Modul-Code BM / RM / TM / EM 330
Modul-Titel New Business Development
Level Level 3
Credits 10
Sprache English
Grundlagen All level 2 core and pathway modules
komplementäre
Module
All other Level 3 core modules
Hintergrund Increasingly innovation and new business development, in the form of new products or the improvement of existing ones, is the key for organisations looking to deliver sustainable competitive advantage in dynamic markets. The sophistication of consumers is growing as is the plethora of products and services offered in innumerable markets. However, simply creating an increasing range of products for the ever increasing appetite of consumers will not, in itself, sustain an organisation over the longer term. Successful organisations nowadays seek to distinguish themselves from their competitors by developing and offering something to consumers that is significantly different. And often, with distinction, comes a premium price-tag, thereby delivering greater profitability and contributing to organisational longevity.
Whether new business development takes the form of setting up a new company (entrepreneurship) or, within an existing company, introducing new products or innovating existing ones (intrapreneurship), understanding the processes involved and prerequisites for successful, sustainable innovation is vital for students of business. The module relates the theoretical/analytical basis of the management of the inno-vation process (from idea generation to launch) with its practical application in business via the writing of a business plan for a new/improved product or a new business venture thought up by the students. This is a desirable and relevant experience even if students do not go into business on their own.
The business plan project develops skills and reflective learning experiences through an activity managed by students with the module tutor largely acting in an advisory and support role. The ownership, motivation and management of this complex process develop the skills and competencies that employers are increasingly looking for in graduate employees. As the role of the entre/intrapreneur is essentially holistic, the process of developing a business plan draws heavily on knowledge and understanding in other modules, particularly those concerned with strategy, marketing and finance.
Within the generic framework of the module, the new product/business idea elaborated in the business plan will relate to students’ pathway sector.
Modulziele This module aims to:
1) show the importance of new product and business development for competitive success;
2) generate awareness of the challenges and opportunities posed by new business development;
3) sensitise students for the importance of the inter-relationship between marketing, finance, personnel and other
    business functions for new business development success;
4) develop students’ understanding of theory-based practical approach to the development of new products;
5) develop students’ ability to identify, research, structure and promote a business opportunity.