TECHCOMM 2001 - Foundations of Entrepreneurship

North Terrace Campus - Winter - 2014

The nature and importance of entrepreneurship; forms of entrepreneurship; the entrepreneurial process; the entrepreneurial mind; creativity, ideas and innovation; screening entrepreneurial opportunities; identifying resources to support entrepreneurial activities; intellectual property issues; accessing finance and other resources; the entrepreneurial team; assessing risk; business structure and ethics; entrepreneurial strategy; finding and reaching customers and marketing innovation; feasibility planning.

  • General Course Information
    Course Details
    Course Code TECHCOMM 2001
    Course Foundations of Entrepreneurship
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Winter
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 4 hours per week
    Prerequisites At least 24 units of undergraduate study
    Course Description The nature and importance of entrepreneurship; forms of entrepreneurship; the entrepreneurial process; the entrepreneurial mind; creativity, ideas and innovation; screening entrepreneurial opportunities; identifying resources to support entrepreneurial activities; intellectual property issues; accessing finance and other resources; the entrepreneurial team; assessing risk; business structure and ethics; entrepreneurial strategy; finding and reaching customers and marketing innovation; feasibility planning.
    Course Staff

    Course Coordinator: Dr Gary Hancock

    Name: Manjula Dissanayake

    Short Bio:
    Manjula is a researcher in innovation and entrepreneurship at the Entrepreneurship Commercialisation and Innovation Centre (ECIC), University of Adelaide. Prior to starting his PhD candidature at the ECIC, he was a founding member with highly successful technology start up companies, one of which was acquired by Symbol Technologies (now a Motorola Company) in 2002. Manjula has worked on innovative projects for leading clients including the Fortune 500 in retail, banking and government sectors across more than 10 countries. Manjula has been a faculty member of Manchester Metropolitan University (MMU) – Bachelors in Information Systems program where he lectured, mentored and supervised students. He has also been a lecturer for the Accelerating Information Technology Initiative (AITI) at Massachusetts Institute of Technology (MIT). Manjula has co-authored granted US patents in the technology space mainly for the retail industry. He has served on numerous boards of universities and industry chambers including the American Chamber of Commerce, Sri Lanka. He has presented and chaired sessions at international conferences on Entrepreneurship in USA, Australia and in Sri Lanka and co-authored a book chapter on Entrepreneurship Education in Necessity-based Contexts. Manjula has served the judging panel at international competitions on entrepreneurship where he has also mentored the founders of technology start up companies. He obtained his Bachelors in Information Systems from MMU, UK with a First Class Honours and Masters in Advanced Computing from School of Computing - University of Colombo, Sri Lanka. Manjula has also obtained his executive management training from Stanford University, USA. He lives in Adelaide with his wife Mano and children Savin and Saheli.

    Email: manjula.dissanayake@adelaide.edu.au

    Phone: +61 (0)8 8313 2561

    Course Timetable

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

    Intensive:
    Monday 7th to Friday 11th July 2014
    9am-5pm
    Masonic Lodge B02 Sem Room East

    Examination:
    Monday 25th July 2014
    9-11am
    Masonic Lodge B02 Sem Room East
  • Learning Outcomes
    Course Learning Outcomes

    After completion of this course a student will have learned:

    1. The concepts and practice of entrepreneurship
    2. The difference and relationship between entrepreneurship and innovation
    3. How to identify the attitudes, values, characteristics, and processes associated with successful entrepreneurial behaviour
    4. The entrepreneurial process of turning an idea into a viable and sustainable venture and to communicate these ideas and concepts effectively
    5. How to attract resources to take advantage of an opportunity
    6. The importance of building an entrepreneurial team
    7. The legal and ethical issues facing entrepreneurs
    8. The different sources of financing to develop business opportunities
    9. To acquire a wide source of material that facilitates a continual learning process
    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
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 4, 5, 8, 9
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1, 2, 4-6
    Skills of a high order in interpersonal understanding, teamwork and communication. 1, 3, 4, 6
    A proficiency in the appropriate use of contemporary technologies. 1, 5
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1, 2, 9
    A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 3, 6
    An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 3, 6, 7
  • Learning Resources
    Required Resources
    No textbook required.
    Recommended Resources
    The following list of readings replaces a prescribed text for the course. These readings are available for download on MyUni, and you will be referred to further resources within class and on the course website.

    Deakins, David & Freel, Mark 2006, 'The entrepeneur : concepts and evidence', in Entrepreneurship and small firms, 4th ed., McGraw-Hill Education, Maidenhead, pp. 1-24.

    Shane, Scott Andrew 2003, 'The role of opportunities', in A general theory of entrepreneurship: the individual-opportunity nexus, E. Elgar, Northampton, MA, pp. 18-35.

    Timmons, Jeffry A. & Spinelli, Stephen c2009, 'Ch. 3 The Entrepreneurial process -- Ch. 5 The opportunity: creating, shaping, recognizing, seizing', in New venture creation: entrepreneurship for the 21st century, 8th ed., McGraw-Hill/Irwin, Boston, pp. 101-125.

    Mazzarol, Tim 2006, 'Entrepreneurs versus owner-managers: theories of new venture creation', in Small business management: an applied approach, 1st ed., Tilde University Press, Prahan, Vic., pp. 27-61.

    Frederick, Howard H., Kuratko, Donald F. & Hodgetts, Richard M. 2006, 'Intrapreneurship : developing corporate entrepreneurship', in Entrepreneurship: theory, process, practice, Asia Pacific ed. /, Thomson, South Melbourne, pp. 46-65.

    Zimmerer, Thomas W., Scarborough, Norman M. & Wilson, Doug 2007, 'Inside the entrepreneurial mind: from ideas to reality', in Essentials of entrepreneurship and small business management, 5th ed., Prentice Hall, Upper Saddle River, N.J., pp. 41-59.

    Barringer, Bruce R. & Ireland, R. Duane c2008 [i.e. 2007], 'Building a new-venture team', in Entrepreneurship: successfully launching new ventures, 2nd ed., Pearson/Prentice Hall, Upper Saddle River, NJ, pp. 254-267.

    Hatten, Timothy S. c2006, 'Small business finance', in Small business management: entrepreneurship and beyond, 3rd ed., Houghton Mifflin Co., Boston, pp. 249-259.

    Longenecker, Justin Gooderl, Moore, Carlos W., Petty, J. William & Palich, Leslie E. c2006, 'The financial plan, part 2: finding sources of funds', in Small business management: an entrepreneurial emphasis, 13th ed. /, Thomson/South-Western, Mason, OH, pp. 236-249.

    Hisrich, Robert D., Peters, Michael P. & Shepherd, Dean A. 2010, 'Entrepreneurial strategy: generating and exploiting new entries', in Entrepreneurship, 8th ed., McGraw-Hill/Irwin, New York, NY, pp. 64-90.

    Shaw, William H., Barry, Vincent E. & Sansbury, George 2009, 'The nature of morality', in Moral issues in business, 1st ed., Cengage Learning, South Melbourne, Vic., pp. 3-56.

    Bates, Tony c2003, 'Introductory remarks on knowledge, learning and teaching', in Bates, Tony & Poole, Gary, Effective teaching with technology in higher education: foundations for success, 1st ed., Jossey-Bass, San Francisco, pp. 25-45, 283-291.

    Trott, Paul, 'Innovation management: an introduction' 2002, in, Innovation management and new product development, 2nd ed., Financial Times Prentice Hall, Harlow, pp. 3-30.
    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 Activities
    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
    Learning Activities Summary
    Day  Date Content Activities
    Opening 1st Day of intensive Session 1: Introduction to entrepreneurship Workshops in class
    2nd Day of intensive Session 2: Generating and screening business ideas Workshops in class
    3rd Day of intensive Session 3: Teams and resources Workshops in class
    Session 4: Writing the Concept Statement report In class discussion
    Closing 1st Day of intensive Session 4: Managing resources Workshops in class
    2nd Day of intensive Session 5: Structures and strategies Workshops in class
    3rd Day of intensive Session 6: Practical applications Workshops in class
    Session 7: Writing the feasibility report In class discussion
    Exam 25th July Complete Exam
    Specific Course Requirements
    Session 1: Introduction to entrepreneurship

    1-1: Introduction to the course

    Learning objectives
    After this module, you will have an overview of the whole course. You will be introduced to the other students, and will be allocated into a team for group work.

    Exercise (in teams)
    Discuss your hopes for course, what you want to get out of it. Write a list of points, and then compare it with other teams' hopes and expectations. The lecturer will then comment on which are likely to be achieved, and which might not. Use Worksheet 1-1 for this exercise.

    1-2: The nature and importance of entrepreneurship

    Learning objectives
    After this module, you should know what innovation and entrepreneurship are and why they are important to society.

    Exercise (in teams)
    Use Worksheet 1-2 to examine motivations for starting a new venture and the entrepreneurial decision making process.

    1-3: Forms of entrepreneurship

    Learning objectives
    This module will explain the Timmons model of entrepreneurship, and also gives you an overview of corporate entrepreneurship (“intrapreneurship”), social entrepreneurship, “ecopreneurship,” and minority entrepreneurship in its several forms.

    Exercise (individual)
    Use the template provided in Worksheet 1-3.

    Session 2: Generating and screening business ideas

    2-1: The entrepreneurial mind

    Learning objectives
    After this module, you should know about the motivations of entrepreneurs, the importance of role models and support systems, and understand the differences between inventors and entrepreneurs.

    Exercise (individual)
    Complete the entrepreneurship quiz - Worksheet 2-1.
    2-2: Identifying Opportunities

    Learning objectives
    After this module, you should be able to generate potential business ideas using a range of methods and by removing mental blocks to creativity.

    Exercise (individual)
    Use Worksheet 2-2 to generate some ideas that might result in a possible business. Be prepared to present a couple of your best ideas to the whole class.

    2-3: Screening business opportunities

    Learning objectives
    After business ideas have been generated, they need to be screened. Many ideas cannot be converted into successful businesses, for reasons that are often obvious to outsiders. After this module, you will be familiar with the dimensions for screening new product opportunities, how to use a product opportunity screening diagnostic, and how to use the results of that process.
    After this module, you should know how to identify aspects that make a business concept successful, and be able to write a high quality concept statement.

    Exercise (in teams)
    Combine the ‘best’ ideas from each team member, and then carry out a simple selection and screening process to indicate the potential of these ideas as a business opportunity. Use Worksheet 2-3 as provided for this module.

    Session 3: Teams and resources

    3-1: The team

    Learning objectives
    In this module, you are introduced to the concept of building a team. In your team, write a concept statement for your chosen business opportunity as the first step in planning.

    Exercise (in teams)
    The aim is to select what appears to be the most promising business idea for the team and detail the idea in the form of a concept statement, using Worksheet 3-1.

    3-2: Building a resource base

    Learning objectives
    This module is based on the resource-based view of the firm. You are shown an approach for identifying the resources that you will need to make sure that your venture will ‘get up’ and be competitive in the market place.

    Exercise (in teams)
    Use Worksheet 3-2 to map the resources for your proposed venture. This will help you to identify resources you already have, resources you will need, and the priorities that you need to give each of these resources. You may not be able to complete the whole worksheet during this module, but you can come back to it later.
    3-3: Protecting your idea

    Learning objectives
    After this module, you should know about the main types of intellectual property (IP), how they can be protected from unauthorized use, and when it is relevant to use each type. These include patents, registered designs, trademarks, business names, domain names, copyright, and confidentiality and non-disclosure agreements.

    Exercise (in teams)
    Use Worksheet 3-3 to work out how to protect the intellectual property expected to arise from the business concept you are developing.

    Session 4: Managing resources

    4-1: Accessing finance

    Learning objectives
    How can a new, small business get access to the resources it needs - in particular, the financial resources? After this module, you should know the type of financing you will need at each stage of development of the new venture and where to look for financial support.

    Exercise (in teams)
    For your team’s chosen business concept: consider the main types of resources you will need, and the advantages and disadvantages of outsourcing each of them. Record your conclusions on Worksheet 4-1.

    4-2: Accessing resources

    Learning objectives
    The entrepreneurial approach to acquiring necessary resources is to use ‘other people’s resources’. After this module, you should know why entrepreneurs seek to minimise resource ownership, how they gain access to ‘other people’s resources’ without owning them. You will also look at how franchising can be a way of accessing resources.

    Exercise (in teams)
    For your team’s chosen business concept: consider the main types of non-financial resources you will need, and the advantages and disadvantages of outsourcing each of them. Use Worksheet 4-2 to record your team’s thoughts and ideas.

    4-3: Managing risk

    Learning objectives
    In this module, you will learn about the two main types of risks faced by entrepreneurs (omission and commission), quantifying risk and selecting suitable risk levels, and methods that can be used to reduce needless risk.

    Exercise (in teams)
    Using the template provided (Worksheet 4-3), assess the major risks for your team’s proposed business venture.

    Session 5: Structures and strategies

    5-1: Business ethics

    Learning objectives
    This module includes discussion on how to structure a business in a way that matches the entrepreneurial strategy being used. After this module, you should know the main structures available for new venture creation. You will also understand why high ethical standards are vital in sustaining a business.


    Exercise (in teams)
    Use Worksheet 5-1. For your team’s chosen business concept: consider the following aspects of its activities and identify possible ethical issues that might arise. Suggest how you might deal with these.

    5-2: Entrepreneurial strategy

    Learning objectives
    This module focuses on how to plan the best way to enter the market with your new venture. It includes discussion on the resources that underpin successful entry strategies and the practical value and limitations of popular entry strategies.

    Exercise (in teams)
    Issue for discussion: Under what conditions would a first-mover advantage be most likely to continue? Use Worksheet 5-2 to record answers.

    5-3: Reaching your customers: distribution channels

    Learning objectives
    It is no use having the world’s best innovation if it cannot reach the target markets. This module covers issues relating to the selection of distribution channels for a new venture. After this module, you should be able to select the most appropriate set of distribution channels for each type of business venture.

    Exercise (in teams)
    Refer to Worksheet 5-3, which includes a case study of a business that makes clothes to order for people of unusual sizes. Discuss the case study.

    Session 6: Practical applications

    6-1: Practical marketing

    Learning objectives
    This module includes a brief overview of ‘how marketing works’ and an exercise on interviewing customers for the new venture. After this module, you will understand the basic concepts of marketing and you will be able to carry out a simple interview to gather primary marketing information.

    Exercise (in teams)
    The purpose of this simple customer survey exercise is to give each team member experience in developing a simple questionnaire, interviewing another person, and compiling the data. This is important preparation for an activity that all students are required to carry out as part of this course.

    Important Note:
    This exercise will not turn students into market researchers or equip you to carry out consumer research as a consultant. However, it will give you an idea of what is involved in researching customer needs and perceptions, and appreciate the complexity and subtleties of this kind of work.

    6-2: Forecasting sales

    Learning objectives
    A key part of your feasibility plan is to estimate how much you are likely to sell in each of the next three years. To make a plausible forecast is an art, particularly for products and services that are new to the market. The crucial aspect of any forecast is deciding how much credence to place in it. After this module, you should understand the basics of forecasting, with particular focus on the forecasting of innovations and on sales forecasting. You should also be able to understand the limitations of forecasts – both published forecasts and your own.

    Exercise (in teams)
    Using the Canon Digital Lifestyles Index, (www.canon.com.au/ftp/canon digital lifestyle index 2004.pdf) estimate the sales figures for digital still cameras in Australia. Detailed information is in Worksheet 6-2.

    6-3: The feasibility plan

    Learning objectives
    The final module is about planning. After this module, you should know the difference between a feasibility plan (or business case), business plan, strategic plan, operational plan, and marketing plan. In particular, you will know how to write a sound feasibility plan.

    Exercise (in teams)
    Draw up a project plan that details who is going to do what tasks by which date. Make sure you have time for research, writing and discussing your individual tasks. Decide early who will do the final edit, and by what time everyone will get their final draft to them. If you foresee difficulties that you are unable to resolve, see the lecturer about them as soon as possible.
  • 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:

    #AssessmentLengthWeightingDue DateLearning Outcomes
    1 Individual report 1500 words 30% 13th July 1, 2, 3, 4, 7
    2 Group assignment 4000 words 30% 1st August 4-9
    3 Exam 2 hour, closed book 30% 25th July 1-8
    4 Individual Participation and Group Contribution Course duration 10% Ongoing 1-9
    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
    Assessment Detail
    Assessment 1: Individual Report
    Weighting: 30%
    Due Date: See MyUni
    Submission Details: Online through MyUni

    Task:
    Pick a business idea that you developed in class but not chosen as the group project. Prepare a concept statement that outlines the important aspects of the opportunity. Use the concept statement format provided .

    Scope:
    This assignment will assess your understanding of the topics presented, discussed and/or applied over days 1, 2 and 3 of the course.


    Length and Presentation:
    1500 words

    Criteria by which your assessment will be marked:
    Will be provided by the lecturer in class.

    Learning objectives with this assessment (refer to section 2.1): 1, 2, 3, 4 and 7



    Assessment 2: Group Assignment
    Weighting: 30%
    Due Date: See MyUni
    Submission Details: Online through MyUni

    Task:
    Write a feasibility plan for a business opportunity that you have identified during the course. Use the feasibility plan outline provided. Your conclusion from this report is to either proceed to a business plan or ‘drop’ the idea in its present form. You may wish to provide a conclusion that identifies what must be changed in the concept before it is developed further. Each member of the group will receive the mark that is awarded to the assessment. Therefore, it is important that a plan is developed for the tasks of researching and writing of the report.

    Scope:
    This assignment will assess your understanding of course topics presented and discussed over days 1 to 6 of the course.

    Length and Presentation:
    4000 words

    Criteria by which your assessment will be marked: Will be provided by the lecturer in class.

    Learning objectives with this assessment (refer to section 2.1): 4- 9



    Assessment 3: Exam
    Weighting: 30%
    Due Date: Friday 25th July 9.30am
    Submission Details: 2 Hour In-class examination

    Task:
    The closed-book exam will be 2 hours ion duration, and will contain questions derived from the lectures and readings. Further details will be provided during the lectures.

    Scope:
    This assessment will assess your understanding of the course content presented and discussed throughout days 1 to 6 of the course.

    Length and Presentation:
    2 hour, closed book

    Criteria by which your assessment will be marked: Will be provided by the lecturer in class.

    Learning objectives with this assessment (refer to section 2.1): 1-8




    Assessment 4: Individual Participation and Group Contribution
    Weighting: 10%
    Due Date: Ongoing

    Task:
    To fully particpate in all individual and group tasks and activities throughout the duration of the course. Particiaption will be evaluated based on students’ preparedness, interaction, and in-class work (whole class and group work).

    Scope:
    This assessment will assess understanding of the course content presented and discussed throughout days 1 to 6 of the course.

    Criteria by which your assessment will be marked: Will be provided by the lecturer in class.

    Learning objectives with this assessment (refer to section 2.1): 1-9
    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 'Assessment Related Requirements' or 'Assessment Detail' above) 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
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