最新糖心Vlog

Program Director Contact Details:
Entrepreneurship & Innovation
Name: Dr Allan O'Connor
Email: allan.oconnor@adelaide.edu.au


Teaching Staff:

Trimester 1/Semester 1
Name: Dr Wendy Lindsay

Short Bio:
Wendy holds an MBA from Bond 最新糖心Vlog, and a Master of Advanced Business Practice from the 最新糖心Vlog of South 最新糖心Vlog. Her PhD, obtained from The 最新糖心Vlog of Adelaide, adopted a repeated measures longitudinal research design to examine the effects of personal values, entrepreneurial attitude, and entrepreneurial intentions on business start-up behaviour of nascent entrepreneurs. Her research interests include opportunity recognition, entrepreneurial attitude, values, business start-up behaviour, social entrepreneurship, gender issues, family business, well-being/quality of life and cultural influences on business.

Wendy’s academic experience comprises lecturing (face-to-face and online) in the entrepreneurship and innovation discipline at both undergraduate and postgraduate levels at the 最新糖心Vlog of Adelaide, the 最新糖心Vlog of South 最新糖心Vlog, and Bond 最新糖心Vlog. 

Wendy’s business experience includes general management in the professional practice environment, and thereafter through provision of consultancy services to a diverse range of clients. She has founded/co-founded businesses in the areas of financial management, administration, tourism accommodation, e-learning streaming media, offshore entrepreneurship training, Indigenous
entrepreneurial training, and most recently, a registered training organisation. Wendy also enjoys community outreach through the means of her Rotary membership and volunteers with Little Athletics.

Email: wendy.lindsay@adelaide.edu.au

Teaching Staff:
Trimester 3/Semester 2
Name: Dr Allan O'Connor

Short Bio:
Allan is the Academic Director for Innovation and Entrepreneurship at the ECIC and your lecturer for Opportunity Assessment this teaching period.

Allan's industry experience has been largely within the small and medium enterprise sector developing and introducing new products, entering new markets, and expanding sales and business opportunities in both established and new business environments. This experience has exposed Allan to the practical challenges of growth, innovation and entrepreneurship especially with engineered and manufactured goods.

Aside from teaching, Allan is regularly consulted by organisations seeking to enhance entrepreneurial and innovative capacities and he provides research and evaluation services in these areas. For a further insight into Allan's research, visit the Researcher Profile page:

Allan's ambition is to create an Innovation and Entrepreneurship program that attracts and connects people who share a common interest in starting and growing new ventures that provide strong, positive and enduring benefits to the communities we live in.

Email: allan.oconnor@adelaide.edu.au

Opening intensive:
Tuesday 23rd and Wednesday 24th February 2016
9am to 6pm
Ligertwood 113 Teaching Room

Closing intensive:
Thursday 24th and Friday 25th March 2016
9am to 6pm
Marjoribanks 126 Santos Lecture Theatre

At the end of this course a candidate will have learned:

1. Identify the difference between an idea and an innovative business opportunity
2. Articulate a new venture investment proposition and communicate ideas and concepts effectively
3. Build an assessment process for a new opportunity or venture to determine its viability and sustainability
4. Identify the areas of risk in research commercialisation and/or introducing new technologies or other innovationsinto a market
5. Produce a feasibility report for your own or another new venture opportunity
6. Draw conclusions and recommend actions based upon a comprehensive opportunity assessment of a newventure idea

Text book:
Fredrick, Howard, O'Connor, Allan and Kuratko, Donald F. (2016). Entrepreneurship: Theory, Process and Practice, 4rd Edition. Cengage Learning.
ISBN: 9780170352550


Supplemental readings available on MyUni:

Aaker, David A. c2001, 'Competitor analysis', in Aaker, David A., Strategic market management, 6th ed., Wiley, Hoboken, NJ, pp. 56-75.

Carpenter, Mason A., Sanders, W.M. Gerard, Rice, John L. & Martin, Nigel J., c2010, 'Exploring the external environment : macro and industry dynamics', in Rice, John L., Rice, John Lewis & Carpenter, Mason Andrew, Strategic management : a dynamic perspective : concepts and cases, [1st 最新糖心Vlogn ed.], Pearson, Frenchs Forest, N.S.W., pp. 58-95.

English, John W. 2006, 'IDEAS evaluation', in English, John W., How to organise & operate a small business in 最新糖心Vlog : how to turn ideas into success, 10th ed., Allen & Unwin, Crows Nest, N.S.W., pp. 62-84.

Frederick, Howard H. & Kuratko, Donald F. 2010 ‘Ch 5 – Innovation: The Creative Pursuit of Ideas', in Entrepreneurship Theory, Process, Practice, 2nd ed., Cengage Learning , South Melbourne, VIC, pp 154 – 182.

Harper, David A. 2008, 'Towards a theory of entrepreneurial teams', Journal of Business Venturing, vol. 23, no. 6, pp. 613-626.

Kaplan, Jack M. & Warren, Anthony C. 2009, 'Analyzing the market, customers, and competition', in Kaplan, Jack M., Patterns of entrepreneurship management, 3rd ed. /, Wiley, Hoboken, N.J., pp. 65-89.

Kuemmerle, Walter 2002, 'A test for the fainthearted', Harvard Business Review, vol. 80, no. 5, pp. 122-127.

Lehmann, Donald R. & Winer, Russell S. c2005, 'Customer analysis', in Lehmann, Donald R. & Winer, Russell S., Analysis for marketing planning, 6th ed., McGraw-Hill/Irvin, Boston, pp. 120-166.

Morris, Michael, Schindehutte, Minet & Allen, Jeffrey 2005, 'The entrepreneur's business model: toward a unified perspective ', Journal of Business Research, vol. 58, no. 6, pp. 726-735.

Porter, Michael E. c1980, 'The structural analysis of industries', in Porter, Michael E., Competitive strategy : techniques for analyzing industries and competitors, Free Press, New York, pp. 3-33.

Solomon, Michael R. c2004, 'Motivation and values', in Solomon, Michael R., Consumer behavior : buying, having, and being, 6th ed., Pearson Prentice Hall, Upper Saddle River, N.J., pp. 112-147.

Sull, Donald N. 2004, 'Disciplined entrepreneurship', MIT Sloan Management Review, vol. 46, no. 1, pp. 71-77.

Gillin, L. Murray 2011, 'The opportunity : creating, shaping, recognizing, seizing', in Timmons, Jeffry A. (ed.), New venture creation : entrepreneurship for the 21st century : a Pacific Rim perspective, 1st Aust. ed., McGraw-Hill Education, Sydney, pp. 149-199.

Wickham, Philip A. 2006, 'Ch. 13 The entrepreneurial venture and the entrepreneurial organisation -- Ch. 18 The strategy for the venture', in Wickham, Philip A., Strategic entrepreneurship, 4th ed., Financial Times Prentice Hall, New York, pp. 349-373.

There is a broad range of materials that cover and complement many of the topic areas covered in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials.

Candidates may also benefit by consulting the following text:
Timmons, Jeffry A., Gillin, L. Murray, Buhrstein, Sam L. and Spinelli, Stephen Jr. (2011). New Venture Creation: Entrepreneurship for the 21st Century, A Pacific Rim Perspective, 1st Edition. McGraw-Hill 最新糖心Vlog Pty Ltd, North Ryde, NSW.

Library Resources
The 最新糖心Vlog of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the 最新糖心Vlog’s website. The 最新糖心Vlog Library web page is:  
From this link, you are able to access the Library's electronic resources.

MyUni is the 最新糖心Vlog of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the 最新糖心Vlog. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study (see: )

This course is offered in blended learning mode with the face-to-face component offered as intensives.

As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).

Day 1: Introduction and assessing opportunity

Topic	Topic & Content	Preparation
1	Introduction – What’s this course about? - Overview of course and outline of syllabus, assignments and assessment - Confidentiality - Personal backgrounds - Opportunity: the core of entrepreneurial activity - Overview of the elements of an opportunity screen	Frederick, O’Connor and Kuratko 2014, Ch 5
2	Proposing a feasibility study – Might this be a good idea? - Group activity to generate an opportunity proposal - Guidelines for individual presentation in session 2 - Knowing your audience - Recording and assessing assumptions	Frederick, O’Connor and Kuratko 2014, Ch 6 Supplemental Timmons & Spinelli 2009, Ch 5
3	Is there a compelling need? - Problem definition - Needs and wants - Customer motivations	Frederick, O’Connor and Kuratko 2014, Ch 10 Supplemental Solomon 2002, Ch4
4	Are there enough customers? - Customer identification and segmentation - Market Analysis: size, growth & profitability - Customer Reach	Lehman & Winer 2005, Ch5 Kaplan & Warren, 2010 Ch4

Day 2: Assessing sustainability

Topic	Topic & Content	Preparation
5	Is this the right time and right place? - Environment analysis: The importance and impact of environmental factors - Life cycle analysis - The role of innovation	Carpenter et al 2010, Ch3
6	Is the industry favourable? - Who is the customer? - Industry value chain analysis - Channel power and five forces analysis	Frederick, O’Connor and Kuratko 2014, Ch 9 Supplemental Porter, 1979
7	Idea/concept presentations - Individual presentations - Presentation review & discussion	Assignment 1 (Part A)
8	How strong is the competition? - Who are your competitors? - Category mapping - Competitive position	Frederick, O’Connor and Kuratko 2014, Ch 9 Supplemental Aaker 2001,Ch 4 D’Aveni 2007

Day 3: Assessing Capability

Topic	Topic & Content	Preparation
9	Review and Sustainable Business Concepts - Industry analysis: Trends, power and dynamics, competitive forces - Barriers to entry - Thinking about exit	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Carpenter et al 2010 Ch3
10	How can the start-up be funded? - Funding options - Start-up resources - Set-up costs - Fixed and variable ongoing costs - Break-even analysis	Frederick, O’Connor and Kuratko 2014, Ch 15 Supplemental Refer course notes
11	Group assignment presentation	Assignment 2 Group presentation and discussion (ungraded)
12	The entrepreneur and the team - Capabilities and constraints - Personal objectives - Management team - Identifying gaps and building teams	Frederick, O’Connor and Kuratko 2014, Ch 2 Supplemental Kuemmerle 2002. Harper 2008

Day 4: Assessing the risks

Topic	Topic & Content	Preparation
13	Internal Analysis - Vision - Mission - Acquiring resources - Resource based view	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Wickham 2006, Ch18
14	Assessing Strategy - The business model - Internal value chain and other logics - Entry strategy and failing fast	Frederick, O’Connor and Kuratko 2014, Ch 11 Supplemental Sull 2004 Morris, Schindehutte and Allen 2005
15	Resilience (Can the risks be managed?) - Risk Management principles - SWOT analysis - Fatal flaws	Frederick, O’Connor and Kuratko 2014, Ch 11 English 2006, Ch 5
16	Wrap up and review - Review main points - Relationship to the business plan - Strategy and due diligence - Structuring the Opportunity Assessment assignment

This course requires you to present mature and well reasoned work that addresses the assessment of ideas and technologies for feasibility in the 最新糖心Vlogn business context. You will specifically refer to those factors that promote or work against successful opportunity assessment. Of prime importance is to show insight into limitations and risks of any approach you suggest or take – you therefore need to always take a critical stance.

You will need to read more widely on the topic then the list of references provided and beyond hits found on Google; remember this is postgraduate study.

Your work will need to be succinct and you should avoid overly verbose presentations. Do not labour the point, regurgitate theory or address irrelevant issues. Examples or cases may be used, if appropriate, to illustrate your point as they will serve to strengthen your arguments.

You are also required to structure your work so as it flows logically and your reasoning needs to be logical, sound and clear. The proper use of headings, sub-headings, bullet points and paragraphing will assist this purpose. Further, an executive summary or abstract at the beginning of your work will provide a clear overview of what follows in the body of your report.

Keep to the word limits and do not ramble. In every instance present your work as if it is a submission to a Board of Directors – succinct, clear, structured and reasoned.

Assessment Summary Table

Assessment No.	Form of Assessment/ Collaborative Task	Length (in word count)	Weighting	Due Date	Learning objective covered (see 2.1 for detail)
1 New Venture Pitch Assessment	Individual Assignment Summative	Max 1000 words + six (6) assessment forms	25%	see MyUni	1,2
2 Feasibility Study	Group Assignment Formative	Max 3000 words	30%	see MyUni	1,3,4
3 An Opportunity Assessment Framework -	Individual Assignment Summative	Max 3000 words	45%	see MyUni	4-6
	Total		100%

ASSESSMENT 1

Assessment 1: “New Venture Pitch Assessment” (Individual)
Weighting:       25%
Due Date:       see MyUni
Submission Details: Online in MyUni via Turnitin

Task:
This assignment requires you to review any three (at least) new venture pitches from both of the following websites and complete and submit six (6) Investor Pitch Assessment Sheets (three (3) from each website) and answer the two questions detailed below.

Website 1:
Website 2:

The Investor Pitch Assessment Sheet is available for download from MyUni.


Question 1: A sophisticated venture investor is a high net worth individual who is knowledgeable and experienced in weighing the risks and opportunities in a new venture investment proposition. Based upon supporting research and your assessment of the six (6) investor pitches you have chosen to review, in your view, what comprises a great pitch for a sophisticated investor?
Detail what you believe the content should be and recommend an ideal format and/or style of presentation. All supporting research should be cited and referenced.

Question 2: Is it misguided to assume that a feasibility study for an opportunity is sufficient to prepare an investor pitch? Explain why you consider this perception is correct or incorrect. If you consider a feasibility study is inadequate, what else to you deem is required to be prepared to pitch for investment to a sophisticated investor?

Scope:
This assignment will assess your understanding of the course objectives 1 and 2.

Length and Presentation:
The body of the report should not exceed 1,000 words and, in addition, your six Investor pitch reviews must be included as appendices. The report should be submitted as an electronic version in WORD or Adobe Portable Document Files (pdf).

Criteria by which your assignment will be marked:
The report will be assessed against the following criteria:
Comprehensiveness of your Pitch reviews
Correspondence between your review findings with presented research
A logical and thorough recommended pitch format
Professionalism of the presentation of your work (correct cites, references, spelling and grammar etc), and

Learning objectives with this assessment (refer to section 2.1): 1, 2



ASSESSMENT 2

Assessment 2: Opportunity Assessment (Team)
Weighting:       30%
Due Date:         see MyUni
Submission Details: Online in MyUni via Turnitin

Task:
With your team of no more than five members prepare a full Opportunity Assessment and Feasibility Report that outlines the potential of a technology or business concept of your team’s choice to form a new venture. IMPORTANT: This is not a business plan but a comprehensive analysis of a business idea/concept that recommends whether the idea provides an arguable case to proceed with full business planning and business startup activity. Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis.

This can be a "go, no-go, or go-if decision" as long as it is clearly motivated. There are three possible recommendations for the business concept being presented:
Yes, this appears to be a feasible and sustainable opportunity that should proceed to business planning and startup. The report should fully outline the reasons and rationale for this assessment to the reader of the report. Your report should further recommend what actions are next required to capitalise on the opportunity.
No, this is neither a feasible nor sustainable opportunity for business planning and/or startup and is not recommended. The report should fully outline the reasons and rationale for this assessment to the reader of the report. In this case, the report should also suggest a course of action in response to the rejected opportunity. This could include a recommendation on what may be done to reposition the opportunity, an outline of other areas of potential opportunity discovered through the assessment process or actions that might be required in response to others who may detect or seek to exploit the opportunity.
Yes, this may be a potentially feasible and sustainable opportunity and if certain conditions occurred or actions were achieved it should proceed to full business planning and startup. The report should fully outline the reasons and rationale for this assessment to the reader of the report. In this instance, the report should outline the conditions and/or actions that must change or occur in order for the opportunity to be both feasible and sustainable. Where appropriate, the report should also recommend who should undertake further action and by when.

Consider using the frameworks and tools presented in the course.

During the second intensive your team will be given an opportunity to present a fifteen minute progress summary of the market analysis. THIS IS NOT YOUR RECOMMENDATION BUT MERELY A PROGRESS PRESENTATION. The presentation should outline the proposed business concept and then discuss the following points of assessment:
How compelling the need is and whether there is a clear communicable unique selling proposition and customer value proposition
The market differentiation and/or innovation that grounds a competitive advantage
Who the customers and/or end-users might be
How large the projected market capacity could be
An assessment of situational trends and supporting social, political, environment and economic conditions
An assessment of the industry in terms of barriers to entry, potential competitive threats, switching costs, bargaining power, risk of new entrants and substitutes, and market maturity.

Base this presentation on clearly articulated conclusions drawn from your research and analysis.

Scope:
This assignment will assess your understanding of the course objectives 4, 5 and 6.

Length and Presentation:
The body of the report should not exceed 3,000 words; however, appendices may be used for supporting documents or analysis to the extent that is appropriate. The report should be submitted as an electronic version in WORD or Adobe Portable Document Files (pdf).

Criteria by which your assignment will be marked:
The standards by which the assignment will be assessed include:
Ability to find, access and interpret supporting material relating to the assessment
Ability to apply the assessment tools and principles presented in the course
Originality and ability to report your findings in a clear succinct manner
Ability to draw sound conclusions from your investigation
Ability to make clear recommendations based on the analysis and conclusions
The inclusion of customer and/or market validation research
The extent to which assumptions have been validated
Professional and businesslike presentation (including correct citations and references, spelling, grammar etc)

NOTE: Grading of this report is not a validation of the idea or business opportunity. Assessment is based upon your analysis of the idea and how will that analysis is used to argue your conclusions.

Learning objectives with this assessment (refer to section 2.1): 4, 5, 6



ASSESSMENT 3

Assessment 3: Opportunity Assessment Framework (Individual)
Weighting:       45%
Due Date:         see MyUni
Submission Details: Online in MyUni via Turnitin

Task:
Based on desk research and possible interviews with knowledgeable people, develop an Opportunity Assessment Framework that can be used to validate a venture idea/concept suitable for a specific end user. This may be developed specifically for a technology or industry sector, a venture capitalist, an angel investor, a social venture funder or a tool developed for your own purposes. In any case, this assignment requires you to research and identify at least three alternate methodologies suitable for your purpose of assessing new venture ideas and concepts. An example of one such methodology is the Timmons Quickscreen. From your analysis of the alternate methodologies, draw together, justify and demonstrate how and why the various assessment framework methodologies differ and identify the aspects that are most useful for your purpose. Conclude your assignment by recommending and proposing a methodology for assessing ideas and new venture opportunities fit for your designated purpose.

Scope:
This assignment will assess your understanding of the course objectives 1, 3 and 4.

Length and Presentation:
Reports are to be posted to the MyUni grade centre.
The body of the report should not exceed 3,000 words; however, appendices may be used for supporting documents or demonstration of analysis to the extent that is appropriate. The report should be submitted as an electronic version in WORD or Adobe Portable Document Files (pdf).

Criteria by which your assignment will be marked:
The standards by which the assignment will be assessed include:
Ability to find, access and interpret available literature
Ability to recognise important aspects of concept validation
Ability to present principles in an originality, succinct and useable format
Professional presentation (including correct citations and references, spelling, grammar etc)
Completeness and coverage of the Opportunity Assessment Framework

Learning objectives with this assessment (refer to section 2.1): 1, 3, 4

All text based assignments must be submitted via MyUni.
Please refer to step by step instructions:

There are a few points to note about the submission of assignments:

• Assignment Submission:  Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
• Cover Sheet:  Please submit, separate to your assignment, the completed 最新糖心Vlog of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work.  Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
• Backup Copy of Assignments:  You are advised to keep a copy of your assignments in case the submitted copy goes missing.  Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
• Extensions of Time:  Any request for an extension of time for the submission of an assignment should be made well before the due date of the assignment to the Course Lecturer.  Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date.  Extensions will only be granted in cases of genuine extenuating circumstances and proof, such as a doctor’s certificate, may be required.
• Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade.  Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in section 5.2 or 5.3).  Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.