ENTREP 3011 - Startup Methodologies
North Terrace Campus - Semester 2 - 2020
General Course Information
Course Code ENTREP 3011 Course Startup Methodologies Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre Term Semester 2 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 Course Description 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.
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 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
Required ResourcesNo Text book required.
There will be a number of books and references provided in class.
The second intensive particularly will cover The Lean Startup by Eric Ries.
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 ResourcesThough 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.
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 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
Schedule Intensive Day Content 1
- Course overview
- Review of the entrepreneurial process
- 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
3 The process forward for managing the project 4 Financial pro formas 5 Presenting your business plan 6 Presentations
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.
An overview of the course assessment appears in the following Table. Details appear in the following section:
# Assessment Length Weighting Learning Outcomes 1 Team Research Report 3000 words 30 1,2 2 Key Principles 1500 words 10% 2 3 Lean startup methodology 300 words 50% 3 4 Class participation IN class 10% 1,2,3,4 Total 100%
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 DetailIn class Test
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.
Written Business Plan
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.
Oral Presentation of Business Plan
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.
Critique of two other reports
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?
Reflective Learning Log
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.
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
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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