Course Title: Entrepreneurial Ventures 2

Part A: Course Overview

Course Title: Entrepreneurial Ventures 2

Credit Points: 12

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
BUSM1315	City Campus	Undergraduate	630H Management	Face-to-Face	Sem 2 2006, Sem 2 2007, Sem 2 2008

Course Coordinator: Dr Afreen Huq

Course Coordinator Phone: +61 3 9925 5198

Course Coordinator Email:afreen.huq@rmit.edu.au

Course Coordinator Location: 108.16.19

Course Coordinator Availability: By appointment

Pre-requisite Courses and Assumed Knowledge and Capabilities

BUSM1311 The Entrepreneurial Process
BUSM 1314 Entrepreneurial Ventures 1

Course Description

This course will familiarise students with tools, frameworks and processes associated with evaluating entrepreneurial opportunities, to provide for a real world experience where prospective ventures are identified, screened, culled and developed.

The class will become, in effect a big consulting business. It will conducted as a real world situation where the class was commissioned by industry to develop a range of over 500 ideas and then screen them into 10 promising ideas. The students will then undertake feasibility analysis culminating in a report and presentations for each.

During Entrepreneurial Ventures 2 there will be a particular focus on developing the following enterprising capabilities (using small group work). How to:
• plan strategically (starting with the end point in mind);
• manage dynamic change;
• streamline systems, processes and reporting as volume and complexity increases;
• manage cash flow, budgets and profit/loss and finally the liquidation of the venture;
• introduce 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;
• resolve conflict in a constructive and negotiated manner;
• carry through on an agreed responsibility and being accountable for it;
• match personal strengths and weaknesses to undertakings;
• learn from mistakes; and
• monitor and evaluate performance against agreed criteria.

It is expected that by the end of this course your team will have reported on the performance of the company, formally liquidated the company and/or presented recommendations on sale of the company. In the event of liquidation the report will refer to how the share of profits will be returned to the shareholders and other equity partners.

Objectives/Learning Outcomes/Capability Development

On completion of Entrepreneurial Ventures 2 students will have assessed various venture merits as they relate to their own personal profile along with commercial agendas. 

Students should be able to :

• demonstrate an understanding of the practical application of the entrepreneurial process.
• demonstrate abilities and skills in a range of enterprising capabilities
• show initiative and take on a leading role in getting things done in a team setting and in furthering the endeavours of the venture
• identify, assess and take managed risk
• match personal strengths and weaknesses to projects
• carry through an agreed responsibility.

Students should have the skills 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 is critical in determining potential viability of a new venture.

Overview of Learning Activities

Contact hours
Learning will occur mainly through the team ventures that convene for a block of 3 hour each week. Team presentations will be used as part of the facilitated learning process and you will be expected to participate in this process. Sub-teams will report back to the larger group during these blocks of time on their research and activities. These sub-teams will take on responsibilities such as Marketing, Production, Human Resource Management, Financial Management, Sales, Strategic Management and the like.

Non-contact hours
Student directed hours in Entrepreneurial Ventures 2 will be spent on individual and group responsibilities associated with the venture with reporting back to each larger team. It is expected that weekly research and other tasks will need to be completed for each team during these hours and reported upon during the block sessions.

Overview of Learning Resources

Learning resources are largely based on the work of each individual business team and their mentor.

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

Course grades available
Assessment uses the following percentage scale. Your marks may be scaled

Grade Score %
HD High Distinction 80 - 100
D Distinction 70 - 79
CR Credit 60 - 69
P Pass 50 - 59
NN Fail 0 - 49

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/academic-policy/assessment_policies

As well, note further requirements in Part B of the Course Overview.