Credit Points: 15

Prerequisite: BB103 Management Principles, BB104 Introductory Accounting, BB105 Marketing Principles, and must have completed a minimum of 16 units

Co-requisite: N/A

Workload: 36 contact hours

Campus: Melbourne, Sydney

Aims & Objectives

This third year unit is offered as an elective in the Bachelor of Business, majors in Accounting, Marketing and Management.  For Course Learning Outcomes and further information relating to Bachelor of Business programs please visit the MIT website: http://www.mit.edu.au/study-with-us/programs/bachelor-business.  BM301 Startup Entrepreneurship is designed to nurture students’ entrepreneurial appetite and jumpstart the entrepreneurial adventure.  Students will learn the building blocks of what it takes to create their own venture from the ground-up, including idea generation, team formation, business validation, pitching to investors and more.  

This elective unit offers students the opportunity to use their disciplinary knowledge and skills to develop a business idea. The unit attracts students from the accounting, marketing and management majors, bringing a multidisciplinary perspective to the researching, analysis and problem-solving aspects of entrepreneurship. In teams of three, students are required to develop an original Business Plan aimed at creating sustainable value through the provision of a particular product or service to meet an identified market opportunity. Teams must present their business plan in the form of a formal written report and a video pitch to potential investors. The unit is designed to provide students with the opportunity to enhance, demonstrate and document work-ready skills appropriate to their chosen career path.

This unit will cover the following topics:        

  • Entrepreneurship and starting a small to medium enterprise
  • Idea generation
  • Finding a need and filling it – market research
  • Legal requirements of a startup business
  • Operations management
  • Financial Management
  • Surviving the first three years

Learning Outcomes

At the completion of this unit students should be able to:

  1. Investigate what constitutes entrepreneurship, venture creation and small to medium enterprises.

  2. Identify and define the roles, characteristics (including mind-set), ethics, and performance measures of entrepreneurs (including social and corporate entrepreneurs)

  3. Evaluate the differences and similarities between a corporate entrepreneur, an eco-prenuer and a social-prenuer

  4. Apply the steps required to prepare a successful business plan

  5. Employ independent, systematic research and analysis of entrepreneurship and small business literature, and undertake appropriate reporting and citation of such works.

  6. Participate effectively and ethically in teams to produce a set of outcomes for an academic and a professional audience

These Unit Learning Outcomes are mapped onto AQF Level 7


Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour

Assessment

Assessment Task
Learning Outcomes Assessed
Weighting
Contribution in class a-f* 10%
Business Concept Proposal (Group) a-f* 10%
Market Research Report (Group) b&c 20%
Business Plan (Group) a-f* 50%
Business Plan Video Presentation a-f* 10%
Total   100%

*refer to learning outcomes above.

Textbook

Note: Students are required to purchase the prescribed text book and have it available each week in class.

Prescribed Text Book:

Schaper, M., Volery, T., Weber, P., Gibson, B., (2014), Entrepreneurship and Small Business, 4th Asia Pacific Edition, Wiley & Sons, Qld., Australia


Reference Reading

  • Harper, S., (2006), Extraordinary Entrepreneurship: The Professional's Guide to Starting an Exceptional Enterprise, Wiley & Sons, Qld., Australia
  • Hodgetts, R., Kuratko, D., (2001), Effective Small Business Management, Wiley & Sons, Qld., Australia
  • O’Berry, D., (2006), Small Business Cashflow: Strategies for Making Your Business a Financial Success, Wiley & Sons, Qld., Australia
  • Huff, P., (2006), Make Your Business Survive and Thrive!: 100+ Proven Marketing Methods to Help You Beat the Odds and Build a Successful Small or Home-Based Enterprise, Wiley & Sons, Qld., Australia

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving  Cultural and Global Awareness Team work Specialist knowledge of a field of study
             

Legend

Colour coding    

Extent covered

                                The standard  is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations
  The standard is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations
  The standard is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations 
  The standard is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by  activities such as lectures or tutorials
  The standard  is not considered, there is no theory or practice or activities associated with this standard