MANAGEMT 7000 - Entrepreneurship

North Terrace Campus - Summer - 2020

Entrepreneurship is increasingly recognised as an important driving force in the economic development and prosperity of a community. While broader issues of entrepreneurship are covered, the course focuses on entrepreneurship in new venture creation, identifying opportunities, business planning for a new venture, obtaining venture capital, growth, technological innovation, harvesting wealth and coping with failure and bankruptcy.

  • General Course Information
    Course Details
    Course Code MANAGEMT 7000
    Course Entrepreneurship
    Coordinating Unit Business School
    Term Summer
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 36 hours per week
    Available for Study Abroad and Exchange
    Prerequisites MANAGEMT 7100 & MANAGEMT 7104
    Course Description Entrepreneurship is increasingly recognised as an important driving force in the economic development and prosperity of a community. While broader issues of entrepreneurship are covered, the course focuses on entrepreneurship in new venture creation, identifying opportunities, business planning for a new venture, obtaining venture capital, growth, technological innovation, harvesting wealth and coping with failure and bankruptcy.
    Course Staff

    Course Coordinator: Anton Jordaan

    Email: anton.jordaan@adelaide.edu.au

    Anton Jordaan was originally trained as an accountant and tax specialist. Five years after setting up an accounting and tax consultancy, he sold his interest to his partners and set out to establish, grow and harvest a number of business ventures in the private education and training sector. In subsequent years, one of his businesses was acquired by a stock exchange listed company; and a few years later his business was involved in an initial public offering (IPO). Following the IPO he served as a founding director of the newly listed stock exchange listed company for a period of 2 years. He has been involved as lead-entrepreneur in a number of startups and has an in
    depth understanding of entrepreneurial leadership, challenges of start-up teams,and the new venture mindset.

    In addition to corporate strategy, leadership, and financial roles, Anton has maintained an active interest in education and training, and has 25+ years teaching experience in the delivery of education and training courses to postgraduate students and managers in public sector and private sector organisations. He has delivered business improvement and capacity building courses in North America, UK, Europe, Middle East, Africa, Asia and Australia. Courses presented include Strategic Management, Project Management, Innovation, Entrepreneurship, Leadership, Risk Management, and Accounting.  

    After attaining a Bachelor of Commerce degree in Accounting, he completed a BCom Honours in Accounting, Master of Commerce in Business Management, a MBA, and a Master of Advanced Business Practice degrees. He completed a PhD at The University of Adelaide and is currently Adjunct Associate Professor at The University of Adelaide’s Entrepreneurship Centre for Innovation and Commercialisation (ECIC) and is a member of CPA Australia.

    Course Timetable

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


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

    Workshop
    Topic / Activity Assessment item
    1 What is entrepreneurship?
    Recognising opportunities           
                       
    2 Developing opportunities
    Assessing opportunities - develop a venture concept statement                                     
    3 Lean Start-up principles
    Pitching the venture idea
    4 Business model development
    Business plan development
    (i) Assignment 1: Pitch new venture idea to class @ 9am
    (ii) Assignment 2: Submit after pitch
    5 Financing the venture
    Growth and Exit strategies
    6 Business Plan assessment (i) Assignment 3: Submit @ 9am.
    (ii) Assignment 4: Business plan assessment activity (in class)                              

    Session topics as listed are indicative only, and workshop discussions will be directed by the course facilitator.

  • Learning Outcomes
    Course Learning Outcomes
    This course is designed to sharpen your ability to:
        
    1.   Determine if you could (or should) become involved in a business startup
    2.   Recognize and analyse new venture opportunities
    3.   Anticipate startup challenges so they can be planned for and managed
    4.   Understand different sources of new venture funding
    5.   Pitch a new idea
    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)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1 to 5
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    2,3,4
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    2,3,5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    2,3,4
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    1,2,3
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    2,3,5
  • Learning Resources
    Required Resources
    The textbook for this course is The Lean Startup, by Eric Ries (Crown Business, 2011).

    There are further required readings and cases which will be listed in MyUni.
    Recommended Resources
    See Myuni for specific details
  • Learning & Teaching Activities
    Learning & Teaching Modes
    The course uses a mixture of readings, experiential exercises, cases and in-class discussions and presentations.
    Workload

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

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

    The course is delivered over 6 days (9:00 a.m. – 3:30 p.m.) sessions. You can expect to spend 5 hours preparing for each class, and
    additional time working on assignments. As a rough indication, you could expect to spend in the order of 120 hours of study time to complete the course, including time spent in class and assignments.

    Learning Activities Summary
    Details can be found on MyUni.
  • 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
    Assessment Item  Weighting  Individual / Team  Learning objective 
    1. Pitching the idea/concept  10% Individual 1,5
    2. Venture concept analysis 20% Individual 1,2,5
    3. Anatomy of a start-up 30% Team 2,3
    4. Business plan assessment 30% Individual 2,3,4
    5. Workshop participation 10% Individual 2,3,5
    Assessment Detail
    Assessment 1: Pitch venture idea/concept (10%, individual)

    Early in the course we’ll work on generating and screening venture concepts. Good venture opportunities don’t just happen, they emerge from an iterative process of recognition, research, reflection and refinement. In order for you to understand this process better, each of you should start a venture concept diary, keeping track of your ideas for new ventures. It will probably contain a mix of ideas that you’ve rejected, ideas that you’ve explored a little and are ambiguous about, and ideas that you think might be viable.

    In recording and evaluating your ideas,the screening criteria that you’re implicitly using will emerge. It is useful to write these down. You are likely to reject many of your ideas very quickly, and so the description of these ideas will be brief. You should spend more time exploring the ideas that pass your (perhaps unconscious) screening criteria.

    At the start of day 4 each student will pitch their best idea to the class.

    Due date: 15 January (a.m. class). Length of pitch: 3 minutes max, followed by 5-10 minutes of Q&A from class.

    Assessment 2: Venture Concept Analysis (20%, individual)

    All new ventures are characterised by uncertainty and successful entrepreneurs are able to identify and manage the uncertainties of
    particular venture concepts. In order to understand this process better, each student will provide a written analysis of the promising
    venture concept that you pitch.

    I recognise that your ideas will be very early-stage and tentative at this point, which is a typical characteristic of this stage of the entrepreneurial process. Nevertheless, expressing your ideas in as concrete a manner as possible will enable you to test them more
    thoroughly. Your analysis should draw on material discussed in the first three days of the workshop and should be structured into two parts:

    (i)  A description of the opportunity.  Provide a description of the opportunity, in terms of the product, service, or experience offered, the target market and your value proposition. Summarise what you know now about its technical, market and financial viability and feasibility for you to pursue as a venture. Identify key uncertainties and hypotheses you would need to confirm; and
      
    (ii) An analysis of the uncertainties associated with the opportunity. Identify the two hypotheses about your venture concept that are most critical to test. For each, explain why it is important and describe how you could “test early, test cheaply.”

    Due date: 15 January (a.m. class). I will allow approx one hour after the pitches conclude to revise your analysis if you choose to do so (based on the Q&A feedback from the class following your pitch). Word limit: 1500 words. Exceeding a word limit will attract a mark penalty.

    Assessment 3: Anatomy of a Startup (30%, team)

    The purpose of this assignment is to give you the opportunity to identify and select a business that interests you in order to conduct an in-depth study of how a business dealt with the opportunities and challenges in its early years.

    There are several guidelines to keep in mind when selecting a business to study:   
    ·  The venture must have been founded in 2012 or later and is still operating.   
    ·  The founder/s is not a relative, employer or co-worker (past or present).   
    ·  You can obtain relevant information about the early years of the venture from multiple sources (e.g. books, articles, the company’s
    website and/or interviews). If you're having trouble finding an interesting Australia startup, check out the following: LinkedIn Top Start-ups 2019 - the 25 Hottest Australian Companies to Work For, and Is Australia the next upcoming startup hotspot?

    Your report should describe and assess:   
    ·  The early opportunities recognised by the venture’s founding team (and how the founding team came together); 
    ·  How the team exploited the opportunities in terms of the value proposition, execution and risk management;   
    ·  The key challenges faced by the venture at various stages and how they were overcome;   
    ·  The venture’s opportunities and challenges in the next 1-2 years and how they might be met;   
    ·  What you learned from studying this venture.

    Your grade will be determined on the basis of the richness of your analysis,and insights about the venture. My assessment of this will be partially influenced by the clarity of the report itself (i.e. how well it is organised and written) and on the quality of the reference material you draw upon.

    Due date: 17 January (a.m. class). Word limit: 2500 words. Exceeding a word limit will attract a mark penalty.

    Assessment 4: Business Plan Assessment (30%, individual)

    One of the hallmarks of a successful entrepreneur is the ability to analyse the potential of new ventures. The purpose of this assignment is to allow you to demonstrate your skills in this area. On the last afternoon of the course, we will watch a video of an entrepreneurial team presenting their business plan to a group of investors. After watching the recording, you will provide a written assessment of the business and the business plan. Specific questions will be provided and all work on this assignment will be done during class time. More information about this assignment will be provided in class.

    Due date: 17 January (p.m. class). Length of writing time: 2 hours

    Assessment 5: Class Contribution (10%, individual)

    Your class contribution grade for this course will be based on your contribution to a positive learning environment. If you are not attending the workshops, you can’t contribute, and so regular attendance is a component of this. Please let me know beforehand if you need to miss a class. Your class contribution grade includes participation in class discussions and activities, insights shared about your own experiences and observations, readings and cases, and any assigned work that doesn’t have a specific grade attached to it. Class contribution each day is assessed on the basis of the extent to which your contribution is relevant, insightful, informative and informed. Merely repeating facts or stating the obvious will not contribute to your class contribution grade.

    Due date: Throughout workshop sessions
    Submission
    A1: The Venture Idea/Concept Pitch is an oral presentation during class time on the January 15.

    A2: The Venture Concept Analysis should be submitted on paper up to an hour after the last pitch ends on January 15.

    A3: The Anatomy of a Startup assignment should be submitted before the beginning of the morning class on January 17.

    A4: The Business Plan Assessment can be (a) written on paper and submitted during class time; or (b) written on a laptop and then emailed to the facilitator on January 17 (afternoon). If a laptop is used, students are not permitted to access the internet.

    Presentation of assignments:
    - Make sure you include your name(s) in a footer on each page of your paper assignments.
    ·  Please must retain a copy of all assignments submitted.   
    ·  Please attach an ‘Assignment Cover Sheet’, which is signed and dated by you before submission
    ·  All group assignments must be attached to a ‘Group Assignment Cover Sheet’, which must be signed and dated by all group members before submission. All team members are expected to contribute approximately equally to a group assignment.

    Assignment Guidelines including Referencing Details - A copy of the Postgraduate Programs: Communication Skills Guide will have been given to you at the beginning of your program. This guide will assist you structure your assignments. A copy of the guide can also be downloaded from http://www.adelaide.edu.au/professions/hub/downloads/MBA-Communication-Skills-Guide.pdf  This publication also provides guidelines on a range of other important communication skills including writing essays and management reports, making oral presentations etc. In preparing any written piece of assessment for your postgraduate studies it is important to draw on the relevant ‘literature’ to support critical analysis. Also essential is to reference the literature used. Correct referencing is important because it identifies the source of the ideas and arguments that you present, and sometimes the source of the actual words you use, and helps to avoid the problem of plagiarism. (Further information on plagiarism is provided later in this course outline.)

    The Harvard system is widely used in the Business School. Guidelines for the use of this style of referencing can be found in the Communication Skills Guide. Further assistance with referencing is available from the Faculty’s Learning Support Advisors. The contact details are provided on page 6 of the Communication Skills Guide.
    Late Assignment Submission: Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by a 5% mark reduction for each day that it is late.
    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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