ENTREP 5036 - Entrepreneurial Concepts and Mindset

North Terrace Campus - Trimester 3 - 2019

This course aims to provide students with an understanding of the nature of enterprise and entrepreneurship and introduces the role of the entrepreneur, innovation and technology in the entrepreneurial process. It is not about small business or life style businesses but instead the development of growth oriented businesses - whether for-profit or not-for-profit. Entrepreneurship is both a way of thinking and of doing. It involves "building something from nothing" and successful entrepreneurs know how to manage and mitigate uncertainty and risk. The course content is relevant to those individuals thinking about starting a business or who are already in business - large or small, those who are interested in commercialising their own innovations or of others, and those who advise entrepreneurs or engage in policy making in the entrepreneurship area. Developing an entrepreneurial mindset and enterprising skill set critical for constantly changing markets or workplaces. Students will have an opportunity to understand differences of mindsets and its impact. As such students will be career ready through this course equipping them with entrepreneurship and innovation knowledge, skills and capabilities.

  • General Course Information
    Course Details
    Course Code ENTREP 5036
    Course Entrepreneurial Concepts and Mindset
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Trimester 3
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36 to 40 hours
    Available for Study Abroad and Exchange Y
    Course Description This course aims to provide students with an understanding of the nature of enterprise and entrepreneurship and introduces the role of the entrepreneur, innovation and technology in the entrepreneurial process. It is not about small business or life style businesses but instead the development of growth oriented businesses - whether for-profit or not-for-profit. Entrepreneurship is both a way of thinking and of doing. It involves "building something from nothing" and successful entrepreneurs know how to manage and mitigate uncertainty and risk. The course content is relevant to those individuals thinking about starting a business or who are already in business - large or small, those who are interested in commercialising their own innovations or of others, and those who advise entrepreneurs or engage in policy making in the entrepreneurship area. Developing an entrepreneurial mindset and enterprising skill set critical for constantly changing markets or workplaces. Students will have an opportunity to understand differences of mindsets and its impact. As such students will be career ready through this course equipping them with entrepreneurship and innovation knowledge, skills and capabilities.
    Course Staff

    Course Coordinator: Professor Paul Steffens

    Program Director Contact Details: Entrepreneurship and Innovation
    Name: Professor Paul Steffens
    email: paul.steffens@adelaide.edu.au

    Teaching Staff
    Name:
    Dr Todd Davey
    email:
    todd.davey@adelaide.edu.au

    And
    Name: Dr Victoria Galán Muros
    email: victoria.galanmuros@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 Discuss the attitudes, values, characteristics, behaviour, and processes associated with possessing an entrepreneurial mindset and engaging in successful appropriate entrepreneurial behaviour.
    2 Discuss what is meant by entrepreneurship and innovation from both a theoretical and practical perspective, and the role of the entrepreneur in the new enterprise creation process.
    3 Describe the ways in which entrepreneurs perceive opportunity, manage risk, organise resources and add value.
    4 Develop a plan for implementing entrepreneurial activities in a globalised and competitive environment being responsible for the social, ethical and culture issues.
    5 Critique a plan for implementing entrepreneurial activities in a globalised and competitive environment being mindful of the social, ethical and culture issues.
    6 Engage in a continuing learning process through the interaction with peers in related topics, as individuals and as team members.
    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, 4, 5
    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
    4, 5
    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
    6
    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
    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
    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
    6
  • Learning Resources
    Required Resources
    Timmons, Jeffry A., Gillin, L. M., Burshtein, S., and Spinelli, Stephen Jr. (2011). New Venture Creation: Entrepreneurship for the 21st Century – A Pacific Rim Perspective, 1st Edition. McGraw-Hill Irwin.  ISBN: 0070277664
    Recommended Resources
    There is a wide range of material available on the course topics including the following:
    Bessant, J. (2003) High Involvement Innovation: Building and Sustaining Competitive Advantage Through Continuous Change. Chicester: John Wiley & Sons.
    Bygrave, W and Zackarakis, A (2013) Entrepreneurship, 3rd Edition, John Wiley and Co.
    Drucker, P. (1999) Innovation and Entrepreneurship, Butterworth Heinemann, Oxford.
    Fagerberg, J, Mowery, DC and Nelson, RR (2005) The Oxford Handbook of Innovation, Oxford University Press, NY.
    Hisrich, R.D., Peters, M.P., and Shepherd, D. (2013) Entrepreneurship, McGraw-Hill Irwin, Boston.
    Kuratko, D. (2013) Entrepreneurship: Theory, Process, and Practice, 9th Edition, Wiley online library.
    Moore, Geoffrey, (1999) Crossing the Chasm, Harper & Collins.
    Porter, ME, Competitive Advantage: Creating and Sustaining Superior Performance, Free Press, New York, NY, 1985

    Journals
    There is a range of journals where entrepreneurship research scholars publish their research, such as (note that this list is not definitive):
    · Journal of Business Venturing
    · Entrepreneurship Theory and Practice
    · Journal of Small Business Management
    · Academy of Management Review
    · Journal of Small Business and Entrepreneurship
    · Venture Capital
    · Small Business Economics
    · Family Business review

    Web links
    www.brikenbulbs.com
    www.en.wikipedia.org/wiki/business.plan
    www.brainstorming.co.uk
    www.mind-mapping.co.uk
    www.ecic.adelaide.edu.au
    www.mckinsey.com/
    www.ideo.com
    www.business.gov.au
    www.wdc-econdev.com

    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
    Content
    1 Introduction
    2 What is Entrepreneurship? Some Definitions
    3 The Entrepreneurial Process
    4 The Entrepreneurial Mind
    5 Creativity and Innovation
    6 Innovation
    7 The Opportunity
    8 Ideas, Opportunities, and Innovation
    9 Screening Opportunities
    10 Packaging up Opportunities: The Business Plan
    11 Resource Requirements
    12 The Entrepreneurial Team
    13 Social Entrepreneurship
    14 Family Business
    15 Entrepreneurial Strategy
    16 Entrepreneurial Finance
  • 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:

    #AssessmentLengthWeightingLearning Outcomes
    1 Two (2) Multiple Choice and true/false Question Tests 2 x 25 questions 2 x 10%
    (20% in total)
    2
    2 Case Study Maximum of 1,000 words 10% 1
    3 Entrepreneur Interview Maximum of 2,500 words 30% 1,3
    4 Opportunity and Business Plan Evaluation Maximum of 2,500 words 30% 4,5,6
    5 Course Participation N/A 10% 1-6
    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: Two (2) Multiple Choice Question Tests (Individual assessment)
    Weighting: 20% (10% each)
    Submission Details:   The two tests will be conducted online in the week after each intensive class.
    Task:
    Read and understand the materials presented during the lectures and the readings. Answer the questions on the question sheet that will be handed out during class.

    Assessment 2: Write-up of a case study (Individual assessment)
    Weighting: 10%
    Task:
    Read the Case Study and then prepare a response to the questions set for each case. Case studies reinforce understanding of key course concepts and the student’s ability to apply these to practical situations.

    Assessment 3: Entrepreneur Interview (Individual assessment)
    Weighting: 30%
    Task:
    Refer to the “Visit with an Entrepreneur” Exercise 1 on pp. 29-31 of the text. Using this as the basis for your assignment, identify a suitable entrepreneur who has been in business for at least five years. The business should be growth oriented and exhibit innovation in its products or services, systems, processes, etc.
    You are to prepare and conduct an interview with this person using questions from the Exercise as a suggested guide. Preparation is crucial if you are to derive maximum benefit from this assessment. Reflect on the responses obtained during the interview, then write up your report (using Step 4 as a basis for your discussion) to summarize your evaluation on what you learned through this exercise.

    Assessment 4: Opportunity and Business Plan Evaluation (Group assessment)
    Weighting: 30%
    Task:
    Read the business plan that will appear on the MyUni course site (ensure you check for this assignment). You are to undertake the following tasks:
    1. Critique the written business plan identifying the key strengths and weaknesses of the written document as to its readability, professionalism, content – missing or otherwise – and format.
    2. Evaluate the business opportunity identifying the key strengths and weaknesses of the opportunity as to why you would invest/not invest.
    3. Develop five new ideas as to how you could build upon and expand the initial business idea into five other businesses.

    Assessment 5: Course Participation
    Weighting: 10%
    Task: Part of your assessment is based on your participation in the class activities and discussion during the two course intensives.
    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.

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  • Policies & Guidelines
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