TECHCOMM 5018 - Opportunity Assessment

North Terrace Campus - Semester 2 - 2014

This course is aimed at anyone who needs to assess possible business opportunities including possible project management opportunities that are mainly, but not exclusively, based on an innovative technological concept. Rapid screening techniques are introduced, which will address the underlying business concept, the base technology, benefits to customers, potential markets, financial feasibility, risk and benefits to the organisation and the next steps to be taken. Opportunity screening protocols will be treated in depth and a comprehensive venture - screening guide will be developed during the course. The course covers all the key elements of a feasibility study for a new enterprise.

Open All

Course Details

Course Code	TECHCOMM 5018
Course	Opportunity Assessment
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Semester 2
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Incompatible	TECHCOMM 5027
Assessment	Assignments including class presentations

Course Staff

Course Coordinator: Dr Allan O'Connor

Name: Allan O’Connor

Short Bio:
Dr Allan O’Connor is the Academic Director for the Innovation and Entrepreneurship Post Graduate programs at the Entrepreneurship, Commercialisation and Innovation Centre (ECIC), The University of Adelaide. Formerly with the Australian Graduate School of Entrepreneurship, Allan has been lecturing in the fields of entrepreneurship and innovation in a number of topic areas associated with new venture strategy, evaluation and start-up since 2001. His qualifications include a Mechanical Engineering Certificate, a Grad. Dip. in Airconditioning, Grad. Dip. in Management, a Master of Enterprise Innovation and a PhD from The Australian Graduate School of Entrepreneurship at Swinburne University of Technology.

Allan’s industry experience has been with small and medium enterprises in the mechanical services industry sector (airconditioning and ventilation). He has been involved with developing and introducing new products, entering new markets, and expanding sales and business opportunities in both established and new business environments. This experience has exposed him to the practical challenges of growth, innovation and entrepreneurship from the perspectives of both existing and new businesses. Combining his qualifications and experience he now also regularly consults to organisations seeking to enhance entrepreneurship and innovation capacities and provides research, evaluation and advisory services in these areas. Allan’s research interests focus on the intersections between entrepreneurship and socioeconomic development. His recent academic publications in this area address the relationships between entrepreneurship, regional, organisational and human capital development. His research experience includes qualitative and quantitative methods and working with public sector organisations, private membership organisations and serving as project manager, researcher and co-author for the Westpac Global Entrepreneurship Monitor Australia project in 2004 and 2005.

Email: allan.oconnor@adelaide.edu.au

Phone: +61 8 8313 0188

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Opening intensive:
Monday 28th & Tuesday 29th July 2014
9am-5pm
Masonic Hall B02 Seminar Room East

Closing intensive:
Monday 25th & Tuesday 26th August
9am-5pm
Masonic Hall B02 Seminar Room East

Course Learning Outcomes

At the end of this course a candidate will have learned:

The difference between an idea and an innovative business opportunity
How to articulate a new venture investment proposition and communicate ideas and concepts effectively
How to build an assessment process for a new opportunity or venture to determine its viability and sustainability
To identify the areas of risk in research commercialisation and/or introducing new technologies or other innovations into a market
To produce a feasibility report for your own or another new venture opportunity
To make conclusions and recommendations on an opportunity for new venture development based upon a comprehensive assessment

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised.	1, 4, 6
The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner.	3-5
An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems.	6
Skills of a high order in interpersonal understanding, teamwork and communication.	2, 8
A proficiency in the appropriate use of contemporary technologies.	3, 4
A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life.	8, 9
A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community.	7, 8
An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities.	5

Learning Resources

Required Resources

Text book:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2013). Entrepreneurship: Theory, Process and Practice, 3rd Edition. Cengage Learning.
ISBN-13: 9780170214988

A comprehensive list of supplemental readings will also available on MyUni

Recommended Resources

There is a broad range of materials that cover and complement many of the topic areas covered in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials.

Candidates may also benefit by consulting the following text:
Timmons, Jeffry A., Gillin, L. Murray, Buhrstein, Sam L. and Spinelli, Stephen Jr. (2011). New Venture Creation: Entrepreneurship for the 21st Century, A Pacific Rim Perspective, 1st Edition. McGraw-Hill Australia Pty Ltd, North Ryde, NSW.

Online Learning

MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study (see: https://myuni.adelaide.edu.au)

Learning & Teaching Modes

This course is offered in blended learning mode with the face-to-face component offered as intensives.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).

Learning Activities Summary

Day 1: Monday 28 July 2014 – Introduction and assessing opportunity
Topic	Topic & Content	Preparation
1	Introduction – What’s this course about? - Overview of course and outline of syllabus, assignments and assessment - Confidentiality - Personal backgrounds - Opportunity: the core of entrepreneurial activity - Overview of the elements of an opportunity screen	Frederick, O’Connor and Kuratko 2014, Ch 5
2	Proposing a feasibility study – Might this be a good idea? - Group activity to generate an opportunity proposal - Guidelines for individual presentation in session 2 - Knowing your audience - Recording and assessing assumptions	Frederick, O’Connor and Kuratko 2014, Ch 6 Supplemental Timmons & Spinelli 2009, Ch 5
3	Is there a compelling need? - Problem definition - Needs and wants - Customer motivations	Frederick, O’Connor and Kuratko 2014, Ch 10 Supplemental Solomon 2002, Ch4
4	Are there enough customers? - Customer identification and segmentation - Market Analysis: size, growth & profitability - Customer Reach	Lehman & Winer 2005, Ch5 Kaplan & Warren, 2010 Ch4

Day 2: Tuesday 29 July 2014 – Assessing sustainability
Topic	Topic & Content	Preparation
5	Is this the right time and right place? - Environment analysis: The importance and impact of environmental factors - Life cycle analysis - The role of innovation	Carpenter et al 2010, Ch3
6	Is the industry favourable? - Who is the customer? - Industry value chain analysis - Channel power and five forces analysis	Frederick, O’Connor and Kuratko 2014, Ch 9 Supplemental Porter, 1979
7	Idea/concept presentations - Individual presentations - Presentation review & discussion	Assignment 1 (Part A)
8	How strong is the competition? - Who are your competitors? - Category mapping - Competitive position	Frederick, O’Connor and Kuratko 2014, Ch 9 Supplemental Aaker 2001,Ch 4 D’Aveni 2007

Day 3: Monday 25 August 2014 – Assessing Capability
Topic	Topic & Content	Preparation
9	Review and Sustainable Business Concepts - Industry analysis: Trends, power and dynamics, competitive forces - Barriers to entry - Thinking about exit	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Carpenter et al 2010 Ch3
10	How can the start-up be funded? - Funding options - Start-up resources - Set-up costs - Fixed and variable ongoing costs - Break-even analysis	Frederick, O’Connor and Kuratko 2014, Ch 15 Supplemental Refer course notes
11	Group assignment presentation	Assignment 2 Group presentation and discussion (ungraded)
12	The entrepreneur and the team - Capabilities and constraints - Personal objectives - Management team - Identifying gaps and building teams	Frederick, O’Connor and Kuratko 2014, Ch 2 Supplemental Kuemmerle 2002. Harper 2008

Day 4: Tuesday 26 August 2014 – Assessing the risks
Topic	Topic & Content	Preparation
13	Internal Analysis - Vision - Mission - Acquiring resources - Resource based view	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Wickham 2006, Ch18
14	Assessing Strategy - The business model - Internal value chain and other logics - Entry strategy and failing fast	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Sull 2004 Morris, Schindehutte and Allen 2005
15	Resilience (Can the risks be managed?) - Risk Management principles - SWOT analysis - Fatal flaws	Frederick, O’Connor and Kuratko 2014, Ch 11 English 2006, Ch 5
16	Wrap up and review - Review main points - Relationship to the business plan - Strategy and due diligence - Structuring the Opportunity Assessment assignment

Specific Course Requirements

This course requires you to present mature and well reasoned work that addresses the assessment of ideas and technologies for feasibility in the Australian business context. You will specifically refer to those factors that promote or work against successful opportunity assessment. Of prime importance is to show insight into limitations and risks of any approach you suggest or take – you therefore need to always take a critical stance.

You will need to read more widely on the topic then the list of references provided and beyond hits found on Google; remember this is postgraduate study.

Your work will need to be succinct and you should avoid overly verbose presentations. Do not labour the point, regurgitate theory or address irrelevant issues. Examples or cases may be used, if appropriate, to illustrate your point as they will serve to strengthen your arguments.

You are also required to structure your work so as it flows logically and your reasoning needs to be logical, sound and clear. The proper use of headings, sub-headings, bullet points and paragraphing will assist this purpose. Further, an executive summary or abstract at the beginning of your work will provide a clear overview of what follows in the body of your report.

Keep to the word limits and do not ramble. In every instance present your work as if it is a submission to a Board of Directors – succinct, clear, structured and reasoned.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Summary Table
Assessment No.	Form of Assessment/ Collaborative Task	Length (in word count)	Weighting	Due Date	Learning objective covered (see 2.1 for detail)
1 New Venture Pitch Assessment	Individual Assignment Summative	Max 1000 words + six (6) assessment forms	25%	5pm CST 13/08/2014	1,2
2 Feasibility Study	Group Assignment Formative	Max 3000 words	30%	5pm CST 10/09/2014	1,3,4
3 An Opportunity Assessment Framework -	Individual Assignment Summative	Max 3000 words	45%	5pm CST 10/10/2014	4-6
	Total		100%

Assessment Related Requirements

Students must complete all course assessment requirements and must attend lectures to be eligible to pass the course.
Course results are subject to moderation by the ECIC Board of Examiners

It is expected that assignments will be typed, using word processing software such as Microsoft Word. The preference is for you to hand in a printed and bound assignment, and also email the file as per the instructions in the following section.

Don’t cram too many words onto a page: use a line spacing of 1.5 lines, and a right-hand margin of 4cm (to enable feedback and comments). If software other than Microsoft Word is used, the file format must be one that can be read using Word, such as .doc or .rtf (rich text format). PDF (Acrobat) format is not acceptable unless accompanied by an editable Microsoft Word document or similar. All assignments may be scrutinised using Turnitin as per University policy (see below).

Assessment Detail

See MyUni for details

Submission

All text based assignments must be submitted via MyUni.
Please refer to step by step instructions: http://www.adelaide.edu.au/myuni/tutorials/files/AssignmentStudentSubmission.pdf

There are a few points to note about the submission of assignments:

Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
Cover Sheet: Please submit, separate to your assignment, the completed University of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work. Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
Backup Copy of Assignments: You are advised to keep a copy of your assignments in case the submitted copy goes missing. Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
Extensions of Time: Any request for an extension of time for the submission of an assignment should be made well before the due date of the assignment to the Course Lecturer. Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date. Extensions will only be granted in cases of genuine extenuating circumstances and proof, such as a doctor’s certificate, may be required.
Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade. Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in section 5.2 or 5.3). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator