17 August 2019
Business & Entrepreneurship Summer Programme
This exciting two-week programme combines core sessions from business school academics with hands-on sessions from business practitioners and successful entrepreneurs. The programme is for current undergraduates, recent graduates, and all new and aspiring entrepreneurs. A basic understanding of business is required.
Contact hours: up to 51 hours
After an introduction to the concept of entrepreneurship, teams of participants will be invited to generate and select simple business ideas. The ideas that are selected will be used to underpin the core sessions, illustrating how aspects of business and entrepreneurship covered during the programme can be applied in real life.
In addition to these sessions, the programme also provides a set of mentoring and coaching sessions where specific issues can be addressed in more detail.
Sessions will introduce participants to a wide range of key issues and common themes in business and entrepreneurship. All students attend these sessions. Proposed topics include, but are not limited to, the following subjects:
Some elements of business success can be assigned to the way any product is designed and delivered to the customer. We review basic product design principles and how they can be used to differentiate a product from its competition.
Prototyping and MVP
Any idea can often be best represented through the creation of a prototype or the development of a Minimum Viable Product (MVP). We cover the fundamentals of creating prototypes and MVPs effectively, to test out a proposition’s strength and viability.
The definition and delivery of services (not products), demands a different set of business skills and techniques. We focus on the design and delivery of services that can deliver high quality competition.
We address the ‘marketing mix’ - the combination of identifying what people or businesses want, developing the product to meet that need, then pricing and promoting it.
Value propositions explain how a product or service solves customers’ problems or improves their situation, delivers specific benefits and tells the ideal customer why they should buy from one supplier instead of another. We see how great propositions are created and communicated.
Defining the customer
A customer profile can help to define their needs clearly, through their buying patterns and their motivations for buying. This session focuses on segmenting customers, to enable targeted marketing activities to be developed to fit them.
Route to market
A route to market is how a company sells its product and how it plans its sales. This session introduces a range of different routes to market which will include direct selling, selling wholesale, distance selling, online selling and developing a combination of channels.
Business Model Canvas
We consider the Business Model Canvas - a strategic management and lean start-up template for developing new, or documenting existing, business models. This visual chart describes infrastructure, value proposition, customers, and finances.
Revenue streams can be generated in many different ways. We review a range of options and how they may be used together. These include the customer paying to own a product, paying a user fee for a service, paying for use for a fixed period of time, paying for brokerage, charging for advertising and providing volume discounts.
Team building is both an art and a science, and the ability to build and manage high-performing teams is a core business competence. We review effective team-building: what combinations of character types work well together to develop, implement and support customer solutions.
What investors want to see
For any potential investor, the management team will be a major area of risk. This session covers the primary elements that investors look for in a business and will cover concepts such as level of consensus, diversity of experience, customer and market knowledge and overall adaptability.
Culture and dynamics
We consider why individuals do what they do - their beliefs and motivators and attitudes - and how an organisation can use those values to drive the development of policies, processes and procedures, and consequently generate value and competence.
Types of funding
This session reviews the different ways in which a business can be funded, including using your own money, taking funds from family and friends, grants and philanthropy, crowdfunding, angel investment, venture capital, and bank and alternative lending.
Risk reward return
Understanding risk is crucial. Low levels of uncertainty are associated with low potential returns and high levels of uncertainty are associated with high potential returns. This session looks at how we address and evaluate potential risks and associated rewards.
Simple cash flow
This session covers the creation of a simple cash flow forecast showing which items need to be included, where data comes from and what insights and information can be derived from the forecast.
Manufacturing and logistics
This session addresses two key businesses processes, and how they interact: manufacturing - converting raw materials or parts into finished goods to meet customer specifications - and logistics - making sure raw materials are available at the right time, inventory management, warehousing, distribution, transport, and customer service.
Wholesale and retail
This session covers the various wholesale and retail routes that a product or service can take on its way to the customer and how they interact.
Businesses use technology in a wide variety of ways. We review the main technologies vital to most companies, including email, Customer Relationship Management (CRM), content management, marketing management, accounting systems, inventory management, project management and many others.
Taxes, boards, policies
This session reviews a company’s responsibilities towards reporting financial information and paying taxes, managing accountability through boards and internal reporting, and the policies that cover the way that employees are managed and treated.
Shares and shareholders
Anyone who owns shares in a limited company is called a 'shareholder' or 'member'. They normally receive a percentage of trading profits that correlates with their percentage of ownership. We cover the principles of creating, allocating and managing shares, and the roles and responsibilities of shareholders.
Intellectual property (IP)
Intellectual property refers to creations of the mind: inventions; literary and artistic works; and symbols, names and images used in commerce. We review both categories, covering patents for inventions; trademarks; industrial designs and geographical indications; and Copyright for literary works, films, music, artistic works and architectural design.
Afternoons rotate between teamwork (on the selected entrepreneurial ideas, and application to those ideas of the processes and theories covered in core sessions), mentoring and pitch development. The programme culminates in entrepreneurship clinics and presentations to panels.
Working successfully in teams is a key skill: teams of participants will be invited to generate and select business ideas. Meeting daily, teams will use these ideas to underpin core sessions. Teams work towards a pitch to a panel of entrepreneurs on the final day of the programme.
Small-group mentoring and coaching sessions early in the programme help teams to consolidate their plans.
Eminent speakers will present a variety of general interest talks. These are shared with students on our other programmes.
Andrew Hatcher: Managing Director, The Applied Knowledge Network Limited: Senior Faculty in Management Practice, Judge Business School University of Cambridge
The programme is aimed at current undergraduates, recent graduates, and all aspiring entrepreneurs.
GBP 0: See official website