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This course is concerned with the nature of entrepreneurs; the entrepreneurial process; and the development and growth of small and medium-sized businesses.
The main focus of this course is the independent entrepreneur as business founder. The course covers the nature of entrepreneurs; how and why they start businesses; why many fail; why sustained growth is so rare; how new and small businesses are financed; Issues of gender and ethnicity; and special features of family firms. Recent research findings will be incorporated. Case studies are used extensively and students must also produce their own business plan.Relationship to other coursesThis is an integrative course that will apply knowledge from the main functional areas of Management and also from MGMT320. It also prepares students for the Honours course on Entrepreneurship (MGMT641).WorkloadIn the 2014 CEM course survey, this course rated 4.7 (out of 5.0) and 100% of respondents either ‘agreed’ or ‘strongly agreed’ that the workload was ‘appropriate to achieving the course aims’. Students can manage their own workload to an extent by choosing which case studies to submit. They need to commence work on the Business Plans during the first half of the course. The final exam is a summative assessment offering a choice of questions to answer. (A copy of the 2014 final exam will be posted to the LEARN site.)
Programme Learning GoalsGoal 1: Graduates can demonstrate advanced knowledge of their selected subject major, informed by the broader context of Commerce;Goal 2: Graduates are able to use analytical thinking and problem-solving skills to address specific problems;Goal 3: Graduates can understand issues from a range of ethical, global and multicultural perspectives;Goal 4: Graduates are able to communicate effectively both orally and in written form.The specific Learning Outcomes for this course contribute to these BCom Learning Goals. This course will enable students to advise and/or act appropriately with regard to:1. The identification and evaluation of new venture opportunities.2. Small business growth and development, including financing.3. The preparation and critique of business plans.
(1) ACCT102; and (2) 45 points at 200-level or above in MGMT, MKTG or MSCI
BSAD305, BSAD314
There are no tutorials in this course. Office hours will be confirmed and individual appointments can be made via email.
Bob Hamilton
Morgan Miles
Glen Senior, CEO The Small Business Company: Guest Lecturer
This course uses three forms of assessment: case studies, a business plan, and a final exam. Case study reportsThere are four case studies available for assessment but you need do only two. If you choose to hand in more than two, the best two marks will count. These are to be submitted at the start of the class on the day they are due. Alternatively there is a MANAGEMENT drop box in the College Office, Level 2 Business and Law Building which will close shortly after the class. Note these due dates are: 4th August; 18th August; 22nd September; 2nd October. The case study assignment questions are set out below. Case study reports must be individual work. You may find these questions rather general, but this is intentional. You have to provide the clarity.The marking criteria for case study reports are:• Does it have depth and accuracy, including understanding and appropriate application of course content? • Are key issues identified quickly? Are all assumptions, conclusions and recommendations adequately justified?• Does the analysis ‘add value’? Would the client be happy to pay commercial rates for your advice? • Are clarity, good style, and professionalism evident?• Does it conform to specified length, deadlines and other instructions?Very low marks, if any, would be awarded to an ‘analysis’ that just described the problems evident in the case study; ignored key information, e.g., financial data; and then advised that the business hire a consultant to work on their problems!Case Study 1 assignment: Bright Ideas (due 4 August)The founders of this business are seeking an investment of $500,000 for a 25% stake in the company. You have been asked by a potential investor to advise her on this proposed deal. She wants from you (1) a critical evaluation of the business plan and (2) a monthly cash flow for the first 18 months of operation. Should she invest her $500,000 for the 25% stake? If yes, provide justifications. If no, explain why not, and consider if there is an alternative deal [lower investment, higher stake] that you would recommend instead. (This draws on material covered especially in Lectures 3, 4 and 5. You can also apply the Business Plan marking criteria set out below in this Course Outline.)Case Study 2 assignment: Burton Walls Electric (due 18 August)Mr Burton Walls has grown this business over the past fourteen years. He is now considering a significant expansion which brings with it a number of risks. Mr Walls needs your help in making an ‘intelligent decision’. What advice would you give him concerning the best size for the long-run best interests of the business, the employees, and his immediate family.(This case draws mainly on Lectures 8 and 9.)Case Study 3: Prolife Foods (due 22 September)Andrew Smith, CEO of Prolife Foods, has come to you for advice. He is seeking to increase revenue by $100m in the next 3-5 years. Advise him.(This case draws on Lectures 8, 9, 11 and 14.) Case Study 4: Entrepreneurial Marketing (due 2 October)Discuss why and how 42Below Vodka and Penderyn Whisky were able to use innovation, act proactively, and take risks in the pricing, promotion and distribution of their products. Using the seven core dimensions of EM, outline the nature and extent of EM in the Business Plan you are writing in this course. (This assignment draws mainly on Lecture 17 and, to a lesser extent, Lecture 9.)The case studies are included in the reading material provided and also on the LEARN site. Maximum assignment length is 1200-1500 words (say 3-4 pages) excluding financial appendices. Be brief and use bullet points when you can. Always reference the sources that you use. Professionalism is expected. You must assume that you are producing this work for a real client – you could be in this position quite soon. This is what the marker will be looking for.Business PlanAssume on leaving university that you are going to be self-employed. You are to prepare a business plan for a new business of your own. A plan for the significant development of an existing small business may be acceptable but must be approved in advance by the Course Co-ordinator. Every plan must contain a detailed monthly cash flow covering the first 18 months of the new business. You can work on these plans in pairs if this is appropriate but with the understanding that each member of a pair will get the same mark. There is no disadvantage in working on your own: the marking will take into account the number of hours available. There is also no penalty in producing a plan for a business that is shown not to be sufficiently viable. The business plans however must develop a business to a scale that could potentially sustain the founder(s). Small-scale 'hobby' businesses operating part-time will not be sufficient unless expansion is included as part of the plan. Here is a summary of the Business Plan marking guidelines, which will be expanded upon in lectures:Business Plan Marking ScheduleThese guidelines are a summary of what we are looking for in a business plan. Grades will be assessed based on achieving excellence in these areas, acknowledging that not all business ideas will need to cover all of these points (as some may not be relevant). This is also not an exhaustive list – some businesses will need to include topics relevant just to that business. The business plan overallIs a well presented and written document that clearly communicates the business idea, which can be understood by someone from outside of the industry. The reason for the business plan is stated up front. Key elements from lectures and the websites www.business.govt.nz and http://www.officemax.co.nz/businesscorner, are incorporated where relevant.The businessThe compelling benefits are explained and justified. The route to market and how the target market(s) will be secured is realistic. There is a demonstrated knowledge of the marketplace and who the customer is and how they buy. (See Experiential learning – below.)FinancialProjected income is credible, defensible and consistent with the business plan as a whole. Financial forecasts are provided in as much detail as needed, demonstrating an ability of the company to generate cash flow and sustainability. Timescales, break-even projections, expected returns on investment and recouping of initial investment are presented and justified.An 18 month cash flow must be included, which is realistic and well researched. Sales projections can be justified and expenses are practical and relevant. Experiential learningThe best test of any business plan is to sell the product or service. So credit will be given where there is evidence of actual sales to customers. One of the best business plans in recent years involved baking extravagant cakes etc, selling these at farmers’ markets. The students were able to test the market by varying the size and price of the product while making a profit. Maximum word length for the Business Plan is 4000 words (say 12 pages) excluding financial and other appendices. The due date is 5pm Friday 16th October. Hand-in to the College Office, Level 2, Business & Law Building.Final examinationThe course also has a final exam at a time that will be published at the beginning of the semester. This will involve essay style answers and there will be a choice of questions, as there has been in previous years. The final examination may not cover all the course content: this will be made clear once the course is underway. The 2014 final exam paper is posted to the LEARN site and is a reasonable indication of the type of question to expect in 2015.GradingMarks are not normally standardised in this course. Grading follows the Department of Management, Marketing and Entrepreneurship's Academic Policies for Undergraduate Courses (see link below). Cut-points used to convert marks to final grades may vary slightly and therefore 50% may not translate into a passing grade.Coversheets - Group and Individual
Carter, Sara. , Jones-Evans, Dylan; Enterprise and small business : principles, practice and policy ; 3rd ed; Pearson, 2012.
The course textbook is Enterprise and Small Business: Principles, Practice and Policy, edited by Sara Carter and Dylan Jones-Evans (3rd ed, 2012) and is in the University Bookshop. It is essential that you have access to this book as it forms an integral part of the course. Copies are on restricted loan from the Central Library. We also use current online content. Students should become familiar with these websites as soon as possible. There is also a handout which contains this Course Outline and assessment case studies. Lecture notes, some audio lectures and all other materials will be posted directly on to the course LEARN site. Please get familiar with this and check it regularly.
MGMT321S2 Course Outline LEARN
Class RepresentativeA class representative may be asked to volunteer in the first few weeks of class. Any problems with the course can be raised with the class rep. Their email can be found at UCSA. The class representative will take up any issues raised by class members with the lecturer concerned as they occur.Departmental Academic Policies The Department assumes that you have read this document.You should also read the General Course and Examination Regulations Dishonest PracticeThe University of Canterbury considers cheating and plagiarism to be serious acts of dishonesty. All assessed work must be your own individual work unless specifically stated otherwise in the assessment guidelines. Material quoted from any other source must be clearly acknowledged. You must not copy the work of another person (student or published work) in any assessment including examinations, tests and assignments. Any person, who is found to have copied someone else's work, or to have allowed their work to be copied, will receive a fail grade for that piece of assessment and may face disciplinary action which may lead to a fine, community service or exclusion from the university.IMPORTANT: Where there are concerns regarding the authorship of written course work, a student can be required to provide a formal, oral explanation of the content of their work.Coversheets - Group and Individual
Domestic fee $1,475.00
International fee $6,250.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Management, Marketing and Tourism .