BUSN9026 Business Planning for New Ventures

2015

4.5

1 x 3-hour seminar weekly

1 Admission into MBUST-Master of Business and Technology
1a Admission into MNT-Master of Nanotechnology
2 BUSN9023 - Entrepreneurship and Small Business
Must Satisfy: ((1 or 1a) and 2)

1 of BUSN2006, BUSN2016, BUSN3026, COMP3200, ECON2014, ECON2015, ECON3038 has been successfully completed

Master of Business and Technology; Master of Nanotechnology

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 buisness
• 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

Students completing this topic should be able to:

• identify and explain the key components of a comprehensive and effective business plan
• research and analyse business ideas, to determine their feasibility
• identify the resources required for a new venture
• prepare detailed plans for the establishment of a new venture
• assess the risks associated with the establishment of any particular new venture
• exhibit enhanced skills in working as part of a team, in providing leadership, in both oral and written communication, and in finding creative solutions to business problems