New Venture Strategy and Planning

Programme Overview

This module will equip intending entrepreneurs with the knowledge and skills needed to transform an initial business opportunity into a new business venture. It begins by reviewing those special characteristics of entrepreneurial behaviour that are especially helpful in new venture creation; and by assessing the further assistance available through the adoption of a strategic perspective on future business planning. It then discusses the need for a clearly defined business model that will take full advantage of the business opportunity that has been identified, and the subsequent need for a formal business plan that outlines the new venture’s intended direction and the methods it intends to use to pursue that direction. The course concludes with a brief discussion of those aspects of the entrepreneurial strategy process that require us to think ahead into a largely unknown future. 

Learning Outcomes

1. Evaluate the implications of combining an entrepreneurial philosophy with a strategic approach to business development. 
2. Analyse the developmental stages of an entrepreneurial business venture.
3. Develop a business model to exploit a new venture opportunity. 
4. Prepare a business plan to show how the business model can be operationalised. 
5. Develop a series of actions by which the business plan can be implemented.