ENTREP 1006 - Opportunity Assessment

North Terrace Campus - Summer - 2018

This course provides material to understand the potential benefits and risks that underlie an opportunity. You will deconstruct a potential innovative idea and create your own evaluation process through using a range of business tools to rebuild 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 established company. This course will develop new perspectives and evaluate and enrich innovative ideas through compiling a detailed feasibility plan.

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Course Details

Course Code	ENTREP 1006
Course	Opportunity Assessment
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Summer
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Intensive: 36 to 40 hours
Available for Study Abroad and Exchange	Y
Incompatible	ENTREP 2006, TECHCOMM 2006
Assessment	Individual and group assignments, exam

Course Staff

Course Coordinator: Dr Gary Hancock

Program Director Contact Details: Innovation and Entrepreneurship
Name: Dr Wendy Lindsay
Email: wendy.lindsay@adelaide.edu.au

Teaching Staff

Summer School
Name: Dr Hermina Burnett
Email: hermina.burnett@adelaide.edu.au

Semester 2
Name: Rajeev Kamineni
Email: rajeev.kamineni@adelaide.edu.au

Course Timetable

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)
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	1-6
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	3-6
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

Text book:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2016). Entrepreneurship: Theory, Process and Practice, 4th Edition. Cengage Learning. ISBN-13: 9780170352550

Recommended Resources

A 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.

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 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).

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 that may change during the course delivery if necessary.

Schedule
Session	Topic	Readings*/Activities
1	Introduction	Textbook: Ch 1
2	Thinking entrepreneurially	Textbook: Ch 2
3	Exploring opportunity concepts	Textbook: Ch 6
4	Right time, right place?	Textbook: Ch 5
5	Entrepreneurship within organisations	Textbook: Ch 8
6	Identifying the customer	Textbook: Ch 10
7	Industry and market dynamics	Textbook: Ch 9
8	Competitor analysis	Textbook: Ch 11
9	Concept presentations	Assignment 1 Oral
	Review & Discussion throughout the days
10	Sustaining new ventures	Textbook: Ch 12
11	Regulatory Challenges	Textbook: Ch 13
	Exercises and examples throughout the days
12	The entrepreneur and the team	Textbook: Ch 2
13	Assessing strategy	Textbook: Ch 11
14	Resilience & managing risk	Textbook: Ch 11
15	Financial analysis for opportunity assessment	Textbook: Ch 14 & 15
16	Wrap up, review	In-class Exam

* Textbook: Frederick, O’Connor and Kuratko 2016

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 Summary

An overview of the course assessment appears in the following Table. Details appear in the following section:

#	Assessment Task	Task Type	Length	Weighting	Learning Outcomes
1	Opportunity Concept Proposal (Concept proposal and Executive Summary)	Individual	2 minute oral proposal 1000 word Executive Summary	15% (5% Oral presentation & 10% Executive summary)	1, 2
2	Opportunity Assessment Framework	Group	Report max 3500 words	25%	1, 3, 4
3	Exam	Individual	2 hour	30%	3, 4, 5
4	Opportunity Assessment	Individual	Max 2500 words	30%	4, 5, 6
	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: An Opportunity Concept (Individual)
Weighting: 15% (5% Oral Proposal and 10% Executive Summary)
Task:
This assignment comprises a 2-3 minute oral presentation of a proposal to seek permission to explore an opportunity concept and prepare a short (approx 750 words) Executive Summary of the opportunity. You are required to pitch a perceived opportunity to an interested audience with the primary aim to win support and resources to pursue the concept into a full opportunity assessment. This is your chance to attract team members for assignment two and showcase your skills and abilities.

The Executive Summary should address at least all the points included in your presentation and further include an outline of the tasks to be undertaken to complete the opportunity assessment. Depth and detail is not the objective of this assignment rather it is concerned with your ability to structure and present a persuasive and compelling case.

Assessment 2: Opportunity Assessment Framework (Group)
Weighting: 25%
Task:
Based on desk research and possible interviews with knowledgeable people develop and critique with your team (of no more than four members) an Opportunity Assessment Framework that can be used to validate a venture concept. Review the selected framework, as nominated by your lecturer, and contrast or develop the approach with alternate methodologies. From this analysis draw together, justify and demonstrate the value and use of the framework for one of various opportunity assessment perspectives namely: social ventures, corporate ventures, a lean-startup venture, or angel investor seeking involvement.

Assessment 3: Exam (Individual)
Weighting: 30%
Task: A combination of short answer and essay type questions.

Assessment 4: Opportunity Assessment (Individual)
Weighting: 30%
Task: Prepare a full Opportunity Assessment report that outlines the possibilities of a technology or business concept of your own choice. Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis.

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.

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
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator