New Venture Development
What does the course involve?
New ventures require innovation, a strategic plan and a potential for high growth. This course explores both the challenges of identifying sustainable competitive advantage and exploring the market potential for new venture propositions.
What topics will I study?
This course covers the following subject areas:
Processes and challenges of starting a business
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Strategy – where to start and keeping on track
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Market research
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Identifying your Sustainable Competitive Advantage (SCA)
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Recruitment
Developing persuasive business plans
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Structure – design and layout
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Financial analysis
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The marketing plan
How to approach investors
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Sources of funding
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Venture capitalists and business angels
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Exit strategies
Assessing entrepreneurial opportunities
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Getting the idea
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Intellectual property
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Personality and opportunity
Raising venture capital
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Ownership, dilution, negotiation and valuation
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Personal rewards and costs
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Source of capital – leasing, bankers, Bootstrapping
Forming the company
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A thirteen stage process – from ‘getting the idea’ to ‘raising working capital’
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Legal requirements – public liability, limited liability, accounting
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Organisational and operational requirements
The problems of management – the early years
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Controlling strategy
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Hygiene factors – tracking the environment
Contemporary factors
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Harvesting – timing and tenacity