Venture Planning
Overview
This Unit focuses on the start-up, growth and maturity phases of a new venture’s lifecycle, exploring the strategy development stage (business model generation, business planning, growth and maturity potentials). This unit builds on prior and existing knowledge in relation to a) discovering a business idea and b) researching, recognising, evaluating and screening the feasibility of a business opportunity, aims at developing a strategy development planning framework for a new venture to meet a business and/or a societal need. This unit assumes prior knowledge on a) feasibility analysis, b) industry analysis, c) market analysis, d) competitor analysis and e) product/service prototype development. This unit is largely interactive and process-orientated. The processes and tools taught in this unit can be largely applied to entrepreneurship and innovation in any context: new businesses, existing businesses (small or large), not-for-profit, public service.
Requisites
Rule
ENT60009 Opportunity Discovery, Creativity and Design
OR
ENT60006 Opportunity Discovery
Learning outcomes
Students who successfully complete this unit will be able to:
- Apply coherent and advanced knowledge on lean start-up principles, business model generation tools, linking business model to business plan, building the foundations and strategies for growth, reaching maturing and exit strategies (success, failure and succession) and internationalization strategies
- Advanced knowledge and understanding of strategic business planning within an entrepreneurial context
- Apply planning, problem solving, strategic and decision-making methodologies to implement innovative business solutions to complex problems with intellectual independence
- Communicate and present in a proficient and professional manner as a member or leader of a group of people
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Online Lecture | 1.00 | 12 weeks | 12 |
| Unspecified Activities Independent Learning | 9.50 | 12 weeks | 114 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assignment | Individual | 50 - 70% | 1,2,3 |
| Project Presentation | Group | 30 - 50% | 1,3,4 |
Content
- Business Model and Strategic Planning Process for Entrepreneurial Ventures [lean start-up principles; business model and planning; customer segments; distribution channels; value proposition and marketing strategy]
- Business Models and Values [values; vision and mission; values-based marketing; ethics-establishing a strong ethical culture; brand values]
- Legal foundations and Intellectual Property
- Business Model and Business Planning Process [purpose, structure and content; business plan outline and development; financial plan; strategic plan; presenting/pitching a business plan with confidence]
- Raising money for starting and growing businesses [valuation; financing and funding a new venture; harvesting the venture and investments]
- Preparing, Evaluating and Managing the Challenges of Entrepreneurial Growth [using the business model to strategize; strategies for growth]
- The entrepreneurial firm’s international expansion process [international growth strategies; franchising]
- Maturity [exit routes; success; failure; business valuation; succession planning]
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.