ENTREP 2005 - Entrepreneurial Strategy and Resourcing

North Terrace Campus - Semester 2 - 2017

The strategy concept; Strategic decision making; Forming and formulating strategy; Organisational structure; The entrepreneurial strategic context; The innovative strategic concept; Managing change; Debt and equity financing as strategic decisions; The forms and sources of non-financial resources.

  • General Course Information
    Course Details
    Course Code ENTREP 2005
    Course Entrepreneurial Strategy and Resourcing
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36 to 40 hours
    Available for Study Abroad and Exchange Y
    Course Description The strategy concept; Strategic decision making; Forming and formulating strategy; Organisational structure; The entrepreneurial strategic context; The innovative strategic concept; Managing change; Debt and equity financing as strategic decisions; The forms and sources of non-financial resources.
    Course Staff

    Course Coordinator: Dr Gary Hancock

    Program Director Contact Details:
    Innovation and Entrepreneurship
    Name: Dr Gary Hancock
    Email: gary.hancock@adelaide.edu.au
    Phone: +61 8 8313 0125

    Teaching Staff

    Semester 2
    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 forleading 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.

    Course Timetable

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

    Opening intensive:
    Wednesday 9th, Thursday 10th and Friday 11th August 2017
    Marjoribanks, 126, SANTOS Lecture Theatre

    Closing intensive:

    Wednesday 4th, Thursday 5th and Friday 6th October 2017
    9am- 6pm
    Marjoribanks, 126, SANTOS Lecture Theatre

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1 Analyse a range of strategic tools and resources for entrepreneurship;
    2 Examine the range and benefits of resource acquisition;
    3 Interpret the entrepreneurial model for careers;
    4 Differentiate the types of strategies depending on the context, in particular the innovative and entrepreneurial contexts;
    5 Articulate the concepts of strategy, and formulation of strategy in the innovative and entrepreneurial contexts;
    6 Identify strategic resources and ascertain the most appropriate means of accessing the resources needed.
    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, 2, 4, 5, 6
    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, 4, 5, 6
    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
    1, 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
    1, 2, 3, 4, 5, 6
    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
    3, 4, 5, 6
    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
    3, 5, 6
  • Learning Resources
    Required Resources
    No required text book.
    Recommended Resources

    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. Access to 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.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is offered in blended learning mode with the face-to-face component offered as intensives.

    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

    This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

    Intensive day
    Content Activities
    Opening Intensive
    1                 Setting the foundations:
    · What is strategy
    · Personal versus business strategy
    · Types of resources
    · Relationship between strategy and resources
    • Write your “About Me” entry in the discussion board on MyUni.
    • Subscribe to SmartCompany (it’s free) and read the article “The Top 10 Start-up Vows”
    • Read “The questions every entrepreneur must answer” (Bhide, 1996) and come to class ready to discuss what it means to you.
    2 Getting the timing right:
    · Product life cycle and window of opportunity
    · Environmental analysis (PEST)
    · Identifying gaps in markets
    · Read “Creating new market space”
    (Kim & Mauborgne, 1999)
    Developing a market entry strategy:
    · What business are you in?
    · Identifying competitors and substitutes
    · Porter’s “Five Forces” analysis
    · Read “The five competitive forces that shape strategy” (Porter, 2008)
    3 Risk and reward in innovation:
    · Incremental versus radical innovation
    · Sources of risk and reward
    · Assessing innovation risk for existing businesses
    · Read “Is it real? Can we win? Is it worth doing? (Day, 2007)
    Resources to execute strategy:
    · Identifying resource needs
    · Sources of resources
    · Mapping your networks
    · Using networks
    · Review (skim) “Entrepreneurial embeddedness and innovativeness in the start-up process” (Klyver, 2008)
    · Finalise teams for team assignment
    Closing Intensive
    4 Matching strategy and resources:
    · SWOT/TOWS analysis
    · Articulating your strategy
    · Read “Can you say what your strategy is?” (Collis &Rukstad, 2008)
    · Overview of SWOT/TOWS analysis (link on MyUni)
    Background reading:
    · “The TOWS matrix: a tool for situational analysis” (Weihrich, 1982)
    5 Where is the value?
    · Mapping the value chain
    · Identifying the greatest value add
    · Value configurations
    · Developing the business model
    · Read “Why business models matter” (Magretta, 2002)
    Background reading:
    · “Configuring value for competitive advantage” (Stabell&Fjeldstad, 1998)
    Human resources:
    · The founding team
    · Dividing ownership
    · Employees, contractors and outsourcing
    · Professional and informal advisors
    · Read “Building the founding team” (Bygrave&Zacharakis, 2008, Entrepreneurship, Chapter 6)
    6 Bootstrapping:
    · What resources do you really need?
    · Minimising resource needs
    · Maximising cash flow
    · Getting resources without cash
    · Read “Bootstrap finance: the art of start-ups” (Bhide, 1992)
    Debt and equity finance:
    · Differences between debt and equity
    · Raising debt finance
    · Principles of equity finance
    · “How Venture Capital Works” (Zider, 1998)
  • 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:

    #AssessmentLengthWeightingLearning Outcomes
    1 Individual assignment: personal resource networks 1500 words 30% 1,2
    2 Team project report: entrepreneurial strategy and resource plan 5000 words 30% 1-6
    3 Individual exam: case study report 3 hour exam 30% 1,4,5,6
    4 Class participation 10% 5
    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: Individual assignment - leveraging personal networks to acquire resources
    Weighting: 30%
    Due Date: see MyUni
    Submission Details: Online through My Uni

    The overall task is to use your personal networks to access resources for an entrepreneurial business idea of your own. There are two components to this task:

    Map your personal networks in the form of a mind map. Mind-mapping will be discussed in class. Hand-drawn mind-maps are acceptable, but there are numerous mind-mapping software products, some of them available as freeware, which you should consider using. This component of the assignment should be completed before the second intensive study session commences. Bring a copy of your mind-map to the first class.

    Choose a new business idea you are interested in investigating and see how many resources you can identify for this idea through your personal networks. You may wish to set up social networking sites, such as Facebook or Myspace to focus these networks. Aim to identify as many potential resources as possible that can be obtained without involving any financial payment – without, of course, acting illegally or unethically!

    Your written assignment should report on the results of your project, identifying what resources were initially identified as required, what resources you were able to obtain through your networks, the anticipated costs, and which networks proved the most valuable in finding resources.

    This assignment will assess your understanding of the course topics of: personal networks; leveraging networks; and bootstrapping new ventures.

    Length and Presentation:
    Approximately 1500 words covering the following:
    1. A brief outline of your new business idea
    2. What resources you initially believed this idea would require, together with a very rough estimate of their cost.
    3. How you went about seeking resources using your personal networks and the results obtained. Include an explanation of how you decided which networks to use and how you chose to go about seeking resources through these networks.
    4. Compare your initial resource list and estimated cost with the available resources you were able to identify through your networks and reflect on the outcomes. Was it harder or easier to find resources than you expected? Was the cost higher or lower than you expected? Which networks and techniques worked best? Did these results surprise you? What would you do differently next time?
    5. A copy of your personal network mind-map as an attachment (not part of the word limit)
    The bulk of your report should be spent on items 3 and 4.

    Criteria by which your assignment will be marked:
    Detailed marking criteria will be supplied on the MyUni site prior to the second intensive study period.
    • Completion of a mind-map of personal networks. This is a hurdle requirement. The mind-map itself is not graded, but it must be completed in order to pass this assignment.
    • Clear explanation of the original business idea and overview of the resources required and rough costs. Ability to communicate a business idea clearly is crucial to attracting resources.
    • Identification of a wide range of personal networks, including any new ones established during the period of the assignment.
    • Evidence of a proactive approach to using networks to find resources.
    • Clear story of how networks were used to seek resources, including reasons for prioritising particular networks or not using others.
    • Depth of reflection on the experience and what was learned from it.
    • Bonus marks may be awarded for success in attracting genuine resources for a genuine new business venture.

    Assessment 2: Team Strategy and Resourcing Report
    Weighting: 30%
    Due Date: see MyUni
    Submission Details: Online through My Uni

    Working in a team of 3 to 5 people (4 is the recommended number), select an idea for a new business based on an identified market need. This may be based on a real business you are thinking of starting, or even running at the moment. It may also be based on a new business opportunity for a company you work for. If it is for an existing business, you should take into account the resources available to the business, as well as to the members of the student team.

    Using the strategic analysis techniques taught in this course, analyse the business idea and identify possible strategies for launching it as a new venture (or new business unit within an existing company). Briefly explain each potential strategy and outline the main resources it would require.

    Using the techniques covered in this course for resource acquisition, identify the resources available to your team, including those that can be acquired for payment, and examine their fit with the identified strategies for launching the venture.

    Match strategy and resources to develop a business model for launching the new venture. Explain this business model, clearly identifying the strategic approach and the reasons for selecting it. Clearly identify the main resources required and how you would go about obtaining them, including costs involved. You do not need to develop a plan to launch the business.

    This assignment will assess your understanding of the relationship between strategy and resources. It will test your understanding of the strategic analysis techniques covered in the course, and your ability to apply them to a real life business idea, where knowledge is always incomplete and reasonable assumptions must be made. It will allow you to explore the resourcing constraints and opportunities in launching a new venture and embed your understanding of the value of personal networks.

    Length and Presentation:
    Approximately 5000 words explaining the strategy your team has developed for launching your business idea and the resources that will be required and why you selected this strategy. If you have been unable to develop a strategy you believe would be successful, then you should explain why you believe it is not possible to make this business idea into a profitable business and whether it would be possible for a different team / company to do so.

    1. The Idea: Brief explanation of the original business idea and the market need it addresses
    2. The Market Dynamics: What market does this business idea belong in? [Who else competes to meet this need?] What strategies for market entry have you identified? Analyse potential markets using Porter’s Five Forces, PEST and Product Life Cycle. What are the most significant obstacles and threats? Where are the most profitable opportunities?
    3. Resource Needs and Availability: What skills and resources are available to the team (or company)? What resources can they obtain through personal networks or on the open market?
    4. Strategy and Resource Fit: Assess the fit between the strategies and resources using a SWOT/TOWS analysis. Which strategy requires least resources for most reward? Select the most promising strategy and explain why it was chosen. Identify any significant assumptions you have made and explain why you believe they are justified.
    5. Business Model: Map the supply chain for the business, identifying all significant suppliers, customers and distribution channels (for example, don’t include minor suppliers such as telephone or electricity). Explain how your business model makes sense in that a) there is a value-add for every significant component of the supply chain and that b) the model will allow you to make a profit. Again, identify and justify any significant assumptions. [If you are unable to identify a business model that makes sense, explain the fatal flaw that prevents it from working]
    6. Conclusion: Having analysed the strategies and resources to bring your team’s business idea to market, do you believe it makes strategic sense to pursue it? Would it be profitable enough to be worth the effort involved? If you fail to develop a business model that makes sense [item 5 above], assess whether some other team or company, with access to different resources could make it work, or whether the idea contains some fundamental flaw that prevent it succeeding (e.g. too small a market, legal problems). Explain your conclusion.

    Criteria by which your assignment will be marked:
    Detailed marking criteria will be supplied on the MyUni site prior to the second intensive study period.
    • Clear explanation of the original business idea and the market need it meets. Ability to communicate a business idea clearly is crucial to developing a realistic strategy and attracting resources.
    • Clear identification of potential markets and the buyers, suppliers, competitors, potential competitors and substitutes in that market (elements of the Porter 5 Forces analysis). Understanding what market your idea belongs in and who else operates in that market is crucial to developing strategies.
    • Demonstrated understanding of what questions the analysis tools can help to answer.
    • Demonstrated ability to use analysis tools correctly and to interpret the results.
    • Development of a business model that makes sense based on analysis of strategy and resources, OR
    • Explanation of why it is not possible to develop a business model that makes sense and what conditions would need to change in order to be able to do so.

    Assessment 3: Individual exam – case study
    Weighting: 40%
    Due Date: see MyUni
    Submission Details: In class

    At the commencement of the exam, you will be given a case study on a real business to read, analyse and report on. You are permitted to bring text books, notes and articles with you to the exam.

    You have three hours to complete the exam, including the time to read the case study. You are advised to spend no more than 30 minutes reading the case study.

    The exam will be a written report on the case addressing specific questions in the exam paper concerning strategy and resourcing. You will be asked to analyse the case using specific techniques taught in the course and to draw conclusions from your analysis. Worksheets will be provided, where relevant.

    You are not expected to do any additional research beyond the data presented in the case study, however you may find it useful to refer to articles that have been covered in the course.

    This assignment will assess your understanding of the course topics and your ability to apply them to a real business situation, working alone.

    Length and Presentation:
    Three hour exam

    Criteria by which your assignment will be marked:
    Criteria will be specific to each element of the exam paper, but in general, the criteria used to assess exam work are:
    • Ability to apply analysis techniques using data from the case study
    • Ability to interpret analysis and draw reasonable conclusions regarding strategy, resources and fit between the two.
    • Ability to use conclusions of analysis to develop recommendations on strategy and resourcing, based on the facts presented in the case.
    All text based assignments must be submitted via MyUni.
    Please refer to step by step instructions: MyUni Learning Centre

    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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