Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Frances Chang
Contact via email
TBA
Thursdays, 5 to 6pm
Tutor
Lauren Gellatly
Contact via email
TBA
TBA
Tutor
Jennifer Hsieh
Contact via email
TBA
TBA
Tutor
Maryam Mathers
Contact via email
TBA
TBA
Tutor
Simran Talwar
Contact via email
TBA
TBA
Tutor
Brett White
Contact via email
TBA
TBA
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
21cp at 100 level or above
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit introduces students to the entrepreneurial process of identifying opportunities and developing these opportunities to new business ventures. Students will learn business concepts and processes required to successfully launch and operate an entrepreneurial venture. The unit is taught through experiential learning where students learn by starting a business venture. The new business can be a profit-driven enterprise or an enterprise driven by addressing social needs. Students will learn how to investigate market dynamics and customer needs to generate innovative ideas. Crafting a business plan and working towards a pitch provide the necessary critical skills that, to a degree, resemble the real world of entrepreneurship. Students will bring together the knowledge acquired across different disciplines and will need to participate actively as an entrepreneurial team to launch the new venture.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Requirements to complete this unit satisfactory.
Successful completion of this unit is conditional on submission of all assessment tasks and achieving a minimum of 50% of the total assessments. Students are expected to complete all assessment tasks for this Unit.
Name | Weighting | Hurdle | Due |
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Individual Case Essay | 30% | No | Week 6, 3 April 2018 by 9am |
New Venture Business Plan | 30% | No | Week 4 to 13 |
Formal Exam | 40% | No | Formal exam period |
Due: Week 6, 3 April 2018 by 9am
Weighting: 30%
The individual essay is a critical reflection of the definition of entrepreneurship, the origin of entrepreneurial ideas and opportunities and the entrepreneurial mindset that is often a characteristic of an entrepreneur. The essay is based on secondary research and primary research. Your first task is to provide a critical review of entrepreneurship. Your critical review is based on synthesising readings from peer-reviewed academic journals, relevant databases, industry and government reports, websites and newspaper articles. Your second task is to analyse the startup and development of an entrepreneurial venture. This second task requires you to interview an entrepreneur. Draw on concepts and theories to consider the characteristics of your selected entrepreneur and the emergence of his/her business idea.
All students must submit their essays through turnitin using the link on iLearn. No extension will be granted. Late essays will incur a 10% penalty per 24-hour period that they are late. Saturday and Sunday each count as one day. Penalty does not apply in cases in which an application for special consideration is made and approved. If the revised extended deadline is not met, late penalty applies.
Read the Individual Report instructions on iLearn for additional details and marking criteria.
Due: Week 4 to 13
Weighting: 30%
This assessment comes in two parts. First part is the written Business Plan and the second part is the Business Pitch presentation.
Part 1 Written Business Plan (Team mark worth 15%)
Gone are the days of the maverick entrepreneur! Research indicates that an entrepreneurial team has a higher chance of success compared to a lone entrepreneur. Your task is to assemble a diverse and energetic creative team of students to launch a new business venture. The task of the team is to identify business opportunities, assess these opportunities and develop a business plan to launch your new business venture. Progressive milestones must be established from week 4 before the culmination of your progress into the Business Plan which must be submitted through turnitin by Week 11, Mon, 21 May by 9am. No extension will be granted. Late reports will incur a 10% penalty per 24-hour period that they are late. Saturday and Sunday each count as one day. Penalty does not apply in cases in which an application for special consideration is made and approved. If the revised extended deadline is not met, late penalty applies.
Part 2 Business Pitch presentation (Individual mark worth 15%)
15-minutes per new business team pitch presentation. Presentation slides must be uploaded on iLearn BEFORE presentation! The entrepreneurial team must present its New Business Venture in a presentation pitch in Week 12 or Week 13. Tutorial attendance at Week 12 and Week 13 is compulsory for all students. Failure to attend will result in 0 marks. This is a 15-minutes per team presentation. Marks are awarded based on individual presentation even though this assessment is a team business pitch presentation. BEFORE the pitch presentation, you must submit your team’s powerpoint slides on iLearn Discussion Forum. Your powerpoint presentation must not contain more than 12 slides. Penalty applies if powerpoint slides are not uploaded before the pitch presentation. All students must be present in class in both the Pitch presentation days. Absence without approved “Special Consideration” will be awarded 0 marks.
Read the New Business Venture Plan instructions on iLearn for additional details and marking criteria.
Due: Formal exam period
Weighting: 40%
Final Exam
Due: Formal Exam period
Weighting: 40%
The final examination is included as an assessment task for this unit to provide assurance that the student has attained the knowledge and skills assessed by the exam. The exam will be held during the University’s formal examination period.
Classes 1 x 2 hour lecture and 1 x 1 hour tutorial each week; i.e., 3 hours of class each week unless otherwise indicated in the lecture schedule. Classes may vary due to public holidays. The timetable can be found on the University website at: http://students.mq.edu.au/student_admin/ timetables.
Required Text: Barringer, B. and Ireland, R. (2016). “Entrepreneurship. Successfully Launching New Ventures”. Global Edition, 5th Ed, Pearson Education Ltd. England .
Useful additional text:
Barringer, B (1980). “Preparing Effective Business Plans An Entrepreneurial Approach”. 2nd Ed., Global Ed. Prentice Hall.
Osterwalder, A and Pigneur, Y (2010). "Business Model Generation: A handbook for visionaries, game changers and challengers", John Wiley & Sons, Inc., New Jersey.
Prizes
Prizes for this unit: http://www.businessandeconomics.mq.edu.au/ undergraduate_degrees/ prizes_scholarships
Suggested Academic Journals for reading and research:
• Entrepreneurship, Theory and Practice • Harvard Business Review
• Journal of Business Venturing
• Journal of Small Business Management
• International Small Business Journal
• Small Business Economics
Some suggested journal articles may be available on iLearn
Additional relevant resources
• Global Entrepreneurship Monitor : http://www.gemconsortium.org/
• ABS, Australian SMES : http://www.abs.gov.au/AUSSTATS/ abs@.nsf/Lookup/ 1321.0Main+Features12001?OpenDocument
• Innovation Australia : http://www.innovation.gov.au/
• Harvard Business school entrepreneurs http://www.hbs.edu/ entrepreneurs/
• Pitch for financial investors: check iLaern for current links
• Crowd funding: check iLearn for current links
• Venture capital: check iLearn for current links
• Angel investors: check iLearn for current links
Unit Web Page
Please note that the unit’s logon iLearn address is: http://ilearn.mq.edu.au Please check this site each week for lecture slides (available for downloading and printing). In addition, other notes will be posted on the site from time to time and discussion forums are available for online participation. It is incumbent upon each student to regularly check iLearn (i.e. at least once a week). Where stated in your assessments, you must upload your reports through the appropriate Turnitin link. IT IS YOUR RESPONSIBILITY TO ENSURE THAT YOU SUBMIT YOUR ASSESSMENTS TO THE CORRECT TURNITIN LINK - UNDER YOUR CORRECT TUTOR'S NAME, ON THE CORRECT DATE. Failure to do so will result in a loss of marks.
Technology Use
Students are expected to have knowledge of working with Microsoft Word, Excel and PowerPoint Also it is expected that students get themselves familiar with iLearn, Google Scholar, and other required online databases.
Unit Weekly schedule S1 2018
Week
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Lectures and Readings |
Tutorial activities |
1. Mon, 26 Feb |
Introduction to Unit and Introduction to Entrepreneurship
Guest Speaker: TBA
Readings – Chapter 1 PLUS journal articles on ilearn
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No tutorial |
2. Mon, 5 March |
Recognizing opportunities and generating ideas
Guest Speaker: TBA
Readings – Chapter 2 PLUS journal articles on iLearn
Read Prim Case BEFORE tutorial!
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Getting to know each other
Briefing on assessment tasks
Case Study for in-class participation:
Prim: How a lack of passion and resolve can kill a business – p. 33
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3. Mon, 12 March |
Feasibility Analysis
Readings – Chapter 5 PLUS journal articles on iLearn
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Formation of teams.
Q&As on assessment tasks
Ideas-generating activities
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4. Mon, 19 March |
Business Models
Readings – Chapter 4 Additional reading – Osterwalder and Pigneur (2010)
PLUS journal articles on iLearn
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Team contract MUST BE submitted to tutor!
“How to conduct interviews?”
In-class entrepreneurial team work:
First milestone: Brainstorming your business ideas. Make your decision..
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5. Mon, 26 March |
Industry and Competitor Analysis
Readings – Chapter 5 PLUS journal articles on iLearn
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Case Study for in-class participation:
Dropbox: Solving a compelling problem in a smooth manner – page 90
Quirky: How one company … p.136
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6. Mon, 2 April
Public Holiday |
Public holiday but lection notes and Echo recording will be available
Writing a Business Plan
Readings – Chapter 6 Additional reading – Preparing Effective Plabs, Barringer (2008)
PLUS journal articles on iLearn
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Individual Report Due: Tues, 3 April by 9am.
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7. Mon, 7 April |
Legal Foundation and types of intellectual property
Readings – Chapter 7 and 12 |
In-class entrepreneurial team work.
Second milestone: Show and discuss progress of Business plan, focusing on the business idea, industry and feasibility.
Case Study for in-class participation:
Birchbox: Leveraging the College Experience…p.232
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Mid-session break 16 April to 29 April
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8. Mon, 30 April |
Financial Viability
Readings – Chapter 8 PLUS financial templates on iLearn
Guest speaker - TBC |
In-class entrepreneurial team work.
Third milestone: Show and discuss progress of Business plan, focusing on management, marketing and operations.
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9. Mon, 7 May |
Building your new venture team and Unique marketing issues
Readings – Chapter 9 and 11
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In-class participation:
You be the VC 8.1 and 8.2: p.309 |
10. Mon, 14 May
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Getting finance and funding
Readings – Chapter 10 PLUS journal articles on iLearn
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In-class entrepreneurial team work:
Final milestone: Show progress of your Business Plan.
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11. Mon, 21 May |
Challenges and strategies for venture growth
Readings – Chapter 13, 14 PLUS journal articles on iLearn
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In-class entrepreneurial team work:
Focus on preparation for your Business Pitch
New Venture Business Plan Due: Mon 21 May by 9am
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12. Mon, 28 May |
Continuing on growth strategies and franchising
Readings – Chapter 14 and 15 PLUS journal articles on iLearn
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Tutorial attendance is compulsory for all students.
First few groups to present New Business Pitch
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13. Mon, 4 June |
Revisions, Exam preparation and Final Q&As. |
Tutorial attendance is compulsory for all students.
Remaining groups to present New Business Pitch
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Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
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Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.
This graduate capability is supported by:
We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.
This graduate capability is supported by:
Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.
This graduate capability is supported by:
We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.
This graduate capability is supported by:
Inclusion of new tutorial activities.
This Unit draws on domestic and global practices of sustainability in addressing entrepreneurial projects. Students have the opportunity to engage in sustainable issues that affect community and society at large.
This Unit builds on entrepreneurial principles of understanding the external and internal environment which provide the platform to seek opportunities and to launch new ventures. This perspective requires students to source secondary and/or primary data in an ethical manner from Macquarie University library and other external source and to apply the research findings to their assessments. students are reminded to consider ethical implications of conducting research.