ENTREP 7028 - New Venture Strategy & Growth

North Terrace Campus - Trimester 2 - 2019

In this course we study the implications of managing the strategy for venture growth; relationship between the entrepreneur, new venture during the growth of the venture. 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 New Venture Strategy & Growth
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Trimester 2
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive. 36 - 40 hours
    Available for Study Abroad and Exchange Y
    Assumed Knowledge ENTREP 5016 (or ENTREP 5036) AND ENTREP 5018 (or ENTREP 5038)
    Course Description In this course we study the implications of managing the strategy for venture growth; relationship between the entrepreneur, new venture during the growth of the venture. 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
    Name:
    Manjula Dissanayake
    email: manjula.dissanayake@adelaide.edu.au
    Course Timetable

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

  • 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
    5
  • Learning Resources
    Required Resources

    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.
    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
    This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.
    Session Topic
    1 Introduction
    2 The entrepreneur and strategy
    3 The entrepreneur and growth of the firm
    4 Firm design and the Business Model
    5 Competitive Advantage
    6 Resource Based View
    7 Creating and Managing Value
    8 Wrap-up - Organising Strategic Value
    9 Strategic Growth and Building Intangible Resources
    10 Resource, Capability and Capacity Planning
    11 The Intellectual Capital Perspective
    12 Resource Deployment Principles
    13 Designing an IC Navigator
    14 Constructing an IC Navigator
    15 Discussion Topic
    16 Wrap-up and Review
    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 TypeLengthWeightLearning Outcomes
    1 The entrepreneur and the team Individual 1500 words 20% 1
    2 Internal analysis of growth firms Group 3500 words 30% 2 & 3
    3 Young Firm Growth Case Application Individual 3000 words 50% 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
    Weighting: 20%
    Task: “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.


    Assessment 2: Value analysis of growth firm – Team
    Weighting: 30%
    Task: Working in a team of no more than four, select one firm from a report provided on MyUni
    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.


    Assessment 3: Young Firm Growth Case Application – Individual
    Weighting: 50%
    Task: This assessment 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.

    Submission
    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 include in the assignment a 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:  An application for Assessment Extension 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 medical, compassionate or extenuating circumstances.
    • 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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