| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Entrepreneurship and New Venture Creation |
| Unit ID: | BUENT3735 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (At least 90 credit points from a Business subject-area at any level) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 089999 |
| Other Change: | |
| Brief description of the Unit |
This course aims to develop an appreciation and understanding of the role of the entrepreneur in creating value by innovation for a business and society. The elements that make up success and failure in innovation are examined. These elements relate to the role that the entrepreneur plays in coordinating the business venture (planning) and in the process of handling uncertainty that innovation entails. Students take creatively developed opportunities and subject them to strict technical and commercial feasibility tests to uncover any possible fatal flaws. Entrepreneurs in various forms of business situations will be examined, including gaining finance, obtaining public sector support or private sector advice. How entrepreneurs innovate and then make the appropriate investment decisions are the crucial issues in commercialising innovation. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: No |
| 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 | | |  | | | |
|
| Learning Outcomes: |
| Knowledge: |
| K1. | Identify and interpret the role and contexts on which entrepreneurs act ethically in society |
|
| K2. | Define entrepreneurial goals and evaluate the boundaries of entrepreneurial action |
|
| K3. | Assess the critical dimensions of entrepreneurship, evaluating why entrepreneurs start new ventures |
|
| K4. | Define the critical factors in assessing the basis of an innovation becoming a successful enterprise |
|
| K5. | Critically evaluate the process of producing a professional entrepreneurial evaluation report |
|
| Skills: |
| S1. | Communicate the entrepreneurial aspects with reference to commercial enterprises, social enterprises, not-for profit organisations, government or individuals |
|
| S2. | Determine the elements of business assessment in an entrepreneurial context applying frameworks for evaluating business potential |
|
| S3. | Apply entrepreneurial theories to business contexts for the evaluation of new ventures |
|
| S4. | Examine and explain the critical framework for analysing a new venture |
|
| S5. | Interpret the process of entrepreneurial business evaluation through reflective practice |
|
| Application of knowledge and skills: |
| A1. | Investigate and present results from an entrepreneurial context |
|
| A2. | Use initiative and judgment in evaluating entrepreneurial planning frameworks individually or collaboratively, applying academic report writing skills to articulate results |
|
| A3. | Critically examine the evaluation process in an entrepreneurial context |
|
| Unit Content: |
The course will consist of the following broad topics: - Evaluating entrepreneurial ideas
- The entrepreneurial process
- Recognising and assessing the financial requirements of new ventures
- Intellectual property protection
- Evaluating an entrepreneurial business plan
- The entrepreneur, the team and the organisation
- Going beyond business start up
|
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, K4, S1, A1 | Short written paper on workshop case studies and oral presentation | Assignment and presentation | 20-40% | | 2. | K1, K2, K3, K4, S1 | Individual assessment on related readings and workshop activities | Test | 10-20% | | 3. | K2, K3, K4, K5, S2, S3, S4, S5, A2, A3 | Evaluation of a business plan and reflection on the process | Report and Critical Commentary | 40-70% |
|