ENTREP 1006 - Opportunity Assessment
North Terrace Campus - Semester 2 - 2022
General Course Information
Course Code ENTREP 1006 Course Opportunity Assessment Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Incompatible ENTREP 2006, TECHCOMM 2006 Course Description What factors create a potential entrepreneurial opportunity? How do you assess the potential benefits and risks that underlie an opportunity? You will deconstruct a potential innovative idea and create your own evaluation process through use of a range of business tools to reconstruct it into a market opportunity. You will learn to identify changes in the external environment and to recognise trends/patterns that provide insights into correcting direction and continually improving a growing venture, or an established company. In developing a detailed feasibility plan you gain new perspectives in evaluating and enriching an innovative idea.
Course Coordinator: Dr Matthew McKinlay
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
On successful completion of this course, students will be able to:
1 Identify entrepreneurship theory and principles, especially in the context of assessment of new ventures as distinct to traditional business 2 Conduct detailed market research (primary and secondary) and become familiar with external and internal environmental scanning techniques 3 Articulate a new venture investment proposition and communicate ideas and concepts effectively 4 Build an assessment process for a new opportunity or venture to determine its viability and sustainability 5 Develop and use appropriate assessment frameworks for different new ventures and present these to fellow students and industry 6 Identify the areas of risk and ethical dilemmas in research commercialisation and/or in introducing new technologies or other innovations into a market
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)
Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
Attribute 5: Intercultural and ethical competency
Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.
Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
Required ResourcesText book:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2019). Entrepreneurship: Theory/Process/Practice, 5th Asia Pacific Edition. Cengage Learning. ISBN-13: 9780170411752
Recommended ResourcesA comprehensive list of readings will be available on MyUni
Students may also benefit by consulting the following text:
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.
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 LearningMyUni 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 ModesThis course is taught in a two hour lecture each week and one hour tutorial commencing in the second week of the semester. Content is offered in dual/blended learning mode with on-line supporting materials.
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).
Undertaking a comprehensive assessment of an opportunity is a time consuming process and in this course you are expected to ultimately demonstrate your capacity to satisfactorily reach a conclusion on whether a business idea or concept is truly an opportunity and make recommendations with respect to how to proceed to develop the idea. Each student can expect to devote in the vicinity of 10-15 hours per week throughout the semester to acquire and master the tools and concepts of this course.
Learning Activities Summary
This is a draft schedule of topics to be covered during the course delivery if necessary.
* Textbook: Frederick, O’Connor and Kuratko 2019
Topics from Recommended Textbook Course topics Readings*/Activities Introduction Textbook: Ch 1 Thinking entrepreneurially Textbook: Ch 2 Exploring opportunity concepts and pathways Textbook: Ch 4 and Ch 5 Design Thinking Textbook: Ch 6 Opportunities: Ethical and Social Textbook: Ch 3 Lean Entrepreneurship and Marketing Textbook: Ch 7 and Ch 8 Competitor Analysis Textbook: Ch 9 Business Planning Textbook: Ch 11 Regulatory Challenges and Financial Performance Textbook: Ch 10 and 12 Financing and Harvesting Textbook: Ch 13 and Ch 14
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Task Type Length Weighting Learning Outcome Opportunity Concept Development Group 600-800 words 15% 1, 2, 3 Market analysis Quick-screen framework assessment Individual Report max 2,000 words 30% 2, 3, 4 Risk identification assessment framework Individual 1,000 words 20% 5, 6 Feasibility study report presentation Individual 2,500 words + 10 slides
(video/audio) presentation of opportunity
35% 1 to 6
Assessment Related RequirementsStudents should attend all classes in order to pass the course. There is considerable experiential learning during classes that build your knowledge and thus enable you to be successful in this course.
Course results may be subject to moderation by the Assessment Review Committee.
Assessment DetailOpportunity Concept
This assessment comprises of a written activity that explores an opportunity concept. You are required to provide an overview of theopportunity concept providing details of the concept, the customer segments, and the perceived benefits of the concept to customers. A template is provided to guide your process.
Market analysis & Quick-screen opportunity assessment
This assessment comprises a written activity for participants to undertake market research, competitor analysis and an internal and external strategic environmental scan of the market in relation to the potential product and new potential opportunity they are seeking to assess. The aim of this assessment is to provide participants with an opportunity to investigate and identify potential market segments and whether the potential opportunity has competitive advantages and whether it is sufficiently attractive to exploit.
Risk Identification & Assessment framework
Entrepreneurship is about 'creating something where nothing currently exists'. In short, it is all about uncertainty or risk. This assessment aims to ensure that participants undertake a thorough risk identification and assessment of the potential opportunity. There is typically a range of risks associated with opportunity assessment and as such, entrepreneurs and intrapreneurs are encouraged to undertake a risk assessment of the conditions opportunity prior to developing it into a new venture. The results of a robust risk assessment provide entrepreneurs with an opportunity to develop appropriate risk responses to strategically reduce and manage risks.
Feasibility Study Report & Presentation
The final assessment provides participants with the opportunity to practically integrate their learning in the form of a final written
feasibility study report accompanied by a presentation. The feasibility study demonstrates skills of applied theory into practice and a template is provided to complete the assessment. Participants are also required to develop a presentation on assessment of the opportunity. In order to complete this, a slide deck of no more than 10 slides is required accompanied by a 5-minute audio or video presentation.
All text based assignments must be submitted via MyUni:
- Assignment Submission: Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both).
- Cover Sheet: Please include in the assignment a completed University of Adelaide Assessment Cover Sheet (found in MyUni, under Modules) 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.
- Assessment extensions request: An application for Assessment Extension should be made 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. See sections 3 and 7a) i. in particular on assessment extensions in the Modified Arrangements for Coursework Assessment (MACA) Policy.
- 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: of an assignment 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.
- Appealing a mark or grade: If you are dissatisfied with your mark or grade, you may request a review or re-mark. There must be academic or procedural reasons for your request, so you can’t simply request a re-mark because you are disappointed with your result. For more information on the process see Assessment Grievance: Appealing a mark or grade
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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