ENTREP 7028 - Managing Strategy & Growth

North Terrace Campus - Trimester 1 - 2017

In this course we study the relationship between the entrepreneur, new venture growth and strategy. It provides students with an overview of the internal dynamics involved in growing a new venture including the many aspects that must be considered to ensure the business operates smoothly and meets the needs of its customers while keeping a focus on growth strategy. Intellectual Capital and the Resource Based View are the two main frameworks utilised to examine the dynamic relationships. The course adopts a design approach for an entrepreneur or an advisor to identify key resources that maximise the value creating potential of a fledgling firm.

  • General Course Information
    Course Details
    Course Code ENTREP 7028
    Course Managing Strategy & Growth
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Trimester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36-40 hours
    Available for Study Abroad and Exchange
    Assumed Knowledge ENTREP 5016 & ENTREP 5018
    Course Description In this course we study the relationship between the entrepreneur, new venture growth and strategy. It provides students with an overview of the internal dynamics involved in growing a new venture including the many aspects that must be considered to ensure the business operates smoothly and meets the needs of its customers while keeping a focus on growth strategy. Intellectual Capital and the Resource Based View are the two main frameworks utilised to examine the dynamic relationships. The course adopts a design approach for an entrepreneur or an advisor to identify key resources that maximise the value creating potential of a fledgling firm.
    Course Staff

    Course Coordinator: Professor Paul Steffens

    Program Director Contact Details:
    Innovation and Entrepreneurship (PG)
    Name: Prof Paul Steffens
    Phone: +61 8 8313 7512
    Email: paul.steffens@adelaide.edu.au

    Teaching Staff
    Trimester 1
    Allan O'Connor
    Short Bio: Dr Allan O’Connor is Senior Lecturer at the Entrepreneurship, Commercialisation and Innovation Centre (ECIC) at the University of Adelaide. Combining experience with SME management, business start-up and consulting, that included product, market, industry, and innovation development, Allan’s teaching experience in entrepreneurship spans a period of fifteen years with particular interests in the assessment of business opportunities, entrepreneurial strategy and developing research skills. Since 2012 he has co-authored the leading Asia Pacific text book, 'Entrepreneurship: Theory, Process and Practice', with Professors Howard Frederick and Donald Kuratko.

    Dr O’Connor’s growing portfolio of more than fifty research publications includes internationally peer reviewed journal articles, book chapters, conference papers, and research reports that are testament to the significance of his research agenda and contribution to his research field. In application, his research is designed to inform educators, policy-makers, regional development agencies and the practicing entrepreneur with respect to creating and managing the resources necessary to foster and develop innovation and entrepreneurship. Allan has also been an invited speaker, visiting lecturer and mentor for programs and conferences in Australia, China, Japan and the United Kingdom.

    Course Timetable

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

    Opening intensive:
    Thursday 30th and Friday 31st March 2017
    9am to 6pm
    Napier, 210, Teaching Room

    Closing intensive:
    Thursday 27th and Friday 28th April 2017
    9am to 6pm
    Napier, 210, Teaching Room
  • Learning Outcomes
    Course Learning Outcomes

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

    1 Gain an understanding of the strategy process and the role of the entrepreneur in maintaining stakeholder value while navigating growth
    2 Conduct a value analysis of a firm to illustrate the relationship between the intellectual capital of an organisation and its value creating logic
    3 Utilise resource based strategy theory to articulate the tangible and intangible resources necessary for a feasible new venture to capture and sustain competitive advantage
    4 Assess the changes in intangible resources that will be required assuming the growth of a new venture and predict the changing role of the entrepreneur within the firm’s management structure
    5 Prepare a set of design principles for a new venture that will guide the growth, acquisition, recruitment and deployment of intellectual capital resources for sustaining a competitive advantage
    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, 3
    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
    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
    4, 5
    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
  • Learning Resources
    Required Resources

    The University’s preferred textbook supplier is Unibooks: http://www.unibooks.com.au/ 

    Text book:

    Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2016). Entrepreneurship: Theory, Process and Practice, 4th Edition. Cengage Learning.
    ISBN-13: 978-0-17-035255-0
    ISBN-10: 0-17-035255-2

    Supplemental Readings:

    Alvarez, S.A. and Barney, J.B. (2005) ‘How do entrepreneurs organise firms under conditions of uncertainty?’ Journal of Management, vol. 31, no. 5, pp. 776-793.

    Barney, Jay B., and William S. Hesterly (2010) Strategic Management and Competitive Advantage Concepts and Case, 3rd Edition, Pearson Prentice Hall, New

    Barron, J.N. & Hannan, M.T. (2002) ‘Organizational Blueprints for Success in High-Tech Start-ups: Lessons from the Stanford Project on Emerging Companies’, California Management Review, vol. 44, no. 3, pp. 8-36.

    Churchill, N.C. & Lewis, V.L. (1983) ‘The five stages of business growth’, Harvard Business Review, May-June, pp. 30-50.

    Greiner, L.E. (1972) ‘Evolution and revolution as organizations grow’, Harvard Business Review, July-August, pp. 37-46.

    Hunter, I. (2005) ‘Risk, persistence and focus: a life cycle of the entrepreneur’, Australian Economic History Review, vol 45, no. 3, pp. 244-272.

    Levie, J. & Lichtenstein, G.A. (2010) ‘A terminal Assessment of Stages Theory: Introducing a Dynamic States Approach to Entrepreneurship’, Entrepreneurship Theory and Practice, vol. 34, no. 2, pp. 317-350.

    Ma, H. (1999) ‘Creation and Preemption for Competitive Advantage’ Management Decision, vol. 37, no. 3, pp. 259-266.

    Martin, Roger L. 2010. 'The Execution Trap', Harvard Business Review, vol. 88, Iss. 7/8, pp. 64-71.

    McKaskill, T. (2007) Fast Forward Acquisition Strategies for Entrepreneurs, Wilkinson Publishing, Melbourne, Australia. Chapter 5: pp. 51-64.

    Mueller, S., Volery, T. & von Siemens, B. (2012) “What Do Entrepreneurs Actually Do? An Observational Study of Entrepreneurs’ Everyday Behavior in the Start-Up and Growth Stages”, Entrepreneurship Theory and Practice, September, pp. 995-1017.

    O’Connor, A. (2001) “Valuation of Technology Businesses‟, Commercialise 2001 Conference, October, Marysville, Australia.

    O’Connor A. & Yamin, S. (2011) ‘Innovation & Entrepreneurship: Managing the Paradox of Purpose in Business Model Innovation’, International Journal of Learning and Intellectual Capital, vol. 8, no. 3, pp. 239-255.

    Penrose, E. (1995) The Theory of the Growth of the Firm, Oxford University Press, New York, pp. 31-42.

    Peppard, J. & Rylander, A. (2001) ‘Using an Intellectual Capital Perspective to Design and Implement a Growth Strategy: The Case of Apion’, European Management Journal, vol. 19, no. 5, pp. 510-525.

    Sarasvathy, S.D. (2005) ‘What makes Entrepreneurs Entrepreneurial?’ Darden Business Publishing, Virginia, Social Science Research Network, UVA-ENT-0065, available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=909038&download=yes

    Stabell, C.B. & Fjeldstad, Ø.D. (1998) ‘Configuring Value for Competitive Advantage: On Chains, Shops and Networks’, Strategic Management Journal, vol. 19, pp. 413-437.

    Roos, G., Pike, S. & Fernstrom, L. (2005) Managing Intellectual Capital in Practice, Butterworth-Heinemann: Burlington, MA, USA. Jersey, USA. Chapter 3

    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.
    Day Topic Readings/Activities
    Intensive 1
    Day 1
    A. Introduction This course assumes knowledge from
    Frederick, O’Connor & Kuratko (2016)
    4th edition Chs 1, 2, 5, 6, 9, 10, 11
    B. The entrepreneur and strategy Mueller, S., Volery, T. & von Siemens, B. (2012)
    Martin (2010)
    C. The entrepreneur and growth of the firm Churchill & Lewis (1983)
    Greiner (1972)
    Hunter (2005)
    Levie & Lichtenstein (2010)
    Penrose (1995 [1959])
    Sarasvathy (2005)
    D. Firm design and the Business Model Handout
    Intensive 1
    Day 2
    E. Competitive Advantage Barney & Hesterly (2010) Ch 3
    F. Resource Based View Barney & Hesterly (2010) Ch 3
    Ma (1999)
    G. Creating and Managing Value Roos, Pike & Fernstrom (2005) Ch 3.
    Stabell & Fjeldstad (1998)
    H. Wrap-up - Organising Strategic Value Alvarez & Barney (2005)
    Barron & Hannon (2002)
    Intensive 2
    Day 3
    I. Strategic Growth and Building Intangible Resources O'Connor (2001)
    J. Resource, Capability and Capacity Planning Eisenhardt & Martin (2000)
    O’Connor & Yamin (2011)
    K. The Intellectual Capital Perspective Roos, Pike & Fernstrom (2005) Ch 3.
    Peppard & Rylander (2001)
    L. Resource Deployment Principles Roos, Pike & Fernstrom (2005) Ch 3.
    Intensive 2
    Day 4
    M. Designing an IC Navigator Roos, Pike & Fernstrom (2005) Ch 3.
    N. Constructing an IC Navigator Roos, Pike & Fernstrom (2005) Ch 3.
    O. Discussion Topic Guest
    P. Wrap-up and Review McKaskill (2007)
    Specific Course Requirements
    To successfully complete this course, candidates will need to demonstrate as a minimum:
    • A comprehensive understanding of how an entrepreneur affects and influences the growth of a firm.
    • A comprehensive understanding of resource based strategy and value creation in the context of a growing firm.
    • The ability to recognise growth resource needs and barriers for a new firm and provide options for an entrepreneur to realise new firm value creation pathways.
  • Assessment

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

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

    Assessment Summary
    An overview of the course assessment appears in the following Table. Details appear in the following section:
    #Assessment TaskTask TypeLengthWeightDue Date/WeekLearning Outcomes
    1 The entrepreneur and the team Individual 1500 words 20% Week 3 1
    2 Internal analysis of growth firms Group 3500 words 30% Week 6 2 & 3
    3 Young Firm Growth Case Application Individual 3000 words 50% Week 8 4 & 5
    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: The entrepreneur and strategy - Individual assessment item
    Weighting: 20%
    Submission Details: Online through MyUni

    “New firm growth is unpredictable. There is no order but only chaos. In this context entrepreneurs do not manage their firms but rather respond to challenges from either opportunities or obstacles.”

    This assignment requires you to critique the above statement and provide an argument that demonstrates your appreciation of the relationship between the entrepreneur and the context within which they work. You are required to use both academic and general media to support your argument with citations and examples. A better assignment will use course provided reference materials as well as references other than those provided.

    This assignment will assess your understanding of the course topics A to D.

    Length and Presentation:
    Presentation will be in an essay format which should convince your reader of the merits of your argument. The typical length will be up to a maximum 1,500 words.

    Criteria by which your assignment will be marked:
    The document should reflect academic standards worthy of a Master level student. The assignment will be assessed on the basis of:
    · Presentation and clarity of the aims of your work;
    · Complete and balanced view points,
    · A well-defined rationale that leads to your conclusion, and;
    · Justifiable research that supports your argument.

    The assignment will need to demonstrate appropriate use of references. (Use the Harvard referencing system. Guidelines can be found under the heading ‘Harvard author-date referencing style’ at http://libguides.adelaide.edu.au/content.php?pid=293787&sid=2477847).

    Assessment 2: Value analysis of growth firm – Team assessment item
    Weighting: 30%
    Submission Details: Online through MyUni.

    This assignment will require you to work in a team of no more than four and select one firm from the 2014 Australian Deloitte Technology Fast 50 report available at: https://www2.deloitte.com/au/en/pages/technology-media-and-telecommunications/articles/deloitte-technology-fast-50-winners.html

    No two teams will select the same company. Each team will submit their chosen case by the conclusion of intensive 1 for approval by the lecturer.

    The team will need to use the tools and techniques discussed in this course to analyse their chosen business and the respective competitive environment to provide:

    1. A background and overview of the business and the competitive environment

    2. A reasoned determination of the customer value creating logic of the firm

    3. An assessment of the critical resources and capabilities that provide a competitive advantage

    4. A report that characterises the extent to which these resources are defensible in each firms competitive environment

    5. An analysis that explains the extent to which the competitive advantage underpins the growth of the firm

    6. A discussion that synthesises the analysis and concludes how your chosen firm’s industry and competitive environment relates to or influences business model design for competitive advantage.

    You will be further required to use your findings and knowledge of the case for the second day of the second intensive workshop. The workshop material is not part of assignment 2 but will be a practice case for your assignment 3.

    This assignment will assess your understanding of the course topics D to H.

    Length and Presentation:
    Presentation will be in report format. The typical length will be a maximum of 3500 words plus appendices as deemed necessary.

    Criteria by which your assignment will be marked:
    · The level of detail provided that demonstrates understanding of the key issues and techniques involved in analysing a firm’s value logic and competitive position.
    · Evidence of critical analysis of the issues and concepts.
    · Demonstration of an understanding of; the relative importance of resources and capabilities, how these resources and capabilities relate to the firm’s business model and the extent to which they contribute to competitive advantage.
    · Clarity of expression and good use of language.
    · Logical planning, structure and sequence of presenting your findings.
    · Overall presentation including correct grammar, spelling, punctuation and referencing.

    Assessment 3: Young Firm Growth Case Application – Individual assessment item.
    Weighting: 50%
    Submission Details: Online through MyUni

    This assessment item is an individual assignment that focuses on the application of the strategic design tools. Complemented by your own research, you are required to consider a growth venture proposition using, as a minimum, the competitive advantage, business model, intellectual capital, and resource based strategy tools and perspectives covered in this course. You are not permitted to use the same firm as your team case study.

    Your chosen case will be a young firm; a start-up or new firm of not more than 3 years old. Alternatively it could be a new division or a new spin-out firm from a corporate or university providing it is creating a new market position not previously held. Analysis of established firms (more than three years old) that do not have a new market position intent will not be permissible cases. If in doubt about your case, check with your lecturer.

    You are required to:
    § Describe the venture detailing its background and core business.
    § Define a startegic intent and the customer value logic (chain, shop or network) for the venture.
    § Using resource based theory, assess and recommend the potential competitive advantage of the venture.
    § Design and document the intellectual capital resources required to ground the competitive advantage for the growth of the venture.
    § Articulate the intellectual capital resources and capabilities currently available to the venture and those that are yet to be acquired (a gap analysis) detailing short term strategies of capability and/or resource acquisition. Use the IC Navigator and Effector plot for your analysis.
    § Propose a long term resource based strategy for the venture describing the growth of core assets that will be critical for the venture to maintain a unique competitive position and competitive advantage. Be specific about the action steps for the firm.
    § Develop a set of principles that will guide the entrepreneur in managing the acquisition and growth of key intellectual capital resources to form the basis of a three year plan.

    This assignment will assess your understanding of the course topics I to P.

    Length and Presentation:
    Presentation will be in report format. The typical length will be a maximum of 3000 words plus appendices as deemed necessary.

    Criteria by which your assignment will be marked:
    The report will be judged on its structure, presentation, content, integration and synthesis of course materials. Please note that the academic assessment can only make judgement on the educational validity and not the actual business or project strategy. The mark will reflect your learning and will not be an indicator of the merit of the strategy.
    The standards by which the assignment will be assessed include:
    · The level of detail provided that demonstrates understanding of the techniques involved in examining a young firm’s value logic, competitive advantage, competitive value position and resource transformations.
    · Demonstration of an understanding of; the relative importance of resource stocks, how these stocks relate to the firm’s competitive position and the extent to which they contribute to competitive advantage.
    · Evidence of critical analysis of the issues and concepts.
    · Clear articulation of a set of guiding principles for the entrepreneur that support the development of the proposed competitive position and advantage.
    · The extent to which the entrepreneur’s strategy has integrity and legitimacy with the proposed strategic position and advantage.
    · Overall presentation including, clarity of expression and good use of language, correct grammar, spelling, punctuation and referencing, logical structure and sequence of presenting your findings.

    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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    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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  • Policies & Guidelines
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