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21061 Business Model Generation (Project)

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 2019 is available in the Archives.

UTS: Business
Credit points: 6 cp

Subject level: Undergraduate

Result type: Grade and marks

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

Description

This subject is the last in a series of applied subjects within which students leverage their discipline knowledge to innovate new approaches for solving components of a big picture problem. Students work collaboratively to apply skills of design-led innovation, and creative enterprise to develop solutions that catalyse social purpose into the real world of business.

The aim of the subject is to equip students with the necessary skills and techniques to further develop an initial entrepreneurial idea into a viable business opportunity. Students produce conceptual and/or working prototypes of, for example, new social media applications, intelligent objects, smart services or integrated products or services, that could be the seed for a business at the end of the session. As well as developing a specific solution to an innovation problem, students develop and test a number of alternative business models.

The subject is part of an embedded mentoring program set up to support the entrepreneurial proposals and develop them into feasible prototypes and start ups. Students have access to industry and academic mentors who help shape the proposals. To facilitate these discussions and provide an environment for exchange of entrepreneurial ideas students work in a studio environment.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Develop and test a series of prototypes and demonstrate a bias towards action
2. Develop and verify the potentials of alternative Business Models
3. Collaborate with students and mentors from both university and industry
4. Create a business proposal and develop appropriate materials to pitch (communicate) it to a potential investor

Course intended learning outcomes (CILOs)

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

  • Communicate orally to a variety of audiences including academics, professional audiences and indigenous communities (3.2)
  • Demonstrate the capacity to work in teams in an inclusive manner and critically reflect on the contribution of yourself and others in team processes (3.3)

Contribution to the development of graduate attributes

Business Model Generation is a capstone subject. The subject builds upon earlier projects in the course and continuous to addresses specific current business opportunities with the objective of developing a feasible business model. This could either result in a start-up business idea or a new business opportunity for an existing organisation. Particular attention is paid to the importance of a human centres and design-led approach to business model generation, which includes an iterative approach to testing and verifying prototypes of new products or services. The subject develops the student's ability to work in teams, engage with a range of stakeholders including e.g. customers, suppliers, funding bodies, and mentors, as well as the ability to create and test new products and services or significantly improving existing ones.

This subject contributes to the development of the following graduate attribute:

  • Communication and interpersonal skills

Teaching and learning strategies

The subject is presented in seminar format. Essential principles are presented and analysed and students are lead through practical application exercises.

Content (topics)

  • Prototyping
  • Product and service testing and evaluation
  • Business model generation
  • Resource planning
  • Presentation and ideas pitching

Assessment

Assessment task 1: Project pitch and proposal (Group)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

This addresses program learning objectives(s):

3.3

Weight: 20%
Length:

10 minutes + 5 minutes Q&A

Assessment task 2: Project report and Presentation (Individual/Group)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

This addresses program learning objectives(s):

3.2

Weight: 60%
Length:

15 pages

Assessment task 3: Reflective review (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 20%
Length:

Each student will participate in two 10 minutes video interviews (as interviewer and interviewee).

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Recommended texts

Osterwalder, A. & Pigneur, Y. 2010. Business Model Generation: A Handbook For Visionaries, Game Changers, And Challengers, Wiley.

References

  1. Osterwalder, A. & Pigneur, Y. 2010. Business Model Generation: A Handbook For Visionaries, Game Changers, And Challengers, Wiley.
  2. Jakovich, J., Schweitzer, J., Edwards, M. (2012) Practicing - U.lab Handbook Of Design-led Innovation, Freerange Press, Sydney, Isbn: 978-0-9808689-2-0
  3. Liedtka, J. & Ogilvie, T. 2012. Helping Business Managers Discover Their Appetite For Design Thinking. Design Management Review, 23, 6-13