as shown in the Internet sources above, i.e., “Other useful sources”; and also have consulted some of the readings presented in the relevant chapter of the book. The readings are an important learning source and supplement the session and text materials.
Student Engagement
During the sessions, students are expected to be able to discuss issues arising from the assigned chapters and readings for the topics as scheduled above.
Session participation is a vital element in the design of this module. Therefore, all students are expected to engage in class discussion and debate in order to facilitate the formation of their critical judgements.
To support your learning, power-point slides will be available which (on certain occasions) may need to be upgraded / modified during or following the sessions depending on the issues raised.
Learning Block 4
Building Success and Harvesting
Preparing and Attaining Growth
Strategies for Firm Growth
Chapter 14
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PART 4: ASSESSMENT DETAILS
Assessment is undertaken to establish the extent of student learning on completing a module and according to Biggs and Tang1 (2009), it is the senior partner of teaching and learning. This module has three assessment components with specific weightings and marks awarded totalling 100%2.
Assessment 1 (Assignment 1 – 20%)
A central part of the entrepreneurial process focuses on opportunity recognition and feasibility analysis. This is important because opportunity recognition and feasibility analysis are key activities that must be completed when investigating a new business idea.
For your Assignment 1 exercise, you are expected to identify a business idea for a new venture start-up, and to explain concisely in a ten page submission why you think your idea would be a valuable and feasible one to pursue in the marketplace.
The following structure is suggested:
 Drawing from Crunchbase startup database, each student is required to identify and review of 10 venture-capital backed startups that are pursuing high potential leading-edge entrepreneurial opportunities in the marketplace.
Crunchbase can be accessed by clicking on the following link.
http://www.crunchbase.com/
 In a 10-page submission document, provide a one-page overview for each selected startup company, and explain why you believe the company is pursuing an entrepreneurial opportunity – rather than just an idea.
 For each venture identified
i. Provide an description of the business and the funding secured by the venture
ii. What is the market opportunity?
1 Biggs, J. and Tang, C. 2009, Teaching for Quality Learning at University, Maidenhead: Open University/McGraw Hill.
2 As the Overseas Programme modules are worth 10 ECTS they should be graded out of 200 marks.
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iii. What is the target market?
iv. Why are customers going to buy/use the product/services?
v. How is the company going to make money?
This assignment must be submitted on the 7 March, 2016 by way of a hard copy and in soft copy via Blackboard.
Assessment 2: Opportunity Business Plan (30%)
The main project assignment constitutes 30% of the final examination marks. The project will involve undertaking an Opportunity Analysis and Business Plan project to identify and evaluate an entrepreneurial idea/opportunity for a start-up in the marketplace. This project will help you understand all of the formal tasks involved in the opportunity identification, evaluation and feasibility phases of the entrepreneurial process.
Groups should include a maximum of five/six persons.
The Project includes the following steps.
1. Lecturer will assign a start-up venture to you in class
2. Review and write up a background analysis of the Company
3. Review and discuss the megatrends surrounding this idea
4. Explain the industry and market conditions that favour/inhibit the venture’s success
5. Make Investment Decision:
(1) Is the company pursuing a valuable opportunity?
(2) Is the opportunity a feasible to pursue?
Provide a rationale for your decision.
Please note that a sample business plan template will be provided in class by Dr Rory O’Shea.
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As this is a group assignment, all members of the group will receive the same mark for the written submission of the project. However, all members are also required to submit an individual paper recording their contribution to group project. These individual papers should include reflections and experiences of working on the project within the group context. Reflections should include such elements as how the project contributed to the student’s overall learning on the module, how the group worked together, limitations within the activity, etc.
Please ensure that all names, student numbers and the title of this course are clearly stated on the top left hand of the first page of your report. This report must be submitted by 31st March, 2016 by way of a hard copy and in soft copy via Blackboard.
Students should also complete the Team Agreement Form which can be found in the Orientation folder on the Programme Area on Blackboard and is also included in the appendices at the end of this study guide.
Further details of this project will be provided in class. A sample Opportunity Evaluation/Business Plan template will also be reviewed during class time.
Guidelines
• Analytical rigour and quality of research will be paramount for this project.
• Word Count: between 5000-6000 words, using 12 font.
• Quality of Analysis – rather than length of assignment – will be the most important consideration used in the evaluation process.
• Please cite all secondary resources used in assignment, and incorporate a reference section in the appendix section of the project.
 You should also complete the Team Agreement Form which can be found in the Orientation folder on the Programme Area on Blackboard and is also included in the appendices at the end of this study guide.
 This assignment must be submitted on the 8th April, 2016 by way of a hard copy and in soft copy via Blackboard.
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Assessment 3 (Examination) – 50%
A final written examination will focus on module themes and the material covered in the textbook, cases, and assigned readings. For the exam, students are expected to demonstrate their understanding of theory and practice addressed throughout the module. The examination question format will be designed to allow you show your understanding of the topics discussed and also reveal your learning (new and prior). More specific guidelines regarding the examination paper format and questions will be provided during the final session of class.
Please ensure that all submissions are entirely your own work – for UCD’s policy on plagiarism click on the link below (please see Appendix 2 for further information on Plagiarism and the policy on the Late Submission of Coursework): http://www.ucd.ie/registry/academicsecretariat/plag_pol_proc.pdf
The weighting assigned for each component is shown in Table 2 below. (* I = Individual; G = Group)
Table 2 – Assessment Components
Assessment components Weighting I/T
1. Assignment 1 20% Individual
2. Assignment 2 30% Group
3. Examination 50% Individual
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PART 5: GRADING
This section of the Study Guide provides students with details of the UCD grading system and also explains criterion referenced grading (UCD Policy). Under criterion referenced grading, students are graded on the quality of their work without reference to other students (norm referenced). For instance, the submission that meets the required guidelines in terms of writing style, analysis, description and / or summary will be awarded according to the standards set out. All students’ work is graded to indicate the standard attained using the criterion referenced approach.
The UCD Grade, Grade Description and Grade Points are shown in Table 3.
Table 3: UCD Grading System
Grade
Description
Grade Point
A +
A
A-
Excellent
4.2
4.0
3.8
B+
B
B-
Very good
3.6
3.4
3.2
C+
C
C-
Good
3.0
2.8
2.6
D+
D
D-
Acceptable
2.4
2.2
2.0
E
Marginal
1.6
F
Fail (unacceptable, no compensation)
1.0
G
Fail (Wholly unacceptable; no compensation)
0.4
NG
Fail (Wholly unacceptable; no relevant attempt)
0.0
More specific grade descriptors are set out for your assessment components in the following pages. Table 4 below provides descriptors for the Assignment and Examination – please read them prior to submitting your work.
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Table 4: Grade Descriptors – Examination
Gr
Description
A
A deep and systematic engagement with the assessment task, with consistently impressive demonstration of a comprehensive mastery of the subject matter, reflecting:-
– A deep and broad knowledge and critical insight as well as extensive reading;
– A critical and comprehensive appreciation of the relevant literature or theoretical, technical or professional framework
– An exceptional ability to organise, analyse and present arguments fluently and lucidly with a high level of critical analysis, amply supported by evidence, citation or quotations;
– A highly-developed capacity for original, creative and logical thinking.
B
A substantial engagement with the assessment task, demonstrating:-
– A thorough familiarity with relevant lit. or theoretical, technical or professional framework
– Well-developed capacity to analyse issues, organise material, present arguments clearly and cogently well supported by evidence, citation or quotation;
– Some original insights and capacity for creative and logical thinking.
C
An intellectually competent and factually sound answer with, marked by,
– Evidence of a reasonable familiarity with the relevant literature or theoretical, technical or professional framework
– Good developed arguments, but more statements of ideas
– Arguments or statements adequately but not well supported by evidence/citations/ quotations.
– Some critical awareness and analytical qualities
– Some evidence of capacity for original and logical thinking
D
An acceptable level of intellectual engagement with the assessment task showing:-
– Some familiarity with the relevant literature or theoretical, technical or professional framework
– Mostly statements of ideas, with limited development of argument
– Limited use of evidence, citation or quotation
– Limited critical awareness displayed
– Limited evidence of capacity for original and logical thinking
D-
The minimum acceptable level of intellectual engagement with the assessment task with:-
– The minimum acceptable appreciation of the relevant literature or theoretical, technical or professional framework
– Ideas largely expressed as statements, with little or no developed or structured argument
– Minimum acceptable use of evidence, citation or quotation
– Little or no analysis or critical awareness displayed or is only partially successful
– Little or no demonstrated capacity for original and logical thinking
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E
A factually sound answer with a part successful, but not entirely acceptable, attempt to:-
– Integrate factual knowledge into a broader literature or theoretical, technical or professional framework
– Develop arguments
– Support ideas or arguments with evidence, citation or quotation
F
An unacceptable level of intellectual engagement with the assessment task, with:-
– No appreciation of the relevant literature or theoretical, technical or professional framework
– No developed or structured argument
– No use of evidence, citation or quotation
– No analysis or critical awareness displayed or is only partially successful
– No demonstrated capacity for original and logical thinking
G
No intellectual engagement with the assessment task
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Table 5: Grade Descriptors –Assignment 2
Gr
Description
A
A deep and systematic engagement with the assessment task, with consistently impressive demonstration of a comprehensive mastery of the subject matter, reflecting:-
– Shows thorough knowledge and understanding of the topic
– Essay shows resources and imaginative analysis
– Clear evidence of wide and relevant reading
– Clear structure which enhances the argument and discussion
B
A substantial engagement with the assessment task, demonstrating:-
– Shows relevant and sound knowledge and understanding of the topic
– Shows evidence of analysis using ideas & principles introduced during the module
– Essay is well informed by reading beyond the key texts
– Structure is clear and supports coherent discussion and argument
C
An intellectually competent and factually sound answer with, marked by,
– Shows relevant knowledge of the topic
– Essay is largely descriptive – uses some module insights
– Effective use of key readings
– Structure supports the discussion and argument
D
An acceptable level of intellectual engagement with the assessment task showing:-
– Shows basic knowledge of the topic
– Limited description with facts which are unsupported
– Limited use of reading
– Evidence of structure relevant to the title
D-
The minimum acceptable level of intellectual engagement with the assessment task with:-
– Shows very basic knowledge of the topic
– Very limited description with facts which are unsupported
– Very limited use of reading
– Little evidence of structure relevant to the title
E
A factually sound answer with a part successful, but not entirely acceptable, attempt to:-
– Emerging knowledge, but insufficient
– Essay is descriptive and uncritical with some inaccuracy in material
– Limited referencing and poor style
– Key issues omitted with repetition
F
An unacceptable level of intellectual engagement with the assessment task, with:-
– No analysis or critical awareness displayed or is only partially successful
– No demonstrated capacity for original and logical thinking
G
No intellectual engagement with the assessment task
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Table 6: Grade Descriptors – Assignment 1
Gr
Description
A
A deep and systematic engagement with the assessment task, with consistently impressive demonstration of a comprehensive mastery of the subject matter, reflecting:-
– Demonstrates thorough knowledge and understanding of the topic
– Clear structure which enhances the argument and discussion
B
A substantial engagement with the assessment task, demonstrating:-
– Demonstrates relevant and sound knowledge and understanding of the topic
– Structure is clear and supports coherent discussion and argument
C
An intellectually competent and factually sound answer with, marked by,
– Demonstrating relevant knowledge of the topic
– Structure supports the discussion and argument
D
An acceptable level of intellectual engagement with the assessment task showing:-
– Shows basic knowledge of the topic
– Limited description with facts which are unsupported
– Limited use of reading
– Evidence of structure relevant to the title
D-
The minimum acceptable level of intellectual engagement with the assessment task with:-
– Demonstrates very basic knowledge of the topic
– Little evidence of structure relevant to the title
E
A factually sound answer with a part successful, but not entirely acceptable, attempt to:-
– Demonstrates emerging knowledge, but insufficient
– Essay is descriptive and uncritical with some inaccuracy in material
F
An unacceptable level of intellectual engagement with the assessment task, with:-
– Demonstrates no appreciation of the literature or theoretical framework
– No developed or structured argument
G
No intellectual engagement with the assessment task
NB All students are advised to read the UCD Business School Code of Practice for Group work – see Appendix 1.
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PART 6: Topics
Learning Block 1
Topic Title : Opportunity Analysis and Entrepreneurial Mindset
Recommended Reading:
 Entrepreneurship: Successfully Launching New Ventures (4e). Bruce R. Barringer. Duane Ireland.
On completion of studying this topic you should be able to:
 Describe what entrepreneurship is.
 Describe the process perspective on entrepreneurship, and list the major phases of this process
 Define an entrepreneurial opportunity and explain why such opportunities exist.
 List the different forms that entrepreneurial opportunities can take, and explain why some forms are better for new firms than others.
 Explain why new firms are more successful in some industries than in others, and identify the four major types of industry differences that influence the relative success of new firms.
 Describe how technological, political/regulatory, and social, demographic changes generate entrepreneurial opportunities.
 Identify the types of opportunities that new firms are better at exploiting, and explain why new firms are advantaged at the exploitation of these opportunities
 List the different forms that entrepreneurial opportunities can take, and explain why some forms are better for new firms than others.
 Define creativity and explain the role that concepts play in it.
 Explain why cognitive processes provide an important foundation for understanding creativity and opportunity recognition
 List several factors that influence creativity, as described by the confluence approach are some people better at identifying opportunities than others? How does this process occur?
 List several steps you can take as an individual to increase your skill at recognising potentially valuable opportunities.
Learning Block 2
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Acquiring Necessary Information/Resources to Launch the Business
Recommended Reading:
 Entrepreneurship: Successfully Launching New Ventures (4e). Bruce R. Barringer. Duane Ireland.
 Heather Evans by Howard H. Stevenson, Michael J. Roberts Source: HBS Premier Case Collection 46 pages. Publication date: Sep 23, 1983. Prod. #: 384079-PDF-ENG
On completion of studying this topic you should understand the following:
 Explain why entrepreneurs need to gather several kinds of information before launching their new venture and describe the nature of that information.
 Explain why it is difficult for entrepreneurs to raise money from external investors.
 Explain why direct and indirect social ties are important to raising money from external investors.
 Explain the sources of finances used by entrepreneurs to secure money
 Review and understand proforma financial statements
Learning Block 3:
Launching the Entrepreneurial Ventures
Recommended Reading:
 Entrepreneurship: Successfully Launching New Ventures (4e). Bruce R. Barringer. Duane Ireland.
On completion of studying this topic you should understand the following:
 Describe the major forms of business ownership – sole proprietorship, partnerships, corporations and explain the advantages and disadvantages of each.
 Define franchising and describe the two major types – trade name franchising and business format franchising.
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 Explain why entrepreneurs use different techniques to assess customer preferences in new and established markets, and identify those different techniques. Describe the typical new product adoption pattern and explain how it influences entrepreneurial action.
 Define a competitive advantage and explain why an entrepreneur needs to have one to be successful.
 Describe a new firm strategy, and explain why entrepreneurs need one to protect their profits from opportunity exploitation
 Distinguish between efforts to keep others from learning about or understanding the business ideas and barriers to imitation, and explain why both are important to entrepreneurs.
 List the legal and non legal barriers to imitation that entrepreneurs use to help their businesses.
Learning Block 4
Building Success and Harvesting the Venture
Recommended Reading:
 Entrepreneurship: Successfully Launching New Ventures (4e). Bruce R. Barringer. Duane Ireland.
On completion of studying this topic you should understand the following:
 What are the different skills that can help entrepreneurs build successful ventures?
 Explain the main challenges of new firm growth.
 Describe the factors that have been found to affect the rate of growth of new ventures
 Define managerial capacity and explain why it can sometimes limit growth
 Explain the internal and external strategies for encouraging firm growth
 Describe various strategies entrepreneurs can use to transfer ownership of their companies to family members.
PART 7: CONCLUDING COMMENTS
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This Study Guide is designed to assist and guide your learning for this module. It is important that you read it regularly and do so in conjunction with the core text, the assigned readings and session materials. Should you need clarification on issues covered, please let me know during the seminar sessions.
I hope you enjoy the module and wish you good luck with the rest of your study and for the future.
Name of Module Co-ordinators, Dr Rory O’Shea & Dr Thum Weng-Ho
January 2016
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APPENDIX 1 Student Code of Practice – Group Work
UCD SCHOOL OF BUSINESS
STUDENT CODE OF PRACTICE – GROUP WORK3
There are many reasons for using group work in higher education such as enhancing student learning, promoting social interaction among students, developing generic skills (including negotiation, delegation and leadership) and the individual students’ strengths and expertise. There is an onus on the group to ensure that individual members provide maximum effort in completing the assigned task/project. There is evidence to suggest that individuals frequently exert less effort on collective tasks than on individual tasks (Williams and Karau, 1991)4. As the group size increases the Ringlemann Effect emerges: there can be an inverse relationship between the size of the group and effort expended. It is fair to assume that group effectiveness will increase when members work on tasks that are mutually important and when each member believes they are contributing to an end goal.
UCD School of Business personnel are obliged to ensure that the operation and management of assigned group-work are consistent with the integrity of the university assessment process. It is also expected that, where the group-work contributes to a module grade, members are awarded grades that accurately reflect their contribution to the completion of the task.
This Code of Practice is developed to guide the work of student groups within an academic setting and safeguard the integrity of group-based projects as part of our assessment of student learning outcomes.
1. All Group members (whether assigned or self selected) are expected to contribute actively and equitably to the completion of the exercise/project
2. All groups will set out and agree basic ground rules for their group in terms of group communication procedures, performance targets, arranging and organizing meetings, records, progress reports, solving problems, finalizing the project and signing off.
3Members of the School of Business Teaching and Learning Committee contributed to the development of this protocol.
4 Williams, K.D., & Karau, S. J. (1991). Social loafing and social compensation: The effects of expectations of co-worker performance. Journal of Personality and Social Psychology, 61(4), 570-581.
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3. Roles (such as leader, convener or facilitator) might be assigned to particular group members to facilitate the working of the group and specific milestones (weekly) agreed.
4. Group membership diversity (cultural, professional etc.) needs to be acknowledged, valued and utilized as appropriate.
5. Group work undertaken by UCD School of Business students is subject to UCD policy on academic programmes. For further details on this policy go to http://www.ucd.ie/registry/academicsecretariat/student_code.pdf
6. UCD promotes an environment upholding the dignity and respect of all students as set out in its policy on Dignity and Respect –
University College Dublin is committed to the promotion of an environment for work and study which upholds the dignity and respect of the individual and which supports every individual’s right to study and/or work in an environment which is free of any form of harassment, intimidation or bullying.
The university recognizes the right of every individual to such an environment and requires all members of the University community to recognize their responsibilities in this regard.
Students are advised to read this policy document – click on:
http://www.ucd.ie/equality/policieslegislation/dignity_respect_policy.pdf
7. Any group member who is concerned about a member’s contribution to the group work (and associated activities) must firstly communicate this (at the earliest time possible) to the group members, and they must strive to resolve the problem.
8. If a group member believes that his/her concerns have not been addressed satisfactorily within the group, the matter should be brought to the attention of the module coordinator. The module coordinator/learning support officer (LSO) should strive to resolve the issue at group level. Where this has not been achieved, the Academic Coordinator and/or the School Head of Teaching and Learning will be informed.
9. Should the issues not be resolved, the parties above, taking into consideration the stipulations of this code and the University policy documents to which it refers, will to seek to mediate to find a solution, which is acceptable to group members and which retains the integrity of the group work assessment process.
28
APPENDIX 2: TWO IMPORTANT DOCUMENTS
You are advised to read the important documents before you commence your studies on this module:
1. Guidelines for the Late Submission of Coursework
This document provides a detailed outline of the rules and regulations surrounding the presentation, submission and marking of assignments. The guidelines provided must be adhered at all times to avoid an unnecessary loss of marks. Further details on
www.ucd.ie/registry/academicsecretariat/late_sub.pdf
2. A Briefing Document for Students on Academic Integrity and Plagiarism.
The University understands plagiarism to be the inclusion of another person’s writings or ideas or works, in any formally presented work (including essays, theses, examinations, projects, laboratory reports, oral, poster or slide presentations) which form part of the assessment requirements for a module or programme of study, without due acknowledgement either wholly or in part of the original source of the material through appropriate citation. Further details please go to
www.ucd.ie/registry/academicsecretariat/plag_pol_proc.pdf
Plagiarism is a form of academic dishonesty. In any assignment, plagiarism means that you have presented information or ideas belonging to someone else falsely as being your own original thoughts on a subject.
All assessments/projects submitted must be the result of your own work.
The following statement must be included on the cover page of all assignments submitted:
I declare that all materials included in this essay/report/project/dissertation is the end result of my own work and that due acknowledgement have been given in the bibliography and references to ALL sources be they printed, electronic or personal.
Signed: Student name/s, student number
Date:
29
APPENDIX 3:
TEAM AGREEMENT FOR TEAM X [DATE: ]
TEAM MEMBERS
CONTACT DETAILS
MOBILE EMAIL
1
2
3
4
5
6
INFORMAL COMMUNICATION
We have decided
1)
2)
3)
MEETINGS
We have decided
1)
2)
3)
MAKING DECISIONS
We have agreed
1)
2)
3)
4)
5)
SANCTIONS
We hope to work in harmony together. We have different strengths. We accept that this is a group piece of work and we are all responsible for doing our best. However we agree now that
 If individuals have difficulties in working with the team or on the task, we will try to sort them out promptly by talking with each other
 We will seek advice – as soon as is possible – from our tutor for those serious problems which we cannot resolve ourselves.
SIGNED
30
APPENDIX 4 An example of a recent examination paper.
Note to Students:
Providing a copy of this paper does not signify that future papers will follow the exact same format.
Students should answer 4 of the following questions; all questions carry equal marks.
1 “Entrepreneurship can be explained by considering the nexus of enterprising individuals and valuable opportunities and by using that nexus to understand the processes of discovery and exploitation of opportunities; the acquisition of resources; entrepreneurial strategy; and the organising process” (Shane 2005). Discuss the process perspective on entrepreneurship.
2 “Idea generation and opportunity recognition is a vital step in the process of creating a new venture” (Roche 2005). Explain why cognitive processes provide an important foundation for understanding creativity and opportunity recognition.
List several steps entrepreneurs can take to increase their skill at recognising potentially valuable opportunities.
3 “Entrepreneurs use a number of important tools to figure out how much money is needed for a start-up business” (Bygrave, 2004). Explain how entrepreneurs create proforma financial and cash flow statements and conduct a breakeven analysis. Illustrate your answer with examples from your opportunity assessment project.
4 Describe a new firm strategy, and explain the entrepreneurial strategy frameworks entrepreneurs employ to assess the market potential of their opportunities.
5 Explain why product development in new firms is difficult, but why new firms tend to be better than established firms at product development in most industries.
6 “A patent is a grant from the government conferring the rights to exclude others from making, selling or using an invention for the term of the patent (Esteve, 2006)”.
(i) Identify three types of patent
(ii) Describe the process of obtaining a patent.
31
Appendix 5:
LIST OF USEFUL WEB SITES IN ENTREPRENEURSHIP
Entrepreneurship Focused Periodicals
Periodical
Web Site Address
American Venture
www.avce.com
Entrepreneur
www.entrepreneur.com
Fast Company
www.fastcompany.com
Home Business Magazine
www.homebusinessmag.com
Inc.
www.inc.com
Industry Week
www.industryweek.com/
Information Week
www.informationweek.com
Minority Business Entrepreneur
www.mbemag.com
MIT Technology Review
www.technologyreview.com
Private Equity Week
www.pewnews.com/
San Jose Mercury News
www.mercurynews.com/
Small Business Opportunities
www.sbomag.com
Wired
www.wired.com
32
Entrepreneurship Focused Web Sites (general information)
Web Site
Web Site Address
All Business
www.allbusiness.com
BizStats.com
www.bizstats.com
Bizwomen.com
www.bizjournals.com/bizwomen
Business 2.0
www.business2.com
BusinessFinance.com
www.businessfinance.com
Business Owner’s Toolkit
www.toolkit.cch.com
Business Resource Center
www.morebusiness.com
Business Week Small Business
www.businessweek.com/smallbiz
Center for Women’s Business Research
www.womensbusinessresearch.org
Entrepreneurship (Kauffman Foundation)
www.entrepreneurship.org
Global Entrepreneurship Monitor
www.gemconsortium.org
Harvard Business School Entrepreneurs
www.hbs.edu/entrepreneurs
Idea Café
www.businessownersideacafe.com
Making It!
www.makingittv.com
National Federation of Independent Businesses
www.nfib.com
Peerspectives
www.peerspectives.org
Red Herring
www.redherring.com
SEC Filings
www.sec.gov/edgar.shtml
Small Business Advisor
www.isquare.com
Small Business Resources
www.smallbusinessresources.com
Small Business Trends
www.smallbiztrends.com
33
STVP Educators Corner (Stanford)
http://edcorner.stanford.edu
U.S. Small Business Administration
www.sba.gov
The Wall Street Journal Small Business
www.startupjournal.com
Yahoo! Finance
http://biz.yahoo.com/ic/index.html
Entrepreneurship Focused Web Sites (specific information)
Web Site
Web Site Address
BizPlanIt
www.bizplanit.com
BizStats
www.bizstats.com
Board Member
www.boardmember.com
Bplans
www.bplans.com
Business Plan Archive
www.businessplanarchive.org
Business Plan Writing Help Center
www.growthink.com/helpcenter.html
BusinessFinance.com
www.businessfinance.com
Business Owners’ Idea Cafe
www.businessownersideacafe.com
Center for Business Planning
www.businessplans.org
Center for Rural Entrepreneurship
http://www.energizingentrepreneurs.org/
Collegiate Entrepreneurs Organization
www.c-e-o.org
E2 Environmental Entrepreneurship
www.e2.org
Coolbusinessideas
www.coolbusinessideas.com
Evan Carmichael
www.evancarmichael.com
Fambiz.com (family business)
www.fambiz.com
FindLaw
http://biz.findlaw.com
Franchise.com
www.franchise.com
34
Franchise Direct
www.franchisedirect.com
Franchise Opportunities
http://www.franchiseopportunities.com/
Garage Technology Ventures
www.garage.com
Inc. 500
www.inc.com/resources/inc500/index.html
International Franchise Association
www.franchise.org
InternetNews.com
www.internetnews.com/bus-news
Marketwatch From Dow Jones
www.marketwatch.com
MegaLaw
www.megalaw.com
Money Tree Report
www.pwcmoneytree.com
NASDAQ
www.nasdaq.com
National Business Incubation Association
www.nbia.org/
National Collegiate Inventors & Innovators Alliance
www.nciia.org
National Inventor Fraud Center
www.inventorfraud.com
National Venture Capital Association
www.nvca.org
Service Corps of Retired Executives
www.score.org
SiliconValleyWatcher
www.siliconvalleywatcher.com
Startup Review
www.startup-review.com
The Capital Connection
www.capital-connection.com
The Center for Venture Research
http://wsbe.unh.edu/cvr
Tradepub
http://internet.tradepub.com
U.S. Patent and Trademark Office
www.uspto.gov/
Valuation Resources
www.valuationresources.com
Yahoo? Finance
http://finance.yahoo.com
35
Entrepreneurship Focused Blogs
Blog
Web Site Address
A VC—Musings of a VC in NYC
http://avc.blogs.com
Action Talk
http://actionstalk.com/
Ask the VC
http://www.askthevc.com/blog/
Be Excellent
http://sixdisciplines.blogspot.com
Ben Casonocha
http://ben.casnocha.com/
Campus Entrepreneurship
http://campusentrepreneurship.wordpress.com/
Canadian Entrepreneur
http://canentrepreneur.blogspot.com/
Duct Tape Marketing Blog

Home


EarlyStageVC
http://earlystagevc.typepad.com
Entrepreneur Magazine
www.entrepreneur.com/blog
Entrepreneurs-Journal
www.entrepreneurs-journey.com
Feld Thoughts
http://www.feld.com/wp/
Grade A Entrepreneurs
http://delbourg-delphis.com/
Guy Kawasaki’s Blog
http://blog.guykawasaki.com/
Innovation.Net Weblog
http://venture2.typepad.com/innovationnet
John Battelle’s Searchblog
http://battellemedia.com
Life Beyond Code
http://www.lifebeyondcode.com/
Outside the Valley
www.outsidethevalley.com
Paul Allen
www.paulallen.net
Redeye VC
http://redeye.firstround.com
Seth Godin Blog
www.sethgodin.com/sg/
36
SiliconBeat
www.siliconbeat.com
Small Business Labs
http://genylabs.typepad.com/small_biz_labs/
Social Entrepreneurship Blog
www.socialroi.com
Start-Up Guide
http://startupguide.typepad.com
Texas Startup Blog
http://texasvc.weblogswork.com
The Entrepreneurial Mind (Dr. Jeff Cornwall)
http://www.drjeffcornwall.com/
The Heart of Innovation
http://www.ideachampions.com/weblogs/
Up and Running (Tim Berry)
http://upandrunning.entrepreneur.com/
Vartornews TV
http://vator.tv/news
VenturBeat
www.venturebeat.com
VentureBlog—A Random Walk Down Sand Hill Road
www.ventureblog.com
YoungEntrepreneur
www.youngentrepreneur.com/blog
Entrepreneurship Focused Podcasts
Podcast
Web Site Address
Harvard Business IdeaCast
http://hbsp.libsyn.com/rss
Inc. “Inside the Issue”
www.inc.com/podcasts
Innovate
http://iinnovate.blogspot.com
Killer Innovations
http://www.techtrend.com/blog/
Small Business Trends
www.smbtrendwire.com
Stanford Educators Corner
http://edcorner.stanford.edu/podcasts.html
Startupnation.com
www.startupnation.com
This Week in Technology
www.twit.tv
Time Business Podcast
www.time.com/time/podcasts
37
Venture Voice
http://www.venturevoice.com
Entrepreneurship Focused Scholarly Journals
Journal
Web Site Address
Entrepreneurship & Regional Development
http://www.tandf.co.uk/journals/titles/08985626.asp
Entrepreneurship Theory & Practice
www.blackwellpublishing.com/journal.asp?ref=1042-2587
Frontiers of Entrepreneurship Research
www.babson.edu/entrep/fer/
Journal of Business Venturing
www.sciencedirect.com/science/journal/08839026
Journal of Small Business Management
http://www.wiley.com/bw/journal.asp?ref=0047-2778
Small Business Economics
http://www.ingenta.com/journals/browse/klu/sbej
Strategic Entrepreneurship Journal
http://www3.interscience.wiley.com/journal/113412125/home?CRETRY=1&SRETRY=0
The Journal of Product Innovation Management
http://www.blackwellpublishing.com/journal.asp?ref=0737-6782
38
Venture Capital
http://www.tandf.co.uk/journals/titles/13691066.asp
Source
Description
American Factfinder (http://www.factfinder. census.gov)
An easy-to-use portal for obtaining census data. One quick way to retrieve data is to get a “Fact Sheet” on a geographic area (by city, county, or ZIP code), which provides population, medium household income, demographic breakdown (age, gender, race), and other information.
BizStats (http://www.bizstats.com)
Has a variety of detailed financial data on various retail categories. On the site, a user can type in the projected income of a firm, by industry, and receive a mock income statement in return.
Business & Company Resource Center (http://www.gale. com/BusinessRC)
Access to information on the organization and structure of industries, current industry trends, and other information.
City-Data.com (http://www. city-data.com)
Contains detailed information on cities, including median resident age, median household income, ethnic mix of residents, and aerial photos.
County Business Patterns (http://www.census.gov/ epcd/cbp/view/ cbpview.html)
Good resources for looking at business activity, including the number of competitors, at a city, county, or state level. For example, you can find the number of drycleaners (or any other business) in a specific ZIP code or city.
39
Source
Description
Hoovers Online (http://www. hoovers.com)
Brief histories and financial information on companies, industries, people, and products. Premium service provides access to detailed financial information and 10-K reports for publicly traded firms.
IBISWorld (http://www.ibisworld. com)
Detailed reports available on hundreds of industries, including industry stats, trends, buyer behavior, and expected returns.
Lexis-Nexis Academic (http://www. lexisnexis.com)
Provides access to sales data for public and private firms, which can be searched in a number of useful ways. Helps startups estimate the financial performance of similar businesses. Go to “Business” and then “Company Financial.”
MagPortal.com (http://www.magportal.com)
Search engine and directory for finding online magazine articles. Helps startups by providing access to magazine articles about their product/ service and industry of interest. This information may be helpful in all areas of feasibility analysis.
Mergent Online (http://www. mergentonline.com)
Provides near instant access to financial data, including income statements, balance sheets, and cash flows, on more than 10,000 U.S. public corporations.
Mintel (http://www. mintel.com)
Detailed reports available on hundreds of industries, including industry stats, trends, buyer behavior, and expected returns.
40
Source
Description
ProQuest (no public Web site available)
Very robust search engine for searching publications such as the Wall Street Journal and the New York Times. Useful for all areas of feasibility analysis.
Quickfacts (http://quickfacts.census. gov)
A very quick way to access census bureau data, including population, median household income, census breakdowns by age and other demographic characteristics, and so on.
ReferenceUSA (http://www.referenceusa. com)
Provides contact information, estimated annual sales, credit rating score, year established, news, and other information on both public and private companies. Contains more information on private firms than many similar sites. Helps startups estimate the financial performance of similar businesses.
Standard & Poor’s NetAdvantage (http://www.netadvantage.standardpoor. com)
Detailed reports available on hundreds of industries, including industry stats, trends, buyer behavior, and expected returns.

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