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2012/13 Undergraduate Module Catalogue

LUBS1885 Business Practice

10 creditsClass Size: 150

Module manager: Dr Vassiliki Bamiatzi

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2012/13

This module is mutually exclusive with

LUBS1015Enterprise in Action
LUBS1120Enterprise and Entrepreneurship

This module is not approved as an Elective


On completion of this module, students should be able to:
- recognise & apply basic general management skills in the areas of planning, organising, directing & controlling;
- demonstrate familiarity with & application of standard management practices, eg committee meeting procedure, action-planning, evaluation & appraisal systems;
- employ functional concepts & operations in activities such as marketing, finance, personnel, etc.


This is practical experience in setting-up, running & liquidating a business. It is supported by academic staff, and a multi-award winning business simulation software, "SimVenture", allowing students to delve into the issues of planning, financing, managing & operating their own virtual company.

Students in groups use the business simulation game to establish a Virtual Company, and learn about business and being an entrepreneur. SimVenture is a business game driven by decisions made by the users. Therefore, students make decisions about all aspects of their business, while they monitor the impacts of each decision, evaluate their progress and change their strategies and consequent actions.

Each Company meets as it deems appropriate to monitor and evaluate their progress and decide on future strategies and actions. Timeslots will be provided for each group to practice on the business simulation.

There are also meetings with the Module Leader, an academic member of staff, approximately every second week. In every meeting, specific topics are analysed and explained (with respect to organization, marketing, finance, competition etc.). Additionally, Companies present their progress, their strategy, problems that they might encounter.

At the end of each semester, Companies will formally present their Progress Reports before their peers.

At the end of the module, each Company will have to deliver an Overall Company report.

Finally, each student should deliver a report regarding their experience of running a virtual company.

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours84.00
Total Contact hours16.00
Total hours (100hr per 10 credits)100.00

Private study

- 15 hours Company Meetings
- 50 hours Company activities
- 10 hours Preparing assessed coursework
- 4 hours Preparing presentations
- 10 hours Support Reading.

Opportunities for Formative Feedback

Progress is monitored through both the formal presentations & progress reports at most Workshop meetings.

Methods of assessment

Assessment typeNotes% of formal assessment
ReportEach company of approximately 5 students submits a peer assessed 3,500 word Company Report40.00
ReportEach student submits a Final Report around 2,000 words60.00
Total percentage (Assessment Coursework)100.00

Resit by 2 hour written examination.

Reading list

The reading list is available from the Library website

Last updated: 22/04/2013


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