ECTS credits ECTS credits: 3
ECTS Hours Rules/Memories Student's work ECTS: 51 Hours of tutorials: 3 Expository Class: 9 Interactive Classroom: 12 Total: 75
Use languages Spanish, Galician
Type: Ordinary subject Master’s Degree RD 1393/2007 - 822/2021
Center Higher Technical Engineering School
Call: Second Semester
Teaching: Sin Docencia (En Extinción)
Enrolment: No Matriculable (Sólo Planes en Extinción)
ThThe main aim of the subject is to get the students in touch with some fundamental concepts related with the technical, commercial and, especially, economic-financial assessment of business creation projects. In particular, at completion of the course program the student will be able to carry out the analysis and assessment of any investment project, with a special focus in the determination of the profitability of the project and the analysis of its financial risk. After reviewing the traditional methods of investment projects analysis and selection the subject makes an introduction to the study of the financial assessment of real options, since traditional methods, that are ideal when evaluating investment decisions that cannot be delayed (now or never), undervalue the project if this possesses some operative flexibility (can be done now, or later, or not be done at all) or opportunities of contingent growth, something usual in the field of the biotechnology projects.
UNIT 1. GENERAL CONCEPTS.
1.1. The company and the employer.
1.2. Entrepreneurship: conditioning factors.
1.3. Forms of company.
1.4. Basic concepts of business management.
1.5. The business plan.
UNIT 2. TECHNICAL FEASIBILITY.
2.1. Aims of the technical feasibility analysis.
2.2. Legal feasibility.
2.3. Social and environmental feasibility.
2.4. Formalities derived of the constitution and set up.
2.5. Technical analysis.
2.6. Organizational aspects.
UNIT 3. COMMERCIAL FEASIBILITY.
3.1. Aims of the commercial feasibility analysis.
3.2. Market research.
3.3. Marketing plan.
3.4. SWOT analysis.
UNIT 4. ECONOMIC-FINANCIAL FEASIBILITY.
4.1. Aims of the study of the economic-financial feasibility.
4.2. Determination of costs, investments and working capital requirement.
4.3. Capital structure. Sources of funds.
4.4. Budgeted financial statements.
4.5. Determination of the cash flows.
4.6. Criteria for the economic assessment of investment projects.
4.7. Consideration of risk in the analysis of project feasibility.
4.8. Real options in investment projects.
Basic bibliography:
Amaru, A.C. (2008): Administración para emprendedores. Fundamentos para la creación y gestión de nuevos negocios. Pearson.
Castro Abancens, I. (2010): Creación de empresas para emprendedores: guía para la elaboración de un plan de negocio. Pirámide.
Complementary bibliography:
Allen, M. (2001): El emprendedor visionario. Empresa Activa.
Amram, M.; Kulatilaka, N. (1999): Real Options: Managing Strategic Investment in an Uncertain World, Harvard Business School Press, Boston, MA.
Benninga, S. (2008): Financial Modeling, The MIT Press.
Dueñas, M. y otros (2004): Creación de empresas: teoría y práctica. McGraw-Hill.
Gómez Gras, J.M. y otros (2012): Manual de casos sobre creación de empresas en España. McGraw- Hill.
González Domínguez, F.J. (2003): Creación de Empresas. Guía para el desarrollo de iniciativas empresariales. Pirámide.
Hernández Hernández, A.; Hernández Villalobos, A. (2001): Formulación y Evaluación de Proyectos de Inversión, Thomson Learning, 2001.
Mascareñas, J. (2005): “La valoración de un proyecto biotecnológico como una opción real compuesta”, Monografías de Juan Mascareñas sobre Finanzas Corporativas.
Mascareñas, J. (2007): “Opciones reales en la valoración de proyectos de inversión”. Monografías de Juan Mascareñas sobre Finanzas Corporativas.
Mascareñas, J. y otros (2004): Opciones reales y valoración de activos. Prentice Hall.
Mateo Dueñas, R. y Sagarra Porta, R. (2004): Creación de Empresas. Teoría y Práctica. McGraw-Hill.
Medina Hernández, U. y Correa Rodríguez, A. (2008): Cómo evaluar un proyecto empresarial. Díaz de Santos.
Mun, Johnathan (2002): “Real Options, Tools and Techniques”, Wiley, New jersey.
Muñiz, L. (2010): Planes de negocio y estudios de viabilidad. Bresca.
Nueno, Iniesta, P. (2009): Emprendiendo hacia el 2020. Deusto.
Priede, T. y otros (2010): Creación y desarrollo de empresas. Pirámide.
Rodríguez Sandiás, A. (2013): Modelos de Análisis y Valoración de Proyectos, Ed. Andavira.
Sapag Chain, N. (1993): Criterios de Evaluación de Proyectos, McGraw-Hill.
Sapag Chain, N.; Sapag Chain, R. (1995): Preparación y Evaluación de Proyectos, McGraw-Hill.
Sengupta, C. (2004): Financial Modeling. John Wiley & Sons.
Soler, C.; Reig, E. (2010): Pequeñas empresas, grandes ideas. Pearson.
Velasco, F. (2007): Aprender a elaborar un plan de negocio. Ediciones Paidós Ibérica
The subject contribute to reach the following competences collected in the memory of the Master’s Degree:
- General and basic skills: CG3, CG10 and, with greater intensity, CG11 and CG15.
- Specific skills: CE9.
- Transferable skills: CT2 and CT4
The methodology of the equivalent course (particularly the part related to entrepreneurship) in the new curriculum, which offers face-to-face teaching, will be followed:
P4142106 - Entrepreneurship and business management
The assessment system of the equivalent course (particularly the part related to entrepreneurship) in the new curriculum, which offers face-to-face teaching, will be followed:
P4142106 - Entrepreneurship and business management
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Juan Ramon Piñeiro Chousa
- Department
- Financial Economics and Accounting
- Area
- Financial Economics and Accounting
- j.pineiro [at] usc.es
- Category
- Professor: University Lecturer
Noelia Maria Romero Castro
- Department
- Financial Economics and Accounting
- Area
- Financial Economics and Accounting
- Phone
- 982824478
- noe.romero [at] usc.es
- Category
- Professor: Temporary PhD professor