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21227 Managing Innovation and Entrepreneurship

UTS: Business: Management
Credit points: 6 cp

Subject level: Undergraduate

Result Type: Grade and marks

Handbook description

The aim of this conceptual and decision-making subject is to provide students with the competencies and skills necessary for understanding, implementing and then managing the entrepreneurial innovation process within a highly competitive global environment. Entrepreneurship/intrapreneurship is more than the mere creation of a new business. Seeking opportunity, taking risks and having the tenacity to push ideas into reality are special characteristics that permeate entrepreneurial individuals. Entrepreneurship is an integrated concept that has revolutionised the way business is conducted. Students are required to study how winning entrepreneurs think, act and perform.

Subject objectives/outcomes

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

  1. gain an understanding of the process of new venture creation, social entrepreneurship and intrapreneurship within existing organisations and its value in the development of a healthy economy
  2. define, develop and administer a strategy and structure for promoting innovation
  3. map the value stream arising from interrelationship between marketing, supply, manufacturing, personnel and finance in the successful start up and on going operation of a new business venture and of existing businesses
  4. identify the fundamental determinants of competitive advantage in entrepreneurial endeavours
  5. develop a broad perspective on the dynamic interface between the small business and larger firms collaborating to conduct business activities in various forms of strategic alliances and be able to demonstrate the capacity to assess the viability of a new business concept or an existing business enterprise and to develop an internationalisation plan for such ventures.

Contribution to graduate profile

This subject forms part of the core of the Management Major and Management Consulting Sub-Major in the Bachelor of Business. It contributes to the objectives of these majors by developing skills, understandings and appreciation of the role new enterprise and small business play in the development of a healthy economy. It presents students with an innovation perspective on new, small, large or social entrepreneurial ventures. By giving students an appreciation of the challenges and problems of innovation and entrepreneurial endeavours, they become equipped as effective participants in the economy be it as entrepreneurs or management consultants.

Teaching and learning strategies

The format of weekly sessions will be in seminar format consisting of lectures and/or guest speakers or videos in the first half of class followed by workshop/tutorials with the various groups.

Content

  • Creativity and innovation
  • Developing corporate entrepreneurship
  • Ethics and social entrepreneurship
  • Opportunity assessment, feasibility analysis and commercialisation
  • Intellectual property issues related to emerging ventures
  • Sources of finance for entrepreneurs
  • Strategic entrepreneurship for emerging ventures
  • Global opportunities for entrepreneurs
  • Contemporary issues in entrepreneurship

Assessment

Assessment item 1: Mid term Exam (Individual)

Objective(s): 1-5
Weighting: 40%
Task: This will assess the student's ability to understand both the theoretical and practical rationale for establishing and operating entrepreneurial ventures and to appreciate both the dangers and opportunities inherent in today's business environment. All topics covered in class prior to this exam are examinable. Completion of this assignment will enable students to demonstrate they have met objectives 1-5.

Assessment item 2: New Venture Feasibility Study (Group)

Objective(s): 1-5
Weighting: 20%
Task: A number of topics are introduced in the first 3 weeks. These topics require students to read the prescribed texts and then to actively participate in class discussions. During this initial phase students are also required to develop ideas for establishing a business venture as a new venture or as an intrapreneurial venture within an existing organisation. The second phase revolves around the formation of teams and the selection of projects to establish these ventures. Groups of students in consultation with the lecturer choose projects upon which to develop a feasibility study. These projects are normally selected from the ideas generated by class members. Teams will be involved in researching and developing a feasibility study based on the projects they have selected. These feasibility studies will be presented to the class in the final sessions of semester. Completion of this assignment will enable students to demonstrate they have met objectives 1-5.

Assessment item 3: Closed Book Examination. (Individual)

Objective(s): 1-5
Weighting: 40%
Task: This will assess the student's ability to understand both the theoretical and practical rationale for establishing and operating entrepreneurial ventures and to appreciate both the dangers and opportunities inherent in today's business environment. The final exam will cover all topics covered in the subject. Students will need to apply their knowledge gained in this subject in a holistic manner when answering exam questions. Completion of the final exam will enable students to demonstrate they have met objectives 1-5.

Required text(s)

Frederick, H, Kuratko, D and Hodgetts, R, 2007, Entrepreneurship: Theory and Practice, Asia Pacific Edition, Thomson, Australia

Faculty of Business, 1999, Guide to Writing Assignments, UTS

Indicative references

Timmons, J.A. and Spinelli, S. (2007), New Venture Creation: Entrepreneurship for the 21st Century, 7th edn, McGraw-Hill Irwin USA (ISBN: 0-07-310279-2)

Golis, CC, 2002, Enterprise and Venture Capital, 4th edn, Sydney, Allen and Unwin

English, J. (2006) How to Organise and Operate a Small Business in Australia, 10th edn, Allen and Unwin

Academic journals

Entrepreneurship Theory and Practice

The International Journal of Entrepreneurship and Innovation

International Journal of Entrepreneurship and Innovation Management

International Journal of Entrepreneurship and Small Business

Journal of Entrepreneurship

Journal of International Entrepreneurship

Strategic Entrepreneurship Journal

Foundations and Trends In Entrepreneurship

The International Entrepreneurship and Management Journal

Journal of Developmental Entrepreneurship

World Review of Entrepreneurship, Management and Sustainable Development