| Effective Term: | 2024/20 |
| 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: 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. | Develop an understanding of the theoretical and practical underpinnings of entrepreneurship and innovation. |
|
| K2. | Recognise the different forms of entrepreneurship, including private, social, civic and intrapreneurship. |
|
| K3. | Explain the context, principles and conceptual frameworks used in developing new innovations and launching successful entrepreneurial activities. |
|
| K4. | Appraise the impact of entrepreneurship and innovation in society. |
|
| K5. | Explain the social and ecological impacts of entrepreneurial change, including the potential of social entrepreneurship and innovation for solving complex social and environmental problems. |
|
| Skills: |
| S1. | Analyse the role of entrepreneurship and innovation across the spectrum of organisational environments. |
|
| S2. | Assess the sequences of innovation for new venture creation in a diverse range of contexts. |
|
| S3. | Synthesise entrepreneurial and innovative strategies for facilitating entrepreneurial actions and opportunities. |
|
| S4. | Propose in written and/or oral form entrepreneurial business strategies. |
|
| Application of knowledge and skills: |
| A1. | Investigate, analyse and articulate the results of environmental analysis from an entrepreneurial context. |
|
| A2. | Demonstrate critical thinking and judgement individually or collaboratively in applying business scenarios from an entrepreneurial perspective. |
|
| 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 descriptor | Development and acquisition of FEDTASKS in the Unit | | Level | FEDTASK 1
Interpersonal | Students will demonstrate the ability to effectively communicate, inter-act and work with others both individually and in groups. Students will be required to display skills in-person and/or online in: • Using effective verbal and non-verbal communication • Listening for meaning and influencing via active listening • Showing empathy for others • Negotiating and demonstrating conflict resolution skills • Working respectfully in cross-cultural and diverse teams. | Level 2 - Student demonstrates some independence within provided guidelines | FEDTASK 2
Leadership | Students will demonstrate the ability to apply professional skills and behaviours in leading others. Students will be required to display skills in: • Creating a collegial environment • Showing self -awareness and the ability to self-reflect • Inspiring and convincing others • Making informed decisions • Displaying initiative | Level 1 - Students require directions and boundaries from mentor | FEDTASK 3
Critical Thinking and Creativity | Students will demonstrate an ability to work in complexity and ambiguity using the imagination to create new ideas. Students will be required to display skills in: • Reflecting critically • Evaluating ideas, concepts and information • Considering alternative perspectives to refine ideas • Challenging conventional thinking to clarify concepts • Forming creative solutions in problem solving. | Level 2 - Student demonstrates some independence within provided guidelines | FEDTASK 4
Digital Literacy | Students will demonstrate the ability to work fluently across a range of tools, platforms and applications to achieve a range of tasks. Students will be required to display skills in: • Finding, evaluating, managing, curating, organising and sharing digital information • Collating, managing, accessing and using digital data securely • Receiving and responding to messages in a range of digital media • Contributing actively to digital teams and working groups • Participating in and benefiting from digital learning opportunities. | Level 1 - Students require directions and boundaries from mentor | FEDTASK 5
Sustainable and Ethical Mindset | Students will demonstrate the ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions. Students will be required to display skills in: • Making informed judgments that consider the impact of devising solutions in global economic environmental and societal contexts • Committing to social responsibility as a professional and a citizen • Evaluating ethical, socially responsible and/or sustainable challenges and generating and articulating responses • Embracing lifelong, life-wide and life-deep learning to be open to diverse others • Implementing required actions to foster sustainability in their professional and personal life. | Level 1 - Students require directions and boundaries from mentor |
|
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, K4, K5 | Assessing students' understanding of the topics covered till the assignment due date | Quiz (Individual assignment) | 10-30% | | 2. | K1, K2, K4, K5, S1, S2, S4, A2 | Critique of an entrepreneur/entrepreneurial organisation (case organisation) | Individual assignment | 20-40% | | 3. | K3, K5, S1, S2, S3, A1, A2 | New venture development and pitch | Group assignment (Written report and/or presentation) | 40-60% |
|