ENTREP 5038 - New Venture Creation

North Terrace Campus - Trimester 3 - 2018

This course is aimed at anyone who needs to assess possible business or project opportunities that are mainly, but not exclusively, based on an innovative technological concept. Rapid screening techniques are introduced, which will address the underlying business concept, the base technology, benefits to customers, potential markets, financial feasibility, risk and benefits to the organisation and the next steps to be taken. Opportunity screening protocols will be treated in depth and a comprehensive venture - screening guide will be developed during the course. The course covers all the key elements of a feasibility study for a new enterprise.

  • General Course Information
    Course Details
    Course Code ENTREP 5038
    Course New Venture Creation
    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
    Incompatible ENTREP 5018, TECHCOMM 5018
    Course Description This course is aimed at anyone who needs to assess possible business or project opportunities that are mainly, but not exclusively, based on an innovative technological concept. Rapid screening techniques are introduced, which will address the underlying business concept, the base technology, benefits to customers, potential markets, financial feasibility, risk and benefits to the organisation and the next steps to be taken. Opportunity screening protocols will be treated in depth and a comprehensive venture - screening guide will be developed during the course. The course covers all the key elements of a feasibility study for a new enterprise.
    Course Staff

    Course Coordinator: Professor Paul Steffens

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

    Teaching Staff:

    Semester 1 & Trimester 1
    Dr Scott Gordon
    Researcher profile: https://researchers.adelaide.edu.au/profile/scott.gordon
    Email: scott.gordon@adelaide.edu.au

    Semester 2/Trimester 3
    Dr Todd Davey
    Email: todd.davey@adelaide.edu.au
    Profile: www.linkedin.com/in/toddadamdavey
    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 Identify the difference between an idea and an innovative business opportunity
    2 Articulate a new venture investment proposition and communicate ideas and concepts effectively
    3 Build an assessment process for a new opportunity or venture to determine its viability and sustainability
    4 Identify the areas of risk in research commercialisation and/or introducing new technologies or other innovationsinto a market
    5 Produce a feasibility report for your own or another new venture opportunity
    6 Draw conclusions and recommend actions based upon a comprehensive opportunity assessment of a newventure idea
    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, 3, 4, 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
    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, 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
    2, 3
    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
    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, 3, 4, 5
  • Learning Resources
    Required Resources
    Text book:
    Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2016). Entrepreneurship: Theory, Process and Practice, 4rd Edition. Cengage Learning.  ISBN: 9780170352550

    A list of readings are available on MyUni.
    Recommended Resources
    There 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 text:
    Timmons, Jeffry A., Gillin, L. Murray, Buhrstein, Sam L. and Spinelli, Stephen Jr. (2011). New Venture Creation: Entrepreneurship for the 21st Century, A Pacific Rim Perspective, 1st Edition. McGraw-Hill Australia Pty Ltd, North Ryde, NSW.

    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
    Schedule
    Topic Content
    1 Introduction – What’s this course about?
    2 In what context does idea assessment take place?
    3 How are new ideas developed?
    4 Might this be a good idea?
    5 Where do good ideas come from?
    6 Is there a compelling need?
    7 Are there enough customers?
    8 How are ideas assessed?
    9 Is the industry favourable?
    10 Does the idea create a sustainable competitive advantage?
    11 Does the entrepreneurial team have the right capabilities?
    12 Group assignment presentation
    13 Does the business model make sense and offer potential?
    14 Is it the right strategy?
    15 Do the finances make sense and offer potential?
    16 Wrap up and review
    Specific Course Requirements
    This 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.
  • 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
    #Assessment TaskTask TypeLengthWeightLearning Outcomes
    1 New Venture Pitch Assessment Individual /Summative Max 1000 words
    + six (6) assessment forms
    25% 2, 5 & 6
    2 Feasibility Study Group / Summative Max 3000 words 30% 1, 3, 4, 5 & 6
    3 An Opportunity Assessment Framework Individual / Summative Max 3000 words 45% 1, 2, 3 & 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: “Assessing New Venture Pitch” (Individual)
    Weighting: 25%
    Task: This assignment requires you to:
    a. Submit submit six (6) Investor Pitch Assessment Sheets by reviewing your choice of the new venture pitches from links provided on MyUni
    b. answer two questions

    Assessment 2: Feasibility Study (Team)
    Weighting: 30%
    Task: With your team of no more than five members prepare a full Opportunity Assessment and Feasibility Report that outlines the potential of a technology or business concept of your team’s choice to form a new venture. IMPORTANT: This is not a business plan but a comprehensive analysis of a business idea/concept that recommends whether the idea provides an arguable case to proceed with full business planning and business startup activity. Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis.

    Interim presentation
    During the second intensive your team will be given an opportunity to present a fifteen minute progress summary of the market analysis.

    Final Report
    Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis. This can be a go, no-go, or go-if decision as long as it is clearly motivated.

    Assessment 3: Opportunity Assessment Framework (Individual)
    Weighting: 45%
    Task: Based on desk research and possible interviews with knowledgeable people, develop an Opportunity Assessment Framework that can be used to validate a venture idea/concept suitable for a specific end user. This may be developed specifically for a technology or industry sector, a venture capitalist, an angel investor, a social venture funder or a tool developed for your own purposes. In any case, this assignment requires you to research and identify at least three alternate methodologies suitable for your purpose of assessing new venture ideas and concepts. Conclude your assignment by recommending and proposing a framework methodology for assessing ideas and new venture opportunities fit for your designated purpose
    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
  • 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.