Strategic Entrepreneurship - **ASSESSMENT -2** INDIVIDUAL
albert69
rak.pdf
Subject Outline
Subject Name Strategic Entrepreneurship
Subject Code BX3173
Study Period SP52 2019
Study Mode Internal
Campus Singapore
Subject Coordinator Roy Wybrow
Subject Lecturer Val Philip Ortega
.
© Copyright 2018 – v1
This publication is copyright. Apart from any fair dealing for the purpose of private study, research, criticism, or review as permitted under the Copyright Act, no part may be reproduced by any process or placed in computer memory without written permission.
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Contents
1 Subject at a glance ...................................................................................................................................... 3
1.1 Subject Staff Contact Details .................................................................................................................... 3
1.2 Key dates .................................................................................................................................................. 3
2 Subject Calendar ......................................................................................................................................... 4
3 Subject Details ......................................................................................... Error! Bookmark not defined.
3.1 Subject description.................................................................................... Error! Bookmark not defined.
3.2 Subject learning outcomes ....................................................................................................................... 6
3.3 Learning and teaching in this subject....................................................................................................... 7
3.4 Subject design - Progressive feedback on student learning ..................... Error! Bookmark not defined.
3.5 Subject textbook and resources ............................................................................................................... 8
3.6 Prerequisite subjects .............................................................................................................................. 10
4 Assessment Information ....................................................................................................................... 10
4.1 Assessment Tasks ................................................................................................................................... 10
4.2 Submission of assessment ..................................................................................................................... 15
4.3 Return of assessment ............................................................................................................................. 16
5 Important Information for Successful Completion of this Subject ......................................... 16
5.1 Requirements for successful completion of subject .............................................................................. 16
5.2 Plagiarism ............................................................................................................................................... 17
5.3 Referencing ............................................................................................................................................ 17
5.4 Final Examination ................................................................................................................................... 17
5.5 Online Exams/Tests/Quizzes – Respondus Software ................................ Error! Bookmark not defined.
5.6 Online Sessions via Blackboard Collaborate Ultra .................................... Error! Bookmark not defined.
5.7 Practicals ................................................................................................... Error! Bookmark not defined.
5.8 Clinical or professional experience requirements .................................... Error! Bookmark not defined.
5.9 Student feedback on subject ................................................................................................................. 17
5.10 Inherent requirements ........................................................................................................................... 17
5.11 Student Support ..................................................................................................................................... 18
6 Rubrics ........................................................................................................................................................ 19
7 Rubrics ....................................................................................................... Error! Bookmark not defined.
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1 Subject at a glance
1.1 Subject Staff Contact Details
Teaching Team
Staff Member Room Phone Email Consultation times*
Subject Coordinator
Roy Wybrow A001-238 +61 7 4232 1079
Lecturer Val Philip Ortega - 9762 7030 [email protected] By
Appointment
No Tutorials – these are used as workshops on delivering evidence backed business model
*Other consultation times by appointment only.
1.2 Key dates
Key dates Date
Census date See 2018 Study Period and Census Dates
Last date to withdraw without academic penalty See 2018 Study Period and Census Dates
Assessment Task 1: Business Model Plan (40%) Due: Week 10
Assessment Task 2: Pitch Presentation (30%) Due: Week 9 & 10 after lecture or tutorial
Assessment Task 3: Journal (30%) Due Week 10
2 Subject Calendar
Please note, the sequence of some topics may change due to staff availability, resourcing, or due to unforeseen circumstances.
Week/
Date Lecture Session (2 hours)
Workshop (1 hour)
Readings Related Assessment
Tutorial (1 hour)
1
Thursday
18/07/19
Session 1:
(a) Subject Briefing
(b) Economic Need & Entrepreneurial Process:
Why Entrepreneurship, Defining Entrepreneurship& the process of entrepreneurship.
Workshop 1
Attendance requirements, participation and Group formation
Lecture notes, Readings & videos
Journal No tutorial
2
Thursday
25/07/19
Session 2:
Intra & Social Entrepreneurship:
What are corporate entrepreneurs? Understanding the social entrepreneurial movement.
Workshop 2
Team Development, GEM Survey
Developing an Idea - Opportunity
Lecture notes, Readings & videos
Journal
Tutorial 1
Tut A, B & C: Mon: 22/07/19
Tut D, E & F: Thur: 25 /07/19
Introduction to Assessments
3
Thursday
1/08/19
Session 3:
Strategic Entrepreneurship:
Creativity, Innovation & Strategy
Workshop 3
Discuss Idea & Concepts
Introduction to the Lean Canvas
Lecture notes, Readings
Journal
Tutorial 2
Tut A, B & C: Mon: 5/08/19
Tut D, E & F: Thur: 8/08/19
Group work on assignments and consultation
4
Thursday
8/08/19
Session 4:
Agile Design: Customer Development and the Lean- Startup
Workshop 4
Complete 1st iteration of lean canvas
The problem – whose is it?
Proving initial assumptions – Problem Solution fit - Beachhead
Lecture Notes, Videos
Journal
Assignment/ journal
Tutorial 3
Tut A, B & C: Mon: 12/08/19
Tut D, E & F: Thur: 15/08/19
Group work on assignments and consultation
5
Thursday
15/08/19
Session 5:
Idea to Market Opportunity:
Developing the Product-Market Fit (The Value Proposition)
Workshop 5
Opportunity Workshop – Understanding Need & Solving Pain Points: Developing Value Proposition Canvas
What assumptions need proving?
Lecture Notes, Videos Assignment/
journal
Tutorial 4
Tut A, B & C: Mon: 26/08/19
Tut D, E & F: Thur: 29/08/19
Group work on assignments and
Consultation
19 – 23 August LECTURE RECESS
6
Thursday
29/08/19
Session 6:
Business Model Development (I):
Business Models & Business Plans. Business Model Canvas & Feasibility
Workshop 6
Consult on Concept – Value Proposition, Market Attractiveness “The Numbers”
Assumptions proved? Validated
Lecture Notes, Text, Videos
Assignment/
journal
Tutorial 5
Tut A, B & C: Mon: 2/09/19
Tut D, E & F: Thur: 5/09/19
Group work on assignments and
Consultation
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7
Thursday
5/09/19
Session 7:
(a) Business Model Development (II):
5-Core Patterns & Creating New Models
(b) Business Model Development (III):
Strategy & Business Model Canvas
Workshop 7
Building the Lean Canvas – Channels & Key Metrics Assumptions validated?
Lecture Notes, Text, Videos
Assignment/
journal
Tutorial 6
Tut A, B & C: Mon: 9/09/19
Tut D, E & F: Thur: 12/09/19
Group work on assignments and consultation
8
Thursday
12/09/19
Session 8:
(a) Pricing & Metrics
Start-up Capital Requirements, Financial Metrics & Pricing
(b) Proof of Concept: New Approach to Plans & Pitch.
Workshop 8
Building the Lean Canvas - Revenue Model & Key Metrics
Assumptions Validated? Lecture Notes, Text, Videos
Assignment/
journal
Tutorial 7
Tut A, B & C: Mon: 16/09/19
Tut D, E & F: Thur: 19/09/19
Group work on assignments and consultation
9
Thursday
19/09/19
Session 9:
Pitch Presentation Assessment
Pitch Presentation Assessment Lecture Notes Assignment
Tutorial 8
Tut A, B & C: Mon: 23/09/19
Tut D, E & F: Thur: 26/09/19
Pitch Presentation Assessment
10
Thursday
26/09/19
Session 10:
Pitch Presentation Assessment
Business Model Plan Assessment due
Journal Assessment due
Pitch Presentation Assessment Lecture Notes Assignment
Tutorial 9
Tut A, B & C: Mon: 30/09/19
Tut D, E & F: Thur: 3/10/19
Pitch Presentation Assessment
3 Subject Details
3.1 Subject description
Strategic entrepreneurship explores strategy and entrepreneurship presenting these integrated areas in a theoretical, applied and experiential manner based on key themes. These include mainstream and social entrepreneurship identifying commonalities and differences between each category. Moving between strategy and operations it illustrates the links between the two areas and explains how both are necessary for entrepreneurial success. The subject achieves this through discussion of the agile design methodology in customer development and the lean venture with analysis of numerous theoretical and empirical examples in developing competitive businesses.
This subject is an applied subject on entrepreneurship. The best method in understanding entrepreneurship and how entrepreneurial managers and leaders operate in an ambiguous continually changing environment is to get one’s hands dirty. We will explain the underlying theory behind this modern entrepreneurial global movement and give you the tools and methodology that the new entrepreneurs are using successfully. These tools originated in Silicon Valley & Stanford University by Steve Blanks as the customer discovery method and developed into the lean system used throughout the world today. This applied entrepreneurship is moulded on the methodology developed by Professor S Blanks, A Osterwalder, Eric Ries & Ash Mauyra of the Lean Entrepreneur movement. These tools have seen the rise of successful start-up hubs from Alto Palto New Mexico, Seattle, Boulder Colorado, London Creative District, Tel Aviv, Singapore, Stockholm, Sydney, Melbourne etc. Start-up hubs such as Rocket, I- Lab, Start-up Institute, Bootcamp & Fintech to name afew. Students will be applying their knowledge and skills developed from previous subjects in; accounting, entrepreneurship, finance, HR, marketing, operations and strategy, together with knowledge acquired in this subject, developing a sustainable business model from a potential opportunity, discovering the problem – solution fit, developing the problem – market fit proving a feasible business model ready to launch a new SME Venture.
3.2 Subject learning outcomes
Students who successfully complete this subject will be able to:
Subject Learning Outcomes Assessment
1. explain the nature of entrepreneurship and its importance economically and socially in an international, national & regional context;;
Journal
2. identify the types of entrepreneurs and their activities; traditional & social; ethnic & indigenous;
Journal
3. analyse the role played between innovation and entrepreneurial activity to sustain a viable business;
Assignment, Journal
4. develop strategic entrepreneurial skills by identifying and analysing opportunities demonstrating feasibility;
Assignment, Journal
These outcomes will contribute to your overall achievement of course learning outcomes.
Course Learning Outcomes Assessment
K1 Demonstrate essential knowledge necessary for a career in business related professions
Assignment;
K2 Synthesise underlying principles and concepts for making business decisions
Assignment;
K3 Critically analyse the core professional obligations, values and operations of organisations
Assignment
S2 Apply critical thinking to address issues in business Assignment;
S3 Convey information clearly and fluently, in high quality written form appropriate for their audience
Assignment
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A1 Apply technical skills, including numeracy, necessary for professional practice in business professional practice
Assignment;
A2 Demonstrate an awareness of ethical and social responsibility in professional practice
Assignment
These course learning outcomes can be located in the entry for your course in the electronic JCU Course Handbook 2018 (see Academic Requirements for Course Completion).
3.3 Learning and teaching in this subject
This subject uses a combination of approaches to teaching and learning, including student centred and teacher directed approaches. The content of the subject is disseminated using a variety of teaching strategies including formal lectures, tutorials, secondary research (library and Internet), group work, case studies, and guest speakers from industry (when available). At the beginning of each lecture, students will be made aware of the expected learning outcomes, how such outcomes are relevant to the world of business, and the resources that support the learning outcomes of this subject. Students learning experience is enhanced through experiential activities and active class participation.
In this subject the principles for managing uncertainty & developing a modern approach to developing an entrepreneurial business are given using experiential and inclusive approach. Examples of pitching a business using Dragons Den video’s as a tool to develop “elevator pitch” & entrepreneurial mindset. Videos from successful serial entrepreneurs giving their secrets are utilised in setting the entrepreneurial mindset & vision. The subject is not developed or taught from one text, it is a compilation of many successful approaches by dynamic entrepreneurs and longitudinal study of these managers. The prescribed text is a handbook on how to develop a successful model and is the foundation for the Dragons Den Pitch. The assignment is a live pitch of your business model in front of local entrepreneurs, Government Small Business Agencies, marketing, financial &/or capital investors who will adjudicate on your business’s viability based on your pitch of your idea, opportunity & business model. Students are expected to be active participants in the learning process and are encouraged to participate in the lectures, workshops/tutorials and undertake weekly chapter/case readings
Tips on how to get a good grade
• Read the assigned materials (text chapters and other documents) prior to class.
• Make a copy of the PowerPoint slides and add extra notes from the lecture and your own reading.
• Try to relate the concepts read to a current situation for a practical application of the theory/concepts.
• Actively listen to the lectures, presentations and discussions.
• Participate in the discussions. If you participate, you will get a better understanding of the concepts with the added
bonus that you will remember the material more during exam times. We all learn from each other.
• If you do not understand something, ask. If you are too shy or are intimidated to ask during the lecture or tutorial, ask
after class. Try to remember, there is no such thing as a silly question. If you are confused or wondering about
something presented in class, I can virtually guarantee that others are confused or wondering about the same thing.
So please, ask for clarification – help the class!
• Look for practical examples of innovation/entrepreneurship occurring around you. Ask questions like which
problem is being solved, has the solution being offered deliver the most impact for the customer, is this a real value
proposition from the customer’s viewpoint?
• Participate in the group activities. Take interest in your class and classmates.
• Have the right positive attitude. Your education is an investment in your future.
*** Lectures These are lectorial workshops giving a combination of theory, activities and hands on mentoring. The theory is given in 4 lectures which underpin the methodology in practice. In essence this subject is practical and thus applied learning. And as such in the initial weeks we define entrepreneurship, types of entrepreneurship and the innovation.
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At the same time a series of applied lessons are given where you develop a feasible start-up using the method and tools taught. Lecturers are more designed to facilitate your knowledge and mentor your development in this field.
Key subject activities Time Day/ Date Room/ Location
Lecture 12.00 – 2.50pm Thursday TBA
Tutorial A 11.00 – 11.50am Monday TBA
Tutorial B 12.00 – 12.50pm Monday TBA
Tutorial C 1.00 – 1.50pm Monday TBA
Tutorial D 3.00 – 3.50pm Thursday TBA
Tutorial E 4.00 – 4.50pm Thursday TBA
Tutorial F 5.00 – 5.50pm Thursday TBA
For confirmation of the subject timetable you can refer to the JCU Timetable 2018 .
For information regarding class registration, visit the Class Registration Schedule.
3.4 Subject textbook and resources
The prescribed text is absolutely essential to this subject and assists in developing your skills in building a working business model. You will be expected to complete weekly readings and while full topics may not be covered in the lecture, any content of the prescribed reading is examinable. In other words, what you read is as important as what you hear (and do) in the tutorials.
» B Aulet (201 Bill Aulet (2015) Disciplined Entrepreneurship: 24 steps to successful start-up (Wiley US)
» Osterwalder A. (2010). Business Model Generation. A Handbook for Visionaries, Game Changers, and Challengers. Hoboken NJ: John Wiley and Sons.
3.5 Further Reading (used in Subject)
» Allen Kathleen R (2012) Launching New Ventures: An Entrepreneurial Approach. 6th Ed. South Western Cengage Learning
» Blank S (2008) Four Steps to Epiphany: Successful Strategies for Products that Win. 2nd Ed. Cafepress
» Blank S (2012) The Start-up Owners Manual: Step by Step Guide for Building a Great Company (K&S Ranch Inc US)
» Bilton C & Cummings S (2010) Creative Strategy: Reconnecting Business & Innovation John Wiley & Sons. Sussex UK
» Brooks A (2008) Social Entrepreneurship: A Modern Approach to Social Value Creation. Pearson Education International
» Constable G (2014) Talking to Humans: Success starts with understanding your customers.
» Cooper B (2010) The Entrepreneur’s Guide to Customer Development – A cheat sheet to “The Four Steps to the Epiphany” Kindle
» Couros G (2015) The Innovator’s Mindset: Empower Learning, Unleash talent, and Lead a Culture of Creativity (Dave Burgess Consultancy Inc. US)
» Croll A(2015) Lean Analytics: Use Data to Build a Better Start-up Faster (Lean Series: O’Rielly, Cambridge UK)
» Kaplan & Warren (2010) Patterns of Entrepreneurial Management. John Wiley & Sons. US.
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» Mazzarol T (2012) Entrepreneurship & Innovation: Readings & Cases. 2nd Edition. Prahan Vic. TUP
» Muarya A (2012) Running Lean: Iterate from Plan A to a Plan That Works. (The Lean Series: O’Rielly Publishing House US)
» Muarya A(2016) Scaling Lean: Mastering Key Metrics for Start-up Growth (The Lean Series: Penguin Publishing UK)
» Osterwalder A (2014) Value Proposition Design: How to create products and services customers want. (Wiley & Sons US)
» Ries E(2012) The Lean Start-up: How constant innovation creates radically successful Businesses (Lean Series: Penguin Books US)
» Schindehutte M, Morris M & Pitt L. (2008) Rethinking Marketing: The Entrepreneurial Imerative. Ireland Morris Entrepreneurship Series. Prentice Hall.
Assessment Dragons Den loosely based on concept:
» BBC TV-2 UK, 200-2011: Dragons Den UK Series – BBC Knowledge (Austar) Dragons Den UK series videos on You-Tube or from BBC TV website. http://www.bbc.co.uk/programmes/
» Channel 10, Aust. : Shark Tank Series – Ten Play: https://tenplay.com.au/channel-ten/shark-tank
Online and Electronic Resources
http://libguides.jcu.edu.au/cat.php?cid=28433: then select BX3173: Libguides for this subject holds journals, of videos, links and market research information… IBIS reports… accessed via database portal in library site.
e-corner: http://ecorner.stanford.edu/index.html (Stanford University’s Entrepreneurship Corner – select talks with serial entrepreneurs & venture capitalists
www.businessmodelgeneration.com Website for text, various blogs & assistance social sites, also a companion toolbox (subscription only) for backend of model.
www.smartcompany.com.au an electronic news site for entrepreneurs. (Connects to spinoff interest sites: smart startup etc.
http://www.smallbusiness.wa.gov.au a useful site of information, templates etc to assist in developing your business
http://www.innovationtoolbox.com.au/regions#cairns a site for assistance in develpoping your business & becoming more innovative.
http://www.business.qld.gov.au/ Queensland Small Business Portal for templates, information, assistance etc….
http://learn.nab.com.au/category/business-tips/ NAB’s useful tips & advice on small business finance management & start-up planning
http://www.anz.com.au/small-business/tools-forms-guides/small-business-hub/ a useful site for information, FAQ’s on startup, templates etc..
www.12Manage.com
www.valuebasedmanagement.net ( two sites that give succinct definitions and latest management, financial,
marketing & strategic theory – excellent quick resource for managers)
www.oecd.org/department/0,3355,en_2649_34197_1_1_1_1_1,00.html (OECD’s centre for entrepreneurship)
The following libguides available from the JCU Library website will provide details on referencing, plagiarism, findings management books and journals:
http://libguides.jcu.edu.au/apa - referencing
http://libguides.jcu.edu.au/c.php?g=162333&p=1064089 – plagiarism
https://www.jcu.edu.au/library/find/journal-articles - journal articles
https://www.jcu.edu.au/library/find/books,-dvds-and-more - books
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Learning & Writing Skills workshops and notes to assist with writing an essay; presentations etc
https://www.jcu.edu.au/students/learning-skills
Journals
• BRW
Library has the print copy only. You could search the BRW website for article details then retrieve the article in the print format on the shelves. Call number: 330.994 P45
• Harvard Business Review
Online from 01/01/1997 to 31/05/2000 See Tropicat for print and microfilm holdings
• Journal of Change Management
• Journal of Management
• Journal of Organizational Behavior
• Journal of Organizational Behavior Management
• Journal of Organizational Change Management
3.6 Prerequisite subjects
There are NO Prerequisites for this subject being that it is the fundamental Core subject for the Business Degree
4 Assessment Information
4.1 Assessment Tasks
ASSESSMENT TASK 1: SMALL BUSINESS WORKBOOK A
Assessment 1 Group (2-5 members) Learning Outcomes
This assessment is in two parts, a presentation and a written plan that are to follow the criteria for the Business Plan Assessment.
THE PITCH: The presentation is a pitch of a feasible and viable business concept for a start-up business presented to a panel of business mentors. The duration of the pitch is to be of no more than 7 minutes with a further 10 minutes of questioning from the panel. (30% of subject grade).
THE BUSINESS Model Plan: This is to follow the guidelines given (found on LearnJCU website for this subject). The plan, like the pitch, is to be aimed at gaining interest from a mentor & is to be submitted before business closing hours (40% of subject grade).
Subject outcomes: 3, & 4
Course Outcomes: K1, K2, K3 S2, S3,
A1, A2
Group or individual Diversified groups of no less than 3 members and no more than 5 members per group
Weighting 70% of overall subject grade (30% Pitch + 40% Report)
Due date Pitch Presentation: submit slides on week 9 and 10 via LearnJCU after presentation. Business Model Plan: submit on week 10 at end of session via LearnJCU.
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ASSESSMENT TASK 1: DESCRIPTION
THE BUSINESS PITCH & PLAN
“Rules of the Road”
The following information is the final word on the requirements for the business model plan. Please read it carefully as you are responsible for knowing and understanding these requirements.
The business model plan should contain the major sections in the order that they are given as per the Business Model Plan Template (Found under assessment in LearnJCU site and as given by instructor. A copy of components and the expected sub-components with their grading is given under assessment page of LearnJCU site and by instructor. These are not just a guide but the proven map in writing a successful business plan. These sections correspond to the text Osterwalder (2010) Business Model Generation Wiley pps 200 – 209 & according to chapter “Evaluating Business Models” pp 212-223. The Business Model Plan Template is based on latest expected by Venture Capitalist. A copy is attached within LearnJCU & can be found within Business Model lecture material.
Do not use previously written plans as a guide to the format. Your business is unique, solving a unique problem for a unique market, because of this: You are free to adjust the order sub-headings to meet the needs of your particular business. Those given in the outline are suggestions only, e.g.: Description of Business could become Business Concept. However, the plan must cover all areas given and must be written as required to meet the needs of an Investor or a Venture Capitalist.
You are required to deliver your business model plan prior to the pitch so that the Dragons are informed of your concept and thus can give more constructive opinion and suggestions on your business opportunity. Keep the plan succinct and to the point. Ensure executive summary gives the pertinent information succinctly and accurately.
Part a: Business Model Plan
This document should be well written in a highly presentable but succinct form for the explicit purpose of gaining a mentor and possibly an investor. It is your marketing material to enthuse an investor to buy into your business endeavour. The proposal should flow and be easily read. No acronyms or jargon should be used, keep it to simple layman’s terms. This document should recover the highlights of the pitch and supply the details and evidence of the pitch. It is a rendition of your Business Model. It tells your story and reinforces what you have said, provides the persuasion to invest and allows the investor the additional and recapped information needed to make that decision.
The proposal should explain your Business model and be easily evident to the audience on what your concept is, what your business is about, what are the immediate and long term objectives and provide enthusiasm for the opportunity you have discovered. It should provide your Vision, Your Beach head market (who and where are they, and its value), the potential larger market and opportunities to scale.
In this document you need to clearly define what problem you are solving and why this market will purchase from you? – Your Unique Selling Point – your Competitive Advantage. You need to describe your MDP – this can be a expanded on via a brochure or specification sheet in the appendix. You must clarify your revenue model and profitability, (with supplied financials in the appendix). Supply your presumed sales with justification and evidence (a graphic is best used here) – make sure your numbers add up.
In essence this document should build upon the excitement for your pitch and provide the greater detail, explanation and evidence of the highlights given in your pitch.
The document should commence with a succinct executive summary which spells out in no more than 3 pages the reason for this proposal, the investment required and the Opportunity being offered. It should clearly explain the business model and provide the highlight details only; ie: expected sales & revenues; profits & growth potential (can be in graphic form), Your key metrics and marketing information that supports these figures – eg TAM, SAM, SOM; Life time value of customer. These are the pertinent market, customer and financial information. Where possible, best to show graphics that illustrate numbers rather than a table of figures. The detailed numbers are best shown in appendix or in specific body of the plan.
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The document is written in the format provided by the Business Model Plan Template (provided in LearnJCU)
By using Ash Muarya’s Lean Canvas, and other tools provided in developing your opportunity, it will give you the insights and the understanding of your business to enable you to transfer the lessons learnt and develop Osterwalder’s Business Model Canvas. From this your Business Model plan can be written. When using the Business Model Plan Template in writing the Business Model Plan please do so in conjunction with the full criteria guide for this plan (which can be accessed on learnJCU) which indicates the information expected and thus a guide to marking of this plan.
Part b: Pitch
This is where you create the enthusiasm for the desire and need to become involved by selling your startup as a
huge business opportunity that the mentor/investor wants to be a part of.
The following are the critical components that need to be delivered in your pitch:
1. Vision: Start strong by selling your grandiose vision for the company in 30 seconds or less
2. The Problem: Be persuasive. Frame the problem by showing a massive untapped demand for the solution
your business can cater for. Show the scale of the opportunity by providing an estimate of Total available
market value. Demonstrate you understand the market by making reference to the current solutions and
alternatives to the problem.
3. The Solution: Justify your solution as the best possible based on the problem stated. Communicate your
Minimum Delightful Product breaking it into segments based on core functionality and benefits.(keeping it
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customer focused) Create emotion by telling the story of the potential customer and how they will use your
product making their life better.
4. The Revenue Model: Identify your KPIs, your primary customers, your monetisation model, show the
basic maths on estimated revenues, ROI, break-even, conversions and estimated average lifetime of your
customer. Try to state two immediate revenue streams as well as two possible future revenue streams.
5. Marketing Strategy: Your marketing strategy will explain how you target end users. Develop a profile of who your ideal beachhead market customer – paint a picture of this typical person in your sufficiently large
enough homogeneous market. Deliver two tactics for how you will reach them providing context on why this
tactic has been chosen, how it will work and why it will succeed. In doing so justify your choice of
communication channels and marketing materials. Lastly, define your target market growths and how these
strategies will achieve them finishing with two or more potential future markets.
6. Financial Projections: Develop a financial plan that illustrates how profit and loss, and growth projections, projected over 3 – 5 years, will be impacted by the information you have given. Be conservative
in your numbers and ensure marketing information, customer value and your financials align. Be explicit in
any and all assumptions made in calculating these forecasts. Best to show these graphically or in a chart.
7. Competition: List your top three competitors and in a few dot points, briefly list what each of them do well, what each of them don’t do well, their brand positioning and their target audience. Illustrate the gap in the
market you can fill – your unique selling proposition. Never say that you don’t have any competitors.
8. The Founding Team: The team is important to investors. The team behind the idea is critical to the success of the venture. State why you have chosen the members: skills, qualifications, experience &
networks. Prove your start-up is backed by a team that can and will make it all happen.
9. The Master Plan: The high-level plan of attack to reach the growth targets laid out previously for the next 6 months, 12 months and 3 years. Keep this to specifics, the milestones not the small task.
10. Investment opportunity: State clearly what you are after – ASK FOR THE MONEY. First say how much you are looking to raise in total and from who, then say what you are doing to raise that money.
Explicitly say what you are looking for from that investor specifically, and at what cost per share. Show that
you have a plan for how you’re going to handle that investor’s money by listing in dot points (or a pie chart)
the breakdown of where that investor’s money will be going, as well as what will happen to it if you can’t raise
the full amount you need.
Now ask for any questions………………………….
(Note: This assessment is run similar to the Dragons Den UK Series and the Australian Shark Tank concept and
students should familiarize with this via BBC-TV2 website, short episodes available on Youtube or at showings during
tutorials. (http://www.bbc.co.uk/programmes/b006vq92)
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ASSESSMENT TASK 1: Part A & B CRITERIA SHEET
See Rubrics in Section 6.
ASSESSMENT TASK 3: JOURNAL
Description Personal Entrepreneurial Traits with discussion on the main attributes that’s constitutes to a successful startup
Subject Outcomes SO3 & SO4
Learning Outcomes K1,K2,K3, S2, S3, A1 & A2
Group or individual Individual Assignment
Weighting 30% of overall subject grade
Due date Submit week 10 via LearnJCU at end of session via LearnJCU.
ASSESSMENT TASK 2: DESCRIPTION
Journal 2,500 words (+-10%)
Purpose:
The journal is to assist in focusing on being entrepreneurial and gaining the skills set to be successful in business.
The journal gives focus by self-questioning your current traits, where they originate from and where need to improve. It also informs on what complimentary skill sets you should look for to build a formidable business team. It assists in inspiring by talking about a potential entrepreneurial hero you admire or wish to emulate and take a look at why their business is successful by understanding their business model.
The journal also assists in understanding and developing the skills for discovering and understanding a market, developing a value proposition that a market will want, learning how to build a business model towards developing a successful entrepreneurial business and building a personal understanding of the lean agile process that is creating successful businesses world wide.
Furthermore, your journal should shed an insight on what are the most important factors behind a successful startup and your research should demonstrate the factors which attributed to the success of a particular company.
Journal is a reflection of you and your entrepreneurial expectations at present.
It looks at your propensity at present, towards entrepreneurship (Global entrepreneurial Traits) and your reflection on these. Then a discussion on what you believe you can bring to an entrepreneurial team and why a team would need you; such as diligence, vitality, experience, creativity and skills. Also what you believe your team members are bringing or could bring to your team. In this part you are to do a short expose of an entrepreneur who inspires you and the company you admire. You will then suggest, using the business model canvas, what that company’s business model is and using the tools given in the text, score and discuss that model.
See Rubrics in Section 6.
4.2 Submission of assessment The ability to adhere to deadlines is a highly desirable attribute that employers seek in our graduates. Right
from the beginning, new students should acquire the habit of meeting deadlines for their work, by organising
their study time appropriately. The following points apply to the submission of assessment
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1. Extensions will be granted in cases of illness or personal issues (supported by strong evidence – at
least medical certificate/counsellor’s statement required). It is at the discretion of the subject
coordinator/lecturer that extension s will be granted for inescapable, unexpected, documented work
commitments (provide documentation).
2. You must contact your lecturer well before the due date if you are likely to require an extension
3. Where no prior extension has been approved, late submissions will incur a penalty of 5% of the total
mark available per day including part-days, weekends and public holidays. Assessment tasks will
generally not be graded after 14 days past the due date.
4. Each Workbook must be submitted using SafeAssign through the LearnJCU website
Note that the Learning, Teaching and Assessment Policy (5.22.3) outlines a uniform formula of penalties that will be imposed for submission of an assessment task after the due date. This formula is 5% of the total possible marks for the assessment item per day including part-days, weekends and public holidays. After 20 days, the assessment item thus would be awarded 0 marks (i.e. 5% x 20 = 100% of total possible marks in penalties).
4.3 Return of assessment
The marked assessment and feedback will be available online through LearnJCU no later than 21 days after the due date (click on My Grades in the subject site menu).
5 Important Information for Successful Completion of this Subject
5.1 Requirements for successful completion of subject
In order to pass this subject, you must:
• Achieve an overall percentage of 50% or more;
• Must submit a credible attempt at all assessment items within this subject. Students who have completed less than 100% of the assessment will be subject to review by the College Assessment Committee which could result in an ‘X’ grade (Fail (did not sit for exam/s or did not complete at least 80% of assessment requirements or deferred exam not granted))
• Demonstrate regular attendance and engagement with the content of this subject in accordance with student participation requirements as outlined in 5.2, including but not limited to any mandatory face to face attendance or online session participatory attendance.
Assessment items and final grades will be reviewed through moderation processes (Learning, Teaching and Assessment Policy, 5.13-5.18). It is important to be aware that assessment “is always subject to final ratification following the examination period and that no single result represents a final grade in a subject” (Learning, Teaching and Assessment Policy, 5.22).
5.2 Student participation requirements
The JCU Learning, Teaching and Assessment Policy (4.3) indicates that, “a 3 credit point subject will require a 130 hour work load of study-related participation including class attendance over the duration of the study period, irrespective of mode of delivery”. This work load comprises timetabled hours and other attendance requirements, as well as personal study hours, including completion of online learning activities and assessment requirements.
Note that “attendance at specified classes will be a mandatory requirement for satisfactory completion of some subjects” (Learning, Teaching and Assessment Policy, 5.10); and that additional hours may be required per week for those students in need of English language, numeracy or other learning support.
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5.3 Plagiarism
Plagiarism occurs when writers claim ownership of written words or ideas that are not their own. Plagiarism is a form of cheating and any instances of plagiarism will be dealt with promptly according to University procedures.
Please see the JCU Student Academic Misconduct Requirements Policy
• www.jcu.edu.au/policy/student-services/student-academic-misconduct-requirements-policy
• Also see the definition of self plagiarism in the JCU Learning, Teaching and Assessment Policy and note policy statement 5.9 in regard to submission of one’s own work that has been previously submitted for assessment and received a grade www.jcu.edu.au/policy/learning-and-teaching/learning-teaching-and- assessment-policy
• What is Plagiarism? www.jcu.edu.au/students/exams-and-results/what-is-plagiarism
• Further information can be found via Help and Support in your LearnJCU subject site menu under Plagiarism (Academic Misconduct).
5.4 Referencing
Referencing is a systematic way of acknowledging the sources that you have used. Students should check out the very helpful online resources relating to academic writing and referencing at:
• Writing and Maths Skills Online www.jcu.edu.au/students/learning-skills/learning-skills-online (In particular, the booklet Summarising, Paraphrasing & Avoiding Plagiarism is a very useful guide).
• The Referencing Libguide http://libguides.jcu.edu.au/referencing
• Further information can be found via Help and Support in your LearnJCU subject site menu under Academic Skills Support.
5.5 Final Examination
There is no final exam for this subject. It is an applied subject therefore an applied approach to assessment has been developed.
5.6 Student feedback on subject
As part of our commitment at JCU to improving the quality of our courses and teaching, we regularly seek feedback on your learning experiences. Student feedback informs evaluation of subject and teaching strengths and areas that may need refinement or change. YourJCU Subject and Teaching Surveys provide a formal and confidential method for you to provide feedback about your subjects and the staff members teaching within them. These surveys are available to all students through LearnJCU. You will receive an email invitation when the survey opens. We value your feedback and ask that you provide constructive feedback about your learning experiences for each of your subjects, in accordance with responsibilities outlined in the Student Charter. Refrain from providing personal feedback on topics that do not affect your learning experiences. Malicious comments about staff are deemed unacceptable by the University.
5.7 Inherent requirements
Inherent requirements are the fundamental abilities, attributes, skills and behaviours needed to achieve the learning outcomes of a course while preserving the academic integrity of the university’s learning, assessment and accreditation processes. Students and prospective students must be able to demonstrate that they have acquired or have the ability to acquire the inherent requirements for their degree.
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Reasonable adjustments may be made to assist students manage additional circumstances impacting on their studies provided these do not change the academic integrity of a degree. Reasonable adjustments do not alter the need to be able to demonstrate the inherent requirements of the course. Students who believe they will experience challenges completing their degree or course because of their disability, health condition or other reason should discuss their concerns with an AccessAbility Services team member or a member of College staff, such as the Course Coordinator. In the case where it is determined that inherent requirements cannot be met with reasonable adjustments, the University staff can provide guidance regarding other study options.
5.8 Student Support
Business Online responds to requests for assistance with all learning technology and associated issues. Support is provided for LearnJCU, Pebble Pad, Blackboard Collaborate, recording presentations, Respondus LockDown browser and online exams, and other learning technologies. Help and Support is available 7 days a week, 8.30am - 8.00pm weekdays, emails checked by 3.00pm weekends. Contact: [email protected]
For more student support services and related information look for Student Support Services in the Help and Support menu item on all CBLG LearnJCU subject sites.
Please see the Student Resources tab in the top menu of the LearnJCU for other important student information pertaining to plagiarism and referencing, examinations advice and student support services.
FOR OFFICE USE
This subject outline has been prepared by Roy Wybrow for the College of Business, Law and Governance, Division of Tropical Environments & Societies, James Cook University. Updated 23rd Jan 2018
Q1. This subject is offered across more than one campus and/or mode and/or teaching period within the one calendar year.
Yes ☒ No ☐
Q2. If Yes (Q1), the design of all offerings of this subject ensure the same learning outcomes and assessment types and weightings.
Yes ☒ No ☐
Q3. If no (Q2), [Type here] has authorised any variations, in terms of equivalence.
Subject Outline Peer Reviewer
Name
Position
Date Reviewed
6 Rubrics
ASSESSMENT 1: DRAGON”S PITCH & PLAN
PART A: Business Model Plan
Part a: Business Model Plan
Business Model Plan Assessment Criteria
How the complete business model plan will be assessed using the components
The assessment looks at the 10 components of a business Model plan. As can see, the business model is a large component of this plan. As you develop your plan, you should assess each component as per full criteria given on LearnJCU. Be honest in your assessment because the main purpose is to improve your business model and increase your chances of success in both the pitch and the business opportunity. The Plan utilises your discovery from developing The Business Model Canvas.
Scoring 10 Components of a Business Model Prospectus
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Part B: The Dragon’s Pitch Criteria
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The Journal - The Personal Journey [Weighted: 30%]
[Total: 50 Marks%]
First Personal Journal Entry Set (Compulsory) (10 marks)
Tasks:
1. You
a. Discuss how do you stack up against the five dimensions (e.g. achievement drive, creativity, desire for autonomy and internal locus of control)
place your Survey questionnaire results as an Appendix to the journal.
b. Discuss what the survey findings suggest you need to develop or improve? What factors (education, peers, family, experience ) in your past or character may
have led to these results. These should include negative and positive influences.
2. Personality
a. Discuss your scored personality type.
b. Can you recognise some of these behaviours in yourself? Does this assist in understanding why you see and act in certain ways.
3. Your Skills & Experience
What do you bring to a team; what skills, experience, knowledge, networks that you believe could be of use and value to your entrepreneurial venture. Discuss.
Are you the: Hipster – The idea creator
Hustler – one who can acquire resources and sell
Hacker – the engineer, the builder
Herder – the project manager, keeps all focused on task, on schedule and on budget
Second Personal Journal Entry Set (10 marks)
Tasks:
1. Your Poster Entrepreneur
Profile an entrepreneur that interests or inspires you. It may be an individual or team from history or current era. Use published sources and print media. Consider
their personal characteristics, backgrounds in terms of family and social economic situation, education, experiences and skills, the type of venture and the
business and economic climate when launched their venture, their management style, if possible, what is their vision and belief in what they are attempting to
achieve, their outlook on life & future, what drives them? What is their philosophy for business? How does this lead to the innovation they brought to their
company that created the differentiation from their competitors for their customers?
Link to either Kurakto’s entrepreneurial behaviour or Daviddson’s Model of Motivation for Entrepreneurial Activity.
2. Discuss your personal reflections on the reason you chose this entrepreneur and what inspires you about this person. (The entrepreneur maybe well-known,
public or local hero. This person (or team) maybe living or dead, maybe current or historical. They may be successful or not but something about them is a
source of inspiration for your journey).
Third Personal Journal Entry Set (5 marks)
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Tasks:
1. Your Poster Entrepreneurial Company
Discuss a business this entrepreneur has developed (it maybe a current business, a past, historical business or business they have sold). In your discussion,
tell what the business does, what is it offering, what is its mission and vision. Discuss its origins and beginnings up to current. Give its history and performance.
Its employee relations and its company culture.
2. Discuss why you chose this company. What appeals to you about what this company is doing, acting and trying to achieve. State & discuss what you would
take away from this company to emulate and why?
Forth Personal Journal Entry Set (15 marks)
Tasks:
1. Poster Company’s BMC
Using the company in Set 3; and the Business Model Canvas from Text, develop & draw this company’s Business Model Canvas. Discuss the 9 building blocks
of the canvas with respect to the company. Provide evidence where possible to justify your understanding of this company’s business model. In your discussion,
determine the Business Model Pattern used (see text). (Example: see Nespresso Model pp236-7 text)
Attach the BMC in the appendix along with any supporting evidence.
2. Using the SWOT Assessment. Assess this company’s BMC. Discuss your assessment. Attach your copy of the Assessment survey in Appendix.
3. Using Blue Ocean Strategy, can you re-invent or improve your assumed company’s business model. Discuss your steps and give your final adapted canvas.
Fifth Personal Journal Entry Set (Reflective Overview) (Compulsory) (10 marks)
Tasks:
1. What have you learnt or gained during the reading of the text, delivery of the subject and through the fund raise, both about yourself and the nature of
entrepreneurship and innovation? What did you personally gain from the subject, discuss? What did you find beneficial? What areas do you believe were of little
or no benefit? Discuss.
2. Have any changes occurred since Session 1 day 1, in terms of your own perceptions of whether you might seek to be more entrepreneurial or innovative?
**All journal entries must include cites and references from text and subject material to
provide evidence of subject understanding and knowledge by linking with subject materials.
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ASSESSMENT TASK: JOURNAL MARKING CRITERIA Each Segment of the Journal will be marked; “not competent”, “acceptable” and “competent”. Marks are awarded accordingly: Not Competent will equate to 10% for each task attempted Acceptable will equate to 60% of Set Mark Competent will equate to 100% of Set Mark No Attempt will equate to a “0” score. To gain an overall Acceptable result, score of 30/50 for the journal must be scored with compulsory Entries of: Personal Journal Entry Sets 1 & 5 and any other Sets to make up the minimum 30 marks required. To gain better score the remaining tasks must be completed. Requirement for Competent/ Acceptable and Non Competent will be provided within LearnJCU Assessments folder. Note: If do minimum tasks worth 30 marks in total you will need to ensure all tasks are to competent quality to gain 30/50 total required.
