21854 Innovation and Entrepreneurship

Subject level: Postgraduate

Handbook description

This subject presents students with a perspective on new, small and innovative enterprise in comparison with the traditional large, bureaucratic and conservative organisation. An understanding of innovation and new venture creation is provided. Students gain an appreciation of the challenges and problems of small business and develop the skills valuable for a career in small to medium enterprises.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Understand the process of new venture creation and innovation in the development of a healthy economy.
2. Understand the interrelationship between marketing, supply, manufacturing, personnel and finance in the successful start up and on going operation of a new business venture.
3. Demonstrate the capacity to assess the viability of a new business concept.
4. Assess their own suitability as a potential entrepreneur or for a career in a small and medium enterprise.
5. Identify opportunities for, and appreciate the need for, strategic alliances and partnerships in business.

Contribution to graduate profile

The aim of this conceptual and decision-making subject is to provide you with the competencies and skills necessary for understanding, implementing and then managing the entrepreneurial innovation process so as to ensure the long-term viability and success of an enterprise operating within a highly competitive environment. Thus, you will then be in a better position to more readily understand, communicate and materially contribute to the purpose of the organisation. The objective of this course is to give you a fuller understanding of the contemporary business environment in which business operates and how decision-making processes; leadership and organisational politics impact on the strategic activities of managers.

Teaching and learning strategies

Classes will involve a combination of lectures, video analysis, role-plays and simulation exercises. The UTS web-based communication tool (UTS Online) will be used to share information and encourage interaction between staff and students.

Content

• Defining the Entrepreneur
• Innovation
• Creativity and Innovation
• Intellectual property protection
• Team building and Networking
• Business Planning
• Business Plan Elements
• Operations and Organisation Issues
• Entrepreneurship and Innovation in 'e-business'.

Assessment

Recommended text(s)

Timmons, J A, Dingee, Jnr, A L M, and Smollen, L E, (1999) New Venture Creation - Entrepreneurship for the 21st Century. (5th ed.) Boston:Irwin.

Indicative references

Allen, K R Launching New Ventures – An Entrepreneurial Approach, Houghton Mifflin 1999

Golis, C C, (1998).Enterprise and Venture Capital. (3rd ed.).Sydney:Allen and Unwin,

Dollinger, M, (1995).Entrepreneurship: Strategies and Resources, Homewood,IL:Austen Press

Hisrich, R, and Peters, M, (1995) Entrepreneurship: Starting, Developing and Managing a New Enterprise. (3rd ed.) Boston:Irwin

Kuratko, D F, and Hodgetts R M (1998) Entrepreneurship A Contemporary Approach. (4th ed.)Orlando Harcourt Brace

Legge, J and Hindle, K (1997).Entrepreneurship-How Innovators Create the Future. Melbourne:MacMillan Education

Stevenson, H H, Grousbeck, H I, Roberts, M J and Bhide A (2000) New Business Ventures and the Entrepreneur. (5th ed.) Irwin/McGraw-Hill.