BUSN3026 Business Planning for New Ventures

2015

4.5

1 x 3-hour seminar weekly

1 54 units of credit completed
2 BUSN2026 - Entrepreneurship and Small Business
3 Admission into BCAFS-Bachelor of Creative Arts (Fashion)
4 36 Units of credit completed
5 BUSN2026 - Entrepreneurship and Small Business
Must Satisfy: ((1 and 2) or (3 and 4 and 5))

1 of BUSN2006, BUSN2016, COMP3200, ECON2014, ECON2015, ECON3038 has been successfully completed

This topic is about enhancing the skills and knowledge most often associated with successful entrepreneurs, with special emphasis being placed on enhancing the skills and knowledge required to successfully analyse and plan new businesses. As such the main learning activity of this topic is the development of a viable business plan for a start-up venture. Students will work in small groups and all aspects of planning a new venture will be covered, from undertaking a feasibility study and analysing funding requirements, to identifying sources of finance and formulating a marketing strategy, through to determining operational and human resource aspects of the proposed new business. While the focus is on planning a start-up venture the skills and knowledge acquired through this topic are also relevant to successfully pursuing other business opportunities, including planning the expansion of established businesses and evaluating the purchase of an existing business as a means of entering into business ownership.

The aims of this topic are to:

• equip students with the skills and knowledge necessary to be able to properly analyse business opportunities
• give students a solid and practical understanding of the issues involved in planning and commencing a new business
• enhance the skills and abilities of students to plan and commence a new business
• develop team-working skills
• develop leadership skills and both written and oral communication skills
• develop creativity in identifying business opportunities and in solving business related problems

Upon successfully completing this topic students will be able to:

1. Identify and explain the key components of a comprehensive and effective business plan
2. Effectively research and analyse possible business opportunities, to the extent of being able to determine their commercial feasibility or, for social enterprises, their financial feasibility
3. Identify and address all issues necessary to formulate a viable business plan, including identifying the resources required for establishing a new venture, preparing a marketing plan, undertaking financial analysis, and determining strategies to ensure a sustainable competitive advantage or, for social enterprises, financial sustainability
4. Assess the risks associated with the establishment of a new venture, formulate strategies to manage these risks and develop contingency plans
5. Find creative solutions to business problems
6. Exhibit enhanced skills in working as part of a team
7. Exhibit high quality oral and written communication skills.