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  3. Entrepreneurship Principles and Tools

Entrepreneurship Principles and Tools (UNIB10022)

Undergraduate level 1Points: 12.5On Campus (Parkville)

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Overview

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Semester 2
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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.

This subject presents some of the key frameworks and tools needed by entrepreneurs and is for anyone who has an interest in understanding entrepreneurship, not just potential founders. The subject uses the lens of entrepreneurship to investigate developing areas of knowledge that are relevant to all organisations, from traditional firms to startups, while also recognising that in the future, many students will either start or work for non-traditional organisations.

Intended learning outcomes

On successful completion of this subject, students will be able to:

  • Demonstrate an understanding of the way entrepreneurs are shaping the future world and to understand that the tools of entrepreneurship are relevant in all organisational environments, not just founders.
  • Demonstrate an understanding of the core skills needed by successful entrepreneurs and be able to apply these to either becoming an entrepreneur or working with entrepreneurs.
  • Assess and synthesize information in order to identify opportunities for innovation and design and entrepreneurial response to those opportunities.
  • Apply skills from different disciplines to 'de risk' an uncertain future.
  • Demonstrate an understanding of the value of diversity of opinion and have relevant skills to apply to the challenges of harmonizing competing views to find a way forward.

Generic skills

High level of development

Students will be able to perform the actions associated with these skills without assistance, and will be able to identify strategies to enhance their knowledge and application of this skill:

  • The application of problem-solving skills in uncertain and unpredictable environments through cases and experiential activities
  • Development of the ability to think critically, and organise knowledge, from consideration of the lecture material, readings and guest speakers

Moderate level of development

Students will be able to apply the following skills and need minimal guidance to perform them successfully:

  • An understanding of diversity in all its forms and its relevance in finding solutions to complex problems
  • Identify and apply creative ways of solving unfamiliar problems, through case studies
  • Be able to plan work schedules, to meet the regular deadlines for submission of assessable work
  • Present an argument, by reflecting on those presented in the lecture series and readings and their own in class experience in 'pitching' new ideas.

Last updated: 5 December 2024