Overview
Entrepreneurship, Innovation and New Ventures encourages exploration of the entrepreneurial function and the development of new business activity. Initiating, developing, and operating a new business involves considerable risk and effort, as new ventures depend on creativity and innovation to proliferate at local, national and global levels. The different applications of entrepreneurship in the unit stress the critical involvement of personal capability and resilience to convert opportunities into commercial reality. The unit focuses on small to medium enterprise (SME) where opportunity recognition, feasibility, and risk management comprise key elements of the entrepreneurial function. The unit also offers a formative basis for future entrepreneurial endeavours across a range of contexts. If you have successfully completed the unit MRKT19034 you should not enrol in this unit.
Details
Pre-requisites or Co-requisites
Prerequisite: 96 credit points
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 3 - 2017
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Student evaluation
Assessment 3: Reflective assessment was not interesting.
Assessment 3 could be changed to a more challenging assessment.
Feedback from Student evaluation
Struggled to find a lot of the specific information requested online, or in books.
Provide specific website addresses from where students can find relevant information.
Feedback from Student evaluation
The assessment tasks were interesting and well-written to the course.
Keep providing clearer guidelines and requirements for the assessments tasks.
- demonstrate understanding of the entrepreneurial function to a new venture
- explain the nature and relevance of creativity, innovation, and enterprise to a new venture
- critically review principles of risk management amongst entrepreneurs
- examine the relevance of personal involvement, capability, and resilience amongst entrepreneurs
- apply techniques associated with feasibility analysis, risk management, business planning, financing a new venture
- evaluate the business plan or proposal for a new venture.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 1 - Written Assessment - 30% | ||||||
| 2 - Presentation and Written Assessment - 40% | ||||||
| 3 - Written Assessment - 30% | ||||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 1 - Communication | ||||||
| 2 - Problem Solving | ||||||
| 3 - Critical Thinking | ||||||
| 4 - Information Literacy | ||||||
| 5 - Team Work | ||||||
| 6 - Information Technology Competence | ||||||
| 7 - Cross Cultural Competence | ||||||
| 8 - Ethical practice | ||||||
| 9 - Social Innovation | ||||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Written Assessment - 30% | ||||||||||
| 2 - Presentation and Written Assessment - 40% | ||||||||||
| 3 - Written Assessment - 30% | ||||||||||
Textbooks
Entrepreneurship: Successfully Launching New Ventures
5th edition, Global edition (2016)
Authors: Barringer, BR & Ireland, RD
Pearson
Harlow Harlow , Essex , UK
ISBN: 9781292095370
Binding: Paperback
Additional Textbook Information
Purchase the vital source eText direct from Pearson (ISBN: 9781292095387), to avoid delays in shipping, and costs.
If your preference is for a hard copy, place your order through the CQUni Bookshop (http://bookshop.cqu.edu.au): ISBN: 9781292095370
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
m.n.johnson@cqu.edu.au
Module/Topic
Entrepreneurship: A primer for action
Chapter
Barringer & Ireland (2016)
Chapter 1
Events and Submissions/Topic
What type of collaborator am I?
What's in it for me (WIIFM)?
Place a bid for group members.
Module/Topic
Developing the business idea: Opportunity recognition.
Chapter
Barringer & Ireland (2016)
Chapter 2
Events and Submissions/Topic
Evaluate potential group members.
Module/Topic
Developing the business idea: Feasibility analysis.
Chapter
Barringer & Ireland (2016)
Chapter 3
Events and Submissions/Topic
Finalise group membership (2-3 people maximum)
Module/Topic
Developing the business idea: Business model architecture.
Chapter
Barringer & Ireland (2016)
Chapter 4
Events and Submissions/Topic
Assessment 1: Activity log #1 due
Entrepreneurial Activity Log Due: Week 4 Wednesday (29 Nov 2017) 5:00 pm AEST
Module/Topic
No new material
Chapter
No new material
Events and Submissions/Topic
No new activities
Module/Topic
Exploring the opportunity edge: Industry and competitor analysis
Chapter
Barringer & Ireland (2016)
Chapter 5
Events and Submissions/Topic
Module/Topic
Exploring the opportunity edge: Markets and marketing.
Chapter
Barringer & Ireland (2016)
Chapter 11
Events and Submissions/Topic
Module/Topic
The Business Plan
Chapter
Barringer & Ireland (2016)
Chapter 6
Events and Submissions/Topic
Assessment 2: Business Model Blueprint due
Business Model Blueprint Due: Week 7 Wednesday (3 Jan 2018) 5:00 pm AEST
Module/Topic
Business Plan: Legal considerations
Chapter
Barringer & Ireland (2016)
Chapter 7
Events and Submissions/Topic
Module/Topic
Business Plan: Financial strength and viability
Chapter
Barringer & Ireland (2016)
Chapter 8
Events and Submissions/Topic
Assessment 1: Activity log #2 due
Module/Topic
Business Plan: New-venture team
Chapter
Barringer & Ireland (2016)
Chapter 9
Events and Submissions/Topic
Module/Topic
Business Plan: Sourcing venture funding
Chapter
Barringer & Ireland (2016)
Chapter 10
Events and Submissions/Topic
Module/Topic
Business Plan: Preparing the pitch
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Assessment 3: Business Plan and
Pitch due
Business Plan & Pitch Due: Exam Week Monday (12 Feb 2018) 5:00 pm AEST
1 Written Assessment
Throughout the term, you are expected to participate in activities relevant to entrepreneurial behaviour. Some activities will happen in class/during online workshops; such as leading an in-class discussion related to a short case study from the text. Other activities will refer to your independent study; such as considering whether you have what it takes to be an entrepreneur!
During and immediately after the activity, you are required to fill in a one-page entrepreneurial activity log using a template provided in Moodle. The log will record your reflections on your learning and development as a potential entrepreneur. Activities and logs are designed to support your preparation for assessments 2 and 3.
In order to successfully complete this assessment, you are required to submit two sets of 3 completed activity logs. The first set is to be submitted no later than Week 4 and the second set no later than Week 9. The specific activities you need to carry out to complete these logs will be discussed and scheduled in Moodle.
Week 4 Wednesday (29 Nov 2017) 5:00 pm AEST
Week 6 Wednesday (20 Dec 2017)
Assessment 1: Entrepreneurial Activity Log (30%): Comprising the submission of two sets of three completed activity logs: Due Week 4 and Week 9.
Assessment Criteria:
- All sections of all logs are addressed (20%)
- Insightful comments detailing your learning and development (40%)
- Candid, yet concise, reflections relevant to the activity (40%).
- demonstrate understanding of the entrepreneurial function to a new venture
- explain the nature and relevance of creativity, innovation, and enterprise to a new venture
- critically review principles of risk management amongst entrepreneurs
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
2 Written Assessment
This assessment requires you to synthesise your business venture ideas and narrow them down to two viable business model blueprints. Using the business model canvass (Osterwalder & Pigneur, 2010) you are required to map the nine business model building blocks to create new mechanisms that create value and derive revenues by meeting unsatisfied, new, or hidden customer needs. Each business model will identify critical assumptions that will influence their success or failure; these might be resource specific or time dependent. Finally, you are to assign a success weighting to each model and identify how you might both mitigate the downside risks and boost the upside potential.
The submission is to follow a business report format. Word-length is 1000 (excluding blueprint diagrams).
Week 7 Wednesday (3 Jan 2018) 5:00 pm AEST
Submit via Moodle
Week 9 Wednesday (17 Jan 2018)
Via Feedback Studio in Moodle
Assessment Criteria
1. Provide a succinct explanation of the venture idea (10%)
2. Develop two alternative business model blueprints using the nine building blocks (2*10%)
3. Identify key assumptions (2*5%)
4. Explain the key relationships that exist across the nine building blocks (2*10%)
5. Evaluate what will support upside potential (2*5%)
6. Evaluate what will contribute to downside risk (2*5%)
7. Assign a success rating to each blueprint: probability and potential (2*5%)
8. Select the preferred blueprint you intend to develop into a business plan. Justify your choice. (10%)
- demonstrate understanding of the entrepreneurial function to a new venture
- explain the nature and relevance of creativity, innovation, and enterprise to a new venture
- critically review principles of risk management amongst entrepreneurs
- evaluate the business plan or proposal for a new venture.
- Communication
- Critical Thinking
- Information Literacy
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
3 Presentation and Written Assessment
Informed by the Business Model Blueprint, your group is required to prepare a business plan using the suggested format provided in Moodle. The business plan is to include a project plan specifying key activities, time frames, and resources required in the first twelve months of the proposed venture. You will then pitch the venture idea in a presentation to your lecturer.
Component 1: The Business Plan
Developing an idea into a successful business requires entrepreneurs to formulate and work through a winning business plan. In essence, a business plan is a written document that presents a clear, realistic and articulate articulation of how the entrepreneur plans to start and grow the business. You are required to prepare a project plan as detailed above.
In accordance with the material outlined in the prescribed text, you are required to form groups of a maximum three people to select a business idea or innovation and then collaborate to develop a business plan. This may be an original idea which you intend to take further, or it may be fictitious. Inspiration for business ideas/innovations can come from your personal interests or an existing business. Selections must be registered with the unit coordinator before commencing work on the business plan. The business plan should be no longer than 2000 words excluding project plan, reference list and other appendices as relevant.
Business Plan: 2000 word-length (excluding project plan) (70%): to be submitted 12 February 2018 at 5:00PM
Component 2: The Pitch
Entrepreneurs must be able to articulate the key points of their business plan in verbal form, within a very short time frame (view reality TV show Shark Tank). Pitches must be 3-4 minutes in duration and take place in the Review/Exam week commencing 12 February 2018. A video recording of the pitch must also be submitted (regardless of mode and recorded for uploading to Moodle; Zoom is recommended). The pitch must summarise the key points from the business plan. That means it must present a clear and very concise snapshot of the proposed business idea/innovation.
Business Pitch: 3-4 minutes (maximum) (30%): to be scheduled during Week commencing 12 February 2016.
Exam Week Monday (12 Feb 2018) 5:00 pm AEST
Submit online via Moodle
Return after Assessment Board meeting
Assessment Criteria
· Compelling business idea/innovation (10%)
· Application of business plan components (30%)
· Supporting evidence (desk research, interpretation and analysis of material) (10%)
· Project Plan (10%)
· Layout/presentation/style of business plan (10%)
· Pitch content (10%)
· Pitch persuasiveness (10%)
· Pitch delivery (10%)
- examine the relevance of personal involvement, capability, and resilience amongst entrepreneurs
- apply techniques associated with feasibility analysis, risk management, business planning, financing a new venture
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Team Work
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
