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New entrepreneurial ventures, once successfully past the formation stage (incubators and accelerators), often encounter problems caused by their very rapid growth. The activities of the entrepreneur have to change, from innovation to delegation, communication, and organization as different functional and technical skills are needed, new external relationships such as bankers, lawyers and investors are formed and new company employees have to be integrated into the goals and operations of the enterprise. This is a very basic change that many entrepreneurs never make. The purpose of the subject is to recognise that managing growth is the biggest challenge for entrepreneurs, to consider and evaluate the alternative pathways to growth and to consider processes for identifying a preferred approach. The subject identifies methods for assessing customer and market opportunities, the need for revised business models, marketing strategies, the development or acquisition of appropriate skills and resources and the adoption of management control systems that should be used to monitor and analyse growth, with the additional challenge of international growth also considered. Participants in the subject will use case studies and meetings with entrepreneurs to develop a pragmatic understanding of the challenges of growth, as well as the obstacles that need to be overcome. At the conclusion of the subject, students should be able to identify the different pathways to market including commercialisation.
Intended learning outcomes
On successful completion of this subject, using case methodology, students should be able to:
- Demonstrate an understanding of the different pathways to growth for different types of entrepreneurial venture
- Identify and address the different barriers to growth for entrepreneurial ventures
- Manage the resourcing of the entrepreneurial venture through the different stages of growth
- Analyse markets and develop scalable entrance level models for scaling the entrepreneurial venture
- Identify strategies to capture value from globalisation.
High level of development;
- Develop problem-solving and decision making skills through case methodology
- Think critically, and organise knowledge, using case methodology material
- Develop creative ways of solving unfamiliar problems, through the case studies
- Present an argument, by reflecting on those presented in the case analysis and readings
Moderate level of development
- Learn to adopt new ideas, from participation in the case study analysis and discussion
- Develop oral presentation skills
- Plan effective work schedules, to meet the regular deadlines for submission of assessable work.
Last updated: 21 December 2019