Evaluate the skills required of an entrepreneur, including how to make money and to mitigate the risk of failure.

Knowledge & Understanding, Learning

Analyse the importance of risk management to individuals and businesses.

Application & Analysis & Reflection

Evaluate the impact of risk on financial statements, budgeting and costing techniques used by businesses.

Analysis, & Communication

Discuss the differences and similarities of funding from alternative sources of finance.

Analysis

1. Group Presentation (15 mins) 20% (LO 1)

2. Written Exam (2 hours) plus 10 mins reading time (80%) (LOs 2, 3 & 4)

Without risk, there is often no reward. In this module, you will explore the evolution and nature of financial markets and their susceptibility to shock. You will gain a solid foundation in the concepts of risk and return.



Risk is part of our daily lives and is an important consideration in business. Learning how to manage risk, when to avoid it, when to transfer, how to reduce it or even when to accept it are necessary skills. The module will teach you why it is imperative to be risk aware in business. You will learn the essential terminologies and categories of risks, together with risk management approaches and tools which you can apply to an organization.



Risk management helps identify, assess, and manage problems and is essential for the success of any business. With this course, you will get to know useful information about risk management that will serve you well in your career.



Students will look into the skillset of an entrepreneur, understanding about communication, creativity and resilience. The module will look at three main types of entrepreneurial organisations: small businesses, scalable start-ups and social enterprises. You will also understand how to make money from buyouts and how to mitigate the risk of failure.



Funding (finding money) should be the top priority in a business with areas of cost of borrowing and the cost of capital and other factors that influence the choice of the type of capital a business will raise.



Other areas to be covered include Operating budgets, Funding decisions and implications, Crowd funding crowd finance, Credit unions, Credit card funding, Business angels, Grants, Peer to peer loans and Microloans.



The module will also look at how to complete a viable business plan for a start-up or buyout business. This module is designed to give you an understanding of key issues relating to business management, development and entrepreneurism.

This module analyses the financial decisions associated with capital and you will be introduced to the forms of finance available to business, including the various forms of equity finance. In doing so you will explore the ways in which businesses are valued, emphasising high-risk, early-stage start-ups and their legal and financial structuring.

The learning strategy for the module requires students to commit 200 learning hours (including assessment) of which there will be 48 hours of tutor-led learning and 152 hours of independent and self-directed study.



Concepts, theories and principles will be explored, practiced and demonstrated. Practical skills enhanced by recommended videos and talks. Cognitive and personal skills developed in open-ended problem-solving exercises. Oral feedback is given during sessions. The assessment will examine the wider learning outcomes expressed in the descriptor



You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module.



In-class sessions play a crucial role in the learning process, where formative assessments are essential for providing ongoing feedback to both students and the teaching team. Examples of formative assessments include quizzes, class exercises, draft submissions, and peer reviews, all of which help gauge students' understanding of the course material. These assessments enable instructors to identify areas where students may need additional support and adjust teaching strategies as needed. This practical implementation ensures that even in a remote learning environment, students receive the necessary support and preparation for their summative assessments.



Feedback and feedforward on this module in the dual award program would follow the steps implemented:

Cross-Institution Moderation: Implement a moderation process where a sample of feedback from both institutions is reviewed collaboratively. This allows for adjustments to be made to ensure that the quality and tone of feedback are aligned.

Shared VLE: Use a shared Virtual Learning Environment (VLE) to submit assignments and deliver feedback. This ensures that all feedback is stored in one place, allowing both institutions to monitor and align the feedback provided.

Structured Feedforward: Both institutions would follow a consistent approach to feedforward, providing clear, actionable advice on how students can improve in future assessments. This helps students apply feedback effectively across all their modules.

Woods, M. (2021). Risk Management in Organizations: An Integrated Cased Study Approach. Abingdon: Routledge.

(release Jan 2021)

Seal, W. et al. (2019). Management Accounting. (6th Ed.). London: McGraw-Hill Education.

Pritchard, C.L. (2015). Risk Management: Concepts and Guidance. Boca Raton: CRC Press/Taylor & Francis Group.

Lam, M.S. & Vega, G. (2021). Entrepreneurial Finance: Concepts and Cases. Abingdon: Routledge.

Hulme, S. & Drew, C. (2020). Entrepreneurial Finance. London: Macmillan Education Limited.

TEDx videos will be used to give background information and aid discussions.



LinkedIn Learning will beA utilised including:

https://www.linkedin.com/learning/accounting-foundations-2/the-importance-of-accounting

https://www.linkedin.com/learning/accounting-foundations-2/the-accounting-equation

https://www.linkedin.com/learning/accounting-foundations-2/budgets-solving-problems-in-advance

The University Library and Learning Resources - books and academic journals

The module VLE

Electronic data bases

Learning support materials

Online Tools, Internet