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MGMT8028 - New Product Launch

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Title:New Product Launch
Long Title:New Product Launch
Module Code:MGMT8028
 
Duration:1 Semester
Credits: 5
NFQ Level:Advanced
Field of Study: Business & Management
Valid From: Semester 1 - 2022/23 ( September 2022 )
Module Delivered in 4 programme(s)
Module Coordinator: CAROLINE O REILLY
Module Author: Lisa Murphy
Module Description: In teams with students from different disciplines, students collaborate in developing a product prototype, develop and present a professional standard business plan to expert assessors and Government enterprise agencies. In the second half of the semester, students evaluate business strategy for new ventures.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Make costed recommendations on the issue of make or buy or outsource.
LO2 Recommend an appropriate strategy in regard to intellectual property (IP) and patenting.
LO3 Recommend appropriate sources of finance and an effective capital structure for a new venture.
LO4 Critically assess and write an optimised business plan.
LO5 Participate in a cross disciplinary pitch of the new product to an expert panel of assessors.
LO6 Perform a detailed analysis and critically evaluate a business model / business scenario.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

MGMT8026 New Product Development
 

Module Content & Assessment

Indicative Content
Cost Estimation
Calculation and decision to make, buy or outsource. Collaborate with engineering team-members on Bill of Materials, identification of supply partners.
Company formation and operation
Forming a Limited Company, Memorandum and Articles of Association, Directors, Organisation structure, Becoming an employer, VAT, Payroll, Hiring staff, tax issues.
IP and Patenting
Intellectual Property: Patents, trade marks, Copyright, Trade Secrets, non disclosure agreements, Benefits and costs of filing a patent.
Financing the New Product
Finance sources for the new venture. Projected profit and loss account, Balance Sheet, Breakeven point, DCF, Estimation of risk.
Reassessing the Business Model:
Explore alternative applications of the product, and other market segments; Marketing Strategy, Value Proposition, Target Market, Product positioning, pricing, Marketing and sales, Distribution channels. Weigh costs and benefits of outsourcing all or part of operations.
Revise and Optimise the Business Plan
Nature, purpose and contents. Integrating the operations and marketing plan with financial projections. Forensic assessment of all aspects of the proposal.
Resourcing the Venture
Assembling resources for launch of new venture. Role of informal and formal support and resources. Presenting a new business proposition and plans to a bank, VC, grant agency or prospective investor.
Further steps in Product Development
Explore possibilities for strategic partnerships, promotional tools and literature, a product website
Case Study
Using the knowledge and skills acquired in Semester 1 and Semester 2 perform a detailed analysis of a business model / case study. Identify strengths, weaknesses, opportunities and threats. Make appropriate recommendations supplying detailed supportive workings.
Assessment Breakdown%
Course Work100.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Written Report Finalise Business Plan developed for module MGMT8026. 1,2,3,4 20.0 Week 2
Presentation Presentation of business plan. 5 20.0 Week 6
Written Report Case Study. A detailed analysis of a business model and the challenges facing a company. 1,2,3,4 60.0 Sem End
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Marketing, Financing, Legal & IP issues, Outsourcing, business plan, Pitching the plan. 3.0 Every Week 3.00
Lecturer Supervised Learning (Non-contact) Collaboration with project team mates in product and business plan development. 2.0 Every Second Week 1.00
Independent & Directed Learning (Non-contact) Assessing feasibility, Cost estimation, raising finance, Exploring IP issues, outsourcing and strategic partnerships, Business case analysis. 3.0 Every Week 3.00
Total Hours 8.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Marketing, Financing, Legal & IP issues, Outsourcing, business plan, Pitching the plan. 2.0 Every Week 2.00
Lecturer Supervised Learning (Non-contact) Collaboration with project team mates in product and business plan development. 1.0 Every Second Week 0.50
Lecturer Supervised Learning (Non-contact) Assessing feasibility, Cost estimation, raising finance, Exploring IP issues, outsourcing and strategic partnerships, Business case analysis. 4.5 Every Week 4.50
Total Hours 7.50
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Richard Brealey, Stuart Myers and Franklin Allen 2017, Principles of Corporate Finance, 12th Ed., McGraw-Hill/Irwin New York [ISBN: 9781259253331]
  • Kathleen Allen 2016, Launching New Ventures, an Entrepreneurial Appoach, 7th Ed., Cengage Learning London [ISBN: 978130510250]
  • Peter Atrill and Eddie McLaney 2018, Management Accounting for Decision Makers, 9th Ed., Pearson Education Limited UK [ISBN: 9781292072432]
Supplementary Book Resources
  • Bernard O'Hara 2011, Entrepreneurship in Ireland, Gill and MacMillan [ISBN: 9780717149766]
  • William D. Bygrave and Andrew Zacharakis, 2011, Entrepreneurship, 2nd Ed., Wiley [ISBN: 9780470450376]
  • David Deakins 2012, Entrepreneurship and Small Firms, 6th Ed., McGraw Hill [ISBN: 9780077136451]
  • Henry William Chesbrough 2003, Open Innovation: The New Imperative for Creating and Profiting from Technology, Harvard Business School Press Boston, Massachusetts [ISBN: 1578518377]
  • Guy Kawasaki 2015, The Art Of The Start, Portfolio New York [ISBN: 1591840562]
  • Ron Immink and Brian OKane 2002, TenBizPlan:Dynamic Business Planning for Start-ups, Oaktree Press Cork [ISBN: 1860762441]
  • Peter F. Drucker 2015, Innovation and entrepreneurship: practice and principles, Taylor and Francis London [ISBN: 9781138019195]
  • Paul Burns 2016, Entrepreneurship and small business : start-up, growth and maturity, 4th Ed., Palgrave Macmillan New York [ISBN: 9781137430359]
  • Colm O'Gorman and James Cunningham 2007, Enterprise in Action - an introduction to entrepreneurship in an Irish context, 3rd Ed., Oak Tree Press Dublin [ISBN: 9781904887171]
  • Kathleen Allen 2009, Entrepreneurship for Scientists and Engineers, Pearson Education New Jersey [ISBN: 9780132357272]
Recommended Article/Paper Resources
  • Joachim Henkel and Markus Reitzig 2008, Patent Sharks, Harvard Business Review, Vol 86, Number 6, June 2008
Supplementary Article/Paper Resources
  • Journal International Small Business Journal
  • Journal Journal of Small Business Management
  • Journal European Small Business Journal
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_BBUSS_8 Bachelor of Business (Honours) 2 Elective
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 8 Group Elective 2
CR_BIBLA_8 Bachelor of Business (Honours) in International Business with Language 8 Elective
CR_BMRKT_8 Bachelor of Business (Honours) in Marketing 8 Elective

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