ENTREP 3011 - Startup Methodologies

North Terrace Campus - Semester 1 - 2019

Entrepreneurship is an act that occurs under conditions of extreme uncertainty. Despite the uncertainty, entrepreneurs- 'must act when we cannot foresee consequences; we must plan when we cannot know; we must organize when we cannot control' (La Porte, 1975, p. 345). You will explore key methodologies for planning and starting businesses. The course covers concepts of uncertainty and forecasting, the role of trial and error and the scientific method in entrepreneurial planning. You engage in a deep look at alternative methodologies, including the lean startup methodology as well as business plans. If you are considering starting a business in the future, this course is a must! It offers a set of tools that can dramatically alter the likelihood of success, directing your effort towards activities that help build actual businesses rather than useless idle dreaming or ineffective planning approaches. This is not a standard lecture style course. It is an interactive class, using a significant amount of experimentation in the delivery method, and a structure that applies first-hand experience in the methodologies presented.

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Course Details

Course Code	ENTREP 3011
Course	Startup Methodologies
Coordinating Unit	Entrepreneurship, Commercialisation & Innov Centre
Term	Semester 1
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Intensive: 36 to 40 hours
Available for Study Abroad and Exchange	Y
Incompatible	ENTREP 3001, TECHCOMM 3001
Assessment	Individual assignments, group project, journal

Course Staff

Course Coordinator: Dr Wendy Lindsay

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

Teaching Staff

Name:
Email:

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	Explain how to develop a strategic business plan
2	Develop their own effective strategic business plan
3	Know how to communicate their business plan effectively to financiers and other stakeholders
4	Identify the pros and cons of developing a business plan

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)	1-4
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	1, 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	1-3
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1-4
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	2, 4

Learning Resources

Required Resources

No Text book required.

Students will have access to a comprehensive set of entrepreneurship and business plan readings (and business plan case example):

Lindsay, Noel, Craig, Justin, and Geronimos, Gail (2009). Business Planning for Entrepreneurs, Module 2, Authors Academic Publishing, Corvallis, USA. (Handout)

Timmons, Jeffry A. and Spinelli, Stephen Jr. (2009). New Venture Creation: Entrepreneurship for the 21st Century, 8th edition. McGraw-Hill Irwin, Boston. Chapter 3 (Handout)

Lindsay, Noel (2010). Business Plan Template. (Handout)

2MBA Business Plan (Handout) Students should read this in advance and be prepared to discuss this business plan in class

Bell, Gordon and Mason, Heidi, Bell-Mason Diagnostic, Chapter 10. (Handout)

Lindsay, Noel (2010). Common Financial Ratio Formulae (Handout)

Recommended Resources

Though not compulsory, students may wish to have a look at the following entrepreneurship texts:

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.

Hisrich, Robert D., Peters, Michael P., and Shepherd, Dean A. (2010). Entrepreneurship, 8th Edition. McGraw-Hill Irwin, Boston

Students are also encouraged to review some of the following to supplement their knowledge:

Business plan books that are widely available

Entrepreneur/venture capitalist media sites such as Entrepreneur.com, Inc.com, and RedHerring.com

Scholarly entrepreneurship journals including Journal of Business Venturing, Entrepreneurship Theory and Practice, Journal of Small Business Management, Venture Capital, and Family Business Review where you will find the latest in what is happening in international entrepreneurship research.

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).

Learning Activities Summary

Schedule
Intensive Day	Content	Readings/Activities
1	Course overview Introductions Review of the entrepreneurial process	Ch 3 Timmons & Spinelli Handout Activity: Short presentation on your strengths (and weaknesses) and how these will be important to the team in developing a business plan
2	Overview of the business plan and the business planning process Critique of a business plan Team formation Discussion of the business idea for this course	Business Planning for Entrepreneurs (Lindsay, Craig and Geronimos 2009) Activity: Critique of the 2MBA business plan Activity: Critique of the 2MBA business plan presentation Activity: Class forms into teams to discuss project and member responsibilities
3	The process forward for managing the project	Activity: Presentation of A3 business plan critique Activity: Development of work plan and work on developing business plan
4	Financial pro formas	Examination Test Activity: Students present an overview of their business plan progress and discuss challenges encountered Activity: Work on developing plan
5	Presenting your business plan	Activity: Work on developing business plan Activity: Poster plan presentation in class Activity: Critique the two other reports (individually) Activity: Prepare questions for the two other teams (as a team)
6	Presentations	Activity: Oral presentation (each person in the team must present) with other students testing the depth of knowledge of the presenters via asking searching questions

Small Group Discovery Experience

This course offers opportunity to work in small teams to creatively identify and analyse a business opportunity.

It also requires team critique, whereby, you are asked to analyse and critique the work produced by other student groups. Refer to assesment criteria for further details.

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	Length	Weighting	Learning Outcomes
1	In class Test	1 hour (see below)	25%	1,4
2	Written Business Plan	Three A3 page poster plan, 4,500 words	30%	2
3	Oral Presentation of Business Plan	15 min presentation plus 10-15 Q&A	15%	3
4	Critique of two business plans	1000 words max	10%	1,2,3,4
5	Reflective Learning Log	1000 words max	10%	1,2,3,4
6	Class Participation	Throughout course	10%	1,2,3,4
	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: In class Test
Weighting: 25%
Task: On the evening of the first day of the second intensive, students will participate in a test to gauge their knowledge about the course to date. Questions will be answered in the booklet provided.

Assessment 2: Written Business Plan
Weighting: 30%
Task: Based on the business idea that the whole class will use, your team’s task is to develop a business plan using the poster plan template on three A3 sheets of paper. This format has been demonstrated to focus attention on key aspects of the plan, and reflects the needs of organisations to have a high level, yet comprehensive overview, of the key elements of such a plan. Each plan will be critiqued by other students.

Assessment 3: Oral Presentation of Business Plan
Weighting: 15%
Task: Each person in the team will be allocated a section of the report to present by the lecturer. Presentations should be professional and should enthuse. Do not get into undue detail in your presentations.

Assessment 4: Critique of two other reports
Weighting: 10%
Task: Critically review three reports and evaluate them on the following basis:
What are two strengths of the business plan?
What are two areas of improvement of the business plan?
How feasible are the financial details of the business plan?
If you were an investor, what areas would you require additional information about?

Assessment 5: Reflective Learning Log
Weighting: 10%
Task: Submit a reflective log during this course. The purpose is to reflect upon what you are learning as you develop your business plan with your team: What you have learned, what surprised you, what disappointed you, and any other insights that you gleaned from developing this business plan.

Assessment 6: Class Participation
Weighting: 10%
Task: Participation in the class activities and discussion during the two course intensives.

Active participation in discussions requires adhering to the following ground rules:
We will respect confidentiality
We will share time equitably to ensure the participation of all
We will keep an open mind and be open to learning
We will not be disrespectful of others even if we do not share their views

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.

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