21061 Business Model Generation (Project)
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Credit points: 6 cp
Subject level: Undergraduate
Result type: Grade and marksThere 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)
| 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:
- Synthesise knowledge of the rights, values and perspectives of Indigenous people with socially responsible business practice (3.2)
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 collaboration
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 |
|---|---|
| Weight: | 20% |
| Length: | 10 minutes + 10 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: | 2500 words, not including references and any appendices. |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 3: Reflective review (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 20% |
| Length: | Each video should be a maximum of 10 minutes. Each student will participate in two videos (in one video as the interviewer and in one video as the interviewee). Marks will be allocated based on participating in two videos. |
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
- Osterwalder, A. & Pigneur, Y. 2010. Business Model Generation: A Handbook For Visionaries, Game Changers, And Challengers, Wiley.
- Liedtka, J. & Ogilvie, T. 2012. Helping Business Managers Discover Their Appetite For Design Thinking. Design Management Review, 23, 6-13