Course Title: New Venture Creation

Part A: Course Overview

Course Title: New Venture Creation

Credit Points: 12.00

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 


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 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020,
Sem 1 2021,
Sem 2 2021

Course Coordinator: Associate Professor Afreen Huq

Course Coordinator Phone: +61 3 9925 5198

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

Course Coordinator Location: 80.09.71

Course Coordinator Availability: By appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

This course is the capstone course in the Entrepreneurship major. What this means is that we draw together all the previous knowledge that you have accumulated over your major and we begin the process of applying that knowledge in appropriate and creative ways in a facilitated learning environment. It also means that it is your responsibility to make those connections between your previous learning and how you apply them in this course in the context of a new venture creation. You are expected to be independent learner and self-directed in how you will draw upon your previous knowledge and experience to apply them in developing a new venture.Therefore, this course is inappropriate for students who are not at the end of their program sequence for Entrepreneurship major. We strongly encourage you to delay enrolment in this course and to take it in your final year when you have more appropriate experience and a chance to accumulate the kind of knowledge required to enable you to do well in this course.


  


Course Description

This Capstone Course synthesises, applies and builds on all the previous knowledge that you have accumulated over your major. You will apply design-driven approaches to enterprise creation and development that empathetically places people at the centre of value creation. You will be exposed to real world, contemporary mindsets that foster meaningful impact and also learn to use creative and innovative tools and methodologies that drive such outcomes. This facilitated learning experience will require you to bring to life a desirable, feasible and viable concept in a business environment either individually or in a project-based setting, as designated. As part of your learning experience and networking opportunity in this course, you will undertake self-directed learning and action guided by industry experts and/or mentors that will require you to process and critically analyse feedback in achieving the course learning outcomes. This course includes a simulated Work Integrated Learning (WIL) experience in which your knowledge and skills will be applied and assessed in a workplace context and where feedback from industry and/or community is integral to your experience. 


Objectives/Learning Outcomes/Capability Development

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


CLO1: Demonstrate what is required in conceptualising, testing, designing and prototyping a desirable, feasible and viable new product or service.


CLO2: Create and evaluate opportunities whilst managing inevitable trade-offs that occur when resources are limited.


CLO3: Establish networks and leverage relationships to identify, shape, and act on entrepreneurial opportunities in a variety of contexts and organisations.

CLO4: Clearly communicate the value proposition of a new venture to key stakeholders to mobilise necessary resources for the new venture. 

CLO5: Assess personal and professional development in demonstrating creative,innovative and entrepreneurial mindsets and capabilities for developing viable new products or services.

CLO6: Undertake evidence-based, critical decision-making whilst operating in a volatile,uncertain, complex, ambiguous, and hyper-connected (VUCAH) environment.


Overview of Learning Activities

In this course you will be encouraged to be an active learner who embraces ownership of their learning experience. Your learning will be supported through a blended approach of in-class and online delivery modes comprising individual and group work. This includes workshops, peer-to-peer learning, critical problem solving, engaging with end-users and customers, building networks, delivering ‘live’ presentations to industry partners, producing precise and succinct reports and collaborating with external subject matter experts on set tasks or projects.


Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and 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:

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

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

Assessment Task 3: 40%
Linked CLOs: 1, 2, 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.