TECHCOMM 3001 - New Venture Planning

North Terrace Campus - Semester 1 - 2015

Project management principles and practice; foresight and forecasting methodologies; types of business plans and their uses; financial, marketing and operational aspects of an innovation plan; strategic analysis of innovation and identification of opportunities.

  • General Course Information
    Course Details
    Course Code TECHCOMM 3001
    Course New Venture Planning
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: Lectures and practicals
    Available for Study Abroad and Exchange Y
    Course Description Project management principles and practice; foresight and forecasting methodologies; types of business plans and their uses; financial, marketing and operational aspects of an innovation plan; strategic analysis of innovation and identification of opportunities.
    Course Staff

    Course Coordinator: Dr Gary Hancock

    Name: Matthew McKinlay

    Short Bio:
    Matthew is currently completing his PhD in innovation, with a focus on the iPod, digital music and the internet. Previously, Matthew has researched entrepreneurship at a state level in Australia, using data from the Global Entrepreneurship Monitor, which is an international research program coordinated by Babson College (US) and the London School of Economics (UK).

    Email: matthew.mckinlay@adelaide.edu.au 

    Phone: +61 8 8313 7422
    Course Timetable

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

    Opening Intensive:
    16th Monday , 17th Tuesday and 18th Wednesday March 2015
    9am to 5pm
    Nexus10 Level 5, Seminar Room 5.01

    Closing Intensive:
    4th Monday, 5th Tuesday and 6th Wednesday May 2015
    9am to 5pm
    Napier 210 Tutorial Room
  • Learning Outcomes
    Course Learning Outcomes
    1 Understand how to develop a strategic business plan
    2 Develop their own effective strategic business plan
    3 Know how to communicate their business plan effectively to financiers and other stakeholders
    4 Understand the pros and cons of developing a business plan
    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. 2,3
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 2,4
    Skills of a high order in interpersonal understanding, teamwork and communication. 2,3
    A proficiency in the appropriate use of contemporary technologies. 1-4
  • Learning Resources
    Required Resources
    Text book:
    No Text book required.

    Students will have access to a comprehensive set of entrepreneurship and business plan readings (and business plan case example):

    Lindsay, Noel, Craig, Justin, and Geronimos, Gail (2009). Business Planning for Entrepreneurs, Module 2, Authors Academic Publishing, Corvallis, USA. (Handout)

    Timmons, Jeffry A. and Spinelli, Stephen Jr. (2009). New Venture Creation: Entrepreneurship for the 21st Century, 8th edition. McGraw-Hill Irwin, Boston. Chapter 3 (Handout)

    Lindsay, Noel (2010). Business Plan Template. (Handout)

    2MBA Business Plan (Handout) – Students should read this in advance and be prepared to discuss this business plan in class

    Bell, Gordon and Mason, Heidi, Bell-Mason Diagnostic, Chapter 10. (Handout)

    Lindsay, Noel (2010). Common Financial Ratio Formulae (Handout)

    Recommended Resources
    Though not compulsory, students may wish to have a look at the following entrepreneurship texts:

    Timmons, Jeffry A., Gillin, L. M., Burshtein, S., and Spinelli, Stephen Jr. (2010). New Venture Creation: Entrepreneurship for the 21st Century – A Pacific Rim Perspective, 1st Edition. McGraw-Hill Irwin.

    Hisrich, Robert D., Peters, Michael P., and Shepherd, Dean A. (2010). Entrepreneurship, 8th Edition. McGraw-Hill Irwin, Boston

    Students are also encouraged to review some of the following to supplement their knowledge:

    Business plan books that are widely available

    Entrepreneur/venture capitalist media sites such as Entrepreneur.com, Inc.com, and RedHerring.com

    Scholarly entrepreneurship journals including Journal of Business Venturing, Entrepreneurship Theory and Practice, Journal of Small Business Management, Venture Capital, and Family Business Review where you will find the latest in what is happening in international entrepreneurship research.


    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
    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
    Intensive
    Day 
    Content  Readings/ Activities
    1 Course overview

    Introductions

    Review of the entrepreneurial process
    Ch 3 Timmons & Spinelli Handout

    Activity: Short presentation on your strengths (and weaknesses) and how these will be important to the team in developing a business plan
    2 Overview of the business plan and the business planning process

    Critique of a business plan

    Team formation
    Discussion of the business idea for this course
    Business Planning for Entrepreneurs (Lindsay, Craig and Geronimos 2009)

    Activity: Critique of the 2MBA business plan

    Activity: Critique of the 2MBA business plan presentation

    Activity: Class forms into teams to discuss project and member responsibilities
    3 The process forward for managing the project Activity: Presentation of A3 business plan critique

    Activity: Development of work plan and work on developing business plan
    4 Financial pro formas Examination Test

    Activity: Students present an overview of their business plan progress and discuss challenges encountered

    Activity: Work on developing plan
    5 Presenting your business plan Activity: Work on developing business plan

    Activity: Poster plan presentation in class

    Activity: Critique the two other reports (individually)

    Activity: Prepare questions for the two other teams (as a team)
    6 Presentations Activity: Oral presentation (each person in the team must present) with other students testing the depth of knowledge of the presenters via asking searching questions
    Small Group Discovery Experience
    This course offers opportunity to work in small teams to creatively identify and analyse a business opportunity.  

    It also requires team critique, whereby, you are asked to analyse and critique the work produced by other student groups.  Refer to assesment criteria for further details.
  • 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 In class Test 1 hour (see below) 25% seeMyUni 1,4
    2 Written Business Plan Three A3 page poster plan,
    4,500 words
    30% seeMyUni 2
    3 Oral Presentation of Business Plan 15 min presentation
    plus 10-15 Q&A
    15% seeMyUni 3
    4 Critique of two business plans 1000 words max 10% seeMyUni 1,2,3,4
    5 Reflective Learning Log 1000 words max 10% seeMyUni 1,2,3,4
    6 Class Participation Throughout course 10% Ongoing 1,2,3,4
    Total 100%
    Assessment Related Requirements
    Students should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.

    Course results are subject to moderation by the ECIC Board of Examiners
    Assessment Detail
    Assessment 1: In class Test
    Weighting: 25%
    Due Date: see MyUni
    Submission Details: In Class

    Task:
    On the evening of the first day of the second intensive, students will participate in a test to gauge their knowledge about the course to date. Questions will be answered in the booklet provided.

    Scope:
    Test will cover content from the opening intensive.

    Length and Presentation:
    A series of true/false, multiple choice, missing word, and short essay questions that relate to the course as well as some short essay questions. The duration of the test will be 1 hour.

    Criteria by which your assessment will be marked:
    students demonstrating an awareness, a clear understanding, and can correctly apply the underpinning concepts, frameworks, models, etc of the contemporary issues in entrepreneurship
    the level of originality and insight
    the usage of relevant local and/or international scenarios/studies to validate an argument
    evidence of wider reading and effective use of research data to support critical analysis and discussion of the issues and concepts raised
    clarity of expression and good use of language
    logical planning, structure, and sequence of presenting your findings
    overall presentation including correct grammar, spelling, and punctuation. 

    Assessment 2: Written Business Plan
    Weighting: 30%
    Due Dates: see MyUni
    Submission Details: Via Turnitin link in assessment tab of course homepage
    Task:
    Based on the business idea that the whole class will use, your team’s task is to develop a business plan using the poster plan template on three A3 sheets of paper. This format has been demonstrated to focus attention on key aspects of the plan, and reflects the needs of organisations to have a high level, yet comprehensive overview, of the key elements of such a plan. Use of a single idea will enhance the learning of the class. The idea for the course will be provided by the course lecturer at the beginning of the course.

    A specific template will be provided that each student must use. Each plan will be critiqued by other students.

    Sections covered in the poster plan include:
    Executive Summary
    The deal
    The business opportunity
    Target customer
    Product or service and its delivery
    The organisation
    Mission and vision statements
    Organisational objectives
    The team
    Business environment analysis
    Industry analysis
    Market analysis
    Target customer profile and behaviour
    Competitor analysis
    Venture capabilities
    SWOT Summary
    Objectives and strategies
    Set-up costs
    Sales forecasts
    Selling prices
    Production costs
    Positioning objective
    Growth strategy/ies
    Competitive strategy/ies
    Revenue model
    Physical distribution
    Marketing action plan
    Critical risks and problems
    Marketing plan financials
    Cash flow
    Market investigations (primary and secondary research)
    References

    Poster plan formatting details:
    You are free to adapt the layout, as long as it meets the content and format specification outlined on the template. In particular, this report must be submitted using Arial 10-point or Calibri 11-point typeface, single-spaced, not condensed, for the text. This format requirement is to ensure that reports can be easily compared and so that people prepare and present their plans under the same conditions.
    Your major challenge is to decide what to include and what not to include in this document. Remember that this document needs to have enough information in it to "tell a good story" and to reassure the reader that you have addressed the key points in your feasibility assessment.
    Although the template is suggested, you can use a maximum of three A3 pages for your plan (in this template, these pages are formatted with three columns). You do not need to keep to this three-column layout, as long as you have 10mm margins around the edges. The reason this template has three columns is because the financial tables fit neatly into the column width.

    Financial tables are to be completed using the Excel spreadsheet and then pasted into this document using Paste Special, Picture (Enhanced Metafile) so that they fit into the columns. You will first need to remove the tables in this template. You may need to adjust the size of your tables to fit the page. However, all tables must be easily legible.

    Scope:
    This assignment will assess your understanding of the Topics 1, 2, 3 and 4.

    Length and Presentation:
    Report of 4,500 words maximum using the A3 poster plan template.

    Criteria by which your assessment will be marked:
    demonstrate an awareness, a clear understanding, and can correctly apply the underpinning concepts, frameworks, models, etc of the contemporary issues in entrepreneurship
    the level of originality and insight
    the usage of relevant local and/or international scenarios/studies to validate an argument
    evidence of wider reading and effective use of research data to support critical analysis and discussion of the issues and concepts raised
    clarity of expression and good use of language
    logical planning, structure, and sequence of presenting your findings
    overall presentation including correct grammar, spelling, and punctuation,
    use of the Harvard referencing system, and
    use of resources in formulating your assignments including proper acknowledgment and appropriate use of references.

    Learning objectives with this assessment: 2

    Assessment 3: Oral Presentation of Business Plan
    Weighting: 15%
    Due Dates: see MyUni
    Submission Details: In Class

    Task:
    Each person in the team will be allocated a section of the report to present by the lecturer. Presentations should be professional and should enthuse. Do not get into undue detail in your presentations.

    Scope:
    This assignment will assess your understanding of Topic 3.

    Length and Presentation:
    15 minute oral presentation and 10-15 minute question session after the presentation. (Note: unduly lengthy presentations will be penalised.)

    Criteria by which your assessment will be marked:
    the ability to succinctly, professionally and enthusiastically present your business plan to the class
    students demonstrating an awareness, a clear understanding, and can correctly apply the underpinning concepts, frameworks, models, etc of the contemporary issues in entrepreneurship
    the level of originality and insight
    the usage of relevant local and/or international scenarios/studies to validate an argument
    evidence of wider reading and effective use of research data to support critical analysis and discussion of the issues and concepts raised
    clarity of expression and good use of language
    logical planning, structure, and sequence of presenting your presentation

    Assessment 4: Critique of two other reports
    Weighting: 10%
    Due Date: see MyUni
    Submission Details: Via Turnitin link in assessment tab of course homepage

    Task:
    Critically review three reports and evaluate them on the following basis:
    What are two strengths of the business plan?
    What are two areas of improvement of the business plan?
    How feasible are the financial details of the business plan?
    If you were an investor, what areas would you require additional information about?

    Feedback may be provided in dot point form, 400 words per critique (total maximum 1000 words). You will receive feedback from the course lecturer as well as from your peers.

    Scope:
    This assignment will assess your understanding of the Topics1, 3 and 4.


    Length and Presentation:
    400 words per critique, maximum of 1200 words
    Note that your critiques will be provided to the other teams to provide them with feedback, and you will receive critiques on your report.

    Criteria by which your assignment will be marked:
    Provide feedback on other people’s work in a manner that is respectful and polite
    Evidence of critical analysis of the reports in relation to the three areas of review
    Clarity of expression, good use of language
    Overall presentation, and correct grammar, spelling and punctuation

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


    Assessment 5: Reflective Learning Log
    Weighting: 10%
    Due Date: see MyUni
    Submission Details: Via Turnitin link in assessment tab of course homepage

    Task:
    You are to submit a reflective log during this course. The purpose is to reflect upon what you are learning as you develop your business plan with your team: What you have learned, what surprised you, what disappointed you, and any other insights that you gleaned from developing this business plan.

    Scope:
    The log will include your experiences in conducting primary market research to evaluate the feasibility of the business idea and identify the potential target market as well as development of the nbusiness plan. It will also include the presentation of your business plan, as well as the critique of two other business plans. You are to comment on what you believe your team did well, and what you would do differently in the future.

    Length and Presentation:
    Maximum 1,000 words

    Criteria by which your assessment will be marked:
    the ability to operate effectively within a new body of knowledge by addressing relevant areas covered in the course material and relating these to the issues at hand
    students demonstrating an awareness, a clear understanding, and can correctly apply the underpinning concepts, frameworks, models, etc of the contemporary issues in entrepreneurship
    the level of originality and insight
    clarity of expression and good use of language
    logical planning, structure, and sequence of presenting your thoughts
    overall presentation including correct grammar, spelling, and punctuation,
    use of the Harvard referencing system, and
    use of resources in formulating your assignments including proper acknowledgment and appropriate use of references.

    Learning objectives with this assessment (refer to section 2.1): 1-4

    Assessment 6: Class Participation
    Weighting: 10%
    Due Date: Participation during both course intensives
    Submission Details: n/a

    Task:
    Part of your assessment is based on your participation in the class activities and discussion during the two course intensives.

    You will receive a participation grade for your contribution and discussion during the first intensive (5%) by 9/10/12, and a participation grade for the second intensive (5%) for a combined total of 10%.

    Scope:
    This assignment will assess your understanding of all course topics.

    Length and Presentation:
    Participation in class activities and discussions.

    Criteria by which your assignment will be marked:
    Actively participate in the class activities
    Participate in class discussions in a manner that is respectful and polite
    Engage in the class topics and ask questions
    Comments indicate critical thinking, constructive feedback and meaningful inputs to the discussion
    Active participation in discussions requires adhering to the following ground rules:
    We will respect confidentiality
    We will share time equitably to ensure the participation of all
    We will keep an open mind and be open to learning
    We will not be disrespectful of others even if we do not share their views

    Submission
    All text based assignments must be submitted via Turn it in, within the course page accessible 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.

    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.
    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.

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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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