| CODE | EMA3200 | |||||||||||||||
| TITLE | JA-YE Start Up – Entrepreneur 2 | |||||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | |||||||||||||||
| MQF LEVEL | Not Applicable | |||||||||||||||
| ECTS CREDITS | 4 | |||||||||||||||
| DEPARTMENT | Faculty of Economics, Management and Accountancy | |||||||||||||||
| DESCRIPTION | The JA-YE Start Up: Entrepreneur 2 organised by Junior Achievement (Young Enterprise) Malta Foundation aims to encourage students to analyse the market research conducted in study unit EMA3100 and set forward plans to set up their own business or social enterprise. This study-unit provides students with the tools and hands-on experience of how a business functions and operates. It leads students in writing an Investment Proposal for their business concept. Students learn how to assimilate the results which emerge from research carried out in The JA-YE Start Up: Entrepreneur 1 and come up with viable business proposals in which they learn how to deal with the element of risk in business. The JA-YE Start Up: Entrepreneur 2 provides students with the opportunity to participate in an Exhibition where they can showcase their idea and gauge customer experience with their mini-enterprise. Apart from attending the sessions organised for this study unit, participating students are expected to meet up with their team members in a structured and organised manner. Guidelines on this are given. All teams are expected to produce a prototype for the exhibition and business plan competition where they ultimately pitch their Business proposal to a panel of judges. The overall winner will be invited to attend the European Enterprise Challenge Competition organised by the European organisation. Since its launch, Start Up students around the world have achieved hands-on experiences that develop new skills such as teamwork, leadership, presenting, planning, and financial control as they learn to take responsibility for the success of their company. It is the perfect stepping stone for a start-up business. The programme is supported by volunteer advisors from the business world who are on hand to guide and mentor the companies. This study-unit gives students the opportunity to experience running their own company, giving them an insight into how their talents could be used to set up in business for themselves. Through this study-unit, students gain real experience of the world of business. They learn how to deal with suppliers and seek out the best options available to get their product to the market. They experience skills of flexibility and change by testing out their prototype with the market. They also experience risk in many forms whether this is project management, managing human resources, uncertainty, changes in the market, risks regarding supply of raw materials, risk regarding dependence on one supplier – such risks are just a few that a normal business would encounter and which students would be exposed to. These skills are very valuable for personal success and employability; students develop these competencies together with the ability of knowing how a business truly functions. They gain first hand an insight into self-employment, business creation, risk taking and coping with adversity, all through the support of a number of volunteer business consultants. Students learn to: • Work together to create their Investment Proposal • Develop their own product or service or prototype • Market and promote their product or service • Interact with the general public through the exhibition • Compete with other teams in national and European competitions Students gain enterprising skills, attitudes and behaviours including: - Creative thinking and problem solving; - Communication and presentation skills; - Confidence and a can-do attitude; - Teamwork and leadership; - Negotiation and decision making; - Setting goals and time management; - Managing risk and responding to change; - Have the opportunity to set up for real their business. Study-unit Aims: In general the programme conveys a balance of technical and soft skills necessary to equip a person willing to set up a business. Goals of programme: • Encourage start-up businesses; • Share lessons learnt and best practice relevant to running a business; • Obtain hands on experience in market research; • Interact with key stakeholders, including prospective customers & investors; • Working together to achieve a common goal; • Gain a can-do attitude; • Be able to give a presentation. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: • Gain an understanding of the governance of a company, and experience the mechanics of an enterprise; • Understand the necessity of planning for a business; • Write and complete a business plan inclusive of financial statements; • Consolidate plans, research, and outcomes in a structured manner; • Analyse what works best for the company, the customer and prospective investors; • Be Flexible in approach and change what is necessary as a result of the demands of the market / customer; • Understand and be able to cope with the different forms of risk– be it strategic, operational & / or business environment; • Understand the importance of good presentations and preparing for the presentation by being well groomed and having a convincing sales pitch; • Give a presentation of the company and product/service; • Understand the importance of effective communication within the team meetings; • Learn about first impressions; • Understand what customer experience is all about; • Learn how to network and gain the confidence in approaching customers in a confident manner; • Set up a Stand and exhibit their prototype; • Learn how to deal with customers whilst gauging their response; • Present their proposal to a panel of prospective investors, pitch their proposal and give solid arguments about their chosen business. 2. Skills: • Negotiation Skills & Positive arguments • Taking Calculated Risks • Interviewing skills • Self confidence Skills common for The JA-YE Start Up: Entrepreneur 1 & The JA-YE Start Up: Entrepreneur 2: • Teamwork and Communication • Leadership • Coordination within a team • Dealing with Uncertainty • Quality Control • Defining and pronouncing their project • Table and Graph Interpretation • Decision Making and Problem Solving • Responding to Change • Research and Data Analysis • Creativity and Critical Thinking • Applying Information • Strategy • Report writing • Presentation Skills. Main Text/s: • Birley, S., &Muzyka, D. (Eds.) (2000). Mastering entrepreneurship. NY: FT Prentice Hall. • Goodman, M. and Dingli, S. (2013) Creativity and Strategic Innovation Management, Routledge. Supplementary readings: • Barringer, B. R., & Ireland, R. D. (2006). Entrepreneurship: Successfully launching new ventures. NY: Pearson Prentice Hall. • Burns, P. (2007). Entrepreneurship and small business. NY: Palgrave Macmillan. • Carter, S. & Jones-Evans, D. (2000) (Eds.) Enterprise and small business: Principles, practice and policy. London: FT Prentice Hall. • de Bono, E. (1993). Serious Creativity: Using the Power of Lateral Thinking to Create New Ideas. Des Moines: APTT. • Isaksen, S.G., Dorval, K. B, and Treffinger, D. J. (2011). Creative Approaches to Problem Solving. A Framework for Innovation and Change (3rd ed.). Thousand Oaks, CA: SAGE. • Kirby, D. A. (2003). Entrepreneurship. Berkshire: McGraw-Hill Education. • Tidd, J., Bessant, J. & Pavitt, K. (2007). Innovation and Entrepreneurship. Wiley. London. • Wickham, P. A. (2006). Strategic entrepreneurship. London, FT Prentice Hall. |
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| ADDITIONAL NOTES | Pre-requisite Study-unit: EMA3100 | |||||||||||||||
| STUDY-UNIT TYPE | Lecture and Seminar | |||||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Elizabeth Pulo Antonietta Rosiello |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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