Study Guide

Objective

The student can describe the requirements for a successful business. The student can communicate goals of a business to various interest groups of a business. The student is able to establish a marketing plan to reach customers. The student can describe a business idea.

Content

Business environment
Business planning
Business operations
Entrepreneurship
Marketing and marketing tools
Sales

Materials

Materials in Its Learning and materials retrieved by the student.

Individual exam: materials in Its Learning (provided by teacher).

Teaching methods

Exam, exploratory Learning/Inquiry Based Learning (IBL), Active Learning, Team Learning, Contact Learning

Exam schedules

Individual exam:
First chance: 18.11.2024 at 1p.m. (2 h) ;Second chance 25.11.2024 and third chance 2.12.2025

Individual portfolio or group work cannot be renewed/re-examination is not possible.

International connections

CDIO, Peer Learning

Business idea development to concept (Conceive and Develop part of the CDIO framework of Engineering Education Initiative) is done in multinational groups. Weekly discussion and co-development/knowledge sharing sessions, mainly in own group, but at times sharing/discussing with other teams during contact lessons. In interim report/sharing sessions (2 pcs), peer feedback in the form of development ideas/useful theories/etc., will be given by every student in the course to groups. Self-assessment and peer-review will also be used to analyze and develop group work.

Sustainability: one of the question amongst other important areas in business concept development phase.

Completion alternatives

Does not exist.

Student workload

Individual Exam,
Individual Portfolio consists of weekly tasks
Group work: Business idea development into a Business Plan (Includes Marketing plan) weekly tasks and a business plan that includes marketing plan
Information retrieval (individual and in group)
Presentations: 2 Interim reports (one Power Point and one video presentation) and Power Point presentation of the Business Plan.
Feedback to other groups during the interim reports presentation sessions.
Self-Assessment and Peer Review


135 h ( 5 op)
teamwork in lectures 33 h
individual inquiries and task and individual exam 55 h
additional teamwork other than lectures 22 h

Content scheduling

Customers: customer groups, needs, and customer profiles
Markets:
- Competition, existing companies and competing products/services
- market and Industry developments
Business Planning:
- Business Idea, Business Model Canvas, Business Plan
Marketing: old and new marketing, Marketing Plan

Further information

With email to the teacher monica.tamminen@turkuamk.fi. In the title, please, use the course name and code in email subject, when contacting.

In general, all the course issues will be dealt together in contact sessions. Matters of personal nature, please email a request for personal meeting.

Evaluation scale

H-5

Assessment methods and criteria

Individual exam (50%).

Individual work for group work (25%): Evidence created from the study activities (individual assignments for the group work and a portfolio composed of them), showing the required development of competence. Participation in class and to the group work. Active participation in lectures at least 50 % and 25 % of the weekly assignments/tasks needs to get accepted by the teacher, if not the student will fail the 25% of personal. If active participation and weekly returns meets the requirements, the student can choose 2 returns for evaluation and downloads them to a specific return box and get a grade.

Group work (25%): Final result of the group work is Business (including Marketing Plan), that will be graded. Joint development process with assignments. Group work requires personal activity from the student, which can be assessed using peer feedback. Every individual in the group gets the same grade. 25% or more of the weekly group returns needs to be accepted by the teacher or no-one in the group will get a grade.

Active participation in lectures needs to be at least 50 %.

Accepted/fail: weekly individual and group tasks

Exception of group work grade: If a group member does not participate nor contribute to the group work, (individual assignments are not done, done inferiorly, findings not shared, student is not present, physically or mentally in groupwork sessions during the contact lesson, nor participates to other meetings arranged by the group, does not do the tasks given by the group), the student can be kicked-off from the group. Then both group related (individual group work and group work in a team=Business Plan) grade is 0 = fail.

Individual assignments must be returned before 8:00 on contact lesson days; 9.9, 16.9, 23.9, 7.10, 21.10, 28.10, 11.11, 18.11, 25.11.

The teacher will weekly grade the individual its return and mark it as accepted or fail to the its return box. Criteria for accepted work: returned on time, to the right return box in its, task is done/completed/performed as instructed.

To pass the course, at least 25 % of individual returns needs to be accepted. If the 25 % rule is not fulfilled, the student gets 0=fail and is not entitled to the numerical grading of the individual assignment in its.

Numerical grading takes place at the end of the course. If 25 % or more of the whole/total assessment, scale of 0, 1-2, 3-4, 5 takes place at the end of the course. The student chooses 2 of her/his returned individual its assignments he/she wants the teacher to assess. Those two should be returned to a specific return box called Individual Assignment to be assessed by 2.12.2024 and before 8:00 o’clock.

Weekly group assignments must be returned by 23:58 after contact lessons; 9.9, 16.9, 23.9, 7.10, 21.10, 28.10, 11.11, 18.11, 25.11

The teacher will read each return in its and mark it as accepted or fail to its learning platform. Criteria for accepted work: returned on time, to the right its return box, task is done/completed/performed as instructed. If the group has failed 25% or more of the weekly group assignments, the weekly groupwork will be graded as zero= fail. As result of this failure, the groups final report will neither be accepted nor numerically graded. The Grade is then 0 and will affect the total grade.

Interim reporting, first report session is held 30th of September - report DL is on 30th of September by 12:00 (its); presentation by PowerPoint DL 30th of September by 12:00 (its); presentation session 30th of September is from 13:00 till 16:00 (mandatory participation). Every student must give constructive feedback during the presentation session on 30th of September. Second interim takes place 4.11.2024 - report DL is on 3rd of November by 23:58 (its); presentation video is due 4th of November by 12:00 (its); there will be no presentation session, but each course participant must watch other groups videos and give constructive feedback to every group by 7th of November 12:00 (its). One of the individual tasks (approved/failed).

Final deliverable, Business Plan (includes Marketing Plan) by 2.12.2024 - report due 1st of December by 23:58; Power Point presentation DL is 2nd of December by 8:00. The presentation session on 2nd of December takes place from 13:00 till 16:00 (mandatory participation).


Remember that the formation of the grade is especially influenced by the quality of doing and learning. Not just the length or number of outputs.

Assessment criteria, fail (0)

The student has not actively participated in classes and group work, presentations (less than 50%). The student has serious deficiencies in knowledge, performance, or results i.e. there is insufficient proof of competence. For example, there is a lack of self-directed information search, or the required literature has not been read or the required tools, methods, and theories have not been utilized in assignments or assignments are completely missing, tasks done substandard or partially or completely missing, exam rejected. COPYING of any kind is not allowed and will result in rejection of the course and possibly other sanctions.

Assessment criteria, satisfactory (1-2)

Exam: 50 % of the total grade
Individual tasks and group work: 25 % of the total grade
- Active participation in lectures at least 50 %.
- 25 % of the weekly assignments/tasks needs to get accepted by the teacher
- If active participation and weekly returns meets the requirements, the student can choose 2 returns for evaluation and downloads them to a specific return box and get a grade.
Group work: 25 % of the total grade
- 25% or more of the weekly group returns needs to be accepted by the teacher or no-one in the group will get a grade. Every individual in the group gets the same grade.


Individual work for business plan: The student uses key concepts and basic theories when explaining his findings and observations. Student can describe, classify, and list things, but do not contain students' own reflection or insights. Individual theories or practical observations are not linked to a larger whole.

The planning of the group's business idea required a lot of guidance and support. The cooperation in the group does not work or is difficult. The group could not use the given feedback. There are some inconsistencies in the business plan and the idea is not commercially viable. Course material and other sources have been used sparingly. Concepts presented in the course have been utilized in the business plan. The plan is feasible only to a small extent. Some of the assignments have been returned late or they are very concise and incomplete or there are major flaws in presentations.

Assessment criteria, good (3-4)

Exam: 50 % of the total grade
Individual tasks and group work: 25 % of the total grade
- Active participation in lectures at least 50 %.
- 25 % of the weekly assignments/tasks needs to get accepted by the teacher
- If active participation and weekly returns meets the requirements, the student can choose 2 returns for evaluation and downloads them to a specific return box and get a grade.
Group work: 25 % of the total grade
- 25% or more of the weekly group returns needs to be accepted by the teacher or no-one in the group will get a grade. Every individual in the group gets the same grade.

Individual work for business plan: The tasks have been returned in time, and they are extensive and good, theories have been utilized, and instructed methods and tools have been used.

The student understands entities and uses theories to explain them. Demonstrates the ability to apply some principle related to the subject area and is able to combine them. Makes use of the materials he has acquired in his own and group's work. Participates in the group discussions, is active in preparing the business plan and takes responsibility for the group's tasks.

The groups business idea is quite creative. The group has been able to develop the business idea independently and in the agreement with the whole group. The business plan is a clear and coherent entity. Applying the course concepts to business plan shows expertise. The plan is feasible in many aspects. The presentation is clear, understandable, and selling.

Assessment criteria, excellent (5)

Exam: 50 % of the total grade
Individual tasks and group work: 25 % of the total grade
- Active participation in lectures at least 50 %.
- 25 % of the weekly assignments/tasks needs to get accepted by the teacher
- If active participation and weekly returns meets the requirements, the student can choose 2 returns for evaluation and downloads them to a specific return box and get a grade.
Group work: 25 % of the total grade
- 25% or more of the weekly group returns needs to be accepted by the teacher or no-one in the group will get a grade. Every individual in the group gets the same grade.

There are special merits in completing tasks and they are extensive and thorough.

Individual work for business plan: The student sees critical success factors for the Industry and the company/organization, understands theories, and presents her findings with justification. The student can see development areas and is a critical thinker. Can analyze cause-and-effect relationships and handle things insightfully. High-quality background material has been searched for, found and its use is justified. The student refers professionally. The student participates in group discussions actively, proactively and responsibly, and takes the group deeper in terms of knowledge.

The group's business idea is innovative and creative. The idea has been developed inspiringly, responsibly, and in agreement with the whole group. Sources and course materials has been used in a variety of ways. The business plan and presentation, is clear, understandable, coherent, selling and creative. The plan is largely feasible.