Units
Entrepreneurship and Innovation
Unit code: MGB223
Contact hours: 3 per week
Credit points: 12
Information about fees and unit costs
This unit introduces students to the nature and characteristics of entrepreneurship and innovation and explores the inter-relationship between the two within contemporary economies from managerial perspective. Learning will be directed towards developing the theoretical and applied knowledge, skills, and attitudes that will support and enhance innovation and enterprise creation activity, through the development of a business plan. The unit is designed for those individuals interested in creating a new venture or working in industries as employees of venture owners or those that serve this sector. Students will have opportunity to build a comprehensive plan of their business concept.
Availability
| Semester | Available |
|---|---|
| 2012 Semester 1 | Yes |
| 2012 Semester 2 | Yes |
Sample subject outline - Semester 1 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
Entrepreneurship, innovation and their importance for economic activity has seen increased recognition worldwide by governments, investors and universities. This unit introduces you to the nature and characteristics of entrepreneurship and innovation and explores the inter-relationship between the two within contemporary economies from managerial perspective. The unit covers key concepts relating to the role of innovation in creating and sustaining enterprises and has been designed for those interested in learning more about the innovation and new enterprise creation process. Learning will be directed towards developing the theoretical and applied knowledge, skills, and attitudes that will support and enhance innovation and enterprise creation activity, through the development of a business plan. The unit focuses on the ability to identify and develop opportunities and provides an overview of the major elements of entrepreneurial activity, including evaluating, planning and managing a new business.
Aims
The aim of the unit is to introduce you to innovative and entrepreneurial thinking intended to enhance the development of business planning capacities that will lead to successful development of new products and services. This unit aims to enable you to understand the entrepreneurship process at two levels: management of creativity and innovation in entrepreneurial organisations; and management of the process of new venture creations. You are exposed to techniques and tools necessary for new venture development as well as for business planning activities.
Objectives
Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context
Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue
Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences
Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output
Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding
Unit Objectives
Upon completion of this unit, you should be able to:
1. Demonstrate knowledge and understanding of the range, scope, and complexity of the phenomena, issues, and problems related to entrepreneurship and the innovation process
2. Identify, analyse and evaluate entrepreneurial opportunities
3. Analyse the steps involved in setting up a new enterprise
4. Design the planning process for a new enterprise
5. Demonstrate advanced communication skills in writing of a business plan
The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.
Content
Approaches to Teaching and Learning
Learning strategies in this unit advance critical analysis and planning skills for the creation of new enterprises. Intellectual inquiry is encouraged through analysis of case studies and tutorial exercises. Critical debate focuses on the theory, feasibility and implementation of a new enterprise. You will learn about a range of topics through problem solving for the new enterprise start-up and innovation process. The critical analysis of exercises and case studies will provide you with a breadth of knowledge and experience in application and will form the basis for writing a business plan. Broad-based knowledge and experience will be gained through the critical analysis of exercises and case studies during lectures and tutorials.
Assessment
The assessment in this unit aims to support your achievement of the learning objectives for both Discipline Knowledge and Other Graduate Capabilities. Assessment has been designed in order to allow you to:
Assessment name:
Business Concept
Description:
In this assignment you are required to undertake the entrepreneurial process of opportunity recognition and concept development. You will be asked to identify possible commercial opportunities for a particular innovation and then (a) articulate the opportunity into a new business concept and (b) submit a report identifying and describing your innovative business idea for a new venture. Weighting of 40% is made up of 30% Report and 10% Presentation.
Length/Duration: 1,500 words (report); 5 minutes (presentation)
Formative or Summative: Formative and Summative
Relates to objectives:
Unit objectives: 2, 3 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), (3.2)
Weight:
40%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 6
Assessment name:
Business Plan
Description:
Based on the idea for a new and innovative business developed in assignment one, you need to write a complete business plan for a new entrepreneurial business undertaking.
Length/Duration: 2,000 words (plus 1,500 words from revised assignment 1), total 3,500 words
Formative or Summative: Formative and Summative
Relates to objectives:
Unit objectives: 1, 4, 5 and AOL goals: KS (1.1), CTA (2.1), PC (3.1)
Weight:
60%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 13
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Prescribed Text
Schaper, M. & Volery, T. (2011). Entrepreneurship and Small Business: a Pacific Rim Perspective. (3rd ed.). Milton, Qld: Wiley Australia.
Required References
Frederick, H. H., Kuratko, D. F. (2010). Entrepreneurship: Theory, Process & Practice. (2nd ed.) South Melbourne: Cengage Learning.
Timmons, J. A. & Spinelli, S. (2007). New Venture Creation, Entrepreneurship for the 21st Century. (7th ed.). Irwin: McGraw Hill.
Risk assessment statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 17-Jan-2013
