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20105 Innovation and Entrepreneurship

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2020 is available in the Archives.

UTS: Business: Management
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

The aim of this conceptual and decision-making subject is to provide students with the competencies and skills necessary for understanding, implementing and then managing the entrepreneurial innovation process within a highly competitive global environment.

Entrepreneurship/intrapreneurship is more than the mere creation of a new business. Seeking opportunity, taking risks and having the tenacity to push ideas into reality are special characteristics that permeate entrepreneurial individuals. Entrepreneurship is an integrated concept that has revolutionised the way business is conducted. Students are required to study how winning entrepreneurs think, act and perform.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. define, develop and administer a strategy and structure for promoting innovation within firms
2. discuss about the key elements of innovation and how to manage innovation within firms
3. explain the capability building processes for innovation for firms and nations
4. illustrate the process of new venture creation, social entrepreneurship and entrepreneurship within existing organisations and its value in the development of a healthy economy
5. identify the fundamental determinants of competitive advantage in entrepreneurial endeavours
6. develop a broad perspective on the dynamic interface between the small business and larger firms collaborating to conduct business activities in various forms of strategic alliances and be able to demonstrate the capacity to assess the viability of a new business concept or an existing business enterprise and to develop an internationalisation plan for such ventures

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

  • Show an understanding of essential concepts necessary for a career in business (1.1)
  • Critically analyse and produce written disciplinary texts for academic and professional audiences (3.1)
  • Produce oral presentations suitable for academic and/or professional audiences (3.2)

Contribution to the development of graduate attributes

This subject complements the subject ‘Global operations and Supply Chain Management” and builds on the knowledge of the external environment provided in the core subject Integrating Business Perspectives. It provides students studying in the Management, Human Resource Management and International Business majors an opportunity to develop their understanding of innovation and entrepreneurship from a systems perspective. Through a blended process of experiential, engaging and reflective learning, this subject further assures problem based learning skills, added with the ability to manage the development of higher order capabilities for addressing complex operational issues in a real business context.

Teaching and learning strategies

The subject is based on a combination of dynamic and interactive lecture and practical workshop sessions. The lectures involve critical debate and the workshops are built around in-class exercises and presentations. Case studies will be a major component of these lectures and practical sessions. These classes will be supplemented with both printed and electronic learning materials and resources. All students will be provided with the opportunity for initial feedback on their performance in the subject during the first six weeks of the semester, for example, online quizzes, tutorial exercises, draft assignments and other assessment methods. Further feedback will be provided in relation to submitted assessment tasks.

Content (topics)

  • What is creativity and innovation
  • Theories, sources and processes of innovation
  • Innovation strategy, entrepreneurs, funding innovation and managing innovation
  • Innovation capability, policy, clusters and innovation systems
  • Sources of finance for entrepreneurs
  • Opportunity assessment, feasibility analysis and commercialisation
  • Strategic entrepreneurship and intellectual property issues related to emerging ventures
  • Global opportunities and contemporary issues for entrepreneurs and innovators

Assessment

Assessment task 1: Project - Feasibility Studies for Innovative Ideas (Group)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3, 4, 5 and 6

Weight: 30%
Length:

4000 words maximum excluding appendices and references.

Assessment task 2: Design and presentation of Business Model for a New Technology (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3, 4 and 5

This addresses program learning objectives(s):

1.1, 3.1 and 3.2

Weight: 30%

Assessment task 3: Final Examination (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3, 4 and 5

This addresses program learning objectives(s):

1.1 and 3.1

Weight: 40%
Length:

120 minutes

Minimum requirements

To pass the subject, students need to achieve at least 50% of the total marks.

References

Books and Chapters:
Timmons, J.A. and Spinelli, S. (2007), New Venture Creation: Entrepreneurship for the 21st Century, 7th Edition, McGraw-Hill Irwin USA (ISBN: 0-07-310279-2).
Golis, C C, (2002), Enterprise and Venture Capital. (4th ed.).Sydney.
Allen & Unwin, English, J. (2006) How to Organise and Operate a Small Business in Australia (10th ed). Allen and Unwin.
Bessant, John., J. Tidd. J, (2007), Innovation and Entrepreneurship, John Wiley & Sons, Chichester, UK.
Bhide, Amar (2008), The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World, Princeton University Press.
Bygrave. W, A. Zacharakis. A. (2008), Entrepreneurship, John Wiley & Sons Hoboken. New York.
Pattinson, Hugh, Arch G, Woodside (2007), Innovation and Diffusion of Software Technology: Mapping Strategies, Elsevier, Amsterdam.
Friedman, T, The World is Flat, (2005) Penguin Books, London.
Christensen and Raynor, (2003) The Innovators Solution, Harvard Business School.
Prahlad C.K, Krishnan M.S, (2008) The new age of innovation, Tata McGraw Hill.
Smith, D. (2010), Exploring Innovation, 2nd Edition, McGraw Hill.

Academic Journals:
Entrepreneurship: Theory and Practice;
The International Journal of Entrepreneurship and Innovation;
International Journal of Entrepreneurship and Innovation Management;
International Journal of Entrepreneurship and Small Business;
Journal of Entrepreneurship;
Journal of International Entrepreneurship;
Strategic Entrepreneurship Journal;
Foundations and Trends In Entrepreneurship;
The International Entrepreneurship and Management Journal;
Journal of Developmental Entrepreneurship;
World Review of Entrepreneurship;
Management and Sustainable Development.

Selected Online Resources Applicable To NewIdeas And New Ventures Include:
Business Week – Innovation and Design www.businessweek.com/innovation
Innovation – the Magazine of Research and Technology http://www.innovationmagazine.com/
FastCompany Online Guides http://www.fastcompany.com/guides
Wired Magazine http://www.wired.com/
The Space Directory – Top Innovation Resources http://space-directory.com/innovation.cfm
Design and Innovation Using Twitter http://twitter.com/Design_innovate
Google Innovation and Invention http://www.google.com/Top/Science/Technology/Invention_and_Innovation/
Lists of Innovation Blogs – ideaconnection http://www.ideaconnection.com/innovation-blogs/
Innovation Mashup Using Social Media – Socialsignal.com http://www.socialsignal.com/blog/alexandra-samuel/using-social-media-drive-business-innovation-insights-guy-kawasaki-and-targets-michael-axelin
Innovation Wiki http://innovation.wikispaces.com/
Recommended Creativity and Innovation Links – Best100Ideas.com http://www.best100ideas.com/rec-links.shtml
What’s Next: Top Trends - The Diary of a Futurist - observations on current and future trends (managed anonymously by a top International Futurist) http://toptrends.nowandnext.com/
Innovation in China – Innovation 2.0 http://www.grchina.com/mobility/innovation/index.htm.

Other resources

  1. UTS Online: http://online.uts.edu.au
  2. The BELL (Becoming an Effective Lifelong Learner) website provides information, self-testing and links to help you to develop your learning and teamwork skills: www.bell.uts.edu.au
  3. Organising your study, motivating and managing yourself; Contact Student Services: www.uts.edu.au/div/ssu/index.html
  4. Other relevant links are provided on UTSOnline