Course Title: Entrepreneurial Ventures

Part A: Course Overview

Course Title: Entrepreneurial Ventures

Credit Points: 12


Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM1314

City Campus

Undergraduate

630H Management

Face-to-Face

Sem 2 2006,
Sem 1 2007,
Sem 2 2007,
Sem 1 2008,
Sem 2 2008,
Sem 2 2009,
Sem 2 2010,
Sem 2 2011

BUSM2307

Singapore Inst of Management

Undergraduate

630H Management

Face-to-Face

Offsh 1 08,
Offsh 3 08,
Offsh 1 09,
Offsh 3 09,
Offsh 1 10,
Offsh 3 10,
Offsh 1 11,
Offsh 3 11,
Offsh1 12

BUSM3300

RMIT Intl University Vietnam

Undergraduate

630H Management

Face-to-Face

Viet1 2010,
Viet2 2010,
Viet3 2010

Course Coordinator: Dr Nthati Rametse

Course Coordinator Phone: +613 9925 5498

Course Coordinator Email:nthati.rametse@rmit.edu.au

Course Coordinator Availability: By appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

If you have completed either BUSM1314 Entrepreneurial Ventures 1 or BUSM1315 Entrepreneurial Ventures 2, do not enrol again.


Course Description

This course will provide students with the knowledge, tools and frameworks associated with implementing a business strategy, in the context of the modern business environment through experiential learning. Students will be asked to question the fundamentals and assumptions of how they approach a unique and ‘live’ business opportunity, research modern business practices and develop a tailored strategy for a “real world” result. Students will work in ‘commercialisation advisory teams’ (CAT’s) and will develop, via direct engagement with their ‘client’, a commercial paper evaluating the venture and developing the thinking as a prelude to a full business plan. Each CAT will also quantify and communicate in a commercial and professional manner, tangible strategic recommendations for action for the specific business in collaboration with the ‘client’. During Entrepreneurial Ventures there will be a particular focus on developing the following enterprising capabilities (using small group work).

  • Planning strategically (starting with the end point in mind)
  • Managing dynamic change
  • Streamlining systems, processes and reporting as volume and complexity increases
  • Managing cash flow, budgets and profit/loss
  • Introducing continuous improvement and quality assurance principles into their venture, ie. monitor and modify stock to meet market demands, as required
  • Relationship management skills including negotiation, lobbying and influencing
  • Resolving conflict in a constructive and negotiated manner
  • Carrying through on an agreed responsibility and being accountable for it
  • Matching personal strengths and weaknesses to undertakings
  • Learning from mistakes
  • Monitoring and evaluating performance against benchmark criteria


Objectives/Learning Outcomes/Capability Development

On completion of the course students will have assessed the merit of their allocated venture/opportunity, and proposed a practical ‘way forward’ for the client. Students will learn to effectively scrutinise a venture objectively, and experience the machinations associated with group dynamics, team management and gain an insight into executing beyond the idea development. Students should be able to:
• Demonstrate an understanding of the practical application of the entrepreneurial process
• Demonstrate abilities and skills in a range of business scenarios.
• Show initiative and take a leading role in getting things done, both as individuals and as a team.
• Quantify a 3rd party opportunity, research and recommend business strategy.
• Know own personal strengths and weaknesses as they relate to business projects.
• Be familiar with modern business practices and take a creative and analytical approach to the conceptualisation of business improvement ideas.
• Take on and carry through an agreed tasks and responsibilities within their group.
• Deal with a range of opportunity stakeholders in pursuit of their project objectives.


Students should develop the ability to methodically evaluate opportunities and develop commercial quality documents to support them. They should be able to understand that the integration of multi-disciplines such as Marketing, HRM, Management, Logistics and Technology & innovation are critical determinants to the potential viability of a venture.
They will have the skills to methodically:

Brainstorm & develop ideas
Screen these ideas
Evaluate feasibility & undertake opportunity review
Develop commercial quality documents to support evaluation and review
As well, students should be able to:

Demonstrate an understanding of the practical application of the entrepreneurial process
Demonstrate their creativeness and innovativeness in a range of enterprising capabilities
Identify, assess and manage risk


Overview of Learning Activities

The emphasis of this course is on experiential learning where you will afforded the opportunity to work in a dynamic ’live’ context. In doing so you will undertake activities that will require you to be able to deal with:

• Research and understand an assigned business value proposition
• Brainstorm and develop ideas
• Evaluate and Screen
• Group Management
• Client Management
• Detailed Implementation Strategy
• Presentation of findings and Pitching for a purpose.

Student inputs:
Students will need to actively prepare for and participate in course activities. This is very much an experiential learning class., therefore you will need to be in class to do well in this course.


Overview of Learning Resources

 

Use of DLS
Students also have access to course materials and additional readings on the DLS website via the course Blackboards including external internet links and access to RMIT Library online and hardcopy resources.

Other references
A list of other references will be made available on the DLS.


Overview of Assessment

Overview
A range of assessment will be undertaken in this course that may involve examinations, mini-quizzes, essays, business reports, case study analysis, presentations and participation.
Please use the RMIT Business referencing guidelines document for report style found at: http://mams.rmit.edu.au/s9sx559hurvc.rtf .

An online version can also be found at: http://www.dlsweb.rmit.edu.au/bus/public/referencing/index.html.

Academic integrity and plagiarism
RMIT policies concerning academic integrity and plagiarism apply to students in this course. For more details see: http://www.rmit.edu.au/academicintegrity/students