TECHCOMM 5018OL - Opportunity Assessment

Online - Quadmester 1 - 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.

  • General Course Information
    Course Details
    Course Code TECHCOMM 5018OL
    Course Opportunity Assessment
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Quadmester 1
    Level Postgraduate Coursework
    Location/s Online
    Units 3
    Course Description 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.
    Course Staff

    Course Coordinator: Dr Allan O'Connor

    Program Director Contact Details:
    Innovation and Entrepreneurship (PG)
    Name: Dr Allan O’Connor
    Phone: +61 8 8313 0188

    Teaching Staff:
    Name: David Byrne

    Short Bio:
    David has a degree in Business Management and specialises in planning and marketing for small business. He also holds a Diploma in Small Business Management. David is a contributing author of the highly successful Small Business Management series of texts published by Adelaide TAFE and has presented papers on small business management at national and international conferences. He is also an Accredited APEC Small Business Counsellor and is responsible for the accreditation of APEC Small Business Counsellors throughout Australia.

    We hope you enjoy this course and the benefits that it will bring you in your professional life and in enhancing your abilities and desire to continue the process of life long learning.

    Email:david.byrne@adelaide.edu.au

    Course Timetable

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

    Monday 13 January to Sunday 23 March 2014

  • Learning Outcomes
    Course Learning Outcomes

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

    1. The difference between an idea and an innovative business opportunity
    2. How to articulate a new venture investment proposition and communicate ideas and concepts effectively
    3. How to build an assessment process for a new opportunity or venture to determine its viability and sustainability
    4. To identify the areas of risk in research commercialisation and/or introducing new technologies or other innovations into a market
    5. To produce a feasibility report for your own or another new venture opportunity
    6. 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

    This required text is available as an ebook from the following website:
    http://www.cengagebrain.com.au/shop/isbn/9780170214988

    You will need to purchase/have access to the following text:
    Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2013). Entrepreneurship: Theory, Process and Practice, 3rd Edition. Cengage Learning.

    Additional readings will be made available through the LEARN site:

    Week 1
    Clark, Megan, Eaton, Melissa, Lind, Pye, Emily and Bateman, Laura 2011, Key statistics: Australian small business, Dept. of Innovation, Industry, Science and Research, Canberra.

    http://www.innovation.gov.au/SmallBusiness/KeyFacts/Pages/default.aspx

    Mazzarol, Tim 2006, '[Extracted from] Small business management: an applied approach' in Mazzarol, Tim, Small business management : an applied approach, 1st ed., Tilde University Press, Prahan, Vic., pp. 27-61.

     

    Week 2
    Porter, Michael E. c1980, 'The structural analysis of industries', in Porter, Michael E., Competitive strategy : techniques for analyzing industries and competitors, Free Press, New York, pp. 3-33.

     

    Week 3
    English, John W. 2006, ' Ch. 5 IDEAS evaluation -- Ch. 6 Commercial and financial feasibilty ', in English, John W., How to organise & operate a small business in Australia : how to turn ideas into success, 10th ed., Allen & Unwin, Crows Nest, N.S.W., pp. 62-84, 85-95.

    Timmons, Jeffry A. & Spinelli, Stephen c2009, 'Ch. 3 The Entrepreneurial process -- Ch. 5 The opportunity: creating, shaping, recognizing, seizing', in Timmons, Jeffry A. & Spinelli, Stephen., New venture creation : entrepreneurship for the 21st century, 8th ed., McGraw-Hill/Irwin, Boston, pp. 147-185.

     

    Week 4
    'Ch. 5 Marketing research and market segmentation -- Ch. 9 Place' 1995, in Business basics : marketing, BPP Publishing Ltd, London, pp. 94-105

     

    Week 5
    'Ch. 5 Marketing research and market segmentation -- Ch. 9 Place' 1995, in Business basics : marketing, BPP Publishing Ltd, London, pp. 206-215.

     

    Week 6
    Kuemmerle, Walter 2002, A test for the fainthearted, Harvard Business Review, vol. 80, no. 5, pp. 122-127.

    Harper, David A. 2008, Towards a theory of entrepreneurial teams, Journal of Business Venturing, vol. 23, no. 6, pp. 613-626.

     

    Week 7
    Legge, John & Hindle, Kevin 1997, '[Extracted from] Entrepreneurship : how innovators create the future', in Legge, John & Hindle, Kevin, Entrepreneurship : how innovators create the future, Macmillan Education Australia, South Melbourne, pp. 47-49.

     

    Week 8
    Entrepreneurship, Commercialisation and Innovation Centre 2010, Opportunity assessment - can the venture be funded?, Entrepreneurship, Commercialisation and Innovation Centre, Adelaide.

    Pittwood, E. M. 2010, '[Extracted from] Plan small business finances : a resource for: BSBSMB402A Plan small business finances', in Pittwood, E. M., Plan small business finances : a resource for: BSBSMB402A Plan small business finances, Small Business Training Centre, TAFE SA, Adelaide, pp. 7-15 and pp 129-134

     

    Week 9
    Mazzarol, Tim 2006, '[Extracted from] Small business management : an applied approach' in Mazzarol, Tim, Small business management : an applied approach, 1st ed., Tilde University Press, Prahan, Vic., pp. 214-220.

    Entrepreneurship, Commercialisation and Innovation Centre 2010, Opportunity assessment - can the venture be funded?, Entrepreneurship, Commercialisation and Innovation Centre, Adelaide.

    Pittwood, E. M. 2010, '[Extracted from] Plan small business finances : a resource for: BSBSMB402A Plan small business finances', in Pittwood, E. M., Plan small business finances : a resource for: BSBSMB402A Plan small business finances, Small Business Training Centre, TAFE SA, Adelaide, pp. 207-213.

     

    Week 10
    Mazzarol, Tim 2001, Do formal business plans really matter? -- An exploratory study of small business owners in Australia, Small Enterprise Research, vol. 9, no. 1, pp. 32-45.

    Pittwood, Elaine & Byrne, David 2010, 'Strategic planning' in Pittwood, Elaine & Byrne, David, Small business planning : a resource for BSBSBM404A, Undertake small business planning, Rev. ed. 2010, TAFE SA, Adelaide, S. Aust., pp. 77-88.

    Recommended Resources

    There is a broad range of materials that cover and complement many of the topic areas covered in this course. These recommended readings can be found on the week home assignment pages for each week on the LEARN site.

    Candidates may also benefit by consulting the following texts:

    English, J.W. (2006).   How to Organise and Operate a Small Business in Australia. 10th edition. Sydney. Allen & Unwin Pty Ltd. ISBN: 1741141222

    Timmons, Jeffry A. and Spinelli, Stephen Jr. (2009). New Venture Creation: Entrepreneurship for the 21st Century, 8th edition. McGraw-Hill Irwin, Boston.

    Pittwood and Byrne. (2010). Small business planning – 3rd edition. Adelaide TafeSA Production House.
    https://shop.tafesa.edu.au/LOR/Browse.aspx?ActivityCode=KC

    Library Resources
    The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. The University Library web page is: http://www.adelaide.edu.au/library/

    From this link, you are able to access the Library's electronic resources.

    Online Learning

    LEARN is the University of Adelaide’s platform for dedicated online delivery. LEARN is a customised version of Moodle, and houses all course requirements including the course profile, announcements, additional course materials (beyond the prescribed text), assessment items, discussion forums, grading, feedback, links to various university and course resources, an internal website email system, a technical assistance facility, etc. LEARN is only accessible once the URL and a password have been provided to the student on enrolment. Students are given access to the course prior to the start date to familiarise themselves with the operational aspects and functionality of the website. 

  • Learning & Teaching Activities
    Learning & Teaching Modes

    This course is offered in online mode.

    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.

    Learning Activities Summary
    This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.
    Week Content Readings Activities
    1 Introduction to Opportunity Assessment Articles

    Discussion Forum

    Success Factors Activity
    2 Environmental Analysis Articles & video

    Discussion Forum

    Porter Activity
    3 Ideas and Opportunities Articles

    Discussion Forum

    PACE Program Approach Activity
    4 Evaluating the Market Articles

    Discussion Forum

    SWOT Activity

    Submit: Business Opportunity
    5 Marketing the Opportunity Articles

    Discussion Forum

    Competitive Advantage Activity
    6 The Entrepreneur and the Team Articles

    Discussion Forum

    Team Characteristics Quiz

    Reflective Activity
    7 Risk and Resilience – Critical Issues Articles

    Discussion Forum

    Risk Assessment Activity
    8 Financial Requirements and Financial Viability Articles

    Discussion Forum

    Financial Analysis Activity
    9 Financial Projections Articles

    Discussion Forum

    Operating Expenses Activity
    10 Course Summary and Further Planning Articles

    Discussion Forum

    Planning Activity

    Submit: Feasibility Study
    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.

  • Assessment

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

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

    Assessment Summary
    An overview of the course assessment appears in the following Table. Details appear in the following section:
    # Assessment Length Weighting Due Date Learning Outcomes
    1 Describe a Business Opportunity 2500 words 20% Day 7 of Week 4 1-4
    2 Feasibility Study 4000 words 40% Day 7 of Week 10 2-7
    3 Discussion and Participation 2 - 3 posts/week 20% Day 3-7 of Weeks 1-10 1-5, 7-9
    4 Application Assignments 500-1000 words each 20% Day 7 of Weeks 1-10 1-4, 6, 7, 9
    Total 100%
    Assessment Related Requirements

    It is expected that assignments will be typed, using word processing software such as Microsoft Word.

    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.

    Students must complete all course assessment requirements.

    Course results are subject to moderation by the ECIC Board of Examiners

    Assessment Detail

    Assessment 1: Describe a Business Opportunity
    Weighting: 20%
    Due Date: Day 7 of Week 4
    Submission Details: Via Drop Box in LEARN

    Task:

    • Describe a Business Opportunity you you will use as the basis for a feasibility study.
    • Identify and outline three (3) methodologies that may be used to evaluate a business opportunity.
    • Outline the methodology you will utilise to validate the viability of your chosen business opportunity.

    Scope:
    This exercise will assess your knowledge, understanding and application of the relevant material covered in course topics 1 – 4.

    Length and Presentation:
    2500 words

    Criteria by which your assignment will be marked:

    • Demonstrated competent description of the business venture
    • Identified the steps to validate the selected business venture
    • Demonstrated clarity of expression, depth of analysis, logical planning and sequence
    • Demonstrated effective use of resources in formulating the response including proper acknowledgements and the appropriate use of references (APA should be used)
    • Demonstrated quality of writing, and overall presentation including: grammar, spelling, and punctuation
    • The Harvard Referencing System is necessary in assignments, especially material copied from the internet. For examples of correct citations visit the following links: http://www.adelaide.edu.au/library/guide/gen/bibsoft/styles.html



    Assessment 2: Feasibility Study
    Weighting: 40%
    Due Date: Day 7 of Week 10
    Submission Details: Via Drop Box in LEARN

    Task:
    Prepare a Feasibility Study (Opportunity Assessment Report), using the model you selected in Assignment 1 to decide the potential of the business opportunity you have chosen to investigate.

    Scope:
    Producing the Feasibility Study will assess your knowledge, understanding and application of the content covered in course topics 1-10.

    Length and Presentation:
    4000 words

    Criteria by which your assignment will be marked:

    • Demonstrated quality and applicability of research utilized to formulate the feasibility study.
    • Demonstrated clarity of expression, depth of analysis, logical planning and sequence.
    • Demonstrated effective use of resources in formulating the response including proper acknowledgements and the appropriate use of references (APA should be used).
    • Demonstrated quality of writing, and overall presentation including: grammar, spelling, and punctuation.
    • The Harvard Referencing System is necessary in assignments, especially material copied from the internet. For examples of correct citations visit the following links: http://www.adelaide.edu.au/library/guide/gen/bibsoft/styles.html



    Assessment 3:
    Discussion and Participation.
    Weighting: 20%
    Due date: Day 3-7 of Weeks 1-10.
    Submission Details: Via discussion prompts on the forum in LEARN

    Task:
    Contribute to Online Forums and questions that are shared with all students. TheDiscussion Forums and Questions are indicated in the online study Topics at therelevant point.

    Scope:
    Discussion and participation in the forums will assess your knowledge, understanding and application of the content covered in course topics 1-10.

    Length and Presentation
    :
    Concise and informative summaries that respond directly to the set questions.
    Submissions should be 100 + words and reply to 2- 3 posts from other submissions.

    Criteria by which your assignment will be marked:

    • Responses demonstrate knowledge and understanding of the assignment and the underlying concepts and theories.  
    • Responses demonstrate the ability to employ, cite, and incorporate the assigned course materials and other outside resources to support your arguments and statements.
    • Responses to classmates’ posts demonstrate critical thinking, constructive feedback, and meaningful inputs to the discussion that meet the criteria for substantive participation.
    • Demonstrated quality and clarity of writing

     

    Assessment 4: Application Assignments
    Weighting: 20%
    Due date: Day 7 of Weeks 1-10
    Submission Details: Via Drop Box in LEARN

    Task:
    You are required to apply the content of the current week to a business situation or your chosen business opportunity to demonstrate and reinforce the principles covered in the Topic.

    Scope:
    Topics 1- 3 and 5-9

    Length and Presentation:
    Concise and informative summaries that respond directly to the questions.
    500-1000 words

    Criteria by which the assignment will be marked:

    • Responses demonstrate critical thinking and insights, problem solving, and ability to apply and synthesize concepts and theories.
    • Responses demonstrate knowledge and understanding of the assignment and the underlying concepts and theories.
    • Responses demonstrate the ability to employ, cite, and incorporate the assigned course materials and other outside resources to support your arguments and statements.
    • Demonstrated quality and clarity of writing
    Submission

    All text based assignments must be submitted via Drop Box in LEARN

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

    • Assignment Submission: Assignments should be lodged via Drop Box in the LEARN system. Please refer to individual assignment tasks for specific submission details relevant to each task. Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
    • Cover Sheet: As part of your assignment, please add the completed University of Adelaide Assessment Cover Sheet to your assignment, 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. Where applicable, also include the word count excluding title pages and references.
    • 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 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.

    Resubmission & Remarking
    Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted.  Approval for resubmission will only be granted on medical or compassionate grounds.
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    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.

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