ENTREP 5038 - New Venture Creation
North Terrace Campus - Trimester 1 - 2022
General Course Information
Course Code ENTREP 5038 Course New Venture Creation Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre Term Trimester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Intensive in Trimester, up to 3 hours per week in Semester Available for Study Abroad and Exchange Y Incompatible ENTREP 5018, TECHCOMM 5018 Course Description This course is aimed at exposing the students to modern approaches to new venture creation. It focuses on the nexus between the entrepreneurial team, their opportunity and the iterative process of venture development they engage with. It is designed for anyone who needs to assess, develop or create potential business or project opportunities that are mainly, but not exclusively, based on a technological concept or a social innovation. Screening techniques are introduced that will address the new venture value proposition: including analysis of the underlying business concept, the base technology, benefits to customers, and fit with potential markets. Models for new venture development which include consideration of the resourcing requirements, the competitive landscape, team development and future strategies will be treated in depth; and a comprehensive model for new venture validation will be developed during the course.
Course Coordinator: Dr Scott GordonProgram Director Contact Details: Postgraduate Entrepreneurship and Innovation
Name: Associate Professor Stephen Zhang
Name: Dr Scott Gordon
Researcher profile: https://researchers.adelaide.edu.au/profile/scott.gordon
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 the difference between a business idea and a potential innovative business opportunity 2 Articulate a new venture value proposition and communicate ideas and concepts effectively 3 Build an assessment process for a new venture to determine its desirability, feasibility, viability and sustainability 4 Develop practical strategies for exploiting business opportunity and resourcing new venture creation and development 5 Prepare a comprehensive validation for a potential new venture of your own design, and recommend future strategy.
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 7: Digital capabilities
Graduates are well prepared for living, learning and working in a digital 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:
Barringer, Bruce R. and Ireland, R. Duane (2019) Entrepreneurship: Successfully Launching New Ventures, 6th Edition (Global Edition). Pearson. ISBN: 978-1-292-25533-0
A list of readings are available on MyUni.
Recommended ResourcesThere is a broad range of materials that cover and complement many of the topic areas covered in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials.
Candidates may also benefit by consulting the following texts:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2019). Entrepreneurship: Theory, Process and Practice, 5th Edition. Cengage Learning. ISBN: 978-0170411752
Nielsen, S. L., Klyver, K., Evald, M. R., & Bager, T. (2017). Entrepreneurship in theory and practice: paradoxes in play. 2nd Edition. Edward Elgar Publishing, Cheltenham, UK. ISBN 978 1 78536 447 1
Bygrave, W and Zackarakis, A, Corbett, A. (2016) Entrepreneurship, 4th Edition, John Wiley and Co.
Hisrich, R.D., Peters, M. P., and Shepherd, D. (2016) Entrepreneurship, 10th Edition. McGraw-Hill Irwin, Boston.Spinelli, Stephen Jr. and Adams, Robert Jr. (2015). New Venture Creation: Entrepreneurship for the 21st Century, 10th 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 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
This is a draft schedule and is a guide only. The timetable may be changed during the course delivery if necessary.
Schedule Topic Content 1 Business Ideas & Opportunity Development 2 Desirability: Customer Needs & Market Demand 3 Feasibility: Technology & Environment 4 Value Propositions & Product-Market Fit 5 Effective Business Model Development 6 Viability: Prototyping, Piloting & Pivoting 7 Industry Structure & Analysis 8 Assessing Competitors & Planning Strategies 9 Assembling Resources & Recognizing Advantage 10 Building New Venture Teams
Specific Course RequirementsThis course requires you to present mature and well-reasoned work that addresses the assessment of ideas and technologies using world’s-best methods. Of prime importance is to use current techniques and theory and apply in the course discussion and in your assignments. In undertaking your feasibility study and creating your assessment tool, state your logic and identify theoretical limitations and risks of any approach you suggest. Always take a critical stance on your own work.
You will need to read more widely on the topic then the list of references provided and beyond hits found on Google; remember this is postgraduate study.
Your work will need to be succinct and you should avoid overly verbose presentations. Do not labour the point, regurgitate theory or address irrelevant issues. Examples or cases may be used, if appropriate, to illustrate your point as they will serve to strengthen your arguments.
You are also required to structure your work so as it flows logically and your reasoning needs to be logical, sound and clear. The proper use of headings, sub-headings, bullet points and paragraphing will assist this purpose. Further, an executive summary or abstract at the beginning of your work will provide a clear overview of what follows in the body of your report.
Keep to the word limits and do not ramble. In every instance present your work as if it is a submission to a Board of Directors – succinct, clear, structured and reasoned.
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 Weight Learning Outcomes 1 Two Quizzes (Multi-Choice & Short Answer) Individual 20 Questions / Quiz 20% 1-4 2 Venture Value Proposition Individual Max 2000 words 40% 1-2 3 New Venture Validation Group Max 3000 words 30% 3-5 4 Course Participation & Engagment Individual N/A 10% 1-5 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 DetailTwo Multi-Choice & Short Answer Quizzes
Read and understand the materials presented during the lectures and the readings. Answer the questions.
Venture Value Proposition
Develop a value proposition for a new venture of your own design. This venture value proposition should identify appropriate fit between product and market and be evidence based. The evidence base should employ desk research (e.g. to observe trends), and potential customer interviews or surveys (e.g. to isolate their needs or problems). The value proposition should i) clearly prioritise customer problems/needs/issues and list any alternative solutions currently available; ii) identify targeted customer segments and the characteristics of potential early adopters; iii) articulate a clear and compelling message that reveals a unique value proposition.
New Venture Validation
With your team prepare a comprehensive validation of a potential new venture, and recommend future strategy. Based on a compelling value proposition negotiated among your team, develop a full business model for your venture that includes appropriate consideration of the venture team and analysis of the resource requirements. Your validation of this venture should be appropriately evidence based. Your recommended future strategy should link coherently with the venture validation you have conducted.
Course Participation & Engagement
Part of your assessment is based on your participation in the course and in class activities and engagment in exercises and discussion during the two course intensives.
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.
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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