Entrepreneurship & Innovation Project 2024
Week-6: Tuesday, 27th February & Thursday, 29th February
Week-6 of the Entrepreneurship and Innovation Project course will focus on further Explaining Core Business Plan Elements for the purposes of Communicating to key stakeholders through financial statements. Students will also be introduced to the principles and processes of protecting intellectual property as a student and staff member at the University of Edinburgh.
Week 6, Lesson 6: Understanding Investment Agreements, Articles of Associations, & Term Sheets (Raising Investment Fundamentals) (Key topics moved to week-7 due to time taken up by Financial Statements Test during week-6).
Key Themes for Week-6 (and week-7):
- Product Life Cycle Analysis
- Natural Environment Considerations (Moved to Week-8)
- Understanding Routes to Market
- Business Development Thinking
- What is the Long-term Vision for the business? What are the short, medium, and long-term objectives?
- Operations Planning
- Product Life Cycle Analysis: What will be the production processes? Capacity of Production at different stages of the business? Quality control? Equipment required? Premises required? Future Business Needs?
- Markets and Competition Analysis
- What is the marketing plan? Who are the customers? How will they be reached in order to become customers? How will reach them?
- What is the competition doing? What is the competition doing in comparison to the proposed business plan?
- What is the Unique Selling Point of the New Business Compared to Competitors?
Hardware and Software Labs for Week-6:
- Tuesday Lab: Preparation for Financial Statements Test ; Protection of Intellectual Property through the University of Edinburgh.
- Thursday Lab 1: Review of Financial Statements Creation for Business Plans (preparation for test)
- Thursday Lab 2: More Geo-spatial Data Analysis; and Holographic hardware device building continued by considering batteries and charging.
Key Student Class Tasks for Week-6:
- Students Engage with in-depth Prototyping by Defining their Materials List.
- Students engage with a Market Segmentation Analysis: that draws on Teachings from Week 1 and Week 2.
- Students work on their Business Plans in-Class.
Key Readings for Week-6:
- Disciplined Entrepreneurship, Pages 121-138
- Define your Core Offering
- Chart Your Competitive Position
- Development As Freedom, Pages 227-281
- Culture and Human Rights
- Globalization: Economics, Culture and Rights
- Social Choice and Individual Behaviour
- Social Values and Public Interest
- Business Ethics, Trust and Contracts
- Environmental Regulations and Values
- Soul of a New Machine, Pages 206-253
- Going to the Fair (Chapter 13)
- The Last Crunch (Chapter 14)
- Canards (Chapter 15)
- Learning from History (Chapter 16)
- Business Case Study for the Week
- Sony Corporation