ENTR601 - Entrepreneurship

Year

Credit points

Campus offering

Prerequisites

Incompatible

BUSN607 Entrepreneurship

Teaching organisation

150 hours over a twelve-week semester or equivalent study period

Unit rationale, description and aim

Entrepreneurial activity is a major driver of creating the social and economic conditions individuals require to thrive. To be effective as an entrepreneur, accumulating knowledge and skills in opportunity & market analysis, validating creative concepts, strategic decision making and start-up establishment is essential. 

This unit provides an in-depth study of the theory and context on Entrepreneurs and Entrepreneurship. It will explore several dimensions surrounding business opportunity creation and growth, in corporate and start-up environments, underpinned by the questions, concerns and decisions made by entrepreneurs. The dimensions explored will cover conceptualisation, innovation, strategy, operations, financing, management and marketing in forming sustainable businesses that generate wealth for both individuals and society.

The foremost purpose of this unit is to advance students' knowledge, understanding and skills of managing the complex process of launching a start-up and its innovative value proposition in different industries and settings, and how to analyse and suggest solutions to complex entrepreneurial problems.

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

On successful completion of this unit, students should be able to:

LO1 - Describe and apply the theory and context of entrepreneurship and the managerial, operational, strategic, and structural requirements for new business launch taking into account local and international perspectives. (GA5, GA6) 

LO2 - Assess and analyse innovation opportunities that can contribute to social and economic well-being of individuals and to the common good. (GA2, GA5) 

LO3 - Analyse information and factors driving entrepreneurial decision making from concept to stewardship and return on investment. (GA5, GA8) 

LO4 - Communicate solutions to entrepreneurial problems professionally both in written format and verbally (GA5, GA9) 

LO5 - Critically evaluate the capital raising models and approaches used when investors evaluate new businesses as targets for investment. (GA4, GA5) 

Graduate attributes

GA2 - recognise their responsibility to the common good, the environment and society

GA4 - think critically and reflectively 

GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession 

GA6 - solve problems in a variety of settings taking local and international perspectives into account

GA8 - locate, organise, analyse, synthesise and evaluate information 

GA9 - demonstrate effective communication in oral and written English language and visual media 

Content

Topics will include: 

• Entrepreneurial ecosystems and emerging trends in entrepreneurship
• Entrepreneurship and Entrepreneurs, and value creation  
• Social and economic impact of entrepreneurial activity
• Social wellbeing in entrepreneurial opportunities
• Entrepreneurial leadership and intrapreneurship  
• Ideation
• Start-up Strategy: Managing innovation 
• New venture planning  
• New venture operations 
• Managing growth and uncertainty  
• Business model design  
• Succession Harvesting and Exits     

Learning and teaching strategy and rationale

This unit is offered in multiple modes in order to attract the widest possible number of participants by appealing to a range of learning preferences and providing opportunities for participation for isolated and/ or marginalised students.

Attendance Mode  

Learning in this mode will require face-to-face attendance in specific physical location/s. Students will have face-to-face interactions with lecturer(s) and/or industry practitioners to achieve the learning outcomes. This mode provides a 12-week window to students to gradually accumulate the required knowledge and skills and provides them with a chance to have face-to-face interaction with their peers and carry out practical group/in-class activities.

The strategy for this unit when offered in attendance mode integrates the use of active, case study, problem-based and experiential learning approaches simultaneously to help students to acquire, develop and integrate knowledge, understanding and skills related to identifying and solving complicated entrepreneurial problems. Students will be able to learn the application of theories and concepts underpinning entrepreneurial processes in a series of 12 weekly face-to-face workshops along with the materials (videos, texts, exercises, and cases) provided through the online learning platform (LEO). Each workshop includes mini seminars focusing on the core theories followed by practical exercises. In this blended mode of delivery, students- through individual and group in-class activities- will be able to develop and accumulate practical knowledge of entrepreneurship theories/concepts.

Intensive Mode 

In intensive delivery mode, the unit is taught on-campus in a continuous block of time over a short period. This model is appropriate for students who have business and personal commitments that prevent them from participating in a 12-week delivery.

 The strategy for this unit when offered in attendance mode integrates the use of active, case study, problem-based and experiential learning approaches simultaneously to help students to acquire, develop and integrate knowledge, understanding and skills related to identifying and solving complicated entrepreneurial problems. Students will be able to learn the application of theories and concepts underpinning entrepreneurial processes in a series of intensive (weekend or week-long) face-to-face workshops along with the materials (videos, texts, exercises, and cases) provided through the online learning platform (LEO). Each intensive workshop includes mini-seminars of multiple topics focusing on the core theories followed by practical exercises. In this intensive mode of delivery, students- through individual and group in class and intensive activities- will be able to develop and accumulate practical knowledge of entrepreneurship theories/concepts.

Online Mode 

Learning in this mode does not require any physical campus attendance. The unit will be delivered virtually (online) by means of technology.

Learning will have elements that are self-directed and self-paced. Unit will likely also require the use of online communication and collaboration tools to achieve interactions amongst students, and with the lecturer(s)/industry expert on a regular basis.

Learning in this mode will be largely asynchronous (‘anywhere, anytime learning’), but could also include synchronous events (e.g. live webinar).

This mode provides flexibility and does not need traveling to campus location. Through using online learning technologies and appropriate online platforms, students will be able to attend online classes and use pre-recorded material and carry out their assessment tasks remotely.

The strategy for this unit when offered in attendance mode integrates the use of active, case study, problem-based and experiential learning approaches simultaneously to help students to acquire, develop and integrate knowledge, understanding and skills related to identifying and solving complicated entrepreneurial problems. Students will be able to learn the application of theories and concepts underpinning entrepreneurial processes in a series of online workshops (every fortnight) along with the materials (pre-recorded seminars, videos, texts, exercises, and cases) provided through the online learning platform (LEO). Each online workshop includes mini-seminars focusing on reviewing core theories followed by practical exercises. In this online mode of delivery, students- through individual online activities & exercises- will be able to develop and accumulate practical knowledge of entrepreneurship theories/concepts.

ACU Online

This unit uses an active learning approach to support students in the exploration of knowledge essential to the discipline. Students are provided with choice and variety in how they learn. Students are encouraged to contribute to asynchronous weekly discussions. Active learning opportunities provide students with opportunities to practice and apply their learning in situations similar to their future professions. Activities encourage students to bring their own examples to demonstrate understanding, application and engage constructively with their peers. Students receive regular and timely feedback on their learning, which includes information on their progress.

Assessment strategy and rationale

To pass this unit, students must demonstrate competence in all learning outcomes and achieve an aggregate mark of at least 50%. Marking will be by a rubric specifically developed to measure your level of achievement of the learning outcomes for each item of assessment. Students will be awarded a final grade which signifies their overall achievement in the Unit.

The assessment strategy for this unit helps students develop their knowledge, understanding and skills in entrepreneurship to the point where they can design a feasible start-up that addresses contemporary issues in the area of entrepreneurial behaviours and innovation management. To accumulate this level of aptitude, in Assessment 1 students will analyse an entrepreneurial case in which they apply their knowledge and understanding of entrepreneurial models, concepts and theories to resolve a case problem and provide recommendation and further in assessment 2 students will make a presentation in which they apply their knowledge and skills of entrepreneurship and innovation to assess and analyse contemporary issues in entrepreneurship in the Australian context. In Assessment 3 students will further develop their understanding of the managerial aspects of entrepreneurship and innovation theories and practice by analysing the external business environment, to develop an entrepreneurial opportunity and offer an innovative and feasible solution that can exploit that opportunity in the form of a business format start-up proposal . This assessment strategy applies to all three modes of delivery but with different timing and schedules.

Overview of assessments

Attendance Mode  ;

Intensive Mode 

Online

Representative texts and references

Bessant, J & Tidd, J 2018, Entrepreneurship, Wiley, Hoboken, NJ.

Bessant, J & Tidd, J 2015, Innovation and entrepreneurship, 3rd edn, Wiley, Hoboken, NJ.

Halkias, D & Thurman, PW 2012, Entrepreneurship and sustainability: business solutions for poverty alleviation from around the world, Routledge, Farnham, England.

Scarborough, N 2013, Essentials of entrepreneurship and small business management, Global Edition, Pearson Higher Education, Upper Saddle River, NJ.

Avolio Alecchi, BE & Marković, MR 2013, Women and entrepreneurship: female durability, persistence and intuition at work, Routledge, Farnham, England.

Matthews, CH & Brueggeman, R 2015, Innovation and entrepreneurship: a competency framework, Routledge USA, New York.

Drucker, P 2015, Innovation and entrepreneurship, Routledge Classics, London.

Kshetri, N. 2014, Global entrepreneurship: environment and strategy, Routledge USA, New York.

Tidd, J & Bessant, J 2014, Strategic innovation management, Wiley, Hoboken, NJ.

Owen, R, Bessant, J & Heintz, M 2013, (eds) Responsible innovation: managing the responsible emergence of science and innovation in society, Wiley, Hoboken, NJ.

Hisrich, RD & Kearney, C 2013, Managing innovation and entrepreneurship, SAGE, Thousand Oaks, CA. Samson, D & Gloet, M 2015, Innovation and entrepreneurship: creating new value, Oxford University Press Australia, Melbourne.

Erixon, F & Weigel, B 2016, The innovation illusion: how so little is created by so many working so hard, Yale University Press, New Haven, CT. 

McAdam, M 2014, Female entrepreneurship, Routledge USA, New York.

Breuer, H & Ldeke-Freund, F 2016, Values-based innovation: innovating by what we care about, Palgrave Macmillan, Basingtstoke, England.