Unit rationale, description and aim
In today's economy, where traditional employment structures are shifting, startup business knowledge is crucial for individuals to navigate the complexities of freelance work and seize entrepreneurial opportunities. Understanding how to launch a business empowers individuals to thrive in flexible work arrangements, innovate, and contribute to economic growth. This unit offers applied learning and enables students to develop entrepreneurial mindset to succeed in their business ambitions. Key components consist of how to set up a business, implement business strategies and develop knowledge on new technologies. Students will be equipped to begin their business endeavours, possessing the necessary knowledge and skills to start, grow, and oversee small businesses anchored in the 17 United Nations Global Sustainable Development Goals (SDGs). Overall, the unit aims to provide a strong understanding of fundamental principles and practical abilities crucial for effectively launching and managing small businesses.
Campus offering
No unit offerings are currently available for this unit.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.
| Learning Outcome Number | Learning Outcome Description | Relevant Graduate Capabilities |
|---|---|---|
| LO1 | Explain the importance of entrepreneurship in a small business environment. | GC1, GC2 |
| LO2 | Analyse business frameworks, concepts, and models in their application to real-world case studies to address challenges in a competitive marketplace. | GC2, GC7, GC8 |
| LO3 | Demonstrate entrepreneurial skills in local or global context using verbal and critical skills. | GC4, GC8, GC10, GC12 |
| LO4 | Design a small business venture with the consideration of economic, environmental, cultural, social and technological aspects recognising strategies aligned with sustainability frameworks. | GC2, GC8, GC11 |
Content
Topics will include:
- Introduction to small business management and entrepreneurship
- Igniting business and entrepreneurial talent
- Exploring avenues for business guidance and support
- Strategy formulation and business development planning
- Understanding SDGs and applying business ethics
- Technology for small businesses
- Market analysis and marketing for small business.
- Legal and regulatory compliance when registering a business
- Operations and distribution strategies for small business
- Financing business ventures and access to capital
- Go-to-market strategy
- Managing expansion and recognising global opportunities for small business
Assessment strategy and rationale
The assessment strategy for the unit is created to ensure that students not only achieve proficiency in all learning outcomes but also demonstrate a comprehensive understanding of the subject matter.
Assessment tasks are designed to be both formative and summative, providing students with ample opportunities to gauge their progress and develop their skills. The assessment approach is consistent across all modes of delivery, ensuring fairness for all students irrespective of their learning environment.
Assessment 1. Students will focus on selected weekly modules to deepen their understanding of key concepts and refine their knowledge as needed.
Assessment 2. Students collaboratively develop and present business pitch presentation with the goal to communicate effectively new business venture ideas.
Assessment 3. Students are required to design a business plan based on the pitch presented in Assessment Task 2 with consideration of technology in startups, legal and regulatory, operations, finance and marketing consideration and with the goal to manage expansion in a sustainable way
Overview of assessments
| Brief Description of Kind and Purpose of Assessment Tasks | Weighting | Learning Outcomes | Graduate Capabilities |
|---|---|---|---|
Assessment Task 1: Portfolio of Engagement Students will be evaluated on a combination of engagement in the unit via discussion board questions, responses to postings and evidence of successful engagement in selected weeks, or via a range of selected tasks. Submission Type: Individual Assessment Method: Online engagement Artefact: Portfolio evidencing | 20% | LO1, LO2 | GC1, GC2, GC7, GC8 |
Assessment Task 2: Business Pitch Presentation Students design and present a business pitch presentation for their selected industry. Submission Type: Team Assessment Method: Oral Artefact: Individual presentation | 40% | LO3, LO4 | GC2, GC4, GC8, GC10, GC11, GC12 |
Assessment Task 3: Business Plan Design a business plan with consideration of technology in startups, legal and regulatory issues, operations, finance and recognising strategies aligned with sustainability frameworks. Submission Type: Individual Assessment Method: Report Artefact: Written report | 40% | LO2, LO4 | GC2, GC7, GC8, GC11 |
Use of resources and technologies including Generative Artificial Intelligence:
For the assessments in this units, students are permitted to use GAITs to clarify concepts, theories, ideas, etc., discussed in class. Students are also allowed to use GAITs to generate preliminary ideas for writing and/or edit a working draft of the assignment. However, students must develop or edit those ideas to such a significant extent, that what is submitted is their own work. Use of peer-reviewed references according to the assignment instructions is still expected.
Please note that the outputs from these tools are not always accurate, appropriate, or properly referenced. Students should ensure they have moderated and critically evaluated the outputs from generative AI tools such as ChatGPT before submission.
Students will be required to disclose and provide an acknowledgement statement by selecting from the below:
Please select ONE acknowledgement from the following and put it at the end of your submission:
- I acknowledge that I have not used GAITs (e.g., ChatGPT) in drafting and proofreading this assignment.
- I acknowledge that I have only used GAITs (e.g., ChatGPT) in drafting and proofreading this assignment, which is permitted in the assignment instructions.
Learning and teaching strategy and rationale
This unit is designed to create a dynamic learning environment and integrates life case studies, problem-based, and experiential learning methodologies to facilitate the analysis and application of knowledge and skills pertinent to creating and managing small business ventures. By employing a multifaceted approach through a series of workshop activities and online independent tasks, using a variety of learning resources (videos, texts, exercises, and cases), this unit progressively equips students with the competencies necessary for success in entrepreneurial endeavours.
Students will engage in mini seminars or lectures, and workshops that delve into core theories, providing a solid theoretical foundation upon which practical exercises are built. Guest speakers with entrepreneurial background will provide real-world insights and experiences into the learning process, offering students various perspectives on navigating the entrepreneurial landscape. Through a blended delivery model encompassing both face-to-face workshops and online components, students will actively engage in individual and group activities. These activities will serve as catalysts for the development and consolidation of practical knowledge related to entrepreneurship and business management theories and concepts.
Representative texts and references
Scarborough, N and Cornwall, J (2024) Essentials of Entrepreneurship and Small Business Management, Global Edition (12). Pearson Education Ltd. England.
Benedic, M. (2024). Hybrid work for small businesses: strategies for reaping benefits. Journal of Business Strategy, 45(1), 41-47.
Su, Q., Luo, L., Lau, D. C., & de Jong, B. (2024). United or divided? Entrepreneurial passion and faultlines in new venture teams. Journal of Small Business Management, 62(1), 175-208.
Thomas, G. H., & Douglas, E. J. (2024). Resource reconfiguration by surviving SMEs in a disrupted industry. Journal of Small Business Management, 62(1), 140-174.
Yavuz, R. I. (2024). Founders’ education, social capital, and their interplay in the intensity of new-venture internationalization. Journal of Small Business Management, 62(1), 30-66.