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BUS 827 – Entrepreneurship in Business

2017 – S2 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Brenton Price
Contact via email
By appointment Mondays 11-12noon
Moderator
Erik Lundmark
Credit points Credit points
4
Prerequisites Prerequisites
BUS651 or ECON649 or MKTG696 or (admission to MLabQAmgt or MBiotech or MRadiopharmSc)
Corequisites Corequisites
Co-badged status Co-badged status
MGMT727
Unit description Unit description
The purpose of this unit is to provide students with an understanding of the process that an entrepreneur employs to develop an idea into an opportunity and then into a thriving, valuable business. We will see how the application of sound principles of business strategy underpins the entrepreneurial process and is critical in achieving a successful outcome. Successful completion of this unit will provide students with knowledge and tools that will support them in their own entrepreneurial endeavours or equip them to contribute as part of an entrepreneurial team. The learning outcomes of this unit focus on applying the entrepreneurial process model to analyse entrepreneurs' venture creation; understanding and practising idea generation and screening including opportunity analysis of trends, feasibility and competitive analysis; understanding the process of how to write up a feasibility analysis and business plan to launch the new venture successfully; and finally understanding the basics of entrepreneurial finance including the raising funds, financing for growth, financial evaluation of opportunities, and acquisition financing.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at http://students.mq.edu.au/student_admin/enrolmentguide/academicdates/

Learning Outcomes

  1. Gain an understanding of the economic, technological, societal, and global dimensions of entrepreneurship.
  2. Understand the relationships between personal goals, competencies, and experience to assess what they bring to all types of venture creation through entrepreneurship.
  3. Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.
  4. Understand and appreciate the leadership skills necessary to successfully plan and launch a new venture in an established organization.
  5. Consider how to monitor venture performance, manage growth, and sustain organisations.

Assessment Tasks

Name Weighting Hurdle Due
A1 Business Idea Generation 50% Week 4, 8, 11
A2: Case Study 50% Wk 13

A1 Business Idea Generation

Due: Week 4, 8, 11
Weighting: 50%

Group Tasks (25%)

  • Business Proposal Report A1 (6-10 pages) due in Week 4 (in Class)

  • Full Feasibility Report A1 due in Week 8 (25%)

    Hard Copy - In Class plus upload to Turnitin online by 11.59pm on due date

Individual Task (25%)

Students will prepare / produce an online "pitch" presentation relating to their compiled final report. The "Pitch" is targeting potential investors and will be submitted in Week 11. Students will be assessed individually based on their own work relating to the assessment criteria provided.

Criteria

As per the assessment guidelines on iLearn website

Late Submissions

No extensions will be granted unless otherwise approved. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for disruption of studies is made and approved. No submission will be accepted after solutions have been posted.


This Assessment Task relates to the following Learning Outcomes:
  • Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.

A2: Case Study

Due: Wk 13
Weighting: 50%

Students will be provided with hard copy take home Case Study in Week 12. Students will be required to read the case and undertake research between Week 12 & 13. Attendance in Week 13 is compulsory. There will be 5 questions based on the case provided in the Week 13 class where students will respond under normal test (closed book) format. All materials in the unit including lectures, tutorials and assessments may be potentially examined in the case study. If a student fails to attend the Week 13 session no additional assessment will be available unless approved absence is granted. An alternative assessment will then be provided and submitted as a make-up assessment. 


This Assessment Task relates to the following Learning Outcomes:
  • Gain an understanding of the economic, technological, societal, and global dimensions of entrepreneurship.
  • Understand the relationships between personal goals, competencies, and experience to assess what they bring to all types of venture creation through entrepreneurship.
  • Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.
  • Understand and appreciate the leadership skills necessary to successfully plan and launch a new venture in an established organization.
  • Consider how to monitor venture performance, manage growth, and sustain organisations.

Delivery and Resources

Classes

  • BUS827 incorporates the lecture and tutorial in one 3-hour session, classes may move between lecture and tutorial elements (including student presentations) in order to break-up the class and ensure an optimal learning environment.
  • The timetable for classes can be found on the University web site at:http://www.timetables.mq.edu.au/ 
  • Attendance will be taken in the weekly classes. Medical certificates must be provided if you are not able to attend a class without incurring a penalty.
  • You must attend at least 11 of the 13 weekly classes – failure to do so may affect your learning outcomes and performance in this Unit.  Students are expected to arrive on time, and not to leave until the class ends. If you have a recurring problem that makes you late, or forces you to leave early, have the courtesy to discuss this with your lecturer/tutor.
  • Students must be quiet during classes, unless of course when class participation is required. Students who disturb or disrupt in lectures and tutorial class will be asked to leave.
  • Mobile phones must be turned OFF. No recordings of the seminars can be made without permission of the lecturer

Required and Recommended texts and/or materials

 Prescribed text:  Norman Scarborough

Title Essentials of Entrepreneurship and Small Business Management , Global Edition; ISBN 9780273787129; Published 09/01/2013

Published by Pearson Higher Ed USA, Pages 720, Format Paperback

 This text is available for purchase at the Macquarie University Co-Op Bookshop. Additional readings and other materials, including PowerPoint slides for each lecture, will be placed on the unit webpage.

Recommended supplementary texts:

  • Kim, W. and Mauborgne, R. 2005, Blue Ocean Strategy, McGraw Hill

 Technology Used and Required

  • Students are required to learn how to use power point, word processing & iLearn course website.  No recording devices are to be used by students to record lecture notes without the permission of the lecturer.
  • Where indicated assignments must be submitted via Turnitin link provided.

 Unit web page

 The web page for this unit can be found at:  http://ilearn.mq.edu.au

 Teaching and Learning Strategy

  •  The unit is taught by lectures and tutorial activities with group discussions.
  •  Normally, there will be a lecture at the beginning of each class that will be used to present new concepts and tools that will contribute to students’ understanding of the subject area and assist you to complete assessment tasks.  These lectures will be interactive and will use real life examples where possible.  In order to prepare for these lectures, students are required to complete the chapter reading in the textbook in advance.  These readings are set out in the week-by-week timetable that can be found in this section.

Supplementary Assessment

Supplementary assessments should be administered in the following circumstances only

  • the provision of a further opportunity to successfully complete hurdle assessments,
  • as the outcome of a Disruptions to Study notification,
  • as the outcome of a Grade Appeal.

Academic Honesty

Students are expected to abide by the University’s Academic Honesty Policy.

Text-based work submitted by students for assessment will be subject to plagiarism detection software, such as Turnitin or similar approved software, unless otherwise approved.

Plagiarism detection methods are to be used on a routine basis to check student work or when plagiarism is suspected.

Electronic submission

Unless otherwise approved, all text-based assessment tasks will be submitted electronically using the University’s electronic learning management system.

Late submission

Late submissions will only be permitted when specified in the unit guide. Except in cases of an approved disruption to study notification, penalties for late submission of assessment where an extension has not been approved are to be consistently applied across all students enrolled in a coursework unit. 

Retention of student work

All assessments worth 20% or grater are archived for benchmarking, calibration or grade review, for a period of six months unless otherwise approved.

Applications for reasonable adjustments

Applications for reasonable adjustments will be considered in accordance with the University’s Disability Policy.

Unit Schedule

Weekly Schedule

Please note that Units is a summary of the overall requirements for BUS827. The unit outline and Assessment Guide will be available on iLearn and must be read in conjunction in this Unit Guide  

Week

Date

Lecture Topic

Tutorial / Assessment

1

4 Aug

 Introduction to Entrepreneurship Ch 1-2

Unit Overview

 

2

11 Aug

 Profitability and Financial Management

·         Productivity Measures

·         Balanced Scorecard

·         Financial Management

Kerin & Peterson Ch. 2

Scarborough Ch 11 & 12

Kerin & Peterson Ch. 2 Exercises: 1, 7 and 8

Team Formation -  Intro. Feasibility Analysis Template

 

3

18 Aug

Business models and Feasibility Analysis

Scarborough Ch 3

 

 

 Team Workshop -  Intro. Feasibility Analysis Template

4

25 Aug

Writing a Business Plan

Scarborough Ch 4

Group Assessment (A1) Feasibility Report (6-10 pages) (Pass/Fail)

Due Friday 25th August (In Class)

5

1 Sept

Unique Marketing Issues

Scarborough  Ch 8

Class Discussion & Case Analysis

Team Workshop - Project Consultation

6

8 Sept

Pricing

Scarborough  Ch 10

7 15 Sept

Legal Foundation and Building a New-Venture Team –

Scarborough Ch 5 & Ch 16

Class Discussion & Case Analysis

Team Workshop - Project Consultation

    Semester Break 18th to 30th Sept  

8

6 Oct

 Modes of Entry into Business

Franchising

Scarborough  Ch 6

Buying an Existing business Scarborough Ch 7

 A1 (Group) Full Feasibility Analysis/Business Plan Report Due Friday 6 Oct (In class & Turnitin)  (25%)

9

13 Oct

Getting Funding or Financing

Scarborough Ch 13

Class Discussion (Australian) Case Study – Flipsters

http://www.youtube.com/watch?v=k--RomhROyQ&feature=related

http://www.youtube.com/watch?v=AAuYyrKZcj4&feature=related

http://www.youtube.com/watch?v=VQ8Izhon4zc&feature=related

 

10

20 Oct

Potential Guest Lecturer - The Pitch to Investors

 

Class Discussion & Case Analysis

Workshop - Pitch Consultation

11

27 Oct

Preparing For and Evaluating the Challenges of Growth and Strategies for Firm Growth

A1 Individual Pitch Presentations Start (25%)

12 3 Nov Intellectual Property A1 Individual Pitch Presentations End

13

10 Nov

End of Session Review

A2 Case Analysis In Class (50%)

 

 

 

Learning and Teaching Activities

Personal Readings

Textbooks, journal articles and on-line materials

Lectures

Lectures from staff and guest lecturers

Workshops

Participation in problem solving workshops

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

Assessment Policy http://mq.edu.au/policy/docs/assessment/policy_2016.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html​

Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html

Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Results

Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.

TO PASS THIS UNIT : ASSESSMENTS: In order to pass this course students

must attempt ALL assessment tasks and achieve at least a 50% mark overall.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

Equity Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Graduate Capabilities

PG - Discipline Knowledge and Skills

Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.

This graduate capability is supported by:

Learning outcomes

  • Gain an understanding of the economic, technological, societal, and global dimensions of entrepreneurship.
  • Understand the relationships between personal goals, competencies, and experience to assess what they bring to all types of venture creation through entrepreneurship.
  • Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.
  • Consider how to monitor venture performance, manage growth, and sustain organisations.

Assessment tasks

  • A1 Business Idea Generation
  • A2: Case Study

Learning and teaching activities

  • Textbooks, journal articles and on-line materials
  • Lectures from staff and guest lecturers
  • Participation in problem solving workshops

PG - Critical, Analytical and Integrative Thinking

Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.

This graduate capability is supported by:

Assessment tasks

  • A1 Business Idea Generation
  • A2: Case Study

Learning and teaching activities

  • Textbooks, journal articles and on-line materials
  • Lectures from staff and guest lecturers

PG - Research and Problem Solving Capability

Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.

This graduate capability is supported by:

Learning outcomes

  • Understand the relationships between personal goals, competencies, and experience to assess what they bring to all types of venture creation through entrepreneurship.
  • Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.
  • Consider how to monitor venture performance, manage growth, and sustain organisations.

Assessment tasks

  • A1 Business Idea Generation
  • A2: Case Study

Learning and teaching activities

  • Textbooks, journal articles and on-line materials
  • Lectures from staff and guest lecturers
  • Participation in problem solving workshops

PG - Effective Communication

Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.

This graduate capability is supported by:

Learning outcomes

  • Gain an understanding of the economic, technological, societal, and global dimensions of entrepreneurship.
  • Understand the relationships between personal goals, competencies, and experience to assess what they bring to all types of venture creation through entrepreneurship.
  • Understand the audiences, purposes, components and the processes of developing and evaluating business plans for new ventures.
  • Understand and appreciate the leadership skills necessary to successfully plan and launch a new venture in an established organization.
  • Consider how to monitor venture performance, manage growth, and sustain organisations.

Learning and teaching activities

  • Participation in problem solving workshops

Global Contexts & Sustainability

The unit introduces prominent theories in the disciplines of Business Strategy and Entrepreneurial thinking and offers students opportunities to apply the disciplinary knowledge in the context of a challenging (global) business environment. The sustainability context: The unit introduces well-established theories and opportunities to explore corporate governance and business ethics that have important implications for entrepreneurial behavior and societal sustainability.

Research and Practice

Both the Business Plan and Case Study assessments require students to conduct original research which involves the collection and analysis of information from a wide range of sources including academic journals, business magazines, newspapers and other media outlets.