Viability of Business Projects

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Credits
6
Types
  • MIRI: Specialization complementary (Service Engineering)
  • MDS: Elective
Requirements
This subject has not requirements, but it has got previous capacities
Department
OE
Mail
University graduates can find themselves in the situation of having to analyse or take on the project of starting their own business. This is especially true in the case of computer scientists in any field related to Business Intelligence (BI) and Big Data (BD) or more generally, in the world of services. There are moments in one's professional career at which one must be able to assess or judge the suitability of business ventures undertaken or promoted by third parties, or understand the possibilities a new service has for success. It is for this reason that this subject focuses on providing students with an understanding of the main techniques used in analysing the viability of new business ventures: business start-up or the implementation of new projects in the world of services or in the specific field of BI. This project-oriented, eminently practical subject is aimed at each student's being able to draft as realistic a business plan as possible.

A joint real-world project potentially ready to be launched as a start up will be coordinated with other sibling subjects: BIP, SEAIT, SW and SOBI.

The creation of the business idea, the business model and the development of the business plan are the main outcomes of VBP, the analysis of the performance of the required technologies will be dealt with at SOBI, the management of the project will be developed at BIP, the interfaces at WS, and the ethical part of the business model will be checked at SEAIT

Teachers

Person in charge

  • Marcos Eguiguren Huerta ( )

Others

  • Oscar Romero Moral ( )

Weekly hours

Theory
1
Problems
0
Laboratory
2
Guided learning
0
Autonomous learning
5.33

Objectives

  1. Being able to analyze the external situation to determine business innovative ideas in the field of BI and BD
    Related competences:
  2. Around an innovative BI or BD project, being able to build a reasonable and ethically solid business plan
    Related competences:
  3. Building a solid and convincing speech about a business idea and a business plan
    Related competences:
  4. Training the students to build a P&L forecast and a forecasted treasury plan for a starting company
    Related competences:
  5. Understanding and being able to apply the different instruments to finance the company, both debt instruments or private equity and venture capital sources
    Related competences:
  6. Understand and appreciate the role of the entrepreneur in modern society
    Related competences:

Contents

  1. Introduction to the course and key aspects of a business idea
    Introduction to the course and key aspects of a business idea
  2. The entrepreneur's role in society, characteristics and profile
    The entrepreneur's role in society, characteristics and profile
  3. Innovation and benchmarking Axis 1) Identification of long-term market megatrends
    Innovation and benchmarking Axis 1) Identification of long-term market megatrends
  4. Innovation and benchmarking axis 2) Technological evolution as a source of ideas. Technology applied to industry.
    Innovation and benchmarking axis 2) Technological evolution as a source of ideas. Technology applied to industry. The case of Business Intelligence
  5. Axis of innovation and benchmarking 3) ethical business models as a source of innovation and ideas
    Axis of innovation and benchmarking 3) ethical business models as a source of innovation and ideas
  6. From the idea to the company. Contents of the business plan. Market research.
    From the idea to the company. Contents of the business plan. Market research.
  7. Competitive advantages. SWOT Analysis
    Competitive advantages. SWOT Analysis
  8. Marketing plan: strategic marketing, distribution and product
    Marketing plan: strategic marketing, distribution and product
  9. Marketing plan: price and promotion strategies
    Marketing plan: price and promotion strategies
  10. The human team in a small innovative company
    The human team in a small innovative company
  11. Need of resources. Building the balance sheet at the beginning of the company
    Need of resources. Building the balance sheet at the beginning of the company
  12. Building a forecasted P&L for the first two years. Cash-Flow
    Building a forecasted P&L for the first two years. Cash-Flow
  13. Revising the initial balance sheet and building the forecasted balance sheet for year one
    Revising the initial balance sheet and building the forecasted balance sheet for year one
  14. Treasury plan, Identifying long and short term financial needs
    Treasury plan, Identifying long and short term financial needs
  15. Conventional long and short term financial instruments
    Conventional long and short term financial instruments
  16. Private equity: founders, fools, friends & family, venture capital. Their limitations. Cautions to be taken and how they work.
    'Private equity': fundadores, 'fools', amigos y familia, capital riesgo. Sus limitaciones. Precauciones a tomar y cómo funcionan.
  17. Presenting the plan to possible simulated or real investors
    Presenting the plan to possible simulated or real investors

Activities

Activity Evaluation act


Introduction to the course. Key aspects of the business and the entrepreneur

Introduction to the course and key aspects of business.The entrepreneur's role in society, characteristics and profile. - Forming working teams - Reading chapters 1 and 2 "Entrepreneurship"
Objectives: 1 2
Theory
1h
Problems
0h
Laboratory
2h
Guided learning
0h
Autonomous learning
4h

Working on the different innovation axes

Working around the three axes: market trends, technological innovation and ethical standards, students will discover ways to find innovative ideas sustainable over time. - Search for possible innovative business ideas around each of the three axes - Reading the book "Empresa 3.0" at Bibliography

Theory
1h
Problems
0h
Laboratory
2h
Guided learning
0h
Autonomous learning
21h

Shaping the business idea

Working the concept of competitive advantage and SWOT analysis. Revisiting the structure of a business plan and market research. - Introducing the initial idea and needs for market analysis - Read chapters 4 and 5 book "Entrepreneurship" - Build competitive advantages and our SWOT analysis

Theory
2h
Problems
0h
Laboratory
4h
Guided learning
0h
Autonomous learning
13h

Marketing plan

Marketing plan: strategic marketing, distribution and product. Marketing plan: price and promotion strategies. - Definition of marketing strategies in the plan and the pricing and promotion policies - Read chapters 6 and 7 book "Entrepreneurship" at bibliography

Theory
4h
Problems
0h
Laboratory
8h
Guided learning
0h
Autonomous learning
10h

Human team and formal issues

Human team and formal issues - Analysis of a business case on human team efficiency and suitability - Writing the disegn for a marketing plan - Reading chapter 8 book "Entrepreneurship"

Theory
1.5h
Problems
0h
Laboratory
1.5h
Guided learning
0h
Autonomous learning
7h

Balance sheet and P&L statement

- Presenting the marketing plan and the business model, - Building initial balance sheet - Read book on "Finance for non financial managers" at bibliography and prepare balance sheets and operating accounts
Objectives: 4 5
Theory
4h
Problems
0h
Laboratory
8h
Guided learning
0h
Autonomous learning
16.9h

Revising the initial balance sheet and building the forecasted balance sheet for year 1

- Building their own forecasted balance sheet around provisional business plan figures - Building an excel file with the business plan data to feed with them the lab session - Reading the "Finance for non financial managers" book at bibliography

Theory
1h
Problems
0h
Laboratory
2h
Guided learning
0h
Autonomous learning
4.5h

Definition and theory of the treasury plan. Identifying financial short and long term needs

- To design their own treasury plan with the provisional data from their business plan - Reading chapter on venture capital in the book "Entrepreneurship" at bibliography

Theory
2h
Problems
0h
Laboratory
4h
Guided learning
0h
Autonomous learning
2.5h

Conventional financial instruments, short and long term. Private equity: founders, friends, fools & family, venture capital, their limits, cautions and operational suggestions

- Preparing the initial proposal for investors to be defended at the final presentation and defining the financial structure of their company based on the business plan data Work on writing the final presentation - Keeping on reading the "Finance for non financial managers" book mentioned at the bibliography and study for the final presentation

Theory
1.5h
Problems
0h
Laboratory
2h
Guided learning
0h
Autonomous learning
10h

Presenting the final plan to a jury formed by investors

Presenting the final plan to a jury formed by investors
Objectives: 1 2 3 4 5 6
Theory
0h
Problems
0h
Laboratory
2.5h
Guided learning
0h
Autonomous learning
7h

Teaching methodology

During the lectures, classes will be complemented, depending on the subject, with previous examples of companies that enable students to gain practical ideas for the work to be done in the project sessions.

In some cases, theory lectures will include short lectures of entrepreneurs or managers to provide real guidance on how he / she solved problems in specific topics such as the assessment of venture capital bids or in marketing BI services.

Some of the Theory sessions will be prepared and taught to the rest of the class, under the guidance of the professor, by the students themselves.

Regarding project sessions, they will focus on enabling students to build a whole marketing plan and also a financial plan including a solution for the financial structure of the company and its defense in front of possible investors.

Evaluation methodology

The assessment is based on student presentations (in teams) and the defense of the business plan in front of a jury comprising course faculty members and - optionally - another member of the teaching staff, guest professionals and real investors.

Throughout the course there will be five evaluative milestones:

- The presentation of the innovative business model,
- The presentation of the marketing plan,
- The presentation of the business plan as a whole, that will include an evaluation about ethics and sustainability of the project,
- The analysis of the financial plan and the proposal to investors.
- A lecture on a selected topic to be given by the students.

The presentation simulates a professional setting. Accordingly, the following aspects will also be assessed: dress, formal, well-structured communication, etc.

In order to be able to publicly defend the business plan, students must have attended at least 70% of the classes and teams must have delivered on time the activities that have been planned during the course. The plan is the result of teamwork, which will be reflected in the grade given to the group as a whole. Each member of the group will be responsible for part of the project and might be graded individually on his or her contribution.

This approach is designed to foster teamwork, in which members share responsibility for attaining a common objective.

Bibliography

Basic:

Previous capacities

Having some previous knowledge or experience in business administration is an additional asset