Offers an applied approach allowing students to work through the new venture creation process. This includes the identification of opportunity concepts and the market potential of the new venture, developing appropriate strategies for planning and managing growth and identifying and assessing critical resources for the proposed new venture. The process acts as a screen of internal and external factors that can impact upon a new venture.
The unit is developed around 8 topics that combined with assessment designed to create a questioning and critical approach builds an understanding of the concept and application of new venture creation.
Topic 1 - The new venture process
Topic 2 - Identifying opportunities for new ventures
Topic 3 - Screening opportunities and potential markets
Topic 4 - Accessing resources for new ventures
Topic 5 - Strategising
Topic 6 - Financing new ventures
Topic 7 - Growth and development
Topic 8 - Harvest options and strategies
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
Learning outcomes and graduate attributes
GA1: Intellectual rigour,
GA3: Ethical practice,
GA4: Knowledge of a discipline,
GA5: Lifelong learning,
GA6: Communication and social skills,
GA7: Cultural competence
|On completion of this unit, students should be able to:||GA1||GA2||GA3||GA4||GA5||GA6||GA7|
|1||communicate the 'idea' underpinning a new venture so that potential partners and financiers become engaged||Creativity||Communication and social skills|
|2||compare resources and networks that can assist entrepreneurs when establishing and developing new ventures||Intellectual rigour|
|3||demonstrate an in-depth knowledge of the importance of strategy in the establishment and growth of new entrepreneurial ventures||Intellectual rigour||Creativity|
|4||critique appropriate financial strategies to the new entrepreneurial venture||Intellectual rigour||Communication and social skills|
|5||appraise harvesting and exit strategies for entrepreneurs to optimise returns from established ventures.||Intellectual rigour||Communication and social skills|
- Timmons, JA, Gillin, LM, Burshtein, SL & Spinelli, S, Jr, 2011, New Venture Creation: Entrepreneurship for the 21st Century, McGraw-Hill/Irwin, Boston. ISBN: 9780070277663.
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