48270 Entrepreneurship and Commercialisation
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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 2024 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 120 credit points of completed study in Bachelor's Degree owned by FEIT OR 120 credit points of completed study in Bachelor's Honours Embedded owned by FEIT OR 120 credit points of completed study in Bachelor's Combined Degree owned by FEIT OR 120 credit points of completed study in Bachelor's Combined Honours owned by FEIT OR 120 credit points of completed study in Bachelor's Combined Honours co-owned by FEIT OR 120 credit points of completed study in Bachelor's Combined Degree co-owned by FEIT
Description
This later stage undergraduate subject develops students' understanding of the various roles within an enterprise, using a business planning framework to present topics such as strategy, marketing, operations, personnel, and finance. This subject has strong practical orientation, using contemporary case studies to broaden students' perspectives and demonstrate the application of the concepts covered. This subject is taught just before students enter the commercial world, to provide engineering students with insight into the other functions of an organisation, and allow them to communicate more effectively with those roles.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Analyse a market or industry in order to identify opportunities for innovation. (B.1) |
|---|---|
| 2. | Propose and design a new product or service in relation to current opportunities. (C.1) |
| 3. | Analyse the viability of a new product or service and develop a business plan. (D.1) |
| 4. | Present documentation, and communicate with stakeholders on a new product or service. (E.1) |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following Course Intended Learning Outcomes (CILOs):
- Socially Responsible: FEIT graduates identify, engage, interpret and analyse stakeholder needs and cultural perspectives, establish priorities and goals, and identify constraints, uncertainties and risks (social, ethical, cultural, legislative, environmental, economics etc.) to define the system requirements. (B.1)
- Design Oriented: FEIT graduates apply problem solving, design and decision-making methodologies to develop components, systems and processes to meet specified requirements. (C.1)
- Technically Proficient: FEIT graduates apply abstraction, mathematics and discipline fundamentals, software, tools and techniques to evaluate, implement and operate systems. (D.1)
- Collaborative and Communicative: FEIT graduates work as an effective member or leader of diverse teams, communicating effectively and operating within cross-disciplinary and cross-cultural contexts in the workplace. (E.1)
Contribution to the development of graduate attributes
Engineers Australia Stage 1 Competencies
This subject contributes to the development of the following Engineers Australia Stage 1 Competencies:
- 1.5. Knowledge of engineering design practice and contextual factors impacting the engineering discipline.
- 3.3. Creative, innovative and pro-active demeanour.
Teaching and learning strategies
Each week will have a 1 hour Lecture and 2 hour tutorial. During the lecture, related management concepts and theories will be introduced with an opportunity to ask question and interact. During the tutorials, various articles and case studies will be discussed to relate the theory to real-world applications. Each week will follow the content from reference books and other readings listed in this subject outline and subject resources in Canvas.
These activities require students to read the reference books and the articles, and to actively participate in discussions. General feedback will be provided during the tutorials and personalised feedback can be arranged during the consultation hours / drop-in sessions.
Content (topics)
Business Plan Overview
Global Competitiveness
Entrepreneurship
Products and Services
Strategic Analysis
- Market Analysis
- Competitive Analysis
- Environment Analysis
- SWOT Analysis
Direction
- Setting Direction and Objectives
- Competitive Advantage
Marketing
- Product development
- Intellectual Property Protection
- Pricing
- Distribution and Sales
- Promotion
- Market Research
Personnel
- Personality Characteristics
- Entrepreneurial Characteristics
- Organisation Structure
- Organisation Culture
- Leadership
- Integration
- Ownership
Assessment
Assessment task 1: Market Analysis
| Intent: | To understand a particular market and its competition. Based on the situation of the market, this assessment will prepare students to identify new opportunities for a start-up or an existing business and possible threats before starting a business plan. |
|---|---|
| Objective(s): | This assessment task addresses the following subject learning objectives (SLOs): 1 and 3 This assessment task contributes to the development of the following Course Intended Learning Outcomes (CILOs): B.1 and D.1 |
| Type: | Report |
| Groupwork: | Individual |
| Weight: | 25% |
| Length: | 1200 – 2000 words |
Assessment task 2: Video Pitch
| Intent: | To explore opportunities in a particular market and pitch verbally (video format). This assessment will also allow students to understand existing problem and present solution as opportunity in the chosen market. |
|---|---|
| Objective(s): | This assessment task addresses the following subject learning objectives (SLOs): 2 and 3 This assessment task contributes to the development of the following Course Intended Learning Outcomes (CILOs): C.1 and D.1 |
| Type: | Presentation |
| Groupwork: | Individual |
| Weight: | 10% |
| Length: | Two-minute video |
Assessment task 3: Business Plan
| Intent: | To develop a business plan for a start-up business or a new product or service of an existing business. |
|---|---|
| Objective(s): | This assessment task addresses the following subject learning objectives (SLOs): 1, 2, 3 and 4 This assessment task contributes to the development of the following Course Intended Learning Outcomes (CILOs): B.1, C.1, D.1 and E.1 |
| Type: | Report |
| Groupwork: | Group, group and individually assessed |
| Weight: | 40% |
| Length: | 5,000 - 9000 words and appendices |
Assessment task 4: Pitch and Viva Voce
| Intent: | To test the understanding of concepts covered in the subject and working through the business plan. |
|---|---|
| Objective(s): | This assessment task addresses the following subject learning objectives (SLOs): 1, 2, 3 and 4 This assessment task contributes to the development of the following Course Intended Learning Outcomes (CILOs): B.1, C.1, D.1 and E.1 |
| Type: | Presentation |
| Groupwork: | Individual |
| Weight: | 25% |
| Length: | 2-minute Pitch plus 5 minutes for oral exam |
Minimum requirements
In order to pass the subject, a student must achieve an overall mark of 50% or more.
Recommended texts
Burns, Paul, A New Venture Creation: A framework for entrepreneurial start-ups, 2nd Edition, 2018, Macmillan Intl.
Barringer, Bruce R and Ireland, R. Duane, Entrepreneurship: Successfully Launching New Ventures, Global Edition eBook, 6th Edition 2019, Pearson
References
Christensen, S.H., Delahousse, B., Didier, C., Meganck, M. and Murphy,M. (Editors), The Engineering-Business Nexus: Symbiosis, Tension and Co-Evolution, Philosophy of Engineering and Technology, Volume 32. Springer Nature 2019 https://doi.org/10.1007/978-3-319-99636-3
Hallam, C and Flannery, W., Engineering the High Tech Start Up, Volume i and ii, 2018 Momentum Press.
Marburger, D., How Strong is Your Firm's Competitive Advantage, 2nd Edition, Business Expert Press
Malhotra N., Basic Marketing Research, 4th Edition, 2012 Prentice Hall.
Grant R. and Jordan J. Foundations of Strategy, 2nd Edition, 2015 Wiley.
Grant R. Cases to Accompany Comtemporary Strategy Analysis, 7th Edition, 2010 Wiley
Manyika J. McKinsey, Disruptive Technologies www.mckinsey.com 2015
Wild J., Subramangam K., Financial Statement Analysis, 11th Edition, McGraw-Hill Irwin 2014
Dessler G., Human Resource Management, 12th Edition, Prentice Hall 2011
Dorf R. and Byers T., Technology Ventures, From Idea to Enterprise, McGraw-Hill Irwin 4th Edition 2015
Pickton D., Integrated Advertising, Promotion and Marketing Communications, Pearson, 6th Edition 2014
The Global Competitiveness Report 2019, World Economic Forum, reports.weform.org 2019
Trott P. Innovation Management and new product development, 6th Edition 2017
Lerner J., Hardyman, F. and Leamon, A. Venture Capital and Private Equity; A Casebook, 5th Edition 2012.
Bygrave W. and Zacharakis, A., Entrepreneurship. 3rd Edition.Wiley 2014
Hisrich R. Entrepreneurship, McGraw-Hill Irwin 9th Edition 2013
Kingston W., Beyond intellectual property: matching information protection to innovation, Cheltenham UK 2010
Osterwalder, A. and Peigner, Y. "Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers" 2010.
Thiel, P. "Zero to One: Notes on Startups, or How to Build the Future" Crown Publishing Group, 2014.
van der Pijl, P., Lokitz, J. and Solomon, L.K. "Design a Better Business: New Tools, Skills and Mindset for Strategy and Innovation" Wiley 2016.
Kotler P., Marketing. Prentice Hall 8th Edition 2013
Stanford N. Corporate Culture, Wiley 2011
Clegg, S., Kornberger, M. and Pitsis, T. Managing & Organizations: an introduction to theory and practice, 4th Edition, Sage 2016.
Mello J., Strategic Human Resource Management,4th Edition, Thomson 2015
Global Entrepreneurship Monitor, New GEM Global Report 2020/2021 www.gemconsortium.org
Slack N., Brandon-Jones, A. and Johnston R., Operations Management, 8th Edition, Pearson Education, Latest Edition 2016
Spinelli, S. and Adams, R., New Venture Creation: Entrepreneurship for the 21st Century, 10th Edition; McGraw-Hill Latest Edition 2016
Thompson A., Peteraf, M., Gamble J. and Strickland A., Crafting and Executing Strategy, The Quest for Competitive Advantage, 21st Edition McGraw-Hill Irwin 2018