GSP140 Establishing New Ventures
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | GSP140 |
|---|---|
| Prerequisite(s): | GSP100 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
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Unit Outline: 10 Week Teaching Period - 2 2024, Online
| Unit code: | GSP140 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | GSP100 |
Overview
The emergence of what has been termed as “Industry 4.0” is typified by an environment where innovative and creative solutions are required not just for organisations to be successful in their endeavours, but to survive and remain competitive.
The aim of this unit is to develop your capability to identify the opportunity for new ventures, either as independent new enterprises, or as opportunities emerging out of an established organisation. The unit also aims to equip you with a thorough knowledge of important issues surrounding entrepreneurial management and the establishment of new business ventures with a particular focus on the “entrepreneurial mindset”, providing you with the tools to turn ideas in viable business opportunities.
It is expected that participants undertaking this unit would incorporate learnings from previous units such as GSP100 Competing in Complex Environments”, GSP110 Optimising Business Outcomes and GSP120 The Digital Leader.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate the capacity to propose new venture concepts and critically evaluate the value proposition and market opportunity for a new venture idea (KS 1.1, HO 2.1)
- Devise strategies to appropriately resource and exploit new ventures (KS 1.1)Relates to: EXEC Business Capabilities: KS (1.1)
- Demonstrate advanced communication skills to critically evaluate a business model for a new business venture and persuasively communicate this to an audience (HO 2.1, PC 3.2)
- Research and navigate through basic legal information environments to locate and communicate information to assist in commercial decision making (KS 1.2, PC 3.1, SEC 5.1)
- Demonstrate and apply knowledge of the sources of law, legal nature of entities, commercial transactions and consumer rights and develop an intellectual property protection strategy for the protection of the new venture idea (KS 1.1, HO 2.2, SEC 5.1)
- Critically reflect on the role of the entrepreneurial mindset in the practice of leading organisations in complex digital environments (HO 2.2, SL 4.1)
Content
Entrepreneurship
- The Entrepreneurial Mindset
- Analysing the Market Opportunity
- New Venture Strategy and Resources
- Business Model Canvas / Lean Model Canvas
Law
- Protecting the Business Idea
- Legal Nature of Business Entities
- Consumer Protection and Contract Performance
- Competition and Consumer Act 2010
- Corporations Act 2001
- Communications
- Proposal Writing
Course Learning Outcomes (Postgraduate - Executive)
The Graduate School of Business has established the Assurance of Learning (AoL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated and advanced theoretical and practical knowledge (including systems thinking approaches, multidisciplinary frameworks and knowledge of research principles and methods) that incorporate recent development in business disciplines and professional practice.
1.2 Apply advanced technical and technological knowledge and skills to critically reflect on, evaluate and contribute to developments that enhance innovative, sustainable and effective business performance in local, national and global business environments.
Higher Order Thinking (HO)
2.1 Provide evidence of effective analysis, interpretation, evaluation and synthesis of complex data, theories, ideas, issues and situations and demonstrate knowledge of how research and inquiry can be used to interpret, contribute to and create theoretical and practical knowledge.
2.2 Provide evidence of higher order thinking including creativity, judgement, cognitive flexibility and critical reflection in designing, planning and implementing strategies and solutions for effective performance in complex business environments.
Professional Communication (PC)
3.1 Demonstrate advanced use of language and argumentation in written communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate and lead in diverse and complex contexts and for diverse audiences.
3.2 Demonstrate advanced use of language and argumentation in oral communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate and lead across diverse and complex contexts and for diverse audiences.
Self and Leadership (SL)
4.1 Demonstrate adaptive personal leadership and accountability, including self-awareness, reflective practice and foresight in adapting and applying knowledge and skills to inform and influence effective and innovative practice.
4.2 Lead, manage and foster the development of collaborative teams that value and leverage the diverse knowledge and skills of others to contribute to the development of robust, adaptable and sustainable courses of action.
Social, Ethical and Cultural Understanding (SEC)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business, to contribute to responsible organisational governance and citizenship in local, national and global business environments.
5.2 Apply knowledge and skills to demonstrate, interpret and critically reflect on, appropriate culturally and socially inclusive and responsible decisions and actions across diverse social and cultural contexts.
Learning Approaches
This unit adopts a blended learning approach and as such, includes a variety of teaching and learning approaches.
Intensive webinars are the primary method of teaching this unit. A textbook and/or readings and a range of digital materials that are designed to support and extend learning prior to, during and after class sessions available in the unit Canvas site and the online Discipline Hub supplements these webinars. Where appropriate, social media tools and forums will be used to extend learning and build connections with students outside the webinar sessions. Given the importance of the unit Canvas site and Discipline Hub to the teaching and learning strategy used in this unit, a computer and tablet device with internet access is strongly recommended for all students.
The principal purpose of the webinars and readings is to build upon the key concepts that were introduced through the Preparation for Class activities and readings. The purpose of the case study work, experiential learning tasks and assessment tasks is to help the student develop their understanding of the concepts and enable them to be applied within a range of business contexts.
There is an expectation that the student will participate in webinars, to take advantage of the opportunity to discuss important issues with their instructor and their peers.
It is expected that students have completed all Preparation for Class activities and readings identified in the unit Canvas site prior to coming to class and/or webinar to be able to maximise the learning opportunities of the class sessions.
A variety of learning activities designed to engage students in their learning will be incorporated into the lectures/workshops and webinars. Such learning activities may include short lectures, class discussions, debates, role plays, group work, guest speakers, student presentations, simulations, case study analysis, videos, readings, wikis, media/current events reports, web searches, etc.
There is a commitment to critical inquiry and intellectual debate in regard to the material covered. Students are encouraged to relate the theories and research discussed to situations known to them and will be encouraged to share their experiences relating to the topics explored in this unit with the class to enrich the overall learning experience of all students.
Expanding the awareness of Australian management policies and practices into intercultural and global perspectives is fostered within this unit. Typically, students enrolling in this unit have extremely varied backgrounds. There is diversity of professional background and socio-cultural background. Students are reminded that this is to their advantage and they have much to learn from one another. To this end, students are strongly encouraged to be sensitive to cultural, gender-related and international issues.
Feedback on Learning and Assessment
Students will receive a variety of feedback throughout this unit.
Informally, feedback will be given verbally in class through webinar discussions and during the debriefing of learning activities.
Direct feedback will be available to those students who request a private or group consultation session with the lecturer.
Formal feedback will be received on both formative and summative assessment tasks through a Criterion Reference Assessment sheet, which will also include written feedback on the assessment task. The Criterion Reference Assessment Sheet will be available in the unit Canvas site at the commencement of the unit. Students will receive feedback on their formative assessment task prior to their summative assessment task being submitted.
Assessment
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Presentation
Name: Business Opportunity Assessment
Description: Identify an entrepreneurial opportunity (Strategy, target market analysis; value proposition) either inside an organisation or as a new entity (or) evaluate the same elements for a nominated QUT Foundry Start-up.
Formative or Summative: Formative & Summative
Postgraduate Executive (AoL goals): KS (1.1), HO (2.1), PC (3.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Requirements Analysis
Name: Business Requirements Analysis
Description: Identify the relevant business model characteristics and legal considerations and business model required of the new entity analysed in Assessment 1.
Formative or Summative: Summative
Postgraduate Executive (AoL goals): KS (1.1,1.2), HO (2.2), PC (3.1), SEC (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Entrepreneurial Mindset
Reflect on the nature of Entrepreneurial practice and how it relates to your own approach to leading innovative and future focused organisations.
Formative or Summative: Summative
Postgraduate Executive (AoL goals): HO (2.2), SL (4.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate Executive)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO3, Presentation
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO5, ULO6, Requirements Analysis, Entrepreneurial Mindset
KS (1.1): Advanced Discipline and Professional Practice Knowledge
Relates to: ULO1, ULO2, ULO5, Presentation, Requirements Analysis
KS (1.2): Advanced Technical and Technological Skills
Relates to: ULO4, Requirements Analysis
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Requirements Analysis
PC (3.2): Professional Communication (Oral)
Relates to: ULO3, Presentation
SE (5.1): Ethical and Legal Understanding
Relates to: ULO4, ULO5, Requirements Analysis
SL (4.1): Personal Leadership, Accountability and Reflective Practice
Relates to: ULO6, Entrepreneurial Mindset
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.GS73 Master of Business Administration
- [KS 1.1] Demonstrate and apply integrated and advanced theoretical and practical knowledge (including systems thinking approaches, multidisciplinary frameworks, and knowledge of research principles and methods) that incorporate recent development in business disciplines, professional practice, and digital innovation.
Relates to: ULO1, ULO2, ULO5, Presentation, Requirements Analysis - [KS 1.2] Apply advanced technical and technological knowledge and skills from a range of business disciplines to critically reflect on, evaluate and contribute to developments that enhance innovative, sustainable, effective, and transformational business performance in local, national, global, and virtual business environments.
Relates to: ULO4, Requirements Analysis - [HO 2.1] Provide evidence of effective analysis, interpretation, evaluation and synthesis of complex data, theories, ideas, issues, situations, and trends across multiple contexts and demonstrate knowledge of how research and inquiry can be used to interpret, contribute to and create theoretical and practical knowledge.
Relates to: ULO1, ULO3, Presentation - [HO 2.2] Provide evidence of higher order thinking including creativity, judgement, cognitive flexibility and critical reflection in designing, planning and implementing transdisciplinary digital strategies and solutions for effective performance in complex digital business environments.
Relates to: ULO5, ULO6, Requirements Analysis, Entrepreneurial Mindset - [PC 3.1] Demonstrate advanced use of language and argumentation in written communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate, lead, and transform in diverse and complex contexts (both physical and digital) and for diverse audiences.
Relates to: ULO4, Requirements Analysis - [PC 3.2] Demonstrate advanced use of language and argumentation in oral communication, including digital communication, to frame strategic and influential responses to engage, persuade, negotiate, collaborate and lead across diverse and complex contexts (both physical and digital) and for diverse audiences.
Relates to: ULO3, Presentation - [SL 4.1] Demonstrate adaptive personal leadership and accountability, including self-awareness, reflective practice, and foresight in adapting and applying knowledge and skills to inform and influence effective, innovative, and agile practice in contemporary complex digital environments.
Relates to: ULO6, Entrepreneurial Mindset - [SE 5.1] Demonstrate and apply knowledge of ethical and legal principles and practices of business, to contribute to responsible organisational governance and citizenship in local, national, global, and virtual business environments.
Relates to: ULO4, ULO5, Requirements Analysis