| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Entrepreneurial Business Planning |
| Unit ID: | BUENT3733 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (BUENT3735) (BUMGT2614) (BUACC1508) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080399 |
| Other Change: | |
| Brief description of the Unit |
This course combines the entrepreneurship-based skills and managing innovation techniques to the next level, by developing an innovation-based business plan to set out the technical and commercial feasibility of an innovation. Establishing new ventures that are innovative within existing or new organisations is the aim of this course. It is a balanced combination of theory and practical experience. The course is constructed around the identification of a possible new venture that has significant elements of innovation. The focus is on some unique innovation developed by creative problem-solving processes. This innovation can be technical, strategic or service delivery in a business or in some social or public sector organization. The innovation needs to be first critically evaluated both technically and financially to ascertain its feasibility based on the available resources. This is followed by the development and presentation of an entrepreneurial business plan (EBP) for this new venture. |
| 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 Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | | | | | | | Advanced | | |  | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Define the theories and practice of innovation and enterprise which assists the creation of new ventures |
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| K2. | Evaluate the need for (and balance between) vision, innovation and analysis in establishing entrepreneurial businesses |
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| K3. | Distinguish the key aspects of intellectual property, assets and commercialisation strategies for the purpose of entrepreneurial ventures |
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| K4. | Appraise the resources and financial aspects of new ventures, evaluating feasibility in fulfilling organisational requirements |
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| K5. | Evaluate the role of suppliers competitors and financiers |
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| Skills: |
| S1. | Analyse elements of entrepreneurship and identify new venture opportunities |
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| S2. | Generate and evaluate entrepreneurial strategies for facilitating entrepreneurial action and the exploitation of opportunities |
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| S3. | Recognise and interpret the methods and value of financial appraisal and project management in developing a commercially credible business |
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| S4. | Transfer the action planning on new ventures solution to others through written and/or oral communication |
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| Application of knowledge and skills: |
| A1. | Demonstrate judgment in applying an entrepreneurial perspective to investigate new business opportunities |
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| A2. | Combine entrepreneurial knowledge and skills which can be translated directly into a realistic business proposal |
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| A3. | Confidently articulate outcomes in written and oral form, translating skills achieved in developing an entrepreneurial business proposal into a viable enterprise |
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| A4. | Setting up an entrepreneurial team and management structure to implement both technical and business plans |
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| Unit Content: |
•Industry and the competitive environment
•Technical and financial feasibility processes
•Marketing strategies for the venture
•Financial planning of the new venture
•Capturing value: Intellectual property, complementary assets, external linkages and raining finance
•Organising for innovation: managing the internal process, building capability, developing effective marketing, and applying (where appropriate) business excellence framework or balance scorecard
•Business plans needed to encompass all the above elements. |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1 S1 A1 | New venture proposal presented to class on technical feasibility | Oral Presentation | 10-20% | | 2. | K1,K2,K3 S1,S2,S3 A1,A3 | Oral presentation of the market feasibility of the project, based on the draft marketing plan. | Oral Report | 10-30% | | 3. | K1,K2,K3,K4,K5 S1,S2,S3,S4 A1,A2,A3 | Written investigation, analysis, research, and action planning on new venture and presentation pitching the written business plan for funding. | Business Plan and Oral Briefing | 50-80% |
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