Credit Points: 15

Prerequisite: BB103 Management Principles

Co-requisite: N/A

Workload: 36 contact hours

Campus: Melbourne, Sydney

Aims & Objectives

This is a third year core unit in the Bachelor of Business Management discipline and offered as an elective unit in the Bachelor of Business Accounting and Marketing majors.

The aim of this unit is to introduce students to the concepts of innovation and entrepreneurship and their practical applications in the real world. It also covers the processes used in innovation and how to be an entrepreneur. Students are taught step-by-step process for managing entrepreneurship in an organisation using appropriate theories, scenario and practices that are further enforced through case studies and examples. This course builds further on the knowledge and experience that students have developed in BB103 Management Principles.

Unit topics include:

  • Entrepreneurship and its importance
  • Characteristics of entrepreneurs
  • Entrepreneurial motivations
  • Assessing new business opportunities
  • Innovation and entrepreneurial strategy
  • Process of developing an idea into viable products/services
  • Social entrepreneurship
  • Developing a business plan
  • Motivating new venture teams
  • Progressing innovation and entrepreneurial practices

Learning Outcomes

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

  1. Define and explain the concepts of entrepreneurship
  2. Analyse opportunities and apply these principles to decision making
  3. Review and evaluate opportunities and create innovative plans in the real world
  4. Communicate new ideas and plans clearly
  5. Collaborate with others in creating new ideas

Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour
Face to Face

Assessment

Assessment Task
Learning Outcomes Assessed
Weighting
Contribution in class a-e* 10%
Class Test (Individual) a 5%
Case Study analysis (Individual) a-d* 15%
Characteristics of an Entrepreneur Essay (Individual) a-e* 25%
Final Examination (3 hours) a-e* 45%
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:

Kuratko, D. F. (2016). Entrepreneurship - Theory, Process, Practice, 3rd edition, South-Western, U.S.A: Cengage Learning


Reference Reading

  • Samson, D. & Gloet, M. (2016). Innovation and Entrepreneurship: Creating New Value. Australia: Oxford University Press
  • Lussier, R. N., Corman, J. & Kimball, D. C. (2015). Entrepreneurial new venture skills, 3rd edition. U.S.A: Routledge Taylor & Francis Group

Adopted Reference Style: APA can be found in MIT library referencing.

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