This unit equips students with the ability to recognise the link between new technical knowledge and/or market knowledge and the potential to transform to a commercial enterprise. Applying constant innovative and creativity theories, models and practices. To establish a small-scale student orientated project which will form an integral resource for this unit.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Identify and differentiate genuine business opportunities from 'good' ideas;
2. Critically apply a PESTEL analysis to examine environments the businesses operate within;
3. Create a unique service, knowledge, produce or process and demonstrate the skills needed to manage the start-up, survival and growth phases of a new venture;
4. Explore and analyse the important elements in formulating and evaluating a business, and marketing plans, a financing strategy and social media strategy;
5. Analyse the driving forces behind creating and building value in a new venture; and
6. Investigate and apply for funding and source information and assistance that may be able to help with the development of your business opportunity.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - take pride in their professional and personal integrity
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - evaluate and adopt new technology
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

None.

Corequisites

None.

Assumed knowledge

None.