Course Title: New Venture Creation

Part A: Course Overview

Course Title: New Venture Creation

Credit Points: 12


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM1325

City Campus

Undergraduate

630H Management

Face-to-Face

Sem 1 2006,
Sem 2 2006,
Sem 1 2007,
Sem 1 2008,
Sem 2 2009,
Sem 2 2010,
Sem 2 2011,
Sem 2 2012,
Sem 2 2013,
Sem 2 2014,
Sem 2 2015,
Sem 2 2016,
Sem 2 2017

BUSM4405

RMIT University Vietnam

Undergraduate

630H Management

Face-to-Face

Viet3 2016

Course Coordinator: Dr. David Gilbert

Course Coordinator Phone: +61 3 9925 5196

Course Coordinator Email: david.gilbert@rmit.edu.au

Course Coordinator Availability: By appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

This is the capstone course for students in the Entrepreneurship Major. Students not studying in the Entrepreneurship Major who wish to study an Entrepreneurship elective are advised to enrol in either 'The Entrepreneurial Process' (BUSM1311) or ' Applied Entrepreneurship' (BUSM4052).

If you wish to participate in the Fastrack program, please contact the course coordinator to verify our eligibility.
  


Course Description

In this course you will undertake the process of building and launching a new entrepreneurial venture with guidance from appropriate RMIT University mentors and members of the business community. You will be able to apply your academic learning to a contemporary workplace situation. This course includes a Work Integrated Learning experience. You will undertake and be assessed on structured activities that allow you to learn, apply and demonstrate your professional or vocational practice; and be involved in authentic engagement with partner organisations that include industry feedback. You will work on operationalising a viable concept in a business environment either individually or in a project based setting, as designated. This will involve integrating the principles and concepts you have studied and practiced over the course of your degree. In particular, you will demonstrate your ability to convert primary and/or secondary research you have conducted regarding market demand and viability for a new product/service into a commercial reality. The mentoring process will provide critical analysis and feedback throughout this process.

This course includes a Work Integrated Learning experience. You will undertake and be assessed on structured activities that allow you to learn, apply and demonstrate your professional or vocational practice; and be involved in authentic engagement with partner organisations that include industry feedback.

This course also provides you with a capstone experience, which will provide you with the opportunity to integrate, critically reflect on and consolidate what you have learnt in your program.


Objectives/Learning Outcomes/Capability Development

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On successful completion of this course you will be able to:

  1. Competently research critical issues relating to new venture creation and business development and apply the business planning process for launching a new venture or new project for business development.
  2. Demonstrate a sound understanding of the requirements for business development or sustaining and growing a new venture.
  3. Competently manage critical relationships with key stakeholders such as customers, suppliers, distributors and financials backers.
  4. Develop skills in managing organisational dynamics and examine how they operate in a variety of dynamic environments.
  5. Demonstrate creative and innovative approaches regarding idea conceptualisation, opportunity recognition, leveraging limited resources and working under stress and short time cycles to start a new venture or develop growth opportunities for existing business.
  6. Identify and evaluate environmental factors that influence the success (or not) of an existing or new venture.


Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.


Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Blackboard. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information.

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on theRMIT Library website.

Additional resources and/or sources to assist your learning will be identified by your course coordinator will be made available to you as required during the teaching period.


Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Group 1 – NVC 1325 Venture Launch

Assessment Task 1: 15% 
Linked CLOs:3, 4
Assessment Task 2: 15%
Linked CLOs: 1, 5
Assessment Task 3: 30%
Linked CLOs: 1, 4, 5

Assessment Task 4: 40%
Linked CLOs: 1,2, 4, 5,6
 
Group 2 – G2 – Innovation Fastrack Program

Assessment Task 1: 30% (Reflection Journal 15% and Executive Summary 15%)
Linked CLOs: 1, 2, 3, 4, 6
Assessment Task 2: 20%
Linked CLOs: 1, 2, 3, 4, 5, 6
Assessment Task 3: 50%
Linked CLOs: 1, 2, 3, 4, 5, 6

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.