Ideas, Opportunities and Ventures
Overview
The entrepreneurial process is key to both starting a business and innovating within an existing organisation. This unit will teach students how to use the entrepreneurial process to generate ideas, find the best opportunities, and build successful business ventures. They will learn to understand people’s needs, discover the world of megatrends and competitive forces, and identify industry drivers. They will use frameworks, tools and techniques to evaluate ideas and learn to analyse entrepreneurial opportunities. Students will leave equipped with strategies to overcome challenges and the tools to grow their ideas
Requisites
27-October-2024
01-June-2025
03-August-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Identify different sources of ideas and generate business ideas
- Use appropriate frameworks, tools and techniques to evaluate ideas and identify opportunities
- Analyse a range of factors to make judgements about entrepreneurial opportunities
- Work collaboratively to explore and interpret challenges of entrepreneurial ventures
- Exercise the intellectual independence to be critical and reflective learners
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class |
2.00 | 12 weeks | 24 |
| Online Lecture (asynchronous) |
1.00 | 12 weeks | 12 |
| Unspecified Activities Independent Learning |
9.50 | 12 weeks | 114 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Report and Presentation | Individual | 40 - 60% | 1,2,3,5 |
| Report and Presentation | Group | 40 - 60% | 1,2,3,4 |
Content
- Sources of ideas and opportunities, and how an idea becomes an opportunity
- Understanding customer needs
- Techniques and tools for evaluating and developing entrepreneurial opportunities
- Analyses of the external environment, market, competitor, and value chain
- Development of market entry strategy for the venture
- Resourcing the venture
- Risks and rewards of the venture
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.