Entrepreneurship and Innovation

Unit Outline (Higher Education)

   
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Effective Term: 2027/05
Institute / School :Institute of Innovation, Science & Sustainability
Unit Title: Entrepreneurship and Innovation
Unit ID: BUMGT1101
Credit Points: 15.00
Prerequisite(s): Nil
Co-requisite(s): Nil
Exclusion(s): (BUENT1501 and BUENT2635)
ASCED: 080301
Other Change:  
Brief description of the Unit

For quite some time, the realms of entrepreneurship and innovation have followed separate paths, each confined to its own narrow scope, which has led to certain drawbacks: entrepreneurship has fixated on the establishment of small businesses, while innovation has been predominantly concerned with the development of new products. With this in mind, this unit endeavours to reintegrate the theory and application of entrepreneurship and innovation. In doing so, it prioritizes enhancing students’ creative, strategic, and interpersonal skills, enabling them to effectively launch novel innovations within established enterprises and to create and grow entrepreneurial initiatives from scratch.

Furthermore, this unit not only fosters a comprehension of the entrepreneurial and innovative landscape, it also underscores the practical dimensions of both, such as identifying opportunities, securing resources, developing ventures, and generating value.

Grade Scheme: Graded (HD, D, C, P, MF, F, XF)
Work Experience Indicator:
No work experience
Placement Component:
Supplementary Assessment:Yes
Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment
Course Level:
Level of Unit in CourseAQF Level(s) of Course
5678910
Introductory                                                
Intermediate                                                
Advanced                                                
Learning Outcomes:
Knowledge:
Skills:
Application of knowledge and skills:
Other outcomes:
O1.

Explain key theories, forms and frameworks of entrepreneurship and innovation and their role in contemporary organisations and society.

O2.

Analyse entrepreneurial environments and opportunities, including the social, ecological and ethical implications of entrepreneurial and innovative activity.

O3.

Formulate entrepreneurial and innovation strategies for new venture creation, resource acquisition and growth.

O4.

Communicate entrepreneurial strategies and venture proposals effectively in written and oral forms, individually and collaboratively.

Unit Content:

Topics may include:

1. Entrepreneurship and innovation: theories and trends

2. Social innovation and social entrepreneurship for solving ‘wicked’ problems in a globalised world

3. Industries in transition - sustainable innovation

4. Harnessing an entrepreneurial / intrepreneurial mindset

5. New venture development: opportunity identification, evaluation and exploitation

6. Research and planning for new ventures

7. Acquiring support: sources of financial and strategic input

8. Managing growth and transition

9. Leading through complexity and harnessing adaptive capacity

10. Pitching your venture

11. The value of failure

12. Reflections on an entrepreneurial journey

Graduate Attributes:
Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FEDTASKS (Transferable Attributes Skills and Knowledge) provide a targeted focus on five key transferable Attributes, Skills, and Knowledge that are be embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and Co-operative Learning opportunities. One or more FEDTASK, transferable Attributes, Skills or Knowledge must be evident in the specified learning outcomes and assessment for each FedUni Unit, and all must be directly assessed in each Course.

FED TASK and descriptorDevelopment and acquisition of FEDTASKS in the Unit
Level
FEDTASK 1
Interpersonal

Students at this level will demonstrate an advanced ability in a range of contexts to effectively communicate, interact and work with others both individually and in groups. Students will be required to display high level skills in-person and/or online in: • Using and demonstrating a high level of verbal and non-verbal communication • Demonstrating a mastery of listening for meaning and influencing via active listening • Demonstrating and showing empathy for others • High order skills in negotiating and conflict resolution skills\\ • Demonstrating mastery of working respectfully in cross-cultural and diverse teams.

Level 2 - Student demonstrates some independence within provided guidelines
FEDTASK 2
Leadership

Students at this level will demonstrate a mastery in professional skills and behaviours in leading others. • Creating and sustaining a collegial environment • Demonstrating a high level of self -awareness and the ability to self-reflect and justify decisions • Inspiring and initiating opportunities to lead others • Making informed professional decisions • Demonstrating initiative in new professional situations.

Level 1 - Students require directions and boundaries from mentor
FEDTASK 3
Critical Thinking and Creativity

Students at this level will demonstrate high level skills in working in complexity and ambiguity using the imagination to create new ideas. Students will be required to display skills in: • Reflecting critically to generate and consider complex ideas and concepts at an abstract level • Analysing complex and abstract ideas, concepts and information • Communicate alternative perspectives to justify complex ideas • Demonstrate a mastery of challenging conventional thinking to clarify complex concepts • Forming creative solutions in problem solving to new situations for further learning.

Level 2 - Student demonstrates some independence within provided guidelines
FEDTASK 4
Digital Literacy

Students at this level will demonstrate the ability to work competently across a wide range of tools, platforms and applications to achieve a range of tasks. Students will be required to display skills in: • Mastering, exploring, evaluating, managing, curating, organising and sharing digital information professionally • Collating, managing complex data, accessing and using digital data securely • Receiving and responding professionally to messages in a range of professional digital media • Contributing competently and professionally to digital teams and working groups • Participating at a high level in digital learning opportunities.

Level 1 - Students require directions and boundaries from mentor
FEDTASK 5
sustainable and Ethical Mindset

Students at this level will demonstrate a mastery of considering and assessing the consequences and impact of ideas and actions in enacting professional ethical and sustainable decisions. Students will be required to display skills in: • Demonstrate informed judgment making that considers the impact of devising complex solutions in ambiguous global economic environmental and societal contexts • Professionally committing to the promulgation of social responsibility • Demonstrate the ability to evaluate ethical, socially responsible and/or sustainable challenges and generating and articulating responses • Communicating lifelong, life-wide and life-deep learning to be open to the diverse professional others • Generating, leading and implementing required actions to foster sustainability in their professional and personal life

Level 1 - Students require directions and boundaries from mentor
 Learning Outcomes AssessedAssessment TasksAssessment TypeWeightingProfessional Standards
1. ULO 1, ULO 2

Assessing students' understanding of the topics covered till the assignment due date

Quiz (Individual assignment)

10-30%
2. ULO 1, ULO 2, ULO 4

Critique of an entrepreneur/entrepreneurial organisation (case organisation)

Individual assignment

20-40%
3. ULO 1, ULO 2, ULO 3, ULO 4

New venture development and pitch

Group assignment (Written report and/or presentation)

40-60%
Adopted Reference Style:
APA  ()

Professional Standards / Competencies:
 Standard / Competency