Entrepreneurship and innovation are increasingly important in all areas of business and government. Entrepreneurial start-ups galvanise the economy by identifying new opportunities and redirecting resources to them. Established firms innovate in order to outmanoeuvre or respond to their competition. And in the public sector, the need for effective policies to deal with new challenges and for increasing service delivery with declining budgets also places a premium on innovative thinking. The course focuses on the skills necessary for the planning, development and launch of entrepreneurial and innovative ventures. The material covered includes the foundations of entrepreneurship, techniques for creative thinking, and processes for developing, planning and launching a new venture including protecting intellectual property, evaluating markets, developing innovative business models, budgeting, and raising finance. The major piece of assessment is the writing of a comprehensive business plan.

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Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

Upon successful completion of the requirements for this course, students will be able to:

1. define, explain and illustrate theories of business innovation and entrepreneurship, the evolution of industries and economies, and the roles of entrepreneurs;
2. develop a comprehensive and well structured business plan for a new venture;
3. present a persuasive business plan to potential investors or to internal stakeholders and effectively answer probing questions on the substance of the plan; and,
4. work effectively in multidisciplinary, cross-cultural teams, communicating, negotiating and contributing shared contributions towards the development of a team project.

Research-Led Teaching

The course provides students with a framework to experience entrepreneurship and innovation that has been developed over many years by entrepreneurs, practitioners and academics.

Field Trips

There are no field trips in this course.

Additional Course Costs

There are no additional class costs expected in this course.

Examination Material or equipment

There are no examinations for this course.

Required Resources

Business Model Generation

Author: Osterwalder, A. & Pigneur, Y.

Publisher: John Wiley & Sons

Edition:

ISBN: 9780470876411

Notes: Every student requires access to this book; Any edition of the book will be sufficient, be it digital or hard copy.

A digital copy of the book is available from Chifley Library.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introduction to Entrepreneurship & Innovation	Readings Business Model Generation, pp. 14-16; 200-211; 124-145. Drucker, 1985. Activities: Exploring the Business Model
2	Value Proposition & Customer Segments	Readings: Business Model Generation, pp. 20-25; 56-65; 212-225; Frow & Payne, 2011; Nailer & Buttriss, 2019. Activities: Preparing for Assessment 1
3	Customer Relationships & Channels	Readings: Business Model Generation, pp. 26-29; 76-87. Ritter & Gemunden, 2003. Activities: Assessment 1.1: Customer Relationships/Channels
4	Revenue Streams	Readings: Business Model Generation, pp. 30-33; 88-107. Eurich et al, 2011. Activities: Assessment 1.2: Revenue Streams
5	Key Activities and Key Partners	Readings: Business Model Generation, pp. 36-39; 108-117. Wiklund & Shepherd, 2009. Activities: Assessment 1.3: Key Activities/Key Partners
6	Key Resources and Cost Structures	Readings: Business Model Generation, pp. 34-35; 40-41; 66-75. Baker et al, 2003. Activities: Assessment 1.4: Key Resources/Cost Structures; Team Formation for Assessment 3.
7	Organisational Plan, Team Motivations & Vision	Readings: Launching New Ventures, pp. 265-292. Activities: Developing the Organisational Plan
8	Marketing Plan, Branding & Offerings	Readings: Launching New Ventures, pp. 313-341. Activities: Developing the Marketing Plan
9	Financial Plan & Sources of Funding	Readings: Launching New Ventures, pp. 173-197. Activities: Developing the Financial Plan
10	Growth Plan, Harvest & Exit	Readings: Launching New Ventures, pp. 390-417; 431-438. Activities: Developing the Growth Plan Finalising Assessment 3.
11	Pitch Practice	Reading: Business Model Generation, pp. 170-179. Activities: Pitching workshop. Assessment 3 Draft due (optional).
12	Final Presentations	Activities: Assessment 4 due; Final comments and course wrap-up.

Tutorial Registration

This course has tutorials or tutorial-like teaching activities. Further details about the structure and teaching activities for this course will be available on the course Wattle site at the start of Week 1.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Analysing Business Models	15 %	31/08/2020	03/09/2020	1
Business Model Concept	40 %	04/09/2020	21/09/2020	1
Venture Project	30 %	12/11/2020	03/12/2020	2,4
Venture Pitch	15 %	29/10/2020	05/11/2020	3,4

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Due to the practical nature of the course, attendance is highly recommended.

Examination(s)

There are no examinations for this course.

Assessment Task 1

Analysing Business Models

Details of task:

The purpose of this assessment task is to provide students with a deeper understanding of the different components of a business model framework and relating it to the strategic challenges of a local business.

This assessment consists of 3 sets of 5 slides, each worth 5%. To assist with marking and timely, actionable feedback, the teaching team will provide templates for each set of slides. The topics for each part are as follows:

Week 3: Customer Relationships and Channels (Due Monday, 17th of August, 9am)

Week 4: Revenue Streams (Due Monday, 24th of August, 9am)

Week 5: Choose Key Activities and Key Partners (Due Monday, 31st of August, 9am)

Individual assessment or Group task: Individual

Submission requirements:

During each of the above dates, participants will submit the following:

5-slide PowerPoint (plus cover slide). These should include:

1. Identification and brief internal analysis of a Canberra-based business;
2. Overview of the organisation's main customer groups and value propositions;
3. Use of the business model canvas tool to describe the firm’s business model, with an emphasis on the components corresponding to the week (see above) and the relationship of those components to the organisation's value proposition.
4. Overview of the external environment of the business, highlighting a threat or opportunity it is facing;
5. Recommendations on how the firm could adjust its business model to respond to the threats or opportunities identified. These should be based on the analysis and concepts discussed in the course.

Slides, bibliography and any necessary appendices to be handed in via Turnitin.

Submission date: See above.

Due date for return of assessment: One week from assessment delivery.

Marking Criteria: See above. A detailed rubric will be made available through the course Wattle site at least two weeks before first due date.

Assessment Task 2

Business Model Concept

Details of task:

This course will include a major mid-semester assessment focusing on the theory and frameworks covered in weeks 1 through 6. This assessment aims to allow students to demonstrate their understanding and ability to apply these frameworks by developing a business model concept of their choosing. Emphasis will be placed on venture concepts that the student would be able to execute should they choose to.

Submission requirements: This assessment will take the form of a series of slides based on a template provided by the teaching team. Students will have 5 days to complete the assessment. It will include three parts:

1. A business model exercise focused on demonstrating understanding of the key concepts and frameworks explored in the course;
2. 5 short answer questions relating to specific topics covered in the course.
3. Brief feasibility analysis and explanation of why the student is well-suited to executing the venture.

Individual assessment or Group task: Individual

Submission date: This task will be due on Friday, 4th of September at 11:59pm.

Due date for return of assessment: 21st of September.

Assessment Task 3

Venture Project

Details of task:

This assessment focuses on the development of an entrepreneurial project integrating the different topics of the course. This team-based task will also draw upon the skills, experience and interests that students have acquired throughout their degrees and personal backgrounds.

The major project will be developed during the second half of the course, commencing in week 7. At that time, students will form teams of four or five. Each team will develop their own entrepreneurial venture concept. This can be one of those developed during the previous assessment, a combined venture, or a completely new concept developed jointly.

Using the business model framework, students will go through the process of conceiving, developing and obtaining early validation for their venture. They will then complete a report that incorporates the key elements of a business plan.

Individual assessment or Group task: Groups of 4 or 5 (students form) with individual component. Each team member will select an equal number of rubric items and be assessed individually on those items.

World limit: Maximum 20 pages (plus any necessary appendices)

Requirements: During the exam period, each team must submit their Business Model Project report via Turnitin. This report should incorporate the content delivered during weeks 7-10:

Organisational Plan (Week 7), including:

Vision, Mission and values of the venture; Key Activities for the venture; roles, responsibilities and suitability of the team; recruitment strategy to attract additional team members; and strategy to establish Key Partnerships.

Marketing Plan (Week 8), including: 

Customer segments identified and quantified, with a clear Value Proposition for each; competitive analysis;… positioning strategy, including Channels and Relationships; and evidence of validation and use of feedback to improve the venture.

Financial Plan (Week 9), including:

Key Resources required for the venture; clear budget based on credible sources; pricing strategy for each customer segment; financial projections based on logical assumptions; and identification of potential sources of funding.

Growth Plan (Week 10), including:

High-level plan for the first six months of operations; identifies growth markets and expansion opportunities; valuation and investor offer; harvest and exit strategies.

Although this is a team-based assessment, each member will select an equal number of rubric items to be assessed on individually. This will require them to take responsibility for certain key aspects of the project and work collaboratively with the team to make sure those aspects are completed successfully.

Submission date: The report will be due at 11:59pm on Thursday, 12th of November (during end of semester Exam Period). Students can optionally deliver a draft in Week 11 to obtain feedback from the teaching team.

Due date for return of assessment: After release of results.

Marking Criteria: Detailed rubrics will be made available on the course Wattle site in Week 7 (if not earlier).

Assessment Task 4

Venture Pitch

Details of task:

The 4th assessment task for the course is a pitch-style presentation of the business model project developed for Assessment Task 3. The purpose of this task is to provide students with experience in delivering presentations aimed at gaining support for a venture. To assist with this, the task will consist of two parts:

1. The Pitch (10%): The first part is the presentation itself, consisting of the elements described in the Requirements section below; and
2. Reflective Feedback (5%): The second part is to deliver written reflective comments on other student's presentations, highlighting potential improvements to the proposed venture.

The reflective comments will be provided to each team but will not have an impact on their mark

Individual assessment or Group task: Group with individual component

World limit: 4 minutes plus Q&A

Presentation requirements:

The Pitch:

Teams will deliver a 5 minute video presentation, followed by a brief Q&A segment. The presentation should cover:

1. The problem addressed by the business model;
2. A clear and credible value proposition, along with any validating research;
3. Strategy for execution, including marketing and gaining user adoption;
4. The team and why you are the best suited to the venture;
5. Clear request for resources or support, and intended returns for supporters.

Although this is a team-based assessment, each member will select an equal number of rubric items to be assessed on individually. This will require them to take responsibility for certain key aspects of the project and work collaboratively with the team to make sure those aspects are completed successfully.

Reflective Feedback:

Each student will provide 1 comment on 5 presentations of their choosing. Each comment will be three sentences long, and should:

1. Identify a gap or shortcoming in the venture;
2. Provide a brief rationale for the identified gap;
3. Suggest a realistic way for the gap to be addressed.

Presentations will be delivered via Zoom and recorded as per ANU policy.

Reflective comments will be submitted via Qualtrics. Make sure you clearly identify yourself so you can be eligible for the 5% weighting.

Slides must be uploaded via Turnitin.

Submission date: Presentations will be delivered during Week 12.

Due date for return of assessment: Marks will be provided within one week of presentation

Marking Criteria: Detailed rubrics for the presentation will be made available on the course Wattle site at least two weeks before due date.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

All requests for extensions to assessment in RSM courses must be submitted to the RSM School Office with a completed application form and supporting documentation. The RSM Extension Application Form and further information on this process can be found at https://www.rsm.anu.edu.au/education/education-programs/notices-for-students/extension-application-procedure/

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

All assignments will be marked and where appropriate feedback will be provided either: in class, or in person by appointment with the course lecturer, or via the course Wattle site.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

You are allowed to resubmit your assignments before the specific deadlines where specified for each assessment item.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students