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Foundations of Entrepreneurship Practice (MGMT90222)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Summer Term
Overview
Availability | Summer Term |
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Fees | Look up fees |
The purpose of this subject is to study topics on entrepreneurship and innovation. The subject closely examines the definition of an entrepreneur as an innovator who recognises and seizes opportunities; converts those opportunities into workable/marketable ideas; adds value through effort, money and skills; assumes the risk of the competitive marketplace to implement these ideas; and realises the rewards from these efforts. Innovation is ultimately the lifeblood of enterprises, in that it is concerned with the capability to effectively introduce new products and services, new or substantively improved processes or other major initiatives into existing and new enterprises. The subject is systematically organised around the creation, assessment, growth development, and operation of new and emerging ventures. Topics include introduction to design thinking, creativity, intellectual property, business models, innovation capability, new product/process technology introduction and innovation culture. The subject is geared towards preparing students in ultimately being able to understand the principles behind a successful product creation and launch.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- discuss the principles of entrepreneurship and innovation;
- develop the ability to analyse an entrepreneurial enterprise;
- explain the major theories and models of entrepreneurship and innovation management and apply to the analysis of case study problems;
- demonstrate the role and context of business model in the entrepreneurial process and its relationship to design thinking;
- appreciate that there are multiple solutions to entrepreneurial problems;
- demonstrate the skills required for successful collaborations;
- apply the basic principles of commercialization and new product development and how to accelerate the process;
- explain the idea of design thinking and be able to create and illustrate the value of a low fidelity prototype.
Generic skills
High level of development:
- Develop problem-solving skills through tutorial exercises
- Present an argument, by reflecting on those presented in the lecture series
- Think critically, and organise knowledge, from consideration of the lecture material
Moderate level of development:
- Develop creative ways of solving unfamiliar problems, through the tutorial exercise series
- Learn to adopt new ideas, from participation in the lecture program
- Plan effective work schedules, to meet the regular deadlines for submission of assessable work
Last updated: 9 April 2024