Study Guide

Objective

The student recognizes business opportunities and the basic business processes and their interconnection. The student knows and the process of establishing a business. He/she understands the main principles of profitable and responsible business.

The student is able to take responsibility of his/her own actions. He/she knows how to be an active team member and reflect his/her team members and own performance.

The student is able to perform business related tasks as a team member.

Competences: Learning to learn Competence, Ethics Competence, Operating in a workplace Competence, Proactive Development Competence, Economics and Financial Management Competence, Marketing and Sales Competence, Law and Risk Management Competence

Content

- Teamwork and rules
- Team business project
- Brainstorming/developing a business idea
- Establishing and starting a business
- Sales pitch
- Business planning tools
- Productisation and pricing
- Implementing business idea and processes
- Organizing an event
- Day to day financial management

Location and time

Spring 2023 weeks 3-20.

Materials

Study unit material is provided during the study unit implementation.

Teaching methods

Learning process is organized through the project work and problem-solving process. It includes teamwork, team tasks, team tutoring, independent studies and knowledge acquisition activities.

Employer connections

The Arctic Valley game is a business simulation.

International connections

Co-operation with the Finnish liiketalous students.

Content scheduling

A weekly plan is given in the implementation plan. Weekly business classes are being held.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Level 1
Business planning:
The student is able to recognise business opportunities and business processes and how they are connected to one another.
He/she understands main principles of profitable and responsible business.
The student is able to take responsibility for his/her actions and understands what it takes to be a productive team member.
The students is able to perform business related tasks with assistance.

Level 2
Business planning:
The student is able describe business opportunities and business processes and how they are connected to one another.
He/she is able to apply profitability-thinking in business planning calculations and is able to take into account responsibility in business planning.
The student is able to perform as productive team member.
The student is able to perform business related task with according to given instructions.

Assessment criteria, good (3)

Level 3
Business planning:
The student is able to utilize business knowledge in business planning and he/she is able to analyse business opportunities.
He/she is able to analyse business processes and is able to analyse reasons behind profitable and responsible business.
The student is able to take responsibility for his/her actions and has an active role as productive team member.
The student is able to perform business related tasks.

Level 4
Business planning:
The student is able to utilize business knowledge and to make justified choices in business planning.
He/she is able to justify made decisions based on profitability and responsibility of the business.
The student understands the meaning of each team member’s contribution to the whole team. The student is able to perform on his/her own initiative.
The student is able to perform business related tasks fluently and independently.

Assessment criteria, excellent (5)

Level 5
Business planning:
The student has adopted an entrepreneurial thinking for his/her business idea.
He/she is able to critically analyse business processes and is able to critically analyse reasons behind profitable and responsible business.
The student is able to take responsibility for the team and its actions and bring ideas to develop the team.
The student is able to perform business related task proficiently.

Assessment methods and criteria

Assessment is based on the process and actual skills and knowledge evaluation. A more detailed evaluation plan is given in the implementation plan.

Required assignments:

• Team rules (pass/fail)
• Personal activity and responsibility in a team (40%): mandatory participation in business classes. Self and peer evaluations.
• Sales pitch (10%) and active selling (10%)
• Virtual learning company’s website (pass/fail)
• Establishment process of the virtual learning company (pass/fail)
• Business model canvas (20%)
• Financing application (pass/fail)
• Pricing calculations (pass/fail)
• Financial management (performance; financial result, monitoring, analysing, evaluating) (20%)
• Mandatory participation in the Arctic Valley business visits or compensating task


Notice! All required parts need to be done and approved in order to pass the course.

Plagiarism and use of references:

Please notice that in study unit assignment returns the plagiarism detection programs (for example Turnitinl) will be used.
Also notice that you need to use Lapland UAS templates (essay, thesis, report etc) and writing instructions. Textual references must be done according to the given instructions.

Submitting assignments against given instructions may lead to failing and other possible consequences according to the Degree Regulations.

Qualifications

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