成人大片

Program Director Contact Details:
Innovation and Entrepreneurship
Name: Gary Hancock
Phone: +61 8 8313 0125

Teaching Staff:
Name: Shane Cheek

Short Bio:
Shane has 15 years experience in technology commercialisation and venture capital. He is Managing Partner of Acumen Ventures, an early stage venture capital fund, and Managing Director of Method Advisory, a boutique corporate advisory firm based in South Australia.

Previously, he was an Investment Manager with Playford Capital, an Australian based venture capital fund.

Prior to this he was State Manager with the Australian Institute for Commercialisation where he provided corporate advisory and commercialisation advice to high growth companies in industries including automotive engineering, medical devices, environmental sciences, geospatial imaging and mining technology.

For several years he worked in university technology transfer and business development roles and founded a technology commercialisation company which specialised in the energy, utilities and waste processing industry.

He holds an undergraduate business degree from the University of South Australia and a Master of Science & Technology Commercialisation from the 成人大片. Shane is an Adjunct Faculty member of Carnegie Mellon University and lectures Entrepreneurship at the 成人大片.

Email:shane@acumenvc.com

Phone: +61 401 095 999

Opening intensive:
Friday 27 May 2016 7pm-10pm
Saturday 28 May 2016 1pm-8pm
Sunday 29 May 2016 9am-4pm

Closing intensive:
Friday 17 June 2016 7pm-10pm
Saturday 18 June 2016 1pm-8pm
Sunday 19 June 2016 9am-4pm

Examination:
Saturday 9 July 2016

The overall aim of this course is to enable students to:

1. identify and analyse a range of strategic tools and resources for entrepreneurship
2. understand the range and benefits of resource acquisition;
3. have a sound understanding of the entrepreneurial model for careers.
4. understand the different types of strategies depending on the context, in particular the innovative and entrepreneurial contexts

At the end of this course, students should have an appreciation of the following:

5. the concepts of strategy, and formulation of strategy in the innovative and entrepreneurial contexts;
6. identifying strategic resources and ascertaining the most appropriate means of accessing the resources needed
7. preparing a strategy and resource plan that is suitable for a innovative venture that is operating in an entrepreneurial environment

No required text book.

Library Resources
The 成人大片’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 University’s website. The University Library web page is:  
From this link, you are able to access the Library's electronic resources.

MyUni is the 成人大片's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. 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).

This is a draft schedule and session dates are a guide only. The timetable may be changed during the course delivery if necessary.

Intensive day	Content	Activities
1	Setting the foundations: · What is strategy · Personal versus business strategy · Types of resources · Relationship between strategy and resources	Preparation: • Write your “About Me” entry in the discussion board on MyUni. • Subscribe to SmartCompany (it’s free) and read the article “The Top 10 Start-up Vows” • Read “The questions every entrepreneur must answer” (Bhide, 1996) and come to class ready to discuss what it means to you.
2	Getting the timing right: · Product life cycle and window of opportunity · Environmental analysis (PEST) · Identifying gaps in markets	Preparation: · Read “Creating new market space” (Kim & Mauborgne, 1999)
	Developing a market entry strategy: · What business are you in? · Identifying competitors and substitutes · Porter’s “Five Forces” analysis	Preparation: · Read “The five competitive forces that shape strategy” (Porter, 2008)
3	Risk and reward in innovation: · Incremental versus radical innovation · Sources of risk and reward · Assessing innovation risk for existing businesses	Preparation: · Read “Is it real? Can we win? Is it worth doing? (Day, 2007)
	Resources to execute strategy: · Identifying resource needs · Sources of resources · Mapping your networks · Using networks	Preparation: · Review (skim) “Entrepreneurial embeddedness and innovativeness in the start-up process” (Klyver, 2008) Activity · Finalise teams for team assignment
4	Matching strategy and resources: · SWOT/TOWS analysis · Articulating your strategy	Preparation: · Read “Can you say what your strategy is?” (Collis &Rukstad, 2008) · Overview of SWOT/TOWS analysis (link on MyUni) Background reading: · “The TOWS matrix: a tool for situational analysis” (Weihrich, 1982)
5	Where is the value? · Mapping the value chain · Identifying the greatest value add · Value configurations · Developing the business model	Preparation: · Read “Why business models matter” (Magretta, 2002) Background reading: · “Configuring value for competitive advantage” (Stabell&Fjeldstad, 1998)
	Human resources: · The founding team · Dividing ownership · Employees, contractors and outsourcing · Professional and informal advisors	Preparation: · Read “Building the founding team” (Bygrave&Zacharakis, 2008, Entrepreneurship, Chapter 6)
6	Bootstrapping: · What resources do you really need? · Minimising resource needs · Maximising cash flow · Getting resources without cash	Preparation: · Read “Bootstrap finance: the art of start-ups” (Bhide, 1992)
	Debt and equity finance: · Differences between debt and equity · Raising debt finance · Principles of equity finance	Preparation: · “How Venture Capital Works” (Zider, 1998)

An overview of the course assessment appears in the following Table. Details appear in the following section:

#	Assessment	Length	Weighting	Due Date	Learning Outcomes
1	Individual assignment: personal resource networks	1500 words	30%	see MyUni	1,3,6,7
2	Team project report: entrepreneurial strategy and resource plan	5000 words	30%	see MyUni	1,2,3,4,6,7
3	Individual exam: case study report	3 hour exam	30%	see MyUni	5,6,7
4	Class participation		10%
	Total		100%

Students should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.

Course results are subject to moderation by the ECIC Board of Examiners

Assessment 1: Individual assignment - leveraging personal networks to acquire resources
Weighting: 30%
Due Date: see MyUni
Submission Details: Online through My Uni

Task:
The overall task is to use your personal networks to access resources for an entrepreneurial business idea of your own. There are two components to this task:

Map your personal networks in the form of a mind map. Mind-mapping will be discussed in class. Hand-drawn mind-maps are acceptable, but there are numerous mind-mapping software products, some of them available as freeware, which you should consider using. This component of the assignment should be completed before the second intensive study session commences. Bring a copy of your mind-map to the first class.

Choose a new business idea you are interested in investigating and see how many resources you can identify for this idea through your personal networks. You may wish to set up social networking sites, such as Facebook or Myspace to focus these networks. Aim to identify as many potential resources as possible that can be obtained without involving any financial payment – without, of course, acting illegally or unethically!

Your written assignment should report on the results of your project, identifying what resources were initially identified as required, what resources you were able to obtain through your networks, the anticipated costs, and which networks proved the most valuable in finding resources.

Scope:
This assignment will assess your understanding of the course topics of: personal networks; leveraging networks; and bootstrapping new ventures.

Length and Presentation:
Approximately 1500 words covering the following:
1. A brief outline of your new business idea
2. What resources you initially believed this idea would require, together with a very rough estimate of their cost.
3. How you went about seeking resources using your personal networks and the results obtained. Include an explanation of how you decided which networks to use and how you chose to go about seeking resources through these networks.
4. Compare your initial resource list and estimated cost with the available resources you were able to identify through your networks and reflect on the outcomes. Was it harder or easier to find resources than you expected? Was the cost higher or lower than you expected? Which networks and techniques worked best? Did these results surprise you? What would you do differently next time?
5. A copy of your personal network mind-map as an attachment (not part of the word limit)
The bulk of your report should be spent on items 3 and 4.

Criteria by which your assignment will be marked:
Detailed marking criteria will be supplied on the MyUni site prior to the second intensive study period.
• Completion of a mind-map of personal networks. This is a hurdle requirement. The mind-map itself is not graded, but it must be completed in order to pass this assignment.
• Clear explanation of the original business idea and overview of the resources required and rough costs. Ability to communicate a business idea clearly is crucial to attracting resources.
• Identification of a wide range of personal networks, including any new ones established during the period of the assignment.
• Evidence of a proactive approach to using networks to find resources.
• Clear story of how networks were used to seek resources, including reasons for prioritising particular networks or not using others.
• Depth of reflection on the experience and what was learned from it.
Bonus marks may be awarded for success in attracting genuine resources for a genuine new business venture.
Learning objectives with this assessment (refer to section 2.1): 6,7,3,1



Assessment 2: Team Strategy and Resourcing Report
Weighting: 30%
Due Date: see MyUni
Submission Details: Online through My Uni

Task:
Working in a team of 3 to 5 people (4 is the recommended number), select an idea for a new business based on an identified market need. This may be based on a real business you are thinking of starting, or even running at the moment. It may also be based on a new business opportunity for a company you work for. If it is for an existing business, you should take into account the resources available to the business, as well as to the members of the student team.

Using the strategic analysis techniques taught in this course, analyse the business idea and identify possible strategies for launching it as a new venture (or new business unit within an existing company). Briefly explain each potential strategy and outline the main resources it would require.

Using the techniques covered in this course for resource acquisition, identify the resources available to your team, including those that can be acquired for payment, and examine their fit with the identified strategies for launching the venture.

Match strategy and resources to develop a business model for launching the new venture. Explain this business model, clearly identifying the strategic approach and the reasons for selecting it. Clearly identify the main resources required and how you would go about obtaining them, including costs involved. You do not need to develop a plan to launch the business.

Scope:
This assignment will assess your understanding of the relationship between strategy and resources. It will test your understanding of the strategic analysis techniques covered in the course, and your ability to apply them to a real life business idea, where knowledge is always incomplete and reasonable assumptions must be made. It will allow you to explore the resourcing constraints and opportunities in launching a new venture and embed your understanding of the value of personal networks.

Length and Presentation:
Approximately 5000 words explaining the strategy your team has developed for launching your business idea and the resources that will be required and why you selected this strategy. If you have been unable to develop a strategy you believe would be successful, then you should explain why you believe it is not possible to make this business idea into a profitable business and whether it would be possible for a different team / company to do so.

1. The Idea: Brief explanation of the original business idea and the market need it addresses
2. The Market Dynamics: What market does this business idea belong in? [Who else competes to meet this need?] What strategies for market entry have you identified? Analyse potential markets using Porter’s Five Forces, PEST and Product Life Cycle. What are the most significant obstacles and threats? Where are the most profitable opportunities?
3. Resource Needs and Availability: What skills and resources are available to the team (or company)? What resources can they obtain through personal networks or on the open market?
4. Strategy and Resource Fit: Assess the fit between the strategies and resources using a SWOT/TOWS analysis. Which strategy requires least resources for most reward? Select the most promising strategy and explain why it was chosen. Identify any significant assumptions you have made and explain why you believe they are justified.
5. Business Model: Map the supply chain for the business, identifying all significant suppliers, customers and distribution channels (for example, don’t include minor suppliers such as telephone or electricity). Explain how your business model makes sense in that a) there is a value-add for every significant component of the supply chain and that b) the model will allow you to make a profit. Again, identify and justify any significant assumptions. [If you are unable to identify a business model that makes sense, explain the fatal flaw that prevents it from working]
6. Conclusion: Having analysed the strategies and resources to bring your team’s business idea to market, do you believe it makes strategic sense to pursue it? Would it be profitable enough to be worth the effort involved? If you fail to develop a business model that makes sense [item 5 above], assess whether some other team or company, with access to different resources could make it work, or whether the idea contains some fundamental flaw that prevent it succeeding (e.g. too small a market, legal problems). Explain your conclusion.

Criteria by which your assignment will be marked:
Detailed marking criteria will be supplied on the MyUni site prior to the second intensive study period.
· Clear explanation of the original business idea and the market need it meets. Ability to communicate a business idea clearly is crucial to developing a realistic strategy and attracting resources.
· Clear identification of potential markets and the buyers, suppliers, competitors, potential competitors and substitutes in that market (elements of the Porter 5 Forces analysis). Understanding what market your idea belongs in and who else operates in that market is crucial to developing strategies.
· Demonstrated understanding of what questions the analysis tools can help to answer.
· Demonstrated ability to use analysis tools correctly and to interpret the results.
· Development of a business model that makes sense based on analysis of strategy and resources
OR
· Explanation of why it is not possible to develop a business model that makes sense and what conditions would need to change in order to be able to do so.

Learning objectives with this assessment (refer to section 2.1): 6,7,3,4,2,1



Assessment 3: Individual exam – case study
Weighting: 40%
Due Date: see MyUni
Submission Details:
Completed on paper in the timeframe of the exam. Worksheets will be provided as relevant.

Task:
At the commencement of the exam, you will be given a case study on a real business to read, analyse and report on. You are permitted to bring text books, notes and articles with you to the exam.

You have three hours to complete the exam, including the time to read the case study. You are advised to spend no more than 30 minutes reading the case study.

The exam will be a written report on the case addressing specific questions in the exam paper concerning strategy and resourcing. You will be asked to analyse the case using specific techniques taught in the course and to draw conclusions from your analysis. Worksheets will be provided, where relevant.

Scope:
This assignment will assess your understanding of the course topics and your ability to apply them to a real business situation, working alone.

Length and Presentation:
Three hour exam

Criteria by which your assignment will be marked:
Criteria will be specific to each element of the exam paper, but in general, the criteria used to assess exam work are:
· Ability to apply analysis techniques using data from the case study
· Ability to interpret analysis and draw reasonable conclusions regarding strategy, resources and fit between the two.
· Ability to use conclusions of analysis to develop recommendations on strategy and resourcing, based on the facts presented in the case.

You are not expected to do any additional research beyond the data presented in the case study, however you may find it useful to refer to articles that have been covered in the course.

Learning objectives with this assessment (refer to section 2.1): 6,7,5

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 成人大片 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 'Assessment Related Requirements' or 'Assessment Detail' above).  Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

Resubmission & Remarking
Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted.  Approval for resubmission will only be granted on medical or compassionate grounds.